Gatlinburg Real Estate Updates & Community News » real estate information

Real Estate Market’s Ups & Downs Present Many Questions

lheraty — Tue, 10 Aug 2010 20:32:29 +0000

The real estate roller coster leaves many questions

Let’s face it, times are tough and on any given day the mood is a different one than the day before. The market’s up, then down, we’re in a recession, we’re recovering, it is hard to know what is really happening out there with so many mixed signals. Real estate is difficult to figure out, and remains relative to where you are. Is real estate improving? Sales are up, inventory is down but foreclosures are expected to keep coming, especially with unemployment figures on the rise. To find out if real estate in your area is improving talk to a real estate agent and look at the statistics that they provide. Each market has it's experts and in Gatlinburg you can find yours at Century 21 Four Seasons Realty. Have we hit bottom? Parts of the country have hit bottom other parts still have a way to fall. Home prices are apparently steady in parts of the country and climbing in others. In Sevier county where you'll find Gatlinburg, Pigeon Forge and Sevierville, the fall of home prices has slowed and the number of sales has increased. This gives some professionals in our market the feeling that we are in for a persistent increase in the number of homes sold while the prices will start to increase modestly by the Summer and continue an incremental upward trend into next year. It's not a return to the lofty prices of a few years ago but a steady rate of appreciation will be welcomed by everyone. In a nutshell, real estate is relative. It is improving in many areas and as soon as our recovery includes job growth real estate is going to improve in many more areas. Click here for an article about real estate on Yahoo Finance.

Make Your Home Eye-catching, Inexpensively

admin — Sat, 23 Jan 2010 03:07:28 +0000

There are many inexpensive ways to make your home more appealing

There are a million ways to improve the look of your home, some are more expensive than others. If you are thinking of selling your home or already have your home on the market here are some tried and true, inexpensive ways to improve your home and make it more appealing to a potential buyer.

Paint. Painting a home is something that anyone can do themselves, or hire a painter to do. Fresh paint on the interior and exterior of a home makes it instantly appear clean and fresh.
Clean & De-clutter. Remove clutter, family photos and other personal items and clean and organize your home. Clean your carpets.
Repair & replace. Have a broken window? Fix it. Does your screen door squeak, oil the hinges. Look at your home with a fresh set of eyes and fix what looks broken or is broken. Duct tape may be fine for you, but probably not a prospective buyer.

These are just a few things that you can do yourself. It is a competitive real estate market out there and to sell your home quickly and for the most money it has to look its best. Here in the Smokies painting in natural, earthy tones instead of those more associated with beach colors adds more value. Also, in the mountains of Gatlinburg and Pigeon Forge the properties that blend with the surroundings get noticed first.

Selling Your Home? An Inspection Can Make or Break Your Deal

broadway — Mon, 18 Jan 2010 16:21:44 +0000

Be prepared for what a home inspection might reveal when selling your home

Home inspections can often make or break a deal. If possible sellers should have one done ahead of time so repairs can be made and a home can be in its best possible condition. However, often a seller does not do a home inspection first and is caught off guard by a long list of repairs presented in the due diligence portion of the contract process. The most common home ailments that show up in the home inspection process are:

Faulty electrical wiring
Roof damage
Plumbing issues
Poor drainage
General lack of upkeep

These are issues that can add up to a potential home buyer walking away if a seller is unable to step up and make the repairs or commit the money to make the repairs. Examine these aspects of your home yourself, if you know everything is in good condition and the work that has been done to your home has been completed by professionals then you can rest easy, otherwise be prepared to make repairs in order to sell your home.

Low Mortgage Rates, Catch Them While You Can

lheraty — Sat, 09 Jan 2010 13:56:28 +0000

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.

Selling Your Home? Choose the Right Realtor

lheraty — Thu, 07 Jan 2010 16:49:14 +0000

Take time to choose the right broker when selling your home

When preparing to sell your home it is important to find a real estate professional that will best suit your needs. A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a broker that is experienced and knowledgeable, someone that will do the best job for you. When selecting your real estate agent here are a few things to keep in mind:

Data. Get a prospective Realtor to bring in a copy of what they have listed and closed. They can present you with an MLS report that displays their inventory. In some markets, especially where secondary homes and investment properties are prevelant like Gatlinburg, email is how you’ll receive most documents and information so make sure your agent is proficient with technology.

Price. Get an evaluation of your property. A solid real estate professional will be able to detail what has been selling and for what price. He will be able to evaluate your home and your location, giving you a value for your home that will help sell it not deter people from looking at it. The experienced agents at Century 21 Four Seasons can easily give you all the information you need to select the best price.

Plan. What does your Realtor plan to do for you in terms of marketing, sales, listing, etc. Make sure he has a plan for your house and find out what he is willing to do to get it sold for you. Each agent at our offices has a detailed market plan that they will present to you for your approval.

Real estate is often a person’s most valuable asset. Do your legwork and choose the best broker for your home. He or she should be a salesperson. If they can sell themselves to you perhaps they are halfway to selling your home for you as well.

Being A Landlord Can Be Easier Than You Think

lheraty — Sat, 31 Oct 2009 15:37:24 +0000

Using the internet can make the job of being a landlord easier

Being a landlord can be easier that you think. Many people are holding on to their real estate these days, some by choice, because they are waiting for a stronger market, and some by necessity, those that simply cannot sell their homes. What this means is that there are many first time landlords out there, a job that can be a bit daunting, especially if you don’t live near your property.

If you are lucky being a landlord is easy and you get a monthly check with no real involvement. Many landlords have a more difficult time however, chasing down rent, making repairs and having to constantly oversee their tenants and their properties.

Here in Sevier County, more specifically Gatlinburg & Pigeon Forge, being a landlord can be surprisingly easy. One of the many companies who manages the overnight rentals that dot the mountains in our area is Chalet Village Properties. Management companies like Chalet Village take care of everything from advertising, leasing, cleaning and general maintenance of the overnight rentals.

Another thing management companies do that makes our job selling real estate much easier is to document the rental incomes of the properties for sale. This documentation makes it much easier for a buyer to decide which rental property is the right choice for them.

Vacation Real Estate: Is it a Good Time to Invest?

admin — Fri, 18 Sep 2009 13:59:34 +0000

Now could be the perfect time to invest in vacation real estate

There are many questions when it comes to investing in real estate today one of which is, is it a good time to invest in vacation real estate? Currently it is a buyer’s market almost anywhere in the Country, as well as many locations overseas. If you can acquire financing or have the extra cash to invest real estate has always been seen as a good investment because while it may take its dips, historically it has always rebounded. Many signs point to it being a great time to invest in vacation real estate. These signs include:

• Low interest rates

• A drop in home values

• Fewer buyers, therefore less competitive market place

• Lower property taxes due to drop in home values

• Higher inventory, therefore more homes to choose from

If you have been wanting to purchase or invest in a second home in Gatlinburg or Pigeon Forge there hasn’t been a more attractive time to purchase vacation real estate in quite some time.