2016 Sales Rocket Past 2015 Tally Not Counting December!

The last two weeks have been nothing short of terrible due to the catastrophic fires are community has suffered. There really hasn't been much good news of any type and people are really hurting. In an attempt to try and return to normal, I am finally getting around to posting monthly sales tallies to this blog. The results for November are superb and we have now surpassed 2015's total, which was itself a near record year!
We still won't catch 2006 or 2007, but the trend continues to be up, even if sales are off in December.

Comments

Unknown said…
Jeff, Curious as to your opinion on how you think real estate sales will do next year? With some 2000 homes burnt down, Cannot imagine Gatlinburg area to supply enough builders to be able to rebuild those quickly. How do you see the existing home market will do, will folks seek exiting homes when insurance proceeds come in? Will 2nd home buyers stay away from Gatlinburg due to fire risk and eventual increased insurance premiums?
I have been considering the same factors. Sort of like the stages of grief, where the first stage is shock and then denial and so on I believe that we will move forward in stages. I do believe that eliminating over 2000 homes has to tighten supply but I also know that sadly many vacations have been cancelled, including some very large groups. The city needs to act diligently to require owners, who received an insurance settlement but choose not to rebuild, to clean up their lot. Otherwise the abandoned carcasses will litter the landscape for many years. Gatlinburg will recover, but the timing and details are still very much up in the air.
jb25 said…
Some local homeowners will rebuild. Others, in particular out of state owners and the elderly may not. Those living too far away to and in many cases inexperienced in dealing with contractors may just take the insurance settlement and sell the lot. Likewise older residents now presented with an opportunity to cash in and relocate to a milder climate. Think how many older properties were lost both small motels and multi-family residences. Those with contacts and cash in hand will be buying up all the choice lots.
Bugged to Death said…
I agree totally; My home was on the very edge of the burn zone in North Chalet;it survived with just smoke and wind damage; around my home in a small area there are at least 19 foundations with chimneys standing; looks terrible; first priority is to either build or clean off your foundation. Though I am incline to think a good many foundations will be left and Gatlinburg needs to apply for funds from the Government to remove these blights; just like they do in destitute city's like Gary Indiana and Detroit.
Anonymous said…
Our home was spared as well in Chalet Village North. We consider it nothing short of a miracle from God that our cabin is standing! The rest of the street was destroyed. It may take a couple years to rebuild and restore the area. But remember, Gatlinburg is a vacation destination. I would expect that those who were insured will rebuild. The ones who chose to not insure their homes are the ones to be concerned with. The City will need to be firm with debris removal issues to ensure the property values continue to hold up. Gatlinburg is a Gateway city to the National Park and will always be a desirable area. We will continue to vacation there and support the economy. Not sure how our HOA will fare people with empty lots don't use pools, tennis courts, and clubhouses! If we were the ones facing a burned out property, we would rebuild in a heartbeat. We love being in the mountains and hope that our mama bear and her 3 cubs that visited us last month will have survived the fire of the century.
Talking with lots of people, seems like the majority are planning on rebuilding. I have however talked to one elderly couple who lost two Gatlinburg vacation homes in the wildfires. Very sadly, they unintentionally allowed one of their insurance policies to lapse earlier in 2016 which left that property uninsured. The other was fully covered but they have said that they will NOT rebuild, validating your point about older owners. They do plan to sell the lots to people who are looking to build, and one of these has a phenomenal National Park view. Probably many more older folks who will be looking to sell.
Totally agree that Gatlinburg must show some resolve and compel owners to remove debris within a reasonable time, even if they don't plan on rebuilding. Otherwise we could have a 30 year blight on our community. Meetings coming up after the first of the year which will hopefully yield more information regarding the city's plans...
I share your love of the mountains and your concern about HOA organizations. Very hard to force a burn lot owner to pay for amenities and the HOAs will suffer without that revenue that they counted on when budgets were calculated. Some HOAs have greatly reduced fees for undeveloped lots which may come back to haunt them...
Anonymous said…
A solution to the debris issue would be to fine or lien lot owners who do not clean up their property as they should after a certain period in time. But that is almost cruel to think of assessing someone who has had their home burned down. The additional cost of rebuilding could make it impossible for some. It is good to hear that there are wonderful people who are contributing their time and money to the cause and I hope that it will help the full time residents rebuild their homes each and everyone as they need. We were there last week and it was surreal to see the beautiful cabins gone and just a parking pad or foundation was all that remained. Beyond that though was Gods Glory and Splendor as we viewed those Smokey Mountains. Construction crews have already begun the rebuild and it will be a renewed sector putting the crews to work! We have been back twice already since the fire. We ate at the Old Mill, Cracker Barrel, and other spots we love. We went to the craft community, The Island, Super Walmart, and a few other shops - leaving that "green" along the way. If we all pitch in, the area will be back to "normal" soon with a few scars that we will never ever forget. We will never ever forget those whos lives were lost, those who were hurt and those who worked so diligently to help us here.
So very thankful for your continued support of our community!! Gatlinburg WILL rebuild but it will take time, hopefully not too long. The community has already cleared many burn sites, with truckload after truckload of material being hauled away. Reconstruction will follow very soon and Gatlinburg can end up stronger and better in the very long run. In the interim, it will continue to be very challenging for those of us who live and work here...
Unknown said…
Jeff thank you for your blog. It seems as if the City of Gatlinburg is putting in some provisions to fast-track rebuilding efforts. I hope and pray that homeowners will go back with quality homes.

We had a cabin on Roaring Fork creek within walking distance to downtown. We are taking this opportunity to build a much nicer property than that which burned, even though insurance certainly doesn't cover all of that - not even close.

We are going back with a true log cabin with high end finishes and furnishings.

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