Bay View home appraisals
Bay View cottages sit on land leased from the Bay View Association, and the Association must approve every buyer before a sale closes. Add a season that ends in November and reopens in May, and this is a market of its own. The ACS put the median owner value at $375,500 for 2020 to 2024, with a margin of $45,861.
A leasehold, not a deed to the ground
Owners here lease the land under their cottages from the Association, which charges annual Chautauqua fees along with taxes. The Association's real estate page says all sales are subject to prior membership approval. Sellers must notify the business office within five days of signing a listing or sales agreement, contiguous leaseholders get written notice at least 30 days before closing, and the seller orders an electrical safety inspection and a survey from the approved Bay View surveyor.
Open May through October only
Bay View closes from November through April, and residents must vacate their cottages for those months, according to Wikipedia. The 2010 census counted 133 people in the census designated place. The current ACS estimate is 164 residents against 592 housing units, with a median age of 74.4. A fee simple house in Petoskey a few blocks west carries none of these terms. Sales inside Bay View are the cleanest comparisons for a Bay View cottage, and the leasehold terms belong in any report.
Areas, lakes and neighborhoods in this file
- Bay View Association grounds
- Bear Creek Township
- Little Traverse Bay
- Petoskey State Park
- City of Petoskey
- Conway
- M-119 south end
Landmarks around Bay View
- Bay View AssociationNational Register of Historic Places
- Stafford's Bay View InnHistoric inn
- Petoskey State ParkState park