Gatlinburg Real Estate Updates & Community News » gatlinburg rental

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.

Be Careful What You Spend on Remodeling

broadway — Fri, 20 Nov 2009 22:57:47 +0000

Take a look at the cost vs. value when taking on a remodel project

Be careful what you spend these days when you are thinking about remodeling your house. Home values are down and so are the recovered costs of remodeling. In 2005, at the peak of the real estate market, approximately 87% of the cost of a remodel would be recouped in the sale of a home. Today’s real estate market is recovering approximately 64% of the remodel costs. Everybody is watching their wallets, so if you are considering a remodel think carefully. While remodel costs are down it is important to remember that home values are down too. Unless you want to stay in your home for a long time you cannot count on recovering costs of a major remodel. The most cost effective remodel items today are: Roofing, siding, windows, and doors. Similarly, redoing a basement or attic is recommended instead of adding an addition. These items are recommended because a seller will recoup a greater percentage of the cost when they sell their home. For more information on current cost versus value have one our of Four Seasons agents view your home.

Forecast Expects Foreclosures to Decrease in Coming Year

lheraty — Tue, 03 Nov 2009 00:39:06 +0000

Foreclosures are expected to subside in the coming year

The latest data released by UFA L.L.C., a firm located in Ann Arbor Michigan that researches mortgage activity, states that foreclosures are expected to decrease in the next year. After four years on the rise there is no doubt that it will be nice to see foreclosures start to subside. Improvements in the foreclosure arena are seen linked to tighter lending practices, home prices stabilizing, and an improving economy. The one element working against foreclosures is the increasing unemployment which will leave some without the ability to make their mortgage payments. The onslaught of no-doc loans and inflated home prices led to four years of increasing foreclosures. The decline of real estate values is largely attributed to an elevated rate of foreclosures. A decrease in foreclosures will be a welcome sign for a real estate market that has seen better times. To view all the properties listed for sale in the Great Smokies click here.

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.

The Rent to Own Scenario

admin — Thu, 15 Oct 2009 15:18:34 +0000

The rent-to-own scenario can work out for both the buyer and the seller

The real estate market has led to some creative financing techniques, one of which is a rent to own scenario. I've noticed that here in Sevier county we're seeing more retn-to-own scenarios proposed to sellers and to buyers who may have trouble getting a loan in todays' tough lender marekt. While rent-to-own has been around for a long time, today it is helping many nervous sellers get a deal done. In essence the rent-to-own scenario is seller financing. It is important to work the specifics out in a rent-to-own situation. Items that need to be addressed are:

The percentage of the rent that goes toward the down payment
Which party pays for major repairs to the home
Which party takes care of the basic upkeep of the property
What happens to the down payment money if the buyer changes his mind

A typical rent-to-own scenario takes a portion of each months rent to put toward a down payment on the home. As soon as the down payment money is collected and reached its goal then the potential buyer can qualify for a mortgage. The seller has to cover his bases so that he is not out if the buyer changes his mind while at the same time a buyer has to look out for his best interest as well. If planned accurately and followed through diligently the rent-to-own scenario can work out well for everyone.

It’s a Buyer’s Market, Especially For Luxury Real Estate

lheraty — Thu, 24 Sep 2009 19:29:59 +0000

It's a great time to invest in luxury real estate

The news is more and more positive across the Country, home prices have risen for three straight months and the number of sales have increased for four straight months. Great news? Any positive news is great after the real estate market our Nation has been weathering. However, real estate values are hardly skyrocketing and, while increasing, sales volume is hardly knocking homes off the shelf.

It is a buyers’ market, there is no doubt about it and the buyers getting the best deal are those buying luxury real estate. Luxury homes have had the biggest drops in pricing and for those with deep pockets the savings can be tremendous.

A recent article in the Wall Street Journal points out the significant drop in price among luxury real estate. Data is showing that while mainstream home prices are stabilizing, luxury real estate, homes selling for $2 million or more, are dropping their asking prices an average of 14%. The article states, “Bottom line: At the high end, it’s a good time to be shopping for that dream home.”

If you have been dreaming of luxury real estate and have the money, this could be the time to make your dream come true.
Click here to visit the our web site and view some luxury properties in the Smokies.

An Amazing Time

broadway — Wed, 15 Oct 2008 19:14:04 +0000

It’s an amazing time to be in the real estate business. I know everyone bemoans the fact that sales are down but I just can’t help but be in awe of the deals some of our investors are getting. One, who shall remain nameless, says ‘It’s like a garage sale for the wealthy.’ It may sound callous but that attitude is pervasive with many of our cash buyers right now and even though they’re getting deals they are also helping distressed sellers and our local economy.

For Us, Gas More of a Problem

broadway — Tue, 30 Sep 2008 18:56:04 +0000

Here in the Great Smoky Mountains of East Tennessee the rental properties and the income they generate are a crucial part of our economy. Particularly, the real estate industry in Gatlinburg and Pigeon Forge.

So far this year the bad economic news hasn’t affected our rentals much. The looming crisis for our best rental season, the Fall leaves changing color, is a shortage of gas in several major southern cities. We have plenty of gas to go around here but it seems that many of our visitors from such gas starved areas as Atlanta, Nashville, and MIami are having a tough time making the choice to place their families in the car or mini-van for a vacation.

I fully expect the fear of travel to quickly subside once the gas stations in those cities have full tanks again. Hopefully, in the meantime a few travelers will go home and tell everyone, “they have gas in East Tennessee.”