Everyone, I know all the bad news is bad enough but when a Realtor from somewhere does the rounds on the early morning shows and tells everyone to buy but only buy in their neighborhood then I have to say something.
I can tell you all right now that buying in the Gatlinburg/Pigeon Forge area is still OK. We have had just a few foreclosures but it is only a drop in the bucket to some locations.
I admit that the mortgage people here also got over zealous and put some buyers in vacation homes that wouldn't qualify for buying a tricycle but the overall majority of our buyers could afford these homes and still own them or may have sold them for a lesser price because the market values have fallen. I know this first hand since I own vacation/investment properties in Gatlinburg and the Great Smoky Mountain area.
Now as a Realtor I am going to defend my area and say without a doubt buying resort property right now is really "a good thing". Gatlinburg is a great place to invest in a cabin and have it on the rental which helps you pay for your investment and enjoy visting the incredible Great Smoky Mountain National Park.
Until next time, Delores A. White, Realtor
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