Tag: lake home buyers

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

Posted on Kamari House

When buying a lake home, the average commercial real estate agent just won’t do. Lake Homes Realty’s CEO, Glenn Phillips, explains the benefits of working with Lake Homes agents who specialize in the lake real estate market.

  1. Market Expertise: Lake Homes Realty agents don’t just dabble in lake properties. They specialize in their local lake area, which is essential in understanding the complexities of lake real estate.
  2. Price Knowledge: Our agent’s knowledge isn’t limited to their lake area. They understand the pricing trends of lake properties around the nation, which will help you get the best deal on your dream home.
  3. National Network: If during your search you discover the lake you’ve chosen isn’t for you, our agents can connect you to another Lake Homes agent whose lake you may prefer.
  4. The Lake Real Estate Specialists: We are the lake real estate specialists, which means our agents know the market better than the average realtor. 

When choosing a realtor, it’s important to work with someone who knows the lake real estate market better than anyone else. When choosing a Lake Homes agent, you can rest assured that you’ll be working with the best of the best!

Whiteboard Topics: 7 Tips For Finding Your Dream Lake Home In 2022

Posted on Kamari House

The lake real estate market can be difficult to navigate when you don’t plan ahead. Lake Homes Realty’s CEO, Glenn Phillips, shares 7 tips to aid in the search for your dream lake home.

  1. Be Realistic: A home may not fit every criterion, but that doesn’t mean it’s not a solid choice. Don’t let your new lake home pass you by because of unrealistic expectations.
  2. List Your “Got to Haves”: Shifting your mindset to realistic expectations is essential, but it’s important to make a list of must-haves you refuse to compromise on. Think about what you truly cannot live without.
  3. List Your “Nice to Haves”: Creating a list of wants versus needs allows you to discover what you can compromise on. These bonus items can help you choose between similar homes.
  4. List of “Don’t Care”: Sorting out home characteristics you are indifferent to will help broaden your scope of available homes that fit your other criteria.
  5. List Your “Do Not Wants”: This list will help you determine which homes are automatic no so that you don’t waste time. This market is hot, and you don’t want to spend time on a home you would never buy.
  6. Focus: Pay close attention to the detailed lists you’ve created when searching for your dream lake home. This will ensure you narrow your focus to homes that have potential.
  7. Put Your Agent to Work: Now that you’ve developed these detailed lists, it’s time to put your lake real estate expert to work. You’ve built the perfect roadmap for them to follow while they search for your dream home.

Great things in life come from great planning. It can feel tedious breaking down all of your wants into detailed categories, but being thorough will ensure you find the home of your dreams!

Whiteboard Topics: 4 Dangers Of Buying A Lake Home “Sight Unseen”

Posted on Kamari House

The market is difficult to navigate right now, but that doesn’t mean you should jump on just any home you see available. Lake Homes Realty’s CEO, Glenn Phillips, breaks down the risks of buying a home ‘sight unseen’.

  1. Location Matters: Lake homes have specific qualities to look out for when it comes to location. You need to know things like the proximity to the lake and whether it’s a lake view, lakefront, or lake access property. 
  2. Photos Oversell: With the right photos, any home can look flawless. The only way to get a solid feel of what the home is like is to visit it in person.
  3. Lake Access: Depending on angles and lighting, the ‘lakefront’ home you were expecting could actually be water access. Variables like the season and time of day can also make determining this more difficult without seeing it in person.
  4. Contingency Games: Sellers are becoming more aware of the contingency games buyers may play because they are putting an offer on a home ‘sight unseen’. Participating in these games could lead to your offer being disregarded, or a home with problems you weren’t aware of.

It can seem impossible to secure a home when it feels like nothing stays on the market long enough for you to even consider it an option. However, the benefit of touring a home in person is worth the wait!

Whiteboard Topics: 3 Ways Russia is Impacting Real Estate

Posted on Kamari House

The war between Russia and Ukraine may be a good distance away, but it affects the American real estate market more than you think. Lake Homes Realty’s CEO, Glenn Phillips, shares how could affect your real estate transaction.

  1. Crisis Fatigue: From the pandemic to inflation to the war, all of these back-to-back crises can start to weigh on everyone. This can encourage buyers to buy more lake homes as a way to relax and ‘get away’ for a while. 
  2. Life is Short: With everything going on, people are realizing now more than ever that life is short. Why push off buying your dream lake home when the future is not always promised?
  3. Inflation: An overall rise in prices has been taking the country by storm, and the Russian/Ukraine war will only further expedite this. This could deter buyers from buying, and encourage sellers to sell in order to avoid unnecessary costs.

It can be jarring to know that something happening across the world can directly affect the lake real estate market right here in America. Staying informed will help you navigate the market as it adapts to fit in today’s world!

Whiteboard Topics: 4 Risks of Buying a Lake Home to Rent on AirBnB

Posted on Kamari House

Multiple streams of income are essential, and renting out real estate properties is a classic investment venture. Lake Homes Realty’s CEO, Glenn Phillips, shares 4 risks to consider before buying a lake home to rent.

1. HOA Rules: Relying on the homeowner or real estate agent to communicate the HOA rule can lead to a misunderstanding. To ensure you have the most up-to-date information, contact the HOA directly.

2. City and County Laws: Similar to HOA rules, the city/county themselves may have restrictions you need to be privy to before you invest in a lake home. There may be laws against renting properties that will affect your plans.

3. Zoning Regulations: These potential restrictions can vary depending on which zone of the lake you are in. Again, it’s important that you conduct thorough research on what is allowed regarding short-term rentals.

4. Housekeeping: Reliable housekeeping is very important when conducting short-term rentals. You must take into account the time, money, and consistency necessary to keeping up your property.

Making a profit on short-term rentals is definitely possible, but you have to educate yourself on the risk factors before you invest. Once you are knowledgeable about the pros and cons of renting out lake properties, you’ll secure yourself another stream of income in no time!

Whiteboard Topics: Busting 3 Myths About Lake House Foreclosure

Posted on Kamari House

Buying a foreclosed home may sound like a great idea in theory, but the process may not turn out the way you expected. Lake Homes Realty’s CEO, Glenn Phillips, busts three myths about lake home foreclosures to help settle your expectations.

  1. You can “Get a Deal”: With the market at an all-time high, foreclosed homes won’t be selling as low as they would if the market was down. Banks may even turn a profit after listing a foreclosed home because of the demand for property.
  2. Foreclosures are Up!: Foreclosures may be common in other real estate sectors, but it’s rare to see them at the lake. The general population that owns lake homes is older and more financially stable.
  3. Banks Will Discount Foreclosures: Again the demand for lake property is so high right now, that banks don’t need to discount foreclosed homes. The home market is not crashing, and as we mentioned, banks could likely make a profit off the homes they have in their possession.

You know what they say: if it sounds too good to be true, it’s usually because it is. Before you begin your lake home foreclosure search, you need to know the truth about these properties!

Whiteboard Topics: 4 Reasons To Not Buy A Lake Home Right Now

Posted on Kamari House

Buying a lake home is a big commitment, so you have to be sure the timing is right. Lake Homes Realty’s CEO, Glenn Phillips, shares 4 reasons why you may want to postpone purchasing your dream lake home.

  1. Peak-ish Prices: We are still at the peak of the real estate market. Because of the high demand/ low supply of homes and growing interest rates, now may not be the best time to invest in a home.
  2. Patience Required: Competition for lake homes is at an all-time high which will make it difficult for you to get the home of your dreams. It may be best to avoid the hassle of waiting for the perfect property until demand starts to slow.
  3. Time: Taking on a new lake home is exciting, but it doesn’t come without its maintenance. If you don’t have the time to go between two homes, travel to and from the lake, and do general upkeep, now may not be the time to take on the responsibility.
  4. Chapter of Life: Before you buy, it’s important to assess what chapter of life you are in. Are you ready for a change in pace and to relax by the lake, or are you still heavily involved in your job and other time-consuming activities?

‘Not now’ doesn’t mean ‘Not ever’. Wait to buy your dream home until the market is right, and you feel ready to take on the long-term commitment of lake living. You’ll find that the perfect home is worth the wait!

Whiteboard Topics: 4 Reasons Buyers Need A Lake Expert Agent

Posted on Kamari House

You need to be sure that the home you choose is on a lake that allows you to have the lake lifestyle of your dreams. Lake Homes Realty’s CEO, Glenn Phillips, explains why choosing a lake expert is so beneficial for a buyer.

  1. Unlike Other Property: Lake real estate is a specialized market. Agents that only focus on primary residence homes lack critical lake knowledge that only a lake expert would have.
  2. Regulations: To live your preferred lake lifestyle, you need an agent who can tell you the rules and regulations of the water. Owning a property doesn’t automatically give you the right to make changes or engage in certain lake activities. The rules also vary from lake to lake.
  3. Lake Behavior: A lake’s water level can depend on the season or even the time of day. A lake expert can detail the behaviors of your preferred lake so that you aren’t surprised after you buy.
  4. Zoning and Restrictions: While many lakes have regulations for residents to follow, there may be so parts of a lake that don’t have to follow the same rules. You’ll need an expert from that lake who can show you homes that follow or bypass these restrictions.

Don’t settle for a real estate agent who is unfamiliar with your lake of choice. Working with a lake expert will make all the difference to your buying experience!

Whiteboard Topics: 5 Things Lake Homebuyers Must Know About Mortgage Rate Increases

Posted on Kamari House

Increasing mortgage rates are unpreventable, and have an impact on how you, as a buyer, will purchase your dream lake home. Lake Homes Realty’s CEO, Glenn Phillips, shares five need-to-know factors involved with the rise in rates.

  1. Less DIRECTLY Important: Depending on the size of the mortgage, it can affect the amount of home you can get for the same monthly cost.
  2. Investment Sense?: Buyers are more likely to take out a mortgage for a lake home now when interest rates are still low, and pay it off with ‘cheaper dollars’ in the future as rates increase.
  3. Slow Price Appreciation: No matter the market, lake homes need to be priced appropriately, especially as rates rise. Not many buyers will continue to be enthusiastic to pay such high prices.
  4. Do Not Solve Inventory Shortage: Rising interest rates will not be enough to stop the lake home shortage. This means that although buyer competition has slowed, it hasn’t stopped completely.
  5. Expertise Still Matters: Ensure you are still making a smart investment in this shifting market with the help of a lake real estate expert. 

The market is ever-changing, and knowing what to expect can help you make smart investment decisions. Having a lake real estate expert who knows how to guide you through these rising rates will ensure a smooth buyer experience!