Friday, August 20, 2010

Lake Experts you need to Advertise Your specialty

If you are not advertising your Waterfront or Lakefront Specialty here, then you are losing BIG money!

Capitalize on your Waterfront or Lakefront Speciality. You have to spend money to make money and not having an advertising plan is just plain bad business.

Our Lake Lanier business, represents roughly 20% of our total appraisal business income. We have become known as the experts on Lake Lanier and it was not by accident. We were even interviewed by THE WEATHER CHANNEL when we went through the drought and again when the water rose, to discuss its affect on Lake Lanier Home Values. By putting ourselves out there as Lake experts in various forms of advertising, we have risen to number 1 in Google Searches for Lake Lanier Appraiser.

You can have this same success and it starts with advertising your lake or waterfront expertise on a National Lakefront Pros website. The only one of its kind on the web!

Check it out today, you get great exposure on a fine, professionally developed site that allows you to shine and to corner the market in your given area. You will not be thrown in the site with hundreds of others in your market.

If you have any kind of business involving any Lake in the USA, you need to check our Lakefront website today.

Thanks for stopping by our Blog!

Mary Thompson
Founder of Lakefront Pros Website.

Lake Lanier Stats for First Half of 2010

Here are the long awaited Lake Lanier Sales Stats for the First Half of 2010. We will compare these numbers against the same period last year as well as to the last half of 2009.


Please keep in mind that these numbers are taken from FMLS search of only those homes that are listed as Lakefront with Boat Docks or Permits in place and do not include Platform or Community Dock Home Sales.

Number of Sales first half of 2010 = 29 ($195,000 - $713,900)

a 94% increase from this time last year.....WOW!

Average sales price = $421,671

Average Days on Market = 146

** Please note these numbers are actually higher, in many cases much higher because many listings are relisted and the counter starts over again.

Foreclosure Sales = 13 or 44.8%... OUCH!

Average List Price to Sales Price Ratio = 87% This is UP 4% from last year at this time, so that is
GOOD news. Down just 1 % from Last Half of 2009.

Number of Sales Last Half of 2009 = 32
($165,600 - $2,000,000)

Average Sales Price: $532,253 ( over $100,000 higher than first half of 2010)

Average Days On Market = 181

** Please note these numbers are actually higher, in many cases much higher because many listings are relisted and the counter starts over again.

Number of Foreclosures = 7 or 21.8% ( 50% + Decline from First Half of 2010)

Average List to Sales Price Ratio = 88%

Number of Sale first half of 2009 = 15
($240,000- $1,200,000)

Average Sale Price: $490,681

Average Days on Market = 179

** Please note these numbers are actually higher, in many cases much higher because many listings are relisted and the counter starts over again.

** Take Away that one high sale over 1 million and the stats are as follows:

Average Sales Price = $440,015 (Similar to First Half 2010, lower than Last Half of 2009) **

We may be able to expect an even higher Average Sales Price for Second Half of 2010....See below.

Average D.O.M = 96

Foreclosure Sales = 7 or 46% were Bank/Lender Sales, slightly more than 2010.

Average List Price to Sales Price Ratio: 83%.


There are currently 487 Lake Lanier Homes Listed in FMLS with individual boat dock permits, which range from low of $205,000 to High of $14,500,000. The high end listing is a home that has been on and off the market for years. The next highest listing price was $4,995,000.

The Average Listing Price is $785,000. A good bit higher than the average Sale Price. If we applied an 85% list to sales price average, the average Anticipated Sales Price going forward would be in the mid $600,000 Range. However, this number assumes the Average Listing Price does not drop considerably.

There are 27 listings Noted as Foreclosures, Corporate or Lender Owned, which is only 5.5%. This is a HUGE drop from the actual number of sales involving Foreclosures. This is a very good indicator that we are purging the system of Lake Lanier Foreclosures! Very good NEWS!

** Additional Information: There were 59 Listings Withdrawn & Expired in first quarter of 2010. Of that number 5% or 3 were listed as Foreclosures. Average Listing Price for Expired and Withdrawn Listings was $772,000.

There are 22 Pending Sales of which 9 are listed as foreclosures, which is 41%. Closer to the percentage of sales that were foreclosures. This is roughly the same number of pendings as in the first half of 2009.

Supply and Demand working in Lake Lanier's favor! The fewer the Foreclosures out there, the higher the prices are likely to go on Lake Lanier.

Mary Thompson's Viewpoint/Summary:

These Lake Lanier Stats are fantastic news overall! It is not great news for those Lake Lanier homes priced in the upper tiers, since the average sales price is under $500,000. But it is good news for the anticipated values in the future. Far less supply, far fewer foreclosures...all good indicators for rising prices.

We are still a far cry from the Peak Years in 2005-2006, but we are certainly heading in the right direction!

Sellers are pocketing a little more at closing since the list to sales price percentages have risen and it appears days on market are declining, also good news.

If you are a Seller, Buyer or Realtor on Lake Lanier, spread the news!

Lake Lanier Sellers: you may be in for a BETTER year in 2010.

Lake Lanier Buyers: You better get out there and start buying Lake Lanier as Far Fewer Deals will exist going forward.

Lake Lanier Realtors: Sales will be up and the really bad news that you have had to break to your sellers may be ending this year!

Friday, September 18, 2009

Lake Lanier Real Estate Sales Statistics

Lake Lanier Sales Statistics for 2009 First Half...We have hit bottom!

Here are the long awaited Lake Lanier Sales Statistics for the first Half of 2009. These include only those homes that have individual boat docks or permits in place. They do not include community docks, shared or platform docks.

1/1/09-6/30/09: There are 479 current listings that range from a high of $4,875,000 to a low of $155,900. **Remember WAY back many years, when you could find a LAKE home under $200,000. Well there are some to be had again…..But not for LONG!

** Average listing price is $829,000 out of the 479 listed.

** Average list price last half of 2008 was $722,000 so we are up 13% there.

There are 24 pending or contingent sales of lake home sales that range from $169,000 to $1,799,000.

*Average pending price is $600,000. This is up 20% compared to last half of 2008 with average price of those pending at $477,000
1/1/09 – 6/30/09 – There was 48 sales that ranged from $309,000 to $1,265,000.

** Average sales price was $478,594. Average Days on Market was 162 (however this number is actually higher as many homes were listed and then re-listed at new prices and the counter for days on the market started over again) Many homes on the market for well over 6 months and many were on the market over 1 year.

** Compared to 2008 during the same time there were 145 sales from low of $150,000 to a high of $2,500,000 and the average sales price was $578,372. OUCH! That is an almost 18% decline in average sale price. Even worse when compared to the last half of 2008 with an average sales price of $671,000.

**Average list to sales price ratio for first half of 2009 was 14%. Average list to sales price ratio for first half of 2008 was 10%. So sellers are taking more of a hit off their list price to get their homes sold.

FORECLOSURE SALES: There were 16 foreclosures in the first half of 2009 compared to 8 foreclosures in the first half of 2008. This means 33.3% of the 2009 sales involved foreclosures. Only 5.5% of sales in first half of 2008 were foreclosures.

NOTE: These numbers could be a higher as the search was for Corporate or Foreclosures noted in the Special Circumstances field of FMLS.
What does all of this mean? Well it means that 2009 was one tough year on Lake Lanier! This is really no surprise to most of us when you consider the entire country had the worst year ever in 2009.

It also means people are willing to cut their loses, but not to a great degree. Fewer sales tell me 2 things. People are not buying AND people are not willing to sell at these rock bottom prices.
We have finally seen a rise in the lake up to 5.0 feet below full pool from 20 feet below in December, 2008. Recently it has dropped to almost 7.0 feet below summer pool. We are getting some much needed rain this entire week so we may just get that number back up to 5.0 feet by the end of this week, maybe even knocking on the 4.0 feet below full pool door!

In October, 2009, the last of the dock permits are planned to be issued. If the lake continues holding water, our deep recession (I really think we are in a depression) starts to ease a bit and the fact that we have more pending Lake sales than last year, I truly believe we have hit the bottom and there is nowhere to go but UP!

It is imperative that if you are thinking of selling or buying that you get your Lake Lanier Home appraised so you know what the CURRENT market is for the home and you do not make a huge mistake by either leaving money on the table as a seller or as a buyer, over paying for your new dream home!

If you have any questions, feel free to contact us.

Your Lake Lanier Appraiser”

Mary Thompson

Saturday, February 21, 2009

2008 Lake Lanier sales statistics reveals great news.

I have the news on Lake Lanier Listings and Sales for the second half of 2008. These are based upon FMLS stats for homes that were coded as being Lakefront or Lakeview properties with at least a single slip boat dock in place. Figures will not be exact, but they are a good representation of activity on Lake Lanier.


1. There are 394 CURRENT Listings with an Average Listing Price of $722,000. This is a 13% decline in average list price since first half of 2008. The number of listings was 368 so about a 7% increase in number of listings.

2. There are 11 pending properties with an Average List Price of $447,300. There were 12 pending sales first half of 2008 but average was much higher at $870,00. This number is really not as significant as this number is much smaller and you cannot control which homes happen to go under contract at a given time.

3. Out of the 394 listings, 181 properties were listed from 7/1/08-12/31/08 with an average list price of $895,000. This is up just slightly from the fist half of 2008 of $870,000.


1. There have been 31 closed sales. The average sales price is $671,000 with the average Days on Market at 107 (Listing prices range from $152,500 to a high of $2,350,000). The average list to sales price ratio was 6.7%. The average sales price is 22% higher than the first half of 2008! Days on market was essentially the same (109 first half of 2008).

This sales price average brings us closer to the average sales price we saw in the first half of 2007 at $623,000. So great news here!**

In the second half of 2007 there were 72 closed sales with an average sales price of $681,000. Average list to sales price ratio was 9.4% and average days on market was 117. So we are not far off other than number of sales from these figures.

Please Note:

There are many homes that have been on the market much longer than this. The days on the market number is skewed if the home was listed for many months and then relisted after the first listing expired, with a new FMLS number and date. The days on market is only calculated from the last time the home was placed on the market with a new listing number and date. Many homes fall into this situation, so in reality days on market is likely much higher.**This has been our experience when appraising lake property and checking to see how many times the home was listed with new dates and FMLS numbers.

Expired and Withdrawn Listings:

In 2008, there were 531 homes that had expired listings with average list price of $847,000. Average Days on Market was 145. Again this number may be skewed. Many have been relisted and currently back on the market. The number of expired listings is 38% higher compared to the first half of 2008. The average list price is 13% higher.There were 127 withdrawn listings in all of 2008. Average list price was $1,086,000. Many of these were relisted.

What does all of this mean?

The bad news is there are loads of listings for more competition between properties and the number of sales is less than the same time last year. The GOOD news, there were more sales in the second half of 2008 than the first half of 2008 and the average sale price is 22% higher bringing us closer to sale averages of the first half of 2007! Fantastic News!

Also, the average list to sales price ratio has decreased by 1.3%.

Other than the over abundance of Lake Lanier Listings, if the average list price stays stable, then it would stand to reason that our average sales price for the first half of 2009 will increase. It did the second half of 2008 so we expect that trend to continue.

**What appears to be happening here is that people are reducing their listing prices and there is a narrowing between the average listing price and the average sales price. The home sellers are getting realistic on the current market of their lake homes and the buyers are starting to increase in numbers, exactly what we need to start turning this market around!

The average sales price was only slightly lower than this same period last year.

Also the other great news is that the lake is just over 14.0 feet below full pool which is 4 feet higher than it was this time last year.....

With all the doom and gloom in the news about the real estate market, we have something to celebrate here! It may not feel that way to many lake home owners trying to sell, who have had to reduce their prices to remain competitive, but we are heading back in the right direction and that is a good thing as Martha Stewart would say.

Enjoy the good news and I will be back with you in the summer for the first half of 2009 Lake Lanier Sales Stats. In the meantime subscribe to my blog and you can stay abreast of the Lake Lanier News on a regular basis.

Friday, January 23, 2009

Lake Lanier is rising

3 foot rise since December we are now at 15.0 below full pool so we are going in the right direction! Hopefully we will not see the days of the record low last year when we were 20.0 feet below full pool.

Sales are still slow, refinances are strong, but not so much for jumbo loans. It will take some time before we rebound here on Lake Lanier, so hang tight if you can because if we can get to the 1064 water level and the dock permits are all issued, values will start their way back up.

Looks like the end of this year before things really stablize. If we get more rain and the water looks great this summer, buyers will come out and start looking again.

Will be putting together the 2008 year in review on lake lanier in the next few weeks, so stay tuned.

In the meantime if you need a current value of your Lake Lanier home, contact us today.

Wednesday, October 29, 2008

Lake Lanier 1071 coalition being formed to Fight the Lake Lanier Water Battle

1071 Coalition Formed to Fight Lake Lanier Drought Issues and Water Releases down south.
October 29th, 2008 10:51 AM

Check out the news release about the new coalition to fight back and save Lake Lanier from further low water issues, water flow down south, etc.

As we all know Lake Lanier is a HUGE financial engine and we need to fight to save Lake Lanier from continued drought impact.

The media has been part of the problem as I have talked to many people who think there is little to no water left in Lake Lanier....Far from the truth. However, that being said, we need to be proactive and this group has formed for this very reason. They want to take action now to make things happen instead of waiting for others to do something about this issue. The 3 State water wars has been going on for almost 20 years, it is about time!

This is FANTASTIC news. Finally we are getting together to fight hard for this lake with some pretty heavy hitters on the Board of Directors.

Some of you may have read that Obama sides with Florida and Alabama on the water release issue. This is a real problem as he clearly has no clue about Lake Lanier, if this story is indeed true.

Check out this link to the 1071 coalition site, become a member and while you are at it, I have requested to be on the Board of Directors. Somehow they do NOT have a Lake Lanier Appraiser on their Board. One of their initiatives is to show the impact of the Lake Lanier Drought on property values and economy, so who better to give them this information....right?

I have already requested to be added to the Board of Directors but feel free to contact them to ask them to add me to the Board. I am a strong advocate for Lake Lanier and anyone who has followed my blogs and business, knows this to be true.

Thanks for stopping by and spread the good word around and also send this link to everyone you know today!

Thursday, October 2, 2008

Lake Lanier Sales

We have 80 lake homes that are sold or pending since 1/1/08. Wide range of prices from a low of $215,000 to over 2 million (all with boat docks in place).

Of these 80, there are 47 that have closed or have pended since May, 2008. It is not earth shattering, but lake sales are happening and they are happening NOW. During this same period last year, there were 98 homes that sold, just about 2 times more homes last year than this year.
There are 404 Lake Lanier home listings with individual boat docks, from a low of $214,000 to a high of $7,500,000.

Remember when there were NO homes to be found in the $200,000 range and very few in the $300,000 range. Well there are plenty now. The water may be low, but the prices will not be this low forever.

The average listing price of all the listings is over $800,000 so that has not changed much since my last post on the Lake Lanier Stats.

We have loads of inventory for buyers to decide upon. So get out there now to get the best possible deal you are likely to get on this Lake. Prices MAY go lower, but do not count on that. You must decide what is most important for you....Location, water depth, style of house, etc. Then narrow your search to include those things that are most important to you.....

Once you decide on your dream home....then let us appraise it for you BEFORE you sign on the dotted line to see if your investment is a good one. Then you are good to go....

I know there is so much indecision in the market, in the industry as a whole, in the economy with the bail out underway, elections just around the corner, stock market volatility, but if you find what you are looking for, don't take that chance of losing it forever. Sometimes in life you just have to go for the gusto!

Have a great week everyone and remember to stop and smell the "roses" along the way! Enjoy yourself and be safe on the Lake!