Real Estate Market
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Since: Apr 13

blue ridge

#1 Aug 8, 2013
Anyone know how the real estate market is doing? I see that house across the marina is getting finished and another one being built nearby. Does that mean things are good?
crazyC

Copperhill, TN

#2 Aug 9, 2013
Probably no true sign of progress.. Anyone with houses on the lake are well-off and probably unaffected by the market to begin with. I know that the house across from the marina, if I am not mistaken, is currently owned by the CEO of Jiffylube inc. So he probably has the money to build anything he wants even in a dead market.

Since: Apr 13

blue ridge

#3 Aug 9, 2013
Thanks for info. Actually I'm really curious how the market is, I'm thinking of putting my house on the market. I understand the 1%ers are not a good indicator.

Since: Jul 13

Location hidden

#4 Aug 11, 2013
I'm not really sure of the general market there, but we just bought a home in the area and had to bid up $1000's to get the house we wanted if that's a good sign.

Since: Apr 13

blue ridge

#5 Aug 12, 2013
Caz67 wrote:
I'm not really sure of the general market there, but we just bought a home in the area and had to bid up $1000's to get the house we wanted if that's a good sign.
Thanks for the intel. I don't mean to be nosy but do you mind saying what price range the home was you just bought? Was it on water or a mountain view? Thanks

Since: Jul 13

Location hidden

#6 Aug 13, 2013
I wish it was on the water, but they were really expensive :( Its in the mountains...

I don't mind, we had to pay $140.000, but that was bidding up.
Im rather sus, the house had been on the market for a while, but suddenly when we bid, so did somebody else..
It was worth it,it was valued a lot higher by the bank too, so that was good.

Moving up there in early next year. Seems to be taking forever lol...
really

Blue Ridge, GA

#7 Aug 14, 2013
It sucks unless u have a cabin or a 180,000 or less house to sell.

Bottom feeders looking for somethin' for nothin'
SoGal

Blue Ridge, GA

#8 Aug 14, 2013
GeorgiaDawgs wrote:
Anyone know how the real estate market is doing? I see that house across the marina is getting finished and another one being built nearby. Does that mean things are good?
Hey Dawg....you can check out the Fannin County Assessors office website. They have a list of land/home sales on their site by month. It will give you a good idea of how things are doing. Though, I wouldn't expect it to be 100% accurate or up to date.

Since: Apr 13

blue ridge

#9 Aug 14, 2013
Thanks for the info everyone. Sounds like things still are not that good. Although I talked to a couple of builders and they said there really busy right now. Weird.
Not too good

Blairsville, GA

#10 Aug 14, 2013
GeorgiaDawgs wrote:
Thanks for the info everyone. Sounds like things still are not that good. Although I talked to a couple of builders and they said there really busy right now. Weird.
Builders and real estate people always paint a pretty picture.
Nothing is really moving except foreclosures that are cheap - that doesn't mean the housing market is improving. As long as Obama is in office, the housing market will remain as it has been or worse. People are out of work or worried about the future with this current administration.

What you see with new building is money people. There is a lot of money makers who live in the mountains. Lots of retired people who have money, too. Many of my clients have numerous homes. A lot of older people have inherited family wealth, too, as their parents pass on. Neighbor just inherited close to a mil.

Since: Jul 13

Location hidden

#11 Aug 15, 2013
really wrote:
Bottom feeders looking for somethin' for nothin'
Really?????
How much do you expect people to pay for a home in a tiny town, with next to no employment?

Oh and an FYI, we have a condo in a beach suburb here in FL, that's worth roughly what the house is worth we bought in BL..
So I wouldn't be complaining to much about prices...
As "not so good" said, the market is bad everywhere at the moment.
News reports here in Flortlauderdale city, have said its on the rise. People here are selling their homes for thousands less than what they paid ten years ago.
little doggies

Dalton, GA

#12 Aug 15, 2013
Not too good wrote:
<quoted text>
Builders and real estate people always paint a pretty picture.
Nothing is really moving except foreclosures that are cheap - that doesn't mean the housing market is improving. As long as Obama is in office, the housing market will remain as it has been or worse. People are out of work or worried about the future with this current administration.
What you see with new building is money people. There is a lot of money makers who live in the mountains. Lots of retired people who have money, too. Many of my clients have numerous homes. A lot of older people have inherited family wealth, too, as their parents pass on. Neighbor just inherited close to a mil.
"As long as Obama is in office, the housing market will remain as it has been or worse."

Wall Street cons, enabled by on-the-take politicians, created the bubble that resulted in the real estate crash. Real estate prices in Blue Ridge were artificially inflated, and worth nowhere near the prices at their peak. What the chumps, who bought at the peak are hoping for, is another bubble. Anyone familiar with the history of the market, knows that this has happened over and over - the savings and loan bubble, the high-tech bubble, etc. Just give it a little more time.
little doggies

Dalton, GA

#13 Aug 15, 2013
One more point. The bubbles are how the guys who buy the lake properties acquire their money. Every bubble shifts trillions of dollars from your portfolio to theirs. That's why it will happen again, and again, as long as the 99% are too ignorant to stop it.
really

Blue Ridge, GA

#14 Aug 15, 2013
Caz67 wrote:
<quoted text>
Really?????
How much do you expect people to pay for a home in a tiny town, with next to no employment?
Oh and an FYI, we have a condo in a beach suburb here in FL, that's worth roughly what the house is worth we bought in BL..
So I wouldn't be complaining to much about prices...
As "not so good" said, the market is bad everywhere at the moment.
News reports here in Flortlauderdale city, have said its on the rise. People here are selling their homes for thousands less than what they paid ten years ago.
The amount I have in it and it was not built during the boom.

Since: Jul 13

Location hidden

#15 Aug 16, 2013
really wrote:
<quoted text>
The amount I have in it and it was not built during the boom.
Well, I hope the market picks up for you. That must be very frustrating.
I hope it improves here too. We are trying to get the same amount for the house here as we paid for our house in Blue ridge.. But because of the cheap Foreclosures & Short Sales, it makes it very hard..
Theres a house here in the development, same design as ours, except they added a granite and wood kitchen, new bathrooms and so on.. They sold on a short sale for $80.000, makes it hard to put you're house on the market and get what its worth.
Seems like buying you're little piece of America is not the same good investment as it use to be.:(

Wrong

Blue Ridge, GA

#16 Aug 16, 2013
Not too good wrote:
<quoted text>
Builders and real estate people always paint a pretty picture.
Nothing is really moving except foreclosures that are cheap


You are very wrong. I can tell you by experience. I have to turn in federal information monthly and there are several closings. They are not REs nor foreclosures. Where are you getting your information? Gossip?
jolly roger

Blue Ridge, GA

#17 Aug 16, 2013
Even though they are not supposed to put short sale information in the local comps it seems some realtors do. They have also been known to tell prospective buyers that there are no covenents in place when there are. I guess that could happen anywhere...best advice Buyer Beware. Educate yourself and know what to expect so far as taxes are concerned as well. I have found the taxes to be more than I paid in the big city I lived in and I had a lot more services.
really

Blue Ridge, GA

#18 Aug 16, 2013
We were given a printout of the last 6 mo. of sales when we listed and 75% of the homes sold were forclosures/shortsales.

Those sales are keeping prices low.

And, it is not just here.
Local Observer

Blue Ridge, GA

#19 Aug 20, 2013
Common Sense should tell us all that it depends on your outlook or how you see a situation.....& we each see a different situation playing out! Common sense should also tell people that it is "cheaper" to have a house built in a development that was foreclosed on than it is to buy a cabin from someone who bought at the top of our market when lots were priced anywhere from 25K- to over 1M(for lake lots) with an average of $75K for a typical mountain view lot in a desirable location. We had banks who loaned money to build "specs" on these lots w/ a substantial profit built into the price for all involved! Those same lots can be picked up for 10K or less now an the price of building has pretty much stayed at aprox $100-$150 per sq ft to build your typical cabin. It just makes sense to have a brand new cabin built on a lot that was once valued 10-20 times what it can be purchased for now! People are getting very nice homes/cabins built in nice subdivisions for 1/3 of what a " spec" cabin would cost!

People who have money, in my opinion, will always have money & people who like to bitch & complain about those people will manifest nothing but the same negativity into their own lives! I am thrilled to see BR thriving & seeing contractors excited again!! Unfortunately, I would say that if you bought in the up-swing or at the top of the market and bought one of the "spec" homes that I referred to, I would suggest selling the place "by owner"...I am sure that there will be a buyer out there who will love your cabin as much as you do and will pay your asking price! I don't know that you will find a REALTOR who has a positive outlook b/c it has been my experience that the longer you are around all the negativity of the market, the more negative you will become! My advice would be to find a brand new agent who isn't a negative "Nelly or Ned" & who will be as enthusiastic about your place as you are!

Life is all of what YOU make of it...best of luck to you all!

Since: Apr 13

blue ridge

#20 Aug 20, 2013
Local Observer wrote:
Common Sense should tell us all that it depends on your outlook or how you see a situation.....& we each see a different situation playing out! Common sense should also tell people that it is "cheaper" to have a house built in a development that was foreclosed on than it is to buy a cabin from someone who bought at the top of our market when lots were priced anywhere from 25K- to over 1M(for lake lots) with an average of $75K for a typical mountain view lot in a desirable location. We had banks who loaned money to build "specs" on these lots w/ a substantial profit built into the price for all involved! Those same lots can be picked up for 10K or less now an the price of building has pretty much stayed at aprox $100-$150 per sq ft to build your typical cabin. It just makes sense to have a brand new cabin built on a lot that was once valued 10-20 times what it can be purchased for now! People are getting very nice homes/cabins built in nice subdivisions for 1/3 of what a " spec" cabin would cost!

People who have money, in my opinion, will always have money & people who like to bitch & complain about those people will manifest nothing but the same negativity into their own lives! I am thrilled to see BR thriving & seeing contractors excited again!! Unfortunately, I would say that if you bought in the up-swing or at the top of the market and bought one of the "spec" homes that I referred to, I would suggest selling the place "by owner"...I am sure that there will be a buyer out there who will love your cabin as much as you do and will pay your asking price! I don't know that you will find a REALTOR who has a positive outlook b/c it has been my experience that the longer you are around all the negativity of the market, the more negative you will become! My advice would be to find a brand new agent who isn't a negative "Nelly or Ned" & who will be as enthusiastic about your place as you are!

Life is all of what YOU make of it...best of luck to you all!
Very good advice. Are you in the real estate business? That is the best assessment I have read on here. Thank you.

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