By James Gray
Clients ask me all the time, “When is the best time of the year to buy a home on Hartwell Lake?” The answer becomes obvious when considering supply and demand. A limited number of lake-front properties are available or will ever become available. Of those for sale, an even more limited number meet the needs of the prospective buyer. When is the right time to buy? As soon as you find the home you desire. Lake-front properties never last long, and the one that fits your lifestyle may come along literally once in a lifetime.
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Seasonal opportunity — bah
Some clients think of buying lake homes the way they think of buying boats. Will more be available in the winter? Can they get more for their money during cold weather? I have never seen season significantly affect the number of available lake properties or purchase prices. The demand for homes and lots on Hartwell Lake is and forever will be higher than the available properties, no matter what season of the year. The best time to buy is when you find the home you want and can afford. Act immediately: later down the road — if your desired home is still available — you will end up paying more.
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National trends rarely affect the lake
I have talked with some clients who find themselves hesitant to buy because of what they refer to as “current market conditions.” A savvy investor will recognize that the market for lake-front property operates differently than most real estate markets. In fact, a slump in the national housing market rarely affects Hartwell Lake. However, this national downturn may create hesitancy on the part of some prospective buyers, which presents a perfect buying opportunity for smart investors. When purchasers pause in the Hartwell Lake market, opportunities are created. There is more choice, more properties available in your price range.
Media has also focused attention on nation-wide foreclosure rates and tightening mortgage requirements. This leads to some prospective buyers being less confident in their ability to get financing on second homes and lake lots. Perhaps some homeowners with adjustable rate mortgages on real estate have turned their attention to refinancing properties they currently own, and put the dream of owning a home on Hartwell Lake on the back burner for a while. Again, when purchasers pause, opportunities increase for those who act. Contrary to common perception, my current clients are enjoying better mortgage options and rates than ever before. And they have
See TIME TO BUY on page 5
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