The National Association of Realtors data showed Smoky Mountains homes and existing-home sales across the nation continued their improvement in April 2010. For real estate market observers, these results were totally expected. April was the last month for buyers to sign a contract on a home to qualify for the federal homebuyer tax credit. Sales of existing-homes include; single family houses, townhomes, condo’s, and co-ops. This market analysis measures homes under contract, yet not officially closed. These transactions normally close within 1-2 months. April 2010 figures were 7.6% above March 2010 and were 22.8% above April of 2009. Chief economist, Lawrence Yun, expects some decline in sales, as the tax credit ends. However, he sees a growing buyer confidence returning to the U.S. home buying market. He feels that overall economic improvement, home buyer confidence, and home price stabilization will assist the home market in regaining it’s momentum.
NAR President, Vicki Cox Golder shares some additional observations on today’s housing market. She sees many buyers are still remaining in the market, searching for just the right home. Affordability conditions are good and Freddie Mac reports rates are still low at 5.10% on a 30 year fixed loan. Total housing inventory rose slightly in April by 0.3%, but it is 11.6% below the record set in July of 2008. The NAR President, sees buyers shifting into a “buy and stay mode”. This may be too early to view the change, but the “buy and flip” mentality may be slowly disappearing. April data shows 49% of homes were purchased by first-time homebuyers. This was up 5% from March. The national median priced home for April 2010 was $173,400. This is a 4.5% increase over the previous year. Single family median prices rose in 18 out of 20 metropolitan statistical areas across the country, with 6 of these seeing double digit increases. The Northeast led the nation in the number of existing -home sales as well as in the highest median-priced home. Here in the South, existing home sales figures were close to being in the middle of the statistical results. The Southern median price for an existing-home is $150,000 just above the Midwest at $146,400. This makes our area quite attractive for home buyers looking for value on their purchase.
All of these current trends and statistical results indicate that our real estate market is favorable for property investment. If buying a house or property in the East Tennessee Smokies is a priority, check us out today! The Jason White Team has a website geared to begin a buyer’s search for property. We have made it so user-friendly, that some may find their dream real estate totally online. We offer all the resources and expertise to turn your dream into a reality. Call us today to get started! 877-678-2121
Here are a Few of My Current Listings:
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Sits on Beautiful Pigeon River!! Located on the state’s most pristine river this is truly a one-of-a-kind property. Listen to the sounds of the river on this 2.8 ac in upscale subdivision of Riversong. This home offers a gourmet kitchen, huge game room and even a playroom for the kids. Type: Single Family Home Location: Pittman Center Price: $1,195,000 Get more information > |
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Easy Access and Great for Large Groups Three level chalet with big rooms and cathedral ceilings to accomodate that large group or family reunion. Bring the mountain views and outdoors in with all the glass windows. Fun awaits you with a gameroom and 3 levels of decks with hot tub. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $259,900 Get more information > |
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Short Sale’ Great Location!! This conveniently located home is within walking distance of Community Center, Mills Park, schools, and Gatlinburg shopping and dining. Lovely wooded setting and nice furnishings. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $179,900 Get more information > |
Call today to view these or any other properties!! 877-678-2121 Ask for myself or Buyer Specialist, Stephanie Huskey!