A Summary Of The 2012 Smoky Mountain Real Estate Market

Posted by Gatlin on January 3, 2013

We hope each of you had a great New Year! As we move in to 2013 we would like to look at the final statistical numbers for 2012 that the Great Smoky Mountain Association Of REALTORS has released. If we go all the way back to the statistics early in the year we know 2012 started with a whirlwind of activity and the trend continued all year. Let’s take a look.

In the category of Total Residences Sold we finished out 2012 with an overall increase of 12%. Buyers were very active throughout the year and took advantage of all time low mortgage rates.

In conjunction with the above category Total Volume of real estate sold in the area was also up with an increase over last year of over $11,000,000.

Prices were still down at the close of the year but have continued to show improvement. As supply continues to dwindle prices will keep pushing towards positive numbers.

The amount of time homes spent on the market showed a decrease of 2.5%. As market factors continue to stabilize we expect to see this number continue to improve.

We would also like to note that 2012 finished with only a 3% increase in inventory vs. 2011. This is an improvement from the 2011 vs. 2010 number which showed a 9% increase. If financing continues to stay at low rates, which we expect it to, inventory will continue to decrease resulting in a balancing of supply and demand in the Great Smoky Mountain region.

It’s a fresh new year and we expect 2013 to continue the upward trend for real estate. It may be the right time to consider an investment or second home purchase in the mountains. Take a look at what the market has to offer by visiting our . We are happy to help with making your Smoky Mountain real estate dream become a reality!

Here Are A Few Of My Featured Properties:

Old Time Charm On 6 Acres!! Charming vintage log cabin updated with modern conveniences but with old time charm sitting on 6 beautiful wooded acres. Type: Single Family Home Location: Pittman Center Price: $179,900 Get more information >

Beautiful Mountain Sunsets Incredible large diameter log construction creates a special, solid, and timeless appeal. Type: Single Family Home Location: Pigeon Forge Price: $450,000 Get more information >

Charming & Authentic Log Cabin Did $22,907 in rental income from April – December of 2011. Charming and authentic log cabin located in desirable Sky Harbor community between tourist centers of Gatlinburg and Pigeon Forge. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $169,900 Get more information >

Economists Continue To Report Good News For Real Estate

Posted by Gatlin on December 27, 2012

In a news release on December 20th the National Association of Realtors shows that market conditions continued to improve in November, with lowering inventory and rising prices. The article states that total existing home sales including single family homes, town-homes, condos and co-ops rose 5.9% in November which reflects a 14.5% increase from November of 2011. Lawrence Yun, NAR Chief Economist, said “Momentum continues to build in the housing market from growing jobs and a bursting out of household formation”. Let’s take a more in depth look at the breakdown of the numbers.

One of the big factors contributing to the market recovery is the lowered inventory of distressed homes on the market. Foreclosures and short sales only made up 22% of the sales in November, down from 24% the previous month and 29% in November of 2011. These properties were only showing average discounts of 16-20% from market value, a sign of increased demand. Yun said “The market share of distressed property sales will fall into the teens next year based on a diminishing number of seriously delinquent mortgages”. The current low interest rates and availability of programs to assist home owners will continue to contribute to the reduction of this type of home inventory.

Total housing inventory at the end of November represented a 4.8 month supply with sales at their current pace. This is the lowest supply the market has witnessed since September of 2005. We are also seeing time on the market decrease both nationally and locally with the national stats showing a 28.6% decrease from the same month last year.

As demand increases prices are expected to continue their steady rise. The national median price for existing homes was $180,600 last month. This is not only the ninth consecutive month of year over year gains but also represents a 10.1% increase in price from last November. The last time we were able to see price increases sustained for this many months in a row was from September of 2005 through May of 2006.

We believe that this positive trend will continue through the end of the year and in to 2013. Next week we will take a look at how 2012 finished out for the Smoky Mountain real estate market. The following months of January and February are traditionally a flurry of activity for our area when a large number of buyers visit to view homes. If you have been thinking of coming to explore the market give us a call or email, we are happy to schedule an appointment. If you have a home to sale, now may be the time to ask for a , you may find that now is the time to list.

Here Are A Few Of My Featured Homes:

Relax & Enjoy The View A true opportunity to own a relaxing and stress free home away from home in the mountains. This is a very attractive unit with stunning mountain views from it’s top floor location. Type: Condo Location: Chalet Village Price: $92,500 Get more information >

Custom Built Home On The River Custom built home on the Pigeon River with year around mountain views in one of Sevierville’s most sought after neighborhoods. Type: Single Family Home Location: Sevierville,TN Price: $349,000 Get more information >

Tucked Away Above It All What a great deal on a nice, clean & spacious mountain get away. Type: Single Family Home Location: Chalet Village Price: $112,000 Get more information

The Smoky Mountain Real Estate Market Keeps Climbing

Posted by Gatlin on December 6, 2012

As we take a look back at the first 11 months of 2012 we see signs that 2012 will be a year marked as the time when things began a steady turn around for the real estate market. With positive news from economists, various markets throughout the country and improving statistics it is hard to ignore that real estate is climbing towards a recovery. Let’s take a look at the year to date numbers for Sevier County.

In the category of Total Residences Sold Through November we see an improvement of 14% versus the same period of 2011. As mortgage rates are staying low and the cost of rent rises we expect to see more first time buyers enter the market with Trulia reporting that almost 80% of renters surveyed said they plan to buy a home.

Total Dollar Volume Sold maintains it’s pace with an 8% increase from last year.

The Average Sold Price is still slightly down but shows an improvement from last month. New home construction is slow and is helping to push prices up. The presence of foreclosures as competition also continues to decrease as many owners have been able to take advantage of new programs to stay in their homes.

Average Time On The Market stays steady at 3% less time than last year. Properties in the area are spending just at six months on the market as an average.

According to CoreLogic National home prices have been moving up for eight consecutive months with the largest increase since June 2006. The National Association of REALTORS reported in October that the inventory of available homes was down 22% from last year and at the lowest inventory since February 2006. As the numbers continue to improve it could be time to request a to determine what price the current market will bear for your property, you may be pleasantly surprised. If you are considering a purchase now is the time to take advantage of still low interest rates as NAR predicts that mortgage rates will stay low in 2013 but will rise to an average of 4%. Ready to browse? Visit our for access to all Smoky Mountain area properties that are available.

Here Are A Few Of My Featured Listings:

Build Your Dreams
Great opportunity to make your Smoky Mountain Dreams come true. 1.8 acre residential lot located centrally to both Gatlinburg and Pigeon Forge.
Type: Land
Location: Gatlinburg ,Tennessee
Price: $69,900
Get more information >

Impressive Remodel
The effective year built on this cabin is basically 2009. A very impressive top to bottom remodel has totally transformed it into one the nicest and most up to date you’ll find.
Type: Single Family Home
Location: Chalet Village
Price: $488,000
Get more information >

Custom Built Home On The River
Custom built home on the Pigeon River with year around mountain views in one of Sevierville’s most sought after neighborhoods.
Type: Single Family Home
Location: Sevierville,TN
Price: $379,700
Get more information >

Why Purchase In The Smoky Mountains?

Posted by Gatlin on November 29, 2012

Whether you are considering a permanent move, looking for an investment or a second home there are numerous reasons why the Great Smoky Mountain area is a great choice to consider. With a variety of locations, year round beauty and the inspiring mountain backdrop it is a wonderful place to call home.

Gatlinburg is a rare gem. This tiny city may very well have been lost such as many remote southern rural towns. However, the creation of the Great Smoky Mountains National Park changed the destiny of this city immediately. Restaurants and hotels sprang up rapidly to accommodate the influx of tourists coming to see the “Nation’s Most Visited National Park”. Hemmed in by mountains on all sides, Gatlinburg is never at a loss for magnificent views. Clean, rocky, boulder-strewn creeks and rivers run through the city with a beautiful zen-like quality. Wildlife such as; deer, black bear and turkey roam the area even into the city. Ober Gatlinburg gives the city the allure of being a ski resort/winter sports center. Year-round activities and festivities keep this tiny burg hopping. The topography of this location makes it easy to access the city amenities and within minutes you can escape to the seclusion of your own private cabin, chalet or condo.

The greatest appeal of Pigeon Forge is the natural surroundings that boast four distinct and mild seasons to satisfy the lifestyles of all residents and visitors alike. It is close to The Great Smoky Mountains National Park Entrance and a short drive to Cades Cove. Homes for sale in Pigeon Forge, Tennessee are reasonably priced and exceptional in value. Buyers looking to relocate or invest in a second home, will find the real estate market in Pigeon Forge to be varied in styles and amenities, offering mountain charm and modern conveniences, surrounded by the tranquility and hanging blue mist of the Great Smoky Mountains.

Located between Pigeon Forge and Townsend, Wears Valley is a peaceful and secluded setting surrounded by breathtaking mountains and within reach of the Great Smoky National Park by way of Metcalf Bottoms, its own entrance to the National Park and one of only five. Wears Valley is a prime location for investment properties, second homes for peaceful vacations, or single family homes for full-time residents. The low crime and tax rates of Sevier County, along with excellent public schools run by the Sevier County School District, are what make Wears Valley a fabulous location to own property.

These are just a few of the distinctive locations to consider in the Great Smoky Mountain region. Looking at just these three locations leaves no doubt that Sevier County is a prime location to consider a real estate purchase. All of this coupled with an improving real estate market make now a great time to start looking. We invite you to begin at our to search out the right opportunity for you.

Here Are A Few Of My Featured Listings:

Gone With The Wind Almost $22k in rental for the first 10 months of 2012!! If you have dreamed of having a luxury chalet on top of the mountain with sweeping views of the valley, city and mountains then you have to look at this one. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

Walk To The Parkway Three level log cabin in the heart of Pigeon Forge that is walking distance to the action packed Parkway and the trolley stop. Type: Single Family Home Location: Pigeon Forge Price: $199,900 Get more information >

87 Gently Rolling Acres Await 87 gently rolling mountain top acres with outstanding 270 degree uninterrupted panoramic views of the major peaks of the Great Smoky Mountains National Park including Mt. Cameror, Geyot, Webb, Greenbriar, and LeConte. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $1,750,000 Get more information >

Moving In To Winter The Smoky Mountain Market Is Still Heating Up

Posted by Gatlin on November 8, 2012

It’s time to take our monthly look at the Smoky Mountain area real estate statistics. Following the trend we have witnessed in previous months the market is still showing good news. Once we take a look at our usual categories for 2012 we would also like to discuss changes in the year to date 2012 vs. 2011 statistics compared to the 2011 vs. 2010 trends. There we will find signs of improvement as well.

In our first category of Total Residences Sold Through October we stick with the same upward swing we saw in September with an 18% increase over the same period in 2011.

The Total Dollar Volume Sold reflects the above numbers with a 9% increase from last year. That equates to almost a fifteen million dollar increase in volume sold.

The Average Sold Price is down 8% but still shows a 1% increase from September. We have watched this category work its way towards positive numbers throughout the year.

The time homes for sale spend on the market also continues to improve with a 3% drop from the same period last year.

The market continues to improve and we feel the following data is also important to share:

*2012 vs. 2011 total volume is up 9% compared to 2011 vs. 2010 being down 11%

*2012 vs. 2011 number of homes sold is up 18% compared to 2011 vs. 2010 being down 8%

*We started 2012 with 13% more inventory than the previous year and through October there are only 4% more homes available on the market than the same period in 2011.

We expect the numbers to continue the upward swing and feel now is the time to start looking for your Smoky Mountain home. Inventory is decreasing and homes are spending less time on the market. As this continues prices will also continue to improve. Take a look at our website to for your next purchase.

Here Are A Few Of My Featured Listings:

Log Home On Over 3 Acres Charming farmstead Appalachian style log home on over 3 beautiful wooded acres of idyllic Smoky Mountain countryside. Enjoy ridge views along with lots of hardwoods, rhododendron, mountain laurel, hemlock and dogwoods throughout the four seasons. Type: Single Family Home Location: Pittman Center Price: $159,900 Get more information >

Money To Be Made!!! Income potential with consistent rental history. $25,737 in 2009, $26,127 in 2010 & $20,352 in 2011. Don’t miss out on all these features! Type: Single Family Home Location: Chalet Village Price: $169,900 Get more information >

Great Price For Views Like This Spectacular views and luxury abound in this perfect vacation cabin high above Gatlinburg. Won’t last long with views like this! Type: Single Family Home Location: Chalet Village Price: $169,900 Get more information >

Top Advice For Buyers & Sellers From The Team

Posted by Gatlin on October 25, 2012

We would like to take a moment to congratulate everyone at Century 21 Four Seasons for an outstanding 2012. Our firm is ranked #1 in gross sales for the year with $48,037,391 in real estate volume to date. Our team is excited to be a part of the number one firm within the Great Smoky Mountain Association of REALTORS. Because of the support of a great company and all of our clients past and present I am able to congratulate everyone who is a part of The Jason White Team for ranking in the top three agents consistently throughout the year. As a team we offer top notch services, expert knowledge and a sincere desire to make each real estate transaction a fantastic experience for our clients.

As the market continues to change on a daily basis it is important to know that you have a team that is in the pulse of what is happening to help you navigate your real estate transaction. Today we are going to offer some top tips and advice from each member of the team to assist you as you consider buying or selling a home in the Smoky Mountain real estate market.

For sellers: As the team’s listing agent I work primarily with those wishing to get their homes on the market and sold. The following are the three things that I believe will help to prepare you for the process of having your home on the market.

*Even though the statistics show the market improving many buyers are still in the mindset of being able to purchase properties at a discount. Be prepared for low offers, even insulting offers. Don’t take it personally! Take a moment to look at it from the buyer’s side – everyone wants the best deal possible. Be willing to start negotiations and view even a low offer as an opportunity to get to the result that you are looking for.

*Make your house shine. First impressions are the most important in real estate and there is a lot of competition on the market. When we have a showing we want yours to be the one that stands out. If you were selling your car you would take the time to clean it up, maybe even have it detailed right? It’s the same for your house. A fresh coat of paint, a good cleaning and attention to needed maintenance will go a long way towards helping you get an offer.

*Stay focused on the outcome not the process. With the number of homes on the market it is important to be patient and stay flexible. It may take some time to get an offer and once you do the process from offer to closing may be demanding but we are here to help navigate the process and make it as smooth as possible. A buyer may need more time to close because of their lender, there may be repairs to be made and the closing company is going to need information. Knowing that these things may occur ahead of time will help you to avoid frustration during the transaction.

For buyers from Stephanie Huskey: Stephanie has been active in the Smoky Mountain real estate market for 7 years and is a dedicated Buyer Specialist. Here are her top three tips for those considering a purchase in the area.

*Give yourself time to look and be flexible. With this being a busy vacation area many properties you are interested in may not be available on certain days, especially weekends. Purchasing a home is a serious investment and is worth taking a few days away from other obligations when you are ready to look. Scheduling a trip during the week instead of on a weekend will make your trip much more productive as more homes will be available and there will be less traffic to delay your day.

*Know ahead of time what your “must haves” are. This will help me to condense the list of homes we view and insure that your time is spent looking at homes that have the qualities you desire.

*The market is moving at a pretty rapid pace. It is crucial to have a mortgage pre-approval or proof of funds letter in hand when you come to look. Many sellers will not even approve a showing unless we are able to provide this ahead of time.

For buyers from Suzanne Walls: Suzanne is also a Buyer Specialist and has 10 years of experience helping buyers reach their real estate goals. She says these are the three things to know when you are ready to start looking at mountain homes.

*Know that the Smoky Mountain market is a prime investment area and our prices may not reflect the discounts that are still available in other markets. Throughout 2012 the market has improved and homes are selling for an average of 93% of asking price.

*All of the areas we serve offer different amenities. Know ahead of time what is most important to you about location such as views, level roads or mountainous and proximity to town. Doing this we will help us make sure we are spending your time here at homes you will love.

*Be prepared to make an offer. When you see “the one” you want to be able to make an offer right away. If you are rating a home as a 9 or 10 someone else is too. The market here is very active and homes are moving.

We are here to help when you are ready to buy or sell. at all of the opportunites available and know you will be in great hands when the time comes to start looking or to put your home on the market.

Here Are A Few Of My Featured Listings:

Beautiful Honeymoon Cabin Produced right at $16,000 in rental income for 2011. Tidy and cute one bedroom honeymoon cabin all on one level. Type: Single Family Home Location: Pigeon Forge Price: $109,900 Get more information >

A Place To Remember Step inside this beautiful mountain home and you will quickly see why it is named A Place To Remember. Features five private master suites and did over $30,000 in rental income for 2011! Type: Single Family Home Location: Chalet Village Price: $389,900 Get more information >

Heirloom Quality Throughout Not often does a living piece of history come available for sale, perhaps once a generation. Such a time is this. Heirloom quality throughout this solidly built stone cottage boasts quality not often seen in homes built today. Type: Single Family Home Location: Pittman Center Price: $329,000 Get more information >

Foreclosures Hit A Five Year Low

Posted by Gatlin on October 18, 2012

Throughout this year we have watched the signs of a market recovery begin to happen. The Federal Reserve has pushed mortgage rates to all time lows, buyers are active in the market, homes are selling faster and prices are beginning to stabilize. In a report released last Thursday by Realty Trac we see even more good news. The online foreclosure website reports that foreclosure filings were more than 16% down from last year. That is a large percentage and can have a huge impact on the market. Numerous factors have contributed to the improvement. Many of the programs and new guidelines that the government and the banks have put in to play to assist homeowners are getting firmly rooted. Many banks are aggressively working to get short sales approved and to assist owners with refinancing at these new lower rates when possible. The government’s Home Affordable Modification Program has helped more than a million borrowers obtain more affordable mortgages allowing them to avoid a foreclosure situation according to an article on CNN Money.

As the pace of foreclosure filings slows down it will begin to be harder to find deeply discounted deals on the market. This will push the market more towards stability as prices are forced to level out. Barclays Capital recently reported that home prices could be back to peak levels as soon as 2015. Rick Palacios, senior analyst with John Burns Real Estate Consulting said “We think the recovery is for real this time around. If you look across the U.S. economy right now, there are only a handful of industries looking at 20-30% growth over the next 4-5 years and housing is one of those.”

The housing market deeply touches the overall economy and we believe an improving market will help the entire economy to improve. Roger Altman, chairman of Evercore Partners and former Deputy Treasury Secretary, said in an article for Financial Times “That turn in the housing market is occurring now and it should become a boom by 2015. It will be powerful enough to lift the entire U.S. economy.” Altman expects housing to add 4 million jobs to the economy over the next five years.

Though we are all excited to see the market improve it does mean that the days of hugely discounted properties are coming to their end. There are still plenty of very well priced homes available on the market and now is the time to if you are thinking of an investment or second home purchase in the Smoky Mountains to take advantage of still low prices.

Here Are A Few Of My Featured Listings:

Enjoy Views Of Mt. LeConte Over $25,000 rental income so far in 2012! The scenic setting with views of Mt. LeConte along with lots of native flowering shrubs and dogwoods make this a peaceful place to spend time. Type: Single Family Home Location: Chalet Village Price: $219,900 Get more information >

View City Lights Against The Mountains Absolutely amazing views of downtown Gatlinburg and the Great Smoky Mountains National Park. Incredible close up night lights view, you can actually see people on the sidewalks with a dramatic mountain backdrop. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $339,900 Get more information >

Close Up City & Mountain Views Over $40,000 rental income for 2010 & 2011! This is designed to be a year around home or an income producing rental. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $439,900 Get more information >

As The Leaves Continue To Change, So Does The Smoky Mountain Real Estate Market

Posted by Gatlin on October 4, 2012

As we enter the last quarter of 2012, the Smoky Mountain real estate market continues to change in a positive way. Outpacing 2011 in most categories, 2012 is shaping up to be one of the best years for real estate in recent memory. Buyers are very active in the market and property is moving. The next three months are expected to remain steady as the final quarter of the year has consistently been the busiest for the Smoky Mountain area. Let’s see how the first nine months of 2012 have shaped up.

September continues last month’s pattern, remaining at 18% more homes sold than the same period in 2011. We expect the numbers to keep climbing through the next three months, continuing to outpace recent years.

In line with the big increase in homes sold, the total dollar volume sold is up from 2011 by 7% or just over ten million dollars.

The average sold price is the only area that has not shown an increase with prices down 9% from last year. The numbers are improving as the year continues with September showing a 2% increase from last month. As inventory keeps moving off the market the prices should continue their climb towards positive numbers.

Buyers are taking advantage of the all time low interest rates and still low prices on Smoky Mountain homes. Homes are spending an average of 8% less time on the market in comparison to 2011.

Now is a great time to begin a search for your Smoky Mountain home. There are over 4,000 single family homes available to choose from in Sevier County and we are positive we can find the “perfect” one for you. Take a minute to visit our website and browse all of the . When the time is right we are ready to help you make your move towards owning in the Great Smoky Mountains.

Here Are A Few Of My Featured Listings:

Beautiful Setting On The River Consistently produces almost $40,000 gross annual income!! Once you see it you’ll never want to leave. Directly on the pristine Middle Prong of the Pigeon River, found to be the cleanest river in the state by the Tennessee Resource Defense Council. Type: Single Family Home Location: Pittman Center Price: $399,900 Get more information >

Large Lot & Ready To Move In To Very nice neighborhood with quality homes on big lots in a scenic setting. Easy access to both Sevier County and Knox County via pretty country roads. Type: Single Family Home Location: Sevierville,TN Price: $229,900 Get more information >

Busy Location for Office/Residential! Great, busy location ideal for commercial office site. Has a separate entrance for lower level so could be used for two businesses or in-law quarters if used for residential. Type: Office Location: Sevierville,TN Price: $249,900 Get more information >

Navigating The Changes In The Real Estate Market

Posted by Gatlin on September 27, 2012

In an article dated September 12th, CNN Money reported that several markets are seeing up to a 24% drop in available inventory and multiple offer situations becoming a regular occurrence. Throughout the year the statistics have shown that the Sevier County market continues to improve with more homes sold and total days spent on the market decreasing almost monthly from last year. There are still plenty of great buys to be had in the Smoky Mountains but with an ever improving market and a faster pace than has been seen in recent times it is more important than ever to be prepared when you are ready to start looking for a home. There are several things to consider before entering the market, let’s take a look at a few.

We cannot stress enough how important it is to start the financing process before you start looking. With a fast paced market, having a pre-approval letter in hand when you make an offer will give you numerous advantages. The more information you are able to provide to your lender ahead of time the better as it will give the seller confidence in your offer and potentially allow you a faster closing date. A seller is not always looking for the highest offer but sometimes the one that has the least amount of contingencies. As lending guidelines remain strict many offers are taking 45-60 days to close and being ahead of the game will put you ahead of any competition for the house. For more information about getting pre-approved please visit this .

Another consideration is researching the area and familiarizing yourself with locations that you would enjoy. Part of narrowing this down will include knowing what your goal for the use of the property is going to be. Are you looking for a get-away that only you will use or an investment that will be used as an overnight rental to help offset the costs of ownership? If it is going to be used as a rental, talk with some different rental management companies and see whom you may be comfortable with using after the closing. We work closely with the management companies in the area and are happy to assist in finding a good fit.

Knowing ahead of time what items are “must haves” and what items you are negotiable on in your future purchase will help when it is time to decide on the property you wish to make an offer on. Having this information in hand when viewing properties will help you avoid allowing time for another buyer to come along and create a multiple offer situation. Remember, if you are in a house and rating it as an 8, 9 or 10 someone else is likely to feel the same way. If you are concerned about not finding your ‘perfect’ home you may enjoy the article It offers strategies for streamlining the decision process.

As the market continues to improve and mortgage rates remain at all time lows, now is the time to prepare for your potential purchase. Having the details in line ahead of time will put you one step closer to turning your Smoky Mountain dreams into a reality. We are available and happy to assist you with any of these steps and when you find the right home we will work to provide you with market data for similar homes and to make sure that your purchase and closing process move full speed ahead. Spending some time will allow you to start on that “must have” list. Next week we will take a look at the market statistics for September and see how much the Smoky Mountain real estate market has continued to change.

Here Are A Few Of My Featured Listings:

Exquisite Smoky Mountain Views Over $60,000 in rental income for 2010, 2011 and already in 2012!! Well crafted three level chalet resting atop 1.35 private acres with views of the Great Smoky Mountains. Type: Single Family Home Location: Chalet Village Price: $497,000 Get more information >

Functional Work Of Art W/Stunning Views Once you see this functional work of art that doubles as a spacious home you’ll never want to leave. Type: Single Family Home Location: Chalet Village Price: $950,000 Get more information >

Big Plans For Sevier County Make Now The Time To Invest In Real Estate

Posted by Gatlin on September 20, 2012

In July about the potential new sports complex for Gatlinburg and the opening of the LeConte Center in Pigeon Forge that is scheduled for 2013. Recent news shows that the sports complex project is moving full speed ahead and Pigeon Forge is already lining up events for the LeConte Center. The county expects to see huge tourism and revenue gains from both projects. So how are they stacking up and what kind of impact will the Smoky Mountain real estate market see?

On Monday night the County Commissioners were all in agreement with a resolution to partner with the City of Gatlinburg on the sports complex project. This 70/30 partnership will assist with the funding of the project and keep things moving forward to completion. The city and county will be entering into an agreement with the school system to include use of their existing sports facilities when the complex is hosting events. The facility will draw more visitors to the area as families come for tournaments. The Sports Facility Advisory Founder, Dev Pathik, said “I believe people will want to come here and have unique experiences. That’s a rare opportunity.” Vacation lodging will feel the effect of the increase in visitors as well as a potential lengthening of the tourist season in the area.

The LeConte Center, slated to open in September of 2013 is a huge event complex that is expected to generate more than thirty four million dollars to the area. They have already drawn the attention of , previously held in Louisville, KY. After 20 years in Louisville the convention has committed to at least 2 years in Pigeon Forge to give the area a try. They are interested in the diversity of attractions and lodging available for the more than 40,000 people it expects to bring to the area. The Louisville Courier Journal says that this is the world’s largest gathering of southern gospel musicians and fans and has an economic impact of an estimated $8 million. Phil Campbell of the Pigeon Forge Hospitality Association expects the relationship to last much longer than the currently contracted two years. Campbell says “If they come here and find it suitable and if attendance is good, they’ll stay a lot longer.” Starting in 2014, this annual event is sure to increase rental revenues.

Other reports show that the area is outperforming both Branson and Myrtle Beach in tourism for 2012 with Branson actually seeing a 1.1% drop from their numbers of 2011. Steven Morse, an economist from The University of Tennessee says “I think Sevier County has done well because of the strong brand image the entire county represented. That strong brand image is ‘value family vacations.’

With all of these pushes that will increase the already large amount of visitors to the area the value of investment property is sure to increase. Sevier County is already seeing an improved real estate market from last year. As rental income increases for investment homes in the area it will keep the trend moving upward. There are numerous opportunities to own a vacation rental property in the area and we encourage you to take a look at and begin exploring what is available. Now is the time to start thinking about the future impact of these projects on the Smoky Mountain real estate market.

Here Are A Few Of My New And Featured Investment Properties:

Mount LeConte Views Over $30,000 in rental income for 2011!! Beautiful views of Mt. LeConte & the smokies from all three levels of this chalet in sought after Chalet Village North. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

Ready To Make You $$$ There is $$$ to be made – produced almost $33,000 in rental income for 2011!! Excellent views of the the Smokies along with year around sun rises from both floors of this 5 bedroom 5 bath chalet. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

Consistent $$$ Maker At A Great Price!! CONSISTENTLY RENTED OVER 200 DAYS PER YEAR FOR THE PAST FOUR YEARS, WITH REVENUE RANGING FROM $38,000-$41,000! Wonderful and spacious 3-level cabin tucked away in Gatlinburg and only a short drive to the Great Smoky Mountains National Park! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $250,000 Get more information >

Category: Local Market Statistics