We’ve all been reading about the up’s and down’s of Lake Lanier and hearing too much about the tri-state water wars but the recent holidays and nice weather have brought many boaters, anglers and weekender’s out to enjoy the great weather and still good water levels.

However, the one thing that still hasn’t re-emerged in earnest is the lake home buyer. No doubt there are plenty of people who dream of having that lake cabin or cottage with a nice view of the water and easy walk to the dock. But the market, financing or just fear of future lake levels has kept them jumping in.

Lake Lanier Stats:  Looking at the current stats for lake homes in Forsyth County, there are 150 lake homes with their own private docks on the market right now (as of 9/9/09) with 8 properties under contract and a mere 24 sold year-to-date. For those sold the average sales price is $550,000 but it’s artificially high due to 4 sales in the $1M to $2M range. Otherwise it would be closer to $400,000.

Is this an opportunity for lake buyers? Well, the simple answer is yes because inventory is high and buyers are scarce. However, lake sellers are not typically distressed sellers. In fact, out of the 150 active listings, only 3 are foreclosures / short sales - only 2%. But, if sellers have them on the market, there are deals to be made - it just requires getting in the game.