Archive for the 'Buying Tips' Category

Proof Of End Of Sellers’ Market On Lake Martin

lake martin property sellers What is the real estate market like on Lake Martin right now?  I own waterfront property, should I sell?  I want to buy Lake Martin waterfront property, but is it still a crazy market?

These are questions I hear constantly.  Both potential buyers and sellers of Lake Martin real estate want to know if changing conditions will benefit them.  To be sure, the water is way down, and so are the numbers of real estate transactions.  I will cover cause and effect in a later post.  But for now, let’s just focus on one question:

 

Is Lake Martin still a sellers’ market?

If you talk to 10 people, you get 10 different answers, ranging from Pollyanna agents who still think it’s a sellers’ market to Chicken Little bubble barkers who act like property owners are literally throwing money into Lake Martin each time the water drops an inch.  What’s the truth?  When I approach the question, I treat it like every other issue about Lake Martin real estate:

1.   Break it down by market segments.  What are you talking about, here?  Waterfront or non-waterfront?  Condos? Lots? Leased lot homes or deeded homes?  Homes above a million?  What?  (Below I will only talk about waterfront property.)

2.  Look at the numbers.  As I have said before, you have to be careful when interpreting statistics in our market.  It is relatively small in transaction number (when comparing to large cities like Atlanta).  But, to make a market opinion, you must look at market statistics, so I try to consider a year of data at a time.  The goal is to take emotion – and agenda – out of the equation.  Just the facts, ma’am.

3.  Apply Common Sense. Just as you don’t want to be ruled by emotion or anecdotal lake martin real estate Horse senseevidence, you also don’t want to let the misapplication of statistics throw you off course.  There is no magic statistic or rule of thumb to proclaim a market a buyers’ or sellers’ market.  You have to use your common sense to test the statistics versus your everyday observations.

 

MY TAKE ON THE DIFFERENT TYPES OF LAKE MARTIN WATERFRONT PROPERTY:

 

1.  LOTS – Right now on Lake Martin there are 113 waterfront lots for sale.  13 have sold in the past 12 months.  That means we have about 113 months of inventory, or it would take almost 10 years to sell at this pace.  On its face, that figure suggests an extreme buyer’s market.  I do think this is a buyer’s market, but, like condos, I think that if sellers were more realistic on price, most of these would get snapped up pretty quickly.  Everyone wants a lot.  But, I think many sellers have incorrectly priced assuming the market rose by 35% over 2006.  My call – Buyers’ Market.

2. CONDOS – There are 112 waterfront condos for sale and only 34 have sold in the past twelve months.  That’s 38 months’ worth of inventory – i.e. at this current buying rate, it would take over three years to sell all of the condos currently for sale.  That doesn’t count any that are under construction or might come on the market in the future.  The recent condo auction at Harbor Pointe taught us – there are buyers out there, but they are at lower prices.  This segment was by far the easiest to judge. My call – Buyers’ Market.

3. DEEDED LOT HOMES UNDER $1 Million –  In rural Alabama, it’s hard to call a $400,000 home a “starter home” with a straight face.  But that is about the price point of the lower end of the deeded lot single family home on Lake Martin right now.  In the deeded lot homes priced under $1 million, in the last 12 months, 120 have sold, or 10 a month.  249 are for sale now.  So we have about 25 months’ inventory.  But looking at this inventory, if a few sellers got realistic and dropped their prices, I think they would sell pretty well.  If homes in this segment are priced right, and are “good ones,” they sell in 45 days.  But because there are many that are overpriced and have been sitting on the market, I really can’t say that it is still a sellers’ market.  My call – Balanced.

lake martin homes ridge4. DEEDED LOT HOMES OVER $1 Million  – This segment is harder to compare with prior years, because the rate of increase on investment has meant that many homes are now worth $1 million whereas in prior years they would be at $750k.  To be fair, you really would need to compare homes over $1 mill today with homes over $750k in 2005.  Right now, there are 66 for sale.  17 have closed in the past year, or about 1.5 a month. So we have about 44 months, or almost 4 years’ worth of inventory.  Most of these are new construction spec houses being sold by builders.  They are getting aggressive – dropping prices and adding incentives.   My call – Buyers’ Market

5.  LEASED LOT HOMES – 15 have sold in the past year, and right now there are 15 for sale. So there are 12 months’ inventory.  I had one listed, we priced it aggressively, and it sold in 81 days, which is about the average time in a balanced market. Looking at the inventory, I think some are better values than others, so if they adjusted prices they might sell more rapidly.  My call – Balanced.

Are you considering buying Lake Martin waterfront property right now?  Why don’t you let me help you find what you need?  I can help you sort through the above 5 segments FOR FREE.  Sellers pay the real estate commission.  I can help you with any Lake Martin waterfront property, regardless of who has it listed.  An average real estate agent won’t help you much.  A good realtor will save you money and time.

Results Of Waterfront Condo Auction – Harbor Pointe – Lake Martin

Lake Martin waterfront condo buyers flock to the condo auction at Harbor Pointe in Stillwaters.

Roebuck Auctions held an auction at Harbor Pointe Marina in Stillwaters last Saturday, July 7, 2007.  The bidding started at 11:07 AM, selling 20 units in the Harbor Pointe Condo development.  Chris Boden, representative of Roebuck Auctions, stated he thought the auction went very well.  He estimated that there were about 500 people in attendance and about half were registered bidders.  Boden confirmed that all 20 condos were sold and are under contract to close in thirty days.

Boden went on to say that the boat slips were not auctioned that morning.  They were pulled from the auction due to a “legal snafu” that the sellers were currently working out.  He said that 24 slips are still available, and they would be offered for sale first to the auction high bidders, then to existing Harbor Pointe owners.  Boden also said that some boats were sold, but since he worked on the real estate side, he didn’t really know the details on how that all turned out.

Lake Martin Voice roving correspondent Kirk Wascom had this report:

“I went to the Harbor Pointe Auction at Harbor Pointe Marina this past Saturday.  There was obviously a lot of interest given there were 300 other folks in attendance as well. 


The first condo sold for $385,000 and the last one went for $235,000, not including the 10% fee to be added.  They auctioned the condos on a buyer’s choice.  The first condo sold allowed the buyer to choose his/her choice of the 20 available waterfront condos.  The first one sold and chosen by the buyer would have been the one I would have chosen.


Although I attended the auction more out of curiosity and genuine interest, I did take my checkbook and a letter of guarantee from bank.  During my registration they asked me for my letter of bank guarantee.  However, a buddy of mine who also attended the auction was not asked to present one.  We registered at different times.  I guess it’s like buying alcohol; sometimes you’re carded and other times you’re not. 


In my opinion, I think those who were the high bidders and who got their choice of a condo got a good deal at a fair value.  It was all a win-win position for both sides.  Due to the number of buyers at the auction there was no way anybody was going to get a condo for some low bid price of $75,000 – $100,000.”

 

Thanks Kirk, for that report, and for the inspiration for this series of posts.

Does anyone else out there have a subject they would like to see covered by the Lake Martin Voice?  Speak up!  And watch out, you may be drafted into action like Kirk…..

 

 

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More Info – Harbor Pointe Condo Auction – Lake Martin
Lake Martin Voice Auction Post Linked By The Wall Street Journal
6 Questions To Ask At A Lake Martin Auction

More Info – Harbor Pointe Condo Auction – Lake Martin

Harbor pointe auction brochure - smallDue to many of you asking, here is more information on the auction for the 20 waterfront condos at Harbor Pointe, Stillwaters Development, Lake Martin, Alabama.

The sellers of the Harbor Pointe condos will do the absolute auctions first. The high bidder on the first one will get a free boat slip. The high bidder will then select which and how many condos that he/she wants at that price. So if the high bidder selects only one, then they do another absolute auction for the remaining 4, and so on, until there are no more. Then the sellers will get together to decide if they want to do any more as absolute. But you know that at least there will be 5.

They not decided when exactly that they will auction the boatslips.

Please note the auction will start at 11:07 AM. You pay a 10% buyer’s fee. You will be required to put down 10% of the price that day as a deposit. You will not be able to have any sort of contingencies whatsoever on the purchase, so if you will want a home inspection, for example, you have to pay for it yourself and have them inspect during the preview / inspection days.

2 of the units are building A. 3 are in building D. The rest – 15 – are in building E. Only 3 of the units are 2 bedroom. All of the rest are 3 bedroom. 1 of the D units is 2 bedroom. The other 2 are in the E building.

Here is the info that I found at the official site of Roebuck Auctions:

Location:

Harbor Pointe Marina
397 Marina Point Road
Dadeville, AL 36853

Date:
Saturday, July 7th, 2007 at 11:07AM CST

Preview/Inspection Dates:
Saturday, June 30th, 2007
10:00 – 4:00 PM
Sunday, July 1st, 2007
12:00 – 4:00 PM

PROPERTY FEATURES:

20 Luxurious condominiums on Alabama’s popular Lake Martin
At least 5 condos will be sold Absolute
The first unit that sells also comes with a free boat slip!
Beautiful 2 and 3 bedroom units
Very high-end interior finishes including:

stainless steel appliances
tile
granite/marble counter tops
More!
Harbor Pointe consists of (5) four-story buildings with common elements:
pool
pool facilities
pavilion
sandy beach
New and existing condo owners will also have the opportunity to buy a boat slip
25 slips will be offered at auction
all boat slips are adjacent to the condos
Unit D203 is set-up as a model unit.
Check-in here at the open houses
Auction will be held at the Harbor Pointe Marina showroom adjacent to the condos

SELLING FROM:
Harbor Pointe Marina Showroom

Real Estate Terms:

The high bidders will be required to place a bid deposit equal of 10% of the amount bid. Deposits will be accepted in the form of cash, checks with bank letter of guarantee, or certified funds.

Buyer’s Premium:

A buyer’s premium of ten percent (10%) will be added to the high bids to determine the total prices to be paid.

Closing:

The entire purchase price must be paid by Cashier’s or Certified Check, or wired funds at closing. No purchase shall be contingent on financing or any other contingencies.The closing shall take place not later than thirty (30) days after the auction.

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Results From Harbor Pointe Condo Auction
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6 Questions To Ask At A Lake Martin Auction

Lake Martin Voice Post On Auction Linked By Wall St Journal

Lake Martin Voice – your blog for Lake Martin real estate and area information – was honored recently by the Wall Street Journal online. 

On June 30, 2007, the print edition of the WSJ published an article on page B1 entitled “Home Going Once, Going…” about real estate auctions.  On the online version, at the end of the article, my post “6 Questions To Ask At An Auction On Lake Martin” was linked under the heading “Blog Posts On This Topic.”  It was one of only two such blog posts mentioned.  

You can try and click here for the link to the article on WSJ.  It should be active for a couple of days so that non-subscribers can read it.  I printed a PDF copy but it doesn’t show the link, so I print screened it (below).

Lake martin voice link in wsj
As an un-apologetic lover of capitalism, I hold the Wall Street Journal in the highest esteem. 
 
Thanks to all of you loyal readers and linkers that helped get this and other Lake Martin Voice posts noticed.  I try to be helpful by covering topics that interest you – so let me know how I can do a better job!
 
To the Journal authors, thanks again, Jonathan and Ruth!

6 Questions To Ask At An Auction On Lake Martin

Lake Martin Auction property home25 waterfront condos are being auctioned at Harbor Pointe in Stillwaters on July 7th.  Five of those will be absolute.  This auction follows on the heels of one earlier this spring.  Is this a sign of the times on Lake Martin?  Does this signal an end to the seller’s market? Are auctions a way to get a good deal on Lake Martin property?

Like any real estate transaction, every auction is uniqueThe person that does the homework will either come out of it with a fair price or avoid paying too much.

What questions should buyers ask before attending an auction at Lake Martin?

1.  Is this an absolute auction?  Always clarify this, but usually an absolute auction means that they must sell on that day, regardless of price.  Even if someone bids $1 for a Lake Martin condo, they must sell.  If it is not absolute, then ask what the reserve price is.  I’m sure they won’t tell you that, but no harm in asking.
2.  How many / which parcels are absolute? The Harbor Pointe auction will have 5 out of 25 absolute.  But,  if you see an ad for a different auction that says “40 condos for sale, absolute auction” maybe only 2 will be absolute. You want to be clear as to which are absolute and you want to make sure that you’re under the tent when they’re selling the absolute ones.
3.  Have these properties been for sale before?  The auction company may or may not know the answer, or they may or may not be obliged to tell you.  Here’s where your Lake martin real estate property auctionresearch comes in the picture.  How well do you know the Lake Martin market?  Or Stillwaters? Or Harbor Pointe? If the lake properties have been for sale recently, the listing prices can give you an idea of the seller’s expectations.
4.  What do you have to do to be a qualified bidder?  Usually you can give them a check for like $5,000 or something or a letter from the bank, usually it is better to set this up ahead of time, the week before the auction.
5.  What are the fees to the buyer?  Usually the buyer pays a fee above and on top of the bid amount  – this could be 5% to 10% – to cover the cost of the auction and the auctioneer fees.  This is sometimes a big part of their pitch to sellers.  They say, why pay realtor fees of 6% when you can make the buyer pay 10%?  Sellers think they are saving money but it all comes down to what is net to them anyway, and buyers figure that in when they bid and reduce their top number by, say, 10%.  Whatever.
6.  Will you send me the rules of the auction ahead of time? I ask for those.  I read everything.  Every auction is a bit different.  Maybe I will spot something that I didn’t think to ask about originally.
Sometimes I have Lake Martin buyers ask me about things like this, where I am neither the listing agent nor involved in any way. If they are interested, I can call the auction company for the buyer and register them as a potential bidder.  The auction company usually pays an extremely small “referral fee” to realtors like me when they register a buyer that is a high bidder.  This doesn’t cost the buyer a penny more because the buyer’s fee will be the same whether I call them or the buyer calls them directly.  But if I do call, I can ask them all of the above questions and give my analysis.
Lake Martin home auctionIn the case of the Harbor Pointe auction, I would run a buyer a report of all of the sales in Harbor Pointe in the last 2 years, and give a bidder an idea of what the exact market price should be on a condo there.  This gives you a pretty precise point to bid up to without getting hurt too bad.  Again, it won’t cost a dime more, and could arm you with a lot of information for the auction.  If my registered buyer is not a high bidder, they don’t owe me a penny.
I will definitely be watching the auction at Harbor Pointe to see what happens. (Thanks, Kirk, for the idea for this post!)

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Mythbuster: Alabama Power Leased Lots – Lake Martin

Lake Martin Alabama power leased lotAlabama Power has leased waterfront lots on Lake Martin for decades.  Yet, so much rumor, speculation, and innuendo surrounds the topic it remains mysterious to many people, real estate agents included.

Allow me to try to bust the myth on this subject.

Why are there leased lots on Lake Martin?

Lake Martin dam alabama power real estateLake Martin was created in 1923 when the Southern Company (Alabama Power) built Martin Dam on the Tallapoosa River.  They bought up all of the eventual waterfront at the elevation of 490 feet above sea level.  Since old Mr. Ben Russell (founder of Russell Mills), already owned the damming rights to the Tallapoosa, the Power Company swapped him those rights for one half of the waterfront.  Pretty much every inch of the 700 miles of waterfront of Lake Martin at one time or another was owned by either Alabama Power or Old Mr. Ben.

When did Alabama Power begin to lease lots on Lake Martin?

Sometime around in the 1960s, Alabama Power allowed people to build homes on the waterfront, but they retained ownership of the land underneath the home.  The people own the sticks and bricks, the company owns the dirt.  The people paid a monthly lease to do so.  Over the years, depending on the opinions of officers at Alabama Power, the homeowners were given the chance to buy the dirt under their homes.  No rhyme or reason to it, some years they would decide to sell, other years they would institute leases.  That policy continues today.  Who knows, they may decide to start selling lots to leaseholders tomorrow.  They might not.

How does a lot lease work on Lake Martin?

These days, when Alabama Power leases a waterfront lot to homeowners, they have a written lease, just like you would for an apartment.  The lease specifies the monthly rate (currently around $400), the length of the lease (currently twenty years), and the yearly increase of the rate.  The key here is that every lot is different, so if you’re concerned, consult a lawyer.  Alabama Power assigns the lease amount when they offer new lots for lease.  They offer the lots in a bid system, meaning, the homeowners bid offers of cash to pay for the privilege of entering the lease.  If you are the top bidder, then you must pay the monthly lease rate on top of that.

What happens at the lease end?

Again, you must examine each lease to be sure of how it works.  But generally speaking, at the end of the lease, one of 4 things can happen:

1.  Alabama Power renews the lease
2.  Alabama Power sells you the lot
3.  Alabama Power buys the house from you
4.  You pick up the house and leave.

My family has been selling real estate in the Lake Martin area since 1953.  We have never heard of Alabama Power buying a house, or making someone move their house away.  Not that it is impossible, but it is, in my opinion, highly, highly, improbable.  Most of the time they either renew the lease or sell you the lot.  Once again, if in doubt, talk to a lawyer.

Can you sell a leased lot home?

One word answer – YES.  There are plenty of great leased lot homesLake Martin real estate for sale now (like this one) on Lake Martin and many that have sold in the past.  Generally speaking, you can get more house or view for your money on a leased lot house than you can on a deeded lot home, because of the existence of the lease. The transaction works just like a deeded lot sale, except you have the added step of transferring the lease to the new owner.  Alabama Power must approve this transfer, but usually it’s just a matter of paperwork.

Can you finance a leased lot home?

YES – easily.  I almost always recommend that Lake Martin buyers use lenders from around the lake.  Not because I am related to any many of them, but because lake financing is usually a bit different than your standard McHouse in McSuburbia.  Local lenders are especially handy when it comes to financing a leased lot home.  They are familiar with all of the documentation, so it’s a lot easier to work with them.

Do you own a leased lot home and have some advice to add?  Or maybe you have questions that I haven’t answered here.  If so, please comment on this post and I will do my best to answer anything else.

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Free Boats At The Ridge Boat Show & Spring Home Tour

lake martin the Ridge marina boat showFree boats Lake Martin!!

Russell Lands’ big event is the Russell Marine In-Water Boat Show and Spring Tour of Homes at The Ridge. It is scheduled for two weekends, April 28 & 29 and also May 5 & May 6.

For the past couple of years, Russell Lands has done a couple of the Tour of Homes deals per year at The Ridge. This year they are combining it with a Boat Show at the Ridge Marina, hence the lengthy title “Russell Marine In-Water Boat Show & Spring Tour of Homes.

Basically you can go out to the Ridge Marina and test drive some boats. I understand theylake martin the ridge tour of homes will have ski boats, Hurricanes, pontoon boats, etc. Then, you hop in the car and go on the Spring Tour of Homes at the Ridge. Each of the featured homes will have a nice new boat parked out front.

Here it is – the payoff – the “free boat – : “if you buy one of the nine feature(d) homes you will also receive a brand new boat from Russell Marine.

Considering that the nine featured homes are all priced at over $1 million, the “free boat is a nice gesture, but it’s not like it’s worth 10% of the home’s value or anything.

But, if you or any of your loved ones need a house and a boat, and would like to buy one (or all!) nine homes, and would like to receive one or nine “free boats, just give me a call, I would be glad to arrange it!

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Lake Martin Real Estate Spotlight: The Ridge

Lake Martin Real Estate Spotlight: The Ridge

Lake Martin The Ridge LogoRussell Lands has developed neighborhoods on Lake Martin for over thirty years, but its newest, The Ridge, is vastly different from any one it has done before.

If you would like to see waterfront homes and lots for sale right now in The Ridge area, CLICK HERE to go to my Ridge Neighborhood page. I have a report that shows every waterfront home and lot for sale – by all agents, all brokerages, on Lake Martin. It pulls from the Lake Martin MLS so it will be current no matter when you visit the page.

Russell Lands has gated communities like Willow Point, and the Ridge is near to its other developments of Windermere, Windermere West, and Windover.  But The Ridge is a totally new animal.  Here are 5 Things That Make The Ridge Different:

1.  Heavy emphasis on selling through approved builders – Russell Lands started this Lake Martin trend a few years ago with Phase I of The Ridge, and continues it with Phase III.  They sell a certain number of lots to “approved” builders, who build spec houses and then turn around and sell them for the builders.  In prior developments, they sold almost 100% to the end homeowner.  The use of approved builders gives them much greater control over the quality of the homes.  They also get a lot of design consistency on the look of the homes by also having “approved” architects.  I think this also drives up the price so that their initial offering lot price to homeowners is pretty high.  As far as I can figure there is no real “pre-construction” pricing.

2.  The Ridge Marina – Russell Lands owns plenty of marinas around Lake Martin, but The Ridge Marina is the only one that is inside the gates of one of their developments.  It is a safe bet to say that The Ridge Marina is one of the largest marinas Ridge marina stack storage - smallon the lake.  The marina is close to Chimney Rock by water.  They sell gas, they have a huge line of boats that they sell, and also sell boating and skiing accessories.  Another big part of their business is boat storage.  You can rent a wet slip (a parking spot at a dock), but they are more expensive and rare than dry storage.  Dry storage is where they stack your boat on a huge rack inside their warehouse.  When you are ready to go, they come pick it off the rack with a forklift and put it in the water.  No matter how many times I see that it still makes me nervous.  They are adding on to the dry storage.  A company official was quoted as saying the The Ridge Marina will have the “biggest dry storage east of the Mississippi.”  That’s big, friends.

Lake Martin The Ridge Club3. The Ridge Club – Russell Lands is currently building a 9,000 square foot clubhouse called The Ridge Club.  While Willow Point has its Golf and Country Club, Willow Point residents are not necessarily members of the club, and vice versa.  In the Ridge, however, part of the homeowner association dues pays for membership to The Ridge Club.  Planned amenities include swimming pools, tennis courts, athletic fields, children’s play center, workout / cardio center, and a bar and grill.  From what I hear they have commercial lots set aside for possible restaurants, etc.  See the construction progress photos on the left.  It looks like it will be as nice as promised.

4.  Off water activities- Usually, in Lake Martin new construction developments, merely token emphasis is placed on off-water lots and properties.  At The Ridge, Russell Lands attempts to offer something to do off of the water, and (I assume) by association, raise Ridge club drawing - smallthe value of off-water residential lots.  They have designed sidewalks all through the Ridge, which is very different for the lake.  They also have cut in extensive walking trails through the woods around The Ridge.  I hear that the ultimate plan is to be able to walk, run, or bike on trails from The Ridge to Willow Point.  Look at a Lake Martin map to appreciate how huge of an area that is.  They also have plans for a town center located on highway 63, close to Windermere Road, that will have kitschy shops, a high end grocery store, and a gourmet restaurant.  (I will post more news as they confirm the details.)

5.  Marketing and Events – Russell Lands has promoted The Ridge like no other Lake Martin development.  If you haven’t received at least 3 mailers on it, you should have your feelings hurt, because they sent them to everyone in the area that pays taxes and has a pulse.  They also have been all over the home design type magazines.  Their homes have had multiple spotlights in Southern Living Magazine, and had tons of other regional media attention and write ups.  They also have really played up the Spring and Summer Tour of Homes.  This spring they have even tied the events in with a boat show at The Ridge Marina.  I have to hand it to them, it works. In the past ten years Lake Martin has gone from a regional treasure to getting attention on a national level.  This was due in large part to Russell Lands’ tirele$$ promotions.

If you wonder how long this will last, check the map.  They are selling Phase III now, with (I guess) a couple more phases left up the sleeve for The Ridge.  Then it’s on to the next big thing.  Does anyone have a guess on where the next one will be?  Comment below!

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Why I Give Away The Milk For Free

Lake Martin real estate changesThe Lake Martin Real estate market, like every other one in the country, has changed irreversibly. 

When my father Walter started in the business in 1973, the process was pretty much the same as when my grandfather Temple founded Coley Real Estate in 1953.  If you were a seller in the Lake Martin Area, and wanted to know what your home or lot was worth, you had to call an agent.  In 1953, in what is now the Lake Martin Area, there were two agents.  In 1973 I think there were three.  The process was – you called an agent, made an appointment, and physically came into the office.  Then you two would discuss your home.  He would tell you what home sales trends were.  There was no Lake Martin Multiple Listings Service.  No Lake Martin Homes Magazine.  Certainly no Internet.  You were totally dependent on the keepers of the information, the real estate agent.

Now, obviously, it is all different.  A Realtor’s office is no longer a thickly lake martin real estate agents guardwalled, heavily guarded fortress of information.  The web has enabled (almost) perfect information about sales prices and trends.  The MLS (Multiple Listings Service) web site is open to the public and easy to search.

So why do you still need a realtor now?  Especially if you’re a seller – you don’t need an agent if Lake Martin is still such a seller’s market, right? 

Wrong- the value of a great agent lies not so much in the mere possession of the data (MLS #s), but in how you interpret it, and what you do with it.   

It’s kind of like stock quotes.  Closing sale prices of stocks and mutual funds are free and public information.  When you pay a financial counselor to help you with your retirement savings, you are paying them to give you advice on how to interpret the data.  The value isn’t the knowledge of what XYZ Company’s stock closed for on a given day.  The value lies in knowing when and for how much to sell or buy and why.  Could you imagine picking a financial counselor based solely on the fact that he has access to stock quotes?  No, because a small mistake in interpretation can cost you lots of money.

The value of a great realtor lies not so much in telling you what the lake home on 123 Easy Street sold for, but how that relates to your lake home, or the waterfront lot / home that you want to buy.  Next, a great realtor executes a marketing plan to go out and sell your property instead of merely sticking a sign in the yard.

So, when looking for a realtor to help you value your Lake Martin property, don’t pick one that guards information like the sacred scrolls.  Pick one that is focused on you, that asks you questions about your want and your needs.  The more questions a realtor asks you, the better chance that he can get a feel of how to best serve you.

I work extremely hard to help people get what they want, but I don’t work for free.  I give away my advice and information on Lake Martin real estate because I want my clients to be a part of the sales process, not feel like I am posing as the wizard behind the curtain.  After I give them the information for free, then I can focus on marketing their home uniquely or finding them the home that matches their exact tastes. 

Lake Martin Named Top Real Estate Market In AL

Lake martin real estate winnerHere we go again – Lake Martin was described as the top real estate market in the entire state of Alabama

The Central Alabama Business Journal – a sister publication of the Montgomery Advertiser recently interviewed J. Danny Cooper, the Executive Vice President of the Alabama Association of Realtors.  The article covered various topics from the condition of Alabama’s real estate market overall to the performance of specific areas.  Cooper singled out Lake Martin as the top market in the state.  In his words, “Lake Martin has surpassed any other market in the state in terms of appreciation and home value.”

I know what you’re thinking – this is just another propaganda puff piece from aLake Martin Cupcake rah-rah realtors’ rep.  I might be inclined to agree, on some points.  Anybody can have an opinion on what is a “good” or “bad” market.  What sets apart Cooper’s statement? It’s a fact, not an opinion.  The numbers have been crunched – and Lake Martin came out on top.

Not that the rest of Alabama is so much chopped liver.  This state is blessed with many great second home or vacation home markets – Orange Beach, Gulf Shores, Lake Eufaula, Lake Guntersville, Weiss Lake, Lake Logan – Martin, just to name a few.  Maybe you and I think none of them are better than Lake Martin.  Maybe someone else thinks that another lake or beach is prettier, or cooler, or whatever.  Everybody’s entitled to an opinion.  But here’s a fact – recently, none of them have appreciated in value like Lake Martin.

Even if you own a home or lot on Lake Martin and never intend to sell it, isn’t it nice to know – that if you did – it is in the top market in the state?  Wonder what it’s worth?  Drop me a line, I’ll run you a Comparable Market Analysis, no strings attached. 

And if you don’t own any property on Lake Martin yet?  I can help you with that, too.

 

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