865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Is Now A Good Time To Sell A Home in East Tennessee?

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Looking to sell your home in Knoxville or East Tennessee?

Despite a slowdown in the housing market from a year ago, it’s still a sellers’ market due to the low supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), there is currently only a 2.6-month supply of homes available for sale, which is historically low.

The situation is even more dramatic in East Tennessee, Knoxville, Farragut, and the surrounding areas, where there is only a 1.77-month supply of inventory through the end of March, and Knox County has less than one month worth of inventory. With so few homes available, buyers are facing increased competition, which is keeping upward pressure on prices. As a result, sellers are in a prime position to negotiate deals on their ideal terms.

However, even in this competitive market, there are still many buyers who are ready, willing, and able to purchase a home. So, if you’re thinking about selling your home in Knoxville or East Tennessee, now is an ideal time to do it. By listing your house in good condition and at the right price, you can attract attention from competitive buyers.

Overall, today’s sellers’ market holds great opportunities for homeowners looking to make a move in Knoxville and East Tennessee. If you’re ready to sell your home, let’s connect to discuss how to jumpstart the selling process and maximize your exposure to serious buyers.

Have questions? Wondering what your home might be worth in today’s competitive market? Want to talk about selling your home or buying a new one? Contact the Troy Stavros TEAM today at CornerStone Realty Associates at 865-999-0925. We look forward to serving you!

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

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Appreciation Is Strong: It Might Be Time to Sell | MyKCM

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 Is Strong: It Might Be Time to Sell | MyKCM

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.Appreciation Is Strong: It Might Be Time to Sell | MyKCM

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!

4 Tips To Sell Your Home Faster

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4 Tips to Sell Your Home Faster | MyKCM

Since June of last year, we have seen an increase in the inventory of homes for sale month per month. Every spring and summer, the inventory increases because people want to sell their home. For those with children, they may want to be in their new home for the beginning of the school year.

If you are one of those sellers, you may find these 4 tips helpful in getting your home sold more quickly.

1. Make buyers feel at home

Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make them feel like they belong in this house! According to the Profile of Home Staging by the National Association of Realtors,

“83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house spend less time on the market, but the same report mentioned that,

“One-quarter of buyers’ agents said that staging a home increased the dollar value offered between 1 – 5%, compared to other similar homes on the market that were not staged.”

2. Keep it organized

Since you took the time to declutter, keep it organized! Before the buyers show up, pick up toys, make the bed, and put away clean dishes. It is also a good idea to put out some cookies fresh from the oven or a scented candle. Buyers will remember the smell of your home! According to the same report, the kitchen is one of the most important rooms to stage in order to attract more buyers.

3. Give buyers full access

One of the top four elements when selling your home is access! If your home is available anytime, that opens up more opportunity to find a buyer right away. Some buyers, especially those relocating, don’t have much time available. If they cannot get into the house, they will move on to the next one.

4. Price it right

As we mentioned at the beginning, more inventory coming into the market guarantees there will be some competition. You want to make sure your home is noticed. The key to selling your house in 2019 is ensuring it is Priced to Sell Immediately (PTSI). That way, your home will be seen by the greatest amount of buyers and will sell at a great price before more competition comes to market!

Bottom Line

If you want to sell your house in the least amount of time at the best price with as little hassle as possible, a local real estate professional is a useful guide.

Have questions, or ready to get your home on the market? Contact me, Troy Stavros with CornerStone Realty Associates today at 865-999-0925 to set up a time to talk!

Selling A Home During The Holidays..Naughty or Nice?

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Selling a home during the holidays. Is is naughty or nice? Just about this time every  year, scores of homeowners decide to wait until after the holidays to put their home on the market. Other homeowners, who currently have their homes on the market, decide to take them off the market until after the holidays. Here are six great reasons why that’s not a good idea:

  1. Relocation buyers! They are still out there and their companies are not concerned that it is holiday time. Plus if the buyers have kids, they’ll want them in school after the holidays.
  2. Home buyers that are looking for a home during the holidays are serious buyers and are ready to buy.
  3. You can restrict the showings on your home to the times you want it shown, so you remain in control of your schedule.
  4. Homes show better when decorated for the holidays.
  5. There is less competition for you as a seller during the holidays. Let’s take a look at listing inventory as compared to the same time last year: Inventory-KCM
  6. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will make a comeback in 2016. This will lessen the demand for your house.

What does this mean for you?

Waiting until after the holidays to sell your home probably doesn’t make sense.

Have questions or want to find out what your home is worth in today’s market? Call or text me, Troy Stavros with Gables & Gates, REALTORS at 865-599-9444.

Selling a home in Knoxville? Here is how to get it ready for pictures.

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Knoxville real estate photographyOne of the most important things you can do when selling a home in Knoxville is to have professional photography.  In a study done by Redfin Corporation, it was discovered that homes marketed with high quality photos sold for more money!  And in many cases significantly more. According to the Wall Street Journal, the study showed that homes with high quality photos gained anywhere from $1000 to $100,000 more at closing!  Given this information, it’s pretty shocking that only a small percentage of Knoxville homes are marketed with high quality photos.

Knoxville real estate photos

The Redfin study also offered these interesting points:  They also found that listings shot with DSLR cameras (the kind used by the 865 Real Estate team):

  • Receive an average of 61% more views than their peers across all price tiers. (More views = More potential buyers)
  • Have a 47% higher asking price per square foot.
  • Have an increased likelihood of selling for homes priced above $300,000.

The 865 Real Estate team has known for some time what this Redfin study has shown, which is why we include high quality pictures of every Knoxville home for sale that the 865 Real Estate team markets.   So what do we need you, as a home seller to do?  Here are some pointers for getting your Knoxville home ready for our high quality photographs.

How to prepare your Knoxville home for sale to be photographed:

  • Have the lawn mowed, leaves raked, bushes trimmed.
  • When in season, flowers can add a gorgeous pop of color.
  • Remove all vehicles from the driveway and front of the house.
  • Make sure all garbage cans, hoses, garden tools etc. are put away.
  • If you will be doing any twilight photos, be sure to check all outdoor lights and change dim or broken bulbs.
  • Remove any “cute” yard decorations the owner may have put out.
  • Remove any “clutter” inside the home, and put away toys, clothing, dishes, towels, etc.
  • Make the beds.
  • The counter tops in the bathrooms and kitchen should be as clean and as empty as possible.
  • Make sure the kitchen sink is empty and all dishes are put away.
  • Hide the trash cans.
  • Hide personal photos.
  • Replace any light bulbs that are out.
  • Remove any decorations or magnets that are on the fridge.
  • Before the photographer arrives, turn on all lights and open all blinds in rooms to be photographed.