U.S. Home Sales in February Show Mixed Results

In an earlier blog, I mentioned how late winter and early spring home sales are driven as much by weather as they are by economic conditions.  This theme is repeated as we examine final tallies in February Existing-Home Sales.   My source for this material comes out of the National Association of Realtors, in Washington, D.C.  The March 23rd news flash reports that overall existing-home sales declined slightly in February 2010.  The only regions of small gains were in the Northeast and Midwest.  Existing-home sales include; single family homes, townhouses, co-ops, and condominiums.  February’s figures slipped less than 1% off January’s 5.05 million figure.  The good news is that February 2010 is 7.0% higher than February 2009.  Lawrence Yun, NAR’s chief economist, feels that winter storms were the contributing factor for the lower sales.  People are unable to view property and close deals when forces of nature make travel, next to impossible.  Yun feels the market is currently still in recovery and could be fragile.  The chief economist expects that a wave of buyers will jump into the market to beat the April 30th deadline for the homebuyer tax credit.  This activity should drop home inventory levels enough, to stabilize home prices.

The article went on to review other data, but there was also good advice from Vicki Cox Golder, NAR President that could apply to some of my blog readers.  NAR’s President stressed that the April 30th, 2010 deadline is rapidly approaching for the end of tax credit.  With up to $8,000 at stake for qualifying buyers, there is no time to waste.  For most home buyers, the process from looking at homes to inking their signature on a contract takes several months.  This process can naturally be reduced in time duration if various pre-work is out of the way.  First, determine your maximum price limits.  Meet with your financial people and become pre-approved if a mortgage is needed.  Second, determine what type of property you need and what will best serve you some years from now.   Third, determine where in an area you need to be.  Do you require being close to a city’s ammenities or do you prefer to be out in nature away from it all?  Taking the time to sort out these details and requirements saves tons of time for you, and people you rely upon in your property acquisition process. 

Here, at the Jason White Team, we gear our website to assist you in this property decision process.  We make the East Tennessee real estate market only a series of keystrokes away.  We also simplify the refinement process by allowing you to set up a filter of your own parameters.  This only lets in properties that meet your specifications.  Contact us online or by phone (877) 678-2121 to get things started today!

Here are a Few of My Lastest Listings:

Take tram to Gatlinburg from this home!
Walk to Ober Gatlinburg Ski Resort or Community Pool. Updated, private and mountain views! Great investment property or personal home!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $159,900
Get more information >
Upscale Neighborhood-Authentic Log Cabin
This authentic log home is located in an upscale neighborhood and is in excellent condition. Bedroom/Bath on each floor for privacy as well as a large gameroom for your enjoyment.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $249,900
Get more information >
Fantastic Home on Private 4.72 Acres
Amazing home with fantastic floor plan and incredible quality. Office, mud room, bonus room that could be in-law quarters with lots of storage and full bath, playroom, theater room, 3 car heated garage, and lots of composite decking to enjoy the 4.72 acre
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $699,900
Get more information >

Call us today to view any of these homes! 877-678-2121  Ask for Jason White or Stephanie Huskey!

Smoky Mountain Homes and Cabins Sold Year-To-Date in 2009

A year-to-date comparison of Smoky Mountains homes and cabins sold in 2009 can help us get a feel for real estate trends in Gatlinburg and nearby areas. I try to keep past and future clients aware of market movement in Smoky Mountain real estate. This can assist people in making a decision on when to buy or sell their property. I crunched some data that was available to me thru our local Great Smoky Mountains Association of Realtors in compiling the following comparisons.

Our first review is for residential real estate sold in the Great Smoky Mountains area for the month of October 2009. October’s total number of residences sold was 123 compared to October 2008 with 111 units sold. October ’09 saw 12 more residences sold than October last year or a 12% increase.Quantity of Homes Sold 2008 vs 2009

 This October had total volume sold of $20,389,112 versus October ’08 at $23,222,284. October ’09 was $2,833,172 lower or 12% down in total volume.

Dollar Volume Sold 2008 vs 2009

 This October’s average sale per residence was $165,765 opposed to $209,210 in October 2008. The average residence sold was down $43,445 or 21% smaller than last October ’08.

Average Sale Price 2008 vs 2009

October ’09 active listings was 4,321 against 3,530 for October ’08. Active residential listings in October ’09 were 791 more or 22% higher than the same month in ’08.

Quantity of Active Homes 2008 vs 2009

Our second comparison is January 1st thru October 31st in these 4 parameters for 2009 vs. 2008. This year to date evaluation is often helpful. Number of residences sold in GSMAR YTD is 1,150 vs. total sold in 2008 for the same time frame of 1,242. 2009 has 92 fewer residences sold so far that 2008 or 7% less.

Quantity of Homes Sold Jan-Oct 2008 vs 2009

 Total dollar volume sold in 2009 YTD in the Great Smokies is $207,966,703 compared to $239,638,614 in 2008.  Total dollar volume in ’09, so far is $1,671,911 loss or lower by 13% than ’08.

Dollar Volume Sold Jan-Oct 2008 vs 2009

 The average sale for 2009 per residence is $180,841 vs. $192,946 per residence in ’08. The average price per residence sold is $12,105 less or 6% off from ’08.

Average Sale Price Jan-Oct 2008 vs 2009

 The active listings in ’09 YTD are 7,924 vs. 6,701 in ’08. There are 1,223 more active listings or 18% higher this year than last.

Quantity of Active Homes Jan-Oct 2008 vs 2009

This data gives us some possible current views on Smokies real estate.  Number of residences sold, overall dollar volume, and average dollar volume sold, are down from ’08.  Active listings are up which could be influences from the first-time-home-buyer tax credit. It seems that this stimulus is working, but first time buyers are focused on lower-priced homes. Other lower price influences could be from an inventory of foreclosure properties that impact the market with their fire-sale pricing. The increase in active listings could be from home owners seeking to move into an upgraded residence, but they need to sell their existing home first. In either case, buying or selling a home, there are opportunities now to do either. Mortgage rates are low and there is certainly a good inventory of new or older homes or cabins for sale in Gatlinburg or other parts of the Smoky Mountains, then contact the Jason White Team. Our web site can get you started on finding the Smoky Mountains real estate of your dreams. Click here to see our listings.

              Here are a Couple of My Latest Listings   

 

 

 

Updated with Mountain Views and Privacy
Enjoy the mountain view from your hot tub deck while watching the tram nearby. This private, updated, contemporary home is very close to downtown Gatlinburg and the Great Smoky Mountain Nat’l Park. This is a must see!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $169,900
Get more information >
Private with Beautiful Mountain View
Plenty of community ammenities, private, yet close to town. Enjoy nature and wildlife at this tastefully furnished log cabin from three covered decks, all with mountain views. Spacious for family gatherings, with two game rooms as well as a living room.
Type: Single Family Home
Location: Pigeon Forge
Price: $325,000
Get more information >

One of a Kind Gatlinburg TN Home For Sale

Gatlinburg TN Home For Sal
Gatlinburg TN Home For Sal

A completely refurbished home in 2008 that added an extra 3,000 square feet to the original structure is now available in Gatlinburg, Tennessee.

This one of a kind Gatlinburg TN home for sale was mainly used as a second home, but would be a fantastic income producing vacation home or residence.

Four levels of living and deck space, as well as five bedrooms and bathrooms, will give the future residents of this 4143 total square footage home plenty of room to see the tremendous views of Gatlinburg and the Great Smoky Mountains.

Interior details include a brand new chef’s kitchen, oak flooring, luxury baths, and a spacious recreation room.  Over $100,000 was spent to revamp the exterior details to include additional parking, landscaping and irrigation, and an amazing screened deck.

This unique piece of Gatlinburg TN real estate will not be on the market long.

For more information on this Gatlinburg TN family home or other Smoky Mountain real estate, please contact the local Smoky Mountain real estate agent, Jason White.

Summer Actvities in the Smoky Mountains

Summer Smoky Mountain Sunset (Photo courtesy of Lee Coursey on flickr.com)
Summer Smoky Mountain Sunset (Photo courtesy of Lee Coursey on flickr.com)

Now that we are in the middle of July, here are some great summer activities in the Smoky Mountains. 

When you are looking for something to do besides hiking, mountain biking, or fishing, go elk viewing.  Smoky Mountain elk are often spotted in the Cataloochee Valley and on Highway 321 between Gatlinburg and Cherokee NC. 

If an adventure is more of your thing, try white water rafting with your friends and family.  The rafting season begins the first week of March and no experience is necessary.  Look for local outfitters on the Upper and Lower Pigeon Rivers. 

If you are looking for local culture, there are always festivals going on in the Gatlinburg TN area.  Currently the 5th Annual Festival of Native Peoples & Cherokee Art Market is going on this weekend, but the Gatlinburg Craftsmen’s Fair will continue until July 26th.  The summer activities in the Smoky Mountains are sure to keep you and your friends and family busy. 

For more information on other Gatlinburg TN activities or Gatlinburg TN real estate, please contact the local Gatlinburg TN real estate agent, Jason White.

Gatlinburg Craftsmen’s Fair

Smoky Mountain Vista (courtesy of Marcy Reiford on flickr.com)
Smoky Mountain Vista (courtesy of Marcy Reiford on flickr.com)

Towards the end of July on the 17th through the 26, a great Gatlinburg TN community event will be hosted at the Gatlinburg Convention Center. 

The Gatlinburg Craftsmen’s Fair is the perfect occasion for art, craft, and music lovers to come together and enjoy over 200 booths featuring arts and crafts from around the nation.  The artisans and crafts people will be on hand in their booths to demo their skills, answer questions, and sell their wares. 

Don’t forget about the country and bluegrass afternoon music shows either! 

The Gatlinburg Craftsmen’s Fair will be open daily from 10am – 7pm and on Sundays from 10am – 5pm.  Adult admission is $6.00 and children 12 and under are free. 

Jason White, a Gatlinburg TN real estate agent, can tell prospective Gatlinburg TN real estate buyers more about other Gatlinburg TN community events. You may contact him at 877-678-2121 or by email.

Gatlinburg TN Home for Sale – 522 Otter Run

522 Otter Run, Gatlinburg TN
522 Otter Run, Gatlinburg TN

If you are looking for serene privacy and a low maintenance home to enjoy your next visit from family, then 520 Otter Run in Gatlinburg TN is the home for you.  

This unique, custom built home is in the exclusive gated estates of Norton Creek has all the quality and beauty you would expect from a Gatlinburg TN home for sale nestled into the Smoky Mountains. 

This new home features 4 bedrooms and 3.5 baths throughout its 3212 square foot layout.  Spectacular 180 degree mountain views highlight the daily sunrises, and the rushing trout stream will lull you asleep at night. 

This house is soundly built with maintenance free timber tech decking, a 50 year roof, Masonite siding,and custom oak flooring.  The attention to detail in this Gatlinburg TN home for sale is truly worth seeing. 

To set up a viewing of this house or other Gatlinburg TN properties for sale, please contact Jason White, a Gatlinburg TN real estate agent,  at 877-678-2121 or by email.

Move to Gatlinburg TN, Reason #2

No Tennessee Income Tax
No Tennessee Income Tax

Yet another reason to move to Gatlinburg TN is a statewide perk of living in Tennessee. 

There is no Tennessee state income tax. 

This means that you won’t pay any extra taxes on your income and you will only have to file one tax return in April each year. 

Since we are talking about taxes there are some exceptions to the Tennessee no income tax law and they can be found here

Jason White, a Gatlinburg real estate agent, can provide you with more information about other reasons to move to Gatlinburg TN and can show you some fantastic Gatlinburg TN real estate.

Move to Gatlinburg TN, Reason #1 Weather

Smoky Mountain Weather (chor lp on flickr.com)
Smoky Mountain Weather (chor lp on flickr.com)
The first reason you should move to Gatlinburg TN is the weather.  Gatlinburg TN sits in the Smoky Mountain altitude, so the summer heat and humidity here is much more tolerable than other parts of middle America. 
Most day’s temperatures don’t rise above 90 degrees, so you can actually be outside enjoying the beautiful surroundings instead of sitting in air conditioning 24/7. 
The winters are fairly mild with temperatures that regularly stay above freezing.  It does snow in Gatlinburg, but the amounts vary depending on your elevation. 
Jason White, a Gatlinburg TN real estate agent, can provide you with more reasons to move to Gatlinburg TN or talk to you further about the Gatlinburg TN weather.  Jason White can be contact at 877-678-2121 or by email.

Unique Attractions in Gatlinburg TN

Smoky Mountains (dmmercer on flickr.com)
Smoky Mountains (dmmercer on flickr.com)

Gatlinburg TN is a great place to escape from life and enjoy the scenery from your vacation home. 

However if you are looking for some unique attractions in Gatlinburg TN, look no further. One must see attraction is literally the scenery, but the best place to view it from is riding the Gatlinburg Sky Lift.  T

his lift will climb the side of Crockett Mountain and let you sit back and enjoy the ride. 

If eating is more of your thing, than go to the Pancake Pantry.  This pancake house has been around since 1960, and for good reason – because everything is made from scratch. 

For more information on other unique attractions in Gatlinburg TN or how you can be a permanent visitor by buying Gatlinburg TN real estate, please contact the local Gatlinburg TN real estate agent, Jason White.

Trillium Gap Trail near Gatlinburg TN Real Estate

Trillium Flowers (courtesy of ER Post on Flickr.com)
Trillium Flowers (courtesy of ER Post on Flickr.com)

Another great benefit of owning Gatlinburg TN real estate is the great East Tennessee hiking trails in the area. 

One such hiking trail, called the Trillium Gap Trail,  has easy access from downtown Gatlinburg TN. 

This Gatlinburg trail runs through old growth hemlock forest and behind the 25 foot Grotto Falls, which is a great place to look for salamanders.  The Trillium Gap Trail is 3 miles round trip and is moderately difficult. 

This trail outside of Gatlinburg TN is especially great during the spring and summer months because the trillium flowers, for which the trail was named for, are on full display. 

For more information on the trails surrounding available Gatlinburg TN real estate, please contact the local Gatlinburg real estate agent, Jason White.