A Sign of Life

After several years of nearly nonexistent spring markets -- due to both weather and markets trending in the wrong direction -- it feels like there is a little bit of life out there this year. It isn't a surprise that this awakening is beginning to take place, with a combination of depleted snow, low interest rates, and pent-up demand.

Although there is still a lot of inventory available, it is becoming quite obvious that waterfront properties in good condition and priced accordingly -- especially those with sandy shoreline and attractive settings -- are catching the attention of more buyers earlier than normal. The real benefit to buyers is that, unlike many years, sellers who are serious about selling are not playing the "let's see what we can get" game of pricing their lake places higher for the spring market. With slow sales since 2006, those who want to sell are realizing that they need to be attractive in both condition and price for a successful sale to happen. And with a limited season, you can't wait until July to bring the price down...or it is just too late!

The one thing that I've really noticed is how much of a divide there currently is in good lake properties over the not-so-good ones. There is always a lot of junk on the market in any type of real estate, but now, more than ever, those ugly ducklings really stand out. And typically, those are the ones that seem most unrealistic in their pricing.

So if you have been holding off for a couple years while the market has been declining, I think it has finally declined. There are some extraordinary deals out there, both in properties that have dropped in price during the last year, and in some of the ones that are just coming on the market.

Prices generally begin to jump up along with buyer activity. So if you want the best deal, just beat the rest of them to the "closing" table! And with a possible early ice-out, you just might get an entire season of enjoyment at the lake.