Late Winter Real Estate Mirrors our Smoky Mountain Bears

Posted by Gatlin on February 3, 2010

Data just arrived for January 2010 home sales, provided by the Great Smoky Mountains Association of Realtors. The results remind me of our Appalachian black bears. Normally our East Tennessee bears are peacefully denned-up, sleeping soundly with their activity increasing with the arrival of spring. They emerge from dens as nature once again commences growing its banquet of food. Following this timing, the bears increase their activity on a quest for calories to carry them through these cold lean months of winter. There can always be exceptions to behavior in the animal kingdom or in real estate. However, it was not unexpected that January 2010 residential sales are acting much like our well-known black bears. Homesales are backing off, taking a break, before picking up their usual spring-induced activity just like our Smoky Mountain bears.

As we interpret January data from 2009 vs 2010 the strong influence of foreclosures and first-time homebuyers is evident. The total residences sold is up 3% in January 2010, with 77 sold, opposed to 75 sold in 2009.

Quantity of homes sold Jan 2009 vs 2010

Total dollar volume sold in January 2010 is off 8%, or $1,117,240.00 down from 2009’s $14,584,387 figure.

Dollar volume sold Jan 2009 vs 2010

The average sale in January 2010 is down 10% or $19,560.00 from 2009’s $194,458.00 average.

Average sale price Jan 2009 vs 2010

In active listings, 2010 leads 2009 by 15% or 512 more, with 2010 leading at 3,866 listings.

Quantity of active homes Jan 2009 vs 2010

From previous blogs and newsletters, my readers were aware that new homebuyers and foreclosures dominated 2009’s home market. With the extended stimulus package in place through early 2010, these 2 aspects will more than likely continue for at least the early portion of 2010 as well.

If you are considering 2010 as a time to buy or sell property in the Smokies, the current environment is still favorable. Qualified buyers can obtain historically low interest rates on mortgages. Potential weakness in the dollar could make hard assets like real estate a good investment for the future. There are good opportunities to find your ideal property with the current inventory of active listings.

For sellers, well-priced properties at the lower end of the market are selling briskly. This allows one to sell less expensive homes and upgrade into more desireable residences. In either case of buying or selling real estate in the Smokies, contact a leader with a proven track record. Contact us today at The Jason White Team , online or by phone, to get started on your property goals for 2010.

Here are a Couple of My Latest 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 >

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 >

Results from 2009 are in and your support placed the Jason White Team among the elite of the Smokies’ Area Real Estate

Posted by Gatlin on January 27, 2010

Thank You!

This week’s blog is an open letter of appreciation and gratitude to all our clients from the past and present, extending to future clients as well. It is your trust and belief in us that makes this all possible. Because of your client support, the following results occured last year. Our parent company, Century 21 Four Seasons was ranked #1 in real estate sales for Sevier County. The Jason White Team was in the top 5 or top 1% of the Great Smoky Mountains Association of Realtors. It is an honor to achieve this status, especially with the challenging economic environment that has impacted almost every part of today’s world. Once again, thank you for selecting the Jason White Team to represent you in buying or selling your real estate in the Smokies.

As we move into 2010, let me assure you that my team is already working to make this year more successful than last, for our clients and ourselves. The people on my team are continually upgrading their training and education. Our website, www.smokymountainlifestyle.com/ continues to receive the latest tools and upgrades to assist you in selling or buying your property. The intended goal is to make our website as user friendly, as possible. Time is often an overlooked commodity. If we can allow you to search for and pre-screen properties before a visit to the area, you can focus on the top choices. This allows you time to enjoy East Tennessee’s ammenities. The process permits us to better serve you, both as a buyer or seller.

In viewing 2010, as a good year to either buy or sell real estate, there are several factors to consider. Prices in most phases of real estate are off their highs. The current state of East Tennessee property shows that values seem to be stabilizing. Inventoryof homes for sale is declining, but there is still a great selection of properties available. Mortgage interest rates are still historically low, and there are some tax incentives available from the government through early 2010. With uncertainty on the future value of the dollar, this could be a good time to anchor the value of a portion of your savings, in a hard asset like real estate. The Jason White Team has the knowledge and experience to assist you in selling or in buying your property in the Smokies. Call us today!

Here are a Couple of My Latest Listings:

Outstanding Mtn Views, family retreat!!
This classic mountain chalet has spectacular mountian views and used previously as a private family retreat. High ceilings, lots of glass and 2 beautiful mountain stone fireplaces, plus lots of level parking and walking distance to community club house.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $269,900
Get more information >

Fully Furnished Log Home w/Covered Deck
This fully furnished log home has a spacious covered spa tub porch, floor to ceiling glass, privacy and level parking.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $139,500
Get more information >

As Analysts Continue To Digest Data From 2009 Results Show No Digestive Aids Are Needed.

Posted by Gatlin on January 20, 2010

Case-Shiller Report Jan.

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 >

Pending Home Sales Slows, But Remains Above 2008 Levels

Posted by Gatlin on January 13, 2010

My blog readers may recall this expected market action from earlier news reports out of the National Association of Realtors in Washington, D.C., NAR chief economist, Lawrence Yun reaffirmed that the drop in the Pending Home Sales Index was anticipated. Home buyers scrambling to beat the initial deadline for the tax credit caused a wave of activity that crested with the origional deadline for the tax credit. Many analysts at the NAR predicted that the rise in the PHSI would halt as the old tax credit ended and its’ new expanded replacement builds momentum. Yun is optimistic that another surge of new home buyers will enter the market this spring. Although Pending Home Sales backed off its streak of consecutive increases, the Index remains above last year’s levels. NAR’s chief economist thinks the U.S. home market is building momentum on its own, but expects another 900,000 first-time home buyers to utilize the extended tax credit along with 1.5 million repeat buyers. Yun feels that low mortgage rates and increases in job growth will help the real estate market. Excess housing inventory will continue to decrease. All this should help in stabilizing home prices in 2010.

The Pending Home Sales Index fell in all 4 regions of the country. Home sales in the West fell the least. Next in line is in the South, where the Index fell 15.0% to a reading of 97.8, but stayed 14.7% above 2008’s levels. An index level of 100 is equal to the average level of contract activity on homes in 2001. This was the first year the index was used.

If you are considering a real estate purchase in the Smokies, now is a great time. Mortgage interest rates are at historically low levels and will probably increase. Inventory of properties for sale is up, so selection is good. The tax credit is in effect through April 30th and it could put $6,500-$8,000 in your pocket, if you qualify. So if you are seriously thinking about buying or selling Smokies real estate in 2010, contact the Jason White Team. Our expertise and knowledge of the area has made us a leader in helping people buy or sell property in the Great Smoky Mountains. Contact us online or by phone to get started today.

Here are a Couple of My Latest Listings:

Incredible Smoky Mountain/Valley Views!
This home is truly Above and Beyond. Even has an elevator! The mountain and valley views are worth viewing this home! Incredible log details throughout.
Type: Single Family Home
Location: Wears Valley
Price: $699,900
Get more information >

Lots of Windows to Enjoy Mountain View!
Beautiful views from this contemporary home. Lots of windows bring the outside in. If you need storage this home is for you with plenty of closet space and even a separate living space in the lower level with it’s own entrance. Great in-law quarter!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $135,000
Get more information >

A Pleasant Look Back At 2009

Posted by Gatlin on January 6, 2010

As we enter into 2010, it is interesting to briefly review what happened to real estate in the Smokies in 2009. Past results do not always dictate future direction, but they can show trends or motivate us to take action. For our analysis, I pulled data from the Great Smoky Mountains Association of Realtors. The figures I reference are for residential property sold, they do not include; multi-family, commercial, or vacant land. We will compare Jan 1, 2009 through December 31, 2009 versus the same in 2008 a year ago.

In looking at the figures, there is some good news. Like the stock market last year, real estate rebounded with the number of residences sold increasing slightly. The total dollar volume sold and the average residence price sold was off 8% from 2008’s figures. I think it is safe to say that; foreclosures, short sales, and first time home buyers were a driving force in 2009’s real estate market. The active lower price sector of residential sales was driven by first-time homebuyers scrambling to utilize the tax credit. When you combine this activity with red hot foreclosure sales in ’09, it is easy to see why dollar volume sold and average price sold is lower than in ’08. In the area of active listings, 2009 saw an increase of 16% over the previous year.

Taking all this information into account, we can see that residential real estate is still active. For qualified buyers, it is a great time to buy. Mortgage rates are quite low, home prices are reasonable, and there is a good selection of properties for sale. For sellers, there is good news as well. The final months of 2009 brought renewed activity across all price levels of homes. Higher priced homes may not be selling as fast as the entry level home market, but competitively-priced residences are selling. If 2010 looks like your time to buy or sell a property in the Smokies contact The Jason White Team. You can easily get started on our website. Your privacy and time-saving property searches were key elements in building our site. Log on or call us to get started finding your property today.

With Year-End Only A Day Away 2009 Real Estate Was Jump-Started by Government Stimulus

Posted by Gatlin on December 30, 2009

Events from the year 2009 are about to recede into history books. As we get ready to look back at ’09, one aspect stands out. Government stimulus in the form of the first-time home buyer tax credit impacted the US real estate market in a big way. My news sources at the National Association of Realtors, in Washington, DC have analyzed data through the month of November. Their conclusions sync well with what the Realtors in the Smokies already know. November of ’09 saw a scramble of activity from people racing to make the deadline for the homebuyer tax credit. NAR Chief Economist, Lawrence Yun felt that the home buying rush was expected. With the congressional extension and expansion of the home tax credit, more buyers will enter in the market. There may be some decline in activity, as the markets make their seasonal shift from year-end holiday shopping, to a traditionally strong spring new home search. Yun expects home buying to ramp up, as the spring of 2010 progresses and buyers take advantage of the extended tax credit. So far the tax credit appears to be soaking up excess inventory in unsold homes. This has helped to stabilize home prices in much of the US. The stimulus focused on getting first time home buyers into the market. This has created a real demand for lower priced homes, which inturn impacted the national median home price for sold homes.

The government-induced real estate simulus appears to be benefiting the market in a number of ways. We previously mentioned inventories of homes for sale are dropping. Foreclosures, short sales, and other price-distressed properties are quickly being purchased, so their low prices are not around long enough to radically bring down comparable real estate. Pricing overall appears to be stabilizing across the country. Before October of this year, the only real gains were at the bottom of the market. However, for the second month in a row, property sales have risen in all price classes. The median price of sold homes is lower by 4.4% than in 2008, because of the influx of new buyers. The level of sold single family homes is 42.1% above the 2008 numbers. Here in the South, the existing home sales are 44.8% higher than last year and the median price is $151,400, only 1.4% lower than ’08.

If you are considering real estate in the Smokies this could be a great time to buy. For qualifying buyers, mortgage interest rates are close to historical lows. Inventories of property for sale are high enough for good pricing and adequate selection. Start your search on The Jason White Team website. You can define your property search criteria to save time and money. When you are ready to visit or finalize your quest, contact us and we will assist with years of local knowledge and professional expertise.

November Existing Home Sales

Here are a couple of my vacant land properties:

	Spectacular Smoky Mountain View!! Unique opportunity to own a lot like this! Spectacular mountain and city view, with level building site. Type: Land Location: Gatlinburg ,Tennessee Price: $125,000 Get more information >

	Listen To Mtn River From This Property!! Listen to the abundant sounds of nature from this 1.64 acre property with river and mountain views. Amazing that you are only minutes from the National Park, downtown Gatlinburg , and Pigeon Forge with such amenities but yet so private.Type: LandLocation: Sevierville,TN Price: $144,500 Get more information >

Call me today for more information on these properties! 865-436-2121

Many People Dream of a White Christmas but for the Health of the Earth, How about Green Holidays Instead?

Posted by Gatlin on December 22, 2009

Year-To-Date Figures Continue to Show Improvement in the U.S. Real Estate Market

Posted by Gatlin on December 16, 2009

As we approach the end of the calender year, a better picture emerges in the direction of the country’s real estate market. The overall view of the nation’s home prices continues to show improvement toward stabilization. My news sources out of New York released their story on November 24th, 2009. The data was based on findings from the Standard & Poor’s/Case-Shiller Home Price Indices. This model from S&P/Case-Shiller is widely used in the housing industry to measure U.S. home prices. They utilize three views in the indices. There is a U.S. National, a 10-city, and a 20-city composite version in their analysis of data. The decline in the indices was dropping as we proceeded through the year.

Case-Shiller Home Price Indices

Chairman of the S&P Index Committee, David M. Blitzer reports broad improvement in home prices for most of the past six months. Recent gains have been more modest than typically strong summer months. Previous concerns were focused on the drop due to an end to the first-time homebuyer tax credit. Housing starts did back off in October, but the government extended and expanded the tax credit for first-time homebuyers. This extension should bring in additional homebuyers that have been uncommitted at this point.

With home prices approaching stabilization, now could be the right time to purchase your property in the Smokies. Housing affordability is good. The inventory of active listings for sale is high. Mortgage rates are historically quite low. Surf our website for possible purchases. With the homebuyer tax credit recently extended, check with your legal and financial advisors to see if you qualify. In any case, the year-end holiday season is a fun time in the Smokies. If real estate is on your holiday wish list, contact The Jason White Team. We have the knowledge and expertise to fill your holiday property wish.

Here are a couple of my current listings

	Stunning 4 Levels w/ Great Mtn View!! Four level log cabin style overlooks nearby ridges and valley with great night views and lights. Large suites with whirlpools, large great room and media room with projection theater style TV and lots of windows to enjoy the Smoky Mountain views. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $549,500 Get more information >

	Gatlinburg Home with River !! Get lost in the sounds of the flowing river just outside the door of this 1BD/1BA cottage offering all the amenities plus a soothing hot tub designed for perfect placement on the private stone patio.Within walking distance to attractions of Downtown! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $339,900 Get more information >

Call me today for more information on these properties! 865-436-2121

New Historical Record-Nine Consecutive Monthly Gains for Pending Home Sales

Posted by Gatlin on December 9, 2009

This is a unique event in the history of the Pending Home Sales Index. This index for measuring the strength of U.S. home sales was first utilized in 2001. The National Association of Realtors in Washington, DC meticulously tracks this data to predict trends in the country’s real estate. For new blog readers, the Pending Home Sales Index is a future-oriented indicator based on home contracts signed, but not officially closed. Generally, these contracts officially close in 1-2 months after signing. The Index utilizes a large sample (approx. 20% of the nation) of existing home sales. Monthly comparisons often are not as accurate as comparing months of 2 different years or cumulative results year to year. An index reading of 100 equals the average level of contract activity that occurred in 2001. This was the first year it was used and coincidentally was the first of 5 consecutive record years in existing home sales. The index reading for October 2009 was 114.1 or 3.7% above the September ’09 index of 110. This is 31.8% above October of 2008’s index at 86.6. This rise from October ’08 is the largest increase recorded and the current October level is closing in on an all time high. March 2006 holds the record so far at an index level of 115.2 and current readings are as follows: Chart

Let us carefully look into this good news and analyze it in more detail. Lawrence Yun, the NAR chief economist gives us some perspective. Yun feels that real estate in 2008 under performed. Typical activity based on the population growth lagged the market. He feels that the current tax credit for new home buyers is helping qualified renters to purchase new homes. However, Yun thinks home sales could drop in the future, as the demand for new homes backs off due to the end of economic stimulus in real estate. Current market activity is helping high home inventories to decline. This favors price stabilization for real estate across the country.

If you are considering real estate in the Great Smoky Mountains Area, several factors are favorable. First, the inventory for various properties from; homes to rental chalets, and cabins is up, giving buyers a great selection. Another favorable condition is the low mortgage interest rates available for qualified buyers. Locking in a low rate could be a bonus, if inflation drives rates higher in the future. Real estate can be a hard asset that retains it’s value in times of inflation, protecting some of your life savings from getting inflated away. As leaders in Smokies area real estate, the Jason White Team has years of professional expertise and in- depth knowledge of the region to find you the property, that fits your needs. Call or contact us online to get started helping you today. Click here to view my featured listings. Click here to select all local listings.

Here are a couple of my listings

Extra Large Private Lot w/Great View
This updated, immaculately maintained home is a must see! The spacious decking overlooks the beautiful mountain views as well as the extra large lot that is well manicured. The community pool and club house amenities are a bonus.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $199,900
Get more information >

Gatlinburg Home is Close to Town!!
This home has room for everyone! With the fantastic views and outdoor spa it is perfect for families and large groups.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $379,900
Get more information >

With 11 Months Gone, Where Do We Stand With Smoky Mountain Real Estate?

Posted by Gatlin on December 3, 2009

We now have 11/12ths of 2009 recorded as history, so it’s time to see where we stand on real estate in the Great Smoky Mountains. In a month to month comparison of November 2008 versus November 2009 we see a mixed bag of results. November ’09 saw 114 residences sold opposed to 67 in November last year. That gives us 47 more. Certainly a spectacular increase.

In total residence volume sold the past month checked in at $18,800,425. That contrasts last November at $12,779,030. The difference is $6,021,395 or 47% improvement in 2009. Again, a substantial gain in ’09.

In the category of average price per residence sold 2009 comes in at $164,916, where 2008’s average residence sold was $190,732. The difference is $25,816 or 14% less per residence sold in 2009 over 2008.

In active residential listings 2009 again emerges victoriously with 4,087 listings vs. 3,429 in November 2008. The difference is 658 or 19% more active listings in 2009 over 2008.

Figures for Jan 2008-Nov 2008 vs. Jan 2009-Nov 2009

Major trends are easier to see when viewed from a greater time span. To look back at 2009 with only 1 month left we will compare year-to-date figures with similar time frames in 2008. 1/1/09 thru 11/30/09 has witnessed 1,290 residences sold. This same time frame in 2008 saw 1,309 units sold or a difference of 19 less in 2009 or 1% difference. In the category of total volume sold, 2009 had $231,031,528 in residential volume against $252,417,644 in 2008. The current year is off $21,386,116 or 8% down. Average price per residence sold is 2009 at $179,094 vs. $192,832 (in 2008) or currently $13,738 less or 7% off. Current YTD active listings are 8,121 vs ’08 at 6,932. 2009 is 1,189 higher or 17% more.

These figures may reveal some trend activity prevalent in the Great Smoky Mountains real estate. It appears that the stimulus package for new home buyers with the new home buyer tax credit is working. The lower price per residence indicates that new homebuyers are a dominant force in the current residential real estate market. Their influence in purchasing lower priced residences is evident. It appears the national stimulus package in real estate is keeping the market active. For qualified residential homebuyers, this is a great time to purchase a home. Inventories of residences are abundant, so there are multiple options to choose. Real estate mortgage rates are quite low allowing great deals for qualified buyers. In either case, as a buyer or seller, this is a real estate market where you need professional expertise and knowledge of the local area. The Jason White Team is an ally to have on your side in today’s market. We are leaders in Gatlinburg home sales as well as other key areas of the Smokies real estate. Call or contact us online to let us help you find your property in the Smokies. Click here to view my featured listings. To view all our local listings click here.

Here Are a Couple of My Listings

	Surrounded By the Great Smoky Mountains! Nothing has been spared in the design and construction of this magnificent 4BD/5.5BA luxury home located in prestigious Riversong subdivision in Gatlinburg. Type: Single Family Home Location: Sevierville,TN Price: $799,900 Get more information >

	Incredible Smoky Mountain Home &Views !! Prepare to be Awe Struck!! If views are what you are looking for this home is the one! The exquisite workmanship with 5 master suites and huge one of a kind recreation room make this a must see! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $899,900 Get more information >

Call today for more information on either of these listings! 865-436-2121 – Ask for Jason or Stephanie

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