Smith Mountain Lakefront Home Archives | Smith Mountain Lake Real Estate – Debbie Shelton

Archive for Smith Mountain Lakefront Home

Rising interest rates- Why you shouldn’t worry

Why You Shouldn’t Worry About Rising Interest Rates

When mortgage interest rates rise, you may be tempted to put your home buying plans on hold, but there are three reasons you shouldn’t let higher interest rates deter your home buying plans.

    1. Interest rates fluctuate. Mortgage interest rates rise and fall based on the lender’s viewpoint toward the economic outlook. News that suggests a slowing economy tends to bring rates down, while a rosy manufacturing or jobs report can send them back up.

Solution? When you shop for rates, shop at least three lenders using the same type of loan – 30-year fixed rate, adjustable, hybrid and so on. Do so at the same time because rates can change as much as several times daily.

    1. You have some control over rates. The rates you see advertised aren’t what you’ll necessarily pay. They’re available only to those with the best credit histories, those who are able to put at least 20 percent down, and those borrowing well within their means.

Solution? Talk with your lender about ways to improve your credit profile. If you’re stretching to buy a home, expect to pay higher interest rates.

    1. Rates are currently a bargain. Between 1972 and 2008, mortgage interest rates averaged about nine percent annually. Today, they’re around four percent. A 1/8th point translates to about $25 or less a month in monthly payments on a conforming loan, or $9,000 over 30 years in tax deductible costs.

The solution? Have some perspective. Home buying conditions change constantly. Focus on building equity with the lifestyle you want instead.

SML Market Report- 2014 vs 2015

Happy New Year!

It’s that time of the year that we take a close look at the statistical data for the year and compare it to last year’s Real Estate activity. There were drastic and exciting areas of improvement!

Download the PDF or sign up to have it emailed directly to you each quarter.


Waterfront Homes

It is so refreshing to see a increase in the number of homes sold this year, making this the third year in a row of improved sales. The eleven percent decrease in days on the market indicates that newer listings in general are selling. Currently, inventory is at it’s lowest point, but not surprising for this time of year. We expect to see a surge of new listings in the spring and another year, at least, of pricing pressure due to inventory outpacing demand.

Water Access Homes

We are happy to report a 16% increase in number of sales over last year, however there is still a lot of pressure on pricing.


Again, more good news to report! A 26% increase in the number sold. The inventory is high, however, with almost a year in absorption rate. Also notable is the one percent decrease in the average selling price, meaning we may have finally hit the bottom.

Waterfront Lots

While the number of sales has decreased, the average price of those sales has increased. It is a great time to buy a lot here at Smith Mountain Lake and the good news is that we may have cleared out the distressed sales, getting back to more normal market conditions.

Get my market reports first and free!

Sign up to receive comprehensive Smith Mountain Lake Market Reports sent directly to your email address- you can email me at [email protected] With data compiled specifically for Smith Mountain Lake, the reports include all of the details you need to know as a buyer or seller in a variety of segments such as waterfront homes, off-water homes, condos and townhouse and waterfront lots.

Click here to view the full year over year market statistics. Market Report 2014 vs 2015

The Waterfront Country Club | Smith Mountain Lake Neighborhoods

The first country club community at Smith Mountain Lake, The Waterfront is a warm and friendly neighborhood convenient to all of the amenities at Westlake Corner. The luxury development, started in 1977, features a wide range of housing options – from one-bedroom starter condos to multi-million dollar homes.

Membership to The Waterfront Country Club – with its championship golf course and abundant options for recreation and socializing – makes the community even more appealing. With 750 acres and 8.5 miles of shoreline, The Waterfront is a popular spot for families and retirees looking to make their full-time residence here, as well as those who desire a weekend or summer property at Smith Mountain Lake.

Real Estate Options at The Waterfront

Properties for sale at The Waterfront include waterfront and water access homes, golf course homes and a variety of building lots. There are also several condo, townhome and patio home communities, including some that offer a maintenance-free lifestyle that many lake residents desire.

See all homes for sale at The Waterfront or set up an appointment for personal tour by contacting Vicki Millehan or Debbie Shelton.

Amenities at The Waterfront Country Club

Membership to The Waterfront offers access to a wide range of social and recreational opportunities. As a member, you’ll enjoy use of a 22,000-square-foot clubhouse with gourmet dining in both formal and casual areas. Facilities can also accommodate private functions such business meetings, weddings and other celebrations.

Friends gather frequently in the fun-filled bar area and outdoor patio to enjoy impromptu gatherings. There are also a number of planned social events such as a Halloween costume party and New Year’s Eve gala.

One of the club’s biggest draws is its private, 18-hole PGA Championship golf course, which was designed by George Dillon of the Fazio Group. The pro shop is filled with great merchandise and PGA Golf Professional Mark McKee is available to assist with private and group golf lessons. He also helps facilitate the many golf functions and tournaments organized nearly year-round by the men’s and ladies’ golf associations.

Finally, families love The Waterfront for its many other recreational amenities such as courts for tennis and pickleball, a pool, children’s wading pool, indoor fitness facility and boat dock.


The Waterfront is located in Franklin County, Virginia. Students attend Dudley Elementary School, Benjamin Franklin Middle School and Franklin County High School. Nearby private schools include Christian Heritage Academy, Smith Mountain Lake Christian Academy, Carlisle, Chatham Hall, Hargrave Military Academy and Heritage Academy.


Within The Waterfront community, members and guests enjoy a variety of fare for lunch and dinner at the country club, which is open six days a week. Nearby are several restaurants, including The Blackwater Café, The Landing Restaurant and Mexico Viejo.

If you enjoy boating to one of the waterfront restaurants at Smith Mountain Lake, you’re in luck. In addition to The Landing and Mexico Viejo, dining options close to The Waterfront by water include Portside Grill & Bar, Waller’s and numerous options at Bridgewater Plaza.


About five minutes up the road from The Waterfront is Westlake Corner, the main area for shopping at Smith Mountain Lake. Grocery stores, home and garden centers, gift and SML souvenir shops, a jewelry store and more area available at Westlake Towne Center. Also popular are Bridgewater Plaza and Downtown Moneta.

More Resources

Ask questions or set up an appointment to tour Smith Mountain Lake properties by contacting Debbie Shelton or Vicki Millehan.

Visit The Waterfront Country Club website.

Watch a video on The Waterfront Country Club:

Nearby Communities

Many people searching homes in The Waterfront also consider these other communities:

The Cottages at Contentment Island homes for sale

The Water’s Edge Country Club homes for sale

The Boardwalk homes for sale

The Farm homes for sale

Waverly homes for sale