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855 Campbell Lead Road
Gatlinburg, TN 37738
$966,000
Conventional
Property
Bedroom
3
Bathroom
4
Property Type
Conventional
Square ft
1934
Property Description
The Highlands of the Smokies is a new mountain-top development with breathtaking, mountain-modern designs, featuring 95 luxury condos to be built in four phases. Phase one is the first offering and is currently under construction, scheduled to be completed in April 2024. Every unit boasts amazing mountain views of the Smokies and an open floor plan. With 10' ceilings and full glass, floor to ceiling living room and master bedroom walls, the overall grand feel of the Great Smoky Mountains will live inside your home. Experience the mountains with resort luxury and turnkey solutions, with an-on site office to attend to you and your guests needs. Elevators will carry you to your home floor and to higher views. Units will be turn-key, tastefully and fully furnished. The quality of the fixtures, flooring, cabinetry, doors, windows, railings and finishes are all first rate. The pool and common elements are stunning, overlooking what's been said to be the best view in all of Gatlinburg. The pool and common elements will be completed in phase one. Unit #310 is a corner unit on the 3th floor and is floor plan B, which is a 3 bedroom, 3.5 bath design. Since it is a corner unit, it has additional windows on two sides, which are in two the of the three bedrooms. It has an upper floor, dramatic and direct view of Mt. LeConte, along with a corner balcony, which is open on two sides. All of the bedrooms have in-suite baths. There is a half bath and laundry room for common use. The master bath features a walk-in closet, walk-in custom tile shower, freestanding tub, double vanities and private water closet. The units in the "10" stack are all on the most Eastern side of the site, which offers an additional degree of privacy. It's a thoughtful design, showcasing the setting with open spaces, ample room sizes and practical storage options. The open kitchen features solid surface counter tops, high quality cabinetry and a spacious bar. First quality engineered wood flooring will be featured throughout the unit, complimented by stylish tile in the bathrooms. This unit comes with one covered garage space. Additional uncovered guest parking is also available. Note that the square footage listed includes the covered balcony. Pre-construction reservations are available now with a 20% non refundable deposit, due at reservation, with a 15 day right of recision period. 80% financing with up to 30-year amortization is available, as are other financing options. There will be an on-site rental company available for all owners with a 70/30 split. Owner's are also permitted to self manage their units. No outside rental management companies permitted. Self-managed units will be charged an additional amenities fee of 12k per year, 1000.00 monthly. This is a rare opportunity to get in on the "ground level" of a premier destination resort property. Reserve yours while supplies last.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2022
MLS Number
--
Location
Address
855 Campbell Lead Road
City
Gatlinburg
State
TN
Zip Code
37738
County
SEVIER
Listing
Provider
Century 21 Legacy GP, original listing
Name
Phone
(865) 436-7121
Office Name
Office Phone
(865) 436-7121
Agent Name
The Jason White Team

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.