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Auction Set for Last Home Sites in Smith Mountain Lake's Waterside Subdivision


June 8, 2011 - Roanoke, VA

The last 19 home sites in the Waterside development on Smith Mountain Lake in Virginia's Bedford County will be sold at auction Saturday, July 16, with Woltz & Associates marketing the lots and conducting the sale.

"These are the last of the home sites, and they'll all be selling absolute, so anybody who doesn't buy at the auction will be left out," said Jim Woltz, president of the auction company. "There are still some gorgeous lots in this group, and they'll make excellent lake homes."

The sale will be Woltz's third auction for the trustee. "It's unfortunate that the Waterside ended up in foreclosure, but that just creates opportunities for those who are able to obtain these properties for a substantial discount to the original price. The development just came online at the wrong time, when a perfect economic storm was hitting practically every corner of the real estate market," said Woltz.

Most of the lots are between one and two acres and are located near the R-42 marker, in the Roanoke River Channel of the lake. The development is approximately 30 minutes from both Roanoke and Lynchburg.

"We've timed the auctions to respect the rate at which the market can absorb the properties, and now it's time to finish the job," said Woltz. "Waterside is one of the newest subdivisions on Smith Mountain Lake, and it's also one of the nicest, with paved roads, underground utilities and street lighting," said Woltz.

The auction will begin at 11 a.m. at the LakeWatch Plantation YMCA, 293 First Watch Drive, Moneta. Woltz representatives will be available to answer questions and guide inspections from noon to 3 p.m. Sunday, July 3, and Sunday, July 10. Individuals seeking additional information may contact the company at 800-551-3588 or visit the company's website at www.woltz.com.

Woltz & Associates is a leading auctioneer of land, home sites and other real estate throughout the United States with an emphasis on the mid-Atlantic region. More auction information.

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For more information:
Carl Carter
205-823-3273

Lindsay Fernandes
205-909-3705

MarketWire

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