Market Snapshot:
Despite the challenges of this last season, we are having a record year in visitation to our area. Rental revenues are breaking records, and there is a lot of new construction! It is an excellent time to look at purchasing a second home if you are willing to build it! It is not a good time to buy a second home if you are not ready to build. Prices are very high on existing cabins, as inventory is down. That would make it an excellent time to sell! Whether you have a challenging property that might need upgrades, deferred maintenance, or if your property does not have any trait that makes it more desirable than others, this is the time to put it up for sale. “As Is” in today’s market makes for quite an excellent opportunity for you!
LAKE HAVEN RESORT:
Lake Haven Resort continues to progress nicely. This summer will be an excellent time to check out our progress! Enjoy spectacular views of Douglas Lake with the Smoky Mountains looming in the background; the views are simply incredible! The developers have decided to allow cabins of all sizes to be built. This means you can own a small one-bedroom for around $390,000 up to twelve bedrooms that will be sold for approximately 2.2 million.
The designs will flow together in a color palette that allows for subtle diversity but wonderful harmony! The plans will continue to be upscale, contemporary, rustic, but fresh! The gorgeous new lake houses will allow for easy traveling to our area’s top premier attractions such as Dollywood, WonderWorks, and Dolly Parton’s Stampede. The location of Lake Haven Resort will be right off of the expanding Highway 411. This will be quite convenient for those traveling from Asheville, NC, or traveling down I-85. The rental revenue from these lake cabins will have them paid sooner rather than later; unless you refuse to go home and take up a year-round residence. Please feel free to give us a call at 865-429-2121 for financial information and performance!
SEQUOIA TRACE:
We are also launching a close-in resort, Sequoia Trace Resort which overlooks Pigeon Forge and Bluff Mountain; it is located on the little mountain at traffic light #3, Wears Valley Road. Right now, the plan is two-bedroom cabins with pools on the lower floor- or I believe we could talk the builder into allowing you a bedroom instead of a pool if you desire. If you are interested in getting in on the ground floor, give us a call, and we can send you plans and specifications.
Construction loans that roll over to perm loans still have fantastic interest rates, making these a good investment.
