It's October and Southeastern Michigan lake front real estate sales are slowing down. It's a natural cycle here in Michigan. The market gets hot in early spring and then slows down in the fall. What I have noticed lately is that many lakefront homes are starting to sit longer on the market.
Lakefront home prices jumped up this year. Nice updated lakefront homes that were priced right sold in a couple of weeks. The under $250,000 market was very hot. So many sellers and real estate agents started pricing the lake homes on the high side. Unfortunately some of these homes that came to market were overpriced for the condition they were in. Everybody thought it was a hot market so let's price them high. Well some of them are sitting on the market now unsold after 150 -200 days.
If your Southeastern Michigan lake front home has been sitting on the market over 150 days it is overpriced! It is that simple. There are lake buyers out there. Either you have to lower the price or fix the home up better. Sometimes little fixes of fixing drywall and painting make a huge difference. Making the lakefront home look like it has been cared for is huge.
So what I am saying is in the next few months lake homes will sell, but at a much slower pace. If your home has been on a long time (over 200 days) I would suggest pulling it off the market for a few months. Take the time to think about lowering the price or do some improvements to the lake home. Give me a call on my cell at (313) 310-9855....if you list with me I will do a walk through and give you suggestions on what to do to make your home more saleable. I'm good at staging a home to get top dollar.
So bottom line is: if you want to SELL either lower the price or fix it up nicer.
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