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Smoky Mountain Market Report 3-1-2018

Posted by Gatlin on

 

Featured Properties:

Country living close to city life- the best of both worlds!

$419,900  ID# 214632

3 BD/2.5 BA, 4,600+ sq ft country ranch home in Wears Valley.  Ideal as a permanent, 2nd home, or rental property.  Over 5 acres of beautiful private property with a mountain stream.  More info

 

Stunning Views!

2 BD/2 BA, 1,600+ sq. ft. log cabin w/ some of the most amazing eye popping views of the Smokies, Dollywood, Bluff Mountain & Pigeon Forge lights that you will see in our area. Income around $52K annually.  More info

Water, water, everywhere!

Posted by Gatlin on

Enjoy the rivers, streams and waterfalls in the Smokies all year!

There are over 2900 miles of rivers and creeks in the Smoky Mountains.   The first thing most folks think of are the mountains, but what would the Smokies be without the streams and waterfalls?   There are lots of ways to enjoy the water in the park.
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Waterfalls!

There are more than 100 prominent waterfalls and cascades within the park boundaries.   Many are only a short hike away.   Our own agent  Keith Garnes is an expert on waterfalls if you would like to know how to get to any of them.

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Fishing!
You can fish for trout all year in the Smokies.    The park offers a wide variety of angling experiences from remote, headwater trout streams to large, cool water smallmouth bass streams. Most streams remain at or near their carrying capacity of fish and offer a great opportunity to catch these species throughout the year.
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Spectacular Riverfront Listings:

338 S Highway 32 , Cosby, TN 37722

$327,000  ID#: 214419
2 BD/2 BA, 1,600+ sq ft, log cabin,  4+ acres of beautiful land, & right along the border of the Great Smoky Mtns. Nat’l Park. Currently on a well-established rental program.  More info
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Lots 13 & 14 Riversong Way, Gatlinburg

$299,900  ID#: 189860

Located along the pristine Middle Prong of the Little Pigeon River, which has been declared by the State of Tennessee to be cleanest river in the entire state of TN.   More info

Mortgage rates rise

Posted by Gatlin on

Mortgage rates rose for the sixth week in a row, according to Bankrate’s weekly survey of lenders. The 30-year fixed-rate mortgage climbed 7 basis points to 4.51 percent. That’s the highest point for the 30-year fixed since April 2, 2014, when the average rate was 4.54 percent.

Meanwhile, the housing market isn’t showing any love to potential homebuyers this week as inflation fears and market jeers added additional pressure to mortgage rates. The Consumer Price Index, released Tuesday, showed higher prices than expected. That, combined with lingering jitters from last week’s volatile stock market are likely responsible for the dip in this week’s mortgage applications. 

Although mortgage applications decreased 4.1 percent from one week earlier, according to data from the Mortgage Bankers Association, they’re still showing a double-digit increase from this time last year.

“Mortgage applications for new homes surged in January and were up 18 percent on a year-over-year basis,” said Lynn Fisher, MBA Vice President of Research and Economics. “This complements other positive news on U.S. job growth suggesting that economic fundamentals are strong.”

 

Featured Listings:  Price Reductions

2924 Nuns Cove Road   Sevierville, TN 37876

$485,000    ID#: 211855

76+ acres , 4 BD/3 BA, 2,200+ sq ft, contemporary-style mountain chalet.   Ideal as perm res., 2nd home or overnight rental.  privacy, comfort, & solace in a great mountain setting.   More info

 

 

413 Hicks Rd. Sevierville, TN 37862

$447,800    ID#: 212271

5000+ sq ft, 4 BD & 3 BA amidst a beautiful, centrally located neighborhood just off the Parkway in Sevierville. Mountain Views, beautiful architecture.  More info

It is so sweet to be in the Smokies right now!

Posted by Gatlin on

 

Reasons to love coming to the
Smokies in February

 

 

 

 

Less Crowds

We could not be more thankful to be located next door to the most popular national park in the country, The Great Smoky Mountains National Park.  However, with the popularity, this also means that visitors here are also accustomed to the high amount of traffic that is associated with it.

Come to the Smokies this winter.   Not only are there fewer crowds on the streets, but there is also not as many guests waiting in line at the many popular attractions, shops and shows in the area.

Warmer Weather

Believe it or not, winter in the Smoky Mountains does not always mean that guests will experience uncomfortable freezing temperatures. Yes, the weather is a lot chillier than what you would find in the summer and spring, but it is not so cold that you won’t be able to go out and enjoy anything while you are here.

In fact, the average highs for the months of December, January and February are normally around the mid to low-50’s. That being said, it is not uncommon for us to see a day where the temperatures rise to the mid to upper 60’s.

If you love the cold, all hope is not lost. The average lows for these months are known to dip below freezing for a couple of days.

Better Views

When you think about winter in the Smoky Mountains, it is easy to imagine a rather dreary scene. The leaves have mostly all fallen from the trees and there isn’t much lush foliage. However, what you may not realize is that this is actually the best time to see the Smoky Mountains.

Because there is not as many leaves and trees to obstruct your view, you and your family are more likely to get a full panoramic view of the scenic mountains from wherever you are in the area.

Cheap Smoky Mountain Cabin Rentals

Last, but not least, one of the biggest perks for families and guests traveling to the Great Smoky Mountains National Park in the off-season is the abundance of cheap Smoky Mountain cabin rentals. Because the demand for these rentals isn’t as high in January and February, the price per night stay is significantly lower than say around the holidays or in the middle of the summer.

 

Featured Listings:
Sweetheart deals!

 

Snuggle Up With This Cabin:

$214,900   ID#: 214183

2 BD/2 BA, 1,300+ sq ft, true mountain log cabin, located in the scenic Waldens Creek area.  Ideal as a permanent or 2nd home, or as an overnight rental.

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Three Cabins, river frontage, acreage,
mountain views all in one!!


This spectacular 15.48 acre property includes 820′ of French Broad river frontage, river bluff,  amazing views of the Smoky Mountains, pasture, barns and three exquisite residential structures. 

 

This estate would serve wonderfully as a gentleman’s farm, multiple generation residence, wedding and event center, or as a group of unique vacation rentals. Amazing value considering 4/16 appraisal of $1,070,000.

 


Fantastic location; only 26 minutes to downtown Knoxville, 10 minutes to Sevierville, 10 minutes to 7 Islands State Birding Park.

 


A truly unique, rare opportunity.  More pics and information

Market Report for the Smoky Mountains

Posted by Gatlin on

 

Featured Listing:

This cozy cabin won’t last long.  Great price, great cabin!

1044 Little Cove Road , Sevierville, TN 37862

$139,900  ID#: 214117

Cozy 1 BD/1 BA log cabin, located in Wears Valley.  Beautiful wooded location, along with mtn. views, large studio-style great room, complete w/high, vaulted ceilings, F/P, kitchen area, dining area, living room area, in-room whirlpool, & master BD, private master BA, which includes utility room.  Has a front & rear porch/deck and hot tub. Great little vacation home or rental.  Made 20K last year.   More info 

 

Government Shutdowns

Posted by Gatlin on

How do government shutdowns affect the housing market?

When a government shutdown happens and until business as usual resumes, homebuyers and sellers could be in store for headaches — but not any long-term setbacks.

During a shutdown, the Internal Revenue Service (IRS), Social Security Administration and the Department of Housing and Urban Development (HUD) furlough large swaths of workers, significantly delaying mortgage approval until work resumes.

Banks and private lenders will operate as usual, housing experts say.   But the mortgage applications they approve or deny include tax records and financials requiring certification.  Fannie Mae and Freddie Mac, despite being government-sponsored enterprises, are not government agencies — and therefore are not affected.

The overall impact of a shutdown on the economy or housing market, however, will likely be negligible, since mortgage approval would resume eventually, said economists at Redfin and the National Association of Realtors. In October 2013, during which the government shut down for two weeks, sales volume declined modestly nationwide and in Washington D.C. but rebounded soon after government employees returned to work, according to Redfin data. Total sales volume declined 16.9 percent, month over month, but rebounded over several months.

“At the time it was a big deal for the government to shut down for a couple of weeks and there was a lot of concern, but what that ended up being was just a blip on the radar screen for both housing and the economy,” Redfin Chief Economist Nela Richardson said.  “It didn’t really amount to a hill of beans. So maybe there’s a false comfort that we can easily shut down the government without economic impact. That could be proven wrong, but what we have to go by is what happened the last time around, and it just didn’t make that much of a difference.”

The Department of Veteran Affairs will continue to guaranty loans through a shutdown, covered in the VA’s contingency plan.

The National Flood Insurance Program officially lapses with the government shutdown. If your home requires flood insurance, certificates will be available, but Flood Insurance policies will not until the government is fully operational.  This may delay closings.

Internal Revenue Service  closes and suspends the processing of all forms, including tax return transcripts. Loans that require social security verification will not be able to close until the Social Security Office is open and available to perform verification services.  Internal Revenue Service will search for a valid social security number for information inconsistencies that may have been reported to us by the Credit Bureau.  This will assist in raising a red flag if there is possible ID theft.

Tennessee Housing Development Agency loans will grant an exception to tax transcripts.

Department of Housing & Urban Development will not be available until the shutdown is resolved. Their website & social media may not be updated during the lapse of federal funding.  No new commitments for USDA/RD loans will be issued as their underwriters will not be reviewing files until the shutdown is resolved.

Federal Housing Administration will continue with normal workflow for Direct Endorsement Lenders, like MIG.
HUD has released an Operations & Systems Availability During Government Shutdown document.
Due to the lack of staffing at FHA/HUD, your loan has a chance to be delayed.

Fannie Mae & Freddie Mac will continue operating normally since they do not depend on the federal budgetary process for their money.

 

Featured Listings:
Get away from it all with your home in the Smokies

$199,900   ID#: 213963
Private, 3 BD/2 BA, nearly 1,600 sq ft, just minutes to dwntn Gatlinburg. Ideal as a permanent or 2nd home.  More info

 

$448,800  ID#: 212271
Atop 1.49 beautiful acres, architectural gem of 5000+ sq ft, 4 BD & 3 BA.   More info

 

Winter Games in the Smokies

Posted by Gatlin on
Winter TN Special Olympics Jan 28-30th

One of the more rewarding events you can experience in Gatlinburg are the Winter Special Olympics  that occur every January at Ober Gatlinburg.  It’s a great way to not only enjoy all the amenities offered at Ober, but also a way to cheer on some of the most deserving athletes you’ll ever meet.

Visitors are encouraged to come cheer on our Tennessee Special Olympics athletes as they compete for the gold and earn medals at their annual Winter Games.Over 150 athletes with intellectual disabilities will compete in Alpine Skiing & Snowboarding and Speed Skating.

Special Olympic athletes have a real passion for what they do and live up to their highest potentials both on the field and off.  Not only are the Special Olympics about competing with one another for medals and prizes, but it is also about having fun, meeting new friends, becoming part of a team and learning new skills along the way.

Whether you have friends and family that are competing in the Tennessee Winter Special Olympics or are simply visiting the area, this is an amazing event to attend.  There is a tram available at the bottom of the mountain that can take guests up to Ober Gatlinburg.  Watch competitions in Speed Skating, Alpine Skiing and Snowboarding at different levels from beginner to advanced.

 

Featured Listing:

1166 Ski View Dr.   Gatlinburg, TN
$349,900   ID#: 213840
Beautiful 4 BD/2 BA, nearly 1,900 sq ft, log cabin, located off Ski View Drive, complete w/amazing views of Mt. LeConte & Ober Gatlinburg Ski Resort from two levels. Ideal as a permanent or 2nd home, or as an overnight rental.  More info

2017 Year End Market Statistics for Sevier County, TN

Posted by Jason White on

Days on market ranged from 191 to 146 this year. DOM peaked in March at 191 days and fell to 146 by November for a reduction of 23%.

List to Sale Price Ratio in 2017

 

Average List Price was lowest in January and rose until December, with a slight dip in August and September. From $226,192 in January to $248,656 in July, followed by a dip to $242,361 in August with a continual rise until December to $252,833. A rise of 11% and a $26,000 change. 

Average Sale Price was lowest in January and rose until December, with a slight dip in August and September. From $215,541 in January to $237,767 in July, followed by a dip to $232,212 in August with a continual rise until December to $241,432. A rise of 10% and a $22,000 change. 

List to Sale Price in 2017

 

List to sale price ranged from 93.4% to 96.1% this year. List to sale price peaked in September to 96.1%, and was the lowest at 93.4% in February. 

Average Days on Market in 2017

Why now is the time to sell and buy vacation homes in the Smokies

Posted by Gatlin on
Why sell now and why buy now?  

Many of our clients are investors or have second homes in our area.  Is now the time to sell your rental cabin or buy one?

The market is strong for cabins and currently under-supplied.

January and February are strong sales months.  We tend to get serious investors in those months because they know cabins are easier to show with less occupancy.  They understand buying earlier in the year means they’ll receive spring break, summer, fall and holiday income.  That type of educated buyer is of the highest quality and they are more prevalent in the first quarter.

If you’ve been thinking about selling let us know.  We’ll be happy to evaluate your property free of charge.  Together we can determine if now if the right time for you.

 

Featured Properties:

Fantastic Cabins, Amazing Views

 1614 Bluff Ridge Rd.  Sevierville, TN 37876
$439,900   ID#: 213816
3 BD/3.5 BA 2434 sq.ft log cabin with a terrific mountain view,  $70,000 in rental income last year, making it one of those rare finds. Sure to sell quickly.   More Info
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$349,90  ID#: 213840
4 BD/2 BA, nearly 1,900 sq ft, log cabin, located off Ski View Drive, complete w/amazing views of Mt. LeConte, the Smokies, & Ober Gatlinburg.  Ideal as a permanent or 2nd home, or as an overnight rental.  More info

Market Report for the Smoky Mountains

Posted by Gatlin on

 

 

Featured Properties

Price Reductions

$456,800    ID#: 212271

Architectural gem of 5000+ sq ft, 4 BD & 3 BA amidst a beautiful, centrally located neighborhood. Mountain views.   More info

 

 

Spacious, 3 BD/2 BA contemporary-style mountain chalet, complete w/an attached 2-car carport.  Only mins. to dwtn. Gatlinburg, the Nat’l Park, & much more.   More info