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

The water level at Lake Martin is dropping due to the drought conditions. Currently, it is 8 feet below full pool. This presents a new look and some obstacles to everyone. The good news…beaches on the shoreline and the islands are exposed and potential buyers can get a good look at what’s in front of a particular property. The bad news…some docks are out of the water; a few boat ramps cannot be used; and there are some unmarked hazards for boaters.

The lake level is controlled by Alabama Power Company. They, in turn, must comply with certain federal guidelines that require a minimum flow rate beyond Martin Dam. Unfortunately, the Tallapoosa River and all the streams that feed it (and Lake Martin) are substantially lower because of the drought. There is less water coming in to the lake and water still must leave the lake. In addition, we have the heat factor which contributes to evaporation. All told, there’s not much we can do to change the water level this summer.

Even with lower lake levels, this is still a beautiful place -over 40,000 acres of surface area, 700+ miles of shoreline (mostly undeveloped), sandy beaches, clear blue water, bald eagles, red foxes, wild turkeys, great blue herons, coyotes, and lots more provide just the right ingredients for some terrific memories.

We have something for everyone at Lake Martin - you just have to find it…and you may not be able to do it alone.

Probably the hardest thing for first-time visitors to understand is that you can’t just drive around and see the lake. We’re in a hilly, heavily wooded area. The only time you can really see Lake Martin is when you’re driving across one of our three major bridges or parking in someone’s driveway!

What’s most important?

• Location
• Driving time from your primary residence to your lake house. To some, proximity to home is a major factor.
• Take a look at your surroundings - do you need civilization close by? If so, Lake Martin may not be for you! We’re fairly remote - and grocery stores, restaurants, etc., are not plentiful; however, some areas have more “conveniences” than others.
• The lot
• Do you want a big view?
• Can you hike up and down a hill - or is a flat lot a priority?
• Deeded or leased?
• The house -
• we have cabins and castles - sometimes the best house is on the worst lot and the worst shack is on the most fabulous point lot. The price for each may be the same!
• Deep water (or year-round water) - an issue that is often misunderstood.
• Slough or BIG water? A quiet cove or lots of activity?

Do you know about:

• Lake Levels - our water level changes
• Winter draw down
• Droughts!
• Permits
• Shoreline permitting through Alabama Power Company
• Building permits - Lake Martin extends into three counties - Elmore, Coosa, and Tallapoosa. If you plan to build or even add on, you will probably need a building permit. The county seat for Elmore is Wetumpka, Coosa is Rockford, and Tallapoosa is Dadeville.
• Septic Systems - County Health Departments issue permits for these. Aside from a few developments that have private sewer systems, homes on Lake Martin will require a septic system for sewage treatment. Depending on the lot these systems can be simple or complex.

Getting Started

• Whether you’re buying or selling: Contact a REALTOR® - we have quite a few in the Lake Martin Area.

Stay tuned - there are so many things to consider and the above items just “scratch the surface.” I’ll focus on individual topics in future posts.