When the pandemic began, buyers and potential sellers quickly realized that lake houses are perfect for social distancing. As a result, there became more buyer demand and fewer homes on the market. Although this trend has made things complex for buyers, this doesn’t mean you can’t find your dream home! If you’re looking to invest in a lake house, here are 4 tips on buying from our CEO, Glenn Phillips.
Be fast and aggressive in making your offer.
Look at the full inventory of lakes for sale.
Find a lake expert agent to help you.
Consider multiple lakes in different states.
Don’t forget that buying a lot and building a home is always an option as well! No matter what you choose, Lake Homes Realty is here to help. With tens of thousands of listings in multiple states, our agents use lake-focused expertise to support you throughout the buying process.
What makes the accomplishment of being named to the Inc. 5000 for four consecutive years noteworthy? Some companies have been named to the list more often, but few of those companies who have been in business only seven years can tout that more than half their years in operation put them in league with the nation’s most elite private firms.
We’re not boasting, but instead, we’re excited! We’re thrilled that our model has been proven. We are providing people seeking to buy or sell lake real estate, a tool that markets properties nationally while completing the transactions locally with Lake Homes Realty’s brokerage agents. It works so well that over 5 million people will use LakeHomes.com this year to shop, market, or buy a lake-based property.
We are a niche company in a hyper-competitive national real estate market. With new players pushing the “iBuyer” model, a completely virtual home buying transaction, and nationally franchised traditional players often creating “pocket listings” that are not marketed beyond their own agency, Lake Homes Realty deploys a hybrid sales model that markets homes nationally while using experienced professionals to sell them locally.
Few brokerages employ national marketing at the scale of Lake Homes Realty. We’re the only company doing so in specialty real estate. The company’s search advertising alone is the envy of the industry. Add to that an innovative social media program and a nationally pervasive public relations program, which provides valuable lake real estate data to news outlets nationwide at no charge. With those programs, the company has created an unrivaled foundation of support for our clients.
Other brokerages offer the opportunity to “market” your property on a local MLS platform. Lake Homes Realty coordinates data from over 130 MLS platforms and markets it to the entire World Wide Web audience. We know that most buyers are shopping from markets outside of local lake areas. We meet the buyers where they are and sell to them where the listings are located.
The Inc. 5000 list represents a unique look at the most successful companies within the American economy’s most dynamic segment of independent small businesses. Not only have the companies on the 2020 Inc. 5000 been very competitive within their markets, but the list as a whole shows staggering growth compared with prior years.
That staggering growth certainly applies to Lake Homes’ business. Sales in 2020 have been prolific as we assist buyers in finding homes and properties that give them distance from crowded metropolitan areas. Sellers who seek their next chapter find that employing our hybrid sales model gets homes sold quickly, meeting the price targets that owners are confident in after working with our professional agents to price their homes accurately.
Glenn Phillips, CEO Lake Homes Realty
Lake Homes Realty CEO, Glenn Phillips said, “It’s satisfying to find that our business model has been validated once again by the recognition that comes from being named to the Inc. 5000. We work hard for our customers every day, and it’s gratifying to know we are again in such elite company.”
The company just opened its thirtieth state with the addition of Washington. That makes Lake Homes Realty “coast to coast” with a presence in multiple states bordering the Atlantic Ocean and throughout states contiguous to the country’s interior to the Pacific Ocean. Phillips says of the expansion, “We have a few more states as targets and many more lakes in our sights. We seek only the most professional agents to complement our growth and join our existing award-winning team.”
Lake Homes Realty looks forward to continued growth and even more valuable services for our buyers and sellers. If you are searching for lake real estate or you would like to sell an existing property, Lake Homes Realty and LakeHomes.com are an unbeatable combination that has been once again recognized as one of the best in the nation.
If you’re considering selling your lake house, you might be wondering if now is the right time to do so. In today’s Whiteboard Wednesday video, Lake Homes Realty CEO, Glenn Phillips, gives 4 reasons why Summer 2020 is a great time to sell your lake home.
Lack of high competing prices
Ability to get ahead of the economic decline
Opportunities for short-term rentals
Regulation changes are continuing in lake markets
Looking ahead, it’s unlikely that you’ll get a better opportunity to sell than right now. Since lake property is more difficult to sell than other markets, now is the perfect time to take advantage of this window!
Check out what’s happening in your current market at Lakehomes.com.
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.
During the pandemic, many lake homeowners are concerned about their investment. If you aren’t using your lake home anymore, is now the right time to sell? Glenn Phillips, Lake Homes CEO, answers this question. Due to the market’s price peak, high buyer demand, limited appropriately priced inventory, and low mortgage rates, now is actually one of the best times to sell a lake home. To explore your options in selling your property, connect with one of our Lake Homes agents. With both local market expertise and a national presence, we’re here to help.
Lake Homes Realty CEO, Glenn Phillips, discusses five myths about selling a lake home. While there are many similarities between selling a lake home and a primary residential home, there are key differences. For lake homes, these include the higher percentage of out of town buyers, the impracticality of open houses, unusual aspects that break automated valuation systems, and buyers’ value shifts from opulence to practicality. If you’re considering selling a lake home, find a lake agent who understands these unique traits of the market.
Like anyone who grew up in the American South, I’ve sung along to the classic “Wagon Wheel” countless times– in my kitchen alone, at a bar where a cover band is playing, and at karaoke with friends attempting to harmonize to the chorus. But if you’d told me that I’d be listening to this song in a rental car journeying from New York City to Alabama in one day, absorbed in the strange truth that the line “made it down the coast in seventeen hours” was real for me, I wouldn’t have believed you. Nevertheless, this was where I found myself on March 21st– on a 7 am to 12 am road trip from my current home to my hometown to escape the epicenter of COVID-19.
The Best Way to Social Distance
As we’re all well aware by now, the COVID-19 pandemic has halted all public life in the U.S. We’re in a state of collective grief over the loss of jobs, loved ones, and at the very least, face-to-face connections. In my New York apartment, my three roommates and I were cramped in a small space. Outside, the virus is rampant, and it has hit working-class neighborhoods in the city disproportionately hard. As the situation persists, it isn’t lost on me how fortunate I am to be able to escape to a lakeside retreat. Here on Wilson Lake in Muscle Shoals Alabama, there’s no shortage of natural attractions and open space — ideal for both social distancing and for reducing stress. If you’re a lake homeowner, you know that a lake house is an ideal getaway from the pressures of everyday life. And in times like these, when “everyday life” is continuously changing, a lake home provides a much-needed sense of peace and consistency.
Trying New Things
In my opinion, the best part about quarantining by a lake is the myriad of opportunities that city life doesn’t allow. One advantage of a small-town, nature-filled environment like Muscle Shoals is the proximity to hiking trails. In The Shoals specifically, a well-known hiking hotspot is the Tennessee Valley Authority (TVA) trails. Winding around Wilson Lake, these interconnected trails include scenic river views, fields of wildflowers, and long bike paths. Since I was quarantining with two of my best friends, the three of us decided to hit the trails together on a Saturday afternoon. We may have gotten sunburned, but we had a lot of fun.
Since living together, the three of us have also taken advantage of our spare time by cooking. Luckily, my two friends both have subscriptions to New York Times Cooking, and we chose a new recipe for every night of the week so that we’d have something exciting to look forward to after a day of work. Many of these recipes were more adventurous than meals I’d make by myself — I was pleasantly surprised by the anchovies in the pasta pictured above — but the enthusiasm we shared for trying new dishes, as well as our collaboration in the kitchen, made them worth trying. Additionally, having dinner on a screened porch in the cool nighttime air while listening to crickets sing made the dining experience even more pleasant.
Magnificent Views
While working from home in my New York apartment, the view out my first-floor window featured a trash bin, a recycling bin, and an occasional tuxedo cat looking for its next meal. At the lake, my breath is consistently taken away whenever I glance up from my laptop. At around 7:30 pm, the lack of buildings in the distance allows the sunset to take center stage in the sky. Every time, it’s simply gorgeous.
Aside from the lakefront itself, there are plenty of stunning views just outside the back door, such as the nearby Robert Trent Jones Golf Course. Though I’m not a golfer myself, it’s a perfect location for playing sports and complying with social distancing as long as you keep one person per golf cart. For me, the course is perfect for daily jogs and games of frisbee with my two friends — while watching out for any incoming golf balls, of course.
Closing Thoughts
In addition to staying physically healthy, it’s especially important during these times to take care of your mental health. Everyone responds differently to stressful situations, and I’ve certainly had down days since quarantine began. However, being at the lake in Muscle Shoals has allowed more opportunities for stress-reducing activities such as spending time in nature, regularly exercising, and simply relaxing. Amid the anxiety, I’m constantly feeling lucky to be here. If you’re considering purchasing a lake home, remember that it’s more than investing in brick and mortar– it’s investing in a space dedicated to unplugging from stress and engaging with nature. That’s a lifestyle that will always stay relevant, even once quarantine ends.
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.
