“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