The Lake Anna Market is moving but not at the pace we would have hoped for, at least according to the national reporting. We have improved once again from last year’s numbers however we have not earned any major bragging rights! In 2016 there was a total of 211 homes sold at the Lake. Currently there has been 107 homes sold since the first of the year with 41 under contract, putting us in front of last year’s numbers. Land sales have increased which is a good indication that we are on the road to recovery, especially exciting, is all the new construction going on at the lake!
The main thing to understand is that the housing market has not rebounded everywhere! I know you hear on the news and read about the increase in housing prices across the US but keep in mind that is mostly coastal areas reporting. Unfortunately they are the ones who gets the headlines and it is very misleading. The main thing to know is that Real Estate is and has always been local so you need a local Realtor to guide you through the buying and selling process. To be fair to the national reporting the home prices did jump 5.6% in 2016. However, when adjusted for inflation the most recent reports shows they were actually 15% lower than previous peaks.
I get asked often when is a good time to buy or sell. Main thing to remember is a good time to buy is when you find your perfect house or property. A good time to sell is when you are ready too! It really is that easy. Most important is to find a local Realtor & Lender that can guide you through the steps. Lenders need to see that you are reliable, so it is wise not to make any huge purchases or move your money around three to six months prior to purchasing.
Location, Location! Before you buy you need to check out all the neighborhoods in the area of interest. Make sure you have an agent that can give you a complete Lake Anna Education – Lake Anna 101! This ensures that you will make a decision that best suits your family wants and desires. Then learn what is going on in each community. Also, don’t hesitate to ask for the communities Association rules and regulations in advance. Most experienced Lake Agents are able to supply this information. This is by far the most important advice I can give any buyer. Once you have found a property your agent can then advise you on what similar homes in the area have sold for recently so you can make a fair and reasonable offer without offending the seller. The process is really not scary especially with a knowledgeable local Agent! Besides, you will have fun in the process exploring Beautiful Lake Anna!
Bottom line is Lake Anna has something to offer everyone! From inexpensive Weekend fishing cabins to high end waterfront homes! Investors will be impressed with Lake Anna’s vibrant Vacation rental market! Memorial Day to Labor Day is generally booked solid! We have also been seeing more families renting for major holidays, like Thanksgiving & Christmas! There are several rental agencies that can handle all your rental needs for owners and vacationers!
So take time to come and check out all that Lake Anna has to offer! It really is a beautiful place!!