I Think I Want To Sell My Lake Home

After giving a lakefront seller  a thorough market analysis,and going over each of the properties that compete with their property I often hear “Well, I really don’t have to sell”. I then show them how many properties have sold and what they sold for.  Just like on TV they consider their property to be better and can only find fault with the other property.  At this point I want to say  “So why are you putting your property on the market”? 

Making appointments and marketing the property are time-consuming and expensive, so is it a burden the listing agent should deal with when the expectations are not reasonable?  And then the seller is going to say, “If someone really wants my house they so is it a burden the  will understand what we have put into it, so if they really want it, they will buy it. ” Unfortunately with informed buyers, it does not work that way anymore.  In the last five years there has been a huge increase in the amount of information available to buyers. This is where the sellers will have you biting your lip.

?No longer can we tell buyers they have to act quickly on this price because ” there is only so much lake property available ” Not only does a property in this market have to be priced competitively, but it needs to be one of the best priced with its competition to even get a showing. Properties over $1 million dollars are already susceptible to be on the market over a year, after all these are second homes for most, meaning there is no urgency.  The thing a seller wants to do is follow the market all the way down and always being just behind the selling price range rather than just in front of it where they should be.

The results are the same whether we are talking about Canandaigua Lake or Keuka Lake.  Some sellers still see the value their homes had in 2007 and 2008.

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Mary St. George