Lake Martin Voice Realty
Archive for the 'Lake Martin' Category
Worship at Lake Martin’s Church of the Living Waters at Stillwaters
The Church of the Living Waters at Stillwaters is one of two outdoor, non-denominational, lakeside churches on Lake Martin. It’s convenient to those of you who live or vacation on the east side of Lake Martin, and it’s a casual (shorts and t-shirts) worship environment right on the shores of Lake Martin. You can drive your boat to the Sunday morning service – now that’s unique experience - or you can arrive by car, golf cart, or bike.
Guest preachers and musicians rotate through the pulpit from Easter Sunday through Labor Day. All services (except the sunrise Easter service) begin at 9:00 am. They also do weddings.
The Church of the Living Waters has a great website, so to get more information and directions, go to http://www.colw-sw.com/.
Church in the Pines is the other outdoor worship facility, and it’s located on the west side of Lake Martin right off of Highway 63, by Kowaliga Bridge and Sinclair’s restaurant.
Lake Martin Waterfront Lot Sales: 2010 Year In Review
2010 proved to be a pivotal one for waterfront home sales on Lake Martin. But what about waterfront lot sales? Would they follow the pattern set by homes? That is, would our real estate market see an increase in number of lots sold, then finally a halt to the drops in prices?
Well, first we have to see an increase in the number of waterfront lots sold on Lake Martin in a year. Prior years have seen that number slide. So what happened in 2010?
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2010 was a great year on Lake Martin for waterfront lot sales. Lot sellers saw that the number of lots sold jumped from a bottom of 18 in 2008 and 19 in 2009 to a healthy 27 in 2010.
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Market Shift in Waterfront Lots
I think that this increase signals a market shift for Lake Martin waterfront lots. Tracking the number of lots sold should tell us that changes in prices are not far behind. We have studied this theory, and now seen it in practice with waterfront homes on Lake Martin.
While waterfront home sales bounced back in 2009, it took until 2010 until prices quit falling, as we saw in this market report.
Similarly, I think that 2011 lot sales will display that same trend. I think that if – that’s if - we see continued strong lot sales, prices will stop declining in 2011. Therefore my best guess is that it will be 2012 before we have any real chance of seeing lot prices of up. Obviously, 2011 sales will dictate that.
At the end of December, 2010, the Lake Martin MLS showed that 162 waterfront lots had the status of “Active” – aka are for sale. That means that at the sales rate of 27 per year of 2010, it would take 6 years to sell all of the lots. That’s 72 months of inventory. Tons. That’s my one reservation for predicting too quick a stop of slide on prices. The “months of inventory” number needs to be drastically reduced before the market will exert any upward pressure, in my opinion.
Waterfront Lots Sold: Price Distribution
It’s always interesting to see how the prices of lots sold on Lake Martin look.
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A Word On Price Per Waterfront Foot
In my opinion, the single BIGGEST screw up that Lake Martin buyers, flippers, appraisers, real estate agents, and bankers made in the “boom times” was estimating a lot’s worth at price per waterfront foot. Maybe it didn’t hurt the average lot buyer too bad but I can think of 3 or 4 specific incidents where people bought, say, 1,000 feet of Lake Martin shoreline and applied some vague price per square foot to it, and assumed they made money when they bought it.
Wrong.
Many of those parcels of land are in foreclosure now, but they are in the form of failed subdivisions. This method IS WAY TOO INACCURATE to be used. To wit:
In 2010 the least expensive waterfront lot was sold for $30,000 – a 100 foot lot north of the 280 River Bridge. Yes, $300 / waterfront foot.
One of 2010′s most expensive lots sold was one in the Russell Lands development of Trillium. The Lake Martin MLS stated it had about 427 waterfront feet and sold at $900,000 – or about $2,100 per waterfront foot.
$300 to $2,100 – that’s a pretty wide spread. Don’t be tempted to dumb things down and use averages. Avoid that method all together and use the comparable sales method like we do for homes.
Do you own a waterfront lot on Lake Martin and are wondering how this news affects you? Or maybe you are looking for one. We can help. Please contact us here or at 334 221 5862.
Related Posts:
Lake Martin Real Estate Sales 2010
Lake Martin Real Estate Sales 2009 – Waterfront Lots
Lake Martin Real Estate Sales 2009 – Year In Review
Lake Martin Real Estate Sales 2008 – Year In Review
Lake Martin Real Estate Sales 2007 – Year In Review
All Lake Martin Market Reports
(*)Disclaimers: All of the above info was taken from the Lake Martin Area Association of Realtors Multiple Listing Service. Accuracy is not guaranteed but deemed reliable. The above does not include sales by FSBOs or developers that sell privately and not through the MLS. But, I do think that the above represents a very large majority of all waterfront sales on Lake Martin, Alabama.
Lake Martin Concrete Sea Wall Construction Part 3
To get this footage for Part 3 of the seawall construction project at Water’s Edge on Lake Martin, I braved some pretty harsh weather. Let’s just say it has been cold this week at the lake. I know my job looks glamorous – lapel mic and all – but I do, at times, suffer for my art. If I help just one lake lover learn more about concrete seawall construction, though, it’s worth it.
The seawall around the huge peninsula at Water’s Edge is almost complete. Since Alabama Power lowers the water level of Lake Martin by about 10 feet every winter, it provides a great opportunity to build and repair docks and seawalls. Henderson & Coker construction of Alex City started from scratch on this one, and now this property is safe from the natural erosion that happens at the lake’s shoreline.
For more sea wall construction: Concrete Sea Wall Construction Part 1 and Concrete Sea Wall Construction Part 2.
I end this video standing beside the waterfront home for sale at Lot 2 of Water’s Edge. If you have not had a chance to see these homes, you really need to. Lot 1 and Lot 2, Water’s Edge are for sale now. We are finishing up the dock plans and work, but other than that, they are good to go. Water’s Edge gives you a unique opportunity to buy a Lake Martin waterfront home that is technically a foreclosure, but, in reality, is a brand spanking new home. These homes were designed by the award-winning Jones Pierce Architects of Atlanta.
So many times when looking at Lake Martin foreclosed homes, I see the typical wear, tear, and sometimes downright abuse that can happen with foreclosures. At Water’s Edge, when the bank foreclosed on these lots, there were only concrete slabs. So the bank finished them from the ground up, and they did it with the help of experts in vacation home design and construction. Wade Wilmeth is the contractor who executed Bryan Jones’ design. Anybody familiar with Wade’s extensive work around Lake Martin and sterling reputation will know the quality of the homes without even walking into them.
Where else will you get this big water view, this close to the water, on this side of the lake, with brand new, well designed construction, and at least 3 bedrooms – for this price??
I get asked all the time, “Are there still deals on Lake Martin?” I’m telling you now, these are not deals – they are steals.
Contact me here, or give me a call at 334 221 5862 to come by and see them. It is well worth the trip.
Related Videos:
Water’s Edge on Lake Martin, Lot 1
Water’s Edge on Lake Martin, Lot 2
2010 Lake Martin Home Prices Suggest Bottom Has Passed
Big News For Lake Martin Real Estate
Lake Martin waterfront home prices did not drop 2010, suggesting “the bottom” arrived sometime in 2009 or 2010.
About this time every year, I take an in depth look at waterfront home sales on Lake Martin as reported by the Lake Martin Area Association of Realtors’ MLS(*) (of which I am a member). Prior years’ market reports have shown us that, in terms of number of waterfront homes sold, 2008 was the low point. 2009 showed an over 40% increase in homes sold at 194, and 2010 topped that amount at 195.
The final piece of the recovery was to figure out when prices would finally quit dropping. I think the below chart gives evidence that we are there.
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Once again, we see that the bell curve of prices remains the same in 2010 – essentially even with 2009 and 2005.
“Big deal” – you might say. Stagnant home prices? What’s to brag about? Plenty…..
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The First Step In Getting Out Of A Hole: Stop Digging
Anyone who follows Lake Martin real estate (or any market for that matter) and is who is watching for a change in the market focuses on two trends: number of waterfront homes sold and price of waterfront homes sold.
1. Number of Homes Sold Bottomed in 2008 – check this one off of the list. 2009 showed us by tallying over 40% more sales that 2008 was the bottom. Similarly strong sales in 2010 showed us that 2009 was no fluke.
2. Price of homes sold bottomed in 2009 – 2010 – I think we can check this one off, too. True, 2011 could see a drop in prices, but I doubt it. Why? Because of number #1 above. The number of homes sold is the leading indicator of average prices. We have been over and over Nicolai Kolding’s research that proves this. We have a lot of momentum with the number of waterfront home sales – too much momentum, in my opinion, to turn prices back down. At any rate, even if prices do drop in a double dip maneuver, we will have plenty of warning from the number of homes sold.
Why This Is Big News
To Buyers:
Quit waiting for the bottom. It is here. Make your move now before prices start going up again.
I can’t tell you how many times over the past 2 years I have helped someone find something they like, only to have their lake home plans be put on hold by the phrase “I think it’s going to get worse. I will wait.” Understandably, some buyers have hesitated based on fears that the Lake Martin real estate market will suffer more price cuts, and to these buyers, it was worth the wait.
No more. The day I have been predicting since 2009 is here. It’s hard to refute the numbers.
Are some Lake Martin waterfront homes, lots, or condos still overpriced? Absolutely. But that will be the case in any market, at any time. But the key here is that it should remove the fear that another market wide adjustment is looming. It also reassures us that as long as we keep focused on year to year monthly sales, we will have plenty of warning to market shifts.
To Sellers: The End Is Near
You can’t raise prices just yet, but it should be reassuring that at least the slide is over.
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See also:
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This is the first post in a series that will cover the 2010 Lake Martin Real estate market reports and statistics. I will do my best to present the data clearly.
Please stay tuned to my real estate blog to keep up with my future posts on the 2010 year end review.
As always – I welcome your comments below or on my Facebook page, or my Twitter feed, or my Youtube channel. While numbers are hard to dispute, everyone has their own opinion about what they mean. I know that I constantly learn a lot from everyone out there when we talk privately.
Please help me and the rest of the readers out, and comment publicly!
Related Posts:
Lake Martin Real Estate Sales – November 2010
Lake Martin Real Estate Sales 2009 – Waterfront Lots
Lake Martin Real Estate Sales 2009 – Year In Review
Lake Martin Real Estate Sales 2008 – Year In Review
Lake Martin Real Estate Sales 2007 – Year In Review
All Lake Martin Market Reports
(*)Disclaimers: All of the above info was taken from the Lake Martin Area Association of Realtors Multiple Listing Service. Accuracy is not guaranteed but deemed reliable. The above does not include sales by FSBOs or developers that sell privately and not through the MLS. But, I do think that the above represents a very large majority of all waterfront sales on Lake Martin, Alabama.
Cherish The Cabin
According to this article in the Wall Street Journal, there is a “golden window” in the US Tax Code that allows taxpayers to gift more this year without being taxed. Quoting directly:
“For the next two years, the gift-tax exemption jumps to $5 million from $1 million for individuals and to $10 million from $2 million for couples—meaning people can give away that much without paying a penny in taxes.
What’s more, the tax rate on gifts above those amounts fell to 35% from a scheduled 55% ”
Normally I don’t consider tax code law to be interesting fare for a blog focused on Lake Martin real estate. Today I certainly don’t want to imply that anyone should make a decision to buy or sell a lake house based primarily on tax reasons. Secondarily, maybe.
What really interested me about this article was that it went on to say that many people are using this opportunity to reduce their estates, and perhaps successfully pass on assets to their heirs so they won’t get hit so hard with estate taxes or higher gift tax rates in the future. Furthermore, authors go on to say that:
“Some also may want to put “sacred family assets”—a beloved vacation home or pieces of furniture, art or jewelry—into trusts to preserve them for future generations.”
Did you just see that? Sacred family assets. The first thing they mention is a vacation home.
But isn’t that part of the appeal to owning one? Maybe the end pursuit isn’t necessarily sacred family assets, but sacred family memories, traditions, and time spent together. Lake Martin is a great place for all of those.
Coincidentally, I was talking Saturday with a guy whom I helped find his own sacred family asset. He admitted although he bought in “the peak” of the market in 2007, he wouldn’t trade one weekend, not even one second, of the time he and his family have spent there. Even now, in the dead of winter, his family couldn’t wait to get back to their Lake Martin home. There is too much fun they could be having.
Can we help you find your sacred family asset?
Or maybe it’s time to let go of it, and you need someone who realizes what this means to your family. We understand the need to make sure that the next family enjoys it as much as you have.
We can help. Call or contact us here.
The Highlands at StillWaters Golf Club on Lake Martin
The Highlands Golf Club in StillWaters is one of the only public golf courses in the Lake Martin area. If you can stomach Lake Martin Voice agent John Christenberry’s wild golf cart racing, then this video tour will give you an idea of what The Highlands course is all about.
The StillWaters course manager was super helpful when we showed up (he gave us the cart), and wants everyone to know that this is a public golf course, and that anyone on Lake Martin can have a monthly membership to play here. There are golf condos that you can rent, and specials running all the time.
Click here for a copy of The Highlands score card.
For more information, here’s the website: The Highlands at StillWaters Golf Club. If you have any questions about golf, please contact them directly. We’re just Realtors.
But, if you’re interested in waterfront property in StillWaters, we can definitely help you with that. There are many homes and condos for sale within StillWaters right now that we think are good deals.
At Lake Martin Voice Realty, we can help you buy or sell any property in the Lake Martin MLS. Give us a call, and put us to work.
Related Posts:
Tour of StillWaters Neighborhood on Lake Martin
Tour of Harbor Pointe Condos in StillWaters
Tour of Villas on the Harbor in StillWaters
Deer Take Refuge in StillWaters
Tour of The Stillwaters Neighborhood on Lake Martin
Fellow Lake Martin Voice Realty agent, John Christenberry, and I shot this video tour of Stillwaters on our way to scout a potential listing in that neighborhood.
Stillwaters is a huge development (2,000 acres or so) on the east side of Lake Martin. The first phases were built in the 1970s. Inside the guard gates you’ll find the public golf course, waterfront homes and condos, off-the-water homes and condos, Harbor Pointe Marina, plus neighborhood amenities like tennis courts, a pool, and playground. Stillwaters has a Dadeville street address, and by water has a pretty central Lake Martin location.
Since it’s January, it’s a little cloudy, but for our readers in colder country it should be refreshing to see what “winter” typically looks like in central Alabama. We try not to wear a coat if we don’t have to.
Stillwaters is a landmark in the Blue Creek area. Since Stillwaters is on the east side of Lake Martin, this means that it is close to Auburn, Opelika, and lots of lake lovers from Georgia.
As one of the older neighborhoods on Lake Martin, Stillwaters has many different phases and little sub neighborhoods. Some of the condominium complexes are Harbor Pointe, Villas on the Harbor, Sunset Point, and Stoneview Summit. All of these are located within Stillwaters, and have their own Home Owner Associations.
If you would like to contact the Stillwaters Residential Association directly, see their website here: Stillwaters RA.
If you’d like to see a home or condo for sale in Stillwaters, or any property in the Lake Martin MLS, please call us. We’d be honored to go to work for you!
Buyers From Bogota
Lake Martin truly has international appeal.
I just got off the phone today with a potential buyer in Bogota, Columbia. If I knew how to put the accent on the last a in Bogota, I would. Please forgive my lack of WordPress skills.
I continue to be amazed at the reach of Lake Martin, and the ability of buyers to research from afar. These particular folks are contemplating retiring in the next couple of years, so they are doing their homework now. They have been using my Lake Martin home search tool and also perusing my Best Buy Lists.
They stressed that they are just in the “thinking and dreaming” stage, but that is OK with me. It is not uncommon for buyers to look and research with me for a year before deciding to make an offer on a waterfront home or condo. We chatted a bit, I offered to talk to them anytime, even via Skype, to help them along.
Once I think about it, they are no different that other Lake Martin buyers, or real estate buyers in general. Do you realize that:
90% of home buyers research on the internet BEFORE THEY EVER CALL AN AGENT
Lake Martin Sellers:
You CANNOT miss out on 90% of buyers. You need an agent that dominates internet marketing, not only for Lake Martin, but for YOUR NEIGHBORHOOD, YOUR SLOUGH, YOUR AREA. I can’t stress this enough. This is how your home gets found. Period. Call us or contact us here and we will tell you exactly how it will work for you.
Lake Martin Buyers:
Firstly, THANKS for your reading, interacting, and talking to us about your needs. You have made this site far and away the #1 most popular resource on the web for Lake Martin real estate info. We are only 2 agents, but we have a big marketing presence thanks to you. You have kept us focused on giving you content, Lake Martin info, and the best advice we can muster. You remind us to focus on that instead of tooting our own horn about our own sales “records,” our team, our self appointed accolades, or whatever else. Call us or contact us to help you.
We promise to keep the conversation about you and Lake Martin.
Nothing else matters.
Tour of Trillium on Lake Martin
Trillium on Lake Martin is a Russell Lands development on the west side of the lake. The first homes in Trillium were built around 1989, making it a well established community of high-end homes on large, wooded lots.
Trillium is always a popular spot for lakeside sight-seeing. If you’re new to the lake, or if you like to look at homes while you boat ride, Trillium’s a great development to ride by. Another reason Trillium is popular on the boat tour scene is that it’s on a popular stretch of Lake Martin: the area between Kowaliga Marina and Real Island Marina. This is a major thoroughfare on the southwest part of the lake (also known as Little Kowaliga).
Click here to see a lot that’s currently for sale in Trillium.
At Lake Martin Voice Realty, we can help you with any property for sale in the Lake Martin MLS, including homes and lots in Trillium. Give us a call and put us to work.
Related Post:
Little Kowaliga area on Lake Martin
Live With Black Bears At Lake Martin
“Black Bear Spotted In Dadeville” – when I read this headline in the Dadeville Record a couple of months ago, I literally did a double take.
What? Bears in the Lake Martin area?
I grew up here. I work here. I hunt, fish, boat, hike, and generally enjoy the outdoors here. While I am no Marlin Perkins, I at least have a pretty decent knowledge of our local flora and fauna. But bears? This is a first.
Apparently we have at least one black bear roaming the countryside around the Point Cloxson area of Lake Martin. This is on the north east section, generally near homes with Jacksons Gap or Dadeville in their addresses.
I am excited. I have seen wild bears before: grizzlies in Yellowstone National Park and plenty of black bears while trout fishing in the Smokies. But those were at safe distances and I was on the alert.
 Black bears aren’t supposed to be around here |
I want a picture.
The Outlook article quoted multiple sightings from plenty of credible people. But no picture. I would love one. I will be on the lookout myself, and would love to scoop Kenneth Boone on this story. Kenneth, known locally as “Mr. Perfect” for his dapper and occasion appropriate attire is our region’s newspaper magnate and a legitimately talented photographer.
Imagine his professional chagrin if, a lowly realtor like me that uses all auto settings on my camera, am able to get a picture of the bear first. Granted, I am relying totally on luck. The bear will literally have to walk out in the road in front of me and stay there for at least 30 seconds while I fumble for my iPhone.
I have one advantage – I have a waterfront home for sale near the bear’s lair. 173 Wood Duck Loop is right off of Point Cloxson Road, not 2,000 feet from the sightings. This may be the only time I ever get to use this tease:
Would you like to own a Lake Martin home near a known black bear habitat?
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173 Wood Duck Loop is a nice one. It’s a 2 bed 1 bath home that is fixed up to the nines. The seller has completely renovated it. Completely new wiring, installed beautiful granite in the kitchen, put in stainless appliances, vaulted the ceilings, even put in a Rennai tankless water heater. All this for well under $300k.
Click here for more info on 173 Wood Duck Loop and watch the full motion video tour.
By the way, would you like an easy way to keep up with Lake Martin area news? Lake Martin Buzz is the way to do it. It combines news headlines from companies like the Alex City Outlook with tweets and status updates from local people and small businesses. It combines them all and tweets them here or posts them all on one website here.
