Real Estate Information

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

Good Day and Happy Thanksgiving. What a great start to a beautiful weekend. It rained, and boy do we need it. The lake housing market continues to tighten for sellers on Lake Hartwell. The good news is that buyers are starting to look for great deals on lakefront properties, and mortgage loan interest rates have declined. Hopefully this will continue and drop some more. If you’re considering buying lake property, don’t let this market slip away.

Here’s some recent “waterfront” activity on Lake Hartwell (source: SC Western Upstate MLS and does not include FSBO and non Upstate MLS listings):

Residential Homes Sold – 18

            Average Days on the Market – 173

            Average List Price - $423,577

            Average Sale Price - $409,466

Waterfront Lots Sold – 9

            Average Days on the Market – 138

            Average List Price - $235,744

            Average Sale Price - $220,555

By: Jay Hufnagel, 770-757-2799, just “Say Jay” for Real Estate

Over the last two days I'ved received emails asking if lake property prices are coming down. In my opinion, I feel that, not only are they coming down, but sellers are more willing to negotiate on offers then they have been in the past.

Some buyers are hesitant about visiting properties until the water levels come back up in the Spring, but they may miss out on some great bargains. And, what better time to see what you're really buying, then when the lake level is low?  

I remember back in 2000 and 2001 when the lake levels (Lake Lanier and Lake Hartwell) were low. This was a great time to buy lake property. Many buyers and investors that bought during this period saw their investment double by 2005. It'll be interesting to see if that duplicates itself after the drought eases and the lakes are back to full. What are your thoughts?

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

Please let me know your thoughts on any other websites or sources for good lake information.

By: Jay Hufnagel, Just "Say Jay" 770-757-2799 

Recently I received an email from a potential Lake Hartwell property buyer stating that they received a listing that wasn't quite what they were looking for and didn't understand what "auto notification" was. Here's my response:

Auto Notification is a Multiple Listing Service (MLS) term for providing new listings automatically when they’re entered into the MLS program from members (Real Estate Agents) of the MLS system. When you get a new or changed listing from this service, you’re getting it directly from MLS and receiving it the same time as your Agent.  Some customers/clients feel that their Agent is selecting and sending these listings. That’s not correct. Your Agent lists your search criteria in the MLS system, and the system sends the new listing usually within hours that it’s entered. For new buyers, this is a wonderful service, and most Agents will be more than happy to provide it to you.

Usually I set up the Auto Notification criteria fairly broad so that my customers and clients can get a better feel of the lake and what’s out there. Once we visit a few properties, and they get more familiar with the lake, then I narrow the search and specifically pick out select properties according to what they prefer.

For example, most lake properties are less then ½ acre, but some Lake property buyers want an acre or more. By putting this into the MLS system, the Buyer may not see great properties that normally they’d fall in love with and would give them the privacy that they’re looking for.

Another example:  Some buyers want 4 bedrooms only. In this case, I usually explain that many homes around the lake are listed as 3 bedrooms, but have bonus rooms that also serve as bedrooms. Limiting the search field to 4 bedrooms will eliminate those homes from the search.

Because Auto Notification comes directly from the MLS Service, I ask my customers and clients to have a little patience with what they see, knowing that I may not have previewed the property yet. I’ll be happy to follow up and look at the ones that appear interesting. Those that aren’t what you’re looking for… please forgive me and disregard.

I'd be interested to know your thoughts on this service. Please comment below.

By: Jay Hufnagel ...Just "Say Jay" for Real Estate 770-757-2799