North Georgia Real Estate Blog

Jasper Georgia Home Sales Stats for September and October 2009.

Wed, 02 Dec 2009 11:01:53 -0600

While the picture remains veiled as to what the local real estate market will do in the next week, month or year, sales numbers posted for September & October of this year continue to lend support to some level of stabilization.

The 26 homes reported as placed under contract or sold in the Jasper GA area for September 2009 -- while slightly off the 27 sold in 2008, and the 32 in 2007 -- reflect an improvement over the previous month, in which only 23 sales were reported.

October's listed sales and pending sales in turn fared slightly better than September, with 27 homes under contract, and substantially better than the prior year's poor showing of only 12 sales (but still below 2007's 32 sales). Compared to the 30-50% declines in year-on-year comparisons we have been seeing, this is great news, even if still considerably lower than numbers being posted 2-3 years ago.

Average sale prices likewise showed no significant gains, but at the same time, lacked any notable declines. Closed sales for September show an average sale price of $173,965, (excluding 6 transactions not yet closed). Closed sales for October show an average close price of $167,210, with 12 of 27 transactions still to close. These numbers are in keeping with average sale prices in prior months.

The number of home sales listed as bank owned foreclosures showed declines in both months, coming in at only around 30% of all sales, which likely had some positive impact on prices. Of the existing inventory of 500 homes for sale in Pickens County, GA, approximately 6.4% are reported as lender owned REO properties (32), which number could possibly increase in months to come.

While there appears to be some growing interest in the $200K-$300K price range of homes for sale in Jasper, there still appears to be significant weakness in the upper price point of the $300K+ market. Many of the homes now attractive to buyers in the $200K-$300K range are those that would have otherwise been selling for $300K+ in prior years, now available as foreclosures, short sales or other distress sale, at substantial discount. Commercial and land sales seem equally stagnant at this time and there are some tremendous buying opportunities in residential lots, particularly among short sale and foreclosure properties.

It remains to be seen how the continued catalysts of low interest rates, discounted home prices, and buyer tax incentives match up against high unemployment and consumer uncertainty, but the indication from recent sales data suggests that at the least we have reached (at least temporarily), some point of equilibrium in sales volume and prices, which might offer support for an improvement in the early part of next year.

Feel free to contact me for more info about your area, neighborhood, or a specific property you are interested in.

Bent Tree, Jasper GA Bankruptcy Sale: Gated Mountain Community Lot for Sale, only $10,000!

Mon, 09 Nov 2009 13:57:16 -0600

Bankruptcy sale! Bargain Priced Lot in Gated Mountain Community of Bent Tree GA.

Picturesque residential lot for sale in the beautiful gated mountain community of Bent Tree, Georgia. A great opportunity for an affordable piece of land in a North Georgia resort community that offers golf, swim, tennis, a 110-acre lake, beach, playground, walking trails, stables, 24-hour gated security, and more. The lot is easily accessible, close to the lake / overspill area, as well as the stables and secondary access gate. Bankruptcy sale presents an excellent opportunity to take advantage of discount pricing to own this 0.62 acre lot in Bent Tree for only $10,000! All offers considered.

Overview
Maps
Photos
Description

$10,000

Lots and Lands
For Sale

Main Features

Lot: 0.62 acre(s)

Location

1819 Tamarack Drive
Jasper, GA 30143

Trent D Cluley

Keller Williams Realty - Select Partners
(678) 493-2100
TrentCluley@kw.com
http://www.TrentCluley.com

Listed by: Keller Williams Realty - Select Partners

Our recent listings

Bankruptcy sale! Bargain Priced Lot in Gated Mountain Community of Bent Tree GA.
New Home for Sale in Madison Ridge, Jasper GA
Free-Standing Commercial Building in Busy Location w/ Separate 2/1 Rental Residence.
Large Luxury Home for Sale, Jasper GA: - Private Retreat, or Equestrian Estate / Horse Farm, with Fenced Paddocks, Stable, Arena & More!
Immaculate Custom Cape Cod Style Home on 3.5 Acres for Sale in The Outback, Jasper GA. Upgraded Trim and Finishes!

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CMA's, BPO's and Appraisals: How do Lenders Use Them and Why?

Sat, 24 Oct 2009 14:13:06 -0500

BPO's, CMA's, and appraisals are all used to help different parties figure out some form of "fair market value". I think their definitions are adequately covered elsewhere -- what I am most interested in exploring in this post is their use, particularly by banks / lenders.

Before any money exchanges hands in a loan, lenders require a satisfactory appraisal on file, showing that the home's theoretical "value" is equal to or greater than the amount of the loan.

Then, before a home is placed on the market for sale, the listing agent (if they're doing their job) prepares a CMA with a list of comps to help the seller in determining a suitable list price. This is often a very different number from the appraisal.

But, before a short sale is accepted by a lender, or a foreclosed home is returned to market as an REO sale, the lender orders a BPO (and sometimes an appraisal as well). This BPO, whether in line with the earlier appraisal and CMA or not, often determines what the bank is willing to accept as a sale price in any transaction. The BPO may be internal or a drive-by, and may be done by a local agent or one from another area -- usually not by the listing agent -- which leaves some room for variation in how close an approximation to "market value" this number actually is.

So, which is "better"? Which of the three is more accurate?

I would argue that a well put together CMA is most likely to approximate "truth" as to what a motivated buyer would be willing to pay for a particular home in a given market at a particular point in time (but then I'm biased). However, even though I think a CMA would probably do a better job of providing a lender with necessary insight, there is of course some logic in lenders not relying on CMA's from listing agents as a guide (particularly with short sales), due to our obvious vested interest in seeing the property sell.

But, the question for me is . . . why do lenders often rely on appraisers / appraisals when lending money, and agents / BPO's when collecting on the debt?

Theoretically, appraisals are more detailed and accurate. They also cost more. So is it that lenders are just going the more cost-effective route in saving $200-$300 by settling for a BPO, or do they feel there really is little difference between the two, and that either is sufficient?

If it's that a BPO is not as accurate, just cheaper, this would seem another example of "penny wise, pound foolish" within the financial sector. Selling an REO for thousands of dollars below where it should be, based on a low BPO, or losing a deal by holding to a BPO that comes in too high, makes the couple of hundred bucks in savings laughable.

If it's that an appraisal and BPO are pretty much the same thing in terms of effectiveness and reliability, and therefore interchangeable, would a BPO not then be sufficient for originating a new loan? The lender would still have confirmation from an independent 3rd party that there's a house there, worth somewhere close to the loan amount.

In my opinion, the over-reliance on BPO's and appraisals is problematic in its own right, but this inconsistent practice of depending on one source of valuation in the loaning of money and another source in the collection of that debt -- if that's what it is -- is one I'm interested in learning more about.

Pickens County Georgia Real Estate Data: August 2009

Wed, 14 Oct 2009 11:10:09 -0500

It appears that the positive trend we had been seeing in Jasper GA home sales in the early part of the summer took a turn for the worse in August.

The number of homes placed under contract or sold, 24*, was 20% lower than August 2008, and 33% below 2007's numbers. It also reflects a notable decline from the prior month's sales numbers. The average closed sale price of $219,072 for those transactions that have closed holds some promise on the pricing side of things, although still at a very low list-to-sale price ratio.

Of the 24 transactions, seven of the homes were located in either Bent Tree or Big Canoe. Eight were bank-owned foreclosures (33%). This is compared with only five foreclosures sold in August for each of the two previous years, or, 17% and 14% of all sales, respectively, for 2008 and 2007.

Inventory continues to hover at an unfavorable two-years plus, with 531 homes for sale in Pickens County GA at the time of this writing. Twenty-seven of these active listings were listed as bank-owned or foreclosures -- a slight drop as an overall percentage of inventory over prior months. With 30-40% of all homes that are selling being some form of distress sale, this drop is not surprising, but is also likely to be quickly replenished if the number of foreclosure notices being published is anything to go by.

This turnaround from the improvements we had been seeing is hard to explain, and makes predicting future trends almost impossible. September and October aren't showing significant signs of improvement, so the earlier gains may simply have been a release of pent up demand, and some bargain hunting by savvy buyers seeing great opportunities that met their needs. Even the anticipated surge of first-time home buyers racing to meet the tax credit deadline hasn't been as great as many expected.

Overall it seems the mood of uncertainty about job security, unemployment, housing prices and the economy, seems to be holding in check any sustained turnaround in the local Pickens County housing market.

*Some data used herein obtained via First Multiple Listing Service and is not warranted.

Jasper GA Commercial Real Estate for Sale: Large Retail / Office Space & 2/1 Rental Apartment

Thu, 08 Oct 2009 20:18:39 -0500

Free-Standing Commercial Building in Busy Location w/ Separate 2/1 Rental Residence.

Excellent commercial or investment real estate opportunity in convenient Jasper GA location.

Large, free-standing building on level 0.42 acre lot, with additional 2/1 rental apartment in the back, and 100' of road frontage on busy Talking Rock Hwy, close to the new Walmart shopping center.

Currenty used for a retail & a service business, there are numerous possibilities for other ventures. (Price listed is for buildings and land only, if desired, however existing business(es) can be negotiated separately.) In addition to a small kitchen area, a bathroom, and large storage area, the main building also offers a huge divided front area, suitable for: Two separate businesses; a single business with a display room & warehousing area; an office with large work / storage space; the dividing wall could be removed for an even larger single front space; or, additional walls could be added for office space.

With two pedestrian front access doors, plenty of display windows, and an overhead door with ramp access, the business possibilities are even more varied: Automotive supplies, furniture repair or retail, rental equipment, antique store, appliance repair or retail, pawn shop / thrift store, dance studio, lawn and garden supply, etc.

Parking is plentiful, with the whole front lot paved, and easily accessed from Talking Rock Road, while to the rear, the lot is security fenced and gated for storage of larger items, or additional parking if needed. A pole sign is in place at the street, with storefront signage easy enough to add.

The 2/1 residence, or additional store space / studio, in the rear, includes a drive under garage suitable as a repair shop or workshop, if not used for parking by the occupant. The apartment is ideal for an on-site business owner (particularly for a startup operation), as a possible employee incentive, or for additional rental income (was renting for $500/month).

Together as a package, this commercial property for sale in growing Pickens County GA, right in the path of progress, is a unique opportunity at a great price! Don't miss out . . . call or email for more info today.

Overview
Maps
Photos
Description

$186,500

Commercial
For Sale

Main Features

Lot: 0.42 acre(s)

Location

1215 Talking Rock Road
Jasper, GA 30143

Trent D Cluley

Keller Williams Realty - Select Partners
(678) 493-2100
TrentCluley@kw.com
http://www.TrentCluley.com

Listed by: Keller Williams Realty - Select Partners

Our recent listings

Free-Standing Commercial Building in Busy Location w/ Separate 2/1 Rental Residence.
New Home for Sale in Madison Ridge, Jasper GA
Large Luxury Home for Sale, Jasper GA: - Private Retreat, or Equestrian Estate / Horse Farm, with Fenced Paddocks, Stable, Arena & More!
Reduced! Brand New 3/2.5 "Cottage" in Popular Arbor Hills Swim / Tennis Community, Jasper GA
Immaculate Custom Cape Cod Style Home on 3.5 Acres for Sale in The Outback, Jasper GA. Upgraded Trim and Finishes!

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See more Jasper, GA real estate for sale

Jasper GA Home for Sale: New Construction 4/2.5 on 1.3 Acres in Madison Ridge

Tue, 06 Oct 2009 14:54:12 -0500

New Home for Sale in Madison Ridge, Jasper GA

Overview
Maps
Photos
Description
Virtual Tour
Market Stats

$265,000

Single Family Home
For Sale

Main Features

4 Bedrooms
2 Bathrooms
1 Partial Bathroom
Lot: 1.30 acre(s)

Location

341 Madison Lane
Jasper, GA 30143

Gorgeous, move-in ready new construction, in picturesque Madison Ridge subdivision in Jasper GA.

This pristine home offers 3 bedrooms and 2.5 bathrooms, as well as a huge bonus room or fourth bedroom and full daylight basement that together provide abundant space.  The main level includes a spacious family room with fireplace, a separate living room and dining room, breakfast area, open kitchen, laundry room, half bathroom, and sizable master suite.

The kitchen is open to the family room and breakfast area, creating generous space for entertaining and everyday use, while equally convenient to the formal dining room. With hardwood floors, granite counters, tile backsplash, custom cabinets and stainless steel appliances (dishwasher, inset stovetop, microwave, and double-oven), this is a functional and inviting workspace with a touch of class.

Likewise the master bedroom, complete with trey ceiling and ceiling fan, extends beyond functionality to indulgence, with separate his & hers closets, and a large private bathroom. A jetted tub with large window, private toilet stall, enclosed tile shower, and separate his & hers vanities, set this bathroom apart.

Downstairs, the full basement is easily accessible from inside our outside, with an interior door and two exterior doors (including a double-door), several windows, and its own secondary deck overlooking the wooded back yard.

Outside, a landscaped 1.30 acre yard, sodded in front and wooded in back, assures room for outdoor activities, as do the two decks and covered front porch. Concrete siding and architectural shingles add the finishing touches.

The neighborhood of Madison Ridge is a small, quiet, relatively new community, with approximately 3/4 of available homes already occupied, and a number of acre-plus lots still available for additional development. Underground utilities, but no community amenities or HOA at this time.

Location is a convenient mountain setting, roughly 3-miles off Hwy 515 in South Pickens County, just minutes from Jasper and Canton, GA.

Don't miss out on the lowest priced home available for sale in the neighborhood, and a great opportunity on a quality home!

Trent D Cluley

Keller Williams Realty - Select Partners
(678) 493-2100
TrentCluley@kw.com
http://www.TrentCluley.com

Listed by: Keller Williams Realty - Select Partners

Our recent listings

New Home for Sale in Madison Ridge, Jasper GA
Large Luxury Home for Sale, Jasper GA: - Private Retreat, or Equestrian Estate / Horse Farm, with Fenced Paddocks, Stable, Arena & More!
Reduced! Brand New 3/2.5 "Cottage" in Popular Arbor Hills Swim / Tennis Community, Jasper GA
Immaculate Custom Cape Cod Style Home on 3.5 Acres for Sale in The Outback, Jasper GA. Upgraded Trim and Finishes!
Pristine 17-Acre Lot for Sale in The Preserve at Sharp Mountain, Jasper GA -- Creek, Mt. Views, Level to Sloping Terrain

Subscribe to our listing feed

See more Jasper, GA real estate for sale

Jasper Georgia Home Sales, July 2009: A Good Month for Pickens County Real Estate?

Wed, 09 Sep 2009 12:09:13 -0500

As hoped for and expected, July 2009 saw a notable improvement in house sales in Jasper GA, as compared to both prior year numbers, and prior month home sale numbers, for the Pickens County area. And not by a small amount either.

Reported pending sales for July jumped 43%, to 30 homes placed under contract, from 21 in June '09 . . . and doubling from only 15in July 2008. Equally significant is the fact that average sale price for those transactions that have already closed falls close to $226,000, versus an average sale price in June of closer to $184,000, and $187,000 for July 2008. This suggests activity from some buyers looking in higher price ranges, which is good news for sellers. July's sales in fact top even sales volume for July 2007, which came in at 27 homes sold, but still trail the average sale price of $234,348. Sale price to list price ratio improved slightly as well, up to 91.5%. Still not a great ratio, but a good sign of improvement.

Bank-owned foreclosure homesaccounted for 11 of the pending sales (37%), while almost half of all houses under contract of sale were located in either Big Canoe or Bent Tree, GA. These numbers highlight the difficulty for a non-institutional home seller in Pickens County that doesn't live in Bent Tree or Big Canoe -- particularly at the above $200,000 price point.

Anecdotally, some of the increased activity can be attributed to heightened interest from first time home buyers looking to take advantage of the federal and state tax credits, but exactly how much is attributable to this, is difficult to say. Low home prices and interest rates are just as likely to have played a role.

Inventory is again up above 550 homes for sale, with the uptick in sales doing little to keep up with listings coming on market. Foreclosure homes continue to account for around 7% of homes on the market, despite the high percentage of these REO properties that are sold each month relative to other sales.

So long as foreclosures keep inventory up and prices down, it is going to be a challenge to support any argument that a solid bottom has been reached, or a turning point found, but, even just maintaining where we are now -- with no further deterioration in volume or value -- can be viewed as something of a positive. So we'll just have to wait and see where August's numbers come in and what they might tell us...

For more info about your local market, neighborhood or a specific home, feel free to email or call with your request.

[Data used herein obtained via First Multiple Listing Service and is believed accurate, but is not warranted.]

Pickens County Georgia: Summer Activities and Things to Do

Sun, 30 Aug 2009 18:46:27 -0500

One of the things that has made the area around Jasper and Big Canoe, GA, particularly appealing to commuters and retirees, permanent and part time residents alike, is its central position in North Georgia, which affords convenient access to the rivers, lakes and mountains of the north and east, and the city life of Atlanta to the south.

Some of the attractions of Atlanta are obvious, with museums, parks, music venues, shopping and restaurants to suit just about any taste. And of course there are the big draws like Six Flags over Georgia, and Atlanta's professional sports teams -- Hawks, Braves, Falcons, etc.

But, for those looking to avoid the large crowds and hefty prices at venues such as these, or perhaps something a little more "quaint" or different, there are other opportunities not too distant from Pickens County, GA, that can be taken advantage of in the summer months . . .

Each year in Jasper during the week of the Fourth of July, a small fair sets up in town at the Chamber of Commerce park, and includes rides, games and food, that is ideal for anyone with small children. An annual tradition looked forward to by many locals.

A little further afield, the minor league teams of the Rome Braves and Gwinnett Braves can be enjoyed for less than $20 per ticket, and most of the seats are pretty good compared to major league stadium seating. The games also have a whole different feel and personality than the big leagues, with a more personal feel for youngsters.

Beginning in August of each year, the Atlanta Falcons hold their training camp in Flowery Branch, GA, which is free and open to the public, and only about an hour from Jasper. Concessions are reasonably priced, and there are activities and giveaways for the kids, along with a chance to be at field level with the players and gather autopgraphs. Well worth the trip.

There are numerous other opportunities and activities in and around Pickens County, GA, but these are just some that come to mind as poignant at this time of year. Will post more later. (You can also read related posts on things to do in Jasper GA, on my other blog, CurbviewJasper.com.)

I will be glad to provide more info on these activities if needed.

Jasper GA Top Selling Neighborhoods: July 08 - July 09

Sat, 08 Aug 2009 16:22:30 -0500

Out of curiosity I pulled the numbers on home sales in Pickens County GA by neighborhood for the past year, to get a rough idea of which subdivisions, besides Bent Tree and Big Canoe, had seen the most activity for the time period.

Bent Tree and Big Canoe were excluded as the two largest neighborhoods in the county, and therefore likely to always hold the top slots. Combined the two account for around 44% of all current listing inventory, and approximately 26% of all home sales / pending sales over the past 12-months. So, outside of Big Canoe and Bent Tree, here is how the neighborhoods stacked up by overall number of sales:

1) MADISON RIDGE - 9
2) ARBOR HILLS     - 8
    SALACOA HIGHLANDS - 8
3) SADDLE RIDGE - 6
4) HUNTER'S RIDGE - 5
    IVY RIDGE - 5
    WHISPERING WATERS - 5
5) PHILADELPHIA HEIGHTS - 3
    WILD TIMBER - 3
    WINCHESTER OAKS - 3
    CHIMNEY RIDGE - 3

All other communities had less than 3 sales each during this time period. How much these numbers are affected by neighborhood characteristics and popularity versus lower prices or affordability is open to speculation, but it is most likely some combination of the two. All areas experienced some level of foreclosure, short sale or other distress sale during this time, but, outside of Madison Ridge, most of these neighborhoods had solid sales activity prior to the price reductions that took place. The lower prices simply came as a bonus.

I expect to see the ranking hold or improve for some neighborhoods like Arbor Hills, Winchester Oaks, and Saddle Ridge, over the next 12-months, while others are likely to drop lower on the list, due more to reduced inventory than buyer demand. For example, Wild Timber and Madison Ridge have few homes left available for sale, relative to where they were a year or so ago (at least not at the prices buyers have gotten used to paying). Of course, this is subject to the direction of the foreclosure and short sale trend in the coming months, which is something yet to be seen . . .

The Village at Oak Creek: Luxury in the Mountains . . . Jasper Georgia's Newest Swim / Tennis Community

Tue, 28 Jul 2009 22:27:25 -0500

The Village at Oak Creek adds to Pickens County Georgia's mix of neighborhoods with a touch of luxury.

While the average sale price of homes in Pickens County is below $200,000, homes for sale in The Village at Oak Creek have an entry level in the low $500's. These homes offer the size and style elements one would expect in the price range, with soaring ceilings, ornate cabinetry, elaborate trim and elegant stonework that makes each home a unique masterpiece for the discriminating buyer.

Few homes have made it to market -- only four have been listed in real estate to this point, ranging in price from $530,000 to $689,000. The lowest priced of these houses was a bank owned foreclosure home previously listed at $665,000, before being repossessed by the bank and placed back on the market. Individual lots are also available for buyers interested in building a home themselves.

Lot sizes are all from one acre to a little over two acres, with a gentle topography that ranges from level to rolling, and many of which benefit from pleasant mountain views.

Community amenities include sidewalks, a picturesque swimming pool with waterfall, a pavilion with fireplace, and lighted tennis courts -- one of the few subdivisions in the Pickens County area other than Big Canoe and Bent Tree to offer these types of features for residents. Underground utilities include electric, public water, septic tank, phone, cable, hi-speed Internet, and gas.

Among the advantages of The Village at Oak Creek is its very convenient location, just a couple of miles west of Jasper off Highway 53 -- close to town and Highway 515, with the advantage of acre-plus lots to ensure some level of privacy in this quiet community.

Although the price point is notably higher than for much of the sales in the county, for those intending a purchase in the range of $500,000 and up, The Village at Oak Creek allows luxury options outside of the larger gated communities.

For a complete email list of homes for sale in The Village at Oak Creek, more information on anyhomes or land for sale in Pickens County, GA, or daily email updates of price changes, foreclosures, and homes new to the market in The Village at Oak Creek, just send Send Us An Email with your request. You can also use the Property Search feature to search Jasper Georgia homes for sale by neighborhood.

Black Knob Falls Subdivision: Homes For Sale with West End Convenience, Ranger Georgia.

Mon, 27 Jul 2009 22:52:13 -0500

For newer homes on the west end of Pickens County GA, Black Knob Falls is a neighborhood similar in size, style and price point to comparable communities like Bethany Moorings and Saddle Ridge, but closer to Ranger and Fairmount than these developments in South Pickens.

There have been few recent home sales in Black Knob Falls to provide up to date home sale price averages, but for the past couple of years, the average has been around $150,000. By contrast, the average list for the three homes currently on the market is only $147,600 (in a broad range from $130,000 to $179,900). Some foreclosure and short sale activity has been behind the downward movement in prices.

The homes were all built within the past six-years or so, and offer standard features found in most homes in this price range and style. Frame construction with vinyl siding (some with concrete siding), basements, a deck and/or porch, and acre-plus lots. Interiors include wall-to-wall carpeting, laminated countertops, master suite with private bath, laundry, fireplace and more. Several of the homes have the garage located on the main level and offer all main level living, versus the drive under garages, split level, and multi-story layout often found in other neighborhoods.

A homeowner's association, streetlights, and underground utilities are some of the benefits of the neighborhood, along with pleasant mountain views. Association dues were $100 a year, as of this writing. Utilities provided include electric, phone, cable, hi-speed Internet, public water and septic tank for sewer.

Situated on Black Knob Church Road, off Highway 53 West in the Hinton / Ranger area, Black Knob Falls is equally convenient to Jasper and Fairmount, in an area likely to see growth in years to come. Overall, an option to keep in mind for anyone looking to keep a home purchase under $170,000, in a quiet community, off the beaten path.

For a complete email list of homes for sale in Black Knob Falls, more information on anyhomes or land for sale in Pickens County, GA, or daily email updates of price changes, foreclosures, and homes new to the market in Black Knob Falls, just send Send Us An Email with your request. You can also use the Property Search feature to search Jasper Georgia homes for sale by neighborhood.

Home Sales for Pickens County Georgia, June 2009: The Positive Trend Continues

Mon, 27 Jul 2009 16:58:00 -0500

Following what appears to be a national trend, real estate sales in the Jasper GA area showed yet another year-on-year improvement for the month of June. June's 21 pending home sales in Pickens County GA, is a 16% increase over June 2008, but, as has been the case for monthly sales data throughout the year, it still falls well below 2007's numbers, which came in about 45% higher, at 38 homes sold. It also reflects a month-to-month decline from May, which had 24 sales.

The average list price for the houses under contract was near $177,000 -- in line with the lower selling prices that have defined the market this year, even in the face of improving volume. While the average sale price on those transactions already closed for June is just over $220,000, I anticipate the average sale price once all transactions are accounted for will fall below $170,000. This would be lower than last year's $186,000, and much lower than June 2007's average close price of $252,000.

No surprise that foreclosures once again played a significant role in real estate data for the month. Nine of the 21 pending sales (43%), were listed as bank-owned foreclosures. By comparison, 33% of sales in June 2008 were foreclosures, while in 2007, only 13% were foreclosed homes. The percentage of total home inventory that is bank owned continues to hold steady at around 7%

Overall number of houses for sale in Pickens County GA hasn't seen any significant gain over the past couple of months, which is good, but neither has there been any reduction . . . leaving inventory at an unfavorably high level for sellers.

It is hard to argue that several months of improved volume doesn't signify an improvement, even if prices aren't following this same track. Inventory reduction is essential to price support, as is greater economic stability, in both the job market and the mortgage industry (more available financing and an easing of the ongoing foreclosure and short sale crisis). Lower priced homes are likely to fare better locally than their higher-priced counterparts for some time.

Expect to see some more solid numbers posted in July, one of the peak months in real estate, which I believe will outpace both June 2009 and July 2008 by a good amount . . . leading into an even better August . . .

Saddle Ridge, Jasper GA: Homes for Sale at Great Prices in Convenient South Pickens Location

Sun, 26 Jul 2009 21:37:36 -0500

Jasper Georgia's Saddle Ridge subdivision, conveniently located in South Pickens County, offers some great buying opportunities on available houses for sale. Average home sale price continue to drop year-on-year, making for some great buying opportunities in this newer neighborhood.

Saddle Ridge is a smallish community of 50+ lots with an assortment of affordable homes in the under $200,000 price range. In fact, market conditions have gradually pushed average sale prices from an average of around $170K two years ago (9 sales), to this past year's average of only $146,000 (3 sales). Much of this pricing pressure can be attributed to distress sales in the form of foreclosures and short sales. Of the three homes currently on the market, one is a short sale, while out of the three homes under contract of sale, two are bank-owned foreclosures, and the other is a short sale. For the three homes that sold in the past year, two were foreclosed REO's.

Unfortunately, the sales prices suggest a bleaker picture of the neighborhood than is the reality.

Similar to nearby Bethany Moorings, Saddle Ridge is actually a fairly new community, with most of the homes less than five-years-old. The homes offer acre-plus lots, most of which are landscaped and neatly maintained, with wooded back yards. Exteriors generally have concrete siding, some stone accents, decks, and in some cases, Craftsman style elements. Most of the homes include a full or partial basement, and at minimum a one-car garage; usually two.

Interior features are fairly standard with wall-to-wall carpet, laminate counters, central heat and air, fireplaces, etc. Some of the homes have been upgraded to include hardwood floors in the living areas, tile in the bathrooms, stainless appliances, and finished basements, providing homebuyers with some variety in their selection.

With four cul-de-sac streets making up the quiet neighborhood (all with equestrian-themed names -- Saddle Ridge Trail, Appaloosa Court, Arabian Court, and Horseshoe Bend), traffic is minimal, yet proximity to Highway 108 and Highway 515 make for easy access to Canton and Waleska in Cherokee County, without being too removed from Jasper.

There are no community amenities to speak of, however there is an homeowner's association (with a nominal $75 annual fee as of this writing), underground utilities, and street lights. Standard utilities include electric, septic tanks, public water, phone, cable and hi-speed Internet.

At an average list price of just under $162,000, right around the average and median sale price for Pickens County, GA, Saddle Ridge is ideally situated for home buyers looking at homes for sale in this price range, particularly first time buyers taking advantage of the current incentives to buy that first home, or those looking to downsize. And for those looking to pick up on a really great deal, a couple of houses pending foreclosure are likely to be on market shortly as REO's, possibly at great prices . . .

For more information on Saddle Ridge Subdivision, or other neighborhoods, in Jasper GA, feel free to contact me. To search all Pickens County GA homes for sale, click here.

The Oaks at Yellow Creek, Ball Ground / MarbleHill GA: Estate Size Lots and Quality Homes in Southeast Pickens County GA

Sat, 11 Jul 2009 19:43:50 -0500

The Oaks at Yellow Creek is one of several neighborhoods in Pickens County to have suffered the effects of the real estate slow down, with slow home and lot sales over the past couple years, despite a good location in southeast Pickens county GA. Development has been relatively slow, with only nine homes completed in the neighborhood, several of which have already fallen victim to bank repossession through foreclosure actions.

Close to Big Canoe in the Marblehill areaand less than a mile from the Cherokee County line, The Oaks at Yellow Creek affords convenient access to Cumming, Ball Ground, and Dawsonville, at a reasonable price point. With only nine or so existing houses, resale homes for sale in the The Oaks at Yellow Creek don't come up too often, but the recent foreclosure activity has made a couple of homes available at very reasonable prices . . . well below list prices in the $300's of prior years. These bank owned (REO) homes can be purchased starting at around $200,000 and up, making for some pretty good deals!

Lots for sale in The Oaks at Yellow Creak are all estate size, 3-acres or more and nicely wooded, offering privacy and, in some instances, pleasant mountain views. Public water and sewer are not available, so a well and septic tank have to be considered as part of the cost and building process, but other utilities are run underground and readily available. The community has no amenities, or HOA dues at this time.

Existing homes are similar in style and finishes to those found in other like neighborhoods in the Jasper GA area (Wild Timber, Jordan's Crossing, Dogwood Trace, etc), with gabled roof lines, stone-accented concrete siding exterior, hardwood floors, granite counters, etc. One difference is that the larger lot sizes and lessened stage of development affords a greater element of privacy than is often found in similar neighborhoods.

With the Foothills shopping center just a short distance up Yellow Creek Road, the North Georgia Premium Outlet Malland the new Target store and shopping center in Canton just 30-minutes away, and Cumming not much farther, shopping is readily accessible. The growth of high-end neighborhoods like Big Canoe, Crystal Falls, Woodhaven Bend, the new Tate Reserve, and proposed Potts Mountain @ Big Canoe, all in the surrounding proximity, make the general area -- in my opinion -- likely to see further growth and development in years to come.

For more information on lots or homes for sale in The Oaks at Yellow Creek, feel free to CONTACT ME, or search all houses and land for sale in Pickens County GA and surrounding areas by map location HERE.

Jasper Georgia Home Sale Data for May 2009 . . . The Upward Trend Continues!

Sun, 28 Jun 2009 11:34:03 -0500

It's great to be able to report on Pickens County GA real estate data that is leaning toward the positive for a second month in a row!

For May 2009, the number of homes listed for sale in the Jasper GA area that were placed under contract of sale came in at 24 . . . 26% higher than May 2008 (but still well below 2007's numbers). While this is actually a slight decline from the previous month's home sales, this dip is not unusual. A look back at 2007 & 2008 would show a similar month-on-month decline from April to May -- a trend is likely to continue into June, before picking back up for the peak months of July & August.

Only 13 of the 24 sales have actually closed, so there are still some pending sales to account for, which is likely to alter the numbers somewhat once all data is in, but, as of this writing, the average closed sale price was $219,930. With an average list price of only $154,627 for the remaining 11 however, the average sale price for May is once again likely to fall a good bit below $200,000, and well off of 2008's average of $221,876. One point of concern in the otherwise good news is that the average list to sale price ratio for those transactions that have already closed fell below 90% -- suggesting aggressive discounts on at least some of the sales.

As has been the case for several months now, bank-owned foreclosures, short sales and other distress sale scenarios played a significant part in house sales for Jasper last month as well. Nine of the 24 home listings were foreclosed REO's (37.5%), with another three listed as "short sales", bringing the total of distress sales up to 12 . . . or a full 50% of all transactions for the month. New construction homes in Dogwood Trace and Madison Ridge made up five of the nine lender owned properties under contract.

Another slight, if expected, damper on the good news, is a continued increase in overall inventory. Home sellers are more likely to enter the market at this time of the year, so listing inventory usually does increase, but, unless sales numbers pick up significantly, while homes continue to be added faster than they are selling, it is going to be difficult to absorb what is now more than two-years worth of available inventory in Pickens County GA. The percentage of these properties listed as foreclosures or bank owned is still hovering around 7%, but a review of foreclosure notices for homes being auctioned on the courthouse steps in Jasper next month (July), points at possibly 35 or so homes being foreclosed. This could create a noticeable shift in listing inventory (particularly with a number of already foreclosed properties still not yet on market, but out there somewhere). Good for buyers looking for good prices and great deals . . . not good for sellers.

To end on the positive note with which this post began . . . it appears that June 2009, is at least on a pace to match June 2008's numbers, and with a few more days to go, the numbers may in all likelihood come in higher year-on-year for a third month in a row, and fourth month of improved month-to-month sales. If this trend continues, it may signal that at least a bottom has been reached in declining sales. It may take a little longer to see improvement in pricing, as existing inventory will have to be worked through, but we have to start somewhere, and hopefully this is it . . . .

Feel free to Contact Me for specific information about sales data in your neighborhood, or one in which you are interested, (including foreclosure info).

Beautiful Bent Tree, Jasper GA . . . A Hidden Gem in the Rolling Foothills of the Appalachians

Thu, 25 Jun 2009 21:44:11 -0500

A gently winding mountain road, shaded by arching trees . . . cool air wafting through open windows . . . the moist scent of thick foliage rustling in the breeze overhead. For the first time visitor to Bent Tree, there is sense of something different, something special, that sets in long before the main gate is ever reached. A sense of leaving the hustle and bustle of the city, a flight from noise and traffic . . . a return to nature's magnificence.

Inside the gate awaits a comforting world of lush greenery in spring and summer, rich amber hues in autumn, and misty melancholy in winter. An escape to tranquil days swimming, fishing and boating on the sparkling, spring fed lake; balmy afternoons with friends on the green, and silent evenings under a starry sky at 3,000 feet above sea level. Here is a step back in time to a less hurried existence, where neighbors greet neighbors, and deer and wild turkey have the right of way.

Being overshadowed by its larger neighbor, Big Canoe, has possibly benefited the unique personality of Bent Tree to some degree. While it has many of the same, or similar, types of amenities and features as Big Canoe (albeit to a lesser degree), it has remained something of a pleasant little Pickens County secret, largely unknown to the outside world, other than through word of mouth -- which has kept prices from soaring out of control, and prevented over-development.

Average prices of both lots and homes for sale in Bent Tree GA have remained well below that of Big Canoe, as have property owner's association (POA) and amenity fees. With great fishing on the 110-acre Lake Tamarack, long range mountain views, hiking trails, golf, tennis, 2 swimming pools, stables, a clubhouse, 24-hour gated security, a beach with pavilion, and other community features, Bent Tree has much to offer. Probably as much or more than the average person would effectively utilize anyway . . .

Close to Jasper -- and smaller in size overall than other similar gated mountain communities in North Georgia -- Bent Tree is a convenient option for those seeking this lifestyle choice, but also wanting to commute, or wanting to be closer to schools, shopping choices and medical facilities (Piedmont hospital isn't too far away and is surrounded by a growing medical community). For those interested in a weekend getaway, retirement home, or vacation rental, this ease of access and affordability certainly make Bent Tree worth consideration.

With homes available from the mid $100's and the average sale price in the low to mid $200's, yet with some very nice homes in the higher price ranges also, as high as $800,000+, there is opportunity for most budgets. For those looking at mountain lots for sale in North Georgia on which to build (or land to buy as a long term investment), Bent Tree has some very competitive pricing on lots of all sizes and features -- lakefront, lake view, mountain, golf view, level, sloped, creek . . . something for everyone.

One very attractive program currently available to potential buyers of lots in Bent Tree, is 100% certified buildable lots, offered with 95% financing possible. These lots all come with a new survey, level-3 soil test, and a refund guarantee if the lots prove to be unbuildable for some reason. The 95% of purchase price loans are offered at competitive rates, and are based on a number of factors other than just credit score or debt ratios. For more info on land for sale and financing through this program, you can visit their website HERE.

While Big Canoe certainly has a great deal to offer anyone looking for a vacation home, permanent residence, or land for sale on which to build a home in North Georgia, Bent Tree has perhaps not received enough recognition for what it has to offer, resulting in some great opportunities for those willing to look elsewhere for that perfect mountain property, without paying for image or branding.

Questions or comments? Contact Us.

[NOTE: As of August 2009, the above lot loan programs are being offered as 100% land financing opportunities on the referenced certified buildable lots in the Bent Tree community!]

Summer of Social Good: Large Scale Online Social Media Campaign to Raise Funds for Worthy Causes.

Mon, 15 Jun 2009 21:58:46 -0500

One of the many things I enjoy about Twitter is the exposure to things about which I might never have otherwise known, (yes, I admit, I use social media for purposes other than simply to "lead generate" or "drive business" . . . shame on me!!!).

A recent Tweet by @Mashable (Pete Cashmore) alerted me to the Summer of Social Good campaign, running from June through August of this year. This initiative is a push to use the power of social media (Facebook, Twitter, MySpace, blogs, Twitter, etc.) to raise significant funds for four worthwhile charities.

100% of all funds raised will be divided evenly among four charitable organizations:

The Humane Society of the United States (www.hsus.org) - Animal protection and defense
LiveStrong - Lance Armstrong Foundation (www.Livestrong.Org) - Cancer support
OxFam America (www.OxFamAmerica.Org) - Global poverty and social justice issues
World Wildlife Fund (www.WorldWildlife.Org) - Global nature conservation

By spreading the word virally, the goal is to reach as many people as possible, so that regardless of the size of the contribution, even just a few dollars, the sheer volume could generate a substantial sum in a short period of time. It will be interesting to see how effective the program is.

I know it worked for me. I followed the Tweet link to the Summer for Social Good site, clicked the "donate" button (via Paypal, but credit card and check are also accepted), and was then able to Tweet what I had done . . . encouraging others to do the same! Pretty painless.

So, let's see how it works here . . . to make a single contribution to be divided between these four worthy efforts, CLICK HERE, and then be sure to tell others. And, even if you choose not to donate, please help spread the word by sharing the link. http://www.globalgiving.com/socialgood.

Madison Ridge, Jasper GA: Activity Surge -- Foreclosure Homes for Sale Being Snatched Up at Bargain Prices!!

Tue, 09 Jun 2009 14:53:42 -0500

Both potential buyers and local residents have commented to me on the pleasant setting and overall appeal of the fairly new Madison Ridge subdivision in Jasper GA, but expressed concerns that few homes had sold. Well, that has changed.

In the past few months, there have been four homes sold . . . with another four houses currently under contract of sale, scheduled to close within a few weeks! That is eight, out of a total of about 12 new construction homes for sale in Madison Ridge, already gone! And, most of these houses were purchased at bargain prices, ranging from $150,000 to $242,000, versus previous list prices in the high $200's to low $300's.

These aren't the only bank owned foreclosures in Pickens County being snatched up by buyers . . . there are recently closed and pending sales of foreclosed bank REO's in Wild Timber, Jordan's Crossing, and Dogwood Trace as well, but not such a flurry of activity as has been seen in Madison Ridge recently.

With only a handful of homes remaining for sale in this neighborhood, it shouldn't be long before all available inventory at these great prices is gone. Certainly a positive development for the excess of new houses that we previously had on the market competing with resales and restricting future development . . . and maybe just one more sign of improvement in our local housing market.

Request more information on homes for sale in Madison Ridge, Jasper GA, and other North Georgia areas, obtain a free list of foreclosure homes and land in Pickens County GA, or search homes for sale by neighborhood.

Pickens Georgia Real Estate Market Report: Home Sales Data for April 2009

Fri, 29 May 2009 10:09:40 -0500

As hinted at in last month's Jasper Georgia home sales report, it appeared possible that we would see a slight improvement in the number of houses placed under contract of sale in Pickens County for April 2009. Sure enough, both in prior month AND year-on-year comparisons, April '09 performed better than both. This is definitely a positive sign, but still a way to go before announcing a major turn around.

A total of 26 homes* were entered as either pending / contingency sales or closed transactions, which is a significant improvement over March '09 numbers and a 30% increase in sales over April 2008! Still trailing 2007 posted data by more than 25%, but an improvement is an improvement and I'll take it.

Now for the bad news . . .

The average list-to-sale price of those transactions that have already closed dropped down to just over 90.5% . . . almost a 10% hit on properties that are often already listed at a reduced price! This may change slightly once all closings are accounted for, hopefully coming in a little higher, but is something to watch.

Likewise, average sale price in Pickens County GA for transactions already closed (10) is only $169,280, and the remaining 16 under contract have an average list price of only $187,598, suggesting that average sale price for April 09, despite a pick up in sales numbers, will still come in lower than last year's average sale of $189,950.

The obvious factor in all this, one that pops up whenever we discuss falling prices, is the ongoing issue of short sales and foreclosures in Jasper GA. Twelve of the 26 homes placed under contract were listed as foreclosures or bank owned "REO" properties. Forty-six percent! By comparison, sales of lender owned foreclosure houses in April 2007 & 2008 came in at only 3 & 4, respectively. These low-priced properties likely account for both the drop in average sale price, and our increased sales numbers, as some buyers are jumping into the market to snatch up the best deals (a trend not restricted to the local market).

Inventory continues to inch upward toward 550 homes for sale in Pickens County. Approximately 7% of these are foreclosed homes, and that number is likely to continue to climb as sales aren't keeping up with repossessions.

Back to some good news . . .

Early data for May indicates that the positive move in April's numbers are likely to be repeated for this month. I look forward to being able to provide more encouraging data in next month's post (unless my monthly report is preempted by someone else before I get to it, but hey, good news is hard to contain!).

* As reported in FMLS listing service.

Take Back What You Said! Exercising Caution in the Information Age . . .

Mon, 18 May 2009 09:38:08 -0500

As I was finishing up my previous post on the future of information and communication, and having just read a number of other posts, such as Jeff Belonger's very poignant post on the current $8,000 tax credit / downpayment controversy and the rapid dispersal of misinformation, I wanted to follow up the thought with some commentary on the position we find ourselves in today in terms of the speed and ease with which we can disseminate information.

When I take a listing, I can spread the word like wildfire through email, blogs, Twitter, real estate websites, syndication, social networks, and other such resources, which can be a good thing. In the same way, news (good or bad) ignites the Internet (and our cell phones / PDA's) with the latest. In the fast moving world of micro-blogging and SMS, there is no "proof" from the publisher to review before publication day. Word travels as fast we can type and hit enter. Even spell check is a thing of the past . . . in fact we deliberately mangle the English language and spelling to shorten and speed up what we are doing even more!

Unfortunately, once we hit "send", take-backs are hard to do. The initial comment, report or . . . rumor, is forwarded, re-blogged, and re-Tweeted. It is now a fact . . . distributed around the world. Even a simple joke or disparaging remark on Twitter or Facebook can be picked up and repeated before there is time to hit delete, and regardless of the original intent.

It is imperative that we exercise caution. If we are going to relay information, we need to be sure to at least verify, or offer a caveat that it has not been verified, before passing it on. Even when we are the originators of such information (such as our own listings), we need to double-check before submitting . . . once it is out there, we lose control and are unlikely to be able to track down (or remember even), all places on the Internet where it can now be found. And we need to be careful in what we say publicly AT ALL TIMES.

Like many of you, I am dealing with retracting my hasty announcement to buyers regarding the $8000 tax credit (fortunately, this is a defensible position as I simply forwarded a link to the announcement on the REALTOR.org media page itself, and didn't try to explain or elaborate, but still . . .). I have found myself deleting comments on FB and blogs to try to head off a potential issue . . . yet sometimes it is too little, too late.

As mentioned in my earlier post, the future trend appears to be swift, direct communication from source to targeted end user, without a middle man. We now have the power of self-publishing in our ends. We need to ensure that we also fulfill the role of self-editing.

Marketing and Information Sharing: What Does the Future Hold?

Sun, 17 May 2009 16:31:37 -0500

Came across an interesting blog post on baekdal.com the other day entitled "Where is Everyone?". The article explores the historical trend in information sharing from local community, through newspaper, radio, and TV, to the Internet and our current social networking trend. What was interesting was the author's theorization that we will very soon see a point where all communication moves directly from source to end target, elimating the "middle man".

I'm sure the phenomenal growth of Twitter had a lot to do with this notion . . . as we are now able to obtain information directly in real time from eyewitnesses, manufactures, retailers, professors, doctors, city hall, or our favorite rock star -- whatever our interest is -- without a lot of digging or waiting.

Baekdal's accompanying diagrams show to what extent, and for how long, each media form has dominated over the years. A noteworthy trend for me was that each successive form of media seems to hold its position for a shorter period, and to a lesser degree, as technological advances leap forward and render the earlier form less significant.

I think the theory is on the right track in terms of a trend in information sharing being more toward direct distribution, but as many of the commenters pointed out . . . few have been able to predict the future of communication or the "next big thing", for the simple reason that we are always basing our assumptions on current knowledge of existing technology. We don't know what technology will exist ten years from now and can't begin to foresee it or prepare for it. We just have to closely track what's happening around us and respond to it as best we can . . . as has happened with the swift transition from websites to blogging to social networks to micro-blogging, and whatever's next.

While I don't necessarily agree with all the conclusions reached in the article, (for one thing, I don't see all current forms of media becoming totally obsolete within the next 5-10 years), I support the idea that the information we receive will be far more highly targeted and customized to our individual needs than at any time in history.

Agree or disagree, for me the piece certainly helps stimulate thought on where we are headed with the information revolution we are experiencing, and how it is likely to affect the real estate industry in years to come.

Any other thoughts on how information will be relayed in the next 5-10 years?

Jasper GA Land for Sale at a Great Price! 3+ Acres in Established Pickens County GA Neighborhood - $44,900...

Sun, 10 May 2009 21:59:47 -0500

*** SORRY, THIS LISTING HAS SOLD! ***

LAND FOR SALE: LOT 15 AUTUMN COVE RD, JASPER - PICKENS COUNTY - GA

Don't miss out on this three acres of lightly wooded, level to sloping, land for sale . . . close to Jasper Georgia.

Located in the well-established neighborhood of Hickory Cove in Pickens County GA, this acreage for sale is an excellent opportunity to own a serene, semi-private residential lot at a below market price. With soaring shade trees and minimal underbrush, a huge level expanse along the front of the property, and easy access to the cul-de-sac street frontage, this is an ideal lot for building that dream home, whether on a basement, crawl space, or even a slab.

In a subdivision of estate-sized lots, with a small community lake available to residents, the location and setting of this land has much to offer. Just 3-miles from Jasper off Cove Road, and backing up to the gated resort community of Bent Tree, it is in a convenient and popular area of the county, without the restrictions found in many similar developments.

A quiet side street. A pristine, level to sloping tract of land. A small, unpretentious subdivision of private homes on wooded lots. A great price. Take advantage of this opportunity before it's gone . . .

View a virtual tour at http://www.Lot15AutumnCoveRoad.Info

LISTED FOR SALE BY BROKER:

Trent D Cluley
Keller Williams Realty - Select Partners
678-493-2100

Keller Williams Realty Charity Tennis Tournament at Bridgemill Tennis Club, Canton GA, May 13 2009.

Tue, 05 May 2009 08:29:46 -0500

A tennis tournament in support of Vision Atlanta / Camp Grace will be held Wednesday, May 13th, 2009, at Bridgemill Tennis Club in Bridgemill community, Canton GA. Sponsors, players, volunteers and donations are very much needed, with all proceeds going to support Vision Atlanta's work with at-risk and disadvantaged youths.

There will be morning and afternoon sets from 9-12 (A Team), and 1-4 (B Team), at a cost of only $35 per player, which price includes lunch. Not a bad deal . . . a couple of hours of tennis, food, good fun, and support of a worthy cause, at minimal cost. Call or email to sign up as a player or sponsor today. Everybody welcome!

For more information, see below flyer, or contact Terry Hyde / Wilma Hebrank at Keller Williams Realty - Select Partners, 678-493-2100. Thanks for your support!

Pickens County Georgia Real Estate Sales Data for March, 2009

Sat, 02 May 2009 12:02:31 -0500

While the number of homes placed under contract in the month of March improved over February's numbers (which is to be expected at this time of year), in my opinion, the number fails to indicate a significant turning point in the local housing market.

Out of 500+ homes for sale in the Jasper Georgia area, eighteen pending sales is a relatively small number, and is still almost 36% below numbers posted in March 2008 -- an already declining market. When compared with March 2007, the number of houses sold last month reflect a drop of greater than 50%, so certainly nothing worthy of note.

With the average list price of homes placed under contract falling between $195,000 - $200,000, here too we see a shift from prior periods where average sale prices were greater than $220,000. Only one of the eighteen homes to find a buyer in March was priced over $300,000 . . . a sure concern for sellers of higher-priced homes, who are having a harder time selling at this time. A fact reflected in the growing number of price reductions seen in this price range.

Of the 18 sales, seven were listed as foreclosure, lender owned, or corporate owned . . . nearly 40% of the total, not counting short sales and other must sell situations. The impact on sellers not in a distress sale situation is obvious. While there are those in the industry locally who argue that foreclosures are a minor matter, unlikely to have an impact on pricing, the facts speak for themselves . . .

Inventory of houses for sale in Pickens County GA reached 549 homes on market, marking a steady climb back up after having dropped below 500. At current sales levels, this corresponds to 3-years worth of inventory! Forty-four of these are bank-owned REO homes -- making foreclosures roughly 8% of all available homes for sale.

Despite the lack of positive news in this update, it is not all as bleak as it seems . . .

Aside from previously mentioned government efforts, low interest rates, and lower housing prices, March showed a sharp uptick in consumer confidence (essential to any correction), first time home buyers began making their presence felt in greater numbers around the country (important, as these buyers have no home to sell and buy the lower-priced homes of potential move-up buyers, creating a chain reaction), and . . . a review of April's numbers are looking somewhat promising.

I am going to be very cautious in trying to call a "bottom" or turnaround in the housing market in the North Georgia area, but am certainly keeping an eye out for anything that might represent good news or a sign of improvement, and April may be it . . .

Feel free to contact me for specific info about your street, neighborhood, or town!

Arbor Hills, Jasper GA: NEW Home For Sale at Bargain Price!!!

Sun, 12 Apr 2009 16:19:43 -0500

*** SORRY, THIS LISTING HAS SOLD!!! ***

FOR SALE: 50 ARBOR HILLS CIRCLE, TALKING ROCK GA 30175
MLS#: 3888036
$165,000
$155,000!

What a great opportunity to own new construction in the popular swim & tennis community of Arbor Hills in Jasper GA! This 3 bedroom, 2 1/2 bathroom home, with bonus room and full basement, offers all the space and finishes you need, at a price significantly lower than other new homes have been listed for sale in this neighborhood.

A 2-story foyer and formal dining room with judge's paneling create a sense of elegance from the moment you walk in the door. A lofty living room, complete with stone fireplace, wood floors, and vaulted ceiling flows into a bright breakfast area (which opens onto the back deck), and a roomy kitchen. The kitchen has ample cabinet and counter space, with a well-designed work area and easy access to the dining room.

The master suite on main offers a trey ceiling, ceiling fan, and roomy private bathroom . . . complete with double-vanity, garden tub, separate shower, and walk-in closet. Also on the main level, are a full laundry room, two-car garage, and half-bathroom, for the best in convenient living!

Upstairs, a catwalk overlooking the living room and foyer connects two secondary bedrooms (one with excellent mountain views), a large bonus room, and a full bathroom, while downstairs a full walkout basement, stubbed for an additional bathroom, provides space for additional storage and expansion if needed.

The exterior is as feature rich as the interior, with a back deck, covered front porch, concrete siding, and sodded yard to provide that little "extra touch" not usually found in homes within this price range.

All of this on a quiet cul-de-sac side street in the convenient Arbor Hills neighborhood, close to Jasper, Talking Rock, and Highway 515 in Pickens County GA. Community amenities include a homeowner's association, clubhouse, swimming pool, tennis courts, sidewalks, streetlights, and underground utilities (public water & sewer, electric, phone/dsl, natural gas).

This immaculate new cottage-style home for sale in Arbor Hills is a deal not to be missed, at only $165,000! Call or email today for more details, or view a full virtual tour at . . .

www.50ArborHillsCircle.Info

Listed for Sale by Broker:

Trent D Cluley
Keller Williams Realty - Select Partners
678-493-2100