Smith Mountain Lake Prudential Waterfront Properties - smithmtnlake.com

Posts from — June 2004

Waterfront Properties Exceeds First Quarter Sales

Smith Mountain Lake, VA (June 4, 2004) – Waterfront Properties, Smith Mountain Lake’s premier real estate company since 1987, reported significant first quarter sales and growth in 2004. A combination of low interest rates as well as increased property appreciation values remains major factors to the growth in real estate activity at Smith Mountain Lake and surrounding areas.

According to Cathie Daniel, Sales Manager for Waterfront Properties, “Thanks to the hard work and dedication of the Waterfront Properties sales team, our first quarter sales for 2004 were over $1 million higher than the first quarter sales for 2003.” Daniel added, “Closed sales for the first quarter of 2004 exceeded sales for the same period of last year by 14 percent. Our numbers continue to look strong and we are confident that we will have unprecedented growth throughout 2004.”

According to Ron Willard, developer of The Waterfront, The Water’s Edge, Boardwalk, and the Westlake Towne Center, “In the last 18 months, prime waterfront property – lots and housing – has increased by at least 25 percent. A good waterfront lot and house that was worth $400,000 18 months ago is now 25 percent more. We’ve seen properties that even exceeded that; for instance, a property that sold for $450,000 two years ago resold for $650,000, and one lot that sold for $580,000 resold in two months for $625,000. We’ve also had bidding wars on several occasions this year, with buyers going as much as $70,000 over the asking price.”

Waterfront Properties markets property throughout Smith Mountain Lake and surrounding areas. Waterfront Properties REALTORS® are consistent leaders in sales as well as customer and client service. For more information, visit http://www.smithmtnlake.com or call Cathie Daniel, Sales Manager, Waterfront Properties, at (540) 721-8659.

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June 4, 2004   Comments Off