I’m pleased to provide you with this update of resale real estate activity at The Cliffs and The Reserve on Lake Kcowee from January 01, to September 30, 2006.
Since August, buyer/prospect activity has declined both in terms of phone inquiries and showings. I feel that this may be due to the media’s intanse focus on a natio nal real est ate “bubble” that has “burst”. While many markets around the country have reached a pricing ” bubble”, the Lake Kcawec market has appreciated at a more modest rate over the past six years. During this period, some coastal markets have increased by more than 50% in one year, thereby giving ammunition to the media’s “bubble” theory. For waterfront property on Lake Keowee however, our greatest recent appreciation was during 2004 -2006, with some higher quality water front property increasing in value by 20-30% in each of those years. Generally speaking, view and interior property appreciated at a much slower rate, making relatively
modest gains throughout the same period.
For the full article, please view the PDF: 3rd Quarter 2006 Real Estate Report