One of the things I have noticed on the news and in general conversation is that “flipping” or “real estate speculation” often has a negative connotation. Personally, I think it gets a bad rap. It’s investing - the same principle as investing in the stock market or starting your own business. I have done all three and my goal was ultimately the same - to make money. Time frames for the investment may differ, but the end goal remains the same.
Currently, investing on Lake Lanier might be considered a longer term investment than in past years. We have the drought, a depressed real estate market, and a volatile stock market. All of these factors play on the psychology – and pocketbooks – of both buyers and sellers. Any of these things separately can have a negative impact on those buying or selling lake property, but all three combined can be catastrophic. UGH!
On the bright side, the lake has been down before (plenty of times) and has always come back up. At least this time our lake level has gotten a lot of attention from local, state and the federal government, so there should be more effort to keep lake levels as close to full pool as Mother Nature will allow. Also, developers of ongoing commercial projects are closely monitoring lake levels and applying pressure to whomever they can to insure that their investments thrive now and in the future. The real estate market will pick up and Congress raising jumbo loans to $750k can only help future sales on the lake.
For some, it still seems too risky to buy on the lake because we don’t know how fast the lake level will come up or when the real estate market or the stock market will stabilize. If you don’t have a pile of cash or the intestinal fortitude to buy now, this is the time to do your homework so that you will be ready when the conditions (lake levels, real estate market, stock market) improve. You’ll then be able to get in and make the most of your investment.
Anyone who has been involved with property on Lake Lanier over the past few decades, either professionally or as a homeowner, knows the potential that this lake has for investment income.
Let me know your thoughts. Comment on the blog or contact me directly.
Thanks,
Ty Ginac
678-467-5150
www.lakelanier1.com
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