Lake Wedowee Market Update

New Construction is where it’s at!!

The good news… There have been more lakefront home sales so far in 2007 than for the same period in 2006. Since May 1, 17 lakefront homes have sold on Lake Wedowee compared to 11 in 2006. However, there has been a shift in the market.

More than half of the lakefront homes sold this year have been new construction with nine selling in the last 60 days. 

The not so good news… With all the new construction, existing homes sales has plummeted in the last 60 days. Since June 1, only one existing lakefront home has sold and only four are currently under contract. 

It is hard for individuals to compete with builders. Usually the builder has more than one home under construction and therefore can “wheel and deal” a little bit more than the average home seller. Plus, home buyers typically prefer new.

However, there are ways for the individual home seller to compete with the builders. Price, of course, is the best way to compete, but there are other methods.

We are seeing more and more homes sell furnished or with other incentives such as painting allowances and dock allowances.

The bottom line is to make your property more attractive than its competition. As of July 25, there are 93 listings for lake property on www.ezMLS.com, more than half are less than two years old, 20 have been built this year. For the lake as a whole, this is a great news, new construction is good for the economy, but it gets tricky for the existing home sellers who need to sell.

A REALTOR® can help you decide the best plan for you, if you are an existing home seller. There are a variety of ways to make your home stand out not only to prospective buyers, but area real estate agents as well.

$5,000 off Through Labor Day

Living on the lake has never been easier when you call Sunset Point home.

The development, located on the wide water of the Little Tallapoosa River on Lake Wedowee offers more than low maintenance living on the lake. It gives you a true home away from home.

“Sunset Point provides a close-knit atmosphere among property owners that you might not find elsewhere,” Sunset Point owner, Richard Carter, said. “It's a great place to share friendships, have fun, and enjoy outstanding recreation on the lake.”

Sunset Point consists of “Park Model Homes,” which gained popularity through the RV industry, and are roughly 400 square feet in heated space.

“I can't imagine having a huge house to clean with another yard to maintain at the lake,” Collin Cash, homeowner, said. “We spend so much time on our porch that I rarely have to do any actual housework.”

While the interior living space is small, it is more than made up for by the sizable porches.

“My grandson calls these porch houses,” Owner/developer Leisel Caldwell said. “There are 1200 square foot porches attached to some of these houses.”

Only three waterfront homes are still available at Sunset Point and all are priced under $140,000.

“Sunset Point is the best personal investment we have ever made,” Tammy Sweet said. “It’s affordable, neighborly and definitely family oriented.”

The development has an eight-foot wide boardwalk surrounding the 1,100 feet of shoreline which is used as private docks for the waterfront owners.

The off-water owners also have access to the lake through three community docks.

“Sunset Point offers an affordable solution for those who might not be able to afford typical lake front property without sacrificing access to the water,” Carter, an off-water owner, said.

There are currently four off-water cottages available all priced under $100,000.

“The community atmosphere is what is so neat about Sunset Point,” Caldwell said. “It is very reminiscent of neighborhoods when I was a child. There is always something going on around here. We have had street parties, game nights, and we always see children  riding their bicycles with their neighbors.”

Sunset Point is one the most affordable developments on Lake Wedowee  and in most instances, you can buy at Sunset Point for less money than you can buy a waterfront lot.

“ We had originally planned to buy a lot, put a camper on it and build over the next couple of years,” Cash said. “After looking around, we found that buying at Sunset Point would enable us to start using our lake property immediately. - no dock to build, no utilities to run.  For the price, we just knew that Sunset Point was the best choice for us.”

Full House for 1st Lake Wedowee Poker Run