Meet Vicki Millehan of Smith Mountain Lake

For over 20 years, I have called Smith Mountain Lake my home and for over 18 years have considered it my privilege to sell real estate in this area. During that time, I have been a top producer for Prudential Waterfront Properties while doing what I love: matching potential buyers with just the right property in the Smith Mountain Lake region. Of all the decisions people make when buying or selling a home, the selection of the right real estate agent is the most important. I strive to give each client the personal touch and go to great lengths to make sure the home is completely ready for move-in or ready to put on the market. That's why my motto is "I am selling real estate one relationship at a time."

Smith Mountain Lake, recently named one of the greatest places to live by a magazine of the same name, offers year round and vacation living in a beautiful setting that has it all in terms of the setting- the gorgeous Blue Ridge Mountains, lush farmland, and a 22,000 acre man-made lake with 500 mile of shoreline. A magnet for vacation home owners and retirees, the area features excellent golf courses and abundant fishing. It is convenient enough to metropolitan areas to attract young professionals who commute to Roanoke and Lynchburg while living in a peaceful small town setting. The vibrant local economy, wide range of housing choices, and variety of things to see and do make it a great place to raise a family.

Smith Mountain Lake property remains a solid investment. You'd think that in our current economy, housing values might have dropped along with sales. Yet, appraisals are coming in even higher than ever on Smith Mountain Lake Homes. Many area residents who are refinancing their homes to take advantage of lower rates are finding their loans are easily approved despite stricter lending requirements.

Because I serve an area that is a popular relocation destination and a place where people often like to buy second homes, I frequently work with clients and agents from across the United States. I welcome referrals and the chance to participate in realtor networks. Dealing with an out of state realtor can be nerve racking, but as my referrals attest, I take care of every detail.
Just visit me at Vicki's Lake Homes for beautiful properties in Smith Lake Mountain and surrounding communities.

Appraisals at Smith Mtn Lake

I am pleased to report that I have it on good authority that appraised values of homes on Smith Mtn Lake are coming in higher than expected.

There have been numerous appraisals (from various appraisal firms) recently completed for purchases and refinancing. Homes that were purchased in 2008 are now being refinanced because of 15 year rates in the 4.25% range and 30 year fixed in the 4.75% range. These appraisals are coming in HIGHER than their purchase prices of 2008.

In addition, underwriting of these appraisals is more strict than ever. Underwriters are taking a hard look at comparables sales. Even with the more strict underwriting of appraisals these loans are closing and interest rates are so low, it's (almost) like borrowing free money.