Knoxville Home Sales Report: February 2019

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DEEP THOUGHTS:

2019 is definitely still a seller’s market so far. How long will it last? Let’s break it down:

1. Inventory is still super low and the good houses and deals are going super fast.
2. Closings are still in line with 2018 and 2009, meaning they are very strong.
3. Active listings were flat, but still very historically low.
4. Prices are WAY up. How up? In 2018, the average price of a 2 BR or smaller home was 124,770 and in 2019 the average price was 141,254 . Wowza!
5. I repeat: interest rates are holding steady and down payment assistance programs are still available.
6. The sun is finally out and and so are the buyers. Sellers, start your listing engines!

 *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: 2018 Recap

DEEP THOUGHTS:

One thing 2018 was great for was real estate. Let’s chat about it.

1. Inventory remained historically low pretty much all year.
2. Closings were slightly historically higher than 2017, but a lot more seasonally adjusted.  
3. Prices were up across the board from 2017
4. Interest rates went up slightly, but it didn’t appear to impact home sales.
5. All in all, 2018 was almost a carbon copy of 2017. I expect a lot more upheaval in 2019, especially depending on the length of the government shutdown and what the Fed decides to do with interest rates.

 *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. 

Welcome our New Agent: Nicole Robinette

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The oldest of seven children, Nicole was born and raised in Bristol, TN. She has lived all over Tennessee in everything from a 1910 Bungalow to a 1925 Mediterranean, so she knows a lot about real estate and home styles. After earning a B.A. in Music in New York and an M.A. in film and video from the University of Memphis, Before following her dreams to sell real estate, Nicole worked in television broadcasting, non-profit and higher education, and customer service. She loves helping seller and buyers and also enjoys selling vacant land as well as houses.

When she’s not hard at work in the real estate trenches, Nicole is at home in North Knoxville with her spouse, 2 dogs, 1 cat, and 2 fish. She also plays keyboard and sings in both “Mojo Tweed” (a blues band) and is a keyboardist, singer and writer in the musical duo “News at Eleven.”

Welcome our New Agent, Laura Holland!

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You may be asking, why is a middle school librarian from Elizabethton, Tennessee so passionate about Knoxville Real Estate? The answer is simple but comes in a few different parts First, while Laura will always call Elizabethton her home, Knoxville is where she feels at home. She has been a native for going on nine years, and Good Ole’ Rocky Top is where she plans to stay. Secondly, she LOVES houses: old (especially) but new, too. Growing up, she always had a question about some house on some street and expected some answer! She is a librarian and loves teaching research and technology to students; however, her passion for houses has never gone away.  In 2015, she embarked on her first renovation project (that took a while longer than she would ever admit on record). This fixer upper experience it made her love houses and made her appreciate Knoxville even more. So after she finished her Doctorate Degree in Curriculum and Instruction, she immediately began taking the steps to become a real estate agent. The rest...well it’s history!

Welcome Our New Agent: Ryan Atkins

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A graduate of UT and long-time Knoxville resident, Ryan Atkins loves Tennessee. You can find him floating the river in the summer and snowboarding in the winter. As an artist, he shares his paintings throughout the Knoxville community and you can see some of his works hanging in Tupelo Honey from time-to-time, or at one of his pop-up shows that happen quarterly around the city.

In his past life, Ryan’s hunger for travel and adventure landed him in Ukraine teaching English and skydiving; got him lost on the streets of Paris; took him swimming with Sea Turtles in Barbados; tasted him the best beer in Belgium; drove him excessively fast on the German Autobahn; and floated him through the canals of Amsterdam.

When he wasn’t traveling and going to school, he was flipping houses with his family, or working at apartment complexes, which is where his curiosity and love for real estate began. Then life led him down a different road and he began a career in advertising where he learned many business and marketing skills that helped him be a top performer in his field.

Now older and more settled, he and his fiance, Ali, call Holston Hills home, where they recently bought a house. After switching careers from Advertising to Real Estate, his hope is to bring others into the vibrant communities of Knoxville so they can experience the closeness and lifestyle of the city while also experiencing the outdoor life that the oddly-rural features of the city accommodate.

Welcome Our New Agent: Daphne Hill

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Daphne Hill, Affiliate Broker


865-770-1884
daphne@trottamontgomery.com

Daphne is currently enjoying a Tennessee homecoming. Having grown up in the Norris/Lake City area, and after a living a number of years out of state, she is thrilled to call East Tennessee home again.

With a B.F.A. in Drawing from UT Knoxville, and an M.F.A. in Painting from Claremont Graduate University in Claremont, CA, Daphne’s background is in art and art education. She has taught painting and drawing to students from kindergarten to college and beyond. She has taught a number of special needs children and adults, and found her interactions with these students incredibly fulfilling. Daphne also taught inmates in a men’s maximum security prison in San Diego. This was a profoundly rewarding experience, and one that has helped shape her perception of people and the power of art, communication, and connection.

Daphne brings creativity, integrity, and heart to everything she does. She is committed to making your home buying or selling experience as smooth and positive as possible.

Daphne lives in her hometown of Norris with her husband, dog, and 2 cats. She has 2 grown sons, who are attending colleges on the West Coast. She enjoys spending time with family and friends, painting, and traveling

Knoxville Home Sales Report: June 2018

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DEEP THOUGHTS:

It's been a minute since June, and we've all felt the market cool a bit. However, June was hotter than July (possibly). 

1. Inventory was still historically low, if flat month over month. 
2. Closings were still historically high, if flat month over month. 
3. Prices were WAY up in June. The average price for a 3 BR home went from about $173,000 to $199,000 year over year. 
4. So far closings have closely tracked just above 2017. It will be interesting to see if we have that somewhat seasonal July dip and that HUGE August jump this year as well.

 *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: 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.