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Have we hit the bottom yet?

by Jay Hufnagel
I’m getting more Buyers asking this question, “Have we hit the bottom yet in the housing market”? Personally, within the last three weeks, I’ve seen a tremendous increase in internet activity of potential lake home buyers looking for that “great deal”.
 
Joe O’Kelley, Managing Partner of O’Kelley & Sorohan Attorneys at Law, LLC, spoke today at a Keller Williams Realty award ceremony. Joe stated that March will let us know what 2008 will be like in the housing industry. He also felt that “now’s the time to buy”. Interest rates are going down, the home inventory supply is at 10 months, and home prices may not go much lower. Compared to the rest of the Nation, Atlanta and the Southeast is in great shape. Joe made another interesting comment, “people need to go back to thinking like in the old days where you bought property and held on to it for a while”. Things have changed. Homes aren’t appreciating like they did a few years ago.
 
So, maybe we have hit the bottom. What do you think?
By Jay Hufnagel, Keller Williams Realty Lake and Home Group, 770-757-2799

I'm Taking a Day Off

by Jay Hufnagel
What do Real Estate Agents do when they’re not showing property? Well as you can see, some of us take a Snow Day.
 
Might as well have some fun, don’t you think? Over the last few years, agents have been working 24/7 non-stop. But today, things have changed. Many agents are leaving the Real Estate field because of the housing industry slow down and challenges. Yesterday, at one of my closings, another agent told me that their office had lost over half of their agents over the last few months. I can understand that, but I think those that survive the current market will come out stronger. Since the first of the year, I’ve seen a positive trend of activity. Hopefully with interest rates coming down, lakes filling up with water, and more optimism with the economy, the housing market will improve.
 
In the meantime, maybe we should have a “Hug your Real Estate Agent” day”. Don’t you think?
 
By: Jay Hufnagel, Keller Williams Realty, Lake and Home Group, 770-757-2799

While the Lake is Down...Let's Cleanup the Ground

by Jay Hufnagel
Keep America Beautiful (KAB) of Anderson County is sponsoring a Lake Hartwell shoreline cleanup event in preparation for the 2008 ESPN BASSMasters Classic to be held on the lake, February 22 – 24th. Interested participants are invited to contact the KAB and Anderson County Waste and Environmental Enforcement departments at 864-260-1003, and let them know of your interest.
 
On February 25th they’re also inviting participants to a Volunteer Recognition Luncheon at the Civic Center of Anderson, from 11:30am – 1:30pm.
 
With the lake level down, it’s a wonderful opportunity to clean up the lake, and show all of the fishermen and the ESPN viewers what a beautiful lake we have. I hope to see ya’ll out there.
 

Have you been to the Atlanta Boat Show?

by Jay Hufnagel

 If you haven’t been to the Atlanta Boat Show yet, it’s definitely worth the trip. I went Friday and was impressed by the number of people that were there. Attendees didn’t let lake water levels or the economy stand in their way of viewing the huge display of boats, dock equipment, jet skis, and other water toys. Also, there were various displays from Real Estate, such as Keller Williams Realty (Teresa Smith and the Living on Lake Lanier team), to Insurance, Fishing, Marinas, Resorts, and Sailing Schools. Even the U.S. Army Corps of Engineers and the DNR had booths and were handing out all kinds of goodies.

 
Oh, and don’t forget to take the kids. They have a huge fish tank on display, and you can even try your hand at catching trout out of a small pond set up in the exhibit hall.
 
Can’t make the Atlanta Show? There’s another boat show in Greenville, South Carolina January 24 to the 27th at the Carolina First Center. Go to http://www.upstatescboatshow.com/ for more information.
 
By: Jay Hufnagel, Keller Williams Realty, Lake and Home Group, 770-757-2799

Lake Hartwell and Keowee Waterfront Home and Lot Sales in 2007

by Jay Hufnagel
If you’re like me, seeing rain in the forecast, and hearing it fall on your roof, is much more satisfying these days then a forecast of mild temperatures and sunny skies. Slowly, the lakes are starting to rise, and if we continue to get a little rain each week, docks will start to float again and boating traffic will start to pick up. Since the 1st of the year, I’ve seen stronger interest in buyers looking for lake property. Most are looking for “good deals” and,  I expect that will continue through 2008.  
 
Here are some statistics on Lake Hartwell and Keowee “dockable” waterfront activity for 2007 (source: SC Upstate MLS and does not include FSBO and non SC Upstate MLS listed properties):
 
LAKE HARTWELL
 
Waterfront Homes Sold (excludes Condos & Townhouses) – 164
            Average Days on the Market – 130
            Average List Price - $476,294
            Average Sale Price - $451,538
 
Waterfront Lots Sold – 58 (includes 3 multiple lot sales)
            Average Days on the Market – 139
            Average List Price - $242,381
            Average Sale Price - $221,615
 
LAKE KEOWEE
 
Waterfront Homes Sold (excludes Condos & Townhouses) – 71
            Average Days on the Market – 162
            Average List Price - $891,628
            Average Sale Price - $841,547
 
Waterfront Lots Sold – 96 (includes 1 multiple lot sales)
            Average Days on the Market -  155
            Average List Price - $485,232
            Average Sales Price - $470,029
 
I’d be interested in your comments as to how these statistics compare to what your expectations were and what you would assume they would be.
 
By Jay Hufnagel, Keller Williams Realty, Lake and Home Group, 770-757-2799

Lake Lanier Waterfront Home and Lot sales in 2007

by Jay Hufnagel
Happy New Year! Well, as you can see below, sales activity for Lake Lanier waterfront homes and lots have definitely been affected by the housing industry slow down and our Southeast drought. I expect we’ll see things picking up as the rain comes and the lake level increases. Doesn’t it make you wonder where all that rain water goes when it rains a bunch, but still the lake doesn’t go up?
 
Here’s some statistics on Lake Lanier “dockable” waterfront activity for 2007 (source: FMLS and does not include FSBO and non FMLS listed properties):
 
Waterfront Homes Sold (does not include Condos/Townhouses) – 134
            Average Days on the Market – 105
            Average List Price - $698,213
            Average Sale Price - $636,038
 
Waterfront Lots Sold – 39 (excludes 3 multiple lot sales)
            Average Days on the Market – 129
            Average List Price - $374,417
            Average Sale Price - $363,202
 
Don’t forget the Lake Lanier January Super Shore Sweep on January 5th at 10:00AM. Please meet Lake Lanier Association members at Balus Creek. From there everyone will be carpooled down to Flat Creek to pick up trash bags. Grilled hot dogs will be provided for lunch. If you miss this clean up day, meet on January 19th at 10:00AM at Lanier Islands (free admission) to clean up the Cocktail Cove area. For more information, contact Vicki Barnhorst ( lakeinfo@lakelanier.org ) , Executive Director of The Lake Lanier Association.

Displaying blog entries 1-6 of 6

Contact Information

Lake and Home Group
Keller Williams Realty
4878 Manhattan Dr.
Buford GA 30518
GA: 770-757-2799
SC: 864-287-7530
Fax: 770-504-5509