Lake home sellers use some common phrases that may end up costing them money. Glenn Phillips, CEO of Lake Homes Realty, discusses 4 things lake home sellers say that could backfire.
“Let’s leave room for negotiations.” No matter what price you set for your house, the buyer will always try to meet you somewhere between your price and their price. Additionally, appropriately priced homes sell quickly and don’t sit on the market. Intentionally overpricing causes frustration and costs you money by having your home sit on the market.
“We can reduce the price later.” Lake Homes Realty data suggests that overpriced homes don’t get offers and sit on the market. Overpriced homes also cause contention with your agent, as you believe they aren’t doing their job well. Once you start reducing your price, you’re training buyers to offer lower than the list price.
“This is the price I need so I can…” Often, sellers price their home with the intention of paying for a trip, debt, or some other expense. However, this has nothing to do with what the market says. Buyers don’t care about what you want to buy with the transaction money. Your home will only sell for what the market says it’s worth, not what you need to pay for something else.
“I really don’t have to sell.” Listing a home costs everyone involved time and money. If you don’t have to sell, then don’t. Playing around with the market costs you and other people a lot of time and money.
These common phrases often cost sellers extra time and money. Selling a lake home is a business transaction, so you should treat it like one. Visit lakehomes.com to connect with expert lake agents ready to guide you through lake real estate.
When you’re trying to find a real estate agent, you want to ensure you’re getting the best representation possible. Glenn Phillips, CEO of Lake Homes Realty, discusses a few things agents believe aren’t really true.
“I work at the largest brokerage in the area.” Agents working for a large local brokerage are working alongside their competitors. Large brokerages make agents feel comfortable by bringing in a large number of agents. Large brokerages don’t make a difference for consumers, as their home gets listed no matter what.
“My listings appear on thousands of websites.” Homes listed by any agent in any market across the country are syndicated to thousands of websites. Unless the property is being hidden and not advertised on the internet, it will appear on thousands of websites.
“I earn stock in my publicly traded brokerage.” This is a common tactic for retention and recruiting agents. However, you can invest in the brokerage yourself if it’s publicly traded.
“The ‘serious’ clients will leave a message.” People don’t want to leave messages anymore. If they get sent to voicemail, they’ll keep calling around until someone picks up. Great agents answer the phone even if it means dealing with spam.
Like anybody else, agents often believe things they do work when they don’t. Watching out for these sayings can help you find the best agent for you. If you’re looking to buy or sell, visit lakehomes.com to connect with expert agents who are ready to help you through the process.
Heading into 2025, you might consider buying or selling a lake home. Glenn S. Phillips, CEO of Lake Homes Realty, shares 5 helpful reminders about lake real estate in 2025.
Price Includes Location. Many lake home buyers, particularly first-time buyers, don’t realize the impact of the lake location on price. You may not be able to get the same amount of house at the lake as you would in your neighborhood because of the location.
“Sellable” Inventory is Limited. Over the last several months, the number of homes listed for sale has increased, and there’s also a lot of demand. However, since these homes have been sitting on the market, they aren’t appropriately priced. Many sellers are listing at aspirational prices to get a lottery ticket price. This means “sellable,” or appropriately priced, inventory is actually limited.
Prices Are Roughly At Peak. Throughout 2024, price appreciation became fairly limited. Lake home prices aren’t expected to significantly rise or drop.
Discretionary Product. Nobody has to buy a lake home for shelter. Unlike typical residential property, buyers can wait until they find what they want. This is also true for sellers. Lake home sellers generally aren’t in a rush to sell, so they can hold onto the property longer.
Niche Expert Agents Matter. Lake homes come with different contingencies that primary residential properties don’t have. Additionally, discretionary lake home buyers come from cities and states away. Expert lake agents can navigate this market and expose homes to nationwide buyers.
Lake real estate can be a tricky market to navigate and understand. With these tips, you’ll be better prepared to buy or sell your lake home in 2025. Visit lakehomes.com to connect with expert lake agents who are ready to help you navigate this market.
Selling your lake home is a big deal, so you’ll want to do it right. Glenn Phillips, CEO of Lake Homes Realty, discusses 5 mistakes made by lake home sellers.
What Seller Paid for the Property. Similar to stocks, you often can’t sell your lake home for exactly what you bought it for. The buyer doesn’t care about how much you paid for the house years ago.
Price of Listed (i.e. Unsold) Homes. If the listed homes were priced right, they would be sold homes. When these homes sit for a while, it should be a warning about the price. Your neighbors aren’t getting that number, so it’s unlikely you will, too.
Seller’s Blood, Sweat, and Tears. Oftentimes, sellers get caught up in what they’ve done to the property or the memories they have there. However, buyers aren’t interested in those things; they care about the house’s value, according to them. In fact, sellers often intend to remove additions to the home the buyer made, creating negative value.
Outlier Sales. When a home sells for a fantastic price, sellers often want to get that price themselves. However, the price alone doesn’t tell the whole story of that transaction. There could be things like closing costs, additional property, and more that the price included that make the price deceptive.
Taking Offers Personally. Even if the “low” offer is fair, but under the listed price, you can’t get offended by it. A low offer is better than no offers. Low offers open the opportunity for discussion about prices that no offers don’t allow for. Keep the discussion going, and try to land that transaction.
Lake home sellers can often make mistakes when they aren’t familiar with lake property. Using these tips can help guide you to a better transaction. Visit lakehomes.com to connect with expert lake agents ready to guide you through the lake market.
Looking back at the past year, we’re excited to present a selection of our most popular and thought-provoking articles from 2024. These pieces have ignited discussions, fueled creativity, and offered valuable insights on a range of subjects. Whether you’re exploring current trends or revisiting our standout content, we trust that you’ll find these articles both informative and inspiring. Cheers to the new year! We can’t wait to bring you more compelling stories about lake living in 2025!
Looking to take your pontoon boating experience to the next level? Check out these 5 must-have accessories that will make your time on the water even more fun for you and your guests! MORE>>
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The lake real estate market is a unique type of market. Glenn Phillips, CEO of Lake Homes Realty, discusses six things to know about this niche real estate market.
Unofficial Recession. Homes aren’t moving in the current market. Across the entire industry, it will be the lowest number of transactions in almost 30 years. This trend also applies to lake property.
Inventory Has Grown. More houses are on the market, so it looks like we aren’t in a recession. However, despite the strong demand for these houses, people won’t pay current prices.
“Phantom Inventory.” This is inventory listed at a price that buyers aren’t willing to make an offer on. Sellers set these aspirational prices to get their homes sold at their lottery ticket price.
Aspirational List Prices. You likely won’t get any engagement if you sell and list for an aspirational price. In fact, it damages how much money you’ll get over time. Once a home has been on the market for a long time, buyers begin to wonder if there’s something wrong with the house.
Prudent Buyers. Lake home buyers want what they want but aren’t willing to overpay for it. Prudent buyers and aspirational list prices create this unofficial recession.
Next: No Boom, No Bust. Lake real estate won’t experience more inventory to change pricing. Additionally, the lake market won’t bust with changing mortgage rates. So, lake real estate will be steady, with the same prices. Inventory will also loosen up a bit, with sellers becoming more practical and prudent buyers becoming impatient.
Lake real estate has several nuances that are not present in other real estate markets. With these tips, you can more successfully navigate this market. Visit lakehomes.com to connect with expert lake agents ready to help you.
If you love ice skating and the great outdoors but haven’t experienced skating on a lake, you’re missing out. There’s no better feeling than gliding freely on ice while taking in the cool, fresh air. But luckily for us who live on the lake, this is an experience we’re fortunate to be able to enjoy in our backyard.
In cold-climate regions, due to lake stratification patterns, a solid layer of ice on top of cold-weathered lakes makes this sport possible. At Lake Homes Lifestyles, we’re all about the lake life, whether fishing in the summer or ice skating in the winter. In honor of one of our favorite winter activities, check out these top ice-skating lakes across the globe.
Located in the province of Alberta, this gorgeous lake is surrounded by mountains on all sides. Due to these natural wonders, some have referred to it as “Banff’s best-kept secret.” However, as a heads up, Two Jack Lake is not an official skating area, and it does not have skate rentals or Zambonis. As such, you’ll need to bring your own skates and be more cautious approaching the lake. If you’re looking for a more formalized selection of ice-skating lakes, check out Lake Louise in this same province.
When deciding which of the many ice-skating lakes in Europe to visit, this great lake is certainly one to Czech out (pun intended). Located in the market town of Frymburk in the Czech Republic, this lake is situated right by a comfortable resort. But don’t underestimate its cozy vibes for lack of impressiveness. Lipno Lake is actually the longest natural ice-skating track in Europe, stretching six miles in length — enough for multiple skating days without redundancy. As you skate by, you can enjoy amazing views of cute towns and snowy mountains emblematic of central Europe.
As a country, Sweden is one of the most popular ice-skating destinations worldwide. And if you’re looking specifically for ice-skating lakes, look no further than Lake Vanern, the largest lake in Sweden and the third-largest in Europe. Its size stretches across three provinces: Vastergotland, Dalsland, and Varmland. Instead of overly manicured scenery, this lake boasts rustic, natural beauty and amazing sunsets. What could be more picturesque as you skate along this lake?
When it comes to ice-skating lakes, Shichahai Lake is probably the most fun-filled lake. There’s a reason this Beijing lake is so popular with children. Home to an 18-foot-long ice slide, ice bumper cars, ice boats, and ice chairs, there’s no limit to the excitement on this lake in the winter. If you decide to visit, the shorter days are no worry. Night skating is available, and there are plenty of surrounding lights for safety.
Located here in the U.S., Keystone Lake, Colorado, is the largest Zamboni polished outdoor rink in North America. And even better, it’s located on a natural lake. Suppose you visit without bringing your own ice-skating equipment, no worries. At this impressive, beautiful lake, you can rent skates for the day. If you’re into hockey, you can also rent pucks and hockey sticks for a game with friends. After a full day of enjoying the ice, you can check out the nearby Adventure Center for a cup of hot chocolate.
When selling your lake home, and especially when setting your price, you need to think like a buyer. Glenn Phillips, CEO of Lake Homes Realty, shares a few questions to get you in the buyer mindset.
“Would I Rent This?” Think about whether or not you would rent your property for a week if you saw it on rental websites. Try to take emotion out of your thinking and act as if you’ve never seen it before.
“Would I Rent This Again?” After asking yourself if you would rent your property, ask if you would rent it again. Think about if your house has things that would make you come back over other lake properties.
“Would I Pay More Than List?” Before setting a price, ask yourself if you would pay more than the price you plan to list.
“Would I Buy at This Price?” You should also consider if you would pay the current list price of the property. The price you paid for the house a few years ago is probably relatively the same, if just slightly higher.
“Is it The Best Value In This Market?” The best value doesn’t necessarily mean the lowest price. Working with an expert lake agent helps you determine if your property is the best value in your market. Additionally, you want your property to be the best value compared to other lakes.
When It Doesn’t Sell, You Won the Bidding! Every day your property doesn’t sell, you win the bidding by getting to keep it for another day. This can help you determine if you need to change your mindset to a buyer’s perspective.
Selling your home can be challenging if you don’t have the right mindset. Using these questions and guidelines helps you to think like a buyer and get your lake property sold. Connect with expert lake agents at lakehomes.com and sell your home faster.
Sellers often get confused when their lake home doesn’t sell. Asking questions helps to get rid of the confusion, but some questions are better than others. Glenn Phillips, CEO of Lake Homes Realty, discusses questions to avoid asking when your lake home doesn’t sell.
“How Many Views?” Sellers ask how many views their property has, but this can be deceptive. There’s no good answer to this question for sellers. If a property has millions of views, they’ll wonder why it hasn’t sold. If it doesn’t have any views, they wonder why it’s not getting exposure. The only number of views that matters is the one that buys the property.
“Can We Promote It ‘Better’?” Some agents promote homes better than others, so this can be a valid question. However, if the property is populating in the MLS and other websites, the consumer knows it’s there; they just aren’t willing to buy it.
“Have an Open House?” Buyers for lake homes typically come from some distance away. This means they won’t arrange their weekend around your open house schedule. They know if your home is for sale and they’re coming into town, they can see it.
“Should I Change Agents?” Has your agent properly promoted and priced your home and given sound advice? If they’ve done all this, you probably already have a good agent. Once they bring the buyers, it’s on you to get the negotiating going.
After Exposure, Price Fixes Everything. When asking yourself why your house hasn’t sold, the answer is almost always the price. An appropriate price will answer all of these questions.
Be the Best VALUE. This doesn’t necessarily mean the lowest price, but being at a price that people are willing to invest in your home. Buyers are ready to buy lake homes but aren’t willing to overpay.
Talk with your agent when confused about why your lake house isn’t selling. Every agent would bring a buyer if they knew one that would get a transaction. An unsold home always boils down to price. Visit lakehomes.com to connect with expert lake agents ready to help get your home sold.
