Are you in the process of selling your lake home? If so, one thing you want to avoid is the stress and suffering that can follow by not taking proper steps for a smooth process. Two main reasons lake homes typically don’t sell are lack of exposure and price. Lake Homes Realty CEO Glenn Phillips explains how to maximize this suffering; that way, you can hopefully avoid these mistakes when pricing your home!
After Exposure, Price Fixes Everything – This refers to the price at which the house is sold.
Overprice: If you think of pricing the house because of things you put into it or anything along those lines, think again. That has nothing to do with the market; these are simply wants due to emotional attachment.
Planning “The Haggle”: If you plan to go high so the buyer offers lower, resulting in a middle-ground number you’d still be happy with, you should reconsider it. Our data tells us that homes that are appropriately priced come in at the list price or slightly above. If it’s overpriced, they tend to drop significantly over time.
“Test the Market”: Generally when people test the market, they never figure out how they are going to score it. What is the test? Is it one week? Two weeks? Testing the market usually ends up being an excuse to overprice, and the test almost always fails.
DOM (Days on Market): The longer the home sits on the market, the longer it becomes a problem for consumers.
“Death Spiral”: Consumers are more informed now than at any other time in history. The more things you use, the more likely you are to be caught in this death spiral that is hard to escape.
Nobody wants to maximize their suffering when it comes to selling. If you stick with these different steps, it’ll definitely happen. One of the best ways to avoid this is to price appropriately. If you aren’t sure the best way to go about that, reach out to a lake agent at LakeHomes.com. They would love to be involved in the process with you.
Living life at the lake provides fun, laughter, memories, and more! Even when it comes time to sell, memories will be made in the process. Glenn Phillips, CEO of Lake Homes Realty, goes into detail on why you shouldn’t price in those memories when selling.
“Gateway to Memories”: People buying these lake homes can already picture their own memories that they will be making at the house. Buying a lake home doesn’t come from the need of simply having shelter. It comes from the desire to have these amazing experiences that come along with it.
Whose Memories?: You, as the seller, have important memories at that lake home. While they are important to you, they aren’t that important to the buyer. The buyers are wanting to create their own memories. However, you have an emotional attachment as the seller, making you think it has more financial value. Try to separate that due to the buyer not having that attachment.
Selling? Depersonalize (and Protect!): You have many things in the house that bring memories. You might want to put these things away; that way, it gives buyers a different feel to the home. You should also protect those valuables. You don’t want something happening to them while buyers look at your home.
Buying is Desire: You want to do things to where you aren’t pricing in memories. However, make it a way for the buyers to imagine creating their own memories in the house.
Selling is a Business Transaction: Think of your lake property as a stock. If you bought a stock at a certain price, it doesn’t necessarily matter. At the end of the day, it’s what the market says it’ll pay. You can always enjoy the memories later and not price how you feel depending on the memories.
Pricing a lake home can be difficult, especially when you begin to think of all the memories made there. If you’re still struggling with this today, reach out to one of our lake market experts at LakeHomes.com. They know the ins and outs and would be more than willing to help you in the process.
When you think of selling a lake home, or any home for that matter, you probably think of negotiating. Whether you’re great at it or if your skills could use a little practice, it’ll probably come into play. Lake Homes Realty’s CEO, Glenn Phillips, goes over 5 key tips for when the time of negotiating arrives.
Any Offer is Better than NO Offer!: Don’t get upset because somebody made a low offer. The people you should be upset with are the ones who didn’t make an offer at all. Having a low offer just means you have some started.
Don’t Get “Stuck” on Single Points: In negotiations, don’t let one thing hold you up. You should let it ebb and flow.
Agent Commission: You want an agent who brings their value.
Seller’s Compensation: If the buyer has made an offer and wants some compensation to help cover costs, figure out how that fits in.
Closing Costs: Similar to the seller’s compensation, find out how this will fit in with the negotiations.
Personal Property: Is there a boat, interior decor, whatever it might be, there is a way to find opportunities to help make the other party happy.
Cash Only Means Less Closing Risk: If the buyer makes a big deal about it being a cash offer, from the seller’s perspective, cash offers only matter if it is de-risking the deal. If you’re selling, you’re getting cash from somebody regardless.
Restructure Offers: Being able to find ways to work with the offer or make it mutually beneficial can help more than people might realize.
Be Creative: You can come up with some angle for a home that people might not think of. There are plenty of ways to be creative to help everyone.
Negotiating is something that comes along with buying or selling a home. However, if you take these tips into consideration, it can truly help with the process. As always, if you’re looking for more information regarding negotiating or have any other real estate questions, reach out to one of our lake experts at LakeHomes.com.
“What’s in a name? That which we call a rose by any other name would smell just as sweet.” As suggested in this line from his famous play, Romeo and Juliet, William Shakespeare argues that a name is a convention used to distinguish people or objects that would otherwise have no other meaning or worth. This holds true for what you are about to discover with some of the names given to the lakes found here on LakeHomes.com.
As we inch closer to Halloween, we’ve compiled a list of lakes with spooky names that will give you goosebumps and have your imagination running wild. Are you ready to be spooked?
When the name Blood Pond is spoken, one can’t help but envision a vast pool of red where a beautiful lady emerges from its depths beneath the dark moonlit sky. Those familiar with the tale of Lady Bathory know all too well how the name could evoke such imagery. In fact, the locals have petitioned to have the name changed, fearing that it might negatively impact local tourism. However, Blood Pond has had no history of violence that comes remotely close to that of the tale of 17th-century Hungarian serial killer Countess Elizabeth Bathory.
Blood Pond Facts
Encompassing only 20 acres and with a maximum depth of 20 feet, Blood Pond is the go-to lake for those seeking privacy and seclusion. Not to say that the lake is without visitors; the lake’s size doesn’t accommodate the party atmosphere you would otherwise experience at a large lake. The abundance of fish makes this lake highly appealing for anglers, while its picturesque landscape makes for the perfect getaway for nature lovers and outdoor enthusiasts.
Attractions Around Blood Pond
The lake is a popular destination for anglers looking for a fresh catch, while campers and glampers flock to the nearby campgrounds to experience nature’s full splendor. Those looking for a glamorous retreat often visit the Mountain View Grand Resort and Spa, nestled amidst the picturesque White Mountains, only a few miles south of Blood Pond. Here, adventure seekers can indulge in many outdoor pursuits, including hiking, mountain biking, cross-country skiing, and whitewater rafting. At the same time, those looking for a relaxing escape can take advantage of the resort’s wellness services, such as facials, massages, a fitness center, water aerobics, and yoga classes.
Not to be confused with Sleepy Hollow, the infamous town that serves as the backdrop for The Legend of Sleepy Hollow, Sleepy Hollow Lake is a man-made lake located approximately 100 miles north of the village. Those looking to catch a glimpse of the legendary Headless Horseman in this area will be disappointed.
Sleepy Hollow Lake Facts
This 2.5-mile-long private lake is considered a hidden gem in upstate New York. Nestled along its shores is the lake home community of Sleepy Hollow Lake. Private residents of this community enjoy breathtaking lake views, a marina and boat launch, a community sports complex, and more! The lake is not limited to only the residents of Sleepy Hollow Lake, the majority of the 326-acre lake is open to the public.
Attractions Around Sleepy Hollow Lake
Those visiting the area can enjoy outdoor activities at the Catskills State Park or take a scenic drive on the 52-mile Catskills Mountains Scenic Byway. For visitors looking to experience riverboat cruising, the Hudson River, which runs adjacent to Sleepy Hollow Lake, offers river cruise excursions. This is particularly popular in autumn when leaf-peepers can experience the vibrant colors of the New England area’s fall foliage.
Lodging options in the area are plentiful, varying in price and amenities. But for those interested in a unique lodging experience, A Tiny House Resort, a family-owned, 45-acre, tiny cabin rental community located in the Catskill Mountains, is a great option. With a total of 15 tiny houses to choose from, some home options are waterfront, and some have water views and wooded views; the pet-friendly, camp-style resort features a mile of creek frontage, a waterfall, and an art studio.
Even though the Salem Witch Trials in 1692 occurred in Massachusetts, the incident nonetheless rocked the entire New England region. A series of events, which include a smallpox outbreak and ongoing threat of attacks by Indigenous tribes, along with a strong belief in the devil and rivalry with nearby Salem Town, laid the groundwork for accusations of the practice of witchcraft among the inhabitants of the small village. A total of 150 men and women were imprisoned, 19 people were hanged, one man was pressed to death, and five people died in prison.
Contrary to what the name suggests, there is no evidence of any connection between the Witches Woods Lake area and the Salem Witch Trials or any witches, for that matter. According to the Witches Woods Tax District website, this is the story of how the lake got its name:
One evening, several handymen working on the construction of a hotel were returning home from picking up provisions from the nearby town of Putnam. While en route, the wagon’s rear wheel fell off. The men unhitched the horses and headed for the hotel for assistance, leaving the wagon behind. When they returned to the site, they discovered that the wagon had been overturned and the supplies thrown into the swamp. The handymen claimed that the “witches did it.” And that is the story.
Witches Woods Lake Facts
Located in Woodstock Valley, CT, this 70.4-acre lake offers water activities such as fishing, waterskiing, tubing, boating, kayaking, canoeing, and paddleboarding. For a more laid-back lake experience, the lake has two beaches, one on the east and the other on the west side of its shores, where visitors can sunbathe and enjoy family-friendly beach activities.
Attractions Around Witches Woods Lake
If you’re looking to take a break from the lake, Woodstock has many local attractions and hotspots, including Roseland Cottage, a Gothic Revival-style home built in 1846. The house is a popular tourist destination, offering visitors insight into the 19th-century American lifestyle through home tours and cultural events. Other local attractions and recreations include the Taylor Brooke Winery and Brewery, Roseland Park and Golf Course, and numerous hiking trails.
The devil goes by many names: Satan, Lucifer, or Diablo, just to name a few. Whether you believe in him or not, nevertheless, he remains a familiar figure in both religion and literature as the master evildoer and the father of darkness. Devil’s Lake might conjure visions of his earthly lair hidden deep within its depths, or perhaps it serves as a portal to his underground realm, otherwise known as Hell.
Devil’s Lake was originally named Tee Wakącąk or Te Wakącągara, which means Sacred Lake by the Ho-Chunk People because it was believed to be a place with spiritual significance. However, through misinterpretation and mispronunciation of Te Wakącąk, the lake came to be known as Devil’s Lake.
Devil’s Lake Facts
Nestled in the Baraboo Range, approximately 2 miles south of Baraboo, WI, Devil’s Lake is one of the primary attractions of Devil’s Lake State Park. Not only can visitors enjoy numerous lake activities, including scuba diving, kayaking, paddle boarding, and fishing on the 360-acre lake, but the park offers many outdoor activities, such as hiking, rock climbing and bouldering, skiing, sledding, and more.
Attractions Around Devil’s Lake
Known as ‘America’s Dairyland,’ a trip to Wisconsin isn’t complete without a visit to one of the many cheese farms in the state. Carr Valley Cheese has a few locations within close proximity to Devil’s Lake. If wineries and breweries are your style, visit Driftless Glen Distillery and Tumbled Rock Brewery, located just north of Devil’s Lake in Baraboo. A few miles south, you’ll find Wollersheim Winery & Distillery. These places offer tastings and tours and are highly rated!
When you’re ready to check in for the evening, your lodging options include campgrounds, cabins, and hotels. But if you’re looking for mountainside charm with incredible views, a stay at the Inn at Wawanissee Point is a must. And if breakfast is your favorite meal, you’re in for a treat. From homemade pastries to egg frittatas to French toast, the Inn’s gourmet breakfast is made fresh daily with locally-produced eggs and meats and award-winning Wisconsin cheeses.
Halloween — a time when history and stories intertwine with the supernatural, often leading to blurred interpretations between reality and folklore. Now that we’ve demystified the myths and legends behind these spooky lake names, it’s time to book a trip to experience for yourself what these lakes have to offer!
Has your house been sitting on the market for some time? Have you also been questioning if it’s the price, the exposure, or maybe even the agent you’re working with? When it comes down to it, it could be the agent, or it might not be. Glenn Phillips, CEO of Lake Homes Realty, breaks down the 2 main reasons your house might still be on the market.
Exposure: Is your property known? Are people able to find it on the market? If the property has been on the market for a minute and nothing seems to be moving, you need to look at the exposure and see if your agent has done what they need to.
A) Quality Staging & Photos?: You need genuine, quality photos. Not photos that can be misleading for potential buyers.
B) On The MLS?: You can’t sell a secret. If you’re not willing to make your property be viewed by the public, more than likely, it’ll be harder for it to sell.
C) Syndicated?: After your home is on the MLS, it being on other portals can significantly help with this. This will help reach a much wider audience.
D) On LakeHomes.com?: We’re members of MLSs all across the country and can extract data to put it on there. Listing homes with us, in turn, makes it a featured property on our website.
Price: If you’re utilizing all the above steps, the only other reason for it not selling is price. Price fixes every other problem besides exposure. It fixes location, repairs, water lines, location on the lake, etc.
A) Getting Offers?: If you’re getting offers, your agent has done well. It might not be the offer you want, but what you see in the value of your home.
B) Getting Showings?: If you’re getting showings, then your agent is getting people in the door. Ultimately, this also means the exposure is working.
C) Agent Getting Questions?: Again, this means the exposure is working. This comes back to your agent doing a good job, but it is coming down to price.
More Exposure Never Fixes Price: Just because you try to market better does not mean this will take away from it being a price issue.
The bottom line when it comes to selling, price fixes most things! When selling a lake home, it is key to have an appropriately priced home, along with good exposure tactics. If you would like guidance or even someone to ask questions about this, contact one of our lake experts at LakeHomes.com today!
There are many things that you should do when selling a lake home. It could be some updates around the house or even some bigger tasks to enhance curb appeal. However, you might be wondering if replacing the roof is worth it. Lake Homes Realty’s CEO, Glenn Phillips, discusses whether this task needs to be done.
Your Lake Home Needs a New Roof: Does your home actually need the roof replaced or is it just something you think needs to be done? Sometimes it might just be something you only believe is necessary.
New Roof Does NOT Increase Value: Some people might think if you replaced the roof you can add more money to the price. It doesn’t really work that way. Buyers are expecting a functional roof when looking for a home.
Old Roof Decrease Value: However, on the opposite side of things, having a roof that does need replacing or isn’t really functional will decrease the value of the home. Just because a new one doesn’t bring up the value doesn’t mean an old one can’t drop it.
Lenders May Require a New Roof: After a home inspection and appraisal, these lenders might require a new roof to be added. This lowers the risk of the asset.
Your Choice – Spend or Discount: When everything boils down to it, it’s ultimately your choice. You either spend the money on a new roof if needed or discount the price due to not replacing it.
At the end of the day, you might have more questions similar to this. One of the best ways to obtain this information is by reaching out to an expert at LakeHomes.com. They would love to provide the assistance you might need!
Puget Sound isn’t the only popular lake in the Pacific Northwest. Located between north-central and northwest Washington, Lake Chelan stretches 55 miles between the Chelan mountains. Fed by the glacial Stehekin River, it’s a narrow fjord-like lake with an impressive depth of 1,486 feet, making it the third deepest lake in the U.S. From its stunning geography to its abundance of recreation, Lake Chelan is truly something special. If you’re interested in visiting or buying lake property here, check out these fun things to do on Lake Chelan!
Like on most lakes, fishing is an ever-popular activity on Lake Chelan. However, many anglers find fishing to be more abundant and picturesque at this PNW lake than in other lake areas across the country. Bass, Chinook salmon, kokanee, and rainbow trout are particularly popular. In these waters, reeling in a 20-pound fish is not incredibly rare, although the average weight is between 6 and 10 pounds. Several times, Lake Chelan has broken the state lake trout record, most recently in February of 2013 with a fish weighing 35.63 pounds.
The only thing better than a gorgeous lake surrounded by mountains is enjoying the view with a glass of vino! The Lake Chelan Wine Valley boasts award-winning wines from more than 30 wineries and tasting rooms. Depending on the time of year, a variety of events happen in the wine valley that are perfect for wine lovers—or anyone who loves stomping grapes. Since many people consider the Clean Wine Valley to be on par with California’s famous Sonoma Valley Wineries, it’s certainly worth a visit.
Since Lake Chelan features various hidden parts along its long, narrow shoreline, there are few ways to discover all this lake’s secrets. On the Lady of the Lake, you’ll get the full tour of Lake Chelan, even those hard-to-reach places that you can only access by hiking. Originally built in 1900, this boat was designed to transport passengers from the south to the north part of the lake. Choose from multiple tours to get the experience you want! The sailing schedule changes according to the season, so be sure to check their website for updates.
Check Out Slidewaters
For many continuous years, Slidewaters has been rated among the top 15 waterparks in the U.S. Located in the Lake Chelan area, this spot consists of several waterslides, a 500-foot-long lazy river, and a play area for young children. The area also includes an arcade, picnic area, and gift shop. Although this classic waterpark is temporarily closed during the “off” seasons, it’s a highly popular destination during the summer months on Lake Chelan.
Ultimately, if you’re looking for a gorgeous natural lake in the Pacific Northwest, Lake Chelan is a perfect spot. With gorgeous mountain views and plenty of activities to do, you’ll feel relaxed and right at home.
Someone’s real estate journey is more than likely going to warrant some questions. Even if you might have a good chunk of knowledge when it comes to real estate, the lake market can be different. Before you start any process of buying or selling, you should think about some questions you might have. Luckily, Glenn Phillips, Lake Homes Realty’s CEO, discusses what you should really be asking your lake real estate agents.
Which Agent…: Questions along these lines are some you might think you need to ask or get an answer for, but in actuality, they aren’t the important ones.
A) Has The Most Listings?: You might think finding the agent who has the most listings is the agent you want to work with. However, just because an agent has many listings doesn’t mean they’re being sold. You can find an agent who has a lot of listings while also selling those listings.
B) Do I Personally Like?: Everyone likes someone with whom they can get along, but that doesn’t mean that’s the agent for you. While you should find someone you can get along with, it’s more important to find an agent who will help guide you through this big transaction.
C) Has an Office Nearby?: This point is something that matters to sellers on occasion. But when it comes to buyers, they don’t necessarily care. Buyers are able to search online and don’t need an office to go into. A buyer wants to see the house, not an office.
Questions You Should Answer:
A) MOST Capable of Helping Achieve MY Goal?: One of the most important questions that should be answered is which agent will help you with your goal. You’re the one making the transactions and your goals are what’s important.
B) All Agents the Same?: Not all agents are the same. You should be looking for the ones who are equipped to handle your needs and what you are looking for.
C) Focused on Lake Real Estate?: Similarly to the previous point, find the ones who have the focus. Working with a lake market expert is what you want during this process. Any other agent you should exclude. Lake agents know the ins and outs that other agents simply wouldn’t know.
D) Can Prove a Pipeline of Out of Town Buyers?: If the agent can show you that they have people coming from out of town to buy, you should keep note of that. This is a good thing as it brings people from outside the local market looking and buying.
Simply put, certain questions are more important to ask a lake agent. You might think you’re asking the correct ones, but some of them require a lot of expertise. If you’re ready to start asking the questions, reach out to a lake expert today at LakeHomes.com. They would love to help you on your real estate journey.
Summer is winding down and so is the height of lake season. As we head into the fall and winter months, you might be wondering what the lake home real estate market is going to look like. You might be asking yourself if it is a good time to buy or sell, should you wait until warmer weather, or just how everything looks. Lake Homes Realty’s CEO, Glenn Phillips, breaks down how things are looking as we head into these cooler months.
Inventory Growing (Selection!): Going into the fall, the inventory is growing. This is a good thing because ultimately you have more selection. While there are still plenty of overpriced homes, slowly these prices could drop as inventory continues to increase.
Mortgage Rates “Sort of” Irrelevant: There have been discussions about the dropping of mortgage rates. However, these are almost irrelevant when it comes to lake real estate. More than half of the transactions the agents at Lake Homes Realty do are done in cash. This has more to do with the buyers’ sentiment towards mortgage rates. Most of the time, lake home buyers can typically afford the mortgage.
Buyer Demand Strong but Hesitant: The traffic coming to LakeHomes.com is there.
A. Discretionary: The buyers aren’t buying unless they really see what they are looking for.
B. Selective: Price is one of the biggest things buyers have been selective on.
C. Distracted (Election, Holidays): Every 4 years the buyer population gets distracted due to the election. Not to mention holidays when more people are busy with many other things. This can result in a slower rate of buyers.
Realistic Transactions Move Quick!: The lake homes where pricing is realistic are moving quite quickly. The growing inventory tends to be the ones that aren’t priced accordingly.
As we continue to make our way into the fall season, just remember you can still buy and sell. If you’re planning on selling, price properly. If you’re looking to buy, the inventory is growing, so keep looking. As always, there are plenty of lake real estate experts always ready to help. If you would like to connect with one today, head over to LakeHomes.com to find one for you!
