The real estate at Smith Mountain Lake is moving on all sides of the lake. I know you do not want to be pressured to buy real estate but you may have to wait for another 10 years for another great buying season if you do not act soon! The Bedford County side saw, 6 waterfront home closings since January 2010, till today March 7th, 2010. Some of these are those great deals that people snatched up in January and December of 2009.
Franklin County has 10 in pending since January 1st of 2010, and over 11 closings since January 1st 2010 till today, March10, 2010. So if you have not decided yet, now is the time, if you really want to buy a Smith Mountain Lake waterfront property.
The prices for the homes sold range from 149,000 for waterfront residential to over 1,100,000. So of these only 3 closed under $500,000. A lot of those deals are nearly gone now. So if you want to buy a lakefront home on Smith Mountain Lake time to make a decision.
Of course if a vacation rental home is what you want and have that 1031 ready, then you have some great buys, but again you need to come on to the lake and get your check book out. Some of us who live and play at the lake are curious on why people are waiting so long, since we realize this is the last time you will see prices like this with mortgage rates like this. As a Broker I have had some of those closings and will have some of the ones I noted above coming up and understand my clients have gotten a great buy at the right time and place. So when you are ready, give me a call, we still have about 200 lakefront homes for sale right now. If you need a quick vacation look at our Smith Mountain Lake rentals or visit Smith Mountain Lake State Park.