Jasper, GA

It's great to be able to report on Pickens County GA real estate data that is leaning toward the positive for a second month in a row!

For May 2009, the number of homes listed for sale in the Jasper GA area that were placed under contract of sale came in at 24 . . . 26% higher than May 2008 (but still well below 2007's numbers). While this is actually a slight decline from the previous month's home sales, this dip is not unusual. A look back at 2007 & 2008 would show a similar month-on-month decline from April to May -- a trend is likely to continue into June, before picking back up for the peak months of July & August.

Only 13 of the 24 sales have actually closed, so there are still some pending sales to account for, which is likely to alter the numbers somewhat once all data is in, but, as of this writing, the average closed sale price was $219,930. With an average list price of only $154,627 for the remaining 11 however, the average sale price for May is once again likely to fall a good bit below $200,000, and well off of 2008's average of $221,876. One point of concern in the otherwise good news is that the average list to sale price ratio for those transactions that have already closed fell below 90% -- suggesting aggressive discounts on at least some of the sales.

As has been the case for several months now, bank-owned foreclosures, short sales and other distress sale scenarios played a significant part in house sales for Jasper last month as well. Nine of the 24 home listings were foreclosed REO's (37.5%), with another three listed as "short sales", bringing the total of distress sales up to 12 . . . or a full 50% of all transactions for the month. New construction homes in Dogwood Trace and Madison Ridge made up five of the nine lender owned properties under contract.

Another slight, if expected, damper on the good news, is a continued increase in overall inventory. Home sellers are more likely to enter the market at this time of the year, so listing inventory usually does increase, but, unless sales numbers pick up significantly, while homes continue to be added faster than they are selling, it is going to be difficult to absorb what is now more than two-years worth of available inventory in Pickens County GA. The percentage of these properties listed as foreclosures or bank owned is still hovering around 7%, but a review of foreclosure notices for homes being auctioned on the courthouse steps in Jasper next month (July), points at possibly 35 or so homes being foreclosed. This could create a noticeable shift in listing inventory (particularly with a number of already foreclosed properties still not yet on market, but out there somewhere). Good for buyers looking for good prices and great deals . . . not good for sellers.

To end on the positive note with which this post began . . . it appears that June 2009, is at least on a pace to match June 2008's numbers, and with a few more days to go, the numbers may in all likelihood come in higher year-on-year for a third month in a row, and fourth month of improved month-to-month sales. If this trend continues, it may signal that at least a bottom has been reached in declining sales. It may take a little longer to see improvement in pricing, as existing inventory will have to be worked through, but we have to start somewhere, and hopefully this is it . . . .

Feel free to Contact Me for specific information about sales data in your neighborhood, or one in which you are interested, (including foreclosure info).

A gently winding mountain road, shaded by arching trees . . . cool air wafting through open windows . . . the moist scent of thick foliage rustling in the breeze overhead. For the first time visitor to Bent Tree, there is sense of something different, something special, that sets in long before the main gate is ever reached. A sense of leaving the hustle and bustle of the city, a flight from noise and traffic . . . a return to nature's magnificence.

Inside the gate awaits a comforting world of lush greenery in spring and summer, rich amber hues in autumn, and misty melancholy in winter. An escape to tranquil days swimming, fishing and boating on the sparkling, spring fed lake; balmy afternoons with friends on the green, and silent evenings under a starry sky at 3,000 feet above sea level. Here is a step back in time to a less hurried existence, where neighbors greet neighbors, and deer and wild turkey have the right of way.

Being overshadowed by its larger neighbor, Big Canoe, has possibly benefited the unique personality of Bent Tree to some degree. While it has many of the same, or similar, types of amenities and features as Big Canoe (albeit to a lesser degree), it has remained something of a pleasant little Pickens County secret, largely unknown to the outside world, other than through word of mouth -- which has kept prices from soaring out of control, and prevented over-development.

Average prices of both lots and homes for sale in Bent Tree GA have remained well below that of Big Canoe, as have property owner's association (POA) and amenity fees. With great fishing on the 110-acre Lake Tamarack, long range mountain views, hiking trails, golf, tennis, 2 swimming pools, stables, a clubhouse, 24-hour gated security, a beach with pavilion, and other community features, Bent Tree has much to offer. Probably as much or more than the average person would effectively utilize anyway . . .

Close to Jasper -- and smaller in size overall than other similar gated mountain communities in North Georgia -- Bent Tree is a convenient option for those seeking this lifestyle choice, but also wanting to commute, or wanting to be closer to schools, shopping choices and medical facilities (Piedmont hospital isn't too far away and is surrounded by a growing medical community). For those interested in a weekend getaway, retirement home, or vacation rental, this ease of access and affordability certainly make Bent Tree worth consideration.

With homes available from the mid $100's and the average sale price in the low to mid $200's, yet with some very nice homes in the higher price ranges also, as high as $800,000+, there is opportunity for most budgets. For those looking at mountain lots for sale in North Georgia on which to build (or land to buy as a long term investment), Bent Tree has some very competitive pricing on lots of all sizes and features -- lakefront, lake view, mountain, golf view, level, sloped, creek . . . something for everyone.

One very attractive program currently available to potential buyers of lots in Bent Tree, is 100% certified buildable lots, offered with 95% financing possible. These lots all come with a new survey, level-3 soil test, and a refund guarantee if the lots prove to be unbuildable for some reason. The 95% of purchase price loans are offered at competitive rates, and are based on a number of factors other than just credit score or debt ratios. For more info on land for sale and financing through this program, you can visit their website HERE.

While Big Canoe certainly has a great deal to offer anyone looking for a vacation home, permanent residence, or land for sale on which to build a home in North Georgia, Bent Tree has perhaps not received enough recognition for what it has to offer, resulting in some great opportunities for those willing to look elsewhere for that perfect mountain property, without paying for image or branding.

Questions or comments? Contact Us.

My Sister-in-law is here visiting us from England. She loves looking at homes. So while my wife is working I take her around with me as I preview homes and communities. It is interesting to note the observations of a visitor to our country.

1 Most of the homes here seem bigger to her. Yes we have all seen shows with stately mansion in PBS but they are the exception. So to her most homes here are a lot bigger than you see in England. Also the homes here have more Loo's (bathrooms) than they do there.

2 Prices for homes here tend to be less and the land you get with them tends to be more. Now this is very local as she is comparing North Georgia. But she is always remarking on how great the prices are and how big the yard is.

3 She asks about "Lease-hold" That is something in their market when you can "Buy" a home for 99 years. Of course you can sell it along the way for the remainder of the lease. An interesting concept.

4 She also remarks on the numbers of folks that own homes. Again this is a country view as in the cities the numbers of renters would be higher. But even in the English country side there are a number of renters.

5 We have no old homes. When we look at some homes and I say wow this house is almost 100 years old or even older in rare cases she looks at me with a puzzled , So what is the big deal look on her face.

6 Constrcution is very different . In England there is alot more stone and brick work and a lot less wood work. Even the framing is different.

7 Lastly she is always impressed buy the open spaces and the animals and trees she sees.

It is interesting to look at our market through anothers eyes.

I was born and raised in the city of New York . I am used to landmarks . Things like the Statue of Liberty the Empire State Building, Times Square, etc etc where things I grew up with. So as i traveled and got older I was used to landmarks as a part of directions.

When we moved to North Georgia I was in for a surprise. I was going some where ,this is pre google maps, and asked for directions as I was new to the area. The person on the other end of the phone said . " Sure travel down X road for about 2 miles and turn right at the Big Chicken." "The Big Chicken ?" I said, thinking I must have misunderstood. "Yes the Big Chicken" the voice said as if I should know what the heck this was. Well that was 23 years ago so .....

Yes this is THE BIG CHICKEN. It is a Marietta landmark. It is also a piece of history. KFC's were often designed and looked this way. There are very few of these remaining. This one has been cared for over the years. Yes the eyes and the beak move ! Inside is chrome and stools just like you would expect. We all have our landmarks but if you are in Marietta asking for directions it is a good thing to know where the Big Chicken is.

This photo was taken 15 years ago. My hair was dark then. My son and I went to a wedding of one of my cousins. It was his first time in a suit and his mother was not there. So we made a deal. In Feb in South Carolina we went to the pool so he could swim and burn of energy. Along the way I ended up burning off energy too. My Mother caught this photo of us.

The boy got dressed wore a suit and tie and even would not take his jacket off at the reception. Every body commented on how well behaved he was. So I guess it was worth the "Launch me Daddy" requests he made. For me this picture is in my office and is a great memory of me and my son. Happy Fathers day !!