I receive many questions regarding what our property taxes are here. So this week’s blog looks at Sevier County property taxes on mountain homes.  The property tax rate is per $100 assessed value of the home. County tax for Sevier County is $1.54 per $100 assessed value. City tax per $100 assessed value is:   Sevierville is $0.31. Pigeon Forge is $0.1242, Gatlinburg is $0.1493, and Pittman Center is .77.  The ratio of assessment is 25% for residential/rental property. This applies to owner occupied homes and second homes.  See the examples below for a home assessed at $100,000 and $250,000.

                                               For Sevier County Tax
Sevier County tax is $1.54 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $1.54 = $385.00 tax paid per year
$250,000 Home     25% of $250,000 = $62,500 x $1.54 = $962.50 tax paid per year

                                                       For City Tax
Sevierville is $.31 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $.31 = $77.50 tax paid per year
$250,000 Home     25% of $250,000 = $62,500 x $.31 = $193.75 tax paid per year

Pigeon Forge is $0.1242 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $0.1242 = $31.05 tax paid per year
$250,000 Home     25% of $250,000 = $62,500 x $0.1242 = $77.63 tax paid per year

Gatlinburg is $$0.1493 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $0.1493 = $37.33 tax paid per year
$250,000 Home     25% of $250,000 = $62,500 x $0.1493 = $93.31 tax paid per year

Pittman Center is $.77 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $.77 = $192.50 tax paid per year
$250,000 Home     25% of $250,000 = $62,500 x $.77 = $481.25 tax paid per year

Plus 30% of contents for personal property tax
There is no Income Tax
Sales Tax 7%
 
Many visitors to our area find our property taxes very reasonable.  The planning and working with tourist traffic over the years has helped to develop the Sevier County infrastructure.  The influx of visitors provided a revenue stream that has assisted in sharing the costs for developing the area.  This has helped to keep costs lower for residents by maintaining reasonable local living taxes.

If you are interested in living here, or owning investment property that keeps you coming back with tax incentives, then check out the Jason White Team website.  You set your own search criteria, and view only those properties that fit your criteria. When it is time to take a personal look, our team of property professionals are here to assist you.  Contact us today to begin your Smoky Mountain property acquisition.

Here are a Few of My Latest Listings:

Estate Home on Lake Peninsula This palatial, custom built, heirloom estate is a perfect home for entertaining or just relaxing by the waterside. Expansive views of Flat Creek(Douglas Lake) and surrounding mountain ridges. Beautiful professionally landscaped gardens. Type: Single Family Home Location: Douglas Lake Price: $1,120,000 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 >

Dramatic Mt LeConte View/Newly Updated! Totally updated Chalet with dramatic Smoky Mountain (Mt LeConte)views. Level parking which is a bonus as well as within walking distance of pool and tennis courts at Owner’s Club Type: Single Family Home Location: Chalet Village Price: $349,900 Get more information >

Smoky Mountain Real Estate joins the rest of the country in an adjustment to life without federal stimulus, for buying houses.  The May news out of the National Association of Realtors for Pending Home Sales was totally expected.  The report for May showed the Pending Home Sales Index fell 30% from the April index reading.  This forward-oriented index tracks home purchase contracts that are signed, but the transaction is not officially closed.  The Pending Home Sales Index has proven to be a useful gauge in tracking home sales.  Trends are more accurate in longer term comparisons.  For instance, there is better accuracy in time frames year vs year, than in month to  month match-ups.  The significant drop from April to May was almost a forgone conclusion.  The extension of the “homebuyer tax credit” artificially forced hesitant homebuyers into the market.  This provided robust home sales figures for; February, March, and April of this year. When the homebuying incentive ended, activity fell off. 

NAR’s chief economist, Lawrence Yun expected this homebuyer behavior from the federal stimulus.  He is pleased that congress has extended the deadline on official closings, because approximately 180,000 buyers missed the original June 30th close date.  Unusually long closing times were caused by tighter lending qualifications, and by lengthy short sale processing.  Yun also expects June figures to be low, as the adjustment to a more natural home buying market takes effect.  The Chief Economist is pleasantly surprised, that some markets have seen increased home purchases without the federal stimulus.  Furthermore, the tax credit appears to have helped stabilize home prices.  Additional good housing news appears in a congressional renewal of the National Flood Insurance Program.

Today’s housing and real estate market is still a great place for purchasing a home or investment property.  Given the uncertainty across the world’s investments markets, Smoky Mountain real estate looks quite good.  There is ample inventory for sale and  qualified buyers will find low interest rates on mortgages.  Our mountain area is geographically beautiful, with many man-made attractions throughout the region.  Check out properties on our user-friendly web site, using your personal search criteria. Contact the Jason White Team to finalize your purchase with help from our experienced real estate professionals.

Here are a Couple of My Latest Listings:

Private Bedroom Suites w/Mountain Views! Incredible mountain views with private bathroom suites. Type: Single Family Home Location: Chalet Village Price: $269,900 Get more information >

Mountain Community w/Serene Privacy Nestled among 13+ acres this Mountain Community offers a mountain stream, tennis courts, pool and many more amenities. This hand crafted custom log home is ideal for retirement living due to the layout. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $399,000 Get more information >

Gatlinburg homes sales and real estate transactions from nearby areas are reported monthly to members of the Great Smoky Mountains Association of Realtors.  The June 2010 results are out, and the comparisons to June of 2009 are complete.  This data can be useful in spotting trends and identifying local pockets of amplified sales activity. The June 2010 analysis reveals a mixed bag of results with some areas up and others down in sales.  There certainly appears to be evidence of the tax credit stimulus having an influence on residential sales.  June 2010 was the final month where qualifying homes had to close for the tax credit. The total residential results for all areas seem to indicate this stimulus influence.  Number of residences sold in June 2010 vs June 2009 is up 7% to 123.  However, total residential volume sold is down 4% to $20,619,568 for this June.  In addition, the average sale for a residence is down 9% to $167,639 for June of 2010.  All this data indicates that last minute, first time homebuyers were scrambling to qualify for the tax credit.  Their activity was the driving influence for this June’s residential sales.  Another item of interest is that the quantity of active listings is up 17% to 4,067 for June of 2010.

This material can be helpful for finding your Smoky Mountain dream property.  Current interest rates are quite low for qualified buyers.  These Great Smoky Mountain Association of Realtor results show active listings are up.  That gives today’s buyers a great selection and good mortgage interest rates which is a great combination.  You can start your Smoky Mountains property search with no commitment to go further than you want.  Simply go on our website and avail yourself to our real estate resources.  When you decide to buy that special home or property, contact us and use our expertise to purchase that special piece of Smoky Mountains real estate.

Here are a Few of My Current Listings:

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 >

Outstanding Mtn Views, family retreat!! This classic mountain chalet has spectacular mountian views and used previously as a private family retreat. High ceilings, lots of glass and 2 beautiful mountain stone fireplaces, plus lots of level parking and walking distance to community club house. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $269,900 Get more information >

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: $669,000 Get more information >

Gatlinburg real estate results follow general U.S. property trends.  Long term realtors of the Smokies have watched our housing market follow the broad American property market.  In this blog, let us first examine the S & P/Case-Shiller April data in greater detail.  This specific index was started in 2006 to track U.S. home prices.  It began with 10 metropolitan population areas and expanded to 20.  Figures are compiled as “seasonally adjusted” and non-seasonally adjusted.  For you serious analysts, you can go to links online to view the home price indices model.  Click on the S & P/Case-Shiller April data link above.   However, in the interest of time for most blog readers here is the “cliff notes” version of the April results.  April 2010 was an improvement over March of 2010.  Similar improvement was observed in the 10 and 20 city composites of April 2009 over April 2010.  Given that April 2010 was the final month for the “homebuyer tax credit”, this was widely expected.  This general home price improvement does not indicate that a robust home price recovery is currently under way.  However, some intriguing details are revealed in the data from the indices. 

In sifting through the data you can see that favorite places with beauty and great climate have not radically declined like some metro areas.  Noteable examples are San Diego and San Francisco.  These locations of beauty and great climate have continued to attract homebuyers.  This contrasts with neighboring areas like Las Vegas.  Las Vegas was a skyrocket performer in the recent price bubble, that is currently struggling to rebound.

Over the years, we realtor/residents of the East Tennessee Smokies saw our area grow like much of the national real estate market.  However, our area never experienced insane price spikes like some areas.  Smoky Mountains homes enjoy great climate and awesome natural beauty.  The ease of access for over 1/2 the U.S. population is a bonus.  The multiple man-made activities are a draw that amps up the area’s tourist attraction.  In a time of economic uncertainty, the Smokies offer the real estate investor multiple options from houses, to rental properties.  Start looking on our website to begin your search.

Here are a Few of My Current Listings:

2.42 Acre Rocky Creek Frontage! Level building site with beautiful rocky creek frontage. Only 1.5 miles to downtown Gatlinburg and southern exposure! Type: Land Location: Gatlinburg ,Tennessee Price: $150,000 Get more information >

Upscale Neighborhood-Authentic Log Cabin This authentic log home is located in an upscale neighborhood and is in excellent condition. Bedroom/Bath on each floor for privacy as well as a large gameroom for your enjoyment. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $249,900 Get more information >

Spectacular Smoky Mountain View!! Unique opportunity to own a lot like this! Spectacular mountain and city view, with level building site. Type: Land Location: Gatlinburg ,Tennessee Price: $125,000 Get more information >

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!

If you have been viewing Gatlinburg homes for sale, now could be a great time to buy.  I recommend that buyers begin their property search online.  In the quiet, undisturbed peace of your own environment, you can set up personalized selection parameters.  This allows you to view a great variety of properties.  The awesome aspect of the online search is personal convenience.  You can take as much time as you want. Your search becomes personalized, catering to your desires.  There are no time constraints except the possible sale of a desireable house or property.  However, when you reach that point where you must view the real estate in person, our team of professionals are ready to assist you.  We suggest that your property search should coincide with our area’s local events.  Either time your visit to hit on an activity of interest or avoid activities that you have no interest.  This maximizes your time spent in the East Tennessee Smokies.  Moments spent outside the quest for property can offer you fun entertainment.  This mix of business with pleasure can help balance the overall decision-making process. 

In keeping with this concept, we hope to give you a brief taste of a few of the area’s many upcoming festivities.  This is a tall order because of the multitude of activities and events this area offers.  Hopefully, our blog will motivate you to check online sites at; Gatlinburg, Pigeon Forge, Sevierville, and surrounding areas for more details and other activities too numerous to list here.  At least this will help get you started to plan your trip to the Smokies.

The July 4th holiday is a good time to travel, because of most people’s vacation schedules.  There is much happening in the Smokies.  Gatlinburg kicks off the July 4th celebrations with their 35th consecutive year of a midnight Independence Day Parade,  beginning at midnight on July 3rd.  In past years, close to 100,000 spectators have watched a mile long parade salute the courageous men and women who helped win our independence.  The parade will include; floats, marching bands, equestrians, military personnel, and much more.  Outdoor food, concerts, and fireworks will highlight the festivities.  For history buffs, you can start on Friday July 2nd in Gatlinburg as the Southern Guard Brigade returns to reinact the “Battle of Burg Hill” on the field near Mills Park.  The actual reenactment is on Saturday and Sunday, July 3rd and 4th.  Pigeon Forge kicks off Independence Day celebrations on July 2nd with Music on the Square at Old Mill Square, followed by their 20th Annual Patriot Festival on July 3rd with outdoor food, shopping and fireworks as the holiday progresses.  Events continue to unfold as July counts down with a Girls Slowpitch Softball World Series, Gatlinburg Craftsmen’s Fair, Girl’s Fastpitch Softball World Series, Musical Concerts, and Vintage Open Car Shows. 

Plan ahead to be part of the fun and contact the Jason White Team to find real estate in the area to keep you coming back.

Here are a Couple of My Latest Listings:

Location, Location, Location/ Great View Great location on top floor and corner unit! The mountain views are breathtaking. Amenities include pool, hot tubs, and sauna. Type: Condo Location: Gatlinburg ,Tennessee Price: $99,500 Get more information >

Private Acreage with Creek Frontage/View Private acreage with beautiful mountain view and creek frontage and waterfall. Panoramic view with easy road access. Truly a dream come true for just the right person. Type: Land Location: Gatlinburg ,Tennessee Price: $179,900 Get more information

Call today for more information on these or any other properties 877-678-2121

Lawrence Yun, NAR’s chief economist, expected these results, and is cautiously optimistic on a housing market without federal tax stimulus.  Yun saw the homebuyer tax credit bring almost 1 million buyers into the housing market. This action has stimulated the “trade-up” portion of home buyers to enter the market as sellers and buyers.  This combined activity of new and veteran home owners is shrinking inventories of homes for sale.  In turn, this shrinking inventory helps firm up home prices.  This process is important in holding home values.  Currently, a sizeable portion of “bargain-priced” foreclosures and short sales are making up today’s realty market.  Yun is hopeful that congress allows some flexibility on the tax credit deadline.  Current challenges in meeting a timely closing are jeopardizing the tax credit for many buyers.  The chief economist feels that new job creation in the U.S. is crucial to the long term health of the country’s housing market, as well as the economy in general.

This review of the present year’s April home sales shows several positive aspects to the country’s real estate market.  Pricing is showing a rebound, despite a strong influence from discount priced properties.  There appears to be a renewed buyer confidence growing in the housing market, even without the tax credit stimulus. Mortgage interest rates are currently at very low levels for qualified buyers.  These factors combined with massive uncertainty in the world’s investment markets could make this an ideal time to purchase a property in the East Tennessee Smokies.  The Jason White Team has a website geared for you to prescreen properties, based on your personal search criteria.  When you refine your search, come to the area to view your choices in person. Our team of professionals are here to assist in finalizing your quest.  Contact us online or by phone 877-678-2121 to get started today.                                                        

Here are a Few of My Latest Listings:

Corner Condo with Spectacular Mtn Views! Ground floor, corner unit with spectacular Great Smoky Mountain views. Wonderful indoor facility w/ pool as well as an outside pool. Type: Condo Location: Gatlinburg ,Tennessee Price: $106,900 Get more information >

Top Floor w/ Best Mountain Views !! Best views in the county. Really close to the Great Smoky Mountains with direct views of large peaks and city lights of Gatlinburg. This top floor condo is furnished nicely with access to outdoor pool and indoor pool area with amenities. Type: Condo Location: Gatlinburg ,Tennessee Price: $117,000 Get more information >

Outstanding Mountain Views!! Outstanding mountain views from this totally updated unit, and very well maintain complex with pool and hot tub patio Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $119,900 Get more information >

Mountain Villa w/ Private Pool Mountain villa with private solar-heated salt water pool and cabana on a peaceful lakefront setting. Chef’s dream kitchen and fantastic mountain views. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $799,000 Get more information >

Call today if you would like to view any of these, or other properties!  877-678-2121

Homes in Gatlinburg, Tennessee and across the nation are adjusting to a real estate market without federal tax incentives for buying houses.  My news sources out of the Wall Street Journal feel the market is reacting much as expected, to life without an $8,000 tax credit for buying a new home.  Throughout the duration of this federal program, the stimulus tax credit combined with low mortgage interest rates, to bring buyers back into the real estate market.  The influx of homebuyers absorbed enough of a massive inventory of homes for sale to stall a decrease in home values.  Many areas of the U.S. are seeing home prices rebound nicely.  Obviously, the tax incentives accelerated homebuying activity and enticed buyers to purchase earlier than they may have done without the stimulus.  For this reason, a drop in homebuying was expected as the federal stimulus ended.

The highlight in the current real estate market is that mortgage interest rates are very low and there is a good selection of homes for sale.  Average 30 year rates fell to 4.8% while 15 year rates appeared to rise to 4.25%.  However, the fees charged to borrowers fell, in effect, lowering the 15 year rate.  The challenge in mortgages lie in the tougher qualification standards.  If you qualify, this is a great time to find your property and lock in a really great interest rate on your mortgage. 

In considering East Tennessee Smokies’ real estate, there are several factors that could make now a great time to buy.  First, as previously mentioned, there are great interest rates for qualified buyers and there is a great selection of property for sale.  Second, the Smokies did not see the great spike up in prices that drove other markets across the country.  One can get a lot of value for the money in this area.   Third, our area is a convenient location for over 1/2 of the U.S. population.  The area is physically beautiful and the local area caters to visitors.  In addition, an investment in Smokies real estate could be far more stable than other investments in today’s volatile investment arena.  Contact the professionals of the Jason White Team online or by phone and begin your search today to acquire the property of your dreams in East Tennessee’s Great Smoky Mountains.

Here are a Few of My Current Listings:

Private with Beautiful Mountain View Plenty of community ammenities, private, yet close to town. Enjoy nature and wildlife at this tastefully furnished log cabin from three covered decks, all with mountain views. Spacious for family gatherings, with two game rooms as well as a living room. Type: Single Family Home Location: Pigeon Forge Price: $325,000 Get more information >

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 >

Gatlinburg Home in Enclave w/ Mtn 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 >

Call today for information on any of these or other listings that may be of interest to you!  877-678-2121

There is encouraging news that continues to build in the country’s housing market.  My realty news sources out of the National Association of Realtors in Washington D.C. are reporting improvement on multiple fronts within U.S. home sales.  In the first quarter of 2010 more metropolitan areas of the country are seeing home price increases, over the same period in 2009. There were 91 out of 152 metropolitan statistical areas, that saw higher median existing single-family home prices over 2009’s first quarter figures.  The national median existing single-family home price for the first quarter was $166,100.  2009’s first quarter median price was $167,300.  In a median price, 1/2 sell for more and 1/2 sell for less.  This slight decline shows a resilience in the housing market because the first quarter of 2010 contained 36% distressed homes.  “Distressed” homes are bargain priced, typically 15% below market price, and include; foreclosures, short sales, REO’s, etc.  With over 1/3 of the first quarter houses selling with below market prices, the balance of non-distressed homes must be improving their value to offset this difference.

NAR’s Chief Economist, Lawrence Yun is encouraged by the growing stabilization in home prices.  He continues to believe that the drop in inventory of homes for sale will promote home price stability.  The reduction of home inventories has been facilitated by the homebuyer tax credit stimulus.  Yun hopes that this federal stimulus will be enough to allow home prices to consolidate and then resume their upward trend. NAR President, Vicki Cox Golder sees a renewed confidence returning to homebuyers.  She also sees homebuyers moving into a “buy and hold” mindset that is moving away from the “buy and flip” mentality that became prevalent in recent homebuyers.  The NAR President feels that financing of homes may be the greatest hurdle to future home purchases.  Interest rates are beginning to rise and mortgage restrictions have been a challenge to closing deals for many realtors. 

If you have been entertaining the dream of owning a home in the Tennessee Smokies, now could be the time to buy.  There is a good supply of properties for sale.  For qualified buyers, there are good interest rates that are slowly beginning to increase.  Prices are off their highs on most real estate.  With the world’s currency and stock markets moving up and down like yo-yo’s, this could be a good time to put some investment into Smokies real estate.  At least it gives you a reason to come and visit the beauty and fun here in East Tennessee’s Great Smoky Mountains.  Surf our website and get your search parameters set to find the property you want.  Getting started with leading realty professionals of the Jason White Team is only a mouse click or phone call away.  Call today!  877-678-2121

Here are a Couple of My Latest Listings:

Level Parking/Great Views of Mt LeConte! Totally updated chalet with huge wrap around deck to enjoy the spectacular views of Mt LeConte. Private master with sitting area and custom tile shower and 2 shower heads and updated gourmet kitchen. Sold fully furnished and short walk to community pool. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $249,900 Get more information >

Contemporary Mtn Home w/Mt LeConte View This contemporary mountain home as been updated. It offers amazing Mt LeConte views with master on main level and two bedroom suites and living room downstairs for privacy. Already on a rental program and producing great income. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $399,900 Get more information >

Call me today at the Jason White Team to view any of my listings!  877-678-2121

Today’s real estate market participant needs to be savvy to the wide variety of terms used to describe “financially distressed” real estate in the U.S.  As buyer or seller, there are legal steps for disposing or acquiring certain types of  ”distressed real estate”.  Sellers of  ”distressed property” can have their credit score adversely impacted, depending upon the type of liquidation process that is used on their property.  With all this being said, deeply-discounted property from; foreclosures, short sales, etc, helped drive the 2009 real estate market in the U.S.  This was especially powerful, when combined with federal tax credits geared to motivate new and repeat homebuyers to enter the market.  The impact of these “financially distressed” properties may be a significant part of our country’s real estate picture for some time into the future.

For these reasons, I feel this week’s blog/newsletter should kick off an examination of the various terms used for “distressed property” in today’s realty arena.  Please be aware that laws governing “distressed property” and real estate in general vary from state to state.  There can be federal IRS tax consequences hidden in these “bargain properties” as well.  For the best advice possible, utilize a CPA and an attorney with real estate experience in the area that you are buying or selling real estate.  The Jason White Team can refer you to professionals in East Tennessee’s Smokies that can assist with complex property issues on a sale or purchase here.  In order to keep this blog/newsletter reasonable in length, look for the upcoming examination and definition of “financially distressed properties” like foreclosure and short sale in my website, www.smokymountainlifestyle.com,  under the categories of; “For the Buyer” and “For the Seller” across the top of my home page. This project should be complete within the next week or so.

Here are a Couple of My Latest Listings: (These are not foreclosures or short sales!)

Update w/ Spectacular Views of Mountains This updated, meticulously maintained home is a beauty! Enjoy the spectacular northern view of the mountains from a level yard on one of many decks. Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $248,500 Get more information >

Up Close and Personal w/ Mt LeConte Level yard and totally updated with panoramic views of Mt. LeConte and Gatlinburg’s city lights. Excellent location-close to downtown Gatlinburg and all the amenities! Type: Single Family Home Location: Gatlinburg ,Tennessee Price: $239,900