Many Lake Lanier buyers imagine that with all the hi-tech property search tool offered finding a home will be easier. In many cases finding a listing is much easier but actually having an offer accepted is rare. For most Lake Lanier investment properties unrepresented buyers are finding multiple offers with highest and best already in place long before ever driving past the home.
Quality homes – investment properties on Lake Lanier consist of a couple key factors
1. Location. Many lake buyers like the southern end of Lanier due to amenities, living benefits, schools, infrastructure, location, and water quality among other features.
2. Function. The function of a Lake Lanier property includes slope of the land, dock or no dock, age of house, need for upgrades, neighborhood, and resale.
3. Price. Most buyers consider price as the most important of these categories when in fact it runs a distant third to Location and Function. Any house on Lanier with a dock should be worth $200,000 through $350,000 and change. Low end has shallow water and older house. High end might have a better house. $350,000 through $425,000 has a better view, $500,000 and up should have a view, good water, and 1994 and newer house. Million dollar home plus on Lanier should have point views, deep water access, 1992 and newer house with all the upgrades.
Why is price third to function and location for Lanier purchases?
Would you pay $200,000 for a wonderful home, 2002 construction, Flowery Branch address, deep water access with no dock? If we are being honest with each other the answer is no. Why purchase a home on Lanier without a dock at any price? Lanier buyers consist of floaters and boaters. The floaters like to see the water, put their feet in on special occasions, enjoy the sunsets. Boaters like the dock, the boat, skiing, fireworks on the fourth, dinner with friends in Cocktail Cove, sleepovers on the islands, summer sun, and winter privacy. Both can enjoy Lanier but when it comes time to sell the floater house (no dock) this property sits on the market for a year or two while the boaters house sells in three months with possible highest and best multiple offers. Purchasing a Lake house as a first or second home is a stretch at all price ranges, understand that finding the right location and function is going to cost a few more dollars than what you had planned for. Spend the extra money today while prices are at an all time low and reap the reward as Lanier’s market comes back strong.
Understanding that no two Lanier properties are exact comps pricing becomes a little skewed for the marginal homes. The top 10% of homes, when coming on the market, are receiving multiple offers within 5-10 days of listing.
The new technology
www.zillow.com, www.trulia.com, www.JeffBarnwell.net, www.Realtor.com, www.Remax.com All wonderful websites that will show the latest new homes for sale with some exceptions. www.JeffBarnwell.net is the only one that updates daily with the latest new homes for sale, foreclosures, short sales, and price changes. The others are usually 2 – 3 days behind due to contracts with local MLS’s.
As you are driving around Lake Lanier with your Zillow.com home smart phone app remember to keep my number handy, 770-990-0743 to check availability. Most of the top properties that you drive past are more than likely already under contract from this past weekend.
The cure for driving around Lake Lanier without a plan
www.JeffBarnwell.net and www.LakeLanier-HomesForSale.com both have “hotlist” email features that will mail the latest new listings and notify of price changes within your search criteria. Say you are seeking a new lake house in Cumming from $3000,000 – $700,000, deep water access, lake frontage, double slip or single slip dock, gentle slope to water. My Lake Lanier IDX is showing 32 homes listed with these characteristics. I have customers that like driving around Lanier seeking for sale signs. The drive is beautiful, why not spend a couple hours exploring the area. However, Lanier is huge with hundreds of miles of shoreline. Without question you will not be able to find every home on the market. Most don’t have listing signs.
Check the emails sent from www.JeffBarnwell.net and www.LakeLanier-HomesForSale.com daily for latest “hotlist” properties before making the trip.
Schedule a showing for Lake Lanier new homes for sale when ready to purchase your new house. Happy to show a couple properties either by land or lakeside.
