Month: May 2015

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Dealing with the Down Payment

Ever dream of owning a Smith Mountain Lake home but don’t think you can because you lack the down payment and closing costs? Here are a few tips:

  • Borrow from your retirement account: A 401(k) or traditional IRA may allow a first-time homebuyers to borrow up to $10,000 for their down payment without incurring a penalty. If you’re self-employed or your employer allows it, you may also be able to borrow up to $50,000 from your current 401(k) and pay yourself back over five years at a reasonable interest rate.
  • Ask family: If you are able to get help from a family member, the lender may ask you to sign a gift-letter form, attesting to the relationship. They may also require your relatives to explain where they got the money and prove that they are financially able to make such a gift.
  • Look for down payment assistance grants: Down payment assistance and community redevelopment programs offer affordable housing opportunities to first-time homebuyers, low-income and moderate-income individuals and families who wish to own a Smith Mountain Lake home.
  • Come to a lease/purchase agreement: Smith Mountain Lake homeowners who can’t sell their homes may consider a lease/purchase agreement, where you rent the home you want to buy and a percentage of your rent is applied to the down payment. Make sure you get a contract outlining all the details so both parties are protected.
  • Add it to the wedding registry: Some mortgage companies allow those getting married to set up a down payment registry.
  • Cut back and save: If nothing else, there’s always the old-fashioned “saving for a rainy day.” Try putting aside 10% of each paycheck and eating at home instead of eating out. If you’re married, save the money you would spend on birthday, anniversary and Christmas presents and put it toward your house. You also may need to forget that vacation this year.

These sacrifices may seem significant but they will be worth it once you’re inside your own Smith Mountain Lake home.

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Five tips to beautify the bath.

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Updating a tired-looking bathroom is a great way to increase a home’s resale. The fixes don’t need to be costly or labor intensive:

  1. Beautify: Add decorative glass, stone tile or accents to make a bathroom stand out. Extra-wide wall tiles are popular and wood cabinets can be embellished with carved wooden inlays.
  2. Lighting: Add more lighting options around the room to reduce shadows and glare. Mood lighting around the tub area is also very popular.
  3. Bath/Shower: A new tub and a spa-like atmosphere can do wonders for a bathroom. Adding a massage element to the showerhead will appeal to buyers.
  4. Update Fixtures: Changing the fixtures in a bathroom can add a great deal. From cabinet handles to faucets, the addition of brushed nickel or other metals is always a huge hit. And if space permits, add a second sink.
  5. Think Green: Install fixtures that save water. A low-flow showerhead, low-flow faucet aerator and a dual-flush toilet can save thousands of gallons of water. Energy-efficient windows is another easy option.

A renovated bathroom offers an intimate, contemporary feel and is one of the things people will remember about a home.
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Berkshire Hathaway HomeServices’ Wins Inman News poll as the Top National TV spot in Real Estate

Consumers and network professionals have spoken! Berkshire Hathaway HomeServices’ commercial, “Calls,” was today named 2015’s best national TV spot in real estate by an Inman News poll of more than 15,000 readers. Berkshire Hathaway HomeServices secured 5,522 votes to win the poll, which included TV spots from industry competitors Coldwell Banker, Century 21 and Re/Max. The spot, celebrating that magical moment when clients first learn they’ve sold their home, is now running on HGTV but you can watch it right here!

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Don’t forget about the men when showcasing your Smith Mountain Lake home.

Don’t forget about the men when showcasing your Smith Mountain Lake home.

When selling your Smith Mountain Lake home, it’s important to remember that your interior and exterior need to visually attract both male and female buyers. Read on to learn how to make your home universally appealing.

  • Professional home stagers: They consult with homeowners to sell their Smith Mountain Lake homes quickly and for the most money possible. They consider demographics, buying psychology, design elements and lighting.
  • Personal space: Men tend to gravitate towards rooms with gadgets and electronics. They appreciate open spaces and high ceilings—clean, streamlined rooms that men can easily walk through without obstructions.
  • Cater to interests: Men don’t generally prefer fancy or frilly. They want to watch the big game with buddies or relax after work.
  • Simplified color scheme: Don’t overwhelm any potential buyers with wild colors or furniture, even if you feel it makes your home “special.” Warm interior tones are generally preferred over cool tones.
  • Garage envy: Think about painted walls, clean floors and enough storage for various hobbies. A built-in workbench, organized shelving as well as clean, spacious areas for tools, equipment and maintenance supplies are a great draw.
  • The yard: A well-maintained lawn can really help boost your home’s appeal along with thick, healthy grass, minimal bushes to trim and easy-to-maintain flower beds.

Staging your Smith Mountain Lake home to visually appeal to men as well as women will ensure a better joint response from potential buyers.

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28th Annual Take Pride in Smith Mountain Lake Clean-up Day

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Once again, Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate is a proud sponsor the 28th Annual Take Pride in SML Clean-up Day. Please join us in helping spruce up Smith Mountain Lake for the coming summer season at tomorrow’s Take Pride in SML Clean-up Day. This event marks the 28th annual lake-wide clean-up effort. Volunteers from the entire community get involved in sprucing up the lake. Volunteers can register individually, as a group or organization. Pick up supplies today at the Smith Mountain Lake Visitor’s Center at 16430 Booker T. Washington Hwy, Bridgewater Plaza, Suite 2 from 9:30 AM to 5:30 PM. Special thanks to the Smith Mountain Lake Regional Chamber of Commerce, the Smith Mountain Lake Association and the Tri-County Lakes Administrative Commission for working hard to orchestrate the event.

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Avoid the 8 Staging Mistakes for your Smith Mountain Lake Residence.

Avoid the 8 Staging Mistakes.

You may love your Smith Mountain Lake home, but that doesn’t mean that everyone coming through the door will feel the same way. What may be “charming” to the seller may seem off-putting to a prospective buyer. Many sellers attempt to stage their home themselves. In doing so, they make mistakes that can sidetrack the sale. Here are some of the biggest staging mistakes, according to professional home stagers:

  • Don’t get too personal: Staging is all about de-personalizing the space, and creating a model home look that will appeal to most everyone. Don’t create a look that appeals to just you.
  • Avoid dark colors: Choose neutral or warm colors. A few coats of fresh paint will make a huge difference.
  • Take advantage of natural light: Blocking off light with heavy curtains or furniture can hurt your sale—especially if the home has attractive views.
  • Don’t think more is better: Scale down your furniture. The size of furniture needs to be in balance with the scale of the room. Furniture should define the purpose of the room.
  • Don’t leave pets at home: Remove all traces of animals from the house. Make sure Fido is away during showings. A pet could kill a sale before a potential buyer even steps into the house.
  • Don’t neglect the outside: Outside is as important as the inside. Add flowers, mow the lawn, tidy up and add kid-friendly accessories.
  • Don’t just deal with “main” rooms: Don’t forget the garage, basement and closets.
  • Don’t forget fixtures: It’s important that all lights are burning and all fixtures are working.

Staging a Smith Mountain Lake home means showcasing features, not concealing flaws. Make sure your house is in good condition and use staging to cast the home in its best light.

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Berkshire Hathaway HomeServices Introduces South Harbour

 

The Willard Companies and its real estate division, Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate, announced a formal partnership with the Amos Estate to complete and market South Harbour, a newly planned residential community located on Dudley Amos Rd. off Scruggs Rd. at Smith Mountain Lake. The property, formerly known as The Lakewatch Club, is part of a 250-acre farm that has been in Amos family prior to the lake being filled.

“We are very excited our companies were selected to work with the Amos Estate to finalize the development as well as manage the sales and marketing of the South Harbour community. We’ve already been hard at work rebranding the project with the new name as well as consulting with the estate to offer prospective buyers premium investment opportunities,” stated Ron Willard, president of The Willard Companies. In addition, the companies are currently constructing a commanding Colonial brick entrance accented with nautical inspired lighting which will welcome residents and their guests to a community infused with spectacular views and walking trails. Hundreds of native hardwood trees are planned along with manicured landscaping and state-of-the-art street lighting.

Willard added, “Highlighting the area will be a landmark observation deck built around a historic red oak tree at South Harbour’s highest point where rustic wooden Adirondack chairs and whimsical lighted spheres will welcome casual conversation with neighbors and friends. In addition, the community will showcase three restored tobacco barns located throughout the project.”

Encompassing approximately 100 gently sloping acres, South Harbour is planned for a total of 40 properties. Current properties for sale include 21 waterfront lots ranging from 1 to 2.5 acres ranging from $224,500 to $1,399,500 and 10 water access cottage lots averaging 0.5 acres ranging from $49,500 to $74,500.  A convenient common area is located within South Harbour which will enable access to Smith Mountain Lake for water access cottage lots. Boaters can find South Harbour between the B10 and B11 channel markers on beautiful Blackwater River overlooking Sailaway and Chimney Islands.

In addition, ownership at South Harbour presents the opportunity to join The Waterfront Country Club with no initiation fee. The Waterfront Country Club, just minutes away, offers championship golf, tennis, swimming, fine dining and social activities. This opportunity perfectly blends luxury living with all the recreational amenities that Smith Mountain Lake has to offer.

For sales information, contact Berkshire Hathaway HomeServices at 540-721-8659 or visit the community website at www.SouthHarbourSML.com. For media inquiries, contact Christopher Finley, marketing and communication director, at 540-721-5288.

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Berkshire Hathaway Homeservices Smith Mountain Lake Real Estate Adds Three New Realtors To Its Team

Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate is pleased to announce Penny Blue, Margaret Crayé and Cindy Robertson have joined their sales team.

“Each of these three REALTORS® shares Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate’s commitment to quality and customer service,” said Cathie Daniel, principal broker. “They are exactly the type of sales professionals we are seeking, as we continue to grow the company, and increase our presence in the local community.”

Blue currently serves as a member of the Franklin County School Board. In this position, Blue works collaboratively with her colleagues, the Franklin County Board of Supervisors and the community. Blue is a retired Executive from IBM. She also taught mathematics at a number of secondary schools in the area and Virginia Western Community College. A native of Franklin County, Blue earned a bachelor’s degree in Mathematics from Hampton University and completed her master’s degree in Business from the Fuqua School of Business, Duke University. Blue returned home to Franklin County in 2007 and currently resides at Smith Mountain Lake in Union Hall.

Crayé and her husband, Dr. Kirk Crayé, have four sons and have resided full time at Smith Mountain Lake since 2005. Crayé is a highly community and family oriented individual. As a cancer survivor, she volunteers with the local Discovery Shop which benefits the American Cancer Society and she has taught children as part of a large cooperative network in both Latin and literature studies for years. Recently, she and three of her sons, ages 15, 13, and 11 – have developed a new found passion for sailing. Crayé graduated Fredericksburg Area School of Practical Nursing in 1997. She and her husband pursued and began curating a small portfolio of real estate investments in 2009. Crayé has also developed new marketing and advertising skills by facilitating a very successful artisan honey business with some of her sons.

A native of Martinsville, Robertson has spent most of her life at Smith Mountain Lake and surrounding areas. She began her career at The Martinsville Bulletin in the business office. After earning an Associate Degree in Business Administration from Patrick Henry Community College, Robertson relocated to the Outer Banks of North Carolina and spent several years as a Broker in the Vacation Real Estate Sales and Property Management business. Robertson now makes her home here in Franklin County on the farm where her grandfather grew up. She enjoys nearby Booker T. Washington National Monument where she currently serves as Treasurer of the Friends of Booker T Washington National Monument, a local nonprofit group. Robertson has two children and six grandchildren.