If you compare where home prices should be over the last 12-13 years we are now about normal I would say, but if you look at the jump in prices over the past 9 months they have went straight up and gained most of the ground needed to account for inflation over the past 12-13 years almost all at once. Yes, after seeing prices go down after the 2008 financial crisis and then languish for years with little price increase and then wow the past 9 months has seen straight up. I guess home prices have turned alot like stock prices. One can go quite sometime in stocks with little upswing and then see the stock market go up fast in one pop. That is what home prices in the Grand Lake area have done.
If you have been thinking about you should sell the Grand Lake Waterfront Family Second Home that is not used much anymore or if you have a home in one of Grove’s finest subdivisions such as Patricia Island or Buffalo Shores and you think it might be getting time to move closer to family then I would think fast and get your home on the market. Right now we have little inventory of good Grand Lake waterfront homes for sale or Grove popular subdivision homes like a Wildwood Farms or the two mentioned above, or a Monkey Island gated community home or Grove gated community home in most any price range from the lowest to the highest price point. Buyers are seeking homes and willing to pay top dollar. However, most area Realtors think we may have peaked on demand and that while prices probably won’t change much for some time, certainly until more inventory of homes for sale becomes available but still the bloom could be off the demand soon. So, if you are on the fence about selling, I would act fast and be ready to move fast. If you are selling a second home you do not have to replace it in this market. If moving to be closer to family or city for other reasons it probably is prudent to rent for a year or so and decide just where you want to own next and let the market cool off some. You could have the best of all worlds by selling in the up market and not replacing until more homes are available to pick from.
Give all the above some thought. If you would like to talk to Realtors who know the Grand Lake Real Estate Market, will be honest with you in regard to all aspects of home selling and prices, and work for your interest then give Amy Wright and Joe Neill–the Keller Williams Realty Grand Lake Team a call. Amy may be reached at 918 791-1594 or Joe at 918 640-3300 or email grandlaketeam@kw.com. We are here to help and it cost nothing to visit about your home and needs.
