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Archive for the 'Blairsville Georgia Real Estate reVIEWS' Category
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Where’s The Bottom?
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Median Sales Prices for Homes Sold in Blairsville was down 23% from April 2009, and it was also down 9% from March of this year. The Median Price of Homes For Sale in Blairsville, GA. is also down 5% , from $209,000 to $199,000.
Sales were down in April from 31 in March, to only 18 in April. That is a change of 42%. Of those 18 Homes Sold in Blairsville, 39% of them were Foreclosures. There were 21 Homes Sold in Union County in April 2009. Our Northeast Georgia MLS system is not set-up to accurately report the number of Short Sales that occurred within those sales.
There is Good News for May however. The number of Pending Sales in Union County was up 45% in April. These are properties that are currently under contract but have not closed. Typically, these properties close between 30 – 45 days. Looking back on Pending Sales in March, there were also 32 Homes Under Contract in Blairsville as in April. That means that either half of those deals fell through, or it is indeed taking a little longer with the New Changes to the Real Estate Settlement Procedures Act (RESPA) to close the transaction.
The number of New Properties For Sale in Blairsville climbed a little in March, but fell again in April. Overall, our inventory is slowly coming down bringing back into align the law of economics…Supply and Demand. We have gone from 860 Homes for Sale in Blairsville in April of 2009, to 711 available on the market in April of 2010. That is a change of 17% year over year.
The Average Days on Market (DOM) spiked 51% in the month of April to 170 days, up from 112. However with inventory coming down, and sales holding somewhat with a very slow and steady climb, our Absorption Rate is coming down. Our Month Supply of Inventory (MSI) is down 44%.
Should you have any questions or concerns with anything that you see in this report, please Contact Me. You may also call me at 706.994.8686, I will be more than happy to answer any question or concern that you may have. If I can assist you or anyone you may know that is looking to purchase a Home For Sale in Blairsville, GA., or anywhere here in the North Georgia Mountains, I would be grateful for the opportunity.
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Fox Lake is an absolute Beautiful North Georgia Mountain Community with incredible mountain vistas, rolling hills and pastures, gentle wooded terrains, and it’s very own private lake…Fox Lake.
Fox Lake is located just north of Blairsville in the North Georgia Mountains. Blairsville is the county seat of Union County. Enjoy a lifestyle unique to the Mountains where everyone knows you by name! Mountain Festivals and Community Events will keep you on your toes throughout the year. Play Golf at Old Union just across the street, or take a very short drive to Butternut Creek in downtown Blairsville. Do you like to Fish? Lake Nottely is only minutes away and is known for great Fishing and all sorts of Boating Recreation.
Fox Lake is an upscale Mountain Home Community with Protective Covenants and Restrictions. An Architectural Review Committee will approve any plans before construction can begin to uphold the integrity of the development. All utilities are underground, and there is paved access throughout the community. Enjoy a Pavilion and Clubhouse on the common grounds alongside beautiful Fox Lake.
Currently there are 2 Homes For Sale and approximately 37 Vacant Lots For Sale within Fox Lake. Should you have any questions or if you would like any additional information that I have not provided here, please Contact Me, or give me a call at 706.994.8686. I would appreciate the opportunity to earn your business and assist you with all of your North Georgia Mountain Real Estate needs.
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There is a fascinating community located just off of The Appalachian Highway in Blairsville, GA. The Summit is comprised of beautiful Traditional Homes more conducive to full time residents of Union County. The Summit has much to offer, convenience to 515, the new Wal-Mart, and of course downtown Blairsville. This all paved community boasts breathtaking views of the Mountains in North Carolina, Tennessee. In addition to Mountain Views in North Georgia, The Summit enjoys incredible views of Lake Nottely, from canal lake all the way to the dam!
Currently within The Summit, there are 3 Homes For Sale and 10 Vacant Lots For Sale. I have also attached a copy of the Plat for you to review. Of the Restrictions within the community, I would like to point out just a few. Before you can begin any construction on a home within The Summit, you must submit your plans to the Architectural Review Board to approve the overall aesthetics of the home. The homes most contain no less than 1800 sq.ft. of heated living space, excluding any carports, garage, or basement. If the plans call for a second level, then a minimum of 1500 sq.ft. must be on the main level. All building exteriors must be completely covered with stone, brick, stucco, wood, or wood like materials. Please note that wood must be painted in Earth Tone colors. The last thing that does come up quite regularly, is the roof pitch must be no less than an 8/12 pitch excluding porches. Please consult with your Real Estate Agent for a complete list of all the Restrictions before you purchase your home or vacant lot within The Summit.
If you are not currently working with a Realtor(R), I would be grateful for the opportunity to earn your business. Please Contact Me or simply give me a call at 706.994.8686 if you have any questions or concerns on The Summit, or any other property or community located within the North Georgia Mountain Real Estate Market.
Make it a GREAT day!
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A great overlooked community near Blairsville in the North Georgia Mountains is Arden Acres. Arden Acres is located conveniently between Blairsville and Blue Ridge, GA. less than a mile off of 515 the Appalachian Highway. Once an old Union County family farm, Arden Acres enjoys beautiful Mountain and Pasture Views surrounded by aged old Hardwood Trees, painting an absolute gorgeous Mountain Portrait.
Currently there are many Vacant Lots For Sale within Arden Acres. At this time, there are not any Residential Listings within the development. There are a few Vacant Lots that are being offered as a re-sale. One of the most important restrictions that I should point out to you is that the minimum square footage for a home within Arden Acres is 1900 sq.ft. total heated space less patios, carport, basement, and garage. In addition to that, 1700 sq.ft. has to be above ground. Other covenants and restrictions are some what common for our area, items such as no mobile homes, no businesses, no commercial styled signage, and many other items that need to be closely looked at.
If you have any questions or concerns about Arden Acres in Blairsville Georgia, please Contact Me, or give me a call at 706-994-8686. I would be grateful for the opportunity to answer any questions or concerns that you may have, as well as offer any additional information that might be made available to me.
Make it a GREAT day!
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If there is any good news at all concerning the Union County Lots and Acreage Real Estate Market, it is that inventory is down. The number of new properties listed by month is down a staggering 90%, a change of 192 fewer listings from this time last year. The total number of Properties For Sale in Blairsville is down 12%, a change of 219.
If that wasn’t enough good news, then how about the fact that the Median Sold Price by month was up as well, 16% with an average increase of $4,500. Not much, not near enough, but none the less a positive increase. The number of units sold however was down 38%, a decrease of 5 from February of last year. Also, the number of units that went under contract was down 29%, but only a decrease of 2 properties.
The average Days On Market (DOM) continues to increase, up 17% to 240 days. That also causes the Absorption Rate to increase as well. The average Month Supply of Inventory is up 21% to an incredible 299 months supply of Vacant Lots For Sale in Blairsville, GA. Let me do the math for you. That means that at current market conditions, and taking into consideration that we do not have any additional lots enter the Union County Real Estate Market, it would take almost 25 years to deplete our inventory. Wow! I have a funny feeling that these Bank Closures might cause this time frame to speed up just a little. What do you think?
Other Related Articles You May Find Of Interest:
March 2010 Union County Residential Real Estate Market Report
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As you can see from the above report, the Median Sales Price for Homes Sold in Blairsville, GA. continues to fall. There was a change of $21,525, down 14% from February of 2009. This is due mostly in part to the Short Sales and Foreclosures that continue to plague both our Residential Market, and even more so our Vacant Lots and Acreage Market. I will be sharing that report in a later post.
The good news is because of the amount of Short Sales and Foreclosures, the number of units SOLD is up 18%. Only a change of 3, but 18% sounds so much better. There was no change this month over a year ago for number of properties that went under contract. The number of homes under contract year over year in February was 20.
The number of new homes being listed in Union County is down 31%. We had 27 fewer residential listings hit the market in Blairsville Georgia in February 2010 over last year. This is mainly due in part to New Construction coming to a near halt. Along with number of new listings going down, the total number of Properties For Sale in Blairsville was down 14% as well.
Our average Days On Market (DOM) for Homes Listed In Blairsville was up 32%, an added 47 days from the previous 149 from a year ago to a total of 196 average days on market. However with the drop in Inventory and a slight increase in Demand, our Month Supply of Inventory, better known as our Absorption Rate is down 14% to roughly 31 months.
If you have any questions or concerns from this North Georgia Real Estate Market Report, please Contact Me, or simply pick up the phone and give me a call at 706.994.8686. I appreciate you taking a moment to read this report, and please come back up on “The Porch” each and every time that you have the opportunity. You are always welcome here.
Make it a Great Day!
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As you can imagine, 2009 presented many obstacles for those of us in the Real Estate and Mortgage Industry. It was a tough and challenging year no doubt, but presented some hope for the future. Although 2010 has not started with record breaking numbers, many are still predicting that this could be the year we finally see “The Bottom.”
My broker Robert Rogers, really does a great job leading our agents and guiding us to success. He is a numbers guy, and he stays on top of the market and keeps all of us at Blairsville Realty informed as to exactly what is going on in the Real Estate Market in the Blairsville, GA., and all of the North Georgia Mountains.
I too wanted to congratulate my associates at Blairsville Realty for being #1 in number of units SOLD in all of the Northeast Georgia Board of Realtors(R) MLS, and #1 in number of units SOLD and Sales Volume in Union County. I am very fortunate and proud to work with such a great group of professionals, but more importantly friends that I consider to be family.
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