|
Jeffery
Hughes Realty
Ball Ground Ga. Real Estate Specialist
For
direct info Call 404-576-0693 770-735-6130
email us at jguide@tds.net
Featured Listings
48 Acres Ball Ground
47.97 beautiful, rolling, wooded acres in very desireable North Cherokee County Georgia. zoned agricultural. Lots
of mature Timber. Perfect opportunity for 1031 exchange, residential development, or private estate. a proposed reservoir
to be bulit in the future will border this tract. Priced at $22,000 per acre. All Reasonable offers will be considered! Ball Ground Ga. is located 45 miles north of Atlanta of interstate 575.
__________________________________________________________________
5 Acres & Doublewide Mobile Home
600 feet of beautiful, private
creek frontage with this 5 wooded acres near BallGround Ga. 24 x 48 Garage is under construction. 1997 3br 2bth Double
wide mobile home. Live in the double wide or build your new home. Priced Right At $60,000   
For more info call : 404-576-0693 Or
770-735-6130
|
|
|
Saturday, May 31, 2008
Should You Sell or Buy Now?In light of the credit crunch and concerns over
the economy, the question most Pickens and Cherokee county home buyers as well as most sellers are asking these days, is "when
will prices in this market reach bottom"?
Well, in the last 12 months, the answer to this question depended
on who you asked. All the economist and financial gurus' seemed to have a different answer. However in the past few weeks
many of those with a gloomy forcast for the near future are beginning to lean more toward the positive side. Their answers
are now beginning to sound like a general theme; and that theme is positive. The cheif economist for the National Association
of Realtors said in an interview this week. " indications are that most markets may reach bottom and begin recovery in
the last half of 2008". Another good indicator of which way the market is moving, is the activity of real estate investors.
The fundamentals of real estate investing are much the same as that of investing in the stock market; where the strategy is
buy low and sell high. I'm currently seeing an increase in the buying activity of investors here in our area. This may
very well mean that they also believe that the bottom is near. The fact of the matter is, evrery market is local and prices
can vary greatly in area's just a stones throw away from each other. No one knows without a shadow of a doubt exactly
when the market will reach bottom in any particular area. However I personally believe that when you ad all the factors above
as well as many others I'm seeing together and look at the big picture every indication is that we are near the bottom
on the national level.
So, what does that mean for home buyers and sellers
here in the Pickens and Cherokee county area?
The stats show that Cherokee and
Pickens are currently very different markets. In Pickens the mediun sale price for single family homes in April of 2007 was
$199,000 The mediun price in April of 2008 was $194,000. This equals a 2.5% decline in one year and this is 4% below 2005
prices. Cherokee County prices on the other hand, are down 7% from april 2007. However this is in line with 2005 prices.
So assuming that the predictions for markets to improve in late 2008 come true, Its time for buyers in both counties
to move. Due to stimulous efforts by the fed and Busch adminastration, Interest rates are extremely low now, and for buyers
who need FHA financing, the terms are looser than ever before. Not to mention the fact that buyers are not likely to see prices
this low again in a their lifetime.
For those Cherokee County sellers who want to sell but don't need to sell
now, You may very well see prices back above the 2005 level by early 2009. For sellers who do need to sell now, depending
on the area of location, your home should be worth the same as it was in 2005; however unless you have the right marketing
strategy it could take you up to 1 year to sell.
For Pickens selllers, I think it will be quite some time before
most see prices back at the 2005 level but all is not lost.
Before you give up and throw in the towel. It's
not a hopeless situation for sellers in either Pickens or Cherokee. There are ways to get a much better price for your home,
with the right marketing strategy. Or If your situation or equity allows, you may want to consider using terms such as partial
or full owner financing or lease / purchase which will put you in a position to get a premium price and open up a much larger
market to you.
Please keep in mind that this is the opinion of one real estate agent formed from his interpretation
of statistics and news. Buying or selling a home is a big decision and should be made based on your own circumstances, needs
and research of the market in the particular area of the county that your home is located.
|
|
Search Georgia Foreclosures Totally Free!
questions or comments email: jguide@tds.net
|
|
