Summer has been in full swing now for several weeks. We have had lots of visitors enjoying our lake house with us and taking advantage of Watauga Lake's abundant recreational activities. Boating, swimming, fishing and hiking have consumed most of the daylight hours. Evening time is prime for a campfire at the lakefront...of course accompanied by a glass of wine or two. We are so blessed here. Watauga Lake remains an undiscovered paradise without the crowds and overt tourism found in other more well-known vacation spots. Our college kids, home for the summer, have taken full advantage of the lake practicing and perfecting their wakeboarding skills. They are having a blast!
Salvatore has been working. The real estate market is moving, slower than in years past, but moving none-the-less. It is a reflection of the larger economic picture. Financing appears to be the road block for most Watauga Lake real estate transactions. The interest rates remain low for home financing, but are higher for land purchases. Sales prices have fallen slightly and the market remains a buyers market overall. However, the good news for sellers is that Watauga Lake real estate prices have remained fairly stable. Past transactions reveal that property values here did not spike as in other geographical areas, but have consistently increased over time at a reasonable rate. There has been a slight correction, but nothing compared to the Florida market, where properties have often been discounted 50% or more. Owner financing and other creative arrangements are enabling buyers to buy and sellers to sell. This is good news for Watauga Lake real estate transactions. Watauga Lake also has the advantage of limited supply because of the restrictions on development around the lake. The beauty of the Cherokee National Forest will remain unspoiled - a definite bonus for all who live here and vacation here.
Feel free to check out Salvatore's website: www.salvatoremalantonio.com
Happy Summer!
Susan
