Trent Cluley -- Pickens County Georgia Real Estate

Home sales in Philadelphia Heights neighborhood in Jasper Georgia showed a decline in 2007 from previous years, with only 3 sales reported. Two of these sales were bank owned foreclosure homes, which sold for well below their ask price / market value, which distorts the 12-month average sale price so much as to make it unusable.

A look at 36-month sales data however, gives us 17 sales, at an average sale price between $170,000 and $180,000 (depending on how the foreclosure data is accounted for). Currently there are 9 homes listed in real estate, with a few more for sale by owner (FSBO), so plenty of choice, from a very high inventory level that will take time to liquidate if the previous year's sales numbers are used as a guide.

And inventory is exactly part of the problem. With Pickens County GA home sales off by at least 25% in 2007, the number of homes available for sale has grown considerably, particularly in this price range, leaving many sellers holding the bag.

With interest rates as low as they are as of this writing, there is hope that some buyers on the sidelines may step in, but it may still take something of a reality check on pricing for many sellers in Philadelphia Heights to become competitive in this sluggish market -- especially those that don't have upgrades or top-rate home maintenance to offer as incentives to buyers.

For the latest data on market conditions and homes available in Philadelphia Heights subdivision in Jasper, Georgia, contact Trent Cluley -- Keller Williams Realty.

Sales Data for Houses Sold in Philadelphia Heights: 2005-2007

** This sale price of $110,000 is a foreclosure, sold well below market value. When adjusted for two low-priced foreclosed homes in Philadelphia Heights, average sale price increases to around $177,000.

PHILADELPHIA HEIGHTS Subdivision - Pickens County, Georgia

Jasper's Philadelphia Heights is ideally located off Highway 53 West, less than a mile from the Home Depot / Kroger shopping center and Highway 515. The neighborhood features fewere than one-hundred homes / homesites on lots that range from less than an acre to one-acre plus. While the average list price of Philadelphia Heights homes for sale is around $215,000, the average home sale price averages closer to a very affordable $180,000.

All of the houses in Philadelphia Heigths were built in 2001 or later, mostly as spec homes, and as such there isn't much variation in floorplans and styles -- most of the homes are ranch, split-level, tri-level, or some variation thereof, built over a full or partial basement.

Exterior finishes are mostly vinyl siding with stone accents, while interiors are generally the carpet / laminate / vinyl floors and laminate countertops one would expect to find in this price range, however some homes do offer concrete siding, hardwood floors, and other interior upgrades.

Lot sizes range from less than an acre to just under two-acres. While front yards are for the most part level to sloping and neatly landscaped with lawns and shrubbery, back yards are generally more wooded and in places somewhat steeper than is found in the front of the homes. The most level lots are found to the entrance of the Philadelphia Heights subdivision.

Utilities are fairly standard -- public water, septic tanks, hi-speed Internet access, phone, cable, EMC electric, with no amenities offered by the community (no swim, tennis, sidewalks, playgrounds, etc.). On the plus side is the very minor level of covenants and restrictions placed on property owners, and the lack of any association dues.

With a couple of exceptions, the neighborhood homes and yards are generally well-maintained. Despite its access off a busy highway, there is little through traffic, as all homes are contained on one of four culdesac streets. The subdivision entrance lies directly off Hwy 53, less than a mile to Jasper and Hwy 515, making it a very convenient location in a growing area of town.

For homebuyers in any stage of the process, Philadelphia Heights offers an inexpensive opportunity for a nice home in a quiet neighborhood, close to town.

For a complete email list of homes currently available in Philadelphia Heights, more information on any homes or land available in Pickens County, or daily email updates of price changes, foreclosures, and homes new to the market in Philadelphia Heights, just send Send Us An Email with your request. You can also use the Property Search feature to search Jasper homes for sale by neighborhood.

While I certainly don't want to jump on the media bandwagon and beat the tired drum of a "slowing" housing market, it is necessary to confront the reality of hard numbers. And that reality is that the real estate market in and around Jasper, Georgia, wasn't as robust in 2007 as it was in 2005 and 2006. That's not to say that the situation is dire or that there is cause for panic . . . merely that the recent strength in home sales has subsided to levels closer to what we were experiencing a few years back.

Year-on-year on sales declined from 533 total single-family residential housing units in 2006, to 398 homes sold in 2007 -- a drop of around 25%. Or, another way of looking at it . . . sales were still at 75% of the previous year's numbers. People were still buying and selling houses -- just fewer of them.

If sales were to continue at the same pace for 2008, existing inventory of 584 homes would take roughly 17.6 months to liquidate! A very high inventory level in any housing market.

On the positive side, the average home sale price in Pickens County GA still showed gains from 2006, climbing from an average of $215,367 to $226,841, or a 5.3% gain. Days on market (DOM) likewise showed only a minimal increase.

Overall, in my opinion, the underlying weakness still rests not so much in any flawed economic fundamentals of the North Georgia region, but in a domino effect of other housing markets. With much of our home sales resting on second-home buyers and relocating buyers, the inability of many in markets like Florida, Las Vegas and even Atlanta, to sell their homes, is inhibiting local sales. This then is keeping local "move-up" buyers from selling to buy the larger homes they are after . . . and so on. Any kind of improvement in this scenario will likely spark home buying activity once more.

Financing issues are also likely to be playing a role, particularly for first-time home buyers, but this too will likely see improvement as buyers adapt to new conditions, coupled with efforts by government, lenders and sellers to once again find creative solutions to make homeownership a reality. (I see the likelihood of a surge in owner-financing, rentals, lease-purchase homes, and down-payment assistance emerging once more, despite low interest rates.)

The bottom line for sellers is that only 5.7% of all available homes are selling in any given month (on average). As I stress at every opportunity, in order for a home to be among that 5 or so percent, it must be priced better than the other 95%, and it must show better than the other 95%! Buyers have a choice and they aren't going to overlook repairs, garish colors, or most notably, an above market price. Ignore these simple tips and be prepared to have a home on market for six-months, a year, or even longer.

For buyers, the temptation may be to wait for a "bottom", but that is hard to predict, or even recognize. If there is no hurry to purchase a home in Pickens County or North Georgia, remaining on the sidelines may be a viable option. However, interest rates are low, sellers are anxious, and the ideal home may already be out there. (Again, houses are still selling -- those with the best features, condition and price are going to go first!) Trying to guess a "bottom" may backfire, particularly if rates do start to climb or there is a sudden surge of buyer activity.

Jasper is a growing community, with an expanding business and retirement community, and infrastructure improvements are in the works . . . demand for housing and land will continue. No concern there. Just a matter of time . . .

Summary of Active and Sold Homes in Jasper / Pickens County GA:

For updates on the housing market in Jasper, Talking Rock and Ball Ground, or even specific neighborhoods like Bent Tree and Big Canoe, in Pickens County GA and surrounding areas, feel free to contact Trent with your specific needs!

Lot and land sales for the Preserve at Sharp Mountain In Pickens County, Georgia, have remained relatively strong over the past three-years, with both direct sales by the developer and resales holding their own, in an otherwise soft real estate market. As more homes are built and sold in The Preserve, the neighborhood is developed out a little more, and word spreads about this conservation-minded community, the pace at which lots are sold is likely to improve, but for now there appears to be around six-years worth of inventory of lots listed in real estate.

A definite factor will be whether lot prices hold at their current affordable levels (which they seem to be doing, although there has been some appreciation in the past couple of years). To be such a conveniently located gated community, with so much to offer in terms of views and natural features, at an average sales price of a little over $30,000 per acre, lot prices in the Preserve at Sharp Mountain are still fairly competitive with similar developments around the Jasper GA area.

With the careful planning that the developers have put into this project (including a guarantee that they will refund the full purchase price of any lot that turns out to be "unbuildable", due to any regulation in place at time of purchase), and the growth it has already seen, it is unlikely that this is a neighborhood facing any short terom decline in value or selling strength. In support of this argument . . . nearly 12% of all residential developed lot sales for Pickens County last year (2007) alone were in The Preserve at Sharp Mountain.

For the latest data on market conditions and lots or land available for sale in The Preserve at Sharp Mountain subdivision in Jasper (Pickens County), Georgia, contact Trent Cluley -- Keller Williams Realty.

* All Sales Data is based on available MLS data, for informational purposes -- accuracy not warranted. Private, unlisted property sales not included.

Home sales data for The Preserve at Sharp Mountain in Jasper Georgia is somewhat limited, making it difficult to provide any in depth reflection of market conditions, however that will change with time. The main reason for this paucity of information lies in the fact that The Preserve @ Sharp Mountain is a relatively new development, and that many of the homes are custom homes. It has only been recently that any significant number of houses have become available on the market (if seven can even be considered "significant").

Sales of homes over the past three-years has fluctuated from two, down to one, and up to three for 2007. While a positive sign that the number increased in a slow market, the presence of seven active home listings in The Preserve at Sharp Mountain suggests that unless there is a surge in sales for 2008, home inventory will sit at more than two-years!

The low number of comps and wide range of selling prices also makes any average home sale price in The Preserve at Sharp Mountain difficult to pin down with any precision. While 2007 sales show an average sold price above $600,000, the $500,000+ average suggested by the three-year data below is likely closer to true, when compared with data for current listing activity (and which is also supported by the average lot sale price in The Preserve at Sharp Mountain).

While home prices in The Preserve at Sharp Mountain are generally substantially higher than the Pickens County average, it wouldn't be surprising to see sales remain fairly strong in this community, based on the eco-friendly nature of the development and an increasing demand for this choice of lifestyle -- particularly among higher end buyers, who are also less impacted by the current market slowdown and tightened lending criteria.

For the latest data on market conditions and homes available in The Preserve at Sharp Mountian subdivision in Pickens County, Georgia, contact Trent Cluley -- Keller Williams Realty.

Sales Data for Houses Sold in The Preserve at Sharp Mountain 2005-2007