The executive of one of North Georgia's largest Real Estate companies offered a stark warning that low lake water levels are likely to stunt the growth of house prices.

Frank Norton Jr., head of the North Real Estate Agency noted that as things stand house prices on Lake Lanier will rise 7 to 9 percent. However, if the lake returns to full pool, those numbers could be closer to 12 or 14%.

He was speaking at the Georgia Mountain Center in Gainesville during his annual Native Intelligence Report.

His other key points include:

• Infrastructure around Lake Lanier, particularly the road system, is still weak.
• Dock permits will run out in the middle of 2007. The value of houses with dock permits should rise sharply after that time.
• Atlanta will not only keep growing towards Lake Lanier but will go even further to places such as Lumpkin County. 

Source: http://www.gainesvilletimes.com/news/stories/20070105/localnews/148104.shtml