Great time to buy! It is definatley a buyers market and interest rates are good. You have plenty of choices available in the 30114 zipcode you are looking in and I work that zip code area so I am very familiar with the homes and prices . I would go ahead and make sure you are approved for a mortgage before starting. If you would like to preview homes on-line, please feel free to look up my website at http://www.searchhomesbysandra.com or email at shordos@prudentialgeorgia.com. Have a great day!

As you may know it is definitely a buyers market. There is an abundance of homes and land available in Cherokee County and with low interest rates it is a perfect time to buy!
Click on the link below to view a brief video that will explain Atlanta’s market.
http://www.atlantarealestate2008.com/
Don’t Dream A Dream Buy One!
Visit http://www.lisarhea.com and find your dream home today!
Lisa Rhea

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.

Hi Jeff -

I live in 30114 and do a fair amount of business here, both sales and appraisals; I have what I think is a good feel for the market. My opinion is that Cherokee County, as well as several other outlying counties will be stagnant for some time, I’d say a good two years. This is based on a few major points:

• The general economic slump which is impacting every market
• Cherokee County has no “business/commercial” centers, office parks, etc – residents typically commute and the cost of gas has made homes in outlying areas less attractive
• The commutes down 575/75 and many secondary roads are becoming major issues for commuters
• The amount of inventory in the area is significant and the oversupply will be present well into the future. As Brad pointed out, an 18 month absorption rate is going to be extended further as this economy spins out of control
• Schools in Cherokee County continue to sputter. Several schools in that zip are marginal at best – opinions on schools vary but the data shows these schools behind others in adjoining counties.
• Development continues despite several communities that sit and builders that fold – Lake Arrowhead is underway and Canton West continues to be pushed. How the area continues to add to an already wildly skewed inventory is mindboggling.

All that said, clearly you have a strong hand to play as a buyer. While we don’t know anything past what you wrote, you should be able to find a home on acreage fairly easily. I strongly encourage you to be pragmatic and forward looking; you’re likely to find a few good choices but do your homework. You cannot bank on any significant appreciation at this time and it’s my opinion that Cherokee County has yet to reach the bottom of the price drop. Between the expected normal supply, add foreclosures, bank owned homes and standing new construction – and then factor in the reduced number of qualified buyers looking in Cherokee County. Brad introduced good stats, but I try to consider seller paid concessions when calculating sale to list price ratios; that will drop them a bit.

I don’t mean to be negative, but I want my clients fully informed and that means educating you about the good and the bad aspects of what you’re asking about. Atlanta is a series of micro markets and this same thing is happening in North Forsyth, East Gwinnett, Paulding and other outlying counties; not just Cherokee. Again these are my opinions and I’m guessing I’ll catch flak, but at the end of the day this opinion is based on working here since ’94.

If we can help you, please feel free to drop me an email or give me a call. You can search listings on my site or we can set you up with auto searches emailed directly to you. Hope this helps –

Hank Miller, SRA, ABR
Associate Broker & Certified Appraiser
REMAX Greater Atlanta
678-428-8276

Jeff,

Give Becky a call. She will be your best asset for that area!

If you need assistance selling your home in Marietta I can help on that end!

The market for homes with land is fantastic for buyers right now! Interest rates recently dropped to about 5.5% plus as we head into the fall and winter market, sellers are much more motivated so there are some great deals out there.

My website makes it easy to search for homes on acreage - it lets you search all homes for sale in a specific area based on acreage and lot size, plus you can sign up for auto emails of new listings matching your criteria. My website is http://www.beckysrealestate.com. I would love to help you in your search if you don't already have a buyer agent and my office is located in hte 30114 zip code so I know this area very well!

Canton has an absorption rate of 18 months to sell all existing inventory. This points to a nice a buyers market, but keep in mind that houses have been selling at 96% to 97% of List Price. You can see the latest market stats for Canton, GA at http://maxsell.net/canton-market-stats/

You can also search ALL available properties at http://www.ihomefinder.com/idx/search.cfm?cid=3237&st=10…

Let us know if our Maxsell agent can help you find the right land/house for you.