The Smoky Mountain Real Estate Market Is Taking Off In 2013

Posted by Gatlin on February 7, 2013

The Road To Recovery The first month of 2013 has started with positive numbers and great news. As we look at the statistical numbers we see a whirlwind of activity and gains toward improvement that are bigger than we have seen in quite some time. Let’s take a look.

In the category of Total Residences Sold we have started 2013 with an overall increase of 8%. January is typically a busy month in the area for real estate but we see a trend towards increased buyer activity from recent years.

Total Volume of real estate sold in the area was also up with an increase over the same period last year of over $1,000,000 or 8%.

Prices have actually remained nearly even with last year. The numbers show only a $707 difference in the Average Sold Price. This is very positive news for sellers.

Inventory of available homes has dropped by 10%. As buyers are more active and the above numbers improve we expect to see this number continue to decrease helping prices to remain even and start to rise.

As supply and demand continue to balance out we believe now is the time to consider a Smoky Mountain Purchase. Take a look at our website to view all of the available homes and get started on the road to making a great investment. We are here to help when the time is right for you.

Here Are A Few Of My Featured Listings:

87 Gently Rolling Acres Await 87 gently rolling mountain top acres with outstanding 270 degree uninterrupted panoramic views of the major peaks of the Great Smoky Mountains National Park including Mt. Cameror, Geyot, Webb, Greenbriar, and LeConte. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $1,750,000 Get more information >

Relax By The Water Waterfront living at its finest on 7.92 acres with 365′ fronting the Holston River in Grainger County! Offering a custom home featuring many updates, privacy, scenic views, wildlife, private boat ramp & more! Type: Single Family Home Location: Grainger County Price: $667,000 Get more information >

12 Acre Mountain Retreat 12 pristine acres bordering the Great Smoky Mountains National Park with direct view of downtown Gatlinburg and surrounding mountains. Cove Mountain Trail literally touches the property line. Type: Single Family Home Location: Chalet Village Price: $799,900 Get more information >

Expect Good Things For Real Estate In 2013

Posted by Gatlin on January 31, 2013

2012 closed out with definite signs of continued market improvement. Reports and trends are pointing to these gains continuing this year. January has started at a fast pace for the local real estate market and in recent weeks we have experienced multiple offer situations and bidding wars on homes. When we look at January’s statistics next week we expect to see an increase in activity.

New home construction is reported to have accelerated to its highest rate since 2008. As existing inventory continues to move we believe we will see new home construction continue to rise. Other reports show that repairing and remodeling of existing homes has picked up as more owners are preparing their homes for the market spurred on by positive signs of recovery.

The Joint Center For Housing Studies at Harvard University released a 32 page report on January 23rd relating to improvement of the housing industry. The report shows that in most metropolitan markets home prices have steadily risen with new home construction climbing by almost 30% in 2012 and existing home sales passing the four million mark for the first time since 2007. As momentum builds in the market it is expected that the remodeling and home improvement industry will get a boost as well. The report goes in to depth about how and why that industry will see a flurry of activity and how it relates to the current real estate market conditions. You may download a full copy at their website.

In another report released this month they go on to say that even after the housing crash, as the market begins its recovery the dream of home ownership is alive and well in America. In one survey by Pew Charitable Trusts 81% of those surveyed agreed that buying a home is the best long term investment in the United States. Using information from the National Housing Survey data from 2010-2012, Drew and Herbert found that of both owners and renters 94% of people between the ages of 18 and 44 anticipate buying a home in the future. While having the desire to own a home is different from actually purchasing, we believe that as prices are still low as long as favorable mortgage conditions remain we will see a large number of buyers entering the market this year.

There are still many opportunities to purchase a residence or investment in the Great Smoky Mountains. As conditions improve we are seeing increases in inventory as more owners are moving forward with delayed plans to sell. We believe prices will continue to rise and now is the time for buyers to take advantage of still available deals and for sellers to consider getting a to determine if now is the time to put their home on the market. We are happy to help with achieving your 2013 real estate goals. Spend some time at and let us know when you are ready to begin exploring all that the Smoky Mountain market has to offer.

Here Are A Few Of My Featured Listings:

Gone With The Wind Almost $22k in rental for the first 10 months of 2012!! If you have dreamed of having a luxury chalet on top of the mountain with sweeping views of the valley, city and mountains then you have to look at this one. Type: Single Family Home Location: Chalet Village Price: $299,900 Get more information >

Add Your Own Touches Here is your opportunity to create a mountain getaway with your own unique style and personality. High quality materials and construction are a great jumping off point to add your finishing touches. Type: Single Family Home Location: Sevierville,TN Price: $112,500 Get more information >

Amazing Views & Unique Features This charming home offers a spectacular view and some really unique features. The living room has soaring ceilings, warm wood flooring and a unique see through fireplace with the dining area on the other side. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $208,700 Get more information >

A Summary Of The 2012 Smoky Mountain Real Estate Market

Posted by Gatlin on January 3, 2013

We hope each of you had a great New Year! As we move in to 2013 we would like to look at the final statistical numbers for 2012 that the Great Smoky Mountain Association Of REALTORS has released. If we go all the way back to the statistics early in the year we know 2012 started with a whirlwind of activity and the trend continued all year. Let’s take a look.

In the category of Total Residences Sold we finished out 2012 with an overall increase of 12%. Buyers were very active throughout the year and took advantage of all time low mortgage rates.

In conjunction with the above category Total Volume of real estate sold in the area was also up with an increase over last year of over $11,000,000.

Prices were still down at the close of the year but have continued to show improvement. As supply continues to dwindle prices will keep pushing towards positive numbers.

The amount of time homes spent on the market showed a decrease of 2.5%. As market factors continue to stabilize we expect to see this number continue to improve.

We would also like to note that 2012 finished with only a 3% increase in inventory vs. 2011. This is an improvement from the 2011 vs. 2010 number which showed a 9% increase. If financing continues to stay at low rates, which we expect it to, inventory will continue to decrease resulting in a balancing of supply and demand in the Great Smoky Mountain region.

It’s a fresh new year and we expect 2013 to continue the upward trend for real estate. It may be the right time to consider an investment or second home purchase in the mountains. Take a look at what the market has to offer by visiting our . We are happy to help with making your Smoky Mountain real estate dream become a reality!

Here Are A Few Of My Featured Properties:

Old Time Charm On 6 Acres!! Charming vintage log cabin updated with modern conveniences but with old time charm sitting on 6 beautiful wooded acres. Type: Single Family Home Location: Pittman Center Price: $179,900 Get more information >

Beautiful Mountain Sunsets Incredible large diameter log construction creates a special, solid, and timeless appeal. Type: Single Family Home Location: Pigeon Forge Price: $450,000 Get more information >

Charming & Authentic Log Cabin Did $22,907 in rental income from April – December of 2011. Charming and authentic log cabin located in desirable Sky Harbor community between tourist centers of Gatlinburg and Pigeon Forge. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $169,900 Get more information >

Economists Continue To Report Good News For Real Estate

Posted by Gatlin on December 27, 2012

In a news release on December 20th the National Association of Realtors shows that market conditions continued to improve in November, with lowering inventory and rising prices. The article states that total existing home sales including single family homes, town-homes, condos and co-ops rose 5.9% in November which reflects a 14.5% increase from November of 2011. Lawrence Yun, NAR Chief Economist, said “Momentum continues to build in the housing market from growing jobs and a bursting out of household formation”. Let’s take a more in depth look at the breakdown of the numbers.

One of the big factors contributing to the market recovery is the lowered inventory of distressed homes on the market. Foreclosures and short sales only made up 22% of the sales in November, down from 24% the previous month and 29% in November of 2011. These properties were only showing average discounts of 16-20% from market value, a sign of increased demand. Yun said “The market share of distressed property sales will fall into the teens next year based on a diminishing number of seriously delinquent mortgages”. The current low interest rates and availability of programs to assist home owners will continue to contribute to the reduction of this type of home inventory.

Total housing inventory at the end of November represented a 4.8 month supply with sales at their current pace. This is the lowest supply the market has witnessed since September of 2005. We are also seeing time on the market decrease both nationally and locally with the national stats showing a 28.6% decrease from the same month last year.

As demand increases prices are expected to continue their steady rise. The national median price for existing homes was $180,600 last month. This is not only the ninth consecutive month of year over year gains but also represents a 10.1% increase in price from last November. The last time we were able to see price increases sustained for this many months in a row was from September of 2005 through May of 2006.

We believe that this positive trend will continue through the end of the year and in to 2013. Next week we will take a look at how 2012 finished out for the Smoky Mountain real estate market. The following months of January and February are traditionally a flurry of activity for our area when a large number of buyers visit to view homes. If you have been thinking of coming to explore the market give us a call or email, we are happy to schedule an appointment. If you have a home to sale, now may be the time to ask for a , you may find that now is the time to list.

Here Are A Few Of My Featured Homes:

Relax & Enjoy The View A true opportunity to own a relaxing and stress free home away from home in the mountains. This is a very attractive unit with stunning mountain views from it’s top floor location. Type: Condo Location: Chalet Village Price: $92,500 Get more information >

Custom Built Home On The River Custom built home on the Pigeon River with year around mountain views in one of Sevierville’s most sought after neighborhoods. Type: Single Family Home Location: Sevierville,TN Price: $349,000 Get more information >

Tucked Away Above It All What a great deal on a nice, clean & spacious mountain get away. Type: Single Family Home Location: Chalet Village Price: $112,000 Get more information

Moving In To Winter The Smoky Mountain Market Is Still Heating Up

Posted by Gatlin on November 8, 2012

It’s time to take our monthly look at the Smoky Mountain area real estate statistics. Following the trend we have witnessed in previous months the market is still showing good news. Once we take a look at our usual categories for 2012 we would also like to discuss changes in the year to date 2012 vs. 2011 statistics compared to the 2011 vs. 2010 trends. There we will find signs of improvement as well.

In our first category of Total Residences Sold Through October we stick with the same upward swing we saw in September with an 18% increase over the same period in 2011.

The Total Dollar Volume Sold reflects the above numbers with a 9% increase from last year. That equates to almost a fifteen million dollar increase in volume sold.

The Average Sold Price is down 8% but still shows a 1% increase from September. We have watched this category work its way towards positive numbers throughout the year.

The time homes for sale spend on the market also continues to improve with a 3% drop from the same period last year.

The market continues to improve and we feel the following data is also important to share:

*2012 vs. 2011 total volume is up 9% compared to 2011 vs. 2010 being down 11%

*2012 vs. 2011 number of homes sold is up 18% compared to 2011 vs. 2010 being down 8%

*We started 2012 with 13% more inventory than the previous year and through October there are only 4% more homes available on the market than the same period in 2011.

We expect the numbers to continue the upward swing and feel now is the time to start looking for your Smoky Mountain home. Inventory is decreasing and homes are spending less time on the market. As this continues prices will also continue to improve. Take a look at our website to for your next purchase.

Here Are A Few Of My Featured Listings:

Log Home On Over 3 Acres Charming farmstead Appalachian style log home on over 3 beautiful wooded acres of idyllic Smoky Mountain countryside. Enjoy ridge views along with lots of hardwoods, rhododendron, mountain laurel, hemlock and dogwoods throughout the four seasons. Type: Single Family Home Location: Pittman Center Price: $159,900 Get more information >

Money To Be Made!!! Income potential with consistent rental history. $25,737 in 2009, $26,127 in 2010 & $20,352 in 2011. Don’t miss out on all these features! Type: Single Family Home Location: Chalet Village Price: $169,900 Get more information >

Great Price For Views Like This Spectacular views and luxury abound in this perfect vacation cabin high above Gatlinburg. Won’t last long with views like this! Type: Single Family Home Location: Chalet Village Price: $169,900 Get more information >

Foreclosures Hit A Five Year Low

Posted by Gatlin on October 18, 2012

Throughout this year we have watched the signs of a market recovery begin to happen. The Federal Reserve has pushed mortgage rates to all time lows, buyers are active in the market, homes are selling faster and prices are beginning to stabilize. In a report released last Thursday by Realty Trac we see even more good news. The online foreclosure website reports that foreclosure filings were more than 16% down from last year. That is a large percentage and can have a huge impact on the market. Numerous factors have contributed to the improvement. Many of the programs and new guidelines that the government and the banks have put in to play to assist homeowners are getting firmly rooted. Many banks are aggressively working to get short sales approved and to assist owners with refinancing at these new lower rates when possible. The government’s Home Affordable Modification Program has helped more than a million borrowers obtain more affordable mortgages allowing them to avoid a foreclosure situation according to an article on CNN Money.

As the pace of foreclosure filings slows down it will begin to be harder to find deeply discounted deals on the market. This will push the market more towards stability as prices are forced to level out. Barclays Capital recently reported that home prices could be back to peak levels as soon as 2015. Rick Palacios, senior analyst with John Burns Real Estate Consulting said “We think the recovery is for real this time around. If you look across the U.S. economy right now, there are only a handful of industries looking at 20-30% growth over the next 4-5 years and housing is one of those.”

The housing market deeply touches the overall economy and we believe an improving market will help the entire economy to improve. Roger Altman, chairman of Evercore Partners and former Deputy Treasury Secretary, said in an article for Financial Times “That turn in the housing market is occurring now and it should become a boom by 2015. It will be powerful enough to lift the entire U.S. economy.” Altman expects housing to add 4 million jobs to the economy over the next five years.

Though we are all excited to see the market improve it does mean that the days of hugely discounted properties are coming to their end. There are still plenty of very well priced homes available on the market and now is the time to if you are thinking of an investment or second home purchase in the Smoky Mountains to take advantage of still low prices.

Here Are A Few Of My Featured Listings:

Enjoy Views Of Mt. LeConte Over $25,000 rental income so far in 2012! The scenic setting with views of Mt. LeConte along with lots of native flowering shrubs and dogwoods make this a peaceful place to spend time. Type: Single Family Home Location: Chalet Village Price: $219,900 Get more information >

View City Lights Against The Mountains Absolutely amazing views of downtown Gatlinburg and the Great Smoky Mountains National Park. Incredible close up night lights view, you can actually see people on the sidewalks with a dramatic mountain backdrop. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $339,900 Get more information >

Close Up City & Mountain Views Over $40,000 rental income for 2010 & 2011! This is designed to be a year around home or an income producing rental. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $439,900 Get more information >

Navigating The Changes In The Real Estate Market

Posted by Gatlin on September 27, 2012

In an article dated September 12th, CNN Money reported that several markets are seeing up to a 24% drop in available inventory and multiple offer situations becoming a regular occurrence. Throughout the year the statistics have shown that the Sevier County market continues to improve with more homes sold and total days spent on the market decreasing almost monthly from last year. There are still plenty of great buys to be had in the Smoky Mountains but with an ever improving market and a faster pace than has been seen in recent times it is more important than ever to be prepared when you are ready to start looking for a home. There are several things to consider before entering the market, let’s take a look at a few.

We cannot stress enough how important it is to start the financing process before you start looking. With a fast paced market, having a pre-approval letter in hand when you make an offer will give you numerous advantages. The more information you are able to provide to your lender ahead of time the better as it will give the seller confidence in your offer and potentially allow you a faster closing date. A seller is not always looking for the highest offer but sometimes the one that has the least amount of contingencies. As lending guidelines remain strict many offers are taking 45-60 days to close and being ahead of the game will put you ahead of any competition for the house. For more information about getting pre-approved please visit this .

Another consideration is researching the area and familiarizing yourself with locations that you would enjoy. Part of narrowing this down will include knowing what your goal for the use of the property is going to be. Are you looking for a get-away that only you will use or an investment that will be used as an overnight rental to help offset the costs of ownership? If it is going to be used as a rental, talk with some different rental management companies and see whom you may be comfortable with using after the closing. We work closely with the management companies in the area and are happy to assist in finding a good fit.

Knowing ahead of time what items are “must haves” and what items you are negotiable on in your future purchase will help when it is time to decide on the property you wish to make an offer on. Having this information in hand when viewing properties will help you avoid allowing time for another buyer to come along and create a multiple offer situation. Remember, if you are in a house and rating it as an 8, 9 or 10 someone else is likely to feel the same way. If you are concerned about not finding your ‘perfect’ home you may enjoy the article It offers strategies for streamlining the decision process.

As the market continues to improve and mortgage rates remain at all time lows, now is the time to prepare for your potential purchase. Having the details in line ahead of time will put you one step closer to turning your Smoky Mountain dreams into a reality. We are available and happy to assist you with any of these steps and when you find the right home we will work to provide you with market data for similar homes and to make sure that your purchase and closing process move full speed ahead. Spending some time will allow you to start on that “must have” list. Next week we will take a look at the market statistics for September and see how much the Smoky Mountain real estate market has continued to change.

Here Are A Few Of My Featured Listings:

Exquisite Smoky Mountain Views Over $60,000 in rental income for 2010, 2011 and already in 2012!! Well crafted three level chalet resting atop 1.35 private acres with views of the Great Smoky Mountains. Type: Single Family Home Location: Chalet Village Price: $497,000 Get more information >

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

Smoky Mountain Real Estate Continues To Gain Ground In July

Posted by Gatlin on August 2, 2012

The year has been positive so far for the Smoky Mountain real estate market. Looking at the market statistics through July we see continued improvement in most categories for single family homes in Sevier County with some areas showing huge gains over last year. Buyers are very active and properties are moving. Let’s see what the numbers have to tell us.

The category of Total Residences Sold shows that buyer activity remains strong with a 15% increase from 2011.

Total Dollar Volume Sold goes hand in hand with the last category and reports $5,203,117 more real estate sold than last year. We are also seeing homes in higher price ranges selling this year which will continue to push the increases in volume.

The Average Sold Price still lags behind 2011 but continues to improve every month. With the balancing of inventory occurring as distressed sales leave the market and homes in higher price ranges are selling we believe this category will continue moving towards being stabilized.

The Average Days On Market lets us know that sellers are ready to sell and buyers are ready, willing and able. From last year homes are spending 6% less time on the market and the number has shown gains from 2011 each month.

The Smoky Mountain region is a hive of real estate activity and opportunities. If you have been dreaming of owning a home near the National Park now is a great time to take a look at the and find your perfect get away. Our team is ready to help you every step of the way.

Here Are A Few Of My New Listings:

Fantastic Rental Income!! Fantastic rental income! Produced over $26,000 in rental income in both 2010 & 2011! Lots of features you want in a Smoky Mountin retreat. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $185,000 Get more information >

Quality Features & Mountain Views If you are looking for your own home away from home you must see this quality three bedroom. Fantastic Smoky Mountain Views, attached garage, workshop & much more. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $349,900 Get more information >

Great Price On A Gatlinburg Home Cute vintage chalet practically walking distance to Gatlinburg. Always used as a second home and perfectly suited for a weekend family get-away. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $89,900 Get more information >

Continued Improvement For The Smoky Mountain Real Estate Market

Posted by Gatlin on July 5, 2012

Nationally the real estate market is improving and the statistics for single family homes in Sevier County show that the Smoky Mountain region is no exception. The numbers show strong improvement over last year in most categories for the first half of the year, let’s take a look.

June’s numbers keep 2012 ahead of last year in the category of Total Residences Sold. With a difference of 21% or 111 more homes sold than the same period last year we see that buyer activity continues to be strong.

In the Total Dollar Volume Sold category 2012 outperforms 2011 with a 7% increase. This is just under seven million dollars more real estate sold than in the first half of 2011.

The Average Sold Price is still behind 2011 but shows improvement from last month. Through June the average price is down 11%, last month it was a 14% decrease from 2011. The number of foreclosures that are being sold and leaving the market continues to help with improving this number.

In the last category of Average Days On Market we see signs that buyers are in the market and ready, willing and able to buy. With a 7% decrease in time on the market there is no doubt that the Smoky Mountain real estate market is active.

The market is changing for the positive at a steady pace and we believe this trend will continue. Considering the purchase of a Smoky Mountain home? This is the time to take advantage of current mortgage affordability and the wide variety of available homes for sale. Spend some time browsing to see everything the area has to offer. When the time is right we are ready to assist you on your path to owning a mountain home.

Here Are A Few Of My Featured Listings:

Private Chalet Minutes To Downtown Produced $23,207 rental income for 2010 & right at $20,000 for 2011! Great location only a mile from the 441 Parkway and about 1.5 miles to downtown Gatlinburg. Type: Single Family Home Location: Chalet Village Price: $189,900 Get more information >

Two Acre Mountain Retreat Charming log cabin on a private two acres. Type: Single Family Home Location: Pigeon Forge Price: $189,900 Get more information >

Great Home Or Home Away From Home Custom built home in desirable Norton Creek. It is in such good condition, you’ll think it was just finished. Thoughtful design for year around low maintenance make it suitable for retirement, second home use or as a family home. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $269,900 Get more information >

Expect Strong Improvement For The Real Estate Market In 2012

Posted by Gatlin on June 21, 2012

When we looked at the Smoky Mountain market statistics for January through May of 2012 it was noted that homes are selling faster, sales volume is up but prices are still down by 14% from last year. We believe that this is directly related to the still existing inventory of distressed homes that are lingering on the market. Distressed homes affect not only the market but families, communities and the overall economy. It is positive news that both lenders and government have been working through several new options and getting more aggressive in their attempts to liquidate inventory and prevent more from coming to the market. The National Association of REALTORS believes that increasing access to affordable loans and committing more resources to loan modifications and short sales is the key to calming the situation.

As we move through the year we expect to see the average sales price move more and more towards stronger numbers. Buyers are actively involved in the market and mortgage rates are at all time lows. The pieces are falling in place for a market recovery and every month we see more positive news both locally and nationally. The National Association of REALTORS reports that although the last four years in home sales have been essentially flat they forecast a solid increase of around 400,000 more homes sold in 2012. Nationally all major home price trackers are showing a trend of rising home prices in many areas. Harvard University’s Joint Center for Housing Studies released it’s Annual State of The Nation’s Housing report for 2012. The report points to increasingly strong market fundamentals and says home sales could see serious improvement this year.

Slower job growth, the above mentioned distressed properties and the slow pace that young people are moving in to their own homes are a few things hanging over the recovery but things are moving in the right direction. With rentals getting pricier and mortgage affordability at an all time high, demand continues to increase. The report from Harvard includes a detailed graph showing how much more affordable mortgage payments have become compared to rental rates. We expect to see many more first time buyers entering the market as the year progresses.

With the flurry of activity in the market now could be a great time to consider putting a home on the market as buyer exposure is continuing to increase. Wondering how much the market may have changed this year? We are happy to prepare a for you to give you an idea of what buyers are currently paying for homes similar to yours.

Thinking of buying a mountain home? With plenty of properties at great prices still to be found in the Smoky Mountain region and mortgage rates so low, now is the time to enter the market. We are happy to assist you with getting pre-approved, finding the right home and assisting with your path to home ownership. Why not take a look at all that is available at our ?

Here Are A Few Of My Featured Listings:

Like Brand New
The effective year built on this cabin is basically 2009. A very impressive top to bottom remodel has totally transformed it into one the nicest and most up to date you’ll find.
Type: Single Family Home
Location: Chalet Village
Price: $488,000
Get more information >

Custom Built Home On The River
Custom built home on the Pigeon River with year around mountain views in one of Sevierville’s most sought after neighborhoods.
Type: Single Family Home
Location: Sevierville,TN
Price: $389,700
Get more information >

Secluded & Private Country Home
Over $30k rental income in both 2010 & 2011! This secluded & private country home is located in the heart of the Arts & Crafts community.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $289,900
Get more information >

Tag: Existing Home Sales