This Month in Real Estate - October 2018

Chattanooga (November 21, 2018) - If the last few months are an indication of the temperature of housing markets across the country, a period of relative calm can be expected during the last three months of the year. A trend of market balance is emerging as we approach the end of 2018. Prices are still rising in most areas, and the number of homes for sale is still low, but there is a general shrinking of year-over-year percentage change gaps in sales, inventory and prices. More.

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NATIONAL HOME SALES - OCTOBER 2018

Existing-Home Sales Increase for the First Time in Six Months
WASHINGTON (November 21 19, 2018) – Existing-home sales increased in October after six straight months of decreases, according to the National Association of Realtors®. Three of four major U.S. regions saw gains in sales activity last month.

Lawrence Yun, NAR’s chief economist, says increasing housing inventory has brought more buyers to the market. “After six consecutive months of decline, buyers are finally stepping back into the housing market,” he said. “Gains in the Northeast, South and West – a reversal from last month’s steep decline or plateau in all regions – helped overall sales activity rise for the first time since March 2018.” Click here for Fuqua Group’s National Housing Statistics Report for October 2018.

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Looking to buy or sell a home in the Chattanooga or north Georgia area? We can help. Call today for more information on the home buying process or for a free right-price analysis of your home. No obligations. We’d love to hear from you.

Cheryl Fuqua, ABR, CRS
(423) 505-4880

Brad Fuqua, Broker
(423) 605-5167

Christmas Lights In Chattanooga

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It’s Christmas time in Chattanooga! There are so many ways to share the love and celebrate the season. If you’re looking to see some beautiful twinkling nights, you’ve come to the right place! Here’s a list (and map!) of the best places to see the sights!

Rock City Garden of Lights  

NOVEMBER 16 – DECEMBER 31
5 – 9pm (last ticket sold 9pm)
Closed Christmas Eve Night

Weekend Prices: Adults $24.95; Children (ages 3-12) $12.95 
Weekday Prices: Adults $21.95 Children (ages 3-12) $11.95 

Ruby Falls Christmas Underground  

DECEMBER 1 – 9 (Thursdays to Sundays)
DECEMBER 13 – 23 – Daily

Noon – 8pm

Adults $16.95 per person; (2 & Under) FREE

Ticket price includes all Christmas Underground activities, digital photo with Santa, a keepsake geode, and special surprises! 

Hilltop Christmas 

EVERY FRIDAY AND SATURDAY NOVEMBER 30-DECEMBER 22 | 6:30 – 10:30pm

Adults $15; Children (4-9) $8; Children (3 and under) FREE

Ice on the Landing @ The Choo Choo 

EVERY DAY FROM NOVEMBER 16-JANUARY 21 | 6:30 – 10:30pm

Adults $10; Children 12-under $8 
Admission price includes skate rental

Holiday Lights at the Chattanooga Zoo

DECEMBER 7, 8, 14, 15, 21, 22
 | 5:30 – 8pm


Adults: $12; Children: $8; Children (2 and under) FREE

Chattanooga Zoo members receive 50% off purchase of admission.


MERRY CHRISTMAS!

This Month in Real Estate - September 2018

CHATTANOOGA HOME SALES - SEPTEMBER 2018

Chattanooga (October 17, 2018) - Some economy observers are pointing to 2018 as the final period in a long string of sentences touting several happy years of buyer demand and sales excitement for the housing industry. Although residential real estate should continue along a mostly positive line for the rest of the year, rising prices and interest rates coupled with salary stagnation and a generational trend toward home purchase delay or even disinterest could create an environment of declining sales. More.

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NATIONAL HOME SALES - September 2018

Existing-Home Sales Decline Across the Country in September
WASHINGTON (October 19, 2018) – Existing-home sales declined in September after a month of stagnation in August, according to the National Association of Realtors®. All four major regions saw no gain in sales activity last month.

Lawrence Yun, NAR chief economist, says rising interest rates have led to a decline in sales across all regions of the country. “This is the lowest existing home sales level since November 2015,” he said. “A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.” More in-depth details here.

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If you’re looking for a home, check out our FEATURED PROPERTIES. Have a great week!

—Cheryl

Making a Move - Without Losing Your Mind

Moving. Everybody hates doing it. And they often forget how bad it is from one time to the next! But I’ve learned a few tips through the years to help people make the most of their move – and not lose their minds in the process. Some of these are overall guidelines, and some are practical tips. I hope something here will make the act of moving a little faster and a little better so you can get on to enjoying your new home!

These are my best moving tips to help you streamline the process!

Break it down into manageable tasks. 
Create a list of every task that must be done before the move. Check off items as they’re completed, and pack room by room. Crossing items off your list and packing one room at a time can make the feat seem manageable.

Declutter as you go.
That shirt you haven’t worn in two years? Gone. The nail polish that’s a little thick but you might wear it again? Gone. Old sheets and ragged towels? Gone. Remember that space in your attic or basement that you haven’t been into for months (or years)? You can pack these items first because they’ll likely not be missed for a few weeks.

 The more you declutter before you move – or better yet, when you put your house on the market to sell – the easier it will be put everything into its new place. A garage sale or trip to Goodwill can also make a move much easier. If your family has a hard time deciding what stays, have each person choose a certain number of items that must be left behind. You’ll thank yourself when you’re starting fresh and trying to get organized.  

Prep a survival kit.
Put your essentials into a small suitcase to get you from point A to point B – including cleaning supplies, box cutters, first aid kit, toilet paper – anything you want to keep on hand. This is also a good place to keep valuables like laptops, jewelry and important paperwork. Because it’s hard on kids during a move, have them pack a small bag with their favorite toys and books.

Pack the right way.
How you load the truck can impact how quickly you can get things set up and working properly. Begin by writing the contents of each box on the side, not the top. This will make it easier to identify where boxes need to go. Load the truck in this order: furniture other than beds, boxes heaviest to lightest, kitchen items, mattresses and bed rails.

Set up the bed first.
You’ll be glad you did when it’s time to crash after a long day. Then focus on your kitchen – the hub of activity and normalcy for most families. After that, work from room to room instead doing everything at once. This will keep the chaos contained to a few areas.  

Don’t expect it to be stress free!
Uprooting your life and touching every belonging you have is going to bring up some feelings, some good and some bad. That’s why it’s important to keep your sleep routine going, keep healthy snacks for the family on hand, and ask your friends and family to help pitch in during the move. You can return the favor when you’re settled in your new place. And remember, some of the best family memories come when you all work together to get a job done. Happy moving!

For the best places to buy moving supplies, visit realsimple.com/moving.

If you’re thinking about a move, would you consider letting us help you? We work hard for our clients, and we will work hard for you. Please let us know if there’s any way we can help you.

 

Cheryl

 

 

Downsizing is Actually Rightsizing!

There comes a time when most everyone re-evaluates their lifestyle. This can be for several reasons, but cost, up keep and health care-related issues are usually at the top of the list. And for many people, the big house with the pool or one that requires a lot of lawn maintenance isn’t as important – or as needed – as it once was. What’s more, the costs of owning and keeping a property can add up to thousands of dollars each year.

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Even still, the thought of moving out of the family home can be difficult for homeowners and grown children, too. But downsizing doesn’t have to be about losing things – it’s about freedom and independence.

When you think about downsizing to condo living, independent living communities or assisted living communities, it can mean breaking free of financial burdens often associated with things or services that aren’t serving you well anymore. Imagine cutting these costs and keeping that extra cash in the bank! You could even put that money toward services to make your life easier – like laundry, housekeeping or eating out more frequently with friends.  

When it’s time to move to a smaller and more customized space, I encourage my clients think about the positive – fewer bills, less responsibility and reduced liability. When you ‘rightsize’ you have more options – and more cash.  

If you’re thinking that your large family home – that once suited your family’s needs perfectly – is no longer meeting your needs, we’re here to help you consider the options, not fear them. There are many ways of downsizing that don’t include selling everything you hold dear to fit into a one-bedroom apartment.

It’s been a privilege for me to work with families – sometimes for several years – as they go through the process of deciding to move, finding the best new place, and then selling their existing home. It can be emotional, but it’s also really rewarding.

Are you thinking about making a change? If so, we’re here to help you find affordable options that fit your life now, create savings in fees, taxes, upkeep and liability, and provide peace of mind. What could be more relaxing than that?

Cheryl

This Month in Real Estate - April 2018

Chattanooga Home Sales

Chattanooga (May 18, 2018) - Many sellers and builders are in a good position for financial gains, as the economy continues to favor putting existing homes on the market and building new homes for sale. We are finally beginning to see some upward movement in new listings after at least two years of a positive outlook. There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months. Learn more >>>>

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WASHINGTON (May 24, 2018) – After moving upward for two straight months, existing-home sales retreated in April on both a monthly and annualized basis, according to the National Association of Realtors®. All four major regions saw no gain in sales activity last month.

Lawrence Yun, NAR chief economist, says this spring’s staggeringly low inventory levels caused existing sales to slump in April. “The root cause of the under performing sales activity in much of the country so far this year continues to be the utter lack of available listings on the market to meet the strong demand for buying a home,” he said. “Realtors® say the healthy economy and job market are keeping buyers in the market for now even as they face rising mortgage rates. However, inventory shortages are even worse than in recent years, and home prices keep climbing above what many home shoppers are able to afford.” More >>>>

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If you're interested in buying or selling (or what your home may be worth in this market), please give us a call to scheduled a no-obligation meeting at (423) 505-4880. We're glad to answer any questions or provide information you can use to make the best real estate decisions. 

-- Cheryl 

This Month in Real Estate - March 2018

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Chattanooga Home Sales 

Chattanooga (April 20, 2018) - New residential real estate activity has been relatively slow in the first quarter of 2018, yet housing is proving its resiliency in a consistently improving economy. Some markets have had increases in signed contracts, but the vast majority of the nation continues to experience fewer closed sales and lower inventory compared to last year at this time. Despite there being fewer homes for sale, buyer demand has remained strong enough to keep prices on the rise, which should continue for the foreseeable future. More >>>

NATIONAL HOME SALES
Existing-Home Sales Climb 1.1 Percent in March

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Existing-home sales grew for the second consecutive month in March, but lagging inventory levels and affordability constraints kept sales activity below year ago levels, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, says closings in March eked forward despite challenging market conditions in most of the country. "Robust gains last month in the Northeast and Midwest – a reversal from the weather-impacted declines seen in February – helped overall sales activity rise to its strongest pace since last November at 5.72 million," said Yun. "The unwelcoming news is that while the healthy economy is generating sustained interest in buying a home this spring, sales are lagging year ago levels because supply is woefully low and home prices keep climbing above what some would-be buyers can afford." More >>>

Do you have any questions about the ever-changing real estate market in Chattanooga or the surrounding area? I'd be glad to connect with you. Call, text or email at (423) 505-4880 or Cheryl@cherylfuqua.com. 

Cheryl  

CHATTANOOGA HOME SALES - February 2018

Chattanooga (March 16, 2018) - The three most prominent national market trends for residential real estate are the ongoing lack of abundant inventory, the steadily upward movement of home prices and year-over-year declines in home sales. Sales declines are a natural result of there being fewer homes for sale, but higher prices often indicate higher demand leading to competitive bidding. Markets are poised for increased supply, so there is hope that more sellers will take advantage of what appears to be a ready and willing buyer base. MORE> 

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National Home Sales - Existing Home Sales Rebound 3% in February 

WASHINGTON (March 21, 2018) – Despite consistently low inventory levels and faster price growth, existing-home sales bounced back in February after two straight months of declines, according to the National Association of Realtors®. Sizeable sales increases in the South and West offset declines in the Northeast and Midwest.

Lawrence Yun, NAR chief economist, says sales were uneven across the country in February but did increase nicely overall. “A big jump in existing sales in the South and West last month helped the housing market recover from a two-month sales slump,” he said. “The very healthy U.S. economy and labor market are creating a sizable interest in buying a home in early 2018. However, even as seasonal inventory gains helped boost sales last month, home prices – especially in the West – shot up considerably. Affordability continues to be a pressing issue because new and existing housing supply is still severely subpar.” MORE >

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It's more than selling houses.

Every once in a while, there's a transaction and closing that make us realize why we do what we do. Real estate can be hard and be challenging at times, but then, there is this one. Eva and her husband custom built their beautiful home a few years ago and intended to stay there forever. He passed away and after a while, she knew it was time to live closer to her family. 

Tim had been looking for the perfect home for almost two years so he could live close to his family, and it was the perfect fit! So our closing was filled with joy and sadness, but Eva can rest well knowing her home will be loved and cared for just like she and her husband did!  Tim will retire in a month or so and make his life here in Chattanooga. I'm so grateful for opportunities like this that remind me of how doing real estate is so much more than selling houses. 

Can we help you? It would be our pleasure!

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We love referrals!

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It was such a pleasure helping Leslie with the sale of her home. She is a strong, resourceful lady and I truly admire her. I wish her well as she heads back home to St. Louis to join her family there. 

Sweet Boomer was nervous about staying in the packed car during closing, so our great friends at Title Guaranty and Trust welcomed him right in!   We love how they take care of Brad and I and our clients.

Thanks to Teresa Clegg for bringing such a great buyer, and thanks to Jody Sauls for the referral. I love referrals and can't thank you enough. 

Another Home Sold by Fuqua Group!

It was so great helping Derrick & Kourtney Smith sell their home and move on to their next adventure. It's really fun to house hunt with couples who know their style and want something unique. Your new home really is out of this world! We can't wait to see how you make it your own. Congratulations!

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Simple Tips to Take the Stress Out of Moving

From choosing the perfect realtor to finding the ideal home and packing everything you own into cardboard boxes, moving can be a pretty overwhelming experience. Whether you're changing cities and looking to start your life fresh, or you simply want to move up in the world to a bigger home, getting all your important possessions from one place to another can be difficult.

The good news is that if you're worried about the stresses associated with moving, there are a few things you can do to avoid tearing your hair out over the next few months. Here are our simple tips for taking the stress out of the moving process.

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1.     Start Packing as Soon as Possible

Nobody really enjoys packing, but that doesn't mean that you should leave the job until the last minute. Ideally, you'll want to start packing several weeks before you move, so you don't end up rushing around looking for bubble wrap the day before moving day.

The earlier you start packing the easier it will be for you to start purging and removing items you don't want or need to take with you. Instead of hoarding items that you don't really care about anymore, make sure that you're selective with your packing choices.

2.     Make Lists and Labels

Sometimes, the easiest way to ensure an easy move is to be as organized as possible. Labels and lists, either on your smartphone or written out by hand can be a great way to keep track of the things that matter most to you during the move.

Grab a permanent marker while you're filling boxes and remember to label everything with in-depth information that will be useful later. Rather than just writing "bedroom", try something like "bedroom: blankets and cushions."

3.     Ask for Help

Sometimes, asking for help isn't easy - particularly when you know other people in your social circle are busy living their own lives. However, if you're thinking of relocating to a new town, asking for help might be a great way to have a few fun final moments with the people close-by before you go somewhere new.

Spending time together before a big move can be a great way to get some closure, even if you plan to come back and visit friends and family as often as possible.

4.     Say Goodbye

While moving home can be a fast-paced and stressful process in any set of circumstances, it becomes particularly overwhelming when you're moving somewhere new. For instance, if you're thinking of moving to Tennessee, then it might be worth sitting down with friends and family and showing them pictures of where you're going to live.

While you're "saying goodbye", you can also plan ways to visit each other in the future. Look for flights and transportation and make plans on when you're going to meet up again next. This can make the transition feel much less upsetting.

5.     Look After Yourself

Finally, remember that no matter what you do, moving is always going to be one of the most stressful experiences a person can face. With that in mind, it's important to spend time looking after yourself and giving your family the care they need. Get plenty of restful sleep, and make sure that you don't skip meals and live on energy drinks instead.

Thanks so much to Bellhops for guest writing this post.

 

 

Home Conditioning Checklist

Can you believe it's almost 2018? If you're like me, the thought of a new year gets my cleaning and organizing wheels turning! If you're thinking about selling your home next year - or even if you're not - this checklist can help you get your home clean and ready for the year ahead! 

If I don't see or speak to you beforehand, have a happy new year! 

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Exterior
Trim lawn, shrubs, trees, and around sidewalks
Put away bikes, toys, tools
Clean or paint front door
Place a pot of flowers next to the door
Fix the doorbell
Keep walks clear of ice, snow, leaves
Replace burnt out light bulbs

Throughout the House
Shampoo carpets, wax floors
Wash windows, clean blinds
Create space. Scale down collectibles and family photos
Organize closets and cupboards
Pack and store unused items
Remove bugs and cobwebs from light fixtures and corners of rooms
Wash and touch up paint as needed on doors and walls, particularly knobs and switches

Kitchen
Keep countertops clear
Polish appliances, do not use refrigerator as a bulletin board
Clean the oven and degrease the fan hood
Clean and organize cabinets
Keep the sink and faucet shining

Basement
Brighten the walls and floors with paint
Clean the outside of the water heater and furnace, replace furnace filter
Put in bright overhead lights

Make Repairs
Replace washers on leaky faucets
Oil squeaky hinges, nail down squeaky floor boards and steps
Wax sticky drawers
Put sliding doors on track
Replace broken windows
Replace torn screens

Living Areas
Keep drapes and blinds open
Arrange furniture to maximize space and flow of traffic
Hang a mirror where it will reflect outdoor light to add dimension
Remove ashes from the fireplace; set logs in the winter, place green or flowering plant on the hearth in the summer

Bathrooms
Polish fixtures and mirrors
Wash the shower curtain
Repair, caulk, and clean grout
Hang towels neatly
Put away cosmetics and hair appliances
Keep the toilet clean and the lid down

Garage
Sweep the floor, clean oil stains left from cars
Remove cobwebs
Hang tools or place them on shelves
Replace bulbs, make sure electronic garage door opener works

This Month in Real Estate - October 2017 Details

For residential real estate in 2017, the news has continued to provide a relative sense of calm for both buyers and sellers. The national unemployment rate registered in at 4.1 percent for October 2017, which means that joblessness has not been this low in the U.S. since December 2000. Another positive, mortgage rates have held steady at or near 3.9 percent. Historically, the average rate has been around 6.0 percent. These factors help to keep the pool of potential buyers full, even during the so-called off-season of home sales. Read more here. 

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Existing-Home Sales Grow 2.0 Percent in October

WASHINGTON (November 21, 2017) – Existing-home sales increased in October to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month, according to the National Association of Realtors®.

 

Lawrence Yun, NAR chief economist, says sales activity in October picked up for the second straight month, with increases in all four major regions. "Job growth in most of the country continues to carry on at a robust level and is starting to slowly push up wages, which is in turn giving households added assurance that now is a good time to buy a home," he said. "While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated." 

Added Yun, "The residual effects on sales from Hurricanes Harvey and Irma are still seen in parts of Texas and Florida. However, sales should completely bounce back to their pre-storm levels by the end of the year, as demand for buying in these areas was very strong before the storms." More.

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Just Listed - 970 Bella Point

SODDY DAISY, TN 37379 | $450,000
3 BR / 2 FULL, 1 HALF BATH / 2,636 SQ FT

We’re more than half way through development in Bella Point – Soddy Daisy’s premier luxury home development! The beautiful cul-de-sac neighborhood is being developed by Stanley Construction – who builds home that are lodge-inspired, casual and masterfully designed, with unique and interesting features.

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This gorgeous three bedroom, two-and-a-half bath, 2,636 sq. foot home is now under construction. This home is extra special because of its location in the neighborhood – this prime lot offers the most amazing view of the countryside and a serene pond. The 8-foot tall, glass and mahogany double doorway with a custom-built-in entryway provide a grand entrance into a well-appointed foyer. Both front and back porches provide great spaces to take in the surrounding nature. This family friendly home offers an open floor plan boasting 18-foot vaulted ceilings and a custom brick fireplace with rustic, open shelving. It will be stunning!

At this point in the construction process you have the opportunity to select the special finishes that will make this home uniquely yours! The living and kitchen areas are open and offer an amazing view out the wall of windows. The open concept kitchen features custom cabinetry and a huge island perfect for entertaining family and friends or preparing a gourmet meal.

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Your back porch offers a spectacular view that anyone is sure to enjoy. The master bedroom suite (complete with large walk-in closet with custom built-in shelving and a spa-like bath with a double shower) is located on the main level. The sliding barn-style door adds another interesting detail. Head upstairs to see the spacious second and third bedrooms and bathroom. There's also a large bonus room and an office/workout room that could make a perfect den or man cave.

Another special feature of this home is a larger garage with more storage space and additional height in the crawlspace. The large walk-out storage area provides plenty of space to hide your treasures out of sight! The poured concrete back porch that extends your living space is perfect for taking in the beautiful scenery. The yard will be professionally landscaped with sod and an irrigation system at the front and side yards. You'll love the large lots with scenic views, professional landscaping and street lights and architectural unity throughout.

Truly a beautiful home that you don't want to miss! Call today to see this amazing home. You won't be disappointed!

If this home isn't for you, click here to search for more homes in the Chattanooga and surrounding areas. You can also call or text Cheryl @ (423) 505-4880. 

Congratulations!

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Congratulations to Laura Drake and Richie Waldon on the purchase of their new home! They really wanted a newer, bigger home to accommodate their children and grandchildren then they came to visit. They looked at a few homes, but fell in love with the one they purchased almost immediately.

We're thrilled for you and hope you enjoy it this Christmas season!

#buywithbrad #homesweethome #homefortheholidays

 

September 2017 Market Activity

Chattanooga Area Home Sales

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving. More. 

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National Home Sales

After three straight monthly declines, existing-home sales slightly reversed course in September, but ongoing supply shortages and recent hurricanes muted overall activity and caused sales to fall back on an annual basis, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, says closings mustered a meager gain in September, but declined on an annual basis for the first time in over a year (July 2016; 2.2 percent). “Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country,” he said. “Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.”

Added Yun, “Sales activity likely would have been somewhat stronger if not for the fact that parts of Texas and South Florida – hit by Hurricanes Harvey and Irma – saw temporary, but notable declines.” More. 

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Thinking about buying a home? I can show you any home that’s for sale in the area, whether or not it’s listed by me or my office. Your perfect home IS out there. I’d appreciate the opportunity of helping you find it.

---Cheryl 

This Month in Real Estate - July 2017

Summer's winding down, but the housing market is still going strong! 

Chattanooga (August 14, 2017) - How long can the residential real estate market go on like this? We are about two years into a national trend of dropping housing supply and increasing median sales prices. There are some regional variations to the story, but the shift to a predominantly seller's market is mostly complete. Multiple-offer situations over asking price are commonplace in many communities, and good homes are routinely off the market after a single day. It is evident that a favorable economy keeps hungry buyers in the chase. Read more >>>>>

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WASHINGTON (August 24, 2017) – Listings in July typically went under contract in under 30 days for the fourth consecutive month because of high buyer demand, but existing-home sales ultimately pulled back as large declines in the Northeast and Midwest outweighed sales increases in the South and West, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, says the second half of the year got off on a somewhat sour note as existing sales in July inched backward. “Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect of not enough inventory to choose from and its pressure on overall affordability put the brakes on what should’ve been a higher sales pace,” he said. “Contract activity has mostly trended downward since February and ultimately put a large dent on closings last month.” More information here >>>>

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If there's any way we can be helpful to you, please let us know! 

-Cheryl
(423) 505-4880
Cheryl@cherylfuqua.com

This Month in Real Estate - June 2017

Chattanooga (July 11, 2017) - There has been a general slowdown in sales across the country, and this cannot be blamed on negative economic news. Unemployment remains low and wage growth, though nothing to overly celebrate, has held steady or increased for several years in a row. There is strong demand for home buying, emphasized by higher prices and multiple offers on homes for sale in many sub-markets. As has been the case for month after month – and now year after year – low inventory is the primary culprit for any sales malaise rather than lack of offers. More information here. 

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WASHINGTON (July 24, 2017) – Existing-home sales slipped in June as low supply kept homes selling at a near record pace but ultimately ended up muting overall activity, according to the National Association of Realtors®. Only the Midwest saw an increase in sales last month.

Lawrence Yun, NAR chief economist, says the previous three-month lull in contract activity translated to a pullback in existing sales in June. "Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that's straining their budget," he said. "The demand for buying a home is as strong as it has been since before the Great Recession. Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines." More information here. 

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