No Comments

Is Our Real Estate Market Turning?

Is our real estate market turning?

 

We all want to make wise, data-driven real estate decisions, right? To do so, it’s never been more critical to look beyond headlines and view numbers through an informed and historical lens.

Are We in a Slow Down?

While the market is normalizing a bit, demand in our area has more than doubled in the last decade. 2022 marks the second highest number of homes sales in history in Hamilton County…just 5% below the all-time high in 2021 (YTD).

Where Are We Headed?

Here at home, inventory is still at a critical low level, but up 3% from this time last year. The Greater Chattanooga area continues in its most robust market in history, driven by affordability, growing job market and mild climate.
TN RANKINGS:
  • 2nd lowest tax burden in the U.S.
  • #8 in U.S. for in-bound migration; 306 people moving into Chattanooga for every 100 people moving out.
  • The driving force in today’s premium-priced Real Estate market is the basic law of supply & demand. Economists predict demand will likely exceed supply nationwide for the next 4-10 years keeping prices and values at a premium.

Soooo… is it a Buyer’s or Seller’s market?

We’ll explore that next time…

For more Current Market Data, a conversation about your real estate goals or a complimentary property valuation, our expert Team of Agents, Researchers, Marketers, and Contract Specialists would be honored to put our 2 decades of experience to work for you at 423.413.4507.

 

No Comments

Is Chatt’s Real Estate Market “Unprecedented”?

It’s estimated, nearly 1/3 of America’s current home buyers are looking to relocate to a more affordable region.

This mass migration presents an opportunity for Tri-State property owners to capitalize on our region’s AFFORDABILITY.

 

While home values in the Chattanooga area are enjoying a steady rise,

local housing prices are 20% below the national average.

 

Combine our region’s affordability, natural resources, and business assets with
… and you get an unprecedented local Spring real estate market.

 

How can you maximize your investment in today’s competitive market? It’s our privilege to be your trusted resource. Contact our Todd Henon Properties Team  or reply to this email to begin the conversation.

 

Todd & Team

20+ Years Serving the Tri-State

Brittany, Rhey, Sabie, Angela, Melanie, Andrew, Beth, Jim, and Savannah

 

*Source: Greater Chattanooga MLS, **National Association of Realtors

No Comments

Is the Spring Market Looking Up?

As spring comes into bloom, the real estate world typically sees its busiest season, and 2022 is no exception. As of April 12, local homes under contract rose to 921, which was up from 809 just last month.*

 

With nearly 1/3 of current home buyers in the U.S. seeking to relocate to a more affordable region, (National Association of Realtors, 2.23.22), this spring season is shaping up to be yet another full real estate season.

 

The slow rise in inventory, plus more people planning to move this year could be another reason to consider putting your home on the market. Not to mention, Tennessee continues to be a top spot for said relocators.

 

For Sale: Signal Mountain Estate. Click to Learn More.

 

In 2021, Tennessee placed in the top three U-Haul’s top 50 states for growth analysis. Chattanooga has also made the rankings of several U.S. News listings including:

  • 49 in Best Places to Live in the US
  • 27 in Best Places to Retire in US
  • 3 in Best Places to Live in Tennessee

 

Additionally, Georgia remains one of the fastest-growing states in the U.S. and on the radar for many looking to make a move. “With a 10-year growth rate of 14.4%, Georgia’s state growth is more than 1.5 times that of the U.S. population growth rate. The state will add more people in the years to come; population projections forecast a 17.7% increase in Georgia’s population by 2030.” Bankrate.com

 

Whether you’re moving yourself, or hoping to capitalize on the growing market, our Team is here to help you know, understand and maximize today’s data and trends.

 

Comment below or contact us at 423.413.4507 to begin the conversation.

 

Todd & Team

Brittany, Rhey, Sabie, Angela, Melanie, Andrew, Beth, Jim, and Savannah

 

*Source: Greater Chattanooga MLS, Single Family Homes, Hamilton County

No Comments

What Do Rising Interest Rates Mean for Real Estate?

 

From Wall Street to local lenders, the country is seeing an uptick in interest rate percentages. However, experts are not alarmed, and we are directed toward a more balanced, appropriate, and fair market.

Whether selling, buying, scrolling Zillow, or a quiet observer, recent headlines make it impossible to miss that interest rates for home loans are beginning to climb.

Forbes recently shared how rates have steadily climbed from historic lows at 2.88% to now just over 3.4%.

 

 

 

Increasing Interest Rates May Feel Intimidating, But Consider This:

–– Mortgage rates are still near all-time lows ––

 

  • Sellers:  You can list without fear of rising rates. Our Tri-state market maintains record high sale prices and intense demand with no near end in sight. When appropriately marketed and priced, your property will attract qualified Buyers. (We also have strategies for the valid question, “If I sell, where would I go?”)
 
  • Buyers:  Higher rates may require tweaking your budget and strategy, but it will also lessen competition by weeding out some unqualified buyers.
 
  • Investors and Property Owners:  Your equity continues to grow. Let’s discuss if now is or is not the best time to capitalize on low inventory (fewer than 250 homes on the market in Hamilton County, TN).

 

So, with climbing interest rates and slowing home prices, what’s to love? Simply stated: balance.

 

Balance is gradually being restored, and the realm of real estate may be getting back in tune with something akin to harmony…especially in the height of the spring listing season just around the corner.

 

National Association of Realtors Chief Economist Dr. Lawrence Yun shared in a Tweet that “more residential construction and industry trade contractor jobs…are now far ahead of the numbers seen before the pandemic, implying more home-building and more supply are forthcoming,” giving a nod to the potential of new construction across the country.

 

Furthermore, in our local market, options are growing even as inventory stays low. New neighborhoods continue to rise especially in East Brainerd, Ooltewah, and Apison. Sale Creek and Soddy Daisy also offer hope for more inventory in the coming months alongside the new industrial park planned on the McDonald Farm property bringing mixed use and recreational venues. 

 

A recent story published in the Chattanooga Times Free Press also showed building permits being pulled at all time high for Signal Mountain’s Walden’s Ridge:

 

In 2021, homebuilders raced to pull new single-family home permits on the ridge amid a strong housing market countywide, figures show. New permitted residential units climbed 64% on the ridge last year compared to 2020, according to the Chattanooga-Hamilton County Regional Planning Agency…the most annually in at least 15 years.”

 
 
How can you maximize your investment in today’s competitive market? We are honored to be your guide. Contact our Todd Henon Properties’ Team or reply to this email to begin the conversation.
 

Here to serve,


Todd & Team
Brittany, Rhey, Sabie, Angela, Melanie, Andrew, Beth, Jim, and Savannah
423.413.4507
(P.S. Seeking a New Career? We’re Hiring.)

No Comments

If I Sell, Where Would I Go?

I Want to Sell While the Market is High,
But Will I Be Able to Find Another Home?

Image courtesy Chattanooga Times Free Press, Troy Stolt, photographer
 

With Chattanooga homes selling at historic highs in record speed, it can be a profitable time to sell.

[ Chattanooga home values are rising 22% faster than the national average.* ]

BUT, some potential sellers fear low inventory may make it difficult to relocate.

 [ 68% fewer Hamilton County homes for sale than this time last year* ]

 

Here’s our answer.

It’s absolutely true the real estate market is experiencing an unprecedented combination of historic conditions: 

  • Housing Shortage: Locally and nationally
  • Interest Rates: Near all-time lows. Current owners refinancing to stay put.
  • Demographic Shift: Millennials–largest generation in U.S.–hitting homebuying age
  • Pandemic Impact: Tennessee is #1 destination for COVID moves
  • Spring Market: Low inventory colliding with busy spring buying market

How Can We Help?

In today’s complex market, a “one-size-fits-all” mentality will NOT work. Our Team is here to help you analyze and maximize current conditions to meet your unique goals.

Set yourself up for success by leaning into the

This environment requires harder work, deeper experience, a broader network, and seasoned expertise by your real estate professional.

Don’t let fear prevent you from maximizing the market. 

Let’s have a conversation and allow us to put our 20 years of experience to work for you.

*Stat Sources: Chattanooga Times Free Press 2.23.21, 3.20.21, Tennessean 1.6.21

No Comments

4 Things to Know about the Chattanooga Real Estate Market in 2020

The state of real estate in our region is strong heading into the new year, with Forbes ranking Chattanooga #1 for job growth. Here are the 4 things to keep in mind regarding the 2020 real estate market…

📈…greater Chattanooga’s GROWTH. Chattanooga ranks #1 of U.S. cities for job growth in 2020 according to FORBES, while REALTOR.COM ranks Chattanooga #4 of “Top 10 Housing Markets in 2020”. Innovative downtown and exciting development will continue to change the Scenic City’s landscape.

📉…interest RATES remain low. “Most economists are predicting rates to remain below 4 percent in the coming year,” reports The Washington Post.

💰…accurately PRICED properties are still selling fast. We can market property extensively, but at the wrong price, the activity will be slow. When the price is aggressive, yet appropriate, properties can sell within days. 

🔨 new construction SHORTAGE. We are seeing the “new build” sector recover…if you can find the land to develop. Fannie Mae predicts 2020 housing starts will jump 10%, but there is a home-site shortage in Chattanooga. If you are considering building, investing, or developing, start your site search early.

In our 30 years serving in the TN, GA, AL real estate industry, we’ve helped our Clients succeed in multiple upticks and downturns. Whether your 2020 involves moving, investing, or simply monitoring the pulse of the market, we’re honored to be your real estate resource.

Here to help,

Todd Henon

Broker: TN, GA, AL

Top 1% Greater Chattanooga Realtors

Chattanooga’s Only Accredited Land Consultant


Todd Henon Properties is a leading Chattanooga-based real estate team serving Tennessee, Georgia and Alabama since 2000. Headquartered at Keller Williams Realty Downtown, Todd Henon Properties is in the top 1 percent of Chattanooga Realtors in sales volume and the top 3 percent of Keller Williams agents worldwide. Specializing in homes, estates, land and farms, Henon’s seasoned team of in-town, neighborhood, and acreage specialists are known for their expertise in traditional and unique properties at all price points.


Whether buying or selling, residential or acreage, in-town or rural, our Todd Henon Properties Team would be honored to assist you.

To learn how we can add value to your purchase or sale, contact us.

This blog was originally posted on January 18, 2020.

No Comments

Henon Profiled in National Land Magazine

Chattanooga’s Accredited Land Consultant and residential real estate veteran Todd Henon was recently tapped for his expertise in acreage: development, investment, and recreation. The quarterly, national Land Magazine is distributed nationwide to Land Buyers, Owners, and Brokers. Click here to view the Winter 2019 issue of Land Magazine online.

Read on to get to know Todd and the unique niche which has been thoughtfully layered onto Todd Henon Properties’ robust residential portfolio.

 Where do you live? Chattanooga, Tennessee 

Where do you work? Tennessee, Georgia, Alabama 

What drew you to ranch and recreational real estate? I grew up doing chores on my grandparents’ Kentucky farm, and caving, hunting and fly fishing from Florida to South Dakota. Passion for wisely stewarding the outdoors makes it a privilege to serve like-minded clients. 

What makes the corner of the world where you work special? The confluence of the Tennessee, Georgia and Alabama borders offers a lifestyle of year-round recreation gifted by the Tennessee River watershed and easy access to the Great Smoky Mountains. Sportsmen and landowners are drawn by our world-renowned outdoor opportunities: trout and bass fishing, hiking, rock climbing, hang gliding, hunting and boating. No Tennessee state income tax, affordability and top educational institutions make our area a desirable place to raise a family or retire. Within 90 minutes of several major cities, it’s not uncommon to walk out your back door to hunt deer or turkey in the morning then head to a Broadway show downtown that night. 

What are the three most important tools in a ranch broker’s kit? 1—Land app, 2—Intrinsic knowledge of land and creativity for its highest and best use and 3—in the South. . . Deet 

If you could call anywhere on the planet home, where would it be? Why? I love fly fishing and hunting around the world, but there is something special about coming “home” to Tennessee. Our scenic mountain views, clean waterways, vibrant wildlife in pastures and woodlands, colorful flora and fauna and our moderate climate are ensconced in entrepreneurial innovation and rich history. Especially with three grandkids nearby, my wife and I would choose our hometown of Signal Mountain, Tennessee, every day. 

What’s the most profound lesson you’ve learned from the land or its people? Responsibility and stewardship 

Listener or talker? Listener 

If you had one extra hour of time per day, how would you use it? Outside. . . whether helping clients develop vision around a piece of land, chopping wood or casting flies 

Would you rather be without Internet for a week or your phone? Internet. I can “old school” real estate on my phone and maintain a high level of productivity. Technology certainly makes our days more scalable, but there have been many-a-successful land brokers able to sell thousands of acres just by knowing his/her area and members of the community well. 

If you could give one sentence advice about how to live life, what would that be? Hard work + trust in God’s provision will win the day. 

Describe your perfect work day. Everyone on my team leveraging their gifts and talents at full capacity, while I guide a client through a sale or purchase that enables them to fulfill their vision and move into their next chapter. 

What is your most memorable deal to date? Lightning struck twice when our team helped sensitively transition our seller—an injured cattleman—from his beloved acreage by connecting him with an international dog field trial champion. After a nationwide search, we helped our buyer convert this stunning 193-acre Georgia farm into a beautiful home and perfect venue for global competitions at which our team pitched in to barbecue and extend Southern hospitality. It’s rewarding to see one property fulfill two important dreams. 


Todd Henon Properties is a leading Chattanooga-based real estate team serving Tennessee, Georgia and Alabama since 2000. Headquartered at Keller Williams Realty Downtown, Todd Henon Properties is in the top 1 percent of Chattanooga Realtors in sales volume and the top 3 percent of Keller Williams agents worldwide. Specializing in homes, estates, land and farms, Henon’s seasoned team of in-town, neighborhood, and acreage specialists are known for their expertise in traditional and unique properties at all price points.


Whether buying or selling, residential or acreage, in-town or rural, our Todd Henon Properties Team would be honored to share our two decades of experience with you.

To learn how we can add value to your purchase or sale, contact us.