Sherwood Forest cabin is fantastic rental income producer

If you love the mountains, you will absolutely adore the gorgeous, up in the clouds Smoky Mountain View from this top Sherwood Forest rental income producing cabin.

Centrally located and just 5 minutes from the Pigeon Forge Parkway (10 minutes to Gatlinburg), this cabin has the potential to be an amazing rental income producer. Sherwood Forest Resort is one of this area’s most popular resorts because of its convenient location and beautiful views of the mountains!
This 5 bedroom, almost 1,500 square foot rental cabin is fully outfitted with a full sprinkler system and rental income producing cabinother features, including a private, indoor swimming pool, a lofted game room, and theater room. These amenities will keep this cabin relevant as a superb rental income producer for years to come. The cabin is designed with grizzled tongue and groove throughout, walls of glass, and cathedral ceilings to make this a true mountain home. Handsome granite and honey colored cabinets bring home the Smoky Mountain feel. And of course, the high rental income potential makes this a perfect income generating second home or an investment on auto pilot!

Click here to learn more about this rental income producing cabin.

If you’d like to schedule a visit or have other questions about how to make rental income with this property, call me at 865-765-6157 or 865-654-2111.

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3-bedroom Sevierville home is just minutes from all the attractions

Sevierville homeClose enough to get to any of the attractions and activities in the Great Smoky Mountains area but far enough off the beaten path to avoid the tourist traffic during days of high activity, this Sevierville home could be the perfect place to enjoy the best of both worlds.

Sevierville home is conveniently located

Located just minutes from Douglas Lake, downtown Sevierville, and Pigeon Forge, this three-bedroom, two-bathroom home offers main level living with an additional finished walkout basement, 3 fireplaces (2 are made of stone), and other upgrades throughout. The home comes with a detached garage/workshop space as well.
Relax in this luxurious master suite with a sitting room and double French doors that lead to a private screen porch, or cozy up next to the stone
fireplace, The house offers ample storage with its 3 closets. Outside, you will find the perfect space in the 30×40 detached garage/workshop wired for 220, airlines for a compressor, and tall enough for use of a car lift.
The Sevierville home’s other interior features provide a fantastic setting for you to relax and enjoy in. The home’s beautiful kitchen with high end Tessaro counter top also comes equipped with all upgraded whirlpool stainless steel appliances, extra tall cabinetry, and built in pantry for additional storage. The large open living room has vaulted ceilings and features a stone fireplace. The double French doors open to a huge 56-foot screened porch with a metal roof, perfect for listening to the rain. On the main level, you’ll also find the laundry room and office space. Adjoining the master bedroom is a large master bathroom including a jetted tub!
The finished walkout basement is perfect for entertaining. Also downstairs, you’ll find the perfect space for additional built in storage, a fireplace, kitchenette and bar, and another large storage room. The home exterior offers easy outdoor maintenance with its composite front decking and vinyl siding. You’ll also have a place for RV parking with electrical hookups, a private backyard on the more than one-acre lot, and a 2.5 attached garage with attic space.  The house is hooked up to city water and has a septic tank. Underground utilities. Home Warranty included!
Finally, all items in this Sevierville home and workshop are not included but can be purchased.

If you’d like to schedule a time to see this Sevierville home, contact our office at 865-429-2121.

Understanding the appraisal

In this article, I’d like to share with you about one of the most important steps in a home sale where a lender is involed – the appraisal.

If you’ve been following my articles over this past year, then you already know our region – the Great Smoky Mountains, including Pigeon Forge, Gatlinburg, Sevierville, and the surrounding communities – are in a season of very low inventory for property sales. This is especially true of our rental and vacation cabin market. As a result, the values of these properties have increased and the market for vacation and rental cabins has climbed steadily over the last couple of years at a rate that has outpaced lender appraisal values.

Appraising the value of a property can be one of the most challenging, and probably the most stressful, aspect of the process for buyers in a market where appraisal values don’t reflect where the market is at in terms of purchase value. This is mostly because lender appraisers are looking at the value of the property in a different way than everyone else, and with a different purpose. The purpose of a lender appraisal is to determine how much the lender can sell the property for in the event of a foreclosure. So even though the buyer is paying for the appraisal, the appraiser making the determination is actually working for the lender.

Appraisal is an art, not a science

As you know, when a foreclosure is put up for sale by a lender, it’s not priced at the market value. It’s priced below the market value because the financial institution is just trying to recoup as much as they can get for the property. So appraisers have to work from that angle in determining the appraisal value for the lender, and they have to follow specific restrictions. They have to find comparable sold listings within the last 3 to 6 months. If the property is in a subdivision or resort, they must use sold properties from that particular location. Obviously, appraisers can’t go into homes that were sold and take a look around. So the most efficient method for them is to look at closed listings in the association MLS, tax records, and any photos that are included with the closed listing report. It’s a difficult job, especially when you begin to understand some of the problems with doing it this way.

First of all, the reports don’t always accurately reflect the condition of the property. Rarely do tax records identify updates to the interior of the property. Sometimes the square footage is recorded incorrectly. The cabin could be smaller or larger inside than the tax record indicates. Regarding MLS records, the photos may be out of date. That pristine looking cabin exterior in the front photo could have been taken a week after it was built… 10 years ago. Today it might be full of bee holes and in serious need of a new staining. So of course it sold two months ago for $15,000 less than the one you’ve made an offer on where the one you want to buy today has been well taken care of and doesn’t need any major updating.

Appraisers also are required to look at square footage differently than the average buyer or seller. A lot of times, people look at the total square footage to determine how big the cabin is. Even when these numbers are correct in the written record, what the lender’s appraiser is looking for is how much is “above grade” and how much is “below grade.” So maybe you picked out a cabin that has a total of 2,000 square feet, but the appraiser who looks at it notices the cabin square footage is perfectly split between two levels. So, the 1,000 square feet above the mountain’s edge in that hypothetical cabin is considered above grade and worth more than the downstairs – even when that lower level has a window facing the perfect mountain view. Any level of the cabin that is 1 foot below ground is considered basement.

So that’s how the appraiser works through the process. In my next article, I’ll share some ways you can handle an appraisal that might come in below the offer price.

Eight bedroom rental is “Cabin of the Month”

eight bedroom rentalOur cabin feature this month is an eight bedroom rental property located in Wears Valley.

You’ll be “Steppin’ on the Clouds” in this gorgeous eight bedroom rental cabin in Wears Valley. This is a fantastic income-building investment, on track to pass $170,000 in gross rental income this year!

With its absolutely magnificent panoramic 180-degree views of the Great Smoky Mountains, you and your guests will love relaxing in front of one of the best views of the National Park any rental cabin here has to offer. Enjoy the cabin’s large fire pit or hot tub, or make your way over to the nearby resort at “The Preserve” to go swimming in the pool. Best of all, this cabin is just minutes from the National Park!

You’ll find plenty of activities inside this eight bedroom rental as well, ranging from the cabin’s fully outfitted gaming room with air hockey, foosball, and a pool table (not to mention an arcade game system). The cabin also houses a fantastic huge theater room. The cabin’s design includes handsome tongue-and-groove, gleaming large wood beams, walls of glass, and a stone fireplace centerpiece. It’s the perfect place for a relaxing vacation getaway, and can sleep up to 28 guests.

To learn more about this eight bedroom rental cabin, click here.

If you’d like to schedule a visit to see this eight bedroom rental cabin, contact me at 865-765-6157 or my support line at 865-654-2111.

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Private log cabin can be your dream home

If you’re looking for a private log cabin to live in, you won’t want to miss seeing our featured “Home of the Month.”

This beautiful, private log cabin home built in 2000 has everything that you need to relax in total peace and quiet. This four bedroom, six bathroom home measured at more than 6,000 square feet offers plenty of space for the whole family. From soaring cathedral ceilings, stacked stone fireplaces, four huge bedrooms with walk-in closets, a great/recreation room, and the private in-ground pool and sauna, this house has just about everything.private log cabin
Located in the gated Walden Cove subdivision, you are surrounded by nature at every turn of this property’s more than two acre layout! Sit out by the pond and listen to the fountain or by the creek that runs through the property year around!
With so much space throughout this private log cabin, the possibilities are endless! This is a very unique property with no detail spared! Come see this home for yourself and fall in love with your own private Smoky Mountain estate!
To learn more about this property, click here.

To schedule a visit to this private log cabin, contact me at 865-765-6157 or my support line at 865-654-2111.

An update on our changing market

Due to our low number of properties on the market, we have seen prices continually climb on what’s available over the last nine months.

Many of you who follow our monthly newsletter and keep up with the articles we write each month about buying and selling properties in the Great Smoky Mountains region either currently own, or have owned properties, here in the past. Many of you also are in the market for something else to own, either in addition to what you have now or as an “upgrade” to your current vacation/rental cabin. And you’ve probably been keeping up with our articles about how the market has changed. It’s a sellers’ market – not just here, but in a lot of places around the country. The number of homes for sale is down from where it was a year or two ago. So when something new comes on the market, it really doesn’t stick around that long.

It’s true. Many listings in our market have offers within a matter of days if they are priced correctly (especially when they are priced a little under) current market values. My agents and I have had listings that were “under contract” within as few as three days. We frequently tell clients at showings, “This won’t be on the market next week.” It’s just where our market is right now.

So what can you do? Well, the first thing to keep in mind is that the deals of changing marketlast year are gone. If you do stumble upon something that’s brand new to the market and it is priced low, the offers that come in are going to be above asking price. The winning buyer won’t be placing any sort of contingencies on the offer, and you can forget about negotiating back and forth through a series of offers and counter offers. While you’re trying to get a discount on the price, someone else is coming in with a full price – or above asking price – offer that’s going to win. It’s a tough place for a lot of buyers to be, especially ones who have bought in our market in the last few years after the downturn, but it’s important to know that going into any offer you want to submit. Those days are over, at least for the time being.

Secondly, as prices are going up on properties, rental rates are rising along with it at many of the rental companies in our area. Large cabins are not as readily available for purchase as they once were, and so smaller cabins have quickly become the focus. We’ve also seen a significant reduction in sales of cabins in our more popular resorts, such as Sherwood Forest and Legacy Mountain. Where once there were about a dozen or so cabins for sale in each those areas at any given time a year or two ago, today there is half or even less than that.  But the good news is that there are still strong investment properties to purchase that will cash flow positive every month.  We are also building again so new construction may be a really good option for you.  This market is not for the timid.

This year, about a third of the properties I’ve listed have sold at or above asking price. We’ve had some where we ended up with multiple offers, even in places that haven’t traditionally been high demand areas in the past.

When national investors have analyzed the entire United States, Sevier County comes up in the top ten places to invest for overnight rentals. It’s also one of the most beautiful and inexpensive places to retire.  So be a good student of what is available and don’t be shy about an offer on a good property. If you can accept that, you will have a solid investment for years to come, whether it is your personal residence or an overnight cabin or chalet.

In the meantime, if you’d like to know more about the current market and where we are probably headed – whether you are buying or selling – my staff and I are always here to answer questions.

4-bedroom Sevierville home offers serene views!

4-bedroom homeThe gorgeous views on the over sized lot of this 4-bedroom Sevierville home provides the perfect backdrop for entertaining family, friends, neighbors, and other guests.

Our featured “House of the Month” for June, this 4,000 square foot 4-bedroom home also includes 3.5 bathrooms, a 2 car attached garage and an additional detached garage for one more vehicle. Or you can make it the perfect place for extra storage! With nearly two acres of ground, you can enjoy both the front and back yard. Each offers ample outdoor space for entertaining. Out front you can relax on your covered attached gazebo or front porch swing. The back yard offers you a wonderful concrete patio and latticed deck perfect for hosting a cookout!
With the master suite on main floor you will love the open concept floor plan and upscale custom finishes throughout! The designer kitchen with granite counter tops, an eat in kitchen, formal dinning area, large great room with immense bay windows for natural light, gas fireplace and large front office accompanied by high ceilings and large windows are a sight to behold. Upstairs you will find another master suite with its own walk-in closet and jetted tub, two more large bedrooms, another over sized great room/media room, and your very own personal gym with mat flooring!
If you’d like to visit this 4-bedroom home, call me at 865-765-6157 or my support line at 865-654-2111.

You can learn more about this 4-bedroom Sevierville home here.

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This 1-bedroom cabin is March feature

For our March “Cabin of the Month,” we’ve chosen this 1-bedroom cabin nestled in Parkside Village.

Taken care of by a great owner, this 1-bedroom cabin offers the perfect opportunity to get away from it all and just relax in the quiet of the woods. Located in the heart of Wears Valley, this is your1-bedroom cabin chance to own your very own quaint one bedroom and one bath. Make it your second home or continue to enjoy it as an income producing rental property!
The great open floor plan flows well and is perfect for you and your closest family. Adorned with small handcrafted details that really make this cabin stand out from the rest. Step out onto your back deck that is wonderful for grilling or enjoying a cup of coffee on a crisp Tennessee spring morning.  And of course, it comes equipped with a covered hot tub so that you can enjoy a relaxing soak, rain or shine!

To learn more about this 1-bedroom cabin, click here.

If you would like to schedule a visit to see this 1-bedroom cabin, contact me at 865-765-6157 or call my support line at 865-654-2111.

Cedar Falls log home is our ‘House of the Month’

With a focus on main floor living, this beautiful Cedar Falls log home has a open floor plan perfect for family and guests.

FroCedar Falls log homem its huge kitchen with stunning granite counter tops and gleaming marble floors accented by stainless steel appliances and custom maple cabinets to the living and dining areas adorned with sturdy timber rafters and gorgeous tongue and groove walls, you will love this Cedar Falls log home.
Totaling nearly 3,300 square feet, this 3-bedroom, 3.5-bath log home comes complete with a 15-foot long wet bar including a built-in wine cooler and plenty of storage for those party essentials. It’s the perfect addition for hosting guests.
Next, you’ll also find located on the main floor the enormous master suite with two huge walk-in closets, each offering its own built-in shelving. Along with the master suite, the main floor is set up with a second full bath and the laundry room. Just off the master suite is a bonus space that can serve for whatever function you need, be it office, dressing room, or just another bedroom space. That room opens to the screened porch where you can sit and enjoy the beautiful view of the outdoors.
Downstairs, you’ll find more bedroom space and other amenities. The lower level has its own group of bedrooms and play/work space, another full bath, media room and a mud room.
The beauty of this home extends to the outdoor surroundings as well with its beautifully landscaped patio and wooded surroundings.
This Cedar Falls log home can serve either as a rental, vacation home, or permanent resident. Cedar Falls is a beautiful community with a pool, playground, fishing pond, and a wedding chapel and pavilion by the creek.

To learn more about this Cedar Falls log home, click here.

If you’d like to schedule a visit to this Cedar Falls log home, call me at 865-765-6157 or my support line at 865-654-2111.