In recent years economic forecasts were full of doom and gloom across the country at the beginning of the new year.
But not this year, this year is quite different. Reports now are forecasting that 2015 could be the most exciting year in real estate since the recession began.
In an article from Jan. 26, The Gainesville Times reported that the 2014 housing report released by the Georgia Association of Realtors said the housing market across the state is returning to a healthy condition with sale prices up and home inventory down.
Listings in the state of Georgia rose 5.1 percent last December and pending sales ticked up 22 percent.
The GAR also reported that the average sale price for homes increased 12.6% last year to about $208,000, which is encouraging to Realtors across the state who are forecasting that 2015 will be the best year for home sales since the recession ended.
At the annual Norton Native Intelligence report meeting in January, Frank Norton Jr., CEO of The Norton Agency, also was inspired by the trends in the market and shared five big ideas that he believes could optimize North Georgia during the expected growth in the future. Norton believes that the North Georgia area should be marketed as a mecca for second homes, an additional emphasis put on recruitment of industrial manufacturers to the region and a more streamlined approach to government operations, to name a few.
Here are the five big ideas Norton hopes the area implements in the coming years:
- Turn North Georgia into a second home mecca. Set into motion ways that North Georgia can optimize real estate marketing along with offering services and entertainment to attract young Atlantans to the area. Metro Atlanta is projected to double in size by 2050 and become a tech hub for young millennials. This is an opportunity for the area to cash in on tax dollars that could flood the community on the weekends.
- Refocus our definition of work. Refocus recruitment of industrial leaders to the area. These new industrial leaders are looking for access to ports and interstates which puts a target directly on the area and Jackson County, in particular.
- It’s time to talk collaboration. Work with other jurisdictions to streamline government operations and come to a common ground for the same goals which keeps revenues in mind and the ability to provide better public services.
- Progressive preservation. Even though there is constant growth and change in the North Georgia area it is important to preserve historical landmarks and the souls of each individual community. This keeps intact the charming communities that the area is known for.
- Self sufficiency. Water wars will come up again in the future and reservoirs, in addition to Lake Lanier, must be planned and executed in the area for future sustainability.
With the projections of a robust real estate market in 2015 and massive growth in the coming years, it is an exciting time to be a Northeast Georgia resident and homeowner. Now is the time to buy Gainesville Ga real estate. The average sales price for single family homes in Hall County in 2014 was $218,350 (UP 17.8% from 2013). The average sales price for single family homes in Hall County in 2013 was UP 23% from 2012. That’s 40% over the past 24 months!
