Initially developed in 2005, Regency Park Subdivision in Sevierville sat more or less dormant for a number of years due to economic conditions that persisted until fairly recently. Now however, new residential home construction around Sevierville has re-started. Two beautiful and expansive homes have been completed recently in Regency Park and more are on the way. With very exclusive restrictions to protect your investment and great mountain views, Regency Park has always been attractive and now it is finally affordable!
On November 21, 2005, at the intial offering of the community, I purchased lot 13 on Park Place Avenue for $74,250 and sold it only about 18 months later (June 27, 2007) for the very full price of $110,000. With the benefit of perfect hindsight, I wish that I had sold ALL of my Smoky Mountain real estate on that day and just rented for the next several years. The next several years were very challenging ones indeed for Gatlinburg and Smoky Mountain real estate, as they were for most of our country. The lot and land market is now finally beginning to improve nicely and sales during the past year are significantly higher than those of the year before period.
On New Year’s Eve, I closed on the purchase of two lots, numbers 14 & 16 (also on Park Place Avenue), at an unbelievable price. Although these lots are each appraised at $80,500 by the Sevier County Tax Assessor’s office, I and am re-offering these superb properties at only $45,000 each. They are on the same side of the street with similar to actually superior views to lot 13 and really do represent quite a value! Nice rolling land, good Smoky Mountain views, and wonderful neighbors make these lots a great bargain. If you want to construct your own executive type home here in Sevier County, this is THE place to build it! Contact us today for more information.