Lake Lanier, the most visited Army Crop Lake in the United States, has a large economic impact on the Atlanta area. It has also become a big player in the metropolitan real estate market.

“The Wells Team” attended a formal class on Lake Lanier. This class, sponsored by our company the Norton Agency, was given by representatives from the US Army Corp of Engineers.

We would like to share some of that information with you.

The Norton Agency, one of the oldest real estate companies in Georgia, has sold more lake property than any other real estate agency. According to Frank Norton Jr., initial lots on the lake sold for $250. Imagine what kind of return you would receive on your investment!

The most important item affecting the lake is the availability of dock permits. At this time there is a moratorium on all dock permits. This moratorium is in effect until the end of August. At the same time, the Army Corp representative told us that there will be a total of 10600 dock permits issued. As of today they are within 100 permits of that number. Once 10600 permits have been reached there will be no more permits issued. If a homeowner fails to renew, or returns their permit, there is not guarantee that the permit will be offered to a new applicant. It appears that we have reached the end of additional permits. THIS IS THE SINGLE MOST IMPORTANT AFFECTING FUTURE REAL ESTATE VALUES ON LAKE LANIER!

Among the topics discussed:

Requirements for a dock, including size, distance from other docks, length of walkways, and type of material that can be used.

Requirements for septic systems on the lake.

Proper transfer of dock permits

Request for clearing of trees, underbrush, and paths on Army Corp property.

Current rain forecast and the effects this will have on the depth of the lake.

Buying an existing house, or a lot on Lake Lanier involves a lot of knowledge of the lake and the regulations that go with it. That is where “The Wells Team” can assist. Our extensive Lake Lanier knowledge (we are both residents of the lake), training, and support from the Norton Agency, can make your purchase much easier. Let us help you find the right location, lot, or house for you.

Lake Lanier prices are not going down. According to Frank Norton Jr., of the the Norton Agency, he predicts that Lake Lanier home sales will rise 7-9% if the lake is below full pool and 12-14% if the lake is at full pool.

This is an opportune time to act. Let us help you.

THE WELLS TEAM,

RANDY WELLS 770-313-5792

BARB DUMONT 404-642-1968

Office Phone# 770-887-0053

http://www.randywellsteam.com