Having a Condo or Town Home in the Smokies is another way to have a great rental property. Unfortunately the Recession has had a great affect on local builders who were in the process of finishing their buildings. As the recession worsened and Builders were unable to sell these condo's, a number of good builders lost their properties to their lender, because of non payment of the construction loan. Also a lot of investors who bought at the market high of 2007-2008 have allowed their lenders to foreclose on there property because it is no longer worth what they paid for it.Their loss can be your gain. You can purchase one of these great condo's at a greatly reduced price, because lenders need cash to lend and don't need to sit on REO properties that are costing them money every day. So to view all of the condo Foreclosures in the Gatlinburg, Pigeon Forge and Sevierville areas just click on the CONDO FORECLOSURE TAB.