Lake Lanier Real Estate Today! A Look At Pathways And Steps On The Government Shoreline Of The Lake!

In Lake Lanier real estate today, I thought that it might be wise to examine one of the most common questions that I am asked as a real estate agent when I am showing properties on Lake Lanier.  Whether it be land, lots or homes, most Lake Lanier real estate backs up to property owned by our federal government and managed by the U.S. Army Corps of Engineers.  It is typical to walk to the back of a given private property and notice boundary markers and survey pins which designate the separation points of privately owned property and government land which is between the private land and the waters of Lake Lanier.  We often casually refer to this government land as "Corps Property", "Corps Of Engineers Land" or "Guvmunt Land"! (-:

Most potential real estate buyers on Lake Lanier will eventually ask what their personal rights are in regard to this property that separates the private land from the water.  Normally, my immediate response to this is NONE!  Well, it's not your land!  But if you have a dock permit that is granted with the property or home that you purchase on Lake Lanier, you will have some ability to access this government land by creating and/or maintaining a foot path from your private property (Lake Home) through the Corps' Property and down to your dock on Lake Lanier.  So, the questions regarding the government land often range in topics from "Can I cut trees?", "Can I clear and undercut?", "Can I mow?", Can I pave a sidewalk?", "Can I clear a path for my car to get to my dock?", "What can I do on their land?", "Do I maintain it?"  The best answer to these and many more questions on this topic can be found in the 2004 Final Lake Lanier Shoreline Mangement Plan.  You'll find so much information and guidance in this plan, that you'll soon learn that you and your neighbors might not be following appropriate guidelines.  For this reason and more, you should read the Plan.  So, our exercise for today is to read this excerp regarding proper guidelines for pathways and steps along Lake Lanier's shoreline, courtesy of the U.S. Army Corps Of Engineers Mobile District.  Please enjoy!

15.3.11 Pathways and Steps

Meandering pedestrian pathways may be created for access to the permitted facilities at no

fee. Pathways will follow a meandering route that conforms to the topography as much as

possible to help prevent erosion, avoid the need for removal of vegetation, and prevent the

construction of bridges or steps. All work will be completed with hand tools only unless

otherwise authorized in writing by the Operations Manager. If surface treatment is required

to prevent erosion or fill depressions, wood chips or on-site forest litter are recommended. If

erosion is evident due to continued foot traffic and water run off, intermittent water breaks

may be necessary.

If slopes prohibit safe access by means of a natural path then steps or a bridge creating the

least environmental impacts may be authorized under permit with a fee. Materials used to

create these structures must be properly treated and environmentally friendly, no wood

treated with arsenic will be authorized. All steps must be constructed of at least eight (8)

inches wide by six (6) inches high material without borders. Every effort should be made to

prevent continuous running steps. Steps may not be elevated nor create a boardwalk. Steps

or landings may not be erected in a manner to create patios. Unless the steepness of the slope

dictates it or handicap needs demand it, steps should be constructed without handrails. All

steps must be constructed at contour or ground level. If backfilling is required, the surface

treatment must be wood chips or similar mulch. Landscape timbers are not authorized for

step construction due to safety considerations.

Footbridges may only be authorized if there are no other alternatives to provide safe access.

Footbridges may not exceed four (4) feet in width. All foot bridges more than four (4) feet

above the surface of the ground must have a handrail. The rails shall be 36-48 inches high

with an intermediate guardrail approximately one-half the distance below the top rail. The

pathway permit does not convey the right to use equipment or construct any other structure

unless specifically authorized.

Pedestrian access lighting may be installed underground following the meandering footpath.

Permit holders are required to use mushroom style lighting, not to exceed a height of two (2)

feet. See Exhibit 3, " Requirements for Installation and Use of Electric Service on

Government Property at Lake Lanier". Existing pathway lighting not meeting this standard

will require replacement upon repair.

Natural pathways are considered unsafe when the terrain is too steep to safely access the

shoreline, thus requiring improved steps. Pathways must remain free of stumps, snags and

other tripping hazards. Steps are considered unsafe and unauthorized when poorly placed or

constructed so that the step is loose; or when materials are defective damaged, or decaying.

Lake Lanier Real Estate, Waterfront Lake Lots, And A Lake Property Sale!

We had another great day in Lake Lanier real estate yesterday, as we closed on a very nice Lake Lanier waterfront lot in Murrayville, Georgia.  This was a great deal for our buyer on a gently sloping lot listed at about .28 acres with a single-slip dock in place.  The original listing date was September 2010, so this lot was on the market for a long time, just like so many other lake lots.  Why such a great deal?  Well, consider the history.  This Lake Lanier lot sold for $160,000 in 2007, and our buyer picked it up as a short sale yesterday for a very cool $62,900!

Full Listing Report & Photos For 7731 Elm Circle, Murrayville, GA.

This Lake Lanier waterfront lot is located at 7731 Elm Circle in Murrayville.  It is a cove lot on the northern end of the Chestatee River in Hall County.  Now, before you rush to quick judgement about the ease of purchasing a Lake Lanier lot at a steal of a price, consider your financing or your ability to buy without financing.  This is one of the main reasons for the pricing.  It is still fairly difficult to obtain financing on raw land and lots.  Unless you are getting a very short term loan from your bank or building immediately on the lot via a construction loan, you'll probably need to pony up the cash!  A HELOC could be an option as well.  Without a doubt, market conditions and sales of Lake Lanier lots are still very much affected by the limitations in available financing for these kinds of properties.



View Larger Map

So with all of that said, now is a great time to buy waterfront lots on Lake Lanier!  The deals are there and it is a buyer's market.  However, just remember to have your financing ready or cash in hand before you start down the road to buy one of these very nice properties.

View Lake Lanier Lots And Land For Sale! 

Lake Lanier Real Estate Today! Lake Lanier Homes For Sale In Buford!

Today in Lake Lanier real estate, we noticed a very tempting lake home purchase opportunity on the south end of the lake.  Our daily searches alerted us to this striking home that has just hit the market and appears to be a very good opportunity to own a luxurious, modern home on the south end of Lake Lanier.  This stunning lake home is located on a gorgeous waterfront lot, with nice privacy, and includes a pool and dock permit.  We're referring to the following new Lake Lanier listing located at 6299 Old Shadburn Ferry Road in Buford.  Special offer guidelines do apply to this foreclosure home, but view the listing links and let us know if you would like to schedule an appointment to see this beautiful Lake Lanier home.

Buford is a great location on Lake Lanier and offers a wonderful historic community with lots of recreation and dining options.  We've posted in the past about Lake Lanier Islands and downtown Buford offering fantastic night life, recreation, etc.  With that in mind, we feel compelled to show you some of the Lake Lanier homes currently for sale in Buford.  Today's search shows 17 Lake Lanier houses for sale in Buford ranging in price from $179,000 to $2,800,000.  With a location close to I-985, McEver Road and Buford Hwy., this area provides quick access to major highways for driving south to Atlanta and the North Atlanta suburbs of Norcross, Duluth, Suwanee and Dunwoody.  Take a look at these links for more information about Buford.

City Of Buford
Buford Local Area Information
Buford Wiki
Buford Map & Photos

GAR Reports Home Prices In Georgia Edge Higher For The Third Month In A Row!

Yesterday, I received this letter from the Georgia Association Of REALTORS regarding the current state of the real estate market in Georgia.  This report is extensive and outlines many factors associated with our state's real estate market.  The data provided is very impressive and informative.  Please read the following opening and follow the link to the full report.

Home Prices in Georgia Edge Higher for the Third Month in a Row
16 Jul 2012 - 
We’re halfway through 2012, and what a year it’s been. Residential real estate has finally taken some meaningful strides toward recovery, and they’ve all been self-powered without divine (or governmental) intervention. Yes, there have been some head fakes in the past, but there's real reason to believe that market turnaround awaits us. Beyond home prices, key metrics to watch include Days on Market, Percent of List Price Received and Months Supply of Inventory. Locally, several indicators showed improvement. Let's see what the rest of our local data has to say.

New Listings in the state of Georgia decreased 16.4 percent to 11,623. Pending Sales were up 21.8 percent to 9,730. Inventory levels shrank 31.5 percent to 48,344 units. Prices moved higher. The Median Sales Price increased 4.5 percent to $114,900. Days on Market was down 15.3 percent to 81 days. The supply-demand balance stabilized as Months Supply of Inventory was down 42.8
percent to 6.6 months.

We seem to be at a critical inflection point in our attempts to spur more hiring. Job growth provides the dual benefit of stimulating new household growth as well as relieving distressed homeowners. There's also the positive feedback loop of housing creating jobs and jobs creating housing. Keeping the affordability picture afloat, the Fed has vowed to keep interest rates around 4.0 percent through mid-2013.

Click here to see the full report for June

Lake Lanier Real Estate's High End

Today in Lake Lanier real estate, we are looking at the high end of the market.  Specifically, this would be Lake Lanier homes in the $3,000,000 price range and higher.  Our FMLS searches show a total of only six homes for sale on Lake Lanier in this price range.  Here's a look at these most expensive lake homes that are currently on the market!

Lake Lanier Homes For Sale $3,000,000 And Higher

See anything in this group that you like?  It's the best of the best.  But what about sales in this price range?  Does anything ever sell that is this pricey on Lake Lanier?  Well, we searched the FMLS all the way back to 2007 before we could find a sale in this price range, so it is certainly not an active category.  Most months lately have been seeing sales in the $500,000 price range which has long been the sweet spot for median home prices on Lanier.

We had a great weekend on the water and hope that everyone is maximizing their enjoyment on the water this summer.  In the areas that I boated this weekend, traffic seemed unusually lite.  The weather most likely played a role as showers were expected both Saturday and Sunday, but actually tended to hold off most of the weekend.  We boated up the Chestatee River area to Thompson Creek and down to the south end of Lanier to areas near Six Mile Creek.  The sporadic cloud cover kept the temps from getting too extreme and  there were ever-present breezes that made it a fantastic boating weekend.  Here's a look at what we saw on Lake Lanier near Hwy. 53 and Boling Bridge.  Some of our prettiest pics in quite some time!

 

Lake Lanier Real Estate Market Report, Lake Level & Weekend Weather!

Today in Lake Lanier real estate, we're taking a look at how July is shaping up for Lake Lanier waterfront home sales.  In going about the process of shaping this outlook, we are looking at two sets of data.  Here are the links to the information that we are evaluating:

Lake Lanier Homes Under Contract

Lake Lanier Home Sales In July 2012 To Date 7/14

Now keep in mind that many of the month's closings will probably occur later in July, typically during the last week.  So far, however, Lake Lanier sales for July 2012 appear to be shaping up pretty well and seem to be in line with what we've been seeing this summer.  If you would like to have one of these market reports emailed to you directly, please let us know and we will send them your way.

On a different note, please notice the poll that we have posted in the right hand side of the blog.  We would like reader's feedback on their favorite Lake Lanier marina.  Can you help us out?  Simply check off your favorite in our poll, and we'll tally the results.

Will you be out on the lake this weekend?  It looks like the rain is dissipating, but there should be sporadic showers in the afternoon.  However, all things considered, we're thrilled to have the rainfall that we had during the week.  Our lake water level actually went up this week and that's great news!  See you at the lake!

Lake Lanier Weather Forecast

Lake Lanier Water Level

Lake Lanier Marinas & Athens Boat Club!

Do you boat on Lake Lanier?  Do you buy gas for your boat on the lake, or do you carry gas to your boat? If you buy gas from one of Lake Lanier's marinas, which is your favorite gas stop and why?  For a moment, forget the marina's food, beverages and other offerings.  Where is your favorite Lake Lanier gas stop that is on the water?

These are just a few questions that I have for those of you considering buying a home on Lake Lanier.  I know, this questioning sounds a bit crazy!  Consider the map of Lake Lanier marinas shown below.  Do you notice anything unusual?  Is anything missing?

One of the things that is often overlooked when doing a Lake Lanier property search is the nearest marina or gas stop location to the property.  Lake Lanier is a big lake, touching on five counties.  As the map shows, most of the marinas and gas stops are on the south end of the lake, south of Browns Bridge Road.  North of Browns Bridge, things become a bit less commercialized.  Marinas, food and gas stops are scarce.  You have a choice.  You can head up the Chattahoochee River towards Gainesville and enjoy Gainesville Marina and the wonderful dining spot at Skogies.  Or, you can head up the Chestatee River towards Dawsonville and enjoy the wonderful gas stop at Athens Boat Club. But you won't find a public restaurant here.  You'll only find the very nicest and kind folks serving up fuel for your boat, treats for your dog and friendly conversation.  I love Athens Boat Club and their great service!  My dog loves them too!  They provide excellent service to us folks that reside near the Chestatee River, Thompson Creek and Nix Bridge.  So, I think they need some publicity.  Which brings me to my next point.  They are not listed on the Google map of marinas on Lake Lanier.  If you're like me and you're a Fan of Athens Boat Club, let us know, join the Athens Boat Club Facebook Page and help get them on the map!

View Lake Lanier Marinas in a larger map

Gainesville GA Homes & Cresswind At Lake Lanier!

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  

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.

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:

Case-Shiller-Index-Atlanta-April-2012-Index-Reported-June-2012

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.

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%

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!