Sales across Cherokee County for the first quarter fell 34% from 2007 to 2008.  In January to March 2007, there were 851 closings in Cherokee County, versus 558 sales for the same period in 2008.  Additionally, the foreclosure rate in Cherokee County doubled from March 2008 to April 2008, which will result in further pressure for prices to decline.

Recent interest rate reductions and the BEST prices and DEALS for real estate in 20 years, plus the spring market will bring out buyers, making it critical for sellers to know what to do to stand out among the masses of homes on the market!  Professional Marketing, condition, and price are critical.  Offering a home as a "lease purchase" can also open more doors, especially with buyers who need to sell in another state before they can buy in GA.  I have recently done two lease purchase contracts in Bradshaw Farm and one in Lake Arrowhead.  Getting a sizeable upfront non-refundable deposit, plus adequate rent to cover carrying costs, will give a seller either a sale in 12 months or buy some time until the market improves if the buyer doesn't end up closing....either option might be a win-win for a buyer and seller in this market!