As you’re getting ready to put your lake house on the market, the topic of selling price will always come up. More than likely you will think “Can I get more money for my lake home?” Lake Homes Realty’s CEO, Glenn Phillips, explains a few different ways to help push for that price you want to sell for.
Start with a Market Appropriate Price: Buyers don’t care how much money you have put into the home. Most of the time they will be looking at the current market conditions. When you start at a high price to test the market, it usually does not result in the way you would like.
Be clearly the best VALUE in the area: Don’t automatically make your lake home the lowest price. However, check out surrounding homes and see what’s going on. Are there nicer or newer homes nearby? Are these homes your price or lower? New construction may also become a player in this.
Picture Perfect/Move-In Ready: Whether you already have your home staged or simply have your own property in the house, make sure it appears move-in ready. Buyers typically lack imagining this aspect and this will help you stand out.
Would you buy it today at your price? Each day the house doesn’t sell and remains on the market, you are effectively buying it again at your price. In reality, the only price is that of what someone will pay and what you’re willing to accept. Price accordingly and price from a buyer mindset.
At the end of the day, these 4 tips are useful in getting the best return and sell price for your lake home. , Connect with one of our lake agents today at lakehomes.com and see what they can do!
A foreclosed home on the lake is a rare find. Lake Homes Realty’s CEO, Glenn Phillips shares why your search for one is coming up short.
LakeHomes.com, MLSs, & Other Websites: While homes like these are available on sites like LakeHomes.com, you may have trouble finding them because of how few there are.
Why So Few?
Not the 2008 Market: While inventory spiked during the recession, this was not the case for lake properties. This is because lake homeowners are more financially sound than the average buyer.
Interest Rates Affecting Sellers: Lake homeowners that have a mortgage don’t want to battle with increasing interest rates when buying a new home.
Lenders are Well Positioned: Due to past real estate crises, lenders have policies in place to ensure they work with stable buyers.
Majority Do Not Have a Mortgage: More lake home buyers paying in cash means fewer mortgages and fewer foreclosures.
If you still have your heart set on a foreclosed home, LakeHomes.com will have the few left available!
Purchasing a lake home is not something to take likely. Before you commit to a property, consider these factors from Lake Homes Realty’s CEO, Glenn Phillips.
Bridges?: The location of bridges will impact how convenient it will be to travel around the area. However, the closer you are to one, the closer you’ll be to traffic.
Water Levels?: The water level can vary by lake, season, and time of day. It’s important to know the behavior of your preferred lake, as the changing levels can affect lake activities.
Shoreline Restrictions?: Research the restrictions surrounding the shoreline, as they tend to fluctuate throughout the area.
Land Restriction?: Most lakes are owned by an organization, which means you’ll run into leased-land properties. You’ll have to follow their guidelines when buying these types of homes.
Water Restrictions?: Living by the lake doesn’t guarantee you have free range on the water within it. Check out the rules around water activities, water addition/removal, etc.
When buying a lake home, the property itself isn’t the only thing to consider. Be sure you can live the lake lifestyle you want before you buy!
From lakefront water parks to quaint shopping squares, family-friendly lake towns offer the ultimate vacation experience. Plus, these destinations are situated in various regions of the country, meaning you can find your next favorite vacation spot without driving for days. So if you’re ready to begin this year’s family adventure, check out these top lake towns!
Imagine soaking in picturesque mountain views only an hour from one of the South’s largest cities. This is vacationing at Lake Lanier—a family-friendly lake town surrounded by the Blue Ridge Mountains and situated near Atlanta. In addition to fishing, boating, and swimming adventures, Lake Lanier boasts the Terminus Wake Park. This thrilling aqua and wake park features an inflatable water playground and cable water sports—perfect for families with kids of all ages. Additionally, Lake Lanier visitors can go whitewater rafting, canoeing, kayaking, horseback riding, and hiking.
Boasting 80 islands, stunning waterfront parks, and intriguing historical sites, Lake Champlain makes for an unforgettable family vacation. On the Vermont side, the lake’s largest waterfront city, Burlington, attracts more than 13 million visitors annually. In addition to enjoying the lake’s parks and beaches, families can browse the town’s quaint shops at Church Street Market Place and bike the eight-mile waterfront trail. Other popular activities include the Ethan Allen Homestead Museum, World’s Tallest Filing Cabinet, Petra Cliffs Climbing Center, and Vermont TeddyBear Factory.
Nothing compares to spending a day at Lake Lure Beach. Showcasing a water park, aquatic games, and a sandy beach, Lake Lure‘s beach will keep the kids entertained for hours. After this, you can round the family up and experience the lake’s pristine waters on the Lake Lure Boat Tours. And the fun doesn’t stop there. Nearby Chimney Rock State Park offers breathtaking mountainous views and contains several hiking trails and the 2nd largest waterfall east of the Mississippi. Plus, after conquering these outdoor excursions, you can grab a bite to eat and explore the shops of Chimney Rock Village.
Offering both recreation and relaxation, these lake destinations provide well-rounded family fun. So no matter which region of the country you want to visit, you can find an excellent location for your next family vacation!
Nearby Chimney Rock State Park offers breathtaking mountainous views and contains several hiking trails and the 2nd largest waterfall east of the Mississippi. Plus, after conquering these outdoor excursions, you can grab a bite to eat and explore the shops of Chimney Rock Village.
If you want to maximize your return on your lake home, check out these tips from Lake Homes Realty’s CEO, Glenn Phillips.
Remove Attachment: Refrain from equating your attachment to the home with its value. You should treat this process like any other transaction.
Price Strategically (Appropriately): Overpricing your home will cause it to become stale on the market, which will inevitably force you into a series of price cuts. Soon, you’ll notice buyers only presenting you with lowball offers.
Use Time Correctly: If you sell your home too quickly, you may be leaving money on the table. Give out-of-town buyers a chance to present you with better offers.
Think NET vs Price: Commission fees will affect the net earnings on your home, but investing in a solid real estate agent will ensure you walk away with the most money possible.
Extra Exposure: The right exposure will make all the difference in selling your home. Websites like LakeHomes.com have a database full of qualified buyers looking for a home like yours.
Before you put your house on the market, be sure to consider these factors to get the most from your investment!
Leased lots are more common around the lake than you think. Lake Homes Realty’s CEO, Glenn Phillips, shares why you should consider purchasing these properties.
Common on Many Lakes: Larger lakes were built by power companies, and in order to maintain control of the surrounding land, they prefer to lease lots instead of selling them.
Buy House, Transfer Lease: When buying a home on these lots, the lease will get transferred to the new owners of the property.
Reconsider Time of Homeownership: There’s no need to fear the time length of a lease. If you want to stay longer than your allotted time, you can always renew it. If you’d like to leave sooner than expected, the lease will be transferred to your buyers.
Can Still Finance a Home: Local lenders who are familiar with this structure will have no issue helping you finance.
Buying on a leased lot is a great option for buyers. Remember, you aren’t restricted to the timeframe of the lease because of renewal and transfer options!
The Poughkeepsie and Hudson River Clubs were prominent ice-yachting organizations.
The ice boat has become smaller, sleeker, and faster over the years.
Ice sailing continues to grow in popularity, especially in North America and Canada.
Previously on Lake Homes Lifestyles, we discussed all the ins and outs of ice sailing. But did you know this modern winter sport has some fascinating historical roots? In fact, some archeologists believe that ice boats originate from the Scandinavian region as far back as 2000 B.C. However, little evidence exists to support this claim. More concretely, the ice sailing we know today dates back to the 17th and 18th centuries on the Gulf of Riga and in the canals of the Netherlands. The Dutch were the grandfathers of ice boating, attaching a plank and runners to a traditional sailboat to navigate their country’s frozen canals. However, ice sailing’s history does not end there, as it has become more prominent in North America over the past two centuries. Read on to learn the exciting history of this invigorating winter sport.
Ice sailing’s growing popularity in the 17th and 18th centuries led to the formation of boating clubs in the 19th century. The Poughkeepsie Ice Yacht Club in New York was the first club to organize, forming in 1865. Then, the Hudson River Ice Yacht Club grew from the Poughkeepsie Club and was organized in 1870. The wealthy in the Hudson River area attached quickly to the fast-paced fun of ice yachting, commissioning architects to construct faster and more attractive ice vessels. One of these wealthy families was the Roosevelts. In fact, former U.S. president Franklin Delano Roosevelt spent many wintry days of his Harvard years on the ice boat HAWK—now preserved at the Home of Franklin D. Roosevelt National Historic Site.
In Europe, other ice boating clubs were organized, such as a Swedish Club founded in 1901. And in 1928, Latvia, Lithuania, Estonia, Sweden, Austria, and Germany joined to create the European Ice Yachting Union.
Regarding structural design, today’s ice boats do not dramatically differ from their historical counterparts. Nonetheless, they have become more sophisticated and enhanced their functionality and velocity. Ice boats in the 19th century were large vessels, reaching 69 feet in length. Wealthy boat owners would sail in these vessels with up to seven crew members. However, even at this unnecessarily large size, 19th-century ice boats reached speeds of up to 107 miles per hour—not drastically far behind the current record of 143 miles per hour.
But then, in the early 1900s, smaller ice boats, called scooters, began to make a splash. These were constructed without a rudder and could navigate ice and shallow water. Next, in 1930, front-steering boats replaced the traditional stern-steerer vessels. Finally, in 1970, ice boats began to mirror today’s vessels, trading wood for fiberglass and laminate materials.
After World War II, ice boating became less prevalent in European countries. However, the winter sport remained popular in the United States and Canada. Ice yachting clubs today stretch from the Northeast to the Midwest and Ontario. Plus, DN (Detroit News) North America hosts many national and international tournaments throughout the year. You can find this year’s schedule here.
Now that you know a little bit more about the history of ice sailing, you may want to try the sport yourself. If so, you can learn all ice boating basics in our Intro to Ice Sailing.
Have you been wondering if buying a lake home is the best financial move for you? Lake Homes Realty’s CEO, Glenn Phillips, gives 4 reasons why lake properties are a good investment.
Discretionary Asset: People in this market don’t feel pressure to make rash decisions around a home, making lake real estate more stable than others.
Little Impact from Mortgage Rates: The majority of transactions are cash and those who choose to finance through other means almost never have issues. Because of these reasons, mortgage rates don’t play a major role in their decision-making process.
Foreclosures are Rare: When you’re in competition with cheaper, foreclosed homes, it’s harder to sell your home for what it’s actually worth. In the lake market, this issue rarely happens to this demographic.
Somewhat Economy Independent: Even in economic uncertainty, lake homes tend to hold their value, making them a great placeholder for your money.
Nothing is completely risk-free, but purchasing a lake home is one of the safer ways to invest your money!
An ice boat has four basic parts—the hull, the runner plank, three skates (or runners), and a sail.
Ice boats can reach speeds of more than 140 miles per hour.
There are two methods of boating: sailing downwind or going upwind.
There are several upcoming ice boating competitions in the U.S. for 2023.
Imagine feeling the breeze rush against your face as you glide across the ice at invigorating speeds. Welcome to the world of ice sailing, also known as ice boating or ice yachting—a fast-paced, thrilling winter lake sport enjoyed worldwide. In the United States, many northern lake destinations—such as Michigan, Wisconsin, Minnesota, Ohio, Indiana, and Illinois—feature lively ice sailing clubs and exciting annual competitions. Perhaps you’ve wanted to visit one of these wintry havens and try the sport for yourself. If so, check out our intro to ice sailing before you go!
An ice boat has four basic parts—the hull, the runner plank, three skates (or runners), and a sail. The hull must support one or two crew members and have floating capabilities in case it slips into the water. Historically, ice boats have utilized a wooden hull, but today’s vessels incorporate fiberglass or laminate.
The runner plank rests at the stern of the boat and is made of wood, laminate, or metal. Generally spanning 6.5 feet long, the runner plank lies perpendicular to the boat’s main axis. Additionally, three skates—also called runners—attach to the principal runner plank. Two of these smaller runners connect to each end of the main runner and function like large ice skates. In addition, the steering runner joins the bow and features a parking brake, preventing the wind from moving the boat. The steering runner is especially useful in keeping the boat in place before the race begins.
Lastly, the sail—crafted with canvas or synthetic fabrics—powers the boat’s speed. The sail functions as the vessel’s “engine” and can span 35–1,000 square feet according to the boat’s size.
If you live in a lake area with plenty of ice and snow, the ice sailing opportunities are endless. Plus, you don’t have to worry about air pollution when you engage in this pastime. Since ice sailing is wind-powered, it is an extremely green sport.
Ice boats can reach speeds of more than 140 miles per hour, therefore, it’s essential to take some necessary precautions. If you’re new to the sport, IceBoat.org recommends purchasing an inexpensive DN-class boat, which is fairly easy to navigate and transport. They also advise racing with an ice yacht club for a couple of seasons. Then, after you become acclimated to the sport, you can upgrade your vessel and start boating solo.
When it comes to navigating, an ice boater must skillfully direct the vessel, capturing enough wind to generate velocity and power. The sail propels the boat at different speeds using two methods: sailing downwind or boating upwind. When an ice boat sails downwind, it is pushed along by the breeze and cannot exceed the wind’s velocity. However, when sailing upwind, the ice boat uses a zigzagging technique, gaining traction from the force of its own motion to augment the velocity of the wind.
Throughout the year, various ice sailing clubs around the world host large tournaments. In the United States, you will mostly find these gatherings in Michigan, Wisconsin, Indiana, Illinois, Ohio, or Minnesota. Check out a few of the upcoming U.S. tournaments here.
With our intro to ice sailing, now you know what to do and where to go. So what are you waiting for? Grab your ice boat and hop on the lake!
In the United States, many northern lake destinations—such as Michigan, Wisconsin, Minnesota, Ohio, Indiana, and Illinois—feature lively ice sailing clubs and exciting annual competitions.
