Category — News

For many people, buying a home after retirement is not on the agenda. But with the final days of the tax credit upon us, it may be time to take a second look at purchasing a home. In the boom days of the real estate market, many couples who were retiring decided to sell their homes at top prices. But, instead of buying, they chose to rent or maybe even spend time travelling. Well, now maybe a perfect time to become a first time home buyer… again!

If you have not owned a principal property in the last three years, you may qualify for the American Recovery and Reinvestment Act’s (ARRA) $8000 Tax credit for first time home buyers. Time is quickly coming to a close on the program that is scheduled to end on December 1st. That means if you are considering buying a home you must close no later than November 30th. First time home buyer can qualify for a tax credit of 10% of the purchase price. The maximum credit is $8000. You can find more information in the previous blog, Attention First Time Home Buyers in Franklin and Bedford County, VA! This is good news for retirees that may be ready to purchase a home again!

Smith Mountain Lake is a wonderful place to retire! There are many different types of communities and homes to choose from. With award winning golf courses to beautiful wineries, Franklin and Bedford County in Virginia are wonderful places to call home. If you are looking for an income producing property , there is even a winery for sale with a great family home on site. With the tax credit incentive; the time is perfect to purchase a retirement home now! Home prices are still low, but are starting to rise. In order to qualify for the ARRA, you should begin the contract process no later than October 15th! There is still time to find that perfect home!

Golfing, fishing, hiking and boating are all wonderful ways to spend your golden years! Franklin County and Bedford County offer all of that and more! If you want to see what kind of home can meet your retirement needs call Vicki Millehan! She has lived in Smith Mountain Lake for over 20 years and has been lake properties for over 18 years! Come for a visit, if you like it- move here!!

Golfing, fishing, hiking and boating are all wonderful ways to spend your golden years! Franklin County and Bedford County offer all of that and more! If you want to see what kind of home can meet your retirement needs call Vicki Millehan! She has lived in Smith Mountain Lake for over 20 years and has been lake properties for over 18 years! Come for a visit, if you like it- move here!!

Dear Water’s Edge Member,

I would like to thank you for your patience during the past couple of months with the condition of various greens. As you may be aware, we have struggled with a new disease called “Take-all Patch,” which attacks the root system of new greens. We have worked closely with Virginia Tech over the summer to correct the problems and we are seeing many improvements. The last couple of weeks have been ideal growing conditions and the weaker greens are recovering nicely.

During the course renovation there was much debate as to the type of fairway greens we should use. Currently, we have a mix of Bluegrass and Rye in the fairways along with some Bent. We chose to move forward with Bluegrass because of its playability and the color it provides year-round; however, we have not seen the results we were looking for with the new Bluegrass.

After much consultation and close guidance from Virginia Tech, we are making a change in the fairway grasses. This does not mean we will be closing the course, but we will be interseeding all fairways with “Memorial” Bentgrass, This is a creeping Bentgrass that is one of the top rated fairway grasses on the market. This means fairways will be able to be cut at lower heights and provide a pristine playing surface. In addition, we should be able to keep fairways drier throughout the year giving the ball more roll for distance.

Interseeding with the “Memorial” Bentgrass will begin next week in all fairways. It is important during the germination process and grow-in that we reduce impacts to allow for growth. Carts will be restricted to cart path and roughs only through at least the end of October.

We are excited about this change and are confident that you will see the benefits as the Bentgrass takes over in our fairways. The transition to the Bentgrass will take several years to occur but will offer a playing surface second to none.

Thank you for your continued confidence and please bear with us during this transition.

Ronald L. Willard
President
Willard Construction of Roanoke Valley, Inc.

Dear Water’s Edge Member,

I would like to thank you for your patience during the past couple of months with the condition of various greens. As you may be aware, we have struggled with a new disease called “Take-all Patch,” which attacks the root system of new greens. We have worked closely with Virginia Tech over the summer to correct the problems and we are seeing many improvements. The last couple of weeks have been ideal growing conditions and the weaker greens are recovering nicely.

During the course renovation there was much debate as to the type of fairway greens we should use. Currently, we have a mix of Bluegrass and Rye in the fairways along with some Bent. We chose to move forward with Bluegrass because of its playability and the color it provides year-round; however, we have not seen the results we were looking for with the new Bluegrass.

After much consultation and close guidance from Virginia Tech, we are making a change in the fairway grasses. This does not mean we will be closing the course, but we will be interseeding all fairways with “Memorial” Bentgrass, This is a creeping Bentgrass that is one of the top rated fairway grasses on the market. This means fairways will be able to be cut at lower heights and provide a pristine playing surface. In addition, we should be able to keep fairways drier throughout the year giving the ball more roll for distance.

Interseeding with the “Memorial” Bentgrass will begin next week in all fairways. It is important during the germination process and grow-in that we reduce impacts to allow for growth. Carts will be restricted to cart path and roughs only through at least the end of October.

We are excited about this change and are confident that you will see the benefits as the Bentgrass takes over in our fairways. The transition to the Bentgrass will take several years to occur but will offer a playing surface second to none.

Thank you for your continued confidence and please bear with us during this transition.

Ronald L. Willard
President
Willard Construction of Roanoke Valley, Inc.

D-Day Memorial. Tours will be offered throughout the day. If you just want to take the long weekend to enjoy the great outdoors, you may want to check out the presentation at the James River Visitor Center. You can also visit the demonstration at Peaks of Otter Winery on cultural history of the Southern Appalachians. From soap making to woodworking, there is something for everyone!

buying your own winery, there is something for everyone. So come visit and if you like it MOVE HERE! If you want to take a look at the Savoy-Lee Winery take the Virtual Tour! The price has just been reduced to make a great opportunity even better! For information, please contact Vickie Millehan at (540) 520-2401 or by emailing her for more details.

I am pleased to report that I have it on good authority that appraised values of homes on Smith Mtn Lake are coming in higher than expected.

There have been numerous appraisals (from various appraisal firms) recently completed for purchases and refinancing. Homes that were purchased in 2008 are now being refinanced because of 15 year rates in the 4.25% range and 30 year fixed in the 4.75% range. These appraisals are coming in HIGHER than their purchase prices of 2008.

In addition, underwriting of these appraisals is more strict than ever. Underwriters are taking a hard look at comparables sales. Even with the more strict underwriting of appraisals these loans are closing and interest rates are so low, it’s (almost) like borrowing free money.

Smith Mountain Lake – Abundance In Every Way

From farmland to recreational paradise. the Smith Mountain Lake region in Virginia is some of the most beautifully transformed land/water areas in the country. If you’ve been to Virginia, you know the state is among the picturesque of the national treasures. Amidst all the mountainous countryside there lies a three-county community in Southwest Virginia surrounding Smith Mountain. It is located just southeast of Roanoke, Virginia and southwest of Lynchburg, Virginia.

According to Linda Nardin with the Chamber of Commerce, with the building of Smith Mountain Lake Dam, created with the waters of the Roanoke and Blackwater Rivers, operational “full pond” status was reached on March 5, 1966. What resulted was a gorgeous 40-mile long lake with 500 miles of shoreline touching the shores of Bedford, Franklin and Pittsylvania Counties.

Originally built as a hydroelectric power project by Appalachian Power Company. the lake’s abundance of recreational amenities wasn’t initially imagined. Many residents living there when the lake was formed look back at the modest land prices in the early years – several hundred dollars per acre for lake frontage – and some sigh with regret at the immense financial opportunity lost. Today, those same building lots now can carry price tags of up to and surpassing $1 million.

The Chamber will tell you that the finest quality of life awaits those who relocate to Smith Mountain Lake, including incredible residential opportunities, a wide range of settings, a growing business community, and “small town” atmosphere. You’ll find it’s close proximity to metropolitan areas is just one of the characteristics that attract young professionals, growing families and retirees to the area.

Find your choice of lake front town homes, condo communities, a single family home with great lake views, a quiet vacation retreat, a mountaintop country home, or even a piece of rich farmland. The lake is surrounded by green mountains, rolling farmland, neighborhood communities, or almost anything you desire in location.

It’s no mystery why the lake has become a full-time home for many. Quite simply, there aren’t many places offering a setting that combines spectacular mountains as backdrop to a beautiful lake. Add a genuinely friendly atmosphere and a moderate climate to this mix. Mingle in the ever-growing selection of restaurants, retail centers, art galleries, active civic organizations and it all adds up to an unprecedented quality of life.

Today Smith Mountain Lake is far more than a source of clean hydro-electric power. The region has surpassed its image as a summer vacation spot. It has grown into a solid year-round economic center with a great growth potential still to be explored. That certainly makes it a great place to live, and a great place to work and raise a family as well.

Natural beauty is one part of Smith Mountain Lake’s attractiveness. Each season unfolds with breathtaking natural beauty unique to the area. A sprinkling of snow each winter evokes a festive Holiday spirit. Spring comes early and provides a blaze of brilliant azaleas, roadside daffodil fields, carpets of phlox and mountainsides colored with white dogwoods and red bud trees.

If you are a warm weather enthusiast, summers at Smith Mountain Lake are extraordinary with immense lakeside forests standing tall along the mountainside. The atmosphere is casual and the lifestyle inviting. Those who enjoy outdoor sports such as golf and fishing will be impressed with what they find. There are five excellent 18-hole golf courses at the lake.

Lake dwellers will tell you that nothing compares to gorgeous fall foliage at Smith Mountain Lake. Other amenities include the great fishing, which is unsurpassed in any season. Casual casters have found recreational fun with countless families capturing lifelong memories of “the big ones” caught in friendly waters.

Smith Mountain Lake also attracts professional anglers who are at the top of their game. Competitions, such as CITGO Bassmaster and the ESPN Elite, provide exciting world-class challenges for those who earn the right to compete here.

The area offers much more than natural charm. The communities surrounding Smith Mountain Lake are alive with nearly 80 civic organizations providing innumerable activities year-round. Music lovers delight in the quality of concerts provided by the Roanoke Symphony, blue grass festivals, folk, contemporary, rhythm & blues and jazz.

People flock to the lake for quality art, antiques, crafts and a wide range of shopping choices. Annual events include a business expo, national archery tournament, aquatic poker run, triathlon, fireworks displays, antique boat show, wine festival, home tour, chili festival and a spectacular winter boat parade.

The economy appears to be doing very well around the region. In fact, Vicki Gardner, the executive director of the Chamber of Commerce recently summed up the stability of Smith Mountain Lake with these words to members, “We’ve officially turned the half-way mark and are headed to 2009. As with each of you and your businesses, the SML Chamber is adopting and adapting to the foretold changes in our economy. All indications show that our area is weathering the ‘economic storm’ better than many regions across the country. While some businesses are struggling, many report ‘better than expected’ revenue over the past few months. Boosting the local economy with the SML Chamber’s ad campaign has been the staff and board’s central focus.”

Those are encouraging words to hear, particularly if you are looking for a new home to retire or relocate in the the area.

For more information about the Smith Mountain Lake region, history, businesses, lodging, dining and much more, go to the SML Chamber of Commerce website: wwww.visitsmithmountainlake.com or call 800-676-8203.

This article was published in the November/December issue of Great Places to Live Magazine.
www.greatplacestolivemagazine.com

J.D. Power and Associates Ranks Prudential Real Estate
Highest in Satisfaction Among Home Sellers

Prudential Real Estate is ranked “Highest in Satisfaction for Home Sellers Among National Full Service Real Estate Firms,” in J.D. Power and Associates’ 2008 Home Buyer/Seller Study SM.

The inaugural study measures customer satisfaction of home buyers and sellers with major national real estate companies and includes 3,670 evaluations from 3,205 respondents who bought or sold a home between April 2007 and June 2008.

Among home sellers, Prudential Real Estate achieved a score of 793 on a 1,000-point scale. “We are very proud of this distinction, as it underscores the quality of our affiliates and their hard-working sales professionals,” said Laurie Keenan, president of Prudential Real Estate. “This recognition is especially rewarding because it comes from a most discerning group: our customers. To be sure, our sales professionals are the local experts, and sellers appreciate their ability to market and price homes right.”

Six Degrees of Virtual Separation
Networking in the 21st Century

We’ve all heard the expression that change is the only constant. While changes can be frightening at first, they often bring us to a better place than where we started. This is especially true when we take charge of our destiny by setting goals and actively pursuing them. Perhaps you would like to obtain a new job, or move to a new neighborhood or even a different part of the country. Whatever the case, there are many resources at your fingertips!

One of the first places you should begin is with your referral network, also known as your Center of Influence. This phrase is usually used to describe business contacts, but it really encompasses everyone you know. Here are some online resources that are helpful in this regard:

• Educational Websites: If you attended a college or university, visit their alumni website. In addition to offering career planning and placement resources, you can learn about local alumni clubs in your region. See if there is an online alumni directory, and contact former classmates you may have lost touch with. (Use www.google.com to locate your school’s official website.)

• LinkedIn™: This website is a way to virtually assemble and broaden your network of contacts, all at no cost to you. The process begins with you inviting friends and colleagues who you respect and trust to join your network. They, in turn, can invite other individuals to participate. Before long, you have a large group of people assembled who have all been carefully selected by others within your circle. You may then search the network to find individuals who can assist you with whatever you’re seeking, ranging from a job in a certain industry to the name of a good attorney.

If you have a need that a fellow member can fulfill, send your request to one of your personal contacts and enlist their assistance in forwarding it on to their contact. A personal introduction will help to ensure a prompt and positive response! www.linkedin.com

• Monster.com: Job seekers and companies alike use Monster® to fulfill their employment needs. But did you know that the website can also be used as a networking resource? Monster enables you to post a profile outlining your background and experience which you can choose to make visible to other members.

Once you’ve created a profile, you can search through thousands of other member profiles to locate people with similar experiences and interests. If there is a particular company or industry you’ve been curious about, this is an excellent way to gain insight from someone who is a current or former employee. You may even set up “people search agents” so that matches will be emailed to you automatically as new profiles are added. Searching and viewing profiles is available at no cost, but if you find someone you’d like to contact, you’ll have to pay a nominal subscription fee. www.monster.com

If you or someone you know is in need of a referral, I would welcome the opportunity to assist you. My Center of Influence includes financial planners, real estate agents, lawyers, accountants, human resources directors, and other business professionals.

Tips to Make Your Home More Valuable

Regardless of the state of the housing market, a smart home owner can always make an effort to increase the value of their most valuable possession – their home. Minor adjustments and projects can make a major difference when you are ready to put your house on the market.

Begin with the first part of the property a buyer will see – the outside. Washing windows, repainting trim, planting flowers and small shrubs, trimming tree branches and overgrown bushes, fixing screens, resealing your driveway, and mowing the lawn can make a big difference. A trim yard and tidy exterior is attractive to a buyer, the opposite can be an instant turn-off.

Another way to increase the appeal and value of your house is to pay special attention to the entryway or first few steps the interested buyer will walk when beginning to tour the interior. An inviting, clean and well decorated foyer will please visitors and extend a good first impression. A fresh coat of paint and new piece of furniture are quick, easy ways to spruce up the entryway.

One way to increase the value of a home that home owners often don’t consider is brightening up a neglected bathroom. Purchase and hang a new shower curtain, buy a rug for the floor and de-clutter the countertop. If the room really needs it, consider fresh paint and a new medicine cabinet or wall shelf.

A slight makeover in the kitchen is perhaps the best possible project for adding to your home’s interior appeal. Replace the handles on your cabinets and drawers, freshen up the paint, install new flooring, add a backsplash, and paint or re-face your existing cabinets. When home buyers come knocking, the time and effort required to refresh a kitchen will be well worth it.

If you’re considering selling your home, any or all of these tips can expedite the sales process by adding to the value and attractiveness of a house, and ensuring it can withstand the local market competition. With a little planning and prioritizing, you can make your house more comfortable and valuable with very little time and money.

About Vicki Millehan
Among Prudential Waterfront Properties’ top producers, Vicki has a solid reputation for being one of the most successful and qualified sales agents on Smith Mountain Lake. She has received multiple awards including “Top Individual Sales Award” given by the Roanoke Valley Association of Realtors in 2004 and 2005. Vicki is a member of the Roanoke Valley Association of Realtors, the Virginia Association of Realtors, National Association of Realtors, and the Smith Mountain Lake Chamber of Commerce.

Contact Vicki Millehan
(540) 576-1224
(540) 520-2401
www.vickislakehomes.com