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Wallace Luxury Spotlight | 340 W Mountain Drive Rockwood, TN 37854
Waterfront Luxury Living in Grande Vista Bay
Nestled in the prestigious Grande Vista Bay community, this exceptional waterfront home offers unparalleled panoramic views of Watts Bar Lake and the untouched, protected Thief Neck Island. Perfectly positioned to capture breathtaking sunsets, this 6,300-square-foot estate is a true masterpiece of design and comfort.
Designed for Lakefront Living
The open-concept layout seamlessly blends elegance and function, with floor-to-ceiling windows in the great room, breakfast area, and kitchen—all framing the stunning lake views. The primary suite is a private retreat, featuring:
- Private morning porch access
- Expansive lake-view windows
- Two custom walk-in closets with double racks
- Spa-like ensuite with an oversized walk-in shower, heated Jacuzzi tub, dual vanities, and heated floors
A soaring stone fireplace and built-in TV cabinet make the great room the perfect space to unwind. The attached enclosed sunroom, with a gas fireplace and grill, is ideal for entertaining year-round.
A Chef’s Dream Kitchen
The gourmet kitchen is designed for effortless entertaining, featuring:
- Wolf 5-burner gas cooktop
- Warming drawer
- Full refrigerator and freezer
- Wall oven and microwave
- Wine fridge
- Large island and walk-in pantry
- Breakfast counter seating for six
The formal dining area, with floor-to-ceiling windows, provides the perfect setting for memorable gatherings with family and friends.
Expansive & Versatile Spaces
This home offers an abundance of thoughtfully designed spaces, including:
- Bright home office with built-in bookcases and French doors
- Second main-level bedroom (converted into a pottery studio, easily converted back)
- Hall half bath for guests
- Laundry room with quartz countertops for crafting or sewing
- Mudroom for convenience
The upper-level bonus room offers flexibility for an additional office, entertainment space, or personal retreat with a full walk-in attic for storage.
Lower-Level Recreation & Lake Access
Descending the stone staircase, you’ll find a huge recreation room with built-ins and a full wall of windows showcasing lakefront activity. This level features:
- Three large bedrooms
- Double sink bath plus an additional full bath
- Second laundry room
- Massive unfinished storage area with outdoor access
- Stone patio with firepit
- Private covered dock with lifts for a boat and wave runners
After a day of lake adventures, gather around the firepit or take a sunset cruise just steps from your backyard.
Impressive Outdoor & Additional Features
- Three-car garage with finished flooring
- Fenced garden area for cultivating your favorite plants
- Estate sitting on two lots totaling 2.31 acres
- Second lot available for sale or additional development
A Luxury Escape Like No Other
This remarkable home offers privacy, luxury, and an active community lifestyle, all within seven miles of local conveniences. Enjoy the ultimate lakefront retreat, where you can even boat to the Gulf.
Your dream home awaits in Grande Vista Bay—schedule your private showing today!
Listed by Joanne “just joanne” Mielenz & Nevin Sharma | Wallace Real Estate Lakeside Office | Click here for more info!
It Takes More Than Luck to Sell Your Home: Why Wallace Real Estate Makes the Difference
March is a time when we often think about luck—four-leaf clovers, pots of gold, and lucky charms. But when it comes to selling your home, luck isn’t what gets results. A successful home sale takes strategy, expertise, and the right real estate professionals by your side. That’s where Wallace Real Estate comes in.
If you’re considering selling your home this spring, here’s why working with Wallace gives you a competitive edge.
Homes Sell Faster with Wallace
When you list your home, time is money. The longer a property sits on the market, the more likely you’ll need to adjust the price, negotiate repairs, or deal with increased carrying costs. Wallace Real Estate consistently outperforms the competition in getting homes sold quickly.
When compared to the average days on the market for our entire area, Wallace saw homes selling more quickly. In fact, homes listed with Wallace sell 24% faster than the market average, helping sellers move on to their next chapter sooner.
Your Home is More Likely to Sell
The reality is that not all homes that hit the market end up selling. Some deals fall through, and others linger on the market too long without attracting the right buyer. However, Wallace agents have a proven track record of getting homes to the closing table. When you list with Wallace, your home is 11.67% more likely to sell compared to the overall market.
More Than Just a Listing—A Winning Strategy
So, what’s behind these numbers? It’s not luck—it’s the expertise and dedication of Wallace agents. Here’s what makes the difference:
✔ Pricing Strategy: Wallace agents use real-time market data to price your home competitively, ensuring it attracts buyers while maximizing your return.
✔ Professional Marketing: High-quality photography, strategic online promotion, and extensive local exposure ensure your home reaches the right audience.
✔ Market Expertise: With nearly 90 years of experience, Wallace Real Estate understands the East Tennessee market inside and out.
✔ Negotiation Power: From handling multiple offers to navigating inspections and appraisals, Wallace agents have the skills to get deals done.
✔Personalized Service: Every home is unique, and Wallace agents craft a tailored approach to meet your goals and timeline.
Wallace is also a member of the LeadingRE network, which means the brokerage is not only local, but also global with connections in countries around the world.
Make Your Own Luck—Work with Wallace
Selling your home shouldn’t be a roll of the dice. With Wallace Real Estate, you have a trusted team working to get you the best outcome. If you’re ready to sell, don’t leave it to chance—let’s connect today, so you can start your journey toward a successful home sale.
February 2025 Real Estate Market Update: What You Need to Know
February Market Update: Signs of a Spring Awakening in East Tennessee Real Estate
As we transition from winter to spring, the East Tennessee real estate market is showing promising signs of activity. While February was a mixed bag in terms of closed sales, there’s momentum building in pending transactions, new listings, and overall inventory. Let’s dive into the latest market trends and what they mean for buyers and sellers alike.
New Listings: More Choices for Buyers
February saw an increase in new listings compared to both January and the same time last year, offering buyers fresh options they haven’t seen before. This boost in inventory may have contributed to an uptick in contract activity as buyers found homes that met their needs. The luxury market also experienced a rise in new listings priced at $650,000 or more, signaling more high-end options coming to market.
Active Listings: A More Balanced Market?
With just under 8,000 active listings available throughout the month, buyers now have a broader selection to choose from—a shift we’ve been waiting for. Inventory growth like this is essential for a more balanced market, giving buyers breathing room to make informed decisions. The luxury segment saw just under 2,000 active listings, a slight increase from January, indicating steady movement in this category.
Sales Pending: Buyers Are Back in Action
Pending sales saw a notable jump from January to February, mirroring a pattern from last year. What’s driving this shift? Perhaps buyers are getting acclimated to current interest rates, recognizing that prices are likely to rise, or simply enjoying more inventory options. Whatever the case, this increase is a strong indicator of solid closing activity in March. The luxury segment experienced a more modest rise, consistent with typical seasonal trends.
Closed Sales: A February Slowdown
Despite the surge in pending contracts, February marked a multi-year low for closed sales. Even last year, when Snowmageddon threw a wrench in the market, there were more closings than this February. However, with the pending sales increase, we anticipate this number to rebound in the coming months. Luxury sales also dipped slightly but remained within expected seasonal fluctuations.
Months of Supply: More Homes, Longer Wait Times
With a dip in closings and a rise in new listings, the months of supply ticked up to 7.5 months. To put this in perspective, this means that if no additional homes were listed, it would take about 7.5 months to sell through the current inventory. While this number has typically remained flat or even declined between January and February, it’s still a far cry from the over two-year supply seen during the height of the last recession.
Luxury homes currently have a nearly 14-month supply, reflecting the slower pace of high-end sales. However, this is not uncommon—many luxury buyers and sellers time their transactions around the seasonality of breathtaking views, lakefront settings, and lush spring landscapes.
Median Sales Price: Holding Steady with Upward Potential
The median home price remains stable at around $360,000, with market predictions suggesting a potential 5% increase over the course of the year. Luxury homes, on the other hand, saw a price uptick between January and February, a trend we’ll continue to monitor as demand for high-end properties in East Tennessee evolves.
Days on Market: A Seasonal Shift
February’s slower market pace is evident in the average days on market, which now sits at around 65 cumulative days. Typically, this metric peaks in January before declining as the market heats up. For sellers, this is an important time to ensure pricing remains competitive. Agents should be running fresh comps every few weeks to keep listings aligned with the current market. Luxury homes historically take longer to sell due to their unique nature and niche buyer pool, making strategic pricing and marketing essential.
Looking Ahead: Spring Market Momentum
With pending sales rising and new listings hitting the market, the foundation is being set for a more active spring. Buyers appear more confident, and while inventory is growing, demand remains strong. Whether you’re looking to buy or sell, staying informed on market trends will be key to making the most of current opportunities.
Thinking About Buying or Selling? Let’s Talk!
Whether you’re looking for your first home, selling your current one, or simply curious about market trends, I’m here to help you navigate this evolving market.
*Stats provided with permission from the East Tennessee Realtors Multiple Listing Service. As reported by Claudia Stallings, Wallace Real Estate COO.
Wallace Luxury Spotlight | 130 Timber Circle Lenoir City, TN 37772
Luxury Living with Stunning Views in Avalon
Discover the perfect blend of luxury, tranquility, and convenience in this stunning 3,945-square-foot home, nestled on a private cul-de-sac with breathtaking mountain and sunset views. Overlooking the Avalon Golf Course fairway, this residence offers a peaceful retreat with a protected wooded area just across the street.
A Grand Entrance & Elegant Interiors
The circle driveway provides easy access to the side-entry garage, welcoming you into a home designed for both comfort and sophistication. From the moment you enter, you’ll be captivated by the hardwood floors, vaulted ceilings, and plantation shutters that enhance the bright and inviting living room. A stone fireplace with built-in bookcases and a wallpaper accent adds character and warmth to the space.
A Chef’s Kitchen Designed for Entertaining
The updated chef’s kitchen (2022) is the heart of the home, featuring:
- Quartzite countertops for a sleek, high-end finish
- Stunning backsplash and under-cabinet lighting
- Spacious island with sink, perfectly positioned for family gatherings
- Coffee and wine bar with a built-in wine cooler
- Custom pantry doors repurposed from an old monastery, adding a unique, dramatic touch
Whether you’re preparing a casual meal or hosting an elegant dinner party, this kitchen is designed to impress.
Seamless Indoor-Outdoor Living
The sunroom, accessible from both the living room and main-level primary suite, provides the perfect place to enjoy your morning coffee or take in the evening sunset. Step out onto the deck, which offers quick access to the professionally landscaped yard with accent lighting, enhancing the home’s natural beauty.
A Primary Suite with Thoughtful Details
The main-level primary suite is a spacious retreat, complete with:
- Expansive en-suite bathroom featuring dual sinks and a large walk-in shower
- Walk-in closet that connects to the dual-functional laundry room
- Built-in dog crate & pet station, a custom feature for pet lovers
An oversized second bedroom is also located on the main level, offering privacy and a full bath for guests or family members.
Versatile Lower Level Living
Descending to the lower level, you’ll find two additional spacious bedrooms, a full bathroom, and a bonus room with endless possibilities. The adjacent second family room offers a cozy gathering space, perfect for a home theater or game room. LVP flooring throughout ensures easy maintenance and durability.
A convenient lower-level kitchen makes entertaining a breeze, especially when hosting cookouts on the covered porch overlooking the backyard.
Expansive Basement & Additional Features
The partially finished basement (745 SF heated/cooled) includes:
- Workshop and craft room, ideal for hobbies or DIY projects
- Gym space for fitness enthusiasts
- Two enclosed storage areas, perfect for keeping seasonal decorations organized
- Side-yard access from the mechanical room
Modern Upgrades & Smart Features
- New Trane/Mitsubishi HVAC (2023)
- 50AMP-PHEV vehicle battery charging station in the garage
Avalon: A Premier Golf Community
Living in Avalon means access to one of Tennessee’s premier golf courses, designed by Joseph L. Lee. This 18-hole course, spanning 6,764 yards, challenges players of all levels with its varied terrain and elevation changes. Avalon is also home to the only Primo Zoysia greens in Tennessee, ensuring a superior playing experience.
Unbeatable Location
Located just 20 minutes from downtown Knoxville and 7 minutes from Turkey Creek, this home provides easy access to:
- Premier shopping and dining
- I-40 for seamless commuting
- McGhee Tyson Airport for travel convenience
Experience Avalon’s Finest Living
This exceptional home offers unmatched luxury, privacy, and accessibility, making it a rare find in Avalon. Schedule your private showing today and experience this remarkable property firsthand!
Listed by Barbara and Rod Stevens – Wallace Farragut Office | Click here for more info.
Wallace Luxury Spotlight | 5112 Gouffon Road Knoxville, TN 37918
Charming Home in Mont Richer with Stunning Outdoor Space
Discover the perfect balance of privacy, convenience, and modern updates in this beautiful Mont Richer home. Nestled in an exclusive subdivision, this home offers the peaceful feel of the countryside while being just 3.5 miles from 640, providing quick access to shopping, dining, and city conveniences.
Exceptional Features & Updates
This home is designed for comfortable living, featuring a fully finished walk-out basement that expands your living space and provides versatile functionality.
Recent updates ensure peace of mind with:
- New roof and HVAC within the last 2 years
- Expansive back deck with all railings and surfaces replaced
A Backyard Designed for Enjoyment
The large backyard is a true outdoor retreat, featuring thoughtful landscaping and an assortment of fruit trees, including:
- Apple trees
- Peach trees
- Pear trees
- Fig trees
Enjoy the beauty of nature while relaxing on your spacious deck or exploring your private backyard oasis.
A Home That’s Move-In Ready
Inside, this home is immaculate and ready for new owners to make it their own. Whether you’re looking for modern updates, ample space, or a tranquil setting, this property delivers everything you need in a dream home.
Don’t miss out on this rare opportunity—schedule your private tour today!
Listed by Michaela Newheart – Wallace North Office | Click here for more info!
Wallace Luxury Spotlight | 5259 Walkercrest Lane Knoxville, TN 37918
Luxury Living with Breathtaking Mountain Views
Nestled near the top of the coveted Mont Richer subdivision, this gorgeous cul-de-sac home offers stunning mountain views and an unparalleled blend of elegance and comfort. Designed for both relaxation and entertainment, this home is truly a private retreat waiting to be yours.
A Backyard Paradise
In 2022, the backyard underwent a major transformation, turning it into an outdoor oasis complete with:
- In-ground, vinyl-lined, saltwater, heated pool
- Expansive paver patio for seamless entertaining
- Permanent gas fire pit for cozy nights under the stars
- Beautifully landscaped retaining wall enhancing the natural beauty of the space
The wooded back property line ensures ultimate privacy, making the pool, patio, and screened-in porch feel like a secluded getaway.
Spacious & Versatile Interior
Inside, the home is just as impressive, featuring a fully finished lower level with over 1,300 square feet of living space. Additional highlights include:
- A massive 25’x13’ storage room, ideal for organization
- A second mini garage (25’ deep), perfect for a golf cart, riding mower, or seasonal storage
- Professionally painted interior in late 2020, ensuring a fresh, modern aesthetic
Move-In Ready & Waiting for You
This immaculate home is ready for its next owners to enjoy everything it has to offer. Whether you’re soaking in the breathtaking views, lounging by the pool, or taking advantage of the ample living space, this home delivers the perfect balance of luxury, comfort, and privacy.
Don’t miss the opportunity to make this stunning property your new dream home—schedule a private showing today!
Listed by Michaela Newheart – Wallace North Office | Click here for more info!
