| Name: |
rock
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| Subject: |
property values
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Date:
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1/25/2006 7:55:10 PM
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Lake property is increasing over 30% everyyear and it will continue to jump. Beach property values have gone thru the roof until all hurricane damage. People are getting tired of fighting it down here Gulf shores
Orange beach etc. I know serveral people that are bailing out buying on the lake. I'm just thankful we got the apc lease back in 64 and were able to buy in 1988.
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| Name: |
Maverick
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| Subject: |
property values
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Date:
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1/25/2006 8:35:37 PM
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Spoke with a realtor the other day, we agreed 4 things driving current market:
Baby boomers retiring
Gulf coast property owners tired of hurricanes
Atlanta folks
And number 4 - limited supply and extremely high demand. She stated this is the lowest she has ever seen the supply side of the market.
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| Name: |
roswellric
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| Subject: |
True
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Date:
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1/25/2006 9:35:46 PM
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Property values on the lake for the last 5 years have actually averaged about 15%. There are years when it is only 0-5%. Seems low but true....
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| Name: |
ChrisCraft
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| Subject: |
property values
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Date:
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1/26/2006 3:09:36 AM
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Good. Retirement is right on schedule.
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| Name: |
lamont
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| Subject: |
True
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Date:
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1/26/2006 8:39:29 AM
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That may be true but, we actually had ours appraised and it doubled in 2 years.
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| Name: |
greycove
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| Subject: |
My property value increase
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Date:
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1/26/2006 12:09:53 PM
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Maybe some others will share.
House next to my cabin on market. Our cabin is very comparable. I have made a number of improvements over time, but so did the neighbors. Likely washes out in comparability.
Bought current cabin in 1993. It is worth about five times what I paid 12.5 years ago based on the asking price of the neighboring house. That works out to be something in the range of 14-15% increase over this time.
Very close to "roswellric" post above.
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| Name: |
roswellric
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| Subject: |
True
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Date:
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1/26/2006 1:58:01 PM
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I was speaking of "average" compounded for 5 years. I think the years 2001-2003 were nil...
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| Name: |
FLee
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| Subject: |
We have been
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Date:
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1/26/2006 5:36:18 PM
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keeping close tabs on both property and housing over the past 5 years. Have bought several lots and tracked others that have been sold and re-sold over that time as well. We found that 01 - 03 values for lots increased 8 - 12% each year. 04 - 05 have been closer to the 25 - 30% range each year.
We have tracked a couple of lots that were not selling at list price in year 1 and they raised the price 15 - 20% in year 2 and they sold. Go figure - supply vs. demand really works.
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| Name: |
jawjagal
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| Subject: |
My property value increase
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Date:
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1/26/2006 6:03:03 PM
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We looked at the property over in Sandy Creek - the Cascades. Two properties are still on the market since late last Spring/early summer....the cabin for $335,000 and the 6 bedroom for $450,000. Then another cabin came on the market for about $350,000. Amanda Scoggins....all of them. What's up with that if supply and demand is what you say it is? I see other properties are still for sale in Lake Martin under FOR SALE properties on this forum. So...why is it that some are hot and others not?
ooops, a rhyme.
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| Name: |
Maverick
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| Subject: |
My property value increase
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Date:
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1/26/2006 6:45:26 PM
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Might be location, location, location or
Minimal water frontage or
Extremely small lots or
Steep lots, or
Way back up in a slough. -- You never know.
All I know is any decent deal on Lake Martin around me has sold within 2 to 3 weeks. I am close to 280 and Wind Creek
Also a fixer upper across the slough, took over 2100 man hours to remodel -- inside and outside completely gutted on a 250' somewhat decent sloped lot sold for $285,000. I was amazed, I was thinking of offering like $150k. The other amazing thing is the remodel has been done for like 6 months and have never seen the new owners at the home, go figure.
You never know, but I can assure the supply side of the market equation is nowhere near what is was 3 to 4 years ago.
Currently there are 192 homes available for sale and of those 96 of them are the 280, Harbor Point and Chuck are condos, so that leaves under 100 homes for sale.
Several years back when I purchased our home there were over 200 homes for sale on the lake and very few where condos
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| Name: |
rock
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| Subject: |
My property value truely
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Date:
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1/26/2006 9:39:17 PM
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Other than (a feel good thing) as far as property values I'm owner going to stay a owner on the lake cause you can't replace it . Obviously it is a great investment if you get down on your luck you got a ace in the hole.
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| Name: |
rock
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| Subject: |
My property value truely
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Date:
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1/26/2006 9:39:29 PM
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Other than (a feel good thing) as far as property values I'm owner going to stay a owner on the lake cause you can't replace it . Obviously it is a great investment if you get down on your luck you got a ace in the hole.
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| Name: |
Feb
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| Subject: |
My property value truely
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Date:
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1/26/2006 11:51:14 PM
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Amen "rock" & you can even say it again if you like. (LOL). I do agree with the way you look at it. The ones that are concerned are the ones without. I would be too if I were in their boat. If you can't afford it now, then your fortune will have to change significantly to afford it in the future.
Lets also face the fact, Alabama will soon if not already be the Car Manufacturing Capital of the U.S. Where is a share of all those new money holders in the auto industry going to find a place to get away from it all with their families on the weekends?
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| Name: |
greycove
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| Subject: |
Left few words out
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Date:
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1/27/2006 10:48:04 AM
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I should have said my cabin has increased, on average, about 14-15% per year over the 12.5 years I have owned it. No interest in selling, but where can you get this return except through late night flights to and from Columbia.
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| Name: |
lamont
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| Subject: |
Left few words out
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Date:
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1/27/2006 11:17:44 AM
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When did South Carolina become a player in the drug business? Perhaps you meant Colombia. Sorry.... could not help myself. I really miss Sally.
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| Name: |
FLee
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| Subject: |
Some of my
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Date:
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1/27/2006 1:29:27 PM
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real estate agent friends say that, on average, lake lots increase year-to-year at a higher rate than houses/cabins. Reason is - more desirable because more people would rather build their own.
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| Name: |
jawjagal
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| Subject: |
Some of my
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Date:
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1/27/2006 9:22:03 PM
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So, should the bubble burst, then which should be more affected - our houses or our second homes?
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