A cool, crisp morning to greet you with beautiful weather and sunshine. Highs will still end up in the 70’s and still plenty of lake fun on year round recreational lakes like Tellico Lake, Ft. Loudoun Lake, and Watts Bar Lake.
Most people believe that the optimal time to list your house is in the spring. There is no question that spring is the busiest real estate market especially on the lake. In truth, lake houses sell year-round, so there really isn’t a bad time. Here are some considerations for the timing of buying or selling your dream house.
When it comes to the buying and selling of lakefront property, 39% of sales take place between September and the end of the year. Research shows that the most optimal time to buy lakefront property is anywhere between October and the end of December.
Consider this: somebody who owns a East Tennessee lake house and is planning to sell is likely to hold onto it for one more summer, choosing to wait until after Labor Day to put it on the market. Due to this factor, there is sure to be a higher amount of lake houses on the market for you to choose from in the fall.
It’s also important to know what the lake property look like “offseason.” This is especially important if you are planning to live there all year long, or if you intend to rent it out when not in use.
How the lakefront real estate market changes after labor day:
- Fall real estate can be more of a buyers market- You might find that competition is down for homes after Labor Day.
- Sellers are motivated to sell properties during the off-months so they don’t have to carry the property costs through the off season.
- It’s a great time to see what fall/winter is like on the lake! Summer time is prime boating season but by buying in the fall you can see what the area has to offer. If you wait until the fall to look at properties you’ll be able to see what the lowest water level is like on the lake and what the shoreline looks like around a property at this level.
- The fall is a beautiful time to see fall foliage on Tellico Lake, enjoy the endless activities the area has to offer and bask in the crisp and colorful beauty.
If your finances are in order and you have a flexible schedule, then buying a East Tennessee lake house in the fall or winter is the way to go. There will be less competition between buyers and more property options to choose from. Your Lake Specialist will have more time to focus on you and you will get the best possible price offers on the market. You will have the opportunity to experience lake properties through various seasons in both hot and cold temperatures. And if you buy a East Tennessee lake property in the fall, you will have plenty of time to remodel and make any necessary repairs so that your dream lake house is ready for action in the Spring and Summer months!
Excerpts by Scott Freerksen
Posted by Karen Millikan, Broker/REALTOR®, Lakefront Living Realty TN