Laurelwood Lane home offers amazing mountain view

Escape the hustle and bustle of the Pigeon Forge Parkway to this Wears Valley retreat on Laurelwood Lane! Located just

Laurelwood Home in Sevier County
Laurelwood Home in Sevier County

minutes from Pigeon Forge, this sprawling home is centrally located in the Wears Valley community. This home features a massive family room with skylights for natural lighting, a large eat-in kitchen with a wood burning fireplace, and gorgeous mountain views!

This Laurelwood Lane home’s three bedrooms provide plenty of space. It also includes an office connected to the den and a spacious solid deck for indoor/outdoor cookers! See all the details here. Call me at 865-765-6157 to schedule a showing appointment!

Cozy cabin for sale

Ridgewood-1This cozy cabin is nestled in the conveniently located Sherwood Forest Resort. Lovingly maintained and in immaculate condition, this 1 Bed 1 Bath,  cabin features open floor plan with cathedral ceilings, wall of glass, new floating floor, and faux-tile vinyl in kitchen to withstand heavy rental traffic. Hand crafted log furniture rounds out this amazingly intimate, cozy cabin. Located just minutes from Pigeon Forge Parkway and the Spur/Hwy 421 to Gatlinburg. Learn more here. Call me at 865-765-6157 to schedule a showing appointment.

Investing in Cabins

Marketing_Picture-6This month’s topic is for both novice and seasoned investors alike. Our goal is to educate and inform investors on how to best select an investment property so that it will provide exceptional rental income, appreciate above other properties, and maximize tax advantages.

  • Look for a Good Location.

It’s the punch line in the joke…”What are the 3 most important factors to consider when buying real estate? Location, location, location.” When it comes to buying an investment cabin, it’s no joke. As a matter of fact, it’s so important that we’ve made this our first step. When choosing a location consider what the majority of renters are looking for. They want to be close to “the action,” yet not close enough to hear every car door shut or horn blow on the Parkway.

Many investors think choosing a cabin that is far “away from it all” will be appealing to renters.   And it actually may be to “some” renters. However, as an investor, you are looking for a property that appeals to most renters. This is one case where the difference between “some” and “most” can be very big. Here are the things that “most” renters want from a vacation cabin location:

Short drive time to attractions, theaters, shops, etc. Advice: Keep your cabin within 15-20 minute drive time from the Parkway.

  1. Stay on pavement or good gravel roads. Avoid one lane, rutted-out, steep, mountainous roads. Watch situations were it is questionable as to who is going to maintain the road.
  2. Although close is good, don’t get too close. Advice: Be careful with cabins that are only one street away from the Parkway. Remember, you are renting a cabin and cabins are supposed to be located in wooded areas.
  3. Last Question: resort vs. private setting – you can go either way. It seems  50 percent of renters want a resort with a pool and the half wants privacy.

2) Choose Your Amenities Well

Rental cabins have been popular among tourist visiting the Smoky Mountains for the past 30 years. However, some things have changed. What tourists were looking for 30 years ago is not what they want today. If you are going to do well in this investment market, you must stay current with what’s popular to rent.

Similar to fashions and cars, investment cabins have trends. Now a trend in the fashion industry may last one summer and a car may be popular for a year or two. But, rental cabin trends seem to change every 7 to 10 years. For example, 20 years ago a chalet with interior walls of sheetrock and decorated similar to a traditional home did very well on the rental program. 10 years ago, there was a shift in trend, moving towards cabins and away from chalets. Popular cabins back then were smaller and more rustic. Today, renters are looking for premier larger cabins with more amenities. In the last six months we have also seen some top preforming Chalets that were outfitted in a Smoky Mountain Décor and Artistic Lodge style. Top producing cabins/chalets of today will have the following amenities:

  1. Wood interiors or mostly (tongue and groove style)
  2. View and or Pristine Setting
  3. Large Decks
  4. Lots of Glass
  5. One or two game tables- pool table
  6. Hot Tub on the Deck
  7. Vaulted Ceilings
  8. Electronic entertainment, media and sound upgrades
  9. Large flat screen TV’s
  10. Outside Fireplace or Fire pit
  11. Fantastic Upscale Smoky Mtn. Décor

High performing cabins/chalets will also have a theatre and perhaps even an indoor pool. Many of the amenities can be corrected or added. They do make a difference and must be considered. Just changing old TV’s to the latest and largest can change the rental numbers significantly. Because we are all about the numbers we need to look at each cabin and determine what can be done to maximize the rental revenue. We will help you with this process. Some of the best deals are going to be where a seller is making simple mistakes that we can remedy with minimum dollars.

  • Cash Flow- What Can You Expect?

A good investment property will pay for itself through rentals, tax savings and appreciation.   We will want to project the gross revenue and expenses. Rental histories are always quoted in gross revenues. Most rental management companies do a 60/40 split, with you taking the 60 percent.   If you are purchasing a foreclosure or a cabin that is a great buy it is likely that you will be purchasing a cabin that will either not have a rental history, or will have a poor history. We will need to do an analysis as to what is needed to generate the highest and best revenue. We will want to get a rental history from comparable cabins and also estimates from rental companies as to their gross revenue expectations. We will be able to give you estimates from the rental companies that we consider top notch.

  • Choosing The Right Rental Management Company

Almost as important as the cabin you choose, is the management company you place the property with. There are over 200 rental companies in Sevier County alone. Based upon experience, we would only recommend a handful of them. Many of the aggressive, top-of-the-line agencies are very choosy regarding the cabins that go on their program. When interviewing rental companies, one should ask about their marketing strategy, how many cabins they have on their program, and do they own their own cabins or cabin community? If the company does own their own cabins, you need to be comfortable with the fact that those properties will not receive preferential treatment.

Many rental management companies are starting to focus on selected communities. This allows them to focus their marketing efforts on the specific attributes of that community. A frequently asked questions is.” what do management companies charge for their services?” Most companies charge 40% of the gross rental. We usually advise prospective buyers to add another 5% to that number to cover any additional expenses associated with the rental process. Recently we have a cabin rental company that we can recommend that charges 27%; we are excited about their presence in our community. 

Marketing_Picture-7

  • Shopping for Financing.

There are quite a few options when purchasing second homes and investment properties. We will be happy to supply with you a list of our favorite lenders. There are several very strong local banks as wells as national banks and lenders that specialize in second homes and investment properties. Rates are at an all time low and make a purchase at this time quite positive. However the lending process is slower and much more detailed so we will need to allow ample time. You will need to be prepared to provide more records than you are probably accustomed.

The second option is mortgage broker. These individual typically have greater resources and therefore, more options for financing. We can help you with suggestions here as well. If this is your first investment property, your financing options are increased. Most first time investors finance their cabin as a second home. This loan is classified as a residential loan. On investment properties currently you will need to put a minimal of 10% down. If you put 20% down you will get the most favorable rate and there will not be any mortgage insurance required.

  • Understanding the Outlook for Investment Cabins in This Area

Simply put, the forecast for continued growth in this area remains strong. Tourism has increased year after year. Visitation to the Great Smoky Mountain National Park remains at an all time high. We continue to be the most visited National Park in the United States. We are within a days travel time for the majority of the population of the US.  Surveys conducted by the Gatlinburg Chamber of Commerce and the Sevier County Economic Development Council indicated that tourism will continue to flourish. Our clients that have purchased high end cabins report positive cash flow with continuing increase as their cabins build a loyal rental following.

However, we would advise against purchasing chalets and rustic cabins without amenities. Though the rental per night is lower the renters who would choose these are choosing a less expensive condo or hotel. We believe that the rental demand for these will remain low for the foreseeable future. If the location is great, you like the view and the price is wonderful, you might consider taking one of these and upgrading the amenities, adding log siding and tongue and groove. Otherwise you need to purchase a log home and make sure it meets all the criteria we have discussed. There are many cabins to choose all the factors need to fall into place making it a great investment. Should you lose sight of important aspects you can undermine your investment.

Our role is to guide you, research for you, and analysis with you; remind you of your goals and then negotiate the best deal possible. We love the process and we have many, many successful repeat investors. We hope to make you one!

  • In Conclusion

The Key to why this area will bring you the highest rate of return on overnight rentals vs. other destinations is the 12 million visitors to the area each year, about 10 million of those are visiting the National Park.

The Great Smoky Mountain National Park is the 12th most visited attraction in the World; we have more visitors each year than the Louvre or the Eiffel Tower.

We are visited more often than the Grand Canyon, the New York Metropolitan Museum or Hawaii’s Waikiki Beach. That’s the secret and that’s the reason you can get excited about a cabin you can enjoy yourself and know that you are making a great financial investment.  Many of our investors also have stocks and bonds but they tell us they love their investment cabins the most- as they don’t get to enjoy to the view or lavish in the hot tub of their paper investments! It’s a great perk , to visit your investment and count the trip off on your taxes.

We are here to partner with you to meet your real estate dreams of owning a fantastic Smoky Mountain Investment cabin that you and your family can enjoy for many years to come!

Deborah Korlin introduces newsletter

Deborah Korlin introduces newsletter

Hello friends-  Because many of you have signed up for more information in the past, I am starting a newsletter to provide current information about the Great Smoky Mountains area.   In addition, we will be giving advice about real estate.  We will be providing you several listings that I think are extraordinary opportunities for your consideration.  We solicit your comments on the newsletter.  Please give us suggestion of things you would like for us to include.

Sincerely-

Deborah Korlin

Owner-Broker, Century 21 MVP

‘A Starr Place’ cabin offers great opportunity

 

Located just one mile from the Pigeon Forge Parkway, 2020 Starr Crest Drive (“A Starr Place”) is an upscale, true log of the highest quality luxury cabin in the heart of the Great Smoky Mountains.

Deborah Korlin's Selection of Cabin of the Month

Gleaming hardwoods, tongue and groove throughout, walls of glass, ceramic tile, large jetted whirlpool tub with an amazing view are just a few of the features of this spacious, spacious home.  See the details at this link.

Relax in front of the stone stacked fireplace. Experience the breath taking views from your private deck while soaking in the hot tub. Don’t forget about everything else this cabin has to offer:
  •  A game of pool, air hockey or maybe one of the many games the video arcade has;
  • Surf the internet and catch up on email; or
  • Just take time to relax.
The loft can be used as second bedroom but is currently outfitted as a game room. This cabin is sold fully furnished and is the Best of the Best in the most popular resort. It’s a super investment opportunity.

Spacious country home serves variety of needs

Located on Old Red Lane near Sevierville, TN and the Great Smoky Mountains, this spacious, high quality all-brick maintenance-easy country home stands on a landscaped yard surrounded by

Deborah Korlin's Selection for Home of the Month

mature trees. The house includes four bedrooms, three baths, huge utility room/pantry right off kitchen, and lots of room to spread out!  See all the details at this link.

Enjoy the large kitchen with eat-in area while admiring the view of the Smoky Mountains. You will love this coue open floor plan with generous great room, anchored by a handsome stacked stone fireplace and vaulted ceiling. The master suite with well appointed bath, large whirlpool tub, shower and walk-in closet is on the main level along with 2 other bedrooms. You could have an in-law suite or apartment setup downstairs. It has its own easy walk-out access and separate driveway.
The house also offers a fantastic bonus room, a rec room, and a second living area in the finished basement as well as another garage and a workshop. This freshly painted and well maintained home has covered porches and a screened deck with views of the Smokies and Bluff Mountain. There’s plenty of room for growing a family with Boyd’s Creek Middle School right around the corner. Seymour schools are just minutes down Boyd’s Creek! This country home is located only 10 minutes from Sevierville and 30 minutes from Knoxville.

Lots in Great Smokies

Lots in Great Smokies-  This is a super short sale on remaining lots in the On Higher Ground development.   Call me for more details and to see the property.

12 Lots in On Higher Ground resort development – asking $100,000

SHORT SALE, 12 lots (11.72 acres) for $100,000- Beautiful high end development with lovely views of mountains towards Wears Valley.  These lots are located in the beautiful foothills of the Great Smokies and are close to recreation, parks, restaurants, and shopping, yet have the ambiance of the mountains.  This development is well on the way to being filled out.  The roads are already in place.  The lots have been perked and are ready to build.  The development has been very well kept, and half the development contains log homes ranging in price from low $200’s to over $800,000.  These are second homes and overnight rentals. 12 lots- that average over .75 of an acre each, the lots except one have access to utility water. All have electricity at the street.

View of On Higher Ground

See more at this webpage.  Have a great day!

Deborah

More Details on prices and financials for low-priced log cabins in the Great Smoky Mountains

More Details on present prices and financials for low-priced log cabins in the Great Smoky Mountains

As noted in other posts on my blog, the real estate market continues to provide an atmosphere for low costs for vacation and second home log cabin properties in the Great Smoky Mountain region. Cabins located in Sevier County near Gatlinburg, Pigeon Forge, and Sevierville are still providing in this market excellent rental revenues.

As noted in other posts we are offering a group of log cabins at a little above one-half of the appraised value, or 80 percent of the last advertised price by the bank-owner. As an illustration, one of my favorites in this group, the seller will take $184,000. It is listed for $230,000, and the tax appraisal for it is $330,000. The rental income last year (2009) was $45,514. Revenues for the group ranged from $24,000 to over $45,000 in 2009.

Details of the attractive pricing and experience with income for these cabins follow:

Pricing and Income Experience of Log Cabins
Cabin Name
Accommodation
Price

$

2009

Rental

$

1. Call for Info
1 Bed/ 2 bath
168,000
36676
2. Call for Info
1 Bed/ 2 bath
168,000
35405
3. Call for Info
1 Bed/ 2 bath
168,000
35974
4. Call for Info
1 Bed/ 2 bath
180,000
37349
5. Call for Info
1 Bed/ 2 bath
158,000
29498
6. Call for Info
1 Bed/ 2 bath
158,000
29557
7. Call for Info
1 Bed/ 2 bath
158,000
31206
8. Call for Info
1 Bed/ 2 bath
182,000
43250
9. Call for Info
1 Bed/ 2 bath
184,000
45514
10. Call for Info
1 Bed/ 2 bath
180,000
43857
11. Call for Info
1 Bed/ 2 bath
148,000
24029
12. Call for Info
1 Bed/ 2 bath
182,000
39836
13. Call for Info
1 Bed/ 2 bath
148,000
22729
14. Call for Info
2 Beds/ 2 bath
206,000
38469
Call an agent at Century 21 MVP to obtain location and information on these log cabins.

Note that these are in the process of being sold, so some of these may not be available at the time you are visiting my blog.

Log cabins are coming to the marketplace regularly, and are being offered at very appealing prices. Deborah Korlin, real estate broker and co-owner of Century 21 MVP in Sevierville, Tennessee, is very familiar with the home and log cabin investment market in Tennessee, especially in the Great Smoky Mountains. She is, consequently, a very good source of information and expertise. Get more facts on these log cabins, real estate investment possibilities, and available real estate in the Great Smoky Mountains and Knoxville, Tennessee by contacting Deborah using the contact form on this site or call 865-765-6157.

Summary of Low Priced Log Cabin purchase opportunities

Summary of Low Priced Log Cabin purchase opportunities

A log cabin investment in the Great Smoky Mountains area is an opportunity you may want to explore at this time, in spite of the slow recovery of the economy. The economy of the area continues to impart an environment for low prices for vacation and second home log cabin properties. Cabins located in Sevier County, Tennessee, near Gatlinburg, Pigeon Forge, and Sevierville are still providing, regardless of the economy, excellent rental income, the majority providing positive cash flow.

Log cabins are coming to the marketplace regularly, and are being offered at very appealing prices. Author Deborah Korlin, real estate broker and co-owner of Century 21 MVP in Sevierville, Tennessee, is very familiar with the home and log cabin investment market in Tennessee, especially in the Great Smoky Mountains. She is, consequently, a very good source of information and expertise. Get more facts on real estate investment possibilities and available real estate in the Great Smoky Mountains and Knoxville, Tennessee by contacting Deborah using the contact form on this site or call 865-765-6157.

Possibilities for Low Priced Log Cabin Investment in the Great Smoky Mountains Region

Possibilities for Low Priced Log Cabin Investment in the Great Smoky Mountains Region

The real estate market continues to provide an atmosphere for low costs for vacation and second home log cabin properties in the Great Smoky Mountain region. Cabins located in Sevier County near Gatlinburg, Pigeon Forge, and Sevierville are still providing in this market excellent rental revenues. The log cabins are located in an area that is one of the most visited vacation hotspots in the country. In today’s real estate market, particularly with the distressed property seen in all parts of the nation, these log cabins may be among the best investments that are available in real estate. When all of these factors are combined with the fact that the local economy has not been hit as hard as in other regions, log cabin investment for private vacation or for rental property may well be one of the more desirable options at this time.

Low Prices with Positive Cash Flow for Rental Cabins

As this article is being prepared, we are offering a group of log cabins at a little above one-half of the appraised value, or 80 percent of the last advertised price by the bank-owner. As an illustration, one of my favorites in this group, the seller will take $184,000. It is listed for $230,000, and the tax appraisal for it is $330,000. The rental income last year (2009) was $45,514. Revenues for the group ranged from $24,000 to over $45,000 in 2009. These log cabins are being offered at a very attractive price yielding positive cash flow. Obviously, by the time this piece is published and you have read it, this group of log cabins will be gone. However, there will be more log cabins on the market that should offer similar appealing financials.

Exceptional Setting of Smoky Mountain Log Cabins.

Millions come annually to the holiday attractions of Sevier County, Tennessee, and they continue to come. The number of vacationers to this destination has held up well during the recession. They may not spend as much as in the past, but they do have to spend on a place to stay, and log cabins are a part of that sector. The Great Smoky Mountains National Park is the most visited national park in the nation. A lot of cabin properties are next to, or are very near, the park. Dollywood, the exceptional theme park, is located in Pigeon Forge. In fact, the Dollywood theme park won the 2010 Applause Award, which was received by Dolly Parton in Orlando in November 2010. The county abounds with restaurants, entertainment locations, and shopping opportunities for just about everything, and has all you want in terms of mountains, lakes, golf courses, and parks to allow visitors to get outdoors and enjoy hiking, rafting, boating, fishing, or just picnicking. So, any log cabin investment you make is going to be protected substantially by the wonderful gift of nature that exists and the outstanding investments people have made in the area.

The Great Smoky Mountains region is a place of magnificent beauty, gracious neighbors, low cost of living and sensible government. It really is the perfect location to work, raise a family, retire, and just simply enjoy life. This place is a little slower, a whole lot friendlier, not as restrictive, and way lower when it comes to taxes. If you enjoy mountains and lakes, along with first class attractions, you should enjoy coming to the Great Smokies for your holidays. If you like it enough, it may make sense to acquire your own cabin and, in reality, “Own your own Vacation”. You can purchase your log cabin at this time while prices are low, put it on a rental program, and allow it help pay for itself. Eventually, you may well move in permanently, or just for a season, while you try the place on for size, or look for your final residence in the mountains.

A Great Smoky Mountains log cabin investment is easy to carry out.

Buying a log cabin is actually similar to purchasing a home, either primary or second – you have the cabin inspected, obtain a loan or pay with cash, and the cabin is yours! You will have normal utilities just like any other house. You will have to perform some standard upkeep and maintenance. You can place your log cabin in a rental program if it not situated in a resort with a Home Owners Association that takes care of maintenance. There is always obtainable a management organization to take care of cabin maintenance, either the rental company, the homeowner’s association, or a maintenance business.

Now, what about renting your log cabin if you purchase one? Nearly all owners select a cabin rental company to perform this for them. The rental company typically equips the cabin with sheets, towels and consumables such as soap and paper towels and napkins. The rental company also advertises your cabin, books reservations, performs all the billing, check-in and check-out, cleans the property, and gets it prepared for the next tenant.

What about wear and tear on the rental cabin? Many new owners will be anxious about harsh treatment of their log cabin by renters; but, in actuality, there are few problems with damage. Most tenants that come to visit here have paid good funds to do so – they look forward to enjoying “their” log cabin, and they like being in it and everything about it. Therefore, they generally take decent care of your log cabin while they are here. Also, log cabins age gracefully – the timber logs and interior decoration of the cabins wear well.

A log cabin investment is an attractive opportunity, notwithstanding the economy.

A log cabin is indeed an investment you may want to explore at this time, despite the protracted healing of the economy. As I have noted, there are several factors why they are appealing right now as an investment- low cost, rentals holding strong, and location in a well-liked holiday destination. A log cabin investment in the Great Smoky Mountains region is an opportunity you might want to research at this time, despite the protracted restoration of the economy.

Log cabins are coming to the marketplace regularly, and are being offered at very appealing prices. Deborah Korlin, real estate broker and co-owner of Century 21 MVP in Sevierville, Tennessee, is very familiar with the home and log cabin investment market in Tennessee, especially in the Great Smoky Mountains. She is, consequently, a very good source of information and expertise. Get more facts on real estate investment possibilities and available real estate in the Great Smoky Mountains and Knoxville, Tennessee by contacting Deborah using the contact form on this site or call 865-765-6157.