Looking Up
Things have picked up a bit here at the lake- plenty more people came to look and some even purchased. Bargains are still foremost on buyer’s minds, so those homes and properties that are priced correctly have begun to move. We still have far more inventory than buyers, but it will just take a few sales to get those ratios down. Homes are still considered a better value than vacant land. We have had an increase in people who are starting to think about Lake James as a retirement area again. This sector had all but vanished over the last few years. It is encouraging to talk with people who are out “hunting” for a nice place to relocate for retirement. They generally are more interested in buying land and building in the future. Unless they can buy a home now that can be used as rental income, their choice is to buy land that they can hold and use later.
Land Financing
Financing land has been the main issue in low sales lately. We now have two local banks: Carolina Farm Credit and Parkway Bank in Lenoir that are willing to finance vacant land. Rates are competitive and they will do up to 70% loans. That should help us tremendously, if people realize that financing is available again. Thank-you to all of our clients that have stayed with us over the past few years. Your patience and loyalty throughout the past few years has truly been appreciated. We will continue to keep you up to date on all the happenings at the lake.
Here are the final numbers for 2011 sales at the Lake and also inventory going forward into 2012 (As of January 4, 2012)
SOLD
Waterfront homes- 11 from $329,600-$1,350,000
Interior/Off water homes- 5 homes from $190,000-$415,000
Waterfront lots- 5 from $160,000-$435,000
Interior/Off water lots- 2 from $65,000-$90,000 PENDING- closing in next 30 days
Waterfront homes- 2 listed at $995,000 and $935,000
Waterfront lots- 1 listed at $300,000
Interior & Off water lots- 1 listed at $65,000
CURRENTLY AVAILABLE
Waterfront homes- 18 listed from $532,000-$1,895,000
Interior/Off water homes- 19 listed from $79,995-$595,000
Waterfront lots- 27 listed from $162,900- $499,000
Interior/Off water lots- 100 listed from $39,900-$224,900
Upcoming Events
Lake James Real Estate Town Office
Open House/Grand Opening
Stop by our new town office
201 Enola Rd, Morganton NC 28655
Thursday, January 26, 2012 from 4-7pm
Refreshments and Giveaways
Contacting Us
Thank-you again for choosing Lake James Real Estate. The above information was compiled with data available through the Burke and McDowell County Listing Services by our real estate team. If you have questions concerning the market of individual properties at the lake, please do not hesitate to contact our office.
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Water in our Veins–Meet Lake James Real Estate
Please call us if we can help with any of your real estate needs at Lake James – who better to help you than people who live, play and work here!
Polly Leadbetter – Owner/Broker P/ 828-584-9999 C/ 828-443-5407
Loralie Clark – Sales P/828-584-9999 C/704-661-0771
Rhonda Edge – Sales P/828-584-9999 C/828-443-6595
Denice Rechtiene – Sales P/828-584-9999 C/828-432-6976
