Blue Ridge Real Estate

 Real Estate News Article 
    See the North Georgia real estate news article below from Pat Trainor. Contact Pat for more information on these news articles or to help you with your Blue Ridge, Georgia real estate needs.

Pricing Riverfront Property  Unraveling the Mystery
By Pat Trainor, Blue Ridge Real Estate
Now May Be the Best Time to Buy
North Georgia Real Estate in Years


Many of us have taken a vacation and found the North Georgia Mountains the perfect place to retire, buy a second home, or rent a cabin for the weekend. Many people, me included, have actually bought property spontaneously while on vacation -- and while that's not always a horrible idea, a little planning and research prior to your visit will greatly aid you in making a wise buying decision.

Mountain View
Long Range Mountain View in North Georgia

Now is probably the best time in many years to find a relative bargain on a mountain property! Prices on cabins, lots and land have come down from their highs of 2005. Finding the best deal involves research, patience, and a good real estate agent. The mortgage market is tightening and buyers must have a solid knowledge of their finances, credit rating and ability to obtain a loan. Getting prequalified by your lender is more important than ever and will help you negotiate the best deal with the seller.
North Georgia Real Estate Any real estate purchase involves a market analysis and now it is more important than ever. Many buyers are looking for foreclosures thinking them to be the best deals available. While banks may be willing to take a loss on a foreclosed property it may still be overvalued compared to other properties. Owners who have owned their homes or land for years usually have a lower cost basis and may be more willing to sell at a lower price.

It is important to think about what a second home purchase will do to your overall financial picture. Investing in real estate has been an important strategy for building wealth for many people over the years. Yet it may not be for everyone. You should determine the impact on your long-term financial goals.

Many lenders now require buyers to put down at least 20 percent on a second home or you will have to pay for private mortgage insurance (PMI). Your primary home lender may not want to tackle a vacation home mortgage, often our local banks may be a better option. You may be able to tap into the equity of your existing home for some or all of your down payment.

River Living in North Georgia
River Living in North Georgia
Renting out your cabin is a good way to cover some of the cost, but lenders often charge a higher interest rate and will look at projected vacancy rates to determine if you qualify for the loan. Insurance costs for a short term vacation rental will be higher than a normal home owner's policy. Plus, you have to pay the rental management company a management fee sometimes as high as 35%.

On most vacation homes you can write off your interest payments but not much else. Should you decide to put your vacation home in the rental program you may gain more favorable tax write offs. Seek professional tax advice to determine if renting your vacation home makes sense for you. But don't buy a vacation home for tax reasons alone. If your dream mountain cabin fits into your financial plan and life style and you've done your research, it may be the best time in years to buy.

More Buyers Info on this Site
Article by Pat Trainor is the owner of, a site that offers the most comprehensive tools for buyers looking buy or sell real estate in the North Georgia Mountains. Visit his site for detailed MLS search of 15,000 active listings. Pat is an Associate Broker for Coldwell Banker High Country Realty located in Blue Ridge, Georgia.

Please feel free to re-publish this article on your website, provided that the above resource box is included at the bottom of the article and that all links within the box remain active.

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