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Alexander City, AL Real Estate News

By John Coley
(Coley Real Estate)
Whether you know it or not, you are a Lake Martin HOBO!Some local Lake Martin area folks have organized the Lake Martin Home Owner and Boat Owner Association - and called it the Lake Martin HOBOs.  You don't really have to be a waterfront home owner or a license toting boat owner to be a member.  So even if you are merely a fan of Lake Martin, you can join today!  Coley Real Estate and the Lake Martin Voice are proud sponsors of the Lake Martin HOBOs. Why a Lake Martin HOBO?Click here to read why......
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Lake Martin Voice - your blog for Lake Martin real estate and area information - was honored recently by the Wall Street Journal online. On June 30, 2007, the print edition of the WSJ published an article on page B1 entitled "Home Going Once, Going..." about real estate auctions.  On the online version, at the end of the article, my post "6 Questions To Ask At An Auction On Lake Martin" was linked under the heading "Blog Posts On This Topic."  It was one of only two such blog posts mentioned.Click here for the rest......
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By John Coley
(Coley Real Estate)
25 condos are being auctioned at Harbor Pointe in Stillwaters on July 7th.  Five of those will be absolute.  This auction follows on the heels of one earlier this spring.  Is this a sign of the times on Lake Martin?  Does this signal an end to the seller's market? Are auctions a way to get a good deal on Lake Martin property?Like any real estate transaction, every auction is unique.  The person that does the homework will either come out of it with a fair price or avoid paying too much.What questions should buyers ask before attending an auction at Lake Martin? 1.  Is this an absolute auction?  Always clarify this, but usually an absolute auction means that they must sell on that day, regardless of price.  Even if someone bids $1 for a Lake Martin condo, they must sell.  If it is not ab...
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Lake Martin has another great dining choice!  The Green Valley Market and Cafe is now open. The Green Valley Market is located in the Eclectic or Kowaliga area of Lake Martin, next to the Kudzu Corner.  They are located on Highway 229 about halfway between where 229 intersects highway 50 at Castaway Island Road, and where 229 intersects highway 63 (aka Kowaliga Road) in downtown Kowaliga. Click here to read more,
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Lake Martin's Fireworks Display on the Fourth of July is one of the best things about the lake area.  After years of watching the fireworks show at the lake has caused me to be jaded and judgmental of any other claims to have "the best" fireworks show in the land.Many have worried that this year's severe drought would prevent Russell Lands from putting on their annual patriotic display.  After the state fire marshall banned fireworks in 33 drought affected counties, rumors have been flying around Lake Martin that there would be no fireworks show.Fear Not!  The fireworks show is on!  Read more.....
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By John Coley
(Coley Real Estate)
Help!  Alabama Power has requested to lower the required stream flow coming from Martin Dam, in an effort to keep the water level on Lake Martin from plummeting even more.  Click here for the public notice from the Corps of Engineers.Willard Bowers, Vice President of Environmental Affairs at Alabama Power, made a request on May 15 to Colonel Peter F. Taylor, Commander, Mobile District, US Army Corps of Engineers, to "implement a reduction .. of flow of 10%" on Martin Dam.  He said that if they continue at the current flow, Lake Martin will be at its drought contingency level by July 4.  In short, they want to reduce the flow so that the water level on Lake Martin might have a chance of not plummeting as quickly this summer.Col. Taylor has responded by notifying the public about this req...
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By John Coley
(Coley Real Estate)
Lake Martin's water level is low this year, and it could get even lower.Alabama Power says that Lake Martin's water level started dropping on May 18 and "could be much lower on July 4." It is no news flash that Alabama and much of the southeast has suffered a severe drought so far in 2007.  This follows on the heels of a dry 2006.  Since part of Lake Martin's existence depends on it maintaining a certain level downstream, it has been affected. The folks at Alabama Power are not optimistic: "most streams that feed our lakes are at the lowest levels ever recorded."  Click here to read it all...
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By John Coley
(Coley Real Estate)
Alabama Power has leased waterfront lots on Lake Martin for decades.  Yet, so much rumor, speculation, and innuendo surrounds the topic it remains mysterious to many people, real estate agents included. Allow me to try to bust the myth on this subject.  Why are there leased lots on Lake Martin? Lake Martin was created in 1923 when the Southern Company (Alabama Power) built Martin Dam on the Tallapoosa River.  They bought up all of the eventual waterfront at the elevation of 490 feet above sea level.  Since old Mr. Ben Russell (founder of Russell Mills), already owned the damming rights to the Tallapoosa, the Power Company swapped him those rights for one half of the waterfront.  Pretty much every inch of the 700 miles of waterfront of Lake Martin at one time or another was owned by eith...
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Lake Martin has a lot of development and new construction going on right now.  One of the newest neighborhoods is called Bolton Cove.  Below are some pictures of the construction progress, and how it compares to their plans.Will the above be the site of the Bolton Cove Clubhouse?The above is a rendering of the planned Bolton Cove Clubhouse per the developerClick here for directions and more photos...
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Lake Martin is bustling with developers, builders, sub contractors, and all types of people in the construction industry.  To shed some light on the life of one of the "good ones," today we chat with Bradley Pemberton of Landmark Construction & Development, LLC:1.  How do you get your sub contractors to show up on time?  I'm sure there's a joke in there somewhere.  Seriously, I think it has to do with a number of things. First you have to know what "on time" means - proper expectations. You have to know what their work schedule will be on each project, because it will be different depending on the sub and job location.  More importantly, I think if you're honest, pay them quickly, and accept their bid without trying to beat them down, they will respect you more and work as hard and be a...
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Free boats Lake Martin!!  Russell Lands' big event is the Russell Marine In-Water Boat Show and Spring Tour of Homes at The Ridge.  It is scheduled for two weekends, April 28 & 29 and also May 5 & May 6.For the past couple of years, Russell Lands has done a couple of the Tour of Homes deals per year at The Ridge.  This year they are combining it with a Boat Show at the Ridge Marina, hence the lengthy title "Russell Marine In-Water Boat Show & Spring Tour of Homes."Click here to find out how to get a free boat.
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By John Coley
(Coley Real Estate)
Lake Martin live bait fishermen have a new spot to buy bait.  Kowaliga Live Bait And Tackle is open for business.  The new store on Kowaliga Road (aka Highway 63) is south of Kowaliga Bridge.  In fact, it's just south of my office, a tad north of the intersection with Highway 229.  The other day while driving to my office, I saw their sign, and I was so surprised that I chuckled.  I couldn't believe my eyes.  I can't remember the last time a new bait shop opened on Lake Martin.  Then, I was surprised that I was surprised.  Why not a new live bait shop?  Lake Martin has 700 miles of shoreline spread over 40,000 acres, and great fishing.  So why isn't the live bait industry thriving right now?  When I was growing up on Lake Martin, if you wanted to fish, most of the time you used bait.  Y...
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By John Coley
(Coley Real Estate)
Welcome to the April 23, 2007 version of the Alabama Bloggers Carnival.  A blog carnival showcases different blogs that have something in common - in our case - we are all Alabama Bloggers.Since I am admittedly the odd blog in this carnival, being the only real estate blog in the midst of political / cultural commenters, this theme will come off a bit forced.  But, I thought our theme could be that of a politically charged shin dig held at a home on Lake Martin.Click here to find out  whom we find at the party.......
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By John Coley
(Coley Real Estate)
Russell Lands has developed neighborhoods on Lake Martin for over thirty years, but its newest, The Ridge, is vastly different from any one it has done before.Russell Lands has gated communities like Willow Point, and the Ridge is near to its other developments of Windermere, Windermere West, and Windover.  But The Ridge is a totally new animal.  Here are 5 Things That Make The Ridge Different: 1.  Heavy emphasis on selling through approved builders - Russell Lands started this Lake Martin trend a few years ago with Phase I of The Ridge, and continues it with Phase III.  They sell a certain number of lots to "approved" builders, who build spec houses and then turn around and sell them for the builders.  In prior developments, they sold almost 100% to the end homeowner.  The use of appro...
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By John Coley
(Coley Real Estate)
The Lake Martin Real estate market, like every other one in the country, has changed irreversibly.  When my father Walter started in the business in 1973, the process was pretty much the same as when my grandfather Temple founded Coley Real Estate in 1953.  If you were a seller in the Lake Martin Area, and wanted to know what your home or lot was worth, you had to call an agent.  In 1953, in what is now the Lake Martin Area, there were two agents.  In 1973 I think there were three.  The process was - you called an agent, made an appointment, and physically came into the office.  Then you two would discuss your home.  He would tell you what home sales trends were.  There was no Lake Martin Multiple Listings Service.  No Lake Martin Homes Magazine.  Certainly no Internet.  You were totall...
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By John Coley
(Coley Real Estate)
Let's say you own waterfront property on Lake Martin, and want to sell it.  Let's also say that you have the good sense to hire a Realtor to help you list and sell it.  What are your choices?  Whom should you pick?Selecting an average agent instead of a great one could end up costing you major dollars.  You need to make sure to partner with one that fits you best.Here are 5 Realtors that Lake Martin sellers should not pick:1.  Don't pick The Part Timer.  Would you let a part time financial guy manage your retirement account?  Okay then.  It may be easy to be average, but being great at selling real estate is tough work (even on Lake Martin).  It is more than a 40 hour a week job to do things like talk to buyers, show properties, scout new listings, scour FSBOs, research property sales, ...
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By John Coley
(Coley Real Estate)
It's lunchtime on Lake Martin - where should we eat?  When I was growing up on Lake Martin, there weren't many restaurants around the Lake, much less on the water.  Families had to pack their on provisions and make do.  You drove to the cabin, unpacked everything, and lived on ribbon sandwiches, chicken salad, hamburgers, and BBQ.Today we have many places to eat, with more on the horizon.  I eat a lot of lunches around Lake Martin, so let me suggest four great lunch orders, in no particular order:  1.     Cotton's BBQ - a couple of miles south of Kowaliga Bridge on highway 63.  In my humble opinion they have the best Q the closest to Lake Martin.  When I am really hungry I go for a double cheese with a BBQ sandwich and polish it off with a slice of egg custard pie.  Otherwise I go for t...
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By John Coley
(Coley Real Estate)
Rest easy.  Alabama home sales have dropped, but not on Lake Martin.  Or should you be alarmed that the average sales price of a home in Lake Martin plummeted 15% in one month?  Which is it?On March 12, 2007, Patrick McCreless wrote an article in the Alex City Outlook entitled, "Home sales still strong on Lake Martin."  The information he quoted was from the Alabama Real Estate Research and Education Center, which (I assume) got its data from our Lake Martin Area Multiple Listings Service.  While I do not disagree with any of the data in the article, I do think it presents an interesting look at analyzing statistics of our market.Two main stats stuck out to me:1.     Statewide, Alabama saw the number of homes sold drop 20.4% from December 06 to January 07.  The Lake Martin Area increase...
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By John Coley
(Coley Real Estate)
The Lake Martin area is in for another musical treat - the Jazz Fest has finalized its lineup for 2007 (all times Central PM):Friday,  June 8, 2007 at the Strand Park in downtown Alex City:6:00 - 7:00  - The Robin Hill Band - local Alex City band7:30 - 9:00 -  Kelley Hunt - Roots R&B / Americana singer / songwriter / piano player 9:30 - 11:00  - Jon Cleary and the Absolute Monster Gentlemen -                              "Jon Cleary is the ninth wonder in the world." - Bonnie RaittSaturday, June 9, 2007 at the Lake Martin Amphitheater:Click here to read the rest of the lineup, including Edwin McCain
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By John Coley
(Coley Real Estate)
The Lake Martin real estate market was honored again on November 9, 2006, by the Wall Street Journal's RealEstateJournal.com, by being named a Top 12 Vacation Home market in the United States.Regional and even national accolades are becoming common for Lake Martin.  In other words, the news is getting out.  I usually don't pay much attention to such press, but this one really got my attention......Click here to read why the WSJ thinks Lake Martin Alabama is a great vacation home market.  
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