Wondering if it still makes sense to sell your house right now? The short answer is, yes. And if you look at the current number of homes for sale, you’ll see two reasons why.
An article from Calculated Risk shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:
Here’s a breakdown of how this benefits you when you sell.
Are you thinking about selling because your current house is too big, too small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be less of a challenge to find what you’re looking for.
So, if you were holding off on selling because you were worried you weren’t going to find a home you like, this may be just the good news you needed. Partnering with a local real estate professional can help you make sure you’re up to date on the homes available in your area.
But to put that into perspective, even though there are more homes for sale now, there still aren’t as many as there’d be in a normal year. Remember, the data from Calculated Risk shows we’re down nearly 40% compared to 2019. And that large a deficit won't be solved overnight. As a recent article from Realtor.com explains:
“. . . the number of homes for sale and new listing activity continues to improve compared to last year. However the inventory of homes for sale still has a long journey back to pre-pandemic levels.”
For you, that means if you work with an agent to price your house right, it should still get a lot of attention from eager buyers and could sell fast.
If you're a homeowner looking to sell, now's a good time. You'll have more options when buying your next home, and there's still not a ton of competition from other sellers. If you’re ready to move, let’s connect to get the ball rolling.
Embark on a journey through Pigeon Forge's real estate landscape, steeped in rich history and brimming with investment potential. Back in the summer of 1968, Pigeon Forge captured the spotlight with a vibrant press release showcasing its burgeoning tourism industry. With 21 motels, six Grade A restaurants, and an array of essential amenities catering to visitors, Pigeon Forge was already establishing itself as a premier destination.
Fast forward to today, and the allure of Pigeon Forge's real estate market remains as strong as ever. Wander through the streets, and you'll find a remarkable resemblance to its past glory, with a plethora of businesses thriving within a one-block radius. This testament to sustained growth speaks volumes about the resilience and prosperity of Pigeon Forge's economy.
Investors seeking opportunities in Pigeon Forge real estate are met with a wealth of options, from vacation rentals to commercial properties. Whether you're drawn to the charm of historic buildings or the promise of modern developments, Pigeon Forge offers something for every investor.
Don't miss out on the chance to be a part of Pigeon Forge's storied legacy and thriving real estate market. Explore the possibilities and unlock the potential of investing in this dynamic and vibrant community.
If you're thinking of selling your house this spring, now is the perfect time to start getting it ready. With the market gearing up for its busiest time of year, it'll be important to make sure your house shines bright among the competition.
Here are some valuable tips you can use to get your house market-ready.
First impressions matter, and if your house is a mess, that can easily turn off potential buyers. Before listing, take the time to declutter and organize each room. Decluttering is about more than just tidying up – it's about creating a sense of space and openness that allows potential buyers to envision themselves living in your home. According to Moving.com:
“Decluttering and organizing your space will go a long way in appealing to potential buyers. . . .decluttering will help the buyers see themselves living in your home. Less clutter inside a home also helps a place appear larger and cleaner, which should attract more buyers.”
The kitchen and bathrooms are focal points for many buyers, and often influence their overall opinion of the house. Ensure these spaces dazzle by giving them a thorough deep cleaning. Pay attention to details like scrubbing grout lines, polishing fixtures, and decluttering countertops. A sparkling kitchen and bathroom can leave a lasting positive impression on potential buyers.
Your home’s exterior is the first thing potential buyers see, so it’s important to make a good impression from the moment they arrive. A well-maintained yard not only enhances curb appeal, but also shows buyers the home has been well taken care of.
Take the time to spruce up your yard by mowing the lawn, trimming bushes, and clearing away any debris or dead plants. Remember, the goal is to create a welcoming environment that entices buyers to step inside and imagine themselves living there. U.S. News says:
“A beautifully landscaped front yard can elevate an ordinary house into a charming home and will help homes sell faster and for more money.”
A skilled listing agent is your partner in minimizing stress when selling your home. Lean on your agent for advice on decluttering, staging, and enhancing your home's appeal to potential buyers. Their insights into market trends and recommendations for reliable contractors and stagers are invaluable. As Realtor.com says:
“A good listing agent will help you price your home . . . recommend a photographer and stager to make it look its best, and put your home on the multiple listing service.”
By decluttering, deep cleaning, and tidying up your house, you can create a welcoming environment that resonates with buyers and increases your chances of a successful sale. Let’s connect on what you need to do to get your house ready to sell this spring.
Explore the captivating history of Pigeon Forge and the pancake paradise of Gatlinburg and Pigeon Forge, and how they influence the local real estate market. Delve into Pigeon Forge's prosperous past, boasting a thriving tourism industry since 1968 with a myriad of accommodations and amenities. Today, this rich history continues to shape Pigeon Forge's real estate landscape, attracting investors and homebuyers seeking Southern charm and vibrant entertainment options.
Amidst the scenic Smoky Mountains, Gatlinburg and Pigeon Forge offer a unique culinary experience with an abundance of pancake houses. This culinary tradition not only adds to the area's appeal but also impacts the local real estate market by contributing to its reputation as a desirable destination for both residents and tourists alike.
Discover how Pigeon Forge's historical allure and Gatlinburg-Pigeon Forge's pancake haven influence property values, rental demand, and investment opportunities. Whether you're considering purchasing a vacation home, rental property, or relocating to the area, understanding the interplay between local history, culture, and cuisine is essential for making informed real estate decisions in this dynamic market.
Finding the right home is one of the biggest challenges for potential buyers today. Right now, the supply of homes for sale is still low. But there is a bright spot. Newly built homes make up a larger percent of the total homes available for sale than normal. That’s why, if you’re craving more options, it makes sense to see if a newly built home is right for you.
But it’s important to remember the process of working with a builder is different than buying from a homeowner. And, while builders typically have sales agents on-site, having your own agent helps make sure you have proper representation throughout your homebuying journey. As Realtor.com says:
“Keep in mind that the on-site agent you meet at a new-construction office works for the builder. So, as the homebuyer, it’s a smart idea to bring in your own agent, as well, to help you negotiate and stay protected in the transaction.”
Here’s how having your own agent is key when you build or buy a new construction home.
It’s important to consider how the neighborhood and surrounding area may evolve before making your home purchase. Your agent is well-versed in the upcoming communities and developments that could influence your decision. One way a real estate agent can help is by reviewing the builder's site plan. For example, you’ll want to know if there are any plans to construct a highway or add a drainage ditch behind your prospective backyard.
An agent also has expertise in the construction quality and reputation of different builders. They can give you insights into each one's track record, customer satisfaction, and construction practices. Armed with this information, you can choose a builder known for consistently delivering top-notch homes.
The most obvious benefit of opting for new home construction is the opportunity to customize your home. Your agent will guide you through that process and share advice on the upgrades that are most likely to add long-term value to your home. Their expertise helps make sure you focus your budget on areas that will give you the greatest return on your investment later.
When it comes to working with builders, having a skilled negotiator on your side can make all the difference. Builder contracts can be complex. Your agent can help you navigate these contracts to make sure you fully understand the terms and conditions. Plus, agents are skilled negotiators who can advocate for you, potentially securing better deals, upgrades, or incentives throughout the process. As Realtor.com says:
“A good buyer’s agent will be able to review any contracts before you sign on the dotted line, ensuring you aren’t unwittingly agreeing to terms that only benefit the builder.”
If you are interested in buying or building a new construction home, having a trusted agent by your side can make a big difference. If you'd like to start that conversation, let’s connect.
If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.
Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. An article from Freddie Mac explains:
“The lack of housing supply was partly driven by the rate lock-in effect. . . . With higher rates, the incentive for existing homeowners to list their property and move to a new house has greatly diminished, leaving them rate locked.”
These homeowners decided to stay put and keep their current lower mortgage rate, rather than move and take on a higher one on their next home.
According to the latest data from Realtor.com, there were more homeowners putting their houses up for sale, known in the industry as new listings, in December 2023 compared to December 2022 (see graph below):
Here's why this is so significant. Typically, activity in the housing market cools down in the later months of the year as some sellers choose to delay their moves until January rolls around.
This is the first time since 2020 that we’re seen an uptick in new listings this time of year. This could be a signal that the rate lock-in effect is easing a bit in response to lower rates.
While there isn’t going to suddenly be an influx of options for your home search, it does mean more sellers may be deciding to list. According to a recent article from the Joint Center for Housing Studies (JCHS):
“A reduction in interest rates could alleviate the lock-in effect and help lift homeowner mobility. Indeed, interest rates have recently declined, falling by a full percentage point from October to November 2023 . . . Further decreases would reduce the barrier to moving and give homeowners looking to sell a newfound sense of urgency . . .”
And that means you may see more homes come onto the market to give you more fresh options to choose from.
As mortgage rates come down, more sellers may re-enter the market – that gives you an opportunity to find the home you’re looking for. Let’s connect so you’ve got a local expert on your side who’ll help you stay on top of the latest listings in our area.
"Unveiling the Charms of Gatlinburg: Jason Aldean's Night Club and Smoky Mountain Real Estate"
Welcome to the heart of the Smoky Mountains, where the vibrant energy of Jason Aldean's Night Club meets the timeless allure of Smoky Mountain Real Estate. Gatlinburg, Tennessee has long been a haven for those seeking the perfect blend of entertainment and serenity. In this blog, we'll delve into the exhilarating nightlife at Jason Aldean's, followed by the enchanting world of Smoky Mountain Real Estate, ensuring your experience in Gatlinburg is nothing short of extraordinary.
Jason Aldean's Night Club: Nestled in the heart of downtown Gatlinburg, Jason Aldean's Night Club promises an unforgettable experience for country music enthusiasts and nightlife aficionados alike. Boasting a welcoming atmosphere, the club is an extension of the country superstar's signature style. From Live performances by local and national artists to the pulsating beats spun by talented DJs, every night at Jason Aldean's is a celebration of the country spirit.
Why Choose Jason Aldean's Night Club in Gatlinburg?
1. Live Music Exgtravangaza: Immerse yourself in the soulful tunes of country music, both classic and contemporary, as talented artists take the stage to create an atmosphere of pure musical bliss.
2. Signature Cocktails: Sip on expertly crafted cocktails inspired by Jason Aldean's favorite flavors, ensuring that your night is as flavorful as the music.
3. VIP Experience: Elevate your night by opting for the VIP experience, where personalized serviceand exclusive access adds an extra layer of glamor to your evening.
4. Dance the Night Away: The spacious dance floor invites you to kick up your heels and dance to the rhythm of the South, creating memories that will last a lifetime.
Smoky Mountain Real Estate: as dawn breaks over the picturesque Smoky Mountains, the allure of Gatlinburg extends beyond its vibrant nightlife. The real estate market in the region offers a unique opportunity to make this enchanting locale your home. Whether you seek a cozy mountain cabin, a luxurious retreat, or a charming family home, Smoky Mountain Real Estate has something for everyone.
Why Invest in Smoky Mountain Real Estate?
1. Breathtaking Views" Wake up to panoramic views of the Smoky Mountains, providing a daily dose of natural beauty and tranquility.
2. Outdoor Paradise: Gatlinburg's surroundings offer a myriad of outdoor activities, from hiking and fishing to skiing and wildlife exploration, ensuring there's always an adventure waiting just beyond your doorstep.
3. Charming Communities: Discover tight-knit communities that embrace the true essence of Southern Hospitality, creating a warm and welcoming environment for residents.
4. Investment Potential: With Gatlinburg's popularity as a tourist destination, investing in real estatehere presents a promising opportunity for those looking to capitalize on the thriving tourism industry.
In Gatlinburg, the synergy between Jason Aldean's Night Club and Smoky Mountain Real Estate creates a perfect harmony of entertainment and tranquility. Whether you're drawn to the electrifying beats of live music orthe serene beauty of mountain living, Gatlinburg welcomes you to experience the best of both worlds. Embracethe magic, and let Gatlinburg become not just a destination but a place you proudly call home.
If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%, according to Freddie Mac (see graph below):
This recent trend is great news for buyers. As a recent article from Bankrate says:
“The rate cool-off somewhat eases the housing affordability squeeze.”
And according to Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA):
“MBA expects that affordability conditions will continue to improve as mortgage rates decline . . .”
Here’s a bit more context on how this could help with your plans to buy a home.
Understanding the connection between mortgage rates and your monthly home payment is crucial for your plans to become a homeowner. The chart below illustrates how your ability to afford a home changes when mortgage rates shift. Imagine your budget allows for a monthly payment between $2,400 and $2,500. The green part in the chart shows payments in that range or lower (see chart below):
As you can see, even small changes in rates can affect your budget and the loan amount you can afford.
When you're looking to buy a home, it's important to get guidance from a local real estate agent and a trusted lender. They can help you explore different mortgage options, understand what makes mortgage rates go up or down, and how those changes impact you.
By looking at the numbers and the latest data together, then adjusting your strategy based on today's rates, you'll be better prepared and ready to buy a home.
If you’re looking to buy a home, you should know the recent downward trend in mortgage rates is good news for your move. Let’s connect and plan your next steps.