Cabin foreclosures, bank owned cabins, REO properties in the Smoky Mountains. Gatlinburg Cabin Foreclosures, Pigeon Forge Cabin Foreclosures, Sevier County TN Foreclosures in the Smoky Mountains
Jay Fradd - Smoky Mountain Realtor servicing Gatlinburg, Pigeon Forge, Wears Valley, Townsend, Sevierville, Cosby, and the Smokies!

Cabin Foreclosures in the Great Smoky Mountains (Gatlinburg, Pigeon Forge, Sevierville,Wears Valley, Seymour)

Below is a list of foreclosures and short sales in the Smoky Mountain Area of Sevier County (also includes portions of Sevierville TN & Blount, Cocke, & Jefferson Counties)
Foreclosures By Area or Foreclosures By Subdivision

* Data obtained from the GSMAR (Great Smoky Mountains Association of Realtors) and KAARMLS (Knoxville Association of Realtors). Data such as the availability of properties is not guaranteed as accurate along with any price changes. A best effort is made to maintain the accuracy of this page, but is not guaranteed. The listings within this page belong to other Brokerages and Realtors within the GSMAR & KAARMLS. This data is for information and statistic purposes to evaluate the number of foreclosures on the market, the areas of foreclosed properties and the price trends of those properties.

 

Example Cabin Foreclosure Bargains in the Smoky Mountains:

Black Bear Ridge Resort Cabin Foreclosure in the Smoky Mountains. Pigeon Forge REO, bank owned, foreclosure cabinThis cabin below (and pictured to the left) is located in Black Bear Ridge Resort in Pigeon Forge, TN adjacent to Wears Valley. The tax market value from Sevier County is $667,900. The log cabin sold furnished originally for $795,000 on January 13, 2006. On January 5, 2007 Suntrust Bank took over the property in foreclosure. At the auction sale, Suntrust Bank paid $666,152. The current owner puchased the foreclosed cabin (which was unfurnished) for $365,000 on July 11, 2007. He paid approximately 46% of what the original owner paid in 2006 and 54.65% or $302,900 less than the tax value of the property!

This is one of the widest margins between the foreclosed sale value and the original purchase price, but there have been other similar sales within the market and current opportunities for nearly the same scenarios. See the Sevier County Courthouse tax record below for the details on the sale mentioned above.


Smoky Mountain foreclosures, REO, bank owned cabins , homes, and real estate in Gatlinburg, Pigeon Forge, Wears Valley, Sevierville, Pittman Center, Cosby, Townsend, and more!

Gatlinburg TN Cabin Foreclosures including Pigeon Forge, Sevierville, and the entire Smoky Mountain region

The recent housing bubble bursting has had a notable effect on the investment cabin market in the Smokies. The cabin rental market has not been impacted as significantly as the primary resident markets across the nation, but an impact has been felt nonetheless. With bank owned and foreclosed investment cabins being listed for sale below market value it has caused owners in good standing with their lender to be forced to drop their price to remain competitive in the market.

With the foreclosed properties, banks typically have a methodical process of dropping the price at a certain determined time and amount if the home has not sold. Banks do not want to hold onto properties for an extended period of time. They typically will not "give away" a property either though. Finding the perfect balance, knowing when to make an offer on bank owned property and their bottom dollar is something Jay strives to achieve when representing a client purchasing REO property in the Smokies.

Jay has access to and is a subscriber to the database of the leading source in the United States that tracks properties in different stages of foreclosure. This includes special software with databases informing him where a property is in each stage of the foreclosure process, who to contact, the amount owed on the property, location maps of the properties and much more! A brief example can be seen in the photo to the right (showing the foreclosed properties in the Smoky Mountains). If you are searching for a bargain on an investment cabin rental in the Smokies, Jay would be happy to work with you and provide his help during each process.

For information about foreclosures, bank owned properties, and auctions for a particular area in the Smoky Mountains please use the links below:

Cocke County - Cosby, Newport, Parrotsville, Del Rio

Douglas Lake - Dandridge Area

Gatlinburg TN Cabin Foreclosures

Jones Cove TN Foreclosures & Bank Owned Properties

Pigeon Forge TN Cabin Foreclosures & REO Property

Sevierville TN Cabin Foreclosures, Bank Owned Homes & Land

Waldens Creek TN Cabin Foreclosures & REO Homes

Wears Valley TN Cabin Foreclosures & Bank Owned Properties

Blount County TN Foreclosures & Bank Owned Property

 

REO Asset Managers - BPO for foreclosures, banks, REO, and investment properties and cabins in the Smoky Mountains including all of Sevier County and most of Blount, Cocke, & Jefferson Counties
 
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