Best Virginia Lake communities?? Please help! (Boones Mill: home, good schools, subdivision)

[richmondpics]

Not to get too off-topic, but RIC's fares have improved dramatically since JetBlue and AirTran entered the market. Including the new startup SkyBus, there are 9 airlines serving RIC. The airport also recently finished a major expansion. Passenger counts are up nearly 17% from last year so far.

[shellytc]

Originally Posted by Kaligirl

Hi Shelly

Yes, we love the Ocean too, but dont think we could afford it (ie why we are looking for a great lake to pudder around in) and I am new to hurricanes, so tell me just how far inland should I be? and how long to get to the nearest good beach for a day trip or weekend trip? I hear such wonderful things about VA Beach! Thanks for reminding me to ask about the beaches!!
Kali

Hi Kali girl, you would have to define what price range affordable is for you. But Virginia Beach still has homes that are in reach and there is work here and the schools are ranked very well. You can also check out the intercoastal waterway for boating etc. If you are doing any searches, it is 23456 zip code and also Munden Point and Pungo are the keywords you might want to put in. We have a lot to offer : )

Shelly

[kingme]

Can you fish on Swift Creek Reservoir?

[shellytc]

Yes, you can fish on the reservoir, but it is very small stuff. You cannot go out on the water with a motor (unless it is a small electric motor). Mostly catamarans, row boats, paddle boats, etc. it is beautiful.

Shelly

[jmarkd]

20 minutes to Charlottesville lies lak Monticello with a very nice lakefront community. It's very family-oriented and home prices are reasonable. Low crime also. Worth checking out and the closest lake community to Chalottesville. I know folks that live there and they speak highly of the area.
Lake Monticello Owners' Association (LMOA)

I would love to hear more about Lake Monticello from someone who has lived there or knows the area. I am looking at a UVA job, my wife stays at home with our 2.5 small kids, and we're looking for a nice neighborhood. It seems that Lake Monticello would be nice, but I'd like to get other perspectives, cheers, and gripes.

[Dixiebound]

My wife and I have had a condo at smith mountain lake for almost four years.The lake community itself has alot of older people,however, that is changing because of the growth in Franklin and Bedford counties. The lake itself is being marketed as the Tahoe of the east and many say with good reason. It is said it has the best striper fishing in the east. Moreover,national largemouth bass tournaments are now being held regularly. There are many ecology minded volunteers at the lake; with the cooperation of nearby colleges they do a great job of monitoring the lake's health. Top rate medical facilities are in the area already and are expanding all the time.
Prices on the lake have gone through the roof over the last few years. However, off lake properties are still relatively reasonable
Consider subscribing to the Smith Mountain Eagle - it is a weekly newspaper that is mailed anywhere in the country. Very informative.
Good Luck.

[seanpecor]

I met some local Franklin County folks recently who live quite close to me in Boones Mill but own some investment properties on SML. They say the bottom fell out of the SML market a while back and it's only now beginning to turn around. I gather from them that investment speculators pushed up the prices on lakefront real estate when the national market was slowing. It hit the tipping point late last year and it became VERY hard to move property on the lake until prices were corrected. So the market has already begun to correct itself and prices for SML lakefront homes should continue to drop gradually (or at least not appreciate) until they're in line with the rest of the market - maybe at around 2005 prices? Who knows.

I imagine that after every national fishing competition on SML there is a burst of sales activity. Folks from out of state travel to SML to compete and fall in love with the area. This weekend there is the ESPN Bassmaster Elite competition and I'm sure all of the lake realtors will be doing open houses and vying for the attention of all those fishing competitors wandering around after the competition ends looking for a sales contract to sign

Sean

[Dixiebound]

Although prices came down on sml lakefront and lakefront properties are listed for sale much longer, to say the bottom fell out is somewhat an
exaggeration. (No disrespect to you Sean; I have read your posts on franklin co.-their great.) I wish the bottom did fall out, I would have bought a lake house and sold my small condo. At any rate, the sml market reflected some of the bubble as in other parts of the country. 2005 prices were still high due partly to the facts that sml no longer was a hidden gem and the realtors would gobble up all the new home sites with their cheap lot loans,sit on the property a short time and then flip it.

[seanpecor]

I hear ya Dixiebound. The conversation I had was with a real estate developer heavily invested in SML and a SML realtor sitting at a table with me. I think their version of the market grinding to a halt, and everyone else's version (yours and mine) are a bit different.

I think off-lake Franklin and Bedford County real estate will be appreciating at a higher % than the lakefront stuff for the next few years. So maybe the best thing would be to invest in some off-lake lots, and build up some equity that you could use to throw at that lake house! Then you can invite me over for some BBQ

Sean

[Dixiebound]

I hear you too Sean - and agree. Much of my information also came from a realtor friend of mine and my own hunting for a bigger place over the last four years. Many of us ,who don"t have our house long for 2003 prices. We do love our condo though.

With that said, my wife and my tastes have evolved over the last few years, spending our summers at the lake, watching the growth-growth-growth. Our plan presently is to buy way off lake,a little land, and build. we have explored extensively in Franklin and Bedford counties. We like a few different areas, however , our favorite is a town you might of heard of - Boones Mill.

Reading your posts keeps me ahead of the curve - Thanks

The BBQ will be smokin' - But you might not have to travel that far.

DB