Tag: home sellers

Whiteboard Topics: Has The Lake Real Estate Market Shifted?

Posted on Kamari House

Nothing in this world is stagnant, and that includes the lake real estate market. Lake Homes Realty’s CEO, Glenn Phillips, gives four tell-tale signs that the market is shifting.

  1. Inventory Increases: There is an uptick of homes on the market, which has been a positive shift in available inventory.
  2. Days-on-Market: The average time a home spends on the market is beginning to increase. The longer homes sit on the market, the more time buyers have to evaluate their options. 
  3. Price Cuts: The combination of increased inventory and growing day-on-market is leading sellers to cut down their prices; a trend we haven’t seen in the past few years. 
  4. Surge of ‘Better Hurry’s’: In an attempt to maximize profit, surges of sellers are putting their homes on the market while it’s still in their favor. 

As the world around us changes, so will the real estate market. The best way to secure your investment is to recognize these signs and plan your buying/selling strategy around them.

Whiteboard Topics: Has The Lake Real Estate Market Peaked?

Posted on Kamari House

It can be difficult to determine if the market has reached its peak when you’re not familiar with real estate patterns. Lake Homes Realty’s CEO, Glenn Phillips, breaks down three factors that are affecting the market as we know it.

  1. Modern Increase in Inventory: There are several components that go into this, some of which include: the economy, buyer fatigue, and life post-pandemic. Searching for a home, in a market this intense, can become overwhelming, and the effects are starting to show themselves.
  2. Days-on-Market Up: Homes aren’t flying off the market as they once were. This is a clear indication that the frenzy is starting to slow down.
  3. Fewer Offers: The competition isn’t as fierce as it once was. Homes are no longer being flooded with offers as soon as they reach the market.

Although noticeable changes are being made, this isn’t to say we are in a bubble or about to crash. Now is still a great time to sell your lake home for a return on your investment. On the other hand, if you plan to buy, waiting a little longer may lead you to more opportunities.

Whiteboard Topics: Selling? 4 Advantages Of Hiring A Lake Homes Realty Agent

Posted on Kamari House

When selling your home, you want the best of the best on your side. Lake Homes Realty’s CEO, Glenn Phillips, explains why listing with a Lake Homes Agent is the number one option.

  1. More Buyers: Most agents are well-versed in their local market, but our agents have access to buyers around the country. Having a larger pool of buyers makes selling your home all the easier.
  2. Pricing Intel: Your competition doesn’t end with the home next door. Buyers are vetting lake locations across the nation, and our lake homes agents have the pricing intel to ensure your home has the advantage.
  3. Become a Featured Property: Listing with a Lake Homes Realty Agent is the only way for your property to be featured on the Lakehomes.com website. Your home will be given priority exposure to our target audience.
  4. National Network: Our real estate agents are an interconnected group that is committed to helping you buy/sell a home. If one agent cannot find a property for a buyer, they will refer them to another lake homes agent; one of which could be yours.

These are only a few advantages available to you when listing with a Lake Homes Realty Agent. When deciding to sell your lake home, it only makes sense to go with a lake expert!

Whiteboard Topics: 4 Things Lake Homeowners Must Consider About Mortgage Rate Increases

Posted on Kamari House

Increasing mortgage rates are inevitable, and as a lake homeowner, you need to know what that means for the value of your property. Lake Homes Realty’s CEO, Glenn Phillips, shares four things to consider as interest rates rise.

  1. Less DIRECTLY Important: The fluctuation in mortgage rates will influence the demand for your home. Selling before the rise in mortgage rates will ensure a larger pool of interested buyers.
  2. Slow Price Appreciation: With inventory being so high and demand being so low, prices have skyrocketed in recent times. The increase in mortgage rates will contribute to slowing this down.
  3. Influences Buyer Mindset: As interest rates go up, buyer demand goes down. Inflation can cause buyers to be more conscious of their spending habits.
  4. Think About Timing: If you want to maximize the return on your investment, you have to time the sale of your home to the market’s peak.

Owning a lake home is an investment, and as a homeowner, you want to maximize this investment when you’re ready to sell. Be sure to research the current state of the market before you decide to list your home!

Whiteboard Topics: 5 Real Estate Agent Marketing Tactics You Should Ignore

Posted on Kamari House
Unfortunately, some real estate agents are known for using catchy phrases and buzzwords to attract unsuspecting homeowners. Lake Homes Realty’s CEO, Glenn Phillips, gives five tactics to ignore when choosing a lake real estate agent.
  1. “No Cost to the Buyer”: There is always a cost because agents are getting compensated for representing you. You want to get the most value because you are paying them indirectly.
  2. “Million Dollar Producer”: A million dollars sound like a lot, but can be misleading. Selling one million dollars of property can be done in four transactions, which isn’t very much.
  3. “The Most Listings”: Having properties available isn’t a bad thing, but the problem arises when those properties have been on the market for long periods of time.
  4. “Largest Local Office”: The size of the office doesn’t determine how motivated a brokerage is to sell your home. Depending on their processes, they can even limit your pull of buyers. 
  5. “Marketed on Thousands of Websites”: Being marketed on thousands of websites means nothing if no one is visiting those websites. You want your properties to be seen on high traffic, real estate-focused sites.
If something sounds too good to be true, that’s because it usually is. Be ahead of the game, and know what you should and shouldn’t take into consideration when choosing your lake home real estate agent!

Whiteboard Topics: 3 Easy Ways to Fail at Selling Your Lake Home

Posted on Kamari House
It can be frustrating when your lake home sits on the market for too long. Lake Homes Realty’s CEO, Glenn Phillips, gives 3 reasons your home may not be getting any interested buyers!
  1. Inferior Photos: Unflattering, unrealistic, and a lack of photos of your lake home can turn buyers away from the property.
  2. Unresponsive Listing Agent: An agent that isn’t reliable or responsive to interested buyers will cause you to lose out on potential deals.
  3. Aspirational Price: Although this is a hot real estate market, it’s important to list your hope at a reasonable price. Most buyers won’t show interest in a home that’s grossly overpriced.
There are several reasons your lake home listing has been on the market for so long, but these are issues you can nip in the bud early on!

Whiteboard Topics: 3 Advantages Sellers Get From Hiring a Lake Homes Real Estate Agent

Posted on Linda Thach

Lake Homes Realty’s CEO, Glenn Phillips, gives 3 of the advantages of hiring one of our Lake Homes Realty agents to sell your lake home!

1. National Market Reach: The Lake Homes website is visited by millions of people nationally, which increases your potential buyer pool.

2. Featured on LakeHomes.com: When listed by one of our sellers, your lake home will be one of the first options shown to our site visitors who are interested in your lake.

3. Full Pipeline of Buyers: Buyers tend to take up to two years before purchasing a lake home. With our buyer management technology, our agents are able to stay in touch with all of them.

When selling your lake home, you want to ensure your property will sell in this hot real estate market. The best way to do that is hiring a Lake Homes Realty agent, because of their skill and access to our resources!

Whiteboard Topics: 4 Reasons Why Inflation Matters to Lake Home Real Estate

Posted on Linda Thach
Lake Homes Realty’s CEO, Glenn Philips, explains why inflation has such a big impact on real estate as a whole, and why you need to understand how it affects lake real estate if you’re interested in purchasing/selling a lake home.
  1. Mortgage Interest Rates: The combination of low mortgage interest rates and a steady increase of inflation may affect buyers who typically pay cash for lake homes
  2. Stock $ Impact: Lake home owners are usually also investors, and depending on how inflation is affecting stock value, this could influence whether they keep or sell their homes.
  3. Influence of Headlines: The buzz generated from worlds like inflation can have an impact on how potential lake home buyers/sellers participate in the real estate market.
  4. Investment Value: Real estate is usually a good way to hold investments, so purchasing lake homes as your second home is a viable option.
Knowing how big of an influence inflation can have on lake real estate will help you navigate this market when buying your dream lake home!

Whiteboard Topics: 4 Signs a Lake Home is Grossly Overpriced

Posted on Linda Thach
Buying a lake home can be stressful, especially in this seller’s market, but it’s important to know you’re getting your dream lake home at a reasonable price. Lake Homes Realty’s CEO, Glenn Phillips gives four signs a lake home is grossly overpriced.
  1. Days-on-Market: Lake homes don’t spend too much time on the market, and when they do, it’s an indicator of being unreasonably priced.
  2. Big Appraisal Gap: If the listing price and appraisal have a large gap between them, it’s a clear sign the lake home is overpriced. 
  3. Back on Market: Sometimes, a lake home is back on the market after being listed as pending. This could be due to a buyer attempting to work with the exaggerated price, but realizing it would be a bad investment.
  4. Massive Price Increase: When reviewing the price history of a lake home, take note if there was an alarming increase and whether any renovation has been done to the home to validate said increase.
Never spend more than you have to on your dream lake home. You never have to settle for overpriced properties when you know all the signs to watch out for!