Smokies’ Real Estate Rebounds Rather Nicely in April

Posted by Gatlin on May 12, 2010

As we approach late spring and head towards summer, real estate in Tennessee’s Great Smoky Mountains is picking up momentum in home sales. April’s residential figures have been compiled, and the data looks very encouraging. The Great Smoky Mountains Association of Realtors reported that total residences sold are up 20%. This April there were 133 residences sold, or 22 more than April of 2009.

Dollar volume sold in April 2010 is 8% higher over the previous year, with a total of $22,528,707. The increase in total dollar volume sold was $1,751,237.

The influence of first time homebuyers, combined with an influx of discounted foreclosures is continuing to be a dominant force in today’s property market. These factors have forced the “average price per residence sold” to be less in April 2010 than in April 2009. The average price per residence sold in April 2010 was $169,389. This figure was $17,795 less (10% lower) than April 09′.

The number of residences actively listed for sale is up 17% with April 2010 leading last year by 569 units for a total of active listings at 3,953.

All of this data, factored with today’s market conditions, could indicate that currently Smokies’ real estate might be a good investment. Qualified buyers can find great low interest rates on home mortgages. There is a great variety of property currently for sale. Today’s investment market in the global stock and bond arena is volatile to the point of becoming dangerous. This was evidenced by last week’s stock market meltdown, leading into this week’s rebound. Owning property in a beautiful, desirable part of the country might be a good place for some of your hard-earned money. Check out our website, or call us at 877-678-2121 today, to get started owning your personal piece of Tennessee Smokies’ real estate.

Here are a Couple of My Current 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 >

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: $239,900

Call me today at the Jason White Team to view any of these listings! 877-678-2121

Current Market Conditions Are Helping Existing Home Sales Rise

Posted by Gatlin on April 29, 2010

My news sources in Washington, D.C. at the National Association of Realtors are excited to see March “existing-home sales” rising as predicted. The existing-home category includes; single family, townhomes, condominiums, and co-ops. March data reveals a 6.8% increase over February. February’s figure was 5.01 million units with March increasing to 5.35 million units. Lawrence Yun, the Chief Economist for NAR, was encouraged that home sales have experienced a broad-based recovery almost everywhere across the country. Home sales have remained above prior year sales for nine consecutive months. Another positive factor is that inventories of homes for sale have trended down for 20 months. Yun feels that this decrease in homes for sale will stabilize home prices. He feels that much middle class wealth is tied to the value of the family home. The Chief Economist is optimistic that the “home buyer tax credit” stimulus is effectively preserving middle class wealth through the stabilization of home pricing. Yun is encouraged to see the supply of foreclosures quickly being absorbed by buyers. This has been especially evident at the lower-end of the market where first-time homebuyers are competing for the deeply-discounted, foreclosed homes. This process of lowering home inventories and price stabilization should continue as the tax credit stimulus expires at the end of April 2010. NAR President, Vicki Cox Golder is also pleased with the current housing market. Loan standards are tougher, but prices have become more reasonable and mortgage interest rates are close to historic lows.

If you are considering real estate here in East Tennessee’s Smoky Mountains, now is a great time to buy or sell. Our selection of properties is good and qualified buyers will find good mortgage interest rates. The real estate market in our area is favorable, with prices below their all-time highs. Property in this area is reasonable with respect to taxes and prices. On top of that, the scenery of the Smokies is incredibly beautiful. If 2010 is your year for real estate in Tennessee’s Smokies, start now! You can get on our buyer-oriented website to begin. Our site allows you to set personal criteria for your property search. This saves everyone time. When you come for a visit, you look at your best selections and it allows you time to enjoy the area’s many different amenities. Our team of professionals can assist in refining your search. Begin today to find your property in the Smokies!

Here are a Few of My Latest Listings:

Estate Home on Lake Peninsula
This palatial,custom built, heirloom estate is a perfect home for entertaining or just relaxing by the waterside. With expansive views of Flat Creek(Douglas Lake) the surrounding mountain ridges and professionally landscaped grounds are impressive.
Type: Single Family Home
Location: Sevierville,TN
Price: $1,120,000
Get more information >

Incredible Smoky Mountain Home & Views!
Outstanding workmanship and distinctive design make this gorgeous mountain getaway with five master suites, gourmet kitchen, HUGE rec room and magnificent,unblemished views of the Smokies a one of a kind!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $799,900
Get more information >

15 Acre Mountain Lodge!!
Breathtaking views from this Mountain Lodge, on 15 acres, located in prestigious Chalet Village. 12 Master Suites all with their own whirlpool baths, LCD TV’s,king beds & private balconies w/ views! Room to entertain 100 people with parking for 14 cars.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $1,870,000
Get more information >

Call today for more information on any of our properties! 877-678-2121

Real Estate Blossoms like Spring Flowers

Posted by Gatlin on April 7, 2010

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 >

U.S. Home Sales in February Show Mixed Results

Posted by Gatlin on March 24, 2010

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!

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

Posted by Gatlin on March 3, 2010

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.

Pending Home Sales Slows, But Remains Above 2008 Levels

Posted by Gatlin on January 13, 2010

My blog readers may recall this expected market action from earlier news reports out of the National Association of Realtors in Washington, D.C., NAR chief economist, Lawrence Yun reaffirmed that the drop in the Pending Home Sales Index was anticipated. Home buyers scrambling to beat the initial deadline for the tax credit caused a wave of activity that crested with the origional deadline for the tax credit. Many analysts at the NAR predicted that the rise in the PHSI would halt as the old tax credit ended and its’ new expanded replacement builds momentum. Yun is optimistic that another surge of new home buyers will enter the market this spring. Although Pending Home Sales backed off its streak of consecutive increases, the Index remains above last year’s levels. NAR’s chief economist thinks the U.S. home market is building momentum on its own, but expects another 900,000 first-time home buyers to utilize the extended tax credit along with 1.5 million repeat buyers. Yun feels that low mortgage rates and increases in job growth will help the real estate market. Excess housing inventory will continue to decrease. All this should help in stabilizing home prices in 2010.

The Pending Home Sales Index fell in all 4 regions of the country. Home sales in the West fell the least. Next in line is in the South, where the Index fell 15.0% to a reading of 97.8, but stayed 14.7% above 2008’s levels. An index level of 100 is equal to the average level of contract activity on homes in 2001. This was the first year the index was used.

If you are considering a real estate purchase in the Smokies, now is a great time. Mortgage interest rates are at historically low levels and will probably increase. Inventory of properties for sale is up, so selection is good. The tax credit is in effect through April 30th and it could put $6,500-$8,000 in your pocket, if you qualify. So if you are seriously thinking about buying or selling Smokies real estate in 2010, contact the Jason White Team. Our expertise and knowledge of the area has made us a leader in helping people buy or sell property in the Great Smoky Mountains. Contact us online or by phone to get started today.

Here are a Couple of My Latest Listings:

Incredible Smoky Mountain/Valley Views!
This home is truly Above and Beyond. Even has an elevator! The mountain and valley views are worth viewing this home! Incredible log details throughout.
Type: Single Family Home
Location: Wears Valley
Price: $699,900
Get more information >

Lots of Windows to Enjoy Mountain View!
Beautiful views from this contemporary home. Lots of windows bring the outside in. If you need storage this home is for you with plenty of closet space and even a separate living space in the lower level with it’s own entrance. Great in-law quarter!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $135,000
Get more information >

October 2009 Existing-Home Sales Score Another Gain While Home Inventories Keep Declining

Posted by Gatlin on November 25, 2009

My sources at the National Association of Realtors in Washington D.C. report continuing good news in existing-home sales for October 2009. Existing-home sales include; single family homes, townhouses, condominiums, and co-ops. Lawrence Yun, NAR’s chief economist was suprised by the size of October’s gain. The increase was 10.1% for October ’09 at 6.10 million units vs. September ’09 at 5.54 million. This represents a 23.5% increase above October 2008 which registered 4.94 million units. The October 2009 numbers are the highest indicators of sales activity since February 2007 set the record at 6.55 million untis. The record sales are methodically working down the large inventory of homes for sale. As this trend continues, the oversupply of homes on the market will drop and home pricing could stabilize. Economist Yun feels that much of the current home buying has been fueled by the deadline of the original first-time buyer tax credit. Initially, this was set to expire at the end of November 2009. Congress’s extension of the home buyer credit until April 2010 will help bring more home contracts to close. NAR’s research estimates that there is still pent-up demand for homes, and buyers will utilize the tax credit. However, at some point a decline from these increases in home buying is very likely to occur. Historically low interest rates are also helping to motivate today’s home buyers. A 30 year conventional fixed rate mortgage in October ’08 was 6.20%, in September ’09 it was 5.06%, in October ’09 it was 4.95% and in November ’09 it dropped to 4.83%

NAR President ,Vicki Cox Golder out of Tuscon, AZ , says that activity by first-time buyers is causing unique conditions in housing markets across the country. Foreclosure properties are rapidly getting purchased, with many lower end units getting multiple bids. Low-end home inventory is in demand and it is important to work with qualified realtors to get what you want. The inventory of homes on the market has dropped to an estimated 7 month supply. That is the lowest supply in 2 1/2 years. The national median price for existing homes is down, because of strong pressure from distressed properties. Foreclosures and other distressed real estate are deeply discounted and they tend to force other properties to be more competitive in their pricing as well. All regions of the country are up in existing-home sales, but the median pricing of homes is down from last year.

If you are contemplating, buying or selling real estate in the Great Smoky Mountains area, it is a good time. Inventories are dropping, but they still offer a great selection. Buying activity fueled by the first-time buyer tax credit is good and mortgage rates are very attractive. Let the local market knowledge, and the professional expertise of the Jason White Team help you buy or sell your real estate in the Smokies. View my featured and latest listings now.

Here are a few of my featured listings. Condos in the middle of Downtown Gatlinburg. You can leave your car for your vacation and walk or ride the trolley. The trolley goes to Dollywood and several parts of the National Park. Aquarium is just two blocks away by foot.

	Hugh Price Reduction in Gatlinburg! Hugh Price Reduction with great location! Type: Condo Location: Gatlinburg ,Tennessee Price: $199,900 Get more information >

	Relaxing Garden Patio- Gatlinburg Condo! Recently refurbish in excellent taste!! This downtown Gatlinburg condo is located on ground floor and corner unit for privacy. Easy access to private outdoor pool. Type: Condo Location: Gatlinburg ,Tennessee Price: $199,900 Get more information >

	Gatlinburg Condo Close to Pool! This unit is close to the pool on ground level. It is refurbished and professionally decorated. Type: Condo Location: Gatlinburg ,Tennessee Price: $199,900 Get more information >

	Refurbished Gatlinburg Condo! Fine living plus a highly desirable ground level corner location for privacy! Professionally decorated with flowing floor plan. Type: Condo Location: Gatlinburg ,Tennessee Price: $199,900 Get more information >

	Condo in Downtown Gatlinburg Great condo in Downtown Gatlinburg. Within walking distance to the Aquarium, restaurants, and shopping. Type: Condo Location: Gatlinburg ,Tennessee Price: $199,900 Get more information >

Smoky Mountain Homes and Cabins Sold Year-To-Date in 2009

Posted by Gatlin on November 5, 2009

A year-to-date comparison of Smoky Mountains homes and cabins sold in 2009 can help us get a feel for real estate trends in Gatlinburg and nearby areas. I try to keep past and future clients aware of market movement in Smoky Mountain real estate. This can assist people in making a decision on when to buy or sell their property. I crunched some data that was available to me thru our local Great Smoky Mountains Association of Realtors in compiling the following comparisons.

Our first review is for residential real estate sold in the Great Smoky Mountains area for the month of October 2009. October’s total number of residences sold was 123 compared to October 2008 with 111 units sold. October ’09 saw 12 more residences sold than October last year or a 12% increase.

This October had total volume sold of $20,389,112 versus October ’08 at $23,222,284. October ’09 was $2,833,172 lower or 12% down in total volume.

This October’s average sale per residence was $165,765 opposed to $209,210 in October 2008. The average residence sold was down $43,445 or 21% smaller than last October ’08.

October ’09 active listings was 4,321 against 3,530 for October ’08. Active residential listings in October ’09 were 791 more or 22% higher than the same month in ’08.

Our second comparison is January 1st thru October 31st in these 4 parameters for 2009 vs. 2008. This year to date evaluation is often helpful. Number of residences sold in GSMAR YTD is 1,150 vs. total sold in 2008 for the same time frame of 1,242. 2009 has 92 fewer residences sold so far that 2008 or 7% less.

Total dollar volume sold in 2009 YTD in the Great Smokies is $207,966,703 compared to $239,638,614 in 2008. Total dollar volume in ’09, so far is $1,671,911 loss or lower by 13% than ’08.

The average sale for 2009 per residence is $180,841 vs. $192,946 per residence in ’08. The average price per residence sold is $12,105 less or 6% off from ’08.

The active listings in ’09 YTD are 7,924 vs. 6,701 in ’08. There are 1,223 more active listings or 18% higher this year than last.

This data gives us some possible current views on Smokies real estate. Number of residences sold, overall dollar volume, and average dollar volume sold, are down from ’08. Active listings are up which could be influences from the first-time-home-buyer tax credit. It seems that this stimulus is working, but first time buyers are focused on lower-priced homes. Other lower price influences could be from an inventory of foreclosure properties that impact the market with their fire-sale pricing. The increase in active listings could be from home owners seeking to move into an upgraded residence, but they need to sell their existing home first. In either case, buying or selling a home, there are opportunities now to do either. Mortgage rates are low and there is certainly a good inventory of new or older homes or cabins for sale in Gatlinburg or other parts of the Smoky Mountains, then contact the Jason White Team. Our web site can get you started on finding the Smoky Mountains real estate of your dreams. Click here to see our listings.

Here are a Couple of My Latest Listings

Updated with Mountain Views and Privacy
Enjoy the mountain view from your hot tub deck while watching the tram nearby. This private, updated, contemporary home is very close to downtown Gatlinburg and the Great Smoky Mountain Nat’l Park. This is a must see!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $169,900
Get more information >

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 >

Tag: Market statistics on Smoky Mountain Real Estate