Every year, there seems to be a “popular” price range when buyers are looking for property at Lake Martin.  In 2008, the magic number averaged between $300K and $400K.  Often that price range was not realistic for buyers’ needs and wants – and they spent more.  It will be interesting to see what price ranges folks shop for in 2009.  In the meantime, here are some statistics from the Lake Martin Area Association of REALTORS® Multiple Listing Service:
 

In 2008, 131 waterfront homes sold on Lake Martin:
Under $500K – 65 sales
$500K to $1M – 36 sales
Over $1M – 24 sales
** 6 sales did not publish the price
 

Today, 382 waterfront homes are for sale on Lake Martin:
 Under $500K – 188
$500K to $1M – 135
Over $1M – 59
 

For those thinking of purchasing waterfront property at Lake Martin, things couldn’t be much better.  There are many places to choose from, interest rates are really low, and sellers are a bit more likely to negotiate.  If you don’t have a REALTOR®, find one!  Don’t miss out on a terrific opportunity to own a little piece of heaven at Lake Martin.

The holidays are upon us and the shoreline at Lake Martin is beginning to show.  Those who love this lake are especially thankful for the high water levels throughout the spring, summer and fall.  Alabama Power Company has done a great job of managing and maintaining the lake level this year and their efforts are appreciated.

According to news reports, the folks at Lake Lanier, Lake Allatoona and Lake Hartwell will suffer extremely low water levels for years to come as the City of Atlanta continues to draw from these reservoirs.  When added to the drought conditions in the southeast, this is going to be a bad situation for the foreseeable future.

Lake Martin will continue to be the area of choice for the residents of Georgia whether for a short vacation, a second home, or retirement – just as it was for me.  We have 700+ miles of shoreline –much of it is undeveloped; the water is clean and deep, people are friendly in this “small-town” atmosphere, and it just feels like home.

So – enjoy your turkey and football games – then Come on Down! 

Be sure to take a look at the August issue of Lake Martin Living for a great article on one of my listings (page 13). The article features a great story about the owners and fabulous pictures taken by Matt & Sol of del Sol Photography.

You also need to see the August issue of LAKE Magazine featuring my listing in The Preserve at Stoney Ridge with more photos by Matt & Sol of del Sol Photography! Both of these magazine issues are available online. Living at Lake Martin is wonderful - and in homes like these - it’s awesome!

Lake Martin is all about families. We were lucky enough to have both of our children and their spouses here for a few days last weekend. What a pleasure to see them all enjoying the lake as much as they did as kids. There was plenty of time for swimming, skiing, digging for fishing worms, catching fish, getting some sun, and cooking out.

Speaking of lucky enough…we were fortunate to find our place at Lake Martin when our kids were young. We came every weekend winter and summer and we spent hours fixing up our old cabin. Anyone with a second home knows that one requirement is having 2 of everything (tools, groceries, and more) – one for the lake and one for the primary residence. Of course, we usually managed to have both hammers and bottles of ketchup at the same house!

The kids did help with all our projects – but they also had time for fun. Fishing, swimming, building forts on an island, building a raft out of old styrofoam and deck boards, learning to ski, and more. They also learned boating safety, good lake manners, to wave at other boaters, and always to stop and help folks with a problem.

We retold lots of stories and laughed a lot! Memories are as good as the real thing!

A recent article in a Real Estate magazine really said it all – paraphrased: …we feel younger than our age; we weigh less than the scales indicate (if we ever got on them); we feel fine – so there’s no need to go to the doctor…In terms of real estate prices in the Lake Martin area, we may all need a reality check!

Sellers naturally believe their property is valuable. Here’s the bad news - it’s only worth what a buyer will pay. In 2007, sales at Lake Martin were not as brisk as in previous years and many blamed that on the low water levels. However, in 2008 the lake is nearly full, potential buyers are coming to the lake, but sales are still not as brisk as in the past.

In my opinion, buyers are shopping but they are “kicking the tires” and looking for “a steal.” Everyone wants that! Some prices have adjusted downwards, but we’re not seeing any “fire sales” and foreclosures are pretty rare here.

If you’re a seller, consider dropping your price by as much as 5%. If the buyers are looking for a “buyer’s market” why not give it to them? Otherwise, recognize that your home may stay on the market a little longer. If you’re a buyer, make an offer – it might just be accepted!

Most Important – buyers and sellers need to consult with their Realtor®. Both sides need to make sure their expectations are realistic! In the Lake Martin Real Estate market, we need to remember:

Buyers don’t have to buy and Sellers don’t have to sell.
               

Have you noticed letters behind the names of some real estate agents? These 3 and 4 letter codes represent various designations and certifications earned by a REALTOR®. They also signify a substantial amount of time, effort and expense on the part of the individual who attained these letters. Here are some that you may have seen:

ABR Accredited Buyer Representative

CRS Certified Residential Specialist

GRI Graduate Realtor Institute

One of the newest certifications is RSPS – Resort and Second-Home Property Specialist. According to the National Association of REALTORS®, this is a course designed especially for the resort, retirement and second-home professional who understands the unique needs of this market. Today, 1 out of 3 homes sold is a second-home in vacation, recreation or investment markets. If you’re searching for an agent to assist you in buying or selling property at Lake Martin, check out the letters behind his or her name!

You can tell that summer is nearly here! The roads are busier, the grocery stores are busy with folks buying supplies, the gas stations have more cars and boats than usual, and the restaurants are full! Where did all these people come from?

We expect this holiday weekend at Lake Martin will be one of the busiest ever. The Marine Police will be out in full force helping to keep our waterway safe; the marinas are stocking up for the crowds; and the many visitors to our area are looking forward to a great weekend.

The weather should be great – a few afternoon showers – but otherwise, sunny skies. The lake is full and as clean and clear as we’ve ever seen it. So, ENJOY this beautiful weekend in this wonderful place. And, when you have the chance, stop to remember those that have given of themselves so that we could be here on Memorial Day. I’ll be thinking of my Mom & Dad who were both pilots in World War II.

Several years ago, I heard someone say that Lake Martin isn’t really the place for condos and they’ll never catch on here like they have at the beach. Wrong!

We have several condominium complexes on the lake and these appeal to a certain group of buyers who don’t want to do any chores such as cutting the grass, repairing the dock, patching a leaky roof, etc. They just want to enjoy the lake! In addition to having a place that requires little upkeep, some buyers are interested in earning a few dollars in rental income. Many of the condo units on Lake Martin may be used for short or long-term rentals; however, some do not allow any rentals, so be sure to investigate all the restrictions if you’re in the market for a condo.

One of the prettiest locations on Lake Martin is Crowne Pointe. By road, it is off Highway 50 to Centerport Road, to Silver Hill. By water, it is on Blue Creek between Cooper Branch and Curry’s Point. There are 5 buildings and each contains 18 units. Each building has 3 floors, an elevator, and storage space. Crowne Pointe will feature 2 swimming pools for residents and every unit will have a boat slip. These units may be rented on a weekly basis. You may choose from the following: 2 bedroom, 2 bath, 3 bedroom, 3bath with a wrap-around deck, or 3 bedroom, 3 bath including a loft. Prices range from $345,000 to $650,000. The views are to die for, and summer is almost here. So, if a condo is in your future, Crowne Pointe is just the place!

to fill Lake Martin following the drought of 2007?  Well, they were wrong! 

The lake is nearly full, and it looks like life as we know it has returned to normal.  Local restaurants and businesses are already seeing an increase in the number of customers, and lots of boats and jet skis have been out on the water.  If you doubted Mother Nature, come take a look for yourself.  We still need more rain to keep the lake level high, so keep up the rain dances.  And, when you have a chance – thank Alabama Power for managing the lake levels so that we could reach full pool so early this year.  All that to say - now’s a great time to look for waterfront property!

Lake Martin is on the rise…and while you may have heard that the real estate market is down, buyers are still coming here to find the perfect spot on the lake – whether it’s a cabin or a castle.  Hopefully, your lake place is just around the corner, too.
 

If you’re just beginning your search, here are some things to remember:
·        Get your financing in place – mortgage lenders want your business but some of the lending guidelines have changed.
·        Consider what’s most important to you – the lot or the house – you ll probably find one or the other – but not both!
·        If this is a second home for you, is the drive time a big deal?
·        Shopping on-line is great, but, find a REALTOR® you’re comfortable with to assist you with all the details of purchasing property.
·        If you really like a particular property, don’t wait – someone else will like it too!