Lake Medina Topics: Prices on Martin...going up

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	Name:	noagenda -
	Subject:	Prices on Martin...going up
	Date:	10/17/2005 1:47:55 PM

I recently had an assessment done on my place and the $1400 a foot rate was utilized for appraisal. I think that price is very consistant and conservative with what I have seen in the market. All the other stuff residence, boat house, etc. is pretty easy to measure.

My parents live in Fairhope, Al on the bay and I have friends at trhe gulf.

Property on the bay is 8000-10000 a foot and condos on the beach are in the 500 to 1mm+ range for 2 and 3 bedrooms.

I think people are going to wear out on the hurrican factor with the risk, over supply(ala rental income) and the cost of insurance, especially when they are really buying an apartment versus real acreage. If there is any risk of a bust is on the gulf coast. Lake proporty will continue to rise, especially if the quality is managed correctly.