Whiteboard Topics: 3 Dangers of Selling Your Lake Home in 1 Day

While it might sound good for an agent to have a lake home sold in one day, it may not be in your best interest as the seller. You may get a great offer that first day or that first weekend, but here are three reasons to hold off on deciding too soon.

  1. Winning and THEN deciding. Some buyers will win the highest bid before they decide if they even want the house. They know the market is hot, so they will bid high and then decide to go through with the offer or renegotiate using contingencies. People who are more methodical will most likely not jump on the first day.
  2. Fewer offers. You may get several offers the first day or first few days but waiting even two weekends will give time to the methodical buyers to think through an offer.
  3. Out of town buyers. These buyers cannot come in a day. If you give a longer window of time, they will show up with intention and will often have the best deals for the seller.

Whiteboard Topics: 3 Surprising Risks When Selling a Lake Home in 2021

There are different aspects to selling your lakefront property than if you were to sell a landlocked property. These are the surprising risks to be aware of when maximizing the return on your value and investment. 

  1. Sell really fast. Selling your home quickly will not get you the best return on your dollars. A lot of lake home buyers are from out of town or out of state, and you may limit the number of buyers that can’t respond quickly enough. 
  2. Rushing through the transaction. This is a legal transaction involving a lot of money and it’s important to read and understand what you’re signing. Avoid any legal issues in the future by taking your time.
  3. Overpricing. The best way to get the best price is to price appropriately and leave room for competition. Overpricing drastically for the current market will cost you time and money, even in a hot market.

We hope you find these tips valuable as you venture out on your journey to selling your home. Please feel free to reach out to our lake experts for guidance.

Whiteboard Topics: 4 Ways to Help Your Real Estate Agent in 2021

While real estate agents are here to help you with your lake home, there are some things you can do to make the process easier. Here are four tips to help the real estate transaction go smoothly for you and your agent.

  1. Accept the consequences. Be sure you understand that the lake market is a hot market in 2021. It’s different from other markets and knowing the nuances are important to be successful in the process.
  2. Do your homework. Agents will help you and answer your questions, but you have to know what to ask. Educating yourself and working with an expert agent will keep you out of trouble.
  3. Expert agent. Whether you’re buying or selling, working with a lake expert agent will help you navigate the nuances of each lake. The rules and regulations for each market can be different, so having someone who can guide you through those will help meet your expectations.
  4. Be prepared to buy. Do the prep work to make a thoughtful and competitive offer in a timely manner. You snooze, you lose!

Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight into today’s lake real estate market and guide you in your home journey.

Whiteboard Topics: 5 Things to Promote When Selling Your Lake Home

The pandemic has forced many to change their lifestyles and this includes living spaces as well. So, if you’re thinking of selling, here are 5 things to promote when listing your lake home.

  1. Internet. With more people working and spending more time at home, having reliable high-speed internet access is crucial.
  2. Cell Signal. Many lake homes are located in mountainous or rural areas where cell phone signal might not be at its optimal strength. If your lake home has strong cell signal, this is a feature that is worth mentioning.
  3. Home Office. The pandemic has allowed many people to work from home, therefore a home office is a requirement that most lake home buyers are looking for in 2021.
  4. Extra Storage. Unlike traditional lake homes/vacation homes where people often visit for short periods, living at the lake requires extra storage space for everyday household items and perhaps a garage for a car or other vehicles.
  5. Time to Airport. Travel time to and from an airport is an important factor that many lake home buyers might consider when looking for a lake home. Even though travel has temporarily stalled due to the pandemic, it is expected to resume in the near future.

We hope you find these tips valuable as you venture out on your journey to selling your home. Please feel free to reach out to our lake experts for guidance.

Whiteboard Topics: 4 Think-Ahead Questions for Lake Homeowners

Do you own a lake house and are not sure whether or not you should keep it? Here are a few things to consider if you are on the fence about keeping or selling your lake home.

  1. Use or habit? Do you use your lake home on a regular basis? If you find yourself not visiting the lake as often as you’d like, then odds are keeping your lake home is probably not worth the time or money.
  2. Right size? Your kids might’ve moved out or you’ve added a few new family members since you first bought your home. So, the question is: “Is your lake home the right size for your life right NOW?” If the answer is no, then you might want to consider selling it.
  3. Family REALLY use it? Would your family actually use it if it was inherited? Just because you enjoy having a lake home doesn’t mean your family would appreciate it as much as you did.
  4. Duration of peak market? By holding on to your lake home for too long you might run to risk of missing out on the “peak” market. Lake real estate doesn’t always appreciate in value in the short-term interim.

Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight into today’s lake real estate market and guide you in your home journey.

The Pros and Cons of Suburban and Community Lakes

Photo courtesy of Tellico Village.

During the pandemic, the number of people buying a lake house has drastically increased. It’s easy to see why. Surrounded by more trees than people, lake homes are the perfect locations for social distancing. However, when looking to buy a lake house, there are several factors to consider.

Of course, there are the obvious deliberations — how much money to spend and which state you want to live in. But one of the most important factors is which type of lake community you’re seeking. 

Some of us want to channel our inner Henry David Thoreau in a remote location, surrounded by undisturbed wilderness, a la Moosehead Lake.

Others of us (likely extroverts) prefer a community of other lake dwellers. This group is seeking a lively, close-knit group of neighbors full of potluck invitations and shopping trips. If this is you, it’s worth looking into buying a home on a community or suburban lake. These lakes are typically smaller and more removed from the hype (nothing like Lake of the Ozarks’ infamous Party Cove) with plenty of charm. If you’re considering suburban lakes in your buying decisions, check out these pros and cons first.

The List of Pros

Photo courtesy of FXVA.com.

The most practical benefit is the cost. Since community and suburban lake homes are primarily located away from the waterfront, they cost a fraction of what a lakefront property would. According to Homelight.com, waterfront homes consistently cost more than those away from the water. In 2017, the difference was $50 more per square foot, which can certainly add up. 

Aside from the savings, buyers are attracted to the neighborhood vibes of suburban lakes. Unlike remotely located lakes, the focus is on the community more so than nature (although nature is undoubtedly an added benefit — for instance, Great Falls Lake, Tennessee, is known for the amazing waterfalls and white water rapids).

In addition to friendly neighbors who live a 30-second walk away, lake communities often have a unique culture that makes the neighborhood special.

Lake Geneva, Wisconsin (located on Geneva Lake) is renowned as a summer paradise. This lake town is known for shopping, an award-winning magic show, and colorful mansions along its shores. 

Lake Lure, North Carolina, has a similar reputation. Close to Greenville and Spartanburg, this community lake offers a vibrant, lively culture and all the perks of lake living. This dynamic feel is emblematic of suburban lakes more broadly.   

Another benefit is the proximity to amenities such as state parks, shopping centers, and restaurants. These resources and attractions are usually not available in rural lake areas.

Community lakes in the Liberty Park area of Birmingham, Alabama, are close to Vulcan Park, the Summit shopping center, and other attractive features. Similarly, Lake Anne in Virginia is located in Reston’s charming suburban community with an exciting restaurant scene, public parkland, and proximity to Washington D.C.

For those seeking a lakeside retirement community, suburban lakes often come with even more amenities. For instance, residents in communities such as White Bluff Resort, Texas, and Tellico Village, Tennessee, can join clubs, golfing groups, and countless other organizations.

Another feature that is often helpful is for those who want to be near a hospital. For instance, Lake Tansi offers proximity to the high-quality University of Tennessee medical center. 

This List of Cons

Clearly, there are more pros than cons — what can we say? We love lakes! However, depending on how you envision your lake lifestyle, there are some cons to consider.

Although there is a lower cost to living on a community or suburban lake, you are typically sacrificing a waterfront view. As such, there’s a good chance you can’t look at the lake from your back porch or hop on the boat at a moment’s notice. You might also lack a boat dock for this reason, although it’s typically possible to find rental spaces at a nearby marina. 

Additionally, if you’re seeking a more active environment, these lake areas may not be suitable for you. For instance, if you’re someone who wants to roll out of bed, run to the lake, and hop on a jet ski, a smaller lake may not allow for these water sports or easy access to the lake. Ultimately, if living directly on the lake is more important to you than access to surrounding amenities, a suburban or community lake may not be a great match. 

Remember — the search for a lake house is all about figuring out what’s most important to you. For help on this process, reach out to a Lake Homes Realty agent with market expertise on both local and national levels.

Whiteboard Topics: The One Reason Your Lake Home Isn’t Selling

In this video, Lake Homes Realty’s CEO, Glenn S. Phillips, gives us the ONLY reason why your lake home is NOT selling.

If your property is listed on the MLS, chances are it’s being seen in the market and is reaching its maximum exposure.

With the current state of the real estate market, demand for lake homes is high making it a prime time to sell your lake home or property. But some of you might wonder: If the market is hot, then why is my lake house not selling? 

The answer is simple: OVERPRICING. You must price your home appropriately in order to get it sold and we can help you do that! 

Visit lakehomes.com to consult with a real estate agent that specializes in lake-focused property TODAY!

Whiteboard Topics: Four Tips on Buying a Lake Home During COVID-19

When the pandemic began, buyers and potential sellers quickly realized that lake houses are perfect for social distancing. As a result, there became more buyer demand and fewer homes on the market. Although this trend has made things complex for buyers, this doesn’t mean you can’t find your dream home! If you’re looking to invest in a lake house, here are 4 tips on buying from our CEO, Glenn Phillips. 

  1. Be fast and aggressive in making your offer. 
  2. Look at the full inventory of lakes for sale.
  3. Find a lake expert agent to help you. 
  4. Consider multiple lakes in different states. 

Don’t forget that buying a lot and building a home is always an option as well! No matter what you choose, Lake Homes Realty is here to help. With tens of thousands of listings in multiple states, our agents use lake-focused expertise to support you throughout the buying process. 

Lake Homes Realty Makes its Way to the West Coast

Lake Homes Realty has added The Evergreen State to our business footprint! We’ve added our first beachhead on the west coast in Washington in our march to the Pacific Ocean. We’ve been searching for the right broker to join our team, and we’ve found him. Kelly Larson became our newest team member and is working hard to build his team.

We’ll be adding the beautiful lakes of Washington to LakeHomes.com in the coming days and weeks. As we have done with all the states and lakes that we serve, we’ll display all the homes and land listed for sale across the state. Listings that are added by Lake Homes Realty’s agents will always be featured on the website.

From Lake Washington, one of the largest natural lakes in the state, to the metropolitan Lake Union in Seattle, Washington’s lakes are stunning. We’ll be adding profiles for every lake in the state to inform our readers about the style of living available on each. From the size and depth of each lake to the type of fishing and boating available, you will have all the information you need to decide which lake best fits your lifestyle.

Keep a watch here on LakeHomes.com for more information on the lakes of Washington and more new states very soon. Our goal is to be your nationwide lake resource!