Today is already the first week of May! The year is already more than a quarter gone. I thought you might be interested in some statistics:
Year to date as compared to same period last year in Sevier County:
Jan 1, 11 - May 6, 11 -- - 372 homes sold
Jan 1,10 - May 6, 10 -- 478 homes sold
The decrease in homes sold is 106 homes. Down about 22%.
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The average sale price so far this year is around $176,740.00
The average sale price this time last was around $181,556.00
Not a big difference in average sale, sales are predominately, under $200,000.
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The average sales price to list price ratio is almost 93%. Looks like negotiations are about 7% off list price.
Days on market is around 195 days.
46% of houses expire on the market and are not sold. The market is very competive right now. Price is still everything. It is still and probably will be for a while a buyers market.
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There are 3806 homes on the market right now.
Last year this same time there were 3541.
We have 265 more homes on the sale right now from last year. Up about 7%.
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From what we can see the inventory for quality/well priced cabin type homes is down. The good deals on cabins are far and in between and the price/sq ft has climbed some. A year ago or even 6 months ago we could find a good deal on cabin for under or a little over 100.00 a sq ft. Now we are well above $110.00 a sq/ft or higher.
Buyers don't get discouraged though there are great deals out there. What is more important right now is that you are ready and willing to go! Waiting, figuring things out, checking this or that will loose the deal. Put it in contract and let your contingencies work for you!
Call us today for the full foreclosure list.
Friday, May 6, 2011
Monday, January 24, 2011
Happy New Year!
As you can probably tell by our lack of posts that we aren't the best at blogging. However, we would like to wish all of our clients a very happy new year (although we are a little late) and hope everyone had a great holiday season.
2010 turned out to be another excellent year for us. Thank you to everyone that purchased from us! We moved offices in August. It was a scary move at first, but we quickly adjusted and LOVE our new location at Realty Executives Smoky Mountains in Pigeon Forge. Earlier in 2010, Darlene and I (Kim) reached a personal goal for each of us and got our brokers licence. It was a very hard test to pass, but we both did!
We have many goals for a successful 2011. One of our goals is to provide our clients with a good website that is very user friendly. I think we have come a long way on this, and we hope you enjoy the new look of our website. Searching for property is easier than ever. You can search right from the home page now! If you want to see a list of foreclosures and short sales in our area, all you have to do is click on "Area Foreclosures" or "Area Short Sales." You no longer have to sign up to view the properties! Check out all our changes, and we hope you find our site more user friendly!
2010 turned out to be another excellent year for us. Thank you to everyone that purchased from us! We moved offices in August. It was a scary move at first, but we quickly adjusted and LOVE our new location at Realty Executives Smoky Mountains in Pigeon Forge. Earlier in 2010, Darlene and I (Kim) reached a personal goal for each of us and got our brokers licence. It was a very hard test to pass, but we both did!
We have many goals for a successful 2011. One of our goals is to provide our clients with a good website that is very user friendly. I think we have come a long way on this, and we hope you enjoy the new look of our website. Searching for property is easier than ever. You can search right from the home page now! If you want to see a list of foreclosures and short sales in our area, all you have to do is click on "Area Foreclosures" or "Area Short Sales." You no longer have to sign up to view the properties! Check out all our changes, and we hope you find our site more user friendly!
Monday, November 29, 2010
Wednesday, August 4, 2010
First-Time Homebuyer Mistakes
This is an article we found on some mistakes that first-time homebuyers make when shopping for their first home. Buying your first home is very exciting but can also be stressful if you don't look for a couple of key points. These are just some suggestions and cautions to take when looking for a place to call home. If you have any questions please let The Derosia Team help you out.
http://realestate.yahoo.com/promo/10-worst-first-time-homebuyer-mistakes-2010
http://realestate.yahoo.com/promo/10-worst-first-time-homebuyer-mistakes-2010
Wednesday, July 21, 2010
Gatlinburg Summer Events
If you are visiting Gatlinburg in July and August, we suggest you check out the semiannual Gatlinburg Craftsmen's Fair and see the creativity of our talented local artist. Also enjoy the Fair's live entertainment of Bluegrass and Country Music. The fair runs from July 16 - July 24 from 10:00 am - 6:00 pm Monday - Saturday and 10:00 am - 5:00 pm on Sunday at the Gatlinburg Convention Center. If you would like to learn more please visit http://www.craftmensfair.com.
Also while walking the streets of Gatlinburg don't forget to stop and watch our sidewalk performers of the Smoky Mountain Tunes and Tales. This is a great time to learn about the mountain heritage. Stop by for a fantastic interactive, educational, and entertaining experience that everyone in the family will enjoy. Here is a video to give you a preview of this show.
Also while walking the streets of Gatlinburg don't forget to stop and watch our sidewalk performers of the Smoky Mountain Tunes and Tales. This is a great time to learn about the mountain heritage. Stop by for a fantastic interactive, educational, and entertaining experience that everyone in the family will enjoy. Here is a video to give you a preview of this show.
Saturday, July 17, 2010
Should I Buy or Rent?
The question for many individuals in search of a place to call home is: “Is it more beneficial to buy or rent?” While the decision is personal preference, we would like to provide you with the advantages and disadvantages of both prospectives.
There are many advantages to buying a home. A homeowner’s mortgage goes towards the ownership of their home and the property builds equity. Also, the average homeowner’s mortgage will decline after several years of paying their mortgage. Many homeowners qualify for annual tax benefits which in some way or form reduces the mortgage. Homeowners are not dependent on landlords to maintain the property and are free to change the décor and landscaping of their home.
There are also some things that should be taken into consideration before purchasing a home. There is a possibility of foreclosure and loss of equity if the homeowner fails to make payments. Also, in some cases the homeowner may be responsible for such things as: property taxes, home and causality insurances, and maintenance of home and property.
There are a couple advantages to renting. When the lease expires the renter can move if they choose. Also, in most cases, the renter has little or no responsibility for maintenance of the home and property.
However, there are many things people should consider before renting. Many will say that renting is like throwing money down the drain. The amount of money a renter spends on rent can be about the same or less than the amount a homeowner spends on a mortgage. The difference is that at the end of the renter’s lease the renter has nothing to show for the rent they have paid into their home. Also, in many cases a renter experiences an annual 2-5% increase in their rent which they have no control over. There is also the possibility of eviction with little time to move or find a suitable place to live.
Given the advantages and disadvantages of buying and renting, people should ask themselves which one better suits their needs. Also, when making a decision to buy or rent, one might want to use a buy vs. rent calculator. There are several sites that provide this tool. One recommendation is to visit http://michaelbluejay.com/house/rentvsbuy.html.
There are many advantages to buying a home. A homeowner’s mortgage goes towards the ownership of their home and the property builds equity. Also, the average homeowner’s mortgage will decline after several years of paying their mortgage. Many homeowners qualify for annual tax benefits which in some way or form reduces the mortgage. Homeowners are not dependent on landlords to maintain the property and are free to change the décor and landscaping of their home.
There are also some things that should be taken into consideration before purchasing a home. There is a possibility of foreclosure and loss of equity if the homeowner fails to make payments. Also, in some cases the homeowner may be responsible for such things as: property taxes, home and causality insurances, and maintenance of home and property.
There are a couple advantages to renting. When the lease expires the renter can move if they choose. Also, in most cases, the renter has little or no responsibility for maintenance of the home and property.
However, there are many things people should consider before renting. Many will say that renting is like throwing money down the drain. The amount of money a renter spends on rent can be about the same or less than the amount a homeowner spends on a mortgage. The difference is that at the end of the renter’s lease the renter has nothing to show for the rent they have paid into their home. Also, in many cases a renter experiences an annual 2-5% increase in their rent which they have no control over. There is also the possibility of eviction with little time to move or find a suitable place to live.
Given the advantages and disadvantages of buying and renting, people should ask themselves which one better suits their needs. Also, when making a decision to buy or rent, one might want to use a buy vs. rent calculator. There are several sites that provide this tool. One recommendation is to visit http://michaelbluejay.com/house/rentvsbuy.html.
Wednesday, June 2, 2010
What is a Short Sale?
A short sale is a sale of real estate where the property sales for less than the balance owed on the property's loan. A short sale must be agreed upon by both the borrower and the lender. This allows them to avoid foreclosure. A short sale, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan. A short sale will affect the credit score, but not as much as a foreclosure would. If you are thinking about short selling your property or purchasing a short sale, feel free to contact us to discuss in depth how this process works. Currently, Phillip handles all our short sales and is very knowledgeable about the process.
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