Smith Mountain Lake Real Estate

     

    Smith Mountain Lake Real Estate

    Smith Mountain Lake Realtor Noreen Hartkern

     

     The lake offers a wide range of housing types and real estate prices. Lakefront one-bedroom condominium resales start at $150K -- while extraordinary single-family homes, on large level lots with Smith Mountain Lake's best views, can top $7 million, and a little known fact is that there are homes on the lake that have been tax-assessed (which is typically below or just at retail market value) for over $20 million! They're just not on the market!

     With 500 miles of shoreline, you can find a first or second home in a quiet cove with just a few neighbors in sight -- or retire to a well-planned community with shared amenities that include swimming pools, boat slips and lifts, and private golf courses.

    Smith Mountain Lake real estate is diverse, and the slower 2008 real estate market has produced some attractive bargains around the lake. You can find an older lakefront home on a gentle lot for less than $600K. You can spend as little as $30K for an undeveloped off-lake lot with no water access, $75K-$100K- for an undeveloped off-lake lot with water access or a $100K-$170K deeded boat slip, $300K-$1 million for an undeveloped lakefront lot, $275K for a new off-water single-family 3-bedroom home, $400K for a recently-constructed lakefront 2 bedroom condominium with boat lift, $900K-$5 Million for a lakefront home with a mountain view, $750K for a 3000-square-foot lakefront retirement home in a premium development with its own golf course -- or $2+ million for one of the lake's finest 8,000-square-foot homes.

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    If you're planning to buy a condo or house then offer it as a vacation rental to help pay the mortgage, be sure to first check county, subdivision, and homeowner association rules and regulations. SML "vacation rental" restrictions and prohibitions are increasing as the popularity of those vacation rentals grows.

    In addition, if you are going to build, you want to protect yourself by hiring a licensed surveyor and making sure that your idea of home-placement is equal to the lake setbacks as well as, the ACTUAL location of the 100-year flood plain. Many of the old plats mark the "approximate location of the 100-year flood plain".

    Most homes on the lake were built above the "100 Year Flood Plain" above the 803' contour. The lake is said to be at "full pond" at 795' above sea level.

    In addition, there is a wide variety of Smith Mountain Lake Commercial Building sites available, from condominium, condotel sites, to waterfront restaurants and marinas, and even just off-water, commercial restaurant pads available in Westlake and the surrounding areas.

    If you have any other questions about the lake, be sure to visit me on the web at: http://smithmountainlakefronthomes.com/

     

     

     

     

     

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      All Photos on this site Courtesy of Noreen Hartkern 2001-200
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