Come Visit and Fall in Love With Autumn Leaf Color in the Great Smoky Mountains

Fall in the Great Smoky MountainsDuring this last full week of September, I saw evidence that Autumn’s first stages of leaf color are getting started here in the Smokies. We have some time before mother nature is at her peak, but as leaf viewers know, that time is approaching. In the past week, only the first few leaves were beginning to drop and decorate the roadways. Early participants in leaf color, like the American Dogwoods, were shifting from deep green to a muted ruddy red. So for all the leaf-viewing enthusiasts who may be reading this blog, get ready, the show is starting.

The unique feature of leaf viewing in mountains like the Smokies, is that leaf color begins at the peaks with highest elevation.  It works down the mountains with the valleys at the lowest elevation getting their fall color last. This elevation feature adds a prolonged period of fall color over other parts of the country where most trees sit at roughly the same elevation making them come into color and drop off in approximately the same time frame.

As most leaf-color enthusiasts know, each year is unique in it’s; time table for peak color, length of time before leaves drop, and in the intensity of the fall color. Scientists have sought out the keys to leaf color, yet much is still unknown. However, the pre-dominant scientific opinion favors the ratio of daylight to darkness as the major trigger in bringing on leaf color. Other environmental factors like; temperature, rainfall, etc. play a roll, but not as major an influence as the length of daily light vs. darkness. I feel that an area’s major weather pattern occuring at the peak of autumn color can definitely influence how long the brilliant colored leaves remain on the trees. For instance, a mild weather pattern with little precipitation and minimal wind is less likely to rapidly bring down leaves. However, a turbulent system of weather accompanied by alot of ; rain, hail, or snow driven by gale force winds can strip the fall color to bare limbs in almost one day.

Leaf color is unique to each species of deciduous plant and can vary among members of a plant species. The colors come from pigments generated through chlorophyll and the photosynthesis process of harnessing sunlight to make sugars within the leaf. Other pigments in tree and plant leaves come from carotenoids and anthocyanins which are compounds that provide color like the orange hue of a carrot. Each species has the same basic pigments and the same general time table for leaf change. The southern Sourwoods turn early in late summer when other trees are still deep green, while oaks put on their color when much of the forest has shed it’s leaves. Once the sugar manufacturing in the leaves has stored up enough plant sugar to see a leafless tree through it’s winter dormancy, the fluid-carrying veins in the leaf stem dry up and seal off allowing the leaf to lose moisture and fall off.  After the spectacular color show of Autumn is through, the grand recycling operation begins. Fallen leaves provide dry, insulating,nesting or den material for forest animals. Other leaves become a food source for molds and fungi enabling a better breakdown that releases valuable minerals and nutrients for the growth and energy of next years forest.

For me this beautiful fall leaf display is a gentle reminder to finish projects before another year ends. If one of your projects is to purchase or sell property here in the Smokies before this year ends, then be sure to contact the Jason White Team. We have up-to-date real estate expertise and knowledge of the Smoky Mountains area. This is a winning combination to find you the real estate you desire.

New Federal-Mandated Lending Changes in 2009 Can Impact Real Estate Closing Dates

Delays in Closing DatesToday’s real estate buyers and sellers need to know that the Federal Reserve has instituted new lending changes for 2009.  These new items can impact when a real estate transaction could close.  Knowledge of these changes and working with them is crucial to assure that a particular piece of real estate closes within important time lines.  Tax planning and the timing of buying and selling assets is key to minimizing tax consequences.  That time element is vital when items like the $8,000 First Time Homebuyer Tax Credit come with an expiration date.  To avoid costly delays in your real estate closing let me briefly explore these new rules.

The 1st change impacts the closing date if the property buyer is financing the purchase. Previously, the buyer and seller chose a closing date and service providers (like lenders) worked to meet that date.  Now the earliest any home purchase transaction can officially close is 7 business days after the homebuyer is issued their initial mortgage disclosures from the lender.  Often Saturdays do not count as a business day so plan closing dates carefully based on the receipt of the initial mortgage disclosure.

The 2nd change effects the collection of upfront fees by the lender.  In the past upfront fees could be collected by a lender at the time of applicaiton either in person or via phone.  Presently, only a credit report fee can be collected upfront.  Other upfront fees can only be collected on the next business day following a business day when disclosures are received. Saturdays and of course Sundays are excluded as business days.

The 3rd change involves the homebuyer’s receipt of the appraisal.  Under new rules the homebuyers must receive a copy of the property’s appraisal a minimum of 3 business days prior to the mortgage closing.  The buyer has the right to waive this requirement if they feel 3 business days for review is unneccessary.

The 4th change by the Fed dictates extreme accuracy in computing estimated fees upfront.  Any increase of more than .125% in the Annual Percentage Rate (APR) from the initial Truth in Lending Disclosure (TIL) requires the TIL disclosure must be revised and re-issued to the home buyer.  Furthermore, the revised TIL disclosure must be received by the home buyer at least 3 business days before closing.  If mailed, a TIL disclosure is considered “received” 3 business days after mailing.

When these new rules are viewed through a filter of the recent subprime mortgage mess, it becomes clear why they were enacted.  It was evident in the past that buyers felt time pressured and often did not understand what their actual loan interest rate was, along with other critical details of the home purchase process.  All of these recent amendments are geared to insure that the home buyer has time to review and hopefully understand exactly what they are legally committing to.

It is important to know that these new rules are not a roadblock in acheiving an expedited closing.  I may explore more shortcut details in upcoming blogs, but a quick way in shortening the time for closing is to lock in the loan rate and the various closing fees as early as possible.  However, the most important element in getting a fast, worry-free closing on your real estate is to use a professional realtor who knows real estate in the area you want to purchase.  This is one of many reasons you want to consider The Jason White Team for real estate in the Smokies.  We know the area and we have the expertise.  Call us today to help find your ideal property.

      Here are a couple of my current Listings!

Spectacular Mtn Views & Unique Features!
This charming home offers a spectacular mountain view and really unique features.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $229,700
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Prime Location at an Excellent Value!!!
Located on a quiet cul-de-sac in Chalet Village just a short distance from downtown Gatlinburg. Charming cedar home is an excellent value with magnificent woodland views.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $169,900
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What To Do When Mother Nature Makes the Outdoor Activities Challenging

Fall Day in the Smokies This area of the Great Smoky Mountains has plenty of fun things to do even when its’ our rainy season.  This is great to know because our time for vacation and relaxation are important to all of us.  Recently the bulk of the Southeast U.S. has been mired in a lengthy rain pattern.  On one hand it has helped to erase the previous several year drought by bringing lakes and water sources back to normal levels.  However, for doing outside activities it can be a little challenging.  For this reason, I wanted to focus on some indoor activities that make our area enjoyable even it its’ raining outside.  We are in the beginning of the Smoky Mountain Harvest Festival which runs from September 18th- October 31st.  This festival is centered around Gatlinburg.  It gives visitors an in-depth look into the history of our area through it’s arts and crafts.  Vacationers can explore and purchase items from a vast Southern Appalachian Heritage of craftsmanship that continues today in areas of the Smokies.  Many of these crafts can be viewed in the Great Smoky Arts and Crafts Community.  Established in 1937 this is the largest group of independent crafts people in North America.  The shops and galleries that make up this artisan community are located in roughly an 8 mile loop on the northeast side of Gatlinburg.  Vistors can enjoy this unique area during business hours year round.

The world-renowned Arrowmont School of Arts and Crafts, open since 1945, offers courses to students as well as tours of various collections in their galleries throughout the year in Gatlinburg.  October 8th- October 25th of this year is the 34th Annual Fall Gatlinburg Craftsmen’s Fair downtown at the Gatlinburg Convention Center.  This offers a variety of crafts people in one location demonstrating skills and offering their creations for sale.

Another indoor event is “A Taste of Autumn”. This food-oriented activity will be held at the Gatlinburg Convention Center on Thursday, September 24th.  It features sampling from some of this area’s fine restaurants and businesses.  Participation allows you to benefit the United Way of Sevier County with the entire $25.00 entry fee.  This will be the 12th year for people to enjoy live entertainment while they sample tasty treats and benefit local charities in Sevier County.

As you can see, even rainy weather can’t dampen the fun here in the Smokies.  Our location often gets less extremes of weather than other areas.  If you are entertaining buying or selling real estate in Sevier County’s Smokies, contact me at The Jason White Team for professional local knowledge of our real estate market.  We have the expertise to help you sell or buy property in the Smokies.

Vacation Real Estate: Is it a Good Time to Invest?

 

Chalet in Smoky MountainsThere are many questions when it comes to investing in real estate today one of which is, is it a good time to invest in vacation real estate? Currently it is a buyer’s market almost anywhere in the Country. If you can acquire financing or have the extra cash to invest,  real estate has always been seen as a good investment because while it may take its dips, historically it has always rebounded. Many signs point to it being a great time to invest in vacation real estate. These signs include:

Low interest rates

A drop in home values

Fewer buyers, therefore less competitive market place

Lower property taxes due to drop in home values

Higher inventory, therefore more homes to choose from

 

If you have been wanting to purchase or invest in a second home there hasn’t been a more attractive time to purchase vacation real estate in quite some time.

 

For more information on investing in vacation real estate visit the Realty Times web site and contact me at The Jason White Team in Gatlinburg.

Benefit Charities When You Take a Smoky Mountain Trip Back in Time

Old fashioned wagon rides are a unique way to step back in time and enjoy a leisurely view of downtown Gatlinburg combined with the surrounding scenery of the Great Smoky Mountains National Park. While the wagon rides channel proceeds to the United Way, it is a fun opportunity to benefit charities and take in the beauty of the area at the same time. The wagon ride event starts September 1st and ends on October 29th this year. The rides depart from Traffic Light #6 at The Mountain Mall in Gatlinburg. They are running from 5:00 pm to 9:00 pm Sunday through Thursday leaving approximately every 45 minutes. Admission is $4.00 per person. For contact information call 865-436-0535.hayride

These interesting events of our area remind me how much fun it is in the Smokies. The magnitude and diversity of local attractions, combined with the awesome natural beauty make this part of our country a real magnet for visitors. If you find our mountains calling you, look into real estate to answer that need. Primary residences, vacation homes, rental income opportunties, etc. are all avenues that can bring you back to the Smokies. To find just the right solution for your real estate in the Great Smoky Mountains contact The Jason White Team. We have the local knowledge and professional expertise to find your Smoky Mountain Real Estate. Call today!

Fall for Fun Here in the Smokies

This time of year I am always amazed at my personal motivation; to complete my projects, to get out and enjoy life and to stay on track for the goals I set back in January.  Once fall arrives, it is almost like an alarm clock goes off telling me the year is winding down.  Living in the Great Smoky Mountains Area, we get reminded by the multitude of events that come with autumn. The harvest festivals, combined with scenery changes as the leaves start to color and drop off are enough to bring you to this area.  However, Gatlinburg, Pigeon Forge, Sevierville and surrounding areas host some great automobile related events in the fall as well.  The warmer temperatures of summer begin to fade and outdoor activities become more comfortable for many people.  This is a great opportunity for many car enthusiasts to polish up their prized vehicles and come to the Smokies.  It is always fun to spend time with people who share similar interests.  Many find it an ideal place to buy or sell hobby cars, or to cash out or upgrade to a more desirable vehicle. The Shades of the Past Rod Run will be held September 11th-12th at the National Parks Resort Lodge & Smoky River Ranch.  This event is followed on September 18th-20th with the Grand Fall Rod Run centered in Pigeon Forge at the Grand Resort Hotel and Convention Center.  Both events bring many car fans to the area and combined with all our local attractions, there is plenty for the entire family to enjoy.

Many people come to the Great Smoky Mountains to enjoy the array of amenities this area offers and some look for real estate while they are here.  If you are coming for a visit and are searching for the perfect piece of real estate, let us help.  The Jason White Team is filled with professional local people who know the area.  We can save you precious personal time in finding real estate that matches your specific needs.  The time you save in searching for property could be time spent with your family having fun.  Call me today to get started!

Good News In Real Estate Has Two Gifts

In my reading of current real estate news, I read about two trends that favor today’s real estate buyer. News out of the National Association of Realtors in Washington, DC indicate that the Pending Home Sales Index is on a record-setting roll having risen for six consecutive months. Regular readers of my newsletter and blogs may remember past references to the Pending Home Sales Index. However, for new readers the “Index” we are talking about began in 2001. It has become a leading indication of real estate activity. Pending home sales indicate that a sales contract has been signed, but it is not officially a closed transaction. Generally these pending sales are finalized in 1-2 months of signing. This index is compiled from a big national sample, typically about 20% of the total national existing home sales transactions. An index reading of 100 is equal to the average level of real estate contrast activity that occured in 2001. This was the first year to be examined and it turned out to be the beginning of a 5 year period for consecutive record setting in existing-home sales. The great news for the Pending Home Sales Index is that it has never increased for 6 consecutive months in its entire history and it is at the highest level (100.7) since June of 2007.

According to chief economist Lawrence Yun of the NAR, the index and other factors are showing a shift in housing markets for the better. The second gift that current real estate news unveiled is that the Housing Affordability Index is remaining high. In July 09 it was 158.5. The index is now not at its peak, but indicates that buyers will still find housing affordable. The HAI uses data going back to 1970 and this index was utilized beginning in 1981. This index at a value of 100 means that a median-income family has adequate income to qualify for a mortgage on a median-priced existing single family home. The HAI factors in: home prices, closing costs, mortgage interest rates, etc. and assumes a 20% down payment with a qualifying ratio of 25% gross income for mortgage principle and interest. Essentially the higher the HAI number the more affordable housing is for most people.

Here is my perspective on these two good aspects for real estate. It is still too early to know for certain if the real estate market has bottomed . However, there is plenty of housing inventory available with good mortgage rates and a potential tax credit for qualified buyers who purchase before December of this year. Prices on the entire market are being kept off their high by an influx of bargain priced foreclosures. So for buying or selling homes there are opportunities available. To explore the real estate market in the Smokies contact The Jason White Team today and see how we can assist you to buy or sell in today’s unique real estate market.

Smoky Mountains Residential Real Estate- August 2009 vs. August 2008

In this article I am analyzing Smoky Mountains residential real estate data for August 2009 vs. the same data for August of 2008.  In getting started with our comparison, let me give you the parameters.  The numbers we have are for residential properties and they cover the residences within the Great Smoky Mountains Association of Realtors.  The calendar dates for this evaluation include transactions on 8/1/2009 and go through transactions for 8/31/2009 and the same dates for 2008 as well.

For August of this year there were 117 residences sold and last year showed 128 sold.  That leaves us 11 lower, or a 9% decrease on total residences sold. For total dollar volume sold, August 2009 was $19,941,339 vs. August 2008 of $22,955,170. The difference in total volume sold was $3,013,831 or 13% lower.  The average sale per residence sold was $170,439 in August 2009.  The same sale average in August 2008 was $179,337.  The difference was $8,898 per residence higher in 2008 or 5% higher The last figures I want to look at are the number of active listings.  Current year shows $4,431 active against $3,730 active last year.   Year 2009 has 701 more or 10% higher active listings than in 2008. 

This is interesting, but what is it’s significance?  First of all one month does not show a trend.  It gives us clues, but must be factored into a larger framework to know where it is going.  From my perspective, the market is showing some resilience.  Numbers for August are lower but not radically.  Some of this data must be tempered with current as well as on going market conditions.  For instance, there are a large number of foreclosed properties being added into the mix.  This distressed element is adding to an already high inventory of properties for sale.  These foreclosures are entering the existing market with bargain pricing which hurts values elsewhere due to the price competition.  However, here is my silver lining perspective on the current real estate market in the Smokies.  The real estate market is showing some strength and could be nearing a bottom.  High inventories are coming down and distressed properties seem to be getting absorbed.  August 2009 homes and other properties are still selling with more listed properties going on the market than in 2008.  Factors like low mortgage rates and “first time home buyer credit” favor purchasing homes at this time.  Assess your own circumstances and if buying or selling real estate in the Smokies seems like a priority, contact us.  The Jason White Team has the professional expertise and the knowledge of the area’s properties to make your plans in real estate become a reality.  Call me today!

Anticipating the Fabulous Fall Festivals in the Great Smoky Mountains

Throughout the years as a resident of the Smoky Mountains area, I have noticed a certain excitement that comes with the onset of autumn.  Setting aside the energy of starting back to school, there is a distinct type of urgency that compells many people to get out and enjoy the outdoors and other outside activities before winter.  Here in Sevier County and across the area that surrounds the Great Smoky Mountains National Park, there are a multitude of activities that come to life in the fall.  These diverse festivals and social gatherings appeal to almost everyone.  They include; food-oriented harvest festivals, car shows, autumn leaf viewing and more.  I will focus on several of these items in my upcoming blogs and I urge you and your friends to come enjoy our area at a great time of year.  Humidity is usually lower and the hotter summer temperatures are moderating.

One of the first items on the fall agenda is our Sevier County Fair.  Beginning Monday, September 7th and running through Saturday, September 12th this fair is a cornucopia of events.  There are agricultural shows of livestock and produce interlaced with amusement rides, carnival games and food items.  Each day offers different opportunities from; wrestling and seeing local celebrities to culinary demonstrations and concerts.

Just as our Smoky Mountain area abounds with fall activities, this time of year also is great to purchase or sell real estate.  Many people get serious about investments and goals before year end.  Opportunities to buy or sell are plentiful with first-time buyer incentives and low mortgage rates still in place.  Allow me or other members of The Jason White Team to help you sell or purchase real estate in the Smokies.

Why Use A Realtor?

A Realtor can be an invaluable tool when buying or selling real estate

An often perused question is: Should I use a Realtor or not?  People often underestimate Realtors and their importance in a real estate transaction.  On both sides of a deal a real estate professional can be an invaluable asset, helping to keep deals together and run more smoothly.

For sellers Realtors are valuable in a number of ways.  Realtors know the local market and how to evaluate the price your home should be sold at.  A real estate professional will advertise, market and expose your home to other real estate professionals as well as the community at large, not to mention the large customer base that they may already have.  A Realtor can help you set your home up for success by helping you present your property in a way that will appeal to potential buyers.  Realtors are indispensable when it comes to contracts and making sure each step is carried out to the seller’s best interest.

For buyers a real estate broker can be an incredibly helpful tool when looking for real estate.  Not only does a competent Realtor know his local real estate market and what is available but he also knows the community, its amenities and all that it has to offer.  A Realtor will write a contract when a buyer has found his ideal property and will help the buyer follow through with each step until closing.

In a nutshell, Realtors are incredibly helpful in diminishing the stresses involved with buying and/or selling real estate.  Please contact me at The Jason White Team to learn more about the benefits of using a realtor.