The current real estate surge has led to an inventory shortage in most markets, but LakeHomes.com has tens of thousands of lake property currently listed. So, what motivates someone to sell during this frenzy? While there are some outliers, here are three reasons why people in this economy are interested in selling a lake home:
- Age. Even before the pandemic, age-related transitions were on the minds of sellers. Whether it’s because the kids have moved out and they are now looking to downsize or they are looking to go live with family elsewhere, sellers making age-related decisions are creating some turnover in the lake real estate market.
- Financial Need. As the economy shifts, financial need will become more of a motivation for sellers than it already is. Right now the real estate market is at its peak, so if a seller has a financial need, now is a great time to make that property very liquid and get cash for the home.
- Financial Opportunity. This is the best time for someone with a lake home to seize the opportunity to get maximum return on their lake property. Though sellers should avoid overpricing their lake home, these are the homes that can be sold quickly because of the strong demand right now.
Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight into today’s lake real estate market and guide you in your home journey.