865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Discover Your Dream Home at 8613 Rayworth Trail, Powell, TN – East Tennessee’s Prime Real Estate!

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Embark on a journey to comfort and convenience with this beautiful home nestled in the heart of Powell, Tennessee, a sought-after location in East Tennessee. Spanning a generous 2,170 square feet, this well cared for property in the Knoxville area ensures a perfect blend of style and functionality, making it a top choice for those searching for homes in Powell, TN.

🔑 Key Features: Spacious Living in East Tennessee: Enjoy 3 cozy bedrooms, plus a large bonus room perfect for various uses, in this Powell, TN home. Modern Kitchen: Delight in preparing meals in the updated kitchen, equipped with stainless steel appliances. Luxurious Owner’s Suite: Relax in the opulent owner’s suite bath, complete with a jetted tub, separate shower, and dual sinks in this Knoxville area home. Outdoor Oasis: Unwind on the covered patio overlooking the fenced backyard in Powell, complete with an oversized storage shed and playset.

🛠 Recent Upgrades: 4-year-old roof ensuring durability in East Tennessee’s climate. Updated bathrooms for a modern touch in this Powell, TN property. 2 car garage with a handy workbench for all your projects.

📍 Prime Location in Knoxville Area: Situated just minutes from Emory Road in Powell, enjoy effortless access to a plethora of shopping and dining options in the Knoxville area. The convenient location also provides easy access to the interstate, making your daily commute from East Tennessee a breeze.

💰 Affordable Financing in Powell, TN: Take advantage of 100% financing available, making your dream home in East Tennessee more attainable than ever! Don’t miss this incredible opportunity to own a piece of prime real estate in Powell, TN, near Knoxville. At 8613 Rayworth Trail, indulge in the perfect blend of luxury, comfort, and convenience in East Tennessee.

🌟 Don’t let this opportunity slip away! Text Troy Stavros at CornerStone Realty Associates now at 📱 865-999-0925. Secure your private tour and get all your questions answered. Your dream home at 8613 Rayworth Trail, Powell, TN is waiting for you. Reach out now and open the door to your future! 🏡

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Unlocking Opportunities: Exploring the Modern Era of Adjustable-Rate Mortgages

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Cast your mind back to the real estate turbulence of 2008, a time when adjustable-rate mortgages (ARMs) commanded the spotlight. Fast forward to today, and ARMs are experiencing a resurgence in popularity among both seasoned homeowners and first-time buyers. Let’s delve into the reasons behind this shift and lay to rest any concerns it might evoke.

A visual representation of data from the Mortgage Bankers Association (MBA) serves as our guide, illustrating the gradual rise in the prevalence of adjustable-rate mortgages over recent years:

As the graph demonstrates, the landscape shifted from approximately 3% of all mortgages in 2021 to a notable increase in ARMs usage last year. The rationale behind this uptick is quite straightforward. With mortgage rates undergoing a significant climb, homeowners found solace in the ARMs option. The allure was simple: ARMs provided a way to secure lower interest rates in a climate where conventional borrowing costs were peaking.

Now, let’s debunk any misconceptions right away – the ARMs of today are not the same as the ones that contributed to the 2008 housing crisis. A pivotal factor behind that crisis was the lax lending standards prevailing at the time. Borrowers could obtain ARMs without substantiating their employment, income, or assets – a recipe for financial instability. This approach landed many homeowners in hot water, as they grappled with loans they were never truly qualified for.

In this iteration, lending standards have undergone a transformation. The financial sector has heeded the lessons from history, implementing stringent verification procedures for income, assets, and employment. In essence, modern-day borrowers are required to qualify for their loans, establishing their capacity to repay.

Archana Pradhan, an Economist at CoreLogic, elucidates the evolution:

“About 60% of Adjustable-Rate Mortgages (ARM) originated in 2007 were granted with minimal or no documentation… Similarly, in 2005, 29% of ARM borrowers had credit scores below 640… At present, nearly all conventional loans, including both ARMs and Fixed-Rate Mortgages, mandate comprehensive documentation, amortization, and are extended to borrowers with credit scores above 640.”

To make this crystal clear, let’s put it in layman’s terms, as described by Laurie Goodman at Urban Institute:

“The Adjustable-Rate Mortgages available today carry no more risk than other mortgage products, and their lower monthly payments could potentially widen access to homeownership for a larger pool of prospective buyers.”

For those concerned that today’s ARMs might resemble the previous crisis triggers, take comfort in knowing that the dynamics have shifted significantly this time around.

And for those venturing into the realm of homeownership for the first time, seeking viable lending options to navigate today’s affordability challenges, consider reaching out to a trusted lender. They stand ready to guide you through the intricate landscape of modern real estate financing.”

Discover Your Dream Home | Impeccable Renovation | Prime Location in Lenoir City, Tennessee

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Welcome to 8103 Ford Road in Lenoir City, Tennessee, where livability and convenience come together to create the perfect home for you! This gem is ideally situated just a short 4-minute drive to Farragut and less than 30 minutes from Downtown Knoxville, ensuring you’re never far from the heart of the action. With Interstate 40/75 just 8 minutes away and HWY 321 in close proximity, getting around town has never been easier.

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609 Brochardt Blvd (Fox Run S/D): Tour this Majestic Farragut Home with Stunning Updates!

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Welcome to 609 Brochardt Boulevard, a luxurious Farragut home nestled in the highly sought-after Fox Run Subdivision. Majestically perched above the boulevard, this stunning residence captures attention with its impeccable curb appeal. Prepare to be captivated as you step inside and discover over $100,000 in recent updates that will leave you in awe.

The open floor plan of this home has been thoughtfully redesigned to create a seamless flow, perfect for modern living and entertaining. Enter the newly renovated eat-in kitchen, adorned with an oversized Brazilian Granite island and butcher block counters. Professional-grade appliances stand ready to elevate your culinary adventures. From here, your gaze effortlessly extends into the spacious family room, complete with a cozy fireplace and double doors that beckon you to the outdoors. Abundant natural light bathes the interior, pouring through the wall of windows in the breakfast area as well as the family room, creating an inviting and uplifting ambiance throughout.

Indulge in the pleasures of hosting gatherings on the new paver patio. Enjoy the ambiance of the free-standing fireplace and natural stone hearth while overlooking the park-like fenced backyard. This enchanting outdoor space is destined to become your favorite oasis, ideal for memorable moments with loved ones.

Retreat to the main level owner’s suite, where luxury awaits. The upgraded bathroom exudes elegance, showcasing double sinks nestled within a gorgeous marble top. Polished porcelain flooring sets the stage, leading you to the Calcutta Italian Marble tile shower with a glass door. Immerse yourself in relaxation within the new free-standing tub, complete with whirlpool, air bubbles, and built-in lighting.

Every detail has been considered, including the exquisite bamboo flooring throughout the majority of the main level. With its exceptional hardness, this flooring can withstand the activities of even the largest pets without a scratch. Step into the main level office, adorned with new French doors, creating a sophisticated space for work or study.

Rest easy knowing that a brand new 50-year roof was recently installed, providing peace of mind with its transferrable warranty. The exterior has been freshly whitewashed, adding a touch of timeless charm, while the freshly painted trim completes the picture of perfection.

The Fox Run Subdivision offers an array of remarkable amenities, including two fabulous community swimming pools, just in time for the summer season. Take advantage of the neighborhood clubhouse, tennis courts, and play fields, creating opportunities for endless recreation and enjoyment.

Located in the prime Farragut, Tennessee area, this home is zoned for all Farragut schools and boasts unrivaled convenience. Shopping centers, grocery stores, restaurants, coffee shops, parks, golf courses, a country club, and even Top Golf are all just minutes away. With easy access to the interstate, you’ll find that the world is at your fingertips.

609 Brochardt Blvd is not simply a home; it’s a gateway to an extraordinary lifestyle. Embrace the ultimate in luxury, comfort, and convenience as you make this exquisite residence your own. Don’t miss your chance to experience the epitome of Farragut living.

Have questions? Would you like to schedule a time to see this home? Looking for other homes like it? Need help selling your home in East Tennessee? Contact me, Troy Stavros with CornerStone Realty Associates today at 865-999-0925. I look forward to serving you!

Farragut TN Housing Market Update: July 12th Edition | Prices, Sales, Inventory, and Future Outlook

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Welcome to our latest Farragut TN Housing Market Update! In this video, we’ll provide you with comprehensive insights into the local Farragut, Tennessee real estate market, focusing on key metrics such as prices, sales, inventory, and future projections. Whether you’re a homeowner in Farragut, buyer in Farragut, seller in Farragut, or simply interested in the Farragut TN housing market trends, this video is packed with valuable information to help you make informed decisions.

Our expert analysis takes into account the latest data available up to July 12th, offering you an up-to-date snapshot of the Farragut TN housing market. We’ll delve into the current pricing trends, examining how Farragut home prices have changed and what factors are influencing these fluctuations. Additionally, we’ll explore the sales activity, highlighting any notable patterns or shifts in demand.

Furthermore, we’ll discuss the inventory levels in Farragut TN and how it impacts the market dynamics. Understanding the supply of available homes in Farragut is crucial for both buyers and sellers, as it influences pricing and negotiation power.

To provide you with a well-rounded view, we’ll also engage in future casting, giving you our expert insights and predictions regarding the direction the Farragut TN housing market may take. We have thoroughly analyzed various factors such as economic indicators, local developments, and regional trends to offer you a glimpse into what the future may hold for the Farragut Tennessee real estate landscape.

Whether you’re a seasoned investor, a first-time homebuyer, or someone looking to sell their property, staying up-to-date with the local Farragut TN housing market is essential. Watch our video to gain a competitive edge and make informed decisions. Don’t miss out on this valuable opportunity to understand the Farragut TN housing market better!

Remember to like this video, subscribe to our channel, and hit the notification bell to stay updated with the latest market updates. If you have any questions or want us to cover specific topics in future videos, please leave a comment below. Let’s dive into the Farragut TN housing market together!

Have questions? Need help buying or selling a home in Farragut or anywhere in East Tennessee? Want to know what your home is worth? Contact (call or text) Troy Stavros with CornerStone Realty Associates today at 865-999-0925.

JUNE 2023 Knoxville Real Estate Market Update: Rising Rents, Home Prices, and Mortgage Rates

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Welcome to the Knoxville Real Estate Report! In this video, we’ll dive into the latest trends and insights shaping the housing market in our beautiful city.

First, let’s talk about apartment rents. Over the past year, Knoxville has seen a remarkable increase of 9.2% in apartment rents, outpacing the national average growth of 2.3%. This means that finding a place to rent in Knoxville has become more competitive, and prices are on the rise.

In June, the Federal Reserve decided to keep interest rates steady after a string of ten consecutive rate increases. However, officials hinted that future rate hikes may be necessary next month if inflation doesn’t continue to decrease. This decision has implications for the housing market, as higher interest rates can impact the affordability of homes and influence buyer behavior.

Speaking of the housing market, East Tennessee has experienced a notable increase in housing inventory throughout June. However, the number of homes listed for sale remains approximately 60% lower than pre-pandemic levels. This shortage of available homes contributes to the high prices and rents we are currently seeing in the region.

The recently released “The State of the Nation’s Housing 2023” report from the Harvard Joint Center for Housing Studies confirms that home prices and rents remain high in East Tennessee. With higher interest rates locking homeowners in place and slowing construction, the market faces challenges in meeting the demand for affordable housing.

Home sales in Knoxville saw a boost in May, partly due to a temporary decline in mortgage rates the previous month. Buyers in today’s market are highly sensitive to mortgage rates, and their fluctuations can impact home sales in the coming months. Additionally, the lack of inventory and new listings has intensified competition, especially for homes priced under $400,000.

In summary, while market activity has somewhat normalized, the housing market in Knoxville is still far from ordinary. Higher mortgage rates and historically low inventory levels create a dynamic that is unfamiliar territory for many. Although the situation may seem unsustainable, data suggests that these market conditions are likely here to stay.

Looking at housing inventory, we observed a modest increase over the past month, which is typical for this time of year. Active listings in June were up around 20% compared to the previous year. However, inventory levels remain well below pre-pandemic averages across all counties in the East Tennessee region. Although most counties experienced month-over-month increases in inventory, the growth was relatively subdued compared to historical trends.

Now, let’s talk about mortgage rates. Currently, rates are just over one percentage point higher than they were a year ago, resulting in a 20% increase in the required monthly payment for the median-priced listing. These higher rates have led many homeowners to hold off on selling their homes and moving, contributing to the low inventory we’re seeing in the market. As a result, prospective buyers are increasingly turning to the new-home market.

Looking ahead, the outlook for mortgage rates remains uncertain. Despite the Federal Reserve’s decision to pause rate hikes in June, there is a possibility that rates will resume their upward trend in the near future. With inflation still above the Fed’s target, it’s likely that rate increases will be on the horizon. As a result, mortgage rates are expected to hover around 6.5% throughout the summer months.

In Knoxville, only a small percentage of homes listed for sale have a lower estimated monthly payment compared to a year ago. This indicates that while home price growth has slowed, it remains positive, and lower monthly payments are limited to a few listings at the top end of the market. That wraps up our Knoxville Real Estate Report. Stay tuned for more updates on the local housing market. If you found this information valuable, be sure to like this video and subscribe to our channel for future updates. Thanks for watching!

Have questions? Need a market analysis on a particular part of town or home? Need help buying or selling a home in East Tennessee? Contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 today!