2-bedroom cabin at Covered Bridge can be fantastic rental opportunity

This extremely well maintained two bedroom and two bath cabin in Covered Bridge Resort is our featured “Cabin of the Month” for September. Currently used strictly as a second home, this cabin has never been on a rental program! It is in perfect condition and is located just minutes from all of the attractions of Pigeon Forge.

The great room welcomes you with a beautiful river rock fireplace and open floor plan. The kitchen is found just off of the living area. Including two king size bedrooms, one on the main and the other on the second floor, this more than 1,100 foot cabin is a must-see! Come make this prestigious cabin your second home or rental destination!

To schedule a visit to see this cabin, call us at 865-654-2111.

To learn more about this listing, tap or click here.

Large acreage site could be perfect development opportunity!

This incredible large tract of property located adjacent to The Great Smoky Mountains National Park could be the perfect development opportunity, if you’re looking for a unique investment. The tract is very close to the Greenbrier entrance of the Great Smoky Mountain National Park, Gatlinburg, the Rocky Top Sports Center and other major attractions in our region. This nearly 38 acre tract with incredible Mountain views, contains approximately eight acres of pasture, a mountain stream, and some basic road ways already cut in. This tract is ideal for private development, potential cabin development , campground site, equestrian activities. Contact us by phone or text at 865-765-6157, 865-680-5850, or 865-654-2111 to request to see conceptual plans for other developmental ideas. These engineered conceptual drawings offer insight for possible development.

To learn more about this property, tap or click here.

New construction: picking the right lender

Last month, we talked a bit about the re-emergence of building in the Great Smoky Mountains. With the market on the upswing due to so few cabins on the market and a huge demand among buyers, the prices on existing property have steadily climbed to a point not seen since before the downturn. As those prices began to reach the cost of building, new construction is beginning to appeal to buyers.

If you are excited about the possibility of owning your own vacation or rental cabin but can’t find exactly what you are looking for on the market and have the patience to wait out the building process, you may be at a place where building your own cabin is your best option!

As you work out in writing exactly what you are looking for in a cabin and picked the perfect builder to construct your dream cabin on the perfect lot for where you want the cabin to be located,  you’ll also need to be interviewing lenders about their different types of loans. One of the most important things you will need to know is how the project is going to be financed.

If you are very fortunate, you may come across a development project with the design you’re looking for where the builder is being financed by the lender directly. So then you would just buy the property as you would any existing home or cabin once it’s finished. The floor plans are pre-designed and while you may have some say in changes, most of the time it will be built according to the approved specifications.

Another great way to manage the financing of the project is to find the lot that meets all the goals of your floor plans and purchase it ahead of starting the project. If you have the cash to purchase the lot or if you can afford to wait until the lot is paid off, it’s possible the lot can be used as the down payment for the construction project. You just need the design to appraise for enough that the lot will cover the down payment. This is where the expertise of a real estate agent can be invaluable.

Different lenders offer different types of loans, so it’s important to know what your options are with the lender you pick to fund your project. Some will offer construction loans so you may have two closings – one for the construction project and a second for the conversion of the loan into a traditional mortgage. Others will offer a one-time closing.

During the building process, the lender will issue draws. These are payments made to the builder for materials, work performed, etc. As the buyer, you are generally only responsible for the amount borrowed on with each draw and payments you make are interest-only for the duration of the building process. So you can know fairly well ahead of time how much you can expect your payments to be as construction progresses.

If building your own cabin is the path you are considering, we can help you. We have worked with a number of builders on dozens of construction projects and would be glad to share our experience and expertise with you.

New cabin construction designed with indoor pool

Admire the breathtaking long range views from this 6 bedroom, 6 bathroom, 2 and a half bath cabin! Located just 10 minutes from the Pigeon Forge Parkway, this is your Smoky Mountains investment waiting to happen. With a projected yearly gross income ranging between $120,000 to $150,000, your second home can make you a second income! This cabin offers plenty of potential with its spacious more than 4,400 square feet, its sparkling granite counters, hardy wood-look floors, handsome tongue and groove walls, an outfitted game room, an outfitted theater room, and private indoor pool – the latest attraction for guests to the Smokies looking to rent a vacation cabin. vacation cabinOpen floor plan, high ceilings, and expansive decks are perfect for entertaining guests. Best of all, its just a short drive to the attractions. This is just one of our latest construction projects taking place in Wears Valley, so the pictures are of similar finished 6 bedroom cabins within the developing Smoky Mountain Ridge resort (actual floor plan may vary based on how the lot sets).

You can view more details about this cabin here.

To learn more about this and our other cabin construction projects, call me at 865-765-6157 or my support line at 865-654-2111.

Deciding When to Build

For the last few months we’ve been sharing with you about how building is making a comeback due to the lack of properties for sale in our market. More and more lenders are offering loans for building. Lots are in abundance even when residential homes and cabins are the opposite. Contractors are taking on building projects.

rebuilding after wildfireFor most people, building is an option when you either can’t find exactly what you want or your dream home/cabin is in the wrong location for where you want to be. Because buying is still a little cheaper – and easier – I recommend trying to find something existing that checks your boxes first, but if what you’re looking for just isn’t out there, then that’s when you should consider building.

So what’s the first step in building? Well, before anything else you will want to have a list of “non-negotiables,” items that are must-haves for your home or cabin. Do you want an open floor plan? How many bedrooms? What square footage is acceptable for your new home? Do you need the cabin you’re building to cash flow as an investment, or is this going to be more of a vacation property? Once you have this list nailed down, then you can start looking for the lot where you want it to be built. It’ll help you in the long run if you know before you buy the lot that it can’t be permitted for a 3-bedroom because the field line is too small if you need your home to have 3 bedrooms. It’s going to cost a lot more if you go about it the other way around.

Next, you will need to interview builders as part of the bid process for the construction project. While most people prefer to go it alone, this is one area where working with a real estate agent who has a firm understanding of construction can really be helpful for you. A knowledgeable real estate agent can help pair you with the right builder for the project. If you found the perfect floor plan in a different location, maybe the builder will be available or at least be able to provide the building plans for your home. Your agent can also provide you the names of lenders who offer construction loans. My team and I know a handful of lenders we work well with and are positive about when it comes to new build projects. And we know great builders who do fantastic work, too.

The other area where working with a real estate agent can be beneficial is in helping you save money on the project. If you design it correctly, it’s possible to make the project appraise for a value that’s far higher than the cost of building it will be. This could be a win for you if you are able to use the lot you are purchasing as part of the deal as a down payment on the project.

In next month’s article, I will walk you through the process of how lenders typically set up the loan and offer some tips on things you can do to manage the financing for the project as your home or cabin is being built.

Shagbark Resort cabin can be the perfect vacation home

Our featured “Cabin of the Month” for July is a privately located resort cabin offering Smoky Mountain living at its finest! This 3-bedroom, 3-bath vacation home sits atop the mountains in the gated Shagbark Community. With its round-the-clock 24/7 gate, the on-duty guard watches over the only entrance to the community.

Handsome tongue and groove as well as cathedral ceilings designs adorn the interior of this cabin. Its spacious open floor plan offers extra space for all the family and is great for entertaining large groups. Outside, the cabin’s large wrap around decks with covered portions are perfect for relaxing.

Privately located within a gorgeous woods setting, Shagbark Resort is just 12 minutes away from the Pigeon Forge Parkway and 12 minutes from Wears Valley and the back entrance to the Smoky Mountains National Park. There is ample opportunity to use the back roads to avoid traffic and make your way around Sevier County to just about anywhere you want to go!

Click here to learn more about this vacation cabin. To schedule a visit to see the cabin, you may text or call me at 865-765-6157 or my support line at 865-654-2111.

Quiet Sevierville home is close to all the attractions

For our “House of the Month,” we’ve chosen this newer home located at Landmark Point Garden Villas.

This well maintained Sevierville home could be the perfect open concept floor plan you’re looking to move into! All on one level, this three bedroom, two bathroom home also comes with an enclosed sun room where you can enjoy the comforting natural light and the nature around you! Vaulted ceilings in your spacious living area with a tile fireplace center your great room. The large kitchen comes with stainless appliances, granite counter tops, stunning cherry colored cabinets and room for dining. The home’s private master suite has its own walk-in closet, over-sized whirlpool, and glass door shower. Also, the home’s two-car garage provides the perfect space for parking.

In a developing yet relatively quiet subdivision, this Sevierville home provides low maintenance easy living while still just minutes from shopping, LeConte Medical, Dollywood, and the attractions of Pigeon Forge!

Click here for more information about this home. If you’d like to schedule a visit, call or text me at 865-765-6157 or my support line at 865-654-2111.

Buying in a sellers’ market

sellers marketAround this time last summer, I shared with you that we are living in a sellers’ market in the Great Smoky Mountains. One year later, that fact hasn’t changed. The number of properties available – particularly vacation rental cabins, since that is our primary residential market in this area – has dropped below where it was last year while the number of buyers looking hasn’t. In fact, the interest among potential buyers has continued to increase, which has in turn continued to drive up the prices of available homes. This is great news for your if you own a cabin and are considering selling it, but it has proven to be somewhat frustrating for buyers who find the prices to be a little more than they were planning or who don’t want to make a seemingly impulsive decision and end up either missing out on the cabin they love or just giving up on the idea completely.

However, if you’re in love with the dream of owning a vacation cabin in the Smokies, there’s hope. There are things you can do and ways you can approach the opportunity, even in this market. The three things you want to focus on is making the successful bid, making it make sense with your investment plans, and making sure the decision to make an offer doesn’t feel impulsive (if like many of us that is an area you struggle with).

Study the market ahead of time. We frequently send out listings via email to people based on criteria they provide us weeks, even months, ahead of their plan to visit the area and pick a cabin. Of course, just about everything you look at now will be under contract and/or sold before your trip in the fall. However, the more you know about what’s on the market and what the prices look like before you make the trip, the easier it will be for you to spot exactly what you want when you go inside the home or cabin that will be for sale when you get here. And it won’t feel quite so impulsive when it matches something else you saw weeks ago that you really loved online.

Ask your agent to preview the home. When you live in another state, making a day’s drive on a Tuesday afternoon to see a cabin Wednesday morning before driving home in the afternoon so you can be back at work on Thursday isn’t always the most practical. If you don’t have a way to view the cabin before Friday afternoon, it might be under contract by then. So one of the services we offer our clients who we know are serious about buying a property is to go and check it out for them. We know what they are looking for in a home or cabin and can usually send photos or videos, or give a call while we are at the property walking around. Then, you can make an informed decision about the specific property and if you like it based on your agent’s feedback, be able to go ahead and make an offer following the tips I suggested last year.

Consider building your own home. The other good news is that if you can’t find exactly what you want, or you have time to plan out your vision for owning property in the Smokies is that building is making a comeback because of the shortage of properties for sale. So that is an option you should consider.

If you would like to know more or need help navigating the market, my staff and I would enjoy the opportunity to work with you on your adventure! You can call or text me at 865-765-6157 or my support line at 865-654-2111. I can also be reached via email: deborah@deborahkorlin.us

Now is the time to sell!

I’m sure those of you who have been keeping up with my newsletter have heard me say this before: if you have a vacation cabin you’ve been thinking about selling, now is the time. The real estate market in our area has reached a point where buying is about the same price as building. Resort communities such as Sherwood Forest, Starr Crest, and Legacy Mountain that perform the best among rental cabin resorts in our region are selling at prices not seen since before the downturn in 2008. Plus, the number of cabins for sale in our market is incredibly low. So between the lack of inventory and the increased demand among buyers looking for cabins to buy, the prices have significantly increased.

As a result, building is making a comeback. New areas are being developed for cabin construction. As more cabins are built over the next year, the supply will start to level out and we could see sales prices slip just a bit as the demand is met. In the meantime, this could mean a great opportunity for you if you are ready to sell.

Now is the time.

One of the first steps to take in considering selling is to see for yourself what your cabin is worth in today’s market and compare it to the price you paid when you bought it. We can definitely help you with finding those two things out! Just give us a call or send an email or text. I look forward to hearing from you! I can be reached at 865-765-6157 or 865-654-2111, or by email at deborah@deborahkorlin.us.  You will be pleasantly surprised by what you discover. Remember, now is the time.

Brick Ranch home offers country living

brick ranchBrick Ranch home is May’s ‘House of the Month’

This 3-bedroom, 3.5 bath gorgeous brick ranch style home with a completely finished basement could be the perfect home for your family (and for the in-laws)! With separate outside entrances to both floors, full kitchens on both
levels, and washer dryer hookups, this home in Deer Valley subdivision offers all the joys of country living. Measuring a total of more than 3,300 square feet, this brick ranch home has stunning upscale finishes throughout, an open concept floor plan, master suite on main floor, large open windows to enjoy natural light, stainless appliances, an oversized two car garage, and two story decks to enjoy the outdoors or for entertaining your guests. With its well maintained lawn and landscaping, this house is truly move in ready!

To view more of the details about this brick ranch property, click here.

If you’d like to schedule a time to visit this brick ranch style home, call me at 865-765-6157 or my support line at 865-654-2111.