Articles and News

The Good and Bad of Relisting a Home for Sale

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Even celebrities can struggle selling a home, as discussed in Natalie Way‘s recent Realtor.com article Christie Brinkley Relists Her 2 Homes in the Hamptons: Why Haven’t They Sold Yet?

Brinkley’s homes are clearly luxury properties, much like many lake homes across the country. Unlike other homes, such high-end and niche-market homes face challenges that other homes don’t when it comes to selling fast.

Couple sitting on sofa considering relisting

These types of homes are all discretionary purchases, meaning their purchase is optional. Like dinner at a high-end restaurant, no one has to pay that much just to have food, or in this case, shelter.

Because of this, selling luxury homes often requires more time on the market, as sellers have to wait to match up with a buyer that has both the means to purchase such a property AND the inclination to buy now.

The more expensive the home, the longer sellers should be prepared to have their home listed. This extended time commitment is just one of many reasons sellers may choose to take their home off the market and relist it later.

Why homes are relisted

High-priced homes rarely sell in a timely fashion. This can be attributed to several reasons:

  • Home was previously over-priced for that market and wasn’t going to sell.
  • Real estate market conditions have changed.
  • As a sales strategy, home is removed from the market in hopes it will appear “new” to the market sellers relist.
  • The homeowner has a change of heart about selling, then recommits to selling.
  • Sellers decide to use the home for a period of time, perhaps as a break from the interruptions caused by showings and selling.
  • The owner chooses to try a different real estate agent and/or different marketing strategy.
  • The owner has “finally had enough” and is ready to be more aggressive in price and strategy to get the home sold.

Some of these factors sellers have no control over, such as the real estate market changing; others are just part of life.

Risks of relisting a home

Relisting a home for sale is not without some market challenges. Some of these risks include:

  • Today’s knowledgeable home buyers (and local agents) know this property is not a new listing. Buyers may wonder if the home has some problem that is making it difficult to sell.
  • The home may get a reputation as having “been on the market forever.”
  • Taking a home off the market and relisting at a new price may lead buyers to believe if they wait long enough, the price may drop again.
  • If a home isn’t on the market, it can’t sell. During the time the home is unlisted, sellers are missing out on buyers that could come along.

Tips on relisting a home for sale

Relisting a home may not be a magical solution, but there are steps to take that help make the most of  relisting the home for sale.

  • The marketing strategy must be very different when sellers relist. Don’t just pop the home on-and-off the market without a new approach.
  • Make a meaningful change in the price.  This signals to buyers the seller is serious about a sale.
  • Update the property in some manner. Don’t go overboard, as some of this money will not be recouped. However, yard landscaping, new paint, new carpet, or better staging can really help a home sell faster.

 

There are really only two reasons a home does not sell: it is not marketed well or priced correctly.  However, the higher-priced the home, or the more specialized the home may be (like lake homes), the more time it usually takes to sell.

Removing the home from the market and relisting is one approach used by people selling such homes. Though it does come with some risks, relisting can sometimes be another useful tool in the sales plan.

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Family-Friendly Traditions to Start This Summer

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Child in swim trunks holding father's hand at the lake

Visiting the family lake house is a classic summer pastime, and to some, it’s a long-running tradition.

Some traditions, however, can lose their shine over time. Mix things up with these fun, family-friendly ideas that everyone will love.

DIY Slip n’ Slide

A larger-than-life-sized water slide is foolproof fun the entire family can enjoy. The tools you need to make one yourself are minimal.

Materials:

  • One box of marine boat wrap
    • (For an example, click here)
      • Note: It’s important to use a thick, puncture-proof, tarp like product to prevent injury or malfunction
  • Tent pegs
  • Dish soap
  • A water sprinkler or water hose

Directions:

First, roll out the tarp/boat wrap to its maximum size. Slip n’ Slides can be fun anywhere, but for maximum excitement, we suggest setting up on a hill!

Once you have your tarp or wrap laid out, secure the corners and edges of your slide with tent pegs. Think about pulling the material tightly to ensure a smooth surface.

After that, take your dish soap and cover your base material with it. One helpful trick is to remember the heavier or thicker the soap, the more extreme the slip!

All that’s left from there is to turn on the water and get sliding!

Rainbow Fish Cupcakes

Once you’ve had your fill of the slip n’ slide, bring the fun indoors with this delicious recipe by Two Sisters!

These lake-themed sweet treats are sure to go over swimmingly.

Ingredients:

  • Cake mix
    • Be sure to check the box’s list of ingredients for additional supplies.
  • Buttercream frosting
    • For your frosting, you can either buy pre-made icing at your local grocery store, or make your own with the recipe found here. 
  • Food coloring
  • M&Ms
  • Tiny marshmallows or candy eyes

Directions:

First, bake a batch of your favorite flavor cupcakes. This will take between 10 and 20 minutes.

While your cupcakes bake, prepare your frosting. If you have chosen to make your own, you can expect the process to only take a few minutes. Next, use the food coloring to make batches of yellow, blue, green and pink frosting.

Once your cupcakes have finished baking, set them aside to cool.

As they cool, take your M&Ms and separate them by color. You’ll need approximately 15 candies for each fish’s scales and two red candies for each fish’s lips.

Once cooled and frosted, it’s time to add “scales” to your rainbow fish cupcakes!

Start with one row of scales in the center of the cupcake and continue adding rows until half the cupcake is filled with M&M scales.

Next add your candy eyes or tiny marshmallows, and finish off your treat with two red M&M lips!

Backyard Bowling

You know those sodas you enjoyed by the water earlier? Well don’t throw away those old 2-liter bottles just yet! It’s super easy to re-purpose them for some healthy family competition.

Materials:

  • 10 plastic, 2-liter bottles with the labels removed for bowling pins
  • A bag of pebbles or sand
  • A kickball

Directions:

To start, just add a few ounces of pebbles or sand to the bottom of each bottle for weight.

Then just set them up and play ball. Be sure to pick your teams wisely!

For an even more unique experience, you could add some glow sticks to each bottle for a little bowling after dark.

Memories of long days spent at the lake are some of our most cherished. These simple ideas offer just a few ways to keep those memories coming for many years into the future.

For more family fun at the lake, check out these other LakeHomes.com articles: “Unique Boats for Family Fun” and “Fun Outdoor Games for the Family”!

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Moving Tips – What to Keep, Sell, or Donate

April 6, 2018

When it comes time to move, many people throw everything into boxes, whether its their wedding china or the 10 take out menus they have from the same Chinese food restaurant. Few people actually see moving as the the perfect opportunity for going through and clearing out their belongings. This task should be straightforward, direct […]

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5 Ways Lakes Make the World a Better Place

March 22, 2018

We all love the pristine beauty and endless fun that our favorite lake brings, but have you ever stopped to consider what it was intended to be used for in the first place? Most significantly sized in the US are man-made, and while recreation is one reason some are created, it’s definitely not the most […]

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Smart Home Tech for Seniors

March 9, 2018

Smart gadgets for your home are becoming more and more commonplace. But homeowners don’t have to be tech gurus to make smart updates to their homes, especially those who are reaching  retirement age. The”aging in place” movement emphasizes how smart home improvements can help the baby boomer generation save money, time, and energy though simple […]

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Lake Real Estate Market Report for Winter 2018 Released

March 8, 2018

Winter 2018 Update to the Lake Real Estate Market Report Released Lake Homes Realty has released the Winter 2018 update to the firm’s proprietary Lake Real Estate Market Report. Covering more than 650 lake real estate markets across 13 states through the Southeast, Southwest, Northern, and Northeast United States, the report is the nation’s most comprehensive look at […]

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Springtime Front Door Makeovers You’ll Love

March 7, 2018

Spring is a time to renew, refresh and revive your lake home. Give your front door a face lift with these fresh and fun ideas! Pick a Color, Any Color A fresh coat of paint can do wonders for any space, but instead of just touching up the scuffs on your front door, consider painting […]

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Handyman 101: Replacing a Toilet Handle

February 23, 2018

A good thing to learn is how to replace a toilet handle. Whether it is busted, rusted, cracked, or you just want to put a new one on, here are a few do-it-yourself tips. Fortunately, replacing a toilet handle is fairly inexpensive and easy to do. Remove the Tank Lid The first thing you’ll need […]

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Antique Boat Festival Returning to Lake Hartwell

February 23, 2018

The Blue Ridge Chapter of the Antique and Classic Boat Society, in conjunction with the Hart County Chamber of Commerce, will host the 2018 Lake Hartwell Antique Boat Festival on Saturday, April 21 at Hartwell Marina. This year’s event will commemorate 29 years the festival has been held on Lake Hartwell and will feature more […]

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President’s Day Special: Lakes Named for the Nation’s Leaders

February 16, 2018

Originally observed in honor of George Washington’s February 22 birthday, President’s Day, was first celebrated, following his death, in 1799. Appropriately dubbed “Washington’s Birthday,” the day was declared a federal holiday in the Washington D.C. area in the late 1970s. The holiday gained national recognition in 1885, and in 1971 the Uniform Monday Holiday Act renamed the […]

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