Property Owners: How to Keep Your Short-Term Rental Property in Great Condition

Posted by Jason White on March 18, 2023

Owning a short-term rental property can be a great investment, but it comes with its own set of challenges.

One of the most important aspects of owning a short-term rental property is maintaining it properly.

A well-maintained property can provide a positive experience for guests and increase the property’s value.

In this blog post, we will discuss some tips for keeping your short-term rental property in tip-top shape!

Maintenance

Creating a maintenance plan is an essential step in keeping your short-term rental property in great condition.

As a short-term rental property owner, it is essential to regularly inspect your property to ensure that it is in good condition for guests. By addressing issues promptly, you can minimize the impact they have on your guests and prevent them from becoming larger, more expensive problems. Here is a list of inspections that you should complete on your short-term rental property:

Electrical system inspection: The electrical system should be inspected at least once a year to ensure that it is in good working order. This inspection should include checking outlets, light fixtures, and the circuit breaker box.
HVAC system inspection: The HVAC system, including air conditioners and heaters, should be inspected and serviced at least twice a year to ensure that they are working efficiently .
Roof inspection: The roof should be inspected at least once a year to ensure that there are no leaks or other issues that could cause damage to the property.
Exterior inspection: The exterior of the property should be inspected regularly to ensure that there are no issues such as cracks, leaks, or other damage.
Interior inspection: The interior of the property should be inspected regularly to ensure that there are no issues such as leaks, cracks, or other damage. This inspection should include checking for water damage, mold, and pest infestations.
Smoke detector and carbon monoxide detector inspection: Smoke detectors and carbon monoxide detectors should be inspected at least twice a year to ensure that they are in good working order.
Fire extinguisher inspection: Fire extinguishers should be inspected at least once a year to ensure that they are in good working order.

If you are an out of state owner your property management company will likely help you complete any inspections necessary to maintain the integrity of your home.

Cleaning

Cleaning is an essential part of maintaining a short-term rental property. A clean property can make guests feel comfortable and help them enjoy their stay!

Regular cleaning between guests is essential to maintain a short-term rental property’s condition and ensure that it is safe and hygienic for guests. It is also important to clean and sanitize high-touch areas such as door handles, light switches, and remote controls.

Deep cleaning should also be done regularly to prevent future issues and maintain the property’s overall condition.

Repairs

It is important to address any repairs or maintenance issues promptly to prevent them from turning into larger problems. Be sure to keep a list of reliable contractors on hand for any necessary repairs that require a professional.

Plumbing issues: Plumbing issues such as clogged drains, leaking pipes, and broken toilets are common in rental properties. These issues should be addressed as soon as possible to prevent further damage to the property.
Electrical issues: Electrical issues such as faulty outlets, broken light fixtures, and malfunctioning appliances can be dangerous if left unaddressed. These issues should be fixed as soon as possible to ensure guest safety. HVAC system issues:
HVAC systems such as air conditioners and heaters may need repairs if they are not functioning properly. Appliance repairs: Appliances such as refrigerators, ovens, and dishwashers may need repairs from time to time. These repairs should be addressed promptly to prevent further damage to the appliance and ensure guest satisfaction.
Roof repairs: Roof leaks and other roofing issues can be expensive to repair if left unaddressed.
Flooring repairs: Flooring issues such as torn carpeting or cracked tiles can make the property appear unkempt and may be a safety hazard. These issues should be addressed as soon as possible to ensure guest safety and maintain the property’s appearance.
Painting and drywall repairs: Paint chips and drywall damage can make the property look shabby and worn. These repairs should be addressed as soon as possible to maintain the property’s appearance.

Landscaping

Maintaining the outdoor space of a short-term rental property is just as important as the inside. A well-maintained outdoor area can create a positive first impression for guests.

Keep the lawn trimmed, bushes trimmed, and remove any debris or garbage.

Regularly check outdoor lighting to ensure that the space is well-lit and safe for guests.

Maintaining a short-term rental property is essential for both the guest’s experience and the property’s value. By creating a maintenance plan, cleaning regularly, addressing repairs and maintenance issues promptly, and maintaining the outdoor space you can keep your property in great condition.

What You Need to Know: Tree Removal and Liability

Posted by Jason White on March 5, 2023

Tree Removal and Liabilities - What you need to know

Trees are an important part of our natural environment, but must be properly maintained or they can pose a risk to nearby buildings and properties.

In this blog post, we will answer some of the most common questions people have about tree removal and liability for damage to neighboring properties.

Who is responsible for tree removal cost?

The responsibility for the cost of removing a tree depends on a number of factors, including

the reason for the removal
the location of the tree.

If the tree is on private property and needs to be removed for reasons of safety or health, the property owner is generally responsible for the cost of removal. If the tree is located on public property, such as a sidewalk or park, the cost of removal may be the responsibility of the municipality or other public agency.

I’m not sure a tree is mine, how can I find out?

The University of Tennessee Extension Institute of Agriculture published an article on Tree Owner’s Rights and Responsibilities. You can view it here.

What steps should I take to prevent tree-related damage to my neighbor’s property?

To prevent tree-related damage to your neighbor’s property, you should regularly inspect your trees for signs of disease or damage, and have any necessary maintenance or pruning done by a qualified professional. You should also be aware of any potential risks posed by your trees, such as overhanging branches or weak roots, and take steps to mitigate those risks.

Can my neighbor make me remove my tree if it is causing damage to their property?

If a tree on your property is causing damage to your neighbor’s property, your neighbor may ask you to remove the tree. In some cases, your neighbor may be able to take legal action to compel you to remove the tree if it is posing a significant risk or if it is causing significant damage to their property.

What types of damage can a tree cause to neighboring properties?

Trees can cause a range of damage to neighboring properties, including damage to buildings, fences, and other structures, as well as damage to landscaping, vehicles, and other property.

In extreme cases, falling trees can also cause injury or death.

What happens if a tree falls on my neighbor’s property and causes damage?

If a tree on your property falls and causes damage to your neighbor’s property, you may be held liable for the cost of the damage.

Liability will depend on a number of factors, including the cause of the tree’s fall and whether or not you knew or should have known that the tree was at risk of falling.

Can my neighbor sue me if my tree damages their property?

Yes, your neighbor may be able to sue you if your tree damages their property.

However, liability will depend on a number of factors, including the cause of the tree’s fall and whether or not you knew or should have known that the tree was at risk of falling.

If the tree fell due to natural causes, such as a storm or other act of nature, you may not be held liable.

However, if the tree fell because it was diseased, damaged, or otherwise unstable, and you knew or should have known about the risk, you may be held liable for the cost of the damage.

It’s important to note that liability for tree-related damage can be a complex issue, and may depend on local laws and regulations, as well as the specific circumstances of each case.

If you are facing a legal dispute related to tree-related damage, it’s recommended to consult with a qualified legal expert.

Is it necessary to obtain permission from my neighbor before removing a tree?

In most cases, you do not need to obtain permission from your neighbor before removing a tree on your property. However, it is a good idea to inform your neighbor of your plans and discuss any potential concerns they may have.

What are the legal requirements for tree removal in my area?

The legal requirements for tree removal vary depending on the location and the specific circumstances. In general, it is a good idea to check with your local municipality or other relevant authorities to find out what the legal requirements are in your area.

To find out more information about the specific regulations in your area, we recommend contacting your local municipality. Here are some contact details for local municipalities:

If I own a home in Sevier County, who can help me with tree removal?

The city of Gatlinburg provided a list of tree trimming and removal experts, you can find it here.

As a property owner, it’s important to take steps to maintain and manage your trees to prevent damage to neighboring properties and minimize liability for tree-related accidents.

Regular inspection and maintenance by qualified professionals can help identify and address potential risks posed by your trees, and communication with your neighbors can help avoid disputes and legal action. If you are facing a legal dispute related to tree-related damage, it’s recommended to seek legal advice to better understand your rights and responsibilities.

By being proactive and responsible, you can enjoy the benefits of trees on your property while minimizing the risks and liabilities they may pose.

*It’s important to note that the information provided in this blog post is for general informational purposes only and should not be construed as legal advice. While we have made every effort to provide accurate and up-to-date information, we cannot guarantee the accuracy or completeness of the information provided.

Heading Into 2014, The Great Smoky Mountain Real Estate Market Continues to Show Slow, But Steady, Growth

Posted by Gatlin on January 9, 2014

Throughout this past year, we have seen both the national and local real estate markets continue to show slow, but steady, growth on the whole. As we look at the statistics for the Great Smoky Mountain real estate market through December of this past year, we will see that these trends, particularly in this real estate market, are largely holding steady, as we now begin into a new year. Let’s now see what the numbers have to say.

In the category of Residences Sold, we see that in comparing December 2013 to that of December 2012, the number of residences sold held steady with an increase by 1% in terms of homes sold, in that 13 more homes were sold as of December 2013, as opposed to December 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we see that the market continues to show gradual, but steady, growth on the aggregate.

In the category of Residential Dollar Volume for the year, we see an increase of 7% through December of 2013, as opposed to through December in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices still continue to show that a greater dollar volume in homes are being sold, along with still continuing to show a slow 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 past year, prices still show a slow, but gradual, rise of 6% in December of this year versus that of December 2012, reflecting the recent local and national trends towards gradually higher home prices. As confidence continues to grow between potential buyers and sellers in the market as a whole, we see that the trend of higher home prices will likely continue for the foreseeable future.

In addition, available homes on the market are actually increasing in terms of inventory. Through December 2013, as opposed to December 2012, there is a slight increase by 1% of homes being listed as available on the market, or an increase of 29 more available homes on the market, in December 2013, as opposed to December 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is still too early to tell if the trend will continue into 2014, there are more available homes on the market in December 2013, as opposed to one year ago, which could further indicate greater confidence on the part of those wanting to place their homes on the market.

As markets continue this gradual trend of growth locally and across the nation, these statistics, heading into 2014, are largely expected to remain steady, showing continued slow, but steady, strength and growth into the new year. 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 for you? Let us help you make your home ownership dreams a reality today!

Here Are A Few of My Featured Listings:

High Chalet Condo Near Ober Gatlinburg! Contemporary, 2 BD/2 BA, well-maintained, condominium unit w/views of Ober Gatlinburg and the surrounding Smokies! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $77,900 Get more information >

Unique Chalet Adjacent to Nat’l Park! The enchanting, twinkling lights of Gatlinburg far below and majestic mountain vistas are what you’ll see from this pristine 12 acre estate. Imagine having your own 530,000 acre backyard! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

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: $299,900 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.gatlinburgrealestateforsale.com

Recent New Home Sales Surge Nationally Despite Slowly Rising Mortgage Interest Rates and Possible Fed Tapering

Posted by Gatlin on December 19, 2013

As we head towards the end of 2013, and into the start of 2014, there are some noteworthy national trends in real estate that are worth watching. These primarily center on the increasing likelihood of rising mortgage interest rates, as well as the possibility of the Federal Reserve beginning to taper, or slow down, its long-running bond buyback program. Both trends could foretell significant changes in the real estate market nationally in 2014.

In spite of these emerging trends, there are some other numbers worth noting in terms of the national real estate market that could also impact the coming year. One of these is that new home sales surged in October 2013 by 25% from the previous month, according to a report released by the U.S. Department of Commerce.

According to Keith Gumbinger, Vice-President of the mortgage information site HSH Associates, “It may very well be that a lot of folks are feeling better about their prospects and buying a new home.” In addition, Gumbinger also stated that there has been a general ease of financing for buyers, as “builders are motivated to get folks into homes.” Finally, Gumbinger also said that inventories of existing homes are thin in several markets, prompting people to build new homes rather than buy old ones.

The largest trend, however, in the coming year will center on the very real possibility of rising mortgage interest rates, especially since the Fed is currently weighing whether or not to start with tapering, or reducing the amount and scale to the Fed has been buying back bonds and securities since the 2008 financial crisis. The key to any real impacts will center on job and wage growth in the economy as a whole, and rising home prices will also have an impact as to whether or not there will be more buyers and sellers on the market in the coming year. At this point, it is too early to state how much of an impact this will have on the market, even though mortgage rates, from a more historical perspective, still remain low by comparison.

In view of these emerging trends, as well as recent surges in both home prices and new home sales nationally, there has never been a better time to find the home of your dreams, right here in the Great Smoky Mountains! Please feel free to browse our available inventory of properties, and see the many varieties of properties that we currently have here in the Smokies! Let us help you realize your home ownership dreams today!

Here Are A Few of My Featured Properties:

Private Log Cabin w/Amazing Mtn. Views! Enjoy privacy, mountain views and great outdoor spaces in this Sevierville log home that sits on over four acres! Type: Single Family Home Location: Sevierville,TN Price: $359,900 Get more information >

Luxurious Cabin w/Amazing Mtn. Views! Luxurious, scenic, 3 BD/4.5 BA, 2,600+ sq ft log cabin with spectacular views of the Smokies and a virtual bird’s eye view downtown Gatlinburg and surrounding areas! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $369,900 Get more information >

Unique Sevierville Home w/Large Backyard Beautiful, masonry-style, 3 BD/2.5 BA, 3700+ sq. ft. home located within minutes to Dollywood! Type: Single Family Home Location: Sevierville,TN Price: $299,900 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 December, The Great Smoky Mountain Real Estate Market Remains Steady

Posted by Gatlin on December 5, 2013

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

In the category of Residences Sold, we see that in comparing November 2013 to that of November 2012, the number of residences sold held steady with an increase by 1% in terms of homes sold, in that 16 more homes were sold as of November 2013, as opposed to November 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we see that the market continues to show gradual, but steady, growth on the aggregate.

In the category of Residential Dollar Volume for the year, we see an increase of 5% through November of this year, as opposed to through November in 2012. With the steadiness of the numbers as it relates to Residences Sold, the recent local and national trends of increasing home prices still continue to show that a greater dollar volume in homes are being sold, along with still continuing to show a slow 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 slow, but gradual, rise of 4% in November of this year versus that of November 2012, reflecting the recent local and national trends towards gradually higher home prices. As confidence continues to grow between potential buyers and sellers in the market as a whole, we see that the trend of higher home prices will likely continue for the foreseeable future.

In addition, available homes on the market are actually increasing at the moment. Through November 2013, as opposed to November 2012, there is a slight increase by 1% of homes being listed as available on the market, or an increase of 51 available homes on the market, in November 2013, as opposed to November 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is still too early to tell if the trend will continue, there are more available homes on the market in November 2013, as opposed to one year ago, which could further indicate greater confidence on the part of those wanting to place their homes on the market.

As markets continue this gradual trend of growth locally and 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 for your and home ownership dreams today?

Here Are A Few of My Featured Listings:

Luxurious Condo w/Majestic Mtn. Views! Luxurious, spacious condominium unit located at LeConte Towers in Gatlinburg, w/a majestic view of Mt. LeConte and the Smoky Mtns.! Type: Condo Location: Gatlinburg, Tennessee Price: $339,000 Get more information >

Multi-Family Duplex w/Amazing Mtn Views! Beautiful, private, 2 acre multi-family duplex with postcard-style views, and literally a majestic view of the Great Smoky Mountains from almost any room on either level! Type: Single Family Home Location: Gatlinburg, Tennessee Price: $398,000 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 >

Tools for Real Estate Investment 101: Self-Directed IRA’s and Your Real Estate Investment Needs

Posted by Gatlin on November 21, 2013

As home prices continue their gradual trend of rising during 2013, there are various investment tools that can be utilized by potential buyers and/or sellers in considering whether or not to invest in real estate, especially here in the Great Smoky Mountain real estate market. Today, we will focus on one of these investment tools, which has gained popularity in recent years, namely that of the self-directed IRA (Individual Retirement Account).

A Self-directed Individual Retirement Account (IRA) is not your typical IRA since it allows the account owner to invest in a wider set of assets than those offered by custodians and trustees of traditional IRAs. This separates a Self-directed IRA from other types of IRAs since the account holder can decide what permissible investments to put his or her money into without having the custodian or trustee set a limit on what investments to pursue, hence the term “self-directed.” In other words, the account holder is limited only by the rules set by the Internal Revenue Service (IRS) and of course, his or her choice of investments. In addition, the custodian or trustee is also in charge of facilitating all other transactions that involve the Self-directed IRA.

Some potential advantages of using a Self-directed IRA include, but are not excluded to, the following:

1.) Having a Self-directed IRA allows an account holder to purchase properties anywhere that’s allowed by law. Almost every type of real estate is permissible such as residential and commercial property, real estate options, and the like.

2.) Purchasing property can also be done without paying all the required capital. For example, account holders can participate in a limited liability company (LLC) that directly invests in real estate.

3.) Many account holders have already taken advantage of the current buyers’ market where property prices are low and foreclosure rates are high. They can attest to how they’ve benefited from their diversified portfolio within their Self-directed IRA.

4.) Usually, real estate investments purchased within a Self-directed IRA are intended as long-term investments. This means that once an account holder buys a property, they will hold onto it until its value appreciates and is ready to be sold. In other words, the “buy-low, sell-high” concept is well suited for this type of IRA.

5.) Selling an IRA-owned home lets the owner avoid paying capital gains tax if the proceeds are rolled back into the IRA. This especially applies to those who rehab properties in rundown condition and flip them for quick profit.

However, there are limitations as to what a Self-directed IRA can do, including, but not excluded to, the following:

1.) The Self-directed IRA cannot purchase real estate from a “disqualified person” either directly or indirectly. It also prohibits a “disqualified person” from using a property purchased within a Self-directed IRA. A “disqualified person” includes, but is not excluded to: Your spouse, your lineal ascendants/descendants and their spouses, plan fiduciaries (including advisors, custodians, and administrators), an entity (i.e., estate, corporation, etc.) where you own at least 50% of the voting stock, directly or indirectly, and anyone providing services to the plan.

2.) The purchased property cannot be used by the account holder – not even for a night. Only qualified people may use it and this does not include one’s relatives. Unless the account holder is 59 and a half years old and retired, then living in the investment property is deemed illegal.

3.) Account holders and family members cannot buy or sell property directly from their IRA. Likewise, it is also forbidden to buy or sell directly from the companies or enterprises that they own.

4.) Borrowing or lending money from the IRA is not allowed, and the IRA cannot be used to lend money to family members or as collateral for any type of loan.

5.) IRA funds and personal accounts cannot be combined or co-mingled.

6.) Those involved in the servicing of the Self-directed IRA account are not allowed to participate in any transaction that involves the account.

With a Self-directed IRA, you will have to find a reliable custodian or trustee to open an account and comply with the IRS requirements, and set up the account with a bank or other financial institution. When an investment property has been selected, the account holder would then authorize the custodian to pay a deposit from the Self-directed IRA by signing an authorization form. After which, the account holder must complete the necessary documents and forward them to the custodian or trustee. The closing agent will then coordinate the remainder of the transaction and release any additional funds required.

Finally, Self-directed IRA’s, like any other investment in real estate, do involve a lot of risk. First, it is recommended that one invests only 25 percent at the most if you are not inclined to be a “risk taker.” With the prices of properties at their current levels, you can probably find one that you may like. Second, keep in mind that the Self-directed IRA is making the investment — not you or anyone else. You can’t simply take the cash flow that you earn from your investment property since the custodian or trustee is in charge of it through your IRA. Third, be sure to leave enough funds in your Self-directed IRA to cover unexpected expenses related to your property, such as tenant turnover, maintenance and repairs. This will put you in a safe position should you incur any “additional” costs. Finally, please always seek the advice of qualified real estate investment professionals that can help you find the properties that would be best suited for your overall retirement goals. Like anything else, always ask questions, and make sure to get as much as information as you can before using this investment tool, or any other investment tool, before deciding to act on it.

With this basic knowledge and understanding of a potentially powerful investment tool for real estate, why not see what the Great Smoky Mountains real market can offer you today? Please feel free to browse our available properties, and let one of our buyer specialists help realize your home ownership dreams today! Come and see what the Great Smoky Mountains can offer you today!

Here Are A Few of My Featured Listings:

Nice Ranch-Style Home in Sevierville! Beautiful, well-maintained, 1,300+ sq ft, 3 BD/2 BA ranch-style home located in Sevierville, is walking distance to the nearby Pigeon River, along with being mins. to Dollywood, Pigeon Forge, and downtown Sevierville! Type: Single Family Home Location: Sevierville,TN Price: $159,900 Get more information >

Beautiful Private Cabin w/City View Beautiful, private 4 Bedroom/3 Bathroom cabin located just below Ober Gatlinburg w/a 20-mile view! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $195,000 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 >

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 November, The Great Smoky Mountain Real Estate Market Continues to Show Slow, But Steady, Growth

Posted by Gatlin on November 7, 2013

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

In the category of Residences Sold, we see that in comparing October 2013 to that of October 2012, the number of residences sold actually increased by 1% in terms of homes sold, in that 11 more homes were sold as of October 2013, as opposed to October 2012. This continues a trend of steadiness, and even very slight growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed reflect a steady and slowly growing trend on balance, and we expect this to continue and improve over time.

In the category of Residential Dollar Volume for the year, we actually see an increase of 6% through October of this year, as opposed to through October 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 are being sold, along with continuing to show a slow 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 slow, but gradual, rise of 5% in October of this year versus that of October 2012, reflecting the recent local and national trends towards higher home prices. As inventory continues to decrease, we expect average home prices to continue their slow and gradual increase, in line with both national and local real estate market trends.

In addition, available homes on the market are actually increasing at the moment. Through October 2013, as opposed to October 2012, there is an increase by 1% of homes being listed as available on the market, or an increase of 69 available homes on the market, in October 2013, as opposed to October 2012. We see that higher home prices, as well as the very slight increases in homes being sold, may be contributing to more people wanting to place their homes on the market, thereby causing a slight increase in available housing inventory. While it is too early to tell if the trend will continue, there are more available homes on the market in October 2013, as opposed to one year ago, which could indicate greater confidence on the part of those wanting to place their homes on the market.

Here Are A Few of My Featured Listings:

Spacious Riverfront Home in Sevierville Spacious, 3000+ sq ft home located along the beautiful Pigeon River, which is located right behind this home! Type: Single Family Home Location: Sevierville,TN Price: $329,900 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 >

Unique Chalet Adjacent to Nat’l Park! The enchanting, twinkling lights of Gatlinburg far below and majestic mountain vistas are what you’ll see from your own pristine 12 acre estate. Imagine having a 530,000 acre backyard! Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

Featured Listing for November 5, 2013 – Misty Mountain (808 San Remo Drive)

Posted by Gatlin on November 5, 2013

The enchanting, twinkling lights of Gatlinburg far below and majestic mountain vistas are what you’ll see from your own pristine 12 acre estate. Imagine having a 530,000 acre backyard! It is here that the Great Smoky Mountain National Park wraps around your very own unique, wildlife sanctuary. You can walk out your back door and in minutes be at Cataract Falls or stroll along the river into town. Perhaps, you might like instead to drive an easy mile from your 6000 square foot home into town for fine dining and entertainment, which you can do in minutes. All of this and so much more awaits your inspection of this incredible, one of a kind property.

This 12 acre property has access to water and sewer lines for any possible future development. It features a level yard with an orchard of peach, cherry and plum and well as plenty of space for a garden. This mountain estate features three levels with four bedrooms plus numerous other rooms with plenty of room for dining and entertainment. It also includes a sauna, hot tub and gym. Totally remodeled and ready to be used as a residence, vacation rental, or retreat center. New hardwood flooring, new HVAC, new roof, new appliances, and new light fixtures. Additionally, two massive hand-crafted, wood burning stone fireplaces which feature the artistry of a master stone mason. The one in the main living area soars upward seventeen feet to the skylighted ceilings. Additionally there are two gas stone fireplaces, stone and slate patios, open sun deck, enclosed sun room, mature gardens, and several fenced acres for pets to create an environment that is truly one of kind. You’ll never find another unique place like this one! Especially, since it’s priced $100,000.00 below appraisal!!! Once this is grabbed up, there isn’t another one like it. So when might be the best time for you to see it? . Right now, before it’s gone!

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

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Federal Reserve’s Decision Wednesday to Continue Stimulus Could Keep Short-Term Interest Rates Low for Immediate Future

Posted by Gatlin on October 31, 2013

Real Estate Investing

On Wednesday, the Federal Reserve made the announcement that it would continue its long-running stimulus program of asset purchases and low interest rates. The Fed was widely expected to continue adding $85 billion a month to its portfolio of Treasury securities and mortgage-backed securities, particularly after the disruptive partial shutdown of the federal government in the first half of October.

The Fed maintained a relatively optimistic economic outlook in the statement, released after a scheduled two-day meeting of its policy-making committee. It said the economy continued to expand “at a moderate pace” and that the availability of jobs continued to improve.

“Taking into account the extent of federal fiscal retrenchment over the past year, the committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program as consistent with growing underlying strength in the broader economy,” the Federal Open Market Committee said in its statement. “However, the committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”

As a result of the Fed’s decision, the expectations are that short-term interest rates will remain low, at least for the immediate future. Fears about higher interest rates, especially on mortgages, have been on the rise since the Fed had also recently indicated a slowdown, or tapering, of its ongoing stimulus program. Fed officials had spent much of the summer preparing investors for a retreat from the bank’s stimulus campaign before the end of the year. That remains a possibility: The Fed’s policy-making committee is scheduled to meet for the final time this year in mid-December. However, no timetable or other decision on any tapering is expected from the Fed until at least mid-December, at the earliest.

What does this all mean for you? With low short-term interest rates still anticipated for at least the immediate future, there are many great deals and properties available here in the Great Smoky Mountains, with many types of homes and great deals still available! Please feel free to browse our available properties today, and let us help you find the home of your dreams!

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Contemporary Home w/Mt. LeConte View! Well-built and designed 3BD/2.5BA home with a bonus room and attached 2-car garage, located just minutes from dwtn. Gatlinburg and all of the attractions. Type: Single Family Home Location: Gatlinburg, Tennessee Price: $375,000 Get more information >

Unique Chalet Adjacent to Nat’l Park! 12 pristine acres bordering Great Smoky Mtns. National Park w/direct views of downtown Gatlinburg & surrounding mtns. Cove Mountain Trail literally touches the rear property line. Type: Single Family Home Location: Gatlinburg,Tennessee Price: $697,000 Get more information >

Latest News from the National Association of Realtors (NAR) Shows Existing Home Sales Are At Their Highest Levels Since 2007

Posted by Gatlin on October 10, 2013

Existing-home sales increased in August and reached the highest level in six-and-a-half years, while the median price shows nine consecutive months of double-digit year-over-year increases, according to the National Association of Realtors (NAR).

Total existing home sales, which include completed transactions for single-family homes, townhomes, condominiums, and co-ops, went up by 1.7% to a seasonally adjusted annual rate of 5.48 million units in August from that of 5.39 million units in July. This is also 13.2% higher than the 4.84 million units sold in August 2012, one year prior to August 2013.

Sales are at the highest pace since February 2007, when they hit 5.79 million, and have remained above year-ago levels for the past 26 months.

According to Lawrence Yun, the chief economist for NAR, “rising mortgage interest rates pushed more buyers to close deals, but monthly sales are likely to be uneven in the months ahead from several market frictions.” These could include decreasing existing home inventories, as well as more restrictive lending standards, along with the potential for higher interest rates in the long-term.

In addition, while it is unclear at this point, the ongoing government shutdown could also pose potential longer-term complications from agencies, such as FHA (Federal Housing Administration), the IRS, and others, being at least partially shutdown or closed all together. External pressures such as these also could have a longer-term impact on the market itself.

However, according to NAR President Gary Thomas, “As the equity position of most homeowners continues to improve, some who have been on the sidelines will list their home for sale,” he said. “Most of those owners also will be buying another home, but higher levels of new home construction going into 2014, combined with some reduction in demand from less favorable affordability conditions, will help to moderate price growth to more sustainable levels.”

What does this all mean for you? Right now, there are still many great properties available in the Great Smoky Mountains real market, and if you are interested in buying a new home, today is the best time for you to realize your dreams of home ownership. Please feel free to browse our available properties, and see what we can do to help you find a new home here in the Great Smoky Mountains today!

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Great Mountain View Consistently produces income in the high $20k range. Cabin with a view, tongue and groove throughout, wood floors, recreation room with pool table and air hockey for your enjoyment. Type: Single Family Home Location: Pigeon Forge Price: $239,900 Get more information >

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 >

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