Gatlinburg Real Estate Blog

When advising Smoky Mountain real estate home buyers and sellers regarding a contemplated purchase, we always look at comps to determine what a fair price is for a property that we are helping them with. The best comps are recent sales that have as many as possible characteristics in common with the subject property. Good comparable sales should, relative to the subject: be in fairly close proximity. have been sold within the last 6 months. be of a similar square footage. have a similar number of bedrooms and baths. be of a similar age construction. have as similar a design as possible. All of these potential similarities and more are desirable to make the comps as meaningful as possible. Of course, there are always condition and quality of construction adjustments but the more like the subject, the more meaningful the comp. When considering the purchase (or sale) of a condo, the comps aren't across town, they are likely to be across the hallway. Not only are they in very close pro...

When advising Smoky Mountain real estate home buyers and sellers regarding a contemplated purchase, we always look at comps to determine what a fair price is for a property that we are helping them with. The best comps are recent sales that have as many as possible characteristics in common with the subject property. Good comparable sales should, relative to the subject: be in fairly close proximity. have been sold within the last 6 months. be of a similar square footage. have a similar number of bedrooms and baths. be of a similar age construction. have as similar a design as possible. All of these potential similarities and more are desirable to make the comps as meaningful as possible. Of course, there are always condition and quality of construction adjustments but the more like the subject, the more meaningful the comp. When considering the purchase (or sale) of a condo, the comps aren't across town, they are likely to be across the hallway. Not only are they in...

One of the Sevierville foreclosures that we were assigned last week is a very modest home near the Sevierville Post Office just off of Dolly Parton Parkway (yes, Sevierville is the original home place for Dolly!).  When I visited the house to take pictures and begin the process of filing a Broker's Price Opinion report, I was quite surprised to see that this home had been posted and declared abandoned nearly a year ago.  Banks hire property preservation companies to inspect homes that have severely past due mortgages in order to protect the property.  If a borrower isn't paying the mortgage there's a good chance that they have moved out and nobody is maintaining the home.  This is especially important during the cold of winter when unheated homes can result in frozen plumbing and much unnecessary damage. What makes this particular situation worthy of note is that the property was posted by the property preservation so long ago.  I don't really understand why ba...

One of the Sevierville foreclosures that we were assigned last week is a very modest home near the Sevierville Post Office just off of Dolly Parton Parkway (yes, Sevierville is the original home place for Dolly!).  When I visited the house to take pictures and begin the process of filing a Broker's Price Opinion report, I was quite surprised to see that this home had been posted and declared abandoned nearly a year ago.  Banks hire property preservation companies to inspect homes that have severely past due mortgages in order to protect the property.  If a borrower isn't paying the mortgage there's a good chance that they have moved out and nobody is maintaining the home.  This is especially important during the cold of winter when unheated homes can result in frozen plumbing and much unnecessary damage. What makes this particular situation worthy of note is that the property was posted by the property preservation so long ago.  I don't really understand why ...