Oakland County waterfront property update

It is now the end of May in 2013 and if you  are a buyer or seller of Oakland County waterfront property you may want another perspective of what  a lakefront realtor is seeing.  Everybody knows that lakefront home prices have gone up.  That is becoming an issue with some Oakland County waterfront property owners.  I have been on a few appointments this year and some people have extremely overpriced their lakefront homes.  Priced them so high they they have been sitting for months and months.  If you are going to list your house the question you have to ask yourself is do your really want to sell?  If you do then you want to price your home at the top end of the recent sold homes and compare the condition of the sold home to yours.   Here are some of my examples of some of the Oakland County waterfront properties.

1.  Silly Stevie the seller of Waterford has had his house listed for 2 years at the same price.  It is too high for the condition it is in.  It has an odd layout and is in average condition.  Silly Stevie the seller is adamant it is worth the price he is asking.  Now the issue every buyer asks when they come in the door is ” What is wrong with this house that it has been on the market for 2 years”.

The bargain homes and the move in ready homes sometimes sell in just a few days.  So Many homebuyers never even see them because they are not getting the newest home listings sent to them.  Get the best homes emailed to you as soon as they hit the market.  Join my

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White Lake waterfront properties for sale

White Lake waterfront properties for sale

2.   Shellie of West Bloomfield wants to move to help his son out.  All the canal front homes like hers were selling for $190,000 or less in good condition.  I thought it was pushing it to list Shellie’s canal front home for $180,000 because her house was dated.  The home has been on the market since February and still hasn’t sold.  WE HAVE A SHORTAGE OF HOMES….THE ONLY REASON A HOME WILL NOT SELL RIGHT NOW IS BECAUSE IT IS OVERPRICED FOR THE CONDITION.

3.  I meet with a lakefront home seller on White Lake.  It was a 2100 square foot home.  He wanted to list his house at $400 a square foot.  He was crazy.  There hasn’t been a house on White Lake that sold for over $200 a square foot.  Even pricey lakes like Upper Straits did not have houses that sold for over $400 a square foot.  But yet I am seeing Oakland County waterfront properties being listed  100% higher than the highest sold last year.

Tull Lake White Lake MI

Tull Lake White Lake MI

That is crazy.  It most likely will never sell.  It would never appraise for sure.  So if you really want to sell then you have to be realistic.  Look at recent sold homes on your lake and lake homes in your community.  Pricing your home right will get it sold.  Pricing it crazy will mean that you will still have your home next year.

Lake Ona Homes for Sale

Lake Orion Lakefront foreclosures

Lake Sherwood Waterfront Properties

Lakeville Lake Addison Township

 

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