Are Homes In Gatlinburg Currently An Unbelievable Buy?

Mountain homes across the East Tennessee Smokies have been attractive investments for many years. A recent article through the National Association of Realtors cites some evidence that the U.S. housing market could recover in 2012. Everyone knows that 2011 was a tough year for our country’s housing market. The market has been struggling to find a bottom and build some momentum for most of this year. However, there are forces building that will eventually propel sales and improve prices. NAR Chief Economist Lawrence Yun thinks 2012 will show improvement. Currently the Chief Economist feels restrictive mortgage credit conditions are keeping home sales low. In addition, confidence among consumers has been uncertain. These major factors are holding the market back. When new jobs begin to increase an escalating buyer confidence will emerge. Demand will be driven by the increase in human population growth.

If we see the economic improvements in 2012 inventories of homes should decline aided by weak new home construction. The decline in home inventory would stabilize prices and perhaps drive them higher. Mortgage interest rates are also currently projected to move up in 2012.

None of the 2012 improvements are guaranteed to occur. However, our year-end market in 2011 has good factors for home buyers. First, prices are well off of their highs and the inventory of properties for sale is abundant. Second, for qualified buyers, mortgage interest rates are close to historical lows. In addition, many foreclosures and other distressed properties are forcing prices down. When market forces change and buyer confidence rises, demand will lower inventory and prices will rise. If real estate is in your plans go on our website and begin your search at home. When you narrow your possible residences to purchase, call and set up an appointment with our team of professionals. Everything we do is geared to find you the Smoky Mountain home of your dreams. Call today!

Here are a few of my featured listings:

 

Wonderful Family Home/Fenced Yard!!
Great family home with additional space for possible, media room, in-laws quarters, or teenage paradise. 2 car garage, fenced back yard, and close to Knoxville or Sevierville.
Type: Single Family Home
Location: Sevierville,TN
Price: $269,900
Get more information >
Mountain Streams/View/Private Home
Fantastic creekside location on 1.84 acres in beautiful Pittman Center. Enjoy the ridge top views and private mountain stream from this log cabin. If privacy is what you want this is it. Even a level driveway and easy parking. Comm swimming pool access.
Type: Single Family Home
Location: Pittman Center
Price: $299,900
Get more information >
Sky Walk To Balcony & Mountain Views
Want a great investment property? Then this is it! Already on a rental program and has a great rental history. Recently updated, offers private bedroom suites, and has a sky walk to balcony and mountain views.
Type: Single Family Home
Location: Chalet Village
Price: $229,900
Get more information >

 

Homes For Sale In Gatlinburg & Other Select Areas Are Selling

 

Our month end look at Smoky Mountain homes continues to reveal areas of strength. We work to give our blog readers helpful material. The Great Smoky Mountains Association of Realtors published their month totals of residential sales through the end of October 2011. The GSMAR data we use is year to date and it compares this year to the same timeframe for last year. As we mentioned in earlier blogs, some areas in GSMAR are outperforming last year by significant margins. Given our current national property market this is great news.

 In the category of Total Residences Sold, this year lags 2010 (1,343) by 114 residences sold or 8% lower in 2011.

Total Residential Dollar Volume Sold was also lower in 2011. 2010 had $224,584,192 or 11% more.

The average 2011 residential sale was close to the 2010 average at  3% or $4,996 lower.

In the last category of Active Listings, 2011 leads 2010 by 572. This 9% gain over 2010 leaves 2011 with 6,628 active listings.

Our local market within GSMAR is reasonably healthy. The change from last year is 11% or less in most categories. This could be a great time for some of our blog readers to pick up some great property. Sale inventory is up and mortgage rates are still very low. Kick things around and begin looking online. You can shop discreetly from your own home. Our team of professionals is ready to assist in many ways to help secure your dream property. Call us today to get started.

Here are a few of my featured listings:

 

Active Location for Office/Residential!
Great, busy location ideal for commercial office site. Has a separate entrance for lower level so could be used for two businesses or in-law quarters if used for residential.
Type: Office
Location: Sevierville,TN
Price: $329,900
Get more information >

 

Fantastic Rental Property/Mtn View
Fantastic rental income in 2010- $94,303!! Outstanding view of Mt LeConte in Smokies, with 5 master suites, media room, close to Gatlinburg, ski resort and National Park! Fully furnished!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $699,900
Get more information >

 

WHAT A BARGAIN! JUST REDUCED AGAIN!!!
Formal, custom built home on a very nice and private corner lot in beautiful neighborhood of Belle Meadows. Close to hospital and all the amenities that Sevierville has to offer.
Type: Single Family Home
Location: Sevierville,TN
Price: $269,900
Get more information >

 

 

Have you considered your Gatlinburg Home for Sale?

There can be challenges for selling mountain homes or other real estate.  This week’s blog will share 7 tips for a better home closing.  The source for this material came    through the National Association of Realtors.  This valuable Trade Association shares money saving tips that benefit both buyers and sellers.  Through the years, the NAR has seen people lose out on potential savings because they felt they were done in the property sales process.  Often the entire process of selling one home and buying another can leave one baffled by all the steps that are required.  These following 7 tips could save you additional money at closing time.

Tip #1: Avoid potential hassles by contacting all utility and service providers for; shut off, or transfer to your new address on the official closing date.  Make sure automatic scheduling of; fuel oil, propane, or other items is not an unintended gift for the new buyers of your old home.  Also be sure your home insurance ends at closing, and refunds of any prepaid premium are paid to you.

Tip #2: Notify important contacts of your change of address, in advance of the closing date.  Typically you file post office changes of address paperwork, 2-4 weeks before closing.  Obviously, credit card companies, subscription personnel of publications, brokers and financial institutions, as well as friends and families should be informed of the date of the change and new address.

Tip #3: Allow enough time to select a good moving company.  If your move is long distance, evaluate what should be moved.  Weight is a critical factor.  Also, contact your insurance agent to determine the extent of coverage, during the move.

Tip #4: Double check the math on your HUD-1 Settlement Statement, the day before the closing.  Everyone is human, mistakes can occur.  Make sure your statement is correct.

Tip #5: Along with #4 review all charges on your settlement statement.  Were all discounts or promises included? Were critical deal closers omitted?  Beware of statement omissions that could set you up for legal liability later on.

Tip #6: Make sure the settlement company credits you for prepaid expenses.  These may include; property taxes, homeowner association fees, partial tanks of fuel, etc.

Tip #7; Check all accounts to be sure none of your money is being held in escrow.  It is best to get your money right away, rather than to forget about it, or have it lose value over time.

Here at the Jason White Team, we have enjoyed much success because of our great clientele.  In return, we do everything possible to help and empower our clients. From our customer geared website with it’s market oriented blogs, to our experienced personnel, we work at giving you a rewarding win/win experience in real estate.  As a buyer or seller, we earn your respect one property transaction at a time.  Contact us today, at 877-678-2121 and let us assist you in achieving your real estate goals.

Here are a Few of My Current Listings:

Two Master Suites/Spectacular Mtn View
Two master suites with spectacular mountain views of the Great Smoky Mountains and Ober Gatlinburg Ski Resort. Fully furnished for immediate enjoyment of this beautifully decorated chalet. Great for permanent residence or rental.
Type: Single Family Home
Location: Chalet Village
Price: $239,900
Get more information >
Fully Furnished and Ready for Rental
Great deal on a three level home that is fully furnished. Large bonus room that could be a theatre/bonus room.
Type: Single Family Home
Location: Chalet Village
Price: $179,900
Get more information >
Update w/ Spectacular Views of Mountains
This updated, meticulously maintained home is a beauty! Enjoy the spectacular northern view of the mountains from a level yard on one of many decks.
Type: Single Family Home
Location:Gatlinburg ,Tennessee
Price: $219,900
Get more information >

A View of Gatlinburg Real Estate and Smoky Mountain Homes

Currently, East Tennessee’s Smoky Mountain real estate is still a great location for investment.  In this week’s blog, I want to share general trends in our current property market that make it a great place to buy or sell.  First off, the area is positioned in a beautiful, cental location.  Over 1/2 of the U.S. population lives in the eastern half of the country, within 10 hours drive of our mountains.  Our location makes for an easy car ride to visit the area.  Given current economic conditions, this is important.  In addition to a cental location, our area overflows with a natural beauty, that the earth’s creator lavished upon these mountains.  The awesome vistas are enhanced with a cornucopia of plants and animals, that add their interest into the mix.  On top of natural beauty, you add the man-made attractions that have multiplied over the years.  These amenities begin with outdoor-oriented fun like; camping, hiking, horse back riding, kayaking, and white water rafting.  They progress into amusement opportunities like: miniature golf, go carts, and thrill rides.  Then there are activities that offer simple enjoyment and relaxation.  These range from; simple to higher-end dining, hot-tubbing, boating, arts and crafts, shopping, dinner theaters, or rocking on a porch viewing the wonderous mountains.  The spectrum of the natural and man-made attractions in the Smokies are limited only by the participants.  In addition, our high elevation playground has been mostly uneffected by oil spills and hurricanes that wreak havoc on coastal, lowland locations.

Besides beauty and location, the Smokies never got crazy in the real estate bubble of recent years.  While the area’s property values increased, they never exploded like hot markets (Las Vegas).  Consequently, our properties are reasonably priced compared to other areas.  In addition to conservative values, buyers find prices off their highs.  Property taxes and other living costs are low compared to other parts of the country.

Financing of real estate has become tighter, as a consequence of preventing future real estate melt-downs.  However, qualified buyers with good credit will find mortgage rates at historic low levels.  Good financing, combined with a fine selection of properties, and stabilizing home prices could make this a great time to buy or sell real estate in the Smokies.  Start your property adventure on our user-friendly website.  When you need local, professional expertise that knows the area well, contact the Jason White Team online or by phone at 877-678-2121 and let us help you seal the deal.

Here are a Few of My Current Listings:

Nestled Among the Trees w/ Mtn View
This chalet is nestled among the trees with close access to area attractions, ski lodge, shopping and the Great Smoky Mountains National Park.
Type: Single Family Home
Location: Chalet Village
Price: $239,900
Get more information >
Spectacular Home w/ Spectacular Views!
This spectacular custom built home offers so many unique features. Waterfall shower off master bedroom private deck, atrium green house, and includes all furniture and furnishings. Plus plenty of level parking and only one step into the cabin.
Type: Single Family Home
Location: Chalet Village
Price: $379,900
Get more information >
Quality Built Home on Private Corner Lot
Formal,custom built home on a very nice and private corner lot in beautiful neighborhood of Belle Meadows. Close to hospital and all the amenities that Sevierville has to offer.
Type: Single Family Home
Location: Sevierville,TN
Price: $297,000
Get more information >

Navigating the Minefields of Today’s “Distressed Property” Market

Today’s real estate market participant needs to be savvy to the wide variety of terms used to describe “financially distressed” real estate in the U.S.  As buyer or seller, there are legal steps for disposing or acquiring certain types of  “distressed real estate”.  Sellers of  “distressed property” can have their credit score adversely impacted, depending upon the type of liquidation process that is used on their property.  With all this being said, deeply-discounted property from; foreclosures, short sales, etc, helped drive the 2009 real estate market in the U.S.  This was especially powerful, when combined with federal tax credits geared to motivate new and repeat homebuyers to enter the market.  The impact of these “financially distressed” properties may be a significant part of our country’s real estate picture for some time into the future.

For these reasons, I feel this week’s blog/newsletter should kick off an examination of the various terms used for “distressed property” in today’s realty arena.  Please be aware that laws governing “distressed property” and real estate in general vary from state to state.  There can be federal IRS tax consequences hidden in these “bargain properties” as well.  For the best advice possible, utilize a CPA and an attorney with real estate experience in the area that you are buying or selling real estate.  The Jason White Team can refer you to professionals in East Tennessee’s Smokies that can assist with complex property issues on a sale or purchase here.  In order to keep this blog/newsletter reasonable in length, look for the upcoming examination and definition of “financially distressed properties” like foreclosure and short sale in my website, www.smokymountainlifestyle.com,  under the categories of; “For the Buyer” and “For the Seller” across the top of my home page. This project should be complete within the next week or so.

Here are a Couple of My Latest Listings: (These are not foreclosures or short sales!)

Update w/ Spectacular Views of Mountains
This updated, meticulously maintained home is a beauty! Enjoy the spectacular northern view of the mountains from a level yard on one of many decks.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $248,500
Get more information >
Up Close and Personal w/ Mt LeConte
Level yard and totally updated with panoramic views of Mt. LeConte and Gatlinburg’s city lights. Excellent location-close to downtown Gatlinburg and all the amenities!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $239,900