All areas of Smoky Mountain real estate are beneficially impacted by the source for this week’s blog. The Wall Street Journal ran an article on January 10th, 2011 that caught my attention. This story was titled “Market for Vacation Homes is on the Rise”. The journalist explained that in 2010, popular vacation destinations across our nation experienced a surge of buying activity unseen since real estate peaked in 2006. The target areas for this article focused primarily on popular ocean front locations. Cape Cod, MA saw a 9% increase, Hilton Head, SC, increased 13.6%, Mercer Island, WA, jumped 181.8%, and Palm Beach, FL, was up 39.3% in 2010. Usually the vacation home market is not split out from other home sales. Even with federal stimulus, 2010 was not a stellar year overall, for real estate. However, this data reveals that the vacation home market may be outperforming everything else. With results buried in the general home market, it is easy to see how this got overlooked.
National Association of Realtors’ Chief Economist, Lawrence Yun feels that the U.S. economy improved enough last year, to have wealthier families begin buying second homes. Properties in these affluent areas are off their highs, and they offer an attractive investment option in these times of economic uncertainty. Despite their low percentage of the overall home market, vacation homes are often high dollar. In today’s market, this vacation home surge is good news. However, both buyers and sellers must exercise caution. Pricing is critical and must be evaluated to attract buyers. Financing for buyers has been a challenge. Big down payments and clean credit is key, or go to a cash purchase.
While our Tennessee Smokies may not be Palm Beach, we remain a popular vacation destination for much of the nation. The scenic beauty, central location, and multitude of man-made attractions make us a tourist magnet. If you are interested in our area for any type of property, go on our website, or contact us directly at 877-678-2121. We can match you up with any real estate investment that you desire.
Here are a Few of My Current Listings:
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Fantastic Mountain View & One Level! Want one level living and great mountain views? This home is for you! Private, level ground with yard and southern exposure not to mention the shady covered front porch and sunny open deck with hot tub. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $179,900 Get more information > |
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Pigeon River Right Outside Your Door! This remodeled riverfront home is a sure to please. With the calming sounds of the Pigeon River right outside your door this completely remodeled home complete with sauna and hot tub are sure to take the stress away! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $299,900 Get more information > |
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Heritage Log Home w/ Views of Mt LeConte This beautifully built Heritage log home in prestigious Chalet Village has great views of Mt. LeConte. Private yet close to downtown shopping and dining. Three master suites for privacy and on a open lot with level parking. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $349,900 Get more information > |