Smith Mountain Lake, VA

As most of you know the Home Buyers Tax Credit program has been continued. You can read most of the details in the recent blog: Buy a Smith Mountain Lake Home, Get a Tax Break! With current homeowners now being eligible for a tax credit of up to $6,500, many are asking for details on the expanded program and what it means for them. It seems to be almost custom made for those who are ready to retire or downsize their home!

You can buy a lot of house for $800,000, but not everyone wants a lot of house to take care of! There is a whole generation of Baby Boomers who are just starting out on the road of retirement! On the top of their list is buying a retirement home. The new repeat buyer tax credit can be applied to a home that is smaller and even less expensive than your current home. There are many types of homes that qualify, if you want a condo or cottage on the lake, no problem! If you prefer to live on the lake in a houseboat, you are covered there as well! As long as it is a primary residence, you can buy the right sized home to fit your retirement plans!

Another benefit for retirees is the wider pool of buyers that will be looking for homes. Many of those ready to retire owned homes that were considered a few steps beyond what most first time homeowner would consider. These homes are now in demand for repeat buyers who are ready to take on the next level of home ownership! With the new program, you can sell your city home and buy a smaller home in the country and still qualify!

You can use the tax credit towards your home or you can use it as a down payment on that new sailboat! Whatever you choose to use it for, don't miss out on this opportunity! You can take advantage of this program through April 30^th, 2010 and will need to close by June 30^th, 2010. Smith Mountain Lake is a wonderful place to retire! Golf courses, fishing, sailing, hiking; these are just a few of the things you can enjoy in Franklin County!

There is so much to do in Franklin County, Virginia; come for a visit, if you like it then move here!! If you want to see what kind of homes are available in the area call Vicki Millehan! She is your local real estate expert and long time resident of Smith Mountain Lake!!

The deadline for the First Time Home Buyer Tax credit was fast approaching, but we have good news!! The $8000 Tax Credit program has been extended! Not only do first time buyers now have until April 2010 to choose a home, but those current home owners who are looking to buy a home may also qualify for a new $6,500 credit! There is a little something for most everyone in the extended program!

If you were worried about missing the November 30^th deadline, you now have until April 30th, 2010 to be under contract to buy a Smith Mountain Lake home and get a tax break! You can schedule your closing anytime through June 30^th, 2010! The extra two months to close will hopefully avoid the backlog of closings agents have seen as the original deadline approached.

If you are a first time home buyer, not much has changed in the extension. Any home that can be used as a primary residence is eligible under the program. Even houseboats qualify under the extension! You cannot purchase a home from a family member and qualify for the tax credit. Income guidelines are $125,000 for single tax payers and $225,000 for those who are filing jointly. To be considered a first time home buyer you still must not have owned a principal residential property in the last three years. But with the new extension, if you own a home, you may still qualify for a tax credit!

Repeat Buyers are now eligible for a tax credit up to $6,500 on the purchase of a home. To be considered a repeat buyer, you will need to have owned and resided in a home for five consecutive years out of the last eight years. The income guidelines are the same as a first time buyer: $125,000 for single filers and $225,000 for married couples filing jointly. You can purchase any primary residence up to $800,000 and earn a 10% tax credit up to $6,500. For the first time buyers the highest amount of the credit is $8,000!

You can't find a better incentive for buying that waterfront home you have been thinking of! Come visit Smith Mountain Lake, if you like it then move here! If you have questions about the Home Buyers Tax Credit extension, call Vicki Millehan! She is your local real estate expert!

Smith Mountain Lake is well known for its weekend getaways and as a summer vacation hotspot. But with its temperate climate, the region has grown into a year round travel destination boasting a growing residential community. A true "Four Season" community whose shorelines, services, amenities, and attractions create the perfect place to visit and live!!

There is no doubt Smith Mountain Lake has four seasons. Boating is most popular from the early spring all the way to the colorful days of fall. The brave of heart can even venture out on the lake in the winter. The average temperatures in January are highs in the mid forties to lows in mid twenties. The Lake does not freeze over, so about the only thing you can't do on the Lake is ice skate!

In the crisp spring air you will see flashes of colorful phlox and bright jonquils! Azaleas will begin to put on their yearly show of brilliant colors. Then as spring gives way to summer, the lake becomes a flurry of activity. With perfect temperatures of the mid to upper 80's during the day and lows in the 70's at night, it is hard to beat Smith Mountain Lake in the summertime! That is until you see the fall foliage!! Many people come to the area just to drive the Blue Ridge Parkway and enjoy autumn's display! Finally as the hustle and bustle begins to slow down, a light dusting of snow puts everyone in the Holiday mood!

With such a wonderful climate, wineries and orchards love the 180 day average growing season. Some of the best wines in the country are made right here in Virginia! It is easy to fill your table with the bounty of the area at the local farmers markets! Spring through winter, Smith Mountain Lake is a wonderful place to live and visit! It is not just your usual summer vacation fling!

The invitation is open all year round! Come for a visit, if you like it, then move here! When you are ready to buy your own lake front property, call Vicki Millehan! A local real estate expert and resident of Smith Mountain Lake!!

The peak of fall is upon Smith Mountain Lake! The leaves are at the height of their autumn display of colors. The wineries have finished the fall crush and the wonder of wine making is well underway. Boat owners are contemplating whether to brave the cold or winterize their boats. As the weather cools, lake activity begins to slow. This all adds up to one conclusion: tis' the season... to buy that vacation home!

One of the best times to purchase a vacation home is during the off season. After enjoying one last peak season, sellers will put their property on the market. This makes it a good time to get a great deal on a lakefront home! So why put Smith Mountain Lake at the top of your list? Oh, let us count the ways!!

Seasons of Fun!

Many of the things real estate experts will tell you to look in buying a second home can be found right here on the lake! The first tip is to get the most "bang for your buck." You want to find a location that boasts a long season for the things you want to enjoy. At Smith Mountain Lake you can enjoy golfing, fishing and hiking year round, weather permitting. The boating season is a long one; you can even look for properties from the water while enjoying a cruise on the Virginia Dare! This side paddlewheel replica cruises the Lake from April - December, ending with the big holiday Flotilla for Toys parade!! And that is just the outdoor activities! With award winning restaurants and so much more in the area, it is very hard to get bored at the Lake!

Retire to the Lake!

Another tip for purchasing a vacation home is considering your retirement. When most people retire, they sell their primary residence and second home and begin to look for that perfect place to retire. We have that covered too! Smith Mountain Lake is a wonderful place to retire! There are many different types of communities and homes to choose from. Retirement here means whatever you want it to! Lazy days spent enjoying the view or fishing. Or you can take in the arts and history of the surrounding area. You can enjoy nature hikes, golfing, sailing and horseback riding for a more active lifestyle. We haven't even mentioned the vineyards!! The list just goes on and on!!

Come See in Off Season

The last tip of the day in buying a second home is visit in the off season. Some resort locations become a wasteland in the off season. You do not want to buy a family vacation home in an area that will be abandoned after the peak season. Smith Mountain Lake is a booming community all year round. Having a neighbor who will keep an eye on things when you aren't around is a great thing! If you want to check out Smith Mountain Lake in the off season, then you should come on November 7^th! You can enjoy the SML Fall Chili and Craft Festival while you are here!

If you are ready to start looking for your vacation home on the Lake, call Vicki Millehan! Whether you are looking to buy a home in a planned community or buying a winery of your own, her team can help you find the home you are looking for! There is something to enjoy in every season at Smith Mountain Lake!

You know that Bedford County is known for its history and its wine! This weekend you have the chance to enjoy both, plus a little music and some stargazing too! You can enjoy candlelight tours of the Old City Cemetery, Spooky Ghost stories, and checking out the lovely hues of autumn leaves, all without leaving the area!

Gravestones Talk!

On Saturday evening, you can choose from lots of great things to do with the family. If you love history and stories of days gone by, then the Old City Cemetery Candlelight tours is right up your alley! The Old City Cemetery can be toured any day of the week from dusk until dawn. The daytime visits are free! The Mourning Museum is open 11am -3pm everyday of the week through October. There are other museums on the site to tour as well. But if you want to enjoy an interactive experience then the Candle light tour is the way to go! Actors dress up as the cemetery residents and share their story. It is quite an experience! For more information you can call 434-847-1465.

Spooky Tales!

If you want a more spooky experience, then spend Saturday at Peaks of Otter Winery! During the day you can enjoy a beautiful tour of the winery and enjoy the Peak Foliage Open House. It is FREE from noon to 5pm! Enjoy fresh cider and apples; try some of the unique wines of the vineyard! Then head over to the Peaks of Otter Lodge for the final evening program of the season: Spooky Ghost Stories! One of our fine Park Rangers will tell "home brewed" ghost stories based on the legend and lore of the mountains! Costumes welcome!! There will be free candy too! So bring the little ones out for a fun night starting at 7:30pm in the Flat Top Room.

Starry Night!

Lastly, if you want to just sit back and enjoy the stars then head over to Hickory Hills Vineyard! This free event starts at 6pm on October 24^th. Live music will play until the sun goes down and the stars come out! Local astronomer Jim Schauberger will be on hand with his telescope to give a tour of the clear night sky! The night tour will begin at 10PM, bring the kids, the blanket and dress warm! You can even a picnic under the stars! If you have binoculars or even your own telescope, bring those too and enjoy the beauty of Virginia's night skies!!

These are just a few of the things going on around Bedford, VA! So come for a visit, and if you like it then move here! Finding your perfect waterfront property does not have to be scary! Just give Vicki Millehan a call! She can help you find the right home for you!