The real estate roller coster leaves many questions

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

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

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.

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 in the real estate business is an exercize in constant change. Even in the boom periods we are always adapting to new technology, new customer demands, and the ever changing regulations that guide us.

I get bored easily so the persistent need to change hasn’t bothered me. I remember our first web site back in the 1990’s and training my agents to use email and send attachments some time after. It seems that the advent of the IDX web site came quickly with some local brokers skeptical but it was an exciting time for me.

I wonder what the next change will be. I wonder if we have reached a point where great innovation has stopped and we’re just going to experience fine tuning of the internet tools and services we use? Will the downturn in real estate sales produce some sort of new market or marketing technique?

I think about what an instructor from a class I attended several years ago said, ‘The real estate business is and always will be one agent working with a buyer to find the right house, it’s a face to face business.’ Has the internet really changed that? Sure, people start their search online but when it comes time to look at the houses, write an offer, and negotiate they still look to us (the people who have spent thousands of dollars and hours educating ourselves) to help them navigate the waters and find their way. I guess, even thought I like change, I can take some comfort in the fact that we’re still needed.

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.”

This year even the stalwart of Sevier County, Chalet Village, has seen it’s ups and downs. Chalet Village has been the most predictable community in terms of growth and stability since I’ve been a Realtor, and that’s been a while. However, this community of mostly overnight rental homes and condos is seeing a quick stabilization.

The number of sales pending has increased over the past month as the active inventory has remained steady or even declined in some periods. A few savvy customers are telling us they believe the bottom has been reached here and with interest rates holding this week at around 5.5% they are not waiting any longer to purchase. All good news for the real estate market  and owners who want to sell in Chalet Village and Gatlinburg.

We all hear that in an election year you can expect sales to increase after the election. Even with all of the extreme factors pressing our economy it appears that old adage is coming true.

With the coming and going of Shades of the Past and the Grand Rod Run you always know it’s Fall around here. I have to admit I do like seeing all of those old cars and trucks driving around. I also really like the new trend (new to me anyway) of replacing the old engines and suspensions with modern systems. It’s like having a modern car underneath all that cool design.

The weather has finally reached that state of perfection. With upper 70’s during the day, upper 50’s to low 60’s at night and super low humidity you just can’t help but to go hiking or bike riding. We now have the perfect days to view property too. No wonder so many people come to the Great Smoky Mountains in the Fall. The Gatlinburg real estate market owes practically all it’s success to the mountains and climate that surround it.

So, if you’re planning to come to Gatlinburg, Pigeon Forge or just visiting the Great Smoky Mountains this Fall make sure you take a minute to pay homage to the reason this area is so popular; great temperate weather, beautiful scenery, and friendly people. Have a great Fall season.

Injun Creek Steam Engine

This is Nichols-Shepherd No. 4246 steam engine. Brought to Big Greenbriar Cove in the 1920s to saw lumber for a new school. On the way back out, the engine toppled over into what is now named “Injun” creek, after the wreck. Showing how marketing sometimes goes awry, or maybe it’s just spelling gone wrong.

Grapeyard Ridge trail has many creek crossings on log bridges. As you head up to Injun Creek you will find an old Indian burial ground then a side trail to visit the McCarter Cemetery, passing many rock piles and stone fences. Next camp #32 where Injun Creek and Grapeyard Ridge trail cross.

We took this picturesque hike yesterday after a long day at the office. I was a little aprehensive about a 7.6 mile hike that late in the evening but it was well worth it to see something so unique. While I highly recommend this hike I would suggest you start before 3.

All of us here in Gatlinburg know that we live in a special place. Lately, several of us at Century 21 Four Seasons have decided to start a hiking club. No membership roll or dues, just a few enthusiastic hikers from our real estate offices in Gatlinburg.

Last week we hiked Old Sugarlands Trail. It’s a moderate to easy hike that runs right along side the west prong of the Little Pigeon River. Lush wildflowers dot the landscape during the spring and it’s the perfect place to spot trilliums and ladyslippers. In the summer it’s full of dense greenery and as always towering rock formations.

About 1.5 miles into the hike we were lucky enough to come upon a mature female (I think, didn’t close enough to really tell) bear. She was cautious of us and stayed at least 50 feet away as we continued our hike. I always feel it’s a special treat to see a bear while hiking or at my home here in Gatlinburg.

Really, I get excited about seeing all of the large wildlife we have here in the Great Smoky Mountains. Seeing 3 elk, a bull a sow and their fawn, on Sunday coming back from a rafting trip was also a real treat.

Next week I think we’re hiking Injun Creek Trail. Can’t wait to see what that’s like!