Lake Lanier Market Update

This is a short overview that we recently sent our clients.

As for Lake Lanier:

There are currently 370 properties for sale in the $250,000 to $700,000K range.

For the time period of January to May 2010 in the $250,000 to $700,000K range:

There were 67 homes sold with an average price of $389,303

There are 27 pending sales with an average price of $433,025

During the January to May 2010 time period for condos on Lake Lanier:

14 currently for sale with an average price of $173,150

13 sales with an average price of $232,015

Barb and I continue to see a large number of lake properties available. Eventhough the properties are not selling, the owners have not significantly lowered the prices. Most of them have no sense of urgency to sell. We do see the occasional foreclosure which gathers interest. Overall a slow market as the second home market remains flat.

IF YOU ARE LOOKING FOR LAKE LANIER EXPERTS TO SHOW YOUR PROPERTIES LOOK NO FURTHER. THE WELLS TEAM MEMBERS LIVE HERE! LET US HELP YOU FIND YOUR NEXT LAKE PROPERTY!

Check out our lake listings at www.randywellsteam.com

Chestatee Neighborhood, Dawsonville Ga, Market Update

We recently sent out this market update to our clients:

The summer is heating up bout our market seems to have cooled slightly.

We wanted to start with some recent statistics:

Here are the May statistics for Dawson County:

426 homes for sale throughout the county

24 sold in May

29 Pending (under contract but have not closed)

Dawson County has a 14.7 months of inventory.

The average home sits 110 days on the market.

When the home is sold it is receiving 93% of its current list price

Positive points about the preceding numbers:

The number of day that the average home is on the market has dropped 21.4%

The final price received has gone up 4.5%

Chestatee update: Barb and I have some clients that we are currently working with on homes in the neighborhood. At the same time other clients have disappeared. Some of them have grown nervous in the decline of the stock market, others appear to be on a different page then their significant other, and others cannot the find the "perfect house". Our phone calls from real estate agents has also decreased. The amount of activity at this time of year will also decrease slightly as summer vacations begin for most families.

There have been four recent sales in the neighborhood. All of them were foreclosures with prices ranging from $319,000 to $855,000. That portion of the market continues to intrigue buyers in search of the bargain. We have also seen three homes advertised for foreclosure in the newspaper. Unfortunately this continues to hurt all of you with your homes as we try to compete. Pricing pressures continues.

THE CHESTATEE NEIGHBORHOOD CONTINUES TO HAVE GREAT OPPORTUNITIES! IF YOU ARE INTERESTED IN THE ONLY GOLF COURSE/LAKE LANIER NEIGHBORHOOD GIVE US A CALL! BARB AND RANDY, OF THE WELLS TEAM, ARE BOTH 10 YEAR RESIDENTS OF THE NEIGHBORHOOD WHO HAVE RECORDED THE MOST RESALES!

GO TO OUR WEBSITE AND SEE OUR CHESTATEE LISTINGS: www.randywellsteam.com