GOOD NEWS! Lake Homes are still a sought after place of refuge for relaxing, re-energizing and bringing families together. Congratulations to the new home owners who closed today just in time for Spring. If we can help you find your spot on the lake we have virtual tours and can share homes online while you stay home and safe. 770-235-6907 https://www.sheiladavisco.com/status/sold/ #LakeLaniersFinest
#GoNorton
Top 10 Trends in Lake Lanier Real Estate, by Sheila Davis
#1 A HEALTHY AND VIBRANT MARKET: With lake home prices nearing 2006 levels again, and inventory 30%-40% down depending on price segment, home sellers are enjoying a steady market with prices edging up about 5% this year. Those sellers with deep water are clearly winners with low water properties patiently holding off the market until a full pool returns. Buyer activity is high, but with low inventory, it can be frustrating for a Buyer to find a home that fits their needs. Homes under $500,000 are in high demand with less than 60 days on the market and we are seeing multiple offers and just days on the market for hot properties. Lake lots are selling again, prices ranging from the $200’s in multi slip communities up to luxury lots from the 400’s up. A recent lot sale in Forsyth county sold for $800,000 this month. Custom homes are once again popping up on the lake, as lots and tear downs are seeing new builds.
#2 THE RETIREMENT REVOLUTION: With the success of Cresswind at Lake Lanier, Harbour Point, Marina Bay, Chestatee, and others, more Active Adult developments are moving fast to capture the growth and demand for new lake homes. An 880 unit Active Adult development on the lake with boat slips is in final approval in the City of Gainesville, (Dawsonville Highway between Ahaluna Drive and Sportsman Club Road). “Diamond Gardens”, in Cumming, off Pilgrim Mill Rd. is completing its clubhouse, tennis courts and pool this summer. Plans are to build 50 luxury homes, with boat slip included at it’s multi-slip marina.
#3 SECOND HOMES ON THE RISE: Buyers of all ages are heading to Lake Lanier for refuge from the “Concrete Jungle” of Atlanta, or as an escape from crowded beach towns or cold weather locations. With shopping and modern conveniences readily available now, our second home residents can enjoy all that our communities have to offer year-round. These buyers are looking for deep water boat dockage, and well-maintained and updated properties that they can move into with little or no renovation. Second homes are selling from the $250’s up to $1,800,000 this year.
#4 OUTDOOR LIVING SPACES: With our beautiful & mild weather on Lake Lanier, home owners are seeking outdoor living spaces more than ever. Whether you have a wooded or water view, enjoying nature and entertaining outdoors is something we all want more of. Swimming pools are in big demand. Elaborate outdoor patios, covered porches, outdoor kitchens, stone fireplaces and hot tubs are sought after. Those lucky enough to be close to the water are building outdoor pavilions & covered patios to get closer to the lake. Properties with an outdoor amenity generally enjoy less time on the market and more resale value.
#5 LUXURY LAKE SALES LOOKING UP: Luxury home sales over $1 million dollars are up 20% over the last 12 months in number of sales. Low interest rates and improving economy are helping this segment of the market to improve, regardless of water levels and low inventory. There are currently 50 homes now on the market over $1 million. Twenty homes have sold, and pending sales are up. Fifty percent of these sales are cash buyers, and about half are second homes. The average million-dollar lake home has 4-6 bedrooms and 5 baths with an average of 5500-8500 square feet. The average sales price in 2017 is $1,250,000 with an average of 90% sales to list price ratio. According to Mary Thompson, of Lake Lanier Appraisal Service, “Values steadily increasing about 1.5% year for homes priced $899,000-1,299,000 and values are up 8% for homes sold above $1,300,000”. About 75% of luxury homes sold have pools and most have screened porches or outdoor living spaces. The luxury homes sales are split evenly between south and north lake locations, with the majority in Hall County this year due to low inventory in other counties.
#6 UPDATING AND HOME MAINTENANCE IMPORTANT FOR TOP RESALE VALUE: In the hot market prior to 2007, buyers were content purchasing homes in all price points prepared to remodel and even fix issues. The era of the weekend warrior paid off for investors. Property values were going up rapidly and buyers knew they could recapture their investment quickly. The next generation of lake buyer is much more interested in lifestyle and ease of transition, as well as resale value. Their first choice when purchasing will be a home lovingly maintained and with updates such as modern kitchen, bathrooms, decks, roofs and systems if needed.
#7 DRESSING UP THE SHORES: With water quality and erosion control always an important topic, we are seeing
more homeowners and businesses taking a proactive stance. Just take a cruise on the lake and you will see homeowners lining the shoreline with granite rip rap stone. We are receiving the benefit of a beautiful shoreline while also receiving the shoreline protection Lake Lanier is sorely in need of. Additionally…Old docks are gradually being removed or refurbished, with newer, more attractive and safer docks appearing in their places. Owners with newer and well-maintained docks will also receive some benefits of a higher price at resale.
#8 NORTH VS SOUTH, LIFESTYLE NOW DETERMINES BEST LOCATION: “Location, Location!” Isn’t that what we hear about real estate? In 2017, buyers are interested in “lifestyle living”. With so many different choices for boating and lifestyles on Lanier, no longer is south or north the preferred location for real estate. Those still commuting to Atlanta and seeking close proximity to South Lake restaurants and attractions are seeking the south end. The North Lake still attracts buyers for it’s quieter coves, and private areas for those who enjoy skiing, kayaking and a more peaceful setting. With so many older established lake neighborhoods, new communities, and country club neighborhoods, there is something for everyone here on Lanier.
#9 MEGA-RENOVATIONS & TEAR DOWNS: Can’t find that perfect lot? Do what the owners at 6010 Chimney Springs, in Buford did. In 2004, Drs. Joe Clarino and Deb Cirone, purchased a 70’s cottage on a fantastic south lake lot. They lived their dream of designing and building their ideal lake home around the existing cottage. In 2008, their stunning new 6000 square foot home and pool were featured on HGTV’s “My Big Amazing Renovation”. I was fortunate to get to market and sell this stunning home last year. Others are finding that special lot and tearing down the existing cottage to make room for their new custom homes. It’s one way to get that perfect home on your list!
#10 INVESTMENT PROPERTIES: We see them in all shapes and sizes. Investment properties are paying out for smart buyers. Whether it is shifting cash from Wallstreet to Mainstreet for a second home, or the desire to manage a vacation property, we are seeing more and more investment properties. With the internet and rental sites readily available, investors are making their way to Lanier. Close proximity to Atlanta, the North Georgia Mountains and the airport makes our lake a smart choice for investors.
Sheila Davis, is a lake resident since 1994, and lead agent for “Lake Lanier’s Finest” aka The Sheila Davis Group, Specializing in Lake Lanier Real Estate at The Norton Agency . You can contact Sheila through her website http://www.LakeLaniersFinest.com. Special thanks to Mary Thompson of Lake Lanier Appraisal Service for her contribution.
Published July 2017 The Gainesville Times, August 2017 Lakeside on Lanier News and Lake Lanier Assoc. newsletter July 2017
http://lakelanier.org/wp-content/uploads/2017/07/LLA_Newsletter_July_2017.pdf
High-end housing market picks up on Lake Lanier
Hall County claims title of most-expensive mansion on the lake
nbowman@gainesvilletimes.com Updated: Sept. 2, 2017, 9:49 p.m.
Pull out those checkbooks: The most expensive house currently on the market on Lake Lanier is in Hall County.
The palatial property at 4890 Serene Shores Drive checks in at $8.5 million. For that, a buyer will get six bedrooms, eight full bathrooms, six half bathrooms, a couple of kitchens, 26,797 square feet of living space and some stout gates.
It was built in 2003 and comes with a two-slip dock, deep water and an annual property tax bill of almost $80,000.
And with the stock market booming, somebody might just buy the place.
Always a spot for retired couples or people looking for a second home, Lake Lanier’s high-end home market has seen significantly more activity in the past 12 months as Americans become more optimistic with their money.
It’s a welcome change for those doing business around the lake, where the 2007 housing market collapse was a sopping wet blanket over one of local real estate’s hottest high-dollar markets.
“They got hit bad,” Lake Lanier appraisal expert Mary Thompson told The Times. “If they were below the million-dollar mark, it was on average a 30 percent hit. If they were over a million, it was worse.”
The Lost Decade is over: Lake Lanier values on the upper end are about where they were in the price peak of 2006, and that hasn’t stopped people from buying homes.
Sales of homes valued at more than $1 million are up 20 percent in the past 12 months, according to the Norton Agency’s Sheila Davis, who specializes in lake sales.
She credits the boost to an improving economy and low interest rates, but the economy has been the shining star — half of the people who bought homes at $1 million and up paid cash.
The lake still gets its business executives, who each day mingle will the folks filling up Ga. 400 on their way to and from Atlanta, but more and more the people buying big around Lake Lanier are entrepreneurs.
“It seems like at least half of our buyers own their own companies, their own businesses,” Davis said. “They can spend a lot of office time at home.”
About 20 homes worth more than $1 million have sold in the past 12 months. Most of those are being bought by the people you’d expect: empty-nesters and older Americans looking for an easier quality of life than they were getting in their choked metropolitan areas.
“However, we are seeing younger buyers,” Davis said. “My last million-dollar sale, the buyers were in their 30s and they were buying a full-time home.”
Another new experience for lake realtors: Talking to men about kitchens. The Norton Realtor said she’s seeing that the “men are all about the kitchen” in the high-end homes being sold around the lake.
They’re looking for large kitchen islands and — this one is popular no matter your tax bracket — open floor plans.
While the south end of Lake Lanier is the most populated, high-dollar homes are dotted around the lake in either luxury neighborhoods or behind gates on a spur road, like the home on Serene Shores Drive, Davis said.
The Hall County mansion is a top-notch collection of what deep-pocket buyers are looking for in their lake homes post-recession.
“They want covered porches, covered decks, patios — all of that outdoor living,” Davis said. “And that’s expensive. They’re major add-ons to these properties.”
Outdoor living means outdoor entertaining: Many of the most expensive lots around the lake have expansive terrace levels to get guests out of the house and closer to the lake.
Because at the end of the day, they’re paying for lake. Case in point: 6010 Chimney Springs Road in Buford.
In 2004, a pair of doctors bought the lot and its 1970s cottage with a plan to build a new home around the cottage.
When they finished, the lot had a pool, in-home bar, a pair of patios and 6,000 square feet of space. It was featured in “My Big Amazing Renovation” on HGTV.
They bought it for $437,500. Seven months ago sold for $1.25 million.
Planning on selling a home this spring? It’s time to get ready.
While mortgage rates have risen in the last year, experts say 2017 will still see strong home sales as job growth continues and people who’d been waiting to enter the market take the plunge into home ownership.
To attract buyers in any season — and sell for a good price — sellers need to show their homes in the best possible light. That means cleaning up the interior and exterior, removing personal items that could distract potential buyers, adding a fresh coat of paint, and deciding which upgrades and repairs will deliver the best return on investment.
But for those hoping to close in the next few months, there are some more specific things experts say sellers need to know: Low housing inventory is driving demand, but buyers are still being more selective than sellers might expect. Millennials are finally buying their first homes, and that means starter properties are selling faster than in recent years.
Of course, real estate is a hyper-local industry, so national trends may not hold true in all markets. A real estate agent can help you understand what buyers in your area are looking for and how to appeal to them.
This season is expected to be an extremely good time to be a seller, said Lawrence Yun, chief economist and senior vice president of research for the National Association of Realtors.
“This year in the spring buying season, things have intensified with more buyers and fewer sellers than last year,” he said.
This high-demand, low-supply environment means sellers will see a lot of foot traffic from eager buyers and, if the home is priced correctly for the local market, they could get multiple offers.
This trend looks like it will continue despite rising mortgage rates, Yun said, as job growth and the U.S. economy as a whole remain strong.
One reason for the increased housing demand this year is that millennials — many of whom have been reluctant to dip their toes in the real estate water due to fears about their job security, high levels of debt and other factors — are now ready to become homeowners, said Svenja Gudell, chief economist for Zillow.
“We’re seeing a lot of demand for entry-level homes and things that are a little less expensive, as many millennials and first-time buyers are very active,” Gudell said.
While starter homes are in high demand and will likely sell more quickly, Yun said pricier homes are selling more slowly.
“Inventory on the upper price ranges — $500,000 and over — these are staying on the market longer than other price categories,” he said.
When you decide to list your home this spring can impact how quickly it will sell. Zillow conducted a study of listings in markets across the country and found that, nationwide, homes listed between May 1 and May 15 sold an average of nine days faster and for an average of 0.8 percent more than homes listed at other times. In most markets, listings posted on a Friday or Saturday performed best.
“These times differ from one market to the next,” Gudell said. “It’s spread over March, April and May, and warmer markets will start earlier. Markets with deep, snowy winters tend to start a bit later.”
Skyrocketing home prices in coastal metro areas like New York, San Francisco and Los Angeles, combined with rising mortgage interest rates, are making those areas less appealing to homebuyers, Gudell said.
“It used to be in San Francisco that something came on the market and buyers would just throw money at it, but that’s not happening anymore,” she said. These buyers are now turning to areas Gudell referred to as “secondary markets:” smaller cities such as Nashville, Tennessee, Tampa, Florida, and Milwaukee, Wisconsin, where lower starting prices mean homebuyers can afford to pay higher mortgage interest rates.
Just because buyers are ready to snap up low-priced starter homes doesn’t mean they’re willing to settle, said Realtor Mary Dykstra, owner/partner at MKB Realtors in Roanoke, Virginia.
“They’re unwilling to buy anything that needs too much work, so you have to put out a good product” when marketing your house, Dykstra said. This means making small improvements to help your house stand out to potential buyers.
Homeowners, especially those with more dated decor, often feel that they’ll need to do a big renovation before they put their homes on the market, but these projects may not generate enough of a return to be worthwhile.
“You can do a lot through smaller projects,” Dykstra said. “You don’t always have to do something big like redoing your bathroom.”
According to a recent National Association of Realtors report, sellers only recoup about 58 percent of their investment on a bathroom renovation. However, those who put a new roof on their homes recouped 105 percent of their investment.
Dykstra said that new windows and other smaller, energy-efficient upgrades also make great selling points.
A fresh coat of paint can be a quick, easy and inexpensive way to update your home and push up the sale price, Gudell said.
Zillow found last year that certain paint colors can have a big impact on how much you get for your home. For example, the study found that homes with yellow kitchens sold for about $1,400 more than homes with white kitchens. While a mauve, eggplant or lavender dining room raised sale prices by $1,122 on average, a dark gray dining room lowered it by $1,112.
While smart-home tech is trendy, it may not be worth the investment, Dykstra said.
“It hasn’t caught on yet in a way where we can quantify its value to the home with a dollar amount,” she said. “It’s still in the gadget stage where people go, ‘Oh, that’s nice,’ but not everyone is ready to have internet-connected everything.”
Save the smart-home upgrade for your new home, where you’ll be able to appreciate your own investment.
Dykstra stressed that the most important thing for sellers to do in any season is to present a clean, tidy home where buyers can really envision themselves living.
“Younger buyers are more zen-like in what they’re attracted to,” she said. “They want something out of Pottery Barn or other modern catalogs, so give them a clean palate by putting your personal things away.”
Dykstra recommends removing personal trinkets — which can make a room look cluttered — and tidying up your exterior too.
“Spring shows properties at their best when trees and flowers are blooming, so make sure your lawn is tidy and you don’t have any fall leaves blown up against your door,” she said.
written by MONEYWATCH March 13, 2017, 6:00 AM http://www.cbsnews.com/media/9-things-to-know-about-selling-a-home-in-spring-2017/ CBS
selling a home this spring? you had better get ready.
Exquisite Lake & Mountain views on Lake Lanier
ENJOY Exquisite Views of Lake and Mountains from this lovely Lake Lanier home that is conveniently located in the Forsyth County part of Gainesville! The home is placed in a PICTURE PERFECT SETTING and you won’t want ever want to leave! Buy now and plan all of your future family gatherings here at Lake Lanier. This would also be a great home for a corporate or an investment property. The private party dock is always in deep water. The home is meticulously maintained with beautiful decor and features an open floor plan with vaulted ceilings and exposed beams, rock fireplaces and pine floors. The kitchen features custom cabinetry, granite counter tops, stainless appliances and an island. There is a charming suite or office over the garage, two screened porches and a hot tub. The finished terrace level features a wet bar, family room with rock fireplace, two bedroom suites and a bonus room. Offered at $969,000, 5520 Truman Mountain Rd, Gainesville, GA 30506, Convenient to GA 400, Call 770.235.6907 to schedule your appointment to see this lovely Lake Lanier home before it is sold! virtual tour: http://5520trumanmountainrd.info/
Just Listed in Cumming: 5015 Pinto Pass
Beautifully maintained 3BR/ 2.5BA home with a private fenced backyard located in the great Concord Farms neighborhood near the West Forsyth Schools and convenient to Vickery Village shopping. The home features gorgeous granite and stainless kitchen with an island and open to the breakfast room and Great Room. There is a charming vaulted screened porch perfect for entertaining which overlooks the gorgeous landscaped yard with irrigation system. The oversized upstairs master suite with sitting room (could be made into 4th BR or nursery) and a spacious closet. The Master bath has double vanities, tile shower and jetted tub. There is also a separate main level study and a formal dining room. The garage is oversized. This home is ready to move in and enjoy! Offered at $295,000, Full listing details click here 5015 Pinto Pass- Cumming Listing details