Gatlinburg Real Estate Blog

Yesterday, I was asked by a reader of this Gatlinburg real estate blog how many of our Gatlinburg area's November residential sales were foreclosures or short sales. The answer is far, far too many, unfortunately. Out of 158 residential sales (the most in any single month since 2007!!) that were completed during the month by the members of our local board, the Great Smoky Mountain Association of Realtors, 60 were marked as foreclosures while another 15 sales were flagged as short sales. On the other hand, we have to get these distressed properties sold before prices can make any real positive headway. Because banks are still adding a good number of new foreclosures to the market (we have been assigned several new properties this month), the supply tends to remain fairly constant. In fact, we have some very attractive properties coming to market soon, so watch this Gatlinburg real estate blog and our GatlinburgHomes.com website for all of the area's newest listings as they bec...

Yesterday, I was asked by a reader of this Gatlinburg real estate blog how many of our Gatlinburg area's November residential sales were foreclosures or short sales. The answer is far, far too many, unfortunately. Out of 158 residential sales (the most in any single month since 2007!!) that were completed during the month by the members of our local board, the Great Smoky Mountain Association of Realtors, 60 were marked as foreclosures while another 15 sales were flagged as short sales. On the other hand, we have to get these distressed properties sold before prices can make any real positive headway. Because banks are still adding a good number of new foreclosures to the market (we have been assigned several new properties this month), the supply tends to remain fairly constant. In fact, we have some very attractive properties coming to market soon, so watch this Gatlinburg real estate blog and our GatlinburgHomes.com website for all of the area's newest listings as they b...

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 ...

Good Foreclosure, Bad Foreclosure? Sort of like the old saying "Good cop, bad cop" our Gatlinburg area real estate market has both well behaving and misbehaving foreclosure properties. Sterling examples of this dichotomy were produced last week as we had both extremes present in new properties that we were assigned. Although they haven't been priced yet I thought I would write just a bit about these two Smoky Mountain properties, which I will call the "Beauty" and the "Beast". The "Beauty" is a 3 bedroom, 3 bath true log structure with 3 levels of elegant construction and quality finishes such as granite counter tops and other upgrades. Located between Pigeon Forge and Gatlinburg it boasts a very nice view of the National Park and Mt. LeConte. The house is NOT set on a postage stamp sized lot (nearly 1/2 an acre) and has excellent surroundings of similar upscale homes. Originally selling for over $400,000, this approximately 2200 square foo...

Good Foreclosure, Bad Foreclosure? Sort of like the old saying "Good cop, bad cop" our Gatlinburg area real estate market has both well behaving and misbehaving foreclosure properties. Sterling examples of this dichotomy were produced last week as we had both extremes present in new properties that we were assigned. Although they haven't been priced yet I thought I would write just a bit about these two Smoky Mountain properties, which I will call the "Beauty" and the "Beast". The "Beauty" is a 3 bedroom, 3 bath true log structure with 3 levels of elegant construction and quality finishes such as granite counter tops and other upgrades. Located between Pigeon Forge and Gatlinburg it boasts a very nice view of the National Park and Mt. LeConte. The house is NOT set on a postage stamp sized lot (nearly 1/2 an acre) and has excellent surroundings of similar upscale homes. Originally selling for over $400,000, this approximately 2200 square foo...