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Welcome to Realty World - Barnes Real Estate
in the Great Smoky Mountains of East Tennessee

On the Great Smoky Mountains Parkway
2264 Parkway (Hwy 441)
PIGEON FORGE, TENNESSEE 37863

This a wonderful, exciting, beautiful and growing area.
Let us share it with you.
Please call or e-mail us and let us help you
with all of your real estate needs.

(888) 453-5181 Toll Free
(865) 453-5181 Local

Our home since 1969, we have been helping people find their special place in the smoky mountains and surrounding areas. At Realty World - Barnes Real Estate Company, we know how to find the right property for your needs; we'll put our system to work for you. We are a full service real estate company because all of our agents are full time agents who live and enjoy life in the smokies.

These are just some of the areas we cover:
Sevierville, Pigeon Forge, Gatlinburg, Wears Valley, Seymour,
Kodak, Dandridge, Douglas Lake, Townsend, Pitman Center,
Cosby, Newport, Walden Creek
Sevier, Blount and Knox Counties.

We really believe "The right company makes all the difference in the world."

Isn't it Time for a Change?

Good News In Real Estate!

It is a Buyer's Market and we'll show you how.

This feature is updated often; Please bookmark us now.

Latest Story: Great News!! President Bush just signed into law the Housing and Economic Recovery Act of 2008.

This is a major victory for Realtors, coem buyers, and our nation! Thanks to advocacy, homebuyers will soon have access to more affordable financing, and first-time homebuyers (those who have not owned a home for three years) will receive a tax-credit to help them enter the market.

National Association of REALTORS®
Summary of Key Provisions of H.R. 3221 - The Housing Stimulus Bill (as of 7/30/08)

H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008. The bill includes the following provisions:

* GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500. The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008).
View 2009 FHA and GSE loan limit estimates (PDF)

* FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program. The downpayment requirement on FHA loans will go up to 3.5% (from 3%). The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008).
View 2009 FHA and GSE loan limit estimates (PDF)
FHA Reform Chart (PDF)

* Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).
First-time homebuyer tax credit chart
Frequently asked questions about the first-time homebuyer tax credit

* FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans. Lenders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30-year fixed mortgage at 90% of appraised value. Borrowers would have to share 50% of all future appreciation with FHA. The loan limit for this program is $550,440 nationwide. Program is effective on October 1, 2008.
FHA Foreclosure Rescue Chart

* Seller-funded downpayment assistance programs – codifies existing FHA proposal to prohibit the use of downpayment assistance programs funded by those who have a financial interest in the sale; does not prohibit other assistance programs provided by nonprofits funded by other sources, churches, employers, or family members. This prohibition does not go into effect until October 1, 2008.
More about the seller-funded downpayment assistance provision
Tips to finding downpayment assistance programs (PDF)

* VA loan limits – temporarily increases the VA home loan guarantee loan limits to the same level as the Economic Stimulus limits through December 31, 2008.

* Risk-based pricing – puts a moratorium on FHA using risk-based pricing for one year. This provision is effective from October 1, 2008 through September 30, 2009.

* GSE Stabilization – includes language proposed by the Treasury Department to authorize Treasury to make loans to and buy stock from the GSEs to make sure that Freddie Mac and Fannie Mae could not fail.

* Mortgage Revenue Bond Authority – authorizes $10 billion in mortgage revenue bonds for refinancing subprime mortgages.

* National Affordable Housing Trust Fund – Develops a Trust Fund funded by a percentage of profits from the GSEs. In its first years, the Trust Fund would cover costs of any defaulted loans in FHA foreclosure program. In out years, the Trust Fund would be used for the development of affordable housing.

* CDBG Funding – Provides $4 billion in neighborhood revitalization funds for communities to purchase foreclosed homes.
More about the CDBG funding provision

* LIHTC – Modernizes the Low Income Housing Tax Credit program to make it more efficient.

* Loan Originator Requirements – Strengthens the existing state-run nationwide mortgage originator licensing and registration system (and requires a parallel HUD system for states that fail to participate). Federal bank regulators will establish a parallel registration system for FDIC-insured banks. The purpose is to prevent fraud and require minimum licensing and education requirements. The bill exempts those who only perform real estate brokerage activities and are licensed or registered by a state, unless they are compensated by a lender, mortgage broker, or other loan originator.

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Call Us Today:
• Toll Free (888) 453-5181
• Local (865) 453-5181
• FAX (865) 453-3728

Postal address:
Realty World - Barnes Real Estate
2264 Parkway,
Pigeon Forge, TN 37863, USA

Photo Copyright and Courtesy of Jimi Rowland, Photographer

General Information E-mail
realtyworldsmokymtns@worldnet.att.net

Isn't it Time for a Change?

Good News In Real Estate

Don Clayton and Vivian Colleran love their pet dogs and often have healthy, well bred puppies for sale to good homes and breeders.

If you love puppies, too, then puppyfind.com will help you locate the breed you're looking for!

Entire Web Site is Copyright © 1997 through 2008 Realty World - Barnes Real Estate / Don Clayton

Each office independently owned & operated. All information on this site is deemed reliable. Any errors in descriptions, pricing, et. al., Realty World-Barnes shall not be held responsible.

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