Trulia Voices: Is now a good time to buy lake property?

Answer by CENTURY 21 Woods to Water Realty

Wed, 24 Jun 2009 14:20:13 -0700

Hi Steve!! Still looking? You better hurry while the choices are better. It is definitely a great time to buy. History shows that the Hayward real estate market is a solid investment.

Answer by Courtney Johnson

Tue, 23 Jun 2009 20:15:37 -0700

Its a great time to buy lakeshore as I believe you'l get a better price today than you would have a year ago. I caution buyers not to think they will get a "steal" on a lake home but its a better time to get a "deal" than ever. There is an oversupply of lake homes on the market, though many are still overpriced. Listing prices will need to be more aggressive than in the past and homes will truly need to shine to get buyers' attention. Since lake homes in the Hayward area are not a "need" for a buyer and often not a "need to sell" for a seller, prices have remained relatively consistent but I think the supply will lead to some drop in price. I don't believe prices will erode significantly on lake property so I wouldn't hesitate to take a look and find the place that fits your needs. If you find the right lake place, you won't be as concerned about hitting the lowest point of the market. And if you don't find it, you can wait to buy until you do.

Answer by Maket Nashville

Tue, 19 May 2009 16:16:20 -0700

Well, from a Lenders point of view, YES< just like your other two answers! however, there are a couple of things you definitely want to define. What type of loan if any, will you need?? If conventional, how much down do you have etc.... Due to the new appraisal requirements , as well as the guideline changes concerning vacation homes etc...You definintely want to make a decision soon while decent programs still exist, and rates are still REALLY GOOD! Lake homes are unique, as there will always be a need for them! There are only SO MANY lots on a lake in which to build! Limited quantity means good long term value! Now, if you have good credit, and a good size down payment....then it is ALWAYS a good time to buy a lake home! I welcome and & all questions! Take care, Darin

Answer by Trish Needham

Tue, 19 May 2009 09:37:35 -0700

Absolutely, now is a great time to buy! A lot of seller's are more apt to look at less than full price offer's, there is a lot of options for buyer's and if you do take out a loan 'money is cheap'. There is only so much lakeshore in the world so you can't go wrong; add in the years of enjoyment and lake homes are a great investment! If you'd like to chat about the market in Hayward or surrounding areas please feel free to email or call me. Good luck!

Answer by Sallyk

Wed, 13 May 2009 05:47:37 -0700

In a word...yes....most probably....rates, selection, condition and prices than they have been in years...if you give us a call or e-mail, we are happy to recommend a qualified buyers agent in your area...enjoy the summer in your lake property !