Building Your Personal Financial Team

  Building Your Personal Financial Team as you seek knowledge and clarity of the different financial options as we combat inflation and recession.

In this challenging financial environment, we are all seeking advice on wise investment strategies and the safest haven for our money as we try and beat inflation, recession and an overall threatening economic tone.  Having a partner who is versed in the Real Estate Market is essential.  Seek a dedicated full time Real Estate Professional who knows the housing market and makes it a part of their duty to clients to make certain they are properly informed of the ever-changing market.  The Real Estate Market is and always has been one of the safest investment strategies, and being a Professional in this market is beyond being a salesperson.  

Don’t rely on one well-rounded intelligent individual to handle the multiple facets of investment options out there, and let us not allow the negative news influencers to carry us away into no-man’s land.  Real Estate will remain a viable investment with growing population and shortened inventory and resources.  An investment is important in this sector.  Mortgage rates are still low comparing historical rates of the past.  Go into winner-mentality instead of feeling burdened by unreliable and distorted headlines. Build your specialty team with a dynamic Real Estate Professional to handle your Real Estate research and portfolio. Other integral components of your team are your Investment Banker, Business Broker, Mortgage Broker and Insurance Expert.  The right Team built on their individual strengths will help to ensure the best tactical guide of money survival and return on investment.  Contact someone who has their fingers on the pulse of the current Housing Market and Economic facts.

Michelle Miller Real Estate at Coldwell Banker High Country Realty provides a wide variety of services to accommodate the needs of sophisticated buyers to first time home owners covering several strong SouthEast Regions; but in particular – the Northeast Georgia Mountain Region from Ellijay to Hiawassee.

Contact Michelle to support your Real Estate needs Professionally and with Integrity.  With her on-ground Construction knowledge and contractual legal experience as a previous Certified General Contractor and Licensed Home Inspector, she gives enormous value to your decision making. She has multiple years as a top producer in the Real Estate sector. 

Currently Licensed in GA & FL.

Monthly Housing Market Update

February 2023 

Monthly Housing Market Statistics Update for Union, Towns, Fannin & Gilmer Counties in North Georgia Mountains.  Data provided by NEGBOR and presented by Michelle Miller Real Estate at Coldwell Banker High Country Realty.

Information Includes Individual Monthly Statistics on the following categories:

– New Listed Properties

– Average Sale Price

– Number of Sold Properties

– Average Days on Market

*Michelle Miller is a Global Luxury Property Specialist & Certified Luxury Home Marketing Specialist

Monthly Housing Market Update 

Executive Summary by County / February 2023

FANNIN:  Fannin County is now seeing slowing sales units and also softening prices.  The average transaction value in February was 9% lower than in February 2022.  It doesn’t feel that way on pricing, but that’s what the statistics say.  

UNION – has seen volumes drop 13% from January, and 50% from a year ago, but prices have held pretty steady.  Not much up, but also not much down, prices are kind of wiggling along level over the course of the last year. 

TOWNS – had a small drop in volumes from January, but that was stacked upon other volume declines so that the transaction count in February was 53% lower than February 2022.  While average prices are still down 20% from a year ago, the good news is that prices rose in February 23% from January.  So, the balloon may be reinflating some in Towns.

GILMER – is looking good.  Even though volumes are lower than last year, the February activity leapt by 35% over the very flat January, and also prices are still inching upward.  February average transaction price was also 35% higher than one year ago!

Residential:  Overall, and despite all, the average residence sold in February across our MLS was valued 3.5% higher than in January and 3.2% higher than one year ago, coming in at $462,861.  Even though not ripping in sales units as in the last two years, I’d say those prices reveal a stubbornly strong real estate market in the mountains.  What a great place to invest one’s hard-earned money!

Lots and Land:   The average transaction price of the very broad category of lots and land is now running a little lower than over the past year but the mix of types of land & lots makes such a difference in this statistic that it’s hard to determine a clear trend.  Interestingly, though, the average per acre price in February went up to $15,441, which is 5% higher than January and 4% higher than one year ago. 

Rental Statistics for Fannin County / Gilmer County

Information Provided by Fannin County Chamber of Commerce.

FANNIN & GILMER SHORT TERM RENTAL (STR) RANDOM STATS Jan. 2023

Economic Impact in Fannin Co. in 2021 was $272.5 million. The hotel/motel/cabin tax revenues are
already up 17.5% from Nov’21 to Nov’22, so it is expected that the economic impact will come in at least
15% more for 2022; that’s well over $300mm impact –  just in Fannin Co.!

Fannin County Chamber of Commerce wrote recently, “The Coronavirus pandemic actually doubled
overnight visitation from 2019 to 2021. Visitors were drawn to outdoor destinations within driving
distance, and especially to those with vacation rentals.”

I, personally, do not believe the economic impact statistics above include the significant construction impact
just for new rental cabins. The Chamber of Commerce director in Gilmer Co. said she had very recently been
contacted by an investor saying he has plans to construct 15 new cabins in Gilmer Co.

Available units in Nov ’22 for STRs in Fannin was 2,624, up 21% from 2021. (1 yr)
Nights demanded was up 19% and total revenue was up 21.9% .  Available units in Nov ’22 for STRs in Gilmer (including Cherry Log) was 1,515, up 93% from 2020. (2 yrs)

Occupancy rates:

Fannin 2022 = 56%        Gilmer 2022 = 61%
Fannin 2021 = 60%        Gilmer 2021 = 74%

Reduction due to the addition of so many units available.
Huge growth in units available attributed to:

– new units built 

– converted units (residence or second home converted to rental)

– newly reporting units   (prev under the county tax radar, but now counted due to new law in Ga, effective mid-2021, requiring virtual rental company’s like VRBO & AirBnB to report and pay the occupancy taxes)

Click here For Important Local Information & Articles.

County Rental Rules for Short Term Vacation Rental Properties.

Blairsville, Suches, Young Harris, Blue Ridge, Cherry Log, Epworth, Mineral Bluff, Morganton, McCaysville

The information regarding new Short Term rental rules (ordinances) below is what has been provided to us by Union and Fannin Counties.   Information provided in this blog was provided on March 24, 2023.  There may be changes in these rental rules that have occurred since this printing; so please verify this information with the appropriate local government.  Please contact the County directly with any further information.

For purposes of this blog STR = Short Term Rental.

Go to this link: North GA Counties for a breakdown of what Town belongs to which County in our North Georgia Mountain Region if you are unsure.

Union County Board of Commissioners / Rental Rules Update: 

Individual Short Term Rentals on different pieces of property are subject to a new Union County Short-term Rental Ordinance.  This Ordinance was adopted on March 9, 2023 and will go into effect on April 8, 2023.

The following information can be found at the Union County Short Term Rental Business Center page.   They have done a great job communicating throughout this whole process.

If a single piece of property contains more than one STR, and if all dwellings are owned by the same property owner, the property is considered a Tourist Accommodation and is subject to permitting and regulation by the State Department of Public Health.  Tourist Accommodations follow State guidelines, but are subject to local Union County STR Excise Taxes. To learn more about the Tourist Accommodation permit, download THIS DOCUMENT and/or call (706) 781-3824.

Information needed and how to file for this license:

Contact the Union County Tax Commissioner 706-439-6000. You will need to ask them to register you cabin. 

Items needed:

• Complete and sign the Hotel-Motel Tax Registration Form to register your rental.
• The S.A.V.E Affidavit must be signed and notarized verifying you are a United States citizen. This is required by the State of Georgia.
• Submit a copy of your driver’s license or passport.  Applicant may take a picture with phone or scan in a copy. 
• Applicant will be asked to upload a copy of the STR property septic permit or evaluation. To request a copy of the septic permit or evaluation, call Environmental Health at (706) 781-3824.
• Complete STR application which will be available on 4/8/2023 under Step 3 of the Short Term Rental Business Center here.

For a quick overall understanding of Union Counties rental rules, download THIS FAQ DOCUMENT.

Here is a link to the Union County Short Term Rental Ordinance.

Fannin County Board of Commissioners / Rental Rules Update:

Each cabin owner who rents a cabin in Fannin County needs to fill out and notarize the Lodging Provider Registration form and send in the administrative fee of $100.00 (unless they already have a Lodging Certificate).  For owners with multiple cabins, only one form needs to be filled out and only one Administrative fee is required. These forms are due by the end of August each year.  Any questions regarding this form or the fee can be directed to Debbie Jackson at the Fannin County Board of Commissioners 706-258-5171.

Here is the Fannin County Ordinance.

The City of Blue Ridge has it’s own Ordinance for Short Term Rental’s and the website to research and retrieve forms is here: City of Blue Ridge STR

“Many localities in areas across the country are considering or adopting ordinances that limit or prevent the ability of property owners to rent out properties on a short-term basis. The dynamics of this issue are complex. The infringement upon property rights is a common theme when local governments limit the use of property. Property ownership includes the right to gain income from property; whereas local governments are granted the legal authority to regulate land use within their jurisdiction by police powers and/or zoning regulations.”

– Sourced from the NAR View the Article Here

The product featured here is from our partners who compensate us.  This may influence which products we write about and where and how the product appears on a page.  However, this does not influence our evaluations. Our opinions are our own.

Add a fantastic, truly squirrel proof feeder to your bird garden. This weight sensitive feeder has features to confuse and keep  squirrels from dining on the bird’s favorite seeds.

– The motorized perch ring is designed to start spinning under the weight of a squirrel to ‘flip’ the squirrel off the bird feeder

– Tube bird feeder holds up to 5 pounds of birdseed and has 4 feeding ports

– Bird feeder is constructed of heavy duty metal base and cap. The seed tube is UV-stabilized polycarbonate and won’t fade

– Internal baffle is desinged to keep seed flowing freely to all four seed port

Droll Yankees has been making their products in the USA since 1969!