Housing Sales Bouncing Back at Smith Mountain Lake - WSET.com - ABC13

Housing Sales Bouncing Back at Smith Mountain Lake

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Reporter: Lauren Compton l Videographer: Daniel Heffner

Smith Mountain Lake, VA - Realtors at Smith Mountain Lake are seeing some positive changes in the housing market. They say if you have ever thought about buying property at the lake, don't wait.

Realtors say right now prices are low, and foreclosed properties are making it more affordable to live at the lake. Smith Mountain Lake has some great selling points for prospective buyers.

"You've got the view, and you can bring your boat," said Patty Sims, a prospective buyer.

But realtors say that is only part of what is bringing buyers to the lake.

"There will never be a time in the foreseeable future when prices are as inexpensive as you can get now," said Pete Ramsey, an auction specialist for Counts Realty & Auction Group.

You can find deals on foreclosed properties like these condos at Mariner's Landing. Counts Realty & Auction Groups will be auctioning 17 units at "The Pointe at Mariner's Landing."

"For what you can get them for it's going to be an awesome deal," said Preston Brunette, a prospective buyer.

For example a three bedroom unit that usually sells for about $550,000 could sell for half that price at the auction. And each condo is furnished and ready to move-in.

"When I say furnished I mean everything from pots, pans, dishes, glasses, and bedding," said Ramsey.

Some of the condos have fireplaces, and multiple kitchens. Buyers are definitely taking notice.

"I feel like the economy is coming back. You can tell on the weekend people around the lake. It's getting to be more, and more," said Brunette.

Interest in these condos is definitely high. Ramsey says about 150 people have visited in the past three weeks. The auctioneers expect all the units to be sold in less than an hour on Thursday.

The auction is Thursday April 5 at Mariner's Landing. It starts at 11 a.m.

Get more information on properties from the Counts Realty & Auction Group

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