Smith Mountain Lake, Virginia USA

Bring Offers

2009-07-10T06:51:00.002-04:00

Home Interest Rates Could be Affected Soon!

2009-06-18T15:06:00.007-04:00

The Fed is meeting June 23rd and 24th, and its actions could impact home loan rates! Don't Wait. Call your loan officer before the Fed acts so your situation can be reviewed and determine if there's anything you need to do.

AEP Process for Assignment of Dock Permits

2009-06-13T12:39:00.001-04:00

February 20, 2008
Process for the Assignment of Permits

All Occupancy and Use Permits issued after the implementation of the Shoreline Management Plan for the Smith Mountain Pumped Storage Project (August 29, 2003), all Occupancy and Use Permits that required prior approval from the Federal Energy Regulatory Commission, and all Permits for Non-Commercial Boat Docks/Piers/Landings must be assigned to new property owners if the property is sold, in essence resulting in a new permit for the new property owners.

All retroactive permits issued by Appalachian Power Company (Appalachian) for docks constructed between February 17, 1998 and April 14, 2000 may be assigned upon submission of a copy of the permit, a copy of the county approved drawing, and documentation from the county in which the structure is located indicating that the structure meets its building and zoning requirements. That information must be submitted along with the Assignment of Non-Commercial Boat Dock/Pier/Landing Permit form. No habitable structures will be assigned. However, should the property owner wish to expand or modify a structure that was approved retroactively, an Occupancy and Use Permit is required and if the property is sold, then this permit must be assigned to the new property owner.

Prior to any assignment, Appalachian Power Company will conduct an inspection to insure that the dock constructed is in compliance with the Occupancy and Use Permit issued and that no additions have been made. In addition, Appalachian will consult with the appropriate county building official to ensure compliance with their building and zoning requirements. Upon compliance with County regulations and a satisfactory inspection, Appalachian will issue a letter stating that as of that day and barring no modifications, Appalachian can execute the Assignment of Permit.

If there are any discrepancies discovered during the inspection made by Appalachian, the property owner will be notified in writing and given thirty (30) days to modify the structure as required by Appalachian.

If modifications to the project boundary have been made without prior approval from Appalachian, in addition to compliance with the permit issued, Appalachian will require that the project boundary be planted with native vegetation as mitigation prior to the issuance of any permits.

Upon satisfactory compliance with the Permit issued and any other outstanding permits issued and required mitigation actions, Appalachian will issue a letter stating that as of that day and barring no modifications, Appalachian can execute the Assignment of Permit.

Upon notice of closing/receipt of completed Assignment of Permit forms and verification of sale of property, Appalachian will inspect the property again and upon satisfaction of compliance, Appalachian will execute the Assignment of Permit and record the document with the Clerk of the Court in the County in which the structure is located.

Smith Mountain Lake ISO Ratings for Insurance Purposes

2009-05-01T13:49:00.003-04:00

Your waterfront property insurance rate is effected by the distance of your home to the nearest fireboats or fire department.

Location of fireboats on Smith Mountain Lake.

As of May 1, 2009Subject to changeContact person is Pete Lewis 297-0905

Three new fire boats are on order.

Their placement will be at the following locations once received.

Crazy Horse
Bridgewater Plaza
Virginia Dare Marina

Other boats
Mariners Landing
Smith Mountain Dock and Lodge
Saunders Marina

They hope to eventually have a boat at Indian Pointe.

The closer the boat the better the ISO rating for insurance purposes.

Debt Reduction and Wealth Building in Todays Economy Testimonials

2009-04-29T12:09:00.000-04:00

To: Kathy Curling
From: Marcia Saunders

Re: United First Financial

I have been on this program for almost one year and cannot begin to tell you how much I live this program. Not only has it helped to cut my mortgage term in third but also helped with other financial issues as well. It has also been an eye opener as to where all of our money was going.
I cannot begin to understand why anyone would not want to be a part of this program.

Marcia Saunders
Smith Mountain Lake VA

2009-04-09T17:04:00.004-04:00

Write-offs to Remember Deductions in the Loan Process

Write-offs are the government's way of rewarding taxpayers when they've done something the government likes. And to judge by the write-offs, the government likes it when people borrow money to buy a house. There are write-offs aplenty, many of which people often forget.Make sure your clients take advantage of every break the IRS will give. Here are a few they tend to forget:

Points: According to the IRS, origination fees charged as points must be paid for the use of money, (for example, to obtain a lower interest rate) in order to be tax deductible. Origination fees that constitute a "service fee" are not tax deductible. The question must be asked, "Does the fee apply to the use of money, or is it a service charge?"

Pre-payment penalties:Unforeseen circumstances often cause borrowers to pull out of their mortgages sooner than expected. Fortunately, pre-payment penalties are tax deductible, which helps ease the pain.

Pro-rated real estate taxes:Even if the seller sent the tax collector the check, chances are the buyer paid a pro-rated portion of the taxes for the year at closing. Be sure they know to deduct their fair share.

Pro-rated mortgage interest:Depending on when in the month the home sale closes, buyers pay either a hefty or a tiny amount of pro-rated mortgage interest for that month. Big or small, they can write that off. The Final Closing/Settlement Statement will show just how much they're due.

Home construction loan interest:As long as the construction period doesn't last more than two years before they make the new place their "principal residence," they can write off the interest for that construction loan.It pays to pay attention – all these write-offs can add up to some serious savings when tax time comes around.

Virginia State Corporation Commission License # MLB-662

First-Time Homebuyers Have Several Options to Maximize New Tax Credit

2009-04-08T09:45:00.001-04:00

Link to this information: http://www.irs.gov/newsroom/article/0,,id=205416,00.html

IR-2009-27, March 18, 2009
WASHINGTON — As part of the Treasury Department’s consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal to claim the new $8,000 first-time homebuyer credit for 2009 home purchases. For people who recently purchased a home or are considering buying in the next few months, there are several different ways that they can get this tax credit even if they’ve already filed their tax return.
The Treasury Department encourages taxpayers to explore these options to maximize their credit and get their money back as fast as possible.

“The new credit can get money in the pockets of first-time homebuyers quickly,” said IRS Commissioner Doug Shulman. “For people who recently purchased a home or are considering buying in the next few months, there are several different ways that they can get this tax credit even if they’ve already filed their tax return.”

First-time homebuyers represent a significant portion of existing single-family home sales. The expansion in the first-time homebuyer credit will make it easier for first-time homebuyers to enter the housing market this year.

Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before Dec. 1 receive up to $8,000, or $4,000 for married individuals filing separately. People can claim the credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.

The filing options to consider are:

File an extension. Taxpayers who haven’t yet filed their 2008 returns but are buying a home soon can request a six-month extension to October 15. This step would be faster than waiting until next year to claim it on the 2009 tax return. Even with an extension, taxpayers could still file electronically, receiving their refund in as few as 10 days with direct deposit.

File now, amend later. Taxpayers due a sizable refund for their 2008 tax return but who also are considering buying a house in the next few months can file their return now and claim the credit later. Taxpayers would file their 2008 tax forms as usual, then follow up with an amended return later this year to claim the homebuyer credit.

Amend the 2008 tax return. Taxpayers buying a home in the near future who have already filed their 2008 tax return can consider filing an amended tax return. The amended tax return will allow them to claim the homebuyer credit on the 2008 return without waiting until next year to claim it on the 2009 return.

Claim the credit in 2009 rather than 2008. For some taxpayers, it may make more financial sense to wait and claim the homebuyer credit next year when they file the 2009 tax return rather than claiming it now on the 2008 tax return. This could benefit taxpayers who might qualify for a higher credit on the 2009 tax return. This could include people who have less income in 2009 than 2008 because of factors such as a job loss or drop in investment income.
The IRS reminds taxpayers the amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000, or $150,000 for joint filers. Taxpayers can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

IRS.gov provides more information, including guidance for people who bought their first homes in 2008. To learn more about the overall implementation of the Recovery Act, visit http://www.recovery.gov/.

Toolkit for Small or Homebased Businesses

2009-03-04T14:34:00.003-05:00

Learn about a new toolkit for small or home based business owners

CONTACT MANAGEMENT MARKETING SYSTEM
PERSONAL DEVELOPMENT WEB MEETINGS TAX SAVINGS ALERTS

ALL IN ONE SIMPLE TO MAINTAIN PACKAGE

Small and home based business owners need tools in order to work smart and efficiently. This system is a complete tracking and marketing device that can be used to make your business more successful and easier to manage. Watch the video and see what the excitement is all about.

www.bizpack.com/kathryncurling

Sign up prior to March 16, 2009 and save the start up fee of $299

Fractional Ownership at Smith Mountain Lake

2009-02-11T08:21:00.001-05:00

Fractional home ownership, the system where multiple people own a share in one home, is popular nationwide as a way for people to afford to own vacation property. While other areas of the real estate market have slowed recently, fractionals sales have continued to grow at over 20%.

The soaring prices of lakefront property here at Smith Mountain Lake has made fractional ownership at the lake more and more attractive to buyers. "This is definitely the wave of the future in property ownership at the lake," said Jim Erler, developer of Silver Bay Owners Guild.

"The benefits of fractional ownership are many," said Erler. "It is an affordable, maintenance-free way to own property on the lake. So many people buy a property and then only manage to stay there a few weeks of the year. Much of that time is spent doing maintenance on the property. With fractional ownership, you get enough weeks access to the property to meet your vacation needs without paying for an empty house the rest of the year, and the managing company takes care of all the maintenance," Erler continued.

The concept is simple.
A single property is sold in, for example, 12 units. Each owner, who has a 1/12th deeded interest in the property, then has access to the property for approximately 4 weeks a year. A management company handles the bookings, oversees landscape maintenance, and takes care of repairs as needed. Silver Bay Owners Guild is now offering four waterfront cottages on beautiful Witcher Creek, located in the southeast corner of Smith Mountain Lake. 12 shares are offered for each cottage, providing owners with four weeks of carefree vacations while Silver Bay Management takes care of all maintenance and pays the taxes, insurance and other expenses. Concierge services offer stocked refrigerators and storage of "water toys", ensuring a hassle and worry free visit. Can't use all four weeks? Silver Bay Management will rent unused weeks for you.

Smith Mountain Lake has rich resources to ensure great vacations. There are five golf courses, boating, fishing, hiking, wineries and historical sites within an hours drive. There is always more to do than time to do it!Why own 52 weeks a year when you need only 4? If you need more weeks, you can buy additional shares.

Like conventional ownership, fractional equity typically follows real estate market trends, offering all of the benefits of property ownership. Since fractional owners have a deeded interest in the property, it may be sold or put into a will or trust. Pretty much whatever can be done with conventional home ownership may be done with a fractional.

Whether you are thinking of buying or selling property at the lake, you need to know about fractionals. Jim Erler, of Silver Bay Management, specializes in setting up and managing fractionals. He can be reached at 434.953.6747 or Info@SilverBayView.com.

For more on Silver Bay Owners Guild, visit www.SilverBayView.com/owners or call Kathryn Curling, GRI at 540.588.8958 to learn more. You can see a virtual tour of the properties online at www.SMLProperties.com.

Fractional Ownership at Smith Mtn Lake

2009-02-11T08:17:00.001-05:00

Real Estate Online Radio Show - Learn what's happening

2009-02-09T15:43:00.004-05:00

LISTEN TO A SNEAK PREVIEW/EXCERPT FROM THE SHOW

Real Estate Today will air online at www.RETRadio.com
Visit the site anytime after the premiere to listen to current or past programs.

Beginning on February 14, satellite radio subscribers can hear Real Estate Today on America's Talk, XM Channel 158, Saturdays 5-7 p.m. EST; Talk Radio, XM Channel 165, Saturdays 1-3 p.m. EST; and Stars, Sirius-XM Channel 102, Saturdays 6-8 a.m. and Sundays 9-11 a.m. EST.If you're in the Washington, D.C., area, you can listen to Real Estate Today on the show's flagship station, 630 WMAL AM, every Sunday from 1-3 p.m., EST, beginning February 15.
RealEstateToday@realtors.org

Charles McMillan, CIPS, GRI
2009 NAR President

Boating Safety Education Regulations in Virginia

2008-12-14T14:58:00.004-05:00

To report safety violations call 1 800-237-5712

Next boating safety class: January 31, 2009 9:00am-4:30pm

Saunders Fire Company building on Rt 626 (SML Parkway) in Huddleston

To register for the free course call 540 719-5100

The course is taught by volunteers with the US Coast Guard Auxiliary

There is money for real estate out there!!!!!

2008-12-12T13:48:00.001-05:00

Country Living 5+ Acres Boones Mill - near SML

2008-12-11T11:44:00.001-05:00

Privacy and Seclusion. Newly painted inside and out, Workshop/Garage/Crafts area
Great home!!!! See this one today.

Water access lot with boat slip

2008-12-09T15:27:00.003-05:00

Waterfront Lots and Land

2008-12-09T15:21:00.005-05:00

Just SOLD!!! Call we have others

Got water issues? Look into Culligan

2008-12-04T12:20:00.001-05:00

The Culligan Advantage

At Culligan, we understand how important water is to you, your family, and your home. Which is why when you trust Culligan with your water needs, we promise to deliver one thing: better water, pure and simple. And as the world’s leader in water treatment technology, we’ve been fulfilling that promise for over 70 years.

Discover all the reasons why Culligan is a better choice for better water:

• History – Founded in 1936, Culligan has been the recognized leader in water treatment for over 70 years

• Dealer network – Culligan serves over 90 countries, making Culligan the world’s water expert

• Local water experts – With over 700 Culligan Dealers in North America, they know the water conditions in their community and understand which solutions will work for their customers

• Innovation – Culligan’s world-renowned Research & Development and Analytical Lab are constantly seeking new solutions for tomorrow’s water. Today, Culligan proudly holds more than 200 patents worldwide in water treatment

• Technology – Culligan offers advanced, state-of-the-art water treatment technology like the Aqua-Cleer® Drinking Water System and Aqua-Sensor® water softener monitoring system

• Solutions – Culligan has the widest range of solutions available, with a solution to fit every home and every budget.

• Service – Culligan’s trained and certified water technicians are among the world’s best and offer the best service and maintenance in the industry

• Satisfaction – Culligan’s 100% Satisfaction Guarantee ensures that your Culligan Dealer will address your water problems. If you are not fully satisfied with a Culligan Product within 30 days after your purchase, we will give you a full refund – no questions asked. (Dealer participation may vary).

http://www.culligan.com

Smith Mtn Lake News & Real Estate Newsletter

2008-11-12T14:24:00.003-05:00

Visit http://www.clientdirect.net/news/?Pub=30997

Smith Mountain Lake News and Reports

Virginia Homeowners Alliance

2008-11-12T14:17:00.003-05:00

Want to know what's going on in the state of Virginia regarding homeownership. Join this free website and keep up to date.

http://www.vahomeownersalliance.com/

Now is the time to look and BUY at Smith Mtn Lake

2008-11-03T11:12:00.004-05:00

Now is the time to look seriously.Smith Mountain Lake real estate.
You have choices!

On November 2, 2008 On Market
354 WF Single Family
173 WF Condos/Townhouses
483 WF Lots
400 Water Access Lots
175 Water Access Homes

The search can be daunting if you go it alone.I know this lake and many of the properties. Start by signing up for the Home Buyers Scouting Report. Search the listings on your own. Save the ones you like in a notebook. Be notified of changes to those listings as it occurs. Let's get started!E-mail: Kathryn@SMLProperties.comCell: 540.588.8958

Family in need of household items

2008-11-03T11:09:00.000-05:00

Lyn Atkins is collecting furniture and housewares for a very needy family (single mom with three children of her own and may need to take in 2 babies as well). If you have any of the following that you would like to donate, please call Lyn at 520-5103 or email him at atkinslakeshore@embarqmail.com. He will be happy to pick up any items you have for delivery.

Living Room Furniture
Bed Frames
Bunk Beds
Bed sheets
Bath Rugs & Towels
Dishes & Kitchen Supplies

Smith Mountain Lake Market Statistics

2008-10-11T13:22:00.000-04:00

The local market at Smith Mountain Lake Virginia

2008-10-11T13:06:00.001-04:00

A MESSAGE TO SELLERS, October 9, 2008

Property is selling at a slow pace as we all know. Recent events occurring in the financial sector of our economy in the past several weeks are well documented in the news. However, we thought you might be interested in some of the opinions given to us by mortgage brokers and others whose ears are to the ground on these issues. The sky is not falling, they say. According to the National Association of Realtors, only 9% of homeowners have subprime loans. Of 100 U.S. households, 68 are homeowners. Of those 68, 46 have mortgages - only 3 of which are delinquent. Of those 3, only 1 goes to foreclosure. Recent failures of some large investment firms who bought troubled sub-prime loans on the secondary market were, some say, predictable, the result of poor lending decisions over time. An accumulation of bad loans made for profit, a percentage of which were doomed to fail, began the domino effect. Of course, this analysis is over-simplified as there are a great number of factors that brought us to this point. However, we are cautiously optimistic that effective remedies, some already in place, will restore consumer confidence in our economy.

A local mortgage banker puts it this way: “" Can you still get a loan?" The answer is a resounding yes at this point. We have not experienced any problem with a qualified client. The parameters on the loans have tightened and not everyone can get a loan. The stated and no doc loans of the past are gone and probably should be for the largest part of the qualified buyers. Stated loans were there for the self-employed borrower. And when Wall Street started buying stated W-2 loans, it was "Katie bar the doors." The Sub Prime loans are a thing of the past. We are back to good old fashion underwriting and if you can not afford it, you will not qualify. Let's face it, things got a little out of control and we all have to work to get things back on track.”

While we ponder the state of the economy, we also want you to know that we are still working hard to find a buyer for your property. There are buyers out there for our southwest Virginia lifestyle and there is money to loan to those buyers who qualify with good credit and reasonable down payments. If you are one of our county property owners, your buyer may qualify for VHDA rural financing with no money down. Yes, these loans are still available, but only to buyers who have good credit scores.

The main obstacle for the potential buyers of your home is getting their own home sold. Whatever solution comes out of Congress to get the wheels moving again should help to restore consumer confidence and allow people to get loans and buy homes again. But this won’t happen overnight, and in the meantime, we must be patient. If your particular situation warrants a quick sale, please let us know. We have ideas that can help, but the bottom line will be price. Lower the price and your property will be more attractive to the buyer who is willing to part with his money for what he considers a good deal. Some homes can benefit from staging, and we can help with that as well.

We are seeing some sales activity; however, buyers are being very selective, and are often making very low offers. It is the nature of the beast. It is our job to work with you to get the buyer’s price up to a reasonable figure that is suitable to you. Buyers of luxury homes are being cautious, but are out there buying. Currently there are 13 waterfront homes under contract in Bedford and Franklin Counties, not an encouraging number when you compare it with the 488 homes (including condominiums and townhomes) on the market. You may be interested to know, however, that of those 13 homes under contract, Lake Team Realty is involved in two of them, a healthy market share considering the size of our firm.

Thank you for understanding the market conditions we face as a Realtor, and please know that you can call us (540) 588-8958 or e-mail Kathryn@smlproperties.com to ask questions and get help making decisions that affect you and your property.

Kathryn Curling, GRI
Associate Broker
LAKE TEAM REALTY, INC.

Fractionals vs Timeshares

2008-10-02T14:49:00.002-04:00

Learn more about fractional ownership at Smith Mtn Lake

2008-10-02T13:09:00.002-04:00