Located in the foothills of the Blue Ridge Mountains in central Virginia, Smith Mountain Lake is a 4-hour drive from Washington , D.C., yet feels a world apart from the hustle-and-bustle of big city life. Its laid-back lifestyle is set amongst the backdrop of a picturesque rural setting of mountains, water and woods. "Smith Mountain Lake is the best kept secret on the East Coast," says Dana Montgomery, associate broker with Prudential Waterfront Properties in Hardy, Virginia and a lifelong resident of the area. "You can't help but be in awe of how beautiful our lake is."

A wonderful place to retire or raise a family, Smith Mountain Lake is a great place for an active lifestyle. Its popular recreational activities include boating, hiking, fishing, and waterskiing. Two private golf communities and country club-living offer buyers high-end amenities and elegant living.

Smith Mountain Lake's 500 miles of shoreline provide ample places to purchase waterfront properties. "The homes here are different architectural styles," Montgomery says. "There is everything from log homes to luxury townhomes or condominiums to exquisite upscale homes and everything in between." Low taxes and a low cost-of-living add to the attraction for luxury buyers looking to put down roots or purchase a vacation or second home.

A beautiful example of the area's waterfront properties can be found in Moneta, Virginia's prestigious Waverly neighborhood. The $1.45-million, European-inspired home was designed by renowned architect, Donald Gardner. A perfect place for entertaining friends and family, the home's many features include a gourmet kitchen, formal dining, and entertainment room. Each bedroom is a guest suite with its own full bath for privacy and comfort. An outdoor terrace overlooks the lake.

The 5,229-square-foot home boasts 102 feet of water frontage on Smith Mountain Lake. A private dock with a boathouse has a jet ski and boat lift.