Real Estate Blossoms like Spring Flowers

Posted by Gatlin on

On several occasions, I said that home sales and real estate track Mother Nature. When the weather is cold and inhospitable, most people stay home and leave property searches for nicer weather.  Here in the Smokies, it feels like we jumped from winter straight into summer.  Temperatures have recently soared into the 80’s, dropping back soon to more seasonal weather patterns. However, springtime has arrived in an ever-increasing splash of color.  Early bloomers are in full array and the next wave of flowers is beginning to show themselves.  Just like the forces of nature, home buyers are coming out in greater numbers as springtime brings better weather.

Our Great Smoky Mountains Association of Realtor sales data is revealing this trend.  Number of residences sold is up 15% over the same period last year.

Dollar volume sold is off 6% from last year, or down $1,293,479.00.

The average price per residence sold is $173,547.00, and is lower than last year by 18% or $38,398.

The quantity of active listings is up 15% over last year, with a total of $3,854 listings.

From my perspective, this data shows that the tax stimulus for new homebuyers is working.  New homebuyers and discounted foreclosures are still a dominant aspect of today’s real estate market.  It will be interesting to see if the housing market keeps up this momentum as the tax incentives drop off at the end of April in 2010.  However, there are still favorable conditions in today’s real estate market for both buyers and sellers.  Qualified buyers can still obtain historically low mortgage interest rates for financing. 

Today’s online property searches make it easy to prescreen with your personal search criteria, so you save time and money in viewing property to buy. Here at the Jason White Team, we cater to your needs.  Our website is designed for our clients’ ease in finding their property. We back all our web technology with years of personal realtor; professionalism, expertise, and knowledge of the area.  Contact us today to get started finding your dream property.

Here are a Couple of My Latest Listings:

2.42 Acre Rocky Creek Frontage!
Level building site with beautiful rocky creek frontage. Only 1.5 miles to downtown Gatlinburg and southern exposure!
Type: Land
Location: Gatlinburg ,Tennessee
Price: $150,000
Get more information >
Fantastic Mountain Views and Private!
The private location and awesome mountain views make this home a winner. It is on a level lot with level parking and side yard, 3 mi to Gatlinburg so close to everything, open floor plan with 4 master suites which is always desirable for privacy and space
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $419,900
Get more information >

Let Old Man Winter Fade Into Memory As You Embrace Our Smoky Mountain Springfest

Posted by Gatlin on

 

Spring Flowers

It seems that everyone I talk to, has a story to tell of an unusually cold winter that is still gripping parts of our country. Despite the duration of cold temperatures, that combined with a prolific variety of precipitation, winter is slowly giving way to spring.  If you desire an escape into spring,  join us for the Smoky Mountain Springfest.  This three month celebration has already started, but Mother Nature is just beginning to participate.  Springfest continues into the second week of June and is focused upon Gatlinburg and neighboring communities in the East Tennessee Smokies.  Visitors will find city streets loaded with baskets of beautiful blooming flowers and plants.  Now the forces of nature are joining in to amp up the festivities.  The daffodils and tulips are bursting into spring glory and are supported by the early blooming trees and shrubs.  Quince, forsythias, Bradford Pears, and Star Magnolias are coming into flower.

As the season progresses, the wild flowers and dogwoods join with Eastern Redbuds to color in the oncoming green of our woodland forests.  For the upcoming Easter weekend, weather looks sunny and quite warm.  Area churchs welcome visitors to services throughout the Smokies.  Gatlinburg will have their annual Easter morning Sunrise Service at Ober Gatlinburg set among the splendor of the Great Smoky Mountains. The Great Smoky Arts & Crafts Community has their annual Easter show from March 31st through April 3rd. 

The warmer weather also heralds a new season of great southern barbeque.  April 22nd will be a date for Gatlinburg’s Ribfest & Wings.  Vendors from all over the Southeast will tempt you with their secret receipes for ribs and wings as the sweet scent of hickory smoke perfumes the air.  Simultaneiously, from April 21st through April 25th you can join in the 60th Annual Spring Wildflower Pilgrimage and Greener Living Expo.  This event offers nature hikes of varying degrees of physical challenge that allow you to explore plants and wildflowers of the Great Smoky Mountains.  There are classroom lectures and automobile excursions that compliment the hikes. 

May’s entries in the Springfest includes, Gatlinburg’s Scottish Highland Games and Festivals May 14th through 16th.  Scottish games, bagpipe music, dancing, and food, combine with a parade to create a great time.  This event shares center stage with Gatlinburg’s Fine Arts Festival on May 15h & 16th.  Both events are family oriented with activities and food for everyone.  You can find details of the Fine Arts Festival in one of my earlier blogs or by visiting http://www.gfaf.net/.  My wife Jessica Weiss will have a booth displaying her custom jewelry.

If you are really looking to extend your fun in the Tennessee Smokies and have some incentives to visit often, consider buying real estate in the area.  We have a multitude of options from; rental cabins, to primary, and secondary homes. Whatever you desire in mountian property, we can most likely supply.  Currently, there are tax incentives that expire the end of April for  home buyers, and low mortgage rates that will probably increase throughout the year.  Now is a good time to purchase from many perspectives.  Our website is an ideal location to begin your property search.  You can select your parameters for selection and set up a filter that brings in time-saving possibilities that match your criteria.  Log on our website or call the Jason White Team today 877-678-2121 and get high-ranked realty professionals to assist in your property search. 

Here are a Couple of  My Current Listings:

Spectacular Smoky Mountain View!!
Unique opportunity to own a lot like this! Spectacular mountain and city view, with level building site.
Type: Land
Location: Gatlinburg ,Tennessee
Price: $125,000
Get more information >
Gorgeous Mountain Views and Private!
This totally secluded log cabin has incredible mountain views and lots of space. The unfinished basement/garage has hugh potential to become an extra living area.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $149,900
Get more information >

U.S. Home Sales in February Show Mixed Results

Posted by Gatlin on

In an earlier blog, I mentioned how late winter and early spring home sales are driven as much by weather as they are by economic conditions.  This theme is repeated as we examine final tallies in February Existing-Home Sales.   My source for this material comes out of the National Association of Realtors, in Washington, D.C.  The March 23rd news flash reports that overall existing-home sales declined slightly in February 2010.  The only regions of small gains were in the Northeast and Midwest.  Existing-home sales include; single family homes, townhouses, co-ops, and condominiums.  February’s figures slipped less than 1% off January’s 5.05 million figure.  The good news is that February 2010 is 7.0% higher than February 2009.  Lawrence Yun, NAR’s chief economist, feels that winter storms were the contributing factor for the lower sales.  People are unable to view property and close deals when forces of nature make travel, next to impossible.  Yun feels the market is currently still in recovery and could be fragile.  The chief economist expects that a wave of buyers will jump into the market to beat the April 30th deadline for the homebuyer tax credit.  This activity should drop home inventory levels enough, to stabilize home prices.

The article went on to review other data, but there was also good advice from Vicki Cox Golder, NAR President that could apply to some of my blog readers.  NAR’s President stressed that the April 30th, 2010 deadline is rapidly approaching for the end of tax credit.  With up to $8,000 at stake for qualifying buyers, there is no time to waste.  For most home buyers, the process from looking at homes to inking their signature on a contract takes several months.  This process can naturally be reduced in time duration if various pre-work is out of the way.  First, determine your maximum price limits.  Meet with your financial people and become pre-approved if a mortgage is needed.  Second, determine what type of property you need and what will best serve you some years from now.   Third, determine where in an area you need to be.  Do you require being close to a city’s ammenities or do you prefer to be out in nature away from it all?  Taking the time to sort out these details and requirements saves tons of time for you, and people you rely upon in your property acquisition process. 

Here, at the Jason White Team, we gear our website to assist you in this property decision process.  We make the East Tennessee real estate market only a series of keystrokes away.  We also simplify the refinement process by allowing you to set up a filter of your own parameters.  This only lets in properties that meet your specifications.  Contact us online or by phone (877) 678-2121 to get things started today!

Here are a Few of My Lastest Listings:

Take tram to Gatlinburg from this home!
Walk to Ober Gatlinburg Ski Resort or Community Pool. Updated, private and mountain views! Great investment property or personal home!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $159,900
Get more information >
Upscale Neighborhood-Authentic Log Cabin
This authentic log home is located in an upscale neighborhood and is in excellent condition. Bedroom/Bath on each floor for privacy as well as a large gameroom for your enjoyment.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $249,900
Get more information >
Fantastic Home on Private 4.72 Acres
Amazing home with fantastic floor plan and incredible quality. Office, mud room, bonus room that could be in-law quarters with lots of storage and full bath, playroom, theater room, 3 car heated garage, and lots of composite decking to enjoy the 4.72 acre
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $699,900
Get more information >

Call us today to view any of these homes! 877-678-2121  Ask for Jason White or Stephanie Huskey!

Never Underestimate Mother Nature

Posted by Gatlin on

The U.S. real estate market in recent months has closely tracked our country’s weather patterns.  An exceptionally cold winter with ample precipitation tends to discourage leaving a warm house.  The past winter was a classic example of how humanity is still at the mercy of the forces of nature.  The federal government in Washington DC even shut down as some tenacious “Northeasters” dumped heavy snow on the nation’s capital.  All this cold weather and precipitation ranging from; flooding, monsoon-style rains, to freezing varieties like record snow fall has gripped most of our nation, off and on for the past several months.  The consequence of these challenging weather patterns has been a slow down in shopping for real estate.  The extreme weather has impacted recent trends in the Homebuilder Sentiment Index for March.  Even my realty news sources at the National Association of Realtors echo this same idea.  

NAR’s chief economist, Lawrence Yun addresses the issue of an abnormally severe and pro-longed winter on real estate shopping across the U.S. in his March 4th, 2010 report.  Yun explains that abnormal activity must be anticipated in all markets. However, the real estate arena still has pent-up demand from buyers looking to utilize the homebuyer tax credit.  With the weather improving, buyers are expected to use the tax stimulus and the first half of 2010 should be strong. 

Here in the Smokies, my team and I are seeing a growing number of buyers coming to look for property.  Old man winter is slowly releasing his icy grip on the weather.  Each weekend seems to build with additional people coming into the area.  Spring bulbs are popping up everywhere and in warm locations the daffodils are starting their bloom.  It will be a little bit before the trees flower, but it is coming.  If you are thinking about buying property in the Smokies in 2010, contact us on the web or by phone- 865-436-2121. We want to give each client the time they need and weekends sometimes can get busy.  Help us pre-plan for your arrival.  There are many ways to facilitate this process; you can pre-screen properties on our website and meet with your lenders to become pre-approved for financing. Our website allows you to create a screening filter set from your own personal wants and needs in selecting a property.  Contact us at the Jason White Team to get started today on finding your property in the Great Smoky Mountains.

Here are a Couple of My Latest Listings:

Easy Access and Great for Large Groups
Three level chalet with big rooms and cathedral ceilings to accomodate that large group or family reunion. Bring the mountain views and outdoors in with all the glass windows. Fun awaits you with a gameroom and 3 levels of decks with hot tub.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $259,900
Get more information >
Fantastic Views of Mt LeConte!!
Enjoy the fantastic views of Mt LeConte and the tram from the spacious decking of this nicely decorated cabin. Each bedroom has in suite baths as well. This is a must see!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $249,900
Get more information >

Mark Your Calendar To Be In Gatlinburg on May 15th & 16th, 2010

Posted by Gatlin on

Gatlinburg Fine Arts Festival

As real estate momentarily pauses before the usual spring/summer explosion of activity, I wanted to allow you time in scheduling some fun.  This mid-May event is the Sixth Annual Gatlinburg Fine Arts Festival.  The celebration promises to be a great event.  Our weather and the local landscape should be bursting with the warmth and beauty of springtime by the middle of May.  Set up as a two day street fair, there should be something available to accommodate all participants.

For serious art lovers, there will be an evening event on May 14th.  This “Night with the Artist Party” before the street fair is $50 per person and will be held at Mills Auditorium. However, the $50 fee is returned to donors as a money voucher redeemable at any of the participating artists’ booths during the weekend.  Admission to the festival on May 15th & 16th is free.

The 2010 festival will be held at Ripley’s Aquarium and River Road, providing a backdrop of the Great Smoky Mountains and downtown Gatlinburg to the various artistic displays.  Attendance at the festival assists in fund raising for; Arrowmont School of Arts & Crafts, the Sevier County Arts Council, and the Gatlinburg Boys & Girls Club art program. This festival is unique, because artists who showcase their work must be selected by a panel of judges.  There are 16 categories of art that run the spectrum from; glass, to watercolor, and woodworking.  For participating artists, it is an honor to be chosen.  It gives me great delight to announce that my wife Jessica Weiss was selected as one of this year’s artists.  She will be showing various pieces of jewelry from her creations.

While art is the festival’s primary focus, there will also be; fantastic food, great music, and enjoyable entertainment.  The new 2010 acts of Gatlinburg Tunes and Tales will debut throughout the festival, and a great children’s activity program will be available.  If you enjoy fine arts and crafts from across the country, selected to be among the” best of the best”, join me and my wife with a host of fun art lovers, for a fantastic time here in the Smokies on May 15th and 16th.

If you would like to visit Jessica’s store in Knoxville the address is:  

Jessica Weiss Jewelry & Studio
The Shops at Bearden Place
5805 Kingston Pike
Knoxville, TN 37919
865-588-0801
Website: http://www.jessicaweissjewelry.com
Business hours: Tues-Fri            10:00am – 5:30pm
                                 Saturday           11:00am – 5:30pm

Here are a Couple 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 >
Extra Large Private Lot w/Great View
This updated, immaculately maintained home is a must see! The spacious decking overlooks the beautiful mountain views as well as the extra large lot that is well manicured. The community pool and club house amenities are a bonus.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $199,900
Get more information >

Data From the Great Smoky Mountains Association of Realtors Reveals Our Current Rebound

Posted by Gatlin on

The primary function of my blogs and newsletters is to help educate my readers on real estate market conditions. I like my readership to be savvy to current real estate trends. When a good opportunity appears, readers can then move with confidence to acquire or sell their property. I utilize many sources to track the realty markets, but today we will review information from GSMAR. This local Great Smoky Mountain Association of Realtors tool gives us a focused look at all facets of Smokies real estate.

Today’s look compares Smokies residential sales for February 2010 vs February of 2009. In total residences sold, 2010 has 107 with 2009 at 74. The current year’s February, leads 2009 with 33 more residences sold (a  45% increase).

Quantity of homes sold   

Dollar volume sold for February 2010 is $20,591,043 vs February 2009 at $12,444,120. This is a 2010 increase of $8,146,923 or a 65% improvement over February 2009.

 Dollar volume sold

 In comparing the average residential sale for February 2010 to February 2009, our current year wins out 2010 is $192,440 vs 2009 at $168,164. 2010’s average sale is 14% higher or $24,276 larger than 2009.

 Average sale price

 Comparing the category of active listings February of 2010 is again superior. February 2010 has 3,779 listings, with February 2009 at 3,260. This shows an improvement of 16% or 519 more active listings for our current year’s February over the last.

 Quantity of active homes

Clearly there is robust improvement in this year’s residential sales for February, compared to the same time period in 2009. Units sold are up, sold dollar volume increased, average residence price sold increased, and active listings are higher. This data is certainly worth celebrating. However, I would advise my readers to be cautious. Some of this recovery is government driven, courtesy of the homebuyer stimulus tax credits. With that being said, there are still many factors that make this a favorable time to purchase or sell real estate in the Smokies. First, the tax credit for new homebuyers and repeat buyers is good through April 30th, 2010, and the purchase must be finalized by June 30th 2010 to qualify. Second, mortgage interest rates for qualified buyers are very low. Third, prices are stabilizing in many areas. It could be a time to lock in lower prices before they climb. In addition there are a lot of active listings, for a good selection of properties. Today’s data indicates that higher priced residences may be selling, with the average residence price increasing over February of 2009.

The uncertainties in the worlds stock markets, world currencies, and other investments, could make real estate a good asset in your personal portfolio. To get started on the path of Smokies real estate, contact the professionals on the Jason White Team today! You can reach us online or by phone to commence your property quest within a time frame that meets your personal requirements.

Here are a Couple of My Current Listings:

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 >
Short Sale’ Great Location!!
This conveniently located home is within walking distance of Community Center, Mills Park, schools, and Gatlinburg shopping and dining. Lovely wooded setting and nice furnishings.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $179,900
Get more information >
  Call us today for more information or to view these properties! Call Jason or Stephanie at 865-436-2121.
 

United States Existing Home Sales Show Continued Improvement

Posted by Gatlin on

 

Existing Home Sold
Existing Homes Sold

My sources in Washington, DC have finished their number crunching on fourth quarter U.S. existing-home sales. The data out of the National Association of Realtors shows favorable results. Fourty-eight states plus  D.C.  had sales  increases from the third through the fourth quarter of 2009. Thirty-two of these states saw double-digit gains. Furthermore, the District of Colombia and 49 states had higher year-over-year sales. In year-over-year sales, only three states among the 49 lack double digit annual gains.  More analysis of 4th quarter information reveals almost one third of the quarter’s sales was in financially-distressed property. The influence of these discounted properties may be a major contribution to the 4.1% decrease in the national median price of an existing single family home. However, this decline was the smallest price decrease for homes in over 2 years. The current national median price on an existing home in the U.S. stands at $172,900.

NAR’s Chief economist, Lawrence Yun feels that home buyer stimulus from the tax credit is fueling the improving conditions. Another factor bringing buyers into the housing market is the record low mortgage interest rates. The influx of home buyers is lowering the inventory of property for sale. In turn, this assists in stabilizing home prices. The rapid turnover on foreclosures and deep-discounted real estate also helps in price stabilization, by removing their low price influence from the market. In addition, today’s home buyer appears more savy, after the recent challenges in real estate. Tighter qualifications are keeping buyers within their budgets, and buyers are avoiding adjustable-rate mortgages. The low rates on long term mortgages currently available,  should help in real estate’s recovery. Chief economist Yun and NAR President Vicki Cox Golder expect good results especially for the near-term, as buyers take advantage of the tax credit.

If you are considering the purchase or sale of real estate in the Tennessee Great Smoky Mountains, contact the Jason White Team immediately, to maximize the current market conditions. There is ample inventory for a great selection of property. The tax credit for new or repeat buyers will expire soon. Homes must be under contract by April 30, 2010 and finalized by June 30, 2010,  to be available for the tax incentive. Real estate prices especially on residential property seems to be stabilizing. This could be an opportunity to buy before prices climb. On a similar note, long-term fixed mortgage interest rates are low, and most predictions call for increases as 2010 rolls along. The year 2010 is starting out stronger and if real estate is on your agenda, contact us today, to begin fulfilling your property dream.

Here are a Couple of My Current Listings:

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 >
Spectacular Mtn Views & Unique Features!
This charming home offers a spectacular mountain view and really unique features.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $229,700
Get more information >

New York’s S&P/Case-Shiller Home Price Indices Show a Mixed Bag of Results

Posted by Gatlin on

Throughout my assessment of the current real estate market, I like some diversity in the analysis of data. Today’s blog will focus on information out of New York via Standard & Poor’s/Case-Shiller Home Price Indices. This index provides both seasonally adjusted and non-seasonally adjusted data that helps track the path of single family homes in 20 large metropolitan areas across the country. Most analysis requires a time lag to post and interpret the data. The figures we are viewing are from November of 2009. With S&P/C-SHP Index we can look at individual metro areas or view the index from a 10-city or a 20-city composite to assess trends in home pricing. The good news is that most markets are showing improvement. Home prices are off their peak, but the rate of decline has slowed. Some of the country’s best markets are entering positive territory for the first time in 2 years like; Dallas, Denver, San Diego, and San Francisco. On the flip side, markets in; Las Vegas, Charlotte, Seattle, and Tampa are putting in lower prices that may establish the bottom for higher values in the future.

February Index Results

All this information is interesting, but each of us must utilize it in some way that benefits our lives. For some, the figures show that extreme bubble-inflated real estate markets are still searching for a bottom. There also seems to be a trend that; upbeat, fun, climatically-favorable markets are among the first real estate markets to recover. For those of you considering the Great Smoky Mountains, as a place for real estate purchase or sale, this current data supports us. While this area of East Tennessee saw growth at the peak, we were not unrealistic like other markets. Our area is like many of the markets that are first to recover. The Smokies has a great location, we have fun amenities available, and our climate and scenery are beautiful. We are a top location for the eastern half of the nation. Contact the Jason White Team today, to secure your personal slice of paradise for; a primary residence, a vacation home, or an investment property.

Now is a great time to view vacant land!!  Here are a few of my outstanding current listings nestled in the upscale neighborhood of Riversong:

Private-Close to Gatlinburg/Pigeon Forge
This private upscale subdivision has a common access to boulder strewn river for swimming and fishing. This lot can be built on the downside allowing for sloping drive.
Type: Land
Location: Sevierville,TN
Price: $54,900
Get more information >
Upscale Neighborhood-Close to Smoky Mtns
This property is convenient to Gatlinburg, Pigeon Forge and Sevierville but in a private, serene, wooded, upscale, subdivision which offers common access to the river for swimming and fishing.
Type: Land
Location: Sevierville,TN
Price: $64,900
Get more information >
One Mile to Great Smoky Nat’l Park!
This private lot is gently rolling, mountainous and wooded. Located in the upscale subdivision of Riversong which offers common access to the river for swimming or fishing and is centrally located for convenience.
Type: Land
Location: Sevierville,TN
Price: $64,900
Get more information >
Exclusive Home Site w/Mountain View
This level road access property offers a exclusive home site in a private, serene, wooded environment with mountain view.
Type: Land
Location: Sevierville,TN
Price: $54,900
Get more information >
Two Mtn Lots/ Serene/Wooded /Sevierville
Two lots combined in subdivision to make one fantastic private lot with no close neighbors and common area access to the river for swimming and fishing.
Type: Land
Location: Sevierville,TN
Price: $74,900
Get

Pending Home Sales Show Improvement and Stabilization

Posted by Gatlin on

My news sources out of the National Association of Realtors in Washington, DC, show improvement continues in pending home sales. For new readers, the Pending Home Sales Index is a tool for measuring U.S. residential sales. A pending home sale is a home under a written contract, but not officially closed. Usually, these pending sales officially close within 1-2 months.

This index uses a level of 100 to be equal to the average home contract activity of 2001. This was year one in utilizing the “PHSI” and it was the first of five back-to-back record years, in existing-home sales. NAR’s data on the “Index” figures, combined with comments from Lawrence Yun, confirmed my views on recent Smokies’ home sales. Mr. Yun is NAR’s chief economist and his comments are valuable in understanding U.S. real estate trends. The chief economist feels last year’s home market responded to the homebuyer tax credit stimulus. We saw robust activity in the Smokies and across the U.S. as the homebuyer stimulus approached it’s deadline. Congress later renewed and expanded the homebuyer tax credit for qualified buyers, to get new homes under contract by April 30, 2010. Buyers have until June 30th, 2010 to finalize their contracts and be eligible for the tax credit. In retrospect, last year’s home market was driven by lower-end new home sales and by deep-discount foreclosures. Sales reached a crescendo with the deadline of the home buyer stimulus. Activity plummited with the end of the first tax credit.

However, the expanded extension of the homebuyer tax credit is slowly rebuilding a momentum that will likely peak in April of this year, and then possibly back off. The analysis of monthly raw data always lags current activity, but here is the latest PHSI data. November of 2009 dropped 16.4% from its upward trend in previous months to an index reading of 95.6. Then December of 2009 increased 1% to an index of 96.6. This gain is most likely stimulus-driven, but it remains 10.9% above December of 2008.

Feb. Index

 A quick look at this material indicates a home buying market that was government-driven. However, a deeper focus reveals some positive indicators. The underlying trend seems to be a firming in price stability and a gradual improvement in overall home buyer sentiment. The downturn in new home construction is not building the inventory of homes for sale. The current lack of a good safe haven for people’s savings combine with uncertainty over the future of the U.S. dollar. This makes real estate attractive as an investment. Market demand for low priced homes and discounted foreclosures removes their lingering influence from forcing home values lower, thus allowing prices to stabilize.

Today’s real estate buyer or seller faces uncertainty across a global economy. At some point each individual must decide for themselves what is best. Here in the Smokies, we have; location, climate, and natural beauty in our favor. Currently, mortgage rates are near historic lows, and there is a good inventory of property for sale. If you are buying or selling real estate in Tennessee’s Great Smoky Mountains, enlist a professional with a great track record. Please contact me, Jason White, at the  Jason White Team today to get started on your goal.

                                  Here are a Couple of My Latest Listings:

Mt LeConte Views from Gatlinburg Home!!
Custom built,many hand crafted features,gourmet kitchen with Brazilian granite counter tops,plus huge master bedroom on the main level. Even a separate living quarter on lower level.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $598,700
Get more information >
Level Lot/ Walk to Club House,Ski Resort
This gently rolling property is convenient to everything. community pools, tennis courts, ski resort and tram to take you into town.
Type: Land
Location: Gatlinburg ,Tennessee
Price: $35,000
Get more information >

Late Winter Real Estate Mirrors our Smoky Mountain Bears

Posted by Gatlin on

Data just arrived for January 2010 home sales, provided by the Great Smoky Mountains Association of Realtors. The results remind me of our Appalachian black bears. Normally our East Tennessee bears are peacefully denned-up, sleeping soundly with their activity increasing with the arrival of spring.  They emerge from dens as nature once again commences growing its banquet of food. Following this timing, the bears increase their activity on a quest for calories  to carry them through these cold lean months of winter. There can always be exceptions to behavior in the animal kingdom or in real estate.  However, it was not unexpected that January 2010 residential sales are acting much like our well-known black bears.  Homesales are backing off, taking a break, before picking up their usual spring-induced activity just like our Smoky Mountain bears.

As we interpret January data from 2009 vs 2010 the strong influence of foreclosures and first-time homebuyers is evident. The total residences sold is up 3% in January 2010, with 77 sold, opposed to 75 sold in 2009.

Quantity of homes sold Jan 2009 vs 2010

Total dollar volume sold in January 2010 is off 8%, or $1,117,240.00 down from 2009’s $14,584,387 figure.

Dollar volume sold Jan 2009 vs 2010

The average sale in January 2010 is down 10% or $19,560.00 from 2009’s $194,458.00 average.

 Average sale price Jan 2009 vs 2010

In active listings, 2010 leads 2009 by 15% or 512 more, with 2010 leading at 3,866 listings.

Quantity of active homes Jan 2009 vs 2010

From previous blogs and newsletters, my readers were aware that new homebuyers and foreclosures dominated 2009’s home market. With the extended stimulus package in place through early 2010, these 2 aspects will more than likely continue for at least the early portion of 2010 as well.

If you are considering 2010 as a time to buy or sell property in the Smokies, the current environment is still favorable. Qualified buyers can obtain historically low interest rates on mortgages. Potential weakness in the dollar could make hard assets like real estate a good investment for the future. There are good opportunities to find your ideal property with the current inventory of active listings.

For sellers, well-priced properties at the lower end of the market are selling briskly. This allows one to sell less expensive homes and upgrade into more desireable residences. In either case of buying or selling real estate in the Smokies, contact a leader with a proven track record. Contact us today at The  Jason White Team , online or by phone, to get started on your property goals for 2010.

                           Here are a Couple of My Latest Listings:

1.3 acre w/ Spectacular Mountain Views
Quiet living on 1.3 acres with phenomenal MT Leconte and Smoky Mountain views and lots of level parking. 5 Private suites, with loft and game room located on cul-de-sac. Plus two huge decks to enjoy the incredible views of the mountains.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $449,000
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Exquisite Lofty Mountain Retreat!!
Detail and excellent craftsmanship throughout this lofty mountain home will please even the most discriminating buyer. Complete with an outdoor living space with fireplace that overlooks Mt. LeConte views.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $575,000
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