In my news sources out of New York that track Standard & Poor’s S&P/Case-Shiller Home Price Indices, there is favorable news. The S&P/C-S Home Price Indices are a well-respected gauge for charting U.S. home prices. This index system utilizes a broad spectrum look at 10 city and 20 city home values across the U.S.  Values peaked in 2006’s second quarter and declined to a bottom in April 2009.  During that drop, home values fell 33.5% in the 10-city composite and 32.6% in the 20-city composite. Values of homes are slowly climbing.  Through October 2009 the 10-city is 29.8% and 20 city is 29.0% off the 2006 peak.  Early in 2009 the indices began to show improvement. The spring and summer seasons showed the typically strong real estate activity and then backed off going into fall.  San Fransisco continues to lead the country on the rebound while Las Vegas continues to search for home price stability.  S&P’s Index Chairman, David M. Blitzer, feels a second dip in home prices is unlikely because of the uniform commitment we are getting from the Federal Reserve. On top of this fed action, sales of  homes have been strong and this continues to eliminate the surplus of home inventory. This surplus inventory has been a big factor in depressing home prices across the country. Dropping the excess inventory can only help to bolster home prices across the board. Chairman Blitzer does advocate using caution in today’s housing market.  Housing starts are weak. Government stimulus for homes expires early in 2010, and there could be increased foreclosures, if U.S. jobs continue to decline.

Factoring in all this information, it still could be a great time to buy or sell property in the Smokies.  Mortgage interest rates are low, and there is ample selection of great homes for sale.  Currently, there are no fantastic high-yield, safe investments out there to park your cash.  Real estate can decline in value, but it is not easily duplicated or inflated like paper assets.  With the Fed cranking out new dollars in bailouts, and aging baby-boomers looking to retire in warmer, beautiful locations, property in the Smokies could be a great investment. Contact the Jason White Team, a leader in Great Smoky Mountains real estate. You can start your search online or call us to get started today on your 2010 Smokies property quest.

                                       Here are a Couple of My Listings:

Value for the Money w/ Incredible Views! This artisan quality home has possibly the best mountain views around. Located in Prestigious Chalet Village, this home would cost over a million $ to reproduce in today’s market. Such a value for your money. It even has an elevator!! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $799,900 Get more information >

Exquisite Lofty Mountain Retreat!! Detail and excellent craftsmanship throughout this lofty mountain home will please even the most discriminating buyer. Complete with an outdoor living space with fireplace that overlooks Mt. LeConte views. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $575,000 Get more information >