We saw a significant increase in appraisal requests for Lake
Lanier in Janaury, not quite as many for February. But the people requesting these appraisals were potential buyers and sellers, not refinance deals. So things are looking up on Lake
Lanier, it is getting close to spring, prices are very attractive and now is the time to buy!
We have noticed that those with good water are hanging tight on their listing prices as they should! Good water is a premium right now and if you still have water at your dock, then you most
definitely have DROUGHT proof lake property.
With the rains that we have been blessed with over the past few weeks, the lake has come up 3 feet since December! We are at 17.66 below full pool as of 2/25/08. Terrific news. Plus we had a good downpour today.
We have appraised some homes selling in the $500,000 range recently with no water at the dock, but the water was within a stones throw of the dock. Buyers realize the water will come back and their investment will be protected.
If you have to sell your lake home without water, realize that it is difficult for people to feel confident that the water will return and their
perceived value of your home is not going to be equal to your
perceived value. Feel free to refer them back to my previous post that outlines lake levels over the past 25 years. The water has dropped many times below the 1060 mark, but it has always
come back. It will take longer this time around, but if it keeps raining like it has, we could be back in action by next season!
If you are thinking of buying or selling on the lake, get professional advice first from a realtor or an appraiser who knows this lake!
Yours truly can help you on the appraisal front.
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Thanks for stopping by and check back often for more updates on Lake