Name:	lakngulf -	Reply
Subject:	For Sale: Parker Creek
Date:	7/21/2014 8:25:53 AM

Boating all around the Parker Creek area with family and friends over the last few weeks, we have noticed several lake houses for sale.  John C, Toni or others know why the surge in listings?  Several of them have been on the marked for awhile, first as fsbo and now with realtor, but have not moved.

Name:	TotheLake -	Reply
Subject:	For Sale: Parker Creek
Date:	7/21/2014 11:06:59 AM

We have a house in Parker Creek and it has been for sale for 2 years this month.  We have been close to a contract several times over the last year but it all comes down to our driveway.  It is steep at the road and everyone wants a flat driveway.  Ours is 4 bedroom 2 baths and we've had several recently that are looking for a 3rd bath because they will be living there full time.  We met with a man yesterday about redoing our driveway in hopes of helping it sell and he guessed at $20,000 or more.  Do we want to put that much money into a driveway and gamble that it will help sell the place or do we want to just lower the price even more??  When we talked to our realtor about the lack of activity on the house this year she said we are competing with Russell Crossroads and restaurants on the other side of the lake.  That seems to be the happening place.  If Smith's Marina would work out and even the plans for Parker Creek I think that would help the houses in our area.  Until we get more eating places, I just don't see much movement in our area.

We don't have to sell our place, we just want to get back to the Dadeville side of the lake.  My husbands parents are pushing 80 and we are looking for a more permanent place to live once he retires in a few years.  We love the Parker Creek side and will be fine if ours doesn't sell.  We were just hoping to "bump up" to the next level of house before retirement.

Name:	lakngulf -	Reply
Subject:	For Sale: Parker Creek
Date:	7/21/2014 11:11:50 AM

From the water your place looks nice, and is a great location.

Name:	Lifer -	Reply
Subject:	For Sale: Parker Creek
Date:	7/21/2014 12:39:40 PM

IMHO restaurants have no bearing on 95% or better of folks decision when looking for a lake house.  After 40 years or so as an adult with lake houses I have never had any guests come for a stay and then inquire about restaurants.  As 25 of those years as a "weekend warrior" you couldn't have drug me or my guests to a restaurant while here on weekends.  Having known many, many folks who were shopping for a  lake house I never once heard one mention close restaurants as a consideration.  Shopping maybe, but not eateries.  It may be more important to someone looking to retire and live lakeside full time but probably not as much as a steep driveway even then as most retirees will be looking for the easy life, not a torrid trek up a hill to take a trash can to the street.  What everybody wants is year round water with a nice sloping lot to the water with lots of action but only at idle speed near their dock.  Once they realize that is not going to happen they will settle for steep slopes if it is built well and mechanical advantage can be used to lessen the impact on them.

Once you decide you are not going to be able to "bump up" at someone else's expense and put a reasonable price that allows the new owners to make the lot what they want I suspect you will sell.  Lets face reality, that is what your post said you want to do.

Just my opinion, I could be wrong.

Name:	InvestmentGuy -	Reply
Subject:	For Sale: Parker Creek
Date:	7/21/2014 1:38:31 PM

Bought lake place last year on the Dadeville side of lake off Turner Road after looking for nearly a year.  IMO, tough to say why some places sell faster than others; while others sit for years.  Lake Martin area is a very strange real estate market; everone's criteria for a lake place is so different.  Talked with many of the so called real estate experts on Lake Martin in our search process; found very few of them to be true experts.  IMO, still very much a buyers market up here; still tough to be a seller.  While number of units seem to be moving better, i feel pricing for the average unit is still in the tank.  Homes still seem to be selling for about 91% to 93% of asking price, with initial offers around the 90% level not being uncommon.  Again, this can vary by property.  Inventory levels may be down from one,two, and three year ago levels; but much shadow inventory wants to come onto the market; pricing still keeping many off of the market. 

While many real estate professionals say the water setup is the most important (it ranked very high in my 10 criteria I used in my search), it was strange to see the recent House Hunters tv show highlighting a couple's desire to purchase a lake house focus so much on the house rather than the water setup here on Lake Martin.

Just my casual real estate observations and opinions from a non-real estate guy.

PS:  My Real Estate thought for the day to the Real Estate Community:  Constant suggested price cutting is not a marketing strategy!  Owners, you cannot cut your way to prosperity! 

Have a good day and god bless everyone.

Name:	boataholic -	Reply
Subject:	For Sale: Parker Creek
Date:	7/21/2014 6:08:24 PM

The focus on the house does not surprise me.  I have observed more than a few like new houses on mediocre lots/mediocre water sell quickly while great lots with a house stuck in the 1970's sell slowly.  Even when the cost of the outdated house plus updating is less than the newer house.  (I'm hoping to buy one of those great lots).  I think it follows the trend that people don't buy subdivision lots anymore, prefering the ready made spec-house.  Simple impatience and lack of imagination.

Name:	froghog -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 7:17:44 AM (updated 7/22/2014 8:03:40 AM)

I for one can't think why anyone would buy a lot and build new. There are soooo many different types of lake homes on the market. Most listed way under for what you could build for today. I don't think the proximity to food is the driving factor for sales.  Slope of driveways or lots in the Crossroads area is the rule rather than the exception. Possibly the way to a sale is choosing the right realtor to list your home.  Someone that will bring experience and be truthful with you about your price and suggest things to you that might make your home more saleable. Great listing agents are far fewer than good buying agents. If after 2 years on the market you have had no interest in your property it might be time to pull it from the listings and rethink your sale strategy.  

Name:	MartiniMan -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 10:49:33 AM

My experience in the real estate market is that there is only one important factor, the price.  Anything will sell for the right price, even with a steep driveway or some other potential challenge with a particular piece of property.  I suspect that because you are not in a hurry and don't have to sell that you have the house priced accordingly and will sell if you can get that price and if not, you will keep it.  I frankly think that when it comes to getting the most value out of your investment that is a great place to be. People in a hurry or who are desparate to sell will end up getting less.

If at some point you have a greater sense of urgency to sell and the market hasn't caught up with your desired asking price then you might reconsider.  Until then, stay the course and you never know, someone may come along and snap it up for close to what you are asking.

Name:	MartiniMan -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 10:57:29 AM

This is an interesting point because when we bought our lake house ~10 years ago we all went into the process saying that the house doesn't really matter, its all about the lot and the waterfront.  But when we started looking we quickly realized that the seller had factored in the lot and waterfront into the sales price and that when you compared the value for the money buying a nicer house on a slough that didn't have water year round was a much better investment.

I spent two days with the agent narrowing down our list of potential houses in our price range, some with nice lots and not so nice houses and a couple with a decent house on a less desirable lot.  The wife came down and said that the lot was most important and my response was, "we'll see".  After looking at all the options she completely changed her mind and agreed that the house on the slough was a much better deal.  And in the decade we've had the house we only regretted that decision a little during the drought year when we left after July 4th and didn't come back because of a lack of water.  Otherwise it was a good decision.  

Now if APCO is successful in getting the winter rule curve changed to 483' it will be a home run because now our house would also have year round water.  But that's a debate for another thread.

Name:	John C -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 11:27:48 AM

In short, in my opinion there is nothing up with listings in Parker Creek. I know and have talked to many of the sellers, and most are selling because they may have gotten older or are not using them for some typical reason.

A word or two on buyer motivation and restaurants - there is absolutely a healthy section of buyers that want to be close to restaurants and / or shopping. No doubt about it. My dad told me when I started this, and he's right, one of the hardest things to do on a daily basis is separate your personal opinions from that of the buyer. A good agent listens to the buyer and focues on their wants and needs and helps them achieve their goals.

Of the "buyer leads"  I have talked to every day, day in, day out since 2005, I would estimate that 50% are what I call "geographically focused," that is, want to be in one particular area. Of those 50%, half are focused on the east side, half are focused on Elmore and Coosa Counties. Of the Elmore / Coosa Crowd, maybe 20% are really tightly focused and only consider Parker Creek and would not consider Little Kowaliga / Kowaliga Bay, and vice versa.

Of the east siders, they prefer it because it's close to 280, Auburn, Georgia, and make no mistake - restaurants.

Of the 50% that are not geographically focused, well, they don't care where they are. It might be because they don't know much about the lake, or they know it so well they realize, as I have, that you can have a great place on any spot in the LM area.

Back to Parker Creek, it's actually one of the most fiercely competitive areas, in my opinion. Last month a cute 3 bedroom came on the market for $399k, on a great lot. It was not my listing, but I sold it in a week because I had a buyer that was primed for that area and that type of house, I knew I had to act fast. Similarly, last week another one came up like it for $425k, again.. nice house, awesome lot. I was interviewed but missed out on getting the listing and knew it too would go fast, so I tried to get a buyer quickly on it to no avail. It sold in like 3 days.

Name:	InvestmentGuy -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 1:36:13 PM

One more word on the premier lot / vs. premier home story here at Lake Martin.  Be careful with the "fixer upper" here on Lake Martin.  Many homes have been purchased up here with a wonderful water orientation, but the home needed some work to bring it up to the standards many were aiming for.  People have been absolutely "shocked" at the bids to refurbish the areas of a home that needed updated.  The cost of the home plus these bids have been above other homes of similair stature that did not need a rehab job.  IMHO, the days of throwing endless money into kitchens and bathrooms with the expectation that you get everything back are probably gone.  I have seen pictures of rehab jobs done here at the lake; I would bet most of these properties wound up having a total cost exceeding the true value of the property in many cases.  Owners and people looking for lake martin property; Be CAReFUL with this; watch your total investment.  Also, be careful with what people in the real estate community may persuade you to do.  At the end of the day, it is your money.  I have found the cost of services relating to home rehab's up here to be "tremendous" relative to our main home in another city here in Alabama.  Why, I don't know.  Sheetrock services should be sheetrock services; framing should be framing; electrical drops should be electrical drops; plumbing should be plumbing; etc; etc.

Also; personal follow up ALWAYS beats just being added to an email chain.  Being added to an email chain is not a marketing strategy IMHO.  Just passing thoughts from a "non real estate" guy. 

May god bless America and all of us.

Name:	Toni -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 2:16:37 PM

Ater looking at our MLS and searching listings in the Parker Creek area, I'm not seeing more "new" listings there than other areas of the lake.  Basically, buyers shop by price and area.  If a place is priced well and it fits the geographic needs/wants of the buyer - it will probably sell quickly.  If a property stays on the market for a long time...my first thought is it might be overpriced; otherwise, it must be the house/lot/view etc. just don't fit what folks want.  Just my thoughts...

Name:	lakngulf -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 7:13:12 PM

So the Parker Creek secret is out, huh?

Name:	boataholic -	Reply
Subject:	For Sale: Parker Creek
Date:	7/22/2014 7:48:55 PM

I love a good real estate discussion.  As for Parker Creek being "hot", then why has Bolton Cove and Eagles Point been such failures?   While I think Bolton was just overpriced, why didn't Eagles Point ever take off, even after the bank tried to sell?  The lots are extremely cheap considering the water depth and 3 mile view.  My current theory is that buyers just don't want small 50 foot lots, but The Village blows holes in that theory.

Name:	GoneFishin -	Reply
Subject:	Motivated Seller
Date:	7/22/2014 8:59:52 PM (updated 7/22/2014 9:01:07 PM)

After 2 years, it appears you are not a motivated seller. If it sells great but you don't have to sell. I believe you know the answer which is simply the driveway is turning away buyers. You need the motivation to sell which means a drastic price reduction to attract a buyer based on the price.

You have to think back and answer to yourself why you bought the lot and was it priced special because of the terrain. It is only worth what a buyer will pay. 

Removing the property from the market may be your best bet. Multiple Listing shows the length of time the property has been on the market. A buyer should ask why 2 years? That can be a real turnoff to a potential buyer. They would expect by now you are motived.

But, by you own post you are not.  

So, I suggest either become motivated or take it off the market. 

Name:	TotheLake -	Reply
Subject:	Motivated Seller
Date:	7/22/2014 9:10:52 PM

We've been told by several realtors that it is priced right, people love the cabin and the view but just don't like the driveway.  We've lowered the price 10% (just did a reduction around the 4th of July and have had 1 showing since we lowered the price).  We have it listed for less than we paid for it in 2005.

Name:	Ulysses E. McGill -	Reply
Subject:	Motivated Seller
Date:	7/23/2014 2:13:58 AM (updated 7/23/2014 2:19:22 AM)

I do think a bad driveway can be a significant factor. I say that because my wife feels threatened by steep driveways and any home we've ever looked at over the last 30 years was automatically taken off the table (by her).  I think this is a much bigger factor than being close to resturaunts for most people, but as John C said, some folks are very location oriented. Unfortunately, there is often no way to REALLY fix a steep lot and driveway.....not sure if that is the case for you, but don't spend the money unless it's a REAL fix. If you like your place, just enjoy what you have and continue to try and sell. I agree that you may need to reconsider your listing agent at some point, but what you really need is for the right buyer to come along.

Name:	Lifer -	Reply
Subject:	I beg to differ!
Date:	7/23/2014 10:38:14 AM

IF it were priced right, it would have sold.

A tale of two houses.

Right here in my neighborhood there is a house that has been on the market for a couple of years at 499K.  Not one offer in the entire time even with price reductions. About a year into that listing another house came on the market at the same asking price of 499K a stones throw away.  Statistically on paper the houses are comparable in relation to square footage, ammenities, lot size, etc.  the second house sold in 3 days at full price.   The biggest difference is the style of the house and the view.  One was built as a lake house and the other as if it were in a upscale suburban subdivision from whence the builders came.  I am sure you can guess which one sold.

Part of the problem is that you bought very close to the top of the mark during the irrationable exuberance of LM real estate 'investing'.  GF gave you good advice.  Take it off the market long enough for it to show as new listing again (not sure how long that is now but probably at least 6 months).  Then start over.  In the mean time get as many estimates and ideas as possible on how to correct the driveway situation so that you can intelligently and rationally overcome objections with ideas and cost estimates.

Name:	realfast64 -	Reply
Subject:	I beg to differ!
Date:	7/23/2014 7:22:05 PM

  I have been on this  lake for fifty plus years till this past spring.  I had a house for sale for several years before it sold.  First reason it was on the market so long was i started out as a FSBO (for sale by owner) only to be trashed by local realtors.  Second problem is agents are more interested in listing than selling.  I can relate to the post about "LAKE PROS" of which one post on here regularly if they were such good/great realtor they would not have time surfing this sight!! I call them listing pros! 

  Agent number 1 got a free steak supper from agent number 2 could trash my house and tell of serious foundation problems. To which i hired a engineer to examine my house to find this "serious foundation problem" to which none were found!!  By the way agent 2 was at my house 3 weeks before wanting to list my house and was trying to sell one the idea i needed to pay her 7 to 9 thousand dollars to stage my house.  Also agent 2 was the agent that sold me this house 9 years before and nothing was mentioned about a foundation problem.

  I heard all the excuses of granite, deep water, no beach, to many corners, baths to small, to much grass to cut, to steep, not enough yard,to much yard. All kinds of excuses and that is what most were. I told the granite people to pick out the granite and at closing I would purchase it for them, only to never hear from them again.  Took ones obsurd LOWBALL offer   TO WHICH THERE REPLY WAS THEY WOULD HAVE TO THINK ABOUT IT!! HECK IT WAS THEIR OFFER. What was to think about surly they had thought about it. The realtor dropped the ball on this one since all offers were to be presented in written form with earnest monies!! To which i pointed out to them as I read the contract the agent had me sign at listing.

This day all you need is a name and address, and you can find out enough on someone to determine if they are possible buyer most are only proffessional lookers. My house had camera security system several looked at my house year after year (lol) with new realtors of course!!  Several lookers had several bankruptcies over several years. I guess this is how they pass there time! DREAMING   

  Till agents return to buyers showing credit worthyness there will continue to be song and dance!! 

  In my experience there are more lookers than buyers,guess it makes them feel good to look and dream. 

  I know some are wondering why i didn't take legal action. Belive me I wanted to but it is near impossible to get one agent to testifi against another. But i did enjoy questioning agent 1 about agent 2 remarks.   Some lake residents forget how sound travels on water!!!LOL