Summer is here, and the Adirondacks are the place to be! It’s great to see so many people enjoying their favorite summertime activities. I, myself, am biking and boating nearly every day and am looking forward to hosting friends and family on Upper Saranac Lake.
Summer is always a busy time in real estate. Lake Placid and its surrounding towns continue to experience high demand due to a dip in available properties. Yet the market is beginning to ease now that prices are stabilizing and inventory is increasing. This welcome uptick in activity means year round residents and second homeowners have much to consider in terms of buying options.
New buying approaches have become the norm: we’ve had buyers make offers with persuasive “love letters” to owners. We’ve had buyers wave all contingencies. We’ve had buyers make offers on multiple properties simultaneously. My hope is that this sense of urgency and heightened anxiety will start to fade as market conditions become more favorable. Certainly, the historically low mortgage rates are good news for everyone.
I am pleased to share a few new listings and selling opportunities with you; two multi-family homes in Lake Placid, a commercial property in Lake Placid, a business in Keene Valley, land in Wilmington, and a luxury home on Lake Champlain. There is something for everyone!
I wish you a wonderful Fourth of July! As always, I am available to discuss your real estate needs, offer advice, and answer any questions you have about buying or selling a property this summer.