Gatlinburg Real Estate Blog

Although the quantity of Smoky Mountain foreclosures has fallen significantly, there are still some new foreclosure properties coming on the market in Gatlinburg, Pigeon Forge, Sevierville, and the rest of the Sevier County area. For buyers, this is a good thing as it provides properties that can be purchased very affordably, but for sellers it is quite the challenge. This is particularly true if the new foreclosure is just next door as it is for one non-foreclosure home I hope to sell soon. Why would anyone consider a higher priced non-foreclosure home if a very similar foreclosure property just down the street is offered for sale at a much lower price? There are several good reasons: Foreclosure properties almost always have some deferred maintenance that buyers must contend with, while non-foreclosure properties are usually maintained better. Sometimes the deferred maintenance causes really significant expenses that cannot be foreseen by potential buyers. Foreclosures rarely have a ...

Although the quantity of Smoky Mountain foreclosures has fallen significantly, there are still some new foreclosure properties coming on the market in Gatlinburg, Pigeon Forge, Sevierville, and the rest of the Sevier County area. For buyers, this is a good thing as it provides properties that can be purchased very affordably, but for sellers it is quite the challenge. This is particularly true if the new foreclosure is just next door as it is for one non-foreclosure home I hope to sell soon. Why would anyone consider a higher priced non-foreclosure home if a very similar foreclosure property just down the street is offered for sale at a much lower price? There are several good reasons: Foreclosure properties almost always have some deferred maintenance that buyers must contend with, while non-foreclosure properties are usually maintained better. Sometimes the deferred maintenance causes really significant expenses that cannot be foreseen by potential buyers. Foreclosures rarely hav...