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Name:	jawjagal -	Reply
Subject:	Question for OSMS
Date:	8/26/2006 10:25:13 AM

The following statement made by you has been on my mind for a long time.

"Couple of issues come to mind. What are the neighboring houses like? New, old, cabins, newer lake homes? How good is the access road--a real road or a pig trail? Paved?

The lake banks on that side of the river are high red clay in many areas; do you have a high drop off? As you know, these are factors that will influence the value.

A huge new house, at the mouth of Madwind Creek, north side, that was very expensively built did not sell for a couple of years because it was nestled in among cabins on very small lots and a pig trail road. The house was out of place for the neighborhood. Owner probably lost $500K or more."

My burning question is: ON THE LAKE, DOES IT MATTER WHAT IS AROUND YOU FOR PROPERTY VALUE?

I know it does in subdivisions, etc, but I have always wondered if the lake factor - just being on the lake - made any difference. I see beautiful, big houses, with old, small homes...and just didn't know.

Name:	PartTimer -	Reply
Subject:	Question for OSMS
Date:	8/26/2006 11:18:58 AM

Not OSMS, but neighbors matter a lot in property values--and especially in saleability of the property--at the lake as elsewhere. You are right that there is more "mixed bag" properties on the lake, but beware a bad neighbor, and especially a bad neighborhood!

Name:	LifeTime Laker -	Reply
Subject:	I'm not OSMS but...
Date:	8/26/2006 11:21:51 AM

.... to answer your question with my humble opinion. NO.. not as long as the surounding houses are WELL MAINTAINED. I have seen mini-mansions go up next to old 'lake cabins' for years now and they don't seem make a difference. Right here in my own neighborhood I jsut saw one sell that was out of place for the area. Took a few months but somebody bought it.

As for the house that OSMS referred to, it was not the price or the location that didn't sell it IMHO. It was the style. It was done in middle ages castle styling with one door from a true authentic European Castle. I have met the daughter of the woman that bought the place (she is a freind of a neighbor) and know several folks who have been through it. It is a very unique style house and only would appeal to a certain segment.

It is apparently true that the builder ( a doctor, not a developer) lost a chunk on it though, but if you knew more details you would understand. Some of what I know is fact and some rumor so I will not say any more. But bottom line, I don't think it had anything to do with the 'little' places next door ( which are VERY nice and maintained). As for the 'pig trail', it is comparable to all the other roads in the area, tar and gravel. I remember the day that if you had lake property, you HAD to travel dirt roads to get to it.

Name:	Osms -	Reply
Subject:	Opinion for Jawjagal
Date:	8/26/2006 3:05:23 PM

You've already got two valid opinions, but, of course, I 'll be happy to add a third. The neighborhood matters a whole lot in the value of property on the lake. My reference was the Ridge, or it could be any of the Russell projects. Curb and gutter, central sewer, strong covenants, equal value homes all add to the value of a neighborhood and a lot in that neighborhood. My statement to Maverick was that he couldn't count on Ridge prices if his area doesn't offer Ridge amenities.

Lifetime Laker brings up the value of good maintenance which is just as important as the above features. Don't think you would want to pay $500k for a lot next to a trailer, or a lot with 12 -15 old boats stored there, or next door to Chuck's or any other commercial.

A factor that will come more into play is the buying of the older cabins, destroying the cabin and building a bigger, better place. The very best lots on the lake are the oldest houses, so you are going to see transitional neighborhoods just like you do in ATL. The early buyers will be taking a chance by upgrading, but the late buyers will pay a premium.

You've been in real estate--I don't think the lake is unique in this aspect.

Name:	jawjagal -	Reply
Subject:	Opinion for Jawjagal
Date:	8/26/2006 5:51:14 PM

Well, that's WHY I was asking...if the Lake was a different ballgame.

Name:	ot -	Reply
Subject:	Question for OSMS
Date:	8/26/2006 9:08:13 PM

location, location, location.....neighbors, school systems, ugly houses, ugly yards....yes, no matter where you are, neighbors are a contributing factor! just my BUYERS opinion. lake martin included!

Name:	Osms -	Reply
Subject:	Question for OSMS
Date:	8/26/2006 9:34:30 PM

The lake actually adds more variables like: Big view, quiet slough, deep water or shallow water, lots of boat activity or little boat activity, seawall or leave natural, boat house (everywhere except Russell properties) or dock restrictions (Russell)............the list goes on.

Name:	Feb -	Reply
Subject:	Question for OSMS
Date:	8/26/2006 10:00:23 PM

I have been to inland waters in Wisconsin, Minnesota, New Jersey, New York, Louisiana, Kansas, Virginia, Georgia and naturally Alabama. You see the same all over. There is genrally a mix as has been discussed. I think you will also want to pay attention to the inland houses, strutures, commercial properties, uses of property, or other things as you approach the water.

I would also steer clear of locations with mobile homes and trashed areas. I do not know how you determine how nice or nasty current neighbor or future neighbors will be. I would say there is most likely less concern with single family cabins than condos or apartment type arrangements. Lots with a little more width to them (water frontage) will also provide additional privacy.

Lake Martin is by far the nicest and cleanest inland body of water I have experienced. It is also the most trashed area I have ever seen with unofficial signs, advertisements and other eyesores I have seen on the roads and pig paths as you near the Lake. Seems to be true all around the Lake. I wish someone would or could explain this to me.

Name:	Osms -	Reply
Subject:	Question for OSMS
Date:	8/27/2006 7:58:07 AM

Feb, as a rural Southerner, the only way I can explain the signs is to say it's part of the tradition of "redneck freedoms". Same as throwing trash and beer bottles on the side of the road--they do it because no one says they can't. Rural area of MS and AL have fought zoning, building codes, and cleanliness since the beginning of time. MS just tried to pass building codes for the whole state and the rural areas fought it tooth and nail and won.

It's time for Lake Martin counties to grow up and get control before there is a real mess.

Name:	jawjagal -	Reply
Subject:	just until recently...
Date:	8/27/2006 9:32:54 PM

has there been any kind of develoment plans in the rural South. In the last 40 years or so, the development authority in counties has put together land use plans. Before that - hodge/podge. Being from an undeveloped metropolitan Atlanta county, until I-20 cut through my county, it wasn't well thought out. With the infrastructure, then of course, planning/properties/values were thought about. So, in general, I am used to nice neighborhoods next to pohdunk areas. It's the South, afterall.

Everyone should get the computer game SYM CITY. It's a great way to learn economic development and how much property values go up or down depending on what you build around it. Great educational tool.

That's why I brought up this discussion about if lake properties were in the same league and general property values. Thanks for all the info.

Name:	roswellric -	Reply
Subject:	Yeah but
Date:	8/28/2006 1:03:52 PM

You wouldn't get to laugh at signs that say things like Git-R-Done.

My all time favorite is "One Man and His Tools". Thinking about going around and erasing the "s" and see if it help his business...LOLOL

Name:	Feb -	Reply
Subject:	Yeah but
Date:	8/28/2006 1:44:14 PM

Tool Man and Git-R-Done have probably have been out of business and moved out of the area ten years ago. Their sign are still posted there as blith. Bet if you called a majority of the advertising signs you would get phone disconnected messages.

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