My New Blog

Initially, at least, this blog will center on Cherokee County, GA real estate as seen through the eyes of a real estate appraiser. Before we look at any specific neighborhoods, let’s look at the wider metropolitan area. Values at their lowest point were down an average of 23% from their peak at the end of 2006 and the beginning of 2007. Lower priced homes are generally down less and higher priced homes are generally down more. Not just in dollars but in percentage of decline which means the upper end has really suffered.

Cherokee County follows the general trends of the metro area but also suffers other effects on its markets. In markets with high numbers of foreclosures the decline in values can be even larger. Here is a break down by zip code.

Zip code    Past year     2006-2007     Percent Decline

30102         $130,000     $155,000         16%

30189         $174,000     $218,000         20%

30188         $165,000     $192,000         14%

30114         $159,000     $206,000         23%

30115         $224,000     $242,000         7%

30004         $500,000     $560,000         11%

30107         $170,000     $221,000         23%

30183         $172,000     $221,000         22%

30184         $212,000     $270,000         21%

The average decline is 17% for these zip codes in Cherokee County. That is better than 23% for metro Atlanta. If your county tax appraisal is the same or nearly the same as it was in 2006 or 2007 chances are good you should be paying less in taxes this year.  If not it is time to look into a tax appeal.