A Strange Year

After doing this real estate stuff for as long as I have, you tend to expect certain things at different times of the year. Generally, everyone gears up for a busy spring market, followed by a typically good summer market. Then when fall comes, the buyers become more choosy and mainly look for good deals. Winter is normally slow in Minnesota, so then we just get ready for spring again.

But the last few years - and certainly this year - it is hard to judge just what to expect in any given month. The economy has dealt nearly everyone a blow, so it is not surprising that people are a bit more cautious. But what is most surprising to me is the amount of interest we are seeing from potential buyers looking for properties online...yet not really making contact with agents or looking at homes in person.

The number of visitors on our website has increased tremendously, so I can only assume that most of those people have the financial ability to purchase a lake property of some sort. Perhaps, everyone is just trying to make sure that prices have bottomed before they jump in.

I don't know if we are at the bottom or not, but it sure feels like prices can't really go much lower. It seems like a lot of sellers are deciding to pull the plug, and just take their homes off the market until things change. Generally, that is a pretty strong indication that we have hit a bottom, so we'll see.

If you are a serious buyer and just waiting for the perfect time to get out and find that perfect lake place, I don't think you will ever see a better opportunity to pick up a great value on a waterfront home or cabin. But unless you get out there and see a few of them in person, you may never know for sure.