Spring real estate selling season gets underway on Cedar Creek Lake; buyers' interest in area 'perking up'

by David Webb

David Webb is a veteran journalist who has written for the mainstream and alternative media for three decades. He is now a freelancer who lives in the Cedar Creek Lake area. He is a regular contributor to cedarcreeklake.com. E-mail story ideas to davidwaynewebb@yahoo.com.

GUN BARREL CITY -- Rich Damico is a real estate agent for Excite Realty Co. on the shore of Cedar Creek Lake. He has specialized in the sales and purchases of waterfront, off-water, commercial and acreage properties in the area for six years. He focuses on properties in the counties of Henderson, Kaufman and Van Zandt. Damico, a native of Chicago, relocated to the area from Dallas eight years ago.

CedarCreekLake.com: What sort of start is the spring selling season getting off to this year?

Damico: It's here, and things are really perking up. I think we're seeing the results of a pent-up demand on the part of buyers who have been holding off until now.

CCL.com: What do you think is causing the increased interest by buyers in Cedar Creek Lake properties?

Damico: Prices are low and interest rates are low. That makes it a great time to buy real estate. The interest rate is at a historic low of below 4 percent.

CCL.com: After last year's long, hard drought, how is the lake looking?

Damico: The lake level is still 4.3 feet low, but that is a lot better than the 7.5 feet low it was before the rains. That makes the area more attractive to buyers.

CCL.com: How would you describe the category of buyers that you are seeing these days?

Damico: That's hard to say because we are seeing all types of people. There are investors looking to buy property, and there is a combination of all types of financial situations. Some plan to pay cash while others intend to put 20 percent down for conventional loans and 3.5 percent down for FHA loans.

CCL.com: Is the unseasonably beautiful weather helping draw interest in the area?

Damico: I wouldn't say that's the only reason, but it is a factor. More people have been coming down for the weekends. We're also expecting a lot of activity with people coming to the lake for Super Bowl Weekend. There will be lots of football parties. We're expecting a lot of people will be looking at properties on Saturday before the game on Sunday.

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