Chattanooga area market data

This Month in Real Estate - Dec 2018

CHATTANOOGA HOME SALES

Chattanooga (January 20, 2019) - Home prices were consistently up again in most markets in 2018 but at reduced levels compared to recent years. High demand for few homes for sale fueled price increases, but evidence is mounting that inventory will finally improve in 2019. This may apply some downward pressure on prices for beleaguered home buyers. A fourth interest rate hike by the Federal Reserve in 2018 spooked the stock market to close out the year. The Fed has indicated that the number of rate increases in 2019 will be halved, which may be of little comfort to an already compressed consumer. More >>>>

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NATIONAL HOME SALES

Existing-Home Sales See 6.4 Percent Drop in December

WASHINGTON (January 22, 2019)– After two consecutive months of increases, existing-home sales declined in the month of December, according to the National Association of Realtors®. None of the four major U.S. regions saw a gain in sales activity last month.

Lawrence Yun, NAR’s chief economist, says current housing numbers are partly a result of higher interest rates during much of 2018. “The housing market is obviously very sensitive to mortgage rates. Softer sales in December reflected consumer search processes and contract signing activity in previous months when mortgage rates were higher than today. Now, with mortgage rates lower, some revival in home sales is expected going into spring.” More >>>>

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If you’re interested in buying or selling a home or development property, we’d love to help. Please reach out for any questions or to learn more about the process. We’re here as a resource for you!

Cheryl Fuqua, ABR, CRS
(423) 505-4880
Cheryl@cherylfuqua.com

Brad Fuqua, Broker
(423) 605-5167
Brad@bradleyfuqua.com

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

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

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