Community & Real Estate
Value is in the eye of the beholder

Wanda Vassallo tells a story about a gem dealer who was shopping at the Tucson Gem and Mineral Show when he noticed a blue-violet stone the size and shape of a potato.  He looked it over, then as calmly as possible, asked the vendor, “You want $15 for this?”  The seller, realizing the rock wasn’t as pretty as others in the bin, lowered the price to $10.

The stone has since been certified as a 1,905 carat natural star sapphire, 800 carats larger than the largest stone of its kind, with a value of $2,280,000.  It took a lover of stones to recognize the sapphire’s worth.

Years ago, this writer learned that looking at lake property was a lot like looking at diamonds in the jewelry store. They are all beautiful, but some cost more than others.  It took a lot of time to sort through the gems to find just the right one from a size, shape, color and budget standpoint.  Diamonds are beautiful, but there is only one right stone for each person and occasion.

Everything that touches Lake Martin is beautiful, but not everything is of equal value, and in this economy, value is difficult to determine.  It is as if someone changed the rules.  But actually, the rules have not changed.  There is still a simple influencer of value --location, location, location.  The closer a piece of property is to a key convenience or amenity, the higher the value compared to an identical property farther removed.

Russell Lands has 25,000 acres and more than 200 miles of shoreline on Lake Martin, arguably the most beautiful lake in the country, and therefore a great location.  On our property, there are four world-class marinas, one of the south’s best golf courses and country clubs, a world-class, resort-style swim-tennis-fitness-fun center, 80 miles of walking-running-biking-equestrian trails and world-class shopping and dining.  Those are all great amenities that enhance the location’s value.

This tremendous investment in amenities was made to enhance the experience of coming to Lake Martin.  Since our neighborhoods are the closest to these amenities, they receive the greatest uplift in value.  Creating amenities is not all that we have done to enhance values.  Over the past several years, we have broadened the selection of property types from which to choose. 

Eight years ago we offered primarily one- to two-acre lots with several hundred feet of shoreline.  A brave soul could find a contractor and take on the challenges of a long-distance building project.  Now, we offer townhomes, cabins, cottages, homes built for sale and homes built to suit by a qualified and talented team of architects and builders.  Recent designs give the purchasers the opportunity to purchase waterfront homes starting in the $700,000s and ranging to the priceless. (See the newest, affordable home in The Ridge here.)

There are some very attractive values available today.  While we have not dropped our prices to $10, we have taken a considerable amount of time to make sure that our property is properly priced in today’s market. (See for yourself.)  We have put together a team of the finest designers and craftsmen to create the perfect lake place at very attractive pricing and terms.

We invite you to stop by The Discovery Center in Russell Crossroads to see all of the exciting products that we have to offer.  If you can’t stop by. give us a call at 877.215.7011.  Who knows, you might just find a “diamond in the rough”.