As we head towards the end of 2014, and look ahead to 2015, there are five noteworthy trends to watch for the national real estate market, according to the National Association of Realtors (NAR), which looks ahead to see what potential sellers and buyers can possibly expect for the coming year in terms of the national real estate market.
The first of these national trends focus on an expected modest rise in average mortgage rates for the coming year, ranging from an average of 4.6%, and then inching up towards 5% by the end of 2015, according Freddie Mae’s latest projections, indicating a likely rise in mortgage rates nationally, even though these rates will still largely remain at historically low levels on average. The second of these trends shows that the ongoing gradual increase of home prices will slow a bit, but still increase by 3% in terms of average home appreciation. According to Freddie Mae’s economists, while home prices will slow their ongoing rise, home affordability, at least historically speaking, will remain high on average. The third main trend to watch in the coming year is the projected increase in homebuilding, with this expected to rise nearly 20% in 2015, which may help total home sales increase by 5%, reaching the best sales pace in 8 years. Two additional trends focus on a likely projected decrease of 8% in single-family mortgage originations, although there will be a projected 14% increase in multi-family mortgage originations. Lastly, a broader trend expected is that the U.S. economy as a whole is poised to sustain a growth rate of 3% in 2015, which would be the 2nd year in the past decade with a growth rate at such a pace or better, according to Frank Nothaft, the chief economist for Freddie Mae. On the whole, these trends show a continued gradual growth in the national real estate market, as well as a continued gradual recovery in the housing market for 2015. For more on this very insightful article from the National Association of Realtors, please click on this link to find out more today!
As we look to the coming year, with mortgage rates nationally still expected to remain at historically low levels, along with home prices remaining historically high on average, there are many great real estate opportunities available for buyers and sellers alike, both now, and heading into 2015, especially here in the Great Smoky Mountains! Now is a great time to take advantage – why not see what the Smokies can do for you today? Please feel free to browse our Featured Properties, and see what The Jason White Team can do for and your real estate dreams today!
This Week’s Featured Properties:
Picturesque, 2 BD/2 Full BA & 2 Half BA, Victorian-Style Chalet Only Mins. to Gatlinburg! Made near or above $20K in rental income in each of the last 3 yrs.; has enormous rental potential! Each BD in this home has its own in-room W/P & Priv. Bath, along with including a Large Lower Level Great Room, a formal Dining Room, & much more. Has amazing views of both Mt. LeConte & the Smokies, & is only mins. to dwtn. Gatlinburg, the Nat’l Park, & the many area attractions. A very uniquely designed home & a great location – come see it for yourself today! Type: Single-Family Home Location: Gatlinburg, TN Price: $269,000 For more information >
Private, 2 BD/2 BA Bungalow-Style Mountain Chalet Only Mins. to Gatlinburg! Made nearly $12K in rental income in 2013; has enormous rental potential, or can be a wonderful permanent or 2nd home! Each BD has own Priv. BA, closet, in-room W/P, & deck access, w/a sauna rm in Master BD. Incl. Massive Great Rm, level parking, & great seasonal, winter mtn. views. Has addt’l 1/2 acre across the street; can be used as a detached garage. Only mins. from Gatlinburg, the Nat’l Park, & Pigeon Forge. A well-decorated, spacious home at a great value! Type: Single-Family Home Location: Gatlinburg, TN Price: $199,900 For more information >
Beautiful, Cottage-Style, 1 BD/1.5 BA Chalet Only Mins. to Gatlinburg! Great as a permanent or 2nd home, or as an overnight rental! Enjoy mtn. living in this comfortable, cottage-style home; includes a spacious Great Rm on the Main Level, an even Larger Master Suite BD on the 2nd level (incl. in-room W/P, Private BA, & a screened-in deck area w/hot tub), a flowing mtn. stream in the front of the property, & much more! Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions; a great cottage-style home w/great potential! Type: Single-Family Home Location: Gatlinburg, TN Price: $149,900 For more information >
The Jason White Team
Century 21 Four Seasons Realty, Inc.
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227