| Name: |
lakngulf
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| Subject: |
lake level
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Date:
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10/10/2006 6:30:08 AM
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Hey Folks, yall should go back to discussing lake levels and Russell developments......things you can control. No, on second thought better stick to the war and nukes.
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| Name: |
BigFoot
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| Subject: |
lake level
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Date:
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10/10/2006 9:07:11 AM
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agreed....lake levels, real estate, OUTRAGEOUS TAX HIKES, bumpers, anything...........
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| Name: |
Geno
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| Subject: |
lake level and leaves
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Date:
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10/10/2006 7:40:40 PM
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Hey not to disregard the lake levels, but this transplanted southerner here in the not-so-far reaches north. Cincinnati would like too hear of Alabama's autumn color and what foilage changes in the lakes beauty takes place and when.. I have great distain for our region once the leaves fall and the forest is barren. Just askin' as I hate the winters here, I'd sooner be there.. Anybody can chime in as they please.
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| Name: |
Osms
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| Subject: |
lake level and leaves
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Date:
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10/10/2006 10:46:22 PM
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Leaves are still pretty much green here at the lake. Beginning to change around Birmingham. Drought is still going strong as is reflected by the lake level.
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| Name: |
boataholic
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| Subject: |
lake level
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Date:
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10/11/2006 11:38:00 AM
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I'll try to stir the pot. There are 444 properties for sale on the MLS site, 34 marked pending, 26 are not on Lake Martin, 128 are condos, 142 are deeded properties, 21 are leased, 15 appear to be shared waterfront, 78 are lots. Average condo price is 492K, average deeded property is 803K, average lot is 419K.
Possible questions for debate:
Is the bubble about to burst?
Is the condo bubble about to burst?
Why aren't there more leased properties for sale?
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| Name: |
Feb
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| Subject: |
lake level
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Date:
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10/11/2006 12:07:59 PM
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There are still a lot of unknown variable particularly past history. It would be helpful to have same type data for this time last year and the year before to include number of units on market and average prices. Condos maybe a new player from past years. Is all this data on resells or how much is new construction? We already see new construction as a bigger player next year with at least three new developments going in.
Slight Change in Subject: Did we ever hear why APCO did not auction leased lot this year? I know we had some speculation to include over crowing and septic law changes.
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| Name: |
greycove
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| Subject: |
Prior MLS report
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Date:
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10/11/2006 2:37:02 PM
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You posted the following on 9-26-2006
Maybe condos are being overbuilt. As of last week the MLS site had 376 properties for sale, of which 110 were condos. Only 9 listed were for Crowne Point, so the real number is actually larger. Musselwhite Group has 39 for sale somewhere in the vicinity of Chuck's Marina. There were 44 condos for sale in Stillwaters. However, 389,000 is in the lower 20% price range of all condos and would rank 5th lowest for Stillwaters so they may not want to get greedy if they are particularly interested in that building.
Question:
That seems to be a big jump from 376 to 444. Up 68 properties. Your first post was only about 2 weeks ago. What was the date of the MLS you reported above?
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| Name: |
Osms
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 2:59:40 PM
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As we know the allotment of lots to be put out to bid (30 lots) were pulled off the market at the last moment this past June. I talked with APCO personnel and was told they were reviewing the contracts and wanted to finalize any changes before bidding. They also had put a freeze on changes to existing contracts, which may explain why an abnormal number of leased lot homes are on the market. Banks want the lease to last at least as long as the mortgage and APCO had been extending leases upon request to accommodate leasees.
To top that off, realty speculators jumped into the lease bids last year and have built $175K-200K homes that they are trying to sell for $450K to 525K--a plan that ain't working! When more realistic prices are asked the properties will move.
I think condos are already overbuilt. Yesterday Russell had 18 Ridge homes listed, I believe.
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| Name: |
boataholic
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| Subject: |
Prior MLS report
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Date:
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10/11/2006 3:28:09 PM
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Sorry, my reporting is inconsistent. On the post several weeks ago I eliminated what was marked pending and what was not on Lake Martin. If you subtract the 34 currently pending and the 26 on some body of water other than Lake Martin, you have 384 as of this morning.
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| Name: |
Harborcon
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| Subject: |
lake level
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Date:
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10/11/2006 3:56:55 PM
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What septic law change? And when did it take effect?
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| Name: |
Feb
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| Subject: |
lake level
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Date:
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10/11/2006 4:15:15 PM
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I can not answer your question with specifics. I am of the understanding the Perc. test is now more stringent. Approval requires more test holes than in the past. The exact number, when it changed, and whether it is a State or Federal law are things I can not answer.
You may want to performa a Forum search. I can not recall whether someone gave the answers back when it was discussed.
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| Name: |
Harborcon
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| Subject: |
lake level
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Date:
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10/11/2006 4:22:58 PM
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we just had perc tests done in June, so I imagine we are within the new rules and regs. they drilled three holes in two separate sites (uphill and down from the current site) and both were approved. because the engineer said the waste might leach into the well water, before (or during) replacement of the current system, we just have to find someone to fill in an old well (not used for 25+ years since we hooked up to city water - AAARRRRGGGGHHHHH). Thanks for the info.
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| Name: |
JIM
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 5:50:46 PM
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These are call flippers, I call them griddy bottom feed. When APC puts up lots to bid on, there should be a requirement that the successful bidder live in that place for at least 7 years. This mite get rid of the low life scavengers.
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| Name: |
Osms
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 6:05:48 PM
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Jim, I like you thoughts on bottom feeders, but I've been to three bids and if builders/speculators were not bidding only about half of the lots would go each year and at much less money for APCO.
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| Name: |
Feb
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 6:19:18 PM
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Hey JIM, Why in your opinion are these investors or entrepreneurs such bad people? What is different between their activities and stock investors or commodity investors? Are they different than the person who builds an office building or a storage rental business to lease space? How about a car dealer who hopes to make money by stocking his lot and hoping to sell to buyers?
Am I missing something here?
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| Name: |
Lakeman
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 7:02:55 PM
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Jim are you talking about " white trash ", " trailer trash ", " low-lifes " or what?
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Feb, once again you said what I wanted to say before I said it .
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| Name: |
JIM
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 8:02:47 PM
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Yeah FEB, what you are missing is a person, blind bid on a lot and build a place to live in and enjoy the lake. Not compete with some commerical A$$HOLE that wants to build a shotty house and stick someone with the lease payments and a large note. You could put him in the same catogery as a Car Salesman or real estate agent.
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| Name: |
Feb
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 8:09:37 PM
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Well JIM, I suppose it could happen the way you stated I know for a fact, this is not always the case.
You have made an assumption, and you know what your Father said about assumptions. Don't argue with him since he was a wise man.
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| Name: |
JIM
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| Subject: |
APCO leased lots.
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Date:
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10/11/2006 8:33:57 PM
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Lakeman, you know exactly what I`am talking about. It`s a person that gets awarded a lot., for say 12 grand. Builds a 150 grand house, and sells it for 400 grand. I bid on the same lot and want to build a place that I will live in for the rest of my life. I bid 12 grand on the same lot, I think I should get that lot if I sign a lease for a 7 year none transferable lease. SAVY
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