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TEN REASONS WHY IT'S A WONDERFUL TIME TO BUY AT LAKE ANNA
1. Selection.selection.selection! Regardless of price range, there are many homes and lots to choose from at Lake Anna. There are single family homes and town homes, $200,000 homes and 2 million dollar homes, big lots, small lots, lots to park your boat on, private side lots to let you fish on that part of the lake. You have many options. When resale inventories are low, buyers are forced to make compromises-not today.
2. No bidding wars -In 2005 bidding wars and escalation clauses where agents were authorized to outbid other offers were the common practice. Agents were literally qued up to show some hot properties. There is no competitive bidding in the buyer's market at Lake Anna today.
3. You can make an offer. -A few years ago when you made an offer at Lake Anna ,the only question was how high above the asking price were you willing to go. Today the sale price vs. the listing price is about 93%.Sellers won't be insulted if you "make them an offer they can't refuse".
4. Patience is tolerated. -In the hot sellers market everything was rushed. You had to place a bid before someone else did. If you left Lake Anna to come back in 2 weeks rarely were the same homes still available. Now you can weight all the pros and cons and take your time to format an offer.
5. Due diligence is welcomed. In this market buyers are encouraged to do inspections. In 2005 many buyers (NOT MINE!) waived these important contingencies in order to gain an advantage.
6. Plenty of new "spec" homes. Buyers had to play games if they wanted a brand new home with lotteries etc. Builders are taking BIG price cuts-in some cases just cutting there loses on new empty homes here at Lake Anna.
7. Repair request are accepted- In the past many sellers would not make repairs identified in the home inspection because they had backup buyers waiting or they perceived their home was going up in value while under contract. Now they will do them all and give a home warranty to boot.
8. Few, if any bad investments - Pricing is below or at accessed value in many cases enabling a buyer to have instant equity. Lake Anna ,especially the waterfront is a wonderful investment for your future.
9. Location, location.location - Today's buyer has more opportunities to buy more home and move closer to or be on the water at Lake Anna than ever before. Many waterfront homes are now priced under $700,000.
10. Real financing is available- Lenders are hungry. Fixed rates are back, special programs are back. The buyers with good credit can almost write their own ticket.
It's a great time to buy Lake Anna Real Estate!