Tag: home selling tips

Whiteboard Topics: What Lake Home Buyers Don’t Care About

Posted on Zac Parnell

If your lake home is currently on the market, or it will be soon, it’s important to know key things about buyers. As a seller, you may have certain home transaction qualifications that are important to you whereas these same priorities may not be important to a homebuyer. Lake Homes Realty’s CEO, Glenn Phillips, has some insight into the top 5 things sellers may care about, but buyers don’t. 

  1. What the seller paid: Phrases such as “This is what we paid” usually don’t coincide with what the buyer thinks. They’re looking for the best price. The market will set the price that will sell.
  2. Listed price of nearby homes: What’s listed for and what sells are two different things. You should instead be aware of what the homes are selling for. The buyers are already aware of this. 
  3. Personal effort on customizations: The emotional value put into house might mean a lot to you, but for the buyer the same sentimental feeling isn’t there. You personal style isn’t the same as everyone else’s.
  4. Rumors of outlier high prices: Just because your neighbors sold their home as a high outlier doesn’t mean the circumstances will occur for you. You may have priced higher based off a rumor. 
  5. Taking low offers personally: No offers are worse than a low offer. Try countering the offer and negotiate during the transaction.

At the end of the day, buyers are ready to jump on some great options. You just have to make sure you go about it in the right way. If you’re ever looking for more help, contact an agent at lakehomes.com. They know how to get buyers and are more than willing to help!

Whiteboard Topics: When Is The Best Time To Sell Your Lake Home?

Posted on Kamari House

Selling your lake home isn’t an easy decision, but it may be the right one for you. Lake Homes Realty’s CEO, Glenn Phillips, offers 3 ways to know if it’s time to list your lake home.

  1. Ignore Seasons: Don’t let the change in season deter you from listing your home because the lake real estate market is active year-round. For most buyers, this is a discretionary purchase, meaning, they are not dependent on a time frame.
  2. Personal Goals: Revisit your purpose for owning your lake home, and determine if it’s still servicing your needs. If not, it may be time to make a change
  3. Financial Goals: If generating the maximum return on your investment is important to you, now’s the time to consider putting your home on the market within the next few months.

It can be difficult to decipher the best time to sell your lake home, but with the help of these tips, it’s not impossible. Now you can take on your new real estate journey with confidence!

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: 4 Reasons To Sell A Lake Home This Winter

Posted on Kamari House
Contrary to popular belief, selling your lake home this winter is a great financial move. Lake Homes Realty’s CEO, Glenn S. Phillips, shares why you need to sell before this winter is over.
 
  1. Market Strength (For Now): The market is still at a peak, but this trend could slow down in the coming future. This may be the best time to get the best return on your home.
  2. Buyers are NOT Seasonal: Serious buyers are looking for properties all year-round. Leaving your home from the market during the winter will make it stand out.
  3. Relocation Patterns: There has been an increase in buyers moving from their home states. These buyers are eager to leave now, but this may not last in the coming years.
  4. Coming Interest Rate Changes: Increasing interest rates will inevitably slow down the housing market, so it’s essential to sell your home before buyers get scared away.
Take advantage of the strong housing market this winter before it shifts in the opposite direction. There is no telling exactly when the market will slow down, so you need to be ahead of it!

Whiteboard Topics: 6 Fatal Sins of Selling a Lake Home

Posted on Kamari House
Selling a lake home can be unnerving when you don’t feel prepared to take on the market. Lake Homes Realty’s CEO, Glenn Phillips, breaks down six sins to avoid when selling your lake home.
  1. Too Much Love: How much you love your lake home can lead you to make emotional decisions instead of smart, financial decisions.
  2. Justification of “Facts”: What you consider to be ‘facts’ regarding your lake home, may not be reality. Don’t let these ‘facts’ hold you back from selling your home.
  3. Limiting Exposure: Your potential buyers should not be limited to your local community. Many lake home buyers come from all around the nation.
  4. “Buddy System” Agent: Don’t base your final decision on your relationship with the agent. Unless your friend is an expert, you should find someone who specializes in the lake market. 
  5. Ignoring the Market: Find an agent who is well-versed in the lake market, and has the ability to break down why certain events occur.
  6. Ignoring What I Just Said: Be sure to heed all the warnings given above. Our lake expert agents have local and national reach and can help you with this financial decision.
Don’t let these missteps stop you from selling your lake home. Understanding what to avoid before listing your home will make the process so much smoother!

Whiteboard Topics: 4 Costly Mistakes When Selling a Lake Home

Posted on Kamari House
It’s easy to make costly mistakes when selling your lake home, especially if it’s your first time. Lake Homes Realty’s CEO, Glenn Phillips, gives four tips you should know before selling!
  1. Pricing Too Far Above Market: Pricing too high initially will cause your house to sit on the market. Eventually, you’ll cut the price, and may even get lowballed in the end.
  2. Agent-Only on Friendship: Your selection of real estate agents shouldn’t be limited to your friends. You shouldn’t feel pressure to hire your friend, especially if they are not the right fit.
  3. Agent-Only LOCAL Visibility: You need an agent who isn’t limited to local reach. There are potential, quality buyers across the country, not just the surrounding area.
  4. Not Thinking Nationally: Consider how the price of your lake home competes with other lake homes nationally. Plenty of buyers want the lake lifestyle, no matter the location.
You need to look at the bigger picture before selling your lake home. Choosing the right price, the right agent, and understanding your market will help prevent you from making those costly mistakes!

Whiteboard Topics: 5 Keys to the Fall Lake Home Market

Posted on Linda Thach
The incoming fall season inspires change to the current lake homes market. Lake Homes Realty’s CEO, Glenn Phillips, gives five keys to follow in order to keep up with this fall lake homes real estate market!
  1. Price Growth Peaking: The acceleration in price growth is finally coming to a plateau now that the summer rush is over.
  2. Mortgage Rates MIGHT Matter: Mortgage rates could be a hedge against inflation. Paying off a mortgage with a lower interest rate than inflation rate may be an option.
  3. Inventory to Remain Low: Inventory will most likely remain in low supply, meaning there still won’t be many homes coming to the market.
  4. “Less” Competition: The competitive edge of today’s market will begin to subside, especially because people are losing the extra time they gained in the midst of Covid.
  5. Long Distance Buyers Remain: These buyers should be taken into account when selling, and it’s important to have an agent who can tap into this pool of buyers.
The change in season doesn’t stop the lake homes real estate market, but it does have an effect on it! It’s crucial to stay on top of this shifting market, whether you’re buying or selling a lake home. 

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: 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!