This year even the stalwart of Sevier County, Chalet Village, has seen it’s ups and downs. Chalet Village has been the most predictable community in terms of growth and stability since I’ve been a Realtor, and that’s been a while. However, this community of mostly overnight rental homes and condos is seeing a quick stabilization.

The number of sales pending has increased over the past month as the active inventory has remained steady or even declined in some periods. A few savvy customers are telling us they believe the bottom has been reached here and with interest rates holding this week at around 5.5% they are not waiting any longer to purchase. All good news for the real estate market  and owners who want to sell in Chalet Village and Gatlinburg.

We all hear that in an election year you can expect sales to increase after the election. Even with all of the extreme factors pressing our economy it appears that old adage is coming true.

With the coming and going of Shades of the Past and the Grand Rod Run you always know it’s Fall around here. I have to admit I do like seeing all of those old cars and trucks driving around. I also really like the new trend (new to me anyway) of replacing the old engines and suspensions with modern systems. It’s like having a modern car underneath all that cool design.

The weather has finally reached that state of perfection. With upper 70′s during the day, upper 50′s to low 60′s at night and super low humidity you just can’t help but to go hiking or bike riding. We now have the perfect days to view property too. No wonder so many people come to the Great Smoky Mountains in the Fall. The Gatlinburg real estate market owes practically all it’s success to the mountains and climate that surround it.

So, if you’re planning to come to Gatlinburg, Pigeon Forge or just visiting the Great Smoky Mountains this Fall make sure you take a minute to pay homage to the reason this area is so popular; great temperate weather, beautiful scenery, and friendly people. Have a great Fall season.

Injun Creek Steam Engine

This is Nichols-Shepherd No. 4246 steam engine. Brought to Big Greenbriar Cove in the 1920s to saw lumber for a new school. On the way back out, the engine toppled over into what is now named “Injun” creek, after the wreck. Showing how marketing sometimes goes awry, or maybe it’s just spelling gone wrong.

Grapeyard Ridge trail has many creek crossings on log bridges. As you head up to Injun Creek you will find an old Indian burial ground then a side trail to visit the McCarter Cemetery, passing many rock piles and stone fences. Next camp #32 where Injun Creek and Grapeyard Ridge trail cross.

We took this picturesque hike yesterday after a long day at the office. I was a little aprehensive about a 7.6 mile hike that late in the evening but it was well worth it to see something so unique. While I highly recommend this hike I would suggest you start before 3.

The Gatlinburg real estate market has seen many styles over the past 5 decades. None of which was more pronounced than the a-frames of the 1960′s and ’70′s that dot the mountainsides. Today, a new grand style of luxury has made its way into the mountain scenery. The Big Log Lodges have arrived in Gatlinburg.

This style has been around for many years in the $10 to $30 million dollar estate homes out west in Colorado and Utah. The appearance of these super luxury cabins in the Gatlinburg mountains is still relatively unknown except to the savvy overnight renter. In fact, these homes are bringing in such incredible rental numbers (some over $200,000 per year in gross income) that many of the purchasers have been neighbors and friends passing the word to one another about the investment opportunity.

The most prominent mountainside community of Big Log Logdes right now is Pinnacle Vista. Mind-blowing views, big log construction, very large private lots, and exceptional rental income have combined to make this particular development feel like an overnight success. However, it’s success has been several years in the making. A local developer SKL, LLC (David Moersdorf, his wife and sons) have made Pinnacle Vista their primary focus. Building with the extremely large logs does take some time and they have committed to the task much to the joy of several new owners of these Lodges.

It’s not often that you get to see your hometown transform with new high-end communities, underground downtown utilities, and a flurry of new investment (a new Hilton, several restaurants and a downtown waterpark are slated to be completed within the next 2 years). I am happy to say that I have been and will continue to be here to witness it all.

Gatlinburg Mountains

The Gatlinburg real estate market is seeing the absorption rate increasing for existing homes. In the past 4 or 5 years the building of new homes was fast and furious. Now, the building of new homes in Gatlinburg has slowed tremendousely and subsequently has allowed the existing homes for sale to be absorbed at a faster pace.

Good news for the sellers who need to move their money elsewhere or have reached the end of their depreciation schedule. Also, good news for buyers who are ready to take advantage of the market and the exceptional homes available now.

Increasing sales and decreasing inventory mean that our market is stabilizing and returning to a more normal sales environment. Not to be mistaken with the exuberant period we saw in the past few years but more like the steady appreciation from the early 90′s to the very early 2000′s. A welcome change even though we didn’t see the appreciation rates of 30 to 60 percent like some areas of the country.

All of us here in Gatlinburg know that we live in a special place. Lately, several of us at Century 21 Four Seasons have decided to start a hiking club. No membership roll or dues, just a few enthusiastic hikers from our real estate offices in Gatlinburg.

Last week we hiked Old Sugarlands Trail. It’s a moderate to easy hike that runs right along side the west prong of the Little Pigeon River. Lush wildflowers dot the landscape during the spring and it’s the perfect place to spot trilliums and ladyslippers. In the summer it’s full of dense greenery and as always towering rock formations.

About 1.5 miles into the hike we were lucky enough to come upon a mature female (I think, didn’t close enough to really tell) bear. She was cautious of us and stayed at least 50 feet away as we continued our hike. I always feel it’s a special treat to see a bear while hiking or at my home here in Gatlinburg.

Really, I get excited about seeing all of the large wildlife we have here in the Great Smoky Mountains. Seeing 3 elk, a bull a sow and their fawn, on Sunday coming back from a rafting trip was also a real treat.

Next week I think we’re hiking Injun Creek Trail. Can’t wait to see what that’s like!

It’s always easy to tell when the Summer rental season is happening in Gatlinburg and Pigeon Forge. The streets are busy and the sidewalks are full. The locals are making the most of the “back roads” and the few lucky tourist who have found out about them are too. If you are lucky enough to have a contact in Gatlinburg or Pigeon Forge that can direct you around the traffic, take advantage of it.

Of course, your friendly local real estate agency will be happy to help.

One more thing that always reminds me of tourist season is when the grocery stores are full. The produce is always fresh!

The sales environment in the Gatlinburg real estate market this year has seen it’s ups and downs. Fortunately, right now everything seems to be going up. The average list price to sale price ratio this ytd is 93.7%. An impressive number for an off year. The average sales price in Gatlinburg (includes homes and condos) so far this year is $214,653. We’re starting to see more of the homes in Gatlinburg over $350,000 go under contract right now. I predict that this Fall will continue to be a busy time for us.