865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Almost Half of the Homes Sold in Farragut in March were CASH or At or Above List Price!

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Almost 1/2 (45%) of the homes sold so far in March in Farragut have been for cash or at/above their listing price (some both). We saw some sell for over $100K above their list price! I go over these sales in the video along with the breakdown of the sold prices and subdivisions. Lack of inventory and consistent demand is still pushing prices higher both in Farragut and most of East Tennessee. Don’t believe what you are hearing on the national news. For example, the national news reported that data through the end of February showed the first Year over Year reduction in the median sales price of homes nationally. However, in Knoxville, we saw a $30,000 increase in the median sales price compared to the end of February last year. Always remember, real estate is LOCAL and sometimes HYPER-LOCAL.

Have questions? Wondering what your home might be worth in today’s market? Contact the Troy Stavros TEAM with CornerStone Realty Associates today at 865-999-0925. We look forward to serving you!

Why Buying a Home in East Tennessee Is a Sound Decision

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If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment.

 

This year, nationally, we aren’t seeing home prices fall dramatically. Locally, here in East Tennessee, they are actually rising, not falling. As the year goes on, markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Nationally, experts project a return to a steadier rate of price appreciation in the years that follow.

 

Over 100 economists, investment strategists, and housing market analysts were polled by Pulsenomics in their latest quarterly Home Price Expectation Survey (HPES). The report indicates what they believe will happen with home prices nationally over the next five years. They believe after mild depreciation this year, home prices will return to more normal levels of appreciation through 2027.

 

The big takeaway is experts aren’t forecasting a drastic fall in home prices nationally, even though some markets will see home price appreciation (like us!) while others may depreciate. And when they look further out, they see steady price appreciation in the long run. That’s a great example of why homeownership wins over time.

 

What Does This Mean for You? Once you buy a home, price appreciation raises your home’s value, and that grows your household wealth. Here’s how a typical home’s value could change over the next few years, just using the expert price appreciation projections from the survey mentioned above.

 

In this example, if you bought a $400,000 home at the beginning of this year and factor in the forecast from the HPES, you could accumulate over $54,000 in household wealth over the next five years. So, if you’re wondering if buying a home is a sound decision, keep in mind what a strong wealth-building tool it is long term.

 

What’s the bottom line? According to the experts, while some areas may see slight depreciation this year, home prices are expected to grow over the next five years. And we know we are already seeing that appreciation here in East Tennessee. If you’re ready to become a homeowner, know that buying today can set you up for long-term success as home values (and your own net worth) are projected to grow. Let’s connect to begin the homebuying process today.

 

Contact the Troy Stavros TEAM with CornerStone Realty Associates today at 865-999-0925 with any questions or to discuss your goals of buying or selling a home in East Tennessee. We look forward to serving you!

Homes for sale in Farragut TN: 12813 Lebel Road

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Homes for sale in Farragut TN are hard to come by. Even more so in the sought-after Fox Run Subdivision. This beautiful home with a Stephen Fuller Southern Living floor plan is the one you’ve been waiting for. Gorgeous updated eat-in kitchen features vaulted ceilings, an abundance of granite counters for prep space and stainless steel appliances including a gas stove and farm sink. The main level also includes the owner’s suite with a wall of windows and access to the back deck. Owner’s bath has dual sinks, custom tub (easy replacement as it’s a standard-size opening) and walk-in shower. The main level also includes the formal dining room, office, and laundry room with utility sink. Upstairs you’ll find the 4 additional bedrooms and a bonus room. Outside you’ll love the privacy in the large backyard which includes a deck, patio, and gazebo with natural gas for a grill. During the warmer months you’ll enjoy Fox Run’s 2 pools, clubhouse, and play fields. For more information or to schedule a private showing contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 today.

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Homes for sale in Farragut TN : 405 Battle Front Trail

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One of a kind and originally built as a personal custom home for an architect. You will fall in love with not only all of the space but the amazing use of it in this conveniently located Farragut home on just under 1/2 acre. Need multiple main-level bedrooms? Check! Need home offices or hobby rooms? Check! Find 5 bedrooms and 3 full baths on the main level alone, one being the owner’s suite. Total of 6 possible bedrooms PLUS two large bonus rooms! The open floor plan has an updated custom kitchen opening directly to the family room, formal dining, and grilling porch. Two totally separate upstairs areas with bonus rooms. Screened porch overlooks a private backyard. Immaculately maintained. Farragut Schools. This is a must-see home. Be sure to watch the video tour and 360 Virtual tour.

CLICK HERE to see other homes for sale in Farragut, TN

CLICK BELOW TO WATCH VIDEO TOUR

360 VIRTUAL TOUR

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2023 National Housing Market Forecast

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2023 Housing Market Forecast [INFOGRAPHIC] | MyKCM

Some Highlights

  • From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation.
  • If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023.

Contact the Troy Stavros TEAM at CornerStone Realty Associates at 865-999-0925 today.

Homes for sale in Knoxville TN : 12901 Sanderling Lane

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Welcome to your own Secret Garden in Knoxville TN where time may slip away as you read a book on the private patio or screened-in porch or daydream watching and listening to the birds singing in the trees. This wonderfully maintained 4-bedroom plus office West Knoxville home is zoned for Knox County’s Top Rated Farragut Middle & Farragut High Schools and is close to Knoxville area lakes, Knoxville parks, restaurants, Knoxville golf courses and more in the heart of West Knoxville and the Northshore/Choto area. You’ll be greeted by flowering shrubs, perennial flowers, and annuals as you stroll up the front walkway. Enter the open foyer flanked by the dining room and home office/music parlor. Move forward to the family room with gas log fireplace open to the large eat-in kitchen. Hardwood floors on both levels (only 1 BR w/ carpet). Oversized owner’s suite. A fully fenced rear yard offers wooded privacy.

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