Gatlinburg Real Estate Blog

The Bank Blinked! I was whining, rather pitifully really, in a recent post to this Gatlinburg Real Estate Blog about how my largest client wasn't pricing their properties to sell in the very challenging Smoky Mountain real estate market we are currently afflicted with. That changed today as Fannie Mae made some significant price reductions to several of the homes that we have listed for them. The following link will display the listings for all of the foreclosure properties that we currently have listed: Click Here to View Listings Pay particular attention to MLS# 143188 as it really is a bargain. While most foreclosure properties no longer are furnished this log-look vacation rental home located conveniently less than 5 miles from either Pigeon Forge or Gatlinburg is fully (and very attractively!) furnished and also boasts a nice mountain view. There are also some very attractive residences in this list as well and we have more coming. Why did the bank blink? I believe that they ...

The Bank Blinked! I was whining, rather pitifully really, in a recent post to this Gatlinburg Real Estate Blog about how my largest client wasn't pricing their properties to sell in the very challenging Smoky Mountain real estate market we are currently afflicted with. That changed today as Fannie Mae made some significant price reductions to several of the homes that we have listed for them. The following link will display the listings for all of the foreclosure properties that we currently have listed: Click Here to View Listings Pay particular attention to MLS# 143188 as it really is a bargain. While most foreclosure properties no longer are furnished this log-look vacation rental home located conveniently less than 5 miles from either Pigeon Forge or Gatlinburg is fully (and very attractively!) furnished and also boasts a nice mountain view. There are also some very attractive residences in this list as well and we have more coming. Why did the bank blink? I believe that ...

Positive Factors that the Media Seems to Ignore The Reasons for Optimism: During the 2005-2007 national real estate price/value correction: • Median household income grew by 5% • 4M jobs were created • 2M Legal Immigrations (4M IRS I-10 status) • U.S. Population grew by 5M people • House prices fell, so affordability is up • 3M Family formations • Retiring boomers abated sales or purchases Why an up-turn in late 2008/ early 2009 is likely & by 2010 solid: • Pent up demand from the correction will eventually work off the inventory • Population growth by another 5-7 Million people to 315 Million by 2010 • 1 Million + Legal immigrants/year • X Generation 30 Million and Y Generation 70 Million equals 100 Million growing into home buying age; youngest 20+, oldest early 30's. It's estimated that only 5% own a home now By 2010, we will likely be in a balanced market. This is the desired optimum balance. Enough inventory to meet demand; but not at the point where there are not enou...

Positive Factors that the Media Seems to Ignore The Reasons for Optimism: During the 2005-2007 national real estate price/value correction: • Median household income grew by 5% • 4M jobs were created • 2M Legal Immigrations (4M IRS I-10 status) • U.S. Population grew by 5M people • House prices fell, so affordability is up • 3M Family formations • Retiring boomers abated sales or purchases Why an up-turn in late 2008/ early 2009 is likely & by 2010 solid: • Pent up demand from the correction will eventually work off the inventory • Population growth by another 5-7 Million people to 315 Million by 2010 • 1 Million + Legal immigrants/year • X Generation 30 Million and Y Generation 70 Million equals 100 Million growing into home buying age; youngest 20+, oldest early 30's. It's estimated that only 5% own a home now By 2010, we will likely be in a balanced market. This is the desired optimum balance. Enough inventory to meet demand; but not at the point where there are not enou...

Just How Many Overnight Rentals Are There? Quick Quiz for you. No prizes for the correct answer, just bragging rights. In the Gatlinburg, Pigeon Forge, and Sevierville areas how many rental cabins, chalets, & condos are there? A: 4,000 - 6,000 B: 6,000 - 8,000 C: 8,000 - 10,000 D: 10,000+ E: Nobody really knows how many The overnight rental industry in Sevier County began in the early 1960's when the first chalets and log cabins were built for visitors to the relatively newly created Great Smoky Mountain National Park. Chalets and cabins made a lot of sense and any property that had a decent view would rent well at that time. Even some that looked remarkably like army barracks were quite successful. As years went by many more cabins, chalets, and condos were built here in the Gatlinburg, Pigeon Forge, and surrounding communties and the demand for this sort of real estate was always sufficient to absorb the increased supply. Nearly 50 years later we are still building, selling, ...

Just How Many Overnight Rentals Are There? Quick Quiz for you. No prizes for the correct answer, just bragging rights. In the Gatlinburg, Pigeon Forge, and Sevierville areas how many rental cabins, chalets, & condos are there? A: 4,000 - 6,000 B: 6,000 - 8,000 C: 8,000 - 10,000 D: 10,000+ E: Nobody really knows how many The overnight rental industry in Sevier County began in the early 1960's when the first chalets and log cabins were built for visitors to the relatively newly created Great Smoky Mountain National Park. Chalets and cabins made a lot of sense and any property that had a decent view would rent well at that time. Even some that looked remarkably like army barracks were quite successful. As years went by many more cabins, chalets, and condos were built here in the Gatlinburg, Pigeon Forge, and surrounding communties and the demand for this sort of real estate was always sufficient to absorb the increased supply. Nearly 50 years later we are still building, selling, ...