Smith Mountain Lake Prudential Waterfront Properties

Only for the rare few sellers, simply placing a “For Sale” yard sign on the front lawn creates a line of traffic filled with potential buyers. If you want buyers to see your Smith Mountain Lake home, you’ve got to find them.  The key is marketing.  To get the most exposure for your home, you should have a Real Estate marketing plan with clear objectives which specifically outlines the resources that will be used to reach potential buyers.

Each marketing plan should be designed around your property and capitalize on its most desirable features.  Therefore, you need to be honest with your real estate professional about the condition of your home, and the final price you are willing to accept for your home.

Next, you need to determine what marketing options work best to reach your desired audience. Generally there are two audiences you are trying to reach—home buyers and other real estate professionals.  Make sure the plan includes action steps on how each audience will be marketed to.

Seldom is the successful marketing of a property the result of a single activity. Your strategy should include a variety of marketing activities. Using only conventional marketing strategies such as Open Houses, newspaper ads and direct mail can limit your outreach. Most homebuyers now begin their home search online. Having a presence on your real estate professional’s personal and or company Web site gives you worldwide exposure. Besides the increased exposure, online listings also allow buyers to get a sneak peek of your home. Therefore, you may want to compliment the listings with plenty of photos and a virtual tour, which allows viewers to get a preview of your home without leaving their computer.

Also, don’t forget the power of email. Sending email flyers or electronic postcards are easy and cost efficient. During your planning, your real estate professional may recommend other marketing tools such as company/broker tours and an Open House. Work with your real estate professional to determine the best options for your market.

Besides identifying marketing tools, an effective marketing plan will also spell out specific dates for the marketing activities.  It should leave room for unscheduled events such as following up with sales professionals or brokers who preview or show the home.

Make sure the marketing plan includes checkpoints, possibly at the 15-, 30- and 45-day marks, to review activity on the home and determine if changes need to be made to the marketing plan or pricing strategy.

As the home seller, you should be kept in the loop on activity of your home. The marketing plan should state how you will be communicated with (mail, phone, email, in person) and the frequency (daily, weekly, etc.).

Of course these are just guidelines, but can give you an idea if the marketing plan your real estate professional has proposed to you has to be refined.  You need to be comfortable with the marketing strategy for your home.  An effective plan will not only put you at ease, but also give your home maximum exposure to increase your chances of a quick sell.

September 18 — Annual Antique & Classic Boat Show

Every boat tells a story. For Smith Mountain Lake resident Tony Cusumano, that story dates back 34 years, when he first purchased a 1962 Cruisers, Inc. runabout. The boat served Cusumano and his family well for 18 years, mostly for fishing and water skiing in Long Island Sound near their New York home.

But times change. The waters got more crowded and Cusumano found himself too busy at work as a project manager for Grumman Aerospace Corp. to use the boat. Rather than see it collect dust in the garage, he gave the boat to the son of a friend.

Fast-forward 11 years to 1997. Cusumano, having retired to Smith Mountain Lake with his wife Marilyn, was in need of help fixing a fishing rod. He headed to Big Ron’s Tackle Shop at Waterwheel Marina and when he got there, he couldn’t believe his eyes. There sat a boat identical to the 1962 model he had given up 11 years before. And it had a “For Sale” sign on it.

“I came home and said, “Marilyn, jeepers, I found our old boat.” said Cusumano of the white, 16-foot Model 202 Seafarer. “We went back down to look at it and she said, “OK, that will be your birthday present.”

Not long after, Cusumano came across a trailer identical to the one he used with his first boat and bought that, too. “I just think maybe it was meant to be.”

Swapping stories is just one reason why classic and antique boating enthusiasts gather this year at Mariners Landing, 1037 Whitetail Drive, Huddleston, VA 24104 for the Antique & Classic Boat Show. This year, more than 50 vessels are expected to be on display Sept. 17 – 18. The event is open to the public Sept. 18 from 10 a.m. to 4:30 p.m. While the event is free, donations will be accepted for this year’s featured charity.

The show, now in its 20th year, is presented by the Smith Mountain Lake Chapter of the Antique and Classic Boat Society. It includes cruisers, mahogany hulls, utilities, outboards, runabouts and canoes. Most are locally owned, but many boating enthusiasts make the trip to SML from surrounding states.

The group is hoping to organize some changes for this year’s event, Cusumano said. One idea is to have all the boats run their engines at the same time twice a day. The other is to have different boats run every 10 minutes so spectators can see them in action. Cusumano said both ideas would depend on the water level and weather conditions.

“We’re hoping to make it a little more interesting for the public,” he said.

The show will also include vendors with crafts and nautical items, food and drink, and activities for kids.

For more information on the boat show, contact Bill Goold (540) 296-0501.

Prudential Waterfront Properties, ‘After 5 Jive at Smith Mountain Lake’ continues Thursday, August 5, 2010 with “The Part Time Party Time Band” performing at Westlake Towne Center, next to Kroger.

Gates open at 5 p.m. with live music getting underway at 5:30 p.m. through 8:30 p.m. Admission for Adults is $5, Children 10 and under are admitted free. Valid ID required for 21 and older.

There is a children’s play area including inflatable slides and moonwalk. All proceeds benefit the United Way of Franklin County.

‘After 5 Jive at Smith Mountain Lake’ is sponsored by Prudential Waterfront Properties, Verizon Wireless, Smith Mountain Building Supply, Kroger, WDBJ-7 and Coca-Cola.

J.D. Power and Associates announced July 28 that the Prudential Real Estate Network ranked “Highest Overall Satisfaction for Home Sellers among National Full Service Real Estate Firms” in J.D. Power and Associates’ 2010 Home Buyer/Seller Study. This marks the second time in three years that the Network ranked highest in seller satisfaction.

The annual study measures customer satisfaction of home sellers and buyers with major national real estate companies. Overall satisfaction is determined by examining four factors for the home-selling experience: agent (44%); marketing (30%); office (15%); and services (11%). Among home sellers, Prudential Real Estate scored highest on a 1,000-point scale and received particularly high ratings from customers in the marketing and agent factors.

PRERS Chairman Jim Mallozzi said the award speaks for the quality and consistency of the Prudential Real Estate Network. “Affiliate to affiliate, our sales professionals are the local-market experts who market and price homes right, while providing attentive service,” Mallozzi said.

The Real Value of ‘Home’ Homeownership isn’t for everyone, but for those ready to take on the responsibility the desire to purchase a house goes much deeper than a dollars-and-cents analysis.

Understandably, job security is top-of-mind for many Americans and renting provides relocation flexibility, but most people don’t want to uproot their families and disrupt established friendships by leaving the community they call home. In fact, the typical recent home buyer moved only 19 miles from his or her previous home. According to the 2009 NAR Profile of Home Buyers and Sellers survey, buyers most often cite the desire to own a home as the primary reason for their recent purchase.

Data from the U.S. Census Bureau reports that owners do not move as frequently as renters. In turn, involvement in community quality-of-life issues helps prevent crime, improve childhood education and support neighborhood upkeep.

Interview a Prudential Waterfront Properties Realtor about the common reasons families decide to purchase a home. Talk to them about the emotional components that factor into such an important decision. Ask current homeowners why they decided to buy and what the experience taught them.

If you’re a late “Boomer” or a “Gen X” or “Gen Y’er,” you’re likely looking for a place to position assets given the extreme volatility of U.S. equity markets and paltry returns of money market instruments and other safe havens.

Real estate, even through the market downturn, has long been considered a conservative, long-term strategy to growing wealth. Better yet, lower home prices across America and record-low mortgage rates have created an historic buying opportunity for real estate including second/vacation homes. It’s a “ground floor” opportunity that comes with doors, windows, a roof and potential for many great moments and memories.

Long-term demand for second homes looks strong, as there are large numbers of people in the prime buying years for second/vacation homes. Late Boomers? There are roughly 40 million of these potential second-home buyers, and another 85 million between the ages of 30 and 49. For all, second homes suitable for play now and retirement later have significant appeal.

U.S. vacation-home sales rose 8% last year to 553,000, according to the National Association of Realtors (NAR). Though well below a 2006 peak of 1.067 million sales, it represents the first gain in three years. Median price for a vacation home increased 12.6 in 2009, perhaps reflecting movement higher-end markets, said NAR Chief Economist Lawrence Yun.

How you use a second home is up to you, but if it’s something you’ve been considering, now is the time to get the information you need to make an informed decision. A qualified real estate professional can help guide you through financial considerations, assist you in finding the right community and even refer you to a resort property specialist for the destination of your dreams. Your real estate professional may be able to get you the information and advice you need to use the equity in your current home to finance the down payment on a second home, for example.

For many, a second home in a vacation or resort area can be an income property when not in use. Once again, a real estate professional will help you consider property management options that can be a crucial financial factor as well as important to peace of mind.

Some of the best locations are not more than two to three hours away from major metropolitan areas by car or plane. For example, Bostonians gravitate to Cape Cod. New Yorkers favor the Hamptons. San Franciscans retreat to Lake Tahoe and Angelenos head for Palm Springs or Big Bear. Many people who live in the West also have second homes there. Yet, the biggest feeder market for second homes in the South are buyers from the Northeast.

What makes a second home location ideal? Natural beauty is great, but don’t forget about cultural and social resources, as well as first-rate golf, tennis and other popular sports facilities.

Second homes are a discretionary purchase, and everyone wants to feel secure in their environment. That’s why gated and guarded residential communities will continue their appeal. And locations such as Smith Mountain Lake, Virginia, Sante Fe, New Mexico, and Coeur d’Alene, Idaho, which are removed from most urban problems, continue to be attractive.

Nevertheless, you will likely get more enjoyment out of a property you can get to quickly and can use frequently. Since you know this area, chances are you’ll make a better real estate investment closer to home. And be sure to look at each property with an eye toward tomorrow, because the vacation homes likely to appreciate the most are the ones that Boomers can play in today and retire in tomorrow.

Once you’ve narrowed your search to two or three communities that fit your price range and lifestyle, make comparisons of price and sales activity. Your real estate professional can help you determine which communities are most sales-worthy at present, and which are more likely to continue to be.

There are many factors involved in selecting the right community for you and your family. Discuss your options with a Prudential Waterfront Properties real estate professional at (800) 858-4653. This will provide the information he or she needs to help you find property listings to tour. Remember, a targeted approach to house hunting is less time consuming, less expensive and more efficient.

The Willard Companies announced Lee Willard has joined the company as Vice President Corporate Holdings.

Prior to joining The Willard Companies, Lee spent the last 9 years in Business Development and Sales in Washington, D.C.  Over the last 5 years, Willard served as Sales Manager at Oracle Corporation (ORCL), and most recently as an Account Executive at Red Hat Inc. (RHT), a leading Open Source Software Company and S&P 500 member.

Willard, a native of Roanoke, graduated from Cave Spring High School and earned a B.S. degree from Virginia Tech in Management Science and Information Technology. He and his wife Megan reside in Roanoke County.

Just over one month ago, The Willard Companies and Prudential Waterfront Properties announced a partnership with the Atlas Companies and BB&T to market Bridgewater Pointe, the vacant waterfront condominium community at Smith Mountain Lake. Over a three week campaign which began Saturday, June 5 and ran through Saturday, June 26, Prudential Waterfront Properties accepted contract reservations that were entered into a drawing held yesterday, June 27 at The Waterfront Country Club.

Over the duration of the campaign period, Prudential Waterfront Properties received over 721 contract reservations that were entered into a blind drawing. Over 300 people attended the event.  Within 2 ½ hours, all 48 condos were under contract with a scheduled 30 day closing. The three- and four-bedroom condos sold between $199,500 and $535,500. A waiting list was compiled for those buyers who were not selected during the drawing.

 “We took a unique approach to market this particular project. In addition to the drawing format, our marketing and public relations initiatives consisted of a massive multi-media campaign in both traditional and new technology arenas. The results far exceeded our every expectation. It was a fantastic event. The energy and anticipation was truly an adrenaline rush,” according to Christopher Finley, Director of Marketing and Communications for The Willard Companies, owners of the Prudential Waterfront Properties real estate division.

According to Ron Willard, President of The Willard Companies who emceed the event, “It goes to show when you offer a quality product combined with attractive pricing, it will sell. This is not only remarkable for the real estate market, but for the entire Smith Mountain Lake community.”

The Smith Mountain Lake Chamber will be able to continue to collect applications for the new 2011 Smith Mountain Lake license plate. Our deadline has been extended to January 1, 2011 to qualify before other requirements can be implemented and the state begins production and distribution of the Smith Mountain Lake license plates.  We are striving for a completion by fall 2011.

To receive a DMV/SML Chamber application, CLICK HERE. Complete the DMV/SML Chamber application and return it with a check (no cash, please) made out to “SMLRCC” in the amount of $10.  Bring by or mail your application and check to the Smith Mountain Lake Regional Chamber of Commerce, 16430 Booker T. Washington Highway, Moneta, VA 24121 to be added to the list of 350.

Hundreds come out for discounted SML condo sale

By: Jarett Henshaw

SMITH MOUNTAN LAKE – As each number was called, someone hurried up front to claim their prize, the deal of a lifetime.

More than three hundred people showed up at the Waterfront Country Club for their chance to buy a Bridgewater Pointe Condo for 30%-40% off the assessed value.

How it worked is each person drawn picked the lake pad they want and put in a contract on it for the discounted price. Then they have 30 days to get financing and close the deal.

Local business owner Betsy Head said, “We went into this with my husband’s brother and his family just hoping to get pulled once, and split the property together.”

Betsy got her name called not just once or twice, but five times, but she doesn’t plan on buying them all herself.

“We’ve got a lot of family that may want to pick these up and have a vacation home on Smith Mountain Lake,“ said Head.

Leslie and Barbara Johnson were overwhelmed when their number was called.

“I was like huhhhhhh, ha ha, I just couldn’t believe it because I was watching them all get marked off and I thought we’re not going to get one, but we did,“ said Leslie Johnson.

“We can’t wait. I mean, we have been afraid to get excited and we wanted a big balcony and we got a big balcony, so we’re tickled,“ said Barbara Johnson.

Barbara’s buying the ground floor condo and says their move to the lake has a special meaning.

“My husband, her dad, died last August, so this is kind of our splurge to come to the lake and enjoy Smith Mountain Lake,“ said Barbara.

Many went home empty handed but a select save hundreds of thousands of dollars on a hot spot at Smith Mountain Lake.

Prudential Waterfront Properties accepted applications to be put in a lottery for the condos back in May. The homes are located on Smith Mountain Lake in the Bridgewater Pointe Community, right next to the Bridgewater Plaza.

There were 48 three and four bedrooms homes being offered, some starting as low as two hundred thousand dollars.