Monday, February 4, 2013

2013 May be a Good One for Lake Property Buyers!

Lake homes and cabins seem to have begun a rebound in demand once again in many parts of Minnesota. Buyers who have sat on the sidelines for several years, while the real estate market was on a downward slide, have been more anxious to begin their searches for a waterfront getaway than they have been for some time. Most real estate agents I talk with in Minnesota -- and across the country -- seem to think we are in for a very good year in sales for 2013.

 A couple factors that are helping create the demand are no doubt the positive media coverage we are seeing for the housing market. Talk of increasing new construction starts, rising interest rates, and the likelihood of higher sale prices are all fueling demand. Not too mention the fact that there is a ton of pent-up demand for those who couldn't bring themselves to risk jumping into a lake property while prices were declining.

Overall, I believe that lake property buyers who purchased during the past year or so will look back and realize they purchased at or near the bottom of the market. If you are shooting for that same goal, it may very well be time to jump in.

No comments: