As Foreclosures Ease, The Market Benefits

Posted by Gatlin on April 25, 2013

Recovery We have watched as inventory decreases and prices rise both locally and nationally. This is due in part to a steady decline in foreclosures entering the market. In March the number of foreclosure filings fell 21% from a year earlier and repossessions were at the lowest number we have experienced in five and a half years. Let’s take a closer look at all of the factors in play that are helping ease the numbers.

Stronger guidelines for processing short sales have been put into play for some loans helping the process move along more quickly. As buyers see that short sales are not taking as long they are more interested in these listings resulting in more of them being sold instead of moving into foreclosure.

Banks are also approving more loan modifications and refinances to help owner’s stay in their home instead of considering foreclosure proceedings as the first option. According to a new report for March by Lender Processing Services, the number of owners who are behind on payments or in danger of foreclosure dropped below the 5 million mark for the first time since 2008. LPS reports that by the end of March the number of homes in foreclosure dropped to 3.4%, down from 4.2% just a year ago.

We are also seeing a huge increase in banks using deeds-in-lieu of foreclosure. A deed-in-lieu of foreclosure allows the bank to take possession of a home while foregoing the foreclosure process. Often times a deed-in-lieu comes with an offer of “cash for keys” an incentive for owners to vacate the home without letting it fall into foreclosure. Nationwide, in 2012, deeds-in-lieu were up 40% from 2011 according to RealtyTrac.

There are still many great deals on homes available as we see prices rising slowly. For the week we saw average mortgage rates drop .02% to 3.65% keeping home affordability at record lows. 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 all of the available properties in the area.

Here Are A Few Of My Featured Listings:

180 Degree City & Mountain Views Produced over $14k in rental income in 2012. Very private ridgetop retreat w/wraparound covered deck that has amazing 180 degree views of the mountains & city lights. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

Great Income, Perfect Location Over $40,000 in rental income for 2012! Big open floor plan with 5 bedrooms & bath suites. Four of the suites have whirlpools & 3 feature fireplaces. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $299,900 Get more information >

Charming River Front Cottage Almost $15,000 in rental income for 2012. Sitting right along the Little Pigeon River, this charming cottage is just minutes to the Pigeon Forge Parkway. Type: Single Family Home Location: Pigeon Forge Price: $177,900 Get more information >

Vacation And Investment Home Sales Are On The Rise

Posted by Gatlin on April 11, 2013

The National Association of REALTORS has conducted their 2013 Investment and Vacation Home Buyers Survey concerning existing and new home transactions for 2012. The report contains very detailed information about investment and second home buying patterns and today we would like to take a look at some of the numbers and how they relate to the tourist driven market in the Great Smoky Mountains.

The news is good overall, with the report showing an increase of 10.1% in 2012 vs. 2011 for vacation home sales. Investment home sales dipped 2.1% to 1.21 million but remains well above the numbers from the downturn when sales were well below one million. Vacation home sales made up 11% of all real estate transactions last year, the second highest percentage since 2005. As we see news of a market recovery and reports that things are shifting to a seller’s market it is positive for our area to see that this does not apply only to permanent residences but also to owners of vacation rental property.

When we looked at the statistics for the Smoky Mountain region last week we noted an increase in average prices of 12% for Sevier County, Tennessee. This is reflected in the NAR report as well as they show that the median price for vacation and investment homes is up, reflecting a larger amount of more expensive vacation and investment properties being purchased in 2012. We expect to see the trend continue in 2013.

Thirty five percent of investment buyers purchased more than one property with 55% of them stating that rental income was a large factor in their buying decision. Our region leads the market with 45% of vacation homes that were purchased last year being in the South. This is great news for owners in the Smoky Mountain area as inventory decreases and a large percentage of buyers are looking for great rental investments in the area. If you have a second home or vacation rental that you are thinking of selling why not request a free price analysis? You may be surprised by what the market has to offer.

Looking for a great investment or second home? Try out our new search site and gain access to all of the available listings in the area. When the time is right, we are here to help guide you through the process of purchasing your Smoky Mountain dream.

Here Are A Few Of My Featured Listings:

Amazing Mount LeConte Views Over $28,000 in rental income for 2012! Nicely decorated cabin with fantastic views of Mt LeConte. Enjoy the views from the spacious decking this cabin has to offer. Type: Single Family Home Location: Chalet Village Price: $219,900 Get more information >

Gone With The Wind Almost $27,000 income for 2012!! If you have dreamed of having a luxury chalet on top of the mountain with sweeping views of the valley, city and mountains then you have to look at this one. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

Beautiful Setting On The River Consistently produces almost $40,000 gross annual income!! Once you see it you’ll never want to leave. Directly on the pristine Middle Prong of the Pigeon River, found to be the cleanest river in the state by the Tennessee Resource Defense Council. Type: Single Family Home Location: Pittman Center Price: $399,900 Get more information >

The Smoky Mountain Real Estate Market Continues To Climb

Posted by Gatlin on April 4, 2013

buyersroad A look at the Smoky Mountain real estate statistics shows a market that continues to improve. Today the National Association of REALTORS stated that 83% of agents are reporting constant or rising prices and we see the same trend in the Sevier County area. There are still concerns that event though mortgage rates remain low lending restrictions are too tight and holding back a speedier market recovery. Let’s see what the numbers have to say.

In the category of Total Residences Sold we do see a decline from the same period in 2012 with 58 less homes being sold.

Even though the number of homes sold decreased we see a much smaller decline in the Total Dollar Volume of homes sold through March.

Prices continue a steady climb with a 12% increase over last year. This relates directly to the smaller decrease in total volume vs. number of homes sold. Home buyers who are in the market are ready, willing and able to purchase at this time.

Inventory is also decreasing with a decline of 8% from last year. This will continue to push the prices higher and help with the balancing of the market.

As the market improves now is the time to start your search for a Smoky Mountain home. Have you had a chance to try out our new home search website? If you had an account on the old site you will have received an email with new log in instructions. Never searched on our site before? Give it a try and let us know what you think. We hope you love all of the new features!

Here Are A Few Of My Featured Listings:

Beautiful Get Away Cabin Produced right at $16,000 in rental income for 2011. Tidy and cute one bedroom honeymoon cabin all on one level. Type: Single Family Home Location: Pigeon Forge Price: $99,900 Get more information >

Rustic Charm On 6 Acres!! Charming vintage log cabin updated with modern conveniences but with old time charm sitting on 6 beautiful wooded acres. Type: Single Family Home Location: Pittman Center Price: $174,900 Get more information >

Possible Owner Financing Owner Financing available with 20% down, 6% interest, 30 year amortization, 5 yr. balloon, no fees. Just 1 mi. from Ober Gatlinburg is where you will find this super affordable condo. In a resort like community you will enjoy all of the best amenities. Type: Condo Location: Gatlinburg ,Tennessee Price: $75,000 Get more information >

The Market Slows But Continues To Climb

Posted by Gatlin on March 28, 2013

The National Association of REALTORS reported that pending home sales slowed in February but still remained at the second highest level that has been seen in almost three years. As inventory decreases it is believed that limited available choices for buyers are causing the leveling out of activity. Let’s look a little closer at the market activity.

The Pending Home Sales Index, which reflects contracts not closings, fell less than half a percent from January but remains 8.4% higher than February of 2012. Lawrence Yun, NAR Chief Economist, said “Only new home construction can genuinely help relieve the inventory shortage and housing starts need to rise at least 50 percent from current levels.” In light of this KB Home, the fifth largest U.S. home builder has announced that they intend to invest more than a billion dollars this year in land acquisition. Jeff Mezger, KB Home Chief Executive explains “With the backdrop of a housing recovery that is now accelerating, we feel it is the right time to step up our investment growth.” Other builders are chiming in with the same sentiment. Increased builder activity will have a positive effect on the economy as jobs are created and money is spent in building materials and by new owners in the market purchasing furniture, appliances and household services.

In the Smoky Mountain area we are seeing a slight decline in inventory and a gradual rise in prices but there are still plenty to choose from. Last week we spoke about the launch of a new search website that features:

*Simplified navigation

*Photos are larger/easier to view

*Mobile site enabled

*Same page viewing of properties

*Better map search feature

*Specific and accurate saved searches

The site is now live and we invite you to log in and take a look around. For those of you whom have an account on our old search site, keep an eye out for an email from us containing your new login information. Haven’t been using our site? Take a look . We hope you enjoy the upgrade and would love to hear your feedback.

Here Are A Few Of My Featured Listings:

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: $269,900 Get more information >

Cozy Chalet On A Mountain Stream Over $16,000 in rental income for 2012! Sitting right on a mountain stream this cozy chalet is only about a mile from the first traffic light in Gatlinburg, which is a super handy and scenic location Type: Single Family Home Location: Chalet Village Price: $149,900 Get more information >

Turn Key Condo Near Ober Gatlinburg These condominiums are one of the best values in the area. High quality masonry construction and only 36 units. This building is in excellent condition with a newer roof, recently painted, resurfaced parking area, nice landscaping & a well managed HOA. Type: Condo Location: Chalet Village Price: $139,900 Get more information >

New Tools To Make Your Home Search Easier

Posted by Gatlin on March 21, 2013

Reports are coming in Nationally that mortgage interest rates are still at record lows and so is housing inventory. The National Association of REALTORS has said much of the country is experiencing a seller’s market. So far in 2013 the news for Sevier County Tennessee is very similar. We see prices start a gradual climb and an inventory decrease for the first time in years. For sellers, it might be a good time to see what price the market may offer for your home. For buyers, there are still plenty of great mountain properties to choose from at this point and now is the time to take the next step towards owning a mountain home.

Many of you currently use our website to view properties and our team strives to provide superior quality service. Our efforts in providing this type of customer satisfaction has lead us to update our web presence with a new home search site. Here are just a few of the enhanced benefits you will soon experience in your web based home search:

*Simplified navigation

*Photos are larger/easier to view

*Mobile site enabled

*Same page viewing of properties

*Better map search feature

*Specific and accurate saved searches

The site is not live yet but keep an eye out over the next few weeks for more updates. For those who have a current account on the site with saved searches, favorite homes etc…once the new website is live we will be emailing you detailed information about the new website and believe that you will be pleased with the changes. Haven’t searched for homes on our current website? Send us an email or give us a call and we will be happy to set up a free account for you so you can begin enjoying the benefits of using some of the best search tools available.

We believe these tech upgrades paired with the experience and dedication of our team are the right ingredients to make your home purchase a smooth transaction from the moment you start looking until the moment your purchase is complete. Stay tuned for more information as we get closer to launch date.

Here Are A Few Of My Featured Listings:

12 Acre Mountain Retreat 12 pristine acres bordering the Great Smoky Mountains National Park with direct view of downtown Gatlinburg and surrounding mountains. Cove Mountain Trail literally touches the property line. Type: Single Family Home Location: Chalet Village Price: $799,900 Get more information >

Custom Built Home On The River Custom built home on the Pigeon River with year around mountain views in one of Sevierville’s most sought after neighborhoods. Type: Single Family Home Location: Sevierville,TN Price: $329,900 Get more information >

Come Be A Happy Bear Great rental potential with $12,270 in rental income just for August – December of 2011. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $259,900 Get more information >

February Continued The Positive Trend For Smoky Mountain Real Estate

Posted by Gatlin on March 7, 2013

As we prepare to move in to the Spring market we will take a look and see what the statistics had to show for February in real estate trends. We see positive news in key categories and look forward to this continuing through March and the rest of the year. As recent posts have shown, the National real estate market is experiencing great things as well. On Monday, Freddie Mac reported record breaking profits as they closed out 2012. The mortgage giant showed an $11 billion gain, their largest ever and their first profitable year since 2006. $5.8 billion of this profit must be paid back to the United States Treasury and beginning this year 100% of profits from Freddie Mac & Fannie Mae will be given back as re-payment of the approximately $71 billion in aid they received during the housing crash. We see these gains as more evidence that the housing market has turned a corner.

As we look at the statistics for Sevier County, Tennessee we will start with the Total Number Of Homes Sold. Compared to February of last year we do see a decrease. We feel this is partly due to a lowering of inventory. As we move in to Spring we certainly expect to see this number exceeding last year’s again.

In the category of Total Volume Sold we also see a slight decline as well which relates to the numbers above.

Positive news for sellers when we look at Average Sold Prices. February shows a gain of 17% over the same period last year. Though less homes sold for the month buyers were willing to pay more for homes which may be related to less homes being on the market to choose from and the presence of a few multiple offer situations.

In the last category, Available Homes On The Market, we see a 9% reduction in inventory. This will continue to help with boosting prices.

Though there is still plenty of inventory available, as a seller now may be a good time to consider putting your home on the market. We understand that you may be wary as you may have considered it before and not been successful at getting the price you need. However as prices are rising and inventory is shrinking leaving less competition why not treat yourself to a free to see if things have changed? We are excited about the positive news for the area and invite you to spend some time at to see what opportunities are available in the Great Smoky Mountains.

Here Are A Few Of My Featured Listings:

Wooded Mountain Get Away Over $20,000 in rental income for 2012! This property is perched in a beautiful wooded location with a stunning view of the surrounding Smoky Mountains. Type: Single Family Home Location: Chalet Village Price: $165,000 Get more information >

Minutes To The Ski Resort Over $20,000 in rental income for 2012! Looking or a great deal in desirable Chalet Village? This is it! Located just minutes to downtown Gatlinburg and Ober Gatlinburg Ski Resort. Type: Single Family Home Location: Chalet Village Price: $135,000 Get more information >

Stunning Mt. Leconte Views Almost $35,000 in rental income in 2012! Enjoy stunning mountain views from inside or outside. Upon entering the home, you’ll find yourself in the expansive living room, with lots of windows that allow you to enjoy views of Mt. LeConte. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $249,900 Get more information >

Now Could Be The Time To Consider Selling

Posted by Gatlin on February 28, 2013

Next week we will be sharing the February statistics for the Great Smoky Mountain region however, looking at preliminary numbers we expect to have very positive news to share. As in our area, nationally reports of market improvement continue to come in. Let’s see what our sources have to say.

Last week the National Association Of Realtors said it is becoming a seller’s market. NAR reported that the current inventory of homes on the market represents a 4.2 month supply at the current pace, the lowest we have experienced since April of 2005. This is a 25.3% decrease from the same time last year. Lawrence Yun, NAR Chief Economist has concerns that the limited inventory presents challenges for increasing sales volume as buyers are faced with lack of choice. “Buyer traffic is continuing to pick up, while seller traffic is holding steady,” he said. “In fact, buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We’ve transitioned into a seller’s market in much of the country.” Yun went on to say, “We expect a seasonal rise in inventory this spring but it may be insufficient to avoid more frequent incidences of of multiple bidding and faster than normal price growth.”

The national median price for existing homes of all types was up in January by 12.3% from January of 2012. In the Smoky Mountains, single family homes remained even with last year and we expect to see them starting to rise as we are experiencing a decrease in inventory as well. As buyer activity continues and inventory shrinks prices will show gains.

We are also seeing properties spending less time on the market as buyers are not hesitating to move forward with offers once a property has been identified. Mortgage rates remain low and buyers are taking advantage of available opportunities. With all of these positive changes happening now is a great time to get a free market analysis of your property and see if now may be the prime time to get your property on the market. Email me or give me a call at 877-678-2121 and I am happy to prepare a detailed report for you.

If you are considering a purchase, there are still plenty of great homes at this time but as we expect prices to begin a rise now is the time to . It is very important with the current market conditions to work with an experienced Buyer’s Agent who will help you to balance between moving quickly on the perfect home and protecting your interests. We also strongly encourage speaking to a mortgage lender to begin the process of getting pre-qualified prior to viewing homes to make your negotiation position stronger once you have identified a property. We are here and ready to help with all the details.

Here Are A Few Of My Featured Listings:

Creek Front Charmer Pull up a chair and enjoy the soothing sounds of the mountain stream. This 2BD/2.5BA chalet is on a large creekside lot but just a 5 minute drive to downtown Gatlinburg. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $189,900 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. Don’t miss out on all these features! Type: Single Family Home Location: Chalet Village Price: $149,900 Get more information >

Hot Buy On Authentic Log Cabin Right at $30k in rental income for both 2010, 2011 & 2012!! Soaring ceilings and three walls of glass create a dramatic feel and bring the expansive views into the living space of this modern day cabin. Type: Single Family Home Location: Pigeon Forge Price: $149,900 Get more information >

Inventory Decreases & Foreclosure Discount Prices Begin To Narrow

Posted by Gatlin on February 21, 2013

In statistics for the Great Smoky Mountain region posted to our website on February 14th we noted that prices were nearly even and inventory was down by 10% in a year over year comparison. Today, Bloomberg reports that nationally sales of previously owned homes increased by .4% with available properties dropping to the lowest level since 1999. Carl Riccadonna, senior U.S. economist at Deutsch Bank Securities said “Incomes continue to rise, interest rates are low and inventory is lean. The outlook is improving.”

Along with this we are seeing major changes in the foreclosure and distressed inventory and how it is affecting the real estate market. It is reported that foreclosure filings fell 28% in January from the previous year and are now at the lowest level since April 2007. As overall inventory continues to decrease prices will level and start to rise with distressed properties being no exception. In an article on Housing Wire, Dr. Yangling Mayer, FNC Senior Research Economist said “The fact that we are seeing a combination of rising home prices and a bottoming out of foreclosure prices is a very good sign the housing recovery is taking hold. This is the very first time in the long housing recession that the two are happening at the same time.” By the fourth quarter of 2012 the average foreclosure discount had dropped to 12.2%, a huge drop from the average 25% discounts we were seeing during the peak of the downturn. During that quarter foreclosures only accounted for 18.1% of the single family sales, down from 26.5% in the first quarter of 2012.

This all adds up to great news for the real estate market. If you own a property in the Smoky Mountain area and have been waiting for the right time to put it on the market now is the time to get a free market analysis. It is a comprehensive report showing current market statistics and what prices buyers are currently paying for homes similar to yours. If you would like to see what kind of price the market may bring for your home just to send me a request.

If you are thinking of buying a second home or investment property in the Smoky Mountain market, now is the time to start looking as there are still several great deals available but we do expect prices to begin to rise and to see more multiple offer situations as inventory continues to tighten. Spend some time at to get a feel for all the region has to offer. When the time is right we are happy to answer your questions or set up an appointment to show you homes.

Here Are A Few Of My Featured Listings:

Enjoy A Mountain Lodge Feeling Produced $58,000 in gross rental income just from March – December of 2012! From the minute you walk through the custom bear carved door you know you are stepping in to luxury. Type: Single Family Home Location: Sevierville,TN Price: $325,000 Get more information >

Live Your Smoky Mountain Dream Almost $20,000 in rental income for 2012! Enjoy stress free ownership with this true log cabin located in a gated resort community. Enjoy amazing views with the Great Smoky Mountains right at your door step… Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $225,000 Get more information >

Add Your Own Touches Here is your opportunity to create a mountain getaway with your own unique style and personality. High quality materials and construction are a great jumping off point to add your finishing touches. Type: Single Family Home Location: Sevierville,TN Price: $112,500 Get more information >

The Smoky Mountain Real Estate Market Is Taking Off In 2013

Posted by Gatlin on February 7, 2013

The Road To Recovery The first month of 2013 has started with positive numbers and great news. As we look at the statistical numbers we see a whirlwind of activity and gains toward improvement that are bigger than we have seen in quite some time. Let’s take a look.

In the category of Total Residences Sold we have started 2013 with an overall increase of 8%. January is typically a busy month in the area for real estate but we see a trend towards increased buyer activity from recent years.

Total Volume of real estate sold in the area was also up with an increase over the same period last year of over $1,000,000 or 8%.

Prices have actually remained nearly even with last year. The numbers show only a $707 difference in the Average Sold Price. This is very positive news for sellers.

Inventory of available homes has dropped by 10%. As buyers are more active and the above numbers improve we expect to see this number continue to decrease helping prices to remain even and start to rise.

As supply and demand continue to balance out we believe now is the time to consider a Smoky Mountain Purchase. Take a look at our website to view all of the available homes and get started on the road to making a great investment. We are here to help when the time is right for you.

Here Are A Few Of My Featured Listings:

87 Gently Rolling Acres Await 87 gently rolling mountain top acres with outstanding 270 degree uninterrupted panoramic views of the major peaks of the Great Smoky Mountains National Park including Mt. Cameror, Geyot, Webb, Greenbriar, and LeConte. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $1,750,000 Get more information >

Relax By The Water Waterfront living at its finest on 7.92 acres with 365′ fronting the Holston River in Grainger County! Offering a custom home featuring many updates, privacy, scenic views, wildlife, private boat ramp & more! Type: Single Family Home Location: Grainger County Price: $667,000 Get more information >

Expect Good Things For Real Estate In 2013

Posted by Gatlin on January 31, 2013

2012 closed out with definite signs of continued market improvement. Reports and trends are pointing to these gains continuing this year. January has started at a fast pace for the local real estate market and in recent weeks we have experienced multiple offer situations and bidding wars on homes. When we look at January’s statistics next week we expect to see an increase in activity.

New home construction is reported to have accelerated to its highest rate since 2008. As existing inventory continues to move we believe we will see new home construction continue to rise. Other reports show that repairing and remodeling of existing homes has picked up as more owners are preparing their homes for the market spurred on by positive signs of recovery.

The Joint Center For Housing Studies at Harvard University released a 32 page report on January 23rd relating to improvement of the housing industry. The report shows that in most metropolitan markets home prices have steadily risen with new home construction climbing by almost 30% in 2012 and existing home sales passing the four million mark for the first time since 2007. As momentum builds in the market it is expected that the remodeling and home improvement industry will get a boost as well. The report goes in to depth about how and why that industry will see a flurry of activity and how it relates to the current real estate market conditions. You may download a full copy at their website.

In another report released this month they go on to say that even after the housing crash, as the market begins its recovery the dream of home ownership is alive and well in America. In one survey by Pew Charitable Trusts 81% of those surveyed agreed that buying a home is the best long term investment in the United States. Using information from the National Housing Survey data from 2010-2012, Drew and Herbert found that of both owners and renters 94% of people between the ages of 18 and 44 anticipate buying a home in the future. While having the desire to own a home is different from actually purchasing, we believe that as prices are still low as long as favorable mortgage conditions remain we will see a large number of buyers entering the market this year.

There are still many opportunities to purchase a residence or investment in the Great Smoky Mountains. As conditions improve we are seeing increases in inventory as more owners are moving forward with delayed plans to sell. We believe prices will continue to rise and now is the time for buyers to take advantage of still available deals and for sellers to consider getting a to determine if now is the time to put their home on the market. We are happy to help with achieving your 2013 real estate goals. Spend some time at and let us know when you are ready to begin exploring all that the Smoky Mountain market has to offer.

Here Are A Few Of My Featured Listings:

Gone With The Wind Almost $22k in rental for the first 10 months of 2012!! If you have dreamed of having a luxury chalet on top of the mountain with sweeping views of the valley, city and mountains then you have to look at this one. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

Amazing Views & Unique Features This charming home offers a spectacular view and some really unique features. The living room has soaring ceilings, warm wood flooring and a unique see through fireplace with the dining area on the other side. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $208,700 Get more information >

Category: Local Market Statistics