Dahlonega, GA

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.

As of today Nov. 12 we have 230 Single family homes listed in First MLS for sale in Lumpkin County. We show an additional 29 homes under contract.

First MLS list 23 homes that closed in the county during October. Of the 23 homes that closed 14 were foreclosures. The highest sales price was $275,000 at 360 Black Falls Road and two tied for the lowest sales price, $10,000. They were both mobile homes one in Stonehenge and the other in Camelot mobile home parks.

We show 19 townhouses or condo's on the market. No contract pending or closed sales.

There are 242 developed lots listed for sale with 1 under contract and no closings during October.

The land farm section of FMLS has 106 active listings and 1 pending sale and no closings for October.

As of today September 9 2011 we have 277 single family homes listed for sale in Lumpkin County. We also show 34 additional homes listed as under contract.