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Lake Lanier 2008 Waterfront Real Estate Sales Activity

by Jay Hufnagel
Thank you to all of you that have been praying for rain. As of today, January 7, 2009, Lake Lanier is less then 17 feet below full pool, and it’s expected to improve by at least 2 feet by the weekend. Stacy Shelton, from The Atlanta Journal-Constitution, wrote Tuesday, January 6, 2009, Lake Lanier rises nearly 2 feet since early Tuesday. The article has some great quotes in it from John Feldt (National Weather Service).
 
If you haven’t already signed up to receive email updates from the 1071 Coalition, I strongly urge you to do so. This group is dedicated to driving a coalition of support for a full pool (1071 feet above sea level) and a healthy Lake Lanier.
 
Here are statistics for 2008 “waterfront” Real Estate activity on Lake Lanier. This list does not include condos and townhouses. (Based on information from the First Multiple Listing Service (FMLS) and does not include FSBO and non FMLS listings):
 
                                                                               2008             
 
Homes Sold   -    91                                                                    
            Average Days on the Market                       91                     
            Original Average List Price                      $711,673            
            Average Sale Price                                      628,116            
            Sale vs. List Price                                            88.3%             
 
            Current Active Listings                                   436                
            Current Homes Pending (under contract)      9
 
Waterfront Lots Sold   -  5                     
             Average Days on the Market –                     103                   
            Average List Price –                                  $302,600        
            Average Sale Price -                                     267,430         
            Sale vs. List Price –                                         88.4%              
 
            Current Active Listings -                               289
            Current Lots Pending (under contract) -       1
 
 
If you’d like to receive an actual list of the homes/lots that have sold, please click on the link below or email Jay Hufnagel, Keller Williams Realty, at sayjay@bellsouth.net.
 
Homes Sold
       Buyer Full Page
       CMA Page
Lots Sold
 Buyer Full Page
       CMA Page
The time to buy lake property is now ….”they’re not making any more of it”.   
 
By: Jay Hufnagel, Keller Williams Realty Atlanta Partners, www.SayJayLakeandHome.com , 770-757-2799, just “Say Jay” for Real Estate. Please comment below on what your thoughts are concerning these statistics.
 

Lake Lanier Water Level

by Jay Hufnagel
Are you still concerned about Lake Lanier’s water level?
 
With the rain we’ve had lately many “Stakeholders and Concerned Citizens” have forgotten about the water crisis we face on Lake Lanier. Today there was an interesting article in the AJC by Stacy Shelton (Lanier’s return to full will be a long time coming). In the article she refers to some of the steps taken to reduce the flow out of the lake. 
 
In late February many of us (over 300) emailed the US Army Corps of Engineers about reducing the outflow of water from Lake Lanier into the Chattahoochee River. The Lake Lanier Association and now, the 1071 Coalition, have since been very pro-active in keeping the pressure on the Corps to keep reducing the outflow even more. And, maybe it’s working. Since the first of the year, it appears that the Corps has taken a more pro-active approach in managing the lake. Now’s not the time to let up.
 
Please consider emailing or writing to Governor Sonny Perdue, Senator Saxby Chambliss, saxby_chambliss@chambliss.senate.gov ,  and the US Army Corps of Engineers ( joseph.m.brabham@usace.army.mil ) to voice your continuing support for, in the words of the Lake Lanier Association, “a full & clean Lake Lanier”.
 
If you haven’t already, please visit the 1071 Coalition website and sign up to receive information on what more you can do.
“Nobody’s buying lake property, the lake level is at record lows, the economy is terrible and will get worst, lending guidelines are too tight, we’re not at the bottom yet” …. these, and other statements, we’re hearing everyday. But, as you can see below, not everyone is listening. There are still deals to be had. Buyers are few and far between, but those that are realizing their dream of owning their own “little slice of heaven” are doing so at great prices.
 
Here are statistics of the Second Quarter and Year-to-date “waterfront” activity on Lake Lanier. This list does not include condos and townhouses. (source: FMLS and does not include FSBO and non FMLS listings):
 
                                                                           2nd Quarter         Yr-to-Date
 
Homes Sold                                                              29                       55  
                                        
            Average Days on the Market                         58                    81
            Average List Price                                      $599,170       $666,147  
            Average Sale Price                                       555,434         603,416  
            Sale vs. List Price                                             92.7%              90.5%
 
            Current Active Listings                                               428                
            Current Homes Pending (under contract)                13
 
Waterfront Lots Sold                                                 1                       2
 
            Average Days on the Market –                         24                    101
            Average List Price –                                    $450,000         $350,000
            Average Sale Price -                                      425,000          312,500
            Sale vs. List Price –                                          94.4%              89.3%
 
            Current Active Listings -                                               217
            Current Lots Pending (under contract) -                       0
 
  
 
If you’d like to receive an actual list of the homes/lots that have sold, please email Jay Hufnagel, Keller Williams Realty, Lake and Home Group, at sayjay@bellsouth.net.
 
The time to buy lake property is now ….”they’re not making any more of it”.   
 
By: Jay Hufnagel, 770-757-2799, just “Say Jay” for Real Estate

Lake Lanier Waterfront Home and Lot Sales (5/15/08)

by Jay Hufnagel
Here’s some sale statistics for “dockable” waterfront Homes and Lots on Lake Lanier so far in 2008 (source: FMLS and does not include FSBO and non FMLS listed properties):
 
Waterfront Homes Sold (does not include Condos/Townhouses) – 42
            Average Days on the Market – 100
            Average List Price - $685,751
            Average Sale Price - $609,952
            Sale Price vs. List Price – 88.9%
             Pending Sales - 17
            
 
                        Note: Most expensive Home sold for $1,650,000
                                   Least expensive Home sold for $169,900         
 
Waterfront Lots Sold – 1
            Average Days on the Market – 177
            Average List Price - $260,000
            Average Sale Price - $200,000
            Sale Price vs. List Price – 76.9%
             Pending Sales - 1
 
Please email me at sayjay@bellsouth.net if you would like to see the actual properties that were sold.
 
It’s very apparent that Buyers are still watching the housing market and waiting to see where the bottom is. The good news for Buyers …. the lake level is rising, lake property inventory is climbing, interest rates are still low, and Sellers are starting to realize that if they want to sell then they need to be realistic on price. All we need now is three things ….. some more rain, rain and more rain.
By Jay Hufnagel, Keller Williams Realty, Lake and Home Group, 770-757-2799

How does an inch of rain effect lake levels?

by Jay Hufnagel

I’ve heard in the past that an inch of rain equates to about a foot increase in lake levels. According to recent articles in The Atlanta Journal-Constitution (AJC) and from the National Weather Service’s Southeast River Forecast Center, that is not the case. The AJC stated Sunday that Lake Lanier adds water only when rain is plentiful and steady. For example (currently), one inch of rain water would have no impact on the water level of Lake Lanier. The lake level would continue to fall, but at a lower rate for a couple of days. So much depends on how saturated the soil is and how consistent the rain has fallen. The real change happens when we get at least 4 inches of rain. According to the 11/25/07 AJC article, the lake would rise 1.4 feet over 5 days, then hold steady.

 

To get up to date precipitation information, and how it’s affecting our lakes, go to the National Weather Service’s Southeast River Forecast Center website. Not only does it have current and forecasted moisture statistics, but also you can listen to a Power Point presentation on the Southeast Water Resources Outlook.

By: Jay Hufnagel, 770-757-2799 just "Say Jay" for Lake Real Estate

Displaying blog entries 1-5 of 5

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