Visit the Lake on us!

If you are itching to explore the endless possibilities in lake investments but caught up in the worry of gas prices, here is a great solution! Give us a call and arrange to look at property exclusively with us, and we will give you a free night stay at Lovestone Inn on Smith Mountain Lake.

Lovestone Inn is a stone Bed & Breakfast with beautiful lake and mountain views. The inn has great amenities including gardens, acreage to explore, cozy lakeside deck, a boat dock for swimming and boating & a beach area perfect to enjoy an afternoon cocktail and discuss all the great lake homes we visited. Lovestone Inn will give you the feel of living on the lake while you visit.

A little background on the Inn. Lovestone Inn was purchased by one of our many happy customers. When Dawn Spencer and Tom Zirkelbach were ready to retire to the lake from their Chicago home, they called us explaining their need for a property that would be feasible to expand into a Bed and Breakfast. We found the perfect place, the beautiful stone manor home with acreage to give it a private setting on Smith Mountain Lake and bed & breakfast allowable under county regulations. With their total trust in us and our guidance and extensive digital photos, they quickly purchased Lovestone sight unseen, from Chicago. They have added many of their special decorating touches and unique ideas over the years to turn this into a very special lakeside retreat. Dawn and Tom added the renovations of a stone garage, which Keith converted into the beautiful guest cottage named Pebblestone. The Inn is a lovely place to relax and get the true feeling of lake living. Voted best place to stay on Smith Mountain Lake, Lovestone Inn lives up to it’s reputation.

As investments go, Smith Mountain Lake can’t be beat. Prices are still lower than other regional lakes and there area many great deals to be found. Brisk activity in the lower price ranges for lake homes ($350,000 to $500,000) has the inventory a little picked over as we move out of Spring and into Summer. There are new homes coming on every week, with savvy buyers and their agents snatching them up pretty quickly. We keep our buyers informed of the great deals as soon as they hit the MLS through our Great Deals Email List (go to www.SeeTheLake.com to be added to the list). On the lighter side, the condo market is going strong with great deals to be found too. Condos are starting at $139,000. Lake building lots have remained high, with only slight reductions, as investors are holding on to them for future years. I do have two nice lots listed that are in the $270,000 range, a really good buy!

The best price range to be looking in right now is the $500,000 to $700,000 listing price for lake homes. Don’t be put off by these listing prices. Big reductions can be negotiated off the asking prices when we represent you. Prices have bottomed out, but the inventory in this range is fantastic. You will be able to find a breathtaking lake home with all the big pluses… big lake views, beautiful dock, elegant upscale home, and a sound investment that will grow in the future, when you look in this range.

What ever price range you are in, lets get started finding your perfect lake get-away. Call or email me today! Looking forward to hearing from you.

Carol Myers, Owner/Broker 540-420-1327 cell

Email SeeTheLake@msn.com

See The Lake, Realtors, Inc. 540-721-1726 office

Let your IRA build BIG time in the real estate market

Is your investment taking a beating in the stock market? Do you have an IRA that you need a better return on? Now is a great time to turn that low-growth IRA into some big bucks for your retirement. Buying real estate with your IRA is easy & now you can take advantage of those great deals at Smith Mountain Lake. Our inventory is high & some sellers are reducing their properties for a quick sale. Buying an investment property with your IRA lets you earn monthly income straight to your IRA account and also builds for your future retirement, as your property goes up in value over the years you hold the IRA. When the time is right to retire and use that retirement income– your home will be ready for you, purchased at today’s low prices. What a great deal!

From start to finish, we help you get the best investment property for your IRA account. From searching the MSL for those great deals on the lake, to referring you to the right companies to correctly set up your real estate IRA account, to using local closing attorneys that are experienced in handling our customers real estate IRA closings– we are here for you every step of the way. When you close on the investment property, we are still here for you. With our experienced property management team, we can make sure your investment is handled properly and according to the tax guidelines, to keep your investment safe, profitable & growing.

Give us a call today. We would be happy to tell you how we have helped others turn their decreasing stock market investments into healthy, growing real estate retirement accounts. We can get started making your investment in the future as strong as it can be. Call us today to get started. Looking forward to working with you.

Carol Myers, Owner/Broker

See The Lake, Realtors, Inc.

SeeTheLake@msn.com

540-420-1327 cell

540-721-1726 office

Great Deals, Sound Investments at the Lake

Looking for a great place to put your savings? Looking for a great return on your money over the next few years? It is time to take advantage of our fantastic deals at Smith Mountain Lake. The smart investors I am working with, those that have some cash to invest and are comfortable holding their property investments for the next 4 to 5 years, are setting themselves up to ride the price rebound wave at the lake.
With flexibility on your part, we can find you a sound investment that will weather the current fluctuations in the real estate market and make you look like an investing genius, as your property value rebounds in the upcoming years. In the past eleven years of selling real estate at the lake, while introducing new buyers to our area, I have heard them say repeatedly, “If I had only purchased a lake property back then, I would have made a lot of money.” Now is the time to be that smart investor, buy now & let your investment make that money for you.
Interest rates continue to be at an all time low, with a wide variety of options in lending and lenders eager to work with you. Current lake prices are starting at about $300,000 for a lake condo, and around $400,000 for a lake home. Savvy buyers are getting some fantastic deals right now, as sellers are eager to move on and sell their properties.
One of the main points I tell my buyers is the best way to be a smart investor is to remain flexible, especially if you are in the entry level price ranges. Don’t look for that perfect lake house, look for the great deal. That means purchase a home that has good structure on the best lot you can afford. These are the homes that will increase in value the most.
If your investment allowance will let you purchase in the $600,000 range, our inventory is excellent, with some very beautiful homes available. This range would give you the best flexibility in available homes. The inventory is still good in the $400,000 & $500,000 range, but looking for that great deal will mean looking at a smaller or older home, or a steeper lot in some cases. The key items we look for when finding that great deal is as follows: How long a property has been listed for sale, what price reductions the seller has had, when did the seller acquire the property and at what price, and what mortgages they currently have on the property.
Having this history on the property pinpoints the potential properties that may be obtained at a lower offer. Many “new” purchasers at the lake, those that purchased their properties over the past two to three years, have mortgages that would not allow them to dip to the levels we are looking for. We want to find those that are ready to sell and able to sell at a low price.
A perfect example of a this is a sale I had this week, a lake home that was assessed in 2007 in the mid $600’s, on a very nice lake lot with a dock and plenty of views. We were able to get the home under contract for my purchasers more than $200,000 below the assessed value. Now that is a deal & a sound investment.

A few keys items to keep in mind when buying at a big price reduction:
1. Don’t get caught up in looking for that perfect house. Stay flexible and look for the great deal, or buy a building lot and build your perfect house. There are many building lots to choose from.
2. Preview homes in the price range above & below your comfort level. Only you know what your comfort zone is when it comes to how much you feel you can invest. By relaying this information to me, I can make sure to show you the best homes in that range, to find you the best deal possible. If your top range is $550,000, for example, we would want to look at homes that meet your criteria in the $600’s, looking for the seller that really needs to sell, as well as homes in the $500’s and $400’s.
3. The lay of the land & gentleness of the lake lot is more valuable than the home. Buy your home on the best lot you can afford. You can always update and change the home, you can not change the lot. This will pay off in the future.
4. Be ready to act quickly when a great deal comes up. Living at the lake gives the local investors an advantage. If you are close enough get here quickly and often to look at available homes, you can still take advantage of a quick reduction or a new listing priced low. Have your finances ready so that you can offer a quick closing, and be ready to jump in the car and look at these properties, once you receive my emailed information and pictures. Stay current and active, plan on finding that home as soon as possible, before our prices rebound.

If the time is right for you to invest at the lake, there are sellers who need to sell their homes. Let’s get out and find you a lake home and a sound investment. Give me a call or drop me an email. I would be happy to meet with you and show you what great deals are currently available at the lake. I am ready to help you make that sound investment.

Looking forward to working with you,

Carol Myers, Owner/Broker
See The Lake, Realtors, Inc.
540-420-1327 Cell
Email: SeeTheLake@msn.com