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Drought affects area lake house sales

By Staff
Melissa Cason, Franklin County Times
The hot, dry weather is affecting everything from the lakes to fireworks displays. The drought is even having some effects on the sale of vacation rental property in Franklin County.
"Some of the houses that always have water year-round don't have water or very little water," Jim Alverson, real estate broker, said.
Alverson said that he has never seen the lakes so low. He said that he does not have many lake properties for sale, but the ones that he does have do not seem to be in high demand.
"Buyers think that they should get a deal now because of the water levels, while many owners think that they should wait to list their property until the water levels return to normal," Alverson said.
He added that the water levels will return to normal once the drought is over, so this is a temporary situation.
While it is an undisputed fact that the water levels are extremely low, there is a difference of opinion on the impact of lake house sales. Willodean Davis, broker at Davis Realty and Associates, said that the lack of rain has had no affect on her listings of lake houses nor does the time of year.
"If people want to live on the lake, they want to live on the lake," Davis said.
Davidson Realty in Russellville was also contacted for this story. However, broker John Davidson said that they did not have experience with lakefront property and, therefore, could not comment on the current market for such properties.
According to reports, all of Franklin County's lakes and waterways are reporting lower than usual water levels due to the drought conditions.