Jane Terrell Gatlinburg- Sevierville Homes for Sale

We had our first snow in October up in the higher elevations, and nothing yet down here in Sevierville, but there's somthing in the air I think... it's cloudy and gray and the leaves have lost the gorgous colors, turning a deep russet. We spent last weekend raking and blowing them in the front yard, whcih was no small task as the yard is full of 100 year old hardwoods....they make a lot of leaves! We got this first batch gathered up and then the best thing happened-- the grand niece and nephew arrived from Florida to jump in the piles! They never had experienced it before and it was the perfect fall adventure!

Maybe it's not really that wintry today-- after all it's 53 degrees...but looking at the Christmas lights that have already been strung around our festive towns, I think it might just be close!

Is the Smoky Mountain Market Changing? YES-- and here's how......

Here are some indicators of the Real Estate Market in Gatlinburg and Sevier County as a whole:

• The average SOLD price in Sevier County as a whole has risen 11.2% in the last 30 days. The per cent of asking price that buyers ended up paying was 92.6% of the asking price. This indicates that list prices are coming into line with market expectations.
• The average SOLD price in Gatlinburg has risen 4.2% in the last 30 days with the per cent of asking price paid being 91.6%
• The most sales have occurred in the $150,000 to $200,000 range with the average sale price in Gatlinburg being $207,218 and in Sevier County being $178,265.

What does this mean? It means that if you are shopping in the $150K to $200K range, you can expect some more competition than in other areas of the market. "Deals" that come on the market in this price range may generate multiple offers very quickly.

In addition, list prices are coming into line with the market at an increasing rate. This means that "low ball" offers may not be as successful as they have been in past months.

it's the 75th anniversary of the Park this summer, and we did 2 fun things to celebrate. One was the annual night-trip to see the synchronous fireflies--this year we got smart and did it out of a campsite, so we were able to have a great grilled supper before hiking up to see the flies...actually I have to admit that one family member had a sore knee so I stayed in the campsite with him. Everybody left, it got perfectly quiet except for the rush of the stream below, and then all the firelies came--a private showing just for us! We saw as many as I have ever seen before---so fun!

Then this weekend we went to the performance of the Kxonville Symphony Orchestra in Cades Cove--we got there early and got a spot under a huge Maple tree--perfect shade for the day. The rain held off and we were able to listen to the music and soak up the Cove. Most of us were selecting spots where our ashes will be spread, we love it so much there. Torrential rain on the way home--so glad it waited!

There are so many reasons I think this is the perfect place to live--I just have to keep adding to the list!

• They let school out early and close the streets, print "We Love You Dolly" Posters in the newspaper to wave at Dolly when she leads the parade.

• The Home Depot lets you take carpet samples out on "The Honor System".
• You really CAN smell the honeysuckle while you are eating roasted corn and listening to country music at the Bloomin' BBQ festival.

• I saw 5 bears in Cades Cove this week!

I spoke with 3 local lenders in Sevier County, TN in the last couple of days who service loans in Gatlinburg, TN, Sevierville, TN and Pigeon Forge Tn. I asked them about mortgage lending and why money was "so tight" and "not available" for those even with good credit scores. All three of them looked at me like I was on another planet....

One said "it's a revolving door here--we're getting all kinds of re-financing and new loans...there's money to lend here!

Another corrected me, saying that her bank (WELLS FARGO) was continuing to offer 90% loans on vacation homes or second homes!

It is so important to go right to the source, and not rely on the infomercials that cable TV has become to find out what's really happening in a specific market. Lenders here are saying "bring it on" and wanting to use their experience and creativity to address all kinds of challenges. Never hurts to get the information!

Contact Wells Fargo, BB&T or SunTrust (at (865)429-6400 here in town to get more info!