Click on the link below to view the newest Phenomenal Deals and Steals Report.

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It seems that the "perfect storm" hit Lake Lanier last year. First, were the effects of a two year drought which not only left little recreational water but almost left the city of Atlanta without drinking water (oh, those endangered mussels in Apalachicola are special creatures). Then to make matters worse, the mortgage "crisis" hit. The good news is that lake levels are rising (although still a far cry from full pool) and prices for lake front homes for the first quarter of 2008 were, on average, 2.5% higher than the first quarter of 2007!

The Metro Atlanta market has seen declines in both the number of homes sold and the average sales price for the first quarter of 2008. When comparing the first quarter of 2008 with the first quarter of 2007, 35% fewer homes have sold and the average sales price has decreased 4.4%. There are currently 18 months of inventory. The sub-markets of Atlanta vary, so it's important to get information on your specific area, county, and even subdivision. For example, the North Fulton area of Atlanta which includes Roswell and Alpharetta saw a 45% decrease in the number of homes sold but only a 2.2% decrease in sales price. Inventory is currently less than 18 months. If you're wondering about your current market conditions, call or email for a complete report.

Although North Carolina has not been as hard hit as many areas of the country, it is definitely feeling the effects of the credit crunch, weakened consumer confidence, and the struggles affecting the mortgage industry and investment banks. Western North Carolina continues to see a high volume of inventory and a decrease in the number of homes sold. As a result, sales prices have also dropped somewhat when compared to this same time period a year ago. Haywood County, which includes Waynesville, Maggie Valley, and the surrounding areas, saw a 38% decrease in the number of homes sold and a 3.3% decrease in the average sales price compared to the first quarter of 2007. There is currently a 27 month supply of inventory. Buncombe County, which includes Asheville and its' surrounding areas, saw a 25% decrease in the number of homes sold while the average sales price decreased 5%. Currently there is a 15 month supply of inventory. In both areas, homes that show well and are priced well continue to sell.