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Kathryn Lovell, Broker, CDPE, SFR, e-PRO
RE/MAX Preferred Properties, Inc.

953 Dolly Parton Parkway, Sevierville, TN 37962
Direct 865-740-4877
Office 865-392-5885
 Fax   888-901-4030
Each office independently owned and operated
TN License-315211

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Be Quiet Chicken Little! Real Estate is Just Fine!

Be Quiet Chicken Little! Real Estate is Just Fine

Be Quiet Chicken Little! The Sky is Not Falling | Keeping Current Matters

The latest Existing-Home Sales Report from NAR revealed that sales decreased 1.8 percent in August. Many might start to panic, but let’s see what the report really shows.

Lawrence Yun, NAR chief economist explains “there was a marked decline in all cash sales from investors. On the positive side, first-time buyers have a better chance of purchasing a home now that bidding wars are receding and supply constraints have significantly eased in many parts of the country.”

There is Still A LOT of Good News:

  • The median existing-home price for all housing types in August was $219,800, which is 4.8 percent above August 2013. This marks the 30th consecutive month of year-over-year price gains.
  • 40% of homes sold in August were on the market for less than a month.
  • Distressed home sales remain at single digits for the second straight month, at 8%, down from 12% last year this time.
  • More buyers qualified for mortgages to purchase a home in August, as evidenced by the decline in the number of all cash buyers from 29% to 23%.

New Home Sales Surge:

Newly built single-family home sales surged 18% in August, the highest level in six years according to new data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

The Experts Agree:

“This robust level of new-home sales activity is a good sign that the housing recovery is moving towards higher ground,” said NAHB Chief Economist David Crowe. “Historically low mortgage rates, attractive home prices and firming job and economic growth should keep the housing market moving forward in 2014.”

Yun adds, "As long as solid job growth continues, wages should eventually pick up to steadily improve purchasing power and help fully release the pent-up demand for buying.”

Bottom Line

Now is still a great time to buy a home, whether as a first time homebuyer or you’re moving up to the home of your dreams, don’t let the headlines scare you from making the best decision for your family.

 

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Testimonials

Kathryn actually sold 2 homes for us. She is WONDERFUL. Had other agents on both houses before who just didn't do much but when Kathryn listed the houses, both (2 years apart) were sold within a month. She knows how to promote and is always there for you for questions and issues. I would highly, highly recommend her if you want to get your house sold! Darleen
Thanks for all your help in making our "dream home" a reality. We really appreciated that you went the extra mile to get us the best price for our home. You are truly a professional. Carson and Judy Blake
Kathryn Lovell is truly a phenomenal real estate agent and the epitome of professionalism. She is knowledgeable, experienced, communicative and has a strong internet presence. Everything we were looking for in an agent. She went above and beyond to make sure our cabin sold fast and flawlessly. Angie Underwood
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