Tag: lake life

Whiteboard Topics: Selling A Lake Home. Should I Replace the Roof First?

Posted on Zac Parnell

There are many things that you should do when selling a lake home. It could be some updates around the house or even some bigger tasks to enhance curb appeal. However, you might be wondering if replacing the roof is worth it. Lake Homes Realty’s CEO, Glenn Phillips, discusses whether this task needs to be done.

  1. Your Lake Home Needs a New Roof: Does your home actually need the roof replaced or is it just something you think needs to be done? Sometimes it might just be something you only believe is necessary.
  2. New Roof Does NOT Increase Value: Some people might think if you replaced the roof you can add more money to the price. It doesn’t really work that way. Buyers are expecting a functional roof when looking for a home.
  3. Old Roof Decrease Value: However, on the opposite side of things, having a roof that does need replacing or isn’t really functional will decrease the value of the home. Just because a new one doesn’t bring up the value doesn’t mean an old one can’t drop it.
  4. Lenders May Require a New Roof: After a home inspection and appraisal, these lenders might require a new roof to be added. This lowers the risk of the asset.
  5. Your Choice – Spend or Discount: When everything boils down to it, it’s ultimately your choice. You either spend the money on a new roof if needed or discount the price due to not replacing it.

At the end of the day, you might have more questions similar to this. One of the best ways to obtain this information is by reaching out to an expert at LakeHomes.com. They would love to provide the assistance you might need!

Whiteboard Topics: What To Really Ask A Lake Real Estate Agent

Posted on Zac Parnell

Someone’s real estate journey is more than likely going to warrant some questions. Even if you might have a good chunk of knowledge when it comes to real estate, the lake market can be different. Before you start any process of buying or selling, you should think about some questions you might have. Luckily, Glenn Phillips, Lake Homes Realty’s CEO, discusses what you should really be asking your lake real estate agents.

  1. Which Agent…: Questions along these lines are some you might think you need to ask or get an answer for, but in actuality, they aren’t the important ones.
    • A) Has The Most Listings?: You might think finding the agent who has the most listings is the agent you want to work with. However, just because an agent has many listings doesn’t mean they’re being sold. You can find an agent who has a lot of listings while also selling those listings.
    • B) Do I Personally Like?: Everyone likes someone with whom they can get along, but that doesn’t mean that’s the agent for you. While you should find someone you can get along with, it’s more important to find an agent who will help guide you through this big transaction.
    • C) Has an Office Nearby?: This point is something that matters to sellers on occasion. But when it comes to buyers, they don’t necessarily care. Buyers are able to search online and don’t need an office to go into. A buyer wants to see the house, not an office.
  2. Questions You Should Answer:
    • A) MOST Capable of Helping Achieve MY Goal?: One of the most important questions that should be answered is which agent will help you with your goal. You’re the one making the transactions and your goals are what’s important.
    • B) All Agents the Same?: Not all agents are the same. You should be looking for the ones who are equipped to handle your needs and what you are looking for.
    • C) Focused on Lake Real Estate?: Similarly to the previous point, find the ones who have the focus. Working with a lake market expert is what you want during this process. Any other agent you should exclude. Lake agents know the ins and outs that other agents simply wouldn’t know.
    • D) Can Prove a Pipeline of Out of Town Buyers?: If the agent can show you that they have people coming from out of town to buy, you should keep note of that. This is a good thing as it brings people from outside the local market looking and buying.

Simply put, certain questions are more important to ask a lake agent. You might think you’re asking the correct ones, but some of them require a lot of expertise. If you’re ready to start asking the questions, reach out to a lake expert today at LakeHomes.com. They would love to help you on your real estate journey.

Whiteboard Topics: Lake Home Real Estate Expectations For Fall 2024

Posted on Zac Parnell

Summer is winding down and so is the height of lake season. As we head into the fall and winter months, you might be wondering what the lake home real estate market is going to look like. You might be asking yourself if it is a good time to buy or sell, should you wait until warmer weather, or just how everything looks. Lake Homes Realty’s CEO, Glenn Phillips, breaks down how things are looking as we head into these cooler months.

  1. Inventory Growing (Selection!): Going into the fall, the inventory is growing. This is a good thing because ultimately you have more selection. While there are still plenty of overpriced homes, slowly these prices could drop as inventory continues to increase.
  2. Mortgage Rates “Sort of” Irrelevant: There have been discussions about the dropping of mortgage rates. However, these are almost irrelevant when it comes to lake real estate. More than half of the transactions the agents at Lake Homes Realty do are done in cash. This has more to do with the buyers’ sentiment towards mortgage rates. Most of the time, lake home buyers can typically afford the mortgage.
  3. Buyer Demand Strong but Hesitant: The traffic coming to LakeHomes.com is there.
    • A. Discretionary: The buyers aren’t buying unless they really see what they are looking for.
    • B. Selective: Price is one of the biggest things buyers have been selective on.
    • C. Distracted (Election, Holidays): Every 4 years the buyer population gets distracted due to the election. Not to mention holidays when more people are busy with many other things. This can result in a slower rate of buyers.
  4. Realistic Transactions Move Quick!: The lake homes where pricing is realistic are moving quite quickly. The growing inventory tends to be the ones that aren’t priced accordingly.

As we continue to make our way into the fall season, just remember you can still buy and sell. If you’re planning on selling, price properly. If you’re looking to buy, the inventory is growing, so keep looking. As always, there are plenty of lake real estate experts always ready to help. If you would like to connect with one today, head over to LakeHomes.com to find one for you!

Whiteboard Topics: Is A Friend The Best Choice For A Lake Home Transaction?

Posted on Zac Parnell

Buying or selling a lake home can be a strenuous process. With that being said, you might think it’d be a better idea to get help from a friend who is a real estate agent. However, this might not always be the best option. Glenn Phillips, Lake Homes Realty’s CEO, shares his thoughts on the topic.

  1. It’s Business: Think about it from the sense of a doctor. The friend wouldn’t be offended if you were to go see a doctor who has more expertise in the matter. The same thing goes for real estate agents. Lake agents at Lake Homes Realty are the experts when it comes to the lake market.
  2. Have Your Friend Explain “Why are they THE Best Choice?”: Having your friend be able to explain why they would be the better option to choose over someone whose everyday market is the lake. This is a great opportunity for them to share why they think they would be the one to go with.
  3. Generalist vs. Specialist: Just because your friend might have sold a lake home a few times doesn’t automatically make them a lake specialist. They won’t know the different nuances that go into buying and selling on the lake, and that’s okay. A lake specialist will be able to keep up with what is going on in the lake market in ways someone else might not be able to.
  4. Point Out Something Unique in Your Choice: Are you able to give a reason why you would choose them? Be sure it’s something that is different than them just being your friend. You really want to have someone who has the unique things others don’t.
  5. A Real Friend Will Understand: At the end of the day, if you explain why you don’t pick them, that friend should be able to understand. These are big transactions, so going with someone who knows the ins and outs is always important.

If you are starting the process of buying or selling and need to find a lake expert, head over to LakeHomes.com. There are plenty of agents there who would love to be a part of this journey with you and guide you through it.

Whiteboard Topics: Why Are There Not More Buyers For Lake Homes?

Posted on Zac Parnell

To many people, it seems as though there aren’t that many buyers in the market. Is this actually the case or could there be another reason behind this? There have been transactions taking place, but not to a level where they would seem to be skyrocketing. Glenn Phillips, Lake Homes Realty’s CEO, explains why there aren’t more buyers in the market and what could be causing it.

A. Modest Market Improvement:

  1. Inventory is Larger- There is currently more selection. This is a good thing that could bring in more potential buyers.
  2. Mortgage Rates- The rates are currently showing signs of dropping.
  3. Buyers Demand Strong- At LakeHomes.com, we can see that the web traffic is heavy, which means they are buying and shopping.

B. Still, Buyers are Waiting On…:

  1. Realistic Pricing- Because the inventory has grown, many houses are priced way above what they should be. There have been signs showing more realistic pricing is on its way.
  2. Selection- There is a decent selection, but after taking away the homes that are not priced appropriately, the selection is smaller.
  3. Election and Holidays- Every 4 years during election time, there is a slower time period of people actually looking at these properties. It is a hard thing to attribute because most people can’t even really explain why this happens. As the end-of-year holiday season approaches, things slow down mainly due to busy schedules.

Buyers might not seem like they’re out there, but they are. When it all comes down to it, they are simply waiting. One thing that can really change is pricing homes correctly. Things pick up pace when a home that’s priced accordingly is on the market. If you’d like more information to help you navigate this topic or any other real estate question, connect with an agent at https://www.lakehomes.com/ today.

Whiteboard Topics: Lake Real Estate Trends You Should Know

Posted on Zac Parnell

Real estate trends can change more often than you realize. That includes the trends that are specifically involved with the lake real estate market. It’s always a good thing to be up to date on what’s happening in the world of real estate, whether you’re buying or selling. Luckily, Lake Homes Realty’s CEO, Glenn Phillips, has all the insights you might need.

  1. Mortgage Rate Independent: This means if mortgage rates are on the rise, transaction rates at the lake typically aren’t affected. This all boils down to around half of the transactions being done through cash. Even if a buyer does end up getting a mortgage, they typically have the means to be able to get better rates.
  2. Inventory “Issues”: Inventory as a whole has grown since COVID-19 happened. However, the transactions haven’t been flowing as much. This is mainly due to people not matching their homes for the price they’re worth today.
  3. Strong but Very Practical Demand: People who are more thoughtful about their money won’t be willing to pay the COVID prices that others were four years ago. These buyers are always interested, but they’ll wait.
  4. Competitive Bidding “Spotty”: There hasn’t been as much competitive bidding now as there was in the past. This is especially true when the homes are overpriced. The few homes that are getting competitive bids are designing their offer to be very practical.
  5. Aspirational Pricing: This type of pricing is never really attainable due to what the home is priced at. The sellers might see what others are doing or think they can sell for and that’s more than often not the case.
  6. Multiple Market Shopping: Sometimes, buyers aren’t looking at one lake or even one state. However, they can be looking at multiple lakes in different states.

Before you start looking to buy or plan to sell, knowing the trends is always important. If you are looking for even more information about these trends or anything else regarding lake real estate, visit https://www.lakehomes.com/. There are plenty of agents who are ready to help you today.

Whiteboard Topics: Why Lake Homes Realty Does Not Provide “Guaranteed Offers”

Posted on Zac Parnell

When selling a lake home, everyone wants the best offer. Sometimes, you might see signs or billboards from other real estate companies mentioning a guaranteed offer. You also might wonder if this is something Lake Homes Realty offers. Glenn Phillips, CEO of Lake Homes Realty, provides his insight into why this isn’t something Lake Homes Realty provides.

  1. “Guaranteed Offer” Does Not Equal “Full Price Offer”: A lot of times, when you see something claiming it has a guaranteed offer, it doesn’t typically mean the full price offer. That’s not to say you won’t get a guaranteed price; however, it usually isn’t the number you were thinking you’d get.
  2. Fine Print Matters: This might seem like a really good thing from a different brokerage. However, you need to read the fine print and see what it truly entails. Having a set number in mind and walking away with something completely different could be a possibility. This is why it’s crucial to understand the logistics of what will take place with these kinds of offers.
  3. Wholesalers: More times than not, wholesalers are typically where these offers stem from. It might not necessarily be the brokerage itself. Similarly to loan officers, these packages are made as one can be with a mortgage package.
  4. Good for Sellers or “Bait-n-Switch?”: This type of offer might be something that could be beneficial for you. But you should look into what it is. Sometimes these offers can be set so that if you don’t sell in a certain amount of time, the offer is changed. This can result in financial disappointment.
  5. Time Frame: If you’re looking to sell in a rather quick time frame, you might want to think about it a little more. The guaranteed offer could be based on how long it would take to sell your home. So make sure you consider how long you’re willing to wait.
  6. Our Focus: Help Sellers Meet Financial Goals: At Lake Homes Realty, one of the goals is to really help the seller and whatever their goal might be. When it comes to guaranteed offers, there really isn’t a way to achieve that.

Some people might be okay with guaranteed offers. However, if you’re someone who wants to maximize your profit, that’s what Lake Homes Realty is here to help with. If you would like to start the selling process or get more information, reach out to a lake agent today!

Whiteboard Topics: Important Website Info When Selling A Lake Home

Posted on Zac Parnell

When it comes to selling a lake home, one way to get it seen more is through marketing. There are many different ways that Lake Homes Realty can offer valuable marketing efforts. Sometimes, different phrases, such as “webpage views,” along with other terms, can be misconstrued. Check out what Glenn Phillips, CEO of Lake Homes Realty, has to say regarding this topic.

  1. “Webpage View”: Back in the earlier days of the internet, this used to be called a hit. Essentially, this means someone clicking on your property and viewing it on the website. If you were to leave the website and look again later, that’s another view.
  2. Not All “Webpage Views” Are Equal (Audience Matters!): Something that is almost more important is the amount of engagement you are getting. The website is there to help drive people to your property and maximize the number of people aware of your property. Getting more views and having no interaction isn’t the end goal.
  3. High Number Can Reveal Overpricing: If you are getting a high number of page views but no traction, that typically means the property is overpriced. If the property is just sitting online, racking up views without engagement isn’t something you want to work towards.
  4. Low Number Can Reveal Overpricing: On the Lake Homes Realty website, you can view the properties without even clicking on one. Some people might see how high the property is priced and not even bother clicking on it. This results in those low page view numbers.

While web page views are important and can show some insight, they can also be deceptive. At the end of the day, you’re really looking to find that good middle ground between engagement and web page views and many agents at Lake Homes Realty would love to help you achieve these results. Reach out to one today and see what they can do!

Whiteboard Topics: Why Are Lake Home Owners Selling These Days?

Posted on Zac Parnell

Living life at the lake is something a lot of people love or want to experience. While this is true, you might be seeing more and more people selling their lake properties. Why is this? There are a few reasons why lake homeowners are selling. Glenn Phillips, CEO of Lake Homes Realty, has the answer to this question.

  1. Age-Related: Owning a lake property can become something that involves a lot of maintenance and upkeep. At a certain point in life, you might not want to fool with those things anymore. That’s not to say you didn’t enjoy and get the most out of the lake home.
  2. Life-Style Changes: You might have had the lake home when the kids were younger, and now some of the family has moved away. Lifestyle changes can even lead to interest changes. Many life events or changes can alter the amount of time you spend at the lake compared to how much you once did.
  3. Financial Opportunity: If you’re looking for time to get a good return on your investment, selling might be something that is being considered. This point is usually a more practical one in comparison. However, at the end of the day, if it’s something you’re wanting to do, now’s a great time to do so.

If you’re thinking of selling or it’s been on your mind, consider where you might fall in terms of these 3 points. More than likely, it will be one, if not multiple. Like always, the lake market experts at LakeHomes.com are willing to help and give advice. Reach out to one of them today.