Tag: real estate advice

Whiteboard Topics: 3 Ways To Help Your Real Estate Agent

Posted on Kamari House

When searching for your dream home, you must guide your agent in the right direction. Lake Homes Realty’s CEO, Glenn Phillips, shares three tips to help your real estate agent help you find your lake home.

  1. Know and Share Your Goal: Understanding your must-haves and dealbreakers before going into the home buying process is essential in effectively searching for your dream home.
  2. Be Real: Be honest with your agent about your price range from the beginning. This will ensure that time isn’t wasted on homes without potential.
  3. Say ‘No’: Now is not the time to relent on what you want. If you know a property is not for you, it’s ok to say ‘no’ and move on to homes with more promise.

How can you expect your agent to find the perfect home for you if you’re not thorough on what you want? Before you begin your journey, be sure to finalize what you want, be honest throughout the process, and don’t be afraid to say no!

Whiteboard Topics: Has The Lake Real Estate Market Peaked?

Posted on Kamari House

It can be difficult to determine if the market has reached its peak when you’re not familiar with real estate patterns. Lake Homes Realty’s CEO, Glenn Phillips, breaks down three factors that are affecting the market as we know it.

  1. Modern Increase in Inventory: There are several components that go into this, some of which include: the economy, buyer fatigue, and life post-pandemic. Searching for a home, in a market this intense, can become overwhelming, and the effects are starting to show themselves.
  2. Days-on-Market Up: Homes aren’t flying off the market as they once were. This is a clear indication that the frenzy is starting to slow down.
  3. Fewer Offers: The competition isn’t as fierce as it once was. Homes are no longer being flooded with offers as soon as they reach the market.

Although noticeable changes are being made, this isn’t to say we are in a bubble or about to crash. Now is still a great time to sell your lake home for a return on your investment. On the other hand, if you plan to buy, waiting a little longer may lead you to more opportunities.

Whiteboard Topics: 7 Tips For Finding Your Dream Lake Home In 2022

Posted on Kamari House

The lake real estate market can be difficult to navigate when you don’t plan ahead. Lake Homes Realty’s CEO, Glenn Phillips, shares 7 tips to aid in the search for your dream lake home.

  1. Be Realistic: A home may not fit every criterion, but that doesn’t mean it’s not a solid choice. Don’t let your new lake home pass you by because of unrealistic expectations.
  2. List Your “Got to Haves”: Shifting your mindset to realistic expectations is essential, but it’s important to make a list of must-haves you refuse to compromise on. Think about what you truly cannot live without.
  3. List Your “Nice to Haves”: Creating a list of wants versus needs allows you to discover what you can compromise on. These bonus items can help you choose between similar homes.
  4. List of “Don’t Care”: Sorting out home characteristics you are indifferent to will help broaden your scope of available homes that fit your other criteria.
  5. List Your “Do Not Wants”: This list will help you determine which homes are automatic no so that you don’t waste time. This market is hot, and you don’t want to spend time on a home you would never buy.
  6. Focus: Pay close attention to the detailed lists you’ve created when searching for your dream lake home. This will ensure you narrow your focus to homes that have potential.
  7. Put Your Agent to Work: Now that you’ve developed these detailed lists, it’s time to put your lake real estate expert to work. You’ve built the perfect roadmap for them to follow while they search for your dream home.

Great things in life come from great planning. It can feel tedious breaking down all of your wants into detailed categories, but being thorough will ensure you find the home of your dreams!

Whiteboard Topics: Selling? 4 Advantages Of Hiring A Lake Homes Realty Agent

Posted on Kamari House

When selling your home, you want the best of the best on your side. Lake Homes Realty’s CEO, Glenn Phillips, explains why listing with a Lake Homes Agent is the number one option.

  1. More Buyers: Most agents are well-versed in their local market, but our agents have access to buyers around the country. Having a larger pool of buyers makes selling your home all the easier.
  2. Pricing Intel: Your competition doesn’t end with the home next door. Buyers are vetting lake locations across the nation, and our lake homes agents have the pricing intel to ensure your home has the advantage.
  3. Become a Featured Property: Listing with a Lake Homes Realty Agent is the only way for your property to be featured on the Lakehomes.com website. Your home will be given priority exposure to our target audience.
  4. National Network: Our real estate agents are an interconnected group that is committed to helping you buy/sell a home. If one agent cannot find a property for a buyer, they will refer them to another lake homes agent; one of which could be yours.

These are only a few advantages available to you when listing with a Lake Homes Realty Agent. When deciding to sell your lake home, it only makes sense to go with a lake expert!

Whiteboard Topics: 3 Ways Russia is Impacting Real Estate

Posted on Kamari House

The war between Russia and Ukraine may be a good distance away, but it affects the American real estate market more than you think. Lake Homes Realty’s CEO, Glenn Phillips, shares how could affect your real estate transaction.

  1. Crisis Fatigue: From the pandemic to inflation to the war, all of these back-to-back crises can start to weigh on everyone. This can encourage buyers to buy more lake homes as a way to relax and ‘get away’ for a while. 
  2. Life is Short: With everything going on, people are realizing now more than ever that life is short. Why push off buying your dream lake home when the future is not always promised?
  3. Inflation: An overall rise in prices has been taking the country by storm, and the Russian/Ukraine war will only further expedite this. This could deter buyers from buying, and encourage sellers to sell in order to avoid unnecessary costs.

It can be jarring to know that something happening across the world can directly affect the lake real estate market right here in America. Staying informed will help you navigate the market as it adapts to fit in today’s world!

Whiteboard Topics: 4 Risks of Buying a Lake Home to Rent on AirBnB

Posted on Kamari House

Multiple streams of income are essential, and renting out real estate properties is a classic investment venture. Lake Homes Realty’s CEO, Glenn Phillips, shares 4 risks to consider before buying a lake home to rent.

1. HOA Rules: Relying on the homeowner or real estate agent to communicate the HOA rule can lead to a misunderstanding. To ensure you have the most up-to-date information, contact the HOA directly.

2. City and County Laws: Similar to HOA rules, the city/county themselves may have restrictions you need to be privy to before you invest in a lake home. There may be laws against renting properties that will affect your plans.

3. Zoning Regulations: These potential restrictions can vary depending on which zone of the lake you are in. Again, it’s important that you conduct thorough research on what is allowed regarding short-term rentals.

4. Housekeeping: Reliable housekeeping is very important when conducting short-term rentals. You must take into account the time, money, and consistency necessary to keeping up your property.

Making a profit on short-term rentals is definitely possible, but you have to educate yourself on the risk factors before you invest. Once you are knowledgeable about the pros and cons of renting out lake properties, you’ll secure yourself another stream of income in no time!

Whiteboard Topics: 4 Reasons Buyers Need A Lake Expert Agent

Posted on Kamari House

You need to be sure that the home you choose is on a lake that allows you to have the lake lifestyle of your dreams. Lake Homes Realty’s CEO, Glenn Phillips, explains why choosing a lake expert is so beneficial for a buyer.

  1. Unlike Other Property: Lake real estate is a specialized market. Agents that only focus on primary residence homes lack critical lake knowledge that only a lake expert would have.
  2. Regulations: To live your preferred lake lifestyle, you need an agent who can tell you the rules and regulations of the water. Owning a property doesn’t automatically give you the right to make changes or engage in certain lake activities. The rules also vary from lake to lake.
  3. Lake Behavior: A lake’s water level can depend on the season or even the time of day. A lake expert can detail the behaviors of your preferred lake so that you aren’t surprised after you buy.
  4. Zoning and Restrictions: While many lakes have regulations for residents to follow, there may be so parts of a lake that don’t have to follow the same rules. You’ll need an expert from that lake who can show you homes that follow or bypass these restrictions.

Don’t settle for a real estate agent who is unfamiliar with your lake of choice. Working with a lake expert will make all the difference to your buying experience!

Whiteboard Topics: 4 Reasons Sellers Need A Lake-Expert Agent

Posted on Kamari House

To understand lake real estate, you have to realize that it’s in a class of its own with rules specific to the market. Lake Homes Realty’s CEO, Glenn Phillips, shares why you need a lake expert to help you navigate the world of lake real estate.

  1. Specialty Property: Your home is unique and requires an agent knowledgeable in the lake market to help you sell it.
  2. Remote Buyers: Out-of-state buyers make up a large portion of potential prospects. With this in mind, it’s essential that your agent is comfortable engaging with and bringing in those remote buyers.
  3. Thinks Long-Term: A lake home is a discretionary product, which can make purchasing one a lengthy process. To combat this, a good lake-expert agent will already have a pipeline of interested buyers with whom they have developed long-term relationships.
  4. Local is Not Enough: Most of the time your buyer pool won’t include your neighbors on the lake. You need an agent who has experience marketing lake homes nationally.

Lake real estate varies from the typical commercial market in a lot of ways. To stay on top of the lake market, be sure to find a lake expert agent to help you sell your home!

Whiteboard Topics: 5 Keys To The 2022 Lake Home Market

Posted on Kamari House

These past few years have had a massive impact on the lake real estate market, but real estate trends are never stagnant. Lake Homes Realty’s CEO, Glenn Phillips, breaks down 5 keys to this year’s market.

  1. Price Growth Peaking: The spike in price growth is beginning to reach a peak as the rush to leave the city due to Covid is slowing down. This year would be great to sell your home.
  2. Mortgage Rates MIGHT Matter: This could have an impact on the peak slowing because inflation causes buyers to be more conservative with their money.
  3. Historically Low Inventory: Inventory is so long nowadays that agents have buyers just waiting for appropriately priced properties to become available.
  4. “Less” Competition: Buyers aren’t in as big a frenzy to purchase lake homes as they were at the start of Covid. While competition has slowed, it has not completely disappeared.
  5. Long Distance Buyers: Sellers need to think about long distance buyers because most of the time, interested parties are not local to the area.

With a fluctuating market like lake real estate, you have to stay on your toes. Keeping up with this year’s trend as a buyer or seller is imperative for you to make a good investment!