Mortgages are low, prices are down....................
Never before have we had so many properties around the lake on the market at one time. The buyer today, whether looking for lakefront lots, lakeview homes or something in town a short drive from the lake, has a choice of properties. I can remember a few years ago that we seemed to have a shortage of quality properties, but that is not true now.
One of the best lakefront bargains is a level one-acre lakefront lot in Lone Mountain Shores for $136,500 with lovely lake and mountain views. Two years ago, this lot would have been on the market for over $200,000. Because there is a limited amount of lakefront on Norris Lake (remember that only about 20% of the shoreline can be developed) there is a very finite about of really good lakefrontage available. But ALL communities have lakeview lots - some have several hundred. So there is always a good supply of lakeview lots on the market. And, with the exception of a couple of communities, these prices have fallen as well. Some sellers have told me that they intend to RAISE the prices come summer.
If you had ever dreamed of retiring or vacationing in an area with a low cost of living, no state income tax, relaxed lifestyle, friendly people and an uncrowded, pristine lake - now is the time to look at Norris Lake!