Friday, October 24, 2008

Price Your Property Right the First Time Around

I receive calls each day from people who need to sell their Smith Lake home or property. The real estate market on Smith Lake is very complex since no one property is like another. Homes on Smith Lake may have the same square footage, but might have completely different property characteristics such as water depth or slope to the lake. That being said, pricing a property on Smith Lake is a task that takes a lot of research. Most sellers do have an idea of what their property is worth, but usually they don't have access to the past sales data that I do. I usually suggest an appraisal before a home goes on the market to get a certified estimate of value. Although an appraisal is an opinion, banks do require them so it's a great idea to have one before a home goes on the market. A seller also needs to review the other homes or lots on the market that will be the competition. Most buyers are looking at 5-15 homes before making a buying decision.

Pricing your property right the first time will save you money in the long run. The Smith Lake property will be on the market a shorter amount of time which means the proceeds reach your pocket quicker!

Tuesday, October 21, 2008

Some Smith Lake Sellers Offering Owner Financing

With the ever changing mortgage crisis we are facing right now, it has become a challenge for some people to obtain financing on second homes and investment properties. To combat this, many sellers of Smith Lake property will hold the mortgage on their property to qualified buyers.

Since banks are tightening the reins on their lending requirements, those approved for second homes or other properties months ago, would no longer qualify at the present time although their income and assets may be the exactly the same. Most of the people in this situation have adequate income and excellent credit scores, but may have a high amount of outstanding debt thus reducing their borrowing capability.

I have several Smith Lake property owners who will hold the mortgage on their real estate for a good qualified buyer. Most of these owners will want a considerable down payment and will offer the same interest rate as a local bank.

The buying opportunities are endless on Lewis Smith Lake--take a look!

Monday, October 20, 2008

Sales of Expensive Homes on Smith Lake Remaining High in 2008

The upper bracket homes on Lewis Smith Lake had a sales increase toward the later part of the Summer and early Fall. These waterfront homes in the 800K-1.5M range seemed to be a hot commodity as stock prices began to fall and many consumers decided to invest their hard earned dollar elsewhere--Smith Lake property.

It seems waterfront real estate on Smith Lake is becoming a popular investment for people located all over the world. A one million dollar investment on Smith Lake will buy a beautiful waterfront home or a spectacular piece of land. This equal investment in other parts of the country will not compare to the amount of square footage or shoreline you can purchase on Smith Lake for the same amount of money.

Just today, I received calls from people as far away as California who are inquiring about property for sale on Smith Lake. The surrounding states such as Tennessee, Florida, Georgia, and Mississippi are all starting to migrate toward Smith Lake. The lakes in these states are far inferior to Smith Lake with regards to water quality and price per waterfront foot.

To learn more about Smith Lake or the properties available for sale, please visit my website:

Tuesday, October 14, 2008

Fall is A Great Time of Year to Purchase Smith Lake Property

Since temperatures have gotten cooler and the Smith Lake water levels have dropped, the boating activity on Lewis Smith Lake has slowed just as it does every year. Even though you might not want to get out in a boat now, the Fall and Winter months are great times of the year for purchasing lakefront property on Smith Lake. The lake will fluctuate at least 14 feet each year and the water levels are at the lowest in these off season months. These lower water levels will allow a potential buyer to see a property when the water is at a worst case scenario. A buyer can see if the property will keep year round water or will dry during these months. The shoreline is also completely exposed allowing a potential buyer to see if a retaining wall will be required or if a boatdock will touch the ground. To learn more about Smith Lake water level fluctuation, please visit my website which details this:

Most vacant land shoppers take advantage of the water fluctuation and look at these properties during the off season. If you like the property during this time period, you will love it when the water levels reach the high mark in the Spring!

With interest rates low and water levels low, now is the time to invest in Smith Lake real estate!

Lewis Smith Lake is navigable year round even with this water fluctuation. Some sloughs and coves will dry, but the main channels stay deep year round. Smith Lake has many boat launches and marinas open year round for easy access to Smith Lake's beautiful waters.

Monday, October 13, 2008

The Real Estate Market on Lewis Smith Lake in 2008

For those of you who have been following the real estate market around the country, I think you will be pleasantly surprised that sales of waterfront property on Lewis Smith Lake in northern Alabama remain strong. With the downfall of the stock market, many consumers choose to invest their money into other assets such as real estate. Smith Lake does have an excess of inventory at the moment which in turn makes it a great time to take advantage of some of these homes, lots, or condos for sale. Most sellers understand the current market conditions and are willing to negotiate to some extent. Smith Lake by no means has an excess amount of foreclosures or short sales, yet has many motivated sellers willing to move their Smith Lake property as soon as possible.

Smith Lake property values continue to increase despite the economy being depressed. Homes on Smith Lake are being purchased from people all over the country. I receive calls each day from people all over the world who are inquiring about Smith Lake and what it has to offer. Smith Lake prices are still behind other lakes in the Southeast, making Smith Lake a great place to invest for the future. The same lot or home on other lakes in the South could be double the price! I do feel this will change within the next 5 years as the values continue to climb on Smith Lake. Most buyers I work with really enjoy the small town atmosphere of Smith Lake and enjoy the laidback lifestyle this area has to offer. If you want to see the current properties on Smith Lake for sale, visit my up to date Smith Lake Website.

The property taxes on Smith Lake are low, the temperature is comfortable year round, and the Southern charm of Smith Lake continues to attract people from all over the country.

If you are cashing out of the stock market, cash in to property on Smith Lake!

To learn more about Smith Lake, please visit my Smith Lake Information Page: