Jackson Lake is not just for vacation homes any more…
With the combination of the decline in the housing market, local economic conditions and unbelievably low interest rates, it has never been as financially attractive to live on Jackson Lake.
Over the past 24 years since I bought my first home on the lake(at 9% interest) there has been a steady upswing in prices and quality of housing on Jackson Lake. However, with all the factors just mentioned, you can buy a lakefront home at surprisingly affordable terms. Banks are offering up to 95% financing and rates around 4% with good credit scores.
One major factor affecting lower than usual lake home prices is that many long term owners with financial issues caused by this economy cannot afford to keep up their Atlanta home AND their lake property…especially if they are not using it as often as they once were.
There are some great deals at all price ranges(and as always some are priced way too high)but at the high end there are some very large homes in the $400k and up range that are tens of thousands or more off their original asking prices just two years ago.
Also, go to the mortgage calculator at the bottom of the blog page to see the effects of these historically low interest rates on monthly outlays.
Go to WallyCawthon.com and take a look and give me a call to discuss your new Jackson Lake home.