Home Selling in 55042>Question Details

rle2491, Home Seller in Lake Elmo, MN

how to price lake front home?

Asked by rle2491, Lake Elmo, MN Thu May 2, 2013

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Start with your own real estate agent, He or she will find you all the information and resources you need to price and or sell your lake front property. If you are unsure how to get the agent you need, just ask I will gladly send you my brochure on how to hire your best possible representative, Remember, you pay nothing upfront, so "hiring" in real estate transactions is a little different, Inform, choose, put your agent under contract and proceed, from setting the price if you wish to sell to finding another home, purchased or rented, and closing the transaction to your satisfaction, Liz, 612-986-4105
0 votes Thank Flag Link Thu May 2, 2013
When I price out a lake front home it does not start out that much different than doing a market analysis for any other house. I am still trying to compare "apples to apples", because realtors do not make adjustments like appraisers do. You hope to be able to stick with homes specifically tied to lake Elmo.

The only main issue is that you tend to get more custom homes on lakes so the comps can be challenging. The lots/lake frontage also become the other main challenge.

There are other variables to look at such as DOM in case you need to sell in a certain timeline, but otherwise looking at comps is what allows us to determine value. Just like appraisers if you ask 5 realtors to come up with value you will probably get 5 different answers. For lake shore than I would be OK with a range of $20,000. The important thing when interviewing realtors is listening to their reasoning for determining value. If a Realtor can not communicate effectively to you how they determined value that is a problem.

I would certainly love the opportunity to be interviewed if you do choose to list!

Chris Block
0 votes Thank Flag Link Thu May 2, 2013
I agree with Simon (why he's answering questions from MN in FL I have no clue) except you could hire 10 different appraisers and get 10 different values. Real Estate Pros use the data that makes the market. If you don't want to spend thousands, just ask your agent. If you don't have one, and you intend to sell, you'll want to get in touch with an agent that understands lakeshore...in your area. A house is a house, but lake front is all different.

Feel free to call or email.

Kevin Marois
Integrity 1st Team
Keller Williams
0 votes Thank Flag Link Thu May 2, 2013
I'd be happy to help you with pricing if you're considering selling with a no
obligation market analysis. I LOVE Lake Elmo and have been selling homes
in the Twin Cities since 1980.

Pricing takes into consideration, home & condition, sq.footage, the lot, and
comparable properties. And, of course, the current market.

You may reach me via email or phone (651) 457-HOME (4663)
kim (at) www QuickHomesSearch.com


Kim Eisen
Realtor since 1980
Bridge Realty.
0 votes Thank Flag Link Thu May 2, 2013
The most accurate way to find out the value of your lakefront home is to hire a real estate appraiser. They know the market inside and out. The appraisal will cost you between $300 - $600 depending on the difficulty of the appraiser and local rates. This can be used as a selling tool which will greatly help facilitate a sale.

Another option is to talk to a qualified, licensed and experienced Realtor. They can prepare a Broker's Price Opinion (BPO). It is less accurate of a report but it will give you a good ballpark to work from. Generally this report is free or nearly so.
0 votes Thank Flag Link Thu May 2, 2013
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