Hank:
Everyone has opinions on the market and only time will tell who is correct. While I don't disagree with everything you said, I would like to call out a few points for contention:
- Cherokee County has no “business/commercial”: Granted it's a bedroom community, but there are a number of quality commercial business parks, see
http://maxsell.net/cherokee-office-industrial-parks-cherokee
- The inventory problem is very price-point dependent and we don't know enough to advise this Buyer yet ont he true accuracy of inventory problems.
- Cherokee County schools ranked 2nd in the State and Metro area for 2008 SAT results and is 67 points above the combined total average of the Nation and 112 points above the State in critical reading, mathematics and writing. Not exactly a marginal system, again it depends on ages of kids and specific schools.
- You ask how the county continues to develop... the answer is population growth. Of the 100 fastest growing counties in the country, 70 were in the south and 18 of them are in Georgia (more than any other state in the country) and Cherokee ranks 6th in GA with over 10,000+ pop. growth per year:
http://maxsell.net/atlantas-fastest-growing-counties/
However, I do agree that stagnant may be the status quo for the overall county as we work thru the over-supply and foreclosure issues. It may take two years as you stated to do this, but in my opinion this will be a prolonged bottom with only a little more price depreciation. In fact, many price-points will see values appreciate over the next couple of years. It is a very unique and hyper-local situation. We just need more details before able to advise a buyer properly.
That's why at Maxsell Real Estate we believe in in having more conversations and less presentations.
- Wed Sep 17 2008, 13:32