Archive for the 'Buying Tips' Category

3,000 Minutes in 30 Days

My Lake Martin Voice Realty YouTube Channel lets me track how much time viewers spend watching the Lake Martin videos I’ve posted to YouTube.  In a recent 30 day period  (Jan 7 – Feb 5, 2013), YouTube Analytics recorded an estimated 2,877 minutes of viewing time, with the most watched video being a recent listing, 100 Harbor Place Unit 613 at Lake Martin.  This, at a time of year that is not considered the most active real estate season on Lake Martin.  That’s pretty strong.

YouTube, however,  is not the only site that hosts my real estate videos;  I use my Lake Martin Voice Wellcomemat Channel to embed video tours of my listings on the Lake Martin MLS.  The YouTube number above does not take any of these views into account.  60% of the visitors to my website come strictly to search the MLS, and never see my YouTube channel.

So John into technology.  This is not new information.  Why is this important?

Buyers are into technology.

As a seller, it means that you are getting tons of exposure.  It means that buyers who come to see your property  in person have already toured it extensively via my video tour, and they are serious. They’ve seen the neighbors, the view, the slope of the lot, the back of the slough, that funky bathroom, and they’re still interested.

Compare that to the amount of time racked up viewing the 2″ x 1″ photo of the front of your lake home in print media.  Some sellers may wonder why I don’t advertise in these.  Bottom line: I’ve never closed a sale that originated with a call from a print source.  No, not even one, and realtors pay a lot of money for these ads.  In fact, one of my company’s listing was incorrectly priced $100,000 lower than list price in a print publication, and over the course of the month that the ad was in the magazine, NO ONE called to inquire about this great house at a huge discount. In my experience, hot leads are not reading print media.  They are searching online.

For buyers – video helps you quickly verify what you’re getting.  A real estate video tour makes it possible to understand the flow of a home and layout of the lot.  It makes it hard to hide the skeletons in the closet, too.  Most Lake Martin buyers are making a trip from out of town to view homes, and realistically can’t commit days to a search.  What a letdown to find that the cute cabin in the picture only has 10 feet of waterfront, or a guest bedroom that can only be accessed through the master suite.  Clear that up ahead of time with a video tour, and serious buyers can zero in on properties that truly meet their needs.

Also for buyers – I offer private video tours of other realtor’s listings.  If you see another realtor’s listing on the MLS, and you want more info than what is available on the MLS, I make a private video tour for you. I send you a private link to view it on YouTube, and you can quickly decide to check it out in person or pass.

Think the power of real estate video might give you an edge with your home sale?  Give me a call at (334) 221-5862 or CLICK HERE to contact me.  I’d love to talk, and I’d love to go to work for you.

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Lake Martin Real Estate Sales – 2012 Year End Review

Lake Martin waterfront home sales had the second best year on record in 2012. According to the Lake Martin, Alabama, area MLS, 239 waterfront homes were sold, compared to 207 in 2011.

This represented a 15.4% gain over the prior year!

The Lake Martin Area MLS* gathers data from all its members, so this number includes every agent, every brokerage at Lake Martin. The previous best year for vacation home sales on Lake Martin was 2005, when 285 homes were sold. 2012’s total of 239 beats out the previous second place winner of 2006, when 235 were sold.

Here at Lake Martin Voice we had a really good idea that the Lake Martin real estate market would have such a sales report for 2012. In this post I wrote concerning waterfront home sales in November 2012, we knew that we were setting up for a very good situation, we just didn’t know how good until the December results were posted.

I also noticed that a few sales were added to prior months. If you go look at the November 2012 market report, that I wrote on December 10, 2012, you will see that 26 homes were reported as sold in September 2012. Since then, that number changed to 27. That is because our MLS* is only reporting the information that each Lake Martin realtor or broker inputs. Why did it change? Who knows. Maybe someone realized they had the sale date wrong, and corrected it. This happens fairly frequently. I think we can assume that, as we look over the course of eight years, that an equal amount of mistakes happen each year.  At any rate, this is the best data we have.


The Lake Martin real estate market also received some favorable attention from the ACRE news flashes. ACRE  is the Alabama Center for Real Estate, and it compiles statistics for the entire state. They recently posted this article about the Lake Martin area’s gain of 10.7% homes sold versus 2011. Please keep in mind that ACRE pulls numbers straight from the Lake Martin Area MLS, which includes off water homes in Alexander City, Dadeville, et al. The numbers I quote above of 239 home sales for 2012 and a 15% gain are taken from that same database, but filtered to give Lake Martin’s waterfront home sales only.

2012 A Winner Over Prior Year

When it is all said and done, the most any real estate market can ask is to have beaten the prior year in numbers of homes sold. This goes for Lake Martin or any market at any time. I have said many times over my years of doing these Lake Martin real estate market reports that I really focus on this statistic, especially at the month to month level.  I first read about this metric from Nicolai Kolding’s brilliant blog posts, who was then at Better Homes and Gardens but now is at Weichert. I started tracking the current month versus same month prior year sales a long time ago, and my research indicates to me that the Lake Martin Market turned for the better in July 2008, although 2008 as a year was the worst of the bubble crash.

2012 Waterfront Home Prices on Lake Martin

I think prices remained steady in 2012 at Lake Martin. Please see the below graph for my reasoning.

Long time readers of this blog know that I only look at Lake Martin home prices once a year. That’s because we are such a rural market, we have so few monthly sales on any given month, that if one tracks average prices per month, wild (80%) swings are seen. Monthly average sales price is not a reliable statistic because the sample pool is just too small.  My response is to look at sales price trends once per year, to break them down into “bands” of about $100,000 each, and to look at them in terms of how much each band represents sales as a whole.

For instance, if you look at the above chart, you can see that of the homes sold in 2012, about 24% were sold in the price range of $200,000 to $299,999. This was the largest price segment for the fourth year in a row. The bell curve did not totally shift to the right, which would indicate to me an overall market increase in price.

However, if you take a close look at the above bell curve for 2012, you can note that in other price segments like the $300,000 to $399,999 there was an increase in market share. While it was not enough of a shift to indicate an overall market price increase, it does make me optimistic that one is possible in 2013. It also does not match my intuition gained as an agent with “boots on the ground” this past year. In my gut, it felt like prices were increasing just a tad.  Maybe I am wrong. Or maybe I just need to break these pricing segments down tighter than $100,000 increments.

Maybe that’s a subject for a future market report.

Please stay tuned to this blog as I continue to pour through Lake Martin’s 2012 real estate sales results for waterfront properties. I will be looking at waterfront lots, the effect of foreclosures, and also be drilling down inside particular neighborhoods and areas.

Can I help you?

I am a full time Lake Martin real estate agent. I write this blog to help the public and myself stay up to date on Lake Martin real estate. I would love to be able to help you buy or sell a Lake Martin property. Please call me at 334 221 5862 or contact me by filling out this form.


Related Posts:

November 2012 Sales Report

Debunking The Labor Day Price Drop Myth
July Sales Cool
Lake Martin Lot Sales 2011

Lake Martin Real Estate Sales 2011 – Year In Review

Lake Martin Real Estate Sales 2010 – Lot Sales
Lake Martin Real Estate Sales 2010
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.

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Lake Martin Dinner Party on the Deck

Rarely do I feel like I live a life that would be featured in Garden and Gun magazine.  Somehow, when they feature folks that harvest herbs from their own yards, they come off as locavore specialists, whereas I feel sort of cheap.  These experts create handcrafted bird houses with wood from reclaimed Amish barns;  I buy mine at Wal-Mart.

The one time I felt as special as they are was when some friends invited us to eat al fresco at their Lake Martin home.  Both the husband and the wife are artists per se, who also know how to cook and entertain.  Eating outside on the deck at night at their Lake Martin home felt purposeful and special.  At our cabin we only eat outside when there are too many people, or when someone has burned something in the oven.

This picture, taken from the upper deck of 102 Grandview Lane, says “Dinner Party”  to me.  You’ve got the shady, secluded, tree house atmosphere, and then there’s the view of Willow Point across the water . . . some places just invite you in.  I can see friends gathering in late afternoon, and lingering here well into the evening.  Throw in a fire pit or one of those chiminea things and you have a favorite autumn hangout.

This house is a great buy for the Parker Creek area.  Deeded homes in this price range – in this area – are usually what I call match stickers (aka most people would burn it down or tear it down), but this four bedroom, two bath home is a tooth brusher (as in . . . move in ready, just bring your toothbrush).

Take a peek at the rest of the photos and listing info for 102 Grandview Lane by clicking here.

And click here to watch the VIDEO TOUR of the entire property.

Give me a call (334) 221-5862, or click here to contact me if you’d like to know more about this home, or any property in the Lake Martin MLS. 

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The Numbers Are In

A popular feature of my website,, is my Market Reports section.  I started crunching the numbers several years ago because nobody else was doing it.  So this latest look at waterfront real estate sales numbers tells me this:  The Lake Martin real estate market continues to chug along.

Lake Martin Market Reports

A review of the Lake Martin Area Association of Realtors’ Multiple Listing Service shows waterfront home sales on the lake had a very good summer in 2012. Considering all of the homes sold so far in 2012, the lake market is also positioned to beat the 2011 number of homes sold.

With the temperature easing into the 70s, and people focused more on football and school, we can take a step back and see how 2012’s monthly waterfront home sales fared versus last summer’s tally.

Looking only at the warmer months of May through September, we see that 2012 beat 2011 in three out of those five months: May, June and September. While 2011 scored wins against this year’s home sales in July and August, the margin of victory was too small to break the overall trend of 2012’s dominance.

Lake Martin Market ReportThrough the end of September, according to the MLS, 191 waterfront homes had been sold on Lake Martin in 2012. If we compare that to the 180 sold through September in 2011, we see that our market is tracking ahead of last year by about 6 percent. If this trend continues, and we finish the year at 6 percent above 2011, that will mean about 219 waterfront homes will be sold on Lake Martin in 2012. I think we have a fair chance at meeting that mark.

Interestingly, if we look back to 2006, which everyone agrees was a great year for Lake Martin real estate, we see that through September, 193 waterfront homes had been sold. That is pretty much a statistical tie with this year’s 191. In the 12 months of 2006, 235 homes were sold. Will Lake Martin achieve that level this year? I doubt it. It is certainly possible, but my gut tells me we don’t have that kind of momentum right now.

With three more months left to record sales, we cannot be sure about any of these estimates, but we can be sure that Lake Martin will have a good year in 2012. My definition of a good year is one that beats the prior year in number of homes sold. It is true, 2012 has not done that yet, but I feel pretty certain that 16 homes will be sold in the next three months, cold months though they are.

The only question in my mind is this: Will we have a great year? Will 2012 come close to challenging or even beating 2006’s total of 235? I think we will know the answer by the end of October. My guess is that we will need at least 20 sales in October to make a run at the record. Twenty sales in any October would be pretty sporty; it would be the best October since 2005’s 26 sales. That is why I think Lake Martin will not quite challenge 2006 and end 2012 with not a great, but a (thankfully) good year.

We have no reason to pout, though. There are plenty of real estate markets around the nation that would love to have an OK year, much less a good one.

And what about prices, you might ask? We will tackle that analysis in the cold of winter, when we will have a full 12 months’ worth of data.

For more Lake Martin Market Reports, click here.

This article was originally printed in the November 2012 issue of LAKE Magazine.

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Don’t Settle When Selling Lake Martin

I recently ran into a friend of mine in the grocery store.  He’s not a realtor, but he quickly asked if I was hiring.  He said he’s constantly seeing me in my videos all over Lake Martin on beautiful days.  I’m at all these fun events while he’s stuck at the office.  Clearly the joke’s on him.

He was kidding, of course, but I know this is often the perception of a Lake Martin real estate agent.  First of all, realtors are a pretty cheesy crowd, and I get that (the Glamor Shots, the “Teams”).   But even more, folks think that at Lake Martin we Realtors must paddle board in the morning and spend the afternoon in the boat cruising the lake with clients and a full cooler.  Yeah, yeah, yeah.  I sometimes feel the need to justify my vocation (“I can handle things!”)

Peer behind the curtain. This is a real job, and most of it is not glamorous.  As evidence, I submit these pictures.  Yes, the scenery is amazing, but this is no swimsuit issue cover shoot.  It was a cold, windy, spring day in Trillium. I knew that most of the best shots of my new listing at 1020 Wake Robin would be from the water.  It was a lot of fun, but I felt like a goofball with cold legs and a ladder that kept blowing down.

But in the end, I got the shots.  To see all the pictures and listing info for 1020 Wake Robin in Trillium, click here.  The home is really cool.

There are a couple of points I’d like to make with these pictures.

1)  I’ve been frustrated by poor quality photos of Lake Martin homes of other agents on our MLS, or a general lack of photos of a property.  Maybe you have been, too.  The remedy is simply to DO BETTER, and I hope that if you’ve seen the media marketing I do for all of my listings, you’ll agree that I attempt to do much better than a few mediocre photos set to muzak.  However, like any serious professional, I have to get better. To wit, I have purchased a brand new Canon 60D and am trying to learn how to use it, and use it well. My pictures must get past merely recording info and get to the point where they tell the story of each waterfront home or lot that I am selling.

2)  In order to market YOUR home, are you willing to settle for anything less than an agent’s best work?  Buyers are coming from all over the nation (hello to Fort Collins, CO and my chilly friends in Minnesota), and your online presence matters.  They are scouring the internet for info on properties, and are often left with more questions than answers based on a lack of good information.

Does it take longer to take more than 10 pictures of your lake home and lot?  Yes?  Does it take even longer to make a full motion video tour to help explain the layout and flow of the property?  You bet.  Is it worth it? Absolutely. It can mean the difference between engaging a potential buyer or merely confusing them.  Numerous times that buyers have asked me to take additional pictures and make private video tours of properties (that are not my listings) because there isn’t much info available on the Lake Martin MLS.  Six poor pictures of a $600,000 waterfront home is inexcusable in 2012, at Lake Martin, or anywhere.

If you’d like to know about my marketing plan for your home, give me a call at (334) 221-5862 or click here to contact me.

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Dock and Boat Lift Tips for Lake Martin Buyers

A lot of the time, Lake Martin buyers don’t pay much attention to the docks at homes they visit.  I think that this can be a  mistake.  Quite often the whole dock system (stationary dock, floating pier, boat lift system) can be one of the most expensive components of a Lake Martin home.

I’m merely a real estate agent, so I always tell my clients to consult marine construction specialists like Lake Martin Dock Company or Docks Unlimited when considering the nuts and bolts of a dock system.  But I do know that to build something from scratch that includes a stationary dock, large floating dock and covered boat slips with boat lifts, can easily run $50,000 to $75,000.  You can add to this dollar figure if you want to trick it out with power and water hookups, and especially if you’re in deep water that will require your supporting poles to be installed under the water (as opposed to those whose docks are on dry land when water level is down in the winter) .

If you are buying a waterfront lot on Lake Martin, you need to figure this into the cost of your home.  If you’re neighborhood covenants will allow it, you need to consider whether you want a covered boat slip with a boat lift.  It certainly not required on Lake Martin, but I will add that I’ve never seen anyone tear a good one, just because they didn’t want it.

If you’re considering buying an existing waterfront home on Lake Martin, you don’t get off the hook.  I think it’s very smart to look at the docking system carefully – go beyond the obvious questions, like, “Is it in good repair?”  Does it match your lifestyle?  Do you need a place for  jet skis?  Is it on big water that will create big waves and therefore requires a boat lift to protect your boat?  Or, maybe you’re like my buddy, Tony, who likes to pull his wake board boat out of the water and wax it down after every use.  That means you also need a boat ramp.

In the above video, I go over a small portion of these considerations.  The house that I helped Ken and Judy find in the Real Island / Little Kowaliga area already had a covered boat lift, and I talk about how to change the boat lift chassis.  That could be an issue you encounter when buying on Lake Martin.

Almost every situation is unique, so I would defer to boat lift manufacturers and installers on the exact ways to customize your dock and boat lift on Lake Martin.  I can help you with your Lake Martin property search, however, so give me a call (334) 221-5862 or click here to contact me.  I’d be honored to help guide you through the process.

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Patience is Helpful in Lake Martin Property Search

“The strongest of all warriors are these two — Time and Patience.”
― Leo Tolstoy, War and Peace

Some Lake Martin buyers know what they want right out of the gate, either because they have been visiting Lake Martin for many years, or because they know specifically what they want in a vacation home.  Other buyers might be new to Lake Martin or may need some help clarifying exactly how they would use a waterfront home.  Or both.

For the second group, I think that Ken and Judy have really good advice – to be patient and allow yourself time to find what you really want.  They knew where they wanted to be geographically, but took their time and ended up finding the home that fit their needs best.

It is not unusual for me to work with buyers for months, and sometimes even years, in order to find that perfect property.  If you’re just getting started with your search, or you’ve been at it for years, give me a call (334) 221-5862.  I’d love to walk with you through the journey.  And I’d love to celebrate with you and film YOUR testimonial video from the dock of your new lake home!

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112,000 Video Views On YouTube

We at Lake Martin Voice Realty would like to thank our readers and viewers for a huge milestone in our marketing of Lake Martin waterfront real estate.

Over the summer, as we were in the thick of showing property and enjoying the lake, we missed the fact that we passed 100,000 views on our Lake Martin Voice YouTube Channel. Since then, we have had several thousand more views on all our videos, and we currently sit at about 112,000 video views on YouTube alone.

We sort of hesitate to mention this because it can so easily resembles boasting. If there’s one thing that we don’t like about the real estate industry, it’s the tireless self promotion of those who somehow think that buying or selling a home, at Lake Martin or somewhere else, is about them.  It’s not.  It’s about you.

We do mention it as thanks to our readers and viewers and people who have allowed us to help them over the years.  Let us not boast in anything but the Lord who has allowed us to do all things.

That being said, and while you listen to another John C play a classic, here are some points to ponder:

  1. YouTube is big, but not the only way we market Lake Martin real estate by video. We also post videos on WellcomeMat also in the MLS, so in the big marketing picture, the total impact is really greater than that. WellcomeMat is a better host for real estate video, anyway.
  2. Total channel views are calculated by adding all of the views of all of one’s public videos (at this writing we have 236).  We also have private video tours whose views I do not believe count in this number. For more information about our private video tours, click here.
  3. Just for perspective, the last time I looked, our total video views are about 10 times that of every other Lake Martin agent combined. Also for more perspective, Coldwell Banker’s national channel has about 4.2 million views with 83,000 agents. That is 50 per agent. We have two agents, at about 55,000 views per agent.  I repeat, I am not into numbers for numbers sake. I am much more concerned about helping my sellers and buyers.
  4. As I said above, any eye popping numbers just mean that we are in debt to our readers and viewers. It further convinces me of our overall marketing strategy: keep attention focused on our properties and Lake Martin. Not us. No one comes to Lake Martin and buys an agent, or even a team of agents. They buy Lake Martin. They buy a home or a place to build a home.

OK, you might say. Then why is it a milestone? Does having a high number of views help my customers, and if so, how?

Yes it does:

  1. The YouTube search engine is #2 most frequently used search engine on the web. It’s behind only Google, which owns YouTube. Which means….
  2. Google search loves YouTube videos. It ranks them highly and even gives thumbnail images to entice you to view them. It digs down into the keywords that are used to describe each video, which is precisely why we are so careful to accurately describe ours.
  3. The higher you are viewed for a subject matter, the better your search results. You are seen as a relevant source of news and info for the keywords present in your videos. Obviously, I am going for big keywords like “lake martin” and “waterfront” but also we like to kick tail in the long tail searches like “young’s island” and “parker creek.”
  4. This is why I can make a video on a Tuesday and it be tops on a Google search the next day. This helps my videos get found, and getting found is the first and biggest step in internet marketing these days.  The hardest part is stepping through the noise. That is why if you FSBO your house and make an awesome video, you more than likely will not get found by the typical searcher, who does not venture past the second page of results on a web search. It can be (and likely will be) more artistic, better shot, edited, and better done overall. But it won’t get found because I am louder than you are.

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Why Do You Want a Lake Martin Home?

I have a client who has narrowed his search down to two Lake Martin waterfront homes his family likes.  This is great!  But because this is Lake Martin real estate, deciding between the two homes is proving to be tough.  A quick MLS property search in any price range will confirm that shopping for Lake Martin homes is not like comparing apples to apples.  There are so many variables to consider, that even 2 homes next door to each other can have radically different qualities (water depth, house condition, waterfront footage, view, etc.)

It boils down to the simple question: “Why do you want a lake house?”  That sounds obvious, but really thinking about their expectations for a lake home forces buyers to make choices:  Where is the best location for them?  How will they use it?  What do they like to do at the lake? Why are they even buying one in the first place?

The video below is of Lake Martin Voice Realty clients, John and Wendy, who have just closed on their home, and had to make similar decisions.  I think they offer some great advice:

Back to my current client with a choice to make.  Our conversation goes something like this, and it is:

Buyer:  “John, what do you think?  House A or House B?”

John:  “I have been selling long enough to realize that different people have different priorities. I think House A is a good choice if you prioritize newer home construction and the location in the west side of the lake.  I like House B if you prioritize size of waterfront and length of view, or a North Lake / close to Highway 280 location.

If you are undecided about location, my advice is to ask yourself where you would like to be closer by water? Whereas House A might cost you 12 more minutes to drive from Birmingham, it might be only 7 minutes by boat from friends.  Or House B might be 15 minutes faster drive from Birmingham, but 30 minutes from friends by water, but 10 minutes to shopping and restaurants in Alex City.  You just have to ask yourself what you will be doing and how you will be spending your time.”

What about you?  What are your priorities?  Why do you want to buy a Lake Martin home?  I’d love to be your realtor and help you think about these question – whether your time frame to purchase is two months or two years.  Give me a call at (334) 221-5862 or click here to contact me. 

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Alabama Power Changes Lake Martin Lot Leases

Alabama Power, a division of Southern Company, is utility company with a huge influence on the waterfront real estate market on Lake Martin, Alabama.


First of all, they built Martin Dam in 1926, thereby damming the Tallapoosa River and creating Lake Martin in the first place. For my post about our tour of Martin Dam, click here.

In the process of building it, they bought up all of the land under, and most of the land around the eventual shoreline. Along with developer Russell Lands, Alabama Power owns pretty much every inch of undeveloped land around the lake.  Area experts estimate that of the 770 miles of shoreline of Lake Martin, 70% remains undeveloped.

Over the years, Alabama Power has sold off residential lots. But a big part of their influence remains as holders of lot leases. This is where the homeowner owns the house, improvements, etc., but Alabama Power still owns the dirt and they lease it to the home owner.

Since about 2007, I have written a couple of posts on this subject. To get a basic understanding of how leased lots work on Lake Martin, please read them. Please keep in mind, they are old and about to be sort of outdated by what I say below, but please see:

Mythbuster – leased lots

and see:

Lake Martin Leased Lot FAQ

Huge Change In Leased Lots For Lake Martin

Since I have written the above, Alabama Power has made a huge change in the lease program. If you really dug into the old leases, you would find that they used to read that they were for five years, with five automatic renewals at five years each. The way you renewed it was to pay the first month’s payment.  So, it was five years plus 25 years of renewals, that’s how they figured they were giving you a 30 year lease.  It made sense to them, but caused most loan underwriters fits.   Well, I should rephrase that. Before 2008, lenders didn’t give a hoot. Back then they had only two requirements for lake lending: mirror and water. If you could fog a mirror, and if the land was touching water, they pushed money at you.

After the real estate meltdown in 2008, the pendulum swung to the other extreme. When underwriters on leased lot home loans read the automatic renewal clause, most freaked out. They would not give 30 year fixed rate loans on what they viewed as five year property. Most wouldn’t even offer an ARM loan. That left you only with a couple of local banks as financing choices.

All this is now moot!

Somewhere around March of 2012, Alabama Power changed the lease terms for their residential land leases on Lake Martin. Now they are 35 year fixed term leases, meaning, the lease starts in (for example) Jan 1, 2012, and ends December 31, 2047.  This allows you to get 30 year fixed rate financing. I think this development could really revolutionize the way people view leased lots.

Over the years I have been blessed to sell a lot of waterfront leased lot homes on Lake Martin, and for every one I have sold I have talked to probably 50 buyers about the leased lot process on Lake Martin. It’s a hyperlocal concept, to be sure, and when buyers have reservations, it’s usually about the lease terms. Many times, even when they get past the concept and go to finance the purchase and want to use their hometown lender, that is where the deal would crash. Hometown lender would be unfamiliar with Alabama Power lot leases, would freak out about the renewals, and the deal would die.

Now, with Alabama Power offering to have a 35 year lease, I predict a tremendous influx of other lenders who can finance them. Like any other type of real estate, once the financing options open up, it makes them easier to buy. When things are more liquid, they gain in value.  I think over the long term, say the next five years, you will see a gain in leased lot homes’ worth on Lake Martin.  It’s a great move by Alabama Power, and I heartily applaud it.

Are you interested in buying a leased lot waterfront home on Lake Martin? I would be glad to help you out, and explain what to look for so that you get the most for your money.

Or do you own a leased lot home right now, and are wondering how this new policy might affect your home’s value? Click here to request a no obligation CMA, or call me at 334 221 5862.


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