Property Value Factor #7: Lot Size
We often get first inquiries from people asking for the typical price of property per acre here. While there are rare individuals who really want more acreage, most buyers value the factors discussed above so much more that the size of the lot really doesn’t matter. Exceptions are a lot [...]

[Read more →]

Property Value Factor #6: Cove versus Main Channel
This issue is not completely cut and dry because there are varying degrees of land in coves, on the main channel, and in between. Many first timers here at the lake assume that they will want to be on the main channel, which often provides the longest and [...]

[Read more →]

Property Value Factor #5: Location
This issue is way down the list here at Smith Mountain Lake because location is already established. Everyone choosing to buy at Virginia’s Jewel of the Blue Ridge already has THE location, wherever they are on the lake! So the specific area of the lake is typically less important in [...]

[Read more →]

The 4th “key factor” that defines the real estate market in Smith Mountain Lake, VA, is the quality of the homes.

[Read more →]

Property Value Factor #3: Waterfront
What does “waterfront” mean in this context? This is a catch-all phrase. This issue is often third on folks’ lists, but is sometimes first or second. Factors may include:
Length of Shoreline
Though many buyers dream of having a great deal of shoreline for privacy and recreation, I often find that most [...]

[Read more →]

Property Value Factor #2: The Slope
We’ve looked at factor #1, the view, so now it’s time to see a second factor that effects how waterfront real estate is valued. “The Slope” often runs a close second behind view, and for many buyers it is first.
Smith Mountain Lake’s boundaries are made up of beautiful [...]

[Read more →]

Many people looking at home listings over the web are surprised when they see the wide variation in home prices here at Smith Mountain Lake. They wonder why a beautiful, large waterfront home is priced hundreds of thousands lower than a run-down cottage in the same area. Or why some vacant lots are more expensive [...]

[Read more →]