Heading Into 2014, The Great Smoky Mountain Real Estate Market Continues to Show Slow, But Steady, Growth

Posted by Gatlin on January 9, 2014

Throughout this past year, we have seen both the national and local real estate markets continue to show slow, but steady, growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through December of this past year, we will see that these trends, particularly in this real estate market, are largely holding steady, as we now begin into a new year. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing December 2013 to that of December 2012, the number of residences sold held steady with an increase by 1% in terms of homes sold, in that 13 more homes were sold as of December 2013, as opposed to December 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we see that the market continues to show gradual, but steady, growth on the aggregate.

In the category of Residential Dollar Volume for the year, we see an increase of 7% through December of 2013, as opposed to through December in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices still continue to show that a greater dollar volume in homes are being sold, along with still continuing to show a slow 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 past year, prices still show a slow, but gradual, rise of 6% in December of this year versus that of December 2012, reflecting the recent local and national trends towards gradually higher home prices. As confidence continues to grow between potential buyers and sellers in the market as a whole, we see that the trend of higher home prices will likely continue for the foreseeable future.

In addition, available homes on the market are actually increasing in terms of inventory. Through December 2013, as opposed to December 2012, there is a slight increase by 1% of homes being listed as available on the market, or an increase of 29 more available homes on the market, in December 2013, as opposed to December 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is still too early to tell if the trend will continue into 2014, there are more available homes on the market in December 2013, as opposed to one year ago, which could further indicate greater confidence on the part of those wanting to place their homes on the market.

As markets continue this gradual trend of growth locally and across the nation, these statistics, heading into 2014, are largely expected to remain steady, showing continued slow, but steady, strength and growth into the new year. 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 for you? Let us help you make your home ownership dreams a reality today!

Here Are A Few of My Featured Listings:

High Chalet Condo Near Ober Gatlinburg! Contemporary, 2 BD/2 BA, well-maintained, condominium unit w/views of Ober Gatlinburg and the surrounding Smokies! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $77,900 Get more information >

Unique Chalet Adjacent to Nat’l Park! The enchanting, twinkling lights of Gatlinburg far below and majestic mountain vistas are what you’ll see from this pristine 12 acre estate. Imagine having your own 530,000 acre backyard! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

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: $299,900 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.gatlinburgrealestateforsale.com

Recent New Home Sales Surge Nationally Despite Slowly Rising Mortgage Interest Rates and Possible Fed Tapering

Posted by Gatlin on December 19, 2013

As we head towards the end of 2013, and into the start of 2014, there are some noteworthy national trends in real estate that are worth watching. These primarily center on the increasing likelihood of rising mortgage interest rates, as well as the possibility of the Federal Reserve beginning to taper, or slow down, its long-running bond buyback program. Both trends could foretell significant changes in the real estate market nationally in 2014.

In spite of these emerging trends, there are some other numbers worth noting in terms of the national real estate market that could also impact the coming year. One of these is that new home sales surged in October 2013 by 25% from the previous month, according to a report released by the U.S. Department of Commerce.

According to Keith Gumbinger, Vice-President of the mortgage information site HSH Associates, “It may very well be that a lot of folks are feeling better about their prospects and buying a new home.” In addition, Gumbinger also stated that there has been a general ease of financing for buyers, as “builders are motivated to get folks into homes.” Finally, Gumbinger also said that inventories of existing homes are thin in several markets, prompting people to build new homes rather than buy old ones.

The largest trend, however, in the coming year will center on the very real possibility of rising mortgage interest rates, especially since the Fed is currently weighing whether or not to start with tapering, or reducing the amount and scale to the Fed has been buying back bonds and securities since the 2008 financial crisis. The key to any real impacts will center on job and wage growth in the economy as a whole, and rising home prices will also have an impact as to whether or not there will be more buyers and sellers on the market in the coming year. At this point, it is too early to state how much of an impact this will have on the market, even though mortgage rates, from a more historical perspective, still remain low by comparison.

In view of these emerging trends, as well as recent surges in both home prices and new home sales nationally, there has never been a better time to find the home of your dreams, right here in the Great Smoky Mountains! Please feel free to browse our available inventory of properties, and see the many varieties of properties that we currently have here in the Smokies! Let us help you realize your home ownership dreams today!

Here Are A Few of My Featured Properties:

Private Log Cabin w/Amazing Mtn. Views! Enjoy privacy, mountain views and great outdoor spaces in this Sevierville log home that sits on over four acres! Type: Single Family Home Location: Sevierville,TN Price: $359,900 Get more information >

Luxurious Cabin w/Amazing Mtn. Views! Luxurious, scenic, 3 BD/4.5 BA, 2,600+ sq ft log cabin with spectacular views of the Smokies and a virtual bird’s eye view downtown Gatlinburg and surrounding areas! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $369,900 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: $299,900 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

Heading Into December, The Great Smoky Mountain Real Estate Market Remains Steady

Posted by Gatlin on December 5, 2013

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

In the category of Residences Sold, we see that in comparing November 2013 to that of November 2012, the number of residences sold held steady with an increase by 1% in terms of homes sold, in that 16 more homes were sold as of November 2013, as opposed to November 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we see that the market continues to show gradual, but steady, growth on the aggregate.

In the category of Residential Dollar Volume for the year, we see an increase of 5% through November of this year, as opposed to through November in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices still continue to show that a greater dollar volume in homes are being sold, along with still continuing to show a slow 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 slow, but gradual, rise of 4% in November of this year versus that of November 2012, reflecting the recent local and national trends towards gradually higher home prices. As confidence continues to grow between potential buyers and sellers in the market as a whole, we see that the trend of higher home prices will likely continue for the foreseeable future.

In addition, available homes on the market are actually increasing at the moment. Through November 2013, as opposed to November 2012, there is a slight increase by 1% of homes being listed as available on the market, or an increase of 51 available homes on the market, in November 2013, as opposed to November 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is still too early to tell if the trend will continue, there are more available homes on the market in November 2013, as opposed to one year ago, which could further indicate greater confidence on the part of those wanting to place their homes on the market.

As markets continue this gradual trend of growth locally and 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 for your and home ownership dreams today?

Here Are A Few of My Featured Listings:

Luxurious Condo w/Majestic Mtn. Views! Luxurious, spacious condominium unit located at LeConte Towers in Gatlinburg, w/a majestic view of Mt. LeConte and the Smoky Mtns.! Type: Condo Location: Gatlinburg, Tennessee Price: $339,000 Get more information >

Multi-Family Duplex w/Amazing Mtn Views! Beautiful, private, 2 acre multi-family duplex with postcard-style views, and literally a majestic view of the Great Smoky Mountains from almost any room on either level! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $398,000 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 >

Tools for Real Estate Investment 101: Self-Directed IRA’s and Your Real Estate Investment Needs

Posted by Gatlin on November 21, 2013

As home prices continue their gradual trend of rising during 2013, there are various investment tools that can be utilized by potential buyers and/or sellers in considering whether or not to invest in real estate, especially here in the Great Smoky Mountain real estate market. Today, we will focus on one of these investment tools, which has gained popularity in recent years, namely that of the self-directed IRA (Individual Retirement Account).

A Self-directed Individual Retirement Account (IRA) is not your typical IRA since it allows the account owner to invest in a wider set of assets than those offered by custodians and trustees of traditional IRAs. This separates a Self-directed IRA from other types of IRAs since the account holder can decide what permissible investments to put his or her money into without having the custodian or trustee set a limit on what investments to pursue, hence the term “self-directed.” In other words, the account holder is limited only by the rules set by the Internal Revenue Service (IRS) and of course, his or her choice of investments. In addition, the custodian or trustee is also in charge of facilitating all other transactions that involve the Self-directed IRA.

Some potential advantages of using a Self-directed IRA include, but are not excluded to, the following:

1.) Having a Self-directed IRA allows an account holder to purchase properties anywhere that’s allowed by law. Almost every type of real estate is permissible such as residential and commercial property, real estate options, and the like.

2.) Purchasing property can also be done without paying all the required capital. For example, account holders can participate in a limited liability company (LLC) that directly invests in real estate.

3.) Many account holders have already taken advantage of the current buyers’ market where property prices are low and foreclosure rates are high. They can attest to how they’ve benefited from their diversified portfolio within their Self-directed IRA.

4.) Usually, real estate investments purchased within a Self-directed IRA are intended as long-term investments. This means that once an account holder buys a property, they will hold onto it until its value appreciates and is ready to be sold. In other words, the “buy-low, sell-high” concept is well suited for this type of IRA.

5.) Selling an IRA-owned home lets the owner avoid paying capital gains tax if the proceeds are rolled back into the IRA. This especially applies to those who rehab properties in rundown condition and flip them for quick profit.

However, there are limitations as to what a Self-directed IRA can do, including, but not excluded to, the following:

1.) The Self-directed IRA cannot purchase real estate from a “disqualified person” either directly or indirectly. It also prohibits a “disqualified person” from using a property purchased within a Self-directed IRA. A “disqualified person” includes, but is not excluded to: Your spouse, your lineal ascendants/descendants and their spouses, plan fiduciaries (including advisors, custodians, and administrators), an entity (i.e., estate, corporation, etc.) where you own at least 50% of the voting stock, directly or indirectly, and anyone providing services to the plan.

2.) The purchased property cannot be used by the account holder – not even for a night. Only qualified people may use it and this does not include one’s relatives. Unless the account holder is 59 and a half years old and retired, then living in the investment property is deemed illegal.

3.) Account holders and family members cannot buy or sell property directly from their IRA. Likewise, it is also forbidden to buy or sell directly from the companies or enterprises that they own.

4.) Borrowing or lending money from the IRA is not allowed, and the IRA cannot be used to lend money to family members or as collateral for any type of loan.

5.) IRA funds and personal accounts cannot be combined or co-mingled.

6.) Those involved in the servicing of the Self-directed IRA account are not allowed to participate in any transaction that involves the account.

With a Self-directed IRA, you will have to find a reliable custodian or trustee to open an account and comply with the IRS requirements, and set up the account with a bank or other financial institution. When an investment property has been selected, the account holder would then authorize the custodian to pay a deposit from the Self-directed IRA by signing an authorization form. After which, the account holder must complete the necessary documents and forward them to the custodian or trustee. The closing agent will then coordinate the remainder of the transaction and release any additional funds required.

Finally, Self-directed IRA’s, like any other investment in real estate, do involve a lot of risk. First, it is recommended that one invests only 25 percent at the most if you are not inclined to be a “risk taker.” With the prices of properties at their current levels, you can probably find one that you may like. Second, keep in mind that the Self-directed IRA is making the investment — not you or anyone else. You can’t simply take the cash flow that you earn from your investment property since the custodian or trustee is in charge of it through your IRA. Third, be sure to leave enough funds in your Self-directed IRA to cover unexpected expenses related to your property, such as tenant turnover, maintenance and repairs. This will put you in a safe position should you incur any “additional” costs. Finally, please always seek the advice of qualified real estate investment professionals that can help you find the properties that would be best suited for your overall retirement goals. Like anything else, always ask questions, and make sure to get as much as information as you can before using this investment tool, or any other investment tool, before deciding to act on it.

With this basic knowledge and understanding of a potentially powerful investment tool for real estate, why not see what the Great Smoky Mountains real market can offer you today? Please feel free to browse our available properties, and let one of our buyer specialists help realize your home ownership dreams today! Come and see what the Great Smoky Mountains can offer you today!

Here Are A Few of My Featured Listings:

Nice Ranch-Style Home in Sevierville! Beautiful, well-maintained, 1,300+ sq ft, 3 BD/2 BA ranch-style home located in Sevierville, is walking distance to the nearby Pigeon River, along with being mins. to Dollywood, Pigeon Forge, and downtown Sevierville! Type: Single Family Home Location: Sevierville,TN Price: $159,900 Get more information >

Beautiful Private Cabin w/City View Beautiful, private 4 Bedroom/3 Bathroom cabin located just below Ober Gatlinburg w/a 20-mile view! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $195,000 Get more information >

Great Views & Privacy This three level cabin has consistently produced right at $30k a year in rental income every year since 2007! Located on a private lot it features a great view and a lot of windows and deck space for enjoying the scenery Type: Single Family Home Location: Pigeon Forge Price: $279,900 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

Heading Into November, The Great Smoky Mountain Real Estate Market Continues to Show Slow, But Steady, Growth

Posted by Gatlin on November 7, 2013

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

In the category of Residences Sold, we see that in comparing October 2013 to that of October 2012, the number of residences sold actually increased by 1% in terms of homes sold, in that 11 more homes were sold as of October 2013, as opposed to October 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we expect this to continue and improve over time.

In the category of Residential Dollar Volume for the year, we actually see an increase of 6% through October of this year, as opposed to through October 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 are being sold, along with continuing to show a slow 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 slow, but gradual, rise of 5% in October of this year versus that of October 2012, reflecting the recent local and national trends towards higher home prices. As inventory continues to decrease, we expect average home prices to continue their slow and gradual increase, in line with both national and local real estate market trends.

In addition, available homes on the market are actually increasing at the moment. Through October 2013, as opposed to October 2012, there is an increase by 1% of homes being listed as available on the market, or an increase of 69 available homes on the market, in October 2013, as opposed to October 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is too early to tell if the trend will continue, there are more available homes on the market in October 2013, as opposed to one year ago, which could indicate greater confidence on the part of those wanting to place their homes on the market.

Here Are A Few of My Featured Listings:

Spacious Riverfront Home in Sevierville Spacious, 3000+ sq ft home located along the beautiful Pigeon River, which is located right behind this home! Type: Single Family Home Location: Sevierville,TN Price: $329,900 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 >

Unique Chalet Adjacent to Nat’l Park! The enchanting, twinkling lights of Gatlinburg far below and majestic mountain vistas are what you’ll see from your own pristine 12 acre estate. Imagine having a 530,000 acre backyard! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

Federal Reserve’s Decision Wednesday to Continue Stimulus Could Keep Short-Term Interest Rates Low for Immediate Future

Posted by Gatlin on October 31, 2013

Real Estate Investing

On Wednesday, the Federal Reserve made the announcement that it would continue its long-running stimulus program of asset purchases and low interest rates. The Fed was widely expected to continue adding $85 billion a month to its portfolio of Treasury securities and mortgage-backed securities, particularly after the disruptive partial shutdown of the federal government in the first half of October.

The Fed maintained a relatively optimistic economic outlook in the statement, released after a scheduled two-day meeting of its policy-making committee. It said the economy continued to expand “at a moderate pace” and that the availability of jobs continued to improve.

“Taking into account the extent of federal fiscal retrenchment over the past year, the committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program as consistent with growing underlying strength in the broader economy,” the Federal Open Market Committee said in its statement. “However, the committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”

As a result of the Fed’s decision, the expectations are that short-term interest rates will remain low, at least for the immediate future. Fears about higher interest rates, especially on mortgages, have been on the rise since the Fed had also recently indicated a slowdown, or tapering, of its ongoing stimulus program. Fed officials had spent much of the summer preparing investors for a retreat from the bank’s stimulus campaign before the end of the year. That remains a possibility: The Fed’s policy-making committee is scheduled to meet for the final time this year in mid-December. However, no timetable or other decision on any tapering is expected from the Fed until at least mid-December, at the earliest.

What does this all mean for you? With low short-term interest rates still anticipated for at least the immediate future, there are many great deals and properties available here in the Great Smoky Mountains, with many types of homes and great deals still available! Please feel free to browse our available properties today, and let us help you find the home of your dreams!

Here Are A Few of My Featured Listings:

Unique Chalet Adj. to Ober Gatlinburg! Uniquely built and designed 1BD/1BA chalet located along Ski Mountain Road, close to Ober Gatlinburg, and mins. to downtown Gatlinburg! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $129,900 Get more information >

Contemporary Home w/Mt. LeConte View! Well-built and designed 3BD/2.5BA home with a bonus room and attached 2-car garage, located just minutes from dwtn. Gatlinburg and all of the attractions. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $375,000 Get more information >

Unique Chalet Adjacent to Nat’l Park! 12 pristine acres bordering Great Smoky Mtns. National Park w/direct views of downtown Gatlinburg & surrounding mtns. Cove Mountain Trail literally touches the rear property line. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

Latest News from the National Association of Realtors (NAR) Shows Existing Home Sales Are At Their Highest Levels Since 2007

Posted by Gatlin on October 10, 2013

Existing-home sales increased in August and reached the highest level in six-and-a-half years, while the median price shows nine consecutive months of double-digit year-over-year increases, according to the National Association of Realtors (NAR).

Total existing home sales, which include completed transactions for single-family homes, townhomes, condominiums, and co-ops, went up by 1.7% to a seasonally adjusted annual rate of 5.48 million units in August from that of 5.39 million units in July. This is also 13.2% higher than the 4.84 million units sold in August 2012, one year prior to August 2013.

Sales are at the highest pace since February 2007, when they hit 5.79 million, and have remained above year-ago levels for the past 26 months.

According to Lawrence Yun, the chief economist for NAR, “rising mortgage interest rates pushed more buyers to close deals, but monthly sales are likely to be uneven in the months ahead from several market frictions.” These could include decreasing existing home inventories, as well as more restrictive lending standards, along with the potential for higher interest rates in the long-term.

In addition, while it is unclear at this point, the ongoing government shutdown could also pose potential longer-term complications from agencies, such as FHA (Federal Housing Administration), the IRS, and others, being at least partially shutdown or closed all together. External pressures such as these also could have a longer-term impact on the market itself.

However, according to NAR President Gary Thomas, “As the equity position of most homeowners continues to improve, some who have been on the sidelines will list their home for sale,” he said. “Most of those owners also will be buying another home, but higher levels of new home construction going into 2014, combined with some reduction in demand from less favorable affordability conditions, will help to moderate price growth to more sustainable levels.”

What does this all mean for you? Right now, there are still many great properties available in the Great Smoky Mountains real market, and if you are interested in buying a new home, today is the best time for you to realize your dreams of home ownership. Please feel free to browse our available properties, and see what we can do to help you find a new home here in the Great Smoky Mountains today!

Here Are A Few of My Featured Listings:

Great Mountain View Consistently produces income in the high $20k range. Cabin with a view, tongue and groove throughout, wood floors, recreation room with pool table and air hockey for your enjoyment. Type: Single Family Home Location: Pigeon Forge Price: $239,900 Get more information >

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 >

Close Up City & Mountain Views Almost $50,000 in rental income for 2012! This is designed to be a year around home or an income producing rental. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $439,900 Get more information >

Heading Into October, The Smoky Mountain Real Estate Market Remains Steady in Terms of Slow, Gradual Growth

Posted by Gatlin on October 3, 2013

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

In the category of Residences Sold, we see that in comparing September 2013 to that of September 2012, the number of residences sold is relatively unchanged, showing only a one (1) home decrease from September 2012 to September 2013. 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 steady at the moment, 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 September of this year, as opposed to through September 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, along with continuing to show a slow 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 slow, but gradual, rise of 5% in September of this year versus that of September 2012, reflecting the recent local and national trends towards higher home prices. As inventory continues to decrease, we expect prices to continue their slow and gradual increase, in line with both national and local trends.

In addition, available homes on the market are actually holding relatively steady at the moment. Through September 2013, as opposed to September 2012, the percentages are relatively unchanged (0%), and actually show a two (2) home increase in housing inventory. As activity continues to remain steady, we expect to see a steadiness, and possibly a decline, in the available housing inventory in the near future.

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:

Unique, Private Home Close to Gatlinburg Unique, private, wood-style home located only mins. to downtown Gatlinburg. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $139,900 Get more information >

Rustic Charm – Modern Comfort Over $20,000 in rental income in both 2011 & 2012. This log cabin nicely displays a nice balance of rustic charm blended with modern comfort. It features true log construction with high ceilings and an open floor plan. Type: Single Family Home Location: Chalet Village Price: $139,900 Get more information >

Federal Reserve’s Latest Message May Encourage Greater Short-Term Housing Affordability

Posted by Gatlin on September 26, 2013

In a surprise move, the Federal Reserve voted last Wednesday to continue its stimulus through the buying of securities, including the continuation of purchases ofagency mortgage-backed securities at a pace of $40 billion per month, as well as longer-term Treasury securities at a pace of $45 billion per month. This went against the expected and anticipated notion that the Fed was considering tapering, or slowing down, of its stimulus efforts.

In its decision, the Fed cited concerns regarding the rate of growth in the economy as a whole, as well as concerns about the recent trend of rising mortgage rates at a time when the housing market is starting to recover from the Great Recession of 2008.

At a press conference last Wednesday, Fed Chairman Ben Bernanke stated that the Fed, by its decision, is “avoiding a tightening until we can be comfortable that the economy is in fact growing the way that we want it to be growing.”

One of the significant impacts of this decision was that The Fed’s bond purchases benefit borrowers by pushing down long-term interest rates. The yield on the benchmark 10-year Treasury note dropped sharply after the Fed announcement. Rates on mortgages and many other consumer and business loans tend to parallel the 10-year Treasury’s yield, and also saw declines in rates following the Fed announcement.

According to Gus Faucher, a senior economist at PNC Financial Services Group, “It helps people who are looking to buy a house in the near term.” In addition, Mr. Faucher also stated that “it makes housing more affordable. That’s one reason the Fed decided not to act — to make sure the recovery in the housing market continues.”

What does this all mean? Essentially, the Fed decided not to discontinue the buyback of asset-backed securities, at least for now, due in part to concerns about rising mortgage rates and their impact on the housing market, which has been gradually improving throughout this year. Therefore, the expectation is that there will be no tapering by the Fed, and any efforts to decrease the Fed’s stimulus will not occur in the short term, thereby keeping mortgage rates lower, at least for now.

Why not consider buying a new home in the Great Smoky Mountains today? We have many great properties available, and with still historically low mortgage rates, today is the day for you to realize your dreams of home ownership! Please feel free to browse our available inventory of homes today, and then contact one of our buyer specialists today to how we can help you find a new home! Take the first step today in finding the home of your dreams, right here in the Great Smoky Mountains!

Here Are A Few of My Featured Listings:

Luxurious Log Cabin Mins. to Dollywood! Spacious, luxurious 5 BD/4 BA home located mins. from Dollywood and Pigeon Forge! Type: Single Family Home Location: Pigeon Forge Price: $289,900 Get more information >

3.84 Acres & On The River Beautiful river frontage along the middle prong of the Pigeon River, known and verified to be the cleanest in the state. Beautiful, 30′ deep pool and huge boulders create a scenic park like setting. Type: Single Family Home Location: Sevierville,TN Price: $259,900 Get more information >

Wears Valley Luxury You’ll notice the unusually high quality construction from the moment you pull in the driveway. Type: Single Family Home Location: Pigeon Forge Price: $575,000 Get more information >

Recent Public Perception of Real Estate Industry Trending More Positive, and Shows Increasing Consumer Confidence

Posted by Gatlin on September 12, 2013

Based on a recent poll conducted by Gallup, the American public’s perception of the real estate industry is beginning to improve to levels not seen since 2007, before the onset of the economic downturn in 2008. The improvements in ratings of the real estate industry likely are due to the recent recovery of the housing market from the depths of the housing crisis.

In addition, this recent public opinion reversal is largely attributed, based on the Gallup survey, to broader improvement in the economy, as well as increased consumer confidence, resulting in a more positive view on the part of the public related to the real estate industry as a whole.

Furthermore, a recent report from Fannie Mae shows that, despite recent rises in mortgage rates, consumers do expect home prices to continue their recent steady rise. One additional trend worth noting is the month of July also saw where consumer credit increased $10.4 billion (or 4.4% annualized), as non-revolving credit increased 7.4% and revolving credit fell 2.6%, continuing a trend where consumer credit has increased every month since August of 2011. This indicates that credit is becoming easier to obtain, which could help in increasing consumption and economic growth. As such, this potentially bodes well for homebuilders, who have also seen recent gains, in line with increasing home prices.

What does all of this mean? We see that these trends, as well as the public’s perceptions, are continuing to show a gradual growth in real estate nationally. However, while mortgage rates have been on the rise, such rates are also still at all-time historically low levels. Therefore, why not consider looking for a new home in the Great Smoky Mountains area today, with many great homes still available to choose from? Please feel free to browse our available properties today, and see what the Smoky Mountains have to offer for you. There are many great homes still available for you to take advantage of, and you can realize your dreams of owning a home today in the beautiful Smoky Mountains!

Here Are A Few of My Featured Listings:

Spacious Home w/Great Mtn Views Spacious home full of character & detail. A vintage door from the 1890’s welcomes you inside where you will find vaulted ceilings, lots of windows and lots of unique spaces. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $359,200 Get more information >

Privacy & Mountain Views Enjoy privacy, mountain views and great outdoor spaces in this Sevierville log home. Inviting and comfortable it features soaring ceilings, a breakfast bar, tile counters in the kitchen and much more! Type: Single Family Home Location: Sevierville,TN Price: $359,900 Get more information >

Beautiful Mountain Sunsets Incredible large diameter log construction creates a special, solid, and timeless appeal. Type: Single Family Home Location: Pigeon Forge Price: $450,000 Get more information >

Tag: real estate