Smith Mountain Lake Sales between 1/1/2007-4/25/2007

Sales of residences at Smith Mountain Lake that have transferred title from 1/1/2007-4/25/2007, are approximately 10% down from the same  in 2006. Sales of lots dropped from 47 sold during this period in 2006 to 18 sold in 2007.  Some of this may be due to the unseasonably cold weather we experienced this year.  However, we have found that activity of buyers has picked up significantly--but since there is a lag time between the contract date and actual transfer of title the stats will not show the sales for another 45-60 days. During the last month we sold 2 waterfront properties that will close in May. Homes and lots that we have on the market are getting a lot of buyer traffic and several agents have told us that their business activity is picking up as well.