Lake Homes Realty CEO, Glenn S. Phillips, reveals two unspoken real estate secrets– not all real estate agents are equally skilled, and many use the same formula when listing a home. With a special property like a lake house, how do you determine which agents can successfully sell your home?
Glenn recommends interviewing potential agents and asking three questions: What else will you do to sell my home? Who do you know? and Can you name 15 areas where people are shopping at my lake? The best lake home agents will feature your property on highly-targeted websites, have connections with multiple lake-focused agents, and have expertise in several lake areas.
How do you maximize your opportunity to sell your lake home? When it comes to selling, here’s the real goal: you want to maximize the odds that you will get the maximum price the market will bear in a timeframe that is suitable for you. Here are five ways Lake Homes Realty can help you sell your lake property.
Maximize exposure
Pricing guidance
Lake real estate expertise
Unique network
Buyers from across the country
As mentioned in the video, the Lake Real Estate Market Report contains unique multi-state market information about lake homes and land, including lakefront property, lake access property, lake view property, and near-lake property.
Free to the public, the market report can help lake home and land buyers and sellers better understand their local market, and how it relates to other similar competing markets. Download it HERE.
During the pandemic, many buyers are anticipating finding a “good deal” on a lake house. However, Glenn Phillips, Lake Homes CEO, gives us three reasons why this is not likely. Foreclosures are rare due to majority cash transactions, and the new stimulus laws protect against foreclosures. Further, lake homes are currently in high demand as popular social distancing destinations. Besides the rare possibility of AirBnb and VRBO owners selling their properties due to less travel, you’re unlikely to find a good deal right now. That said, if you’re ready to buy, contact one of our lake agents with local expertise at to help you out.
During the pandemic, many lake homeowners are concerned about their investment. If you aren’t using your lake home anymore, is now the right time to sell? Glenn Phillips, Lake Homes CEO, answers this question. Due to the market’s price peak, high buyer demand, limited appropriately priced inventory, and low mortgage rates, now is actually one of the best times to sell a lake home. To explore your options in selling your property, connect with one of our Lake Homes agents. With both local market expertise and a national presence, we’re here to help.
Lake Homes Realty CEO, Glenn Phillips, discusses five myths about selling a lake home. While there are many similarities between selling a lake home and a primary residential home, there are key differences. For lake homes, these include the higher percentage of out of town buyers, the impracticality of open houses, unusual aspects that break automated valuation systems, and buyers’ value shifts from opulence to practicality. If you’re considering selling a lake home, find a lake agent who understands these unique traits of the market.
With COVID-19 on lake homeowner’s minds, many are wondering if now is a good time to sell their property. Lake Homes CEO Glenn Phillips outlines five reasons why now is a good time to do so.
During these times, sellable and appropriately priced homes are selling fast, and prices are stable. For buyers looking to mortgage their home, they are attracted to the historically low interest rates.
Finally, there’s a high demand for lakefront property, and the market peak has continued to rise. If you’re exploring the idea of selling your lake real estate, keep in mind that the process is often slow and hiring a lake expert agent will facilitate the process with their expert knowledge.
Would you like to learn more about selling your lake property? Here is a FREE downloadable guide:
COVID-19’s impact on many businesses has brought on significant changes to rules and regulations that can be seen on a global scale. The real estate industry is also having to change to meet the needs of its buyers during these times of uncertainty.
In this video, Glenn Phillips, CEO of Lake Homes Realty, discusses the types of buyers you’ll find in the present COVID-19 marketplace. Learn how to navigate the delicate new economics of real estate in this exploration of buyers.
Nestled within the Western Maine Mountains and surrounded by a ring of evergreen trees, Rangeley Lake epitomizes the natural beauty of northern New England.
Rangeley Lake, a sprawling 6,400-acre freshwater lake, is one of the major headwaters of the Androscoggin River watershed. It takes its name from Squire James Rangeley, Jr., an Englishman who established one of the earliest settlements in the area in 1825. Squire Rangeley’s legacy looms large in the history of the region; the nearby town of Rangeley is named after him, as is the main river that flows out of Rangeley Lake.
With a population of just over 1,000 people, Rangeley may come across as a sleepy town. However, when warm weather comes around, vacationers and residents come in from all over the Northeast to wile away the days in their summer homes. In the past, some travelers have come to Rangeley in the winter for access to nearby ski resorts such as Saddleback Maine.
With a strong local community and plenty of reasons to visit, Rangeley Lake is sure to remain one of Maine’s premier lake-living locations for years to come.
The History of Rangeley Lake
Before white settlers established the town of Rangeley, Rangeley Lake was home to five different Native American tribes, most prominently the Abenaki. In 1796, the region was forever changed when four American men—including James Rangeley, Sr., the father of Squire Rangeley—purchased a large tract of land that included Rangeley Lake and the surrounding area. Over the next few decades, settlers gradually trickled into Maine from the lower colonies, forging homesteads out of the forested land near the lake and surviving off of Rangeley’s bountiful fish and wild game.
In 1825, Squire Rangeley loaded a wagon with his family’s belongings and established the town that would later take his surname. Supported by a burgeoning lumber industry, the population of Rangeley continued to grow over the following decades—and as the town gained prominence, it began to develop a reputation as a prime fishing destination. By the 1860s, Rangeley Lake had become a common vacation spot for American fishermen, kickstarting its reputation as a paradise of the North.
Many locals consider the late 1920s and 1930s to be the “Golden Age” of Rangeley. In the years leading up to the second World War, affluent visitors from across the Northeast would flock to the lake to take advantage of its high-quality hotels and natural beauty.
After World War II, Rangeley transformed once again, eschewing its ritzy hotels in favor of a more relaxed style of tourism centered on the town’s established reputation as a vacation spot. The fancy hotels are long gone; instead, loyal seasonal residents come year after year to summer in their lakeside vacation homes. Generations of Rangeley Lake families have passed their homes down through years; for many, Rangeley is just as much of a home as their primary residences down south.
Features of Rangeley Lake
The natural splendor of Rangeley Lake is its greatest strength, but for residents who have had their fill of verdant beauty, the lake offers a number of additional amenities.
The legacy of Rangeley’s Golden Age lives on in the form of the Rangeley Lake Resort. The resort is a cluster of log cabins located on the former golf course of the Rangeley Lake House, once Rangeley’s classiest hotel. The resort features a clubhouse with hot tubs and a heated pool, canoe rentals, a network of snowmobile trails, and ample opportunities for scenic hiking.
Photo courtesy of The Maine Golf Trail.
On the shore of Rangeley Lake, visitors might stumble upon Mingo Springs Golf Course, a high-quality course that has been owned and managed by the same local family for over four decades. Though the local Saddleback Maine ski area has been closed since the 2014–2015 season, plans are underway to reopen the mountain for 2020, and the renowned skiing and golfing at Sugarloaf Mountain is only a 45-minute drive away.
For nature lovers, a number of companies offer cruises and kayaking on the lake, and the Rangeley Lakes Heritage Trust has mapped and documented miles of birding trails throughout the area.
And on rainy days, visitors can drive down to the Rangeley Lakeside Theater for a selection of seasonal live performances and film screenings.
Rangeley Lake Real Estate is one of the premier markets for lake homes in the state of Maine. At any given time, there are around 130 lots and homes for sale on the lake. Rangeley Lake homes can sell for between $89,000 and $1.5 million, with a total market value of over $36 million.
A small town with a cosmopolitan history, Rangeley is a fantastic location for both full-time and seasonal lake living.
Visit our website HERE to learn more about Rangeley Lake.
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