Real Estate Has Bright Spots as the Overall Market Adjusts to Stimulus Withdrawal

Homes in Gatlinburg, Tennessee and across the nation are adjusting to a real estate market without federal tax incentives for buying houses.  My news sources out of the Wall Street Journal feel the market is reacting much as expected, to life without an $8,000 tax credit for buying a new home.  Throughout the duration of this federal program, the stimulus tax credit combined with low mortgage interest rates, to bring buyers back into the real estate market.  The influx of homebuyers absorbed enough of a massive inventory of homes for sale to stall a decrease in home values.  Many areas of the U.S. are seeing home prices rebound nicely.  Obviously, the tax incentives accelerated homebuying activity and enticed buyers to purchase earlier than they may have done without the stimulus.  For this reason, a drop in homebuying was expected as the federal stimulus ended.

The highlight in the current real estate market is that mortgage interest rates are very low and there is a good selection of homes for sale.  Average 30 year rates fell to 4.8% while 15 year rates appeared to rise to 4.25%.  However, the fees charged to borrowers fell, in effect, lowering the 15 year rate.  The challenge in mortgages lie in the tougher qualification standards.  If you qualify, this is a great time to find your property and lock in a really great interest rate on your mortgage. 

In considering East Tennessee Smokies’ real estate, there are several factors that could make now a great time to buy.  First, as previously mentioned, there are great interest rates for qualified buyers and there is a great selection of property for sale.  Second, the Smokies did not see the great spike up in prices that drove other markets across the country.  One can get a lot of value for the money in this area.   Third, our area is a convenient location for over 1/2 of the U.S. population.  The area is physically beautiful and the local area caters to visitors.  In addition, an investment in Smokies real estate could be far more stable than other investments in today’s volatile investment arena.  Contact the professionals of the Jason White Team online or by phone and begin your search today to acquire the property of your dreams in East Tennessee’s Great Smoky Mountains.

Here are a Few of My Current Listings:

Private with Beautiful Mountain View
Plenty of community ammenities, private, yet close to town. Enjoy nature and wildlife at this tastefully furnished log cabin from three covered decks, all with mountain views. Spacious for family gatherings, with two game rooms as well as a living room.
Type: Single Family Home
Location: Pigeon Forge
Price: $325,000
Get more information >
Heritage Log Home w/ Views of Mt LeConte
This beautifully built Heritage Log Home in prestigious Chalet Village has great views of Mt. LeConte. Private yet close to downtown shopping and dining. Three master suites for privacy and on a open lot with level parking.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $379,900
Get more information >
Gatlinburg Home in Enclave w/ Mtn Views
This custom home has beautiful mountain views with plenty of decking and outside fireplace to enjoy. The spectacular kitchen offers plenty of high end appliances and custom details and the master bath is incredible with tumbled Italian Tile.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $1,950,000
Get more information >

Call today for information on any of these or other listings that may be of interest to you!  877-678-2121

Spread the love