Are you a First Time Buyer Looking at a Gatlinburg Home for Sale?

Posted by Gatlin on
Gatlinburg City Night Lights

Gatlinburg homes, like others across the nation, offer challenges to a first time home buyer.  Today’s blog explores five mistakes that novice home buyers commonly make. The source for our material came from the National Association of Realtors.  As the key trade association for real estate in the U.S., much research is conducted to advise our membership.  This material helps agents assist buyers and sellers in the potentially complex transactions of real estate exchange.  

Mistake number one is the novice buyer fails to ask enough questions of their lender.  This can lead to missing a great deal on a home.  Especially in our current home market, getting pre-qualified is crucial.  Today there is a fast pace driven by foreclosures and short sales.  Knowing what amount and whether you qualify in this tighter credit market is key.  First-time mistake number two is failing to make a quick decision.  This allows someone else to buy your house.  As previously noted, speed is the quintessential element in discount priced property.  Mistake number three is not finding the right agent.  New buyers need a representative who is patient and relates well to them.  Home buying is a huge commitment and it is critical to have a trustworthy ally on your side.  This takes much of the first time stress and fear out of the process.  The fourth common mistake is first time buyers do not make their offer look appealing to a seller.  The best deals offer a win/win for both parties.  There are often extra items that can sweeten a deal for the seller.  Often something like more time or flexibility on some aspect of the negotiation would not cost the buyer, but it could seal the deal.  The last of the five common mistakes is failing to think about resale before purchasing a home.  The U.S. average is four years living in a first time home purchase.  What might be a deal today, could become tomorrow’s nightmare, if the new home is not easily resold.  Nobody wants to tie up their capital in a home that is not easy to resell.  

Avoiding these five mistakes are important even for experienced home buyers.  The Jason White Team gears our website, and the experience of our people to help our buyers avoid these 5 potentially expensive mistakes.  We encourage buyers to work with lenders in advance.  With pre-approval you can act with confidence when a deal appears.  Also, setting up your personal search criteria on our website, allows you to focus on only those properties that match what you want. We can also send you listings daily or weekly that match your needs.  Contact us online or by phone 877-678-2121 and begin today. 

Here are a Few of My Latest and Current Listings: 

Foreclosure/ Furnished!
Foreclosure with ample parking. This property is generating a strong rental income in 2009 of $46,503! Massive open floor plan with cathedral ceilings. Features include movie projector,bar w/fridge,hardwood floors,gourmet kitchen and much more.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $329,900
Get more information >
Premier View of Smoky Mountains!
Condo with sought after mountain views and 3 bedroom plan. Indoor and outdoor pools, hot tubs and saunas and really close to the Great Smoky Mountain Nat’l Park and ski resort.
Type: Condo
Location: Gatlinburg, Tennessee
Price: $109,900
Get more information >
Updated with Private Bedroom Suites!
Want a great investment property? Then this is it! Already on a rental program and has a great rental history. Recently updated, offers private bedroom suites, and has a sky walk to balcony and mountain views.
Type: Single Family Home
Location: Chalet Village
Price: $249,900
Get more information >

Homes in Gatlinburg and Across the Nation See Mixed Results in July 2010

Posted by Gatlin on

Smoky Mountain real estate follows general property trends like much of the nation.  The July 2010 numbers from the National Association of Realtors in Washington, D.C. reveal some interesting results.  July 2010 figures for existing-home sales were substantially lower by 27.2% from June of 2010 and were off 25.5% compared to July of 2009.  The July 2010 3.83 million units sold is at a level equal to 1999, when existing home sales records began.  Existing home sales represents finalized transactions on; single family homes, townhouses, condominiums and co-ops.  Single family homes have typically made up a majority of the existing-home sales.  However, single family house sales are at lower levels not seen since May of 1995. 

Lawrence Yun, NAR’s chief economist, had predicted this soft period in existing home sales.  He expected the rush for the home buyer tax credit, that ended in April, would create this lull .  The Chief Economist expects the soft pace in existing home sales is probably going to continue through September of this year.  Yun is optimistic that housing affordability, combined with very low mortgage interest rates, could boost home sales later on.  The real key in a healthy housing market remains with the creation of jobs throughout our economy.  If serious job creation occurs, the existing-homes sales will increase.

However, there is encouraging news in single-family existing home prices.  The median price for a single-family home was $183,400 in July 2010.  This median price was up 0.9% from a year ago.  Across the county 11 out of 19 metropolitan statistical areas saw increases in home prices.  This price increase occurred even when the overall sales figures were declining.  If you are interested in buying or selling property in the Smokies, the Jason White Team can help.  As a buyer, you can start your search online.  Our website allows you to set parameters specific to your personal search.  Begin now to find that ideal property and utilize some very low mortgage rates.

Here are a Couple of My Latest Listings:

Fantastic Mountain View & One Level!
Want one level living and great mountain views? This home is for you! Private, level ground with yard and southern exposure not to mention the shady covered front porch and sunny open deck with hot tub.
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $179,900
Get more information >
Premier View of Smoky Mountains!
Condo with sought after mountain views and 3 bedroom plan. Indoor and outdoor pools, hot tubs and saunas and really close to the Great Smoky Mountain Nat’l Park and ski resort.
Type: Condo
Location: Gatlinburg, Tennessee
Price: $115,000
Get more information >

NAR Reveals Gatlinburg Homes For Sale and Across the Country Surged in April 2010

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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:

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 >
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 >
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!

Never Underestimate Mother Nature

Posted by Gatlin on

The U.S. real estate market in recent months has closely tracked our country’s weather patterns.  An exceptionally cold winter with ample precipitation tends to discourage leaving a warm house.  The past winter was a classic example of how humanity is still at the mercy of the forces of nature.  The federal government in Washington DC even shut down as some tenacious “Northeasters” dumped heavy snow on the nation’s capital.  All this cold weather and precipitation ranging from; flooding, monsoon-style rains, to freezing varieties like record snow fall has gripped most of our nation, off and on for the past several months.  The consequence of these challenging weather patterns has been a slow down in shopping for real estate.  The extreme weather has impacted recent trends in the Homebuilder Sentiment Index for March.  Even my realty news sources at the National Association of Realtors echo this same idea.  

NAR’s chief economist, Lawrence Yun addresses the issue of an abnormally severe and pro-longed winter on real estate shopping across the U.S. in his March 4th, 2010 report.  Yun explains that abnormal activity must be anticipated in all markets. However, the real estate arena still has pent-up demand from buyers looking to utilize the homebuyer tax credit.  With the weather improving, buyers are expected to use the tax stimulus and the first half of 2010 should be strong. 

Here in the Smokies, my team and I are seeing a growing number of buyers coming to look for property.  Old man winter is slowly releasing his icy grip on the weather.  Each weekend seems to build with additional people coming into the area.  Spring bulbs are popping up everywhere and in warm locations the daffodils are starting their bloom.  It will be a little bit before the trees flower, but it is coming.  If you are thinking about buying property in the Smokies in 2010, contact us on the web or by phone- 865-436-2121. We want to give each client the time they need and weekends sometimes can get busy.  Help us pre-plan for your arrival.  There are many ways to facilitate this process; you can pre-screen properties on our website and meet with your lenders to become pre-approved for financing. Our website allows you to create a screening filter set from your own personal wants and needs in selecting a property.  Contact us at the Jason White Team to get started today on finding your property in the Great Smoky Mountains.

Here are a Couple of My Latest Listings:

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 >
Fantastic Views of Mt LeConte!!
Enjoy the fantastic views of Mt LeConte and the tram from the spacious decking of this nicely decorated cabin. Each bedroom has in suite baths as well. This is a must see!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $249,900
Get more information >

Pending Home Sales Slows, But Remains Above 2008 Levels

Posted by Gatlin on
My blog readers may recall this expected market action from earlier news reports out of the National Association of Realtors in Washington, D.C., NAR chief economist, Lawrence Yun reaffirmed that the drop in the Pending Home Sales Index was anticipated. Home buyers scrambling to beat the initial deadline for the tax credit caused a wave of activity that crested with the origional deadline for the tax credit. Many analysts at the NAR predicted that the rise in the PHSI would halt as the old tax credit ended and its’ new expanded replacement builds momentum. Yun is optimistic that another surge of new home buyers will enter the market this spring. Although Pending Home Sales backed off its streak of consecutive increases, the Index remains above last year’s levels. NAR’s chief economist thinks the U.S. home market is building momentum on its own, but expects another 900,000 first-time home buyers to utilize the extended tax credit along with 1.5 million repeat buyers. Yun feels that low mortgage rates and increases in job growth will help the real estate market. Excess housing inventory will continue to decrease. All this should help in stabilizing home prices in 2010.
                                                   Pending Home Sales Index

The Pending Home Sales Index fell in all 4 regions of the country. Home sales in the West fell the least. Next in line is in the South, where the Index fell 15.0% to a reading of 97.8, but stayed 14.7% above 2008’s levels. An index level of 100 is equal to the average level of contract activity on homes in 2001. This was the first year the index was used.

If you are considering a real estate purchase in the Smokies, now is a great time. Mortgage interest rates are at historically low levels and will probably increase. Inventory of properties for sale is up, so selection is good. The tax credit is in effect through April 30th and it could put $6,500-$8,000 in your pocket, if you qualify. So if you are seriously thinking about buying or selling  Smokies real estate in 2010, contact the Jason White Team. Our expertise and knowledge of the area has made us a leader in helping people buy or sell property in the Great Smoky Mountains. Contact us online or by phone to get started today.

                      Here are a Couple of My Latest Listings:

Incredible Smoky Mountain/Valley Views!
This home is truly Above and Beyond. Even has an elevator! The mountain and valley views are worth viewing this home! Incredible log details throughout.
Type: Single Family Home
Location: Wears Valley
Price: $699,900
Get more information >
Lots of Windows to Enjoy Mountain View!
Beautiful views from this contemporary home. Lots of windows bring the outside in. If you need storage this home is for you with plenty of closet space and even a separate living space in the lower level with it’s own entrance. Great in-law quarter!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $135,000
Get more information >

Pending Home Sales Sets a New Record at Eight Consecutive Monthly Rises

Posted by Gatlin on

News out of my sources at the National Association of Realtors in Washington, DC, report good data for September 2009. Blog and newsletter readers are familiar with the Pending Home Sales Index. The PHS index is a key measurement used to gauge strength in the U.S. housing market. Home sales are “pending” when a sales contract is signed, but the transaction is not officially closed. Typically a home officially closes in 1-2 months of signing.The Pending H.S. Index takes a large U.S. sample usually 20% of existing home sales, and it evaluates sales in 4 regions. An index reading of 100 equals the average level of contract activity that occured in 2001. This was the first year the index was implemented and it was the first of five consecutive years of record sales in existing homes. Use of the “Index” shows trends more accurately looking back 1 year than in a month to month comparison.

The September 2009 Index reading rose 6.1% to 110.1 vs. the August 2009 reading of 103.8. The September ’09 reading is 21.2% above September 2008 which measured 90.9. The gain over 2008 is the largest annual increase on record and the index is at the highest reading since December 2006 when it registered 112.8. Lawrence Yun, NAR Chief Economist feels that current index levels are meaningful. He feels first time home buyers were racing to beat the expiration of the homebuyer tax credit. The credit has recently been extended, but this government stimulus has created a home buying momentum that may assist in stabilizing home prices across the country. Home price stabilization will help the American middle class and aid in a lasting economic recovery. In a look at Pendng Home Sales Index figures across the nation, the Northeast dropped 2.0% to 83.6 in September ’09, but it is 16.9% above September ’08. The Midwest Index increased 8.1% to 98.2 and is 17.8% over September 2008. The South Index is up 4.9% to an index reading of 109.7, this is 22.8% above September ’08. The West index is up 10.2% to 143.8 and is 23.7% above September of last year.

Pending Home Sales Index

NAR’s Yun urges some caution. He feels the market shows good indicators of improvement. However, there is still an over abundance of home inventory on the market and there are lower home price forces coming from an ongoing stream of foreclosures impacting the home market. The history of all investing requires taking on some risk and it is rare to time a top or bottom in any market. Today’s property market has adequate inventory to choose from and mortgage rates are still reasonable. If you are interested in homes for sale in Gatlinburg or other parts of the Great Smoky Mountains, then contact one of the leaders in the area’s real estate. Contact The Jason White Team via phone or on my website to get started finding your property in the Smokies.

                              Here are a Few of My Listings

Home In The Enclave w/ Mountain Views
This custom home has beautiful mountain views with plenty of decking and outside fireplace to enjoy. The spectacular kitchen offers plenty of high end appliances and custom details and the master bath is incredible with tumbled Italian Tile.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $1,950,000
Get more information >
Phenomenal 15 Acre Mountain Lodge !!
A mansion vacation retreat like no other. Located in prestigious Chalet Village in Gatlinburg, you won?t believe your eyes when you see this Grand Lodge situated atop a private 15acre estate lot w/270 degree views from Douglas Lake to Mt. LeConte to Ober
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $2,150,000
Get more information >
Smoky Mountain Stunner!!
This custom built home is truly a one-of-a-kind architectural achievement featuring every amenity & luxury conceivable!
Type: Single Family Home
Location: Gatlinburg, Tennessee
Price: $1,550,000
Get more information >

 

First-Time Home Buyers Are The Driving Force In Existing Home Sales

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Log-HomeMy sources at the National Association of Realtors in Washington, DC, are reporting that exisitng home sales rebounded strongly in September, with first-time buyers leading much of the sales.  The “NAR” is the largest trade association in America, representing 1.2 million members who work in various parts of the residential and commercial real estate industry.  Our association closely monitors activity in various segments of the real estate industry.  September’s existing-home sales marked another gain for the year, making 5 gains in the past 6 months.  Existing home sales include; single family homes, townhomes, condominiums and co-ops.  Data reveals sales jumped 9.4% to a seasonally adjusted annual rate of 5.57 million units in September 2009 vs 5.09 million in August 2009.  This is 9.2% higher than September 2008 figures of 5.10 million units. Sales activity is at the highest level in over 2 years.  July 2007 set the record with 5.73 million units. 

NAR chief economist, Lawrence Yun ,was cautiously optimistic in his monthly assessment. Yun felt that much of the current momentum is due to people utilizing the first-time buyer tax credit.  He was hopeful that the tax credit would be extended or expanded  into next year.  This would allow rising sales momentum to build into a point of self-sustaining recovery.  Yun feels despite the improvement, that the market in real estate has been lagging.  There is a lot of wealth tied to home values especially for the middle class.  Home prices are appearing to stabilize, but there needs to be a steady supply of genuine buyers to reduce the large inventory of unsold homes.  This action would calm consumer fears and boost the overall economy.  Without a middle class participation, recession recovery could be lengthy and weak. 

NAR President, Charles McMillan was optimistic that conditions for home affordability are favorable.  Home affordability this year is as good as records dating back to 1970.  However, he feels that the expiration of the tax credit for new home buyers may hold potential buyers out of the market.  Current homes are selling below current construction replacement costs.  Total inventory of unsold homes is dropping, but not as fast as industry leaders might desire. 

All of this data shows that home price stabilization could be in it’s early stages of recovery.  Home affordability is reasonable.  Mortgage interest rates are historically close to their lows.  There is a lot of inventory still out there for buyers to consider.  Well-priced, properly staged homes are still selling.  So, if you are considering the real estate market as a buyer or seller, now is a good opportunity. Contact The Jason White Team to get started and find out how our professional team of experts can help you achieve your real estate goals. Click here to view our local listings.

          Here are a Couple of My Latest Listings 

 

 

Heritage Log Home w/ Views of Mt LeConte
This beautifully built Heritage Log Home in prestigious Chalet Village has great views of Mt. LeConte. Private yet close to downtown shopping and dining. Three master suites for privacy and on a open lot with level parking.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $379,900
Get more information >
Value for the Money w/ Incredible Views!
This artisan quality home has possibly the best mountain views around. Located in Prestigious Chalet Village, this home would cost over a million $ to reproduce in today’s market. Such a value for your money. It even has an elevator!!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $799,900
Get more information >

 

Pending Home Sales Up for Third Month in a Row

Posted by Gatlin on

Good News out of Washington for the Real Estate Market!! Indicators released out of Washington, for June 2009, point to good activity for real estate. The Pending Home Sales Index is up for the third consecutive month from 84.6 in March to 90.3 in April. This is a 6.7% increase from last month and 3.2% higher than April last year.

Pending Home Sales Up
Pending Home Sales Up

National Association of Realtors announce that “housing affordability conditions have been at historic highs”. These markers of increasing activity are certainly assisted by low mortgage interest rates and the first-time buyer tax credit. 

With official news like this hitting the media, timing is perfect to contact Jason White to check out great buys in the Smoky Mountain Real Estate or to explore listing your property for sale with a consistant leader in Smoky Mountain Real Estate sales.