Gatlinburg Real Estate Blog

Thanks David! Paul, yours IS the really important ...

2012-01-18T20:45:30.820-05:00

Thanks David! Paul, yours IS the really important question. Nobody (not even the banks???) knows what the backlog of foreclosure properties really is and that is what is so very frustrating. I was assigned 3 new properties by Fannie Mae just today but interestingly, all of them appear to be residences, not vacation rental type properties. That is not, however, meant to imply that the remaining foreclosure properties are all (or even primarily) residential type homes. I do know that some of the properties we are seeing have been vacant for a year so one would have to assume that some backlog does exist. The positive news is that activity levels are definitely up, and prices are now well below the cost of replacement and both of these conditions should have a positive influence on prices. My gut instinct is that we have at least another year or two of continued high numbers of foreclosure properties which will doubtless continue to constrain prices.

Jeff - Is it a fair statement to say that there is...

2012-01-18T13:07:13.302-05:00

Jeff - Is it a fair statement to say that there is a large back log of foreclosure properties that the banks have yet to put on the market for the Gatlinburg area? Also, if such a backlog exists, what is your gut feel for how long it would take to work through the backlog? I ask because the if the volume of foreclosures remains steady or increases for the next 2-4 years, it sure isn't going to help reverse the pricing trend you've illustrated above.

Thanks!

Nice informative blog, thanks for sharing.

2012-01-03T13:50:38.940-05:00

Nice informative blog, thanks for sharing.

This is a GREAT post! I hope you not mind. I publi...

2011-12-26T03:48:36.551-05:00

This is a GREAT post! I hope you not mind. I published an excerpt on the site and linked back to your own blog for people to read the full version. Thanks for your advice.

Hi,Thanks for leading me to your Blog from a comme...

2011-12-25T01:19:33.223-05:00

Hi,Thanks for leading me to your Blog from a comment left on my Blog, some great stuff here, will bookmark it, Thanks again!

Yes I agree with you that September consider to be...

2011-12-23T02:53:44.330-05:00

Yes I agree with you that September consider to be a great month by which 149 residential units were reported sold by the MLS.

Can you tell how many of these sales were foreclos...

2011-12-20T11:13:51.163-05:00

Can you tell how many of these sales were foreclosures or short sales? I hope you say none!

Sounds interesting.I guess this would be the oppor...

2011-11-11T08:32:30.106-05:00

Sounds interesting.I guess this would be the opportunity for someone who want to put up their business in this particular area.

best regards,

seattle relocation

Thank you, thats very interesting information. I n...

2011-10-24T04:55:42.547-05:00

Thank you, thats very interesting information. I need to share with my friends.

It is always nice to go back in this place again, ...

2011-09-15T05:57:07.095-05:00

It is always nice to go back in this place again, air are fresh, noiseless and breathtaking views. It is one of the must adorable place like villas and condos in Thailand.

Its really disappointing. But soon you'll be a...

2011-08-26T02:18:23.771-05:00

Its really disappointing. But soon you'll be able to increase your sales. God Bless

2011-08-26T02:11:28.454-05:00

This comment has been removed by a blog administrator.

Gatlinburg Exclusive, you couldn't be more rig...

2011-08-06T05:00:10.112-05:00

Gatlinburg Exclusive, you couldn't be more right - July real estate results were good but it isn't a trend just yet. Although there are signs of a improvement we are still off from last year's lackluster levels when comparing year to date totals.

I know that Gatlinburg tourism has a long way to go to get back to pre-recession levels as well. The Smokies have traditionally done quite well during difficult economic times when compared to other vacation destinations. For that reason there is a pretty good argument that will be the case again. Of course, a long weekend in the mountains is much more affordable than a week at the beach and that attracts families with limited vacation budgets. My prayer is that a recovery of this sort happens very soon...

That's certainly good news. Now, if only the t...

2011-08-05T21:41:54.436-05:00

That's certainly good news. Now, if only the tourism numbers in Gatlinburg would start shifting to their pre-2008 levels. All in all, though, tourism in Gatlinburg has had a pretty good summer, but it's a long way from where it needs to be; as I'm sure is the case with real estate.

There are hidden and beautiful properties we do no...

2011-07-13T02:22:25.570-05:00

There are hidden and beautiful properties we do not discover.Real estate companies need hidden properties because they can sell it in a higher amount.

Memphis Real Estate Seminar

Oh' this cabin was so great. I like it. Wish I...

2011-06-06T22:01:06.828-05:00

Oh' this cabin was so great. I like it. Wish I can also have a cabin like this. Anyway, I just wonder if this is for sale. Thanks!

-pia-

Excellent observation Steve. I believe that there...

2011-05-31T14:25:29.251-05:00

Excellent observation Steve. I believe that there are fewer higher priced properties for several reasons. One, people who own luxury properties generally have more resources and are less likely to fall into foreclosure even during a very difficult economic environment. Two, the banks are selling properties at significant discounts so everything sells for less. Three, there are generally approximately 5 times as many properties for sale in Sevier County at any one time under $100,000 as there are over $400,000.

While there have been some very nice foreclosure properties they are much more likely to be less valuable homes.

Jeff isn't it a bit strange that out of approx...

2011-05-31T02:48:38.745-05:00

Jeff isn't it a bit strange that out of approx. 340 foreclosure listings/short sales on your site there are only approx 50 over $300,000? My point is that the properties being defaulted on by the buyers are not in the upper range of quality ones? I don't want to suggest that they are not worthwhile, but many more of the less expensive ones are let go while the more expensive ones do not change hands. Common sense tells me it should be the other way around.

Thanks for the post. . I also have come across a <...

2011-05-17T20:05:15.419-05:00

Thanks for the post. . I also have come across a Lease Option site that fixes credit and provides FHA financing.

Well, that result was really disappointing. I hope...

2011-05-04T02:44:29.109-05:00

Well, that result was really disappointing. I hope it will increase by the following month. Thanks for sharing.

-pia-

Hmmm.. this idea seems so interesting! I think you...

2011-04-23T21:01:18.457-05:00

Hmmm.. this idea seems so interesting! I think you are right, I need to change my lifestyle, and I will start it in my home. Anyway, thanks for sharing this idea. Looking forward for your next post.

-pia-

Thanks Steve!!!

2011-03-14T07:30:53.054-05:00

Thanks Steve!!!

A well deserved award Jeff...

2011-03-14T03:03:51.537-05:00

A well deserved award Jeff...

Jeff, Definitely a sad part of someone's job....

2011-03-12T12:47:29.624-05:00

Jeff,

Definitely a sad part of someone's job.
I guess a sad part of today's economic real estate situation.

Fred Cianelli

Want to get a clear copy of this table. Thanks for...

2011-03-01T23:50:47.075-05:00

Want to get a clear copy of this table. Thanks for giving the pdf.

Deirdre G