Whiteboard Topics: 4 Realities of Selling A Lake Home You Overpaid

Buying a lake home for an egregious price typically means you won’t be able to sell it for quite as much. Lake Homes Realty’s CEO, Glenn Phillips, explains why your lake home’s value is determined by the market, and not your own estimations.
  1. The Market Rules: It’s a real estate market. In other words, the market determines the worth of your lake home, no matter how much you paid for it.
  2. Accept the Loss: You must accept the loss, and sell at market price. However, the time spent in your home should hopefully make up for the monetary loss.
  3. Buyers Don’t Care: No matter how much you’ve put into purchasing your lake home, buyers don’t care. They want to pay what the market says it’s worth.
  4. Time Matters: The market is always fluctuating, and it is currently at a peak. Now is a great time to sell your lake home for a price closer to your liking.
Don’t fight against the market when selling your lake home. No matter how much you paid for it, the market will always determine its true worth!

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