Lake Martin Voice Realty
Lake Martin Best Buy Lists: Pick Your Price and Find Home Value
A lot of Lake Martin buyers request my waterfront Foreclosure List. You may be one of them. If you’ve seen it recently, you know that the Foreclosure list is steadily dwindling. Does this mean that there are only a few good deals left on Lake Martin? Not at all.
Don and Kristie are a great example of clients who originally called me about foreclosures, but quickly realized that there are plenty of good buys out there in the regular market.
It can be overwhelming to sort through the hundreds of waterfront properties in the Lake Martin MLS, but I’ve found that a lot of buyers want to do their own research before they call a Realtor. My goal with this website is to give you the best tools for that research.
Enter my Best Buy Lists.
Very few buyers come with a carte blanche checkbook, so I’ve created 2 3 lists based on price range. (I’m working on just created a $600k to $1m list, so if that price range speaks to you, be on the lookout, or just go ahead and call me): 
1. Best Buys $350K and Under
2. Best Buys $351-599K
3. Best Buys $600k – $1 million.
Click here to request a Lake Martin Best Buy List
Each list is a compilation of waterfront properties that are worth considering based on a combination of price, features, and my professional opinion. A lot of these homes are not our listings because I pull from the entire Lake Martin Area MLS. You’ll find the Best Buy Lists button at the top right corner of this page.
So this is real estate 2011. Buyers used to have to call a Realtor before they could get the goods. We can’t hoard information anymore – it’s all over the Internet. I’ve decided that if I organize it for you and make it available with no strings attached, you might appreciate it enough to contact me when you’re feeling serious.
Plus, the real value in a good Realtor is his/her ability to point out the best deals and crucial trends that will affect your purchase. Would you go to a stockbroker merely because he knows what stocks are selling for? No. You want a stock broker that can advise you. Same deal here. The information age is over. Information is free and ubiquitous. You need advice and that’s what I like to provide.
In the meantime, please feel free to contact me if I can help you with Lake Martin real estate in any way.
Trolling Facebook Works
Unlike many of the people who use it, I freely admit to spending time on Facebook.
Why not? It’s where about 25% of page views in America are happening on the web. For a business like mine that relies so heavily on the web and personal referrals, it’s a no brainer.
Mondays and Tuesdays are a good time for me to troll my friends’ photos on Facebook to see if they have posted some fun pictures taken on Lake Martin from that previous weekend. It’s too bad I can’t freely post them here, because these are some of the best testimonials for Lake Martin that exist on the web.
Recently I came across a nice shot of Lake Martin taken from the back deck by a couple whom I helped find their lake home. This is their first summer on Lake Martin and they are loving it, as you can tell by the picture.
It is also fun to read everyone’s comments like “beautiful” .. and “can’t wait to join you” and the like.
Happiness!
What about you?
Are you considering buying a waterfront home or lot or condo on Lake Martin?
Feel free to search the Lake Martin MLS here – or give me a call at 334 221 5862 or email me through this contact form.
I would love to help you have a back porch view like this one!
Rent Vs Buy – Lake Martin Math
One of most enjoyable parts about writing this blog about Lake Martin real estate are some of the questions and comments I get from readers.
A couple of weeks ago I guy emailed me to ask me what I thought about his plan of renting a home on Lake Martin next year from May to September for $3,750 per month.
I thought that it was an interesting concept. I don’t know if he was planning to rent a Russell cabin or not. Regardless, here is how I answered him:
“Thanks for your your email. My guess is that you will probably have a tough time finding someone to rent to you May through September. That is the peak season here on Lake Martin. Most long term renters require 12 months. This goes double for Russell cabins. If you want to hear someone get tickled, call them and tell them you only want to rent during those months.
If you are really serious about renting a home, I would try lakemartin.com and go to the rentals section. That is how most people rent their homes on Lake Martin, either long term or short (nightly or weekly) term.
However, one thing to think about – if you assume 5 months rent at $3,750 – at the end of which you would have nothing and it’s (probably) NOT tax deductible. that’s 5 * $3,750 = $18,750 in total cash out for rent.
If you divide $18,750 by 12, it gives $1,562 you could pay per month on a bank loan. Assuming 4.25% interest you could service the debt on a $320,000 loan. At an 80% loan to value ratio, that assumes you can buy a $400,000 lake house. You can buy a nice waterfront home on Lake Martin for $400,000 these days.
In other words, for the money you spent in rent for only 5 months, you could pay for a $400k waterfront home for a year. At the end of the year, you are still the owner. You can deduct your mortgage interest (probably, check with your CPA). About $13,200 of that is mortgage interest payments, so if you assume a tax of 35% that’s a net effect of a $4,620 discount (35% * 13,200). Again, check with your CPA to be sure.
All this assumes that Lake Martin home values don’t rise between now and December 2012 (which I think they are likely to do). If / when they do, you gain on your home value as a direct result. If you are renting, your landlord will just raise the rent.
With home prices this low, and rates this low, it really makes the case against renting. Even for 5 months. Much less 12 months.”
What about you?
Have you thought about renting a home on Lake Martin, and are wondering how it compares to buying one? I would be glad to help you consider your options. Please use this contact form to email me or call me at 334 221 5862.
Maybe you weren’t thinking about 5 months at $3,750 per, but I am sure you still might like to entertain the notion of buying.
Lake Martin Dream Cabin Renovation In Parker Creek
For so many people, Lake Martin conjures up visions of rustic, quaint cabins on tree-filled lots. Many lake-lovers spent summers at a relative’s cabin. Maybe they never took part in the spring removing of the ladybugs, or cared that the window unit above their bed leaked a little. It was fun to bunk up with 4 other cousins in a room that wasn’t really a bedroom. 7 year olds don’t notice that the floor in the kitchen isn’t exactly level. But what they do remember is all they fun they had as a family . . .
So fast forward thirty years. Wanting to re-create those laid back, family friendly memories for their own kids, a search is begun for a rustic “cabin” to call their own. If you’ve been around the lake for any length of time, you know lots of these cabins require buyers to have a little vision.
You’ve also heard that around Lake Martin, the LOT is everything: you can change your house, but you can’t change your lot. Many times that old, rustic cabin on the awesome lot only has one bathroom. So you have a decision to make. And you need a little vision.
Colin and Julie are great examples of such a vision. A couple of years ago I had a home for sale in the Parker Creek area of Lake Martin. They loved the beautiful lot, loved the area and the cabin feel, but the house on that lot had only 2 bedrooms and one bath (and they have 4 kids).
Plus, one of those 2 bedrooms used to be a back stoop that was taken in and dubbed “The Honeymoon Suite” by the previous owners.
So they bought the location, and changed the house. And they didn’t add a lot of square footage: the only additional space comes from enlarging the existing screened porch. They shifted some things around, and ended up with a cozy cabin that completely suits their needs. See what you think in the above video. I made it by mixing together some of the pictures I took from when the home was for sale, and then some pics I took after their renovation.
And here they are talking about the process of buying their cabin:
If you dream of owning that nostalgic Lake Martin cabin, let me help you with your search. It costs a buyer nothing to have an real estate agent do the legwork. Give me a call and let’s see what we can find! 334 221 5862
My Big Mistake, Caught On Video
I go on and on on this blog about the power of video to help with the Lake Martin real estate process. I know it must get tiresome to hear, but I truly believe it. These days it is so easy and cheap to produce your own video, I use it to document Lake Martin events, neighborhoods, home tours, and yes - happiness.
Ronnie and Sheri just closed on a waterfront Lake Martin home. I knew they were excited, and that made me happy. But it wasn’t until I sat down and edited the testimonial video they shot for me, that I really appreciated the joy that’s a part of this real estate gig. I also realized that I made a tremendous error when I shot this testimonial.
My Big Mistake, Caught On Video
95% of closings for buyers coming to Lake Martin are euphoric. They are fired up, many times their car is loaded up. They are ready to enjoy their new lake home. That’s why I like to be there with a video camera. They get to gush about their excitement about Lake Martin. That’s fun to see.
And, if they happen to throw a compliment or two my way, well….. I guess I can let that slide!
I will admit, when Ronnie launched into complimenting me, I was rather flattered. I was thinking, “whoa – this is great!!” As he neared the end of his gracious remarks, and I got ready to hit the stop recording button on my iPhone, I thought it was a good video. But I missed the truly great part of the video, and that was my big mistake.
Sheri is clapping at the end of the clip.
Check it out, right at the end when I am say, “welcome to Lake Martin” – she is clapping!! It’s that excited clap like when your parents tell you that you can open up one present on Christmas Eve, or when your team scores a touchdown. It’s pure joy.
Idiot!
AND I CUT IT OFF!
What an error. I’ll admit, my ego was so inflated from the compliments that I missed it when filming.
I blew it.
That’s what it is all about – joy about Lake Martin. That’s what this blog is supposed to be about. Not about realtors blathering about themselves. We are A Voice, not THE Voice, spreading the word about the lake. That’s what all my efforts should point towards.
I know it’s totally cliche, but you can “see it all over Ronnie’s face.” It’s hard to walk away unaffected. True, not all closing as are as easy as theirs. And not all clients are as animated. I know, in the big picture, I’m an insignificant part of their Lake Martin journey, but to be let in on that moment of excitement is a lot of fun!
If I had to do it over, I would bring the sound down on Ronnie, so that you can just see his excitement about Lake Martin. Never mind that he’s talking about me. That’s not the point.
Next, I would have taped about 45 seconds of Sheri just clapping and jumping up and down.
Show of hands – who thinks they are going to enjoy Lake Martin? If you run into them this summer, tell them congrats!
By the way, is it just me, or if you close your eyes, does Ronnie sound just like Jeff Foxworthy?
Wanting to load up YOUR trailer and claim your piece of Lake Martin? Give me a call or contact me and let me help you find YOUR lake home. 334 221 5862
The Lake Martin Day Trip: Have Boat, Will Play
You don’t have to own property on Lake Martin to have fun here. In fact, a day trip on your boat can be a super Lake Martin experience. I’m not saying you shouldn’t buy a home – I need to pay the power bill just like everyone else – but I am saying that you can get a lot of enjoyment out of just your boat and the people in it.
Pack a cooler. Find an island and anchor. Cruise the entire lake. Tie up at a restaurant for lunch. Visit friends. Ski and wake board in the calm waters of a slough. Enjoy drinks on the boat at sun set. Not a bad way to spend the day!
I recently sold a home to a couple who had been doing just this : day tripping from Georgia and putting their boat in at River North Marina. They love to wake board, so they liked the calm waters on the north side of Lake Martin. They had plenty of Lake Martin day trips and several rented lake houses before they finally decided to buy. These are great ways to get to know the lake.
If you’re interested in day trips to Lake Martin, there are plenty of places to launch your boat. Click on this link for a list of Lake Martin public boat launches. Click here for a list of Lake Martin marinas. If you don’t have a boat, and would like to rent one for the day, check with the marinas for prices and availability.
If you’re a pro at the Lake Martin day trip, comment below and let us know your tips. Thanks for the input!
Real Estate Tours: When Video is NOT a Video
I love to use full motion video tours to market Lake Martin homes. I think it’s a cool use of today’s technology, but mostly I love video because buyers and sellers love it.
I know buyers love it, because they constantly tell me. I have been blessed with many people calling me and choosing me to help them find a home around the lake.
Sellers like it, too. When I show them how much a full motion video tour helps spotlight selling points, give context (how do you get to the lake from the kitchen?), and keep buyers’ attention, it’s a no-brainer. They want a video.
When a video is not a video..
Again, I realize all of this is pretty obvious. People want video of homes on Lake Martin or any other real estate market for that matter. Realtors everywhere are interested in doing more video, hence the (very flattering) invitation that ReTechSouth gave me to teach this class on real estate video at their conference in Atlanta.
With so many agents now trying to provide video, sometimes you encounter a slide show that is put in the “Video Tours” link on the Lake Martin MLS. These photo slide shows are also known as “Virtual Tours.” Not the same thing.
Don’t get me wrong, Virtual Tours aren’t bad per se. They are better than nothing. But most of the time when you click on it and watch, you are seeing a photo slide show of the pictures you just viewed, only set to Yanni /John Teshian muzak.
Why would you want to watch a slide show of pictures that you just saw on the MLS, only set to muzak? I don’t know. Like I said, it’s better than nothing and I certainly don’t fault other agents for using them. Just don’t call it a video.
That’s why I take pains (often) to point out that I do FULL MOTION video tours. I shoot them, walking through and around the lake homes WITH A VIDEO CAMERA.
Can you tell the difference?
I have long desired take the same property and to put a full motion video against a cheesy virtual tour, just to show the difference. But the problem is, I don’t do virtual tours. I would have to use someone else’s Virtual Tour as a comparison to my video. I’ve never done it because I don’t want to appear to be negative about another agent. Nor would another agent allow me to post their virtual tour on my blog. So I’ve never had a side-by-side comparison. Again, my goal here is not to criticize but to explain why I go to so much trouble to (attempt to) do a nice video.
Now we can.
Unit 202C in Harbor Pointe is one of my current listings. Therefore I have a full motion tour of it. Coincidentally, I had the same unit listed back in 2006. So – for illustrative purposes only – I have gone back in time and grabbed my pics from the initial listing. Nobody should get their feelings hurt – these are my old pics taken with my old point and shoot. No wide angles, no nothing.
I have created a typical Virtual Tour, and will let you be the judge.
Which one do you like the best? If you were a buyer, which gives you more information? Context? Makes you want to take the next step?
If you were a seller on Lake Martin, which would you want to be used for your home, lot or condo?
Here’s the typical slide show. Now, PLEASE keep in mind – I DON’T DO THESE! It’s for illustrative purposes only! You may want to turn your speakers down a bit – Yanni doesn’t allow any voice overs to mar his sultry Virtual Tours’ insomnia fighting tunes.
What did you think?
Next, here’s the full motion video tour that I did for this condo, and also one I did a few years ago about Harbor Pointe in general. Turn your speakers back up - you can hear a narration description.
How about it? Can you please vote below?
You won’t have to give any personal info. It’s completely anonymous.
Create your free online surveys with SurveyMonkey, the world’s leading questionnaire tool.
Lake Martin Homes for Fifty Cents on the Dollar?
A Lake Martin Foreclosure Update
If a cliche gets repeated enough, it becomes empty and loses all meaning. Every male whitetail that we see on the side of the road – especially during hunting season – is an 8 point buck. I’ve never heard different – “Dude, I was driving home last night and I saw this huge 8 point.” Never a 6. Or “I’m not sure.”
Almost every police briefing I’ve ever seen opens with “At this time” and repeats it several times. “At this time we are searching,” or “At this time we are asking,” or “At this time we have in custody.” Of course it is at this time.
“(So and so is) here for the right reasons” – you hear this a lot during recruiting season. Coaches are always so happy because every single player that committed did so “for the right reasons.” All their coaching staff is there “for the right reasons.” Consider the opposite – how helpful would it be to announce that you plan to NOT recruit kids who want to be there for the WRONG reasons. You also hear it a lot on these silly reality shows like the Bachelor. I am sure that you, dear intellectual reader, do not stoop to watch such drivel, so I will let you know that I have heard that every single bachelor since Season One is in earnest search for ladies who are “here for the right reasons.”
That’s a long intro to get to Lake Martin foreclosures.
I bring in these cliches at this time for the right reasons.
Twice this week I have heard a Lake Martin foreclosure cliche. Buyers often ask:
Aren’t Lake Martin foreclosures selling for fifty cents on the dollar?”
(I could riff on the minutiae of this forever. It’s never expressed as fifty percent of anything. Or half of anything. It’s always fifty cents on the dollar. And never 53 cents. Never 47 cents.)
So can you buy a Lake Martin waterfront home for half price? My answer is: “Yes and no.” It depends on what you are calculating. Fifty percent of current listing price? Fifty percent of the original listing price? Or fifty percent of what the builder hoped it would sell for in 2007?”
I hear, “Well, I know for a fact my cousin bought a home in Tallahassee last year, and he told me it sold for fifty cents on the dollar.”
Pause the conversation – let me say here that I cannot blame a buyer one bit for wanting an extremely good deal. If my cousin told me this, or if I saw it on the Today show, I would get my hopes up too.
My job as a responsible Lake Martin real estate agent is to help buyers gather accurate information. I don’t ask these questions to cross examine or doubt them, but to examine the information from which they are making assumptions. Once I start asking questions, if they are working with a real world example of their cousin (instead of just the Today show), the more questions I ask, the more realistic it gets. “Well, he bought his foreclosure in Mediumburg for 150,000 and I know that’s different than Lake Martin. Well, yes, the listing price from the bank was only $200,000. But three years before that, the builder was asking $300,000.”
OK – I see. In a certain manner, I can see the fifty cents on the dollar with that example. Furthermore, I can point to many examples like that with Lake Martin foreclosures on waterfront homes. But, if a waterfront home has already been foreclosed upon, it is pretty rare to sell for fifty percent of the current listing price.
I suppose I could, if I wanted, advertise similar deals going on in the Lake Martin real estate: Lake homes for 50% off! I would have to put in real tiny print “As compared to the wishful thinking listing price of 2007.”
(I can think of several bank stocks that I used to own that I wish still would sell for what they did in 2007.)
That’s why, whether I am helping buyers or sellers, I try to help them concentrate on today’s prices. Today’s situation. Forget yesterday. It doesn’t matter if you are trying to buy a foreclosure, or competing to sell against one. It’s all the same.
Buyers want a good deal. Same as always. Sellers want the best deal for their home. Same as always.
The Lake Martin real estate market is still seeing some new foreclosures on waterfront homes, condos, and lots. There hasn’t been a flood, or a second wave, or anything like that. Taken as a percent of market, we still don’t have as many foreclosures as compared to the rest of the nation.
The foreclosures, short sales, and conventional sellers that we do have on Lake Martin are enough to effect the market, though. Supply and demand.
Would You Like Our List Of Lake Martin Foreclosures?
Click here and fill out the form.
Do you own a waterfront home, lot, or condo on Lake Martin, and are wondering what it might be worth? Contact us here or at 334 221 5862 and we can work you up a free, no hassle, no obligation Comparable Market Analysis.
6 Tips for Successful Lake Martin Home Inspections
You’ve signed a contract to buy the Lake Martin waterfront home of your dreams (woo hoo!), and now you’re interested in having a home inspection. Home inspections are usually pretty straightforward deals, but in a rural, waterfront market like Lake Martin, sometimes there’s a little more to consider.
Watch the video below, and I’ll give you 6 tips for a successful Lake Martin home inspection . Hopefully, this will help you really get to know the Lake Martin property you are about to buy.
In short (for the ADD), here are my home inspection tips:
1) FSBOs – have an inspection before you put your home on the market.
2) Call a sea wall contractor to inspect sea walls – home inspectors may not be certified in this area.
3) Contact Alabama Power Shoreline Management to inquire about changing the structure of an existing dock. They permit all dock construction at Lake Martin.
4) Call an irrigation contractor to inspect wells and pumps that pull water from Lake Martin for irrigation. Home inspectors do not typically inspect these.
5) Call a dock building company to inspect your docks and floating docks.
6) Call a septic tank installer to inspect your septic tank. Most homes on Lake Martin rely on individual septic systems.
What about you, Dear Reader?
Do you have any tips from your home inspection? Let me hear about them. Leave a reply and comment below. Lake Martin is such a huge place, surely there are more than 6 tips!
I Budget 45 Minutes Per Lake Home
I was talking to a buyer from out of state the other day. We were planning his trip to Lake Martin to look at some homes for sale. We have spent a lot of time talking on the phone, and he has spent time on the computer, going through homes and looking at pictures and video online. We have narrowed down his choices from 30 to six waterfront homes.
Then he asked, “How long will it take us to go through and see these?”
I budget about 45 minutes per home.
Why? Two reasons:
1. Lake Martin is big
This may be obvious. Lake Martin has about 770 miles of shoreline. It stretches over 3 of our central Alabama counties. Sometimes it takes 45 or 50 minutes just to drive from one end of it to the other. Naturally, you have to factor in some drive times. In fact, if some buyers want to see as many as 10 or so homes, and if they are spread around Lake Martin, I will suggest that they break that up into two different days. This is why smart buyers make thorough use of my listing videos, pictures, and even private video tours to cut their research time down drastically.
2. Lake Martin is rural
That may be why you are coming here. But most Lake Martin “neighborhoods” are only loosely defined. There are no long rows of tract housing that you can walk door to door to door. Many are barely connected by county roads, so the going can be slow. But, like I said, aren’t you coming here for a slower pace?
As you can see, travel time is a big reason it takes 45 minutes per home. Another is that you really have double the factors when you look at a waterfront home than you do on a “town” home: the inside, and the water.
The Inside
It takes a while, especially when every home is different. Lake Martin doesn’t have any areas where the same builder has gone in and built 50 homes, each with slight variations. These homes were built, one by one, by different builders, for different owners with different tastes. Vive la différence.
How do you get from the kitchen to the lake? If you’re talking in the back of the home, can you hear it up front? Questions like these can only be answered on site.
The Water
Another obvious point, but the water is hugely important. You have to judge each home or lot based on fuzzy criteria like view, privacy, depth, and potential. Due to changes in topography and landscaping, this can vary widely home to home. even if they are neighbors.
Advanced Showing Calculus
I tweak my formula slightly based on the weather, time of year, and who all is coming with us. Are you bringing kids who will want to swim at every stop? Or Gammer and Gaffer that will want to stop at every c-store for a break? Have you ever been to the lake or are you a veteran? Here’s a sure sign the showings will be slowest, but most fun: are you bringing three or four friends along, with refreshments?
My algorithms are private, and patent pending. The only way you can see if I schedule you up or down from 45 minutes is to contact me and make an appointment!
