Canadian Lakes, Michigan

[Michael Terry]

I own a lot (and a house) in Canadian Lakes, Michigan, a resort area 50 miles north of Grand Rapids. Anyone familiar with the area doing any investing? Have a crazy thought of building a spec home on the lot, but there is so much for sale! 

[David Zamarron]

I've brokered many houses in the area.  I would urge caution in building a spec house as there are many properties available at prices well below reproduction cost.  Additionally, many sellers in this retirement/second home market own their properties free & clear of mortgages and have room to market and negotiate aggressively.