Grand Lake Real EstateThursday, May 20th, 2010
Grand Lake real estate sales have been picking up slowly but surely. Sales prices vs list prices are still all over the board but if a property is priced on the market correctly, the sales price will be 90+% of the list price. There are properties listed way over the value in the peak year of 2007 and they either do not sell or the list price is discounted to get to a real price. Fire sales like you read about in Nevada or Florida are not seen on Grand Lake. Prices even at the peak in 2007 did not skyrocket here as did Nevada and Florida.
We had three properties go under contract yesterday, which is a great day for us. The first is a luxury Grand Lake waterfront home priced in the $750,000-1,000,000 catagory. The home is not closed yet so I will not disclose the selling price but the home went under contract for more than it did one year ago by several thousand dollars. The next home in the $150,000-175,000 price range also sold for a few thousand dollars more than one year ago. The year ago sale was after the home had been on the market over a year with a highly inflated asking price and the home did not sell until price got right. This time the home sold in 43 days. The main difference is the home was priced right this time and the current owners had shined up a few spots in home to make it show better, decluttered the home, and brightened the rooms with lighter colored paint. It is unusual for a home to go back on the market in such a short time but for family reasons the two homes just wrote about did.
The third home yesterday was a fixer upper in the less than $50,000 catagory that was on the market less than a week.
One of the agents in our RE/MAX Grand Lake office had an unusual experience last Friday, Saturday, and Sunday. He had three different home buyers come on the three different days and all three picked out homes and bid them at 65-68% of list price. The homes were not priced sky high. The result, all three sellers merely laughed at the bids and did not respond. They told the listing realtor to pass the word to the buyers that when they got serious they would talk to them. The moral of this story is, do your homework on the market. Your real estate agent can give you comp sales in the area for the home you wish to make an offer on. Use this information and bid the market. If a home is grossly overpriced bid accordingly, if it is priced right be happy you can get a nice home priced right without a lot of hassle.
For information on buying or selling Grand Lake real estate whether it be a waterfront home, lakeview home, golf course home, investment, or commercial property call the Grand Lake Team, Aaron Hughes or Joe Neill. For Aaron call 918 801-5645 or firstname.lastname@example.org. For Joe call 918 640-3300 or email@example.com. We hope to hear from you soon. To search our Grand Lake MLS go to the button above. Also check out our featured listings button above.