Tag: home selling tips

Whiteboard Topics: 4 Ways to Help Your Real Estate Agent in 2021

Posted on Linda Thach

While real estate agents are here to help you with your lake home, there are some things you can do to make the process easier. Here are four tips to help the real estate transaction go smoothly for you and your agent.

  1. Accept the consequences. Be sure you understand that the lake market is a hot market in 2021. It’s different from other markets and knowing the nuances are important to be successful in the process.
  2. Do your homework. Agents will help you and answer your questions, but you have to know what to ask. Educating yourself and working with an expert agent will keep you out of trouble.
  3. Expert agent. Whether you’re buying or selling, working with a lake expert agent will help you navigate the nuances of each lake. The rules and regulations for each market can be different, so having someone who can guide you through those will help meet your expectations.
  4. Be prepared to buy. Do the prep work to make a thoughtful and competitive offer in a timely manner. You snooze, you lose!

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.

Whiteboard Topics: 6 Tips for Maximizing the Price of a Lake Home in a Hot Market

Posted on Linda Thach

Are you ready to sell your lake home or property? Before you make the move to list your home, here are 6 tips for maximizing the price of your lake home in a hot market.

  1. Plan Beyond Listing. Be sure you have a plan beyond just getting the home listed. Oftentimes, home sellers overlook other factors such as the amount of time it takes to communicate back and forth between agents as well as setting expectations on home offers.
  2. Sale Period. Make sure you appropriately set your sale period long enough to include all potential homebuyers in the market. Keep in mind that lake home buyers are not always local buyers and are oftentimes from out-of-state.
  3. Out-of-State Buyers. Because a large portion of lake home buyers from out-of-state, you need to maximize access to these potential buyers. Make sure you have an agent that is not only knowledgeable about your lake area but also has a healthy pipeline of these highly qualified buyers.
  4. Cleanliness and Staging. A clean and well-staged property is a must if you want to maximize the price of your lake home. If your property is not picture-perfect, you might run the risk of having your property overlooked or having it undervalued by potential homebuyers.
  5. Highest Offer May Not be Best. The highest offer is not always the best offer as there could be many contingencies associated with them. High offers with high risks have a higher chance of falling apart.
  6. Lake Expert Agent. Be sure to have a lake expert on your side. Selling lake property varies by lake and it is imperative that you have an agent that understands the nuances of your lake and lake home.

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.

Whiteboard Topics: 5 Things to Promote When Selling Your Lake Home

Posted on Linda Thach

The pandemic has forced many to change their lifestyles and this includes living spaces as well. So, if you’re thinking of selling, here are 5 things to promote when listing your lake home.

  1. Internet. With more people working and spending more time at home, having reliable high-speed internet access is crucial.
  2. Cell Signal. Many lake homes are located in mountainous or rural areas where cell phone signal might not be at its optimal strength. If your lake home has strong cell signal, this is a feature that is worth mentioning.
  3. Home Office. The pandemic has allowed many people to work from home, therefore a home office is a requirement that most lake home buyers are looking for in 2021.
  4. Extra Storage. Unlike traditional lake homes/vacation homes where people often visit for short periods, living at the lake requires extra storage space for everyday household items and perhaps a garage for a car or other vehicles.
  5. Time to Airport. Travel time to and from an airport is an important factor that many lake home buyers might consider when looking for a lake home. Even though travel has temporarily stalled due to the pandemic, it is expected to resume in the near future.

We hope you find these tips valuable as you venture out on your journey to selling your home. Please feel free to reach out to our lake experts for guidance.

Whiteboard Topics: 4 Think-Ahead Questions for Lake Homeowners

Posted on Linda Thach

Do you own a lake house and are not sure whether or not you should keep it? Here are a few things to consider if you are on the fence about keeping or selling your lake home.

  1. Use or habit? Do you use your lake home on a regular basis? If you find yourself not visiting the lake as often as you’d like, then odds are keeping your lake home is probably not worth the time or money.
  2. Right size? Your kids might’ve moved out or you’ve added a few new family members since you first bought your home. So, the question is: “Is your lake home the right size for your life right NOW?” If the answer is no, then you might want to consider selling it.
  3. Family REALLY use it? Would your family actually use it if it was inherited? Just because you enjoy having a lake home doesn’t mean your family would appreciate it as much as you did.
  4. Duration of peak market? By holding on to your lake home for too long you might run to risk of missing out on the “peak” market. Lake real estate doesn’t always appreciate in value in the short-term interim.

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.

Whiteboard Topics: 5 Early 2021 Thoughts on the Lake Real Estate Market

Posted on Linda Thach

These unprecedented times have changed the way we do business in real estate. Whether you’re buying or selling in 2021, here are 5 early thoughts from Lake Homes Realty’s CEO that you must consider.

  1. Safe Home Showings. Home showings are a lot safer than initially thought. Keeping a safe distance from others and wearing a mask have limited the risk of exposure. Though taking safety precautions such as wiping down surfaces and proper handwashing are still important, having proper air circulation within your property is imperative to ensure a safe home showing.
  2. Step-Up Basis Repeal. The new administration under Joe Biden has proposed major changes to the step-up in cost basis for capital gains tax. This could influence your decision to sell or keep your inherited property. Learn more about the Estate Tax Reform Proposal here.
  3. Buyer Demand. There is a huge demand from home buyers in this current market, but homes are only selling if they are appropriately priced. Be sure to enlist a professional agent to help you properly price your lake home for competing bid offers.
  4. ACT Immediately. Be ready to act immediately. If you find a home that is appropriately priced, be ready to buy because it might not be on the market the following week.
  5. Think Multiple Markets. When buyers are looking for lake homes, chances are they are shopping multiple lake areas in multiple states. If you’re a seller, you must think of selling your property in relation to other markets and price it accordingly. To get the full scope on lake properties in various markets, be sure to download our Lake Real Estate Market Report.

Whiteboard Topics: 5 Reasons to List Your Lake Home Before Spring

Posted on Linda Thach

Are you thinking of selling your home this year? You might think that spring would be the ideal time to sell your home, but we think otherwise. Here are 5 reasons why you should list your lake home before spring.

  1. Lake buyers schedule. Lake home buyers have a different schedule. Because lake homes are not considered a discretionary purchase, the average lake home buyer is not affected by decision-making drivers such as school year cycles, job relocations, etc.
  2. Hot for selling. The lake real estate market is hot right now. There are buyers wanting to buy now and have their home ready for spring.
  3. Economy. The economy is strong right now but during these unprecedented times, the state of the economy is unpredictable. Therefore, buyers are less likely to pay an optimal price or might opt to wait on purchasing their lake home.
  4. Reduced inventory. Lake home buyers are wanting to make a purchase now. If you wait until spring to list your lake home, you’ll be faced with increased competition as more home sellers will be listing their homes as well.
  5. Time Value of Money. Expenses such as a mortgage, utilities, and home maintenance costs could be reduced if you list and sell your home now instead of waiting until spring.

We hope you find these tips valuable as you venture out on your journey to selling your home. Please feel free to reach out to our lake experts for guidance.

Whiteboard Topics: 4 Things to Consider When It Comes to a Guaranteed Sale Program

Posted on Linda Thach

Even though we do not do this as a brokerage, some businesses in the real estate industry may propose a guaranteed offer for your home if they don’t sell it. And while that could be a good opportunity in some cases, here are four reasons why you should be thoughtful when considering an offer like that as you plan to sell your lake home or any other property.

  • Understand. Make sure you fully understand what this offer entails, including the fine print. Some people may assume that if their home does not sell, the company will take their asking price and give them that amount. However, there are usually some caveats to this offer that are not always obvious. Be sure to ask questions and do not be shy — this is your house!
  • Not Full-Price. A “guaranteed” offer is not necessarily a “full-priced” offer. Since there are so many wholesalers who partner with brokerages, these offers are usually discounted. Understand what “guaranteed” means relative to price.
  • Cost of Time. A lot of these deals have timelines where if your home does not sell in a certain number of days, then they will move forward with their process. This means that if that path does not come to fruition or you do not want to take one of the guaranteed offers, you may have to start over with your marketing, thus making your home appear stale since it’s been on the market for a while. Be aware that if everything does not work out, you need to know how much time that will cost you.
  • If It Looks Too Good… This does not mean that anyone is being deceitful, but oftentimes if it looks too good to be true, it just might be. Make sure you know what the offer really is and how it applies to you and your situation. 

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.

Whiteboard Topics: 3 Reasons Why People Are Selling Their Lake Home

Posted on Linda Thach

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.

Whiteboard Topics: 3 Tips for Selling and Buying a Home During a Peak Market

Posted on Linda Thach

In today’s active real estate market, you may want to sell your house but are unsure if you will be able to buy another one with the current inventory shortage. If you’re nervous about being able to buy a house upon selling your own, check out these 3 tips on navigating that situation from Lake Homes Realty’s CEO, Glenn Phillips.

  • Buy First. If you’re not able to support a second mortgage, you may want to find the home you’re wanting to buy, make that deal contingent on the sale of your current home, and provide other incentives to make that deal appealing to the seller.

  • Sell with a Lease Back. This allows you to sell your home and lease it back for a certain period of time with the buyer.
  • Move Twice. Sell your home while the market is at peak pricing, move your belongings into storage, then find somewhere small to rent while you look for your next home.

Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight in today’s lake real estate market and guide you in your home journey. 

Did you enjoy this article? If so, you might be interested in Why Buyers are Investing in Lake Houses During the Pandemic.