Hate to say it, but “Good Riddance June!!”, at least as far as the Gatlinburg real estate business is concerned. June started out pretty good for our office but several transactions have been delayed and others have disappeared, at least for now. The old saying seems to be coming true again: “In order to get a bank loan, you first must prove that you don’t really need it!”… People who have in the past borrowed money with no problem have had nothing but problems borrowing in our current environment. Once again, cash is king!
For other agencies in the Gatlinburg real estate market, June wasn’t such an easy month either. In fact, among all of the active agents in our market, a total of only 95 residential units have been reported as sold (although this number will certainly increase as agencies get around to reporting their June sales). This compares negatively with last month in which there are now 124 residential sales being reported and with June 2010 in which 135 home sales were recorded by area agencies according to the MLS. For those of you who love abuse, here is the table showing June’s performance compared with other months and years: