Sevier County Market Report – July 2018

Sevier County Market Report – July 2018

Homes

July Market Report - Homes

Sevier County

1164 homes sold in Sevier County from January to July of 2018.
1452 homes sold in 2017.
Sales are down 20%.

Average price has increased by 7% and is up by $15,000.
Average price is $243,871.

Available Inventory is down 24%, but Volume only down by 14%.

Gatlinburg

206 homes sold in Gatlinburg from January to July of 2018.
219 homes sold in 2017.
Sales are down 6%.

Average price has increased by 12% and is up by $26,000.
Average price is $246,095
Available Inventory is down 12%, and Volume up by 6%.

Pigeon Forge

224 homes sold in Pigeon Forge from January to July of 2018.
251 homes sold in 2017.
Sales are down 11%.

Average price has increased by 11% and is up by $25,000.
Average price is $256,755.
Available Inventory is down 28%, but Volume only down by 1%.

Sevierville

341 homes sold in Sevierville from January to July of 2018.
425 homes sold in 2017.
Sales are down 20%.

Average price has increased by 10% and is up by $22,000.
Average price is $241,557.
Available Inventory is down 25%, but Volume down by only 12%.

Douglas Lake

29 homes sold in Sevierville from January to July of 2018.
43 homes sold in 2017.
Sales are down 33%.

Average price has decreased by 18% and is down by $54,000.
Average price is $246,271.
Available Inventory is down 19%, and Volume down by 45%.

Wears Valley

72 homes sold in Wears Valley from January to July of 2018.
123 homes sold in 2017.
Sales are down 41%.

Average price has increased by 9% and is up by $23,000.
Average price is $293,542.
Available Inventory is down 39%, and Volume down by 36%.

Seymour

98 homes sold in Seymour from January to July of 2018.
100 homes sold in 2017.

Sales are up 2%.
Average price has increased by 3% and is up by $6,000.
Average price is $204,253.
Available Inventory is down 10%, and Volume up by 1%

Lots 

July Market Report - Land

Sevier County

279 lots sold in Sevier County from January to July of 2018.
275 lots sold in 2017.
Sales are up 1%.
Average price has increased by 14% and is up by $5,000.
Average price is $43,391.

Available Inventory is down 4%, and Volume up by 16%.

Gatlinburg

55 lots sold in Gatlinburg from January to July of 2018.
70 lots sold in 2017.
Sales are down 21%.

Average price has decreased by 3% and is down by $1100.
Average price is $34,494.
Available Inventory is up by 2%, and Volume down by 24%.

Chalet Village

21 lots sold in Chalet Village from January to July of 2018.
20 lots sold in 2017.
Sales are up 5%.

Average price has increased by 27% and is up by $10,000.
Average price is $51,128.
Available Inventory is up by 7%, and Volume up by 33%.

Pigeon Forge

45 lots sold in Pigeon Forge from January to July of 2018.
31 lots sold in 2017.
Sales are up 45%.

Average price has increased by 8% and is up by $3,000.
Average price is $41,148.
Available Inventory is flat, and Volume up by 57%.

Sevierville

62 lots sold in Sevierville from January to July of 2018.
56 lots sold in 2017.
Sales are up 11%.

Average price has increased by 26% and is up by $8,000.
Average price is $42,443.
Available Inventory is up by 6%, and Volume up by 39%.

Douglas Lake 

14 lots sold on Douglas Lake from January to July of 2018.
10 lots sold in 2017.
Sales are up 40%.

Average price has increased by 66% and is up by $32,000.
Average price is $82,135.
Available Inventory is down 7%, but Volume up by 133%.

Wears Valley

21 lots sold in Wears Valley from January to July of 2018.
23 lots sold in 2017.
Sales are down 9%.

Average price has increased by 13% and is up by $5,000.
Average price is $49,709.
Available Inventory is down 11%, and Volume up by 3%.

To locate a market report for a prior period click here.

Drop a comment below if you found this information helpful, or if you have any suggestions!

Sevier County Property Tax Rate

Sevier County Property Tax Rate
We receive many questions regarding the Sevier County Property Tax Rate

The property tax rate is per $100 assessed value of the home. 

County tax for Sevier County is $1.54.
Sevierville is $0.31.
Pigeon Forge is $0.1242.
Gatlinburg is $0.1493, and
Pittman Center is .77.

The ratio of assessment is 25% for residential/rental property. This applies to owner occupied homes and second homes.  See the examples below for a home assessed at $100,000 and $250,000.

 

Sevier County: $1.86 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $1.86 = $465.00 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $1.86 = $1162.50 paid per year

Sevierville: $.85 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $.85 = $212.50 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $.85 = $531.25 paid per year

Pigeon Forge: $0.20 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $0.20 = $50.00 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $0.20 = $125.00 paid per year

Gatlinburg: $$0.1592 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $0.1592 = $39.80 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $0.1592 = $99.50 paid per year

Pittman Center: $.85 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $.85 = $212.50 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $.85 = $531.25 paid per year

There is no Income Tax.

Sales Tax in Tennessee is 7%.  Sevier County sales tax is 2.75%. For a total of 9.75% in sales tax in Sevier County. 

 

Many visitors to our area find our property taxes very reasonable. The influx of visitors provide a revenue stream that assist in cost sharing to developing the area.  This helps to keep costs lower for residents.

If you are interested in relocating, or owning investment property that keeps you coming back with tax incentives, then check out the Jason White Team website.  You set your own search criteria and view only those properties that fit your criteria. When it is time to take a personal look, our team of property professionals are here to assist you.  Contact us today to begin your Smoky Mountain property acquisition.

Sevier County Market Report – June 2018

Sevier County Market Report

Sevier County Market Report

 

Sevier County

998 homes sold in Sevier County from January to June of 2018. 1120 homes sold in 2017. Sales are down 11%.

Average price has increase by 7% and is up by $15,000. Average price is $245,574.

Available Inventory is down 17%, but Volume only down by 5%.

 

Gatlinburg

177 homes sold in Gatlinburg from January to June of 2018. 169 homes sold in 2017. Sales are up 5%.

Average price has increase by 10% and is up by $22,000. Average price is $247,943.

Available Inventory is down 1%, but Volume up by 15%.

 

Pigeon Forge

192 homes sold in Pigeon Forge from January to June of 2018. 206 homes sold in 2017. Sales are down 7%.

Average price has increase by 9% and is up by $20,000. Average price is $261,637.

Available Inventory is down 23%, but Volume up by 1%.

 

Sevierville

301 homes sold in Sevierville from January to June of 2018. 328 homes sold in 2017. Sales are down 8%.

Average price has increase by 11% and is up by $24,000. Average price is $243,382.

Available Inventory is down 18%, but Volume up by 2%.

 

Wears Valley

61 homes sold in Wears Valley from January to June of 2018. 83 homes sold in 2017. Sales are down 27%.

Average price has increase by 10% and is up by $27,000. Average price is $291,193.

Available Inventory is down 32%, and Volume down by 19%.

 

Seymour

75 homes sold in Seymour from January to June of 2018. 74 homes sold in 2017. Sales are up 1%.

Average price has increase by 10% and is up by $18,000. Average price is $211,113.

Available Inventory is even, and Volume up by 11%

 

Previous market reports can be found here.

Drop a comment below if you enjoy having the statistical data from the Sevier County Market Report laid out in this easy to read fashion!

 

Purchasing Land? Things to Consider

Purchasing Land - Things to Consider

 

We’ve created a list of six things to consider while purchasing land. This list is not all encompassing but is a great start to your research.

Zoning

A quick internet search should result with the city or county’s zoning regulations. Pay special attention to reference the most updated regulations as they are subject to change. You can find Sevier County’s zoning regulations here.

Restrictions

You will find restrictions in the legal description of the deed. These may either be in the body of the deed or attach as an appendix. Reach out to the county clerks office to access a copy of the deed. Some offices have online services.

Easements

To determine if their are any utilities easements you can contact the utility companies; electric, gas, and telephone. A survey will also show utility easements. You can find property easements on file at the local assessor’s office.

Access to Utilities

To confirm if you have access to city water or sewage, contact the city’s utility department. You can find information about utility access for land in Gatlinburg here. If you do not have access to city water or sewage, you will need to have a septic system installed and a well drilled to develop your land. We found this website to be a great resource for understanding the process of having a well installed. To install a septic system you must complete environmental testing.

Survey or Environmental Testing

You will need a survey to determine the definite parameters of the land you are purchasing. A survey will show utility easements. If you need to install a septic system a percolation test will be conducted.

Taxes

Here you will find explanation about how to figure your tax bill in Tennessee from the Comptroller of the Treasury. To determine your tax liability you will need the appraised value, assessment ratio, assessed value, and the tax rate for your area

We hope you found this information helpful as you consider purchasing land. Please, visit our website to find lots and land listed in Sevier County, TN! 

 

 

Check out the Smokies in the summer! Schools out, summer is in!

  “Summer afternoon—summer afternoon; to me those have always been the two most beautiful words in the English language.”

 Henry James Getemoji 

 

 

 

We know you are just as excited as we are that summer is finally here! There are so many things to do while you are visiting the Smokies in the summer. Here are a few of our recommendations!

Smokies in the Summer

Farmers Market

 Downtown Sevierville Farmer’s Market : Located at 148 Bruce Street every Friday morning through October. Here you will find locally sourced; produce, fresh breads, soaps, pottery,  and many other crafts.

 

 

Ripley's Aquarium of the Smokies

Expeditions Camps : Ripley’s Aquarium of the Smokies offers half-day adventures with their educational staff. Campers will enjoy story time, a scavenger hunt and crafts. Campers even get a chance to get up close and personal with fascinating animals!

 

2018 Dates
June 13th – Expedition: Tropical Trek
June 27th – Expedition: Searching for Sea Turtles
July 11th – Expedition: Playful Penguins

June

 Wears Valley Ranch Artisan Craft Sale : Wears Valley Ranch host its 3rd annual artisan craft sale. You will find vintage items, crafts, jewelry,  furniture, and pottery. Live music and ice cream! This even is under shelter and has free admission and parking.

 

July

Gatlinburg kicks off the first Independence Parade in Nation at 12:01AM on July 4th. The Parade begins at traffic light #1A on East Parkway, turns south on the Parkway at traffic light #3 and travels the length of downtown.

 

Gatlinburg 4th of July firework celebrations begins at 10PM. The best viewing area is between Traffic light #3 and #5.

 

Gatlinburg Craftmen’s Fair : The artisans not only make their art available for viewing and sale, but demonstrate their special talents and skills during this show. Tentative hours are 10 a.m. to 6 p.m. daily, 10 a.m. to 5 p.m. on Sundays.

 

 

“The willingness of America’s veterans to sacrifice for our country has earned them our lasting gratitude.” – Jeff Miller

 

The Jason White Team would like to take this opportunity to honor Memorial Day this coming weekend and to remember all of those who have served, fought for and died for our great country. 

 

 

Your service inspires us all and we thank you. This weekend we will be celebrating the lives of men and women who died serving in the U.S Military.  

Decoration Day was the first name for Memorial Day. Decoration Day  commemorated those who died while fighting in the Civil War.  By 1890 every former state of the Union had adopted it as an official holiday,  but was not officially recognized nationally until the 1970’s.  Waterloo, New York states claim to the official birthplace of Memorial Day. 

The Great Smoky Mountains host opportunities that will make this year’s Memorial Day Weekend one you won’t ever forget! While you are here take the time to explore the outdoors by; taking a hike in the park, enjoying a horseback ride, or visiting Dollywood’s Splash Country. Spend your evenings; dining at one of the many fabulous restaurants, putt-putt golf, or maybe a ride on the Smoky Mountain Wheel! Whatever you do this weekend, take the opportunity to sit back and enjoy life.

The Smoky Mountain Thunder Memorial Ride XVIII is taking place on Sunday, May 27th. Opening ceremonies begin at 10AM in front of the Sevier County Court House. 

As we remember those who gave it all for all of us, let us remember that a great part of the American Dream includes being able to realize your own dreams of home ownership. Home ownership offers many exciting opportunities for those seeking their own pursuits of life, liberty, and the pursuit of happiness. Please browse our Featured Properties, and see how The Jason White Team can help you realize your dreams of home ownership today!

 

Full Service Property Management Team

Interested in an investment property? Not sure what  management option is best for you?

Join us on a four part series while we discover the pros and cons of DIY management, flexible management solutions, and brick and mortar management options

 

Here’s a word from our friends at Homes Not Alone:

Like the idea of a vacation home for your personal use or as an overnight rental investment property? Making the decision to rent your property overnight or keep it for your own use can be challenging at times.

Using a local Full Service Property Management Team such as Smoky Mountain Homes Not Alone might be just the answer for you!  A company such as this caters to an owner’s needs and special requests for the management of their vacation home.  Offering local full service with flexibility eliminates many worries when the owner is away. The property inspections are scheduled with owner’s desires and finances in mind. In addition, they accommodate the overnight rental market by managing everything from taking reservations and payments, to handling cleaning, maintenance, and guest issues. This allows an owner to be as free from commitment as they choose. Some of the pros and cons of using a Full Service Property Management Team for overnight rentals are listed below.

Pros: 

• Full Service:  A Full Service Property Management Team takes all reservations, communicates with guests before, during, and after their visit to the property. They schedule and manage trusted cleaners and handle any maintenance issues with trusted local contractors. They advertise and market your property on trusted websites and handle all payments.

• Flexible:  Owner can be involved with the property maintenance or the Full Service Property Management Team can handle everything and let the owner enjoy their property when they come for a visit. The purpose of the Full Service Property Management Team is to keep the property up to the owner’s standards and for the Management Team to receive all 5 star ratings and great reviews which enhances the owner’s bottom line- profit!!

• Location:  Homes Not Alone is located in Sevier County. We know trustworthy local contractors that will look out for the owner’s best interest. Being local also helps to answer any guest questions about local activities and allows them to plan the perfect vacation.

Cons:

• Management Fees: There is a management fee percentage that is based on the nightly rental amount. This fee is very competitive with the market; the personal care that goes into the property is very much worth it. The Full Service Property Management Team includes in their fees a cleaning inspector that makes sure the property is professionally cleaned to their standards, checks on the property between guests to be sure all maintenance issues are being addressed, and handles all guests issues promptly so the guests stay is minimally interrupted if at all.

• Hands On:  The Full Service Property Management Team does best when they handle everything so the quality stays consistent for the owner as well as the guests.

Full Service Property Management may not be for everyone. It is for the owner that wants an investment property to enjoy for themselves or strictly as an investment.  Full Service Property Management takes the stress away from owning an investment property or private vacation home.

 

 

Full Service Brick and Mortar Property Management Service

 Interested in an investment property? Not sure what  management option is best for you?

Join us on a four part series while we discover the pros and cons of DIY management, flexible management solutions, and brick and mortar management options. 

 

 

 

Welcome to the third part of our property management series. This week we will discuss a full service brick and mortar property management service. Listed below are many perks and a few obstacles that come with full service brick and mortar property management. 

Pros

  • Full Service Office – In-house customer service, reservation, and maintenance departments all work to facilitate the needs of you and your property. 
  • Local Knowledge – The customer service and reservation departments are staffed with locals who know and love the area.
  • Guidance – Management and maintenance departments provide guidance for making decisions about potential upgrades and remodels to your home. 
  • Assurance –  You have assurance that safety regulations are met and upheld. A full service brick and mortar property management service will routinely check on equipment such as; fire places, fire extinguishers, smoke detectors, deck and hand rails, and steps.
  • Personal Connections – You will come to know and have a connection with the staff that manages your property.

Cons

  • Management Fees – You will pay a higher management fee due to the full service that is provided to you and your property. 
  • Management Discretion – Your property must remain within parameters set by the management company to continue to be on rental program.

Full service brick and mortar property management provides the comfort of knowing your vacation home is being properly maintained and marketed. This is a wonderful option for owners not within reach of their property and who are looking for a less time consuming property management service. This may not be the best option for owners who wish to be involved in assisting their guest while in-house. The magical thing about property management is that there is a solution for everyone!

 

Special shout out to Chalet Village’s wonderful staff for collaborating on this information.