The FHFA (Federal Housing Finance Agency) recently released their 2nd quarter numbers of the largest 100 metropolitan statistical areas, and Knoxville hit the top 10 list for highest home price increases since this time last year. Per the report, homes in Knoxville are selling 7.6% higher than August 2018 and 3.3% higher than the last quarter. The city […]
How to Increase Your Home Equity Over the Next 5 Years
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 […]
The Cost of Waiting To Buy: Interest Rates Edition [INFOGRAPHIC]
Some Highlights: Interest rates are projected to increase steadily heading into 2020. The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be. Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home! Ready […]
The Truth about Housing Affordability in Knoxville
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 […]
UNDER CONTRACT! Cute & Convenient in Clinton, TN – Only $115,000!
UNDER CONTRACT IN 1 DAY WITH MULTIPLE OFFERS! Home for sale located at 301 Edgewood Avenue, Clinton, TN 37716. Offered at $115,000! The super convenient location is walking distance to downtown Clinton. This dollhouse features three bedrooms, one bath, hardwood floors, an updated kitchen with stainless steel appliances, and a flat, fenced backyard with two […]
What is Really Happening with Knoxville Home Prices?
Home values have softened over the last twelve months. We are no longer seeing 6-7% annual appreciation levels for the national housing market. The current numbers are closer to 4%. Some have suggested that year-over-year appreciation levels could fall to 3% or less this year. However, a stronger-than-expected economy and a good spring housing market […]
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 […]
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 […]
Why Now Is A Good Time To Sell A Home In Knoxville
Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the […]
SOLD! SOUTH KNOXVILLE! 4900 Creek Bank Drive in Woodson Trail
SOLD IN 1 DAY WITH MULTIPLE OFFERS! Immaculate South Knoxville home just minutes from Downtown and UT located at 4900 Creek Bank Drive, Knoxville, TN 37920 in the Woodson Trail Subdivision. Perfect for commuters to both Knoxville and Maryville. The inviting front porch is just one element of the great curb appeal. Save on your […]
What Credit Score Do You Need To Buy A Home in Knoxville?
There are many misconceptions about the credit score needed to buy a house in Knoxville. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed! Only 25% of the Americans have a FICO® Score between 740 and 800. Here is […]
4 Questions To Ask Before Selling Your Home in Knoxville
Are you planning on selling your house in Knoxville in 2019? You will no doubt have more than 4 questions on your mind, but knowing the answers to these will get you started with confidence! Let’s get together to answer these and any other questions you may have! Contact me, Troy Stavros with CornerStone […]
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