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Market Update Week of July 6, 2020: Pending Home Sales are Up

The National Association of Realtors Pending Home Sales index of contracts signed on existing homes surged 44.3% in May, its biggest gain since 2001. All regions were up, though the overall index is still down a smidge annually. The NAR chief economist: “The outlook has significantly improved, as new home sales are expected to be higher this year than last, and annual existing home sales are now projected to be down by less that 10%." Plus: “All figures light up in 2021 with positive GDP, employment, [...]

By |2020-07-06T09:28:02-05:00July 6th, 2020|Market Trends, Updates|

Video: How to Save for a House

 https://youtu.be/dAQYgvzwO_U VIDEO DIALOGUE: Preparing to purchase a house is a daunting task.  But the biggest hurdle to cross early on is to save enough money for a down payment, which will include budgeting to get your monthly overhead down. So let’s talk about budgeting and how to save money. I’m going to offer a few suggestions that I’ve found to be helpful. Suggestion #1.  This is not at the top of my list for any other reason than budgeting, [...]

By |2020-06-25T14:54:40-05:00July 6th, 2020|Updates, Videos|

Market Update Week of June 29, 2020: Home Sales Up, Down

After their upside surprise in April, New Home Sales blasted ahead 16.6% in May, to a 676,000 annual rate. Sales are up 12.7% from a year ago, the 12-month average just 1.1% below February’s post-2008 high. Existing Home Sales dropped 9.7% in May, to 3.910 million annually. But those contracts were signed at the height of the lockdowns, while New Home Sales, logged at contract signing, are a timelier indicator of current activity. Freddie Mac: “After the Great Recession, it took more than ten years for purchase [...]

By |2020-06-29T09:30:05-05:00June 29th, 2020|Market Trends, Updates|

Video: Buying Rental Property

https://youtu.be/n8j0GOgpN80 VIDEO DIALOGUE: I’m a dad, and I’ve been a sole proprietor for most of my career.  That said I have to think about what I’m doing to save for my family, for my son’s college and for mine and my wife’s retirement often, because it’s not built into my income like at most 9-5 jobs. If you’re anything like me, you’re always looking for those ways to set money aside, or make passive income to help support [...]

By |2020-06-25T14:39:03-05:00June 29th, 2020|Updates, Videos|

Market Report, week of June 22, 2020: Builders Bouncing Back

Home building rebounds: Housing Starts went up 4.3% in May, Building Permits spiked 14.4%, and the National Association of Home Builders confidence index's biggest ever monthly gain took it into positive territory. With the economy turning around, Freddie Mac noted, “one segment that is exhibiting strength is the housing market. Purchase demand activity is up over 20% from a year ago, the highest since January 2009.” Fannie Mae sees record-low mortgage rates into 2021 helping prices and builds, and taking 2020 refinances to their highest level [...]

By |2020-06-22T14:22:06-05:00June 22nd, 2020|Market Trends, Updates|

Market Update Week of June 15, 2020

The Mortgage Bankers Association pegged purchase applications up for the eighth straight week, coming in 13% higher than a year ago, noting “the recovery in the purchase market continues to gain steam.” On a deep dive since March, Fannie Mae’s Home Purchase Sentiment Index finally turned higher in May, indicating consumer views are improving as the economy begins to show signs of recovery from the coronavirus crisis. A Zillow statement said, “New for-sale listings are up 19.3% month over month” and “newly pending [...]

By |2020-06-15T16:12:18-05:00June 15th, 2020|Market Trends, Updates|

Video: Walkthrough Tour of 708 Meridian St. Nashville TN 37207 PENDING SALE

https://youtu.be/__TKlqqHwB0 VIDEO DETAILS 708 Meridian St, Nashville TN 37207 Offered by Joshua C Smith with TN Home Agent of Benchmark Realty, LLC 708Meridian.truesourceent.com This beautiful 3 bed 2 bath, 1833 sqft Queen Anne-style Victorian nestled in the McFerrin Park area of East Nashville is your ideal historic home. It has been lovingly cared for and restored to modern living standards while keeping the integrity of its historic value by its recent owners, and is move-in ready.  It’s hard [...]

By |2020-06-11T15:32:42-05:00June 15th, 2020|Property Information, Updates, Videos|

Market Update Week of June 8, 2020: Buyer Applications Up 18% Over Last Year

Freddie Mac’s chief economist notes, “...all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market.” In fact, the Mortgage Bankers Association reported purchase applications rose for the seventh week in a row, spiking 18% over last year, citing “pent-up demand from home buyers returning to the market.” Realtor.com’s chief economist chimes in: “We're seeing more home buyers in the market than we did this time last year."  She adds: "It's [...]

By |2020-06-08T08:30:10-05:00June 8th, 2020|Market Trends, Updates|

Video: Buying a New Construction Home vs Existing

https://youtu.be/TAZwwfqBIfo   VIDEO DIALOGUE: It’s not uncommon to question whether you want to buy an existing home versus a brand new build, so it’s important to know the benefits and concerns for both. Some benefits of new construction are that if you opt for a custom built home, you can pick your floor plan and paint colors.  They come with new appliances, maybe even the smart kind that can connect to your bluetooth and have speakers built in. Maintenance [...]

By |2020-06-08T07:27:53-05:00June 8th, 2020|Updates, Videos|

Video: Buyer’s Market – Tips for Buying a House

https://www.youtube.com/watch?v=4G-FmErMrbc VIDEO DIALOGUE It’s Buyer’s season. And it can be very competitive. Paired with the inherent difficulties of buying property, right now especially, this can make the buying process long and difficult. But don’t be discouraged. I wanted to throw out a couple suggestions I tell my clients when we’re looking at houses this time of year in particular, but it’s good advice for any time of year and most markets I’m sure. And this information is important [...]

By |2020-06-01T07:19:23-05:00June 1st, 2020|Updates|
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