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 >