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 [email protected]. You will be pleasantly surprised by what you discover. Remember, now is the time.
