5 Mar 2010 | 5:00 pm
First-Time Homebuyer Tax Credit
FIRST-TIME HOMEBUYER TAX CREDIT EXTENDED Congress and the President have extended and expanded the $8,000 tax credit for first-time buyers. You now have until April 30, 2010 to sign a contract and qualify.  AND, starting November 7, many existing home owners also qualify. The temporary credit is only available for home purchases that go to contract before [...]
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5 Mar 2010 | 10:37 am
ATTENTION POTENTIAL HOME BUYERS!!
Those of you out there thinking of buying but putting it off will pay thousands more this spring. Waiting to buy a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements some changes for loans guaranteed by the Federal Housing Authority (FHA). Coming just weeks before [...]
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About Smith Mountain Lake, Virginia

Nestled at the foot of the Blue Ridge Mountains of Virginia , Smith Mountain Lake spans 20,600 acres, is 40 miles long and features 500 miles of shoreline. The lake borders three counties (Bedford, Franklin and Pittsylvania) and offers beautiful views, sparkling water and a multitude of recreational activities.

General information

History
The lake was created in 1966 when engineers dammed the Blackwater and Roanoke Rivers , flooding Smith Mountain Gap. Owned and operated by American Electric Power, the dam provides hydro-electric power for surrounding communities.
Get more information on the dam. Check today's lake levels.

Real Estate
Real Estate at Smith Mountain Lake ranges from modest houses on quiet coves to extraordinary homes with stiking landscapes and impressive docks. SML is a haven not only for those seeking permanent residence, but also retirees and those looking for a serene setting for a second home, condo or townhouse. Though the lake has increased in popularity, waterfront property remains plentiful and reasonably priced.

Weather
Average temperatures are in the mid-70s in the summer and upper 30s in the winter. Annual precipitation is 45 inches of rain and 15 inches of snow.

Population
Approximately 20,000 people make Smith Mountain Lake their home.

Taxes and Utilities
Real Estate (100% assessment):
Bedford County : $.70 per $100
Franklin County : $.55 per $100
Pittsylvania County : $.48 per $100
State sales tax: 5%

Travel Distance
Smith Mountain Lake
is about a 45-minute drive from both Roanoke and Lynchburg , Virginia . Below are some additional travel distances.

City

Distance in Miles (approx.)

Atlanta , Ga.

445

Baltimore , Md.

272

Charleston , WVa.

225

Charlotte , N.C.

190

Chicago , Ill.

700

Cincinnati , Ohio

460

Cleveland , Ohio

460

Columbus , Ohio

375

Knoxville , Tenn.

290

Lexington , Ky.

385

Nashville, Tenn.

465

New York, N.Y.

505

Norfolk, Va.

225

Pittsburgh, Pa.

365

Raleigh, N.C.

175

Richmond, Va.

150

Washington, D.C.

220


Find out more about Roanoke from the Doubletree Travel Guide.

Need a vacation rental? Visit Meg Spurrier's web site.

For more information on dining, accommodations, golf, shopping, fishing, entertainment and all things Smith Mountain Lake, visit the SML Chamber of Commerce or the Smith Mountain Laker magazine.