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Knoxville Housing Market Snapshot | June 2023

Housing Market Snapshot | Knoxville | June 2023

ACTING WITH THE FUTURE IN MIND

The recipe that makes home prices what they are in the Knoxville area hasn’t changed over the past few months.  In short, the demand for homes still far outweighs the supply and continues to slowly push prices upward.   In fact, the average sales price for a home is up almost 13% compared to this time last year.

Mortgage rates haven’t changed much move the past 30 days.  The good news is that expectations from many economists and mortgage experts are that rates will begin dropping this year and could be in the 5% range by next year. 

The outlook on the US economy continues to improve as well.  The risk of a substantial real estate market crash coming anytime soon is minimal at this point.  In fact, many economists don’t foresee any recession in the near future.  And if a recession does transpire, it will be mild and not nearly as bad as the one that hit the United States in 2007. 

Our unsolicited advice?  Don’t try and time the market…  If you can afford to buy the house you want, then strongly consider buying it sooner than later.  With home prices creeping up, it may be wise to lock in at the current sales prices.   Once mortgage rates begin sliding back down, you can refinance your mortgage to take advantage of the lower rate and reduce your monthly payment. 

On the flip side, it’s still a very favorable time to sell your home right now.  We’ve seen many of our clients drastically improve their financial situations using the money they received from the sale of their homes. 

Got questions?  Contact HMG

Posted in: Knoxville Housing Market Tagged: home prices knoxville, housing market knoxville, real estate agents knoxville tn, real estate market knoxville, realtors knoxville tn

HMG Ranked One of the Top Real Estate Teams in the Nation

HMG RealTrends Rankings 2020

The Holli McCray Home Marketing Group is excited to announce that RealTrends has, once again, ranked us as one of the top real estate teams in both Tennessee and the nation!  The RealTrends “The Thousand” annual rankings report compiles sales and transaction data from real estate firms across the country to determine the top-performing agents/teams.  RealTrends is a well-respected organization within the real estate industry.  They maintain a strong grasp on areas such as the direction of the real estate market, real estate firm valuations, as well as mergers and acquisitions within the industry.

In their 2020 report that was released in June, HMG was ranked #54 in the nation out of thousands of real estate teams in their “Large Teams” category.  This ranking is based on the number of homes we sold in 2019.

RealTrends also released its 2020 “America’s Best” rankings that break down agent/team performance by state.  HMG was ranked #2 in Tennessee within the “Large Teams” category for both total sales volume ($113,524,786.71) and the total number of homes we sold (446) in 2019. 

 

 

We would also like to announce our top 5 HMG agents through the second quarter of 2020.  We’re so, so proud of their performances, especially in what has been an especially challenging environment these past 5 months…

HMG Top 5 Agents Q2 2020

Posted in: Best Real Estate Agents Knoxville Tagged: best realtors in knoxville, holli mccray, holli mccray group, real estate agents knoxville tn, realtors in knoxville, realtors knoxville tn, top realtors knoxville

How To Sell A Home With Pets

4 Tips for Selling a Home With Pets

How to Sell a Home With Pets

We love our furry family members, and apparently so doesn’t the rest of the country.  Recent surveys by the Humane Society of the United States show that approximately 79.7 million households in the U.S. own pets.  Are you one of them?  If so, it may take a few extra steps before selling your home, but the payoff will be well worth it.  Your Mission: Eliminate any and all evidence that a pet lives in the home for open houses, showings and listing photos.

Start Outside

The inside of your home may be top of mind when trying to keep everything looking presentable for potential buyers, but don’t forget the outside!  Dog owners — you know what we’re talking about!  Be sure all evidence of the dog is gone. That means picking up all dog waste (yes, even at the very back of your property line). The last thing anyone wants is a big mess on their shoes while touring your home.  Also, remember to collect any dog toys, water bowls, leashes, and even consider moving an outdoor doghouse into storage temporarily.

If You Can Smell It, You Can’t Sell It

Let’s talk pet odor.  There is nothing that can kill a showing faster than the smell of a cat litter box, wet dog, or pet dander.  Addressing the odors from pets is essential to selling your home in the least amount of time for the most money.  Masking pet odor with an air freshener, essential oils or candles is a band-aid is typically not a great solution.  It’s time to call in the professionals for a deep cleaning if the pet smell is coming from carpets or furniture.  If you’re unable to find a temporary spot to keep your feline when potential buyers are visiting, clean the litter box prior to a showing and dispose of the waste in an outdoor trash receptacle to manage the odor.

Hide the Evidence

Family pets leave a trail of evidence in their wake.  Eliminating pet hair and dander from furnishings, upholstery and carpets before a showing or open house is key.  Run the vacuum over every single surface with pet hair.  Additionally, put your pet’s belongings away.  That means food bowls, beds/furniture, toys and leashes.  Also consider that your pet may have done damage to the home, so fixing such items is paramount. Inspect doors for scratches and, of course, carpet stains which fall into the “odor” category above.  For more tips on keeping your home clean with pets, you may also enjoy these tips from Martha Stewart. (http://www.marthastewart.com/894553/clean-house-tips-pet-owners#396448)

Relocating your pet during a showing is the ideal situation.  Contact a local pet boarding facility before you put your home on the market to determine if that will be a good fit for you and your pet.  Or, contact a neighbor or friend/family member to see if they can keep your pet during showings when possible.  If you must keep an animal in the home while potential buyers are present, be sure it’s safely confined to an area where it cannot escape or make contact with the people coming in and out of your home.  A pet crate in the garage works well, or a dog run in the backyard if it still allows for the property to be viewed completely.  Whatever location you choose, try to make your pet as comfortable as possible to minimize stress and anxiety.

Insurance

It doesn’t hurt to double check your homeowner’s insurance policy and be sure there is adequate coverage in case of an accidental dog bite or injury while someone is touring your home.  Believe it or not, this DOES happen from time to time.

 

Thinking about selling your home in the Knoxville, TN area?  The expert staff at The Holli McCray Group is always available to answer questions you may have about getting your home ready to put on the market.  Feel free to contact us directly or or find out what your home is worth today.

 

Posted in: Home Selling Tips Tagged: how to sell my home, pet odor in my home, real estate agents knoxville tn, selling a house with pets, selling my home knoxville tn

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