Rarity Bay in Eastern Tennessee Welcomes Growth Spurt in 2013 and Expects More for 2014
Saturday, March 1st, 2014 | Uncategorized | No Comments
Rarity Bay, a gated community of 450 residences on Tellico Lake in East Tennessee, saw a significant increase in housing starts during 2013 according to Real Estate Scorecard, a company who writes unbiased real estate reviews, providing in-depth information about popular gated communities in Florida, Georgia, North Carolina, South Carolina, and Tennessee, all in an effort to help people discover where to retire in the Southeast.
Construction began on 13 new homes during 2013, which is more than the previous three years combined! With just a couple months into the new 2014 year, another six new homes are in various stages of the architectural review process and are expected to break ground in the next few months. Several others are expected to be submitted for architectural review within the coming weeks, and the increased growth trend is expected to continue in 2014.
Sales of existing homes, villas, condos, and building lots also increased significantly in 2013, indicating that the economy and Rarity Bay are indeed regaining some traction. Realtors working in this Eastern Tennessee lake community report 19 homes and villas were sold, as well as four condominiums and 57 home sites. Independent sales agents are very optimistic that the growth will continue as the economy continues to rebound.
“As the year 2013 came to an end, it was exciting to see sales numbers and sales dollar volume in Rarity Bay almost double from the past couple of years,” said Karen Millikan, Broker and Owner of On The Lake Realty. “It proves that having faith in our great community, both residents and Realtors, has enabled the community to portray a positive image and put our best foot forward to interested prospective buyers. The Rarity Bay Community still proves to be one of the most beautiful and strong communities in East Tennessee.”
The increased construction and sales activities are primarily a result of both a revived economy and the management changes made in 2012 by the new all-resident Board of the Rarity Bay Community Association Inc. With a new direct marketing initiative, Rarity Bay welcomed more visitors, independent sales agents, and financial investors to consider Rarity Bay for future property ownership, which contributed to this new growth.
As reported in the September 5, 2013, news release, for the first time, Rarity Bay participated in the annual Knoxville Parade of Homes last October. One of the newly built homes was featured and toured by 873 visitors, who also had the opportunity to see the various amenities and spectacular lake and mountain views this community offers. The featured homebuilder, owner, and entire community were thrilled when the home won the award of “Best Home” in the “Over $1 Million” category, as well as three other awards in that category (best kitchen, best bath, and best outdoor space).
As 2014 begins, the Rarity Bay Community Association Board has reported to Real Estate Scorecard that the community finances continue to be operating with a positive cash flow. Design/construction review by the resident-managed Architectural Review Committee and a new professional management services company, First Service, to manage day-to-day operations set the course for Rarity Bay to be an even stronger residential community in 2014.
All key amenities of this Eastern Tennessee gated community (golf course, country club, boat docks, dog park, equestrian center, and others noted below) are in full operation and being enjoyed daily by our residents and their visitors. The offerings of this community certainly set the stage for more positive public recognition and growth this coming year.
We knew Rarity Bay was a gem after our first visit in the spring of 2009. The snow covered Great Smoky Mountains off in the distance left an impression with us we will never forget. Could there be a more beautiful master-planned community in Eastern Tennessee? Rarity Bay’s topography gently rolls down to Tellico Lake and provides jaw dropping views of the mountains, lake, and its golf course. Tellico Lake has been recognized as a Best Place to Boat in the U.S. by Boating Life Magazine.
Property owners are clearly pleased with the ways things are going and say “Walking outside my front door immediately puts a smile on my face.” Another property owner describes Rarity Bay, saying “the scenery is spectacular, the lake and golf course are top notch, and the people are just plain NICE. We’re quite close to Knoxville, which is about as vibrant a medium sized city as you’ll find,” and another says “It is a very friendly, caring, close knit community of people who welcome all new arrivals with open arms.” Another says “I have lived here 18 years, and it has been like heaven.” You can read 93 verified property owner reviews on our website on the bottom of Rarity Bay’s Community Review page.
The home designs are stunning, with dramatic roof lines, stone and brick exteriors, and some of the homes have private boat docks on Tellico Lake. A variety of home styles are available at Rarity Bay. Low maintenance condos can be found in the low $200k’s, villas in the $300k’s, single family homes begin in the $500k’s, and lakefront homes can exceed $1 million. Amenities include a championship golf course, clubhouse with dining, swimming pool, tennis, equestrian center, and dog park. Some of the re-sale homes include a golf membership. We’re thrilled to see all the new construction at Rarity Bay. Approximately 450 of the 1,600 planned homes have been built.
More than 50 social clubs include the Rarity Bay Women’s Club, Rarity Rides (motorcycle club), Rarity Bay Yacht Club, book, garden, and dance clubs, dinners for eight, and volunteerism to help the local community. Rarity Bay also has its own First Responders to care for one another in the event of an emergency. We honor Rarity Bay for their perseverance, strong leadership, and compassion for the local community.
Kudos to Rarity Bay, Real Estate Scorecard’s 2014 Bliss Award winner for Best Tennessee Community of the Year!
