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Your Resource for Norris Lake Property & Norris Lake Real Estate

Norris Lake Real Estate is one of the largest markets for lake front home sales in east Tennessee.  Living on Norris Lake holds a special place in our lives, and working with lakefront clients is what we enjoy most. View Water Front Property.com includes information about Norris Lake serving all of the Norris Lake counties and Norris Lake communities.  Allow us to help you find your lake home. Looking for a Norris Lake Front homes or lots for sale? Search everything that the MLS has to offer.

Please use my website to search for Your Home or Property on Norris Lake or any of the other lake in east Tennessee. Click the Lake Front Homes Tab and all the lake front homes on the MLS will come up. Some of the subdivisions that we service include :Cove Norris, The Willows at Twin Cove, Big Creek, Hiawassee, Norris Crest, The Point at Shanghai, Deerfield, Cove Point, Norris Point, Flat Hollow, Sunset Bay, Hickory Pointe, Norris Shores, Lone Mountain.

Looking for a Norris Lake home? Use Quick Search or Map Search to browse an up-to-date database list of all available properties on Norris Lake, or use the Dream Home Finder form and I'll conduct a personalized search for you.

This site is updated daily with  lakefront listing in East Tennessee. Whether you're searching for a Lake House, Condo or Land, you will find all the tools and information you need on the site. We help buyers find primary, vacation, and retirement homes on all the lakes in east TN. There are numerous marinas surrounding Norris Lake that offer jet ski,party boat, pontoon and fishing boat rentals. There are many campgrounds and other lodging in the area providing beautiful mountain and lake views. You could spend a lifetime exploring all the lakes in East Tennessee. Lake living is simply the best. Lake front properties are affordable and we are your lake experts since we live, work and play on the lake.

 

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Norris Lake Dream Home Finder

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Blog

Fireflies in East Tennessee

This an amazing thing to see. About this article Great Smoky Mountains National Park announces synchronous firefly viewing dates Each year in late May or early June, thousands of visitors gather near Elkmont Campground to watch the naturally occurrin... Read more
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Real Estate News

Latest Realty News from NAR

REALTORS® Confidence Index Survey: April 2018 Highlights

The REALTORS® Confidence Index (RCI) survey[1] gathers monthly information from REALTORS® about local real estate market conditions, characteristics of buyers and sellers, and issues affecting homeownership and real estate transactions.[2] This report presents key results about market transactions from April 2018. View and download the full report here.

Market Conditions and Expectations

  • The REALTORS® Buyer Traffic Index registered at 74 (75 in April 2017).[3]
  • The REALTORS® Seller Traffic Index registered at 45 (46 in April 2017).
  • The REALTORS® Confidence Index—SixMonth Outlook Current Conditions registered at 74 for detached single-family, 63 for townhome, and 59 for condominium properties. An index above 50 indicates market conditions are expected to improve.
  • Properties were typically on the market for 26 days (29 days in April 2017).
  • Eighty-eight percent of respondents reported that home prices remained constant or rose in April 2018 compared to levels one year ago (82 percent in April 2017).

Characteristics of Buyers and Sellers

  • First-time buyers accounted for 33 percent of sales (34 percent in April 2017).
  • Vacation and investment buyers comprised 15 percent of sales (15 percent in April 2017).
  • Sales of distressed properties (foreclosed or sold as a short sale) accounted for four percent of sales (five percent in April 2017).
  • Cash sales made up 21 percent of sales (21 percent in April 2017).
  • Eighteen percent of sellers offered incentives such as paying for closing costs (eight percent), providing a warranty (seven percent), and undertaking remodeling (two percent).[4]

Issues Affecting Buyers and Sellers

  • From February–April 2018, 78 percent of contracts settled on time (72 percent in April 2017).
  • Among sales that closed in April 2018, 75 percent had contract contingencies. The most common contingencies pertained to home inspection (55 percent), obtaining financing (44 percent), and getting an acceptable appraisal (41 percent).
  • REALTORS® report “low inventory”, “interest rates”, and “multiple offers” as the major issues affecting transactions in April 2018.

About the RCI Survey

  • The RCI Survey gathers information from REALTORS® about local market conditions based on their client interactions and the characteristics of their most recent sales for the month.
  • The April 2018 survey was sent to 50,000 REALTORS® who were selected from NAR’s 1.3 million members through simple random sampling and to 7,082 respondents in the previous three surveys who provided their email addresses.
  • There were 4,555 respondents to the online survey which ran from May 1-9, 2018. The survey’s overall margin of error at the 95 percent confidence level is one percent. The margins of error for subgroups and sample proportions of below or above 50 percent are larger.
  • NAR weighs the responses by a factor that aligns the sample distribution of responses to the distribution of NAR membership.

The REALTORS® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR’s prior written consent. For questions on this report or to purchase the RCI series, please email: Data@realtors.org


[1] Thanks to George Ratiu, Managing Director, Housing and Commercial Research and Gay Cororaton, Research Economist for their data analysis and comments to the RCI Report.

[2] Respondents report on the most recent characteristics of their most recent sale for the month.

[3] An index greater than 50 means more respondents reported conditions as “strong” compared to one year ago than “weak.” An index of 50 indicates a balance of respondents

who viewed conditions as “strong” or “weak.”

[4] The difference in the sum of percentages to the total percentage of sellers who offered incentives is due to rounding.

March 2018 Housing Affordability Index

At the national level, housing affordability is down from last month and down from a year ago. Mortgage rates rose to 4.42 percent this March, up 8.2 percent compared to 4.28 percent a year ago.

  • Housing affordability declined from a year ago in March moving the index down 7.0 percent from 150.4 to 161.7. The median sales price for a single family home sold in March in the US was $252,111 up 5.9 percent from a year ago.
  • Nationally, mortgage rates were up 35 basis point from one year ago (one percentage point equals 100 basis points), while median family incomes rose 2.7 percent.

  • Regionally, the West recorded the biggest increase in price at 8.5 percent. The South had an increase of 6.0 percent while the Midwest had a gain of 5.1 percent. The Northeast had the smallest incline in price of 3.5 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The West had the biggest drop in affordability of 9.2 percent. The South had a decline of 7.3 percent followed by the Midwest with a drop of 5.7 percent. The Northeast had the smallest drop of 2.7 percent.
  • On a monthly basis, affordability is down from last month in all four regions. The West had a decline of 4.7 percent followed by the Northeast with a dip of 5.6 percent. The South had a drop of 5.9 percent followed by the Midwest, which had the biggest; dip in affordability of 8.6 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 194.7. The least affordable region remained the West where the index was 105.6. For comparison, the index was 151.8 in the South, and 163.5 in the Northeast.

  • Mortgage applications are currently down 2.5 percent. Mortgage credit availability in April was flat. Rates are rising which will increase-housing costs. Home prices are up 5.9 percent while median family incomes are only growing 2.7 percent. Inventory gains will help ease the pressure on home prices.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

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Contact Us

 I would be glad to help you look for the perfect property. If you would like to contact me by phone my cell number is 865-206-2820. Want us to do the work for you? Let us know what type of property you are looking for and the area or lake you prefer. Steve and I are very familiar with the properties on the lakes in East Tennessee. We have lived here for over 20 years. 

 If you do decide to work with us, we would be glad to pay up to $300 for your home inspection. We will reimburse you at closing. 

Thank you

Kimberly CargillWax







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Kimberly & Steve Wax
Cell: 865-206-2820
Office: 865-777-9191

KimberlyWax@msn.com

Gables & Gates, REALTORS®
11800 Kingston Pike
Knoxville, TN 37934