Trent Cluley -- Pickens County Georgia Real Estate

It appears that the positive trend we had been seeing in Jasper GA home sales in the early part of the summer took a turn for the worse in August.

The number of homes placed under contract or sold, 24*, was 20% lower than August 2008, and 33% below 2007's numbers. It also reflects a notable decline from the prior month's sales numbers. The average closed sale price of $219,072 for those transactions that have closed holds some promise on the pricing side of things, although still at a very low list-to-sale price ratio.

Of the 24 transactions, seven of the homes were located in either Bent Tree or Big Canoe. Eight were bank-owned foreclosures (33%). This is compared with only five foreclosures sold in August for each of the two previous years, or, 17% and 14% of all sales, respectively, for 2008 and 2007.

Inventory continues to hover at an unfavorable two-years plus, with 531 homes for sale in Pickens County GA at the time of this writing. Twenty-seven of these active listings were listed as bank-owned or foreclosures -- a slight drop as an overall percentage of inventory over prior months. With 30-40% of all homes that are selling being some form of distress sale, this drop is not surprising, but is also likely to be quickly replenished if the number of foreclosure notices being published is anything to go by.

This turnaround from the improvements we had been seeing is hard to explain, and makes predicting future trends almost impossible. September and October aren't showing significant signs of improvement, so the earlier gains may simply have been a release of pent up demand, and some bargain hunting by savvy buyers seeing great opportunities that met their needs. Even the anticipated surge of first-time home buyers racing to meet the tax credit deadline hasn't been as great as many expected.

Overall it seems the mood of uncertainty about job security, unemployment, housing prices and the economy, seems to be holding in check any sustained turnaround in the local Pickens County housing market.

*Some data used herein obtained via First Multiple Listing Service and is not warranted.

Gorgeous, move-in ready new construction, in picturesque Madison Ridge subdivision in Jasper GA.

This pristine home offers 3 bedrooms and 2.5 bathrooms, as well as a huge bonus room or fourth bedroom and full daylight basement that together provide abundant space. The main level includes a spacious family room with fireplace, a separate living room and dining room, breakfast area, open kitchen, laundry room, half bathroom, and sizable master suite.

The kitchen is open to the family room and breakfast area, creating generous space for entertaining and everyday use, while equally convenient to the formal dining room. With hardwood floors, granite counters, tile backsplash, custom cabinets and stainless steel appliances (dishwasher, inset stovetop, microwave, and double-oven), this is a functional and inviting workspace with a touch of class.

Likewise the master bedroom, complete with trey ceiling and ceiling fan, extends beyond functionality to indulgence, with separate his & hers closets, and a large private bathroom. A jetted tub with large window, private toilet stall, enclosed tile shower, and separate his & hers vanities, set this bathroom apart.

Downstairs, the full basement is easily accessible from inside our outside, with an interior door and two exterior doors (including a double-door), several windows, and its own secondary deck overlooking the wooded back yard.

Outside, a landscaped 1.30 acre yard, sodded in front and wooded in back, assures room for outdoor activities, as do the two decks and covered front porch. Concrete siding and architectural shingles add the finishing touches.

The neighborhood of Madison Ridge is a small, quiet, relatively new community, with approximately 3/4 of available homes already occupied, and a number of acre-plus lots still available for additional development. Underground utilities, but no community amenities or HOA at this time.

Location is a convenient mountain setting, roughly 3-miles off Hwy 515 in South Pickens County, just minutes from Jasper and Canton, GA.

Don't miss out on the lowest priced home available for sale in the neighborhood, and a great opportunity on a quality home!

Trent D Cluley Keller Williams Realty - Select Partners (678) 493-2100 TrentCluley@kw.com http://www.TrentCluley.com Listed by: Keller Williams Realty - Select Partners

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As hoped for and expected, July 2009 saw a notable improvement in house sales in Jasper GA, as compared to both prior year numbers, and prior month home sale numbers, for the Pickens County area. And not by a small amount either.

Reported pending sales for July jumped 43%, to 30 homes placed under contract, from 21 in June '09 . . . and doubling from only 15in July 2008. Equally significant is the fact that average sale price for those transactions that have already closed falls close to $226,000, versus an average sale price in June of closer to $184,000, and $187,000 for July 2008. This suggests activity from some buyers looking in higher price ranges, which is good news for sellers. July's sales in fact top even sales volume for July 2007, which came in at 27 homes sold, but still trail the average sale price of $234,348. Sale price to list price ratio improved slightly as well, up to 91.5%. Still not a great ratio, but a good sign of improvement.

Bank-owned foreclosure homesaccounted for 11 of the pending sales (37%), while almost half of all houses under contract of sale were located in either Big Canoe or Bent Tree, GA. These numbers highlight the difficulty for a non-institutional home seller in Pickens County that doesn't live in Bent Tree or Big Canoe -- particularly at the above $200,000 price point.

Anecdotally, some of the increased activity can be attributed to heightened interest from first time home buyers looking to take advantage of the federal and state tax credits, but exactly how much is attributable to this, is difficult to say. Low home prices and interest rates are just as likely to have played a role.

Inventory is again up above 550 homes for sale, with the uptick in sales doing little to keep up with listings coming on market. Foreclosure homes continue to account for around 7% of homes on the market, despite the high percentage of these REO properties that are sold each month relative to other sales.

So long as foreclosures keep inventory up and prices down, it is going to be a challenge to support any argument that a solid bottom has been reached, or a turning point found, but, even just maintaining where we are now -- with no further deterioration in volume or value -- can be viewed as something of a positive. So we'll just have to wait and see where August's numbers come in and what they might tell us...

For more info about your local market, neighborhood or a specific home, feel free to email or call with your request.

[Data used herein obtained via First Multiple Listing Service and is believed accurate, but is not warranted.]

One of the things that has made the area around Jasper and Big Canoe, GA, particularly appealing to commuters and retirees, permanent and part time residents alike, is its central position in North Georgia, which affords convenient access to the rivers, lakes and mountains of the north and east, and the city life of Atlanta to the south.

Some of the attractions of Atlanta are obvious, with museums, parks, music venues, shopping and restaurants to suit just about any taste. And of course there are the big draws like Six Flags over Georgia, and Atlanta's professional sports teams -- Hawks, Braves, Falcons, etc.

But, for those looking to avoid the large crowds and hefty prices at venues such as these, or perhaps something a little more "quaint" or different, there are other opportunities not too distant from Pickens County, GA, that can be taken advantage of in the summer months . . .

Each year in Jasper during the week of the Fourth of July, a small fair sets up in town at the Chamber of Commerce park, and includes rides, games and food, that is ideal for anyone with small children. An annual tradition looked forward to by many locals.

A little further afield, the minor league teams of the Rome Braves and Gwinnett Braves can be enjoyed for less than $20 per ticket, and most of the seats are pretty good compared to major league stadium seating. The games also have a whole different feel and personality than the big leagues, with a more personal feel for youngsters.

Beginning in August of each year, the Atlanta Falcons hold their training camp in Flowery Branch, GA, which is free and open to the public, and only about an hour from Jasper. Concessions are reasonably priced, and there are activities and giveaways for the kids, along with a chance to be at field level with the players and gather autopgraphs. Well worth the trip.

There are numerous other opportunities and activities in and around Pickens County, GA, but these are just some that come to mind as poignant at this time of year. Will post more later. (You can also read related posts on things to do in Jasper GA, on my other blog, CurbviewJasper.com.)

I will be glad to provide more info on these activities if needed.