For Waterfront Property Buyers – Now’s The Time

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For Waterfront Property Buyers – Now’s The Time


In the aftermath of a long, snowy winter where the evening news was filled with stories about mortgage meltdowns, rising oil prices, recession, inflation, a long presidential campaign, and a longer war, it’s no wonder we all feel a little worn out. But I’ve been reading some sunnier news.
You may be surprised to know that this is a great time to be a buyer of lakefront real estate. Why? Predominantly because since late 2005 the market has turned – from a seller’s market to a buyer’s market. By that I simply mean there are more people selling than there are people buying. That puts the buyer in the driver’s seat. Here’s a short list of why buyers have things going their way right now.
1 – Selection. There’s a lot of property for sale right now and more coming onto the market every day. Selection not only means there’s a lot more to choose from, but also that there will be competitive pricing.
2 – Bargaining Power. With an overabundance of sellers wanting to attract the attention of an insufficient number of buyers, the buyers have the advantage on pricing. Buyers can use similar properties for sale in the same market as motivators for sellers to listen to reasonable offers.
3 – Low Mortgage Rates. 30 year fixed, still around 6%. Cheap money. Need I say more.
4 – Timing. It’s spring and we’re just coming into the season for lakefront property. This is the best time to start looking. Sometimes a buyer can find an early season bargain, other times it’s just helpful to know what’s currently out there early on, then watch the market weekly to see what new comes on. Enlisting the help of a buyer’s broker can be very helpful. Plus, if you get something under contract early in the season, you can enjoy it this year, not next…which brings me to my last point…
5 – Enjoyment. Looking at balances in a savings account, CD, or stock portfolio is all well and good, but as far as assets go, you can’t beat sitting in a wicker lawn chair, putting your feet up on a deck rail on a July afternoon, a cold beverage in hand, and looking out at the water – and it’s all yours. It’s your asset, you own it, and you can enjoy it – by yourself, with your family, and with friends. How great of an asset is that?!
If you’re like most people there are probably a hundred reasons not to make a move on a waterfront property this year, but my guess is they pale in comparison to the five reasons for buying that I list above.
If you’d like to start looking, there’s no better place to start than online, using our Lakefront Locator. You can see all the current listings, see them located on a map, and get more information by simply shooting us an email directly from the site. Try it out. It’s a good place to start.

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