One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging. Here’s a look at what some experts have to say about key areas that will power the industry and the economy forward this year.
With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.Latest News
With the housing market staggered to some degree by the health crisis the country is currently facing, some potential purchasers are questioning whether home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item.
Listing is active. You can view here: https://bit.ly/525WarriorDrLatest News
Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are deciding on the best strategy to slowly and safely reopen, the big question is: how long will it take the economy to fully recover?
Today’s everyday reality is pretty different than it looked just a few weeks ago. We’re learning how to do a lot of things in new ways, from how we work remotely to how we engage with our friends and neighbors. Almost everything right now is shifting to a virtual format. One of the big changes we’re adapting to is the revisions to the common real estate transaction, which all vary by state and locality. Technology, however, is making it possible for many of us to continue on the quest for homeownership, an essential need for all.Latest News
Red Report - 1st Quarter 2020
1st Qtr Closings 2020 vs 1st Qtr 2019:
UP ?? 9% 1st Quarter 2020 vs 1st Quarter 2019 Closings (same quarter year ago comparison)
DOWN ?? 16% 1st Quarter 2020 vs 4th Quarter 2019 Closings (one quarter change)
UP ?? 9% Year to Date Closings - 2020 vs 2019
Total Inventories are even/no change for 1st Quarter 2020 verses 1st Quarter 2019.Latest News
A new concern is whether the high number of unemployed Americans will cause the residential real estate market to crash, putting a greater strain on the economy and leading to even more job losses. The housing industry is a major piece of the overall economy in this country.
We’re in a changing real estate market, and life, in general, is changing too – from how we grocery shop and meal prep to the ways we can interact with our friends and neighbors. Even practices for engaging with agents, lenders, and all of those involved in a real estate transaction are changing to a virtual format. What isn’t changing, however, is one key thing that can drive the local economy: buying a home.Latest News
Looks like rates ended the week at 3.4% for 30 year. Download this week's (3/28) market update provided to us by Darnell Gazzolo with Wilson Bank & Trust.Latest News
More and more economists are predicting a recession is imminent as the result of the pullback in the economy caused by COVID-19. According to the National Bureau of Economic Research:Latest News
On Friday we ended with mortgage rates looking like they are back in the mid 3s after a rollercoaster ride!
Such a great time with the current situation in our Nation to stay home and CLEAN OUT!Latest News
Rising home prices have been in the news a lot lately, and much of the focus is on whether they’re accelerating too quickly and how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact they have on a homeowner’s equity position.
Party at The Flats!
We will have the Flats @ Olive open to the public THIS Friday from 3:00pm to 5:00pm for touring.
333 Indian Park Dr Murfreesboro, TN 37128 - Coming Soon!
When people talk about homeownership and the American Dream, much of the conversation revolves around the financial benefits of owning a home. However, two recent studies show that the non-financial benefits might be even more valuable....Latest News
Home Prices Increase in Every Price RangeLatest News
August 2019 vs August 2018Latest News
Everybody Calm Down! This Is NOT 2008Latest News
When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes? We can help!Latest News
When thinking about selling their house, homeowners have many options. A relatively new option is using an “iBuyer.” What is an iBuyer?
According to Jovio, the definition is:
“A company or investor that uses Automated Valuation Models (AVMs) to make instant offers on homes. It allows sellers to close on a property quickly. Once sold, the company then turns around and resells the home for a profit.”
Today, there are many iBuyer companies such as OfferPad, Zillow Offers, Knock, Opendoor, and Perch...
We have supplied you with a little information so you can decide if this is a good route for you or not.
*Extra Bonus added this report (see the New Construction vs Total Market data after the July numbers)Latest News
There are many misconceptions about the credit score needed to buy a house. 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!
This home will be listed at $205,000. Great opportunity for first time home buyer or great investment for using as a rental.
Make your home stand out with these 7 Tips for Spring Cleaning.
Adorable farm house for sale in Manchester on 3 acres with covered breezeway, metal roof, central heat and air, new carpet, new electric wiring, new exterior doors, new windows upstairs and 4 new windows downstairs, 2 barns on property. 2 minutes from I24. 7.8 miles to Rutherford County!Latest News
The Hampton Team just announced for a limited time they are offering help with Closing Costs / Down Payment. Contact us for more information and to see if you qualify!
Jason - 615-456-8016
Office 615-897-2733Latest News
Watch this series of videos created to help you prepare your home for getting the most money when listed. In each video Jason discusses 3-4 must do's when listing your home for sell.Latest News
We were SUPER honored to be nominated as Favorite Real Estate Agent and Favorite Real Estate Team... and now we are SO STINKING THANKFUL that you voted for us!Latest News
Jason and our President, Steven Dotson, had a great discussion on our Facebook page today about the market so far in 2018 and where we are headed as we close out this year. You can watch the video by clicking the image below. The full Red Report can be viewed here: RedReport-pdf-9-18.pdfLatest News
We are sharing an update on the Real Estate Market here in Middle TN to be sure you are up to date on how the market is trending. Steven Dotson, our President, put together this great update and I wanted to be sure to send over so you can stay up to date on what is happening in the market.
Summary from Steven Dotson:
While the National home sales seem to be cooling just a little bit, the local real-estate market continues to be hot as ever. National home sales are 3% lower for the year to date totals for 2018 vs 2017 compared to Locally, we are 5% higher for the year to date totals for 2018 vs 2017. I would contribute the difference in inventories. Locally, we have seen inventories increase so the sales have followed. Nationally, the inventories continue to be lower than previous years and the sales have followed with a slight decrease as well. Some economists have the opinion that higher prices and mortgage rates increasing have kept those on the lower end from being able to afford a home. Locally, we have such a low supply and high backed up demand for the lower end that is will take more price increases to slow down the lower end/first time buyer home sales.Most of the lower end listings continue to sell in days if not hours with multiple offers. We all guessed the sales would follow the inventories so that opinion continues to have validity by looking at the local and national trends.
FULL ARTICLE CLICK HERE: RedReport-pdf-6-18.pdf
The Top 10 Things You Need To Know Before Purchasing Your New Home
Read a little about each....Latest News
Don't miss out on this opportunity!
Four Seasons Resort, a gated community on Center Hill Lake. Watch video below!
It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C.
States in the Midwest came out on top as most affordable, requiring the smallest salaries in order to buy a median-priced home. States with large metropolitan areas saw a bump in the average salary needed to buy with California, Washington, D.C., and Hawaii edging out all others with the highest salaries required.
Below is a map with the full results of the study:
GoBankingRates gave this advice to anyone considering a home purchase,
“Before you buy a home, it’s important to find out if you can afford the monthly mortgage payment. To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income.”
As we recently reported, research from Zillow shows that historically, Americans had spent 21% of their income on owning a median-priced home. The latest data from the fourth quarter of 2017 shows that the percentage of income needed today is only 15.7%!
If you are considering buying a home in TN, the suggested income is $42,000 for a home in the median range. Let us know if you would like to be connected to a lender for more information.
Article provided by KeepingCurrentMatters.com.Latest News
Make plans to join us for FREE pictures with the Easter Bunny, crafts, and fun!
* FREE 4x6 picture & FREE digital copy
* FREE crafts and fun for ALL ages
* Saturday, March 24, 2018, 10am to 2pm
* Bring the kids... Bring the furry animals!
* 1574 Medical Center Parkway, Suite 202
* Hosted by Jason Fraker, Red Realty LLC
* Sponsored by:
Jeannine Dalton, Guaranty Trust Company (Gold Sponsor)
Blake Finney, Shelter Insurance (Silver Sponsor)
Brent Scott, Premier Home Inspection, LLC (Bronze Sponsor)
80% of Renters Believe Homeownership is a Part of Their American Dream!Latest News
Definitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!Latest News
Renting and think you can't afford to buy? THINK AGAIN. Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious. MSG me for help to get started.Latest News
Recently, the National Association of Realtors (NAR) conducted their own analysis to determine the impact the new tax code may have on home values. NAR’s analysis:Latest News