The severe drought is history but Lake Lanier Property Owners are now facing another harsh reality. Lake front homes aren't selling as they have in the past. Yes homes are selling but at a steep discount. Many sellers are looking for a way to hang on and wait for the market to come back. Bev Knight of Keller Williams found an answer for one of her clients. Mike O'Sullivan of Buckhead Renovations has a Lake Property for sale. He decided, with Bev Knight's recommendation, to enroll his property in the Lake Escape / Lanier Cabin Rental Vacation Rental Program. Bev Knight explained "this kind of program makes good sense for many sellers. The home can remain listed and the seller will earn income during the sales process. This income can help the seller better afford accepting a lower offer in this tough sellers' market". Read Bev Knight's Lanier Real Estate Blog
Many of the Lake Lanier real estate blogs indicate the Lake Lanier housing market is heating up. However, most buyers are looking for distressed, bank owned or foreclosed Lake Lanier property. Do I tear down or remodel? This is a common question asked by property owners and potential buyers. There are many variables that come into play when pondering the issue of tear down vs. remodel. A little background information can be helpful. The lake was built in the 1950's and vacation cottages started lining the shores in the 1960's. As you can imagine the best building spots with the best lake access & views were developed first. For many years a lake house or cottage was not usually a year around dwelling. Building lots were small and septic systems were designed to support seasonal & weekend use. Over the years people have turned these weekend cabins into year around residences sometimes adding bedrooms and other living space. As a potential buyer you may have your eyes on a little cottage with great views, beware you may not be permitted to replace the old cabin with new construction. When a home is torn down your local planning & development office has strict guidelines as to the size and the amount of bedrooms that can be built on such a lot. You may find that you have a lot that can't qualify for even a 1 or 2 bedroom home. Do your homework before calling the demolition team. The old cottage with 3 bedrooms is grandfathered in and the county building offices will most likely allow you to improve or remodel an existing home. When you improve an existing home you continue to use the old septic system and at some point the old system will fail...at that time you will have various systems available to replace the failed system. These replacement systems can be costly, but less expensive than owning a lot with no permit to build. Every property has it's unique set of circumstances. This general information is provided by Lake Escapes LLC.
