Lake Burton 2010 Sales Summary

LAKE BURTON SUMMARY

RECENT SALES

2289 Blalock Goldmine, listed for $1,650,000 by Harry Normal Realtors Luxury Lake and Mountain, sold for $1,280,000 to a Harry Norman customer.

1067 E. Wildcat recently reduced to $999,000 from an original list price of $2.6m sold for $925,500.  This was a foreclosure situation.

536 Deer Hill Road, was sold before listed to a Lake Team customer for $1,745,000.  This is a very special lot and has potential for an extraordinary new home. This represents a continued lot sale trend. 

518 Moccasin Creek, listed for $995,000 by Harry Norman Realtors Luxury Lake and Mountain sold to a Harry Norman customer for $800,000.

UNDER CONTRACT

The Pointe, listed for $10,900,000 by Harry Norman Realtors Luxury Lake and Mountain.

91 Biltmore, listed for $3,995,000 by Harry Norman Realtors Luxury Lake and Mountain.

1583 Blalock Goldmine Road, is under contract at an undisclosed price to a Lake Team customer before being listed .

PRICE REDUCTIONS

2804 Moccasin Creek Road, has been reduced to $2,595,000.

NEWLY LISTED

87 Lynchburg Lane has been listed for $3,800,000 by Harry Norman Realtors.

BANK OWNED

There are currently two bank owned properties on the market:

1598 Timpson Cove Road -- $1,125,000

1662 Timpson Cove Road -- $999,000

ACTIVE

There are approximately 127 homes for sale on Lake Burton, representing about 11% of the homes on Lake Burton.  If every home that is presently under contract sells, there will be a total of 29 homes sold in 2010 to date.  In 2009, only 13 homes sold on Lake Burton, so the number of sales is greatly improved. Lot / tear downs have been extremely strong this year, with 12 under contract or already sold.

2010 Winding Down but 2011 Will Start Strong

As 2010 winds down, there are still a number of lake properties under contract and scheduled to close either by the end of this year or in early 2011. 

On Lake Burton, 112 Whipoowill, listed for $10,900,000; 1584 Blalock Goldmine (under contract before being listed at an undisclosed price; 91 Biltmore, listed for $1,745,000; 546 Deer Hill (under contract before listed); 1067 E. Wildcat, listed for $999,000; and 518 Moccasin Creek, listed for $995,000 all remain under contract.

On Lake Rabun, 229 Stillhouse Lane (FSBO) is under contract as is 5618 Brandon Mill Road, listed for $650,000.

Another Lake Team Sale on Lake Burton

Another Lake Team Sale. 460 Moccasin Creek Road on Lake Burton, listed for $2,100,000 by Michael McGaughey with Harry Norman Realtors, Luxury Lake & Mountains sold today for $1,787,500.

Price Increase on Lake Burton

643 Limberlost Trail, listed by Harry Norman Realtors, Luxury Lake & Mountains, was recently repriced at $2,995,000. The market on Lake Burton is extremely strong this quarter and this price increase reflects that. For more information, contact Michael McGaughey at 706-982-9030 or Craig Kettles @ 706-982-9031. Harry Norman Realtors, Luxury Lake & Mountains, 706-212-0228 (office).

Lake Rabun Home Auctioned

769 Lake Rabun Road, a bank owned property, was auctioned today by a private auction company. The winning bid for this home, last listed for $5,588,000, was reportedly $1,4000,000. However, It is unlikely that Mountain Heritage Bank, the owner of this home, will accept such a low bid for this special property. This is the home that Jennifer Aniston rented while filming "Wanderlust" the past few months.

New Listing on Lake Rabun

his home on Lake Rabun in the river section, has just been listed by The Lake Team, for $695,000. Equal housing opportunity.

Lake Burton Home Sold

133 Deer Hill Road, offered for sale by owner for $1,790,000, sold today to a happy lake team customer. At the request of the buyer and seller, the sales price remains confidential.