Knoxville Home Sales Report: May 2018

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Deep Thoughts

  • It's a sellers market.  Remember when we thought that would never happen again? #neverforget
  • Inventory is still at record lows and sales are still at record high, making it a race to get to the next new listing. 
  • The Fed just raised rates by a quarter point and the rumor is that the THDA $15,000 money could run out at any moment. We will see in June and July if those two factors affect this crazy market. 
  • Prices are way up across the board once again, meaning a lot of these listings are selling for at or over list price.   
  • Appraisals are starting to catch up with the market value wise, which is giving agents a chance to breathe a little. Just a little. 
  • Yes, the market is hot. Yes, Knoxville is growing. And yes, bubbles have burst before. The question is: is this a bubble or is this solid ground. Stay tuned...

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: April 2018

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Deep Thoughts

  • Is this a seller's market or the new normal? I'm seriously starting to wonder. 
  • Inventory continues to be issue number 1. Only homes with major condition or location issues are not going into multiple offer as soon as they hit the market. 
  • Rates are remaining steady under 5%, meaning it is most likely still cheaper to buy than rent (if you can find a house to buy(. 
  • Prices are up across the board again, which is no surprise with buyers competing over almost every single listing.   
  • Appraisals are still not a lot of fun and are causing agents and sellers to practice holding their breath. 
  • Again, I say, is this the new normal? With more and more people moving to Knoxville and with our attractions and infrastructure growing, we may be getting some big city real estate problems. 

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: March 2018

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Deep Thoughts

  • It's still a strong sellers market. Don't worry, buyers, this too shall pass. 
  • I have 99 problems, and only 1 listing. Seriously, there are no listings and that's making a lot of problems.  
  • The Fed bumped rates, but are still pretty low. However, they are saying they are going to get more aggressive raising them as the year goes on. Like I said, buyers, this too, shall pass. 
  • Prices are up across the board: supply, demand. You know the drill. 
  • Appraisers haven't quite gotten the supply/demand memo, and even though the market will bear higher prices, some appraisers are saying no.
  • All I know at this point is to expect the unexpected and anything goes. Should be a pretty fun Spring!

 *All information provided by KAAR (Knoxville Area Association of Realtors). My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Welcome Our New Agent: Andrew Holloway

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Born and raised in Knoxville, Andrew can attest that there’s no place in the world quite like it. His love for Knoxville and experience working within some of life’s biggest moments make him an ideal fit for Knoxville’s real estate community.

With a background in special events and property management, Andrew has a unique sense of the importance of a real estate transaction. As an agent, Andrew prioritizes service to his clients, employing personal experience, knowledge, and compassion, so they can make the best decision for themselves and their loved ones. Andrew is best known for his positivity and professionalism.

In his free time, Andrew can be found perusing book stores, comparing one coffee shop with another (just to be certain of his favorites), refining what it means to be a cat dad, and winning dance off competitions - challenge him, if you dare!"

Knoxville Home Sales Report: February 2018

Knoxville Home Sales Report: February 2018

It's still cold outside, but the Spring Selling Season is upon us! Before we get excited about spring sales numbers, we still have to get in our Way Back Machine and take a look at what was happening in the greater Knoxville area in the recently released February 2018 home sales numbers from the Knoxville Area Association of Realtors (the kids call it KAAR). To the charts!

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Knoxville Home Sales Report: January 2018

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 These are average home sales prices from January 2017 over January 2018

These are average home sales prices from January 2017 over January 2018

Deep Thoughts

  • 2018 is starting off as a steady seller's market, but nothing is jumping off the charts just yet.   
  • Inventory was the story in 2017, but pricing may become the story of 2018, with the average sales price of a 3 BR home up 
  • Rates are rising slightly, but not alarmingly. Clam down. 
  • Multiple offers, backup offers, crazy offers: it's still the wild west out there, folks. 
  • Sellers still seem hesitant to jump in on this bizness, but I'm hoping that will change in the coming month, as Spring Selling Season is almost upon us. 
  • This is the first year in a while that I have ABSOLUTELY NO IDEA what to expect. Just stay tuned and let's enjoy the ride together, yes? Yes. 

 *All information provided by KAAR (Knoxville Area Association of Realtors). My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: Year End 2017

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2017 Year End Deep Thoughts

  • It was the best of times...well, at least for sellers.  
  • Inventory was the story in 2017, as there really wasn't much of it. 
  • Rates stayed low throughout 2017, but we're already seeing some bumps in them in 2018. 
  • Anything went in 2017: multiple offers, homes selling before they ever went on the market, sellers refusing to do repairs, buyers crying when they couldn't find anywhere to live. 
  • Lower price ranges benefited the most from this bonanza, but some micro-markets were on fire in 2017 (I'm looking at you downtown/Parkridge). 
  • 2017 was one of the craziest markets I've ever lived through. Don't take that as a challenge, 2018. 

 *All information provided by KAAR (Knoxville Area Association of Realtors). My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Welcome Our New Agent: Tracie Hartman

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Tracie moved to Knoxville in 1996 for the outdoor life and quickly made Knoxville her home.  She graduated UT with her Masters in Education in 1999 then ran off to PeaceCorps.  Because  she has lived all over Knoxville, Tracie knows her way around town, and she loves exploring Knoxville's various neighborhoods while sharing her expertise.  She moved to the Parkridge neighborhood in 2004, where she currently resides with her son, dog, and four chickens.

Tracie's main focus is customer service.  She finds that her greatest talent is connecting people with their goals, then assisting them in attaining those goals.

When she isn't immersed in real estate, Tracie enjoys yoga, walking in the woods, camping, traveling, gardening, and cooking.

Knoxville Home Sales Report: September & October 2017

Knoxville Home Sales Report: September & October 2017

It's beginning to look a lot like...Christmas? How did that happen? Well, it's almost the end of the year, but we still have a lot of 2017 home sales news coming up. Today, let's get in the Way Back Machine and look at the September and October numbers while we wait for the November numbers to come out. To the charts!

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Welcome Our New Agent: Rachel Ray Honeycutt

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Rachel Ray Honeycutt grew up in a 130 year old boarding house that her parents intended on renovating, but never completed. From the 18 years of living in those old bones, she grew to love houses with history and unique qualities.  She is addicted to search engines and finding a deal;: whether it be searching for that rare Mid-Century sofa on Craigslist, or finding that absolutely perfect home for her buyer, Rachel searches with fervor and dedication--she loves finding that property that folks think does not exist.

Rachel is a UT graduate in both Philosophy and English, and loves literature, creative writing, poetry, and music. Rachel has two sweet children, Ruby and Sam and is married to a local jazz musician, Buddy Honeycutt. She loves the outdoors and worked for a Wilderness Therapy program called Second Nature Blue Ridge in the Georgia mountains after graduating from UT, where she helped at-risk teens navigate through their therapy using the tools of the wilderness, GPS, and primitive bowdrilling for fire. She loves exploring, cycling, great food, cooking, creeks and rivers, and travel (and Barbeque potato chips).  She is interested in real estate investing and how investment tools and new website start-ups like airbnb can be tools for financial freedom for the younger generations and for folks seeking financial independence.

Rachel loves getting to know her clients; she loves getting to work with people and develop meaningful relationships--helping them to buy an item of value and sell things that truly have worth, enabling them to achieve their dreams--she knows that investing in a home can be a great path for future financial success in life.

Rachel loves fixer-uppers and has experience closing property with renovation loans, both professionally and personally on her own home.  She loves helping clients determine what the best option for their personal situation in regard to buying a home or fixer-upper.  

She is an avid blogger and loves to write.  You can visit her blog at www.rachelhomeexpert.com Rachel is always accepting new clients, to buy or sell and loves helping folks navigate the home sales process.  Call her today! 865-888-0344

 

Welcome Our New Agent: Scott Lee

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Scott originally moved to East Tennessee to continue his career in television. Here he found himself working on a new cable television program where “two sets of neighbors redecorated one room in each other's home.” The program would become a cultural icon and Scott’s career would take him to the leader in lifestyle television, Scripps Networks Interactive (HGTV, DIY, Travel Channel, FOOD Network).

After fifteen years producing and editing programs about people buying, selling, renovating, and flipping properties Scott decided it was time to be a part of the fun. Now, with a handful of investment properties, numerous real estate deals conducted, and a penchant for finding a good deal, Scott is lending this enthusiasm to his clients.

Scott’s motto to “deliver more than expected” drives everything he does. When not searching tirelessly for the next great real estate deal, Scott enjoys playing golf, soccer and riding his vintage motorcycle. But mostly he can be found spending time with his wife, three kids, and Jack Russell Terrier, Molly, in the woods, at the zoo, or on their boat.

 

Knoxville Home Sales Report: July & August 2017

Knoxville Home Sales Report: July & August 2017

I literally can't even, you guys. First, it's almost August and it's 90 degrees outside (more or less). Second, these home sales numbers from the Knoxville Area Association of Realtors are INSANE IN THE MEMBRANE. Yes, they literally make me feel as though I do not, in fact, I have a brain. They are that hard to fathom. Don't believe me? Check the charts:

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Knoxville Home Sales Report: June 2017

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Deep Thoughts

  • Sales were literally almost off the chart in June. I'm going to need a bigger chart. 
  • Inventory was only slightly down month over month and active listings are flat, so homeowners definitely started listing their homes again in June, which is a good thing. 
  • Rates are still under 4% and THDA money is still available in several Knoxville area zip codes (37914, 37917, 37912, 37921, among others).
  • Multiple offers are the new black, and they are causing prices to go up.
  • Speaking of prices, they are way up all the way across the board, sometimes astonishingly so. I don't want to be "that agent," but with sales and prices skyrocketing up, I can't help but think that what comes up must go down...
  • Am I the only one on the edge of my seat about how the second half of this year is going to pan out? Will sales and prices keep going up? Will rates stay down? Will we finally find out who shot J.R.? Stay tuned! 

All information provided by KAAR (Knoxville Area Association of Realtors). My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Welcome Our New Agent: Jim Bristow

After spending more than a decade delivering and managing IT and Healthcare services in corporate America, Jim felt the urge to take his talents local and act on a long time desire to pursue a career in Real Estate.  As a client facing professional, Jim’s philosophy to customer service excellence blends subject matter knowledge with deliberate communication, hard work and precise execution.

Originally from coastal Virginia, Jim holds a Bachelor's degree in History and a Master’s in Business Administration.  After moving around the Southeast completing their respective educations and pursuing career opportunities, Jim and his wife settled in Knoxville where she is tenured faculty at the University of Tennessee.  They live in Sequoyah Hills with their two high maintenance, but well loved rescue dogs.  Outside of his passion for Real Estate, History and things of old, Jim likes to sail, ponder the next DIY project for his home and tries real hard to avoid those foods that doctors say are bad for us.

Knoxville Home Sales Report: May 2017

It's officially summer and the home sales are hot! That's right, the May Homes Sales Report numbers from the Knoxville Area Association of Realtors (my people call it KAAR) are here and the lines on those charts are interesting indeed. Want to see how the greater Knoxville area is besting national real estate trends? Let's go!

What's Hot

  • Sales : Holy dotted line, Batman! Those sales are busting out of the chart!
  • Prices: Up, up, and away! Prices are still on the rise. 
  • Appraisals: Keep the nerve pills coming: prices are rising faster than is normal and appraisers aren't always having it. 
  • Rates: Still under 5% for now, but the Fed is gonna do what the Fed is gonna do. 
  • THDA Grant Money: Still out there, still waiting for you first time buyers. 
  • Impulse Buying: Get it before it's gone.  

What's Not

  • Inventory: Again, keep the nerve pills coming. We are currently under a 4 month supply of housing stock. 
  • Affordable housing stock: OK, maybe I should switch to chamomile tea. It's hard to find, y'all. 
  • Overpricing: It's happening and it's not pretty. 
  • Waiting to list/make an offer: The time is now. Strike while the iron is hot!

Deep Thoughts

  • National sales may be up 1.1% month over month, but sales in the Greater Knoxville area were up 23% (twenty three percent). Talk about holy guacamole, that's a lot of avocados!
  • However...inventory in the greater Knoxville area was down 19% month over month vs. the national average of 8.4%. Again I say, sales can't keep going up with inventory going down even faster. Oh, June, you will be interesting, won't you?
  • Speaking of low inventory... Yes, it's a seller's market. Yes, home prices are up. No, homes will STILL not sell at irrational prices because of those factors. Trust me. There are homes sitting on the market because of pricing. 
  • We're in uncharted waters, you guys. And from the looks of these charts, we might need a bigger boat by July. 

All information provided by KAAR (Knoxville Area Association of Realtors). My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Welcome Our New Agent: Matthew Lawson

Matthew moved to Knoxville in 2005 to launch an equestrian training program and fell in love with the area and the people. His experience combined, with the resources of Trotta Montgomery will make buying or selling your home a great experience.  

Matthew is an avid outdoors-man and can often be found at the farmer’s market, Mead’s Quarry sup boarding with his dogs, supporting local events, or foxhunting with Tennessee Valley Hunt.

As an equestrian professional, his specialty has been finding his clients the perfect horse. Now, as a real estate agent, he helps his client find the perfect home. Matthew knows how hard relocation can be and his decade worth of local knowledge will serve as an asset to buyer’s and sellers. Matthew’s specialty is equestrian real estate, but he also has a passion for fine architecture and unique residences. 

Knoxville Home Sales Report: April 2017

Knoxville Home Sales Report: April 2017

We're almost halfway through the year, but the April home sales numbers are just now out for us to take a gander at, and boy howdy, do they tell a mighty interesting story! Let's all gather round Grandma Trotta while she tells the tale of the KAAR Greater Knoxville Area home sales numbers from April 2017!

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Welcome Our New Agent: Chris Garvey

Chris and his wife chose to relocate to East Tennessee from San Diego in 2008 because of its four distinct seasons, numerous recreational opportunities, and the overall quality of life. 

With a B.A. in Psychology from UCLA as well as a teaching credential and certificates in cabinetry and furniture construction, Chris has worked as a university administrator, elementary school teacher, cabinet maker, and a stay at home dad before becoming a Realtor. Working on his own home and rental property has given him a greater appreciation of those details that can make a house a home, give it character, and make it unique. He believes that while houses are bought and sold, homes are created through vision and hard work. Chris is dedicated to helping his clients meet their real estate needs, whatever they may be.

When not working for you he can be found remodeling his own properties, coaching his sons in soccer, and enjoying life here in East Tennessee.

Welcome Our New Agent: Laurel Strozier

Laurel was born and raised in Knoxville.  She has lived, worked, and played in many of its unique neighborhoods and green spaces, making her an excellent choice for helping you plant your roots in the area or to attract buyers for your home.  After graduating from Maryville College with a B.A. in International Studies, she worked as an English Professor at the National Agricultural University in Honduras for two years.  Since returning to Knoxville, she has worked as a Spanish medical interpreter in early childhood development, obstetrics, and dentistry.  After buying her first house, Laurel developed a passion for real estate and now owns several rental properties.  Her goal is to help Knoxvillians achieve their homeownership dreams, especially Spanish speakers.

Laurel enjoys reading, playing tennis, cuddling with her two cats, and has a seriously impressive house plant collection.

Knoxville Home Sales Report: March 2017

Knoxville Home Sales Report: March 2017

It's only April, but it's hotter than July outside...maybe the Knoxville housing market is heating things up? Yep, these numbers are pretty spicy, so grab some sunscreen and protective gear as we break down the greater Knoxville area home sale report numbers from the Knoxville Association of Reators (all the cool kids call them KAAR). To the charts!

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