Lake Martin Voice Realty
Archive for October, 2007
Elmore County Water System Extends Intakes Deeper in Lake Martin
The recent drought on Lake Martin has threatened to lower the water level below the intake valves of Elmore County. They are extending the intakes to deeper water. This video was made on 10–26–2007 at the County’s intake station, which is on the Little Kowaliga branch of Lake Martin. To get there you go to Elmore County road 80 and take Lakepoint Road to Wavecrest Drive. Click on the “play” symbol in the middle of the video below to watch.
To the link on the clip on Youtube, click here.
Related Posts:
Lake Martin Drought Hits The Weather Channel Video
Alex City Water System Extends Intakes Deeper in Lake Martin
The drought this year has threatened to lower the level of Lake Martin to below where the intake valves for the water works of the City of Alex City are located. The City has had to extend their intake valves to deeper water. This video was filmed 10–26–2007 on the Tallapoosa River just above River North Marina. Click on the “play” symbol in the middle of the video below to watch it.
Or you can click here to see the video on Youtube.
Alabama Power Wants Higher Winter Level On Lake Martin
Lake Martin HOBOs President Jesse Cunningham announces that Alabama Power is taking a major step by requesting to hold more water in the lake during the next few winters. Cunningham reports in an email, “I received word on Friday from Charles Stover with Alabama Power that they have just filed a request with FERC” to increase the winter water level to 483 from 480. Three extra feet spread over 44,000 acres means that we would need a heck of a lot less rain to get to full pool of 490.
This will please Lake Martin property owners that might have access to the lake at 483, but not the normal winter level of 480 msl. The higher winter water level will give more recreational opportunities to boaters, skiers, and anglers. The higher the water, the easier it is to launch a boat, and the easier to navigate and enjoy.
Alabama Power is applying to renew their permit to operate Martin Dam. Before they request any big change, they must submit reams of data to prove to FERC that any operational change will have minimum impact. Maybe this awful drought that we have been suffering will give Alabama Power more ammo to prove the obvious point – more water in Lake Martin is a good thing. I think they used to fear holding too much in case of a hurricane or flash flood. But these days, with them computers and what all, we can predict precipitation much more accurately, and we have plenty of time to open the gates in case of a flood.
Sure, this probably won’t help us this winter, but every winter thereafter will be great. Kudos to Alabama Power and every Lake Martin affinity group that helped push this idea. Let’s hope FERC approves it!
Related posts:
Alabama Power Seeks Input To Relicense Martin Dam
Drought & Alabama Power Lower Lake Martin Level
Nobel Winners In Economics Say Buy Now On Lake Martin
The winners of the 2007 Nobel Prize in Economics, are advising buyers to act now on Lake Martin.
OK, OK, maybe Leonid Hurwicz, Eric Maskin, and Roger Myerson haven’t come right out and literally said that, but a quick review of their work should tell you that they would advise it. Their work laid the foundation for mechanism design theory, which attempts to explain how sellers and buyers allocate resources in the real world.
Our old friend Adam Smith describes the theoretical world of free market capitalism, where buyers and sellers have perfect information. If a seller has 100 widgets, he sells exactly 100 for his lowest price and has no one asking for more. Exactly 100 buyers show up and buy them at their highest price, and no one walks away empty handed.
In the real world, however, information is not perfect. Sellers don’t know buyers’ top number. Buyers
don’t know how bad a seller needs the money. Let’s say a butcher has 20 people show up for his 15 steaks, and 5 people go home mad because of the shortage. The butcher should have raised his price to the point that he had 15 and only 15 buyers. Classic shortage strategy. Or, what if it’s the opposite? Say the butcher has so many unsold steaks that he may be forced to throw out meat. That’s called a surplus. So the butcher should lower his price and sell the steaks rather than trashing them. If steak loving buyers realized that he was dropping prices, they should get off their duffs and get down to the grocery. Simple, right? Easily applied to Lake Martin real estate, right?
FACT:
There is a surplus of Lake Martin waterfront property right now. At current buying rates, it will take 25 months to sell it all. That, my friends, is a surplus.
SURPLUS STRATEGY:
If you’re trying to sell your Lake Martin real estate, you should get realistic about prices. I am beginning to see this happen. There are very few sellers still out there that think that it’s still a booming sellers’ market. But have they learned the lesson enough to look in the mirror and lower prices on their own waterfront homes or lots? They all say “I know the market has cooled off, but…”
BuyersLake Martin buyers need to come to the table. All through 2006, the only thing I heard from reticent buyers was “call me when this crazy market slows down, I’ll buy then.” Well, I’m calling. It’s slow. Sellers are hurting. Are you going to wait until it takes off again to buy? Don’t say I didn’t warn you.
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Lake Martin Drought Hits The Weather Channel Video
The historically harsh drought that has hit Lake Martin in 2007 has been highlighted by The Weather Channel Network. They sent reporter Julie Martin (no relation) to shoot a video spot that aired last night. Click here for the video. If for some reason it doesn’t auto play after the commercial, look to the right and select the video titled “Drought and no water to drink.”
The Alex City Outlook also reported on the video.
Mostly, I think it’s a pretty good report. I would have liked her to point out that right now it is about 3 feet below the winter water plan, or, 3 feet lower than it normally would be. Not 13 lower. Still, maybe reports like this will help Alabama Power in its appeals to the Corps of Engineers to allow less downstream flow.
Incidentally – my Dad’s real estate office in downtown AC (aka the Northern Command) is visible at 0:32 in to the video, 2 doors to the left of Carlisle’s Clothing. Maybe now I can talk him into hanging a “www.LakeMartinVoice.com” sign on the front of his building – or maybe a Glamour Shot photo of the two of us … hmmmm …
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ElCo Tax Man Squeezes Lake Martin Property Owners
If you own Lake Martin waterfront property that is in Elmore County, chances are that your assessment (and therefore property taxes) went up this year. I have heard lots of anguish from taxpayers that were shocked by their increase this year. I don’t know that those in Elmore County are any worse than Tallapoosa or Coosa, but ElCo has been hit hard this year. Property tax rates have stayed the same, but when they raise your assessed value, your taxes go up anyway.
If you disagree with your assessment, there is an appeals process. You will need to call the Elmore County courthouse at 334–567–1428. They only allow you to appeal for a certain time, so if you disagree, hurry up. Be warned – I have heard of some taxpayers’ appraisals actually going UP after an appeal. I guess after scrutinizing, the tax man figured he needed to go up, not down.
Lake Martin property owners from outside the state of Alabama should note that our property tax fiscal year runs October 1 to September 30. So, the bill that you have to pay by December 31, 2007, is based on an appraisal at October 1, 2006. Therefore any appeal that you make would need to estimate the value at 10–1–2006.
The best way to get your appraisal lowered is to show them comparable sales that prove a lower
value. The best comparables are those that are most like your waterfront home or lot. On Lake Martin, most of the value is in the dirt, so look for comparables with similar views, water depths, and sizes as yours. Then try and find homes that are like yours. Generally, it is easier to first find similar lots, then adjust for the differences in the homes. For instance, if your neighbor sold on September 20, 2006, and his lot is almost exactly like yours, you would only need adjust for the differences in your homes. If he had four bedrooms and you only have three, then you would adjust down by the cost or value of an extra bedroom.
If you are trying to appeal your assessment, and need some comparable sales, or you are just wondering what your Lake Martin waterfront home or lot is worth, give me a call. I would be glad to help you out, no cost, no obligation, no cheesy sales pitch, no guilt. I promise. Just buy me a Slim Jim at Nail’s and we’ll call it even.
Lake Martin Marina Spotlight: Real Island Marina
Real Island Marina – one of Lake Martin’s older full service marinas – is located in Elmore County on the southwest side of the lake. It’s close to Lake Martin landmarks such as Kowaliga Marina, Kowaliga Bridge, Willow Point, Parker Creek, and Sand Island. The Real Island / Little Kowaliga area is popular on Lake Martin. Since it is relatively close to Montgomery and Birmingham, homes for sale in the Real Island area are typically sought after by lake goers from these cities.
Real Island Marina sits on Little Kowaliga Bay, at the edge of the old Little Kowaliga Creek. It used to be an independent marina, but several years ago it was purchased by Lake Martin major landowner and real estate developer Russell Lands. It is now part of the group of 4 marinas that Russell Lands owns on Lake Martin.
One unique thing about Real Island Marina is the RV Rental area. That’s right – you can trailer your RV to Lake Martin and rent a spot from Russell Lands at Real Island. The views are great, looking over Little Kowaliga. The RV park probably sits on a couple million dollars worth of dirt. It stays booked up with long term leases, but if you want a spot, no harm in asking by calling the number below.
Real Island offers gas service, some boat parts, convenience store type food, and dry boat storage. Most of 
the time they have dry storage available, but with the recent drought, they might be booked up. If you need storage over the fall and winter, call now.
Right now, the water level on Lake Martin is 478.1 feet. There is a boat ramp at Real Island Marina, and you may or may not able to launch from there. You definitely should call and ask them before you make the trip.
To contact Real Island Marina:
2700 Real Island Road Equality, AL 36026
Phone: 334-857-2741
