When: Saturday December 3rd, 2011 @ 2:00 P.M.

Where: Downtown Blairsville on the Square

Festivities begin around 11:00 A.M. Saturday morning at the Old Historical Courthouse on the Square in Blairsville, GA.

This is a Brand New Foreclosure For Sale located in a Gated Cabin Community not too far from Blairsville, GA. Incredible North Georgia Mountain Views from this 3 Bedroom, 3 Full Bath Cabin featuring a Detached 2 Car + Garage, Covered Front Porch, which has been very well maintained. Cathedral Ceilings, Rock Fireplace, Open Loft Area, and a Full Finished Basement.

The Price Has NOT Been Determined On This Property.

Please call me, Chad Lariscy at 706-994-8686 or email me at Chad@BuyMountains.com for more detailed information or to be placed on a list to be notified as soon as this property hits the MLS and a price has been determined.

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• 54 Rocky Road – New Foreclosure For Sale In Blairsville, GA. (thefrontporchview.com)
• Recent Price Reduction On This Blairsville Foreclosure For Sale (thefrontporchview.com)

332 Loftis Mountain Way – HOT FORECLSOURE In Blairsville, GA. from Georgia Mountain Real Estate on Vimeo.

Recent Price Reduction on this Nice Foreclosure For Sale located within an upscale community of Mountain Homes just outside of Blairsville Georgia. 3 Bedroom 2 Full Bath Ranch Styled Home featuring a Split Floor Plan. The Home is situated on a 1.42 Acre Gentle Lot backing up to woods offering Privacy. There is a 2 Car Garage with a Huge Finished Bonus Room above, Full Unfinished Basement complete with Boat Door and stubbed for a 3rd Full Bath.

For more information on this Property or other Great Bank Owned Homes For Sale in the North Georgia Mountains, please Contact Me. If you would like to receive a Full Length Video of this property, just let me know by contacting me above.

Listing Courtesy of Mountain Options Realty

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• 54 Rocky Road – New Foreclosure For Sale In Blairsville, GA. (thefrontporchview.com)
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52 Harrell Mauney Road Blairsville, GA. – New Foreclosure from Chad Lariscy on Vimeo.

52 Harrell Mauney Blairsville, GA. 30512

New Foreclosure For Sale that hasn’t even hit the North Georgia Mountain Foreclosure Market located in Blairsville Georgia.

This property is situated on 14.72 Acres bordering the USFS which leads to Lake Nottely only a short distance away. Property features a Detached Garage with Apartment above, Carport, Above Ground Pool, Fencing and more. The Home is a 3 Bedroom to 4 Bedroom Home with 3 Full Baths. Property was under major renovations at time of Foreclosure and will need some work. Property was acquired in 2006 at $405,000 and currently Union County has it assessed at $373,752. A Price has not been placed on the property at the time of this post, however it is believed that it will be priced in the low to mid $100’s

Please Contact Me for more detailed information or for a Full Length Video Walk Thru of this property.

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• New Upscale Foreclosure For Sale In Blairsville GA (thefrontporchview.com)

159 Loftis Mountain Blairsville Georgia

Incredible Deal on a Foreclosed Home located in the upscale community of Loftis Mountain convenient to Lake Nottely and Downtown Blairsville, GA.

This Traditional Home has a total of 4,897 Square Feet according to the Union County Tax Assessors website, who also has a total assessed value of $409,978. You do the math, if this home is purchased at FULL PRICE, that is $52.89 a square Foot. Unbelievable!

Please Contact Me if you have any specific questions or concerns with this Home For Sale In Blairsville, GA. I would appreciate very much the opportunity to earn your business, providing you with more value in your North Georgia Mountain Real Estate transaction that you ever could have expected.

Click Here For More Information

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Median Sales Prices for Homes Sold in Blairsville was down 23% from April 2009, and it was also down 9% from March of this year. The Median Price of Homes For Sale in Blairsville, GA. is also down 5% , from $209,000 to $199,000.

Sales were down in April from 31 in March, to only 18 in April. That is a change of 42%. Of those 18 Homes Sold in Blairsville, 39% of them were Foreclosures.  There were 21 Homes Sold in Union County in April 2009. Our Northeast Georgia MLS system is not set-up to accurately report the number of Short Sales that occurred within those sales.

There is Good News for May however. The number of Pending Sales in Union County was up 45% in April. These are properties that are currently under contract but have not closed. Typically, these properties close between 30 – 45 days. Looking back on Pending Sales in March, there were also 32 Homes Under Contract in Blairsville as in April. That means that either half of those deals fell through, or it is indeed taking a little longer with the New Changes to the Real Estate Settlement Procedures Act (RESPA) to close the transaction.

The number of New Properties For Sale in Blairsville climbed a little in March, but fell again in April. Overall, our inventory is slowly coming down bringing back into align the law of economics…Supply and Demand. We have gone from 860 Homes for Sale in Blairsville in April of 2009, to 711 available on the market in April of 2010. That is a change of 17% year over year.

The Average Days on Market (DOM) spiked 51% in the month of April to 170 days, up from 112. However with inventory coming down, and sales holding somewhat with a very slow and steady climb, our Absorption Rate is coming down. Our Month Supply of Inventory (MSI) is down 44%.

Should you have any questions or concerns with anything that you see in this report, please Contact Me. You may also call me at 706.994.8686, I will be more than happy to answer any question or concern that you may have. If I can assist you or anyone you may know that is looking to purchase a Home For Sale in Blairsville, GA., or anywhere here in the North Georgia Mountains, I would be grateful for the opportunity.

Existing Home Sales rose in March, as expected. U.S. home buyers closed on 7 percent more homes as compared to February.

Furthermore, versus March 2009 — a month many people equate to the low point of the U.S. economy — sales volume was up 16 percent.

“Existing home sale” is the technical term for a home resale; a home previously inhabited by a person.  It’s the opposite of a “new home sale” which is a sale of a newly-constructed home.

Existing Homes Data is tracked by the National Association of Realtors® and a closer look at the March data reveals some other interesting notes:

1. Year-over-year sales are higher for the 9th straight month
2. Real estate investors represented 19 percent of all homes purchased
3. First-time home buyers account for 44 percent of all buyers

Also worth noting is that the supply of available homes is down on a broader basis.  At the current rate of sales, the existing home inventory will be exhausted in 8 months.

Despite banks releasing foreclosures and REO into the North Georgia Mountain market, that’s still one half-month less from February.

North Georgia Foreclosure Sales Percentages % YTD

• Fannin County – Blue Ridge, GA. 28.70% Homes SOLD 108 / Foreclosures 31
• Gilmer County – Ellijay, GA. 41.03% Homes SOLD  78 / Foreclosures 32
• Union County - Blairsville, GA. 37.04% Homes SOLD  81 / Foreclosures 30
• Towns County – Hiawassee, GA. 46.43% Homes SOLD  28 / Foreclosures 13

When supplies drops, home prices tend to rise. It suggests an underlying strength in housing that should support home prices through the next few months — especially as the home buyer tax credit finishes working its way through the system.

That said, real estate markets are local. You shouldn’t assume that what’s happening on the national level is also happening here at home.  Be sure to check with your real estate agent about local market conditions before making a decision to buy or sell.

A great overlooked community near Blairsville in the North Georgia Mountains is Arden Acres.  Arden Acres is located conveniently between Blairsville and Blue Ridge, GA. less than a mile off of 515 the Appalachian Highway. Once an old Union County family farm, Arden Acres enjoys beautiful Mountain and Pasture Views surrounded by aged old Hardwood Trees, painting an absolute gorgeous Mountain Portrait.

Currently there are many Vacant Lots For Sale within Arden Acres.  At this time, there are not any Residential Listings within the development. There are a few Vacant Lots that are being offered as a re-sale. One of the most important restrictions that I should point out to you is that the minimum square footage for a home within Arden Acres is 1900 sq.ft. total heated space less patios, carport, basement, and garage.  In addition to that, 1700 sq.ft. has to be above ground. Other covenants and restrictions are some what common for our area, items such as no mobile homes, no businesses, no commercial styled signage, and many other items that need to be closely looked at.

If you have any questions or concerns about Arden Acres in Blairsville Georgia, please Contact Me, or give me a call at 706-994-8686. I would be grateful for the opportunity to answer any questions or concerns that you may have, as well as offer any additional information that might be made available to me.

Make it a GREAT day!

Fewer homes went under contract in January as the housing market continues to limp through the winter months.

According to the National Association of Realtors®, the Pending Home Sales Index fell to its lowest level in 3 quarters this January. By contrast, in October 2009, the index had touched a 3-year high.

The Pending Home Sales Index measures the number of homes that have gone under contract to sell, but have yet to close nationwide. It’s compiled using data from more than 100 regional listing services and 60-plus brokerages  — the sample set encompasses 20 percent of all home resales in a given month.

Economists have come to rely on the Pending Home Sales Index because of its high correlation to actual home sales. 80% of all home marked “pending” close within 60 days. Many of the rest close within 120.

Therefore, when we see Pending Home Sales show weakness like it did in January, we can infer that home resales will remain weak through the spring.

But will they really?

1. Fewer sales should drag down home prices, bringing more buyers into the market
2. Mortgage rates are still very low, but are poised to rise in just a few weeks
3. The home buyer tax credit requires buyers to be in contract by April 30, 2010

In other words, there’s a confluence of factors that could lead to a rush of sales in Blue Ridge and Blairsville and around the North Georgia Mountains over the next two months, reversing the housing market’s recent momentum.

That’s all for the negative, isn’t that nice? Now for some good news. The number of Homes Sold in Blairsville Georgia continues to climb. Union County home sales are up 18%, which sounds a lot better than if I were to say 4 more than October of 2008. It is still positive news any way you slice it. The Residential Inventory in Union County is decreasing each month, down 15% or 137 fewer Homes For Sale this October. The number of Homes that are Under Contract or that have gone Pending is also up 7%, a change of 2 from last October. With new construction still very slow, our number of new properties listed are way down, 37% which is 40 less new listings than we had a year ago. This may not sound like good news, but I actually believe it is. We have  a lot of old inventory that we desperately need to get rid of so that more and more new construction can begin again. Finally, our Absorption Rate is down 17%. This tells us the number of months that it would take to sell all the Residential Inventory that we currently have at current market conditions. Right now that number is 23 months.

Thanks so much for coming up on “The Porch” for another North Georgia Mountain Market Report. I really appreciate it and hope that you do come back again real soon. If you know of someone looking to Buy or Sell North Georgia Mountain Real Estate, I would be grateful if you would pass along to them My Contact information. Even better, forward them this post or a link to The Front Porch View.