Current Market Conditions Are Helping Existing Home Sales Rise

My news sources in Washington, D.C. at the National Association of Realtors are excited to see March “existing-home sales” rising as predicted.  The existing-home category includes; single family, townhomes, condominiums, and co-ops.  March data reveals a 6.8% increase over February. February’s figure was 5.01 million units with March increasing to 5.35 million units.  Lawrence Yun, the Chief Economist for NAR, was encouraged that home sales have experienced a broad-based recovery almost everywhere across the country.  Home sales have remained above prior year sales for nine consecutive months.  Another positive factor is that inventories of homes for sale have trended down for 20 months.  Yun feels that this decrease in homes for sale will stabilize home prices.  He feels that much middle class wealth is tied to the value of the family home. The Chief Economist is optimistic that the “home buyer tax credit” stimulus is effectively preserving middle class wealth through the stabilization of home pricing.  Yun is encouraged to see the supply of foreclosures quickly being absorbed by buyers.  This has been especially evident at the lower-end of the market where first-time homebuyers are competing for the deeply-discounted, foreclosed homes.  This process of lowering home inventories and price stabilization should continue as the tax credit stimulus expires at the end of April 2010.  NAR President, Vicki Cox Golder is also pleased with the current housing market.  Loan standards are tougher, but prices have become more reasonable and mortgage interest rates are close to historic lows.

If you are considering real estate here in East Tennessee’s Smoky Mountains, now is a great time to buy or sell.  Our selection of properties is good and qualified buyers will find good mortgage interest rates.  The real estate market in our area is favorable, with prices below their all-time highs.  Property in this area is reasonable with respect to taxes and prices.  On top of that, the scenery of the Smokies is incredibly beautiful.  If 2010 is your year for real estate in Tennessee’s Smokies, start now! You can get on our buyer-oriented website to begin.  Our site allows you to set personal criteria for your property search.  This saves everyone time.  When  you come for a visit, you look at your best selections and it allows you time to enjoy the area’s many different amenities.  Our team of professionals can assist in refining your search.  Begin today to find your property in the Smokies!

Here are a Few of My Latest Listings:

Estate Home on Lake Peninsula
This palatial,custom built, heirloom estate is a perfect home for entertaining or just relaxing by the waterside. With expansive views of Flat Creek(Douglas Lake) the surrounding mountain ridges and professionally landscaped grounds are impressive.
Type: Single Family Home
Location: Sevierville,TN
Price: $1,120,000
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Incredible Smoky Mountain Home & Views!
Outstanding workmanship and distinctive design make this gorgeous mountain getaway with five master suites, gourmet kitchen, HUGE rec room and magnificent,unblemished views of the Smokies a one of a kind!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $799,900
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15 Acre Mountain Lodge!!
Breathtaking views from this Mountain Lodge, on 15 acres, located in prestigious Chalet Village. 12 Master Suites all with their own whirlpool baths, LCD TV’s,king beds & private balconies w/ views! Room to entertain 100 people with parking for 14 cars.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $1,870,000
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Call today for more information on any of our properties!  877-678-2121

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