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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|

OPEN HOUSE: 708 Meridian St Nashville, TN 37207, Sunday 5/31, 2-4pm

$450,000 For Sale 708 Meridian St Nashville, TN 37207 3 Beds, 2 Bath, 1833 SqFt Want to see it in person before the open house? Schedule a Showing Meet the Agent Schedule your showing using the link provided on this page to see the property prior to the open house, or at any time while this listing is active. Call me directly at 615.235.3410 Or email [...]

By |2020-05-29T08:54:18-05:00May 28th, 2020|Open Houses, Updates|

Market Update Week of May 26, 2020: Home Demand is Strong

In April, buyer demand was so strong that 56% of Existing Home Sales were on the market less than a month. But due to the current temporary economic contraction, sales posted the biggest monthly drop since 2010. Housing Starts also took a big dip in April, the first full month of restrictions. But Building Permits beat starts by one of the highest figures since the 2008-09 recession, indicating increased builder interest ahead. Freddie Mac notes that low mortgage rates are "giving potential buyers a good reason [...]

By |2020-05-26T20:17:59-05:00May 26th, 2020|Market Trends, Updates|

Video: High Student Loan Debt and Buying a House

https://youtu.be/F6FAymTm-KI   VIDEO DIALOGUE Student loans can definitely affect your ability to get a mortgage, but maybe not how you think.  Basically, when a lender is looking at your financial profile, one thing they are looking at is how much debt you pay monthly, compared to your monthly income.  This is called your debt to income ratio, or DTI. Now, I’ve said it before, I’m not a lender, I don’t do mortgages.  But this is a question that comes up [...]

By |2020-05-25T07:30:33-05:00May 25th, 2020|Updates, Videos|

Market Report: Week of May 18, 2020

The housing market nationally is picking up. Zillow reports new listings grew 5.9% week-over-week, with the hard hit highest price tier up 8%. New listings are still down annually, but have gained now three weeks in a row. Also growing smaller are the year-over-year declines in purchase mortgage applications. Week-over-week, national purchase mortgage activity has shown gains of 12% and 6% the past two weeks. A new study reveals Google searches for "homes for sale" in 50 metros increased an average of 54% from 2020 lows. Freddie [...]

By |2020-05-18T08:30:28-05:00May 18th, 2020|Market Trends, Updates|
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