The above photo is something that I haven’t seen in our Gatlinburg area for quite a long time! Yesterday as I was driving toward another new listing we are receiving, I came upon this new construction start in the Sky Harbor community between Pigeon Forge and Gatlinburg. In a very popular area for Smoky Mountain vacation homes and overnight rental cabins, this log cabin home doesn’t look like much yet as it was just started. A speculative construction project (meaning that it is NOT a custom built home being constructed for a buyer who has already committed to purchase the completed home), this property is being built for whomever would like to own a log cabin here in the Smokies. Interestingly enough, the builder agreed just the day before yesterday to sell it to a passerby so this new barely out of the ground home is now SOLD, even though it isn’t anywhere near completion and doesn’t even have a for sale sign in place!
Although everyone knows that we built too many vacation homes in the Smoky Mountains, this home sold because it will have an excellent view, is in a good location for rental, and was priced competitively. The fact that this spec construction vacation home is already sold is a very good thing for our Gatlinburg area real estate community. Many of our jobs in Sevier County are of the construction type and those folks have been hurting for a long time. Furthermore, sold spec homes mean that the area’s unsold inventory is continuing to shrink and that is a very good thing. Prices have started upward and builders can now compete with the existing inventory of homes and still make a profit. All in all, this is great news for sellers, builders, subcontractors, and even real estate agents. The only person who won’t benefit is the buyer who doesn’t buy before prices start upward in a more serious fashion. I anticipate that this won’t take very long based on the continuing increase in the pace of sales.
To find your own Smoky Mountain getaway home before these bargain prices are entirely gone, please contact us!