Tag: CEO Insights

Whiteboard Topics: 3 Reasons to Sell Your Lake Home in 2020

Posted on Camille Smith

Thinking of selling your lake home, but worried about the economy? While your hesitations are valid given the uncertain impacts of COVID-19, they’re likely unfounded. Lake Homes CEO, Glenn Phillips, gives three reasons why now is actually a great time to sell your lake home. 

  1. Lake real estate sells all months of the year, not just spring. 
  2. The availability of appropriately priced inventory has shrunk nationwide
  3. Take advantage of the window before stimulus money subsides 

Ultimately, the best time to sell your lake home is when it’s right for you. And if you’ve determined it’s time, don’t hesitate to put it on the market now. Consult with a lake focused real estate agent with nation-wide market awareness at Lakehomes.com! 

Whiteboard Topics: 5 Things Home Buyers Don’t Care About

Posted on Camille Smith

When it’s time to sell your lake home, you’re likely keeping a mental list of what home buyers find important. However, your attempt to read buyers’ minds could be incorrect. To avoid this pitfall, Lake Homes CEO, Glenn Phillips, shares 5 things that home buyers don’t care about.

  1. What you paid for the lake house 
  2. The price of nearby homes in the market 
  3. Personal effort that you put into the home
  4. Using outliers in the market as a proxy for your home
  5. Your feelings about the home (don’t take an offer personally!)

As you price your home, keep these points in mind. Overall, now is a great time to sell property, so take advantage of the current window! 

Whiteboard Topics: Predicting the Fall Real Estate Market

Posted on Camille Smith

If you’re preparing to sell your lake home, it’s natural to wonder how the market will be doing this Fall. Although COVID-19 has left the market’s future more uncertain, some reliable predictions still exist. Lake Homes CEO, Glenn Phillips, shares five things to consider when predicting the Fall real estate market: 

  • Stimulus checks, the PPP program, and other initiatives have created an artificial economy that will likely continue through the Fall 
  • A high demand for lake houses has persisted throughout the pandemic 
  • Despite the demand, there’s a housing shortage of appropriately priced inventory for lake homes 
  • Consumers’ fear of uncertainty means they are not willing to overpay for homes 
  • As stimulus money fades later in the year, an economic cliff is likely to happen when the true state of our economy becomes clearer.

If you’re buying or selling a lake home, it’s important to keep these Fall real estate market predictions in mind. As a national specialist in lake real estate, we’re here to help. Check out our website for more information.

Whiteboard Topics: How to Make Sure Your Offer Doesn’t Kill Your Transaction

Posted on Camille Smith

When selling your lake home, you may think that taking the highest priced offer is the best choice. However, there’s an anomaly happening in the real estate market now. Lake Homes CEO, Glenn Phillips, explains why taking the highest and best offer can create some problems. 

Picture this: You put your lake home on the market at a reasonable price. You receive a high offer with a pre-approval letter. Then, the appraisal comes back short or the lender isn’t sure they’ll approve it. You’re back to square one. 

To avoid this scenario, get an appraisal yourself. It’ll help you negotiate and price your home appropriately. Further, if you get several potential buyers, consider more than the highest offer. Finally, find a lake agent who knows the market, is familiar with pricing, and can successfully sell your lake home. 

Whiteboard Topics: Six Reasons You Don’t Need a Physical Office

Posted on Camille Smith

If you’re looking to buy or sell a lake house, you may wonder if it’s necessary to pick an agent with a physical office. Contrary to popular belief, brick and mortar isn’t necessary to sell a home. Lake Homes Realty CEO, Glenn Phillips, gives 6 reasons why your lake agent doesn’t need an in-person office. 

  1. The office isn’t relevant in a digital world 
  2. Time is precious, and office meetings take time from viewings 
  3. Many top producing agents work more effectively without a physical office 
  4. Offices don’t sell houses — agents and brokers do
  5. Buyers enjoy the convenience of an online platform
  6. Money spent on office leases could be spent helping clients

Just because an office environment is familiar doesn’t mean it’s the future of real estate. The best agents can do their work anywhere. Find an agent today at Lakehomes.com to have your questions answered. 

Whiteboard Topics: Navigating New Mortgage Challenges

Posted on Camille Smith

Are you thinking about using a mortgage to buy a lake home? Since interest rates are low, it’s a good time to use a loan. However, mortgaging a home comes with unusual considerations during the pandemic. Lake Homes Realty’s CEO, Glenn Phillips, names these 4 mortgage challenges to keep in mind: 

  1. Money is not easy or fast
  2. The process requires extra verification
  3. The pre-approved letter doesn’t matter as much as it used to
  4. It’s important to take extra time in the process

When you’re ready to buy a lake home, visit lakehomes.com and check out our daily listing updates.

Whiteboard Topics: Three Questions to Ask Your Real Estate Agent

Posted on Camille Smith

Lake Homes Realty CEO, Glenn S. Phillips, reveals two unspoken real estate secrets–  not all real estate agents are equally skilled, and many use the same formula when listing a home. With a special property like a lake house, how do you determine which agents can successfully sell your home?

Glenn recommends interviewing potential agents and asking three questions: What else will you do to sell my home? Who do you know? and Can you name 15 areas where people are shopping at my lake? The best lake home agents will feature your property on highly-targeted websites, have connections with multiple lake-focused agents, and have expertise in several lake areas. 

Whiteboard Topics: 5 Reasons to Choose Lake Homes Realty

Posted on Linda Thach

How do you maximize your opportunity to sell your lake home? When it comes to selling, here’s the real goal: you want to maximize the odds that you will get the maximum price the market will bear in a timeframe that is suitable for you. Here are five ways Lake Homes Realty can help you sell your lake property.

  1. Maximize exposure
  2. Pricing guidance
  3. Lake real estate expertise
  4. Unique network
  5. Buyers from across the country

As mentioned in the video, the Lake Real Estate Market Report contains unique multi-state market information about lake homes and land, including lakefront property, lake access property, lake view property, and near-lake property.

Free to the public, the market report can help lake home and land buyers and sellers better understand their local market, and how it relates to other similar competing markets. Download it HERE.

Whiteboard Topics: 5 Tips For Buying a Lake Home

Posted on Linda Thach

Especially during the pandemic, many people are considering buying a lake home for social distancing. If this is you, Glenn Phillips, Lake Homes CEO, has some tips. First, set appropriate pricing expectations, keeping in mind that the lakeside location may add to the home’s cost. Although a market peak should keep prices from further escalation, appropriately-priced property is hard to come by, so it can help to seek multiple lakes for your dream home. When you find that home, be sure to act quickly because other buyers are looking, too. Finally, when buying a lake home, it’s best to seek out a Lake Homes agent with local expertise.