You would have to be living under a rock these afternoons not to guess that the housing market is going crazy.
- This is absolutely a seller’s market, and people are getting premium prices for their homes.
A lot of the times, there are even bidding wars on houses that are no more than lackluster. I always recommend to customers that if they are making an offer on a house, they should absolutely not get into a bidding war with another buyer, no matter what. NBo beach house is worth that. Also, one thing I must recommend is that all customers be sure to get good inspections on the houses. Of certain importance is the Heating and A/C system. When I last sold a house, the heating and cooling barely worked. The beach house was fairly sizable at about 3000 square feet, and it was built in the 1960s. The heating and cooling system was actually put in at that time. The heating was done via a fuel oil furnace. There was a sizable tank underground, and the fuel oil people had to come and fill it up. That was so pricey! The A/C seemed to just be correct electric cooling. That was pretty pricey, too! We only kept the beach house about four years, and by the time we were ready to sell, the Heating and A/C entirely was in drastic need of updating. But we didn’t want to substitute the Heating and A/C, as we just didn’t want to pay the cost. When we called in the realtor to help us sell, she went to the thermostat and turned on the A/C unit. I felt terrible because it wasn’t working terribly well, but her response was, “all it has to do is turn on, and we can say it is working.” That is how I guess that if you are buying a lake beach house and don’t want to have to replace the Heating and A/C system immediately, be sure to get it took care of and do a lot of tests that require both heating and cooling.