Archive for July, 2008

Guess What? Nothing Happened At Lake Martin Auctions

July 29th, 2008 categories: Buying Tips, Investor Tips, Lake Martin, Seller Tips

Recently two auctions were held at waterfront property on Lake Martin. A quick check with each of the auction companies revealed that neither homes sold for the reserved prices. Both remain unsold at post time.

Here’s the lowdown:

1. 284 Lakeview Drive - The “Waterfall House” at Willow Point - This auction was held on July 20, 2008. I wrote this post before the auction to spread the word. I haven’t talked to anyone that attended, but I spoke to a representative at Albert Burney Auction Company. He said that neither the lot nor the home met the reserved price that day and therefore did not sell at auction. He did say that both properties were available for sale in case anyone was still interested. If you (or someone you know and love) are, let me know.

2. 211 Farm Loop Road - Wind Creek Farms- This auction was held on July 26, 2008, by Deanco Auction Company. It had a published reserve price or minimum bid of $300,000. Apparently that amount was not met because a representative of the company confirmed that it also failed to sell at auction date. Again, if you’re still interested, let me know. I went through this home about a year ago (when owned by a previous family) and have tons of pictures.

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These recent strikeouts remind me of last summer’s Lake Martin auctions. You may remember when another auction company had a big deal where they tried to auction 3 different waterfront homes on the same day. None sold. Contrast that with 2007’s auction at Harbor Pointe condos, where they sold about 20 units in one day.
So why are waterfront home auctions not catching on at Lake Martin? Is it:

A. The buyers are reluctant to pay the typical 10% auction commission on top of their bid price?

B. It is too much of a hassle to view the homes at the times appointed by the auctioneers?

C. Sellers are placing too high of reserve prices?

D. Local Realtors are digging defensive trenches around Lake Martin?

E. Buyers are unrepresented (by agents) and therefore uninformed of value?

F. Or a combination?

What do you think, dear reader? If anyone out there has some input, or would at least like to vote on my suggestions, please leave a comment below where it says “Leave A Reply.” If you can’t see that, hit the Continue button and then you should be able to see it.

I am really curious as to what others might think. As a “professional” (I know, eyes rolling) I might be missing something here, so let me hear some other opinions.

Related Posts:

Register Now For Auction At Willow Point
Results of Harbor Pointe Condo Auction

Spoken by John Coley | Discussion: 10 Comments »

4 Ways Lake Martin Realtors Are Like Power Steering

July 27th, 2008 categories: Buying Tips, Lake Martin, Seller Tips

Is driving all about the steering? No.

Then why should Lake Martin real estate agents think that a transaction is all about him or her? It always puzzles me when real estate agents let their egos become part of the buying and selling process.

It happens all of the time at Lake Martin, as I am sure it happens everywhere. Now, I am not talking about good ole competitive spirit or clean hustle. I am talking about the instances where the agents seem to think that if wasn’t for them, the whole transaction wouldn’t happen at all.

Here are 4 ways Lake Martin realtors are like power steering:

1. Not essential - people have been selling each other land since the beginning of the deed. I am sure that the first horseless carriage was hard to steer, but possible.

2. But helpful- there’s no denying that it’s physically easier to drive with power steering, and a good real estate agent, focused on only your needs, should make buying or selling your Lake Martin home easier by doing things like previewing homes, meeting the inspector, finding the right subcontractor, or researching in the courthouse - whatever it takes to make it easier on you.

3. Safer - It’s safer going around a curve when you don’t have to muscle the wheel by yourself, and a good realtor will point out the possible pitfalls in dealing with Lake Martin real estate. There are plenty of oddities about Lake Martin real estate - valuing your lot, waterfront easements, leased lots vs. deeded lots, just to name a few. Are you prepared to know which questions to ask?

4. More efficient- power steering smooths out all of the minute under and over steering while you drive. The result is a smoother, straighter ride. In the same way, a good real estate agent will help Lake Martin buyers skip the properties they wouldn’t like anyway and concentrate their time on the few real possibilities. Similarly, Lake Martin sellers can avoid all of the common mistakes that sellers make when marketing their lake property.

I am far from perfect; in fact I’m just an old chunk of coal. Sure, I can’t help but get emotionally and personally involved in a lot of cases. But I constantly remind myself that it’s not about me! It’s about them! It’s my job to help make my clients’ experiences fun, safe, and more efficient.

If I can’t prove to a Lake Martin buyer or seller that I can’t save them time and money, then I can’t look them in the eye and expect them to hire me!!

Related articles:

Lake Martin Sellers - Don’t Pick This Realtor
5 Mistakes Lake Martin Buyers Make

Spoken by John Coley | Discussion: 1 Comment »

Take The Road Less Traveled

July 21st, 2008 categories: Dining, Entertainment, Lake Martin

Recently around Lake Martin (online and offline) I have heard a lot of talk about eating at the lake. Some were bemoaning a lack of restaurants, others were extolling the virtues of cooking at home.

Still others admitted wanting someone else to do the cooking, but when they get down to their Lake Martin home on Friday night, they’re too tired to go out.

One solution is eating some of the great cooking from a local - The Dirt Road Gourmet. They pre-make casseroles and such, freeze them, and sell them through local retailers. Click here for their website and product list. Also you can click here for their list of retailers.

I pick ours up from Nail’s because it’s close to my real estate office and family’s cabin. They are really good, and really easy. Before you leave for the weekend, buy one, keep it in the freezer. The next Friday, when you get back down to the lake home, pop it in the oven while you’re unloading, it’ll be ready to eat when you are.

I highly recommend the Dirt Road Gourmet as a balance between fixing it yourself and going out. Plus, you can feel good about supporting a local business.

Spoken by John Coley | Discussion: 2 Comments »

My Ode In Praise Of The Window Unit

July 15th, 2008 categories: Lake Martin, Lake Martin Living

Lake Magazine - Lake Martin Edition - has a section called “My Lake Martin” where (apparently) they allow just about anybody to submit an article about the lake. They were kind enough to print one I submitted.

I was inspired to write an ode about a window unit air conditioner that we used to have in our cabin. Judging by its girth and sound, it had to have been made in the 1940s. Its brand name was “Kelvinator.” That’s what we called it, as in “it’s hot in here, turn on the Kelvinator.” When things are around that long, they deserve individual respect.

It’s kind of like how we refer to one of the couches as “The Herculon” as in q: “where is mainsail?” a: “stuffed behind The Herculon” or q: “why are you sweating so bad?” a:”it’s The Herculon - laying on it makes me sweat.”

Anyway,I digress.

Lake Martin cabins and window units are inseparable in my mind.

Here is the ode in full, with the pic they used:

and here’s the text of the ode:

An Ode In Praise of the Window Unit

My Lake Martin is a realm ruled by the window unit air conditioner.

Like polyester, it is a reminder of that which once was a point of pride, and is now no longer en vogue.

Oh, woe, and lastima to those who have nay slept below your frigid roar, o humble window unit!! While now your presence draws scorn from some and mockery from the rest, I weep in melancholy for the children of centralized systems who will never know your utility and hypnotic effects.

When the lake melted the zinc oxide from our noses and allowed sunrays to redden our skin, it was you, dear window unit that blew icicles to ease our suffering. You erased our memory such that we were burned the next day and the next.

When our parents were tired of hearing our noise, they declared it “nap time” - and shoved all us kids into one room. You alone watched over us with your rhythmic rumbling machinations. If we didn’t fall asleep, like a favorite uncle you made more noise than we so that the parents never noticed.

We feared you, mighty window unit - where once you were asbestosly insulated, through service your wiring became loose, exposed, menacingly copper, always one mere spark from setting the cabin in irreversible deathly flames, yet we needed you to survive a scorching August.

Lest you take an undignified backwards fall out of your perch and into the yard, we propped you up with an old board wedged into the ground, yet you never complained. Simpering Whines were foreign to you whose hazardous lead innards percolated and spewed pre-war freon. To you, brave window unit, fretting over the ozone layer was for sissies, you had kids to keep cool.

Just as God and Alabama Power mysteriously raised the lake as azaleas are reborn, so too, you were a mystery, our beloved window unit. Each spring when we first plugged you into that Tesla coil of a socket , we wondered if you could breathe once again. Not as lovely as the dogwood, yet as reliable, you awakened decade after decade despite our lack of routine maintenance. You always shook off the leaves and dead lizards to toe the line one more time.

Window unit - Thy name was Kelvinator.

Forgive us for tossing thy corpse into the woods sans pomp or due praise.

You deserved better.

Spoken by John Coley | Discussion: 13 Comments »

Register Now For Waterfront Home And Lot Auction - Willow Point, Lake Martin

July 9th, 2008 categories: Buying Tips, Events, Lake Martin

A waterfront home and lot will be auctioned off at Willow Point on July 20, 2008.

No, it is not an auction by Russell Lands. Even though Willow Point is a Russell Lands development, this auction is by a private landowner.

The home’s address is 284 Lakeview Drive, 35010. The lot is right next door. They both will be auctioned on July 20, 2008 by Albert Burney Auctioneers.

Here are some photos of the home and lot from the water:

And the home close up:

The auction ad lists these amenities:

œLuxury doesnt even begin to describe this incredible home in one of the finest areas of Alabamas favorite fresh-water playground! Locals on the lake refer to this home as the œWaterfall House because of its prime location and picturesque setting, which includes a 175 foot waterfall leading from the 1200 gallon Koi pond to the lake.

But thats just the beginning.

Your private elevator will carry you between three levels of the home and the wine cellar below. This amazing home even has a sports room with a pool table and a saloon-type bar.

The floor-to-ceiling windows throughout the home filter 95 percent of the suns low rays with Argon filling, providing unsurpassed energy efficiency.

When youre ready to head onto the water, you can simply go down to your private docks, which are equipped with lifts for a ski boat, three jet skis and a pontoon boat. Youll even have your own diving board.

* six bedrooms
* opulent master suite with fireplace
* elevator
* 4,000 bottle wine cellar
* four car garage

According to an article about the auction in Lake Magazine, the sellers, Mr. and Mrs. Kenneth Ingram, Jr., are selling in order to scale down to a smaller home.

If you think you might be interested in the home or the lot, and would like to register for the auction, please contact me. By allowing me to register you, I can provide you with comparable sales data and analysis on the home’s and lot’s value. The winning bidder will pay 10% to the auctioneers, regardless of whether I register you or not, so you might as well let me help you research. The auctioneers will pay me a referral fee for my efforts.

If you would like to read more about Lake Martin’s Willow Point, please read this post and also this one that shows pics of Willow Point’s pool and golf course.

Spoken by John Coley | Discussion: 2 Comments »

Amenities Of The Ridge, Lake Martin

July 3rd, 2008 categories: Developments, Lake Martin, Neighborhoods

I am working with a couple of buyers in The Ridge, a Russell Lands development in Lake Martin. I always get asked lots of questions about the amenities at the Ridge, so I thought I would shoot a video to show some of them.

Basically, if you own a home, a lot, or a town-home in the Ridge, you have the right to access all of the amenities, like the pool, the Ridge Club, the tennis courts, walking trails, boat launch, and Beach Club. The Ridge Marina is public, but of course easily accessed by Ridge owners.

Here is the video:

I should have shot more footage of all the walking trails and sidewalks of the Ridge, a lot of people like to use them. Maybe it’s material for a future video.

Properties for sale in The Ledges at The Ridge:

276 Ledges Trail (click here for property description)

here is a video tour of the townhome:

Related Posts:Lake Martin Real Estate Spotlight: The Ridge
Lake Martin Real Estate Spotlight: The Ridge Update

Spoken by John Coley | Discussion: 1 Comment »