Official August 2010 Pending Home Sales and Housing Affordability is Great for Gatlinburg Real Estate

Posted by Gatlin on
Sunrise on Mt LeConte

 

The entire spectrum of Smoky Mountain real estate is currently enhanced by NAR’s data for August 2010.  As the country’s largest trade association, the National Association of Realtors uses some of its’ resources to supply members with nation-wide statistics on realty sales.  This data helps individual members better understand cycles in their own local markets.  There are 2 indices for August 2010 that are highlighted for this week’s blog.  The first index for our inspection is the Pending Home Sales Index.  Our blog has often referred to the PHSI.  This index is a future-oriented indicator.  It tracks home sales that are under contract, but not officially closed. Typically contracts on the PHSI officially close within 1-2 months.  New blog readers can trace the links on the specifics of the PHSI.  The NAR statisticians show that July 2010’s figure of 78.9 rose 4.3% to 82.3 in August.  The July and August 2010 index totals have shown increases, but they are below the August 2009 level of 103.0.  All of these need to be viewed in the light of federal government stimulus.  Last year’s figures were massively driven by federal intervention.  The current national real estate market is struggling to find it’s way back to a free market, outside of government stimulus.  This will take time since other related areas of our economy are also undergoing government intervention.   

Another influential index of note is Housing Affordability.  Current data shows that qualified buyers will find suitable factors enhancing their housing purchase.  First and foremost is the influence of low mortgage interest rates.  This along can make a home purchase very affordable.  The second key item in property purchases is the initial property costs.  Prices are certainly off their highs in almost all areas of the nation.  Most markets are seeing prices stabilize.  In prime real estate areas, prices on property may be starting to increase.  NAR Chief Economist, Lawrence Yun, cautions everyone that recovery in real estate takes time.  Factors like; job creation, consumer confidence, low inflation, and low interest rates are keys to sustained economic improvement.   

If you are considering a property purchase here in the East Tennessee Smokies, now could be a great time.  It is challenging to predict future events with precise knowing.  However, current conditions are favorable and other investment arenas are potentially more risk-prone than real estate.  Begin your search on our website in the comfort of your own home.  When it is time to finalize your purchase, the experience and expertise of the Jason White Team is available to turn your dream into reality. Contact us to get started today.   

Here are a Few of My Latest and Current Listings:  

Privacy with 5 acres!
If you are looking for privacy with acreage this is it! Covered porch with hot tub overlooking property with large boulders. Open floor plan with master on second floor and walkway leading to covered porch. Great rental history!
Type: Single Family Home
Location: Chalet Village
Price: $179,900
Get more information >
Corner Condo with Spectacular Mtn Views!
Ground floor, corner unit with spectacular Great Smoky Mountain views. Wonderful indoor facility w/ pool as well as an outside pool.
Type: Condo
Location:Gatlinburg ,Tennessee
Price: $92,500
Get more information >
Top Floor w/ Best Mountain Views !!
Best views in the county. Really close to the Great Smoky Mountains with direct views of large peaks and city lights of Gatlinburg. This top floor condo is furnished nicely with access to outdoor pool and indoor pool area with amenities.
Type: Condo
Location:Gatlinburg ,Tennessee
Price: $117,000
Get more information >

Is a Gatlinburg Home For Sale, Your Next Purchase?

Posted by Gatlin on

Today’s blog examines local residential property statistics and the status of Tennessee Smoky Mountain real estate.  The source for this blog comes from the Great Smoky Mountain Association of Realtors.  GSMAR is a great local association that among many duties, provides it’s members with data on sales in a variety of real estate categories.  This information can often be used to predict market trends, and aid people in buying or selling their property.  As we have mentioned in previous blogs, market trends are best spotted in examining large spans of time.  However, year-to-date comparisons can prove helpful to determine personal timing for selling or buying investments, like real estate.  As we get into these statistics, bear in mind a caveat, that bears repeating.   Today’s financial markets from; real estate to intangibles, are seeking their own balance.  At this stage, many areas like real estate have been artificially manipulated by government and global forces that have distorted their “free market” direction.  When you view current statistics, realize that government intervention brought many first-time home buyers into the residential markets to claim their tax credit.  This acceleration of home buying is bound to create a slack period, once the federal stimulus ends.  This “end of stimulus” period is where we are currently.  Factor this into your personal evaluation of our residential sales figures that compare 2009 to 2010 year-to-date (at the end of September 30th for each year).

In total residences sold, 2010 is leading by 119 at 1,158.  This is an 11% increase.

Dollar volume sold year-to-date shows the current year down by 17% or $38,831,402.00.  Sales through September 2009 were $234,825,691.00.

Average residence sold is greater last year at $226,011.00.  2010’s average residence is 25% lower or $56,759.00 less. 

 

The 2010 category for active listings is greater by 833 (13% higher) with a total of 7,024 listings.  These categories reveal that first-time home buyers and discounted foreclosure/short sales are driving forces in the stimulus era, and beyond.

Today’s residential market requires sellers to stage ,and price their property strategically to move them quickly.  Qualified buyers will find ample opportunities to select great real estate.  Mortgage interest rates are very low.  There are numerous selections in property inventory.  Prices appear to be stabilizing, but they are off their highs.  The turbulence in other financial markets with; increased risk and low yields, could make a home in the Smokies, the perfect choice.  Go online or call us today, to get started on an exciting adventure to find your property.

Here are a Few of My Current Listings:

Location, Location, Location/ Great View
Great location on top floor and corner unit! The mountain views are breathtaking. Amenities include pool, hot tubs, and sauna.
Type: Condo
Location: Gatlinburg ,Tennessee
Price: $99,500
Get more information >
Mountain Villa w/ Private Pool
Mountain villa with private solar-heated salt water pool and cabana on a peaceful lakefront setting. Chef’s dream kitchen and fantastic mountain views.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $799,000
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 >

Considering Real Estate in Gatlinburg For Sale?

Posted by Gatlin on

 

NAR’s existing home sales numbers for August are complete, and they may influence your search for Smoky Mountain real estate.  The National Association of Realtors represents over a million members across the United States and it compiles data relevant to all aspects of the nation’s real estate market.  Data for existing-home sales has been used to track home purchases in America.  Since 1999, existing-home sales have included; single family homes, as well as; condos, townhouses, and co-ops.  These other home components were added to single family homes, because of their significant numbers as residences in large metropolitan areas.  The existing home sales data reflects completed monthly transaction totals for residences.  These are seasonally adjusted.  The monthly figures have more relevant trend significance, when they are compared over larger spans of time and from several different perspectives.  The current period is a good example.  To some readers, the decline of the last few months might appear grim.  However, when viewed longer term, and with the perspective that artificial government housing stimulus has just ended, that conclusion could be inaccurate. 

To gain some perspective, let us back track slightly.  April 2010 was the last month for federal stimulus.  Contracts had to be signed by the end of April, but there was some flexibility on official closing dates to qualify for the tax incentives.  The government intervention obviously beefed up April 2010 sales, by driving buyers into the market to get their cash.  The April 2010 number of 5.8 million looks robust, compared to an anemic 3.8 million in July 2010.  The improvement to 4.1 for last month (August 2010) is encouraging.  Some readers might feel that August 2010’s numbers, while improving, is still below the 5 million range we saw in much of last year. 

However, let us examine some of the potentially beneficial aspects in today’s property markets.  Despite much uncertainty in all investments, real estate offers a tangible place to park some portion of one’s savings.  Properties can be a fun  destination for generating rental income, as a vacation getaway or future retirement home.  NAR’s Chief Economist, Lawrence Yun points out that the residential property market is slowly recovering on it’s own, after substantial government support.  The August increase could be an indicator of this recovery.  The national median existing home price in August 2010 was $178,600 for all types.  This is up 0.8% from last year.  Any increase is impressive, given that deeply discounted properties, like foreclosures, currently make up about 1/3 of all real estate sales.  NAR President Vicki Cox Golder, feels many people are caught in the cross-fire of; Wall Street, the economy’s uncertainty, and housing’s positive aspects.  Prices seem to be stabilizing, interest rates for qualified buyers are low, and there is ample inventory of property for any category of real estate.

                                          

                              

Market timing is never an exact science.  Prices can go up or down. Each family or person must decide for themselves when to buy or sell.  When you are ready to move forward on TN Smoky Mountain real estate, visit us first.  We are leaders in fine Tennessee Smokies’ property.  Let us put years of area knowledge and expertise to work for you.  Contact us by phone at 877-678-2121 or go online to get started today!

Here are a Few of My Latest and Current Listings:

Fully Furnished and Ready for Rental
Great deal on a three level home that is fully furnished. Large bonus room that could be a theatre/bonus room.
Type: Single Family Home
Location: Chalet Village
Price: $179,900
Get more information >
Level Parking/Great Views of Mt LeConte!
Totally updated chalet with huge wrap around deck to enjoy the spectacular views of Mt LeConte. Private master with sitting area and custom tile shower and 2 shower heads and updated gourmet kitchen. Sold fully furnished and short walk to community pool.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $249,900
Get more information >
Contemporary Mtn Home w/Mt LeConte View
This contemporary mountain home as been updated. It offers amazing Mt LeConte views with master on main level and two bedroom suites and living room downstairs for privacy. Already on a rental program and producing great income.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $399,900
Get more information >

Autumn in the Smoky Mountains is Special

Posted by Gatlin on
Fall color is coming!

 

Many people have homes in Gatlinburg and other areas throughout the Tennessee Smokies.  Most folks will agree that Autumn here in the Smokies, is uniquely special.  For one thing, the biodiversity of the trees and plant life is greater in this area, than most places on our planet.  This diversity expresses the fall leaf color in an incredible display.  To add to this cornucopia of color, we have it displayed in a dramatic three dimensional presentation of mountain topography.  The display is further enhanced by the element of elevation.  The highest peaks above 6,000 feet are more in sync with the northern U.S.  Trees up high will begin their leaf color change and eventual drop, way before the low valleys and hollows.  The autumn process is opposite the leafing out of Spring.  Springtime sees the green of leaves move up the mountains and fall starts out high and moves down.  This magical display provided by the forces of Mother Nature is further enhanced by our own internal clocks.  The circadian rhythms go off inside just about everyone.  That little inner voice urges us ever more dramatically. “The hibernation time of winter is approaching! Get out and enjoy the warmth and beauty before it is gone!” Even Mother Nature lends a hand.  Our blistering heat from summer mellows, and the evening temperatures drop to jacket comfort.  Even the intensely-tropical humidity levels back off, as cooler, drier air moves in.  For many of us, outside temperatures are just about perfect.    

Here are Some of the Local Activities Coming Up:    

 With the world of nature putting on the fall fireworks, the human-supplied activities also pick up their intensity. Autumn harvest festivals kick off all over the area.  The “Fall Colors in the Smoky Mountains“event runs September 15th thru November 15th.  Colors can be enjoyed on hikes to; Albright Grove, Andrews Bald, Alum Cave and Mt LeConte, to name just a few.  Auto cruising through; Gatlinburg to Cherokee, Roaring Fork, Greenbriar, and Newfound Gap Rd provide awesome fall vistas.  For outdoor enthusiasts, September 25th-26th has the 11th “Annual Smoky Mountain Trout Tournament“.  The “Smoky Mountain Harvest Festival” begins September 17th and runs through October 31st.  This features great food, and plenty of arts and crafts.  Our local ski resort at Ober Gatlinburg celebrates their Bavarian heritage with an “Oktoberfest“, that runs October 1st-31st.  The Oktoberfest has; costumes, music, food, and drink that take everyone back to life in the German Alps.  This blog barely begins to reveal all the fun and interesting activities available here in the East Tennessee Smokies.    

Go online to get a greater look at all the options you can enjoy.  While online, you can explore the possibilities of owning a home or other property in our area.  The spectrum of opportunities is endless.  You can look at primary or vacation homes, and view rental or other income properties.  All of this can be done at your own pace, in the privacy of your existing residence.  Furthermore, you can set personal parameters that save time in your search.  You receive available properties that only match your particular search criteria.  Begin your search today on our website!    

Here are a Few of My Current Listings:

Update w/ Spectacular Views of Mountains
This updated, meticulously maintained home is a beauty! Enjoy the spectacular northern view of the mountains from a level yard on one of many decks.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $229,900
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 >
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
Get

Positive Aspects for Gatlinburg Real Estate in Today’s Economic Uncertainty

Posted by Gatlin on

Explore the advantages of Smoky Mountain real estate in our current time of unknown outcomes.  In preparing this blog, I drew upon my years of buying and selling East Tennessee Mountain real estate.  I combined this experience with data fresh out of the National Association of Realtors.  Their inspirational article was recently published (Sept 2010) and it explored positive angles in today’s property market.  The NAR research reveals that the economy is finding some stability and there is growth.  Despite the apparent weakness, the private sector is also creating some jobs.  National confidence among consumers is low, but the confidence level has risen off the bottom.  This indicates an improvement.  A highlight in the current market is 30 year mortgage rates. 

 

Qualified buyers will find these 30 year rates at very low levels.  The stimulus plan for home buyers has lessened the huge inventory of homes for sale.  The decrease in homes for sale has led to a stabilizing in median home prices.  NAR research shows that home-price-to-income ratios are at justifiable levels with fundamentals.  The article went on to forecast that NAR economists feel home prices will increase in upcoming years.  The NAR material also states that delinquencies are up.  However, recent loan origination’s with their tighter qualifications are currently performing well.  The data from NAR concluded with the idea that our national recovery could be assisted by long-term gains coming from housing-wealth.

If we take these positive highlights from the September NAR article, they can easily integrate with an investment program to initially purchase or perhaps upgrade a property here in the Tennessee Smokies.  Most stories of successful investing state that the best bargain in any investment portfolio are usually acquired when prices are off their highs and the mass of humanity is uncertain what to do.  Are property prices headed lower?  No one knows for certain.  However, if the government keeps printing money, home prices will most likely rise because new/replacement homes will cost more in materials and labor costs.  This should help drive up existing home costs.  Long term recovery will definitely be linked to job creation from the private sector.  Government job creation is only a temporary fix.  History shows that prolonged government spending without legitimate tax revenues to back that spending, will inevitably harm the nation’s currency.  If current government policies do not change, hard assets like real estate will hold value better than intangible assets.  For some of these reasons, real estate could be a great buy at this time.  As an added bonus, 30 year mortgage rates are quite low.  You could lock in a fine property ranging from a permanent home to a vacation rental.  Location is a key to property value.  It is difficult to find a more convenient, beautiful area, filled with amenities, like the Smokies.  Go online today and get started finding the perfect property investment for you and your family.

Here are a Few of My Current and Latest Listings:

Exceptional View and Location!
Exceptional cabin with exceptional views, amenities, and location. Fully furnished.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $299,900
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 >
Surrounded by The Great Smoky Mountains!
Enjoy total privacy in one of the most picturesque settings in the area. Located in the prestigious community of Riversong and surrounded by The Great Smoky Mountains Nat’l Park you can hear the relaxing sounds of the Little Pigeon River from the decks.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $769,900
Get more information >
Mt LeConte View w/Large Open Floor Plan
5 bedrooms all with in suite baths for privacy. Huge great room for those family gatherings and could walk to trolley to take to town or to National Park.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $350,000
Get more information >

August 2010 Residential Sales for Gatlinburg Homes and Other Tennessee Smoky Mountain Communities

Posted by Gatlin on
August 2010 figures are available for Gatlinburg properties and other communities that make up the Great Smoky Mountains Association of Realtors.  This data can be helpful in spotting trends.  It can also be good in timing when to list, or purchase property.  The examination of August 2010 residential sales begins with the comparision of residences sold. 

Last August (2009) there were 136 residences sold.  Residential sales include; single family, townhouses, condo’s, and co-ops.  August of 2010 dropped 14, to 122 residences sold or 10% off the 2009 August Figures.

In the category of dollar volume sold, August 2010 came in at $22,275,984.00.  This compares to August of 2009 at $22,662,581.00 or less by 2% (down $386,597.00). 

Comparison of average cost of residence sold, favors August of 2010.  August 2010 comes in at $182,590.00 vs $166,637.00 for August of 2009.  This year’s August is up by $15,953.00 or 10% higher.

Active listings sees August of 2010 also leading at 4,083 or 596 more (17% increase).

Long term analysis is needed for accurately determining market trends.  However, some of this market data can be helpful.  Total residences sold, dollar volume sold, and average price per residence sold, may all be sorting out , after the impact of the federal stimulus ended.  Intervention by congress tends to muddy up the waters of the market.  It can take some time for true market trends to clearly reveal themselves, after an artificial stimulus ends.  Data suggests that the first-time homebuyer tax credit certainly fired up the lower-priced entry level of the residential market.  Number of homes sold, total dollar volume, and average residential price were all influenced by the stimulus.  An accurate assessment may not be possible in these categories for some time.  It does appear, that even with the decrease in overall residences sold (off 10% in August 2009 vs 2010), the average residence sale price is increasing and total dollar volume sold is almost even.  Currently the high end of the residential market is not as active as the entry level.  Buyers appear to be more selective and not as frenzied, as they were before the market peak.  With mortgage interest  rates low, and active lisings up, this is a great time to find a dream property.  Prices appear to be stabilizing, yet they are off their peak.  You can test the market, searching out properties in your own free time 24/7. Simply go to our website, search.smokymountainhomesnow.com. You can set up search criteria that exclusively pinpoints your own real estate needs.  This saves you time by providing only those properties that match what you desire.  It only takes a little investment of time to get started on your search.  Start today to find your Smokies dream property.

Here are a Few of My Current Listings:

Authentic Log Cabin/Great Rental Income
Authentic log cabin with fantastic rental history. 2 bedroom & bathroom suites each with total privacy.Amenities include game room,outdoor hot tub,on site pool and is located in the desirable Arts and Craft District to name a few.
Type: Single Family Home
Location: Gatlinburg,Tennessee
Price: $159,900
Get more information >
Pigeon River Right Outside Your Door!
This remodeled riverfront home is a sure to please. With the calming sounds of the Pigeon River right outside your door this completely remodeled home complete with sauna and hot tub are sure to take the stress away!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $329,900
Get more information >
11 Bedroom- Smoky Mountain Stunner!
This 11BD/11.5BA mountain top home is designed with hardwood floors, high quality furnishings and antique decor throughout. A stunning handcrafted cedar staircase, sunroom w/large swim spa, sauna, media room, over 2500 sq ft of decking to enjoy the view!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $1,475,000
Get more information >

Homes in Gatlinburg and Across the Nation See Mixed Results in July 2010

Posted by Gatlin on

Smoky Mountain real estate follows general property trends like much of the nation.  The July 2010 numbers from the National Association of Realtors in Washington, D.C. reveal some interesting results.  July 2010 figures for existing-home sales were substantially lower by 27.2% from June of 2010 and were off 25.5% compared to July of 2009.  The July 2010 3.83 million units sold is at a level equal to 1999, when existing home sales records began.  Existing home sales represents finalized transactions on; single family homes, townhouses, condominiums and co-ops.  Single family homes have typically made up a majority of the existing-home sales.  However, single family house sales are at lower levels not seen since May of 1995. 

Lawrence Yun, NAR’s chief economist, had predicted this soft period in existing home sales.  He expected the rush for the home buyer tax credit, that ended in April, would create this lull .  The Chief Economist expects the soft pace in existing home sales is probably going to continue through September of this year.  Yun is optimistic that housing affordability, combined with very low mortgage interest rates, could boost home sales later on.  The real key in a healthy housing market remains with the creation of jobs throughout our economy.  If serious job creation occurs, the existing-homes sales will increase.

However, there is encouraging news in single-family existing home prices.  The median price for a single-family home was $183,400 in July 2010.  This median price was up 0.9% from a year ago.  Across the county 11 out of 19 metropolitan statistical areas saw increases in home prices.  This price increase occurred even when the overall sales figures were declining.  If you are interested in buying or selling property in the Smokies, the Jason White Team can help.  As a buyer, you can start your search online.  Our website allows you to set parameters specific to your personal search.  Begin now to find that ideal property and utilize some very low mortgage rates.

Here are a Couple of My Latest Listings:

Fantastic Mountain View & One Level!
Want one level living and great mountain views? This home is for you! Private, level ground with yard and southern exposure not to mention the shady covered front porch and sunny open deck with hot tub.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $179,900
Get more information >
Premier View of Smoky Mountains!
Condo with sought after mountain views and 3 bedroom plan. Indoor and outdoor pools, hot tubs and saunas and really close to the Great Smoky Mountain Nat’l Park and ski resort.
Type: Condo
Location: Gatlinburg, Tennessee
Price: $115,000
Get more information >

As Summer’s Inferno Begins to Ease, Will Smoky Mountain Real Estate Heat Up?

Posted by Gatlin on

Homes in Gatlinburg and property sales across the area, often mimic the activity of our local festivals.  It will be interesting to see if Smoky Mountain real estate increases in property sales as we progress into fall.  It seems that most of the world has been resting from one of the hottest summers on record.  Temperatures in East Tennessee have only recently declined from their record heat.  This temperature easing coincided with the beginning of another school year.  The resumption of school sessions reminds us that autumn is only weeks away.  These mountains of East Tennessee are a center of local festivals and community activities that really pick up momentum as the year moves into fall.  With the weather cooling to a more universally accepted range of temperature, people seem to venture out of air conditioned comfort and explore this area in greater numbers.  The beauty of this area seems enhanced, when crossing a parking lot no longer feels like a trek across a recent Hawaiian lava flow.

This week’s blog will hopefully bring you out of your air-conditioned lair, Wherever it is located and entice you to come explore the “Wonders of Autumn in the Smokies”.  Fall brings great harvest festivals all across the area.  Beginning August 1st through November 20th there is a Gatlinburg Farmers Market held each Saturday from 8:00 to 11:30 am at 705 East Parkway in the Alamo Steakhouse parking lot.  It allows visitors to stock their kitchens with healthy local food to supplement all the fun restaurant dining the area also offers.  September 25th and 26th will be the 11th Annual Smoky Mountain Trout Tournament.  Avid anglers can get details by phone or online.  “Fall Colors in the Smoky Mountains” began August 10th and runs until November 15th.  Mother Nature works with the area’s biodiversity and elevation to provide an on going display of color that varies daily, within a multitude of micro climates across the region.  The Smoky Mountain Harvest Festival kicks off September 1st running through October 31st.  It contains numerous activities, but the art shows and Craftsmen’s Fairs are a delight for all ages.  Sprinkled into the mix is the “13th Annual Taste of Autumn.  This is a fundraiser for the United Way of Sevier County.  It allows participants to sample fare from some of the area’s fine restaurants and it allows vendors to showcase their culinary expertise.  Please realize that this blog does not begin to explore the vast array of fun local activities.  Go online to tap the multitude of options available to visitors. 

You might also want to consider purchasing property in the Smokies.  The opportunities for real estate in this area are as vast, as the possible ways to enjoy a visit to our area.  Go online and set your parameters on the Jason White Team website.  You can control your property search from your own home.  When you are ready to view or finalize in person, our expert staff is here to assist you.  Begin today to find your dream property.

Click here for a Few of My Latest Listings:

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: $389,900
Get more information >
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: $149,900
Get more information >
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: $374,900
Get more information >

Adjustment to the July 2010 Sales of Smoky Mountain Homes

Posted by Gatlin on
 

An apology to my blog readers on my report about July 2010’s Gatlinburg real estate and other area property sales.  I pulled data from our Great Smoky Mountain Association of Realtors to put in the blog.  The July 2010 residential sales figures looked rather robust in several catagories. However, I put the figures into my 8/4/10 newsletter/blog.  A short time later, I learned that the data included some large commercial transactions in those residential numbers.  Obviously, this corrupted the stats, so here are the corrected figures. 

July 2010 “Total Residences” sold was 121 vs July 2009 at 145.  This was a decrease of 24 residences or 17% less over July of last year.  These residential figures include; single family homes, condos, townhomes, and co-ops. 

“Total dollar volume” sold and the “average residential sale” were the 2 categories most impacted by the inclusion of the commercial properties.  July 2010 “Dollar Volume Sold” was $18,941,603.  The July 2009 Dollar Volume Sold was $25,725,551.  This July was off by $6,783,948 for a decrease of 26% from July 2009.

All of these numbers lead us to an”Average Residence Sold” at $156,542 in July 2010.  This is less than July 2009’s average sale at $177,418.  The average sale is down $20,876 or a 12% decrease from July of 2009.

The category of “Active Listings” in residences comes in as a winner in July 2010.  This July’s active listings was 4,119 vs. 3,523 for July of 2009.  This leaves last month with 596 more residences listed or a 17% increase. 

Behind these figures, the property market is revealing itself.  Without the huge commercial properties in the mix, the real estate market looks different than my August 4th blog reported.  Smokies real estate is in transition.  The market place is still searching for balance after the end of the federal stimulus. The revised figures do not currently show a pronounced shift toward higher priced homes. Recent activity appears to be focused on the lower priced properties.  However, with active listings on the increase there is a great selection for buyers.  This combined with low mortgage rates, could make this an ideal time to purchase your property in the Smokies.  Click on our website today to get started on your search with the Jason White Team.

Here are a Few of My Current Listings:

1.3 acre w/ Spectacular Mountain Views
Quiet living on 1.3 acres with phenomenal MT Leconte and Smoky Mountain views and lots of level parking. 5 Private suites, with loft and game room located on cul-de-sac. Plus two huge decks to enjoy the incredible views of the mountains.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $449,000
Get more information >
Overlooking Stream in Gatlinburg Condo
This conveniently located condo is only 1.5m from downtown Gatlinburg’s shopping and dining. Even has a woodburning fireplace and balcony to enjoy the beautiful mountain stream.
Type: Condo
Location: Gatlinburg ,Tennessee
Price: $83,500
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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: $495,000
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Smoky Mountain Real Estate and Gatlinburg Home Sales Mirror the U.S. Housing Market

Posted by Gatlin on

 

 Our country’s housing market, like our Smoky Mountain real estate, is still adjusting to life without stimulus money.  My news sources at the National Association of Realtors in Washington, D.C. are confirming widely predicted results for the country’s property sales.  “Pending Home Sales” tracks homes under contract, but not officially closed.  July 2010’s pending home sales index moved lower by 2.6% from June 2010.  NAR’s chief economist, Lawrence Yun had predicted this pullback in housing activity, earlier in the year.   Yun felt that the congressional extension of the homebuyer tax credit would amplify the normal spring homebuyer surge.  The stimulus incentives did bring hesitant buyers into the market.  It worked well at accelerating home purchases across the nation.  In the short term, home prices have stabilized in most areas, as inventories of homes for sale have dropped.

However, it was expected among real estate economists that this artificial acceleration of buyers into homes, would lead to a period of lower home sales, when the federal stimulus ended.  What we are seeing in the current real estate market, is the lull as the market re-adjusts.  NAR’s Yun anticipates some months of reduced home sales during this re-adjustment period.  The chief economist expects a pick-up in home sales later in the year, as long as the U.S. job market continues to improve.  In the short term, inventory of homes for sale may increase, but Yun feels pricing on homes has reached justifiable levels where they should not change meaningfully from today’s levels.  He sees some local markets across the country showing price improvement.  Mortgage interest rates are also expected to remain at these historically low levels for most of this year.  The critical factor in a strengthening U.S. housing market lies in serious job creation across the nation.  NAR’s chief economist feels employment growth is paramount to lasting improvement in the U.S. housing and real estate markets. 

It seems as though most of today’s national real estate news was expected and not surprising at all.  The current real estate environment is still favorable for investment in the East Tennessee Smokies.  Prices are off their highs.  Inventory of properties for sale offer a great selection.  Qualified buyers can obtain historically low mortgage interest rates.  The Smokies provide; a beautiful , centrally-located destination, with great climate, and a reasonable cost of living.  If you are considering a real estate investment, we have everything from; rental cabins to primary and secondary homes.  Jump on our website today and see how the Jason White Team can help you find the property you always wanted.

OPPS!! Our latest figures for the month of July are incorrect. Unfortunately, the figures included commercial and there was a very large sale in the commercial side of real estate which threw off my figures. I usually have figures for residential only. I will have the correct figures in next weeks blog.  My apologies!

Here are a Couple of My Latest Listings:

Ridgetop Property/Heart of Pigeon Forge
If you want peace and quite on top of a ridgetop with phenomenal mountain views, then this is the property for you. Located in the heart of Pigeon Forge.
Type: Single Family Home
Location: Pigeon Forge
Price: $159,900
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Pristine Mountain Views!
Located in heart of Pigeon Forge with all the amenities this property offers a pristine mountain view as well!
Type: Single Family Home
Location: Pigeon Forge
Price: $189,900
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Call today to view these properties or any others!  877-678-2121