Spring Home Maintenance Checklist for Your Short Term Rental in the Smokies

Posted by Jason White on

 

The weather is clearing, flowers are blooming, birds are chirping and now is a great time to go through a Spring Maintenance Checklist for your Short Term Rental in the Smokies. 

This blog post will walk you through 7 areas that could use your attention this spring. 

Performing regular maintenance on your short term rental helps you maintain the value of your home and to prevent costly repairs as your home ages. 

 

#1 Inspect the Exterior of Your Home 

Winter can be rough on your home’s exterior! Spring is a fantastic time to take a good look to evaluate if your home might need repairs.

Begin your visual inspection by looking for cracks, peeling paint, warped boards, or loose siding. 

If your home’s exterior is looking a bit dated, Spring is a great time to schedule a fresh stain, or siding replacement. 

 

#2 Clean Your Gutters and Downspouts 

Proper gutter and downspout maintenance may seem like a small task, but it can save you from costly headaches in the long run! 

Clogged gutters and downspouts can lead to water damage, foundation issues, and roof leaks if not attended to. 

It’s important to remove obstructions and ensure water is being directed away from your home’s foundation. 

 

#3 Inspect and Clean Your HVAC System

Spring is here, which means that summer is well on its way! And summer in the Smokies is no joke – it’s important that you prepare your HVAC system to function optimally for the busy summer season. 

An HVAC inspection can extend the lifespan of your system and ensure it’s operating optimally! 

Your HVAC inspection may include: 

  • Replacement of filters
  • Inspection of ducts for dust, mold and debris
  • Testing of fan motor
  • Check the HVAC cabinet for leaks
  • And More 

Completing regular maintenance on your HVAC system is an excellent way to prevent costly and untimely repairs. 

 

#4 Inspect Your Doors and Windows

Now is the time to check your door and windows for any air leaks, gaps, or cracks that might need to be repaired. 

In order to maintain a tight seal you may need to replace weatherstripping around your doors, or caulking around your windows. 

If your doors and windows are aging you might consider a replacement to more energy efficient materials. 

 

#5 Inspect Your Deck or Patio 

It’s officially porch season! It’s time to give your space a good clean – remove debris, dirt, or mildew buildup. 

Once clean, you’ll want to inspect your decking for any signs of water damage, loose boards, railings, pest damage, or any other damage. 

You might consider adding a fresh coat or stain or sealant. 

Taking care of small issues on your deck can help prevent costly repairs in the future. 

 

#6 Inspect Your Roof 

Your roof is your home’s first line of defense against the elements. 

Take a close look at your roof as part of your spring maintenance routine. 

You’ll want to look for missing, cracked, or loose shingles, as well as any water stains or leaks in your attic or ceiling which could be a sign of something more serious.

If you notice any serious issues or are unsure about the condition of your roof – call in a professional roofing contractor so that they can compete an inspection for you. 

 

#7 Pest Inspections and Prevention

Pests like porch season too! Now that the weather is warmer, household pests are coming out to play.

Completing some of the other items on the Spring Maintenance Checklist like inspecting your doors, windows, deck, and roof will help you keep pests at bay. 

You may also want to 

  • Take a look around your foundation for any cracks 
  • Make note of any area where you see droppings, chewed materials, or nesting areas

If you have any infestations or disturbances due to pest it’s best to call in a professional pest control service.

Learn more about common pests and how to prevent them here! 

 

As a short-term rental owner in the Smoky Mountains, completing preventative maintenance on your rental property allows you to keep your home in tip-top share, which provides a steady stream of bookings and repeat guests! 

 

3 Amenities to Maximize Your Short Term Rental Income

Posted by Jason White on

In this blog post, we’re diving deep into three amenities that can help you maximize your rental income: pools, gyms, and hot tubs.

AirDNA provides a few stats related to the availability of these amenities 

  • Pools are found in 44% of luxury properties, versus 25% of budget properties.
  • Hot tubs are featured in about 33% of luxury listings, while only 5% of budget properties include them.
  • Gyms appear in approximately 24% of luxury properties, compared to 16% in budget listings.

 

 

Pools 

There are so many different ways you can provide pool access for your short term rental – resort pool, inground outdoor pool, above ground outdoor pool, stock tank pool, swim spa, or inground indoor pool, and probably many more creative ideas we haven’t listed. 

Most often we see these three types of pools at short term rentals in the Smokes 

  • Resort access 
  • Inground indoor 
  • Swim spa 

Why a pool at your short term rental?

Providing a way for your renters to create memories with the group they are traveling with without leaving your property is a huge benefit! 

Not only is this a benefit to your guest, but can be a benefit to you as a property owner through increased desirability and the ability for higher nightly rates. 

 

Maintenance considerations for the pool at your short term rental

You’ll want to consider ongoing maintenance when deciding if a pool is right for you as a short term property owner, such as 

  • Regular cleaning and chemical treatment.
  • Safety measures (fencing, pool rules, etc.).
  • Potential liability concerns and insurance coverage.

“Specifically, luxury listings with pools see a Revenue Per Available Rental (RevPAR) increase of around 38% compared to those without pools.”

 

Hot tubs 

Your guests have most likely packed their schedules full of fun things to do while they are in town, whether that be a full day out on the town or hiking in the Smokies. 

Providing a way for them to wind down and relax after a long day is such a benefit! 

Not only does a hot tub provide a relaxing experience for your guests, it can also be a benefit to you as property owner by complementing your outdoor space and allowing you to command a premium nightly rate. 

You’ll want to consider ongoing maintenance when deciding if a hot tub is right for you as a short term property owner such as regular cleaning, chemical treatment. As well as, potential liability concerns and required insurance coverage. 

“With a reported RevPAR increase of around 33% for luxury properties with hot tubs.”

 

Gyms 

Maintaining your health is extremely important – what a benefit to provide the ability to do so without having to take additional time out of their well deserved vacations to find the opportunity to do so. 

Adding a gym, whether big or small, to your vacation rental allows you to meet the needs of health conscious individuals conveniently! 

You’ll want to consider potential liability concerns and required insurance coverage when deciding if adding a gym to your short term rental property is advantageous for you. 

“While the inclusion of pools and hot tubs offers the largest RevPAR and occupancy boosts for higher-tier properties, the inclusion of gyms actually benefits lower-tier properties more. They experience a larger boost in RevPAR and occupancy rates.”

 

*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. 

 

Fall Property Maintenance: A Comprehensive Guide for Short-Term Rental Investors

Posted by Jason White on

Welcome to our guide to fall property maintenance! Fall property maintenance is not only essential for the longevity and functionality of your investment, but it also plays a crucial role in attracting and retaining guests. 

In this guide, we will walk you through the essential exterior and interior maintenance tasks that every short-term rental investor should prioritize during the fall months. Let’s dive in and get your rental properties ready for the autumn season!

The Importance of Fall Property Maintenance for Short-Term Rental Investors in the Smoky Mountains

Not only does it ensure that the property remains in tip top shape it can also have a direct impact on rental revenue and guest satisfaction! By conducting inspections, investors can catch problems early on and prevent them from developing into larger, more costly issues.

When it comes to fall property maintenance, there are several tasks that should be prioritized. 

Exterior tasks include: 

  • Cleaning gutters and downspouts to prevent water damage
  • Inspecting and repairing the roof to ensure it is in good condition
  • Clearing debris from the yard and landscaping to maintain curb appeal
  • Cleaning and inspecting windows and doors for proper functionality
  • Inspection theHVAC system


Interior maintenance tasks include:

  • Checking and maintaining heating systems to ensure they are working efficiently
  • Inspecting and maintaining plumbing and electrical systems to prevent leaks or electrical issues
  • Addressing any pest control issues to maintain a clean and comfortable environment for guests
  • Cleaning, inspecting, and repairing appliances in your rental properties. This helps to prolong their lifespan and prevent breakdowns.
  • Cleaning and maintaining fireplaces, chimneys, and vents 

 

Safety and security measures should also be a priority when it comes to preventive maintenance! 

Safety and security maintenance tasks include:

  • Regularly reviewing and updating security systems
  • Checking and repairing outdoor lighting 
  • Checking and maintaining locks and entry points
  • Testing smoke detectors and carbon monoxide alarms to ensure they are functioning properly
  • Inspecting and maintaining fire extinguishers

By staying proactive with fall property maintenance  you can reduce expenses, increase income, and ensure guest satisfaction in your short-term rental properties! 

Happy autumn and happy renting!

 

The Lifespan of Appliances for Rental Properties: What to Expect and How to Plan Ahead

Posted by Jason White on

As a short-term rental property owner, it’s essential to understand the lifespan of the rental property appliances.

 

 Knowing how long these items typically last can help you plan for repairs and replacements, ensuring your guests have a comfortable and safe stay. In this blog, we’ll provide an overview of the major appliances found in short-term rentals, their typical lifespan, factors that can affect their lifespan, and signs that you may need to begin buying appliances for your rental property. 

 

HVAC System

The HVAC system is responsible for heating, ventilation, and air conditioning in your rental property. HVAC systems can last anywhere from 10 to 25 years, depending on factors such as proper maintenance, frequency of use, and the type of system. Signs that your HVAC system may need repair or replacement include unusual sounds, strange smells, and inconsistent temperatures throughout the rental.

 

  • Lifespan: 10-25 years 
  • Factors that affect lifespan: maintenance, frequency of use, and type of system
  • Signs you may need to replace the HVAC for your rental property: strange smells and inconsistent temperatures 

 

Water Heater

The water heater provides hot water to your guests for their daily needs, such as showering and washing dishes. The typical lifespan of a water heater is 8 to 12 years, although proper maintenance can extend its life. Signs that your water heater may need repair or replacement include a lack of hot water, unusual sounds, and water leaks.

 

  • Lifespan: 8 – 12 years 
  • Factors that affect lifespan: maintenance 
  • Signs you may need to replace the water heater  for your rental property: leaks or lack of hot water 

 

Refrigerator 

The typical lifespan of a refrigerator is 10 to 18 years. Many things can impact the lifespan of your refrigerator, such as quality of the appliance, frequency of use, maintenance, and power surges. Signs that your refrigerator may need repair or replacement include unusual sounds, difficulty starting, and inconsistent temperature or water flow.

 

  • Lifespan: 10-18 years 
  • Factors that affect lifespan: quality of appliance, frequency of use, maintenance 
  • Signs you may need to replace the water heater  for your rental property: unusual sounds, difficulty starting, and inconsistent temperatures or water flows. 

 

Stove 

 

The typical lifespan of a stove can vary depending on the type of stove, the frequency of use, and how well it is maintained. However, on average, a gas or electric stove can last anywhere from 10-15 years with proper maintenance and care.

 

If your stove is not heating properly, doesn’t light well, you notice rust or corrosion or worn out parts – these may all be signs you may need to begin thinking about buying a new stove for your investment property.

 

  • Lifespan: 10 – 15 years 
  • Factors that affect lifespan: frequency of use and how well its maintained 
  • Signs you may need to replace the water heater  for your rental property: uneven heating, difficulty lighting, rust, broken or worn out parts. 

 

Dishwasher

 

The lifespan of a dishwasher can vary depending on the type, brand, and model of the appliance, as well as how well it is maintained. On average, a dishwasher can last anywhere from 7 to 12 years with proper care and maintenance. Signs that you may need to replace your dishwasher are leaks, strange noises, and poor cleaning performance. 

 

  • Lifespan: 7 to 12 years 
  • Factors that affect lifespan: care and maintenance 
  • Signs you may need to replace the water heater  for your rental property: leaks, noise, and poor cleaning performance 

 

Washer and Dryer

Providing a washer and dryer for your guests is a convenient amenity that can help increase bookings. The typical lifespan of a washer and dryer is 10 to 14 years, but proper maintenance can extend their life. Signs that your washer and dryer may need repair or replacement include unusual sounds, a lack of function, and leaks.

  • Lifespan: 10 to 14 years 
  • Factors that affect lifespan: property maintenance 
  • Signs you may need to replace the water heater  for your rental property: lack of function and leaks 

 

Other Systems and Appliances

Other systems and appliances found in short-term rentals, such as smoke detectors and air purifiers, can vary in lifespan. Smoke detectors should be replaced every ten years, while air purifiers can last up to five years. Proper maintenance and regular testing can help ensure these items are functioning correctly.

 

Understanding the lifespan of the various systems and appliances in your short-term rental property is crucial for maintaining the comfort and safety of your guests. 

Regular maintenance and replacement of these items can help prevent unexpected breakdowns and keep your rental property in top condition, renting consistently with no unexpected downtime.

 We recommend consulting with professionals for maintenance and repairs to ensure the longevity of your property’s systems and appliances. Read more about how to keep your investment property in tip top shape here! 

3 Common Pests Found in East Tennessee Short Term Rentals and How to Prevent Them

Posted by Jason White on

As a short-term rental property owner in East Tennessee, it is important to prevent pest infestations. Pests not only damage your property, but they can also negatively impact your guests’ experience. In this blog post, we will explore how to prevent their infestations in short-term rental properties.

East Tennessee’s warm and humid climate provides an ideal environment for various pests to thrive, including flying insects. Some common insects found in short-term rentals in East Tennessee are:

  • Carpenter bees are a common pest found in East Tennessee homes. They look similar to bumblebees but can cause significant damage to wooden structures, including decks, fences, and outdoor furniture. 
  • Carpenter ants are another common pest found in East Tennessee homes. They can cause significant damage to wooden structures, including walls, floors, and furniture. 
  • Eastern subterranean termites are a common pest found in East Tennessee homes. They can cause significant damage to wooden structures, including walls, floors, and foundations. These termites live in the soil and feed on wood, so it’s important to maintain proper moisture control to prevent infestations. 

It’s important to address any pest infestations in your home promptly to prevent damage and avoid further costly repairs.

Regular cleaning, maintenance, and inspection practices are essential to prevent pest infestations in short-term rentals. 

Below are some tips to help keep insects away:

  • Seal entry points and install screens on doors and windows. Gaps and cracks in walls and doors allow insects to enter.
  • Close doors and windows when not in use to prevent insects from entering.

In addition to regular cleaning, maintenance, and inspection hiring a professional pest control service can help eliminate pests and prevent future infestations. 

Benefits of hiring professional pest control services are:

  • Experienced technicians who can identify and eliminate pests effectively.
  • Customized treatment plans to address your property’s specific pest problems.
  • Regular inspections to prevent future pest infestations.
  • Pest control companies may set up pest monitoring stations to detect any signs of pest activity before a full infestation occurs.

Pest control companies can help prevent future infestations and keep your property pest-free. It’s important to work with a reputable and experienced pest control company to ensure that they use safe and effective methods to prevent pest activity.

Preventing pest infestations in short-term rentals in East Tennessee is crucial to ensure the comfort and safety of your guests. By following the preventative measures discussed in this blog post and utilizing professional pest control services, you can keep your property pest-free. 



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

Posted by Jason White on

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:

 

  1. 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.
  2. 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 .
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.

  1. 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.
  2. 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:
  3. 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.
  4. Roof repairs: Roof leaks and other roofing issues can be expensive to repair if left unaddressed.
  5. 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.
  6. 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

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:

Sevier County

Sevierville 

Gatlinburg 

Pigeon Forge

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

The Road To Recovery

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.

RESIDENCES SOLD - GRAPH 1

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.

TOTAL RESIDENTIAL VOLUME - GRAPH 2

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.

AVERAGE SOLD PRICE - GRAPH 3

 

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.

AVAILABLE INVENTORY - GRAPH 4

 

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

real estate investment

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

The Road To Recovery

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.

DECEMBER 2013 RESIDENCES SOLD GRAPH

 

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.

DECEMBER 2013 TOTAL RESIDENTIAL VOLUME GRAPH

 

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.

DECEMBER 2013 AVERAGE SOLD PRICE GRAPH

 

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.

DECEMBER 2013 AVAILABLE INVENTORY GRAPH

 

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 >


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