The Real Estate Market on Grand LakeSunday, June 15th, 2008
The real estate market on Grand Lake in Northeast Oklahoma is alive and well. The market is not robost but properties are moving when priced right and presented right. Prices are steady with last year and recent highs. The Oklahoma real estate market did not get over heated as did the market in Nevada, California, and Florida.
Memorial Day my team partner, Aaron Hughes, and I were working. We had an appointment with a Kansas family wanting to buy a second home on the lake for their weekend retreat. The people called and were running late. We killed a couple of hours waiting and I spent the time going back and forth to the new listings page on our multi-list. All of a sudden at about 2:30 I noticed a new listing just posted on Monkey Island in Brigthon Bay. I immediately told Aaron this new listing was just what another Kansas family we had been showing Patricia Island homes to wanted. This family loved the waterfront homes on Patricia Island and liked the golf course out the front door and the lake out the back but finally had determined they had to be on Monkey Island to be close to a son and his family who had a weekend home on Monkey Island. We called this couple and told them of the new listing and they said they would postpone their return to Kansas until later in evening when we could get to show to them. The couple we were waiting on arrived and we showed them Patricia Island Estates homes also. After touring the waterfront homes we had set up, they decided to return to one and relook at it. At this point I excused myself and Aaron took the couple back to relook at a fine waterfront home while I hotfooted it back to Monkey Island to show the Brighton Bay home. I called the people while on my way and they were waiting at Brighton Bay’s gate, since it is a gated community on the lake, when I arrived at about 6:00 pm. We walked in the home and the couple immediately knew this was the one they were waiting on. We toured the home, property, and boat slip and by 7:00 pm we were in Grove writing a contract offer. The home was in excellent condition and priced on the market in a nice location. The buyers saw this and did not try to steal the home. We had a deal within an hour with the seller and the listing real estate office. Aaron’s people made an offer on a Patricia Island home but tried to steal it and the owner refused to counter their offer. This home was priced too high and the buyer’s tried to buy it too cheap. No one won. Had this home been priced correctly it would have sold also. Both sides are still thinking and maybe we will get it done yet but not at this writing.
I recently wrote of a new Monkey Island waterfront home Aaron and I listed. The couple who owned the home had the home on the market for six months from a local office of three. This office is a long time fixture on Monkey Island and they are great people but do most if not all marketing to people who walk in the office door. They had not sold the home and the owners decided they needed a new plan. They searched the web for Monkey Island real estate and Grand Lake real estate and found that our web sites popped up in the top five of the result most every time. They liked this and called us for the listing appointment. We talked to the couple of our four personal web sites and our RE/MAX Grand Lake site, the remax.com national web site, and another pay to list site we use. They liked our marketing plan and the fact we had twenty or so agents in our office that would also try to sell their home. We liked their home and we arrived at a list price that was fair and full market value but not overpriced. We got the listing. The next Tuesday we took the other RE/MAX Grand Lake agents to see our listing on our office tour day. That day two agents arranged to show the home to people they were currently working with. One couple did not tarry, they looked and liked what they saw. They had been educated to the Grand Lake market and knew this home in their price range was hard to find and this fine home was in the area they liked, in great condition, and priced right. We had an offer within a day after their showing and with a small amount of haggling a deal was made. This home went under contract in about ten days time.
All Grand Lake homes will not sell as fast as these two recent examples but most will sell in do time if in good repair, in a nice location, and priced right. Remember these tips when buying and selling lake property. It will pay off in the long run.
For personal tips on buying and selling call Aaron Hughes at 918 801-5645 or Joe Neill at 918 640-3300. We are the Grand Lake Team at RE/MAX Grand Lake in Grove and Monkey Island. Follow our link button to our web site and multi-list search. Our featured homes are our personal listings. We hope to hear from you soon.