Whats the deal with Lake Oconee? (Atlanta, Reynolds: low income, HOA, vacation home)

[ecuresident]

Lately I have been seeing ads for a "sale of property on lake oconee on aug 4th" on various websites such as ajc.com, etc. The prices they are showing are pretty unbelievable- like 40K for an 11 acre lot. It says this is not an auction. Why would they be going for so cheap? Is there a catch? I know other lakes like Allatuna and Lanier are more poplular, but Oconee is about the same distance from Downtown when traffic comes into play, so why isnt it as popular?

[cwkimbro]

I'm not sure what the deal is specifically, but I have been to that lake. It is very nice and peaceful.

One thing I would note... most of Atlanta has grown north. There are a good many people who live really close to Lanier and Allatoona, which makes them extremely popular. Very few people live on the southside or due east in comparison. I would also note... Oconee is actually a little bit further away than Lanier or Allatoona.

One of the biggest problems is property values in any area where people buy 2nd homes or vacation homes are cheaper than ever. As people are struggling to keep or buy their primary residence, secondary properties have taken an even bigger hit. You can also get N. Georgia mountain property extremely cheap right now as well.

The one thing I would watch out for with Lake Oconee that I am aware of... is be careful... the roads and areas around the lake are reeeeally rural. Some areas on the Lake are quicker and easier to reach than others. The Lake is really long, there are fewer bridges and some parts are far away from local businesses (restaurants, grocery stores, etc...). Some types of utility access might be limited in some areas as well. Some parts of the lake aren't developed yet. If you buy there you will need to be careful about where, access to services, ability to build, etc... Many things you might take for granted at the closer more popular Lanier and Altoona. Of course... none of this should scare you away from the lake, but instead make you think of -where- on the lake. (This is a situation where google maps -aerial- images are your friend! You can see if there is stuff near the property or if its completely undeveloped and inaccessible)

The Lake does have Reynolds Plantation on it, which is a very ritzy full-serviced golf resort with a high rated Ritz Carlton. It is a very nice area in parts. It is very peaceful and there are great places to enjoy.

[bryantm3]

have you been to greensboro? sparta? it's very poor economically depressed country. hancock county is the bluest county in the state, not because of any liberal population centre, but because it is 80% black and almost 100% low income. there are trailers and stuff that are on the lake. it's beautiful country, for sure, but the property isn't worth much.

there is one part of the lake that has a fancy resort and golf community on part of it, i suppose that's the beginning of the development you'll eventually see there.

[ecuresident]

Thanks, I figured because the of the Ritz there were a lot of million dollar homes out there.

[cittic10]

Uh because there is nothing there or anywhere near there?

Cheap lake lots are easy to come by in GA however they're usually in subdivisions that have restrictions on what you can build, who you can hire to build them and also can have HOA dues that can be pretty high especially if private roads and private community wells need to be maintained.

You can use the aerial photos on map sites to find all the nearby sewage plants, garbage dumps, railroad tracks, "amateur junk yards" as I call them, and other objectionable features.