Tag: real estate tips

Whiteboard Topics: 4 Things to Consider When It Comes to a Guaranteed Sale Program

Posted on Linda Thach

Even though we do not do this as a brokerage, some businesses in the real estate industry may propose a guaranteed offer for your home if they don’t sell it. And while that could be a good opportunity in some cases, here are four reasons why you should be thoughtful when considering an offer like that as you plan to sell your lake home or any other property.

  • Understand. Make sure you fully understand what this offer entails, including the fine print. Some people may assume that if their home does not sell, the company will take their asking price and give them that amount. However, there are usually some caveats to this offer that are not always obvious. Be sure to ask questions and do not be shy — this is your house!
  • Not Full-Price. A “guaranteed” offer is not necessarily a “full-priced” offer. Since there are so many wholesalers who partner with brokerages, these offers are usually discounted. Understand what “guaranteed” means relative to price.
  • Cost of Time. A lot of these deals have timelines where if your home does not sell in a certain number of days, then they will move forward with their process. This means that if that path does not come to fruition or you do not want to take one of the guaranteed offers, you may have to start over with your marketing, thus making your home appear stale since it’s been on the market for a while. Be aware that if everything does not work out, you need to know how much time that will cost you.
  • If It Looks Too Good… This does not mean that anyone is being deceitful, but oftentimes if it looks too good to be true, it just might be. Make sure you know what the offer really is and how it applies to you and your situation. 

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: 3 Reasons Why People Are Selling Their Lake Home

Posted on Linda Thach

The current real estate surge has led to an inventory shortage in most markets, but LakeHomes.com has tens of thousands of lake property currently listed. So, what motivates someone to sell during this frenzy? While there are some outliers, here are three reasons why people in this economy are interested in selling a lake home:

  • Age. Even before the pandemic, age-related transitions were on the minds of sellers. Whether it’s because the kids have moved out and they are now looking to downsize or they are looking to go live with family elsewhere, sellers making age-related decisions are creating some turnover in the lake real estate market. 
  • Financial Need. As the economy shifts, financial need will become more of a motivation for sellers than it already is. Right now the real estate market is at its peak, so if a seller has a financial need, now is a great time to make that property very liquid and get cash for the home. 
  • Financial Opportunity. This is the best time for someone with a lake home to seize the opportunity to get maximum return on their lake property. Though sellers should avoid overpricing their lake home, these are the homes that can be sold quickly because of the strong demand right now. 

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: 3 Tips for Selling and Buying a Home During a Peak Market

Posted on Linda Thach

In today’s active real estate market, you may want to sell your house but are unsure if you will be able to buy another one with the current inventory shortage. If you’re nervous about being able to buy a house upon selling your own, check out these 3 tips on navigating that situation from Lake Homes Realty’s CEO, Glenn Phillips.

  • Buy First. If you’re not able to support a second mortgage, you may want to find the home you’re wanting to buy, make that deal contingent on the sale of your current home, and provide other incentives to make that deal appealing to the seller.

  • Sell with a Lease Back. This allows you to sell your home and lease it back for a certain period of time with the buyer.
  • Move Twice. Sell your home while the market is at peak pricing, move your belongings into storage, then find somewhere small to rent while you look for your next home.

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

Did you enjoy this article? If so, you might be interested in Why Buyers are Investing in Lake Houses During the Pandemic.

Whiteboard Topics: How to Decide Whether a Family or Friend Should Be Your Real Estate Agent

Posted on Linda Thach

Have you ever encountered that awkward moment when a friend or family member thinks they should be your real estate agent, but they might not be the right fit? Real estate is probably one of the biggest investments you’ll make, so it’s important to choose the right agent for the job. Here are some tips for navigating that dilemma without wanting to disappoint or displease family and friends.

1. It’s a business decision. This is not necessarily a personal decision. There’s a lot at stake when choosing the right real estate. The right professional for the job will value that importance.

2. Interview for best choice. It’s not about you who like most, it’s about who can help you achieve your goals in the time frame you want. Interviewing for best choice will allow you to be confident in the plans and tools that the right real estate agent can offer.

3. Generalist vs. specialist. If you’re buying or selling a specialty property, like a lake home, a general real estate agent isn’t going to know all the nuances about that market. Someone who knows your market is going to likely be more effective than someone who doesn’t.

4. Look for unique offerings. Does the real estate agent have a unique skill or quality that no one else has? Compare the agents that can help you locate the property you want faster or maximize the number of buyers for the property you’re selling. Whether you’re buying or selling your lake home or property, our agents at Lake Homes Realty can help provide insight in today’s lake real estate market and guide you in your home journey.

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

Whiteboard Topics: 5 Things to Know About Your Highest & Best Offers

Posted on Linda Thach

In real estate, especially in competitive markets, agents typically ask for the “highest and best offers.” It’s important to understand what this means, and whether you’re buying or selling your lake home, here are five things you will need to know about “Highest and Best” offers.

  1. This is not an auction. The biggest number doesn’t always win the deal. Ultimately, the sellers decide on what is best for them.
  2. Mortgage vs. cash. Cash transactions typically don’t go through an appraisal process (there are exceptions). There’s usually a pre-approval process with transactions involving mortgages, which could lead to an inconvenient holding pattern, thus making it a riskier transaction than cash.
  3. Timeframe matters. You can de-risk the deal to a seller if there is a shorter timeframe from contract to close.
  4. Earnest money. A large amount of earnest money offered ensures the buyer’s level of commitment, which further de-risks the deal.
  5. Connection. An emotional connection can help make an offer highest and best.

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

Whiteboard Topics: 3 Reasons Not to Wait to Sell Your Lake Home

Posted on Linda Thach

When you’re starting to think about selling your lake home, it can be hard to know when the best time to do so. In this video, Lake Homes Realty’s CEO, Glenn S. Phillips, shares THREE reasons why this fall may be the BEST time to SELL your lake home.

  1. Spring is old school. People looking for lake property are not influenced by the typical school year.
  2. Limited sellable inventory thus creating high demand. Many are opting not to sell their homes during the pandemic.
  3. Economic turmoil looming.  Uncertainty surrounding stimulus money and COVID-19.

If you’ve determined that right now is the time to sell your lake home, we’re here to help. Our national network of agents facilitates knowledge of the competition, quicker home sales, and relationships with buyers. Be sure to connect with one of our agents at Lakehomes.com today!

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

Posted on Camille Smith

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. 

Whiteboard Topics: 3 Reasons to Sell Your Lake Home in 2020

Posted on Camille Smith

Thinking of selling your lake home, but worried about the economy? While your hesitations are valid given the uncertain impacts of COVID-19, they’re likely unfounded. Lake Homes CEO, Glenn Phillips, gives three reasons why now is actually a great time to sell your lake home. 

  1. Lake real estate sells all months of the year, not just spring. 
  2. The availability of appropriately priced inventory has shrunk nationwide
  3. Take advantage of the window before stimulus money subsides 

Ultimately, the best time to sell your lake home is when it’s right for you. And if you’ve determined it’s time, don’t hesitate to put it on the market now. Consult with a lake focused real estate agent with nation-wide market awareness at Lakehomes.com! 

Whiteboard Topics: 5 Things Home Buyers Don’t Care About

Posted on Camille Smith

When it’s time to sell your lake home, you’re likely keeping a mental list of what home buyers find important. However, your attempt to read buyers’ minds could be incorrect. To avoid this pitfall, Lake Homes CEO, Glenn Phillips, shares 5 things that home buyers don’t care about.

  1. What you paid for the lake house 
  2. The price of nearby homes in the market 
  3. Personal effort that you put into the home
  4. Using outliers in the market as a proxy for your home
  5. Your feelings about the home (don’t take an offer personally!)

As you price your home, keep these points in mind. Overall, now is a great time to sell property, so take advantage of the current window!