The Color of the year for 2013 is….                                                                                             

Home interiors are going green!  Pantone has named

“Emerald” it’s color of the year for 2013.  Pantone

describes the jewel-like hue as a “lively, radiant,

lush green” that can offer sophistication

and luxury.  Emerald paint, accents, and

accessories will likely be decorating more home

interiors this year.

• 77% at home
• 31% at work
• 28% waiting in line
• 27% at a restaurant
• 26% at other peoples homes

Owning a Rental Property Is ‘Sweet Spot’ in Market

Marketing reports are used for determining factors, conditions, and characteristics of a real estate market.  Our most current marketing report is available for your refrence.  Gatlinburg and all of Sevier Co.

Read more at http://www.kiplinger.com/quiz/real-estate/T010-S001-how-smart-a-home-buyer-are-you/index.html#Y5gByklZqCDeyEJ0.99

932 Sourwood Drive, Gatlinburg  http://youtu.be/F6xMU1xq6O0

New Homes and Land issue has just hit the office.  Come in for your very own copy or take a look online.

Our latest Gatlinburg Market Report can be found by clicking here. If yo wish to see the entire Sevier County Market Report, including Gatlinburg, Pigeon Forge and Sevierville click here.

We will be posting periodic updates of our marketplace here on our blog.

Now might be the best time to lock in a low mortgage rate

Low interest rates have been gracing the real estate market with their presence for the past year but the word on the street is that they won’t be here much longer.  While mortgage rates aren’t going to skyrocket out of sight, it is doubtful that they will decrease and certain that they will steadily begin to rise.

For those wishing to lock in at below 5.5%, the time just might be now or never (or at least for a very long time).  This past week, the first week in April, the average 30 year fixed mortgage rate was 5.16%. Today, the rate is listed at 5.23%. The general sentiment among economists is that rates are not going anywhere but up from here.

The strengthening of the economy equals less chance for discounted rates.  If you want to refinance or purchase real estate, now might be the best time to do so.

For more information on mortgage rates click here to look at a recent article from CNNMoney.com.

Short sale & REO properties can make great investments

Short Sale and REO properties make great investments here in Gatlinburg but they are each unique and require some attention to get the deals completed.  Todays real estate market is full of bargains and whether the property is a fire sale on the owners behalf, a short sale or an REO there are plenty of properties out there which make sense for the buyer.  The complication is often getting the deal done.  Whether it is getting a contract accepted, attaining financing or following through until closing a lot of todays deals require the assistance of a real estate professional more than ever.

What are the main differences between REO properties and Short Sale properties?

REO properties are owned by the lending institution, typically a bank.  REO properties have been repossessed and the home owner is out of the picture.  REO properties are being sold by a broker division of the bank or by a Realtor hired by the bank.  The bank is in the drivers seat and rarely wants to make any improvements or deal with inspection items, preferring to sell a property “as-is”.

A Short Sale is a pre-foreclosure sale when the home owner (borrower) is still in the picture but owes more than the house is worth  In this case the lender is involved because the lender has to agree to the sale rice and the loss that they are going to take.  There may be some room for inspections and contingencies in the short sale scenario but the bank still has the last word and to get a deal done a buyer must be willing to forgo certain issues.

In either case, REO or Short Sale, a real estate professional who has experience or knowledge in distressed property can be incredibly useful.  These real estate deals are complicated and take knowledge to complete.  Contact an experienced real estate broker today to see what is going on in your local real estate market.

For more information on REO and Short Sale properties check out Realty Times by clicking here.