Heading Into September, The Smoky Mountain Real Estate Market Shows Continued, Steady Growth

Posted by Gatlin on September 5, 2013

For much of this year, we have seen both the national and local real estate markets continue to show steady growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through August of this year, we will see that these trends, particularly in this real estate market, largely continue. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing August 2013 to that of August 2012, the number of residences sold is unchanged, showing no increases or decreases at all. This shows and reflects a general steadiness in the real estate market, and as we look at the rest of the statistics, we will see that the market is still quite stable and we expect this to continue and improve.

In the category of Residential Dollar Volume for the year, we actually see an increase of 5% through August of this year, as opposed to through August in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices continue to show that a greater dollar volume in homes is being sold on the whole, continuing to show a gradual and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a gradual rise of 5% in August of this year versus that of August 2012, reflecting the recent local and national trends towards higher home prices. As inventory continues to decrease, we expect prices to continue their gradual increase, in line with both national and local trends.

In addition, available homes on the market continue to decline. Through August 2013, we see a slight decrease of 1%, or 33 less homes on the market. As activity continues to stabilize, along with the national and local trends of rising home prices, this number will likely continue to dwindle.

As markets continue this gradual trend of growth across the nation, home prices will continue their rise and housing inventory will continue to decrease. Mortgage rates still remain at historically low rates, and there are still plenty of housing options to choose from, especially in the Great Smoky Mountain real estate market. Why not start your Great Smoky Mountain home search now by visiting our website, browsing our available properties, and seeing what the Smoky Mountain area has to offer?

Here Are A Few of My Featured Listings:

Charming, Luxury Chalet w/Mtn. Views Charming, private luxury chalet located minutes from downtown Gatlinburg, as well as Ober Gatlinburg! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $229,900 Get more information >

Fantastic 180 Degree Smoky Mtn. Views Fantastic 180 degree view of Mt. LeConte & the Smokies from every room. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $479,900 Get more information >

Money To Be Made!!! Income potential with consistent rental history. $25,737 in 2009, $26,127 in 2010, $20,352 in 2011 & $22,956 in 2012. Don’t miss out on all these features! Type: Single Family Home Location: Chalet Village Price: $149,900 Get more information >

The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Dr
Gatlinburg, TN 37738
Toll Free: 877-678-2121
Fax: 865-436-7227
Email: jason@jasonwhiteteam.com
Website: www.SmokyMountainLifestyle.com

Total Existing Home Sales in July Nationally on the Rise

Posted by Gatlin on August 29, 2013

As a further sign of continued gradual growth in the housing market, the National Association of Realtors (NAR) recently announced that existing-home sales rose strongly in July, with the median price maintaining double-digit year-over-year increases.

According to the latest NAR report regarding July’s trends, total existing home sales increased 6.5 percent to a seasonally adjusted annual rate of 5.39 million in July from a downwardly revised 5.06 million in June, and are 17.2 percent above the 4.60 million-unit pace in July 2012; sales have remained above year-ago levels for 25 months.

In addition, Freddie Mac also recently indicated that the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.37 percent in July from 4.07 percent in June, and is the highest since July 2011 when it was 4.55 percent; the rate was 3.55 percent in July 2012.

Furthermore, the national median existing home price for all housing types was $213,500 in July, which is 13.7 percent above July 2012. This marks 17 consecutive months of year-over-year price increases, which last occurred from January 2005 to May 2006. Also, based on the NAR findings, Total housing inventory at the end of July rose 5.6 percent to 2.28 million existing homes available for sale, which represents a 5.1-month supply at the current sales pace, unchanged from June. Listed inventory is also now 5.0 percent below a year ago, when there was a 6.3-month supply.

Therefore, based on the findings of the NAR for July in 2013, we foresee that home prices will continue their gradual rise, in spite of recent interest rate increases, and that housing inventories continue to slowly decrease, thereby raising the home prices as demand remains steady or increases.

There are still many great deals on homes available in the Great Smoky Mountain market, and today is a good time to look for the many properties that are available right now. If you have thought about purchasing a property in the Great Smoky Mountain region, now is the time to start looking. We invite you to browse our available properties today, and see what our area has to offer for you.

Here Are A Few of My Featured Listings:

Unique Contemporary Home w/Mtn Views Come & enjoy this one of a kind, unique, contemporary home! This 5000+ sq ft, 4 BD/3 BA home is located just off the Parkway in Sevierville in a beautiful, private neighborhood! Type: Single Family Home Location: Sevierville,TN Price: $325,000 Get more information >

180 Degree City & Mountain Views Produced over $14k in rental income in 2012. Very private ridgetop retreat w/wraparound covered deck that has amazing 180 degree views of the mountains & city lights. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

Gone With The Wind Almost $27,000 income for 2012!! If you have dreamed of having a luxury chalet on top of the mountain with sweeping views of the valley, city and mountains then you have to look at this one. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

National Market and Consumer Trends Show Higher Home Prices and a Decrease in Housing Inventory

Posted by Gatlin on August 15, 2013

The recent national trends of higher home prices and decreasing housing inventory continued through the month of July. According to Realtor.com, the nation experienced a 5.24% decline in housing inventory, which is the second month in a row with year-over-year inventory declines in the single digits. In addition, this report also shows that national median home listing prices increased 5.27% year-over-year while the median age of housing inventory is down 16.67% nationally. This shows a continued trend of higher home prices, while also showing a decrease in both the amount and age of housing inventory nationally.

Furthermore, according to the latest Fannie Mae Monthly National Housing Survey for July, consumers expect home prices to climb 3.9% on average over the next 12 months, holding steady from the May and June survey results. Also, the share of survey respondents who say it is a good time to buy a house increased to 74%, while those surveyed indicating that it’s a good time to sell a house increased to 40%, matching the survey high.

According to Doug Duncan, who is a Senior Vice-President and Chief Economist for Fannie Mae, “expectations for continued improvement in housing persist, and sentiment toward the current buying and selling environment is back on track from its dip last month.” In addition, Mr. Duncan also stated that “these results are consistent with our own analysis of previous housing cycles, which finds that interest rates and home prices are not strongly correlated.”

On the whole, the national trends continue to reflect a slight decrease in housing inventory, while also showing a continued rise in home prices available on the market. In view of these trends, there are many great deals available for homes in the Great Smoky Mountain market today, and right now is a good time to look for the many properties that are still available. If you have recently thought about purchasing a property in the Smoky Mountain region, today is a good time to start looking. We invite you to browse our available properties, and see what the Smoky Mountain region has to offer.

Here Are A Few of My Featured Listings:

Picture Perfect Log Cabin Almost $25,000 in rental income for 2012! Well built log cabin with privacy and only 5 miles to Pigeon Forge. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $219,900 Get more information >

Enjoy Resort Living In The Mountains Great rental income: 2012 – $32,195 & 2011- $24,226.Private three bedroom, three bath log cabin with great mountain views from three decks. Type: Single Family Home Location: Pigeon Forge Price: $289,900 Get more information >

Come Be A Happy Bear Over $27,000 in gross rental income for 2012! This one will make you $$$. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $259,900 Get more information >

Home Prices on the Rise Nationally Show a Strengthening Housing Market

Posted by Gatlin on August 1, 2013

Over the last year, U.S. home prices have jumped 12.2% as of May of this year, from that of May of 2012, which represents the largest annual gain since March of 2006. In addition, to reflect this recent trend, the Standard & Poor’s/Case-Shiller 20-city home price index released on Tuesday surged 2.4% in May from that of April, all in 2013. Furthermore, these price increases were widespread, where all 20 cities measured by the S&P Index showed gains over a month’s time, from April to May in this year.

The S&P Index covers roughly half of all U.S. homes, and measures prices compared with those in January of 2000, along with creating a three-month moving average. The May index figures, as noted here, are the latest figures available. Despite a recent increase in mortgage rates, especially since early May, the figures noted by the S&P Index have not been significantly impacted, and still show a general trend towards rising home prices across the nation.

The factors behind these home price increases primarily center on more people bidding on a scarcer supply of home that are available for sale, indicating a shrinking housing inventory nationally. In addition, steady price increases, along with stable job gains and historically low mortgage rates, have encouraged more Americans to buy homes. Also, with higher home prices, more sellers are able to put their homes on the market, which creates greater supply and contributes to the ongoing gradual housing recovery that is now currently underway.

What does all of this mean? The national trends, as reflected by the recent S&P Index, show a steady growth in the housing market, and continued strength in home prices across the board. For both buyers and sellers, the market appears to be more receptive at the present time, and is showing gradual gains amidst an ongoing economic recovery.

There are still many great deals on homes available in the Great Smoky Mountain market, and right now is a good time to look for the many properties that are available right now. If you have thought about purchasing a property in the Great Smoky Mountain region, today is a good time to start looking. We invite you to browse our available properties that we have in the area.

Here Are A Few of My Featured Listings:

Beautiful Log Cabin w/Mtn. Views Brand new log cabin w/ 2 BD/2 BA, located just 2 mi. from the Downtown Gatlinburg Strip, & is w/in walking distance to the Gatlinburg Community Center. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $259,900 Get more information >

Unique Sevierville Home w/Large Backyard Beautiful, masonry-style, 3 BD/2.5 BA, 3700+ sq. ft. home located within minutes to Dollywood! Type: Single Family Home Location: Sevierville,TN Price: $339,900 Get more information >

Remodeled Condo w/Amazing Mtn Views This contemporary style 2BD/2BA home offers practically a bird’s eye view of the ski slopes at Ober Gatlinburg plus an unparalleled exhibit of the Great Smoky Mountains! Type: Condo Location: Gatlinburg,Tennessee Price: $209,900 Get more information >

The Jason White Team

Century 21 Four Seasons Realty

1441 Wiley Oakley Drive

Gatlinburg, TN 37738

Toll Free: 877-678-2121

Fax: 865-436-7227

Email: jason@jasonwhiteteam.com

Website: www.SmokyMountainLifestyle.com

Fed Seeking to Ease Recent Increase in Interest Rates

Posted by Gatlin on July 25, 2013

Federal Reserve officials recently expanded upon the latest comments by Fed Chairman Ben Bernanke, whose comments led a recent sudden spike in interest rates, including mortgage rates, which increased to the highest levels seen in nearly two years. The effects of this recent spike have led to potential increased borrowing costs for first-time and returning homebuyers, at a time when the housing market is showing slow, but steady, national growth.

Bernanke’s recent comments indicated that the Fed would reduce the amount of bond purchases that it has made since the 2008 economic downturn, along with keeping the benchmark interest rate down at all-time lows. However, according to William C. Dudley, President of the Federal Reserve Bank in New York, any increase in the Fed’s benchmark interest rate is “very likely to be a long way off,” and that any decision to reduce the pace of asset purchases wouldn’t represent a withdrawal of stimulus.

In fact, showing the reflectiveness of this recent rate spike, the average rate for a 30-year fixed mortgage recently rose to 4.46 percent from 3.93 percent, the biggest one-week increase since 1987, McLean, Virginia-based Freddie Mac said in a statement. The rate was the highest since July 2011 and above 4 percent for the first time since March 2012.

What does all of this mean? For the long-term housing market, especially for first-time and returning homebuyers, the Fed’s recent trend to consider a reduction of bond purchases and assets indicates a shift that may result in higher interest rates, including mortgage rates. While not immediate, the trends, as well as recent comments by the Fed, indicate that interest rates will go up in the long-term – it is just a matter of when and by how much.

Here Are A Few of My Featured Listings:

Beautiful & Spacious Home w/Amazing View Over $185,000 in rental income from 5/1/12-4/30/13. Self managed using VBRO.com eliminating big management fees and improving net income. Prepare to be impressed by the top quality construction and high end finish work. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $1,950,000 Get more information >

Beautiful Cedar Log Home w/Mtn View Beautiful, private, and well-maintained 4 BD/2.5 BA cedar log home located with Amazing Mountain and Natural views! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $589,000 Get more information >

The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: 877-678-2121
Fax: 865-436-7227
Email: jason@jasonwhiteteam.com
Website: www.SmokyMountainLifestyle.com

What If It Isn’t Perfect? Should You Buy That House?

Posted by Gatlin on August 23, 2012

As we watch prices rising in some areas, mortgage rates staying low and foreclosures being liquidated from the market it is a perfect environment for purchasing real estate. But what if you can’t find your dream home? Let’s take a look at a few things to consider if you are torn between buying now or waiting for the perfect property to come along.

The first thing to consider when you are thinking of entering the market is financing. It is crucially important to have your financial “ducks in a row” and a mortgage pre-approval in hand before starting to look at homes. In a previous article we explain in depth why this is so important but an additional reason is that you want to be able to make a move if you do find your dream home. As the market continues to improve houses are spending less time on the market and you will not want financing to be the only thing standing between you and your new home.

Next, make a list of your “must haves”, the things that will make a home perfect for you. From there narrow the list down. Explore why each item is a must have and decide if it is really just a want that can be worked around if the other terms outweigh not having that criteria met. Place the biggest concern on items that cannot be changed like location or in some cases square footage. When you are finished with this process you will have a list of “absolute must haves” and will be opening yourself to a wider range of possible homes to consider. Once you have found a home that meets the criteria you absolutely must have you will be able to determine if there are inexpensive ways to add the other items over time. When you visit homes remember things like furniture, appliances and decor can usually be changed inexpensively to better suit your tastes. Try to look beyond these things to the condition of the property, the potential future value and if it meets the criteria you have set on your list.

When you have found a property that is suitable for your current needs we will help you in determining the financial value of the purchase. When you combine your must haves with the financial value of a particular home you will many times find that it makes sense to move forward with an offer while rates are still low and prices have not completely recovered. Make a sound investment now and it will put you one step closer to owning a home that is perfect in every way in the future.

There are so many homes to choose from in the Smoky Mountain region at this time that we are confident once you are armed with your “absolute must have” list and your pre-approval letter you will have no trouble finding a home that is so close to perfect you will know it is time to purchase. Please take some time at our website to explore some of the many options available.

Here Are A Few Of My New Listings:

Smoky Mountain Charm Has produced right around $15,000 in gross rental income for each of the last two years! Three level chalet with a bedroom and bathroom on each floor for maximum privacy. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

Breathtaking Mountain Views Gorgeous home in Cobbly Nob with an equally gorgeous Smoky Mountain view. Enjoy a spacious floor plan, currently configured with three bedrooms, level parking, a four seasons room and a two car garage with an attached car port. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $298,500 Get more information >

Totally Updated & Great Views Almost $30,000 in rental income for 2010 & 2011! High quality construction and a great view combined with tasteful updates should put this one on your short list. Type: Single Family Home Location: Chalet Village Price: $229,900 Get more information >

The Truth About These Common Homebuying Myths

Posted by Gatlin on July 12, 2012

Buying a home can seem like a daunting process. With the wide variety of information readily available on the internet it is easy to be left wondering what is true and what is not. Let’s take a look at a few of the prevailing myths about purchasing a home that may be holding you back from taking the first steps towards owning a home.

Myth 1: Owning a home is more expensive than renting. Mortgage rates are at all time lows making home ownership more affordable than ever before while rental prices are on the rise. It is true that owning your own home will mean that you are responsible for repairs but in exchange for that you gain the freedom to make your own choices about your living space.

Myth 2: You have to have perfect credit to buy a home. It is correct that the higher your credit score the more options you will have in choosing a mortgage. However, having a score in the lower ranges does not mean it is impossible to obtain a loan. If you are thinking of a purchase talking with a lender will help you to navigate your credit report and verify the loan options that are available to you.

Myth 3: You must have a 20% down payment. Sure, having a large down payment will lower your payments but is not always necessary. Many loan programs are available that will allow as little as a 3.5% or in some cases no down payment. We recommend talking with your lender about options such as an FHA or Rural Development loan.

Myth 4: Getting a mortgage is too complicated. Although lending guidelines have gotten tighter than they used to be, with the help of your lender and your real estate agent navigating the process is made much easier. There are some hoops to jump through and it may seem that your lender is asking for an endless supply of documentation but your agent and lender will assist you in making sense of it all and getting you to a successful closing on your home.

Myth 5: Foreclosures need a lot of work. Though some foreclosed homes are left in a state of disrepair this is certainly not the rule. Your agent will assist you with obtaining home inspections to determine the true condition of the property. In many cases you will find that like other homes a foreclosure just needs a little TLC. If the inspection reveals major items that need repaired your agent will be looking out for your best interests and help you negotiate through the inspection results.

Myth 6: Buying a foreclosure will get me a huge discount. Yes, the banks are looking to thin their inventory but they are also trying to protect their interests as well. Though some foreclosed properties are offered at lower than market value prices this is not always the case. The bank obtains a market analysis of the property and sometimes a full appraisal prior to listing it on the market and price it accordingly to see what the market will bear. In most cases the bank would prefer to lower the price in small increments until they obtain a reasonable offer rather than accept a cut rate offer.

Myth 7: The perfect home is out there if I just keep looking. Homes are a lot like people, none are perfect in every way but when we love them we accept the flaws. When you step into the house that is right for you for the first time you will know it. Prior to viewing homes make a list of the things that are most important to you in a home and of what things would be a deal breaker. Once you have an accepted offer we encourage you to have a home inspection which will reveal if any of your deal breaker items exist or if there are simple maintenance items that you are willing to address so that you do not lose the opportunity of owning the home that was meant for you.

The goal of our team is to make your home buying process as easy and stress free as possible. Armed with a great agent and accurate advice you will find the home that is right for you and be at the closing table before you know it. Take some time at our website to see the wide variety of homes that are available and when you are ready to take the next step we are available to assist with every aspect of the process.

Here Are A Few Of My Featured Listings:

View City Lights Against The Mountains Absolutely amazing views of downtown Gatlinburg and the Great Smoky Mountains National Park. Incredible close up night lights view, you can actually see people on the sidewalks with a dramatic mountain backdrop. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $359,900 Get more information >

180 Degree Mountain & City Light Views $14,300 rental income in 2010 with 2011 already ahead at $14,500 through October. Very private ridgetop retreat w/ wraparound covered deck that has amazing 180 degree views of the mountains & city lights. Type: Single Family Home Location: Price: $189,900 Get more information >

Mount Leconte Views Beautiful mountain home with view, wrap around decks, updates throughout including kitchen, new appliances, quartz counter tops and glass tile back splash. Great for permanent residence or rental. Type: Single Family Home Location: Chalet Village Price: $239,900 Get more information >

Expect Strong Improvement For The Real Estate Market In 2012

Posted by Gatlin on June 21, 2012

When we looked at the Smoky Mountain market statistics for January through May of 2012 it was noted that homes are selling faster, sales volume is up but prices are still down by 14% from last year. We believe that this is directly related to the still existing inventory of distressed homes that are lingering on the market. Distressed homes affect not only the market but families, communities and the overall economy. It is positive news that both lenders and government have been working through several new options and getting more aggressive in their attempts to liquidate inventory and prevent more from coming to the market. The National Association of REALTORS believes that increasing access to affordable loans and committing more resources to loan modifications and short sales is the key to calming the situation.

As we move through the year we expect to see the average sales price move more and more towards stronger numbers. Buyers are actively involved in the market and mortgage rates are at all time lows. The pieces are falling in place for a market recovery and every month we see more positive news both locally and nationally. The National Association of REALTORS reports that although the last four years in home sales have been essentially flat they forecast a solid increase of around 400,000 more homes sold in 2012. Nationally all major home price trackers are showing a trend of rising home prices in many areas. Harvard University’s Joint Center for Housing Studies released it’s Annual State of The Nation’s Housing report for 2012. The report points to increasingly strong market fundamentals and says home sales could see serious improvement this year.

Slower job growth, the above mentioned distressed properties and the slow pace that young people are moving in to their own homes are a few things hanging over the recovery but things are moving in the right direction. With rentals getting pricier and mortgage affordability at an all time high, demand continues to increase. The report from Harvard includes a detailed graph showing how much more affordable mortgage payments have become compared to rental rates. We expect to see many more first time buyers entering the market as the year progresses.

With the flurry of activity in the market now could be a great time to consider putting a home on the market as buyer exposure is continuing to increase. Wondering how much the market may have changed this year? We are happy to prepare a free Market Analysis for you to give you an idea of what buyers are currently paying for homes similar to yours.

Thinking of buying a mountain home? With plenty of properties at great prices still to be found in the Smoky Mountain region and mortgage rates so low, now is the time to enter the market. We are happy to assist you with getting pre-approved, finding the right home and assisting with your path to home ownership. Why not take a look at all that is available at our website?

Here Are A Few Of My Featured Listings:

Like Brand New
The effective year built on this cabin is basically 2009. A very impressive top to bottom remodel has totally transformed it into one the nicest and most up to date you’ll find.
Type: Single Family Home
Location: Chalet Village
Price: $488,000
Get more information >

Custom Built Home On The River
Custom built home on the Pigeon River with year around mountain views in one of Sevierville’s most sought after neighborhoods.
Type: Single Family Home
Location: Sevierville,TN
Price: $389,700
Get more information >

Secluded & Private Country Home
Over $30k rental income in both 2010 & 2011! This secluded & private country home is located in the heart of the Arts & Crafts community.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $289,900
Get more information >

You’re Pre-Approved To Purchase A Home:What Happens Next?

Posted by Gatlin on April 19, 2012

In a previous article we went in-depth about pre-approval, what it is, how to get it and why it is a very important first step to buying a home. So you have gathered your financial documents, talked with a lender and have your pre-approval in hand, now what? Let’s talk a little bit about a few things you can do to prepare further for your home purchase and a few things you can expect along the way.

We believe that with a large amount of inventory to choose from in the Smoky Mountain region it is important for you to start by making a list of your needs/wants in your future home. This list should include number of bedrooms, location, type of view and any other items that are important to you. Will the home be a second home or investment? If so will you be using it as a vacation rental? This will play a factor when your agent is helping you to locate a home and needs to help you analyze rental income history of prospective property.

Once you have narrowed down your criteria let us know the most important characteristics your future home needs to have. This will assist us in setting you up to automatically receive listings that may be of interest, letting you know as soon as we come across a home that may fit the bill and also in preparing for your first meeting to view homes.

When the time is right we will make an appointment to view property. You will want to bring along the list you have created as well as a notepad or electronic device to use for jotting down notes about homes you see. This will come in handy at the end of the day when houses seem to be blending together. You will know when you step in to the perfect home. When this happens be prepared to write an offer. The Smoky Mountain market is moving pretty steadily with a large number of buyers in the market. Remember, if you are rating a house at an 8, 9 or 10 someone else probably will too. This is where your pre-approval letter comes in to play because:

*Being pre-approved may expedite the acceptance of your offer to purchase. Many sellers will not respond to an offer to purchase without a pre-approval letter. In the meantime, they can continue to consider other offers.

*You will be in a much better negotiating position with a pre-approval in hand especially in the case of multiple offers on the same property.

Once you have identified that perfect Smoky Mountain home and are ready to make an offer we will assist you in preparing the offer by providing current market data to detail what the pricing trend for similar homes is indicating, thoroughly going through the required documents for your offer then preparing it and presenting it to the seller’s agent to begin your negotiations.

With a little bit of preparation and the guidance of our dedicated real estate team the journey from pre-approval to accepted offer will be much easier to navigate. As you are working on your list take a look at our website and get a feel for all that the Great Smoky Mountains have to offer.

Here are a few of my featured properties:

Wears Valley Dream Come True You’ll notice the unusually high quality construction from the moment you pull in the driveway. Type: Single Family Home Location: Pigeon Forge Price: $597,000 Get more information >

Unbelievable Price On A Mountain Home Opportunity knocks with this can’t be beat price on a Smoky Mountain home. Just minutes from Ober Gatlinburg & tucked away on a wooded lot with level parking. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $129,900 Get more information >

Pigeon River Right Outside Your Door! This remodeled riverfront home is a sure to please. With the calming sounds of the Pigeon River right outside your door this completely remodeled home complete with sauna and hot tub are sure to take the stress away! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $289,900 Get more information >

Why Should You Get Pre-Approved To Purchase A Smoky Mountain Home?

Posted by Gatlin on January 19, 2012

Whether you are searching the web, talking to friends or getting ready to meet your real estate agent you have most likely been asked if you are pre-approved. Ever wonder what all the buzz is about? Let’s take an in-depth look at what it means to be pre-approved, how to do it and why we think it is such an important first step in your home search.

What It Is:
A loan officer will review your financial status, including your income, cash flow and credit score, to help you determine the maximum monthly housing payment for which you may be able to qualify, and, if qualified, “pre-approve” your mortgage before you’ve found a home.

How To Get It:
We suggest speaking with a few lenders to shop for rates and decide who you feel most comfortable with. A great place to start is at your current bank. Next, ask us for a recommendation. We have a network of lenders that we work with who are very familiar with all aspects of purchasing in the Smoky Mountains. It only takes a short amount of your time but the benefits of being pre-approved are numerous.

The Benefits:
*Armed with a mortgage pre-approval, you can start searching for homes with a much better idea of your price range, and in turn save time as you will know the right homes to focus on. Obtaining a pre-approval may offer more confidence and certainty to home sellers in your ability to purchase the home.

*It will give you the ability to see the homes you want to see when you start looking. Many sellers in today’s market will not approve a showing without a pre-approval being provided ahead of time.

*Purchase forms often require buyers to apply for financing within a given time period, in many cases, seven to 10 days. By meeting with loan officers in advance and identifying mortgage programs, it won’t be necessary to quickly find a lender, check credit, and rush into a financing decision that may not be the best option.

*You will be in a much better negotiating position with a pre-approval in hand especially in the case of multiple offers on the same property.

If you would like more information about pre-approval or would like one of our preferred lender partners to contact you please give us a call or email anytime. We look forward to assisting in your home purchase. While you are working on that pre-approval why not take some time to browse the variety of property for sale in the area?

Here are a few of my featured listings:

Smoky Mountain Money Maker
Smoky Mountain money maker did over $26,000 in rental income for both 2010 & 2011. Nestled in a resort like neighborhood this large cabin is filled with amenities & is close to Dollywood.
Type: Single Family Home
Location: Pigeon Forge
Price: $179,900
Get more information >

Award Winning Design & Mountain Views
This home’s commanding presence and awe inspiring setting have contributed to its status as an architectural icon. Award winning design and attention to detail create a distinctive home unlike any other you’ve seen.
Type: Single Family Home
Location: Chalet Village
Price: $899,900
Get more information >

Fantastic Rental Income & Mtn View!
Incredible furnished rental with fantastic Mt LeConte view. Lots of decks w/hot tub to enjoy the view. Bedroom suites with recreation room and kitchenette for entertaining. Lots of room for large groups. Sleeps 18.
Type: Single Family Home
Location: Sevierville,TN
Price: $399,900
Get more information >

Tag: First Time Home Buyer