As I ride around with clients looking at various lake homes, I always get questions from them relating to typical market times and other sales statistics. I can generally answer these within reason without doing a lot of research, but I thought it would be interesting to delve a little further into the exact statistics for an entire year.
The difficulty in finding good information on this lies in the fact that there are nearly 20 different multiple listing organizations throughout Minnesota, and another 25 or so in Wisconsin. Each of these organizations has their own unique method of displaying information, and there is no realistic way to combine statitics from one organization with those from all the other areas - unless I had several days of nothing to do other than manually combine them into one big spreadsheet. Obviously, the sales statistics in Kenosha, Wisconsin may not be a good indication of what is happening in Bemidji, Minnesota, so it would be kind of fruitless to attempt this undertaking anyway.
At the current time, the Twin Cities Multiple Listing Service (also known as Northstar) is the most comprehensive one there is. It is really a combination of several individual MLS organizations around the metro area, but it also extends much further into other areas of Minnesota and Western Wisconsin. Many real estate companies in outstate areas have joined Northstar - in addition to their local MLS services - to do a better job of marketing their listings to a larger audience. So by using statistics from Northstar, we are getting a pretty good overview of waterfront sales throughout a fairly large region.
OK...we got the boring stuff out of the way. But I thought it was important for you to understand just how confusing it is out there in the real estate world, and why even with the ease of the Internet it is still cumbersome for consumers to search for real estate throughout wide geographic areas.
Now let's get back to the typical waterfront buyer and see what might be important to them. A typical day of lake house hunting might involve showings on ten different properties in the course of about 200 miles, versus maybe ten houses in twenty miles for an in-town buyer. This is because lake property buyers are normally more concerned about finding the right type of lake - along with the house that fits their needs - within a certain distance of their work (by the way, buyers in search of lake cabins may very well be looking over an even larger area that is a certain distance from their home).
If a buyer is looking for a 3+ bedroom lake home, built 1990 or later, on a 500+ acre lake, under $600,000, and within one hour of Minneapolis...we will be driving most of the day to find enough of them to look at (as of today there are only 15 of them on the market that fit this criteria). In other words, it's going to be a long day in the car with lots of thoughts running through everyone's heads.
The first couple hours are always easy. There is a lot of conversation about each other's work, family, and so on. The buyers are excited to get inside the first lake homes and get a feel for what types of things they can expect to find in their price range. Unfortunately, most of the time their expectations are a little higher than reality. So as the day wears on we begin to talk about average market times, the percentage of list price to sales price, the best time of year to buy, remodeling costs, the distance from Venus to Pluto...and so on. That brings me to what I was going to write about in the first place: the market statistics for 2007, month by month.
By going through the single family waterfront sales on Northstar MLS in each month of 2007, we can get a fairly good correlation of the amount of waterfront sales - along with market times and other statistics - in relation to the time of year they occur. Here is that breakdown:
The information below is based on average list price at time of sale, and average sale price. The average days on market are total days on market, even if listed with two different companies during that time period
January
Sold Properties - 249
Total Avg Market Time - 165
List Price - $397,046
Sale Price - $380,326
Percent of List Price 95.8%
February
Sold Properties - 262
Total Avg Market Time - 159
List Price - $421,412
Sale Price - $403,875
Percent of List Price 95.8%
March
Sold Properties - 307
Total Avg Market Time - 171
List Price - $403,559
Sale Price - $388,547
Percent of List Price 96.3%
April
Sold Properties - 441
Total Avg Market Time - 171
List Price - $443,372
Sale Price - $420,885
Percent of List Price 94.9%
May
Sold Properties - 473
Total Avg Market Time - 152
List Price - $429,403
Sale Price - $410,695
Percent of List Price 95.6%
June
Sold Properties - 524
Total Avg Market Time - 145
List Price - $435,710
Sale Price - $417,835
Percent of List Price 95.9%
July
Sold Properties - 512
Total Avg Market Time - 169
List Price - $431,954
Sale Price - $411,677
Percent of List Price 95.3%
August
Sold Properties - 413
Total Avg Market Time - 150
List Price - $401,039
Sale Price - $380,417
Percent of List Price 94.8%
September
Sold Properties - 325
Total Avg Market Time - 183
List Price - $413,349
Sale Price - $391,185
Percent of List Price 94.6%
October
Sold Properties - 339
Total Avg Market Time - 186
List Price - $433,318
Sale Price - $408,916
Percent of List Price 94.4%
November
Sold Properties - 214
Total Avg Market Time - 166
List Price - $396,617
Sale Price - $373,373
Percent of List Price 94.1%
December
Sold Properties - 187
Total Avg Market Time - 179
List Price - $446,749
Sale Price - $416,514
Percent of List Price 93.2%
So, what does all this mean? I don't know, but at least it's not a secret anymore. And just like we all knew before I spent the last several hours compiling this, there are more waterfront sales in the summer than there are in the winter!
Oh, and I guess if we go out looking at lake properties, we'll have to find some other things to talk about now.
Thursday, March 27, 2008
Saturday, March 22, 2008
Minnesota Isn't Too Bad After All
My family and I have been down on Mustang Island on the East Texas Coast for a few days, visiting relatives and getting a needed break from the monotony of winter. The weather has been great - mainly in the upper 70s - and there's been plenty of sunshine to give us some attractive sunburns. But along with the great weather they can offer, these southern climates also have their share of negative aspects that we don't have to think much about up north.
It certainly is refreshing this time of year to get up and have your morning coffee on the deck in a pair of shorts. In Minnesota you still have to wear several layers of clothes to do that, and most likely your deck furniture is still buried under the snow. But those of us who are native to the north country aren't used to checking to see if there is a scorpion under our chair before we sit down, which is not a bad thing to think about down here.
Although it is common to find a few pickers on a walk in the woods almost anywhere in the Upper Midwest, Texas lawns can be filled with some of the most heinous plants you can imagine. They will try to poison you with every step, or jab through your clothes if you try to sit down (barefoot walkers and thin shorts wearers beware). And when you are taking a short cut to the beach, be sure to watch out for the rattlesnakes sunning themselves on those inviting sand dunes!
But just when you think the plants and land critters are a little scary, just spend a few hours on the ocean reeling in some of those interesting creatures that resemble several of the species in Star Wars! It seems that almost everything that lurks down there has a goal of causing you immense pain and suffering if you dare to pull it out of the water.
I know we get a little tired of the mosquitoes up north, but other than them and a few ticks we really have it pretty easy. We have lush lawns to play in, clear waters to swim in, and some very pleasant weather during the summer months. If you want to sleep out under the stars on a warm July evening, you may end up with a few itchy bites in the morning, but you will most likely still be alive to scratch them.
But don't get me wrong, I love the warm weather and expansive beaches that offer a respite from the seemingly never-ending winter. The sunshine and fresh air down south can create a renewed energy that helps us remember why we put up with the long winters up north, and it gives us a glimpse of what we can look forward to in just a couple of months - or maybe three.
So hang in there. I've seen the sunshine and it's heading your way...and I don't believe it's bringing all the other weird things with it.
Oh yeah, I forgot. There is one more wild and crazy animal that I've come across this week on the beaches down here in Port Aransas: The Spring Breaker. Maybe that's why we have winter in the first place...to keep them away!
Happy Easter
It certainly is refreshing this time of year to get up and have your morning coffee on the deck in a pair of shorts. In Minnesota you still have to wear several layers of clothes to do that, and most likely your deck furniture is still buried under the snow. But those of us who are native to the north country aren't used to checking to see if there is a scorpion under our chair before we sit down, which is not a bad thing to think about down here.
Although it is common to find a few pickers on a walk in the woods almost anywhere in the Upper Midwest, Texas lawns can be filled with some of the most heinous plants you can imagine. They will try to poison you with every step, or jab through your clothes if you try to sit down (barefoot walkers and thin shorts wearers beware). And when you are taking a short cut to the beach, be sure to watch out for the rattlesnakes sunning themselves on those inviting sand dunes!
But just when you think the plants and land critters are a little scary, just spend a few hours on the ocean reeling in some of those interesting creatures that resemble several of the species in Star Wars! It seems that almost everything that lurks down there has a goal of causing you immense pain and suffering if you dare to pull it out of the water.
I know we get a little tired of the mosquitoes up north, but other than them and a few ticks we really have it pretty easy. We have lush lawns to play in, clear waters to swim in, and some very pleasant weather during the summer months. If you want to sleep out under the stars on a warm July evening, you may end up with a few itchy bites in the morning, but you will most likely still be alive to scratch them.
But don't get me wrong, I love the warm weather and expansive beaches that offer a respite from the seemingly never-ending winter. The sunshine and fresh air down south can create a renewed energy that helps us remember why we put up with the long winters up north, and it gives us a glimpse of what we can look forward to in just a couple of months - or maybe three.
So hang in there. I've seen the sunshine and it's heading your way...and I don't believe it's bringing all the other weird things with it.
Oh yeah, I forgot. There is one more wild and crazy animal that I've come across this week on the beaches down here in Port Aransas: The Spring Breaker. Maybe that's why we have winter in the first place...to keep them away!
Happy Easter
Monday, March 17, 2008
Opportunities Are Easy to Recognize...Once They're Gone!
I woke up this morning to another onslaught of bad economic news, along with the collapse of the giant Wall Street firm Bear Stearns. Each day we are bombarded with more and more stories of business tragedies, higher gas prices, and recession worries...along with sagas of people losing their homes to foreclosure, and plenty more that are deciding to just walk away from their mortgages rather than making payments on a place that is not worth what they now owe.
There is certainly no shortage of blame to go around, but a lot of the problem has to do with people not recognizing the reality that is staring them in the face. I thought it was pretty obvious a few years ago that appreciation of 10%-20% per year - on homes in many areas of Minnesota - could not continue very long, if wages were mostly stagnant. It seems that when times are good, a large portion of the herd forgets that they might not be good forever!
But I'm not an economist. I'm only a simple real estate broker who makes bad decisions on things...sometimes, just like a lot of other people do. However, one thing I do know a lot about is waterfront real estate, and the trends that point to strong sales for many years to come in those types of properties.
I would guess that about 98% of the population (if not more), wishes they would have purchased lakeshore property ten or twenty years ago. From being in this business, I have heard many of the stories of how some one's dad or grandpa could have purchased an entire mile of lakeshore on a now popular lake for perhaps $10,000...and they only had to pay $24 per month with 2% interest until it was paid off. Or they might remember the family cabin that six siblings could have bought for $40,000 in the mid 80s, but no one could scrape the money together. Almost everyone has at least one of these tales of woe.
After specializing in waterfront properties for over 20 years, I can tell you that I have never seen so many opportunities to purchase some pretty amazing real estate for less that what the real value is. When you consider the fact that many of the lakeshore lots have not really dropped very far in price (if at all), and the cost of building has not gotten any less expensive, you start looking at the ability to buy the structures on these lake lots for almost nothing. Even if it needs a little remodeling, you can end up with quite a place for way less than what it would cost to replace.
What makes this opportunity even greater is that most people love to follow the pack for reasons of safety. They love to recite "the sky is falling" comments that were stated by 237 different analysts on the thirteen different morning news programs they watched before work. And, they just don't want to take a chance at making a mistake on this important of a purchase!
I would never advise anyone to be reckless in the pursuit of any type of real estate. It only makes sense to do your homework, and use all the tools in your arsenal (including the market knowledge and sales data your Realtor can supply) that you have at your disposal, before you make any decision to buy a particular property.
But I would also caution you not to be overly hesitant on buying while the bad news is a brewing. Otherwise, when the herd starts moving again you might be at the back of the pack. And who knows what will be left over?
There is certainly no shortage of blame to go around, but a lot of the problem has to do with people not recognizing the reality that is staring them in the face. I thought it was pretty obvious a few years ago that appreciation of 10%-20% per year - on homes in many areas of Minnesota - could not continue very long, if wages were mostly stagnant. It seems that when times are good, a large portion of the herd forgets that they might not be good forever!
But I'm not an economist. I'm only a simple real estate broker who makes bad decisions on things...sometimes, just like a lot of other people do. However, one thing I do know a lot about is waterfront real estate, and the trends that point to strong sales for many years to come in those types of properties.
I would guess that about 98% of the population (if not more), wishes they would have purchased lakeshore property ten or twenty years ago. From being in this business, I have heard many of the stories of how some one's dad or grandpa could have purchased an entire mile of lakeshore on a now popular lake for perhaps $10,000...and they only had to pay $24 per month with 2% interest until it was paid off. Or they might remember the family cabin that six siblings could have bought for $40,000 in the mid 80s, but no one could scrape the money together. Almost everyone has at least one of these tales of woe.
After specializing in waterfront properties for over 20 years, I can tell you that I have never seen so many opportunities to purchase some pretty amazing real estate for less that what the real value is. When you consider the fact that many of the lakeshore lots have not really dropped very far in price (if at all), and the cost of building has not gotten any less expensive, you start looking at the ability to buy the structures on these lake lots for almost nothing. Even if it needs a little remodeling, you can end up with quite a place for way less than what it would cost to replace.
What makes this opportunity even greater is that most people love to follow the pack for reasons of safety. They love to recite "the sky is falling" comments that were stated by 237 different analysts on the thirteen different morning news programs they watched before work. And, they just don't want to take a chance at making a mistake on this important of a purchase!
I would never advise anyone to be reckless in the pursuit of any type of real estate. It only makes sense to do your homework, and use all the tools in your arsenal (including the market knowledge and sales data your Realtor can supply) that you have at your disposal, before you make any decision to buy a particular property.
But I would also caution you not to be overly hesitant on buying while the bad news is a brewing. Otherwise, when the herd starts moving again you might be at the back of the pack. And who knows what will be left over?
Thursday, March 13, 2008
One Man's Trash...is Sitting on Your Property Line!
Well, it's that lovely time of year again in the Upper Midwest, where all the items left in the yard last fall - and all the ones the dog left over the winter - come peeping out of the grayish snow. It doesn't usually take a whole lot to get everything cleaned up and looking sharp again, but there are some properties where that just isn't going to happen.
When you drive through a residential neighborhood in town, the fronts of the houses typically face the street. For the most part, you won't see a whole lot of extra items sitting around because they are out there somewhere in the back yard. But on lake properties, the back of the house is facing the street (some people will argue this point, but I stand behind my opinion here), and so all these attractive treasures add to the curb appeal!
There is not a better month for junk viewing than March. We all know it as kite-flying season, but up north it should also get the distinction as "Ugly Yard Month." Leafless trees and bushes are just no competition for these lonely yardicles (new word that I created) that have been hibernating during the cold winter days. They are very much attracted to sunshine, which my daughter found out the other day after she stepped in one of my dog's yardicles that immediately stuck to her shoe. But here I go again off on some tangent, talking about things that have nothing to do with lake properties.
What I was really trying to get at was how to deal with lake homes and cabins where the next door neighbor is a little slow at going to the dump. You know the kind of place I'm talking about: old docks, boat lifts, snowmobiles, bird houses...and a supply of old pipe in a vast array of sizes, extensive enough to start a plumbing supply store.
If you are the next door neighbor and you are thinking of selling your place in the near future, you may have a bit of a challenge on your hands. Here is an article by Brad Boisvert that talks about some ways you might go about dealing with the situation. But one thing you always need to keep in mind is how to approach this person without turning them against you and making your sales process even more difficult. However, it is wise to work at it rather than ignoring the issue, because it could very well affect your value or the ability to get your lake place sold.
As a prospective real estate buyer, you are probably starting to get the urge to go out and drive around some of the lakes as the days get warmer and the daylight gets a bit longer. You have been sitting home looking on the Internet at all these great photos of towering pines, sand beaches, sparkling blue waters and nostalgic cabins...and now it is time to hop in the car and get a sense of the real thing. But surprise...surprise, there were no photos on the website that showed pile of junk next to the neighbor's garage. And even this cute little cabin - you drove two hours to take a peek at - has several well-worn items sitting around that didn't show up online. By the way, don't worry too much about the items on the property you are interested in, because removal of debris will be covered in the purchase agreement.
Well, let's go back to the beginning of this article and consider the overall issue. First of all you are looking at the back yards of these properties, and most people (unless you are on a small lot in the city) do have a few things sitting around their yards. In addition to that, lake homes and cabins require extra amenities like docks, boat lifts, yard tractors, and extra lumber for repairs on decks and sheds that are more prevalent here.
Secondly, it is "Ugly Yard Month," and it will get better once the buds come out. Try to look at the density of trees in the vicinity of the items to see if they will even be noticeable once the outdoor season begins. And also remember that you may want to leave a few things out behind your garage, so they will fit neatly next to your new neighbor's pile.
But if the lake property you are most interested in has an overabundance of these intertwined gizmos - that you know are going to be just a little too agonizing for that neighbor to get rid of - you may want to either make your offer subject to the seller taking care of it before closing, or just pass on this one for now. Chances are that if the seller has any kind of a relationship with this person, he may be able to help them haul this stuff away. If so, it probably won't collect again for some time, since it has most likely taken many years to grow this big.
But make sure you are comfortable with the situation, as I have seen a lot of interesting things in this business over the years!
When you drive through a residential neighborhood in town, the fronts of the houses typically face the street. For the most part, you won't see a whole lot of extra items sitting around because they are out there somewhere in the back yard. But on lake properties, the back of the house is facing the street (some people will argue this point, but I stand behind my opinion here), and so all these attractive treasures add to the curb appeal!
There is not a better month for junk viewing than March. We all know it as kite-flying season, but up north it should also get the distinction as "Ugly Yard Month." Leafless trees and bushes are just no competition for these lonely yardicles (new word that I created) that have been hibernating during the cold winter days. They are very much attracted to sunshine, which my daughter found out the other day after she stepped in one of my dog's yardicles that immediately stuck to her shoe. But here I go again off on some tangent, talking about things that have nothing to do with lake properties.
What I was really trying to get at was how to deal with lake homes and cabins where the next door neighbor is a little slow at going to the dump. You know the kind of place I'm talking about: old docks, boat lifts, snowmobiles, bird houses...and a supply of old pipe in a vast array of sizes, extensive enough to start a plumbing supply store.
If you are the next door neighbor and you are thinking of selling your place in the near future, you may have a bit of a challenge on your hands. Here is an article by Brad Boisvert that talks about some ways you might go about dealing with the situation. But one thing you always need to keep in mind is how to approach this person without turning them against you and making your sales process even more difficult. However, it is wise to work at it rather than ignoring the issue, because it could very well affect your value or the ability to get your lake place sold.
As a prospective real estate buyer, you are probably starting to get the urge to go out and drive around some of the lakes as the days get warmer and the daylight gets a bit longer. You have been sitting home looking on the Internet at all these great photos of towering pines, sand beaches, sparkling blue waters and nostalgic cabins...and now it is time to hop in the car and get a sense of the real thing. But surprise...surprise, there were no photos on the website that showed pile of junk next to the neighbor's garage. And even this cute little cabin - you drove two hours to take a peek at - has several well-worn items sitting around that didn't show up online. By the way, don't worry too much about the items on the property you are interested in, because removal of debris will be covered in the purchase agreement.
Well, let's go back to the beginning of this article and consider the overall issue. First of all you are looking at the back yards of these properties, and most people (unless you are on a small lot in the city) do have a few things sitting around their yards. In addition to that, lake homes and cabins require extra amenities like docks, boat lifts, yard tractors, and extra lumber for repairs on decks and sheds that are more prevalent here.
Secondly, it is "Ugly Yard Month," and it will get better once the buds come out. Try to look at the density of trees in the vicinity of the items to see if they will even be noticeable once the outdoor season begins. And also remember that you may want to leave a few things out behind your garage, so they will fit neatly next to your new neighbor's pile.
But if the lake property you are most interested in has an overabundance of these intertwined gizmos - that you know are going to be just a little too agonizing for that neighbor to get rid of - you may want to either make your offer subject to the seller taking care of it before closing, or just pass on this one for now. Chances are that if the seller has any kind of a relationship with this person, he may be able to help them haul this stuff away. If so, it probably won't collect again for some time, since it has most likely taken many years to grow this big.
But make sure you are comfortable with the situation, as I have seen a lot of interesting things in this business over the years!
Monday, March 10, 2008
Now Hiring Lake Specialists!
As our business continues to grow each year, we always have several agents (both brand new and experienced) approach us on joining our company. In the past six years, Lakehomes.com Realty has grown from little more than a husband and wife team, to a company with waterfront specialists in many areas of Minnesota and Western Wisconsin. But due to our popularity on the Internet, we have a steady stream of buyer and seller requests in market areas where we could definitely use a little more help...and any agent who joined us in those places would have wide open markets to work in. Not a bad deal for a motivated individual!
Sandy and I have been lake specialists for our entire real estate career, and it has always been easy for us to stand out from the rest of the agents because of our differentiation. As the Internet began to take hold in the mid 90s, we were able to create incredible search results on many of the search engines to make it even easier for potential customers to find us. Back then only 2% of the real estate buyers were using the web to search for homes...today it is over 85%!
Niche companies like us - in any field - are suited perfectly for Internet shoppers. It is so easy to type a term like "Minneapolis waterfront property" or "Duluth lakefront real estate" into a search engine to find what you are looking for, rather than a more generic string of words. It is true in anything you are searching for these days.
If someone is looking for information on "Mille Lacs Lake crappie fishing," they can type that into a search engine rather than looking through a pile of fishing publications hoping to find a pertinent article. And who would think of purchasing a $50 medical journal anymore to search for a disease they might have, instead of just entering those symptoms into the Google search bar?
Most of the agents that have come to work for us understand the strength of this differentiation. As the real estate market has slowed overall, many of our agents are as busy as ever because of their ability to truly say something different. But beyond just telling the sellers they will do a better job in exposing their property, they can actually prove it with strong search results from many of our waterfront websites. And with nearly 90% of all buyers using the Internet to shop for real estate, there isn't much doubt in where those listings will get seen the most.
Whether you are an experienced agent who loves selling waterfront properties, or someone who just wants to sell a few places around your own lake, we have some pretty interesting opportunities right now. And if you enjoy talking to potential clients, we can give you something quite different to talk about with our unique form of marketing! It will certainly give you a foot in the door.
When Sandy and I created our niche business nearly 20 years ago, hardly anyone in real estate specialized in anything. Other than differentiating between commercial real estate and residential real estate, most agents listed and sold pretty much any type of property they could - and the best way to get the phone to ring was to run numerous ads each week in the newspaper. Unfortunately, that doesn't work too well anymore, and a lot of agents have had to leave the business because they weren't able to change along with the times.
Today, there are a lot more agents who market themselves as specialists in all facets of real estate - from hobby farms to condos - and yes, of course, there are plenty of lakeshore specialists. But we have tried to take it a step further as an entire company of waterfront specialists, leaving no doubt that that is what we do best. Therefore, any agent who comes to work for us can save a considerable amount of time and money by avoiding the high costs of creating his or her own image in this high-end niche market. Many of our brand new agents have certainly proven this by becoming multi-million dollar producers in their first year with this built-in differentiation.
There is one negative in becoming a specialist in anything; it is hard to say you are also a specialist in something else. Although, it can be quite comical to look through a real estate guide and notice that some agents specialize in nearly everything: residential real estate, commercial real estate, townhomes, resorts, gas stations, apartment buildings...even timeshares. It's kind of like a doctor specializing in heart surgery, brain surgery and delivering babies. To be fair, a lot of our agents do end up selling other types of real estate - especially large acreage and recreational properties - because many of the buyers that are interested in waterfront property are also looking at those types of things.
If you have a passion for waterfront properties, there isn't a more enjoyable area of real estate to work in. And as many of our agents will attest...the boss isn't a bad guy either! However, if you don't believe them, you can call me at the office at 866-327-9889 to judge for yourself.
Friday, March 7, 2008
Part 5 of Series..."What to Think About When Buying Lakeshore"
Part 5: Where's the Sun?
Spending time at the lake goes hand in hand with spending time in the sun...for most people. Some folks would rather keep that big bright beast away from their skin, but it seems they are the minority here.
The way this winter is dragging on, it's not a wonder that we need to get a little bit of warmth back in our bodies to recuperate from these dreary days. Even those who love winter are probably not loving it all that much in the middle of March. So, for many of us, our thoughts start turning to visions of sun-soaked days lying on the beach or the dock. Of course, that is why most all of the flights are booked to Mexico and Orlando this time of year - but those that are stuck in the north country are just looking out their windows each morning to see if the snow has melted yet here in Minnesota.
I think I got away from what I was going to talk about in this article, because I also started dreaming about the beach. It sure doesn't take much to get my mind to wander this time of year.
This article is supposed to be about which direction you want to face when you purchase a lakefront home or cabin. Those who love the sun generally ask for southern or southwestern exposure so they can get the strong rays all day long. But many people who live on those parts of the lake tell me that there is also a negative that goes along with that...they tend to get the most wind, because prevailing winds in much of Minnesota during the summer months are from the south or west. If you have a sand beach along with frequent waves, you will probably have quite a bit of debris to clean up on your shore fairly often.
I also get a lot of requests for west facing property, since buyers typically understand that it offers great afternoon sunshine and spectacular sunsets. But, remember that in the afternoon, the sun becomes lower in the sky and you may be sitting on your deck looking right into a big bright ball of fire. Also, the sun actually sets more to the northwest in the summer, so make sure you are not facing southwest if you want to see the best sunsets.
That brings me to the least sought after direction - which is north. Facing north really isn't as bad as some people believe. My cabin faces due north and I get sun all day long. I also avoid those prevalent winds that come out of the south many days during the summer months. And, for the most part, north views still bring in pretty nice sunsets that occur in the northwest skies.
Finally, I'll talk about east facing lakefront real estate. As we all know, facing east will give that refreshing early morning sunshine...kind of like a Florida Orange Juice commercial. It can be a great start to the day when those first rays of the day find your property and shoo away the dew from your deck and lawn after the damp night air. But, if you want the afternoon sunshine (especially if you have large trees or a hill to the west of you), this may not be the ideal direction for you to face. Since the sun is a bit lower later in the day, those trees and higher elevations bring an early darkness to the east side of the lake.
Well, that is a quick rundown on what to think about when you are looking at any particular property. However, unless you have a very strong conviction about which direction you want to face, it is best not to limit your criteria too much until you look at the actual properties. Every lake place has its own pros and cons, and you might be missing out on a spectacular waterfront property if you tell your Realtor to only look for the ones that face in a particular direction.
Spending time at the lake goes hand in hand with spending time in the sun...for most people. Some folks would rather keep that big bright beast away from their skin, but it seems they are the minority here.
The way this winter is dragging on, it's not a wonder that we need to get a little bit of warmth back in our bodies to recuperate from these dreary days. Even those who love winter are probably not loving it all that much in the middle of March. So, for many of us, our thoughts start turning to visions of sun-soaked days lying on the beach or the dock. Of course, that is why most all of the flights are booked to Mexico and Orlando this time of year - but those that are stuck in the north country are just looking out their windows each morning to see if the snow has melted yet here in Minnesota.
I think I got away from what I was going to talk about in this article, because I also started dreaming about the beach. It sure doesn't take much to get my mind to wander this time of year.
This article is supposed to be about which direction you want to face when you purchase a lakefront home or cabin. Those who love the sun generally ask for southern or southwestern exposure so they can get the strong rays all day long. But many people who live on those parts of the lake tell me that there is also a negative that goes along with that...they tend to get the most wind, because prevailing winds in much of Minnesota during the summer months are from the south or west. If you have a sand beach along with frequent waves, you will probably have quite a bit of debris to clean up on your shore fairly often.
I also get a lot of requests for west facing property, since buyers typically understand that it offers great afternoon sunshine and spectacular sunsets. But, remember that in the afternoon, the sun becomes lower in the sky and you may be sitting on your deck looking right into a big bright ball of fire. Also, the sun actually sets more to the northwest in the summer, so make sure you are not facing southwest if you want to see the best sunsets.
That brings me to the least sought after direction - which is north. Facing north really isn't as bad as some people believe. My cabin faces due north and I get sun all day long. I also avoid those prevalent winds that come out of the south many days during the summer months. And, for the most part, north views still bring in pretty nice sunsets that occur in the northwest skies.
Finally, I'll talk about east facing lakefront real estate. As we all know, facing east will give that refreshing early morning sunshine...kind of like a Florida Orange Juice commercial. It can be a great start to the day when those first rays of the day find your property and shoo away the dew from your deck and lawn after the damp night air. But, if you want the afternoon sunshine (especially if you have large trees or a hill to the west of you), this may not be the ideal direction for you to face. Since the sun is a bit lower later in the day, those trees and higher elevations bring an early darkness to the east side of the lake.
Well, that is a quick rundown on what to think about when you are looking at any particular property. However, unless you have a very strong conviction about which direction you want to face, it is best not to limit your criteria too much until you look at the actual properties. Every lake place has its own pros and cons, and you might be missing out on a spectacular waterfront property if you tell your Realtor to only look for the ones that face in a particular direction.
Tuesday, March 4, 2008
Why Agents Need Great Internet Exposure
The other day, Craig Mische emailed me to let me know about a new sale he had. Only this one was different...the buyers came from the Internet and purchased the home without seeing it! I have had a few of these also because of our Internet strength over the years, so I wanted to briefly talk about it.
Craig actually did help out quite a bit by going to the property and shooting a high definition video for them. With that they had an acceptable comfort level to make an offer, and were able to come to an agreement on price and terms. I believe that Craig's website was also a factor in the buyer's comfort level with him, which probably made the process easier overall.
Many agents rely upon their brokers to provide a company website that will give information to potential buyers and sellers who come across it. Craig's own website is probably better than most company sites, in that it is full of great information on Alexandria and the lakes that surround it. His blog keeps viewers informed of new happenings and sale prices in the area, so they keep coming back to see what is new. And, they get to know him personally, which is obviously important in any type of sales.
On our website at Lakehomes.com, we try to provide as much good information as possible for the consumer, so that they don't have to look anywhere else. We also try to add a little extra information about our agents in the Agent Profiles and our Agent Pages on LakehomesUSA.com. These things - combined - can not only help the consumers understand who they are contacting ahead of time, but it helps the agent attract business directly to themselves through our strong search results.
But if you are really serious about the real estate business, create a good website for yourself in addition to anything your company provides. As many of our agents have found, your exposure will increase exponentially - including increased search results for you and your listings - by combining all the linking capabilities between the company sites and your own. It will definitely put you several steps ahead of the pack.
Craig actually did help out quite a bit by going to the property and shooting a high definition video for them. With that they had an acceptable comfort level to make an offer, and were able to come to an agreement on price and terms. I believe that Craig's website was also a factor in the buyer's comfort level with him, which probably made the process easier overall.
Many agents rely upon their brokers to provide a company website that will give information to potential buyers and sellers who come across it. Craig's own website is probably better than most company sites, in that it is full of great information on Alexandria and the lakes that surround it. His blog keeps viewers informed of new happenings and sale prices in the area, so they keep coming back to see what is new. And, they get to know him personally, which is obviously important in any type of sales.
On our website at Lakehomes.com, we try to provide as much good information as possible for the consumer, so that they don't have to look anywhere else. We also try to add a little extra information about our agents in the Agent Profiles and our Agent Pages on LakehomesUSA.com. These things - combined - can not only help the consumers understand who they are contacting ahead of time, but it helps the agent attract business directly to themselves through our strong search results.
But if you are really serious about the real estate business, create a good website for yourself in addition to anything your company provides. As many of our agents have found, your exposure will increase exponentially - including increased search results for you and your listings - by combining all the linking capabilities between the company sites and your own. It will definitely put you several steps ahead of the pack.
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