Today in Lake Lanier real estate, we are focusing on Gainesville Georgia homes that are near Lake Lanier including a new, thriving active adult community named Cresswind At Lake Lanier. We have updated our website at www.LakeSidneyLanierHomes.com to include preset searches links for both of these home searches. As we outlined in our post a few days ago, many home buyers in our area would like to have a home that is close to Lake Lanier and all of its amenities, but they don't feel the need to pay a premium for a property that is waterfront on the lake. This idea can often afford the buyer a larger more luxurious home as the property value is more aligned with the home than with the lot.
Cresswind At Lake Lanier is one of the newest communities in our area that brings the lake lifestyle to its residents. This Kolter Homes community boasts itself as a premier, gated, active-adult community located in Gainesville, Georgia. There is a marina, a three story grand clubhouse with swim, tennis and fantastic amenities. You'll love the waterfall at the gated entrance and the extensive walking trails within 214 acres of preserved green space! There are many floor plans to choose from, and new homes are currently available. Here are the links to our preset searches:
Gainesville GA Homes Near Lake Lanier - No Dock
Cresswind At Lake Lanier
Thursday, July 12, 2012
Wednesday, July 11, 2012
Lake Lanier Real Estate Owners Should Still Be Aware Of The Case-Shiller Index
Okay, before you start in on me, I understand that all real estate is local and that means that Lake Lanier real estate is not the same as Metro Atlanta real estate. But to say that the two are not somewhat linked would be silly. I believe that the two are linked by proximity, buyer/seller attitudes, primary and secondary homes, affordability, etc. Many if not most of my sales on Lake Lanier over the past eleven years have been to Atlanta residents looking for getaway homes. Many of those buyers eventually sell their Atlanta homes and move to their getaway. By the same token, many also eventually sell their investment at Lake Lanier and return solely to their primary residence in Atlanta.
Because of the links, I would like to share the Case-Shiller Index Report for the Metro Atlanta area as published by Prudential Georgia Realty in our ATLscoop blog. Try to pay attention and not doze off! There is a lot of information in this report that could educate us on why the Lake Lanier real estate market is performing at its current state. If your lake home is currently listed for sale, and you are wondering why it hasn't sold, this report could be of value as it represents the current state of many potential buyers of your lake home, as they reside in Metro Atlanta.
The latest Case-Shiller Index was published on June 26, 2012. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for April 2012. So what does the latest index show and what does that mean for home values in metro Atlanta? Things are improving in our market however two important considerations must be taken into account. First, the Case-Shiller index of home values is very different from average sale prices or median homes prices. The Case-Shiller Index reports on repeat properties sold and other factors which are generally better indicators of home values. Second, this index reflects the average home values for all of Metro Atlanta. Remember, real estate is local and every market is different. There are some local communities that have held their values reasonably well and others that may continue to decline. In fact, some homes entering the market are getting multiple offers and closed prices above list price. Your local Prudential Georgia Realty agent can help you understand the specific metrics in your local market. However, the Case-Shiller Index is a good general indication on what is happening in our market.
Now for the news…. The good news is that the April index for Atlanta shows a 2.35% increase in home values from March 2012. Atlanta’s increase in home values is higher than the national average of 1.3%. These new numbers indicate a firming of the market in a positive direction. The current Case-Shiller index reflects values similar to home values in the spring of 1997. The April index is 84.5, which is up 2.35% from March 2012 and down 17% from April of 2011. Atlanta continues to show the largest drop in 2012 home values for any of the 20 markets tracked by Case-Shiller.
The metro Atlanta real estate market continues to show signs of improvement for sellers. Listing inventory is down 36% from May of 2011. We have seen an extended period of low inventory since last year. Buyer activity is strong. In 2012, Trendgraphix reports closed sales up 15% compared to 2011. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed. For the past three months, RealValuator reports that market sales (resales, new homes) have outpaced bank-owned sales. Your local PGR agent can show you the specific conditions in your market so you can make the best real estate decisions.
Click on the link below to open the Excel spreadsheet that shows the details of the latest index:
The peak of our market was July of 2007 according to the Case-Shiller index. Since July of 2007, our homes values have slipped 38.08%. We are already seeing slight increases over the spring and the real story is if these numbers stand firm after the traditional selling seasons of spring and summer passes. If you average the Case-Shiller Index for the past 12 months, we are down 32.04% from the peak. We believe it is more effective to use the ”average of the past 12 months” or “trailing 12 months” as an indicator instead of reacting to a specific month. View the graph of the latest Case-Shiller results from 2010, 2011 and 2012:
If you look back further at home values (see chart below), you can see that we had a bubble in homes values but they are actually now below the normal trend line.
Recently, we have seen mortgage rates dip back to historic lows. The Fed has extended “Operation Twist” which is a program intended to keep 30-year rates low. But mortgage rates are impacted by more factors than just interest rates. There are major legislative issues and other economic factors that could cause mortgage rates to rise. For example, the proposed legislation for QRM (Qualified Residential Mortgages) will require mortgage companies to hold back 5% in capital reserves for every loan. That is expected to be funded by higher mortgage rates. Right now, there is an incredible window of opportunity to buy the home of your dreams and set a future mortgage rate that we will not likely see again in our lifetimes.
It appears that we may have reached the bottom of the housing market and future demand for housing is strong. We expect to see annual home values slowly increase over time with a few bumps along the way. Prior to the real estate recession, Case-Shiller reports an average annual appreciation of 4%. In 2013 or 2014, we expect to see a seller’s market return with higher than normal appreciation for a few years. In fact, we are already seeing that in some of our local markets right now. Contact us to learn more about future predictions and how that impacts your decisions.
Supply/ Inventory Levels: Most of our markets are showing inventory levels down 25% – 30% from the prior year levels. We expect inventory to remain at very low levels as we begin to move toward a sellers market.
Competition from Short Sales/ Foreclosures: In 2011, short sales and foreclosures were over 60% of the transactions sold. In 2012, this activity is down 50% from last year. For the last three months, we are now seeing resales and new homes outpace the sales of bank-owned properties. We expect to see more shadow inventory coming in late 2012 and early 2013. However, most of this will be concentrated in specific areas.
You and your agent should be carefully watching the trends for short sales and foreclosures. Yes, we will continue to see some ups and downs along the way, but home values will rise again. In a few years, short sales and foreclosures will return to normal levels. The new homes inventory will remain low. That means we will see an undersupply of homes for sale and values will begin to rise. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! Check back for our next posts with the latest facts and insight that can make you money!
Because of the links, I would like to share the Case-Shiller Index Report for the Metro Atlanta area as published by Prudential Georgia Realty in our ATLscoop blog. Try to pay attention and not doze off! There is a lot of information in this report that could educate us on why the Lake Lanier real estate market is performing at its current state. If your lake home is currently listed for sale, and you are wondering why it hasn't sold, this report could be of value as it represents the current state of many potential buyers of your lake home, as they reside in Metro Atlanta.
Case-Shiller Index Reported June 2012
June 26th, 2012
The latest Case-Shiller Index was published on June 26, 2012. As always, the index reports on data 60 days in arrears. Therefore, the index reports Metro Atlanta home values for April 2012. So what does the latest index show and what does that mean for home values in metro Atlanta? Things are improving in our market however two important considerations must be taken into account. First, the Case-Shiller index of home values is very different from average sale prices or median homes prices. The Case-Shiller Index reports on repeat properties sold and other factors which are generally better indicators of home values. Second, this index reflects the average home values for all of Metro Atlanta. Remember, real estate is local and every market is different. There are some local communities that have held their values reasonably well and others that may continue to decline. In fact, some homes entering the market are getting multiple offers and closed prices above list price. Your local Prudential Georgia Realty agent can help you understand the specific metrics in your local market. However, the Case-Shiller Index is a good general indication on what is happening in our market.
Now for the news…. The good news is that the April index for Atlanta shows a 2.35% increase in home values from March 2012. Atlanta’s increase in home values is higher than the national average of 1.3%. These new numbers indicate a firming of the market in a positive direction. The current Case-Shiller index reflects values similar to home values in the spring of 1997. The April index is 84.5, which is up 2.35% from March 2012 and down 17% from April of 2011. Atlanta continues to show the largest drop in 2012 home values for any of the 20 markets tracked by Case-Shiller.
The metro Atlanta real estate market continues to show signs of improvement for sellers. Listing inventory is down 36% from May of 2011. We have seen an extended period of low inventory since last year. Buyer activity is strong. In 2012, Trendgraphix reports closed sales up 15% compared to 2011. At the same time, the pace of pre-foreclosures (notices of default) and foreclosures has slowed. For the past three months, RealValuator reports that market sales (resales, new homes) have outpaced bank-owned sales. Your local PGR agent can show you the specific conditions in your market so you can make the best real estate decisions.
Click on the link below to open the Excel spreadsheet that shows the details of the latest index:
The peak of our market was July of 2007 according to the Case-Shiller index. Since July of 2007, our homes values have slipped 38.08%. We are already seeing slight increases over the spring and the real story is if these numbers stand firm after the traditional selling seasons of spring and summer passes. If you average the Case-Shiller Index for the past 12 months, we are down 32.04% from the peak. We believe it is more effective to use the ”average of the past 12 months” or “trailing 12 months” as an indicator instead of reacting to a specific month. View the graph of the latest Case-Shiller results from 2010, 2011 and 2012:
If you look back further at home values (see chart below), you can see that we had a bubble in homes values but they are actually now below the normal trend line.
It appears that we may have reached the bottom of the housing market and future demand for housing is strong. We expect to see annual home values slowly increase over time with a few bumps along the way. Prior to the real estate recession, Case-Shiller reports an average annual appreciation of 4%. In 2013 or 2014, we expect to see a seller’s market return with higher than normal appreciation for a few years. In fact, we are already seeing that in some of our local markets right now. Contact us to learn more about future predictions and how that impacts your decisions.
If you look at the average annual Case-Shiller index for each year, here is how homes purchased in recent years would compare to the current index:
Homes Bought in 2000 – Loss of 18.15%
Homes Bought in 2001 – Loss of 22.49%
Homes Bought in 2002 – Loss of 25.36%
Homes Bought in 2003 – Loss of 27.71%
Homes Bought in 2004 – Loss of 30.17%
Homes Bought in 2005 – Loss of 33.52%
Homes Bought in 2006 – Loss of 36.56%
Homes Bought in 2007 – Loss of 36.97%
Homes Bought in 2008 – Loss of 31.10%
Homes Bought in 2009 – Loss of 22.05%
Homes Bought in 2010 – Loss of 20.11%
Homes Bought in 2011 – Loss of 14.09%
Homes Bought in 2001 – Loss of 22.49%
Homes Bought in 2002 – Loss of 25.36%
Homes Bought in 2003 – Loss of 27.71%
Homes Bought in 2004 – Loss of 30.17%
Homes Bought in 2005 – Loss of 33.52%
Homes Bought in 2006 – Loss of 36.56%
Homes Bought in 2007 – Loss of 36.97%
Homes Bought in 2008 – Loss of 31.10%
Homes Bought in 2009 – Loss of 22.05%
Homes Bought in 2010 – Loss of 20.11%
Homes Bought in 2011 – Loss of 14.09%
Yes, we are slowly climbing our way out of this unprecedented housing crisis – but we are not there yet. So where will home values go from here? The key factors that will impact our home values include the following:
Demand From Buyers: We finished 2011 with over 70,000 homes purchased – a 20% increase from 2010. The activity is very strong so far in 2012 with closings up 15% from 2011.
Mortgage Rates/ Credit Availability: Average mortgage rates in the past 50 years were 8%. We expect to see historically low mortgage rates this summer and expect to see rates start rising during the 2nd half of 2012 and into 2013. Freddie Mac predicts mortgage rates of over 5% next year. In 3-5 years, we expect to see rates in the 6-8% range.Supply/ Inventory Levels: Most of our markets are showing inventory levels down 25% – 30% from the prior year levels. We expect inventory to remain at very low levels as we begin to move toward a sellers market.
Competition from Short Sales/ Foreclosures: In 2011, short sales and foreclosures were over 60% of the transactions sold. In 2012, this activity is down 50% from last year. For the last three months, we are now seeing resales and new homes outpace the sales of bank-owned properties. We expect to see more shadow inventory coming in late 2012 and early 2013. However, most of this will be concentrated in specific areas.
You and your agent should be carefully watching the trends for short sales and foreclosures. Yes, we will continue to see some ups and downs along the way, but home values will rise again. In a few years, short sales and foreclosures will return to normal levels. The new homes inventory will remain low. That means we will see an undersupply of homes for sale and values will begin to rise. In 5 or 10 years, many will look back and regret not buying their dream home when they had the chance! Check back for our next posts with the latest facts and insight that can make you money!
Lake Lanier Dock Companies
Wow! Just this past weekend, I was out at my dock on Lake Lanier wondering how in the world we would manage to keep moving the dock with the lake level doing its usual summer drop. And it is dropping. We are now in the range on 1063.46. I hate to bring up lake water levels here on Lanier, however it is just a fact of our recent weather patterns and Georgia's lack of rain. No need to belabor the point or bring up old grudges. Anyway, no sooner than I started thinking of needing the dock repositioned, Marine Specialties arrived Monday morning to do the job! They are absolutely fantastic at monitoring the lake level and repositioning my dock appropriately! They arrive when needed, almost as if there is a mind meld between my dock position and their dock move guys. I signed on to their excellent dock move program about a year ago, and life is now much easier with their help. They monitor my dock, reposition if needed, oversee the condition of the dock, and alert me if anything is needed. So, this is just a shout out to Marine Specialties and their dock move program. Job well done! Thank you for your service!
Tuesday, July 10, 2012
Lake Lanier Real Estate Today!
Today in Lake Lanier real estate, we are looking at market statistics and inventory of Lake Lanier homes. As of yesterday morning, our searches showed 329 homes for sale on Lake Lanier with a dock or dock permit in place. Of these homes, we calculated the median price at $531,400. We also took a look at homes that were under contract and were able to identify 52 lake homes presently under contract. These are pretty decent numbers. Again, we are reminded of the 2011 market when we look at the number of homes that have sold. The difference now, however, seems to be that our inventory looks to be lower and prices are higher. All of this would seem to point to an uptrend as we have discussed in earlier posts.
With Lake Lanier home prices appearing to be heading up, we thought that we would take a look at a potential solution for many Lake Lanier buyers who might not want to spend the extra money for a true Lake Lanier waterfront property with a dock. Prices can vary widely for Lake Lanier waterfront homes that have a private dock compared to what we call "near lake" homes which have close proximity to Lake Lanier and its parks, boat launches and amenities, but do not have a private dock. Many folks often want to be close to these amenities, but want to be spared the price premium of being waterfront. In fact, this idea can often benefit the buyer who is looking for more of the property value to be in the home as opposed to a waterfront lot. We understand! So, with that goal in mind, we've created a new search page on our website. You'll find it at the following link:
Cumming Homes Near Lake Lanier - No Dock
Please check out this new search page and let us know your thoughts. The page is only a search related to the Cumming area, but we do plan to add the other Lake Lanier city areas as well!
With Lake Lanier home prices appearing to be heading up, we thought that we would take a look at a potential solution for many Lake Lanier buyers who might not want to spend the extra money for a true Lake Lanier waterfront property with a dock. Prices can vary widely for Lake Lanier waterfront homes that have a private dock compared to what we call "near lake" homes which have close proximity to Lake Lanier and its parks, boat launches and amenities, but do not have a private dock. Many folks often want to be close to these amenities, but want to be spared the price premium of being waterfront. In fact, this idea can often benefit the buyer who is looking for more of the property value to be in the home as opposed to a waterfront lot. We understand! So, with that goal in mind, we've created a new search page on our website. You'll find it at the following link:
Cumming Homes Near Lake Lanier - No Dock
Please check out this new search page and let us know your thoughts. The page is only a search related to the Cumming area, but we do plan to add the other Lake Lanier city areas as well!
Sunday, July 08, 2012
Harbour Point Yacht Club Lake Lanier Photos
As promised in yesterday's post on Harbour Point Yacht Club, we have more photos of the community as seen from the water of Lake Lanier. It was a really hot, humid day! You can see the haze in most of the photos. However, these pictures provide a pretty good feel of the Lake Lanier shoreline as it meanders around the neighborhood. We've created a slide show of the photos for easier viewing. Enjoy the pics!
Saturday, July 07, 2012
Lake Lanier Real Estate Today! Harbour Point Yacht Club!
Today's focus on Lake Lanier real estate centers around the luxurious, resort community of Harbour Point Yacht Club on Lake Lanier. This gorgeous community is one of the finest available on the lake. With gated privacy, long distance lake views, a knockout clubhouse, tennis courts and fabulous pool, it's easy to see why Harbour Point has been such a tremendous hit for years.
This morning, we headed out by water to take a few pics of Harbour Point, as viewed from the water. There are numerous, multi-slip docks and a centralized marina with a golf cart path near the shoreline. As a matter of fact, golf carts are a common mode of transportation in the community. Located along the Chestatee River just north of Boling Bridge, this community seems almost mountainous from the water. Here's the Google Map location of Harbour Point.
View Larger Map
There are plenty of homes for sale right now in Harbour Point Yacht Club! Just follow this link to our LakeSidneyLanierHomes.com site for details. Current home prices as of this writing range from $349,000 to over $2.6 million! Please contact us for a community tour of Harbour Point or to see any of the homes currently available for sale. Here are a few of our photos from today, with many more coming tomorrow!
This morning, we headed out by water to take a few pics of Harbour Point, as viewed from the water. There are numerous, multi-slip docks and a centralized marina with a golf cart path near the shoreline. As a matter of fact, golf carts are a common mode of transportation in the community. Located along the Chestatee River just north of Boling Bridge, this community seems almost mountainous from the water. Here's the Google Map location of Harbour Point.
View Larger Map
There are plenty of homes for sale right now in Harbour Point Yacht Club! Just follow this link to our LakeSidneyLanierHomes.com site for details. Current home prices as of this writing range from $349,000 to over $2.6 million! Please contact us for a community tour of Harbour Point or to see any of the homes currently available for sale. Here are a few of our photos from today, with many more coming tomorrow!
Thursday, July 05, 2012
Lake Lanier Real Estate Today!
Yesterday was a memorable Independence Day at Lake Lanier and the surrounding areas. We noticed quite a bit of boat traffic and lots of folks out enjoying the water. The Forsyth Herald has posted 93 photos of the Cumming Steam Engine Parade on its Facebook Page. If you've never seen this event, it is one of the most enjoyable of the year for Cumming, and by the look of the photos, it was a memorable event this year as well.
Today, we're keeping an eye on final real estate sales data for the month of June on Lake Lanier. I believe the final numbers will show a steady trend of gradual growth for home sales. Here's a peek at what the numbers look like today. It looks like about 20 homes sold, with the average sales price coming in at around $536,208. That's a similar number of home sales to last month, and yet another month with average pricing above $500,000. Actually, our numbers show this to be the fifth month of 2012 where Lake Lanier home sales prices appear to be holding in the $500,000 range! If you have questions about Lake Lanier real estate, or if you would like to find out your home's value in today's market, please contact us for your free market analysis!
Today, we're keeping an eye on final real estate sales data for the month of June on Lake Lanier. I believe the final numbers will show a steady trend of gradual growth for home sales. Here's a peek at what the numbers look like today. It looks like about 20 homes sold, with the average sales price coming in at around $536,208. That's a similar number of home sales to last month, and yet another month with average pricing above $500,000. Actually, our numbers show this to be the fifth month of 2012 where Lake Lanier home sales prices appear to be holding in the $500,000 range! If you have questions about Lake Lanier real estate, or if you would like to find out your home's value in today's market, please contact us for your free market analysis!
Uncle Sam Wants You! Happy 4th Of July Lake Lanier!
Well, this video tops them all! Uncle Sam Wants You! Courtesy of Remedy Films and the guys at SMG Wake! This Lake Lanier video Rocks with fun and wishes for a Happy July 4th! Thanks for sharing!
Uncle Sam Wants You from Remedy Films on Vimeo.
Uncle Sam Wants You from Remedy Films on Vimeo.
Wednesday, July 04, 2012
Lake Lanier Real Estate Today & Lake Lanier Photos!
I just came across this very interesting analysis. The cost of owning a home (Last 20 Years). This is some very interesting and revealing stuff! Absolutely amazing to see the reduction in mortgage costs.
We're just catching up from last weekend, and I wanted to post some of the Lake Lanier photos from Sunday. These photos were taken around the Chestatee River area near Dawsonville. Some of this area has some very steep elevations and can provide extraordinary long distant views of Lake Lanier and the North Georgia mountains. The weather was very hot, and it was difficult to stop the boat and the breeze. We managed to take a few pics. However, I hope to get more today and the rest of the week. Stay tuned for more as we enjoy the July 4th Holiday on Lake Lanier!
We're just catching up from last weekend, and I wanted to post some of the Lake Lanier photos from Sunday. These photos were taken around the Chestatee River area near Dawsonville. Some of this area has some very steep elevations and can provide extraordinary long distant views of Lake Lanier and the North Georgia mountains. The weather was very hot, and it was difficult to stop the boat and the breeze. We managed to take a few pics. However, I hope to get more today and the rest of the week. Stay tuned for more as we enjoy the July 4th Holiday on Lake Lanier!
Monday, July 02, 2012
Lake Lanier Real Estate Today!
Today, a number of things crossed my desk, sparking an interest in writing a few words about each. The first of these items has to do with Gillsville. That's right, Gillsville! Not Gainesville, but Gillsville. This is a small community close to I-985 and just east of the more famous Gainesville.
View Larger Map
So, what's in Gillsville? Well, from what I can tell, some very value priced real estate! Take a look at some of these Gillsville homes and their prices!
4627 Turning Leaf Drive
4765 Turning Leaf Drive
4353 Pond Fork Way
These are just a few of the value priced homes for sale in Gillsville. There are plenty of others. And while Gillsville isn't on Lake Lanier, it's pretty darn close.
Moving on to item two, Appen news is reporting that a new medical center is in the works across the street from Northside Hospital Forsyth! That's great news for commercial real estate in Cumming, and great news for the residents of Cumming. I'm a big fan of Northside Forsyth Hospital, and the idea of a continuation of this growth and support is great news. Here's the link to the full news story!
And finally, the third item on our list is in regard to everyone's interest in 4th of July fireworks and festivities. I have not been able to confirm a show at Athens Boat Club or Marina Bay. However, here are a couple of sure bets for finding upcoming festivities and fireworks dispalys!
City Of Cumming July
July 3: Celebration Festivities 6:00-11:00pm, Fireworks 9:30pm contact Fairgrounds @ 770-781-3491
2012Info
July 4: 55th Annual Steam Engine Parade @ 10:00 a.m. - contact Cindy Hansard @ 770-887-0516
4th of July @ Lake Lanier Islands from Remedy Films on Vimeo.
If you're wondering what you'll find at Lake Lanier Islands and Sunset Cove on the 4th of July, check out the excellent time lapse video above. It's gonna be a hot one for sure! See you at the lake!
View Larger Map
So, what's in Gillsville? Well, from what I can tell, some very value priced real estate! Take a look at some of these Gillsville homes and their prices!
4627 Turning Leaf Drive
4765 Turning Leaf Drive
4353 Pond Fork Way
These are just a few of the value priced homes for sale in Gillsville. There are plenty of others. And while Gillsville isn't on Lake Lanier, it's pretty darn close.
Moving on to item two, Appen news is reporting that a new medical center is in the works across the street from Northside Hospital Forsyth! That's great news for commercial real estate in Cumming, and great news for the residents of Cumming. I'm a big fan of Northside Forsyth Hospital, and the idea of a continuation of this growth and support is great news. Here's the link to the full news story!
And finally, the third item on our list is in regard to everyone's interest in 4th of July fireworks and festivities. I have not been able to confirm a show at Athens Boat Club or Marina Bay. However, here are a couple of sure bets for finding upcoming festivities and fireworks dispalys!
City Of Cumming July
July 3: Celebration Festivities 6:00-11:00pm, Fireworks 9:30pm contact Fairgrounds @ 770-781-3491
2012Info
July 4: 55th Annual Steam Engine Parade @ 10:00 a.m. - contact Cindy Hansard @ 770-887-0516
4th of July @ Lake Lanier Islands from Remedy Films on Vimeo.
If you're wondering what you'll find at Lake Lanier Islands and Sunset Cove on the 4th of July, check out the excellent time lapse video above. It's gonna be a hot one for sure! See you at the lake!
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