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Archive for the 'Blue Ridge Georgia Real Estate reVIEWS' Category
Well there is some Good and Bad news for the 3rd Quarter Residential Sales in the Fannin County Real Estate Market. Some Good News, the number of Homes Sold in and around Blue Ridge are up 26% from September a year ago according to the sales data from our Northeast Georgia MLS. Also the number of Homes that have gone Under Contract year over year is up a whopping 62%, a change of 15 more Homes. Another bit of Good News is that our inventory is slowly coming down as well. We have experienced an 11% decrease in the number of Homes For Sale in Blue Ridge, GA. to only 995 on the market compared to 1,118 in September 2008.
Now for the Bad News which actually isn’t all that bad. We continue to fight against the Banks and the troubles that they are causing as well. Home values continue to be driven down mostly due in part to the Short Sales and Foreclosures. I have mixed emotions about that actually. Some of our local Banks are really working hard to involve the local Realtors, while yet others seem to want to do it all on their own. Either way, they didn’t ask to be in this Real Estate Crisis either. Yes we all know they issued a lot of Bad Loans, but if we all would have had a Crystal Ball, I am sure most of us, if not all of us, would be in a different situation. The Median Sales Price of Fannin County Residential Homes is down 15%. That price is $208,000, which is much higher than the neighboring counties such as Union County and Gilmer County. The Average Days on Market is also up 31% to 132 days. This is the average number of days that a Home is on the market before it actually sells. I firmly believe that Pricing is 80% of Marketing these days, and if you are not priced right, and I mean aggressively against the competition, you are likely to see your Days on Market to be even higher than that.
Below you will find detailed Graphs and Charts gathered through our Northeast Georgia MLS. Feel free to Call Me at 706.633.8186 or Contact Me if you have any questions or concerns about anything I have said in this Market Report. If I can assist you with any of your North Georgia Mountain Real Estate needs, I would be grateful for the opportunity to speak with you about that.
Thanks so much for visiting me on “The Porch,” and I hope you come back and visit me again real soon.
Make it a GREAT day!
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While there is some good news with Vacant Lot sales in and around the Blue Ridge area located in Fannin County, there is still good reason to be concerned. Median Sales Price is up 25%, up $8,000 dollars from $32,000. Now it is questionable to me whether or not it is good news that the Supply has dropped 37%. This is obviously not from sales or we would see that in these reports. So where did all of the lots go? Well, they could have been withdrawn from the MLS to simply wait out the market and be offered by the developer, however my fear is that they are probably going into Foreclosure, if not now in the very near future. It is a major concern of myself and that of my associates that if we see a major wave of Foreclosures on these developments, it could yet again be another devastating blow to our North Georgia Real Estate Market.
It seems so dramatic to report that Vacant Lot Sales were down 22%, whereas if I told you that there were only 7 Lot Sales this month compared to 9 that Sold last month it wouldn’t sound near as bad! There were 8 Vacant Lots under contract in the month of July, and that is a decrease of 11% from the previous year. We have seen a significant decrease in the amount of Vacant Lots available on the market. In July of 2008 there were 1,573 Active Listings in Fannin County, in July of 2009 there were only 994. That is a difference of 579 or 37%. What is comforting is that the number of new listings hitting the market is down a whopping 68%. There were only 32 new Vacant Lots that hit the market in Fannin County in July 2009.
The average Days On Market (DOM) has climbed immensely to 344 Days, up 114% and still on the rise. As mentioned earlier with the decrease of Inventory, we have also experienced a decrease in our Month Supply of Inventory (MSI). MSI is down a change of 26%, from 158.6 to 118 months.
So as you can see, we are still experiencing a rough market for Vacant Lot Sales. It is so hard for these developers to hold on during these trying times. The biggest thing that I have experienced in talking with these developers is that they have suffered such significant depreciation in there developments, most more than 50%, that by the time that the market for Vacant Lots starts to come back around, they will have paid more interest than they will ever get out of the proceeds of the sale. That is a tough pill to swallow.
I you have any questions or concerns about this report or would like additional information, please Contact Me, or you can call me at 706.994.8686. I appreciate you taking the time to stop by The Front Porch View.
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It was only a few short weeks ago that I was asked “Do you ever see any Bears?” My answer was simple, “…..not very often.” Boy was I wrong. I have seen more Bear in the North Georgia Mountains this year than I have seen in a lifetime almost.
Just last week I was on my way to a Home Retention Counceling meeting with a client near Helton Creek Falls just past Vogel State Park outside of Blairsville, GA. I had decided to take a short cut through Owl Town and stopped in to preview this listing in Chestnut Mountain and met a new friend right there in the front yard. The neighbor’s were outside next door and didn’t even know the bear was next door being nosey!
A few weeks before that I was showing property with a client and we were looking at this cabin in Big Sky near the Cohutta Wilderness . As we were drving up the mountain we saw a Black Bear take off through the woods that was sitting along the side of the road.
I also had a client that was meeting with Jim the Plumber at his new cabin in Hiawassee, GA . near Lake Chatuge just a couple of weeks ago. As they were discussing the final details of the job just outside the cabin on the drive-way, Jim asked the new owner to turn around slowly to see the Black Bear Cub that was walking down toward them out of the woods. He turned to see that there was not one, but two Bear Cubs. Now you know mama wasn’t too far away!
I came across a great article this morning titled Following In The Footsteps of Bears. Be sure to read it, it has some great tips should you see a Black Bear in the North Georgia Mountains . Please let us know if you have spotted any Black Bear during your visit or stay in the area. I would love to hear about them.
If you have any questions or concerns about any of the Real Estate that you have seen in this article, or any other North Georgia Mountain property, please contact me. I would be grateful for the opportunity to answer any question or obtain any additional information that you may need. If you haven’t visited us here in the mountains, please come see us soon….you will absolutely love it!
Make it a GREAT day!
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Late last year I had the good fortune of meeting Dan Levin and his family from the Orlando Florida area. What a GREAT Family! I got to tell you, we had a blast in both looking for property and negotiating for it. To tell you the truth, I do not know which we had more fun doing.
Dan and his family purchased a Toccoa River Front Home along one of the most highly desired stretches of the River. Their River Home is located just outside of Blue Ridge, GA. in an area known as Fish Trap Trail. Named appropriately because of the 3 natural Indian Fish Traps along the Toccoa River . If you are not familiar with exactly what a Fish Trap is, it is where the Indians would stack the rocks along the river bed to form an arrowhead like shape to trap the fish so that they could spear them or catch the fish in a basket. These Fish Traps are still somewhat used today, except you use a Fly Rod instead of a Spear!
The Toccoa River Cabin is the perfect place for you or your family to come and stay while visiting the North Georgia Mountains. Even if you are not an avid Fly-Fisherman, it is a very warm and inviting Mountain Home. The Levin’s have really done a great job with the decor’ and preparing this River Front Home to accommodate various lifestyles and guests. You will enjoy River Front and Mountain Views and Relaxation! Take a Tour of the Toccoa River Cabin and see for yourself, it is a GREAT place to stay.
So, if you are a Fisherman and looking for a place to stay in Blue Ridge Georgia, you can’t ask for much better than this. Nearby is the infamous Curtis Switch Bridge. Anybody that Fishes knows where Curtis Switch is located. There are so many other Things To Do in and around Blue Ridge, and I am sure there is something for everyone.
Please be sure to check out what Dan, Linda, Alexander and Zachary had to say about me!
If you end up making a GREAT choice and plan your stay at The Toccoa River Cabin, please come back to The Porch and let everyone else know just how wonderful your stay was in the North Georgia Mountains!
Make it an AWESOME day!
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Fannin County experienced a slight increase in Median Sales Price by 1%. The Residential Median Sales Price is $232,500, rise of $1,500 from May of 2008. The number of Cabins Sold in Blue Ridge and surrounding areas had a decrease of 17 units, down 47% from the 37 that were Sold in May of 2008.
On a good note, the number of Homes For Sale in Blue Ridge, GA. is down 5% from this time last year. There are 1007 Homes For Sale, compared to the 1059 that were on the Real Estate Market in May of 2008. The number of New Properties Listed is also down 4%. I have also included a chart showing the Supply and Demand of the Blue Ridge Residential Real Estate Market. The Great News is that the number of Cabins and Homes Under Contract in Fannin County increased 13% to 35 which will make for a very good June when all of these properties close.
The Average Days on Market of Homes Sold in Blue Ridge did not see any change and stayed at 116 Days. The Month’s Supply of Inventory has also decreased 16% to 25.1, down from 30 in May of 2008.
Thank you as always for coming to “The Porch” for your North Georgia Mountain Real Estate Advise. If there is a specific question that you have pertaining to anything you have seen in this Blue Ridge Georgia Real Estate Market Report, or if you have a Real Estate related question or concern you would like for me to address, please Contact Me or call me at 706.994.8686. I would be grateful for the opportunity to assist you with all your North Georgia Mountain Real Estate needs.
Click Here for a in depth and comprehensive May 2009 Union County Real Estate Market Report.
Make it a GREAT weekend!
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As this week’s signal that home buyers are returning to the market, both Existing Home Sales and New Homes Sales posted improvement versus month-prior figures this April.
According to the National Association of REALTORS, the number of Existing Home Sales rose by 130,000 units in April.
New Home Sales rose by a modest 1,000 units in April.
As a twist in the story, however, although sales activity is rising, the available housing inventory is rising faster.
Versus March 2009, there were 300,000 more homes for sale in April — an increase of 9 percent. In addition, the “housing supply” rose to 10.2 months, its highest level since October.
This is good news for home buyers, of course, because home prices are a product of Supply and Demand. Depending on local conditions, buyers may find themselves in a position to demand lower sale prices or additional seller concessions.
The housing market has not fully rebounded but it continues to show signs of strength. With a few more months like March and April, it’s reasonable to assume that home buyers will lose some of their leverage for contract negotiation.
When that happens, expect home prices to rise.
Please come back to “Th Porch” soon for an updated Real Estate Market Report for the North Georgia Mountains. I will be posting a market report for Residential Inventory as well as Residential Sales in Blairsville, Blue Ridge, and the Ellijay areas. In addition to that, I will be posting the same reports for Vacant Lots and Acreage sales in those same areas.
Meanwhile, if I can answer any Real Estate related questions or concerns on Homes For Sale in Blairsville, Ga. or Cabins for Sale in Blue Ridge or Ellijay Georgia, please do not hesitate to call me at 706-994-8686, or simply send me an email at Chad@EmailMyRealtor.com. I look forward to hearing from you real soon.
Make it a GREAT weekend!
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I had the good fortune of meeting Steuart and Jane Dewar about 1 and a half years ago while trying to put a land deal together. I believe Steuart told me at that time, that the Gorilla Haven was the largest personally owned wildlife management area in the United States, and possibly the world. I just can’t remember. The artifacts, photographs and pictures of Gorillas filled their quaint Mountain Home and expressed what a true love both of them have for their Friends Joe and Oliver.
Video Courtesy of Chicago Tribune. Read more about the Gorilla Haven located in Morganton, GA. just a few short miles outside of Blue Ridge, GA.
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The number of homes under contract to sell is rising, another signal that the housing market may be regaining its footing.
As reported by an industry trade group, the Pending Home Sales Index gained 2 percent in February. The report measures MLS-listed homes in “pending” status — sold but not yet closed.
Pending Home Sales is not a perfect statistic, though, by any means.
For one, the Pending Home Sales Index doesn’t account for non-MLS listed homes including For Sale By Owner properties and mass Foreclosure auctions. In certain markets nationwide, these two categories represent a large percentage of the overall transaction volume.
Secondly, Pending Home Sales samples just 20 percent of all MLS-based transactions — hardly a complete listing.
But most importantly, a “pending” home sale is not the same as a closed home sale. A lot of things can go wrong between the time a home goes under contract and the supposed closing date. For example, the home inspection could fail, the contract could fall apart, and/or the buyer’s financing could be denied in underwriting.
All things equal, though, Pending Home Sales is a fair forward-looking indicator for the housing market as a measurement of buy-side demand for homes.
When Pending Home Sales rise, it’s tells us that buyers and sellers are matching up, clearing out market inventory. And actual home sales often follow “pending” ones — 80 percent of Pending Home Sales will close within 60 days.
In the North Georgia Mountain Real Estate Market we have seen a steady increase in Homes For Sale going Under Contract. Take for instance Union County, which is the Blairsville Real Estate Market. In January there were 20 Homes Under Contract, in February 35, and in March there were 40 Homes Under Contract. That is a 100% increase over the 3 month period.
In Fannin County, which is the Blue Ridge Real Estate Market, in January there were 13 Homes Under Contract, February 15, and in March there were 36 Homes Pending or Under Contract! That is an amazing 177% increase.
Now I know we are still looking at much lower numbers than what we were seeing before this housing crisis hit, but it is a positive current outlook. We continue to see positive signs that North Georgia Real Estate and Home Sales are improving. I am not so sure if we are seeing the Bottom, that will take some more time to determine, but I will have a very optimistic look on the months ahead. Typically in years past we experience an increase in North Georgia Home Sales due to the change of Season and the new life that comes with Spring here in the North Georgia Mountains.
If you are looking to Buy or Sell here in the North Georgia Mountains and you are not currently working with a Realtor, I would really appreciate the opportunity to work with you in your search or the sale of your North Georgia Mountain Home or Cabin. My name is Chad Lariscy, Contact Me or call me at 706.633.8186 to set up an appointment. I look forward to meeting you.
Make it a GREAT day!
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Welcome to “The Porch.” Every month I post various reports for those interested in what is going on in the Real Estate world up here in these beautiful Georgia Mountains. These reports include the Ellijay, Georgia area of Gilmer County, Blue Ridge, Georgia and surrounding areas such as Mineral Bluff and Morganton in Fannin County, and also Blairsville, Georgia on over in Union County.
In months past I have kind of lumped all of the counties together so that you can see more easily exactly what is going on in each county and how they compare. Well this month I have compiled the data a little more in detail. I have gone back within our Northeast Georgia MLS and pulled data from there back to May of this year.
If you have any questions or if there is some information that I have not covered in this Georgia Mountain Market Report, please email me at ChadL@KW.com, or you can simply call me at 706.633.8186.
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Come celebrate the art of Wildlife and Adventure in the North Georgia Mountains! The 9th Annual Wildlife & Nature Art Festival and Outdoor Expo is scheduled for September 20 & 21, 2008. The Festival features fine art with a wildlife or nature theme and award-winning artists from across the entire southeast will be exhibiting. So, whether it’s painting, photography, jewelry, sculpture, wood, glass or metal that catches your eye, there is something for every taste.
This year the Expo will showcase the Legendary Okfenokee Joe, S.O.A.R. (Save Our American Raptors), as well as herding dog demonstrations, the Georgia Jr., Duck Stamp exhibit, out fitters, guides, conservation groups, and much, much, more. The evening of September 20th at 6 p.m. Blue Ridge Grass will perform an outdoor concert of bluegrass and country music. These are the sounds of the heritage. These hills and hollers ring with the tunes of our ancestors.
Come spend some time with us in the Beautiful North Georgia Mountains, host of the National Adventure Race. Hike the Appalachian Trail, or the Benton MacKaye Trail, experience Fly Fishing at it’s best in one of our many Trout Streams, ski Stunning Lake Blue Ridge, raft or kayak on the nearby Ocoee River. And for you not-so-adventurous visitors, the town of Blue Ridge is the arts and antiques capitol of North Georgia. You can even embark on a Train Ride along the beautiful Toccoa River.
Bring the family and enjoy the beauty of nature both in the artwork and in the spectacular North Georgia Mountains. We 
guarantee you will be inspired, enlightened and awed. Festival Hours will be 10 a.m. to 6 p.m. on September 20, and 10 a.m. to 5 p.m. on September 21. Blue Ridge is located only 90 north of Atlanta on Hwy 515.
Courtesy of the Blue Ridge Mountain Arts Association.
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