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!

At least that’s how we look at it when watching the water level rise at Lake Martin. Alabama Power obtained a variance from FERC (Federal Energy Regulatory Commission) to start raising the lake in January instead of February this year. We lake lovers have been watching closely as some of the exposed shoreline starts to slowly recede and this requires a lot of patience!

During the month of January, we have seen the lake rise 18 inches or 1.5 feet. Most of this can be attributed to rainfall. Mother Nature really is in charge of filling Lake Martin. We are all hoping for more rain – not just in the lake, but in our watershed. Our watershed extends over 3000 square miles north and east. That’s where we need the rain. The Tallapoosa River runs about 235 miles in length from Paulding County, GA to the point where it merges with the Alabama River just above Montgomery.

What can you do to help? Take your car to the car wash; plan an outdoor activity; do a rain dance! You just never know…

What’s happening at Lake Martin in December? Santa brought us a some rain and while real estate is a little quiet, spring and summer are right around the corner!  Activity on my website indicates that folks are searching for lake property now.  I’m seeing an increase in the number of inquiries and the length of time spent online. 

During 2005 and 2006, investors were looking to buy low - sell high and make a killing at Lake Martin.  In my opinion, buyers in 2008 will be purchasing properties for their own use and enjoyment.  That’s great news – new people coming to this beautiful place because they want to spend some quality time here.

Everyone wants to buy something that will increase in value – and that will still be true at the lake – but maybe not as much or as fast as in past years.  That’s ok – it’s a wonderful place for slowing down, taking it easy, enjoying the scenery, and making great memories with family and friends.  So – if you think you’d like to take the plunge…come on down – the water’s fine (or it will be as soon as we get a little more rain!)

Who’s buying at Lake Martin? According to NAR – the National Association of Realtors®, the younger side of the Baby Boomers will be driving this market for the next 10 years.

What are buyers looking for at Lake Martin? A second home for vacations and a possible retirement spot.

Where are buyers coming from? All around the southeast. NAR statistics indicate that buyers are taking shorter vacations and want something within 215 miles of their primary residence.

Why Lake Martin? It’s still affordable compared to many beach locations, and insurance is available and within reason.

This month at Lake Martin, there are 285 waterfront homes for sale (14 of these are on leased lots.) In addition, there are 61 condos and 119 waterfront lots on the market. It’s a great time to find your perfect spot on one of the most beautiful places anywhere!

Be ready! Get your financing in place first. Know how much you can spend and shop accordingly. If you see what you like and it’s in your price range, don’t spend a lot of time thinking about it. If you like it, someone else will too. Even if the property has been on the market for 6 months or more, the law of averages says that several buyers will show interest in the same property at the same time.

Be realistic! While we are currently experiencing a Buyer’s Market with lots of available properties for sale, this won’t last forever. Find and work with a REALTOR®. Don’t expect that all the Sellers are so desperate that they’ll accept a low offer. Lake Martin isn’t really like that.

I know I’ve said this before, but…

Be educated! Learn about the Lake Martin area - it is huge. You may find the perfect place that meets all of your criteria, but the location will add another hour to your travel time. If that’s an important issue, think twice. Extra driving time can get old and you don’t want to hate coming to the lake because of the trip! Most folks buying at Lake Martin are purchasing second homes and future retirement homes.

Be aware! The services you expect may not be available near your potential purchase. If you’re coming from a large city (most places are larger than Alexander City, Dadeville, Eclectic, Equality, and Jackson’s Gap!) you are accustomed to certain amenities nearby - major grocery stores, movies, pizza delivery, shopping, etc.   Lake Martin is beautiful but a significant part of that beauty is the remoteness and seclusion of its shores.

We have more waterfront properties on the market today then ever before…300 homes, 100 condos, and 119 lots are for sale on Lake Martin as of August 7, 2007 according to our Multiple Listing Service. This means that buyers have more to choose from – and they are watching to see what the market is going to do here at the lake.

If you’re considering investing, now is a great time to shop for Lake Martin property! If you’re selling, be realistic in pricing and marketing your property. You need to know what properties are selling for now – not last year. Pricing strategy is important. Aggressive marketing is vital. Internet presence is everything – most of today’s buyers shop online before they show up in person.
Whether buying or selling, get educated - review the ad magazines; study the internet; hire an internet savvy REALTOR® and ask for a CMA (comparative market analysis.). Do your homework - get the most for your money and don’t leave money on the table.

The HOBOs Board of Directors first meeting was held this week. In order to achieve some of the goals (water quality, water level, shoreline development/zoning, lake cleanup, etc.) a number of committees are being formed. Further, the lake has been divided into 12 areas. Each area needs an Area Manager to recruit new members, maintain good relations with the community, and carry out the various action plans for HOBOs.

You can help by joining as an individual, a family, a business, or a sponsor. Serving on a committee or as an Area Manager will be rewarding and not too time consuming! So go to the HOBO website or click on this link today!

Want a great opportunity to become involved in your community? Join the Lake Martin HOBOs. (Home Owners and Boat Owners) You don’t have to “own” anything to join. However, if you care about the Lake Martin area and want to participate in various activities supporting this special place, the HOBO’s might just be the way to do it!

This newly formed organization is growing larger every day. Annual dues are affordable at $15.00 for an individual and $25.00 for a family. There are also various membership levels for businesses. The next meeting will be held at 4:00 p.m. on Saturday, July 21, at the CACC Health Education Auditorium in Alexander City. If you haven’t attended any previous meetings, try to come to this one. Everyone is welcome.

Here is the Mission Statement:
The organization’s mission is to work together with home owners, boat owners, local businesses, local, state and federal agencies and others to foster long term partnerships to preserve, protect and enhance the overall quality of life of all living things in and around Lake Martin – The Crown Jewel of the South, including, but not limited to, water levels and quality, shoreline preservation, fishing, wildlife, recreational activities and the safety of all boaters.

For more information, check out the website at: www.lakemartin.org