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...

No, I'm not talking about the weather, it has finally begun to cool a little .  I'm talking about the residential rental market here in Sevier County.  With fewer people able to qualify for mortgage loans and sadly others who have been foreclosed upon, the rental market is actually going well.  In fact, I have had a hard time locating quality homes for people looking to rent - most reasonably priced attractive homes are already rented.  What this means is that rents will start to go up and that is definitely good news for property values.  All of the homes that I personally own are rented and there are fewer residential rental properties being advertised online.  Even the number of "For Rent" signs that I see as I travel around the county is down.  If you are looking to purchase single family residential investment property now is the time - From Gatlinburg to Pigeon Forge and Sevierville starter home / rental property prices are already starting to g...

No, I'm not talking about the weather, it has finally begun to cool a little .  I'm talking about the residential rental market here in Sevier County.  With fewer people able to qualify for mortgage loans and sadly others who have been foreclosed upon, the rental market is actually going well.  In fact, I have had a hard time locating quality homes for people looking to rent - most reasonably priced attractive homes are already rented.  What this means is that rents will start to go up and that is definitely good news for property values.  All of the homes that I personally own are rented and there are fewer residential rental properties being advertised online.  Even the number of "For Rent" signs that I see as I travel around the county is down.  If you are looking to purchase single family residential investment property now is the time - From Gatlinburg to Pigeon Forge and Sevierville starter home / rental property prices are already starting to g...

I often tell people that due to the nature of our Gatlinburg real estate market, it isn't as much fun as it used to be.  In an up market, everyone is happier and the job is much more pleasant.  In our current market environment, people are often caught in a downward spiral where one bad event leads to another.  With many construction related industries shedding jobs there are a lot of skilled and unskilled laborers who are out of work.  If you can't work, you can't pay the mortgage and that of course leads to foreclosure.  When we see vacation homes in foreclosure, it is still saddening but not to the extent that it is when the home in question is a primary residence.  Nothing is sadder than when children are involved as was the case earlier this week. When we post a house with a foreclosure notice on behalf of the foreclosing entity, they often require photographic evidence of the fact that the former owner has been notified.  For this reason, I alway...

I often tell people that due to the nature of our Gatlinburg real estate market, it isn't as much fun as it used to be.  In an up market, everyone is happier and the job is much more pleasant.  In our current market environment, people are often caught in a downward spiral where one bad event leads to another.  With many construction related industries shedding jobs there are a lot of skilled and unskilled laborers who are out of work.  If you can't work, you can't pay the mortgage and that of course leads to foreclosure.  When we see vacation homes in foreclosure, it is still saddening but not to the extent that it is when the home in question is a primary residence.  Nothing is sadder than when children are involved as was the case earlier this week. When we post a house with a foreclosure notice on behalf of the foreclosing entity, they often require photographic evidence of the fact that the former owner has been notified.  For this reason, I alw...