Real Estate Blog - Price Is Right - Blue Ridge Mountains

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Price Is Right - Blue Ridge Mountains

The North Georgia Blue Ridge Mountain real estate market is primarily a second home, discretionary market. This fact alone could cause mountain properties to take longer to sell than properties in primary markets because a buyer who already owns a home must choose to spend money to buy a second home in an uncertain economy.

The overall real estate market (consisting of Fannin, Gilmer, Towns and Union Counties) is being called stable by some local appraisors. Have We Hit Bottom ? Well, we won't really know until prices start going up.

One of the challenges currently facing Realtors in assisting home sellers in the current market, is preparing a Comparative Market Analysis (CMA) to determine a competitive listing price while trying to achieve the highest possible price for the seller. A computer model cannot do it all, which is one of the many ways a Realtor brings value to the selling process.

Properties that sold as little as six months ago would normally be considered a fair comparable but since prices have fluctuated, it takes more indepth analysis by the Realtor to determine the best possible comparables. Another words, a property that sold six months ago may (or may not) be outdated when preparing a Comparative Market Analysis today. A Realtor's experience and analytical skills are paramount during these times to make the right determination. Remember, the market sets the price, not the Realtor. See the latest market information: July Market

Motivated sellers must price their property competitively and do those things necessary to make the property stand out from the competition. With 3152 residential homes for sale (as of August 15, 2008) in the four counties menitoned above, it's imperative to "Price it Right" and provide a buyer with accurate details about the property for sale plus schools, taxes, utilities and zoning information. Sellers should ensure that their property is in good repair and "de-clutter"! Help the buyer envision living in your home.

CLICK HERE: NORTH GEORGIA FORECLOSURES, BANK OWNED PROPERTIES

Great North Georgia Mountain Properties

Cedar and Stone is a Great Mountain Home!

Great Starter Home ! Priced Below Appraisal - Save $$$ !
Private setting intown, walk to Toccoa River across street
143 Pantertown Circle, McCaysville ----- > Click to see Video

Complete Peacefulness ! Just Bring Your Toothbrush!
Relax in hot tub and take in nature's serenity
207 Lords View, Mineral Bluff ----- > Click to see Video

Donna Yates, Georgia Realtor
Coldwell Banker High Country Realty
706-633-0644 cell 706-632-7311 x252 office
Primarily serving the North Georgia Blue Ridge Mountains
Fannin, Gilmer, Union and Towns Counties

Websites:

My North Georgia

Move 2 North Georgia

Email:

donna@ellijay.com

donna@mynorthgeorgia.net

Posted by Donna Yates, Georgia Realtor Georgia Real Estate,Blue Ridge Mountains on 08/15/2008 07:43 PM

Comments (17)

north georgia blue ridge mountain real estate, fannin, gilmer, union, towns, second home, home sellers, home buyers, log cabins

Originally posted at: North Georgia Blue Ridge Mountains Real Estate Blog, Donna Yates, Realtor: Price Is Right - Blue Ridge Mountains

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17 Comments on Price Is Right - Blue Ridge Mountains

AUG

2008

Donna,

What a beautiful area. How is it holding up in this market?

Great post and some nice links to your listings. One question: Does the state "overtax" the owner of the secondary home like the state of Florida does?

Hi Donna, we love the North Georgia Mountain area! You live and work in a wonderful place, I hope that things continue to stabilize for your area. Thanks.

AUG

2008

The Manders Group: The market is holding up pretty well all in all. We have not had the downturn nearly to the degree other markets have. Our list to sold % is down from 94.88 in 2006 to 91.88 in 2008. Not much of a decrease considering what all has been going on with the economy. We seem to be hanging in there.

Ellie: Taxes are very low here which is one of the reasons why this area is so popular. Floridians are always so surprised when they learn what property taxes are. I'm seeing more people from the north showing interest in our area and taxes is one of the primary reasons. Of course, an owner can't claim homestead exemption on a second home so taxes may be a few hundred dollars more than it would be if they could file homestead exemption. But even with that, taxes are very reasonable.

Denise: I hope the market really is stabilizing and if so, that it will continue. I am moving cautiously on trying call the market.

AUG

2008

Donna, Your area is gorgeous and with low taxes I don't believe it will stop people from purchasing a vacation home or even a primary residence. I think after a busy life we could all use some beautiful views and different lifestyle.

Carole: You nailed it! That's exactly why I am in the mountains and is one of the main reasons why so many have decided to make it their permanent place of residence or at the very least, a vacation escape. Some are buying now and planning to retire here in a few years. Very smart! Thank you.

Donna: As you say, we won't know if we are stabilized until we see prices start to rise again, but it is DEFINITELY a great time to buy a second home here in the mountains. There are some incredible bargains to be had right now on some exquisite homes with unbelievable natural amenities!

If only I wasn't an "underfunded" real estate agent right now, I'd snap some up myself!!

Great post!

If only I wasn't an "underfunded" real estate agent right now, I'd snap some up myself!!

Great post!

AUG

2008

Donna - Your research and how you analyze it is always outstanding. I have no doubt you'll see things turn around in short order

AUG

2008

Donna, love what you do with your profile and how you put your blog together. Very nice posts.

AUG

2008

Kim: I know what you mean !

Tom: You are such a kind soul. Thank you.

Rick: You've reminded me that I need to update my profile. I keep forgetting. Thank you for the nice comment.

AUG

2008

Donna - you hit the nail on the head... Price it Right to start and it will have the best chance of selling quickly!

your friend in Charlottesville!

Charles: With so much competition out there (at least in my market area) pricing right is critical for home sellers.

AUG

2008

I've noticed that there are some sectors of my market where it is very easy to estimate pricing. Then there are a few luxury locations where the comparisons are insufficient. Since credit is a very big issue today I like to talk to a few bankers and get a "soft appraisal" ... that's my word. This helps me to see if my suggested pricing will "fly" should we make an offer. I didn't have to do this before but I've been taking this approach every once in a while.

Chuck: That's a great idea. I will touch base with a couple of local appraisors usually on a weekly basis just to see where we stand. Haven't thought about talking to any bankers. Great idea.

AUG

2008

Hi Donna..I Love the Vacation Cabin, I bet you'll sell this one quickly Too, Great Post!

Thanks for sharing,Have an awesome Labor Day Weekend!

AUG

2008

Fred: Thank you for your comment. Have a safe and fun Labor Day!

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