There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home in Knoxville is less affordable than it had been over the last ten years, we need to understand why and what that means. On a monthly basis, the National Association of Realtors (NAR), produces […]
4 Tips for Making a Competitive Offer on a Knoxville Home
So, you’ve been searching for that perfect house in Knoxville to call ‘home,’ and you’ve finally found it! The price is right, and in such a competitive market, you want to make sure you make a good offer so that you can guarantee that your dream of making this house yours comes true! Below are 4 steps […]
A Tale Of 2 Knoxville Real Estate Markets: Luxury vs. Starter/Trade-Up
Some Highlights: An emerging trend in Knoxville for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices! Inventory in Knoxville continues to rise in the luxury and premium home markets […]
2 Current Trends Helping To Keep Knoxville Housing Affordable
Two positive trends have started to emerge that impact the 2019 Spring Housing Market. Mortgage interest rates for a 30-year fixed rate loan have dropped to new lows, right as reports show that wages have increased at their highest rate in decades! These two factors have helped keep Knoxville housing affordable despite low supply of […]
How Fast Can You Save For A Downpayment? You Might Be Surprised!
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state. Using data from HUD, Census and Apartment List, we determined how […]
Owning Costs Less While Renters Paying Substantially More
In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased. “CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.” Why the difference between the costs of renting versus owning? It […]
Wondering Where All The Missing Houses Are? I Think We Found Them!
There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate. While […]
With Knoxville’s Low Inventory: Will Your Dream Home Need Some TLC?
According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value! Realtor.com’s Chief Economist, Danielle Hale, pointed […]
Top 5 Reasons Why Millennials Choose To Buy a Home [INFOGRAPHIC]
More and more Millennials in Knoxville are choosing homeownership. In fact, they have quickly become the #1 generation for purchasing homes, as far as volume. The following infographic explains why homeownership is so important to them: Ready to start the process of getting into your own home or ready to move to something different? Call me, […]
Buyer Demand Surging in Knoxville as Spring Market Begins
Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade. However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market […]
Are These Low Mortgage Interest Rates Here To Stay?
Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week! This is great news for anyone who is planning on buying a home in Knoxville this spring! Freddie Mac had this to […]
Today’s Homebuying Myths Slayed! [INFOGRAPHIC]
Some Highlights: The average down payment for first-time homebuyers is only 6%! Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate! 88% of property managers raised their rents in the last 12 months! The average credit score on approved loans continues to fall across many […]
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