Gas Prices Around Smith Lake

For the first time in years, gas is cheap! Most stations around Smith Lake are selling gas for around $1.60 per gallon for 87 octane. I did see one station on Highway 78 in Jasper selling gas for $1.45. That price is the lowest I have seen.

With lower gas prices, I encourage you to come over and see what Lewis Smith Lake has to offer. Smith Lake property is a solid investment for the future. We are constantly seeing buyers from all over the United States who have found out about the low property taxes and clean water that Smith Lake has to offer.

Smith Lake homes and lots are plentiful, so now is the time to buy Smith Lake real estate!

Smith Lake Water Levels Remaining Constant

The water level at Lewis Smith Lake has remained constant over the last two months. Today, the lake is at 497.28 which is 12.72 feet below the normal pool elevation of 510. The normal pool for this time of year is 496, so the lake is about 1.28 feet above normal right now. Property owners and developers are happy with the water level remaining constant in 2008. In November 0f 2007, Smith Lake was at one of the lowest levels ever due to the severe drought--around 490.8 which is 6 feet below normal winter levels! This information can be obtained from http://www.smithlake.info.

As a reminder, the Fall and Winter months are great times to buy Smith Lake property. With the lower water levels, a buyer can see what the shoreline will look like during these months. This is the perfect time of year to decide dock placement and retaining wall options if needed.

To learn more about Smith Lake, please visit my Smith Lake Information Website.

Smith Lake Lots for Sale in White Oak Landing

White Oak Landing is a new development located on Lewis Smith Lake. This subdivision has waterfront and offshore parcels for sale. This development has beautiful new Smith Lake homes going up right now. These waterfront lots are competitively priced starting at $99,900. The offshore parcels begin at $29,900.

I invite you to take a look at this development. The lots are wooded and have wonderful views of the water. White Oak is a great section of Smith Lake known for it's pristine waters and low boat traffic.

The roads to this subdivision are paved and it's only minutes to a town for groceries and gas.

For additional information on this development, please visit my website for White Oak Landing on Smith Lake.

Mortgage Lending On Smith Lake

The mortgage process can seem quite overwhelming these days with our current economic crisis. Most banks and mortgage companies are requiring additional information, statements, and disclosures from each borrower making the process somewhat confusing for all parties involved. However, choosing the right lender who knows the property and the area will benefit you in the long run. Most buyers of Smith Lake property are purchasing for second homes or investment. So, the types of mortgage products are usually quite different than a traditional primary home loan. I have mortgage companies and banks who are glad to loan money on Smith Lake real estate whether it is a vacation home or primary residence. These lenders know the property and all of the vendors in the area to help get the transaction closed as soon as possible. We try to keep the business local which benefits the surrounding Smith Lake Community.

Before you start looking at property for sale on Smith Lake, I would advise you to speak with me about some of the local lenders in the area who will be glad to discuss the mortgage lending options that can be tailored to your specific needs.

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!

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!

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: www.justindyar.com