Thanks even more for the clarification of the definition of Russell Lands’ second best year. It serves to prove the fact that when it comes to the Lake Martin real estate market, there is much more activity than what is in the MLS. Please feel free to comment anytime. As Broker of Russell Lands, you have an insight to the market that will always be helpful.

Yes, I am excited about The Ridge Club. It will be top notch. If I can clear it with the Boss, I would love to attend the Grand Opening – especially if Mr. Forehand will be entertaining with his musical stylings. My hat’s off to Russell Lands and your many fine fellow employees.

John

Good site and I appreciate your comments on the market.

As an answer to your question related to our sales numbers. When saying this is our second best year, it is in gross dollar volume for all properties listed by us belonging to others as well as gross dollar volume of our lots. Good questions and worthy of clarification.

The number of units will be only slighty off of 2005, which until this year was our second best year. We believe the results are due to the increased interest in master planned developments. We don’t report all of our activity for two reasons. One is that if the property is not listed in MLS prior to a sale – there is no reason to add it to the data. The second is that many of our customers request – as is their right – to keep the price and terms information confidential. Since you are a member of our Realtor Association, I am sure you understand those rules.

Thank you for the comments related to The Ridge Club. The pool was open for Labor Day and the Grand Opening is still set for September 15, 2007. We would love to see you there.

Related to what we have figured out here related to the market…yes we do see a significant number of over-priced properties in areas of the lake that have never seen pricing at that level. As you correctly stated, that is similar to trends in other areas of the country – over pricing due to a Seller’s market. Property that has no other amenities such as access to marinas, golf, tennis, fitness or clubhouses – need to return to the pricicng of 2005 in order to have a chance. What was worth $400,000 then is NOT worth $800,000 now, which is why so little is selling in those areas. Properties priced relative to its real value is still selling.

-Gena Riede