Augusta, GA Housing Market (Evans)

**Home Hunter** · 06-01-2008, 02:25 PM

"It amazed me how a sucker can make this kind of deal. He could get more than 4000 sf newer house (instead of 2800) at the same subdivision with water-front location.

The seller really got a good lottery ticket if the deal is all real."

Samqx,

I agree, it was a great deal for the seller, I am not sure what the buyer was thinking. I have yet to see this transaction on the local tax records, maybe the price is wrong. No matter, it is really impacting the stats on that site.

**samqx** · 06-01-2008, 02:37 PM

Originally Posted by Home Hunter

it is really impacting the stats on that site.

That's for sure . We just came back from 8 open houses in Windmill Plantation. That transaction really made the realtors thinking, I believe.

**Home Hunter** · 06-02-2008, 03:45 AM

As the old saying goes "There is one born every minute"

**Home Hunter** · 06-07-2008, 05:02 AM

CEO declares 'depression' in housing

Toll Brothers head says market could fall by 20% and recovery could be up to three years away.

It looks like market values will continue to slowly decrease until the end of the spring/summer selling season. Homes are selling in this market, but at a much slower rate than a year ago. Like in the 1st Qtr of 08, you should see significant price deceases in the 3rd and 4th Qtrs due to lack of demand and a huge glut of inventory.

**Home Hunter** · 06-07-2008, 05:42 AM

Big Time Loss!!!

Jones Creek (Southern Pines)

Built and Purchased for $820K in late 2006

Purchased by the bank in late 2007 for $662K

Sold in $645K in 2008

With all the ownership costs this is well over a $200K loss!!!

**samqx** · 06-07-2008, 10:19 AM

Jones Creek - Willow Lake

Nice location with water front and watching 15 golf hole.

Was $449,000

Just reduced to $399,000

**Home Hunter** · 06-10-2008, 04:06 AM

4 great reasons to rent

http://realestate.msn.com/rentals/Ar...id=7863122&GT1

I am finding this to be true in the Augusta market.

The dollar savings and the lack of risk (no pressure) are significant!

**samqx** · 06-10-2008, 07:23 AM

Hi Home Hunter,

I am putting an offer for a REO house in Evans. It is a 2006 house about 3400 sf. The offer price is below 300k.

Still love Jones Creek Plantation subdivision, but the railroad nearby concerns me. I can hear train passing by every night at around 12 am.

**Home Hunter** · 06-20-2008, 12:24 PM

[B]What B.R.

**Home Hunter** · 06-21-2008, 04:21 AM

Check on these numbers:

http://www.trulia.com/real_estate/Ev...stats_n_trends

Very interesting!

Note that that prices have increased (due to a few of very high priced (for this area) homes sales).

The real story is the number of sales compared to last year this is a huge decline!

Builders are still adding to the inventory.

Good Luck!