Neighborhood Spotlight: The Landing at the Rock on Lake Martin

The Landing at the Rock is a waterfront development on Lake Martin.  It was formerly called Karis Park, and is across the water from another Lake Martin development: The Village at Lake Martin. Both of these neighborhoods have a central-eastern lake location.

I shot this video from The Village to give you an overall look at the neighborhood.  I’m not the listing agent for The Landing (Butch Billingsley is), but I can help you find a home in this neighborhood, or any property in the Lake Martin Area MLS. Just give me a call or contact me using the “Contact” tab at the top of this page.  I’d love to help.

Enjoy the tour!

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Lake Martin Lot Buyers – An Interesting Trend

I lake  martin lot salesam about to list a new waterfront lot for sale on Lake Martin.  In the course of researching for every new piece of real estate, I run the numbers on similar sold property to see if I can spot any trends.  I must admit I was surprised to realize that:

Lake Martin Waterfront Lot Buyers Are Sticking in the ‘Hoods

From January 1, 2009, to June 20, 2010, 23 waterfront lots have sold on Lake Martin. Of those, 14 are located inside the higher end neighborhoods, mostly those developed by Russell Lands.  Check it out:

6 – The Ridge 6/23 = 26% of total sold

4 – The Preserve at Stoney Ridge (not Russell Lands) 4/23 = 18% of total sold

2  Trillium 2/ 23 = 9% of total sold

2 – River Oaks – ditto

If you add those up, that’s about 61% of lots sold are in these formalized neighborhoods. Before you are tempted to think “big deal” – consider this: as of this writing, there are 179 waterfront lots for sale on Lake Martin through the Lake Martin MLS.  At our current sales rates, that is about 11 years’ worth of inventory.

The Ridge 31/179  = 17% of total for sale

The Preserve at Stoney Ridge (not Russell Lands) 11/179 = 6% of total for sale

Trillium 6/179 = 3% of total for sale

River Oaks 14/179 = 8% of total for sale

200438021-001Did you see that?

These Lake Martin developments are selling at at least double, sometimes triple of their expected rates from the sales pool. Hey, no one should be bragging at these slow sales numbers overall.  But let’s at least acknowledge who is getting it done.

If You Own a Waterfront Lot – 2 Things to Take Away From This Post:

1. 11 years’ worth of inventory is still an extreme buyer’s market – that means, at current sales rates, if nothing else came on the market, it would take 11 years to sell all that we have for sale on Lake Martin right now.

2. You must know your competition – if you are outside of a Russell Lands neighborhood – you must market to those who are more likely to buy your lot.  We have over 700 miles of real estate around Lake Martin and only a tiny fraction are inside The Ridge, Trillium, Willow Point, etc.  In other words, there are great lots inside their neighborhoods, but there are also tons of great lots outside them. You (or your agent) must be able to verbalize the selling points of your specific lot to find your perfect buyer.

If you need help, please contact us at this form or the email address at the top of the page. We would love to talk to you about your lot.

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Lake Martin Home Sales Still Strong In May

Waterfront home sales on Lake Martin, Alabama continue to look good.

Through the Lake Martin MLS,* 21 waterfront homes were sold in May 2010 compared to 22 in 2009, 14 in 2008, and 23 in 2007.

Here is an associated chart that shows monthly waterfront homes sales on Lake Martin since 2007:

lake martin home sales thru may 2010

If we take a look at the cumulative results, Lake Martin real estate fans will see that 2010 is still tracking way ahead of last year and 2008. I think 2008 was the bottom for the Lake Martin real estate market, so I certainly expect it to be beating 2008.

I am a firm believer that the leading trend statistic to watch in real estate, Lake Martin or otherwise, is comparing this month’s sales versus the same month of the prior year. Therefore it gives me a little pause when I see that May 2010 lost, albeit by one waterfront home sale. Even with sales in the twenties, though, I just don’t think that number is too statistically significant. In other words, one – schmone.  It was pretty much a tie.

Now, if we see that June ’10 loses to June ’09, we may have spotted a trend here. But from what I am seeing on the market now, and the level of sales activity that has spiked up, I don’t think that will be the case.

How Are Prices Trending?

I think that prices are still under a lot of pressure.  There is still a lot of waterfront homes for sale on Lake Martin, and, despite the sales momentum, prices are kept low.  This is evidenced by the silence at the same old overpriced homes, while the homes that come back on the market with reduced prices get the first attention of buyers.

Here is a graph of all of the waterfront homes for sale right now on Lake Martin:

Influence of the Oil Spill

Another question I get a lot is what, if any, influence is there of people fleeing to Lake Martin property as a reaction to the oil spill in the gulf?

I think the answer is – it’s still too early to quantify the impact on sales. True, I have had several new buyers to call me that were on the fence considering beach  vs. lake and they say this has swayed them, but they haven’t bought yet.

I have noticed a marked increase of people calling me about short term rentals on Lake Martin.  I guess they canceled their beach condo rental and are looking for a substitute.  I don’t handle rentals so I always refer them to others.  I must admit my random rental calls have doubled.  Will these people fall in love with Lake Martin, and then decide to buy?  Who knows.  I can’t imagine that it hurts the lake.

Let me say this, I know a lot of really good agents all up and down the Gulf Coast and I hope this doesn’t affect them too drastically.

Looking Forward

We are still relatively early in the sales season at Lake Martin.  The crucial months of June, July, and August will really tell us how serious 2010 waterfront sales are. It’s simply too early to guess.  Praise God, I have been twice as busy as I was this time last year with buyers and sellers.  I am sure other agents must be experiencing the same things, and this leads to more real estate sales on Lake Martin.

Related Posts:

Lake Martin Real Estate Sales 2009 – Waterfront Lots
Lake Martin Real Estate Sales 2009 – Year In Review
Lake Martin Real Estate Sales 2008 – Year In Review
Lake Martin Real Estate Sales 2007 – Year In Review

All Lake Martin Market Reports

(*)Disclaimers: All of the above info was taken from the Lake Martin Area Association of Realtors Multiple Listing Service. Accuracy is not guaranteed but deemed reliable. The above does not include sales by FSBOs or developers that sell privately and not through the MLS. But, I do think that the above represents a very large majority of all sales on Lake Martin.

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Open House Video Tour: 257 Curry Point on Lake Martin

Here’s another Lake Martin waterfront home for sale!  You might not know it from its street address, but this lake house is something of a landmark.  If you’ve been to Chuck’s Marina by boat for pizza, you’ve probably noticed this modern-looking house sitting out on a point.  Now is your chance to see 257 Curry Point up close.

A lot of these open houses are during the week, and many of you just can’t get there.  My goal is to film as many as I can, so you don’t miss out!  This is not my listing – it’s Ellen Venable’s of RE/MAX.

Enjoy the tour and call me if you’re interested in any home in the Lake Martin MLS.

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Open House Video Tour: 112 Riverbend Circle on Lake Martin

Here’s another waterfront Lake Martin home for sale! 112 Riverbend Circle is near the River Bridge on Highway 280 – close to Auburn, Alexander City and Dadeville.

Since many of the Lake Martin open houses are held during the week (and many of you are out of town and working), I video them so you don’t miss out.

This is not my listing, Mandi Durr is the listing agent. She had a nice open house and some delicious food!

Enjoy the tour and contact me if you are interested in seeing ANY home in the Lake Martin MLS.

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2010 A Win So Far For Lake Martin Real Estate

The Lake Martin waterfront real estate market is rather seasonal, as you may imagine.

Most of our market’s sales happen between March and October, so when a new calendar year rolls around we must pause to see what’s going to happen when spring gets here.

So far, 2010 has seen very strong sales* of waterfront homes. The first 4 months of the year are on pace to beat 2009, and individual months have beaten the same month in the prior year three out of four times:

If you add the monthly numbers together to see how it looks versus prior years on Lake Martin, you can see that we are already ahead of the “comeback year” of 2009.

This is an early indication that buyers maintain confidence that the bottom of the market was in 2008.

However, it is still early for sellers of Lake Martin waterfront homes, lots, or condos to rejoice.  There is still a lot of inventory for sale right now.

The above graph is for lake homes, but the story for waterfront lots is even worse.  I recently calculated that Lake Martin has about 10 years worth of inventory on the market right now.  In other words, at current sales rates, it would take 10 years for the demand to absorb what is for sale right now, assuming nothing new came on the market.

The Result

The result is a rather unique time in a the natural real estate sales cycle.  The number of homes sold is ramping up.  Demand is increasing; this is undeniable. But, prices are still under a lot of pressure because there is so much for sale.

Related Posts:

Lake Martin Real Estate Sales 2009 – Waterfront Lots
Lake Martin Real Estate Sales 2009 – Year In Review
Lake Martin Real Estate Sales 2008 – Year In Review
Lake Martin Real Estate Sales 2007 – Year In Review

All Lake Martin Market Reports

(*)Disclaimers: All of the above info was taken from the Lake Martin Area Association of Realtors Multiple Listing Service. Accuracy is not guaranteed but deemed reliable. The above does not include sales by FSBOs or developers that sell privately and not through the MLS. But, I do think that the above represents a very large majority of all sales on Lake Martin.

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Video Trip: Scrushy’s Lake Martin Home From the Water

A cool $5 million will buy you the keys to the former Lake Martin waterfront estate of Richard ScrushyRichard Scrushy was the former CEO of HealthSouth. The home is now owned by shareholders of HealthSouth as partial satisfaction for a fraud judgment against him.

Interested?????

It’s not my listing, but I’d love to show you this Lake Martin landmark.

So, you’re not quite ready to write the check?   That’s okay – you can still take a drive-by “tour” by boat. If you can’t make it by this Willow Point home yourself on Memorial Day, click below for the video I shot for you.  It was such  a gorgeous day!


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Announcing Water’s Edge at Lake Martin

Lake Martin Voice Realty is proud to announce the opening of Lake Martin’s newest waterfront development – Water’s Edge.

Check out our press release video of Water’s Edge below.  Turn up your speakers a tad to hear the narration!

Located on the popular west side of Lake Martin, Water’s Edge is located at the end  of Coosa County Road 20 – just across the water from Veazey’s Marina. The homes are literally at the water’s edge, with unparalleled miles long views down Big Kowaliga, encompassing Willow Point, Parker Creek, Sand Island and all the way to Governor’s Island.


Currently Water’s Edge offers two homes for sale, priced modestly yet giving you all the modern conveniences.  So many new homes on Lake Martin are spec homes built on a design that could go anywhere.  Often, that results in a home that’s new and shiny, but doesn’t feel like a lake house.  Not true at Water’s Edge. The homes were custom designed for these exact lots by award winning architect Bryan Jones, of Jones Pierce Architects – Atlanta, Georgia.

Bryan “gets” Lake Martin – having designed many homes on the lake, as well as enjoying his own Lake Martin home in the Bay Pine area.

The site was especially challenging – given that the lots and roads were already laid out by a former developer that called it “Eagle Point.” Jones came in and started with a fresh set of ideas, namely:

* how do we design a home that takes advantage of the huge, “big water” view
* that is low maintenance
* doesn’t make you walk a million steps to get to the water
* that feels like a lake cabin, yet has modern features
* gives you privacy inside a development
* without a million dollar price tag

Just a few of the ways he found were:

* each home will have a deeded boat slip on a community dock
* creative use of space in between homes gives each home a “lakeside courtyard” for privacy
* create space inside the home with multiple uses to let a home live bigger than the square footage might suggest
* never forget that this is a lake house, with all of the form and function of the design that points to the lake

Currently Water’s Edge offers two waterfront homes for sale on Lake Martin:

* a 3 bedroom home that has approximately 3,200 +/-  square feet over 3 stories for $589,000
* a 3 bedroom bath home with approximately 2,500 +/- square feet over 3 stories for $569,000

Water’s Edge also offers eight other waterfront lots for sale, their prices to be announced at a later date.

If you are interested in getting more information about Water’s Edge, or any more details, please feel free to contact me, John Coley, at 334-221-5862 or email me at info at lakemartinvoice dot com.  I am honored to be the listing agent here, and would be more than happy to go on and on about the many cool details! So please call!

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Lake Martin Open House Video – Foxglove

More than likely, you are not at Lake Martin right now.  I am, and I love to tour open homes for sale.

This latest video is a waterfront home on Foxglove, inside the Lake Martin neighborhood of Columbine.  Columbine is a Russell Lands developed neighborhood on the north end of the lake, near highway 280.

I am not the listing agent, but, as a member of the Lake Martin MLS, I can help you if you’re interested in it (or any other property on Lake Martin, for that matter). This 4 bedroom, 3 bath home is listed for $560,000.

The listing agent is Judy Ward of ERA Lake Martin Realty. Her contact info is on the video.

By the way, if you are looking for a waterfront lot for sale in Columbine, or on that side of Lake Martin in general, please see my listing of Lot 15 at Columbine.  We recently have dropped the price to $99,900! Yes, it’s waterfront!

Please contact me if I may help.

Related Posts:

All Lake Martin Video Home Tours by John Coley – Lake Martin Voice Realty

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The Private Home Video Tour You’ll Never See

I just realized that in the last seven business days I have filmed four private home tours for Lake Martin buyers.

home tour you will never seeThey were all waterfront Lake Martin homes, but the subjects varied from a million plus dollar mansion with more than 4,000 square feet of space and several mini kitchens, to a tiny concrete block foreclosure with no A/C for less than $200k.

The potential buyers ranged from Lake Martin veterans to people I have never met, but will soon.

The common thread: I filmed private home tours, for their eyes only, and you will never see them.

Why not?

Because you never called.  Sure, you have been out on Lake Martin and driven by that home for sale and liked it, maybe even thought about calling a realtor (me, right?).

Or maybe you have been searching through the Lake Martin MLS, and seen a listing that catches your eye, and you want to see more, but don’t have time to take off work or burn a Saturday on a whim.

film setLet Me Be Your Film Crew

It’s pretty obvious – I am here at Lake Martin.  You are not.  The internet is between us.  It’s a new twist on the old concept of agents “previewing” a home, except I can send you so much more info than “it’s real nice, come on down.”

Here’s how to order your own private Lake Martin Video Home Tour:

1. You see  a Lake Martin home, lot, or condo for sale that you like – online or in person.

2. You call me at 334 . 221 . 5862 or contact me by email: john [at] coleyre [dot] com

3. I make sure that you are not a kook (sorry, I have to do it)

4. I go to the home and shoot a quick video tour and about 40 – 100 pictures

5. I post the video and pics to YouTube or Flickr or some such free site, but I restrict the viewing

6. I email you a link, accessible only by you, to the video tour and pictures

7. You watch at your leisure

8. You decide if you want to proceed any further, no hassle from me

Two of these videos resulted in offers (I will let you know if they work out).  The other two said, no thanks, let’s keep looking.

Any questions?

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