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Archive for October, 2010
Towns County Residential October 2010 Market Report
Towns County surprisingly is the only County in the North Georgia Mountains that I serve that has experienced an Increase in Median Sold Price. Now granted, it isn’t much, but to be the only one of 4 counties is actually saying something. The Media Sold Price for homes Sold in Hiawassee Georgia was up 1% in September 2010, over the previous year. The Median Sold Price was $226,000. The Median For Sale Price however is down 8%, down $20,500 from $249,500. The number of Homes Sold In Hiawassee was up an amazing 56%! There was 14 Homes Sold In Towns County in September of this year. Again with a little good news, comes a little bad news. The number of Homes Under Contract in September of this year was down 17%, only 10 instead of the 12 Under Contract last year.
The number of New Listings hitting the market in Hiawassee was also down 15%, down to 41 from 48 last year. Also, the total number of listings, or homes for sale in Towns County was down 7%. There was only a total of 494 Homes For Sale as opposed to 533 last September. .
The Average Days On Market was down 7% to 183 Days. This was down 15 Days from 198 in the previous year. The Month’s Supply Of Inventory, or the Absorption Rate was up 14% to 45.8. That is the number of months that it would take to deplete the Inventory at today’s current market conditions.
I hope that you have found this Towns County Real Estate Market Report to be useful. If you are planning on purchasing a home or property in the Hiawassee area, or other areas in the North Georgia Mountains, please Contact Me. I would be grateful for the opportunity to work with you, and to assist you every step of the way.
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The 2010 Fannin County Visitor’s Guide
The Fannin County Chamber of Commerce along with Southwinds Technologies, Inc. have done a phenomenal job in creating the Fannin County Visitor’s Guide. Be sure to visit the Chamber’s website for great information about virtually everything you would need in Blue Ridge, GA. and the surrounding areas within Fannin County.
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Gilmer County Residential October 2010 Market Report
Leaves aren’t the only thing falling in Gilmer County. Much like that of the surrounding counties in the North Georgia Mountain Real Estate Market, the Median Sold Price for Homes Sold in Ellijay, GA. has dropped 10% from September of 2009. The Median Sold Price for residential sales in Gilmer county dropped $15,500 to $137,500. The Median For Sale Price for Gilmer County also dropped year over year 7%, a change of $15,000 to $199,900. What is more staggering than that is the fact that there were 13 fewer homes sold in September this year, than the 35 Homes Sold In Gilmer County last September. The number of Homes Under Contract in Ellijay were also down 8%, down to 37 Pending Sales from 40 a year ago.
The number of New Listings For Sale In Ellijay being offered on our MLS was down 10%. The total number of Homes For Sale in Gilmer County was down 5% from September 2009 to a total of 819, a change of 41 homes. The Average Days On Market (DOM) was down 17% to 156 days. The Months Supply of Inventory, also known as The Absorption Rate, was up 2% to 19.3 months. The Absorption Rate tells us home many months it would take to sell all the homes available under current market conditions.
I hope that you have found this Gilmer County Real Estate Market Report to be useful. If you are planning on purchasing a home or property in the Gilmer County area, or other areas in the North Georgia Mountains, please Contact Me. I would be grateful for the opportunity to work with you, and to assist you every step of the way.
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When: Saturday October 30th, 2010
Where: Apple Mountain Arts Center
Apple Mountain Art Center has a Haunted Hotel! Come support us and promote the local theater coming to downtown Ellijay.
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When: Saturday October 30th, 2010
Where: Brasstown Valley Resort
Who’s hiding in the hollow? What’s rustling in the hay? Experience eerie sensations in the night at Brasstown Valley Resort & Spa’s annual Haunted Hike. Path opens to the public at 7:30pm. Children 12 years of age and under must be accompanied by a parent. This is a scary event parental discretion is advised. There will also be refreshments and Hayrides during the event.
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When: Saturday October 30th, 2010
Where: Downtown Blue Ridge Georgia
Hundred’s of costumed kids and grown-up kids plus your pets are welcome gather in downtown Blue Ridge to celebrate. Fun begins at 6:00 and runs until 8:30. Costume contest begins at 6:15, with a pet contest at 7:30. Halloween Movies in the park beginning at dusk.
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When: Saturday October 30th, 2010
Where: Downtown Blairsville on The Square
Trick or Treat at Hometown Halloween with treats from businesses and organizations gathered around Downtown Blairsville. Other activities are being organized by the Downtown Development Authority.
At 3pm North Georgia Beverage’s Pumpkin Carving Contest will be judged.
All are welcome at this “Spooktacular” Event.
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There are few things in life as exciting as buying a North Georgia Mountain Home. However, since homes are one of the largest purchases most of us will ever make, home buyers should take reasonable steps to protect themselves in the home buying process. This is the final reason in a series of posts that contained some general suggestions on how buyers can do this.If you missed the previous 9, just finish reading this post and they will be listed at the bottom.
The information that I am providing to you is taken from Form F-13 Protect Yourself When Buying A Home from the Georgia Association of REALTORS®, Inc.
The Final and Most Important way to Protect Yourself in my own humbled opinion.
10. Choose A REALTOR®
A REALTOR® can help guide buyers through the process of buying a home. REALTORS® typically have valuable knowledge regarding the price at which other homes in a neighborhood sold, and how to negotiate various terms in a purchase and sale agreement and the features of different homes. REALTORS® can also provide buyers with and help them fill out a pre-printed purchase and sale agreement form. REALTORS® routinely work with and, upon request, can provide buyers with the names of attorneys, mortgage lenders, home inspectors, termite companies and persons providing other services relating to real estate transactions. REALTORS® agree to abide by a Code of Ethics in their professional dealings. Therefore, when buyers need help in finding the right home, they should always choose a REALTOR® First!
I do hope and trust that you have found this series of advice to Home Buyers not only in the North Georgia Mountain Real Estate Market, but typically anywhere. Should you have any questions or concerns before then, please feel free to Contact Me, or call me at 706-994-8686 for any Real Estate advice you might be seeking.
If you missed the First 9 Ways To Protect Yourself When Buying A Mountain Home, Please Click below to catch up on those.
#1 Reason; #2 Reason; #3 Reason; #4 Reason; #5 Reason; #6 Reason; #7 Reason; #8 Reason and #9 Reason.
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Foreclosures are a big part of the housing market, with distressed properties accounting for 35 percent of all home resales last month, according to the National Association of REALTORS®.
But for as common as foreclosures can be, they remain a localized concern. Data from foreclosure-tracking firm RealtyTrac shows that more than half of last quarter’s foreclosures came from just 19 metropolitan areas, with the Miami-Fort Lauderdale are accountable for the largest number of filings.
A “foreclosure filing” is defined as a default notice, scheduled auction, or bank repossession.
On a per-household basis last quarter, the Las Vegas area was hardest hit. 1 in every 25 households received some form of foreclosure notice.
The RealtyTrac report features other interesting figures, too:
- California, Florida, Arizona and Nevada account for the top 10, and19 of the top 20 metro areas for foreclosures
- Compared to Q3 2009, foreclosure activity dropped in 72 metro areas, including No. 2 Cape Coral/Fort Myers, FL
- Foreclosure activity dropped 1 percent from Q3 2009 in the nation’s 20 most-populated cities
And, despite a 27 percent increase in foreclosures from the second quarter, Utica/Rome, NY posted the lowest foreclosure rate in the nation — 1 for every 8,003 households. The next closest city, Charleston, WV, posted 1 for every 2,600 households, by comparison.
Foreclosures, like everything in real estate, are local. For instance here in the North Georgia Mountains, Foreclosures have made up 49% of the sales in Towns County, 41% in Union County, 39% in Gilmer County and 32% in Blue Ridge located in Fannin County. And buying them is “different” from buying a typical home resale. If you’re planning to buy a foreclosed home, Call Me at 877.633.8186 for specific experience with homes in foreclosure. Professional advice is helpful.
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Blairsville Realty Fall 2010 Newsletter
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