Archive for the 'North Georgia Market reVIEWS' Category
North Georgia Mountain Real Estate March 2008 Market Report
April 16th, 2008Categories: North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
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February 2008 North Georgia Mountain Real Estate Market Report
March 3rd, 2008Categories: North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
Gilmer County had a substantial difference of volume over Fannin and Union Counties mostly due in part to a large parcel of land that sold for $2.2 Million. Read the rest of this entry »
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January 2008 North Georgia Mountain Real Estate Market Report
February 3rd, 2008Categories: North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
It is so hard for me to believe that another month has come and gone. I guess all that stuff I used to hear from my Mom about how time really flies by as you get older really is true. I want to say it is because I am always having fun!
With another month here, it is time for my monthly North Georgia Real Estate Market Report. I gather all of this information that is made available to me through our Northeast Georgia Board of Realtors MLS services. This information is compiled on the first day of each month from the data of the previous month. This information is deemed reliable, however it is not guaranteed.
Please be sure to look over the report, I think you will find it very informative. If however you find that I have left out any information, or you would like to make a suggestion, please contact me from the information found at the conclusion of this article.
The following graph shows exactly where we are with Active listings here in the North Georgia Mountains. There was not much variation from the number of listings we found in December of 2007.
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December 2007 North Georgia Mountain Real Estate Market Report
January 10th, 2008Categories: North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
The number of ACTIVE listings in the North Georgia Mountain Real Estate Market have actually seen a slight decrease in number over what the market held in November. This is due to a small increase in the number of SOLD properties in December over the previous month. Also, there have been a lot of folks that have chose to pull their properties off of the market until we see a shift back to a Sellers Market. Read the rest of this entry »
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United Community Banks Announces Update On Credit Environment and 2007 Earnings
December 27th, 2007Categories: Blairsville Georgia Real Estate reVIEWS, North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
I found this to be an interesting article based upon an announcement pertaining to the housing industry and how it has affected this large community bank based in Blairsville Georgia right here in the North Georgia Mountains. You can find the article in its entirity here along with other related articles concerning the North Georgia Real Estate Market and surrounding states that United Community Banks are located within.
BLAIRSVILLE, GA, Dec 27, 2007 (MARKET WIRE via COMTEX) — United Community Banks, Inc. (NASDAQ: UCBI: 15.26, -2.47, -13.93%) today announced an updated outlook for credit and earnings for the fourth quarter of 2007. Continued deterioration in the housing and construction markets has placed negative pressure on certain of United’s key credit indicators, requiring an increase to the provision for loan losses — including a $3 million, or 4 cents per-share, special fraud-related provision for the Spruce Pine development — and a charge for other real estate expense. United now expects fourth quarter operating earnings per share of 12 to 14 cents and GAAP earnings per share of 8 to 10 cents, below previously issued guidance.
“Based on our extensive and regular review of loans, the fourth quarter will reflect a higher level of negative credit migration within our risk grades,” stated Jimmy Tallent, president and chief executive officer of United. “As we aggressively move problem loans and assets off our balance sheet, we expect a higher level of loan charge-offs than discussed in our third quarter conference call and a further write-down of other real estate assets. We anticipate fourth quarter loan charge-offs of approximately $13 million and write-downs of other real estate assets of $3 million. In addition, we charged-off $18 million of loans related to the Spruce Pine development in North Carolina. We made a special $15 million fraud-related provision for loan losses in the second quarter of 2007 for the Spruce Pine loans and will provide an additional $3 million fraud-related provision in the fourth quarter. We expect the aggregate fourth quarter provision for loan losses to be $29.5 million.”
Tallent continued, “Again, we made the strategic decision to aggressively write-down problem loans and assets and to increase the provision for loan losses due to uncertainties in the residential housing and construction market — especially in the Atlanta region. We believe we are well positioned to cover problem loans in our portfolio as we continue working through this difficult credit cycle during 2008. We expect total non-performing assets at year-end, including $5 million for Spruce Pine, to be in the range of $50 million to $55 million.”
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November 2007 North Georgia Mountain Real Estate Market Report
December 2nd, 2007Categories: North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
As a service to myself, my clients, customers and readers, I will be giving monthly market reports as well as in depth quarterly reports on the real estate market for the North Georgia Mountains. Should there be any statistics within my reports that I have left out that you would like me to compile the information and post, please contact me and I will be more than happy to do so. I want to thank you for taking time to read my North Georgia Mountain real estate market reports. The data that I put together comes straight from our local Northeast Georgia Board of Realtors. I have been known to make a mistake from time to time, so please understand that while this information is deemed reliable, it is not guaranteed.
This report shows us the number of ALL Listings within Gilmer, Fannin and Union counties in North Georgia that was either sold or went under contract during the month of November 2007.
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2007 3rd Quarter North Georgia Mountain Residential Market Reports
November 21st, 2007Categories: North Georgia Market reVIEWS, North Georgia Real Estate VIEWS
Here on The Front Porch View I want to be able to provide you with all of the information that you need to make a very good and well educated decision when buying or selling North Georgia Mountain Property. If I have not included a North Georgia Mountain county that you would like to know more about and what the real estate market is doing in that area, please contact me and I will be more than happy to obtain that data for you.
The number of listings have slowly been on the rise for all three counties that I have re-VIEWed. Fannin county listings have climbed higher than both Gilmer and Union counties.
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