Lake property value going up despite recession
DETROIT LAKES - The housing market in our area has beaten the odds again. As many across the country try unsuccessfully to sell off first and second homes, those looking for a lake place are still forking over big bucks.
In the past year, Jack Chivers sold ten million dollar lake homes. Until last year, he had only sold one. Sales haven't slowed down here and prices are actually going up. The average lake home will now cost you half a million dollars; many are much more.
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