Homes for sale Archives - Lake Lanier Homes for Sale | Sheila Davis Group -The Norton Agency

Could a Multigenerational Home Be the Right Fit for You?

During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):

“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”

And citing data from Pew Research Center, the Wall Street Journal (WSJ) says:

“. . . multigenerational living has made a comeback in recent years, particularly after the 2008 financial crisis and during the pandemic.”

So, if buying a multigenerational home has crossed your mind, you aren’t alone. Depending on what stage of homeownership you’re in, there are different reasons it could be the right fit. The chart below shows responses to a recent survey from NAR about the reasons people have bought a multigenerational home:

Whether your motives are financial or focused on the people you’ll share your home with, a multigenerational home has distinct advantages. It can make homeownership more affordable, and it can help you best support your loved ones. As Lautz explains:

“Multi-generational home buying is a way for families to care for one another, support one another, and often buy a home that may have been previously out of reach. . . . The trend of multigenerational buying appears to be firmly established and one that could expand in the future.”

Bottom Line: If you’re ready to buy a house, consider the opportunities of a multigenerational home. Let’s connect so you can explore your options in our area. The Sheila Davis Group 770-235-6907

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Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years

The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why, if you’re thinking about selling your house, this is a great time to do so. Your house would be welcome in a market that has fewer homes for sale than it did in the years leading up to the pandemic.

According to the latest Monthly Housing Market Trends Report from realtor.com:

“There were 65.5% more homes for sale in January compared to the same time in 2022. This means that there were 248,000 more homes available to buy this past month compared to one year ago. While the number of homes for sale is increasing, it is still 43.2% lower than it was before the pandemic in 2017 to 2019. This means that there are still fewer homes available to buy on a typical day than there were a few years ago.”

The graph below shows how today’s inventory of homes for sale compares to recent years:

What Does This Mean for You?

Fewer homes for sale means buyers have fewer choices than they did prior to the pandemic—and that frustration is leading some to give up on the homebuying process altogether. But with mortgage rates sitting lower than they were at the peak last fall, more buyers are willing to come back into the process—they just need to find homes to buy. This is welcome activity for the spring market, especially if you’re thinking of selling your house.

With a renewed interest in buying a home for many, the New York Times (NYT) reports:

“Home buyers are edging back into the market after being sidelined last year . . .”

So, if you want to take advantage of a sweet spot in the market, this spring could be your shot.

Bottom Line

The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, now’s the time for us to connect and get ready for you to make a move this spring. Give us a call at The Sheila Davis Group 770-235-6907 and please check out our website at https://www.lakelaniersfinest.com/

Is It Time To Sell Your Second Home?

During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.

A recent report from the Institute for Luxury Home Marketing (ILHM) explains just how much remote work impacted the demand for second and luxury homes:

“The unprecedented ten-fold increase towards remote work since the pandemic is an historic development that will continue to fuel second home demand for many years to come.”

But what if you bought a second home that you no longer use? If you’re now shifting back into the office or are seeing your priorities and needs change, you may find you’re not utilizing your second home as much. If so, it may be time to sell it.

And if you own what’s considered a luxury home, buyer demand for it may be even greater. In another report, the Institute for Luxury Home Marketing explains:

“. . . the last few years have left their legacy for the luxury market. While it might only represent a small percentage of the overall real estate market, luxury homeownership’s influence is growing. Not only has the purchase of homes valued over $1 million (a figure considered by the National Association of Realtors to be a benchmark for luxury) tripled from 2.6% to 6.5% since 2018, but demand for multiple luxury properties has soared over the last two years.

This phenomenal increase has been driven by a growing affluent demographic who consider owning a luxury property a necessity in their asset portfolio. All indications are that this trend is here to stay, albeit that demand is set to return to a more sustainable level.”

If you own a luxury second home that isn’t being used as much anymore, now’s the time to sell. There are still buyers in the market who are looking for a home like yours today.

Bottom Line

Let’s connect to explore the benefits of selling your second home this year. Give us a call today at 770-235-6907.

Lake Lanier Real Estate 1st Quarter 2022 Market Update

The spring lake market is fast paced! Don’t go it alone! Give us a call for expert help with selling or buying! Sheila Davis Group Lake Lanier Real Estate 770-235-6907

JUST SOLD on Lake Lanier: 2429 North Banks Cove! $799,000

JUST SOLD on Lake Lanier: 2429 North Banks Cove! $799,000, ? Congratulations to our Agent Jennifer Anderson and her Buyers from Minnesota on the sale of this Lake home! We have buyers wanting to move to Lake Lanier ? from all over the country. ??
If you are considering a ?move, would like a free home evaluation, or need help finding your next dream home, please give Jennifer a call at 770-356-2629, Our professional team would ❤️ to help you! or CONTACT US HERE

Just Listed in Sidney on Lanier neighborhood

Home for sale Sidney on Lake Lanier Gainesville Georgia

New to the Market!: 2309 Crystal Court, Gainesville, GA 30506

Elegant 6 bedroom, 5 bath Builder’s personal home in the Sidney on Lanier neighborhood with seasonal lake views, a gorgeous pool, outdoor fireplace, finished Terrace level +much more, $1,100,000, FMLS #6952791, Sheila Davis 770-235-6907 Click here for more listing details

Lake front on Lanier in the city! 186 Thompson Place

Lake front on Lanier in the city! 186 Thompson Place, Gainesville waterfront 4BR | 3.5BA with one level living, large flat grassy backyard w/room for a pool, level walk or golf cart ride to the lake and a private platform dock with an EZ Dock wave runner platform and room to dock your boat $875,000, FMLS#6932728, Nicole Columbo 678-858-0265 or Sheila Davis 770-235-6907

Peaceful neighborhood just across Thompson Bridge Road from the Chattahoochee Country Club and Marina plus the golf course, park, boat ramps and just minutes to downtown Gainesville, schools, shopping, Northeast GA Medical district, and several churches. See Additional Listing Details here

Just Sold on Lake Lanier: 6341 Cheslea Drive, Gainesville $649,000

Just Sold on Lake Lanier: 6341 Cheslea Drive, Gainesville $649,000 Congrats to our agent Michelle Sparks and sellers on the sale of this adorable lakefront home.

For help finding your own Lake home call Michelle 404-379-5798 or contact us here

New Price – 145 Moss Overlook Rd on North Lake Lanier

Lake Lanier $25K Price Improvement! 145 Moss Overlook Rd, Dawsonville, now offered at $875,0000, Spacious 4BR| 4.5BA home on north Lake Lanier on 1.02 acres with a Private dock in deep drought proof water! Don’t miss this chance for a large family home on Lanier! FMLS #6844053, Call/text agent Michelle Sparks for more info 404-379-5798. View the 2 minute Virtual tour here: https://tinyturls.com/973036

2020 LAKE LANIER Real Estate in Review

Sheila Davis Group Best Realtors on Lake Lanier Sell your home buy a lake house

By Sheila Davis, Lead Agent Sheila Davis Group

2020 Lake Sales Surge: 2019 was a banner year for Lake Lanier real estate, and 2020 rolled in with optimism. In March, the Pandemic hit and quieted the market for about six weeks. During that period, the online virtual showings were strong, and some onsite showings were happening under COVID-19 guidelines. In May the large pent-up demand created a flurry of showings and sales between May and December. Full price and over list multiple offers were flying for attractive homes on good lots. January of 2021 will begin with a historically low inventory of only 62 lake homes. 2019 began the year with 200 homes available, and that was a record low. The stage is set for another Seller’s Market in 2021, although Buyers are also winners gaining a spot at the lake!

510 lake homes with private docks or homes in neighborhoods with marina style dock access sold in 2020, a 40% increase over 2019. 401 lake homes with private docks closed vs 329 last year, a 22% increase.
Historic Active Listings 2015-2020

Closed Price and DOM 2020 10 years
The average sales price for a home with a private dock was $781,697, an increase of 21.7%. The average sales price of all Lake Lanier homes, including homes in neighborhoods with boat slips at neighborhood marinas, was $650,000, a 5% increase overall.

The average sales to list price was 96.2% and Days on Market was 75, compared to last year’s 95.7% and 108 Days on Market.
Luxury Lake Is Hot: Luxury lake sales really took off in 2020. 160 homes over $800,000 sold vs 88 in 2019. A record 90 homes over $1,000,000 sold vs only 26 in 2019! Days on market was just 97 days, and the list to sales price was 94.5%. Many homes sold at full price or more with multiple offers, predominately in the $800,000 to $1,200,000 range. Luxury homes made up 31% of lake homes sales against last year’s 17%. It was a seller’s market with on average only 40 homes available at a time. In years past there have been over 100 homes on the market for buyers to choose from. With demand high and supply low, sellers should not delay, and list first quarter of 2021.

Second Home Demand Increases in Pandemic: With “work at home” and “school at home” in 2020, it is not surprising Lake Lanier has seen many more buyers wanting a safe haven away from the cities. Lake Lanier never shut down and was a safe haven that enabled residents to enjoy outdoor recreation, while working and schooling from home. Many buyers are still chasing that elusive lake cottage under $500,000, IF they can find it. These properties are scooped up in a day or two and with multiple offers, so act fast when you see it.
Migration from Other States: Lake Lanier has seen increased migration from out of state buyers leaving pandemic locked down states for job opportunities, better quality of life and weather, with less restrictions and taxes. Our beautiful lake is attractive to those moving from other waterfront areas and Buyers see our prices as more appealing.

The Reserve Club & Marina
Multi-Slip Subdivisions Gain Popularity: New and existing lake neighborhoods with marina style docks were hot as builders’ spec homes, custom builds and resales hit the market, contributing to a 40% in increase in total lake homes sold. Subdivisions such as The Reserve at Lake Lanier, Hickory Lakeside, Dawson Pointe, Chestatee on Lake Lanier, Chestatee Cove on the west side of the lake and Marina Bay, Harbour Point, Summercrest and others, on mid and north lake, and Cresswind at Lake Lanier and Bay Point on the southeast side, have provided new home and resale options for buyers wanting a more traditional neighborhood feel and amenities.
Year of Rain Continues the Trend of High Lake Levels: A full lake is always good for lake recreation and home sales, although I must say a few more sunny weekends this year would be nice! Thanks to rain and good CORPS management, the lake levels have been high for over three years, and except for a few years it dropped just below 1065, it has been consistently high since 2011.

Boat Dock Upgrades, Safety and Maintenance: Boats are getting larger and making larger wakes due to the popularity of wake boarding and wake surfing. There are only about 30 days a year of big traffic days, but homeowners are seeing the need to maintenance and replace old docks to adapt to the increased lake activity and larger boats. Homes with newer docks with larger boat slips are in demand and well maintained and safe docks are better received by Buyers.

Lake Homes Trends: Updated kitchens and baths have been a top priority for lake buyers for years. With the pandemic, we are now seeing the resurgence of the home office(s) and zoom spaces as work and school at home have been in the spotlight. Buyers also are attracted to comfortable outdoor spaces such as covered decks and patios, pools, hot tubs, fireplaces and fire pit areas.

Sheila Davis #1 Lake Lanier Agent Real Estate Top Realtor — Sheila Davis
770-235-6907

Sheila Davis is the lead agent at LakeLaniersFinest.com, a VP and Partner at The Norton Agency in Gainesville, a LLA Board Member and a Lake Lanier resident for 26 years. The Sheila Davis Real Estate Group is #1 in Lake Lanier Sales and sold $70 over million in 2020, with the 89.62% in Lake sales.

Sheile Davis Group Top Lake Lanier area Real Estate Realtors Agents — The Sheila Davis Group