There is no national housing market. What’s that mean?

Posted by Jason White on

 

Realtor.com reports that “There is no national housing market” What does this mean for you? Let’s dive in.

 

The old adage, “location, location, location,” has never been more accurate. While the national housing market was thriving during the pandemic, things have changed since then. Rising interest rates and inflation have led to localized housing markets that vary from city to city.

 

The good news is that a great home is still a great home, no matter where it’s located. Move-in ready homes are still in high demand, and buyers are willing to pay a premium for them. However, the shortage of these properties means that competition is fierce.

 

According to Selma Hepp, chief economist of the real estate data firm CoreLogic, real estate markets in the Northeast, Midwest, and Southeast are holding up the best.

 

It’s essential to be aware of national trends, but they may not match the homes you’re looking for in the neighborhoods you’re searching in. That’s why we encourage you to stay informed by reading our monthly blogs that discuss market statistics for the Great Smoky Mountains. Our blogs are a great resource for both buyers and sellers in the area!

 

In conclusion, while the national housing market may have been thriving during the pandemic, things have changed. The housing market is becoming increasingly localized, so it’s important to research your specific area of interest thoroughly. Stay informed by checking out our monthly blogs, and happy house hunting!

 

Annual Police Department Reports: Sevierville & Pigeon Forge

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If you’re considering investing in a short term rental property in these areas, you may be wondering about the safety and security of the neighborhoods and the involvement of the police force inside the communities. 

Fortunately, both the CIty of Sevierville and the City of Pigeon Forge release an Annual Report which give us details about crime trends, community involvement, organizational charts, expenditure, and other updates.

 

Below are crime statistics for 2022 and beyond for both the City of Pigeon Forge and the City of Sevierville 

 

Pigeon Forge 

City of Sevierville

 

Police community engagement is a proactive approach to policing that emphasizes collaboration and partnership-building between law enforcement officers and the communities they serve. This can help to improve communication and reduce crime 

Here’s what both departments had to say about community involvement. 

 

Pigeon Forge

“In 2022 we continued to maintain a slim but healthy community outreach. We participated in just under 50 events. It was important to us that our community see us as active and willing to engage. We used every opportunity to meet new people, strengthen existing relationships, educate the public on safety and listen to our community members.”

 

City of Sevierville

“The Community Resource Unit is composed of one Lieutenant, one Sergeant, one bomb detection K9 team, two officers, and six reserve officers. There was a vacant officer position which was filled in December. This unit is responsible for special events, problem areas, senior housing complexes, government housing complexes, public education, as well as all safety and prevention programs.

 

City of Sevierville Special Event Hours:

Special Event Hours 2,185
Security Detail Hours 440
Meeting Hours 101.5
School Resource Hours 204
Patrol Hours 192
Training Probationary Officer Hours 88
Number of Government Housing Background Checks 288

 

You can read the City of Sevierville Police Department Annual Report here.

You can read the City of Pigeon Forge  Police Department Annual Report here. 

 

Great Smoky Mountains National Park – Most Visits Ever! 

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The previous record was set in 2019 at $12,547,743.

Preliminary data for visits in 2021 sits at $14,141,272 visits!  Data will be confirmed at the end of the 1st quarter.
This is an increase of 16%, up $2,045,552, compared to $12,095,720 in 2020!

Records show Gatlinburg/Sugarlands, Oconaluftee, Townsend, and Look Rock were the most visited areas!

If you dig numbers – check out this chart which shows monthly visits to the park dating back to 1979!

The city of Sevierville has recently updated some of their zoning restrictions. 

Posted by Jason White on

 

We were fortunate enough to have a chat with the City of Sevierville’s Senior Planner, Kristina Rodreick, below are the things we learned.

 

There have been updates to two zones, the Historic Residential Office and Medium Density Residential.

 

4 Streets in HRO zoning are now allowed to operate as short term rentals!

  • High
  • Eastgate
  • Park
  • Prince

 

MDR – 1 now requires a short term rental permit.

Permits operate on a notification system.

This means all homes within 100ft of your proposed Short Term Rental will be sent a notification via mail. The residents of these homes have one week to respond. If there is no response, or a positive one, the proposed home will then be approved for Short Term Rentals.

If there are any negative responses, a hearing will be held and the potential buyer will be able to present their case.

 

You can check the zoning area for a specific address here.

 

Let us know if this brings us and questions and we’ll do our best to coordinate with Kristina to get them answered.

#4 on Vacasa’s Top 25 Places to Purchase a Rental Property List

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Gatlinburg landed at #4 on Vacasa’s Top 25 Places to Purchase a Rental Property List. You can see more here.

“Gatlinburg was our number one best place to buy a vacation home in 2019 (Sevierville is included in the Gatlinburg market). Tucked into a leafy mountain valley and bordered by Great Smoky Mountains National Park, Gatlinburg welcomes up to 12 million visitors annually, despite having only 4,000 full-time residents. What’s all the fuss? There’s more packed into this town than destinations twice its size—from day hikes, river rafting, guided outdoor tours, and panoramic lookouts to seasonal festivals, unique shops, and plenty of family-friendly amenities.”

Top take-aways from this article highlight a preference for drive-to markets over fly-to markets and a way to embrace the great outdoors! Did you know that the Smokies are just a day’s drive from roughly 2/3rds of the nation’s population?

#2 Most AirBNB Friendly City in the U.S.A.

Posted by Jason White on

When you begin your search for an investment property, one of the most important things you can do is determine what the local laws are regarding short term rentals.

Fortunately, according to Mashvisor, Gatlinburg lands at #2 on a list of the top 20 most AirBNB friendly cities in the United States!

One thing to be aware of when investing in Sevier County is the need for a Tourist Residency Permit. You obtain these by completing a short application and fee payment. Each city has a slightly different set of regulations. You can find the process for Gatlinburg here.

What questions do you have about Tourist Residency Permits?

Zoning in Sevier County, TN – Restrictive Covenants

Posted by Jason White on

*updated February 2022. 

 

Restrictive covenants can also apply to real estate deals, where they include such reasonable provisions as not allowing pets or renovations without approval from the neighbors or community association. They can also place more-onerous restrictions on buyers, such as the number of tenants who can live in a property or even the timing of holiday decoration setup and removal.”

-Investopedia

 

We’ve covered the basics of Zoning, and a few specificities between Pigeon Forge zoning, Sevierville zoning, and Gatlinburg zoning.

This week we’ll cover the basics of restrictive covenants, sometimes called covenants conditions and restrictions, or cc&rs.

 

What are covenants and restrictions?

According to Cornell Law, Covenants, conditions, and restrictions, commonly called “CC&Rs” are a set of rules governing the use of a certain piece of real estate.

 

Is it important to review the restrictive covenants before purchasing a home or piece of property?

Absolutely! This is where you will find rules and regulations about what you can and cannot do on or with your property. Restrictive covenants along with the zoning map give you a clear understanding of use type for your property.

 

What might be addressed inside of covenants conditions and restrictions, or cc&rs?

  • Limitations on exterior and roofing colors
  • Whether or not retaining walls are considered common property
  • Landscaping restrictions
  • Who owns the roads and the grounds – you or the home owners association
  • If you are building – things like materials, square footage, and height above grade

 

How do I find the covenants and restrictions on my property?

Covenants conditions and restrictions for your specific property are referenced on your warranty deed. 

You can find Sevier County, TN warranty deeds and Sevier County, TN restrictive covenants on the Sevier County Register of Deeds website.

You can find more info about zoning in Sevier County, TN here.

Do you have any questions about restrictive covenants?
Email us at info@jasonwhiteteam.com, so we make sure to get them answered for you! 

What Everyone Should Know about Real Estate Zoning in Sevier County, TN

Posted by Jason White on

Zoning is the at or process of partitioning a city, town, or borough into zones reserved for different purposes. Sevier County zoning.

Investopedia defines zoning as “Zoning refers to municipal or local laws or regulations that dictate how real property can and cannot be used in certain geographic areas.”

Last week we covered the basics.This week we’ll talk about a few different zoning specificities Pigeon Forge and Gatlinburg have.

When shopping for a short term rental in Pigeon Forge you’ll need to be on the look for properties located in the R1 zone, there are some restrictions on properties located in this zone related to short term rentals.

“Short-term rental of residences located in the R-1 District shall be permitted only if the residence was being utilized as a short-term rental (as that term is defined in T.C.A. § 13-7-602(3)(B)) on or before August 13, 2018, the date on which Section 511 was added to Article V of the Zoning Ordinance; however, the owner of the property must apply for a permit, in the manner set forth in Article V, Section 511, within sixty days of the passage of this Ordinance, and take the required steps to timely obtain a valid permit within a reasonable time thereafter. (Ord. 1065, 8/13/2018)”

Click here to view Pigeon Forge Zoning Ordinances. 

When shopping for a short term rental in Gatlinburg you’ll need to be on the look for properties located in the R1A and R2A zones, properties located in these zones cannot be used as short term rentals.

“702. R-1A Low-Density Residential. 702.1 Any use permitted in the R-1 residential district, except tourist residences and Planned Unit Developments.

704. R-2A Medium Density Residential. It is the intent of this district to provide areas for single and multi-family dwellings; to encourage the development and continued use of the land for residential purposes, and prohibit business oriented uses which would in any way interfere with the continued residential character of the district. In order to achieve the intent of the R-2A (Medium Density) Residential District, as shown on the Zoning Map of the City of Gatlinburg, Tennessee, the following uses are permitted:

704.1 Any use permitted in the R-2 Residential District, except tourist residences. “

Click here to view the city of Gatlinburg Zoning Ordinances. 

Next week we’ll answer some questions about covenants and restrictions and homeowners associations.

If you have any questions hit reply and send them to us, so we make sure to get them answered for you! 

Sevier County Zoning

Posted by Jason White on

Zoning is the act of process of partitioning a city, town, or borough into zones reserved for different purposes. Sevier County Zoning.

Do you ever wonder how the Sevier County zoning might effect your short term property investment? Is it something you should be aware of before you purchase an investment property? Of course! We’ll tell you a bit more about zoning in general and link to more specifics related to Sevier County zoning.

Investopedia defines zoning as “Zoning refers to municipal or local laws or regulations that dictate how real property can and cannot be used in certain geographic areas.”

 

There are multiple different types of zoning; residential, commercial, and industrial, among others.

Residential zoning covers single-family residences, multi-family structures, and planned unit developments.

Commercial zoning covers things like office buildings, shopping centers, and restaurants.

Industrial zoning covers warehouses and manufacturing facilities.

Agricultural zoning is sometimes used to protect farmland and for subsidy programs.

Next week we’ll dive into specifics concerning our area: Pigeon Forge zoning, Gatlinburg zoning , and Sevierville zoning.

The following week we’ll answer some questions about covenants and restrictions and homeowners associations.

If you have any questions hit reply and send them to us, so we make sure to get them answered for you! 

CBS News ranks every National Park in the US by Popularity

Posted by Jason White on

Guess where the Great Smoky Mountains ended up on CBS’s list of most popular National Parks?

#1

The Smokies continue to be the most visited National Park.

“America’s most visited national park, Great Smoky Mountains straddles Tennessee and North Carolina, and features everything from mountains and waterfalls to hiking trails and historical attractions. Most visitors enter the park through Sevier County, Tennessee, and while there, many make a stop at Dollywood. Dolly Parton’s theme park draws 3 million people every year, and its success goes hand in hand with the success of the park.”

This comes with other perks too, not only did Sevierville land on FortuneBuilders Best Places to Buy Vacation Rental Property in 2020 so did Gatlinburg!