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Written by Riezl Baker, Luxury Lake Oconee Real Estate Group

 

To say that 2020 has been an unprecedented year is an understatement. The pandemic has impacted every industry including real estate in our area where a surge of activity resulted in a record-breaking year with over $892 million in sales volume (per Lake Country Board MLS data)

The key trends we saw this past year were:

 

  1. The rise of remote working that fueled a migration from urban areas into our community.
  2. Bigger is better. Families who were stuck in closed quarters upgraded to larger homes with more room to roam.

  1. Vacation homes have become primary residences providing the ultimate “staycation.” Pools, outdoor kitchen and amenities became hot trends as the pandemic drove the emphasis to spending quality time together.
  2. From cabinets to cubicles. Home offices and virtual learning spaces for children have become priorities.
  3. COVID fueled the rise of multi-generational living and family compounds.

 

According to Lawrence Yun, chief economist for the National Association of Realtors, US home prices “are in no danger of declining” in the new year as buyers compete for inventory.

“More companies will allow their employees to work from home and the demand for larger homes will continue,” added Yun. He predicts prices to rise 3% this year following a 6% gain last year.

Here at Lake Oconee, we continue to see sales activity even during these historically slow winter months, with buyers having more time and freedom to continue their search.

There is no crystal ball to tell the future as we learned last year, but if the economic predictions are accurate, how will the market affect buyers and sellers? First, fewer listings and record-low inventory will continue to create a huge advantage for sellers. If you have thought about selling your home or property, now is the time. For a buyer, you must decide fast should you find your dream home or you could find yourself in a bidding war. It is also a good idea to get your financing in order while interest rates remain low.

As real estate continues to evolve, it is important to strategize and work with a realtor who has her finger on the pulse of the market. Knowledge of the inventory and a keen understanding of comparables are invaluable when making big decisions this year. Predictions are pointing to a strong spring selling season as the market remains competitive.  If you are selling or buying, I will be glad to sit down (or zoom) to chat.

FOR IMMEDIATE RELEASE

May 6, 2020

Luxury Lake Oconee Welcomes New Member of Real Estate Team

Jennifer Vaughan

Luxury Lake Oconee is excited to announce the addition of our newest team member, Jennifer Vaughan. Jennifer and husband, Larry, have been residents of Reynolds Lake Oconee since 2010 with their three boys, Matthew (11), Jordan (9) and Brandon (6). Jennifer is a graduate of the University of Michigan with a degree in Language Arts. Vaughan began her successful sales career in the information technology industry with software company Novell, and progressed to Motorola and Symbol Technologies. In 2006, Jennifer married Larry, and they began construction of their home at Lake Oconee.

Jennifer is actively involved in the community. The Vaughan family is a proud member of Lake Oconee Church. Larry and Jennifer are strong supporters of St. Mary’s Good Samaritan Hospital and Lake Oconee Academy. Jennifer serves as a Board Member of the Lake Oconee Academy Foundation. Jennifer has been involved in numerous fundraiser activities for the school including the Denim& Diamonds Committee, the LOA Capital Campaign Committee and Chairperson for the Tees for Titans Golf Tournament, a role she has held since 2015.

“Riezl and I have been friends with Jennifer and Larry for over ten years. After working with Jennifer on community projects over the years, I can tell you that Jennifer is a consummate professional. She has a strong work ethic and understands the value of hard work.” stated Ted Baker, managing broker of Luxury Lake Oconee. “The advantage I had while in sales was that I spent lots of time with the engineers learning everything I could about the products prior to taking them to market,” Jennifer explains. She looks forward to applying the same principles in her role as a Realtor by learning the inventory, understanding the goals of her clients and delivering superb service.

In recent years, we have welcomed a new generation of families who gave up the urban hustle for a better quality of life. Jennifer is well poised to welcome these families to Lake Oconee. Jennifer enjoys exercise, boating and golfing at Reynolds Lake Oconee or Cuscowilla, where she and her family are members. “We are fortunate to live on the lake, a stone’s throw away from the Ritz and major amenities. I pinch myself sometimes and remind my boys to be grateful. I am looking forward to introducing the community and our wonderful lifestyle to others,” said Jennifer. Luxury Lake Oconee Real Estate is a full-service brokerage with over 40 years of combined experience serving buyers and sellers in Lake Oconee real estate.

For more information, call Ted Baker (706) 347-2625.