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.
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.
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.
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.
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!
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.
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.
Have YourFriend 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.
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.
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.
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.
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:
Inventory is Larger- There is currently more selection. This is a good thing that could bring in more potential buyers.
Mortgage Rates- The rates are currently showing signs of dropping.
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…:
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.
Selection- There is a decent selection, but after taking away the homes that are not priced appropriately, the selection is smaller.
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.
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.
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.
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.
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.
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.
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.
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.
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.
“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.
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.
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.
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.
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.
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!
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.
“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.
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.
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.
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!
Have you ever discovered a poison ivy rash after a long day of gardening at your lake house? As nature lovers, we’ve all been there. While poison ivy might first come to mind when you think of poisonous plants, there are many other hazardous plants to look out for. To avoid these plants, it’s crucial to recognize them. We spoke with experts in the gardening industry for advice on identifying hazardous plants, especially those common at lake houses.
Let’s start with the basics. Hazardous plants produce toxins as a survival mechanism to keep herbivores at bay. The poison does no damage to the plant itself because once the poison is stored, it becomes “locked away” in cell vacuoles. It only affects those who touch or try to ingest it.
However, not all toxic plants are the same. The toxin levels differ based on the plant, and only some parts of the plant may be poisonous. For example, a rhubarb plant’s stem can be eaten (it makes excellent pie) but its leaves are poisonous to ingest. Further, some plants are toxic but medicinal in smaller doses. Doctors have used the poisonous foxglove plant to create Digoxin, a heart failure medication.
Most people have toxic plants in their yard, even if they don’t know it. Some well-known poisonous plants in the U.S. include oleander (its poison is the subject of the movie White Oleander), angel’s trumpets, foxglove, milkweed, poison sumac, poison oak, wild parsnip, and pencil cactus. As a caveat, these plants, which can be hazardous, are not all bad. For example, the milkweed plant is vital to the livelihood of the endangered monarch butterfly. So if you plant it in your yard to attract these beautiful insects, be sure to keep it away from kids and pets. However, some hazardous plants are more common in lake areas. Derek Gaughan, owner of Prince Gardening, names four to look out for.
The first is hemlock or poison hemlock. Hemlock is famous for causing Socrates’ death, and once ingested, it’s usually too late for treatment. Poison ivy is also incredibly common among lake homes and cabins. Similarly, stinging nettles, identifiable based on their hairy leaves that embed into the skin, are found in wooded areas and streams. Finally, daffodils are also hazardous. “However,” Gaughan clarifies, “this is more dangerous to pets who may ingest it than humans.”
Hazardous plants differ depending on your lake area’s climate and soil type. For this reason, the U.S.D.A. Hardiness Zones tool is especially useful. This resource helps you determine which plants are most likely to thrive in your area of the country. Whether you’re in zones 1-3, 4-6, or 7-9, you’ll be at risk for a unique set of hazardous plants. “When it comes to identifying toxic plants, you don’t have to know all of the toxic plants in the world,” says Gregory Birch, owner of Gardens of Bacchus. “Instead, you should spend time familiarizing yourself with the toxic plants in the regions where your lake house is. These are the plants that pop up unexpectedly.”
Because hazardous plants have overlapping characteristics, they’re hard to identify. Derek Gaughn recommends searching for your state on the USDA’s Agricultural Research Service. Additional tools include the U.S. Fish and Wildlife Service’s brochure and Greenbelly’s guide to identifying poisonous plants. Using these resources, Emma from Garden Zoo concludes that “the best way to identify hazardous plants is to familiarize yourself with pictures of the varieties common to your area.”
Additionally, some rules of thumb can help you identify hazardous plants. For instance, many poisonous leaves have a waxy sheen to help them create toxins. If you notice this sheer coating, avoid the plant. It’s also important to avoid brightly colored berries. Finally, the old “leaves of three? Let it be” aphorism helps identify poison ivy.
To take an active approach and prevent these hazardous plants from growing, planting native flowers and plants is helpful. Mowing frequently will also discourage hazardous plants from growing. However, if you do discover problematic plants, you can take a few different approaches.
Derek Gaughan recommends treating them with an herbicidal spray containing 2,4-Dichlorophenoxacetic acid. Although chemical sprays are effective, Dan Bailey, president of WikiLawn, advises using something organic if possible. “Many of the commonly-used chemicals (Roundup’s formula, for example) can also do significant damage to your lawn,” he warns. Another intervention is cutting poisonous plants off from the sun and water so they’ll die on their own.
When removing hazardous plants, take necessary precautions by wearing thick boots, long sleeves and pants, and gloves. Afterward, wash your hands thoroughly, and don’t touch your face. If you accidentally touch the plant, the CDC recommends immediately rinsing your skin with rubbing alcohol, degreasing soap, and water. For itches, use an antihistamine as directed.
Although your yard may not be a total Little Shop of Horrors situation, it’s best to stay vigilant about hazardous plants. From us at Lake Homes Lifestyles, we hope your garden thrives this summer!
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.
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.
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.
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.
As the 2024 Summer Olympics commences in a few days, why watch when you and your loved ones can join in on the excitement? While not everyone can travel to Paris, you can bring the Olympic games to your own lake! With a bit of creativity and organization, you can transform your lake into a hub of thrilling activities. Here’s a guide to hosting your lakefront Olympics, featuring games and activities that guests can enjoy both on and around the water.
Start your Lake Olympics with a community kickoff that captures the essence of the games. Gather family, friends, and neighbors for an opening ceremony with music, dance, and even a symbolic lighting of a homemade Olympic torch. This inclusive start sets the stage for a day of fun competition inspired by the grandeur of the 2024 Paris Olympics.
Let’s first design a diverse lineup of events that will keep everyone entertained. From traditional Olympic sports to quirky lake-themed games, there’s something for everyone to enjoy. Here are some fun ideas to get you started:
Paddleboard Relay Races – In the spirit of the upcoming Paris Olympics, divide participants into teams and have them race across the lake on paddleboards. This fun and challenging event tests balance and teamwork, guaranteeing lots of laughter and excitement.
Floating Obstacle Course – Create a floating obstacle course using inflatable platforms, buoys, and floating hoops. Participants navigate the course, jumping, climbing, and swimming their way to the finish line, reminiscent of an Olympic adventure challenge.
Water Polo – Set up a water polo match in a section of the lake. Teams compete to score goals by throwing a ball into the opposing team’s net, emulating the fast-paced and exciting nature of Olympic water polo.
Open Water Swimming Race – Establish a designated swimming course in the lake for an open water race. Swimmers compete over a set distance, showcasing their endurance and speed.
Rowing Regatta – Host a rowing regatta with teams competing in traditional rowing boats. This event captures the essence of Olympic rowing, emphasizing teamwork, strength, and synchronization.
Water Bucket Relay – Organize a water bucket relay where teams race to fill a larger container using smaller buckets. Participants run to the water, fill their buckets, and then race back to pour the water into their team’s container. The team that fills their container first wins. This event combines speed, teamwork, and a refreshing splash, making it a perfect addition to your Lake Olympics.
Tug-of-War – Get teams together for a classic tug-of-war challenge. This simple yet exhilarating game is a great way to foster team spirit and camaraderie among participants, much like the team sports in Paris.
Volleyball – Set up a net on the sand and host a thrilling beach volleyball tournament. Teams compete in matches, showcasing their skills in serving, spiking, and diving for the ball. With the beautiful lake as a backdrop, participants and spectators alike can enjoy the excitement and energy of this classic sport.
Flag Football – Create a field on the lake for a lively game of flag football. Teams compete to score touchdowns by pulling the flags from their opponents’ belts instead of tackling. This fast-paced, non-contact sport is perfect for the sandy shoreline and encourages teamwork, strategy, and friendly competition.
Water Balloon Dodgeball – Set up a dodgeball game using water balloons. Participants must avoid being hit while trying to eliminate their opponents, adding a refreshing twist to the traditional game.
Hosting the Olympics at your lake is a fantastic way to bring your community together for a day of fun, fitness, and unforgettable experiences. With these engaging activities and a positive, upbeat atmosphere, your Lake Olympics will be a highlight for everyone involved. Let the games begin and let your lake shine as brightly as the lights of Paris!
