Lake Oakland Lakefront Home Sales- Great News If You're Selling! Buyers- Play Games And You May Lose Out!
Good news for current homeowners on Lake Oakland in Clarkston and Waterford MI. Prices are up and homes are selling quickly. If you want to live or own a cottage on Lake Oakland, you may need to wait for the right house to come up, but when it does, don't hesitate or play games with the offer price or you may never get that house. Or worse you may end up in a Lake Oakland home in a year when prices are higher and interest rates will probably be higher, too!
The average sales price in 2011 was up 13% from 2010. Most houses sold within a few per cent of asking price if they didn't sell for full price or more. Of the 12 sales on Lake Oakland in 2011 5 homes sold for full price or more. One house even sold for 34 1/2% over the list price. The longest time on the market was 34 days and many sold within the first week.
There are currently 4 pending sales on Lake Oakland- 3 normal sales and 1 bank owned home- ranging in list price from $209,900-$400,000. The sad news is if you are buying there are only 4 active listings- all non distressed sales- ranging in price from $189,900-$715,000.
2010: 14 units sold
2011: 12 units sold
2010 average sales price: $194,677
2011 average sales price: $223,320
2010: 6 bank owned sales and 3 short sales
2011: 5 bank owned sales and 1 short sale
2010: sale prices ranged from $95,000-$300,000
2011: sale prices ranged from $98,700-$560,000
Please don't hesitate to contact me for additional information about homes for sale on Lake Oakland. With prices still low it is a good time to buy a cottage or second home or to upgrade to that lake house. Interest rates are still great and FHA will mortgage up to just under $300,000 so you don't need a lot of cash (liquid) in order to buy right now. FHA 203 loans will allow you to mortgage the money needed to fix up a house that has been neglected or even beat up as many of the bank owned homes are.
Keller Williams Realty, Clarkston MI
Cell: (248) 736-6407