info@lakemartinvoice.com

Archive for the 'Seller Tips' Category

You Can’t See This Foreclosure at Lake Martin

lake martin foreclosure 2016There are not many waterfront foreclosures right now in the Lake Martin market. I haven’t run the numbers yet, but my feeling is that they peaked in 2009 or so. However, my Lake Martin Foreclosure list is still extremely popular with my readers and my real estate clients. I get a fair amount of folks who are only curious, but I also connect with people that end up buying later. Since I try and followup with everyone, I spend a decent amount of time explaining that buying a foreclosed home, on the water, at Lake Martin these days is a long shot. (Yes, there are plenty of good deals that are not foreclosures).

When I was setting up some waterfront homes to see tomorrow, I ran across a home on the MLS‘s Hot Sheet – I was initially interested because the house looked nice from the outside and it looked to be on a flat lot with a good view of Lake Martin. It was a foreclosure to boot- despite my generalities above.

I called the agent to show it, and he said, “you can’t show that one. I haven’t even been inside of it.”

Huh?

Apparently there are people still in it and they are objecting to the sale. Agents can’t show it. Buyers can’t walk through it. You can enter a bid online, cash only, please sir.

OK.

If this one sells it will be one for the record books, sportsfans.

 

 

Can I help you find your dream Lake Martin home or lot? Contact me here or call me at the number at the top of the page.

Please download by FREE LAKE MARTIN VOICE APP before you call, or I will be so sad….

Tags: , , , , , , , ,

2015 is Lake Martin’s Best Year Ever!

Lake Martin had its best year ever for waterfront real estate sales in 2015.  Sales were better in 2015 than in the big real estate days of 2005. Please take a look at this market report for the Lake Martin waterfront real estate market. I shot this video in January with preliminary numbers, but they held true:

The Lake Martin real estate market report for 2015 reflects record numbers of waterfront homes sold and waterfront lots sold.2015 home sales

As you can see in the above chart waterfront home sales in the Lake Martin area were 24% ahead of the previous high in 2014 – with 360 sales in 2015.

December 2015 lot sales chart

And looking at the chart above waterfront lot sales were 15% ahead of 2014 – with 85 sales in 2015.

Keep in mind, these numbers are compiled from the Lake Martin Area Association of Realtors’ Multiple Listing Service*.

The bottom line for Lake Martin waterfront real estate sales in 2015:

The bottom line is that we had a fantastic year here at Lake Martin. If you have been reading this blog or my column on AL.com, you know that all of 2015 has been outstanding. It really was just a matter of how great it was going to be.

Any time that any real estate market beats the prior year in number of sold units, that’s a great year. We have been doing this in the waterfront segment of Lake Martin since 2008, with no signs of slowing down.

What, if any, were the disappointments in the Lake Martin real estate market in 2015?

I had hoped for the “Triple Crown” – that is, 1.) Top year number of waterfront homes sold, 2.) top year of number of waterfront lots sold, and 3.) increase in waterfront home prices. While we definitely had the top number of waterfront homes sold on Lake Martin, and also an increase in pricing, we did not have the top year in number of lot sales. It’ snot like we had a bad year in lot sales. 85 sales is nothing to sneeze at, but it did not best the previous record of in 2005.

What about the future? Won’t the election hurt sales at Lake Martin? Or China’s economic slowdown? Or [insert your favorite doom and gloom item here]?

I think the Lake Martin waterfront real estate market is set up for another wonderful year in 2016. I don’t pay attention to macro-economic trends and I darn sure don’t listen to the so-called NAR economists. I watch the local numbers. As long as we are beating the prior year, I am not calling an end to this bull market. Beating the same month from the prior year is per se an increasing market.

For example, as great as 2015 was here at Lake Martin, please note that 9 waterfront homes were sold in January of 2015. Compare that with 12 sold in January 2016. As a market, we have already sold as many waterfront homes in the first 17 days of February 2016 than we did in the entire month of February 2015.

In other words, 2015 was hot, but 2016 is starting hotter!!

When it slows down, trust me, I will be the first one to call it. I am not afraid to point out that the emperor has no clothes. But until then, don’t worry about the price of tea in China because it apparently is not affecting Lake Martin real estate.

If you have any questions, please contact John Coley with Lake Martin Voice Realty at 334 221 5862 or emailing directly at john (at) lakemartinvoice (dot) com.

**************************************

Copyright notice – the above, and every other post on this blog, is the property of John Coley, Broker, Lake Martin Voice Realty. Appraisers may use my information in their appraisals without charge or asking, but please give me credit by citing me, my company name and title, and website address of http://lakemartinvoice.com.  If anyone else would like to use this information, please contact me here and ask. I probably will let you do it, just please ask!

(*)Disclaimers: All of the above info was taken from the Lake Martin Area Association of RealtorsMultiple 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.

 

 

Tags: , , , , , , , , ,

Lake Martin Septic Tank Construction

A very high percentage of waterfront homes on Lake Martin are on a septic system.

As a full time real estate agent at Lake Martin, I have learned that the septic system is one of the most important things to consider when buying a home here.

While I am not a professional in this field, I thought I would attempt to summarize the process of building and installing a new or repairing an old septic system, septic tank, or septic field line around Lake Martin.

  1. Get an engineer to design a system – The engineer must make sure you know where all of the lot lines are, and the proper setbacks from those lines. They also must perform a percolation test to understand your lot’s absorption rate. Once the system is designed I am pretty sure the County Health department must approve it on paper before you can proceed.
  2. Get a septic installer to quote the cost of the system – As with any construction project, if you are installing a septic system on Lake Martin it’s always a good idea to get an estimate from a few different reputable area contractors.
  3. Install the system – The good contractors are usually very busy, so it might take a month for you to get one out to your house.
  4. The County reinspects – After installation, the County Health Department comes out and reinspects the system to make sure you have built it according to design and code.

If you need references for Lake Martin area engineers, surveyors, and septic installers, I will be glad to provide them. Every case is different so please take my advice and be sure to get quotes specific to your home and lot. Don’t just rely on a quote your neighbor or cousin received three years ago. Get specific.

At this writing, new septic system and septic lines are being installed at one of my listings at 236 Delilah Lane. I took the chance to shoot the above video to illustrate the process.

The septic guys around Lake Martin tell me that about 90% of the systems installed are pumped systems. This means the waste will be pumped from the septic tank to the septic field lines, which are basically a system of PVC pipes that allow the water to filter down into the ground. You can’t have a lot of vegetation near the field lines, because you don’t want roots to clog up your system. You will see in the video how they are clearing out some of the trees near where the field lines will go.

To trace the system as a whole, the waste is sent from your house to the septic tank. If the tank is uphill from your house, it goes to a pump chamber, then to your main tank. From there, if the field lines are uphill also (and they probably will be), it hits another pump chamber and then it goes to the field lines where it settles out into the soil.

If you have a question about septic tanks, please do not call me!!! I am just a real estate agent. If you have an issues or questions, you should consult with an engineer who designs septic systems.

If you have any questions about waterfront real estate on Lake Martin, you can contact me by calling me at the number at the top of the page or feel free email me! 

For other important things to consider when buying or building a home, CLICK HERE.

Tags: , , , ,

Are Lake Martin Real Estate Sales Seasonal?

lake martin alabama reflection leaf color

Are Lake Martin waterfront real estate sales seasonal? That’s a question I hear a lot this time of year.

It’s a pretty natural question, I think. If you own waterfront property on Lake Martin, you might be wondering whether or not to put it on the market now, or wait until the spring when the weather and the sales heat back up.

Or, if you are considering buying a home or a lot on Lake Martin, you could possibly be thinking that everything goes on sale after Labor Day.

To start with the buying side question, the answer is no. There is not huge price drop that happens after Labor Day. It just doesn’t happen. A studied the numbers on this a few years ago and found that the sale to list price ratio does not change when the temp goes down.  See this link. This myth persists, though. But it is bunk.

What about on the selling side? Are there so few sales on Lake Martin in the cold months that you’re better off to wait until the Spring?

I don’t think so.

Some sellers might worry that they will have a higher Days On Market statistic in the Spring if they don’t sell. I polled a few of my fellow agents and they agree with me:

It’s better to have it on the market and have a few higher days on market. Nobody pays much attention to that piece of data. In our market it doesn’t mean a seller is desperate, it usually means they are stubborn on price.

Think about it – if it’s not on the market, agents (like me) can’t advertise it. They can’t put it in the MLS. No one knows about it. It definitely won’t sell in that scenario.

Do you need help with Lake Martin real estate this fall? I would love to help out. I am a full time agent here at Lake Martin. Please call me at the number at the top of the screen or contact me here.

Tags: , , , ,

Spring 2015 Market Report for Lake Martin

March 2015 was another great month for Lake Martin waterfront home sales.

The graph below was provided by the Alabama Center for Real Estate (ACRE). On it you can see the number of homes sold monthly and the amount of inventory in the Lake Martin area during those months. ACRE’s chart shows the months of March for 2007 through 2015.

March has been consistently been a good month for Lake Martin waterfront home sales.(*) In 2015, 36 homes were sold in the month of March. This number includes sales from all brokerages and real estate agencies that participate in the Lake Martin MLS. In 2014, there were 28 homes sold in the month of March, so there was an 8 home increase in sales from 2014 to 2015. This is impressive, because 2014 was a record year for sales. The previous record year for sales was in 2005, when 30 waterfront homes were sold in March.

Lake Martin Home Price Changes?

A question I hear a lot is, “if Lake Martin home sales are up, what about prices?”

It’s a great question. When I looked back at the entire year of 2014, I did not see evidence of a huge price increase for waterfront property. What I saw, maybe, was a slight increase. Perhaps a couple of percent, but it’s hard to parse the numbers that tightly. Looking forward, I think you have to consider the amount of waterfront homes for sale right now on Lake Martin.

There are currently 358 homes for sale right now in the Lake Martin MLS. In comparison, there were 324 homes for sale at this time in 2014. Back in 2005, there were 180 homes for sale and prices went up from 2005 to 2006.  To emphasize this point, I cut the ACRE chart down to only the years of 2005, 2014, and the current year.  For example, in 2005, when we had 180 homes for sale and selling 30 homes a month, it was only 6 months of inventory being sold.

I think that 2015 will be the first year in a while that we will be able to go up in price. I don’t think we will see huge (30%) price jumps like we saw in 2005 because of the ratio of sales to inventory. But I do think we have a pretty good chance for a home price increase here at Lake Martin.

Only time will tell, so check back for more market reports as the year goes on.

Do You Need Help At Lake Martin?

I’m a full time real estate agent here at Lake Martin. I write these market reports help my clients. Do you need help with buying or selling at Lake Martin, please contact me, John Coley, by using this contact form, calling me at 334 221 5862 or emailing directly at john (at) lakemartinvoice (dot) com.

Copyright notice – the above, and every other post on this blog, is the property of John Coley, Broker, Lake Martin Voice Realty. Appraisers may use my information in their appraisals without charge or asking, but please give me credit by citing me, my company name and title, and website address of http://lakemartinvoice.com.  If anyone else would like to use this information, please contact me here and ask. I probably will let you do it, just please ask!

(*)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.

Tags: , , , , , , ,

Lake Martin Agent on HGTV’s Lakefront Bargain Hunt

Lake martin agent on HGTV lakefront bargain huntLocal Lake Martin agent Amy Clark is featured on an upcoming episode of HGTV’s Lakefront Bargain Hunt!

Amy is the broker and owner of Amy Clark Real Estate. Amy’s contact info is:

Amy Clark Real Estate, Inc.
1994 Cherokee Road
Alexander City, AL 35010
http://sellinglakemartin.com

Amy is a great real estate agent and friend. She has been a very loyal member of the Lake Martin Area Association of Realtors for years, and has served in just about every office there is. Amy is also a hard working, good person, and I am so happy for her that she and her husband and fellow agent Todd were featured on HGTV. Please tune in to watch!

Show times:

    • Sunday May 3 at 7:30 pm CST
    • Monday May 4 at 2:30 am CST
    • Friday May 8 at 1:30 pm CST

Here’s the link on HGTV’s site: Lakefront Bargain Hunt

February 2015 Lake Martin Market Report

Often, I’m asked, “How is the market doing in 2015 compared to 2014?” In short, I think its doing great! If you look at the graph below provided by the Alabama Center for Real Estate, you can see that February 2015 sales doubled from February 2014. In February 2015, sales were at 14, compared to sales at 7 in February 2014.

Feb 2015 market report graph

The yellow line, represents the inventory levels. The levels are the same, and certainly a lot better than they were in the dark days of 2007. Overall, when you look at the big picture, you can see that supply on the inventory side is similar and demand on the sale side is similar. We are poised for another great year here at Lake Martin.

Hear more about this in the video below.

 

Tags: , , , , , , ,

2014 Is Lake Martin’s Best Year Ever

Lake Martin had its best year ever for waterfront real estate sales in 2014. This year’s real estate market report reflects record numbers of waterfront homes sold and waterfront lots sold.

Close readers of my prior market reports for Lake Martin will note that the previous record year for home sales was 2005. In that year, 285 waterfront homes, townhomes, and condos were sold in the Lake Martin MLS(*). It remained the high water mark as sales started to slide the very next year, bottoming with a miserable 137 waterfront homes  sold in 2008.

Do you remember 2008? I do. In 2007 we had no rain. In 2008 we saw few home sales.

Thankfully, the Lord God provided rain and lack of supply combined for the Lake Martin market to bounce back in 2009. As you can see on the above chart, the lake had 194 sales in 2009, a full 42% spike in one year.

Why do I go over these old numbers when I am supposed to be talking about 2014?

Because I think it is worthy to remember how everyone – ( well – almost everyone, see my point #3 to buyers in this report from 2008) – back then said “things will NEVER get back to the old days. We will NEVER see Lake Martin sell like 2005 again.” Wrongo. Incorrect. I heard the naysayers back then and I still hear someone say that at least once a month now.

Here is proof positive that you should never say never.  Seriously. Go back to my Lake Martin market reports in 2008 here and look at it.

Lake Martin Waterfront Lot Sales

You also might remember that 2013 was a huge year for waterfront lot sales here on Lake Martin. Did we repeat that feat in 2014? Yes.

Unbelievably, waterfront lot sales were higher in 2014 on Lake Martin than 2013. One might be tempted to conclude that this is only because Alabama Power Company, a private utility and major waterfront landowner, decided to sell a bunch of lots in both years. However, even if you remove the 23 lots Alabama Power sold in 2014 through the MLS, it would still leave 51 lots sold, which is way better than 2012. Similarly, in 2013 only 17 of these waterfront lots sold were from Alabama Power. Remove those, and the record still stands.

FAQ About My 2014 Lake Martin Real Estate Market Report

1.) What prices do in 2014 on waterfront homes? I will cover Lake Martin’s pricing trends in a later post. But my quick answer is that I did not see a huge price jump. I will detail this in the future.  Please stay tuned.

2.) If we beat 2005 for the best year ever, I guess that means now we will start sliding again? Not necessarily. I calls them as I sees them. When sales start slumping and losing to the prior year, I will be the first to say it. But not before then. Mark my words, in a free market, everything has a cycle. Yes, Lake Martin will experience another contraction some time in the future, just not now. Right now we are booming. Also, since I strongly believe that price follows sales, I don’t think we can call a peak until we see upward price movement.

3.) What do you do in real life? I am not a blogger or writer by trade. I am a humble real estate agent here at Lake Martin. I write these market reports and other items to try and be helpful. If I may help you buy or sell something here at Lake Martin, please contact me by clicking here. I would love to be of assistance.

 

Related Posts About Lake Martin Real Estate Market Reports:

Lake Martin 2012 Waterfront Market Report
Lake Martin 2013 Waterfront Market Report

All Lake Martin Waterfront Market Reports

Copyright notice – the above, and every other post on this blog, is the property of John Coley, Broker, Lake Martin Voice Realty. Appraisers may use my information in their appraisals without charge or asking, but please give me credit by citing me, my company name and title, and website address of http://lakemartinvoice.com.  If anyone else would like to use this information, please contact me here and ask. I probably will let you do it, just please ask!

(*)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.

Tags: , , , , , ,

Another Lake Martin Video You Can’t Watch

At Lake Martin Voice Realty, we are big believers in real estate video. At this point, that almost goes without saying. We’ve been posting (hopefully) helpful videos about Lake Martin real estate and area info since about 2008. Some of these videos, though, are not for the public.
lake martin home seller video
I just posted a video to my YouTube channel that is not public. In fact, it is only aimed at four people.

Don’t feel sad, you can get one made for you, too. This Lake Martin video was made for two couples that went in together and allowed me to help them find their lake home. Due to work and kiddo restraints, they were all not able to make it to the “walkthrough” before closing. You are probably familiar with walkthroughs in your hometown – it’s where the buyer walks through the home, making sure everything is ok before closing, and perhaps – if they’re nice – the seller is there to let them know about the quirks, tips, and tricks of the home. Here at Lake Martin that also includes things like: How to winterize the landscape irrigation? How to treat the boat lift when the water goes down? Who’s the best neighbor to call if you need a tool?

So, no, you can’t watch my latest video. I made it by following around the seller and asking him questions. I uploaded it to YouTube and sent the Unlisted link to the buyers. It’s about fifteen minutes long, and hopefully will be of use to them for years to come. There is no extra charge for this, it is just how we roll up in here.

If you would like to watch all of the rest of the videos on Lake Martin that we’ve made since 2008, please CLICK HERE for my YouTube channel or here for a summary page and player on my blog.

If there are any questions you may have, please contact me and let me know. Thanks!

Tags: , ,

Help Us Improve Our Site: Mobile Mode

Lake Martin Voice seeks to be the number one resource for all things about Lake Martin real estate.
lake martin mobile real estate search
We realize that a huge whallop of our readers do so from their mobile devices, be they iPhones, iPads, Androids, whatevers. We want Lake Martin Voice to be the number one resource for real estate on Lake Martin. Period. Therefore we want your mobile experience to be the best, too. Recently we installed a new tool to help with that. For the nerdy interested, it’s WP Touch, a WordPress plugin.

Anyway, we have some flexibility on how our menus and pages are displayed, so if you have any feedback we would love to hear it.

Specifically:

Do you like using the home search tool?
Is the home search easy to get to?
Once you’re on the home search, do you like it? What can improve?
What is hard to do?
What is easy to do?
Anything you would like added to the menus or pages?

If you have any feedback you can fill out this contact form or email me at john at lakemartinvoice dot com.

Thanks!

Tags: , ,