Nothing in this world is stagnant, and that includes the lake real estate market. Lake Homes Realty’s CEO, Glenn Phillips, gives four tell-tale signs that the market is shifting.
Inventory Increases: There is an uptick of homes on the market, which has been a positive shift in available inventory.
Days-on-Market: The average time a home spends on the market is beginning to increase. The longer homes sit on the market, the more time buyers have to evaluate their options.
Price Cuts: The combination of increased inventory and growing day-on-market is leading sellers to cut down their prices; a trend we haven’t seen in the past few years.
Surge of ‘Better Hurry’s’: In an attempt to maximize profit, surges of sellers are putting their homes on the market while it’s still in their favor.
As the world around us changes, so will the real estate market. The best way to secure your investment is to recognize these signs and plan your buying/selling strategy around them.
When searching for your dream home, you must guide your agent in the right direction. Lake Homes Realty’s CEO, Glenn Phillips, shares three tips to help your real estate agent help you find your lake home.
Know and Share Your Goal: Understanding your must-haves and dealbreakers before going into the home buying process is essential in effectively searching for your dream home.
Be Real: Be honest with your agent about your price range from the beginning. This will ensure that time isn’t wasted on homes without potential.
Say ‘No’: Now is not the time to relent on what you want. If you know a property is not for you, it’s ok to say ‘no’ and move on to homes with more promise.
How can you expect your agent to find the perfect home for you if you’re not thorough on what you want? Before you begin your journey, be sure to finalize what you want, be honest throughout the process, and don’t be afraid to say no!
It can be difficult to determine if the market has reached its peak when you’re not familiar with real estate patterns. Lake Homes Realty’s CEO, Glenn Phillips, breaks down three factors that are affecting the market as we know it.
Modern Increase in Inventory: There are several components that go into this, some of which include: the economy, buyer fatigue, and life post-pandemic. Searching for a home, in a market this intense, can become overwhelming, and the effects are starting to show themselves.
Days-on-Market Up: Homes aren’t flying off the market as they once were. This is a clear indication that the frenzy is starting to slow down.
Fewer Offers: The competition isn’t as fierce as it once was. Homes are no longer being flooded with offers as soon as they reach the market.
Although noticeable changes are being made, this isn’t to say we are in a bubble or about to crash. Now is still a great time to sell your lake home for a return on your investment. On the other hand, if you plan to buy, waiting a little longer may lead you to more opportunities.
It’s no secret that we’re the nation’s largest lake-focused real estate brokerage. Lake Homes Realty’s CEO, Glenn Phillips, explains why real estate agents choose Lake Homes Realty.
Specialization: With a market full of agents, specializing is important to stand out from competitors. The lake homes market is extremely popular, and a great one to specialize in. Market Reach: LakeHomes.com is shown to millions of potential clients a year. Our website will allow you to expand your clientele by reaching consumers all across the nation. Technology: Our in-house technology allows you to effectively manage and personalize your interactions with buyers/sellers. High-Quality Clients: Because LakeHomes.com targets consumers specifically interested in buying/selling a lake home, the leads generated are of exceptional quality. Support: Agent support is a top priority, even though we are highly virtual. There will always be a person on the other end of the line when you need assistance. Alignment: We connect buyers and sellers to agents that will best fit their lake buying needs. This alignment will inevitably be beneficial to all three parties, as everyone’s needs will be met.
From quality lead generation to specialized tools to aid in client management, joining Lake Homes Realty just makes sense. Join us and propel your real estate career to heights once unimaginable!
Lake Homes Realty, CEO, Glenn S. Phillips was honored with the CEO of year award for companies with 26-50 employees by business newspaper, the Birmingham Business Journal. The company has 50 employees in the Hoover, AL corporate office, but has real estate agents in over 3,000 lake markets nationwide.
Phillips was honored by the Birmingham Business Journal with the CEO award after he was nominated along with five other local business leaders in the same category. Consideration was based on strong financial performance, tangible results and goals achieved, along with the success of the business and community involvement.
(Pictured left to right) Mark Griggs, JW Hightower, Linda Thach, Stephanie Millard, Glenn Phillips, Doris Phillips, Susan Bennett, and Hallie Mitchell.
The awards took place at the Grand Bohemian Hotel in Mountain Brook. He was one of 35 executives nominated and one of only 7 winners of the award in each company size category. The award winners were recognized as executives who inspire those around them and hold their employees, products and services to the highest standards.
Phillips said, “I was really surprised by this honor! It’s an award for my whole team at Lake Homes Realty, I couldn’t do this without each and every one of them. As long as we are recognized for our hard work and growth as a company, I am very happy.”
Lake Homes Realty was the highest-ranked Birmingham-area company to make the 2017 Inc. 5000, the prestigious annual ranking by Inc. Magazine of the 5000 fastest-growing companies in the U.S.
Lake Homes Realty landed in the top fifth of the 2017 list, at number 927, courtesy of its three-year growth of 473 percent.
To be eligible for inclusion in the Inc. 5000, companies are evaluated for growth from 2013 to 2016 and ranked by revenue growth rate. This was the first year Lake Homes Realty was eligible for inclusion in Inc.’s analysis.
Nationally, Lake Homes Realty was ranked the ninth-fastest growing multi-state real estate brokerage.
The company was the only Birmingham-area business to make the top 1,000, and was the eighth-highest ranked of the 59 Alabama companies on the list.
Glenn S. Phillips, CEO Lake Homes Realty
“All of us at Lake Homes are thrilled that our hard work has paid off with this kind of national recognition,” said Glenn S. Phillips, CEO of Lake Homes Realty.
“And in many ways, we are just getting started. Our growth this year has been outstanding and we’re excited what our growth has done to genuinely benefit our real estate buyers, sellers and agents,” Phillips adds.
Leveraging Traditional Real Estate with Powerful Web Tools
Lake Homes Realty has grown to become the nation’s largest lake-focused real estate company. The firm’s website, LakeHomes.com, aggregates lake-area real estate listings from more than 60 Multiple Listing Services (MLS) in 13 states.
Increasingly popular with lake real estate buyers and sellers, LakeHomes.com is on track this year for more than 4 million visitors, and that already includes people in from every state and nearly 100 countries on five continents.
Since 2013, the company has expanded it’s licensed real estate brokerages from one state to now thirteen states in the Southwest, Southeast, Mid-Atlantic and New England regions. Additional states are opening operations this year.
Lake Homes Realty offers a unique combination of services to prospective buyers of lake property: the convenience of using a single website to research all thousands of lake-related listings coupled with its own licensed local real estate agents.
Real Estate Listings from More than 500 Local Lake Markets
LakeHomes.com currently provides visitors with access to view and search real estate listings totaling more than $16.5 billion across more than 500 local lake markets in 13 states.
