Two Lake Michigan homes have identical 100-foot shorelines, but one sits behind a steep bluff with stairs and setbacks while the other offers easy water access. Market price rewards raw frontage; actual value depends on whether you can use the water.
2 homes, both may have 100 feet of Lake Michigan frontage. Both might have beautiful views. Both might have great beaches. Both might look incredible in the listing photos, but one has easy access to the water. The other sits behind a very steep bluff. One has room for future improvements. The other has setbacks. stairway issues, access limitations, or redevelopment constraints. In this example, the frontage did not change, but the ownership experience did. That is why I often say the market rewards frontage, ownership rewards usability. Frontage is an observation. Waterfront usability is an interpretation. Whether the property can support the way someone wants to live on the water is the judgment.
