9) OUTAGE Mountain Beauty in East Tennessee (NAPSA)—More and more Americans are realizing the Ge dream of owning a second home. According to industry analysts, second-homesales were up 16 percent in 2005 compared to the year before and accounted for four out of 10 residential transactions. This growth is fueled largely by Baby Boomers, whose forays into vacation-property ownership include previously undervalued areas like the Great Smoky Mountains. With real estate playing a greater role in their investment and retirement strategies, Boomers have become more aware of issues affecting property values. John and Bonnie Leinart of Moline, IIl., re-evaluated their plans when faced with the prospect of ever-escalating insurance costs on their beach condo. “Westarted looking on the Internet and made trips to developments in Tennessee and North Carolina,” says Ms. Leinart. “Wefell in love with the beauty and views in the Great Smoky Mountains.” The Smokies, straddling the border between Tennessee and North Carolina, have been a popular second-home destination for a while, particularly among the “half-backs,” Northerners who retired to Florida only to change their minds and move halfway back to take advantage of lower real estate prices. With the trifecta of low cost of living, low property taxes and no state income tax, East Tennessee is developing into a dream location for vacation and second-home properties. It’s been a good decision for those who have invested, with appraised land values in Sevier County, the gateway to the Many Baby Boomersareinvesting in property in the Smoky Mountains in East Tennessee. Smokies, increasing by nearly 60 percentin the last five years. This combination of value and natural beauty is what convinced the Leinarts to purchase mountain property in the Estates at Norton Creek, a gated luxury development outside Gatlinburg. The couple also saw their purchase as an investment in a lifestyle. “We wanted a family-oriented home where our children and grandchildren would love to congregate,” says Leinart. “We love the peace and serenity here, yet there are fun activities for the kids just down thestreet.” The Leinarts say they look forward to waking up in their new home and seeing the incredible mountain views in the morning. Considering that the Baby Boomer generation currently includes 36 million Americans aged 50 to 59, it’s a second-home dream expected to become reality for a growing number of people across the country. For more information about mountain property in the Great Smoky Mountains, visit www. estatesatnortoncreek.com or call 1-888-657-2798.
