The recent drought on Lake Martin has threatened to lower the water level below the intake valves of Elmore County. They are extending the intakes to deeper water.  This video was made on 10–26–2007 at the County’s intake station, which is on the Little Kowaliga branch of Lake Martin.  To get there you go to Elmore County road 80 and take Lakepoint Road to Wavecrest Drive.  Click on the “play” symbol in the middle of the video below to watch.     To the link on the clip on Lake Martin Voice, click here. Related Posts: Lake Martin Drought Hits The Weather Channel Video 10/30/2007

The drought this year has threatened to lower the level of Lake Martin to below where the intake valves for the water works of the City of Alex City are located. The City has had to extend their intake valves to deeper water.  This video was filmed 10–26–2007 on the Tallapoosa River just above River North Marina.   Click on the “play” symbol in the middle of the video below to watch it.      Or you can click here to see the video on Lake Martin Voice. 10/30/2007

Lake Martin HOBOs President Jesse Cunningham announces that Alabama Power is taking a major step by requesting to hold more water in the lake during the next few winters.  Cunningham reports in an email, "I received word on Friday from Charles Stover with Alabama Power that they have just filed a request with FERC" to increase the winter water level to 483 from 480.  Three extra feet spread over 44,000 acres means that we would need a heck of a lot less rain to get to full pool of 490.This will please Lake Martin property owners that might have access to the lake at 483, but not the normal winter level of 480 msl.  The higher winter water level will give more recreational opportunities to boaters, skiers, and anglers.  The higher the water, the easier it is to launch a boat, and the eas... 10/25/2007

The winners of the 2007 Nobel Prize in Economics, are advising buyers to act now on Lake Martin.OK, OK, maybe Leonid Hurwicz, Eric Maskin, and Roger Myerson haven't come right out and literally said that, but a quick review of their work should tell you that they would advise it.  Their work laid the foundation for mechanism design theory, which attempts to explain how sellers and buyers allocate resources in the real world.Our old friend Adam Smith describes the theoretical world of free market capitalism, where buyers and sellers have perfect information.  If a seller has 100 widgets, he sells exactly 100 for his lowest price and has no one asking for more.  Exactly 100 buyers show up and buy them at their highest price, and no one walks away empty handed.In the real world, however, i... 10/18/2007

The historically harsh drought that has hit Lake Martin in 2007 has been highlighted by The Weather Channel Network.  They sent reporter Julie Martin (no relation) to shoot a video spot that aired last night.   Click here for the video.  If for some reason it doesn't auto play after the commercial, look to the right and select the video titled "Drought and no water to drink."The Alex City Outlook also reported on the video.Mostly, I think it's a pretty good report.  I would have liked her to point out that right now it is about 3 feet below the winter water plan, or, 3 feet lower than it normally would be.  Not 13 lower.  Still, maybe reports like this will help Alabama Power in its appeals to the Corps of Engineers to allow less downstream flow.Incidentally - my Dad's real estate offic... 10/10/2007

If you own Lake Martin waterfront property that is in Elmore County, chances are that your assessment (and therefore property taxes) went up this year.  I have heard lots of anguish from taxpayers that were shocked by their increase this year.  I don't know that those in Elmore County are any worse than Tallapoosa or Coosa, but ElCo has been hit hard this year.  Property tax rates have stayed the same, but when they raise your assessed value, your taxes go up anyway.If you disagree with your assessment, there is an appeals process.  You will need to call the Elmore County courthouse at 334-567-1428.  They only allow you to appeal for a certain time, so if you disagree, hurry up.  Be warned - I have heard of some taxpayers' appraisals actually going UP after an appeal.  I guess after scr... 10/03/2007

Real Island Marina - one of Lake Martin's older full service marinas - is located in Elmore County on the southwest side of the lake.  It's close to Lake Martin landmarks such as Kowaliga Marina, Kowaliga Bridge, Willow Point, Parker Creek, and Sand Island.  The Real Island / Little Kowaliga area is popular on Lake Martin.  Since it is relatively close to Montgomery and Birmingham, homes for sale in the Real Island area  are typically sought after by lake goers from these cities.Real Island Marina sits on Little Kowaliga Bay, at the edge of the old Little Kowaliga Creek.  It used to be an independent marina, but several years ago it was purchased by Lake Martin major landowner and real estate developer Russell Lands.  It is now part of the group of 4 marinas that Russell Lands owns on L... 10/03/2007

Alabama Power owns and operates the hydroelectric Martin Dam, which impounds the Tallapoosa River to create Lake Martin.  The Federal Energy Regulatory Commission (FERC) - regulates Alabama Power's operation of Martin Dam, and its effect on the water flow downstream on the Tallapoosa River, as well as any economic, environmental, and other impacts in the Tallapoosa River Basin.Every 25 years Alabama Power must apply to FERC to renew its license to operate the dam.  As you can imagine, it is a really big deal, and a lengthy, red tape filled process.  They are required by FERC to perform all kinds of studies - water quality, water quantity, erosion and sedimentation, wildlife impact, economic impact - just to name a few.  Other regulatory agencies, such as ADEM, also get involved, suggest... 09/27/2007

Most Lake Martin real estate observers now recognize that the sellers' market is over, because all real estate is local.  In fact, we are in a buyers' market.  For those who are in doubt - a buyers' market means that the buyers have the advantage - IT'S A GOOD TIME TO BUY.Market forces in real estate shift back and forth like any other market in free nations.  We can learn about what might happen in Lake Martin by looking at other markets - like one of the most high end markets in the nation - Silicon Valley.Recently I came across an excellent post by Patrick Kapowich on his blog - Silicon Valley Broker.  He covers some excellent points about different parts of the real estate market cycle.  We at Lake Martin would do well to read and learn.I love his first sentence describing the chang... 09/25/2007

Russell Lands is hosting the "Annual Showcase of Homes" at its newest Lake Martin development - The Ridge.  The showcase is happening over two weekends - September 15 and 16 as well as September 22 and 23, 2007.  Many of the builder spec homes that are for sale will be open to the public to tour.  Russell Lands is also having the Grand Opening of The Ridge Club on September 15.I am not sure which or how many of the The Ridge spec homes that are currently for sale will be in the Showcase.  By my last count on the Lake Martin Area MLS, there are about 35 homes and 8 town homes (The Ledges at the Ridge) for sale right now in the Ridge.  In the Spring Home and Boat Tour, (the last "parade" they did) I think they had like 14 or so homes available.Click here for more 09/13/2007

As the Lake Martin real estate market shifts to a buyers' market, away from sellers, what does this mean?   If you are about to sell or buy waterfront property, how can you use this to your advantage?  What changes can we expect?  We can guess a few possibilities from studying other markets around the nation that have been experiencing this phenomenon for a longer period of time.  I'm not saying that all of these will happen, but they are strong possibilities:1. More pizazz from sellers - there are 5 times as many waterfront properties for sale now as there were in 2005.  More competition means Lake Martin sellers need to do more to get noticed and get paid.  Some examples:a. more pictures - too easy not to do itb.  home staging- a mustc.  talking homes - look for a sign on the home tha... 08/30/2007

This year has been good to Lake Martin developer Russell Lands.Broker Steve Arnberg was interviewed by the Opelika - Auburn News recently about the sales trends on Lake Martin.  Arnberg said that, while low water levels on Lake Martin had affected sales, this year was still strong enough to qualify as their second best.Arnberg is quoted as saying "It's not as good as last year and we can't necessarily say why, but (sales) are as good as the year before."I assume that means that Russell Lands has sold about the same amount of Lake Martin waterfront property this year as they did in 2005, but not as much as they did in 2006.My questions on this:Click here to read my 3 questions... 08/27/2007

The Ridge - Russell Lands' newest Lake Martin development - is near to completing its Ridge Clubhouse and Pool Area, while Phase III construction is ramping up.I popped by The Ridge last week to look at some lots in Phase III.  Phase III - which stretches south towards the Dixie Sailing Club, which is Lake Martin's largest sailing organization.  Phase III already has a few spec homes on the MLS, and builders are already started a few custom builds. Originally, Russell Lands had planned to move Dixie Sailing Club out of The Ridge to their new digs by Labor Day 2007.  But this letter from Russell Lands General Counsel Steve Forehand has forestalled that trail of tears until Labor Day 2008.  Maybe they made this decision because sales in 2007 have not been as brisk as 2006.  Who knows.  Th... 08/14/2007

The Lake Martin real estate market has slowed way down - it's no longer a sellers' market.  Who is responsible?One man - Adam Smith.In 1776 Smith established himself as one of the most influential economic philosophers when he penned Wealth Of Nations.  He described the natural economic forces that have existed since the caveman wanted to trade his neighbor one rock for two bones.  OK, so maybe he's not responsible for the slowdown, but he was the man who so eloquently described what is  - Supply and Demand.That's right - the Lake Martin real estate market has slowed down because of simple supply and demand.  Not because of the drought.  Not because of the Army Corps of Engineers, not Alabama Power, not Russell Lands.  Mr. Smith's omnipresent Invisible Hand has suppressed the number of ... 08/05/2007

 Lake Martin has been a victim of the 2007 drought that has affected Alabama and much of the southeast.  The lake level is down to 480 already, which is the normal winter level.Apparently in 1941 it was worse.  50 feet down is about as bad as it gets.  I think back then they used to bring the level down in the winter by 30 feet anyway, so maybe the 1941 drought's true effect was 20 or so feet.  Since this picture was taken in November, I am sure there is some effect of the winter level.Still, 50 feet down is pretty bad.  I was shocked to see this in an email that was circulating around.  Maybe someone will debunk this as an urban legend, but at the very least we can be glad that we don't have to make up 50 feet this spring.Click here for the entire article... 07/31/2007

What is the real estate market like on Lake Martin right now?  I own waterfront property, should I sell?  I want to buy Lake Martin waterfront property, but is it still a crazy market?These are questions I hear constantly.  Both potential buyers and sellers of Lake Martin real estate want to know if changing conditions will benefit them.  To be sure, the water is way down, and so are the numbers of real estate transactions.  I will cover cause and effect in a later post.  But for now, let's just focus on one question: Is Lake Martin still a sellers' market?If you talk to 10 people, you get 10 different answers, ranging from Pollyanna agents who still think it's a sellers' market to Chicken Little bubble barkers who act like property owners are literally throwing money into Lake Martin e... 07/23/2007

Governor Bob Riley has declared war with the Army Corps of Engineers over the Lake Martin Water level.Apparently he is sick of seeing this drought affect Lake Martin's water level drastically, while reservoirs that are upstream (read: in Georgia) haven't felt the hurt like we have.  The Army Corps of Engineers regulate the flow on most if not all of these dams.  Riley contends that they need to release more water in Georgia to help Alabama.Click here for the rest...... 07/20/2007

Have you had Lake Martin waterfront property all of your life, but you're tired of the Johnny-come-latelys who can't find Chimney Rock without a GPS?  Or maybe you're new to Lake Martin, and have heard enough hot air from old timers that think they should have shut the gates of the lake back in 1958?Here's a way to way to shut both of them up.  CLICK HERE TO FIND OUT HOW... 07/13/2007

Due to many of you asking, here is more information on the auction for the 20 waterfront condos at Harbor Pointe, Stillwaters Development, Lake Martin, Alabama. The sellers of the Harbor Pointe condos will do the absolute auctions first.  The high bidder on the first one will get a free boat slip.  The high bidder will then select which and how many condos that he/she wants at that price.  So if the high bidder selects only one, then they do another absolute auction for the remaining 4, and so on, until there are no more.  Then the sellers will get together to decide if they want to do any more as absolute.  But you know that at least there will be 5. They not decided when exactly that they will auction the boatslips.   Please note the auction will start at 11:07 AM.  You pay a 10% buye... 07/11/2007

Lake Martin waterfront condo buyers flock to the condo auction at Harbor Pointe in Stillwaters.Roebuck Auctions held an auction at Harbor Pointe Marina in Stillwaters last Saturday, July 7, 2007.  The bidding started at 11:07 AM, selling 20 units in the Harbor Pointe Condo development.  Chris Boden, representative of Roebuck Auctions, stated he thought the auction went very well.  He estimated that there were about 500 people in attendance and about half were registered bidders.  Boden confirmed that all 20 condos were sold and are under contract to close in thirty days.Boden went on to say that the boat slips were not auctioned that morning.  They were pulled from the auction due to a "legal snafu" that the sellers were currently working out.  He said that 24 slips are still available,... 07/11/2007