Foreclosures Hit A Five Year Low

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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

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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

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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 >

 

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: $189,900 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

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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 >

 

Steady Progress For The Gatlinburg Area Real Estate Market

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National real estate news continues to report positive progress for real estate as a whole and the Smoky Mountain area is no exception. The statistics through August reflect the same steady progress that we have witnessed throughout the year and with more positive changes being put in to play, such as the new we spoke about last week, we expect the trend to continue. Let’s take a look at the progress we have made so far in 2012.

In the category of Total Residences Sold we see an 18% increase over 2011. We would also like to point out that this is the highest number of single family homes sold in Sevier County since 2007.

The Total Dollar Volume Sold category shows almost $7,000,000 more real estate sold than last year. With mortgage interest rates so low buyers are very active in the market and homes are moving.

The Average Sold Price is still down however, we have maintained that as distressed properties are liquidated this will improve. The new guidelines for certain short sales that go in to place on November 1st will help move these properties along at a much more rapid pace.

Homes continue to spend less time on the market as buyers are ready willing and able to invest in real estate and sellers are taking advantage of the number of buyers in the market. Smoky Mountain properties are spending an average of 2 weeks less time on the market than they did in 2011.

We encourage those of you who have been dreaming of a home in the Smoky Mountains to take advantage of the current low interest rates and explore the wide variety of in the area. If you are thinking of selling but were holding out for the right time, we are happy to provide you with a to see what the current market value of your home may be. Our team is ready to help make your real estate goals a reality.

Here Are A Few Of My New And Reduced Listings:

Your Hillside Retreat Has produced over $27,000 in rental income for 2012 so far following great income history for both 2010 & 2011. This authentic log cabin sits atop the most beautiful lot in the subdivision. Type: Single Family Home Location: Pigeon Forge Price: $267,500 Get more information >

 

Picture Perfect Views Beautiful and private 2 acre site with postcard views. Literally, we have post cards from the 70’s that have the view from this home’s deck on them. A picture perfect view for sure. Type: Multi Family Home Location: Chalet Village Price: $422,500 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: $365,000 Get more information >

 

New Short Sale Guidelines Bring Changes To The Market

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In the past if you were upside down on your mortgage but still current on your payments you may have been told you would not qualify for a short sale. This could cause further hardship if you had experienced  a divorce, job transfer or other life changing event that was going to make it increasingly difficult to maintain your payments. Or, as a potential buyer interested in a short sale property listed on the market you may have heard how difficult and time consuming the process would be while waiting on the bank to make a decision. We have maintained in several previous posts that approving more short sale applications and improving the process will impact the market in a significant way by keeping foreclosures out of the market place. With encouragement from the National Association of REALTORS it seems that this is exactly what the FHFA is accomplishing. For many these situations may be a thing of the past with new guidelines being put into place as of November 1st of this year by the Federal Housing Finance Authority. Let’s see what a few of the changes are and how they will help change the situation of home owners, buyers and the market.

Certain home owners do not have to be delinquent to qualify:

The new guidelines will allow certain home owners who are still current on their mortgage to qualify for a short sale. To qualify you must have a mortgage that is insured by Freddie Mac or Fannie Mae. To verify if your mortgage is backed by one of these agencies you may visit http://www.FannieMae.com/loanlookup or https://www.FreddieMac.com/corporate/. 

After determining this you must have one of the following hardships:

• Death of a borrower or death of the primary or secondary wage earner in the household • Unemployment • Divorce • Long-term disability • Distant employment transfer/relocation (more than 50 miles one way) • Increased housing expenses • Disaster (natural or man-made) • Business failure

Less required documentation and faster processing:

In an effort to expedite the approval of more short sales many guidelines are being put into place to streamline the process. One key change is that home owners who have low credit scores and have missed several payments will be required to provide little or no documentation to prove the need for a short sale. This will also help buyers in the market as much of the delay in getting an approval has been waiting on the collection and review of endless amounts of documentation. To keep the process moving lenders will be required to adhere to strict time lines for considering short sales. They must review and respond to a short sale offer within 30 days, provide weekly status updates if an offer is under review for more than 30 days and submit a final decision within 60 days of receipt of the offer and completed documentation.

Financial changes:

Fannie Mae & Freddie Mac will waive their right to pursue a deficiency judgement after a completed short sale in exchange for a financial contribution towards the difference when the owner has the income or assets to enter into such an agreement. Evaluating this situation will now be part of the approval process. Special consideration will be given to military personnel who are being relocated. Service members will be automatically eligible for short sales whether they are delinquent or not and will not be required to contribute funds to cover the short fall on the mortgage. The last major financial change is that Fannie Mae and Freddie Mac will offer up to $6,000 to pay off secondary liens on the property. In the past negotiating a second mortgage could drastically slow the process down and this change will help to keep things moving forward.

These changes have the potential to benefit numerous people and we ask that if you or someone you know may benefit from a short sale of their home please reach out to us. A short sale has the potential to change someone’s financial outlook and will certainly help the real estate market by keeping a foreclosure from happening. I am a Certified Short Sale Specialist and our team has the dedication, sincerity and experience to successfully negotiate a short sale. More information about the new guidelines may be found at this website.  

Not Short Sales But Still Great Deals:

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 >

 

Great Home Or Home Away From Home Custom built home in desirable Norton Creek. It is in such good condition, you’ll think it was just finished. Thoughtful design for year around low maintenance make it suitable for retirement, second home use or as a family home. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $259,900 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 >

 

What If It Isn’t Perfect? Should You Buy That House?

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As we watch prices rising in some areas, mortgage rates staying low and foreclosures being liquidated from the market it is a perfect environment for purchasing real estate. But what if you can’t find your dream home? Let’s take a look at a few things to consider if you are torn between buying now or waiting for the perfect property to come along.

The first thing to consider when you are thinking of entering the market is financing. It is crucially important to have your financial “ducks in a row” and a mortgage pre-approval in hand before starting to look at homes. In a we explain in depth why this is so important but an additional reason is that you want to be able to make a move if you do find your dream home. As the market continues to improve houses are spending less time on the market and you will not want financing to be the only thing standing between you and your new home.

Next, make a list of your “must haves”, the things that will make a home perfect for you. From there narrow the list down. Explore why each item is a must have and decide if it is really just a want that can be worked around if the other terms outweigh not having that criteria met. Place the biggest concern on items that cannot be changed like location or in some cases square footage. When you are finished with this process you will have a list of “absolute must haves” and will be opening yourself to a wider range of possible homes to consider. Once you have found a home that meets the criteria you absolutely must have you will be able to determine if there are inexpensive ways to add the other items over time. When you visit homes remember things like furniture, appliances and decor can usually be changed inexpensively to better suit your tastes. Try to look beyond these things to the condition of the property, the potential future value and if it meets the criteria you have set on your list.

When you have found a property that is suitable for your current needs we will help you in determining the financial value of the purchase. When you combine your must haves with the financial value of a particular home you will many times find that it makes sense to move forward with an offer while rates are still low and prices have not completely recovered. Make a sound investment now and it will put you one step closer to owning a home that is perfect in every way in the future.

There are so many homes to choose from in the Smoky Mountain region at this time that we are confident once you are armed with your “absolute must have” list and your pre-approval letter you will have no trouble finding a home that is so close to perfect you will know it is time to purchase. Please take some time at our to explore some of the many options available.

Here Are A Few Of My New Listings:

Smoky Mountain Charm Has produced right around $15,000 in gross rental income for each of the last two years! Three level chalet with a bedroom and bathroom on each floor for maximum privacy. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

 

Breathtaking Mountain Views Gorgeous home in Cobbly Nob with an equally gorgeous Smoky Mountain view. Enjoy a spacious floor plan, currently configured with three bedrooms, level parking, a four seasons room and a two car garage with an attached car port. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $298,500 Get more information >

 

Totally Updated & Great Views Almost $30,000 in rental income for 2010 & 2011! High quality construction and a great view combined with tasteful updates should put this one on your short list. Type: Single Family Home Location: Chalet Village Price: $229,900 Get more information >

 

As The Market Improves, Warren Buffett Says Buy Houses

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We have seen many positive reports and predictions for the American housing market so far in 2012. Both nationwide and locally we continue to see positive signs of recovery and a slow but steady climb towards market stability. Some markets are seeing values rise as inventory decreases.

In an earlier in the year Warren Buffett praises owning homes as an investment, saying “Well, if I thought I was going to live, if I knew where I was going to want to live the next five or ten years, I would buy a home and I’d finance it with a 30-year mortgage, it’s a terrific deal. And if, literally, if I was an investor that was a handy type, which I’m not, and I could buy a couple of them at distressed prices and find renters, and again take a 30-year mortgage, it’s a leveraged way of owning a very cheap asset now and I think that’s probably as  attractive an investment as you can make now.”

Buffett also said “If I had a way of buying a couple hundred thousand single-family homes and had a way of managing—the management is enormous—is really the problem because they’re one by one. They’re not like apartment houses. But I would load up on them and I would take mortgages out at very, very low rates.”

Though most of us are not looking to purchase “a couple hundred thousand” homes, with interest rates at all time lows, it is a great time to consider adding investment homes to your portfolio. Mr. Buffett touches on the challenges of the management of investment properties, however, in the Smoky Mountain real estate market there are several options for handling the day to day care of your property. As this is a prime vacation spot, a large number of properties are used as overnight rentals which opens the door to not only making a great investment but also having a Smoky Mountain get away of your own. If you prefer a more hands on approach many investors in the area have had success with using online marketing tools and handling the rental and management of their properties themselves. With this option you may also consider the use of a company such as , which offers customized care plans for absentee owners. They work both with homes that are vacation rentals by owner and second homes that are not used as rental. They offer a wide variety of services from cleaning and maintenance to just stopping by to open the windows and make sure everything is in order. If you prefer to be less involved there are a number of vacation rental management companies in the area that will handle the daily details and offer a wide variety of services. Our team has great relationships with these companies and we will assist you in identifying the management solution that will be a fit for your investment goals.

The Smoky Mountain real estate market offers a wide variety of choices in investment properties. Why not take a look at our to see all that is available? If you see a property that looks like it has potential to add to your investments, let us know, we are here to help you obtain additional information about rental income history, market statistics and monthly expenses.

Here Are A Few Of My Featured Investment Properties:

Private Chalet Minutes To Downtown Produced $23,207 rental income for 2010 & right at $20,000 for 2011! Great location only a mile from the 441 Parkway and about 1.5 miles to downtown Gatlinburg. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

 

Close To Downtown Well over $30k rental income in both 2010 & 2011! Well built cabin in excellent condition within the city limits of Gatlinburg. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $289,900 Get more information >

 

A View From Above Did over $94K in rental income for 2010 & over $97K in 2011!!! Outstanding view of Mt LeConte in Smokies, with 5 master suites, media room, close to Gatlinburg, ski resort and National Park! Fully furnished! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $699,900 Get more information >

 

Smoky Mountain Real Estate Continues To Gain Ground In July

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The year has been positive so far for the Smoky Mountain real estate market. Looking at the market statistics through July we see continued improvement in most categories for single family homes in Sevier County with some areas showing huge gains over last year. Buyers are very active and properties are moving. Let’s see what the numbers have to tell us.

The category of Total Residences Sold shows that buyer activity remains strong with a 15% increase from 2011.

Total Dollar Volume Sold goes hand in hand with the last category and reports $5,203,117 more real estate sold than last year. We are also seeing homes in higher price ranges selling this year which will continue to push the increases in volume.

The Average Sold Price still lags behind 2011 but continues to improve every month. With the balancing of inventory occurring as distressed sales leave the market and homes in higher price ranges are selling we believe this category will continue moving towards being stabilized.

The Average Days On Market lets us know that sellers are ready to sell and buyers are ready, willing and able. From last year homes are spending 6% less time on the market and the number has shown gains from 2011 each month.

The Smoky Mountain region is a hive of real estate activity and opportunities. If you have been dreaming of owning a home near the National Park now is a great time to take a look at the and find your perfect get away. Our team is ready to help you every step of the way.

Here Are A Few Of My New Listings:

Fantastic Rental Income!! Fantastic rental income! Produced over $26,000 in rental income in both 2010 & 2011! Lots of features you want in a Smoky Mountin retreat. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $185,000 Get more information >

 

Quality Features & Mountain Views If you are looking for your own home away from home you must see this quality three bedroom. Fantastic Smoky Mountain Views, attached garage, workshop & much more. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $349,900 Get more information >

 

Great Price On A Gatlinburg Home Cute vintage chalet practically walking distance to Gatlinburg. Always used as a second home and perfectly suited for a weekend family get-away. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $89,900 Get more information >

 

Is A Condo The Key To Your Smoky Mountain Dream?

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Considering a purchase in the Smoky Mountains but feel that owning a single family home will require too much upkeep or is out of your budget? A condo may be a great ownership solution. Let’s take a look at some of the benefits of owning a condo.

Most condos require very little maintenance, making it a convenient choice for many buyers. Yard work, snow removal and building upkeep are usually included in your association fees and managed by the owner’s association. This is a great perk if you are looking for a Smoky Mountain get away and are worried about who will take care of things while you are away. Many condo communities also offer a pool, clubhouse, workout facility and sometimes a barbecue area for your use. When you come to relax at your Smoky Mountain home these extra amenities can go a long way to giving your vacation a resort like feeling.

In the Gatlinburg area many condo units come with a huge benefit – astounding Smoky Mountain views. Imagine coming to visit your private mountain oasis and knowing that it will be an entirely stress free vacation surrounded with amenities and the beauty of the Great Smoky Mountains. Your yard is already well manicured, perhaps a balcony overlooking the mountains awaits and later you can enjoy a dip in the pool.

As we can see there are many benefits that purchasing a condo may offer but there are also several things to consider prior to a purchase. These are some important questions that our team will assist you with when you have identified a potential property:

How much are the condo fees and how often are they billed? This is an important factor when you are calculating your purchasing budget.

What do the condo fees include? It will be important to know what amenities and services are included as you are trying to identify a community that will fit your needs. Some associations also include certain utility costs which will be helpful information when determining the cost of owning.

What are the restrictions of the community? Many associations have by-laws that must be followed by all unit owners. These can include a number of things pertaining to pets, renting out your unit and more. These will factor in to your choice of locations to purchase.

Does the association collect reserve funds for big repairs and improvements? If so how & when are they collected?

There are  many different condo options available in the area and we are happy to answer any questions you may have as you determine if one of them may be a fit for you. Why not start by browsing our website to see all of the opportunities that are available for purchase? If you are ready for a Smoky Mountain home that will provide you with the luxuries of a true vacation it may be time to look more closely at how a condo purchase could benefit you.

Here Are A Few Of My Featured Condo Listings:

Worry Free Home In The Mountains Best views anywhere in the county. Really close to Great Smoky Mountain Nat’l park with direct views of all the big peaks plus the ski resort and the city lights of Gatlinburg. Type: Condo Location: Chalet Village Price: $94,900 Get more information >

 

Affordable Mountain Get Away Perfect affordable family mountain get-away in this first level studio unit at the Gatlinburg Summit Condominiums. Cozy fireplace, private balcony and great view. Type: Condo Location: Chalet Village Price: $45,900 Get more information >

 

Affordable Studio Unit In The Mountains Perfect affordable family mountain get-away in this totally refurbished studio unit at the Gatlinburg Summit Condominiums. Type: Condo Location:
Price: $39,900 Get more information >