Smoky Mountain Homes Are Moving Fast In 2012

Posted by Gatlin on

We are still experiencing some glitches with the Great Smoky Mountains Association of REALTORS statistical reporting however some data is available. This week we would like to take a look at how 2012 is shaping up so far for the Smoky Mountain real estate market. The numbers below are for Sevier County single family residences and show a positive trend in a few key areas over last year.

In our first category of Residences Sold Through April we see good news with a total of 58 more homes sold in 2012.

As we take a look at the Total Volume Sold through April we see the numbers very close to 2011 with only a 3% decrease.

The category of Average Sold Price is also down from last year. This is still encouraging news as we see that in April almost half of the properties sold were foreclosures being liquidated. It is positive to see banks taking the needed steps to get distressed properties sold and off the market. As this continues to happen at a rapid pace we will start to see prices leveling out again.

In the last category, Average Days On Market, we again see a positive trend over last year with 30 less days this year than in 2011.

May continues to be busy in 2012 with a flurry of buyer activity in the area. Now is the time to take advantage of some of the great deals that are still to be had. Whether you are looking for an investment, vacation home or even land to build on, plenty of opportunities are available. Take a look at our to browse all that the region has to offer.

Here Are A Few Of My Featured Smoky Mountain Deals:

Come Home To A Resort Setting Just one mile from Ober Gatlinburg is where you will find this super affordable condo. Nestled in a resort like community you will enjoy all of the best amenities the Smoky Mountain area has to offer. Type: Condo Location: Gatlinburg ,Tennessee Price: $75,000 Get more information >

 

180 Degree Mountain & City Light Views $14,300 rental income in 2010 with 2011 already ahead at $14,500 through October. Very private ridgetop retreat w/ wraparound covered deck that has amazing 180 degree views of the mountains & city lights. Type: Single Family Home Location: Price: $189,900 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: $33,000 Get more information >

 

The Forecast Calls For An Improving Housing Market

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As we have mentioned in previous articles, this year has remained steadily busy and we are seeing higher home sales prices than have been evident in quite some time. We see the Gatlinburg and Sevier County markets moving steadily and economists are pointing to improvement in the national real estate market as well. We would like to apologize for not providing the monthly market statistics for March. Our local MLS system is experiencing technical difficulties and is not reporting accurate numbers. We hope this issue can be remedied soon. In the meantime we would like to share a little bit about what is going on overall in the real estate market.

In a recent , Lawrence Yun, NAR Chief Economist, said the recovery is in the process of settling into a higher level of home sales. Existing home sales were slightly down in March but are still 5.2% above the same period in 2011. The National Association of REALTORS reports that inventory has tightened and home prices continue to show signs of stabilizing. Mr. Yun stated, “The recovery is happening though not at a breakout pace, but we have seen nine consecutive months of year-over-year sales increases. He went on to say, “Existing home sales are moving up and down in a fairly narrow range that is well above the level of activity during the first half of last year. With job growth, low interest rates, bargain home prices and an improving economy, the pent-up demand is coming to market and we expect housing to be notably better this year.”

Nationally, the median existing home price for all housing types was just under $164,000 in March. Short sales and foreclosures made up 29% of March sales compared with 40% in March of 2011. In the South, existing home sales are reported at 3.6 percent higher than one year ago.

Freddie Mac reports that the national average commitment rate for a 30 year, conventional, fixed rate mortgage was 3.95 percent in March, down from 4.84 percent in March of 2011. This makes financing very attractive for homebuyers and is opening up options for many.

All of this points to a steady move towards a positive outcome for the 2012 real estate market. Locally we are seeing a shift in buying patterns with more buyers present in the market and able to procure financing. Now is the time to enter the market, take advantage of extremely low mortgage rates and great housing deals available in inventory. With many financing options it may be a prime time to speak with a lender, see what is available and get pre-approved. Having a pre-approval in hand will put you in a great position when you find your “Smoky Mountain Dream”. There is a lot to choose from, start at our and view all that the Great Smoky Mountains have to offer.

Here Are A Few Of My Featured Listings:

Heirloom Quality Throughout Not often does a living piece of history come available for sale, perhaps once a generation. Such a time is this. Heirloom quality throughout this solidly built stone cottage boasts quality not often seen in homes built today. Type: Single Family Home Location: Pittman Center Price: $395,000 Get more information >

 

Private Mountain Retreat Private three bedroom, three bath Log Cabin with great mountain views from three decks. Type: Single Family Home Location: Pigeon Forge Price: $320,000 Get more information >

 

Character, Details & Views! Pictures do not do justice to the view! Picturesque home with tons of space and lots of windows. Wine cellar/tasting room are just one of the many unique features you will enjoy. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $384,200 Get more information >

 

Great Things Happening For The Gatlinburg Real Estate Market

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It has been not only an exceptionally busy year but also a year that has brought great news for the local housing market. Many sellers fear that buyers are not willing to spend much money and many buyers fear that banks are not willing to lend much, especially on investment or second homes. Recent events point to a very different story for both buyers and sellers. On March 14th, our team closed the largest residential real estate transaction that our local MLS service has seen in over five years. This was not a cash deal nor a distressed sale. It is simply a feel good story of willing buyer, seller and lender coming together. The home pictured above is a twelve bedroom vacation rental property here in Chalet Village above Gatlinburg. Many thought it would be impossible to sell in today’s market. With conventional bank financing and a willing and able buyer we were able to gain an acceptable offer and successfully close the transaction with a purchase price of $1,750,000. What does this mean for your real estate plans? The fears of a slow market are becoming a thing of the past. The market is saturated with buyers and banks are lending money. If you have been considering putting your home on the market, now may be a great time to .

This kind of market movement is combined with recent attention for the area from Forbes magazine. In a recent article they have named Gatlinburg one of the Top 10 Prettiest Towns In America. Calling upon experts from the Travel Channel, National Geographic, travel authors and others to bring the list together, Forbes cites many reasons why Gatlinburg made the list. Zain Habboo, National Geographic’s director of travel stated “The wildflowers around Gatlinburg and the Great Smoky Mountains National Park are absolutely spectacular in the spring as they burst with wildflowers at their peak.” Others pointed out access to whitewater rafting, hiking and the dramatic mountain backdrop as reasons Gatlinburg has become a hotspot. It is truly a beautiful mountain town filled with charm, history and nature. As a top tourist destination we believe the Gatlinburg area is one of the best places in America to consider purchasing an investment property.

There is plenty of inventory available, homes are moving and banks are lending. Is now your time to purchase that Smoky Mountain dream property? Take a look at to browse all that the Smoky Mountains have to offer. When the time is right our team is ready to help you turn dreams into reality.

Here Are A Few Of My Featured Gatlinburg Properties:

Travel Through Time Take a walk in the park just by stepping off of the deck. Perfectly preserved, this mountain home is just steps from the Great Smoky Mountains National Park Boundary and will take you back in time. Type: Single Family Home Location: Chalet Village Price: $179,900 Get more information >

 

Mount Leconte Views Beautiful mountain home with view, wrap around decks, updates throughout including kitchen, new appliances, quartz counter tops and glass tile back splash. Great for permanent residence or rental. Type: Single Family Home Location: Chalet Village Price: $239,900 Get more information >

 

Unparallelled View of Great Smokies!! Contemporary home with many interior updates and incredible view of ski slopes at Ober Gatlinburg and Great Smoky Mountains. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $224,900 Get more information >

 

February Ushers In Beautiful Weather & An Active Smoky Mountain Market

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As we move out of February into March we are seeing amazing spring weather with temps in the 60’s and above. February’s real estate market in The Great Smoky Mountains also closed out with some positive activity and movement signaling good things to come for home buyers & sellers along with the spring weather. Let’s take a look at what the numbers have to say.

In the first category of Total Residences Sold, we see an increase from last year of 9% with 186 homes sold.

In the category of Total Residential Volume Sold, we have a slight decrease of 10%. We believe this relates to the number of lower priced foreclosures the banks are still working to liquidate from the market.

Relating to the previous category, the Average Sales Price also shows a small decrease of 17%. As more of the lower priced properties are closed and off the market we will begin to see these numbers move closer to positive.

In the last category of Number Of Active Listings we show an increase of 330 homes available on the market over last year.

With signs of spring all around and plenty of deals still available on Smoky Mountain homes, this is a great time to plan a visit and start searching for your Smoky Mountain dream. There are almost 3,000 homes to choose from making it easy to find the Smoky Mountain cabin, chalet or other residence that is perfect for you. Begin at our   to view all of the Sevier County, TN homes available.

Here are a few of my featured listings:

Your Smoky Mountain Dream
Smoky Mountain dream cabin for a great price. Wrap around covered decks w/vaulted ceilings and exposed beams. Level yard, patio, spacious rooms and walking distance to Arts & Crafts shops.
Type: Single Family Home
Location:
Price: $239,900
Get more information >

 

High on a Ridge outside of Gatlinburg
Log cabin high on a ridge with spectacular views of the Smokies. Excellent location- only 5 mins to Gatlinburg or Pigeon Forge. Cozy log construction.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $129,900
Get more information >

 

Fantastic Rental Income & Mtn View!
Almost $37K rental income for only 8 months of 2011! Furnished rental with fantastic Mt LeConte view. Lots of decks w/hot tub to enjoy the view. Bedroom suites w/rec room and kitchenette for entertaining. Lots of room for large groups. Sleeps 18.
Type: Single Family Home
Location: Sevierville,TN
Price: $399,900
Get more information >

 

A Very Busy Start For Smoky Mountain Real Estate In 2012

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2012 saw a flurry of activity in January with February picking up even more momentum. There was a marked increase in the number of buyers in the area looking at property and offers being written. So how did January end up for the Smoky Mountain real estate market? Let’s take a look at the numbers released by The Great Smoky Mountain Association of REALTORS. Please note that in an effort to provide the most accurate data available with a focus on our specific area, going forward our monthly market statistics will exclude any properties outside of .

In the category of Residences Sold we see great numbers with only 7 less residences sold than the same month last year.

Residential Dollar Volume for January is down $3,911,688. This may seem like a large number however, with the end of the year this may be largely attributed to foreclosure listings that went under contract in December and closed in January or received price reductions as the banks work to get them off the books. This is actually positive news, knowing that other properties on the market will be competing with less foreclosures in inventory.The Average Sold Price was also down somewhat from last year with a 17% decrease. This may also be related to the liquidation of foreclosure properties.

The category of Active Listings for January 2012 shows an increase of 13%. With the increase of buyer activity and the relative stability of our market the beginning of this year has proven to be a great time to list property for increased exposure to qualified buyers.

As we see lending rules getting tighter we are seeing that getting a property from accepted offer to closing has been taking a little longer than it used to. Because of this we would also like to note that an additional 97 properties went under contract in January but have not yet reached closing. Most will likely close in February and we will begin to see the positive effects of how busy January turned out to be in terms of buyer activity.

 Are you thinking of purchasing your own Smoky Mountain dream? Now may be a great time to start looking. With the expansive inventory of property available and extremely low mortgage rates there are many great opportunities to take advantage of. Take the first step by visiting our to see if your perfect Smoky Mountain get away is already on the market waiting for you.

 Here are a few of my featured listings: 

Hot Buy On Authentic Log Cabin
Over $30,000 in rental income for both 2010 & 2011!! 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 >

 

Smoky Mountain Dream Come True
Produced $24,329 in rental income for 2011! This is what Smoky Mountain dreams are made of, the perfect mountain get-away that combines the best features the area has to offer.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $259,900
Get more information >

 

Come Home To A Resort Setting
Just one mile from Ober Gatlinburg is where you will find this super affordable condo. Nestled in a resort like community you will enjoy all of the best amenities the Smoky Mountain area has to offer.
Type: Condo
Location: Gatlinburg ,Tennessee
Price: $75,000
Get more information >

 

 

More Positive News For Gatlinburg Investors And Sellers

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Along with seeing signs of positive trends in the housing market nationwide and a in the Sevier County, Tennessee area, we have just come across more good news.

Frommer’s began as a travel guide-book series that started in 1957 and is one of the best-selling travel guides in America. They have an award-winning travel website, http://www.frommers.com/, that covers over 3,500 destinations. They have just announced that The Great Smoky Mountains National Park is the 2012 Top Family Destination in the world. They are giving the Great Smoky Mountains a large amount of publicity with their about the area.  How does this affect you as a seller or investor in Gatlinburg?

The Great Smoky Mountains National Park has the highest park visitation in the United States with over 9 million visitors each year. With the help of Frommer’s designation and with the fact that Gatlinburg is the gateway community to the park, we look forward to even more visitors than ever before.

As a seller, this kind of exposure is sure to bring more people to the area. Many visit Gatlinburg and are taken with all that the community offers; easy access to the park, numerous activities, shopping etc. Many buyers we come in to contact with say that they recently visited the area and are now looking to buy a second home here. With more people in the area, interest in real estate will spike and more people will begin to look. If you are thinking of selling let us know, we are happy to provide a to help you determine the potential value of your property.

As an investor, the area is known for beautiful vacation rental properties and mountain cabins with that special Smoky Mountain feel to them. There has been a decline in hotel stays as more people are renting condos or cabins when they visit. They are looking for an authentic mountain experience. As we begin having more and more people visiting the area, now may be a great time to look into purchasing a vacation rental for yourself. We are happy to obtain rental income history for any property you may be interested in as well as providing direction every step of the way. We can assist with statistics, picking a rental management company, a cash flow analysis and more.

Whether you are thinking of buying or selling, this designation is a very positive thing for Smoky Mountain real estate. Stop by our to see what’s going on in the market.

Here are a few of my featured listings:

 

Great Four Level Chalet/Nice Ridge View
Did $25,344 gross rental income in 2010 & $24,445 in 2011. Your own Mountain Escape. Very large 4 level chalet that sleeps 16. Big open space in all rooms and 4 levels of decks. Nice mountain views and walking distance to owners club and pools.
Type: Single Family Home
Location: Chalet Village
Price: $239,900
Get more information >

 

Busy Location for Office/Residential!
Great, busy location ideal for commercial office site. Has a separate entrance for lower level so could be used for two businesses or in-law quarters if used for residential.
Type: Office
Location: Sevierville,TN
Price: $329,900
Get more information >

 

Mt LeConte View w/Large Open Floor Plan
5 bedrooms all with in suite baths for privacy. Huge great room for those family gatherings and could walk to trolley to take to town or to Nat’l Park.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $315,000
Get more information >

 

Are We On Our Way To A Housing Market Recovery?

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As we follow market statistics, news and other sources it seems that we may be headed towards recovery. This week let’s take a look at what everyone is saying, what the trends are and what it all means as you are looking at the purchase or sale of a home.

On January 9th The added 40 new metro areas to its NAHB/First American Improving Markets Index. This is up from  only 41 improving areas  in December, with 31 states represented by at least one entry.The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. In a on January 12th David Crowe, NAHB Chief Economist states “2011 ended on a positive note with economic activity continuing to expand at a moderate rate and the housing sector finally gaining some positive momentum after bouncing along the bottom for most of the year.”

We are seeing banks taking measures to streamline the processing of  backlogged foreclosure inventory and aggressively seeking alternatives to foreclosure. Bank of America and a few other lenders are currently testing a few pilot programs to entice homeowners to pursue a short sale of their property in lieu of letting it go to foreclosure. So what does it all mean?

For sellers:
If you are thinking of selling your Smoky Mountain property, this is all good news. The Smoky Mountain area remained relatively stable throughout 2011, with only minor changes from 2010. You can find the 2011 statistics in our earlier blog post . At the turn of 2012 we have seen a definite spike in activity with interest rates at extreme lows & more qualified buyers entering the market looking for their own Smoky Mountain get away. With the phones ringing, email inquiries pouring in and the influx of people visiting the area to look at property, sellers are seeing a big increase in exposure of their homes to qualified buyers. We would be happy to provide you with a of your property to help you see what it’s true value is in the current market.

For buyers:
Looking to purchase a second home or investment property in the smokies? As mentioned above, we may begin to see less foreclosures, more stabilized prices and a more competitive market as the year progresses. There are many great opportunities still available in the current market and now may be the time to start looking to see what is available. Interest rates are remarkably low & we would be happy to assist you in getting pre-qualified for a mortgage to begin your buying process. For more information about getting pre-approved and why it is so important in today’s market please visit last week’s blog post .

See what opportunities the Smoky Mountain home market has to offer by viewing available homes at our .

Here are a few of my featured listings:

 

Small Price – Large Mountain Home
Almost $27,000 rental income for 2011! Great bargain for future income. Beautiful chalet with lots of room for entertaining.
Type: Single Family Home
Location: Chalet Village
Price: $189,900
Get more information >

 

Charming & Authentic Log Cabin
Did $22,907 in rental income from April – December of 2011. Charming and authentic log cabin located in desirable Sky Harbor community between tourist centers of Gatlinburg and Pigeon Forge.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $179,900
Get more information >

 

Smoky Mountain Money Maker
Smoky Mountain money maker did over $26,000 in rental income for both 2010 & 2011. Nestled in a resort like neighborhood this large cabin is filled with amenities & is close to Dollywood.
Type: Single Family Home
Location: Pigeon Forge
Price: $179,900
Get more information >

 

December Shows Smoky Mountain Homes For Sale Are Still Moving

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We wanted to take this time to look at how the last month of 2011 shaped up for the Smoky Mountain real estate market. We are still seeing a reasonably healthy market with only minor changes from 2010 and plenty of homes in inventory. If you are looking at purchasing investment property now may be the time. A recent article by www.WBIR.com says Pigeon Forge is getting more national attention as a top travel destination.  The article notes that Trip Advisor recently released its 2012 list of the “Top 15 US Destinations on the Rise” with Pigeon Forge making the list at number four. Trip Advisor said one of Pigeon Forge’s advantages is its close proximity to the Great Smoky Mountains National Park and its outdoor activities as well as other attraction options like Dollywood. Let’s take a look at the numbers and see if the Smoky Mountain area may be the perfect place for your next investment.

 In our first category, Total Residences Sold, we see that 2011 is only down by 64 homes from the previous year.

Total Residential Dollar Volume is also down from last year showing a decrease of 9%.

The Average Residential Sale shows only a small decrease of $8,647 from 2010.

Our last category, Active Listings, still shows an increase from last year with 7,071 homes available on the market to choose from. This is a change of 659 homes for sale.

It would seem that the Smoky Mountain area market is still somewhat stable. With plenty of homes on the market as well as all of the national attention as a top destination, this could be the perfect time & place to look at a potential investment home. Get started by looking at the wide array of homes available at .

 Here are a few of my featured listings:

 

Smoky Mountain Views Found Here!
Magnificent mountain views but just minutes to downtown Gatlinburg. This mountain get away is perfect for the buyer looking for a prime location at a great price.
Type: Single Family Home
Location: Chalet Village
Price: $154,900
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. Gravel driveway to the top of the ridge. VERY MOTIVATED SELLERS!
Type: Land
Location: Gatlinburg, Tennessee
Price: $39,900
Get more information >

 

Walk To Arts & Crafts Community
A very unique and artistic log home. Very private yet within walking distance to the arts and crafts community in Pittman Center. Beautiful mountain view from the stone patio,covered front porch w/hot tub, and lots of stained glass throughout.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $168,500
Get more information >

 

 

 

 

The Smoky Mountain Real Estate Market Is Active

Posted by Gatlin on

As we take a look at our month end statistics for Smoky Mountain real estate we continue to see a reasonably active and healthy market. Using data published by The Great Smoky Mountains Association of Realtors let’s explore how things are looking as we move towards year-end.  The GSMAR data we use is year to date and it compares this year to the same timeframe for last year. Though come select areas are still outperforming last year, we will look at the overall view of the entire residential market in this area through November.

In the category of Total Residences Sold, this year is down from 2010 by only 69 residences sold or 5% less.

Total Residential Dollar Volume Sold was also lower in 2011 with $225,111,411 or 9% less than the same period in 2010.

The average 2011 residential sale is still not far off from the 2010 average at  5% or $7,577 lower.

In the last category of Active Listings, 2011 shows plenty of inventory available with 6,870 homes available. This is a 10% increase over the same period in 2010 with 641 more homes on the market.

The real estate market in The Great Smoky Mountains is active. With plenty of Smoky Mountain homes to choose from and mortgage rates still very low, it could be the perfect time to start shopping. Contact your lender to see what kind of great rates are available, visit our website to look at the variety of homes available, then contact our team of professionals to take care of the rest!

Here are a few of my featured homes:

 

Functional Work Of Art W/Stunning Views
Once you see this functional work of art that doubles as a spacious home you’ll never want to leave.
Type: Single Family Home
Location: Chalet Village
Price: $950,000
Get more information >

 

New Construction Full Of Style
Newly built this one is full of style & character. Native stone accents outside with a great exterior color combination. Hand made kitchen cabinets andbathroom vanities crafted from super rare wormy chestnut.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $159,900
Get more information >

 

Handcrafted Custom Home W/Views!
$35,999.58 Rental Income from June 2011 forward. This custom home overlooks the golf course and has amazing mountain views. All the custom features you are looking for are found right here.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $1,500,000
Get more information >

 

Are Homes In Gatlinburg Currently An Unbelievable Buy?

Posted by Gatlin on

Mountain homes across the East Tennessee Smokies have been attractive investments for many years. A recent article through the National Association of Realtors cites some evidence that the U.S. housing market could recover in 2012. Everyone knows that 2011 was a tough year for our country’s housing market. The market has been struggling to find a bottom and build some momentum for most of this year. However, there are forces building that will eventually propel sales and improve prices. NAR Chief Economist Lawrence Yun thinks 2012 will show improvement. Currently the Chief Economist feels restrictive mortgage credit conditions are keeping home sales low. In addition, confidence among consumers has been uncertain. These major factors are holding the market back. When new jobs begin to increase an escalating buyer confidence will emerge. Demand will be driven by the increase in human population growth.

If we see the economic improvements in 2012 inventories of homes should decline aided by weak new home construction. The decline in home inventory would stabilize prices and perhaps drive them higher. Mortgage interest rates are also currently projected to move up in 2012.

None of the 2012 improvements are guaranteed to occur. However, our year-end market in 2011 has good factors for home buyers. First, prices are well off of their highs and the inventory of properties for sale is abundant. Second, for qualified buyers, mortgage interest rates are close to historical lows. In addition, many foreclosures and other distressed properties are forcing prices down. When market forces change and buyer confidence rises, demand will lower inventory and prices will rise. If real estate is in your plans go on our website and begin your search at home. When you narrow your possible residences to purchase, call and set up an appointment with our team of professionals. Everything we do is geared to find you the Smoky Mountain home of your dreams. Call today!

Here are a few of my featured listings:

 

Wonderful Family Home/Fenced Yard!!
Great family home with additional space for possible, media room, in-laws quarters, or teenage paradise. 2 car garage, fenced back yard, and close to Knoxville or Sevierville.
Type: Single Family Home
Location: Sevierville,TN
Price: $269,900
Get more information >
Mountain Streams/View/Private Home
Fantastic creekside location on 1.84 acres in beautiful Pittman Center. Enjoy the ridge top views and private mountain stream from this log cabin. If privacy is what you want this is it. Even a level driveway and easy parking. Comm swimming pool access.
Type: Single Family Home
Location: Pittman Center
Price: $299,900
Get more information >
Sky Walk To Balcony & Mountain Views
Want a great investment property? Then this is it! Already on a rental program and has a great rental history. Recently updated, offers private bedroom suites, and has a sky walk to balcony and mountain views.
Type: Single Family Home
Location: Chalet Village
Price: $229,900
Get more information >