Sevier County TN Residential Market Update – Foreclosures and Short Sales in Gatlinburg
When purchasing real estate it is very important to not only consider what the market may do in the future, but also analyze what has happened in the past. That brings me to the point of this post – analyzing the residential sales in Sevier County through November 2009. Please note this includes all residential sales in Sevier County – which is single family residential, condos, mobile homes, and modular homes. The data is limited to Sevier County only rather than the entire Great Smoky Mountains Association of Realtors. This is for a couple reasons, first that is my primary market area and second when you start including other counties such as Blount, Knox, Jefferson, Cocke, and others it begins to distort the data. As people frequently say “real estate is local” and by narrowing down on one particular county I think it gives a better actual perspective of what is happening in the market.
Why Use a Land for Sale Website to Help Market Acreage?
Why use a land sales site to advertise land? Typically most real estate agents specialize in residential sales. This is due to residential being the predominate sale in real estate and the fact that home generally sale faster than land. Homes sell faster because there are many more available buyers for homes than for land land even in a down market. However this means that most agents and the MLS or multiple listing service they use is geared toward getting homes advertised and sold. Land requires a different approach than homes since there are many features and value variables in land that have little or no application to homes sales. Some but not all of these are; timber value, road frontage, lay of the land or topography, land use, zoning, wildlife species and hunting, mineral rights and many others.
Home Sales in St John’s Wood Soaring
The residential sales market in St John’s Wood, like all sought after areas of central London is fuelling a self sustaining boom. Sales are incredibly strong and prices are growing, but even with all this growth the number of buyers coming in is still far greater than the number of sellers giving instructions. As a result, demand outstrips supply on a continuous basis.
How to Set the Asking Price For Your Property When There are No Comparable Sales
When performing a Comparative Market Analysis (CMA) to determine the asking price before you sell your home or condo, the normal way is to look at the most recent comparable sales. But what if there are no comparable sales? What if a condo complex or neighborhood is relatively small and there is very little turnover of the properties? How do you estimate the current market value of a property you wish to sell when nothing around you has sold for 2 years or longer and prices have gone up or down significantly?
Better Deal – Short Sale Or Foreclosure?
Real estate markets through out the U. S are seeing an unprecedented number of homes in foreclosure. The foreclosure process starts with late mortgage payment and ultimately ends with the lender taking ownership of a home when an agreement cannot be worked out between the owner and the lender. Upon foreclosure, the property is owned by the lender and becomes “real-estate owned” property or REO.
How Does Short Sale Work? – The Inside Scoop
Many people may be wondering “How does a short sale work?” The answer has many variables, but the bottom line is that banks are rarely interested in foreclosing. A bank would much rather work out a strategy with a homeowner that is has a severe hardship, than take on all the expenses and risk of foreclosing on a home.
Realtors – Is Your Newsletter Increasing Sales?
If you are a REALTOR focused on residential sales who distributes a monthly email newsletter, ask yourself: “Is my distribution list growing?” And more importantly, “Is my newsletter accomplishing what I wish it to?”