This is a transition time here in the Lakes Region. In my life in the boat business, this is the time that I got to really enjoy the lake. I would spend the fall picking up client’s boats all over the lake for winter storage, and got to spend time on the lake with very little company.
Things start to slow down now, but only briefly. In 10 days to two weeks we will see activity pick up again as the foliage season begins and the Fairs draw crowds. This will happen to the Real Estate business as well. We have had a busy summer. Our firm has seen a dramatic uptick in sales. The recent rise in mortgage rates (as small as it has been) has spurred folk who have been sitting and waiting to take advantage of this once in a lifetime market by buying now before the rates increase again. What does this mean? If you’re thinking of buying – jump in. Prices are the lowest in years, and mortgage rates are still south of 5%. If you want to sell, people are buying. You’re not going to hit a home run on price, but selling now will prevent you from carrying the ownership costs from here on.
As is always the case in our market, waterfront properties are the main attraction. People will be up soon looking for next years summer home on the lake. If you are thinking of selling your waterfront home, call me and we’ll get your home listed and ready to present to this next wave of buyers.
Time goes by fast (maybe too fast). Winter will be here soon, and the skis will be out. Before you know it, it will be spring and we’ll be off and running again.
Post written by: Kim Cedarstrom, commercial/residential Realtor® with Roche Realty Group
kcedarstrom@rocherealtygroup.
Kim Cedarstrom is a licensed residential and commercial Realtor© and consultant and president of Great Northern Real Estate and Business Consultants, an affiliate of Roche Realty Group offering a lakefront/residential real estate practice as well as commercial property and business sales services. Kim can be reached at [email protected] or directly at 603-520-6609.
