Gatlinburg Real Estate Blog

Gatlinburg foreclosure properties come in at least 3 flavors: Good, Bad, and Ugly.  If you think about it this is probably true for all real estate but it seems to be particularly apt when considering foreclosure real estate.  Today was a great example of what I mean.  We were assigned a new foreclosure property (nothing new here, we currently manage around 90 properties, the majority of which are Smoky Mountain foreclosures) in the Morristown area (where we have several other listings already).  On my way to the new property I went through some very attractive areas including this spectacular gated family compound: As I drove further toward the property that we had been assigned, I was getting ever closer to Cherokee Lake and visions of spectacular lake front property danced in my head.  Unfortunately, as I approached the address the nature of the neighborhood suddenly changed for the worse and when I finally arrived I found this: Not a gated family compou...

Gatlinburg foreclosure properties come in at least 3 flavors: Good, Bad, and Ugly.  If you think about it this is probably true for all real estate but it seems to be particularly apt when considering foreclosure real estate.  Today was a great example of what I mean.  We were assigned a new foreclosure property (nothing new here, we currently manage around 90 properties, the majority of which are Smoky Mountain foreclosures) in the Morristown area (where we have several other listings already).  On my way to the new property I went through some very attractive areas including this spectacular gated family compound: As I drove further toward the property that we had been assigned, I was getting ever closer to Cherokee Lake and visions of spectacular lake front property danced in my head.  Unfortunately, as I approached the address the nature of the neighborhood suddenly changed for the worse and when I finally arrived I found this: Not a gated family comp...

Under a directive from Fannie Mae (and possibly Freddie Mac), no evictions or trustee's sales were to occur during the period from just before Christmas to after New Year's.  In fact, according to the Sevier County tax records, the last Fannie Mae acquisition of 2009 was completed on 12/17/2009.  Although the mortgage bankers were possibly showing a little humanity I suspect that what they more likely were doing was avoiding the potential bad press of evicting a family on Christmas Eve.  Accordingly, we have not seen many new foreclosure assignments during the last couple of weeks and the time my staff now has on their hands will be used to prepare for what is probably forthcoming.  With a backload of loan foreclosures that are likely headed our way, we can be sure that next week will be hectic.  While we wait for the next wave, I thought it would be good to give you a preview of some of the most attractive Smoky Mountain properties that are heade...

Under a directive from Fannie Mae (and possibly Freddie Mac), no evictions or trustee's sales were to occur during the period from just before Christmas to after New Year's.  In fact, according to the Sevier County tax records, the last Fannie Mae acquisition of 2009 was completed on 12/17/2009.  Although the mortgage bankers were possibly showing a little humanity I suspect that what they more likely were doing was avoiding the potential bad press of evicting a family on Christmas Eve.  Accordingly, we have not seen many new foreclosure assignments during the last couple of weeks and the time my staff now has on their hands will be used to prepare for what is probably forthcoming.  With a backload of loan foreclosures that are likely headed our way, we can be sure that next week will be hectic.  While we wait for the next wave, I thought it would be good to give you a preview of some of the most attractive Smoky Mountain properties that are heade...

Although our Gatlinburg area real estate market is improving, there are still certain sectors of the market that are absolutely miserable. Large residences and condos have some of the worst stats according to the Great Smoky Mountain Association of Realtors MLS database. There have only been 80 condo sales in the last 12 months but there are 399 units currently listed for sale. This calculates to a 4.9875 YEAR supply of unsold condos based on the pace of sales during the last year. In case this weren't tough enough, there are new condominium developments coming on line. Additionally, there are also a good number of foreclosures coming onto the market (I myself have two new condo foreclosure units that will be priced within the next 30 days or so). Here is my analysis of our Smoky Mountain real estate market by segments: To get a clearer copy (if you really want to see it??) of this table please click here . If you are attempting to sell real estate in Sevier County it is a challe...

Although our Gatlinburg area real estate market is improving, there are still certain sectors of the market that are absolutely miserable. Large residences and condos have some of the worst stats according to the Great Smoky Mountain Association of Realtors MLS database. There have only been 80 condo sales in the last 12 months but there are 399 units currently listed for sale. This calculates to a 4.9875 YEAR supply of unsold condos based on the pace of sales during the last year. In case this weren't tough enough, there are new condominium developments coming on line. Additionally, there are also a good number of foreclosures coming onto the market (I myself have two new condo foreclosure units that will be priced within the next 30 days or so). Here is my analysis of our Smoky Mountain real estate market by segments: To get a clearer copy (if you really want to see it??) of this table please click here . If you are attempting to sell real estate in Sevier County it is a challe...