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2013 Lake Martin Home Sales Year End Review

Every year I do a market report for the Lake Martin area waterfront real estate sales. It’s a comprehensive look at all of the property that is sold through the Lake Martin, Alabama, Area MLS*.  This year, the Lake Martin year end review of home sales looks quite bright. I will cover the basics below, and then in future posts I am going to go really in depth with the waterfront lot sales at Lake Martin. I took some time to really dig down into the details of Lake Martin’s lot market to see if we can glean some trends.

The last time we looked at the waterfront real estate sales on Lake Martin was back in August. We studied the market results through July 31, 2013, and found that sales were going really well. Now that 2013 is over, I thought we would take a look at the year in review.

The Lake Martin Multiple Listings Service, as always, is the database from which I draw all of these numbers. I filter out all of the non-waterfront sales, just to get to the nitty gritty, which is why these results might differ from the overall market report that you might see elsewhere, such as in the ACRE reports at AL.com, the Alex City Outlook, and Lake Magazine.

So, back to waterfront properties – how was the market at Lake Martin? How were waterfront home sales in 2013?

Lake Martin Waterfront Home Sales 2013

lake martin alabama waterfront home sales 2013 chart

Blistering, in a word. If you recall from July’s sales totals, the year was going well for waterfront home sales, and especially well for lot sales. That trend continued through the year’s end.

In the twelve calendar months of 2013, an eye popping 263 waterfront homes were sold in the Lake Martin MLS. Once again, the current year beat the prior year in terms of number of homes sold. Many of us in the real estate industry feel that beating the prior year is per se evidence of an improving market. Lake Martin is so very blessed to have done that every year since 2008. This year beat 2012 by a whopping twenty-four homes, as 2012’s waterfront sales total was 239 homes. Before you are tempted to think, “Big deal, John, it’s only two more a month,” I ask you to consider the percentages. Twenty-four more homes represents an increase of about ten percent over 2012. 2012’s sales total of 239 homes was itself a 15% increase over 2011. When you step back and look at these increases, it even surprises me that in the last two years our market has increased homes sold by twenty-five percent. What business would scoff at that?

How does this year measure up to posterity? Great question. A close look at the Lake Martin 2013 market’s total of 263 homes sold is the best on record other than the 281 homes sold in 2005. That means that we were only about seven percent from the best sales year ever in terms of numbers of waterfront homes sold. If the sales trend of the past two years continues, we project to sell about 294 homes on the lake in 2014.


Lake Martin Home sales 2013 versus prior years

Lake Martin Waterfront Lot Sales 2013

If waterfront home sales were blistering in 2013, then I guess waterfront lot sales were surface-of-the-sun hot.

This past year saw 71 waterfront lots sold by agents at Lake Martin. Consider that 71 is almost double of what was sold in 2012 – and 2012 was a great year. Plus, it dwarfs years like 2009 when only 19 were sold in twelve months. It is truly remarkable to see the leap our market took for waterfront lots. Another business that lot sales has really affected is construction. Anecdotal evidence shows me that general contractors and subcontractors are busy again. I ate lunch on a random chilly Tuesday at Oskar’s – and the place was packed with people in the building trade.


lake martin waterfront lot sales 2013

I have no idea how many of the lot sales in 2013 were made by buyers that intend to build spec homes to sell. I guess we will see when July or so rolls around. I would not be surprised if twenty or so fit that category. If so, any increase in supply of homes for sale could affect lake home prices, which is the next thing I would like to address.

Lake Martin Waterfront Home Price Trends 2013

With this uptick in Lake Martin waterfront home and lot sales in 2013, a natural question is, “has this boom affected prices?” My answer is – I don’t think so.

lake martin waterfront home price trends 2013

That might not be good news for Lake Martin property owners that are hoping for a price increase. But, I really can’t call an increase until I see it. As I am a full time agent working here, I do have my gut feelings on these things. 2013, to my gut, did not feel like a year of rising prices. Then again, it’s been at least five years since a price increase so I may have forgotten what it feels like!

The above chart shows my attempt to graphically represent pricing trends here on Lake Martin, with all of the waterfront home sales recorded in our MLS. A shift forward of the entire bell curve would show me that prices have increased. I don’t see that yet. While 2013 looks like it is beginning to round out a little bit, I can’t really say it is a true price increase. Not yet, at least.

Fear not, when I see an increase or decrease, I will call it. But for 2013 my gut and the numbers line up. There was no change in pricing. If, however, my gut tells me something different than the chart, I guess I will have to go back to the drawing board to make sure this is an accurate way to consider price trends. For now, it feels and looks right.  One way that I have thought of trying to get more accurate is to break the above chart down into more increments. For instance, maybe up to $1 million I should break it into $50,000 increments instead of $100,000. At any rate, if any reader has a suggestion, please contact me and let me know.

Please stay tuned! Over the next couple of weeks I will continue to dig more deeply into the numbers of Lake Martin real estate sales for 2013.

My Call To Action

I can’t resist ending without a call to action. Are you considering buying a waterfront home, lot, or condo on Lake Martin? Do you need help breaking down the lake’s market trends to see how it affects you? Please contact us and we can help. We are full time real estate agents here at Lake Martin.

Do you own property at Lake Martin? We can help you, too. Contact us and put us to work helping you get the right price, and create the correct custom marketing plan.

Related Posts About Lake Martin Real Estate Market Reports:

Lake Martin 2012 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.

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Heads Up for LAKE Magazine’s February Issue

An almost 4,000 square foot waterfront home with a $60 monthly power bill. Really? It’s true, and  LAKE Magazine will explore Lake Martin’s first Passive House in its February edition.

If you’re a regular reader, you’ve heard me talk about it before because it’s for sale and it’s one of my listings.  So how can this home be so amazingly efficient?  Check out LAKE Magazine for the science behind the build.  Architect, Bryan Jones and Builder Paul Gouin spoke with Kenneth Boone and Betsy Iler about the theory, the materials, and the testing that goes into a Passive Home.  I took some pictures of their interview and posted them below.

If you’re looking to buy a waterfront home on Lake Martin, give me a call at (334) 221-5862.  I can walk you through this home, and any other property on the Lake Martin MLS

LAKE Magazine and Lake Martin's Passive House IMG_6238205 Old Cemetary Road Passive House Paul Gouin - 47For more info on this home, 205 Old Cemetery Road, MLS #13-1168, click here.

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Lake Martin Development Restrictions

For Lake Martin waterfront homeowners and visitors alike, the Lake Martin Forum website is a great resource.  It’s an online chat room for Lake Martin people – but not in a weird Craigslist way.  You’ll see lots of practical questions and answers: where to go, what to do, what is the best place to find something?

A great discussion took place the other week, and I thought I’d share the question asked and then my response.  I get asked questions like this all the time, so I figure it’s worth passing on:

The Question:  My lake house is on a deeded lot near the amphitheater. I recently built a covered boat lift. Last weekend I raked and burned the leaves from our beach area.  A friend of mine, who lives in a Russell development, said covenants restricted him from doing either.

What other restrictions are covered in development properties?

Development and Restrictions Lake Martin

My answer:  This is an interesting discussion. Since you are not in a formal neighborhood with covenants and restrictions, you might not be familiar with other neighborhoods around the lake.

Lake Martin is like anywhere else in that if you buy a home or a lot that is subject to covenants or easements, you have to abide by their rules. Speaking in general for Russell Lands neighborhoods, it is correct that no covered boat docks are allowed.  Examples of these neighborhoods are, but not limited to, Willow Point, Windermere, Windover, Trillium, The Ridge, River Oaks, etc. When I am showing homes or lots in a neighborhood that I know is developed by Russell Lands, I am quick to tell the buyers that they can’t build a covered boat dock. The way it’s usually written in the neighborhood covenants is something like “nothing which exceeds three feet of the highest water level will be allowed.”

Burning leaves – that might be excluded in some Russell Lands neighborhoods, but I just checked the ones I have from Windermere, dated 1973, and I can’t find anything in there that prohibits it.  Maybe in other neighborhoods it is prohibited. I don’t know. I have seen some rules in others to the effect of “only burn leaves on days permitted by fire department” etc.  (One contributor said that contacting the Volunteer Fire Department in your area is a good idea, and I agree).

The key thing is to read the rules, covenants, and restrictions for each neighborhood that you consider, before you buy. All neighborhoods are different. Also be sure to get the most updated copy, as the original rules might have been amended.

For example, this year I listed a lot of lots in Emerald Shores. Most of them sold but we have a few left. One of the first things I did as the Listing Agent was to get a copy of the covenants and architectural restrictions, plus amendments. Emerald Shores’ covenants have three amendments, all dealing with covered docks. Originally they were prohibited. The first amendment allowed them, second overturned it, and finally the third allowed it. So covered boat docks are allowed in Emerald Shores.

Development and Restrictions Lake Martin

I usually advise buyers to make their offer contingent upon buyer’s favorable review of these documents. While I am not a lawyer, my understanding is whatever is recorded is the big deal. So you can research any deed in the courthouse, and it might say, “subject to covenants recorded on Page ABC Book XYZ” – that’s when you know to go look up that in the courthouse also.

Another thing to remember is that some parts of Lake Martin are just merely areas, not formal neighborhoods. I have a page on my blog that lists a lot (not all) of them, with links to more information on each. Hopefully this is helpful.

If you’re interested in Lake Martin waterfront real estate, give me a call.  I’ll do my best to answer your questions, and I will track down the answers for the ones I’m don’t know.  I’d love to be your realtor. (334)221-5862, [email protected], or click here to contact me.

http://www.lakesonline.com/Forum/show.asp?id=157197&fid=6EB63121-22CA-4F54-A718-45B4048F320B&tid=157194&SiteID=AL001

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Lake Martin Voice Realty Featured on Best of Real Estate Video

The Lake Martin waterfront real estate market is not what most people think of as a cutting edge market. We’re a rural second home market in Alabama – dirt roads, people. Does it get any more small town than that?

But small town does not always equal podunk.  You would not believe our real estate reach.  It amazes me all the time.

Last week I received a call from John Wake in Arizona. I had no idea what it was about. Turns out, he has a website called Best Of Real Estate Video.com – where he features the best real estate video folks from around the world. Some are small, boutique agencies in rural second home markets like Lake Martin Voice. Others are huge companies like Corcoran Group in megalopolises like New York.

 

Best of Real Estate Video Lake Martin Voice

 

Lake Martin Voice Realty is very pleased and flattered to be included in such an outstanding group. Please check out the site, they have tons of interesting links out there. We especially support their policy of: “I don’t consider virtual tours to be videos so Best of Real Estate Videos doesn’t include YouTube channels that are mainly virtual tours.”

People, if a “video” is just the photos set to cheesy music, it ain’t a video. Show me some motion. Show me some context.

Anyway, please check out their link:

http://bestofrealestatevideo.com/

For me, it’s an endless source of inspiration. When I am stumped on a subject for my next Lake Martin video, I can go over there and come away with an idea in about 30 seconds!

What is also tells me is that if this guy in Arizona finds great video info about Lake Martin real estate on LakeMartinVoice.com , so do lots of other people – buyers and sellers.  If you’d like to know more about how we can serve you, give me a call at (334) 221-5862, email me at [email protected], or click here to contact me.

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Days On Market Vs. Winter Anonymity

lake martin seller vs winterThis time of year at Lake Martin creates a question for some sellers in the real estate market.  That question centers around whether or not they should keep their waterfront home, condo, or lot on the market through the winter.

Lake Martin is a seasonal, second home market in a rural community. Most of our real estate sales happen between February and November. Currently, the lake level is drawn down ten feet in the winter. It gets chilly.

So is it worth it to keep your property on the market through the winter? Or should you, as a seller, take it off of the market and let it rest, only to be reborn in spring? The tradeoff seems to come down to Days On Market vs. Anonymity. That is, if you truly want to sell your Lake Martin home, what is worse, having a higher Days on Market in the spring, or not being on the market at all during the winter?

I think it’s better to be on the market. That way your waterfront property is in the Lake Martin MLS, all other agents know about it, and your listing agent can legally advertise it. Otherwise no one knows it’s for sale.

But on this issue, as with many others, I wanted to test to see if I was a lone dissenter. I recently wrote about the subject in my monthly column for Lake Magazine. In order to get some perspective, I interviewed fellow Lake Martin agents Becky Haynie of Lake Martin Realty, Carl Hopson of RealtySouth Lake Martin, and John Christenberry of Lake Martin Voice Realty.

They agreed with me, and gave some great examples. Here’s a link to the article on Lake Magazine’s website:

Why Stay On The Market Through Winter?

I guess I am biased since they agreed with me, but I think they are great points.

If you are considering selling your waterfront home, lot, condo, or acreage on Lake Martin, we would love to help you. Please hit the “Contact Us” button below or call at 334 221 5862.

 

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The $60 a Month Lake Martin Power Bill

Allow me to introduce you to Lake Martin’s first waterfront Passive House.  It’s very likely you will love this Blue Creek area home simply because it is beautiful.  But it’s also a cutting edge bastion of energy savings that will use roughly 80% less energy to operate than conventional buildings.

205 Old Cemetary Road Passive House Paul Gouin - 47

How can this be?  It’s a 3 story, almost 4,000 square foot home with huge windows in a hot, Southern climate. There are 5 bedrooms, 4 bathrooms, and two great rooms to heat and cool year round.  Builder Paul Gouin and Architect Bryan Jones are Lake Martin homeowners themselves, and know well the needs and challenges of waterfront living.  What they have created is an awesome melding of science and art – all within steps of the waters of Lake Martin, I may add.

This home is for sale. It can be yours.

I’m the listing agent, so call me (334) 221-5862 or email me ([email protected]) for more information, or CLICK HERE to go to the 205 Old Cemetery Road listing page.  MLS# 13-1168.

So what does Passive House mean?  I’ll borrow from Bryan Jones’ blog article on the subject. He writes that a passive house has several areas of focus:

  • A Super Insulated Envelope
  • Thermal Bridge-Free Detailing
  • Air-Tight Envelope
  • Advanced Windows & Doors
  • Energy Recovery Ventilation (a constant ventilation system instead of a conventional HVAC system that consumes lots of energy)
  • Efficient Systems (water heaters, appliances, etc.)

Passive House diagram

I liked what Bryan had to say about why design like this is interesting to him.  I don’t have to be a scientist to appreciate some of the big ideas influencing homes like this:

“What is interesting about Passive House to us?

  • Pretty houses with real substance – Our passion is designing beautiful site specific lifetime homes for people in context with the surrounding environment.  Sustainability has always been one of our 10 principles that we use to create better homes.  Passive House takes prescriptive sustainability to another level backed by pure building science and performance testing.
  • Science not a check list – The Passive House design process uses energy modeling of our design and specifications to predict how the design will perform in a particular orientation and climate.  The model returns energy performance data to determine if the house meets Passive House Criteria.  A house designed to meet Passive House Criteria should perform up to 80% better than a typical structure. The process is not clouded by a point system checklist offered by LEED for homes and the  EarthCraft program.
  • Energy modeling provides data for long term decisions -The Passive House energy model gives us a tool to help our clients make design and material decisions knowing operating cost over time vs. the initial construction cost.
  • Measured results – Passive House designs uses a 3rd party passive house RATER to perform testing during construction and at project commissioning.  We can verify for our clients that the high performance building that they paid for is performing as designed.
  • Passive survivability – What would happen if your house had no power available?  Designing a home for as low energy usage as possible along with photovoltaic panels means you could potentially run the house “off the grid” if required by inflated energy cost or by necessity.”

Construction is nearing completion.

The home is available for showing.  If you have questions, or find this type of construction intriguing, I’d love to talk to you.  If I can’t answer all of your questions, I can hook you up with the experts. Give me a call at (334) 221-5862, email me at [email protected], or click here to contact me.

205 Old Cemetary Road Passive House - 31

IMG_5985205 Old Cemetary Road Passive House - 34IMG_5998IMG_5999Introductory video for 205 Cemetery Road on Lake Martin:

 

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Keep It Simple: A Great Cabin Gets Better

When my clients, Kane and Emily, found this Lake Martin cabin last summer, they liked the whole package.  The home felt like a lake house, the lot was flat and wooded, there was plenty of shoreline.  It wasn’t too much house or too much lot.  It was just right.

And they knew that with a little tweaking, just a little renovation, it could be even better.  It could become “theirs.”

They’ve allowed me to share their before and after pictures of the remodel of their Lake Martin home. These photos show that simple changes like removing carpet can have a big impact.  New sod and covered entry can make a home look new.  Take a look and see how they made a difference by making smart changes during the renovation project.

Outside:

Lake Martin Cabin Redo

BEFORE – The street side entrance

Great Lake Martin Cabin Redo

AFTER – a covered entrance and new landscaping

The new porch on the street side of the home is not a huge addition, but adds a more welcoming (and sheltered) spot to enter the home.  The lake side of the home is similar – small additions were made, building on what was already good about the lot.  The docks and sea wall were already there, and so was the hammock between the trees.  But adding new landscaping, a sandy beach area and a fire pit, makes this yard even more liveable, and really personalized to their needs:

Home from the water before

BEFORE – A view of the home from the dock.

Great Lake Martin Cabin Redo

AFTER – New sod and landscaping, plus a sandy beach.

Great Lake Martin Cabin Redo

AFTER: Sandy beach where a boat ramp once was.

Great Lake Martin Cabin Redo

AFTER: The view from the screened porch.

Inside:  The Kitchen and Dining Area

Inside, the changes of the redo were simple, but with great effect as well.  The floor plan remains the same, the kitchen and baths have not been radically altered.  But small changes like removing carpet make a big difference:

Great Lake Martin Cabin Redo

BEFORE: The kitchen/eating area.

Great Lake Martin Cabin Redo

BEFORE: Another view of the kitchen area.

Great Lake Martin Cabin Redo

AFTER: No more blue carpet. New lighting.

Great Lake Martin Cabin Redo

AFTER: The floors lighten the room.

Great Lake Martin Cabin Redo

AFTER: The eating area gets new lighting.

The Living Room

Here’s the living room – it was already in good shape.  Let’s face it, in a second home like this on Lake Martin, you’re likely to spend a lot of your time hanging out. Kane and Emily realized this, and moved the TV over the fireplace and brought in their own the furniture:

Great Lake Martin Cabin Redo

BEFORE

Great Lake Martin Cabin Redo

BEFORE

Great Cabin Redo

AFTER

Great Lake Martin Cabin Redo

AFTER – The TV was moved over the fireplace.

Great Lake Martin Cabin Redo

AFTER

The Master Bedroom

And finally, they removed the carpet in the lakeside master suite and it makes a huge difference!  I really had to look twice at the pictures to make sure this was the same room:

Great Lake Martin Cabin Redo

BEFORE – Carpeted master suite.

Great Lake Martin Cabin Redo

BEFORE – Door and window looking to the water.

Great Lake Martin Cabin Redo

AFTER – Wood floors instead of carpet in the master bedroom.

Simple Cabin Renovation Lake Martin

AFTER – This looks like a new room.

Kane and Emily started out with a great cabin. As a matter of fact, I liked it so much, I showed it to my wife and my dad a couple of years before this. So from ground zero, they had a really nice Lake Martin home. But, by calling this a “simple” renovation, I run the risk of minimizing the amount of thought, effort and resources the new homeowners put into this transformation – perhaps I should say “smart” renovation instead.  Kane and Emily didn’t go overboard.  Instead they played up their cabin’s strengths.  This is what I mean by “smart” and I think they hit a home run!

If you’re looking for a cute cabin with good bones, but you just can’t see past the orange shag carpet and faux paneled walls, give me a call 334  221 5862 or email me here.  Let’s talk about your dream home, let’s discuss what is really essential in a good Lake Martin home  investment (the dirt, the view, the waterfront) and what things can be changed or overlooked for the time being (the choice of counter material, the screened porch that could be bigger).  I’d love to help and I’d love to be your Lake Martin real estate agent.

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Extreme Sea Wall Repair Part 3: Completion

It’s time for the final reveal.  Much like an Extreme Makeover Home episode, Henderson and Coker Contractors have resurrected a Lake Martin seawall that was a complete fail.  This was no minor seawall fail.  This was a seawall that had fallen over into the lake and taken a lot of earth with it – and dirt is dollars in waterfront real estate.  They allowed me to tag along and film the stages of construction, and now that the water is down for the winter months, I can show you the new seawall from the ground on up.

This time of year is great for inspecting and repairing Lake Martin sea walls.  As you can see from the video below, there’s a lot more to a seawall than the few feet that are exposed during the summer months.  This is a project for the pros.  The dirt beneath your lake home is the most valuable part of your lake investment, so make sure you protect it with a strong, well built sea wall.

Did you know that sea wall inspections are not typically part of the home buying inspection process?  Buyers should contact a sea wall professional and have a separate inspection completed if they are concerned about the condition of a lake home’s seawall.

I can’t inspect your seawall, but I can help you with Lake Martin real estate. If you’re thinking about buying or selling a Lake Martin home, give me a call and let’s talk about all the factors to consider when buying or selling.  I’d love to be your realtor. (334) 221-5862

For Parts 1 and 2 of this series, click on the links below:

Extreme Seawall Failure on Lake Martin: Part 1

Extreme Seawall Failure on Lake Martin Part 2: Rebuilding

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All of the Sudden, It’s Fall at Lake Martin

Fall at Lake Martin 2013 - 05

Happy Fall from Lake Martin!

I was driving near Irwin Shoals last Friday – an area considered by many to be the northern most point of Lake Martin – and I took these pictures so you can see the fall colors that are bursting all over the Lake Martin area.

Fall at Lake Martin 2013 - 12

If you’ve never spent much time at the lake during the fall and winter, let me encourage you to make it a priority.  It’s peaceful, it’s beautiful,  and there are lots of outdoor things to do (see my hiking links at the end of this post).  Fall is a great time to be at Lake Martin.

In the real estate world, buyers are still out there looking for waterfront property.  History tells us that most Novembers and Decembers don’t have many home sales – people are just busy with the holidays, I guess. That being said, I’m about to have a new listing in the Jackson’s Gap area, and have had two other Lake Martin homeowners request CMAs today.

If you’re thinking about buying a waterfront property, give me a call and let’s discuss the year round of appeal of Lake Martin.  If you’re thinking about selling, let’s talk about ways to use your time wisely and get your home ready to market, either now or in the spring.

For a taste of the outdoor fun at Lake Martin in the fall:

Little Smith Mountain Hiking Trail at Lake Martin

All Trails App Maps the Cherokee Ridge Alpine Trails on Lake Martin

Deadening Alpine Trail on Lake Martin

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Awesome Home Pics By ReMax Around The Lake

We here at Lake Martin Voice Realty are professional real estate agents, and know good marketing when we see it. We try to be the best, but we don’t mind admitting when we see our fellow Lake Martin agents doing something awesome. Everyone should take a look at the incredible aerial photos posted on Facebook by Toni Adcock of ReMax Around the Lake. Really, this is groundbreaking. If you are reading this post from other spots around the nation, I ask you, are agents in your town going this far? Are they trying this hard? I am telling you, this is impressive:

 lake martin quadcopter shot

Toni’s husband Phil Adcock took these pictures using a GoPro Camera, mounted on a DJI Phantom quadcopter. Technical assistance and photography consulting was given by Matt Adcock of Del Sol Photography. Toni is the listing agent of 116 Hilyer Road. To contact Toni about this home, go to her website or call her at 256-234-1327.

aerial shot of lake martin by quadcopter

I am even more impressed by this because I also own a Phantom quadcopter and have been experimenting on flying it for real estate photography and videography. I need a lot more practice with mine before I am ready for the bigtime, as you can see by this wreck I had.

lake martin by air

I am convinced that using tools like the Phantom quadcopter will usher in a new level of marketing in real estate. I was inspired several months ago by seeing what some commercial agents are doing with it, and I thought it would be a natural fit for Lake Martin, thus my experimentation. Kudos to Toni and Phil for having the talent and the hard work to get it to a point that it is useful. That kind of dedication is rare in this industry and I think it is so cool to be in a place like Lake Martin where we have so many talented agents that are thinking of creative ways to help out their sellers.

Well done Toni, Phil, Matt, and ReMax Around The Lake!!!!

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