Showing a couple homes yesterday on Lake Lanier it hit me that Lanier is well on it’s way to our previous historic low of 1,051. Our previous low was saved by a hurricane parking over the Lake Lanier water basin for a couple days filling Lanier to well over 1074. It would appear that with the continued drought and problems with Florida and Alabama over water output that might just slide past our previous record.
Sellers with Lanier properties are really scrambling for what to do with this bad news. Although lake properties are selling at a brisk pace most are closing as distressed homes or with zero equity being paid out at the closing table. Buyer are now very aware of our past lake levels and what the drought exposed (currently showing on Google Maps and Bing) and are only seeking waterproof listings. Those properties deep in a cove or without views are just not selling. As a long time Lake Lanier listing agent and buyers agent it was easy to write off the initial low levels saying this was unusual and a strong rebound was sure to come. Trying to explain two drops in the last five years is starting to wear thin on my Lanier investors who are actively seeking other southern lakes that have a consistent water level (Lake Burton, Lake Rabun, Lake Seed).
Lake Lanier Water Level
My suggestion for sellers. If you have drought proof water, a dock permit, and a little room to negotiate I have plenty of buyers seeking top tier properties. If you have a Laneir home that might need to sell short sale or are considering foreclosure please give me a call, again, I have the buyers needed to make this work. The short sale negotiations are a chance for existing homeowners to mitigate their losses with banks and possibly walk from the property. Not every short sale is a success but it’s much better than a foreclosure. A word of advice – Listing with an experienced agent before you miss a payment has a better success rate for a closed short sale.
Buyers – Pre-qualification is key in negotiating with owners and banks in today’s market. If purchasing with cash I suggest an LOC from your bank before even starting the search. Once ready you are seeking the right location (south, north), right function (water, age, view), and price (speaks for itself). I tell my buyers we will find two out of three on most every lake viewing. Three out of three would suggest the home is perfect and would more than likely have multiple offers. My best advice for buyers. Be ready to write a contract tonight for the right property.
Call today to schedule a couple showings. If not already signed up for my “Lake Lanier Hot Sheet” please give me a call. Registration is free and for most of my Lanier buyers is the sole reason they own a lake house. 770-990-0743 -
Working with buyers and sellers in Cumming, Gainesville, Dawsonville, Buford, Flowery Branch, Oakwood, Gwinnett, Forsyth, Hall, Dawson Counties. For more information about Lake Lanier, Buford Dam, water levels, exposed humps, dock permits, shoreline, Lake Lanier Islands Water park please give me a call.
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