|
|
|
The real estate market on Lake Wedowee is ever changing. In recent years, the property values increased tremendously due to the limited supply of waterfront homes and developed lots. It was truly a seller's market from 2003 - 2006. With such buyer interest we saw more developers, builders and investors enter the market.
The Lake Wedowee market today is experiencing a very large listing inventory, a major downturn in the economy and a sharp decrease in the number of buyers looking for 2nd homes. It is now a buyer's market and the perfect time to buy with a large selection of real estate listings, prices stabilizing or decreasing and low interest rates.
Before you begin looking for real estate on Lake Wedowee there are several factors to consider:
- Alabama is a Buyer Beware State, which means the buyer must inspect the property and satisfy himself it is adequate for his needs. The seller is under no obligation to disclose defects but may not actively conceal a known defect or lie if asked.
- Randolph County does not have an inspection process for new construction or remodeling.
- Permits are required for septic tank installation and are handled by the health department.
- Docks, seawalls and anything below the 800 foot elevation line is handled by Alabama Power Shoreline.
Alabama Power still owns more than 65 percent of the property surrounding Lake Wedowee. This adds to the beauty of Lake Wedowee. It is not over developed and crowded like many other Alabama and Georgia Lakes. |
When you are looking for property on Lake Wedowee, knowing what prices to expect is important. There are several factors that determine the price of a lake lot or home and the variation in price reflects it. Some of the factors include: - Location
- Water view
- Road access
- Availability of utilities
- Size of the lot
The prices for lots can be anywhere from less than $100,000 to more than $500,000 depending on those factors. Prices for lake homes and cabins vary just as much. Again one of the main factors determining the price is location on the lake. Some of the questions to ask yourself when considering a home on Lake Wedowee include: - Does the home have seasonal water or is it year round?
- Where is the home located?
- Does the home have adequate accessibility?
- Is it important to have easy access to the water?
Prices vary greatly for lake homes and cabins. With the market the way it is, there is not a typical price for lake homes. However, the majority of homes sold in 2007 and 2008 have been in the $300,000 to $400,000 price range but we have seen sales in excess of $1,000,000. We make it a point to know the market. It is our goal to find you the lake property that best fits your needs. Kelly and Leisel CaldwellRE/MAX LakefrontAdditional Links... Small Town Life Lake Map |
|
Whether or not you choose Kelly and Leisel, it is in the best interest of a serious buyer to find an agent who is knowledgeable of the local market and who you feel you can trust to look after your best interest. By working with a single real estate agent you trust and with whom you are comfortable, you will give yourself a competitive advantage over those who are using several brokers.
The Lake Wedowee market is spread out, complex and tends to move very quickly at times. It is simply not easy to find the right home/lot at the best price by yourself. While most buyers and sellers check the market every few weeks or months, our professional real estate agents are in the market buying and selling every day. The experience and "area specific" knowledge they bring to the table is invaluable and impossible to get elsewhere.
At RE/MAX Lakefront, our goal is to provide an "exceptional buying experience" for each of the clients we represent. We have assisted buyers in locating their dream homes, vacation homes, lake lots, land and investment properties. If you are looking to buy or sell property just give us the chance to show you why we are different. We know how busy you are, and we will work with you to get the best real estate investment for you. To ensure we are searching for the right properties for you, use the "Property Finder" online at http://PropertyFinder.ILoveLakeWedowee.com |
|
|
RE/MAX Lakefront - Kelly & Leisel Caldwell - Call 877-959-LAKE (5253)
|
|
All information deemed accurate but subject to errors, omissions and prior sale.
By submitting your telephone number on any of our forms you are consenting for Kelly & Leisel Caldwell to contact you even if your name is on a Federal or State "Do not call List".
Kelly & Leisel Caldwell of RE/MAX Lakefront for all your real estate needs in Randolph County, Alabama including the towns of Roanoke, Wadley, Wedowee and Woodland. Search for homes, rural land, Lake Wedowee properties, MLS listings, vacation rentals, area information.
|
|