Troy Stavros, Author at 865 Real Estate

Home Value Appreciation Is Strong: It Might Be Time to Sell

August 9, 2019 By Troy Stavros

There’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling your home in Knoxville now is likely to drive the greatest return on your largest investment.

Home values in Knoxville have been appreciating for several years now, growing at a strong, steady, and impressive pace. In fact, the average annual appreciation rate since 2012 has nearly doubled the average rate from the more normal market of the 1990s (think: pre-bubble).

Appreciation, however, is projected to shift back toward normal, meaning home prices in Knoxville will likely keep climbing over the next few years, but they are not projected to continue to increase at such a high rate.

Here’s What That Means for Homeowners:

As noted in the latest Home Price Expectation Survey (HPES) powered by Pulsenomics, experts forecast an average annual appreciation rate closer to 3.2% over the next five years, which is more in line with a historically normal market (3.6%). The good news is, there’s still time to take advantage of the current strength of home prices by selling your house now.

Looking at the projections as they stand today, 2019 is slated to drive the strongest appreciation as compared to the upcoming few years. With average home prices still on the rise, the pace at which they are predicted to continue increasing will likely soften by 2020.

Bottom Line

If you’re thinking about selling your house, now is a great time to make your move. Don’t get stuck waiting until projected home price appreciation rates potentially re-accelerate again in 2023. You’ll likely earn the greatest return on your investment by selling now before the prices start to normalize next year.

Have questions or are you ready to get your home on the market to take advantage of the increased value? Call me, Troy Stavros today at 865-999-0925 and let’s set up a time to talk!

What could be the Impact of the Next Economic Slowdown on Housing?

August 2, 2019 By Troy Stavros

How to Judge the Impact of the Next Economic Slowdown on Housing | MyKCM

We’ve experienced economic growth for almost a decade, which is the longest recovery in the nation’s history. Experts know a recession can’t be too far off, but when will this economic slowdown actually occur?

Pulsenomics just released a special report revealing that nearly 6 out of 10 of the 90 economists, investment strategists, and market analysts surveyed believe the next recession will occur by the end of next year. Here’s the breakdown:

9% believe a recession will occur this year
50% believe it will occur in 2020
35% believe it will occur in 2021
6% believe it will occur after 2021

When asked what would trigger the next recession, the three most common responses by those surveyed were:

Trade Policy
Stock Market Correction
Geopolitical Crisis

How might the recession impact real estate?

Challenges in the housing and mortgage markets were major triggers of the last recession. However, a housing slowdown ranked #9 on the list of potential triggers for the next recession, behind such possibilities as fiscal policy and political gridlock.

As far as the impact the recession may have on home values, the experts surveyed indicated home prices would continue to appreciate over the next few years. They called for a 4.1% appreciation rate this year, 2.8% in 2020, and 2.5% in 2021.

Bottom Line

On the same day, in the same survey, the same experts who forecasted a recession happening within the next 18 months also claimed housing will not be the trigger, and home values will still continue to appreciate.

Have questions? Contact me, Troy Stavros with CornerStone Realty Associates and let’s setup a time to talk!

3 Expert Insights On Inventory In The Current Housing Market

August 1, 2019 By Troy Stavros

3 Expert Insights On Inventory In The Current Market | MyKCM

The current housing landscape presents greater home values, low-interest rates, and high buyer demand for mid to lower priced homes. All of these factors point to the strong market forecasted to continue throughout the rest of the year.

There is, however, one thing that may cause the industry to tap the brakes: an overall lack of housing inventory. Buyer demand naturally increases during the summer months, but the current supply is not keeping up.

Here is a look at what a few industry experts have to say:

Lawrence Yun, Chief Economist at National Association of Realtors

“Imbalance persists for mid-to-lower priced homes with solid demand and insufficient supply, which is consequently pushing up home prices.”

Mark Fleming, Chief Economist of First American

“Market conditions are ripe for increasing home sales with one glaring exception. The supply of homes for sale remains tight, keeping existing home sales below potential.”

Danielle Hale, Chief Economist of Realtor.com

“We’re not seeing as many new listings come up on the market…It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we’ve ever seen.”

Bottom Line

If you’re thinking of selling, now may be the time. Demand for your house will be strong during a period when there is very little competition, ideally leading to a quick sale and a great return on your investment.

Ready to get your home on the market? Contact me, Troy Stavros with CornerStone Realty Associates today at 865-999-0925 and let’s get the process started!

How to Increase Your Home Equity Over the Next 5 Years

August 1, 2019 By Troy Stavros

How to Increase Your Equity Over the Next 5 Years | MyKCM

Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers.

Here are the results from the Q2 2019 Survey:

Home values will appreciate by 4.1% in 2019
The average annual appreciation will be 3.2% over the next 5 years
The cumulative appreciation will be 16.8% by 2023
Even experts representing the most “bearish” quartile of the survey project a cumulative appreciation of over 6.7% by 2023

What does this mean for you?

A substantial portion of family wealth comes from home equity. As the value of a family’s home in Knoxville (an asset) increases, so does their equity.

Using the projections from the HPES, here is a look at the potential equity a family could earn over the next five years if they purchased a $250,000 home in January of 2019:

Based on gains in home equity, their family wealth could increase by $42,000 over that five-year period.

Bottom Line

If you don’t yet own a home, now may be the time to purchase. Owning or moving up to your dream home could allow you to ride the increase in equity of a growing asset. Ready to get started? Contact me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 today!

Home Price Expectation survey – Every quarter, Pulsenomics surveys a distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.

Home Prices Up 5.05% Across the Country [INFOGRAPHIC]

July 30, 2019 By Troy Stavros

Some Highlights:

The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
In the report, home prices are compared both regionally and by state.
Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!

Interested in finding out what prices have done in your area or even your specific home? Contact me, Troy Stavros with CornerStone Realty Associates today and let me send you personalized market analysis so you know where you stand.

SOLD! 213 Mountain Road in Clinton, TN

July 25, 2019 By Troy Stavros

SOLD! All kinds of curb appeal! Sit on the covered front porch and look out over 100 acres across the street. Sit on the covered back porch and look out over your shaded back yard with mature trees, a barn and another storage building all backing up to over 50 acres of privacy. This dollhouse features 2 bedrooms and one full bath, eat-in kitchen, large laundry utility room, and an oversized one-car garage. The location is not only private with a country feel, but less than 3 miles from Interstate 75 making for a quick commute! Separate parking could accommodate an RV or boat trailer (the garage is also extra deep and could store a boat as well.) So, so much for such an amazing price of ONLY $110,000! Don’t wait on this one, it will be gone before you know it!

Contact me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 to schedule your private showing today!

213 Mountain Rd, Clinton, TN 37716

$105,000

Virtual Tour

https://youtu.be/gTTfL6pCJi4

Property Type: Single Family Bedrooms: 2 Square Footage: 950 Lot Size (sq. ft.): 18,295 Status: Closed

Current Price: $105,000 List Date: 7/31/2019 Last Modified: 12/21/2023

Overview

Description

All kinds of curb appeal! Sit on the covered front porch and look out over 100 acres across the street. Sit on the covered back porch and look out over your shaded back yard with mature trees, a barn and another storage building all backing up to over 50 acres of privacy. This doll house features 2 bedrooms and one full bath, eat-in kitchen, large laundry utility room, and an oversized one car garage. The location is not only private with a country feel, but less than 3 miles from Interstate 75 making for a quick commute! Separate parking could accommodate an RV or boat trailer (the garage is also extra deep and could store a boat as well.) So, so much for such an amazing price. Don't wait on this one, it will be gone before you know it!

Listing Details MLS# 1088680

Location Tax Legal Info

House #: 213
Street Name: Mountain
St Suffix: Rd
State/Province: TN
Zip Code: 37716
PIN #: 066 004.00

Contract Info

Auction Y/N: No
Listing Price: 110000

General Property Description

Type: Ranch
Acres: 0.42
Site Built: Yes
Restrictions: No
SqFt - Total (Aprox): 950
SqFt - Main Lvl: 950
# Bedrooms: 2
Baths - Full: Yes
# of Rooms: 5
Fireplace: No
Property Status: N/A
HOA: No
Year Built: 1950
Bonus Room: No
Extra Storage: Yes
SqFt - Down Lvl: 0
SqFt - 2nd Flr Lvl: 0
SqFt - 3rd Flr Lvl: 0
# Fireplace: 0
Basement: No

Status Change Info

Status Change Date: 2019-08-29
Under Contract Date: 2019-08-02
Sold Date: 2019-08-27

Sewer

Sewer Info: Septic

Water

Water Info: Utility

More Information

Location, Tax & Legal Info

Area: Anderson County - 30
Property Sub-Type: Residential
Community: Clinton
City/County Code: County
Total Tax: 432.5

Remarks & Misc

Directions: HWY 61 (N Charles G Sievers Blvd) NORTH from Downtown Clinton toward I75, to RIGHT then immediate LEFT on Sinking Springs Road, the RIGHT on Brushy Valley Road. Stay LEFT on Brushy Valley Road at fork then remain STRAIGHT as it turns into Mountain Road. Home on LEFT shortly after white church on Left. SIGN IN YARD.
Public Remarks: All kinds of curb appeal! Sit on the covered front porch and look out over 100 acres across the street. Sit on the covered back porch and look out over your shaded back yard with mature trees, a barn and another storage building all backing up to over 50 acres of privacy. This doll house features 2 bedrooms and one full bath, eat-in kitchen, large laundry utility room, and an oversized one car garage. The location is not only private with a country feel, but less than 3 miles from Interstate 75 making for a quick commute! Separate parking could accommodate an RV or boat trailer (the garage is also extra deep and could store a boat as well.) So, so much for such an amazing price. Don't wait on this one, it will be gone before you know it!

Fencing

Chain: Yes
Fenced Yard: Yes

Atchd/Dtchd Type

Detached: Yes

Style

Traditional: Yes

Construction

Frame: Yes

Siding

Brick: Yes
Vinyl: Yes

Fireplace

None: Yes

Cooling

Central Cooling: Yes

Floors

Hardwood: Yes
Laminate: Yes

Garage/Parking

Garage Spaces: 1
Attached: Yes
Garage Door Opener: Yes
Main Level: Yes
RV Parking: Yes

Basement

Crawl Space: Yes

Lot Description

Level: Yes

Fuel

Electric: Yes

View

Country Setting: Yes

Heat

Central: Yes

Dining Area

Eat-in Kitchen: Yes

Appliances

Dishwasher: Yes
Microwave: Yes
Range: Yes
Self Cleaning Oven: Yes
Smoke Detector: Yes

Other Rooms

Bedroom Main Level: Yes
Extra Storage: Yes
Family Room: Yes
Laundry/Utility: Yes
Mstr Bdrm Main Level: Yes
Split Bedroom: Yes

Exterior Features

Patio: Yes
Porch - Covered: Yes

Misc Features

Internet Available: Yes
Washer/Dryer Connect: Yes

Outbuildings

Barn: Yes
Storage Shed: Yes

New Financing

Cash: Yes
Conventional: Yes
FHA: Yes
New Loan: Yes
USDA/Rural: Yes
VA Loan: Yes

Showing

See Agent Instructns: Yes

Property Features

Style: Traditional Construction: Frame Siding: Brick; Vinyl Basement: Crawl Space Lot Description: Level View: Country Setting Fireplace: None Floors: Hardwood; Laminate Fuel: Electric Heat: Central Cooling: Central Cooling Appliances: Dishwasher; Microwave; Range; Self Cleaning Oven; Smoke Detector Other Rooms: Bedroom Main Level; Extra Storage; Family Room; Laundry/Utility; Mstr Bdrm Main Level; Split Bedroom Misc Features: Internet Available; Washer/Dryer Connect Exterior Features: Patio; Porch - Covered Fencing: Chain; Fenced Yard Outbuildings: Barn; Storage Shed Dining Area: Eat-in Kitchen Showing: See Agent Instructns New Financing: Cash; Conventional; FHA; New Loan; USDA/Rural; VA Loan

IDX

Listing Office: Doorbell Real Estate

Office Phone: 888-388-3667

Last Updated: December - 21 - 2023

The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.