| Name: |
jawjagal
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| Subject: |
Sandy Creek pricing
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Date:
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8/13/2005 1:24:16 PM
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Are lake lot and homes lower priced in the Sandy Creek area? It seems that way...is there a reason?
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| Name: |
HappyCamper
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| Subject: |
Sandy Creek pricing
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Date:
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8/14/2005 7:21:51 AM
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We've been here a year and I've never heard of any problems specific to the Sandy Creek area.
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| Name: |
Osms
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| Subject: |
Sandy Creek pricing
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Date:
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8/14/2005 10:14:41 AM
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I live on Sandy Creek--best kept secret on the lake, I think. Had a place here in the 70s -- built another one recently. Much quieter than the south end of the lake (Blue Creek, Ridge, etc), but good water. Prices were probably more reasonable because Russell Lands had no listings on this side of the lake, but has just started listing here with their outrageous prices. RL has two recent listings that are priced at twice their value - guess that's how you create a Destin style craze.
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| Name: |
AU Contractor
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| Subject: |
Where Is Sandy Creek
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Date:
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8/14/2005 10:57:05 AM
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Please indicate where Sandy Creek Is On The Lake.
Thanks
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| Name: |
Lakeman
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| Subject: |
Where Is Sandy Creek
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Date:
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8/14/2005 1:00:48 PM
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Got a map? North of Blue Creek on the map.
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| Name: |
Osms
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| Subject: |
Where Is Sandy Creek
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Date:
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8/14/2005 2:48:39 PM
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Told you it was a secret!
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| Name: |
AU Contractor
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| Subject: |
Thanks Lakeman
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Date:
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8/14/2005 4:36:20 PM
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| Name: |
AU Contractor
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| Subject: |
Ha! Lakeman Told Me
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Date:
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8/14/2005 4:37:16 PM
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Your secret is safe with me
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| Name: |
JIM
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| Subject: |
Where Is Sandy Creek
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Date:
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8/14/2005 5:25:24 PM
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Sandy Creek is exactly what is,the water is so gritty it eats up the rubber in the water pump on the pickup of the foot,and sand blast the paint off the foot and boat if you go over 40 mph. Stay away from the creek, except if all you have is a noodle. And the fish are gritty as yell.
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| Name: |
AU Contractor
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| Subject: |
You Forgot About The Sludge
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Date:
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8/14/2005 5:38:04 PM
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| Name: |
Osms
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| Subject: |
Where Is Sandy Creek
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Date:
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8/14/2005 5:44:49 PM
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AMEN---and it's muddy year round and only 9 feet deep--in the summer!!
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| Name: |
roswellric
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| Subject: |
And...
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Date:
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8/14/2005 10:24:27 PM
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Don't forget the snakes....
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| Name: |
Lakeman
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| Subject: |
And...
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Date:
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8/14/2005 11:06:42 PM
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The alligators.
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| Name: |
HappyCamper
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| Subject: |
And...
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Date:
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8/15/2005 8:17:25 AM
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Ignore them JawJaGal. They just want to keep the lake all to themselves. But they sure do tickle my funny bone!!!
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| Name: |
Feb
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| Subject: |
Sandy Creek pricing
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Date:
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8/15/2005 9:25:10 AM
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There has to be something to all these claims of problems in Sandy Creek if there is property available. . We have none of those problems in the Parker Creek area, but there is hardly any property, if any at all, available for sale.
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| Name: |
Colemadina
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| Subject: |
Sandy Creek pricing
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Date:
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8/17/2005 4:30:46 PM
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I also have a place in Sandy Creek. The lower portion of my boat keeps a dingy line on it from the mud and sludge in the area. The water is just not as clear as the lower areas of the lake possibly because it is so near the mouth of the Tallapoosa. I have seen a few places go up for sale in the SC area recently and they are just as expensive as everything else. Most of the ones that are in the lower figures need work either on the house or the porperty. We constantly look for a place around Kowaliga and Real Island where we were once before and loved the crystal clear water there.
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| Name: |
FLee
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| Subject: |
Sandy Creek pricing
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Date:
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8/18/2005 12:49:28 PM
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I agree with Colemadina, Sandy Creek is a BAAAAAD place. I recommend anywhere else on the lake.
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| Name: |
jawjagal
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| Subject: |
Sandy Creek pricing
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Date:
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8/20/2005 10:15:46 PM
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Thanks for all the input. Almost bought there (I am sure you guys who don't want any more folks are relieved and those who don't like Sandy Creek are relieved for me.) We own at Blue Creek and I think we'll just stay put. I an NOT going to spend another $100,000 + for one more bedroom.
We'll put in bunkbeds if we have to.
When did it get so CRAZY and most importantly WHY?
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| Name: |
Feb
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/20/2005 11:41:15 PM
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When did it get so CRAZY? About three to four years ago, and you ain't seen nothing yet.
Most importantly WHY? Demand.
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| Name: |
WSMS
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/21/2005 11:08:33 AM
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It might be demand, but not for lack of supply. Many of the new, big houses are being bought by people who already own lake property. What they're looking ofr is something bigger and better so they can, in the words of one of my clients, keep up with the Joneses. For a lot of them having a big expensive place is status and nothing more. Many of them already have a place on the lake so it's not that, they need something bigger to impress whoever it is that matters. FWIW, I'm not making this up off the top of my head; I meet people who are looking to buy every day, and I help them look because it's my job.
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| Name: |
jawjagal
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/21/2005 1:03:49 PM
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Thanks. What is your take on leveling out? Ever?
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| Name: |
roswellric
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| Subject: |
It's not crazy at all
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Date:
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8/21/2005 3:05:04 PM
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Probably another 40-50% in values. Basic lot prices- uh values- in new developments are still way below other metro area lakes.
The boomers have lots of money to spend on a very scarce resource... waterfront property.
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| Name: |
roswellric
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| Subject: |
Sandy Creek pricing
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Date:
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8/21/2005 3:13:17 PM
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And if Russell is not careful (and even if they are), it could get crazy like the gulf. I'd hate to see fllppers come in here from all over the US like Watercolor in FL. I hear a postage stamp lot there with no water view is $1.8 M. Can you imagine some "investors" in the Ridge trying to rent out one of those "duplex" style houses to cover expenses??
Make a bubble and it will surely pop and leave some damage behind. A southern community is why I bought on LM in the first place....
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| Name: |
WSMS
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/21/2005 6:24:37 PM
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I'm not sure it will level out so much as crash and burn. There are two things working against the current trend continuing. One is, eventually something will come along that is more trendy and cooler than Lake Martin, and the status seekers will take their money there, leaving behind a bunch of stuff that no one will buy at the price they want to sell it for. More likely and much sadder is that the more development you have here, the more you lose what it is that makes the lake desirable in the first place. Privacy, peace and quiet, seclusion and exclusiveness all shrink with every new house, and shrink exponentially with every new development.
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| Name: |
Feb
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/21/2005 9:36:49 PM
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WSMS - What do you base your theory or speculation upon in the plunge of Lake Martin property, and when do you see it happening? If you are a professional in this area, then you must have something to back-up your position.
I predict the opposite. I have stated in several previous post what I believe is happening and will continue to happen. I have also provided detailed rationale for why I believe it is the case. They include but are not limited to:
1. Baby-Boomers retiring.
2. Sun Belt draw of retires.
3. Low Property Taxes.
4. Current low price for value of Lake Martin property.
5. Continued low interest rates.
6. Tremendous economic growth in the central Alabama region.
Based upon your speculations, folks should shy away from buying at Lake Martin. Maybe that is your objective. Wish all you want, but I don't see it happening.
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| Name: |
roswellric
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| Subject: |
You know what?
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Date:
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8/21/2005 9:37:07 PM
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I think that is possible but not going to happen. I think that the Russell folks have enough sense to preserve the quality of that 300+ miles of shoreline they own for future generations.
The development won't take place quickly-- and why would they destroy their future for now dollars... they don't need now dollars unlike the public real estate companies that are worried about their stock price next quarter.
I think they are spending some time now adjusting to the changes. Just a guess....
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| Name: |
roswellric
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| Subject: |
BINGO!
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Date:
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8/21/2005 9:37:50 PM
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| Name: |
WSMS
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/22/2005 2:20:50 AM
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I make a living SELLING property on Lake Martin, so why would I want it to end? However, I'm neither blind nor stupid, and I'm not going to pretend things are going to stay just the way they are when I can see the changes already starting to happen. When the bust comes, there will be people left holding the bag, but I won't be one of them.
By the by, you act like I said that lake property will become worthless. I never said that. But talk to people who are interested in selling property, and you'll see that there are many people out there who already are asking for more than their property is worth--- and they aren't getting any takers. That has not always been the case in recent history.
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| Name: |
WSMS
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| Subject: |
You know what?
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Date:
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8/22/2005 2:28:24 AM
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Russell Lands is already developing their holdings faster than they ever have before, and they have no plans to stop. (I can't tell you how I know, but let's just say that I know almost everyone who works in the developmental end of the company.) Just right now we have the newest Willow Point developments (more condos, and a new phase that will take over Pitchford Hollow), the River North condos, and The Ridge. In fact The Ridge will be an ongoing project for many years to come and will soon encompass all of the land starting at Windermere, going up to the sailing club, down into Ware Slough, all the way around until Ware Slough ends at the point across from the sailing club. And Willow Point expansion is seemingly never-ending; these two developemts, and Trillium, will continue towards each other until the company has no more land.
But what do I know? I only work here.
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| Name: |
Feb
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/22/2005 7:30:59 AM
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OK, We would love to see some data that supports your points. Keep the data pertinent to water front property on Lake Martin. There is always going to be some small percentage of property that is over priced in any market. Professional Realtors track and have readily available market trend data on categories of property. The last six months to a year of tracking should be appropriate. What is the increase or decrease in value over the last year? How many pieces of property listed either sold or did not sell?
Are there other Realtors, mortgage bankers, appraisers or other professional with knowledge of the property market that can either support or refute WSMS's predictions of a down turn or even a "crash & burn" of property values on Lake Martin?
Read a number of post by others on the Forum proclaiming the difficulty of finding a place. In the last two months, I have had seven different strangers contact me long distance wanting to buy my property. They have gone to the trouble of contacting the County and obtaining my name & phone number. My property is not for sale and has not even been mentioned to anyone as available. Prior to this, I have only been contacted twice with such solicitations.
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| Name: |
HappyCamper
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/22/2005 8:43:26 AM
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We also have agents contact us about selling but it is because we have what looks like an "affordable" place - a small older cabin on a steep lot.. We think about upgrading but wonder is bigger really better???? Our little place is pure fun.
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| Name: |
WSMS
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/22/2005 11:22:24 AM
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I'm headed out for some appointments so I'll keep this quick. As of this morning, there are 158 properties listed on Lake Martin, ranging from $39,000 to $2,500,000. The oldest of these has been on the market since 2002. Are there others who can back up what I've been trying to tell you? Absolutely. Am I going ot give you their names? (Or mine for that matter?) Some things are bad for business if they come out from behind closed doors, and some of these others, most of them my friends, need things to stay as good as possible for as long as possible.
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| Name: |
dooblebug
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/23/2005 1:06:35 PM
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I have to say that I agree with you all. Yes, there are properties that have been on the market for several years - mainly because they are not worth what is being asked for them, or you don't have enough takers that want to pay $2.5 for a lake place. In my honest opinion, the main growth of the property values has been in the middle of the road properties. I think there is a certain threshold that people must get over to spend over $1 million on a vacation home. More people are willing to put in $250,000 to probably $700,00 for a vacation home, and thats the group that is soaring. I purchased a conod pre-construction a year ago, and a few realtors on Lake Martin tell me that its worth almost double what I paid for it. Atlanta and surrounding areas are helping to drive this market at the lake. Just my thoughts and what I have been told by realtors at Lake Martin.
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| Name: |
Feb
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/23/2005 2:17:19 PM
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I agree. We should also remember the boom in economy based on Alabama becoming the Nation's Auto Capitol. Anyone heard a rumor that Kia is going to take up residence in our Great State? There is also a potential future boost for the Huntsville area with recent Base Realignment and Closure (BRAC) activities. Headquarter, Army Materiel Command and some additonal agencies are slated to tranfer there. I would think folks at the Arsenal would probably look for closer waters.
Did anyone else have an answer for when they thought it started "getting crazy" ? I simply guessed at three to four years ago in my previous post.
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| Name: |
jawjagal
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| Subject: |
When did it get so CRAZY and m
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Date:
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8/24/2005 12:02:31 AM
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A friend told me they had their Still Waters property overpriced at the first of the year and by May when they sold it, it was underpriced. I've been hearing 4 years, but I've been seeing 6 months in the LIving Magazines. Anybody else?
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