Federal Reserve’s Latest Message May Encourage Greater Short-Term Housing Affordability

Posted by Gatlin on September 26, 2013

In a surprise move, the Federal Reserve voted last Wednesday to continue its stimulus through the buying of securities, including the continuation of purchases ofagency mortgage-backed securities at a pace of $40 billion per month, as well as longer-term Treasury securities at a pace of $45 billion per month. This went against the expected and anticipated notion that the Fed was considering tapering, or slowing down, of its stimulus efforts.

In its decision, the Fed cited concerns regarding the rate of growth in the economy as a whole, as well as concerns about the recent trend of rising mortgage rates at a time when the housing market is starting to recover from the Great Recession of 2008.

At a press conference last Wednesday, Fed Chairman Ben Bernanke stated that the Fed, by its decision, is “avoiding a tightening until we can be comfortable that the economy is in fact growing the way that we want it to be growing.”

One of the significant impacts of this decision was that The Fed’s bond purchases benefit borrowers by pushing down long-term interest rates. The yield on the benchmark 10-year Treasury note dropped sharply after the Fed announcement. Rates on mortgages and many other consumer and business loans tend to parallel the 10-year Treasury’s yield, and also saw declines in rates following the Fed announcement.

According to Gus Faucher, a senior economist at PNC Financial Services Group, “It helps people who are looking to buy a house in the near term.” In addition, Mr. Faucher also stated that “it makes housing more affordable. That’s one reason the Fed decided not to act — to make sure the recovery in the housing market continues.”

What does this all mean? Essentially, the Fed decided not to discontinue the buyback of asset-backed securities, at least for now, due in part to concerns about rising mortgage rates and their impact on the housing market, which has been gradually improving throughout this year. Therefore, the expectation is that there will be no tapering by the Fed, and any efforts to decrease the Fed’s stimulus will not occur in the short term, thereby keeping mortgage rates lower, at least for now.

Why not consider buying a new home in the Great Smoky Mountains today? We have many great properties available, and with still historically low mortgage rates, today is the day for you to realize your dreams of home ownership! Please feel free to browse our available inventory of homes today, and then contact one of our buyer specialists today to how we can help you find a new home! Take the first step today in finding the home of your dreams, right here in the Great Smoky Mountains!

Here Are A Few of My Featured Listings:

Luxurious Log Cabin Mins. to Dollywood! Spacious, luxurious 5 BD/4 BA home located mins. from Dollywood and Pigeon Forge! Type: Single Family Home Location: Pigeon Forge Price: $289,900 Get more information >

3.84 Acres & On The River Beautiful river frontage along the middle prong of the Pigeon River, known and verified to be the cleanest in the state. Beautiful, 30′ deep pool and huge boulders create a scenic park like setting. Type: Single Family Home Location: Sevierville,TN Price: $259,900 Get more information >

Wears Valley Luxury You’ll notice the unusually high quality construction from the moment you pull in the driveway. Type: Single Family Home Location: Pigeon Forge Price: $575,000 Get more information >

The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Dr
Gatlinburg, TN 37738
Toll Free: 877-678-2121
Fax: 865-436-7227
Email: jason@jasonwhiteteam.com
Website: www.SmokyMountainLifestyle.com

Heading Into September, The Smoky Mountain Real Estate Market Shows Continued, Steady Growth

Posted by Gatlin on September 5, 2013

For much of this year, we have seen both the national and local real estate markets continue to show steady growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through August of this year, we will see that these trends, particularly in this real estate market, largely continue. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing August 2013 to that of August 2012, the number of residences sold is unchanged, showing no increases or decreases at all. This shows and reflects a general steadiness in the real estate market, and as we look at the rest of the statistics, we will see that the market is still quite stable and we expect this to continue and improve.

In the category of Residential Dollar Volume for the year, we actually see an increase of 5% through August of this year, as opposed to through August in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices continue to show that a greater dollar volume in homes is being sold on the whole, continuing to show a gradual and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a gradual rise of 5% in August of this year versus that of August 2012, reflecting the recent local and national trends towards higher home prices. As inventory continues to decrease, we expect prices to continue their gradual increase, in line with both national and local trends.

In addition, available homes on the market continue to decline. Through August 2013, we see a slight decrease of 1%, or 33 less homes on the market. As activity continues to stabilize, along with the national and local trends of rising home prices, this number will likely continue to dwindle.

As markets continue this gradual trend of growth across the nation, home prices will continue their rise and housing inventory will continue to decrease. Mortgage rates still remain at historically low rates, and there are still plenty of housing options to choose from, especially in the Great Smoky Mountain real estate market. Why not start your Great Smoky Mountain home search now by visiting our website, browsing our available properties, and seeing what the Smoky Mountain area has to offer?

Here Are A Few of My Featured Listings:

Charming, Luxury Chalet w/Mtn. Views Charming, private luxury chalet located minutes from downtown Gatlinburg, as well as Ober Gatlinburg! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $229,900 Get more information >

Fantastic 180 Degree Smoky Mtn. Views Fantastic 180 degree view of Mt. LeConte & the Smokies from every room. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $479,900 Get more information >

Money To Be Made!!! Income potential with consistent rental history. $25,737 in 2009, $26,127 in 2010, $20,352 in 2011 & $22,956 in 2012. Don’t miss out on all these features! Type: Single Family Home Location: Chalet Village Price: $149,900 Get more information >

The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Dr
Gatlinburg, TN 37738
Toll Free: 877-678-2121
Fax: 865-436-7227
Email: jason@jasonwhiteteam.com
Website: www.SmokyMountainLifestyle.com

Heading Into August The Smoky Mountain Real Estate Market Continues Its Gradual, Steady Growth

Posted by Gatlin on August 8, 2013

For much of this year, we have seen both the national and local real estate markets steadily grow and show a steady climb to positive numbers. As we look at the statistics for the Great Smoky Mountain real estate market through July of this year, we will see that this gradual trend continues. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see a slight decrease versus last year of 3%. This represents 21 less homes sold in comparison to the same period in 2012. Even with the decrease in this number, as we look at the rest of the statistics, we will see that the market is still fairly stable and we expect this to continue and improve.

In the category of Residential Dollar Volume for the year, we actually see a very slight increase through July of this year, as opposed to through July in 2012. This indicates that there is a slight increase while the number of homes shows a slight decrease, the recent trend of increasing home prices shows that a greater dollar volume in homes is being sold, showing a gradual and strengthening market reflective of greater confidence on the part of both buyers and sellers.

There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a gradual rise versus 2012, reflecting the recent national trend towards higher home prices. As inventory continues to decrease, we expect prices to continue their gradual increase, in line with both national and local trends.

In addition, available homes on the market continue to decline. Through July, we see a slight decrease of 1%, or 43 less homes on the market. As activity continues to stabilize, along with the national and local trends of rising home prices, this number will continue to dwindle.

Here Are A Few of My Featured Listings:

Spacious Home w/Great Mtn Views Spacious home full of character & detail. A vintage door from the 1890’s welcomes you inside where you will find vaulted ceilings, lots of windows and lots of unique spaces. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $359,200 Get more information >

Great Views & Privacy This three level cabin has consistently produced right at $30k a year in rental income every year since 2007! Located on a private lot it features a great view and a lot of windows and deck space for enjoying the scenery Type: Single Family Home Location: Pigeon Forge Price: $279,900 Get more information >

A View Second To None Over $40,000 in rental income for 2012! Aptly named A View Second To None, this chalet has breathtaking views of Mt. LeConte. Located just minutes to downtown Gatlinburg & Ober Gatlinburg Ski Resort. Type: Single Family Home Location: Chalet Village Price: $259,900 Get more information >

Fed Seeking to Ease Recent Increase in Interest Rates

Posted by Gatlin on July 25, 2013

Federal Reserve officials recently expanded upon the latest comments by Fed Chairman Ben Bernanke, whose comments led a recent sudden spike in interest rates, including mortgage rates, which increased to the highest levels seen in nearly two years. The effects of this recent spike have led to potential increased borrowing costs for first-time and returning homebuyers, at a time when the housing market is showing slow, but steady, national growth.

Bernanke’s recent comments indicated that the Fed would reduce the amount of bond purchases that it has made since the 2008 economic downturn, along with keeping the benchmark interest rate down at all-time lows. However, according to William C. Dudley, President of the Federal Reserve Bank in New York, any increase in the Fed’s benchmark interest rate is “very likely to be a long way off,” and that any decision to reduce the pace of asset purchases wouldn’t represent a withdrawal of stimulus.

In fact, showing the reflectiveness of this recent rate spike, the average rate for a 30-year fixed mortgage recently rose to 4.46 percent from 3.93 percent, the biggest one-week increase since 1987, McLean, Virginia-based Freddie Mac said in a statement. The rate was the highest since July 2011 and above 4 percent for the first time since March 2012.

What does all of this mean? For the long-term housing market, especially for first-time and returning homebuyers, the Fed’s recent trend to consider a reduction of bond purchases and assets indicates a shift that may result in higher interest rates, including mortgage rates. While not immediate, the trends, as well as recent comments by the Fed, indicate that interest rates will go up in the long-term – it is just a matter of when and by how much.

There are still many great deals on homes available in the Great Smoky Mountain market, and today is a good time to look for the many properties that are available right now. If you have thought about purchasing a property in the Great Smoky Mountain region, now is the time to start looking. We invite you to browse our available properties in the area.

Here Are A Few of My Featured Listings:

Unique Contemporary Home w/Mtn Views Come & enjoy this one of a kind, unique, contemporary home! This 5000+ sq ft, 4 BD/3 BA home is located just off the Parkway in Sevierville in a beautiful, private neighborhood! Type: Single Family Home Location: Sevierville,TN Price: $325,000 Get more information >

Beautiful & Spacious Home w/Amazing View Over $185,000 in rental income from 5/1/12-4/30/13. Self managed using VBRO.com eliminating big management fees and improving net income. Prepare to be impressed by the top quality construction and high end finish work. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $1,950,000 Get more information >

Beautiful Cedar Log Home w/Mtn View Beautiful, private, and well-maintained 4 BD/2.5 BA cedar log home located with Amazing Mountain and Natural views! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $589,000 Get more information >

The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: 877-678-2121
Fax: 865-436-7227
Email: jason@jasonwhiteteam.com
Website: www.SmokyMountainLifestyle.com

The National Real Estate Market Continues to Hold Steady Halfway Through 2013

Posted by Gatlin on July 11, 2013

As we now reach the halfway point in 2013, there are some very noteworthy trends that are emerging nationally that continue to show a steady real estate market nationally. As we continue into 2013, here are some of the trends that are now emerging, and will have a noteworthy impact on real estate nationally, as well as locally.

According to the latest news from CoreLogic, the first indicator of note is that U.S. home prices have jumped 12.2% in May 2013 from a year ago, the most in seven years. The increase suggests the general national housing recovery is relatvively steady, and is, in fact, slowly strengthening. In addition, on average, national residential home prices rose 2.6% in May 2013 from April 2013, which is the 15th straight month-over-month increase, as measured. In many states, including Tennessee, home prices are gradually increasing and showing a generally positive increase.

The other notable indicator shows us that, according the U.S. Commerce Department, there was an increase in home construction, by 6.8%, in terms of overall pace of homes being constructed, in May 2013, as opposed to 14.8% decline in home construction in April 2013. Based on this, while not dramatically increasing, home construction is also holding steady and even gradually increasing, as well as with home prices.

Furthermore, according to Realtor.com, May of 2013 saw median list home prices were 2.10 percent higher than April 2013 home prices. This reflected a general and gradual trend towards higher home prices as a whole, and we see that the home prices are reflecting a steady national trend towards higher home prices, as well as greater consumer demand for homes.

The basic reasons for these trends are many, but generally can be attributed to greater demand, limited numbers of homes for sale, and fewer foreclosures, as well as steady hiring in the job market and relatively low mortgage rates. Based on this data, we foresee a gradual continuation of these national trends, especially with respect to home prices and available housing inventories.

There are still many great deals on homes available as we see home prices gradually rising nationally, especially in the Great Smoky Mountain market. If you have thought about purchasing a property in the Great Smoky Mountain region, now is the time to start looking. We invite you to visit our website to browse the available properties in the area.

Here Are A Few of My Available Listings:

Classic Mtn. Chalet w/Mt. LeConte View This high quality classic contemporary mountain chalet features four master suites each with deck access. Fantastic peninsula lot with beautiful views of Mount LeConte. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $279,900 Get more information >

Custom-Built Home on Douglas Lake Custom built home on a lake front peninsula surround by water on three sides with expansive views. Type: Single Family Home Location: Douglas Lake Price: $899,900 Get more information >

Updated & Luxurious Move in ready, recently painted & in excellent condition. Lovely patios front & rear and lawn in back, extras such as dimmable lights, upgraded light fixtures, beautiful 18 heated tile in master bath & oak flooring make the home feel special. Type: Single Family Home Location: Sevierville,TN Price: $239,900 Get more information >

Moving Into July The Smoky Mountain Market Remains Steady

Posted by Gatlin on July 4, 2013

For much of the year, we have watched as both the National and local Real Estate markets have gained and shown a steady climb to positive numbers. As we look at the statistics for the Smoky Mountain market through June of this year, we will see that the trend continues. Let’s see what the numbers have to say.

In the category of Residences Sold, we see a slight decrease versus last year of 8%. This represents 53 less homes sold in comparison to the same period in 2012. Even with the decrease in this number, as we look at the rest of the statistics, we will see that the market is still fairly stable and we expect this to continue and improve.

In the category of Residential Dollar Volume for the year, we also see a slight decrease. This directly relates to the decrease in number of homes sold, but remains a slight number as prices are still rising.

Good news for sellers in the Average Sold Price Category. In line with statistics so far for the year, prices still show a rise versus 2012. As inventory continues to decrease, we expect prices to continue to gradually increase.

Available homes on the market continue to decline. Through June, we see a decrease of 3%, or 109 less homes on the market. As activity continues to stabilize, this number will continue to dwindle.

As markets continue to stabilize across the Nation, prices will continue their rise and inventory will continue to decrease. Mortgage rates are still at all time lows and there are still plenty of housing options to choose from. Why not start your Smoky Mountain home search now by visiting our website and perusing all the area has to offer?

Here Are a Few Of My Featured Listings:

Great Rental Income! Over $30K rental income in both 2011 & 2012! This Smoky Mountain chalet is just minutes to Ober Gatlinburg Ski Resort. Main level master bedroom features private bath & deck access. Type: Single Family Home Location: Chalet Village Price: $199,900 Get more information >

Large Home Next to Smokies Once you see this functional work of art that doubles as a spacious home you’ll never want to leave. This home combines unique, one of a kind architecture w/an outrageous view, along with a site that borders the Great Smoky Mountains National Park. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $899,900 Get more information >

The Real Estate Market Holds It’s Ground Through May

Posted by Gatlin on June 6, 2013

So far in 2013 the news has been positive for both the local and National real estate market. As real estate affects the economy directly by creating jobs, spurring marketplace activity and more it is a breath of fresh air to see the recovery in process. Today we will take a look at the Sevier County, Tennessee statistics through May for single family homes.

Number of homes sold is slightly down with a decrease of 55 homes versus the same period last year.

With the decrease in number of homes sold, total dollar volume was affected as well with a small decrease, inventory constrictions may be contributing to these numbers.

Great news for sellers! The average sold price continues to show gains over last year showing an 8% increase. As inventory continues to shrink prices will continue to get a boost.

The number of available homes is down 4% from last year. This will continue to help prices however now may be a good time to think about getting a free price analysis to determine if it is the right time to sell.

Although inventory is down there is still a wide variety of properties to choose from. As prices continue their steady rise now is the time to get started on making your dream of owning a Smoky Mountain home a reality. We invite you to visit our website and begin the search.

Here Are A Few Of My Featured Listings:

Perfect Country Cabin Over $21,000 gross rental income in 2011 & 2012! Perfect country cabin for a romantic get-away. Great rental history and tidy condition make this an easy choice. Type: Single Family Home Location: Pigeon Forge Price: $129,900 Get more information >

Custom Built Dream Home This is a well built custom one owner home on a 3/4 acre level corner lot with mountain views of the Great Smoky Mountains National Park. Type: Single Family Home Location: Cosby Price: $239,900 Get more information >

Rustic Log Cabin W/Amazing Views! Authentic & rustic log cabin with breathtaking mountain views. Located in desirable Chalet Village, this cabin is just minutes from Ober Gatlinburg Ski Resort and downtown Gatlinburg. Type: Single Family Home Location: Chalet Village Price: $139,900 Get more

Vacant Land – A Good Buy?

Posted by Gatlin on May 30, 2013

As we are watching market activity surge, prices starting a slow rise and inventory decline many of you may be asking is now the time to consider a vacant land purchase. Today we would like to take a moment to look into the benefits and things to consider before making a land purchase.

There are numerous things to check into when you begin to look at an undeveloped tract of land and the first is what are your long term goals for the parcel? Are you looking at a long term investment, to build right away or to get a good deal now and build a home later? Knowing ahead of time what your end plans are will help to guide your decision making.

If you intend to purchase it as a long term investment always think about location. If the market is primarily vacation rental property and that will be the end user, where are the hot spots for vacation rentals? Certainly in this area Chalet Village, Pittman Center, Wears Valley and locations near Dollywood would be excellent choices. If you are looking for somewhere to build a second home you will want to decide what location features are to you when you are enjoying time away. Mountain view? Close to attractions? Privacy? Or for a permanent residence, what about accessibility to shopping? School district? Traffic?

Once you have determined an end use and location you will want to consider potential costs of purchasing such as a survey. Also, what amenities are present and what will have to be added? Is the property serviced by city water and sewer? If not, is there an existing well and septic or will one need to be installed?

Putting together a team to help will make your transaction go more smoothly and give you a clear picture when making a land purchase. We recommend exploring your financing options first so that when you have identified a piece of property you are prepared to make an offer. We are able to assist you with locating contractors, builders and others to be available throughout the process.

There are numerous options available in the Great Smoky Mountain area if you are considering a land purchase. Land and lot prices are still low but as existing home inventory continues to decrease and prices increase land values will start to rise. Now may be a good time to start looking at some of the great available deals on undeveloped property.

Here Are A Few Of My Featured Vacant Land Listings:

Near Ski Resort & Downtown
A great opportunity to own a lot in desirable Chalet Village and has a winter view of the mountains.
Type: Land
Location: Chalet Village
Price: $29,900
Get more information >

Two For The Price Of One
Two lots for the price of one and right in the city within walking distance to downtown Gatlinburg dining, shopping and attractions.
Type: Land
Location: Gatlinburg ,Tennessee
Price: $35,000
Get more information >

Beautiful Ridge Top Property! Great Deal
Beautiful ridge top property with level building site. Clear a few trees to have a wonderful mountain view. Driveway to the top of the ridge. VERY MOTIVATED SELLERS!
Type: Land
Location: Gatlinburg, Tennessee
Price: $29,000
Get more information >

What Role Does The Real Estate Market Play In The Economy?

Posted by Gatlin on May 9, 2013

We have witnessed a continued stream of good news flowing in for the housing market so far this year and there is no doubt that a recovery is underway. Trulia’s Housing Barometer shows each month how quickly the market is heading back to “normal.” Trulia is showing that the market is currently 56% of the way back compared to only 33% one year ago. This number comes from averaging 3 key indicators:

*Construction starts were up 47% year over year, the highest level since June of 2008 – 55% back to normal.

*Existing home sales slowed a bit but were still up 10% year over year – 66% back to normal.

*The foreclosure and delinquency rate fell to it it’s lowest level since October of 2008 – 48% back to normal.

Though it is great to hear real estate is doing well it is often mentioned that this means an overall boost to the economy. Let’s take a look at a few of the reasons why.

Many career fields and even the Government depend on real estate success. Of course lenders and builders benefit when the market is doing well but a closer look shows that the impact goes much deeper than that. Lawrence Yun, NAR Chief Economist, says that the market recovery is responsible for about 1/3 of the economy’s growth and a large number of jobs. When we think about homes being purchased many times this means a need for landscaping, remodeling, lawn equipment and numerous other items. This pours spending right back in to the economy. The effects go through several levels, as home purchases and home construction increase the demand for materials and supplies is also increased, boosting retail jobs, manufacturing jobs and labor jobs.

Another way home purchases help is in the tax sector. Most communities depend on tax dollars to provide road maintenance, parks, emergency personnel and other services. With more property tax dollars coming in cities are able to spend more on improvements. With these improvements it is easier to attract job providers or in some cases, recreational visitors to the area. This completes a loop of money being circulated in the economy.

These are just a few of the ways that real estate affects the economy and there are many more. As the market continues to level now is the time to consider a purchase. When you are ready we will be here to help you navigate the process from beginning to end.

Here Are A Few Of My Featured Listings:

Picture Perfect Log Cabin Almost $25,000 in rental income for 2012! Well built log cabin with privacy and only 5 miles to Pigeon Forge. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $219,900 Get more information >

Tucked Away In The Woods This two bedroom chalet with a pretty wooded view is set back in the trees to offer the kind of privacy you seldom find in today’s crowded world. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $139,900 Get more information >

Stress Free Home In The Mountains Looking for a stress free home away from home in the Smoky Mountains? You have found it here with this inviting condo atop Ski Mountain. Type: Condo Location: Chalet Village Price: $85,000 Get more information >

The Smoky Mountain Real Estate Market Holds Steady

Posted by Gatlin on May 2, 2013

An article on CNN Money this morning reports that mortgage rates for a 30 year fixed loan still hover near the record low set in November of 2012 at 3.35%. The 15 year rate fell to an all time low at 2.57%. These continued low rates are helping to push the real estate market into recovery. So far in 2013 we have seen mostly positive news both nationally and locally. As we look at the market statistics for the Smoky Mountain Region we see that the market is holding steady and still showing positive growth from last year.

In the first category of Residences Sold, we see a slight decline of 38 homes versus the same period last year.

In Residential Volume Sold we see a 2% increase. Though the number of homes sold has slightly declined this number continues to stay positive as home prices are still showing an increase.

Total Dollar Volume Of Homes Sold The Average Sold Price of Smoky Mountain Homes shows an increase of 12% versus last year. We believe this number will continue to improve as the market keeps growing.

In the final category of Available Homes we continue to see inventory decrease. April finished out with 181 or 6% less homes on the market than the same period last year. As this number continues to show a decrease it will contribute to helping prices rise.

There are still plenty of properties to choose from and though prices are rising they are still lower than when the market was at it’s prime. Now is the time to begin searching if you have ever thought of buying a get away or investment in the Smoky Mountains. We invite you to visit our new home search website and begin the process of finding the one that’s perfect for you.

Here Are A Few Of My Featured Listings:

Rustic Charm – Modern Comfort Over $20,000 in rental income in both 2011 & 2012. This log cabin nicely displays a nice balance of rustic charm blended with modern comfort. It features true log construction with high ceilings and an open floor plan. Type: Single Family Home Location: Chalet Village Price: $139,900 Get more information >

Top Of The Line – Borders National Park Tucked away on a HUGE wooded lot bordering the Great Smoky Mountains National Park this oasis of privacy offers top of the line stainless steel appliances, breakfast bar, hardwood floors and much more. Type: Single Family Home Location: Chalet Village Price: $369,900 Get more information >

Category: Local Market Statistics