If you’re looking to buy or sell a lake house, you may wonder if it’s necessary to pick an agent with a physical office. Contrary to popular belief, brick and mortar isn’t necessary to sell a home. Lake Homes Realty CEO, Glenn Phillips, gives 6 reasons why your lake agent doesn’t need an in-person office.
The office isn’t relevant in a digital world
Time is precious, and office meetings take time from viewings
Many top producing agents work more effectively without a physical office
Offices don’t sell houses — agents and brokers do
Buyers enjoy the convenience of an online platform
Money spent on office leases could be spent helping clients
Just because an office environment is familiar doesn’t mean it’s the future of real estate. The best agents can do their work anywhere. Find an agent today at Lakehomes.com to have your questions answered.
Are you thinking about using a mortgage to buy a lake home? Since interest rates are low, it’s a good time to use a loan. However, mortgaging a home comes with unusual considerations during the pandemic. Lake Homes Realty’s CEO, Glenn Phillips, names these 4 mortgage challenges to keep in mind:
Money is not easy or fast
The process requires extra verification
The pre-approved letter doesn’t matter as much as it used to
It’s important to take extra time in the process
When you’re ready to buy a lake home, visit lakehomes.com and check out our daily listing updates.
Especially during the pandemic, many people are considering buying a lake home for social distancing. If this is you, Glenn Phillips, Lake Homes CEO, has some tips. First, set appropriate pricing expectations, keeping in mind that the lakeside location may add to the home’s cost. Although a market peak should keep prices from further escalation, appropriately-priced property is hard to come by, so it can help to seek multiple lakes for your dream home. When you find that home, be sure to act quickly because other buyers are looking, too. Finally, when buying a lake home, it’s best to seek out a Lake Homes agent with local expertise.
COVID-19’s impact on many businesses has brought on significant changes to rules and regulations that can be seen on a global scale. The real estate industry is also having to change to meet the needs of its buyers during these times of uncertainty.
In this video, Glenn Phillips, CEO of Lake Homes Realty, discusses the types of buyers you’ll find in the present COVID-19 marketplace. Learn how to navigate the delicate new economics of real estate in this exploration of buyers.
Every dream home has some quality that makes it distinct. That’s why we’ve compiled a list of the top five featured home listings in the state of Alabama. Each listing must meet a few qualifications: it must be listed at over $1 million as a featured listing of Lake Homes Realty, be over 4,000 square feet, and located on waterfront property.
Each home has interior and exterior details that make it stand out among other houses. They each have an element of charm, beauty, or uniqueness. Some offer vintage and imported features, while others have entertaining spaces that would make anyone envious.
Imagine that you’re looking to buy your first house or apartment. More than likely, it’s in an urban or suburban area, and the most picturesque views that you’ll get is of your neighbor’s backyard or the recycling bins outside. But of course, it has its benefits — it’s near work, it’s close to the city, and it’s just practical. Perhaps thoughts of a luxurious lake home seem more like a pipe dream than a reality. Something to save up for and wait several years before even thinking about it. But who says that you have to postpone your lakeside living fantasies?
According to CNN, there’s a rising trend of people buying vacation houses as a first home. For many new homeowners, this method is the ideal way to obtain real estate without sacrificing all their assets in one purchase as you might in an expensive city. From saving money to stressing less, there are several perks that come with buying a lake home as your primary investment property.
It’s no secret that major cities like New York or San Francisco are very pricey for small units of space. Not surprisingly, both were ranked among the top 25 most expensive cities in the U.S. For good reason, many people are now opting to buy properties at vacation spots adjacent to these major cities while continuing to pay rent for their small urban apartments. This way, new homeowners can get the best of both worlds — an investment in real estate while also living in the city. For example, New York dwellers might choose to buy a house on Lake George, about a three hour drive from the hustle and bustle. When the work week gets stressful and a weekend retreat is in the cards, there’s nothing better than a nearby destination that you can proudly own. Buying a lake house as a first home solves this issue.
2. Rent it Out
If you aren’t planning to live at your lake house full time but still want to invest in the property, there’s a great opportunity to rent your vacation home to others who are looking for a weekend getaway. Since it’s going to be left unoccupied when you aren’t there, you might as well be making a profit. According to the data studio Priceconomics, AirBnb hosts make $924 per month on average. By including your lake home on a platform like AirBnb, you can offset the mortgage cost each month and make your investment a little more affordable. Plus, with amazing views of a nearby lake and serene nature surrounding the house, you’re bound to get plenty of booking requests.
When it comes to buying a house, there can be a lot of pressure to make sure it’s the right decision. After all, you’re placing roots in a space that you expect to enjoy for years to come. But if you’re living in an expensive city, the stakes are high and dropping more than $150,000 on a downpayment (based on the average listing price of $779,000 in New York City) is not a decision to be taken lightly. If you’re ready to be a homeowner but can’t commit to city prices, choosing a more affordable vacation home is a great way to lower your stress and buy some time before investing in city property.
4. Invest in the Future
If retirement is already on your mind, imagine the kind of place where you’d like to spend the years following your career. Likely, it’s a place where relaxation is the name of the game. By investing in lake house property early on, chances are that you’ll be far enough on your mortgage payments where you can retire comfortably at your vacation home. Not to mention, you’ve secured a vacation destination and weekend getaway for all those pre-retirement years when you need to take a break.
Of course, the decision to buy a vacation home as a first home comes with a few considerations. For example, the upkeep is your responsibility and this may be harder to keep track of when it isn’t your primary residence. However, those who have taken the plunge and bought a vacation home while renting in the city say that it helps to keep close ties with neighbors who can alert you if anything suspicious is going on. And if your property is just a few hours away, you should be able to make it for a maintenance day one weekend a month. If you decide that you’re ready to take on the homeowner responsibilities, consider all the benefits of making your first home one with an incredible lake view.
Nestled within the Western Maine Mountains and surrounded by a ring of evergreen trees, Rangeley Lake epitomizes the natural beauty of northern New England.
Rangeley Lake, a sprawling 6,400-acre freshwater lake, is one of the major headwaters of the Androscoggin River watershed. It takes its name from Squire James Rangeley, Jr., an Englishman who established one of the earliest settlements in the area in 1825. Squire Rangeley’s legacy looms large in the history of the region; the nearby town of Rangeley is named after him, as is the main river that flows out of Rangeley Lake.
With a population of just over 1,000 people, Rangeley may come across as a sleepy town. However, when warm weather comes around, vacationers and residents come in from all over the Northeast to wile away the days in their summer homes. In the past, some travelers have come to Rangeley in the winter for access to nearby ski resorts such as Saddleback Maine.
With a strong local community and plenty of reasons to visit, Rangeley Lake is sure to remain one of Maine’s premier lake-living locations for years to come.
The History of Rangeley Lake
Before white settlers established the town of Rangeley, Rangeley Lake was home to five different Native American tribes, most prominently the Abenaki. In 1796, the region was forever changed when four American men—including James Rangeley, Sr., the father of Squire Rangeley—purchased a large tract of land that included Rangeley Lake and the surrounding area. Over the next few decades, settlers gradually trickled into Maine from the lower colonies, forging homesteads out of the forested land near the lake and surviving off of Rangeley’s bountiful fish and wild game.
In 1825, Squire Rangeley loaded a wagon with his family’s belongings and established the town that would later take his surname. Supported by a burgeoning lumber industry, the population of Rangeley continued to grow over the following decades—and as the town gained prominence, it began to develop a reputation as a prime fishing destination. By the 1860s, Rangeley Lake had become a common vacation spot for American fishermen, kickstarting its reputation as a paradise of the North.
Many locals consider the late 1920s and 1930s to be the “Golden Age” of Rangeley. In the years leading up to the second World War, affluent visitors from across the Northeast would flock to the lake to take advantage of its high-quality hotels and natural beauty.
After World War II, Rangeley transformed once again, eschewing its ritzy hotels in favor of a more relaxed style of tourism centered on the town’s established reputation as a vacation spot. The fancy hotels are long gone; instead, loyal seasonal residents come year after year to summer in their lakeside vacation homes. Generations of Rangeley Lake families have passed their homes down through years; for many, Rangeley is just as much of a home as their primary residences down south.
Features of Rangeley Lake
The natural splendor of Rangeley Lake is its greatest strength, but for residents who have had their fill of verdant beauty, the lake offers a number of additional amenities.
The legacy of Rangeley’s Golden Age lives on in the form of the Rangeley Lake Resort. The resort is a cluster of log cabins located on the former golf course of the Rangeley Lake House, once Rangeley’s classiest hotel. The resort features a clubhouse with hot tubs and a heated pool, canoe rentals, a network of snowmobile trails, and ample opportunities for scenic hiking.
Photo courtesy of The Maine Golf Trail.
On the shore of Rangeley Lake, visitors might stumble upon Mingo Springs Golf Course, a high-quality course that has been owned and managed by the same local family for over four decades. Though the local Saddleback Maine ski area has been closed since the 2014–2015 season, plans are underway to reopen the mountain for 2020, and the renowned skiing and golfing at Sugarloaf Mountain is only a 45-minute drive away.
For nature lovers, a number of companies offer cruises and kayaking on the lake, and the Rangeley Lakes Heritage Trust has mapped and documented miles of birding trails throughout the area.
And on rainy days, visitors can drive down to the Rangeley Lakeside Theater for a selection of seasonal live performances and film screenings.
Rangeley Lake Real Estate is one of the premier markets for lake homes in the state of Maine. At any given time, there are around 130 lots and homes for sale on the lake. Rangeley Lake homes can sell for between $89,000 and $1.5 million, with a total market value of over $36 million.
A small town with a cosmopolitan history, Rangeley is a fantastic location for both full-time and seasonal lake living.
Visit our website HERE to learn more about Rangeley Lake.
Just missing out on the title of the eighth wonder of the world, the breathtaking 271,000-acre Lake Champlain does achieve the distinction of the eighth largest naturally occurring body of water in the United States.
But Lake Champlain’s size isn’t the only thing about the lake that’s amazing. With beauty that is far too astonishing for just one state, the lake extends into both New York and Vermont for a total of 600 miles of awe-inspiring shoreline.
And while we are sure the “New York side” of Lake Champlain is lovely, we think the Vermont side deserves a special spotlight.
Named after French explorer Samuel de Champlain, the lake has played a significant role in American history.
It was the site of many Revolutionary battles, including the seizure of forts Ticonderoga and Crown Point in 1775, shortly after the war for independence began.
Lake Champlain was also the home of America’s first naval fleet, which under the direction of General Benedict Arnold, helped prevent British troops from advancing into the southern colonies.
However, in 1777 the British regained control of the lake and maintained that control until the war’s end.
After independence was won, the “Vermont side” of Lake Champlain operated as an independent republic, relying heavily on Canadian trade until 1791, when it became the fourteenth American state.
By 1810, the Champlain Valley was home to more than 140,000 people.
The War of 1812 saw more fighting on Lake Champlain’s shores, and in 1814 it was the site of the Battle of Plattsburgh, which helped pave the way to peace negotiations and the war’s end not long thereafter.
Today, Lake Champlain’s war-time significance has been honored by three naval ships that bear its name: USS Lake Champlain (CG-57), USS Lake Champlain (CV-39), and USS Lake Champlain (y. 1918-19).
Today, throughout the Lake Champlain region and into the nearby Green Mountains, residents can enjoy hands-on excursions, in-depth tours of historic sites, and visits to the area’s many galleries and museums.
Filled with more than 90 species of fish, Lake Champlain is a thriving fishing destination, one that consistently ranks among the top bass fishing lakes in the country with largemouth, smallmouth, and rock bass species all present in the lake.
Apart from fishing, visitors and residents alike enjoy boating, kayaking, yachting, and sailing along the lake’s full length of 125 miles.
Private sailing cruises, boat tours, and ferry rides are also popular activities, inviting participants to take in as much of Lake Champlain’s breathtaking scenery as possible.
Off the water, there is plenty more to do, like taking a trip to the Vermont National Guard museum, where patrons can admire artillery and War-era artifacts from the area’s many battles.
The unhurried two-mile walk features five restaurants specializing in farm-to-table fare, much like the foods enjoyed during the early days of the city.
Regardless of whether you’re an outdoor adventurer or more of an indoor observer, Lake Champlain has something for everyone, including prime lake real estate.
With properties in both New York and the Queen State, the lake is an approximately $178 million real estate market, offering between 300 and 400 listings at any given time.
This market is broken down by geographic area, with inventory located in the Grand Isle area, the Swanton area, the Addison area, and the Burlington area.
As a whole, Lake Champlain reported an average home price of $628,402 in Summer 2019, but owning a piece of Lake Champlain is attainable for every budget.
In fact, 60% of the lake’s Addison area home listings are priced below the market average. Similarly, 29% of home inventory on Lake Champlain-Burlington is below market average, and the lake’s Grand Isle area features 70% of its lake home inventory priced below this average.
In the Swanton area of Lake Champlain, 90% of homes for sale are priced below $628,000.
Become a full-time resident or enjoy this lake’s natural and historical wonders as a part-time weekend warrior. Click HERE to learn more about Lake Champlain, VT.
The “golden years” of retirement are often characterized by leisure activities like golfing, fishing and gardening; spending time with family, and enjoying the little things in life like sunsets and relaxing in a hammock.
Now think about what it would be like to live on a lake. All the same leisure activities come to mind, right? Lake homeowners enjoy all those activities along with natural beauty, boating and fishing, and special time with their children and grandchildren. Lake living and retirement go hand-in-hand.
LakeHomes.com covers more than 3,000 lakes across the country, ranging from small community lakes to the Great Lakes. Each lake has its own personality and lifestyle. Knowing where to start your search for the perfect retirement lake can be intimidating, so we created this guide to assist in the decision-making process.
Using the 2019 SmartAsset Best Places to Retire and cross-referencing our own Lake Real Estate Market Report, we devised the list criteria. To determine the winners of the 2019 Best Retirement Lake Award, the LakeHomes.com media team analyzed dozens of lake real estate markets across the United States. In order to be eligible for award consideration, markets had to have a minimum total market listing value of $10 million as of Feb. 1, 2019.
Welcome to our inaugural list of the Best Retirement Lakes in America!
Located within the town of Granbury, Texas, Lake Granbury is a 2019 Best Retirement Lake.
This Texas treasure is located less than an hour from the Dallas-Fort Worth metro, making the lake perfectly placed. It’s far enough away to escape the stressors of city life, but close enough for weekend adventuring. Lake Granbury is primarily known for its striped bass fishing, numerous house-boats and the award-winning Inn on Lake Granbury.
Nationally, the area surrounding Lake Granbury ranks 63rd among the country’s best overall places to retire in 2019 and offers residents a charming boutique shopping experience, a retro drive-in theater, and the historic Granbury Opera House, constructed in the late 1880s.
Lake Hickory covers more than 4,200 acres in Alexander, Burke, Caldwell, and Catawba counties in North Carolina.
A real retiree jewel, Lake Hickory’s namesake, the town of Hickory, was named among the Top 10 least expensive retirement towns in the U.S. and the Top 20 safest towns in America in 2018.
The lake and surrounding community offer residents a variety of golf courses along its more than 100 miles of shoreline. Boating and fishing are popular activities. There are numerous wineries and vineyards to frequent throughout the year for the wine enthusiast.
In the Lake Hickory area, there are multiple historical centers and more than a dozen parks and nature trails. The lake’s abundance of recreational opportunities, along with its convenient distance to Charlotte, Asheville, and Winston-Salem, makes Lake Hickory an ideal place for one’s golden years of retirement.
Lake Lanier is abuzz with tourists along its southern shores. The lake’s northern end offers residents a peaceful reprieve and a small-town environment along the rolling foothills of the Blue Ridge Mountains.
This retirement lake features numerous Robert Trent Jones and Arnold Palmer-designed golf courses, day spas, southern-inspired cuisine, and an equestrian center at Lake Lanier Islands.
Lake Lanier’s natural attractions include picturesque waterfalls, hiking trails with a robust fishing and boating scene. There are 45 parks and recreation centers in the area around the lake, providing value for retirees regardless of where they are on the adventure and activities spectrum. Lake Lanier boasts a blissfully blended lake life lifestyle for retirees and their families.
Lake Lanier’s natural attractions include picturesque waterfalls, hiking trails, a healthy fishing and boating scene, and 45 parks and recreation centers.
With something for retirees on both ends of the adventure and activities spectrum, Lake Lanier boasts a blissfully blended lake life lifestyle.
As if painted into the alluring backdrop of the Appalachian Mountains, Lake Guntersville is recognized as one of the most scenic lakes in America and was recently recognized by Bassmaster magazine in the top 10 lakes on their list of 100 Best Bass Lakes.
This picturesque retirement paradise is located within the 6,000-acre Lake Guntersville State Park, home of the Eagle’s Nest Golf Course – an 18-hole premier course renovated and redesigned in collaboration with pro golfer Jerry Pate.
This Alabama lake offers nearly 40 miles of hiking trails, best-in-class fishing, sailing clubs and is part of the North Alabama Birding Trail.
Situated about 30 miles south of Huntsville, Lake Guntersville is the ideal place to enjoy modern conveniences alongside the relaxing qualities of retirement lake living.
Lake Keowee is known as one of the safest and cleanest lakes in the country, and as one of the best boating lakes in the Palmetto State.
The area surrounding this spectacular lake boasts moderate temperatures year-round. It’s an ideal climate for teeing-off at any one of the multiple Jack Nicklaus-designed golf courses located around Lake Keowee.
The lake also offers residents a quaint collection of antique and vintage shops, beautiful waterfalls and an abundance of lakeside casual dining restaurants.
This retirement gem is conveniently located less than 10 miles from the Clemson University campus and roughly an hour’s drive from Greenville, making Lake Keowee a quiet retirement haven hidden amongst the excitement of South Carolina’s “Golden Corner.”
Located in Tennessee, Tellico Lake is the epitome of a retirement paradise. It checks all the boxes for retirees regardless of what they are seeking.
In addition to its renowned retirement communities, Tellico Lake is also famous for its year-round activities like boating, fishing, and skiing in the summer, and hiking, golfing and fine dining in the off-season
The lake is conveniently located just minutes from the No. 1 retirement town in Tennessee, Loudoun, and is 45 minutes from Knoxville.
Tellico Lake’s proximity to urban centers and the lake’s active adult-friendly communities make it the perfect place to enjoy all the serenity and charm of lake living without being too far from modern conveniences.
The Lake of the Woods area is perfect for spending one’s golden years of retirement. The 2019 Best Retirement Lake designation goes to this community for its not one, but two lakes.
Spanning 2,600 acres, the lake of the Woods master-planned lake paradise offers residents exclusive access to its on-site equestrian center, 18-hole PGA golf course, tennis courts, and two outdoor pools.
The community also invites its retirees to enjoy lying on the beaches of Lake of the Woods’ 500-acre Main Lake. Here, residents can sunbathe, sail, fish or waterski. The lake is located roughly 20 miles from historic Fredericksburg.
Keaton Lake, the smaller of the community’s water bodies, is perfect for non-gas-powered boating activities like swimming, kayaking, and canoeing.
2019 Best Retirement Lake Award Methodology
Referencing the 2019 SmartAsset Best Places to Retire list for each state, eligible markets were cross-referenced using LakeHomes.com search features to identify those markets located within a 10-mile radius of any town/city named by Smart Asset’s Best list.
These towns were determined by SmartAsset using information about accessibility to healthcare facilities, and the portion of the population that were senior citizens (age was not specified according to Smart Asset’s methodology.) Additionally, each area’s cost of living and tax burden were taken into consideration.
Lake real estate markets determined to be located within a 10-mile radius* of the SmartAsset-named towns were then analyzed for how the average home price in each market compared to the state’s average home price for lake properties.
Proximity to the nearest metro, as named by Google Analytics, and the number of lake-focused retirement communities in each market were also deciding factors in choosing the 2019 Best Retirement Lake Award winners.
Each category was weighted differently, with the number of lake-focused retirement communities weighted more substantially, followed by proximity to the nearest major metro and average home price compared to the state’s average home price for lake properties.
