Don't expect home prices to come crashing down anytime soon

By Nicole Goodkind, CNN Business

Updated 8:12 AM ET, Wed August 31, 2022

New York (CNN Business)Rising mortgage rates are taking a toll on the US housing market. But those hoping for prices to drop probably won't catch a break anytime soon.

What's happening: Home prices were up 18% in June compared to a year ago, with Tampa, Miami and Dallas reporting the highest annual gains, according to the S&P CoreLogic Case-Shiller Indices. 

That was a slower pace than in May, when they rose 19.9% annually. But the bottom line is that prices are still going up a lot, even as home sales have declined from their peaks. 

So are we in a housing bubble?

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https://www.cnn.com/2022/08/31/investing/premarket-stocks-trading?fbclid=IwAR3bKvGKcfqvFwNiJD0pbQHcRTy8blxEeORQNN-nJfiInU08euKMFTl4tsI

What's next for the US housing market

By Anna Bahney, CNN Business

Updated 8:53 AM ET, Tue August 2, 2022 

 

 

So far this year, the real estate market has not been going the way many prospective homebuyers had hoped. Home prices -- already at all-time highs -- have continued to climb and mortgage rates have risen much faster than expected.

While some buyers have forged ahead, others have put their home search on hold or have given up entirely because the rising costs have put ownership out of reach.

But as recession fears for the larger economy loom, the housing market is showing signs of slowing. Sales of new construction homes are down and construction is stalling. Sales of existing homes have dropped and are trending below 2019 levels. As mortgage rates remain above 5%, applications have fallen to their lowest level in 22 years. 

Still, neither home prices nor mortgage rates are expected to plummet and affording a home is likely to remain a challenge for the rest of the year, economists say. Home price gains are slowing, but year-over-year prices are still seeing double-digit increases. And the Federal Reserve announced another rate hike this week, which will keep mortgage rates volatile.

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https://www.cnn.com/2022/08/01/homes/housing-market-outlook-second-half-of-2022/index.html?fbclid=IwAR19yHnwjKi49iMRDO37MtVR0RCBHTCLVxvVLJSC1R4wFbY5KX28DjCqSJg

 

Coming this weekend - call or text Mike at 615-414-3270 for a private showing.

*607 Bristol Creek Drive, Nashville, TN 37221

*1152 sq ft., 2BR & 2.5BA

*$364,977

* Hip exteriors with contemporary, neutral interiors in this cozy

42 townhome community

* Open concept with tasteful design and finishes throughout ; durable laminate floors on main level

* Stainless steel appliances (refrigerator and microwave both less than a year old), granite countertops, and shaker cabinets in kitchen

*Master and secondary bedrooms with en-suite bathrooms and walk-in-closets

* Private back patio area with outdoor storage closet as well

* Courtyard landscaped with pet grass and community gazebo

with grill and picnic area

*Reasonable HOA fee of $120/mo includes exterior maintenance, insurance, mowing and landscaping, roof, trash removal, and common areas

*Convenient to the interstate and an easy commute to Vandy, Belmont, and downtown. Only 1.5 miles from all of the shopping and restaurants at One Bellevue Place and just minutes to the Warner Parks.

 

 

For The Love Of Old Houses

May 19 at 8:04 PM  · 

3137 17 Mile Drive, Pebble Beach, California 93953

c.1972. 2,200 square feet. 3 bedrooms 3 baths on 1.16 acres. $10,000,000!

A visionary home designed by modernist architect, Mark Mills, as "an unusually fine example of Organic Architecture." Inspired by shells found within view at nearby Fanshell Beach, the home's shape resembles a scallop shell, with five individual rooms making up the arches that each frame a different angle of the same magnificent coastal view. Inside, the home's stunning vaulted ceilings are composed of meticulous layers of concrete and wood beams, completing a captivating pattern. The property includes 2,200 SqFt of enchanting living space with 3 bedrooms, 3 bathrooms, an open kitchen and living space, bonus room/office, separate 2-car garage, and an almond-shaped pool in the center, all nestled into 1.16 acres of natural dunescape environment. Truly one of a kind and available now for the first time since built in 1972, this Pebble Beach icon represents a rare opportunity for world-class location, timeless architecture, and some of the best views on Earth.

For More Information: Tim Allen, Tim Allen Properties 831-214-1990

Photography Credit: Sherman Chu

Listing With Video: https://timallenproperties.com/.../pebble-beach-icon...

Cedar Rapids Iowa - another one gets moved & saved! The Buchanan Mansion, a 125-year-old brick house near Tipton that weighs more than 400 tons, started rolling down the road at 8:30 a.m. bound for its new location.
Dm for credit

1453 sq ft., 3BR & 2BA

$329,977

* All on one level in this active adult community.

* Gallatin's beautiful 55+ community - nearly maintenance free living

* End unit - terrific location in complex next to common space

* Floorplan includes living room with vaulted ceiling and fireplace, kitchen with stainless steel appliances, dining area, and three bedrooms with two bathrooms

* Attached 2 car garage and new HVAC in 2020

* Close to the lake, marina, and docks and convenient to shopping, restaurants, medical facilities, and parks

* HOA is $200/month and includes exterior maintenance, mowing and landscaping, roof, trash removal, and common areas (clubhouse, exercise room, outdoor pool, patio, horseshoe pits, bocce ball courts, walking trails)

 

Nashville named second-hottest job market in America in analysis from The Wall Street Journal, Moody's Analytics

https://www.bizjournals.com/nashville/news/2022/04/25/wsj-moodys-job-market-analysis.html?ana=TRUEANTHEMFB_NA&csrc=6398&utm_campaign=trueAnthem%3A%20Trending%20Content&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR3-kOVsEhY-w2OU41-oCfNEc5EdrFEpjb08y6RMpyt6J_LdvnTC4PWl228

3BR, 2BA, 2095 sq ft

$474,977

*Remodeled Donelson home that exudes style, charm, and uniqueness. Nothing cookie-cutter about this stunner. Meticulous sellers

*Vaulted ceilings in large, light-filled living room with wood-burning fireplace

*Renovated kitchen (in 2019) with new farmhouse sink, new quartz countertops, new Verona gas range with five burners, new dishwasher, new subway tile, new faucet, new disposal, and new light fixtures

*All new stylish Mohawk waterproof flooring downstairs in 2019 and upstairs in 2021

*Renovated bathroom downstairs in 2021. New floors, new bathtub, new mirror, new tile, new light fixtures, new shower hardware, new cabinet, and new toilet

*Renovated master suite bathroom with double vanities and walk-in-closet. Renovations include new toilet, new tile floor, refreshed cabinet, new hardware, new mirrors, new faucets and sinks

*New HVAC 2019, new water heater 2019, roof 2016

*Home sits on a third of an acre with an enormous fenced backyard. New fence and gate on both sides of the house to close in yard as well as updated deck

*Washer, dryer, and refrigerator all included with acceptable offer

*Attic and 2-car garage with additional storage

*Prime location in a quiet cul-de-sac with easy access to interstate - Just a mile to I40. Ideal location in this quiet & friendly community. Also, just down the road from Elm Hill Marina and Percy Priest Lake - and 4 miles to the airport and 11 miles to downtown

**Please call or text MIKE at 615-414-3270 with any questions or to schedule a showing**

Waiting on the Housing Market to Crash? Don’t, Experts Say. Here’s How Today’s Market Is Different From the Great Recession Housing Bubble

Jon Reed 

April 6, 2022 

Home prices are higher than they’ve ever been, and they show no signs of stopping. 

The median U.S. home listing price was $405,000 in March 2022, the first time it’s broken the $400,000 price threshold, according to data from Realtor.com. That is an increase of 26.5% over two years. 

Homebuyers might see similarities between what’s happening today and the 2006 housing market where home prices became increasingly unaffordable until the bubble burst, helping trigger the worldwide financial crisis we came to call the Great Recession.

Stressed-out buyers might be thinking these high prices are a bubble just waiting to pop again. In fact, 77% of homebuyers believe there’s a bubble where they live, according to a recent Redfin survey. 

https://time.com/nextadvisor/mortgages/mortgage-news/dont-wait-to-buy-a-home/?fbclid=IwAR0VS1BB71yhBO9-5M-SvsULnTcrjoe4EZJw3V-J6FfzJ1nm9U1O7l0GJzQ

Mortgage rates rise, inching closer to 5%

By Anna Bahney, CNN business

Updated 10:32 AM EDT, Thu April 7, 2022

Mortgage rates rose again this week, inching closer to 5%. The 30-year fixed-rate mortgage averaged 4.72% in the week ending April 7, up from 4.67% the week before, according to Freddie Mac. That’s the highest since December 2018.

Rates have jumped this year at a pace not seen in decades.

“Mortgage rates have increased 1.5% points over the last three months alone, the fastest three-month rise since May of 1994,” said Sam Khater, Freddie Mac’s chief economist. “The increase in mortgage rates has softened purchase activity such that the monthly payment for those looking to buy a home has risen by at least 20% from a year ago.”

https://www.cnn.com/2022/04/07/homes/us-mortgage-rates-april-7/index.html?fbclid=IwAR0xOKK-cQZYcPIFts0MjseidiAIWbliqkSLKBvqA_c3sWQ1lwOR1KK29KI

The Continuing Saga of Brownland Farm Development

By

 Lee Rennick

A little over two years ago Michelle and Robin Anderton, who own the land where the much-loved Brownland Farm horse arena and training ground is located, decided to sell the property after Sissie Anderton, who started the farm with her husband Mack, retired. The news of their desire to sell to a developer didn’t go down well with a number of people in the community, and the tale of all they and the developer have gone through to try to turn the property into a housing subdivision has been long and drawn out. Yet, the new Board of Mayor and Alderman recently voted to approve the applicants’ request to rezone the 234 acres from Agriculture District and Civic Institutional District to Planned District, which finally moves the issue forward.

https://williamsonsource.com/the-continuing-saga-of-brownland-farm-development/?fbclid=IwAR1Sdj_R0RGPGQFjnPCAB4fBrhRnQn40FT04L3iM6WKbSVa7BfAIZ95w2a4

The word is out! Franklin, Tennessee was named by The Wall Street Journal one of the world's "7 Buzzy Destinations" for 2022! We can't keep our small-town charm and hospitality a secret. This is perfect timing with the relaunch of our Franklin Locals program!

https://www.wsj.com/story/where-to-vacation-this-year-7-buzzy-destinations-0c9af86e?page=1&fbclid=IwAR14otp4TWK3wwt7eO6qWjc3sdH_YWnJ-pOKA8p5vh3GybhTPyro2zXkZ1Q

508 Windcrest Court, Franklin TN 37069

4 BEDROOM HOME IN SOUGHT-AFTER FIELDSTONE FARMS NEIGHBORHOOD

4BR, 2.5BA

2,813 sq ft

$774,977

- New granite counters, freshly painted interior and exterior, and new stainless steel appliances including refrigerator

- New SPC (stone plank composite) floors on entire main level - perfect for pets and 100% waterproof. New carpet upstairs as well

- 4 bedrooms plus office, living room, family room, and large bonus room upstairs

- All new bath and kitchen faucets, and ne lighting in bathrooms, hall, and dining

- New windows (to be installed as soon as they arrive)

- HVAC 2019. Roof 2017. Water heater 2019.

- Oversized fenced backyard with mature trees and new deck in 2021

- Terrific storage in attached two car garage and attic

- New washer and dryer are included

- HOA amenities include two pools, tennis courts, clubhouse, fitness center, and access to the parks and trails throughout the community

- Terrific location just 5 minutes from downtown Franklin, 10 minutes to Cool Springs, and 20 minutes to Green Hills

- Zoned for some of the best schools in middle Tennessee: Hunters Bend, Grassland Middle, and Franklin High.

- Walk to Publix, Walgreens, and elementary school

- Quiet cul-de-sac location in a wonderful, highly desirable Fieldstone Farms neighborhood

The 12 hottest housing markets in 2022

By Paul Centopani

Though many economists predict that home price growth will slow in 2022, a lack of available inventory will keep things competitive for buyers for the foreseeable future. 

With permanent work-from-home arrangements gaining popularity dynamics shifting, longstanding assumptions about the most popular metropolitan areas for homebuyers have been upended, with less visible markets gaining interest among those searching for a new home, according to the Emerging Trends in Real Estate 2022 report from PricewaterhouseCoopers and the Urban Land Institute.

 

https://www.nationalmortgagenews.com/list/the-12-hottest-housing-markets-in-2022?utm_source=audiencedev&utm_medium=social&utm_content=AllProspects&utm_campaign=facebook-keywee&kwp_0=2055798&fbclid=IwAR0KzVXlj9XoKDRxqJgnBvTrX1VfSBtr2muA8NnJtweiptgzwjUsizjy5vU

Home prices climbed in January as inventory fell to a new record low.

Home prices up 15.4% in January from a year ago

By Anna Bahney, CNN Business

 

Updated 12:25 PM ET, Fri February 18, 2022

The median price for a home last month was $350,300, up 15.4% from a year ago, according to the National Association of Realtors. It was not the highest median price on record, which was $362,800 last June, but it is the highest for the month of January, which tends to be a sleepier time for home sales.

"Buyers were likely anticipating further rate increases and locking in at the low rates, and investors added to overall demand with all-cash offers," said Lawrence Yun, NAR's chief economist. "Consequently, housing prices continue to move solidly higher."

Continue reading at...

https://www.cnn.com/2022/02/18/homes/us-home-prices/index.html?fbclid=IwAR2AL32Y7mFihwgZjXsmfGDdKu7e2AKbOYgcqB80pjFvPghm37Xv8MVG1oM

Contact Todd Edwards with questions or to schedule a showing.

https://www.realtracs.com/listings/2688976?fieldset=buying-agent&signature=hFPcLJNg3sshZ.Kria3vCQRZ7cKQqTNXinEXxOSzIP8X

https://www.williamsonherald.com/features/business/crye-leike-acquires-post-company-real-estate/article_db7717fe-8e8d-11ec-a946-a74df1f01c5a.html?utm_medium=social&utm_source=facebook&utm_campaign=user-share&fbclid=IwAR3X0MHQvS45pj0n6LvGbEe923Ho3C5hkcrdI104G06miTLr8ChgGB5XHSw