By Ally Morrison
Paige Patterson has been selling houses for nearly 21 years. During her time in the real estate industry, Patterson has sold houses in the Greater Birmingham area and on the water.
Originally from Boaz, Patterson attended the University of Florida, where she obtained her bachelor’s degree in public relations and went on to sell pharmaceuticals with Johnson & Johnson.
According to Patterson, she learned the art of a hard sale and fell in love with the beauty of negotiating during college when she sold more than $200,000 of Cutco knives to pay for her education.
After she realized her passion for selling, Patterson moved to Birmingham, where she would spend 12 years with RealtySouth before moving to the lake with her sons, Barrett and Brice, with the intention of “selling Lake Martin.”
Now an established real estate agent there, Patterson provides insight into lake real estate.
Finding Your Lake Home
“When you’re starting to look for a property on the lake, take everything you’ve ever prioritized when buying in town and throw it out the window,” Patterson said.
She said the top five factors to be conscious of when buying a lakefront property are the amount of waterfront footage, the view, loca- tion of the property, required maintenance and amenities, and the always important price per square foot.
Lake Home Trends
When asked what popular features buyers are looking for in a home, Patterson had two trends she thinks are becoming top selling points.
“Sliding glass walls are everyone’s favorite right now,” Patterson said. “The glass walls go from floor to ceiling, left to right, and you can pull them back to create a whole wall-less room.”
Another trend Patterson has noticed that excites clients are doors leading outside the home in every bedroom.
“Doors outside any and every bedroom are huge,” Patterson said. “Your guests may want to go outside and not have to wake up or disturb the rest of the house.”
Lastly, Patterson explained another fact about properties on Lake Martin.
“Lake Martin takes great pride in the fact that we still have a lot of flat lots,” Patterson said. “A lot of local lakes can’t say that. We can really accommodate both the 2-year-old toddler and the retirees that don’t want to deal with a lot of steps.”
What’s on the Market
Lake Homes Lifestyles Magazine explores all facets of lake life by providing insightful articles for lake homeowners.
According to its website, the lake real estate market is forever changing. In February, CEO Glenn Phillips took to the website to share a video explaining lake real estate trends.
As of May, there were 3,243 listings for homes on Alabama lakes.
Inventory is a major point of concern when it comes to lake real estate. While the demand is slowing slightly, overall demand for lake property continues to be at an all-time high.
According to Phillips, the supply of appropriately priced homes on the market is at an all-time low and will continue to be scarce.
“If you’re buying a lake home,
you need to be able to move quickly when homes show up because there will be competition,” Phillips said.
Because of this, buyers are finding it hard to discover a lake home with the amenities they want, and they are resorting to buying property to build their dream homes.
Lastly, the search for a lake home does not stop at one lake.
“Buyers may have a lake they really have an interest in, but they may have gotten priced out of it,” Phillips said. “So now, they’re looking at nearby lakes that are smaller or lesser-known for a more affordable price.”
Phillips said retirees may care more about being on the water than they do about which lake they’re on.
– From Lake Homes Lifestyles Magazine, lakehomes.com.
