Real Estate

Knoxville Home Sales Report: August 2019

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DEEP THOUGHTS:

1. Inventory remains under the 3 month supply line for the second month in a row and the third time in the last three years.
2. Closings are up almost 20% year over year.
3. Sales prices are up across the board almost 20% (sense a theme yet?). The average price for a 3 BR house in August 2019 was $181,449 vs $225,555 this August.
4. Active listings were up month over month, but down 16% year over year.
5. Interest rates are still low and still helping to drive this train.
6. Y’all. For real. Look at those other lines. August is usually kind of slow. We should be winding down for the year, but we’re not. I’m thinking I’m not booking a non-refundable vacation any time soon, because we house slingers gotta make hay while the sun shines.

 *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: Heather Kirby

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Heather is a native Knoxvillian, so she feels a special love and connection to her hometown. She studied art history at the University of Tennessee where she developed her appreciation for architecture and its underlying history. For two years, she was a resident manager at a wilderness lodge in Big South Fork where she honed her business and accommodation skills. From there she worked for the Knox County Library System for 13 years where she successfully commingled with a wide variety of people and expanded her research expertise. Heather's change in career to real estate was a natural choice with her background experience. She is friendly and honest and thrives on work that allows her to communicate and focus on the details. Whether a client is a buyer or seller, she believes in a creative, cooperative approach to negotiation and problem-solving where relationships are built and where everyone leaves the table feeling that their core needs have been met.


Heather is a well-rounded person with many interests. She is a real animal lover, for she is a proud momma of cats and dogs, all of which are rescues, and she works with horses and is an aspiring equestrian. She enjoys gardening, home improvement, literature, art, and film. She is an outdoors enthusiast who loves to hike, swim, kayak, and snow ski. She loves to travel, especially abroad, and she has an affinity for Ireland and everything Irish.

Knoxville Home Sales Report: May 2019

Going up!

Going up!

Going down…

Going down…

….and skyrocketing.

….and skyrocketing.

DEEP THOUGHTS:

1. Inventory has fallen under the 3 month supply line yet again (it’s only happened one other time in the last decade or ever that I know of).
2. Closings are WAY up, accounting for the inventory shortage.
3. Active listings are up, but not able to meet the demand of active buyers.
4. Listing prices are up all the way around. The average price of a 3 BR home in May 2018 was $198,531. In 2019 it was $213,176.
5. Interest rates are actually slightly down and there are a lot of good loan programs out there.
6. My crystal ball is not always reliable. If you had asked me last year if the market could hold this long, I would have said no. It appears that all anything is possible this summer. Enjoy that magic seller’s market while it lasts!

 *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 2019

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DEEP THOUGHTS:

1. Inventory just got even lower #justlistit
2. Closings were slightly down year over year, but low inventory and active listings may have something to do with that. #justlistit
3. Active listings also went lower. Again, #justlistit
4. Prices are the only thing that are continuing to go up, all across the board. #sellersmarket
5. Interest rates are still very low and financing is easy to come by. If you can find a house, #justbuyit
6. It’s still a seller’s market, and we need more sellers. Call me, we’ll talk.

 *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: 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, 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.

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: 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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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

 

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.

Knoxville Home Sales Report: Janurary 2017

Knoxville Home Sales Report: Janurary 2017

Nothing cooled down this winter, including the Greater Knoxville Area real estate market. The year ended on a great note in December, but let's take a look at how we're starting off 2017! Please to enjoy the following beautiful charts with data from the Knoxville Area Association of Realtors (nom de plume, KAAR). To the charts!

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