Dahlonega, GA

I have several buyers actively looking for a home that I can't find what they are looking for.

Some of the foreclosures that come on the market are actually getting multiple offers and sell above asking price. There was on that came on the market for $22,000 a couple of weeks ago that drew multiple offers. The listing agent said she had 12 offers on that property. I submitted a offer for $28,000 on it and still got out bid. I spoke with another realtor friend who submitted $34,500 on that same property and he got out bid as well. It will be interesting to see what it actually closes for.

My personal listing inventory is down to the point that I need to get some new listings to advertise. If you know of anyone that needs to sell I would greatly appreciate it if you would pass my name and number on to them.

January 2012 Sales.

Foreclosures are still setting the market prices .

If you have the ability to invest in Real Estate now is the time. You can buy something for much less than you could build it for.

I expect the rental market to be strong for the next several years. Everyone that has lost a home to foreclosure still needs a place to live. It will take them several years to rebuild their credit to the point they can buy another home. Many of them will be excellent tenants.They are good people who through no fault of their own lost a job and had to take something making much less than they were making. They will take care of the rental home they are living in and they will pay the rent on time.

Land prices have fallen like a rock. If you do not want the hassle of owning a rental home but would like to invest while the market is down look at land. I am seeing prices much lower than they were when I started in the business back in 2000. When the bulk of the foreclosures are sold and there is a demand for new construction prices should come back up. Just keep in mind you will have to sit on the land for several years.

Active listing and November 2011 Sales.

As of Dec. 11 we have 221 Single family homes listed in First MLS for sale in Lumpkin County. We show an additional 27 homes under contract.

First MLS list 17 homes that closed in the county during November. Of the 17 homes that closed 11 were foreclosures. The highest sales price was $205,000 at 514 Morgan Ln. The lowest sales price was $14,000, a foreclosed mobile home on MT. Olive Church Rd. I sold another foreclosed double wide that was not listed for $14,000.

We show 19 townhouses or condo's on the market and one contract pending contract. There were no closed townhomes or condo's sales in November.

There are 239 developed lots listed for sale with 1 under contract.There was only one closed sale, 2.39 acres on J Mountain for $15,000. The land farm section of FMLS has 101 active listings and 3 pending sale and no closings for November.