Are We On Our Way To A Housing Market Recovery?

As we follow market statistics, news and other sources it seems that we may be headed towards recovery. This week let’s take a look at what everyone is saying, what the trends are and what it all means as you are looking at the purchase or sale of a home.

On January 9th The National Association of  Home Builders added 40 new metro areas to its NAHB/First American Improving Markets Index. This is up from  only 41 improving areas  in December, with 31 states represented by at least one entry.The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. In a release on January 12th David Crowe, NAHB Chief Economist states “2011 ended on a positive note with economic activity continuing to expand at a moderate rate and the housing sector finally gaining some positive momentum after bouncing along the bottom for most of the year.”

We are seeing banks taking measures to streamline the processing of  backlogged foreclosure inventory and aggressively seeking alternatives to foreclosure. Bank of America and a few other lenders are currently testing a few pilot programs to entice homeowners to pursue a short sale of their property in lieu of letting it go to foreclosure. So what does it all mean?

For sellers:
If you are thinking of selling your Smoky Mountain property, this is all good news. The Smoky Mountain area remained relatively stable throughout 2011, with only minor changes from 2010. You can find the 2011 statistics in our earlier blog post here. At the turn of 2012 we have seen a definite spike in activity with interest rates at extreme lows & more qualified buyers entering the market looking for their own Smoky Mountain get away. With the phones ringing, email inquiries pouring in and the influx of people visiting the area to look at property, sellers are seeing a big increase in exposure of their homes to qualified buyers. We would be happy to provide you with a complimentary market analysis of your property to help you see what it’s true value is in the current market.

For buyers:
Looking to purchase a second home or investment property in the smokies? As mentioned above, we may begin to see less foreclosures, more stabilized prices and a more competitive market as the year progresses. There are many great opportunities still available in the current market and now may be the time to start looking to see what is available. Interest rates are remarkably low & we would be happy to assist you in getting pre-qualified for a mortgage to begin your buying process. For more information about getting pre-approved and why it is so important in today’s market please visit last week’s blog post here.

See what opportunities the Smoky Mountain home market has to offer by viewing available homes at our website.

Here are a few of my featured listings:

 

Small Price – Large Mountain Home
Almost $27,000 rental income for 2011! Great bargain for future income. Beautiful chalet with lots of room for entertaining.
Type: Single Family Home
Location: Chalet Village
Price: $189,900
Get more information >

 

Charming & Authentic Log Cabin
Did $22,907 in rental income from April – December of 2011. Charming and authentic log cabin located in desirable Sky Harbor community between tourist centers of Gatlinburg and Pigeon Forge.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $179,900
Get more information >

 

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 >

 

December Shows Smoky Mountain Homes For Sale Are Still Moving

We wanted to take this time to look at how the last month of 2011 shaped up for the Smoky Mountain real estate market. We are still seeing a reasonably healthy market with only minor changes from 2010 and plenty of homes in inventory. If you are looking at purchasing investment property now may be the time. A recent article by www.WBIR.com says Pigeon Forge is getting more national attention as a top travel destination.  The article notes that Trip Advisor recently released its 2012 list of the “Top 15 US Destinations on the Rise” with Pigeon Forge making the list at number four. Trip Advisor said one of Pigeon Forge’s advantages is its close proximity to the Great Smoky Mountains National Park and its outdoor activities as well as other attraction options like Dollywood. Let’s take a look at the numbers and see if the Smoky Mountain area may be the perfect place for your next investment.

 In our first category, Total Residences Sold, we see that 2011 is only down by 64 homes from the previous year.

Total Residential Dollar Volume is also down from last year showing a decrease of 9%.

The Average Residential Sale shows only a small decrease of $8,647 from 2010.

Our last category, Active Listings, still shows an increase from last year with 7,071 homes available on the market to choose from. This is a change of 659 homes for sale.

It would seem that the Smoky Mountain area market is still somewhat stable. With plenty of homes on the market as well as all of the national attention as a top destination, this could be the perfect time & place to look at a potential investment home. Get started by looking at the wide array of homes available at our website.

 Here are a few of my featured listings:

 

Smoky Mountain Views Found Here!
Magnificent mountain views but just minutes to downtown Gatlinburg. This mountain get away is perfect for the buyer looking for a prime location at a great price.
Type: Single Family Home
Location: Chalet Village
Price: $154,900
Get more information >

 

Beautiful Ridge Top Property! Great Deal
Beautiful ridge top property with level building site. Clear a few trees to have a wonderful mountain view. Gravel driveway to the top of the ridge. VERY MOTIVATED SELLERS!
Type: Land
Location: Gatlinburg, Tennessee
Price: $39,900
Get more information >

 

Walk To Arts & Crafts Community
A very unique and artistic log home. Very private yet within walking distance to the arts and crafts community in Pittman Center. Beautiful mountain view from the stone patio,covered front porch w/hot tub, and lots of stained glass throughout.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $168,500
Get more information >

 

 

 

 

The Smoky Mountain Real Estate Market Is Active

As we take a look at our month end statistics for Smoky Mountain real estate we continue to see a reasonably active and healthy market. Using data published by The Great Smoky Mountains Association of Realtors let’s explore how things are looking as we move towards year-end.  The GSMAR data we use is year to date and it compares this year to the same timeframe for last year. Though come select areas are still outperforming last year, we will look at the overall view of the entire residential market in this area through November.

In the category of Total Residences Sold, this year is down from 2010 by only 69 residences sold or 5% less.

Total Residential Dollar Volume Sold was also lower in 2011 with $225,111,411 or 9% less than the same period in 2010.

The average 2011 residential sale is still not far off from the 2010 average at  5% or $7,577 lower.

In the last category of Active Listings, 2011 shows plenty of inventory available with 6,870 homes available. This is a 10% increase over the same period in 2010 with 641 more homes on the market.

The real estate market in The Great Smoky Mountains is active. With plenty of Smoky Mountain homes to choose from and mortgage rates still very low, it could be the perfect time to start shopping. Contact your lender to see what kind of great rates are available, visit our website to look at the variety of homes available, then contact our team of professionals to take care of the rest!

Here are a few of my featured homes:

 

Functional Work Of Art W/Stunning Views
Once you see this functional work of art that doubles as a spacious home you’ll never want to leave.
Type: Single Family Home
Location: Chalet Village
Price: $950,000
Get more information >

 

New Construction Full Of Style
Newly built this one is full of style & character. Native stone accents outside with a great exterior color combination. Hand made kitchen cabinets andbathroom vanities crafted from super rare wormy chestnut.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $159,900
Get more information >

 

Handcrafted Custom Home W/Views!
$35,999.58 Rental Income from June 2011 forward. This custom home overlooks the golf course and has amazing mountain views. All the custom features you are looking for are found right here.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $1,500,000
Get more information >

 

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 >

 

Staying In Smoky Mountain Homes Gets More Special At Year End!

Whether you enjoy Gatlinburg homes or other delightful locations in the East Tennessee Smokies, this time of the year is magical! Our blog has spent some time in years past mulling over the awesome beauty of year-end holidays in the Tennessee Smokies. For one reason or another many  of us get caught by the rapid progression of time as our planet completes one more revolution around the sun.For the blog, it seems only yesterday that we shared the incredible progression of spring time beauty overtaking these magnificent mountains. Now we are in the final days of one awesome fall of leaf changing color. Snow has already briefly dusted the highest  peaks of  The Great Smoky Mountains. Within a matter of weeks the leaves will have fallen for most deciduous trees. Our calendars display that the month of November is well underway. This can only mean that Thanksgiving, Christmas, Hanukkah & other important year-end holidays are rapidly approaching. So we need to examine the upcoming activities associated with our winter festivals. Sevier County kicks off their fabulous winter lighting displays in Sevierville, Pigeon Forge and Gatlinburg. Monday, November 7th, marked Sevierville’s Winter Kick Off with music, lights and magic. This event features free food & entertainment each year. The evening wrapped up with “flipping the switch” to begin the area’s Winter Festival Of Lights. Dollywood began their Smoky Mountain Christmas on November 5th. Sevierville provides 3D glasses in limited quantities for $1.00/pair that give lighting displays a new look. Gatlinburg begins their Winterfest with parades, trolley rides, entertainment & more on December 9th.

Our blogs will continue to skim the primary events as they come on board. For even better planning you can go online and get more details far in advance to better map out family trips. Some of you are still entertaining the idea of a property purchase this time of year. Visit our website, we have geared the
site to help you find the perfect property. You can begin the search at your own speed in the privacy of your own home. When the time is right, our team of professionals is here to help you close the deal.

Here are a few of my featured listings:

 

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 >

 

Private Oasis Bordering National Park
Private mountain oasis tucked on over an acre bordering the Great Smoky Mountains National Park. Plenty of amenities & plenty of space.
Type: Single Family Home
Location: Chalet Village
Price: $379,900
Get more information >

 

Mt LeConte View w/Large Open Floor Plan
5 bedrooms all with in suite baths for privacy. Huge great room for those family gatherings and could walk to trolley to take to town or to Nat’l Park.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $350,000
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 >

 

 

Contemplating That Gatlinburg Home For Sale?

Some of my sources suggest that mountain homes could be at a good time to buy. Recently, The Wall Street Journal printed an interesting article by Jack Hough of smartmoney.com. Mr. Hough puts forth some intriguing ideas on why it could currently be a great time to buy a house. United States home prices have dropped almost 1/3 since 2006 and homeownership rates are falling like they were in the great depression. This may appear alarming, but there is a silver lining. First, lower prices are bringing value to home ownership and there is plenty of home inventory to consider. Number crunchers dance the line between renting vs. buying. The benefit of renting over buying changes with current market conditions. Home price/rent ratios are much like stock price/earnings ratios. Lower price/rent ratios favor owners over renters. Moody’s Analytics reports that price/rent ratios at the peak of the bubble were 18.5. Now the ratio is down to 11.3. For comparison from 1989-2003 the national average was approximately 10. Mortgage rates are a primary factor in overall home costs. Rates across the country are close to all time lows. The rates move from 3.94% to 4.12%. This makes house payments more affordable than in years. The hurdle comes in qualifying for today’s tighter lending standards.

It is important to factor in the location of the housing market you are considering. Some, like Detroit or Miami are bargains, while New York or San Francisco are in demand and command a premium. The author favors a “buy and hold” position and discourages an invest and flip position. He also recommends careful shopping as prices could decline farther. However, high yields are challenging in many of today’s investments, so homes offer a firm, reasonable opportunity.

If you want to explore your options in today’s East Tennessee Smokies, begin on our website. There are ample options available to explore at your own pace in the privacy of your own home. Begin today to explore these exciting opportunities.

Here a few of my new & featured listings: 

 

Great Four Level Chalet/Nice Ridge View
Very large 4 level chalet that sleeps 16. Big open space in all rooms and 4 levels of decks. Nice mountain views and walking distance to owners club and pools.
Type: Single Family Home
Location: Chalet Village
Price: $279,900
Get more information >

 

A-Frame w/Serene Setting/Incredible View
Total privacy with this A Frame home with incredible mountain vista and mature native mountain laurel. Located in Gatlinburg and walking distance to community pools, tennis courts, and Ski Resort.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $159,900
Get more information >

 

Great Price For Beautiful Mountain View
Plenty of community amenities, 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 >

 

Homes For Sale In Gatlinburg Could Be In A Warm Market

This blog works to provide relevant data on Smoky Mountain homes  and how that ties to the overall U.S. real estate market. The National Association Of Realtors reported in late September of this year that August 2011 pending home sales had declined nationally. However, the pending home sales index remains above August of 2010. The PHSI is a future oriented market indicator. It focuses upon signed home sales contracts which are not officially closed. These typically close in 1-2 months. Our interest is not centered exclusively upon this news but on material related to this story.

Four regions comprise the PHSI. Pending home sales here in the South was the only region across the country to have an increase in August 2011. NAR Chief Economist, Lawrence Yun feels that Hurricane Irene certainly impacted home sales in some parts of the nation. In addition, Mr. Yun is concerned that overly strict mortgage underwriting standards are rejecting a sizable number of financially qualified potential home buyers. The Chief Economist is hopeful that standards will be relaxed to allow more qualified buyers to enter the market.

For some time , we have advised our blog readers to get pre-approved for financing. This simplifies the home buying process by eliminating some of the guesswork. Go on our website  today to get started finding your dream property in the Tennessee Smokies.

*Information was obtained from: http://www.realtor.org/press_room/news_releases/2011/09/phs_august

Here are a few of my new listings:

New Construction Full Of Style
Newly built this one is full of style & character. Native stone accents outside with a great exterior color combination. Hand made kitchen cabinets andbathroom vanities crafted from super rare wormy chestnut.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $159,900
Get more information >
Mt. Leconte Views On A Pond
$17,832 rental income for 2010 & $17,444 already for 2011. Fantastic Mt. Leconte & community pond views.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $179,900
Get more information >
Unparallelled View of Great Smokies!!
Contemporary home with many interior updates and incredible view of ski slopes at Ober Gatlinburg and Great Smoky Mountains.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $224,900
Get more information >

Day By Day Autumn Leaves Are Amping Up Their Intensity, Deals On Smoky Mountain Real Estate Are Also Increasing!

 

Mountain homes all over our area could potentially offer you the dream property you always wanted. That Smoky Mountain location could provide one of the best leaf viewing sites in North America. While this may appear to be a boastful statement, there are many leaf viewers who would agree.

 The Smokies have a diversity of plants and trees that rival equatorial rain forests.This tremendous variety of plant life gives a cornucopia of color when fall arrives. Northerly locations like New England have great color. However, you also have the high potential of experiencing cold, wet and snowy weather. The Southern position of the Tennessee Smokies provides leaf peepers with a better chance to experience warmer, sunny weather.

 These old mountains display colors of fall in a fantastic topographical scene. The convolution of the ridges and hollows allow micro climates to exist. These places “march to their own drummer” when it comes to fall colors. Bright colors may appear first at the highest elevations, but some lower level plants begin color change based upon their own circadian rhythms. These rhythms are dictated by that particular plant species. Driving around The Smokies one can see the yellows of; Tulip Poplars, Beech, Walnut and Sassafras. Reds are supplied by; Sourwoods, Maples, Burning Bush and Virginia Creeper. Orange appears on; Poison Ivy, Sugar Maples and others. This leaf color selection is far from being complete. As we mentioned in years past, colors get changed by; hours of sunlight, rainfall, sod minerals, temperature, elevation and micro-climate in addition to plant species.

 If you want to take in phenomenal Autumn leaf color  plan your viewing within the next few weeks. Serious wind and rain are known to strip the color quickly. Likewise, if you want that special Smoky Mountain home, you need to get going if you want to complete the process by year end.

 

Begin your search on our website and our team can help you ink the deal!

Here Are A Few Of My New And Featured Properties:

Panoramic Views & Custom Features!
Rental income from June – October $32,424 with an additional $18,760 on the books! Not a typical cabin, this luxury home features panoramic mountain views, a home theatre, level parking & exposed beams surrounded by amazing custom craftsmanship.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $1,249,900
Get more information >
Handcrafted Custom Home W/Views!
$35,999.58 Rental Income from June 2011 forward. This custom home overlooks the golf course and has amazing mountain views. All the custom features you are looking for are found right here.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $1,500,000
Get more information >
Mountain Villa w/ Private Pool
Just Reduced $100,000!!Mountain villa with private solar-heated salt water pool and cabana on a peaceful lake front setting. Chef’s dream kitchen and fantastic mountain views.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $695,000
Get more information >

Some Areas of Smoky Mountain Homes Are Red Hot!!

When evaluating Gatlinburg real estate for sale, or other locations within the East Tennessee Smokies, it is crucial to rely on experienced expertise.  The seasoned advise of a true professional can literally save you a lot of money when shopping for property.  This week’s blog relies on data compiled by the Great Smoky Mountains Association of Realtors.  The GSMAR material evaluates residential sales figures across the region covered by their membership.  Residential sales for this blog are composed of; single family homes, condo’s, townhouses, and co-ops.  Our resources material shows that some areas within Great Smoky Mountain Association of Realtors are way ahead of this time frame one year earlier, while other locations have seriously declined.  In some aspects of property purchase, location becomes far more critical.  For instance, if one wants a residence for rental purposes or short-term investment, then the location becomes more crucial than a long-term purchase.  Be sure to define your real estate objectives and share these with your realtor so they can help you fulfill your property goals. 

In the category of Total Residence Sold, 2011 lags 2010 year to date by 100 (959 vs 1,059) or off by 9%.

For Total Dollar Volume Sold, 2010 again leads 2011 through the end of August by 10%. 2010 is $22,801,505.00 ahead in residential dollar volume over 2011.

In Average Residence Sold, 2011 narrowly lost out to 2010 YTD by $5,962.00 or 3%.

However, in the category of Active Listings 2011 leads 2010 by 563 or 10%.

Our blogs have long emphasized that real estate sales across this great nation have been skewed by government stimulus and other forces.  With current economic challenges at work, sales are resilient.  As we stated initially some areas are ahead of 2010 in their residential sales.  Clearly define your property purchase objectives and share these with your real estate professionals.  In this way, they can assist you to maximize your dreams. Contact us today!!

Here are a Few of My New Listings:

Breathtaking Mountain Views!!!!!
Enjoy the breathtaking mountain views from this chalet. Located close to town of Gatlinburg for all you shopping and dining adventures, yet private and quiet for your relaxation. Greenbrier River and Greenbrier entrance to the Nat’l Park just minutes away
Type: Single Family Home
Location: Pittman Center, TN
Price: $339,900
Get more information >
Furnished With Incredible Mountain Views
Great Rental History-2010 of $27,121. Mountain log home located near the Arts and Crafts Community of Gatlinburg and only minutes to downtown. Three master suites, lots of windows to enjoy the great mountain views, hardwood floors, & cathedral ceilings.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $239,900
Get more information >
Beautiful Ridge Top Property! Great Deal
Beautiful ridge top property with level building site. Clear a few trees to have a wonderful mountain view. Gravel driveway to the top of the ridge. VERY MOTIVATED SELLERS!
Type: Land
Location: Gatlinburg, Tennessee
Price: $70,000
Get more information >