Weather continues to control lake home sales. Who can forget the weather of the first five months of 2013? As of June 1st, the sales of lake homes were down 49% due to weather. As of August 15th, however, the sales were about even with 2012 which was a record year for lakehome sales.
The lake home sales this summer are so robust that buyers are battling bidding wars in that we are dealing with multiple offers on lake homes, according to Olson. If you are a buyer, consider these 5 tips:
- Don't be a penny pincher. If you really love a house, don't risk losing it over a couple thousand dollars.
- Sellers don't want to worry about a deal that might fall apart, so they'll usually tend to favor cash offers and those without a financing contingency. Same thing with an inspection contingency.
- Write a letter. A little sweet talk to distinguish your offer never hurts.
- If you know the sellers haven't found their next house, offer to let them rent it back from you after the closing until they find a home.
- Buyers often want the seller to pay closing costs. Pay them yourself. Be glad you got the home of your dreams.
My advice for buyers and sellers entering the market....use a professional full time real estate agent that knows not only the past comparables but one who knows the present ones and the trends.
Alan Olson, Broker/Owner
Century 21 Vista, Inc.