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News
News
By Vicki Browne
Iron County Lakes & Streams Partnership
IRON COUNTY—Realtors who work with buyers and sellers in Iron County have a vested interest in the health of our lakes. They know which lakes are desirable and what conditions impact sales.
Local realtor Peggy (Kolbas) Connors was born and raised in Gaastra and has been a broker/owner of Wild Rivers Realty for 40 years. Sharon Polich grew up in Kenton, worked in the Iron County Equalization Department, owned and operated Ski Brule Resort, and then became a realtor for Re/Max North Country 21 years ago.
Connors fondly remembers when the school bus picked Gaastra kids up and transported them to Pentoga Park so they could spend long summer days at the beach. She also recalled that lots along Midsummer Drive on Chicaugon Lake sold for about $350 in the 1970s.
Times have definitely changed, and both realtors pointed out that lakefront property is scarce.
“The inventory of waterfront property is very low and it isn’t uncommon to have multiple offers and bidding wars on them,” Conners said.
Polich also noted a shortage of lakefront lots on the market. “There are not many vacant lots available on our lakes and that is an issue for a buyer who wants to build a home,” she said.
Although there may not be high inventory, Iron County does include a diverse range of lakefront property. Chicaugon, Fortune, Hagerman, Sunset and Stanley Lakes are some of the most popular full-use lakes. Quieter ‘no-wake’ lakes without motorized boats also appeal to buyers.
Polich singled out two lakes north of Amasa. “Cable and Porter Lakes are absolutely stunning, but you have to be ready for a longer drive into the area and will need solar power or a generator,” she said. “The privacy and exceptional views are well worth the trip.”
Connors highlighted two other lakes. “Maggie Lake was just a farm when we grew up and now is occupied by owners who want privacy and restrictive covenants since they don’t want large boats, jet skis, etcetera,” she said. “Perch Lake is an example of a somewhat developed lake with seasonal access.”
Several trends are worth noting. Connors mentioned that people who were born and raised here are returning to purchase property on the lake they grew up on. She also sees that the number of full-time residents on lakes is on the rise. People who want to get out of the cities are finding it easier to move here because they can work from home. Polich added that new buyers of residential homes are using them as an Airbnb or Vrbo rentals.
Two issues surfaced as potential problems for property values: invasive species and lake levels.
“When a lake is infiltrated with Eurasian watermilfoil or other invasive species that destroy the healthy environment and water clarity, it definitely affects land values,” Polich said. “If the lake frontage is engulfed, you can’t operate boat motors without issues or swim without moving your dock further and further from the shore.”
Connors said that those mitigating factors haven’t had much impact on the recent surge in property value.
“I have seen property values drop when lake levels drop, but for the most part, values have gone up considerably, especially in the last few years,” she said.
Polich and Connors agreed that property owners and lake associations must work together for the sake of their lakes, but the county, townships and all who enjoy the lakes should be attentive to opportunities to be in collaboration.
“Healthy lakes should be a concern for all residents of Iron County,” Polich said. “Healthy lakes generate higher sale prices, which in turn provide higher tax dollars for the township.”
Iron County’s lakes are also essential for tourism. “The landowners on most lakes have associations, whether voluntary or not, that raise money to help keep lakes clean,” Connors explained. “It is important for the county and townships to reach into their pockets, because clean lakes add to tourism and benefit all industries in our area.”
A sign on Connors’ wall reads: “If you are lucky enough to live on water, you are lucky enough.”