Whiteboard Topics: What Are 5 Pricing Mistakes Made By Lake Home Sellers?

When selling a lake property, you always need to be aware of possible mistakes that can happen. Luckily, Glenn Phillips, CEO of Lake Homes Realty, gives insight into 5 common pricing mistakes. Not only does he mention what they are, but he also explains ways to ensure you avoid them. 

  1. Trusting Websites Offering AVMs: Automated Valuation Models are essentially websites where you can input data and “find out” how much your home is worth. These are not real people and are simply automation algorithms. A lot of times, these websites are flawed. These tools are typically better suited for evaluating homes in subdivisions as opposed to lake homes spread around a lake.
  2. Using Prices of Currently Listed Properties: Just because you have a neighbor or friend listing at a specific price doesn’t mean you should use the same one. At the end of the day, these properties will still likely sit on the market, which typically means the prices didn’t work. The longer a property sits, the less money the seller will get.
  3. “I Need to Get…”: Oftentimes, a seller will have unrealistic goals for what their home is worth and will ask for too much money. Before putting your home on the market, you will need to understand what the market value of the property is. 
  4. Emotional Reasoning: Being aware of what the market is saying about what a property like yours is worth vs. how you might feel emotionally. Just because you added certain features or made modifications to the home doesn’t necessarily mean it increases its value. Always see what the market says. 
  5. Failing to Consult a Lake Expert Agent: This is one of the best ways to avoid any of these mistakes. Consulting someone who is an expert in this area will be beneficial to you in the long run. It might be tempting to use somebody who is a friend, but someone who specializes in this area is ideal. Lake agents have a better understanding of what it takes to sell in this market.

When it comes time to sell, there are plenty of ways to avoid these mistakes. It will ultimately help you in the long run and avoid a lot of stress. If you still have any questions or need guidance, check out LakeHomes.com. There are plenty of lake agents who would be thrilled to help you through your real estate process. 

2024 Outdoor Furnishings Trends: Lake Home Designer Kelly Guinaugh Shares Her Trade Secrets

Text by Kelly Guinaugh, ASID
Produced by Jeanne Delathouder

Covered patio with sofa, chairs, and round metal cocktail table with lake setting in background
Photo courtesy of West of Main Design

Here in the Midwest, we start dreaming about the summer months in spring and the warm weather coming our way soon. Like many lake lovers, we relish this season because it allows us to revamp our outdoor furnishings and return to our blissful outdoor living spaces once again. My Chicago-area design firm, Interior Enhancement Group, embraces this opportunity every year to create unique spaces through our bespoke designs that speak to our clients’ lifestyles. Spring is a special time for us—when we get to stretch our creative wings and plan your perfect outdoor living scenario, so when the sun shines again, and temps begin to soar, these spaces are ready for you to enjoy.

This year, we are seeing an emphasis on a few new trends as well as the continuation of those we have seen over the past few years. Lake homeowners especially want to connect with nature via their outdoor living spaces, and maximizing the splendid water views remains a priority. Light-filled sunrooms, lavish patios, and party-ready outdoor kitchens continue to trend, blurring the lines between inside and out. Additionally, mixing textures, materials, and organic shapes is still going strong and brings a soothing aesthetic to any space.

Comfort and functionality are also essential to enjoying life at the lake. And this year, we’re bringing on double-duty lounge pieces, bold colors, and patterns like never before. There is also a focus on layered lighting—think firelight, ambient light, and task lighting—to create (and control) your desired vibe. So, join me as I walk you through some of my favorite outdoor furnishings trends for 2024. 

Seamless Living

When our indoor spaces flow gracefully into our outdoor living areas, the result is a seamless design that creates lovely continuity. The first step to accomplishing this starts with flooring. Simply by using the same porcelain or stone both inside and out, your spaces suddenly feel like one large room, expanding the living areas visually. The same effect can be achieved if we use different materials but keep them in the same color family.

Beyond the foundation of the floor material, we always get great results when using the same color scheme in our fabrics and finishes, as well as similar furniture styles. And don’t forget to include comfy cushions and soft pillows, just like in your interior rooms. This will further create an equally inviting outdoor space—just like what you’re accustomed to in your family room. More and more, people continue to blur the boundaries between inside and out.

Bold Beauty

Outdoor patio with dog and outdoor furniture with vibrant red stripes
Interior design and photo courtesy of Summer Classics

In both interior and exterior living spaces, our clients are ready to add more patterns and bolder colors than in recent years. We are seeing vibrant colors—emeralds, saturated blues, and bright oranges—and a fearless mix of patterns. Bold stripes, graphic prints, and large and small-scale florals are all happy together outside.

A bold approach with textures is trending as well. Outdoor furnishings are blending industrial metals with concrete accent pieces. Finishes range from smooth to rugged and unfinished—all working together to bring interest, drama, and organic appeal to your outdoor living space.

Pattern Play

covered outdoor patio with graphic tile flooring, a fire pit, sofa, and lanterns
Photo Courtesy of Lucas Interior

This playful patio comes to life in a dance of patterns and lively colors. Stripes harmonize with graphic floor tile with this vivid primary palette anchored with black accents. Woven lanterns and glossy ceramic stools bring a balance of refined textures that complement the rustic wood ceiling beams. The black-and-white tile floor bordered in solid black defines the seating area, much like an area rug. A circular fire pit with cushions provides extra seating for guests while creating a dynamic focal point. Simply put, these fun outdoor furnishings welcome a party!

Light It Up!

Covered and uncovered outdoor area with dining, comfy seating, TV, and outdoor fire pit seating area
Design by Pamela Pennington Studios courtesy of Eric Zepeda Photography

Outdoor lighting is essential to creating an alluring atmosphere. It generates a sense of warmth and invites guests to linger around the dining table or cozy up to a soothing fire pit. Lighting can create drama, but it also enhances our security while adding a positive element to our curb appeal. As our clients expand their living spaces outside, lighting follows suit with the same concepts we apply to our interiors.

Here, a lavish covered patio includes a luminous halo chandelier, dimmable pendants over the dining table, and recessed lighting around the ceiling perimeter. String lights guide the transition to the alfresco area, with an intimate seating area surrounding a fire table for roasting marshmallows or enjoying cocktails after dark.

Set the Mood

covered patio with dining table illuminated by candles and overhead pendant light
Interior design by Interior Enhancement Group courtesy of Cole Horcher Photos

Here, a softly lit woven pendant mingles with candlelight in this elegant outdoor setting. With the right lighting, you can create your perfect ambiance for an outdoor gathering. So, when the sun goes down and evening sets in, the magic of the moment takes over with pure enchantment.

Luxe Alfresco Dining

outdoor dining area with pergola and built-in fireplace
Interior design by Tammy Randall Wood, Interior Archaeology courtesy of Joe Schmelzer Photographs

This glorious outdoor setting emanates garden elegance with climbing vines covering a pergola overhead. A linear chandelier illuminates the long rectangular dining table, along with a built-in outdoor fireplace glowing in the background. This lavish setting captures the essence of luxurious outdoor living while maintaining a casual and carefree vibe.  

Double Duty Seating

Outdoor seating area with pierced stone privacy screen, sofa, bench, chairs, and coffee table
Photo courtesy of Lance Gerber Studio

So many of our clients are looking for ways to maximize their outdoor spaces. A few key tips to accomplish this is to use accent chairs that can also function as overflow seating around your dining table. And simple things like selecting a cocktail ottoman, bench, or side table that includes storage give you a place to tuck away blankets you’ll want handy when the sun goes down.

Here, these lightweight pieces are easily movable to suit almost any outdoor occasion. The extra chairs can be pulled in where you need them—poolside or lakeside.

Modular Lounging

Modular sectional seating by a p ool

Photo courtesy of Lane Venture

Modular seating pieces can be a game changer for outdoor entertaining because they can be reconfigured to suit your needs. Here, this generous sofa sectional from Lane Venture’s Oasis Collection virtually creates a living room outdoors. Sumptuous cushions upholstered in a high-performance fabric welcome wet bathing suits without fuss. Pull the sectional apart, and you can arrange the seating pieces any way you like.

I hope these inspirational ideas and tips can guide you in creating your perfect outdoor setting. If you’re planning a project of your own, my team at Interior Enhancement Group is eager to assist you with all your interior design needs. Here’s wishing you and yours a blissfully beautiful season by the lake!

Pet-Friendly Plants for Your Lake Home Garden

Photo Courtesy of Martha Stewart

Your lake home is your oasis—a place of relaxation, recreation, and connection with nature. But what if you share your slice of paradise with furry (or feathered) friends? Don’t worry, pet parents! You can still cultivate a beautiful garden without compromising your pet’s safety. Here’s a guide to creating a vibrant, pet-friendly haven filled with gorgeous greenery.

Blooming Beauties

Photo Courtesy of Love Your Dog
  • Petunias: These cheerful annuals come in a rainbow of colors and are non-toxic to cats and dogs. They thrive in full sun and require minimal maintenance, making them perfect for busy lake house weekends.
  • Marigolds: Not only do these bright blooms deter pesky insects, but they are also non-toxic to your furry companions. Look for dwarf varieties that thrive in containers or garden borders.
  • Snapdragons: These unique and vibrant flowers come in various shapes and sizes; luckily, they pose no threat to your pets. Enjoy their cheerful presence throughout the summer months.

Leafy Delights

Photo Courtesy of Gardener’s Path
  • Spider Plants: These easy-to-care-for beauties are non-toxic and love hanging planters, making them perfect for adding greenery to your porch or balcony.
  • Boston Ferns: Known for their elegant, cascading fronds, Boston Ferns add a touch of lushness to any space. Easy to care for and requiring low light, this fern variety makes for a perfect addition to your indoor or outdoor space.
  • Maidenhair Ferns: These delicate ferns add a touch of whimsy to your garden and are safe for cats and dogs. However, they prefer shaded areas with high humidity, so consider placing them in pots on your covered porch.

Edible and Aromatic Herbs

Photo Courtesy of Cats Away
  • Rosemary: This fragrant herb adds flavor to your culinary creations and is non-toxic to pets. Grow it in a raised bed or a pot on your deck for easy access and a delightful aroma.
  • Basil: Although a member of the mint family, unlike mint, basil is non-toxic to cats and dogs. One of the most common culinary herbs, basil is versatile and easy to grow. This herb thrives in an outdoor garden as well as indoors.
  • Thyme: This versatile herb is safe for pets and adds a delightful flavor to grilled meats and vegetables. Plant it in a sunny garden or use a hanging pot for easy access.

Remember to ensure the safety of your beloved pets by closely supervising their outdoor activities. If you’re uncertain about the potential risks of a particular plant, seek advice from your veterinarian. Keep in mind that even seemingly harmless plants can lead to digestive issues if consumed excessively. Prioritize your pet’s well-being by thoroughly researching and confirming the suitability of any plant variety before incorporating it into your pet-friendly garden.

Whiteboard Topics: 6 Ways To Protect Yourself From Lake Real Estate Scams

Anyone who has gone through the home-buying process knows it can be tricky. Just like scammers in everyday life, there are real estate scams that many people might fall victim to. Luckily, Lake Homes Realty’s CEO, Glenn Phillips, walks through 6 different ways to protect yourself from these scams. Find out some of the best strategies below or reach out to one of our lake agents at https://www.lakehomes.com/ for more guidance!

  1. Never Buy Without Title Insurance: Right now, there are people who list different properties on the market, yet they don’t even own the property. 
  2. “Check In” on your property (Including Lots!): For a large group of people, their lake home isn’t their main home. Essentially, the home is just sitting there. They realize nobody is there, especially with lots, and then somebody will try and list it.
  3. Verbally Confirm All Payment Instructions: Always plan to do this, especially if you are issuing the money. All real estate types are big targets for email hacking and phone calls. These hackers are reaching out in ways where they suggest payment should be sent to another place.
  4. Do Your Due Diligence: You need to make sure you know everything about the property. From the survey to the condition, make sure people aren’t taking advantage of you.
  5. Be Wary of Haste: If someone is hurrying you in a way that doesn’t seem genuine or feels right, double-check everything. If haste prevents you from verifying things, that is a sign.
  6. Confirm Funds Have Cleared: Make sure your funds, especially with earnest money, are clearing. Your real estate agent can usually provide help with this to ensure everything goes accordingly.

Don’t let the fear of scams hinder your real estate endeavors. Yes, real estate is more likely targeted due to the higher amount of funds, but there are precautions to be taken. Protecting your money and protecting yourself are the two things to remember when it comes to avoiding real estate scams.

Whiteboard Topics: What Are 5 Common Mistakes Made By Agents At The Lake?

When it comes to real estate, mistakes will happen on occasion. Even the most seasoned agents may make a mistake. At the end of the day, it’s human nature and not something to be too upset about. Luckily, Lake Homes Realty’s CEO, Glenn Phillips, has outlined the 5 most common mistakes and how to stay clear of them.

  1. Agreeing to Overprice a Lake Home: As a seller, it is normal to want to maximize the amount you get from the home. However, this can typically cause the property to sit on the market longer and, inevitably, sell for less money. 
  2. Missing Phone Calls: Sometimes being busy can get to you or you might find yourself in an area where the cell service isn’t that good. This results in missed opportunities for the client to get to work with you and vice versa. 
  3. Only Marketing Listed Property Locally: When promoting the property locally, you’re typically going to be promoting to people who already own a lake home. Oftentimes, the ones looking are not local and can even be from out of state. Only marketing locally will result in a loss of visibility for potential out-of-state buyers.
  4. Not Thinking Long-Term: Simply worrying about the next new buyer leaves room for forgetting about your current buyers. These other buyers might just take longer to complete a transaction. While it is good to always think about new buyers, don’t forget about the long-term ones.
  5. Lacking Lake Expertise: The higher price points of lake properties are very enticing, but lacking the knowledge can backfire. Everything from water regulations to how you get to the properties, and even pricing and value. Expertise always matters.

In the future, knowing about these common mistakes can really change the game when it comes to selling lake properties. There are always ways to improve on this knowledge and even learn more when it comes to avoidable mistakes. Visiting LakeHomes.com is always a helpful tool and a great way to learn more!

Rural Living: Pros and Cons

Kayaking in Watertown, South Dakota
Courtesy of Visit Watertown SD

Rural living at the lake comes with multiple pros and cons, such as:

  • Pros
    • Privacy 
    • Cost of Living
    • Cleaner Air
  • Cons
    • Distance
    • Wildlife
    • Amenities 

Choosing where to live can be a stressful decision. One type of terrain to consider is rural living. A rural area is an open swath of land with few homes or other buildings and not many other people. A rural area has a very low population density. Every terrain has pros and cons, so here are three of each for rural living.

Pros

The Yellowstone River
Courtesy of The New York Times/Lynn Donaldson

Debatably, privacy is one of the top pros when it comes to rural living. Due to rural areas having a low population, there is a lot of privacy. Most houses and lots are spread apart, even with many having multiple acres of land. Within this, there are layers of positives that come with privacy. You don’t have to worry about unexpected guests or traveling salespeople. You have more options for a larger home because there is more room. Plus, you’ll have privacy in the sense of personal autonomy since there will be fewer societal pressures.

Another more immediately noticed pro is the lower cost of living. Best Places compared Livingston, Montana, versus New York City when it comes to the cost of living. The overall index of New York was 64% higher than Livingston. Urban living ranks higher across the board in all categories, including food, housing, utilities, health, and more. Rural living has less competition for necessities, resulting in a lower financial strain on a family. 

Additionally, rural living will benefit you medically with less air pollution. The Centers for Disease Control tested air quality and found that rural areas have less air population. This comes from fewer vehicles, less construction, and more nature. This is important because poor air quality can reduce the quality of life, especially for those susceptible to allergens.

Cons

A lush, grassy countryside
Courtesy of Rural Only

When it comes to the negatives of rural living, the most obvious one is distance. Those living in rural areas are significantly farther away from multiple amenities. Those with serious health issues should be aware of the distance from emergency rooms, which can often be an hour away. Additionally, there will be less entertainment. You’ll have to travel to the nearest large city for shopping centers, movie theaters, sporting events, etc. Even when it comes to more common goods, like groceries, stores can be 20 miles away or more. 

Another con of rural living is the wildlife, including bugs. Depending on the region of your rural home, these critters can vary. Either way, the wildlife is far more prominent than in an urban area. Bugs can include mosquitoes and ticks, while animals can range from snakes to bears. Not only will you have to get used to these new animals and insects near you, but you will also have to learn how to prepare for them. You need to leave pet food inside, along with your domestic pets, and mow frequently. 

One other negative is the lack of amenities such as internet access. Internet speed in rural areas is traditionally slow. As society evolves, the internet and technology become more and more pertinent. Those in rural areas may lack the infrastructure to access high-speed internet. This can create a digital divide—a gap between those who have access to modern information and communications technology. In turn, this can make those living in rural areas feel disconnected and behind the times.


Overall, one thing that doubles as both a pro and a con when it comes to rural living is the regional culture. Rural living creates a unique culture, which may or may not appeal to every individual. In essence, rural living can seem very connected. It focuses on family, friends, and fellowship. If you are looking for a fast-paced environment, the rural culture could be a negative for you. It’s all dependent on who you are and what you’re looking for in a community. No matter where you stand, we suggest taking a trip to the countryside to see what rural living is all about.

While rural living has its perks, it also comes with some drawbacks. One significant downside is the distance from amenities and emergency services. People living in rural areas may need to travel long distances to access shopping centers, healthcare facilities, and other entertainment options. Moreover, rural areas are often home to various wildlife, including bugs and animals, which can require residents to adapt to coexisting with them. Slow internet and limited access to high-speed technology are other challenges that can create a digital divide for rural residents.

Rural living has a unique culture that can be viewed as both a pro and a con, depending on individual preferences. Rural communities tend to foster strong connections with family, friends, and neighbors, emphasizing fellowship and a sense of community. Rural culture can be a significant positive for those seeking a close-knit and connected environment. However, if someone prefers a fast-paced lifestyle with more diverse opportunities, the rural culture might be seen as a downside. Ultimately, the perception of rural culture varies from person to person and depends on their personal preferences and values.

Healthcare accessibility can be a concern in rural living. Due to the distance from urban centers, rural residents may find themselves farther away from emergency rooms and specialized medical facilities. In case of serious health issues, reaching appropriate healthcare facilities might take longer, with emergency services often being an hour or more away. This is an important consideration for individuals with pre-existing health conditions or those who require regular medical attention.

Wildlife in rural areas can be both fascinating and challenging. Rural residents experience a more prominent presence of bugs, such as mosquitos and ticks, as well as animals like snakes and bears, depending on the region. While this can create opportunities for nature enthusiasts, it also demands certain precautions. Residents must learn to coexist with wildlife, which may involve taking measures like keeping pets indoors, securing food sources, and regular property maintenance. Adapting to the wildlife is essential to ensure a safe and comfortable rural living experience.

Top 5 Lakes With the Highest Elevation in the World

Crater Lake on a green hill with a larger lake in the background.
Photo Courtesy of Shutterstock | Vicky SP
  • The lakes with the highest elevation in the world:
    • Ojos de Salado, Argentina
    • Tres Cruces Norte, Chile
    • Acamarachi Pool, Chile
    • Lake Lincancabur, Chile/Bolivia
    • Aguas Calientes Pool, Chile

There’s nothing like gazing at the lake from the dock or back porch of your lake home. But can you imagine a bird‘s eye view of these incredible bodies of water? Some lakes are situated at such heights that you must hike for days to view their sparkling waters.

As you will notice, South America dominates the list of lakes with the highest elevation. Although some sources rank Asian lakes such as Lhagba, Changste, and East Rongbuk as top-elevation lakes, you will not find them on this list. As HighestLakes.com points out, Lhagba and Changste no longer exist, and East Rongbuk only appears during the snowmelt season. Plus, some Asian lakes may not be documented, as it is challenging to procure accurate information about the Himalayas. Nonetheless, if you’re ready to take your lake trivia to new heights, check out these top 5 lakes with the highest elevation in the world!

1. Ojos del Salado, Argentina

The frozen crater lake on Ojos del Salado in Chile---the highest lake in the world.
Photo Courtesy High Adventure

Argentina’s Ojos del Salado (“Eyes of the Salty One”) ranks as the world’s highest active volcano and contains the lake with the highest elevation on the planet. The small crater lake rests at an elevation of 22,615 feet (6,893). In 1937, Polish explorers discovered the lake; today, many tourists hike the volcano to view its waters. Notably, there has been some contention as to whether Ojos del Salado is a lake since it only has a circumference of 328 feet (100 meters). Despite this dispute, the lake continues to attract travelers and adventurers from all over the world.

2. Tres Cruces Norte, Chile

Tall mountain with small body of water nestled in it.
Photo Courtesy of XDEEP

With an elevation of 20,361 feet (6,206 meters), Tres Cruces Norte (“Three North Crosses”) ranks only under Ojos del Salado as the second-highest lake in Chile and the world. The lake rests on the lowest of the three peaks in a half-open caldera—a hollow that forms when a volcano erupts and collapses. The Polish explorers discovered the lake in 1937. Then, in 2015, Madswimmers—a group of Polish divers—completed the highest swim in the world upon diving into the Tres Cruces Norte lake. Today, it is an attractive scuba diving and hiking destination.

3. Acamarachi Pool, Chile

Clear body of water in front of tall volcano.
Photo Courtesy of Wikipedia | Acamarachi Volcano is pictured, but the actual lake lies at the volcano’s summit and is not in the photo above.

Soaring 19,836 feet (6,046 meters), Acamarachi (“Black Moon”) is the tallest volcano in the northern segment of Chile. A crater lake rests on the volcano’s summit and is kept ice-free by the nearby magmatic heat. The lake is 10–15 feet deep and, at one point, was the site of the world’s highest underwater dive. The volcano is also famous for its Inca mountain sanctuary, where several ancient figurines were discovered.

4. Lake Lincancabur, Chile/Bolivia

Lake Licancabur in Boliva/Chile.
Photo Courtesy of Wikipedia

Licancabur is a symmetrical volcano between Chile and Bolivia, reaching a peak of 19,410 feet (5,916 meters). It contains a crater lake with an elevation of 19,409 feet (5,916 meters). The lake stretches 328 feet (100 meters) long, 229 feet (70 meters) wide, and 26 feet (eight meters) deep. Most of the year, the lake is frozen. However, in the warmer months, it is in liquid form, as pictured above. Although the temperatures can often dip to -22 degrees Fahrenheit (-30 degrees Celcius), Licancabur Lake houses a plethora of planktonic fauna.

5. Aguas Calientes Pool, Chile

Red pool of water on Aguas Calientes.
Photo Courtesy of High Lakes

Climbing 19,436 feet (5,924 meters) high, the Aguas Calientes (“Hot Waters”) Volcano is situated in Chile. Within the summit lies a small crater lake with an elevation of 19,260 feet (5,870 meters). The lake has an intriguing red tint due to its substantial population of microorganisms. The winds often carry sulfuric acid and water vapor clouds into the waters, making them acidic. The lake’s ecosystem relies primarily on photosynthesis but can also be influenced by the hydrothermal activities of the nearby volcano. Interestingly, many have studied the Aguas Calientes lake as a potential terrestrial parallel to Mars.

Bonus: Lake Titicaca, Peru/Bolivia

Handmade floats on Titicaca.
Photo Courtesy of KimKim

Although Lake Titicaca does not make the list of the top 5 lakes with the highest elevation in the world, it is the highest navigable lake on the planet. While the other top lakes are small bodies of water, Lake Titicaca spans 3,200 square miles (2,048,000 acres). Situated in the Andes Mountains, the lake has an elevation of 12,500 feet (3,810 meters). It is the second-largest lake in South America, after Lake Maracaibo in Venezuela. Lake Titicaca also attracts many tourists due to the 120 handmade floating islands crafted by the local indigenous Bolivians, the Uru. They not only live in these unique homes but also offer tours of them year-round.

Now, you know where to find the top 5 lakes with the highest elevation in the world. If you’re an adventurer, add them to your bucket list and plan a hiking excursion. Or, if you like staying closer to home, visit LakeHomes.com to view the breathtaking lakes in your local area.

FAQS

The volcano’s small crater lake rests at an elevation of 22,615 feet (6,893).

In 1937, Polish explorers discovered the Ojos del Salado.

With an elevation of 20,361 feet (6,206 meters), Tres Cruces Norte (“Three North Crosses”) ranks only under Ojos del Salado as the second-highest lake in Chile and the world.

In 2015Madswimmers—a group of Polish divers—completed the highest swim in the world upon diving into the Tres Cruces Norte lake.

Soaring 19,836 feet (6,046 meters) high, Acamarachi (“Black Moon”) is the tallest volcano in the northern segment of Chile.

Licancabur is a symmetrical volcano situated between Chile and Bolivia, reaching 19,410 feet (5,916 meters) at its peak.

It contains a crater lake which sits at an elevation of 19,409 feet (5,916 meters).

Climbing 19,436 feet (5,924 meters) high, the Aguas Calientes (“Hot Waters”) Volcano is situated in Chile.

Within the summit lies a small crater lake with an elevation of 19,260 feet (5,870 meters).

The lake has an intriguing red tint due to a substantial population of microorganisms. The winds often carry sulfuric acid and water vapor clouds in the waters, making them acidic. The lake’s ecosystem relies primarily on photosynthesis but also can be influenced by the hydrothermal activities of the nearby volcano.

The crater lake on Aguas Calientes Volcano in Chile.

Although Lake Titicaca does not make the list of the top 5 lakes with the highest elevation in the world, it is the highest navigable lake on the planet.

Situated in the Andes Mountains, the lake has an elevation of 12,500 feet (3,810 meters).

Lake Titicaca is the second-largest lake in South America after Maracaibo in Venezuela.

Lake Titicaca also attracts many tourists due to the 120 handmade floating islands crafted by the local indigenous Bolivians. They not only live in these unique homes but also offer tours of them year-round.

Whiteboard Topics: 4 Costly Mistakes Made By Lake Home Buyers

Buying a lake home is an exciting process. However, getting caught up in the excitement often leads to costly mistakes. Glen Phillips, CEO of Lake Homes Realty, discusses 4 costly mistakes made by lake home buyers.

  1. Lack of Due Diligence: Conflict between buyers and sellers often arises, even after the sale, due to a lack of information. Here are a few tips to avoid this conflict:
    • Home Inspection: Think of home inspections as an insurance expense. Homes, especially lake homes, have issues as they age. A home inspection is less expensive than finding issues after you purchase the home.
    • Survey: As property ages and people move in and out of the property, the question of who owns what gets complicated. Surveys solve this issue by clearly defining property lines and boundaries.
    • Geologic Report: If your lake home is close to water, water fluctuations might cause issues with the home. Geologic reports help determine if the property is stable.
    • Clear Title: Now more than ever, home buyers need title insurance. Title insurance guarantees that the person selling the property has legal rights to sell it. This protects you from scams by people selling property they don’t own.
    • HOA/POA Regulations: Homeowner and property owner associations determine what you can do on your property. These can change, so be sure to stay up-to-date on them.
    • Lake Regulations: Every lake has rules about how to use the lake. These rules include permitted watercraft, shoreline regulations, dock/pier construction, and more. Knowing these rules prevents surprise fines.
  2. Forgetting to Consider Maintenance: Lake home maintenance includes more than the house. If you own a waterfront house, you must also maintain your shoreline. This also includes docks or piers on your property.
  3. Failing to Research Insurance Costs: Lake homes often require additional insurance costs compared to typical property. For example, many lake homes require flood insurance.
  4. Agent is not a Lake Expert: Using a real estate agent focusing on lake property helps you save money. They ask questions that someone not familiar with lake property wouldn’t think to ask. They also know how to guide you through the process of lake real estate better than other agents.

While buying a lake home creates plenty of excitement, there’s also risk involved. Not being prepared leads to costly mistakes after the transaction. Visit lakehomes.com, where expert lake agents will guide you through the lake real estate process and help you avoid these mistakes.

Whiteboard Topics: 6 Expensive Mistakes Made by Lake Home Sellers

When selling your lake home, you’ll want to avoid making certain mistakes. Glenn Phillips, CEO of Lake Homes Realty, discusses six mistakes made by lake home sellers.

  1. Failure to Truthfully Disclose: Truthfully disclosing information isn’t just a good idea; it’s the law. Failure to disclose known problems with the home leads to legal ramifications. When this happens, you not only have to fix the problems, but you also have to pay the attorneys.
  2. Overpricing: After overpricing a home, it sits on the market for a while. Then, after several price cuts, buyers make an offer lower than the cut price. These low offers lead you to miss out on money you could have made by appropriately pricing the home.
  3. Agent is not a Lake Expert: Lake homes have nuances that typical real estate doesn’t have. Automated systems and general agents often don’t factor in these nuances in pricing. These inaccurate pricings end up costing you money down the line.
  4. Picking Agent Based on Large Number of Listings: An agent with numerous listings that aren’t selling is a sign they might not be good at selling. Homes sitting on the market for extended periods lead to price cuts and ultimately less money for you.
  5. Refusing to Counter an Offer: A low offer is better than no offer. Countering allows you to explain why you’ve listed the house at the listing price and opens a conversation. Refusing to counteroffer will oftentimes end a sale before it even happens.
  6. Selling in 1 Day or 1 Weekend: Buyers for lake properties typically aren’t local. They can be 2 hours away or several states away. Looking at several offers before selling allows you to maximize your potential earnings.

If you’re looking to sell your lake home, you’ll want to avoid these costly mistakes. Not being diligent in the selling process leads to money left on the table as well as additional costs. Visit lakehomes.com, where you can find expert lake agents who will help you through the selling process.