Jeanne Dufort, Madison and Lake Oconee GA

When researching a new place to live, its important to understand how local property taxes are assessed.

Here in Georgia. each county, municipality, and local school board sets the millage rate - which is best understood as "how many dollars per $1000 in taxable value" will you have to pay.

But wait! Its not that simple. You see, in Georgia, we begin with the county tax assessor setting a "fair market value" for each property. The Fair Market Value represents a reasonable idea of what your property might sell for if recent sales of similar properties are taken into account. The Fair Market Value gets multiplied by 40%, to get the value to which the millage rate is applied.

So if the Fair Market Value of your property is $100,000 and the millage rate is 25mils - your calculation will be $100,000 x 40%, or $40,000 divided by $1000 times 25, or $1,000.

Some properties or owners may qualify for special tax breaks - disabled veterans, for example, or limited income seniors. In some counties, there are tax breaks available to for just a portion of your taxes - some offer senior tax abatements for school taxes, for example. Its important to check with the local tax assessor to see if you qualify for any special property tax breaks.

There are three counties adjoining Lake Oconee:

Morgan - 2011 mil rate is 24.875, or $995 per $100K of fair market value

Greene - 2011 mil rate is about 17.638 (varies by local fire district), or $705 per $100K of fair market value

Putnam - 2011 mil rate is 16.8, or $672 per $100K of fair market value

Finding a home you love, in a community thats a great fit, and at a price that suits your budget will always be the most important criteria when choosing your next home - so don't fall into the trap of making a BIG decision on just one criteria like local property tax rates.

When I closed another Lake Oconee home last month, my buyers thanked me, and promised to send a letter of recommendation soon.

Imagine my delight when I found these glowing words in my inbox today!

<<We feel quite blessed to have had the opportunity to “find” you as a realtor as we searched for lake properties. We appreciated your expert assistance and guidance throughout the purchasing process particularly including the various offer/counteroffer phases. We are very grateful that you were always available, always immediately responsive and always provided us expert guidance throughout the intricacies of the home purchasing process.

You were always willing to answer any and all questions, no matter how trivial, in an expert and thorough manner and always went the extra mile in your responses and advise given to us.

In all my dealings with other property purchases/sales, I can truly state that there has been absolutely no other agent that compared with the service and expertise you provided us during this home purchase process.

We want to thank you so very much for everything you did for us during this purchase and would gladly and highly recommend the services you provide to others. As my wife put it – you were “GREAT!”>>

Since discovering Lake Oconee and Madison back in 2000, I've been a big fan. So when I decided to retire from a 25 year career as a home furnishings executive, it made sense to become a recruiter of sorts for the beautiful area I call home.

Some call me their "rural lifestyle consultant"

One clients says my "attention to detail is in the league of a highly proficient chemical engineer."

This family says "no other agent compares".

The truth is that I wake up every day with one clear goal - to be the realtor that I would hire (which is a pretty tough standard!).

Today we got word that another lake home contract has been accepted - this one is a bank-owned property on Lake Sinclair, and we had to get senior management approval on the deal.

If you're looking for property in Georgia's Lake Country - a five county area featuring Lakes Oconee and Sinclair, plus historic Madison - and you want a professional on your team - why not give me a call.

It will be my pleasure to help you follow your dreams.

Market Report - Georgia's Lake Country, featuring Madison, plus Lakes Oconee and Sinclair.

Last evening I had the pleasure of hosting the 2012 Awards Banquet for the Lake Country Board of Realtors. We inducted 28 individuals and 7 teams into our Million Dollar Club, and gave four Realtors the Phoenix Award for 10 consecutive years membership in the Million Dollar Club.

I took a moment to give a "state of our market" summary:

From 2005-2007, our MLS reported about $450 million in annual sales - the last three years have been about a third of that.

From 2005 to 2007, our MLS reported about 1300 transactions per year - the last three years have been about half of that.

From 2005 to 2007, our average transaction amount was $360,000 - the last three years we been closer to $270,000.

The share of distressed sales - REO and short sale properties - coupled with a challenging lending climate has increased the workload and uncertainty of each transaction, with many more deals falling apart instead of getting to the closing table.

So your average Lake Country Realtor is working harder for less money than ever. Its been a difficult time.

However, last night we took a moment to celebrate the survivors - those local Realtors who found a way to do business under tough circumstances. Fittingly, our Realtor of the Year honors went to our hard-working local REO specialist.

And I offered hope! You see, in every way I can find to measure our local market activity, we hit bottom sometime in 2009, and for the last eight quarters have been bumping along near the bottom. In some categories we are seeing growth - last year we sold 60% more private lakefront homes on Oconee than in 2009. In some price categories inventory is getting scarce - in others we still have excess inventory.

Here in Georgia's Lake Country, we are confident that the fantastic quality of life people find here will ensure that our market will continue to improve.

I'm seeing a significant pickup in my business, with 8 closings in January and February, and more scheduled for March. My buyers are recognizing that the triple play we have right now - big selection, low prices, and historically low interest rates - may not last.

Lake Oconee home sales continue to climb in 2011, according to statistics compiled by the Lake Country Board of Realtors MLS.

When I dubbed 2010 a "rebound year" in my 2010 report of private lakefront sales on Lake Oconee, I had no way of knowing that the trend would continue into 2011, of course. Lets let the numbers do the talking:

89 homes sold in 2011 - a whopping 29% increase compared to 2010, and a 62% gain over 2009. We're still far short of the market record 166 homes sold in 2004, of course, but definitely showing consistent recovery.

The 2011 average single family home with private frontage on Lake Oconee sold for $643K, a 9.4% decrease compared to 2010. This particular stat can be misleading - it sometimes simply reflects the mix of what sold rather than price movement in comparable homes.

This gorgeous home 7600sf home with 4 bedrooms and 5.5 baths sits on a peninsula in the Great Waters community in Reynolds Plantation. The original listing price was a lofty $4.6M, but the lucky buyer was able to close the deal for $2.15M, and earned the title of most expensive lake home purchased in 2011.

On the other end of the spectrum, is this 1450sf 3 bedroom.2 bath cottage, which sold for just $120,000. The lakeview and lake access are more limited, with just a shared wharf dock and a home set well back from the water - but I'll bet the family who purchased the most affordable private lakefront home on Oconee will have great times on the water this year.

Lake Oconee is Georgia's second largest recreational lake, with 19,500 acres of relatively calm waters. Located about an hour east of metro Atlanta, the lake offers recreational boating and fishing and a local community reknowned for its championship golf courses.

There are still great deals to be had - one of my buyers will be closing on his deal steal later this month. If you'd like a personal review of the hottest buys on Lake Oconee - why not contact me today.

Market Report - Lake Oconee, Lake Sinclair, Madison - residential sales update November 2011

Residential sales continue to improve in Georgia's Lake Country, a five county region surrounding Lakes Oconee and Sinclair located just an hour east of metro Atlanta.

Through November end, there have been 410 homes sold with an average price sold price of $278,897 - about 90% of list price. This is a modest increase from the 380/379 homes sold in 2009 and 2010 in the same period, but is well behind 2007's record high for the region of 724 homes sold.

With 907 homes currently on the market, buyers have plenty of choices in most categories, but we are beginning to see well-priced homes go under contract quickly - a sure sign that buyers believe the bottom of the market is behind us.

If you're thinking about buying a home in Georgia's Lake Country, and would like some help uncovering the best deals in your price range, I'll be happy to help.