Lake Update

Lake Update:

** Up to 90% financing available on Lake Lots with rates between 7.375-7.95% on up to 15 yr amortization!! Banks are still
lending on lots.


The ultimate lake house with a million dollar view. 5 Bedroom 5,000+-sq.ft., gentle slope to lake, finished walk-out, screen porch. $1,425,000 more info	You simply MUST see all the features this beautiful home has to offer! 3229 sq ft of finished living space / w an additional 2156 sq ft of unfinished walkout basement. Deeded boat slip $499,500 more info	Spacious, open floor plan with specialty ceilings and exquisite details at every turn. Gentle sloping lot accented with stone walkways, 140' of riprapped shoreline, sandy beach and a 24x28 covered dock. $798,000 more info

Lake Levels: (7-28-10)

Lake Hartwell: at 658.03'. Just below full pond.
Lake Keowee: 98.2 Down from full pond.

Just Sold Listings

Housing; What are the "Real" Numbers?

The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction

The composite index for the week ending July 23 declined a seasonally adjusted 4.4 percent from one week earlier. The refinance index decreased 5.9 percent from the previous week. However, the purchase index increased 2.0 percent from one week earlier and is the highest purchase index observed in the survey since the end of June. What's all this mean? Refinances are slowing while home purchases are increasing...

When the government numbers come out, I always like to see how our area (Upstate SC, NE GA) is doing in comparison. So, I took the liberty of doing a not-so scientific pool of recent sales on the lake comparing end of July 2010 to the same period July 2009. The numbers locally are all over the board, but generally speaking sales are on the way up. In this period we've seen a 30% increase in Lake Hartwell homes sales compared to last year with an 14% increase in list/sale price at an average sale price of $302k. This is down from last year's $325k average. Lake Keowee home sales saw a more modest 17% increase while the list/sale price was steady at 83% with an average 2010 sale price of $780k vs $775k in 2009.
Lake Hartwell lot sales have seen a 43% increase from same time last year with sales averages at $139k vs $110k from the year before, as well as, increase of list/sale price going from 70% to 84% in 2010. Lake Keowee lot sales are up over 50% with an average list/sale price of 87% with average prices going down from $477k in 2009 to $289k in 2010!
The telling factor in all these numbers and percentages to me is that we are beginning to see the light at the end of the tunnel when it comes to short-sales and foreclosures. There's been a dramatic shift in the list to sale price with the number of sales steadily increasing. As the average sale price goes down and the number of sales go up, the list/sale price has begun to narrow. We can only surmise that the average sale price will increase as the list/sale increases as housing inventory continues to be absorbed by the market.

Hope you and your family are doing well.

-Darren

Wonderful outdoor living spaces with a large screened porch, DOUBLE DECK DOCK! Seneca River Channel of Hartwell Lake. Pine flooring, a open floor plan topped off with a cozy fireplace. BRING OFFERS! $329,000
more info.

Waterfront home with great views, deep water, close Corp line, and covered dock in place. Huge sun room, short paved walkway to dock. $399,000 more info

***EXTREMELY MOTIVATED SELLER*** Don't miss your opportunity to capture this unbelievable deal on Lake Hartwell! NEVER LIVED IN/ 5500+ SF/ Many Quality Features/ UPSCALE GATED SUBDIVISION/ Almost Level walk to your own COVERED SLIP DOCK. $821,500 more info

Don't forget that you can view all lake/area listings on my web site at www.buythelakes.com by clicking the Search MLS icon.


Big water views! 1.06 acres on Lake Keowee. 3BR/2.5BA, cedar shake home. Open living space with so much potential. Priced to sell. You must see the land- it is unbelievable! Landscape incorporates nature with bird sanctuary. Platform dock is old. Asking: $450,000 Sold $400,000	Magnificent Lake Hartwell setting overlooking peninsula point lake lot. Gentle slope walk to dock in place. Yard is planted with mature trees and perennials in back as well as front. Asking: $599,900 Sold $582,500	Just listed, a showplace home for discerning buyers only! If you know North Lake Keowee, you know this home. The appeal from the water captures everyone's eye and now it is available to capture your heart. Asking: $3,395,000 Sold $3,000,000!