Be sure to get Your Smith Mountain Lake ‘Closer Than You Think!’ Virginia license plate.  We are excited about the program and equally anxious to meet the criteria needed.  Below is a condensed list of matters to be completed before final approval by the state of Virginia:

1. The Chamber must collect 350 prepaid applications by January 1, 2011.
2. Bill submitted for approval by the General Assembly.
3. The License plate design must be approved and processed by the Department of Motor Vehicles (DMV).
4. Once the bill is approved by the General Assembly, license plate production will begin. It will take approximately 8 months for completion and distribution.

While the procedure is involved and lengthy, we are confident that the Smith Mountain Lake License plate project will move forward in due process.

And YOU can help us achieve the first requirement (listed above) by submitting a prepaid application!  If you’re interested, here’s what you need to do:

Complete the DMV/SML Chamber application (Click Here to Download) and return it with a check (no cash, please) made out to “SMLRCC” in the amount of $10.  Bring by or mail your application and check to the Smith Mountain Lake Regional Chamber of Commerce, 16430 Booker T. Washington Highway, Moneta, VA 24121 to be added to the list of 350.  Once we receive 350 prepaid applications, the other requirements can be achieved and the state will begin production and distribution of the Smith Mountain Lake license plates.  They require about 8 months in production.  We are striving for a completion by Fall 2011.  If we do not collect 350 prepaid applications by the deadline, you will receive a refund.

Click here for more information.

An overwhelming number of homeowners are happy with their decision to purchase their home, despite a challenging housing market. According to a survey conducted by Bankrate.com, 90 percent of respondents said they had no regrets about buying their current home.

In addition, the survey revealed one positive outcome related to the current housing market – homeowners are far more knowledgeable about mortgages. Only 8 percent of homeowners didn’t know whether they have a fixed-rate or adjustable-rate loan, compared to 26 percent two years ago.

Among the small percentage who did express regret in their home purchase, one-third said they are disappointed they are unable to sell and move on and one-fifth said they couldn’t afford the mortgage payments.

The survey underscores the value homeowners place on their houses, both financially and socially.

Talk to homeowners in the Smith Mountain Lake area about what they enjoy most about owning. Ask a Prudential Waterfront Properties Realtor® about the emotional side of the transaction and how it influences the buying process.

Foreign buyers who understand the value of U.S. homeownership are taking advantage of the opportunities in today’s housing market. The NAR 2010 Profile of International Home Buying Activity survey revealed that international interest in U.S. real estate is currently driven by the strength of the dollar, the value and desirability of U.S. real estate and the emerging economic recovery.

Foreign buyers are estimated to have purchased $66 billion in U.S. property over the past year, which represents 7 percent of the total residential market. Twenty-eight percent of Realtors® reported working with at least one international client in the past year, a significant increase from 23 percent in the 2009 survey. Eighteen percent of all Realtors® were estimated to have completed at least one sale, up from 12 percent in the 2009 survey.

The survey revealed international buyers came from 53 different countries around the globe. Canada, Mexico, the U.K. and China/Hong Kong rounded out the top four. Talk to a Prudential Waterfront Properties Realtor® about international buyers in the Smith Mountain Lake area to find out what countries they come from and why they’re interested in owning a home in America.

Only for the rare few sellers, simply placing a “For Sale” yard sign on the front lawn creates a line of traffic filled with potential buyers. If you want buyers to see your Smith Mountain Lake home, you’ve got to find them.  The key is marketing.  To get the most exposure for your home, you should have a Real Estate marketing plan with clear objectives which specifically outlines the resources that will be used to reach potential buyers.

Each marketing plan should be designed around your property and capitalize on its most desirable features.  Therefore, you need to be honest with your real estate professional about the condition of your home, and the final price you are willing to accept for your home.

Next, you need to determine what marketing options work best to reach your desired audience. Generally there are two audiences you are trying to reach—home buyers and other real estate professionals.  Make sure the plan includes action steps on how each audience will be marketed to.

Seldom is the successful marketing of a property the result of a single activity. Your strategy should include a variety of marketing activities. Using only conventional marketing strategies such as Open Houses, newspaper ads and direct mail can limit your outreach. Most homebuyers now begin their home search online. Having a presence on your real estate professional’s personal and or company Web site gives you worldwide exposure. Besides the increased exposure, online listings also allow buyers to get a sneak peek of your home. Therefore, you may want to compliment the listings with plenty of photos and a virtual tour, which allows viewers to get a preview of your home without leaving their computer.

Also, don’t forget the power of email. Sending email flyers or electronic postcards are easy and cost efficient. During your planning, your real estate professional may recommend other marketing tools such as company/broker tours and an Open House. Work with your real estate professional to determine the best options for your market.

Besides identifying marketing tools, an effective marketing plan will also spell out specific dates for the marketing activities.  It should leave room for unscheduled events such as following up with sales professionals or brokers who preview or show the home.

Make sure the marketing plan includes checkpoints, possibly at the 15-, 30- and 45-day marks, to review activity on the home and determine if changes need to be made to the marketing plan or pricing strategy.

As the home seller, you should be kept in the loop on activity of your home. The marketing plan should state how you will be communicated with (mail, phone, email, in person) and the frequency (daily, weekly, etc.).

Of course these are just guidelines, but can give you an idea if the marketing plan your real estate professional has proposed to you has to be refined.  You need to be comfortable with the marketing strategy for your home.  An effective plan will not only put you at ease, but also give your home maximum exposure to increase your chances of a quick sell.

Just over one month ago, The Willard Companies and Prudential Waterfront Properties announced a partnership with the Atlas Companies and BB&T to market Bridgewater Pointe, the vacant waterfront condominium community at Smith Mountain Lake. Over a three week campaign which began Saturday, June 5 and ran through Saturday, June 26, Prudential Waterfront Properties accepted contract reservations that were entered into a drawing held yesterday, June 27 at The Waterfront Country Club.

Over the duration of the campaign period, Prudential Waterfront Properties received over 721 contract reservations that were entered into a blind drawing. Over 300 people attended the event.  Within 2 ½ hours, all 48 condos were under contract with a scheduled 30 day closing. The three- and four-bedroom condos sold between $199,500 and $535,500. A waiting list was compiled for those buyers who were not selected during the drawing.

 “We took a unique approach to market this particular project. In addition to the drawing format, our marketing and public relations initiatives consisted of a massive multi-media campaign in both traditional and new technology arenas. The results far exceeded our every expectation. It was a fantastic event. The energy and anticipation was truly an adrenaline rush,” according to Christopher Finley, Director of Marketing and Communications for The Willard Companies, owners of the Prudential Waterfront Properties real estate division.

According to Ron Willard, President of The Willard Companies who emceed the event, “It goes to show when you offer a quality product combined with attractive pricing, it will sell. This is not only remarkable for the real estate market, but for the entire Smith Mountain Lake community.”

The economy may be facing some challenges, but that didn’t stop many buyers from investing in vacation properties last year; especially at Smith Mountain Lake. NAR’s 2010 Investment and Vacation Home Buyers Survey shows vacation home sales rose 7.9 percent to 553,000 in 2009, compared to 513,000 in 2008.

Ninety percent of survey respondents plan to use their second home as a family vacation retreat. Only one in four plan to rent it to tenants. Twenty-six percent intend to make the property their primary residence in the future.

The median sale price of a vacation home was $169,000 in 2009, compared with $150,000 in 2008.

In contrast to vacation homes, investment home sales fell 15.9 percent to 940,000 in 2009 from 1.12 million in 2008. The median transaction price of an investment property purchased in 2009 was $105,000, compared with $108,000 in 2008.

Talk to a Prudential Waterfront Properties Realtor about the second-home market at Smith Mountain Lake or surrounding areas.

The Willard Companies and Prudential Waterfront Properties announced today they are partnering with the Atlas Companies to market Bridgewater Pointe, a gated luxury waterfront community offering 48 three- and four-bedroom condominiums at Smith Mountain Lake.

Prudential Waterfront Properties will be accepting contracts from 10 a.m., Saturday, June 5, through 5 p.m. Saturday, June 26. All acceptable contracts will be entered into a lottery sale with a drawing and brunch on Sunday, June 27, at The Waterfront Country Club. Contracts will require a $5,000 deposit with special BB&T financing options available to qualified buyers.  

 “We are very excited to partner with Atlas on marketing the Bridgewater Pointe project,” said Ron Willard, president of The Willard Companies. “This will truly be a once in a lifetime opportunity to own a luxury waterfront condo at Smith Mountain Lake. The timing is perfect with such attractive pricing on a top of the line quality product.”   

Starting at $199,500, Bridgewater Pointe, a maintenance-free community, offers three different architectural plans to choose from. The condos, ranging from 1,685 – 2,294 sq. ft., feature hardwood, carpet and tile  flooring, granite and Coriain countertops, Whirlpool® appliances, Andersen® windows and sliding doors, tile bathroom floors and showers, halogen recessed lighting, direct-vent gas fireplaces, walk-in closets and more. Additionally, the eight Penthouse units feature numerous designer upgrades including kitchens with Viking, Dacor, and Bosch appliances, a fireplace in the master bedroom, and upgraded lighting and flooring packages. Bridgewater Pointe features two reserved covered parking spaces per unit owner. A swimming pool and pavilion area will open later this summer.

In addition, Bridgewater Pointe purchasers can join The Waterfront Country Club with no initiation fee. Amenities include tennis courts, a swimming pool, fitness center, driving range, pro shop and fine dining. The Waterfront, which also features an 18-hole, PGA championship golf course, has remained one of the region’s premier golf course and country club communities.

 “We decided to partner with The Willard Companies and Prudential Waterfront Properties based on Mr. Willard’s long-standing reputation in the Smith Mountain Lake community,” said Don Foust, executive vice president of Atlas. “The Willard companies in succession have developed The Waterfront, The Water’s Edge, The Boardwalk, Westlake Towne Center and their most recent residential project, The Farm. Willard’s real estate company, Prudential Waterfront Properties, has been an established leader in selling premier lake properties since it was founded in 1987. The company has been associated with thousands of families across the country who have purchased lake-front property for their retirement, as a second home, or as a primary residence.”

“My reputation over the past 37 years stands as proof that I go the extra mile for the residents of my communities and my commitment is to do the very same for the Bridgewater Pointe project,” Willard said. “I grew up in the area and have spent much of my time giving back to the community and its residents. I’m proud that our company has weathered past recessions and current economic challenges and continues to employ more than 200 people.”

Smith Mountain Lake is a 22,000-acre recreational lake with 500 miles of shoreline and approximately 40 miles of property in three counties. The lake is about two and a half hours from Charlotte and Raleigh, N.C., and three hours from Washington D.C. It is a popular second home and retirement destination for upper-income residents from the nearby areas of Roanoke, Lynchburg, Greensboro, Raleigh, Washington D.C., Richmond and the Triad. The area provides local shopping and restaurants while a grocery store and movie theater is just minutes away at Westlake Towne Center.

Prudential Waterfront Properties will have an onsite sales office at Bridgewater Pointe with sales advisors available to answer questions and provide tours from 10 a.m. – 6 p.m., seven days a week. For more information about Bridgewater Pointe, contact Prudential Waterfront Properties at (800) 858-4653 or visit www.smithmtnlake.com.

Sunday, May 4 (Special Event)
11:30 a.m.—2:00 p.m.

A holiday dear to the hearts of many, Mother’s Day celebrates the love and support that mothers give to their families’ everyday of the year!  Honor your mom with a wonderful brunch at The Water’s Edge.  Mom will be sure to enjoy the omelets made to order, Belgian waffles, and much more. And – best of all – no cooking and no clean up.  Brunch will be served in the Ballroom from 11:30 a.m. to 2:00 p.m.  The cost is $26.00++ for adults and $11.00++ for children ages 5-12.

The brunch will have limited seating so make reservations early by calling 576-1556. The dining room will be closed for this special event.

Friday, May 14
6:30 p.m

The Water’s Edge monthly social will be on May 14th in the Eastroom Lounge.  All members and their guests are invited to “Meet Your Neighbor”.  Don’t forget to make reservations if you plan to stay for dinner.

Help Meet Your Neighbor! We will have a food bank collection again this month at Meet Your Neighbor. Help feed the hungry in our area by bringing items with a long shelf life, e.g., canned goods, boxed drinks, peanut butter, cereal, kid’s pasta, laundry detergent, toilet paper, paper towels, toothbrushes, and toothpaste.  Items will be donated to the Penhook Mobile Good Pantry sponsored by Lake Christian Ministries. 

This month Chef Jon Hanek’s buffet will feature Pan Seared Scallops, Seared Beef Tenderloin Medallions, Snow Crab Claws and much more, all for $26.00++ and a cash bar will be available.

Saturday, May 29
6:00 p.m.

Come out for an evening of food and fun on May 29th.  Cookout on the patio will start at 6:00 p.m.  Pony rides will be available for small children (weather permitting). Cost for the cookout is $25.00++ for adults and $11.00++ for children 5-12. A cash bar will be available.  Make reservations by calling 576-1556.  The clubhouse will be open on Monday, May 31st until 5:00 p.m.