Lake Lanier is back in swing...We are now at 16.64 feet below full pool, 3 feet up in the last few months, marinas are starting to get boats back in the water, Georgia is working on building more reservoirs, we may be able to tap into the Tennessee River and .........
Lake pending and closed sales up significantly in February to 15 opposed to a low of only 4 in December to the 2nd highest of 11 in January. The most popular price range for these pending sales fell into the upper $500,000's with the next popular range, over 1 million. There were a handful of $700,000 sales and several in the $300,000 and $400,000 range, although many of these involved swim docks or low to no water at the docks.
Spring is just around the corner, the lake is rising and people are thinking Lake Lanier investments again. 5 words of advise: BUY LAKE LANIER PROPERTY NOW!
I am convinced, as are many others, that lake values will rebound and when they do, they will rebound quickly. Once the permits are gone, the lake continues to rise and the market settles down, this lake will see increases like it did in the past of 15-20% annually and it could be more!
Jumbo loan limits have increased for 2008, so more people may qualify to purchase lake homes that could not in the past. Consult your local jumbo loan expert.
So get out there as the weather gets nicer and take a 2nd look at Lake Lanier property before you are priced out of the market for good!