Tag: lake homes

Whiteboard Topics: Lake Home Sellers Should Know These Buyer Traits

Posted on Zac Parnell

Are you selling your lake home? You, as a seller, have traits that most sellers exhibit. The same goes for lake home buyers. Because you are trying to sell your home, you should be aware of what these typical buyer traits are and how to spot them. Lake Home Realty’s CEO, Glenn Phillips, discusses what some of these traits are and how to be on the lookout for them.

  1. Often Live >100 Miles Away: Most buyers who purchase lake property are looking for something they can move to in retirement or a place they can have as their getaway. Knowing that typical lake buyers are coming as far away as other states or cross country is important when it comes to marketing towards them.
  2. “Want What They Want”: It isn’t very common that your typical lake home buyer is looking for anything in a hurry. They don’t need a home immediately to ensure their kids can be in a certain school system or any other reason behind a quick move. They could spend months to years waiting to find exactly what it is they want.
  3. Willing to pay…but RARELY overpay: Most people who are buying lake property are smart with their money. You can see that the inventory has grown a lot in the past couple of months. These buyers aren’t willing to pay for a home that is overpriced, a more and more are becoming that.
  4. Unconcerned with school systems: The usual demographic is 55 and older. They might have grandkids coming to visit, but that doesn’t mean the specific school systems in the area are pertinent for these buyers.
  5. Hospital Reasonably Close: Like the previous point, the age demographic is a little older than your usual real estate market. Knowing you’re not too far away from a medical center is something that is being looked into when a buyer is considering moving to the lake.

Knowing these buyer traits can benefit you if you’re beginning the selling process or have been in it for a minute. If you would like help with selling or simply more details about these traits, reach out to one of our lake agents today at https://www.lakehomes.com/. They would be more than willing to lend a helping hand.

[Yahoo Lifestyle] Lake Property for Sale: How To Buy a Waterfront Home

Posted on Linda Thach

Imagine waking up to vacation vibes every single day—owning a waterfront property can turn that dream into reality.

Whether you’re a retiree seeking tranquility or simply craving your own piece of paradise, lake homes are worth considering. Investors looking to diversify their portfolio may also find these properties appealing.

Discover the process of buying a waterfront home to help you determine if it’s the right move for you.

“Spend time in the markets that interest you first. Visit several times and explore,” suggests Glenn Phillips, CEO at Lake Homes Realty & Beach Homes Realty. “Get a feel for the area, and a feel for the differences in these markets with the seasons.” – Realtor.com

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[Mecklenburg Times] A “Rich Idiot” Isn’t Coming to Buy Your Lake Home – But a Savvy Buyer Will

Posted on Linda Thach

​In the 2025 lake real estate market, sellers should abandon the expectation of wealthy buyers overpaying for their properties. Instead, informed and financially prepared buyers are seeking fairly priced homes and are often willing to pay in cash. Sellers who continue to list their properties at inflated prices risk having them remain unsold, leading to stagnant inventory. However, those who price their homes realistically can capitalize on the anticipated 15% increase in transactions compared to 2024. This shift underscores the importance for sellers to align their pricing strategies with current market realities to successfully attract savvy buyers.

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Whiteboard Topics: 7 Signs A Lake Home Is Unrealistically Priced

Posted on Zac Parnell

Pricing is an important factor when it comes to buying and selling a lake home. On the buyer’s side, you typically want to find a home that is within your budget and not something astronomically outrageous. From the seller’s side, pricing a home appropriately means more people are willing to look at it. Glenn Phillips, CEO of Lake Homes Realty, breaks down 7 different signs that a lake home is not priced realistically.

  1. Days-on-Market (DOM): Transparency is important. If your home has been on the market longer than 60-90 days, specifically for lake properties, it typically indicates that something isn’t right about the transaction. If the home is priced about 10-15% or more up than what the market is realistically expecting, people won’t take the time to even look at the home.
  2. Big Appraisal Gap: This was a bigger deal during the COVID frenzy, where people were willing to pay a higher price for the home than the appraisal price. However, since we have shifted from that, people aren’t as willing to spend that money.
  3. “Back on the Market”: This could indicate a price problem, either an issue with the mortgage appraisal not matching or an issue with the house, and the buyer and seller couldn’t agree on how to solve it in terms of the price.
  4. Massive $ Increase: This relates to an increase in the price of the house from when it was initially purchased to now, and there hasn’t been much done or changed about the property. If the seller can’t explain why there would be such a price increase, it more than likely means the home is overpriced.
  5. Multiple Price Cuts: The home has a lot of days on the market, as well as multiple cuts in the price. They might not even be significant price cuts. However, a buyer can see this and expect more cuts to happen before even looking at the property.
  6. Sellers: No (or Few) Showings: Having nobody come to look at the property is a key indicator that the home is priced poorly. Having people come and view your home is something that should be happening.
  7. Sellers: No Offers (or Similarly Low): Having people come and look at the home is great, but receiving no offers or even low offers means the pricing is off. If you’re receiving low offers, it can often be the buyer trying to offer at a more accurate price point.

Having a home that sits on the market for months due to pricing is something no seller or buyer, for that matter, wants. Ensuring you have priced your lake home appropriately is key in ensuring you can sell it. If you’re struggling with pinpointing what price is right for your home, contact one of our lake agents today! They would be more than willing to help you out!

Whiteboard Topics: 4 Big Mistakes When Hiring A Lake Real Estate Agent

Posted on Zac Parnell

Now is the time when you have decided to either buy a lake home or sell the one you currently have. However, you have to make a pretty big decision, which real estate agent to work with? Before you decide to choose one randomly, check out what Lake Homes Realty’s CEO, Glenn Phillips, has to say when it comes to mistakes made when hiring an agent.

  1. Generalist Instead Of Specialist: The biggest mistake people usually make is hiring an agent who doesn’t specialize in lake real estate. A general real estate agent might know the nuances of transactions and other facets of the real estate world but not necessarily the ins and outs of the lake market. There are many different rules and regulations when it comes to buying and selling within the realm of lake real estate.
  2. Family As A Favor: Everyone would love to help out family, especially if they are new to the world of real estate. There are other ways to help out your family without negatively affecting your transactions. This is where working with a specialist really benefits you.
  3. Just Picking A Friend: Similarly to the family aspect, working alongside someone who knows what it really takes to work within this market is always going to be better than simply just someone you know. That friend might not know the exact questions that need to be asked and a plethora of other things that a seasoned lake agent will know.
  4. Only Think Local: This is particularly a mistake when selling. There are ways to target buyers in various parts of the country. This will help directly target lake buyers within many different states. A lake agent knows how to go about this and the ways you can truly target dedicated lake buyers.

These 4 mistakes are common in selling lake properties. However, they don’t have to be. A great way to avoid these is by working alongside a seasoned lake real estate expert. There are many different agents who would love to help you navigate the process of buying or selling lake property. Check them out at https://www.lakehomes.com/ and ask any other questions you might have.

[The Journal Record] Survey reveals top vacation home markets in 2025

Posted on Linda Thach

A survey conducted recently has pinpointed the leading vacation home markets for 2025, showcasing locations that have become increasingly popular among buyers in search of secondary residences. This trend mirrors larger changes in consumer tastes and economic factors impacting the real estate market.

“Across all lake properties listed on LakeHomes.com, the average price is more accessible at $539,739. In Oklahoma, the total market value for lake homes and lots is $857,348,690, up 5% from spring 2024. The total number of listings is 2,587, up from 2,319 last spring.” – The Journal Record

 Although vacation home markets are thriving, it is crucial for potential buyers to conscientiously evaluate financial and market conditions before delving into such investments.

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[Birmingham Business Journal] Smith Lake mansion sells for record-breaking, multimillion-dollar price

Posted on Linda Thach

An Alabama home on Smith Lake fetched a staggering $43.45 million, shattering the previous record for the priciest property sold in the area. With breathtaking lakefront vistas, exquisite custom details, and top-notch amenities, this luxury estate turned heads among affluent buyers. The transaction represents a major achievement in the local real estate sector, underscoring a rising demand for premium lakeside residences. In a significant real estate development, a residence located on Smith Lake in Alabama was recently sold for a remarkable $43.45 million, surpassing the previous record for the highest-priced property ever sold in that region. This luxurious estate boasts stunning views of the lakefront, intricate bespoke details, and exceptional amenities that captured the attention of wealthy potential buyers. The sale of this opulent property signifies a notable milestone in the local real estate industry and highlights an increasing desire for high-end lakeside homes among discerning individuals.

“Justin Dyar with Lake Homes Realty represented the sellers and J.W. Hightower with Lake Homes Realty represented the buyers in the transaction.” – BBJ

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[AL.com] Smith Lake home sold for $4.345 million, highest price ever for area

Posted on Linda Thach

A Smith Lake home in Alabama was sold for $43.45 million, setting a new record for the highest price ever paid for a property in the region. The luxury estate, known for its expansive lakefront views, custom design, and impressive amenities, attracted significant attention from high-end buyers. This sale marks a significant milestone in the area’s real estate market, reflecting growing interest in exclusive lake properties.

“The seven-bedroom, seven-and-a-half bath house in the Pointe Sixteen Development, bested the previous record price of $3.6 million, according to Lake Homes Realty.” – AL.com

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