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Is The 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
April 14, 2022 No Comments
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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
From Wall Street to local lenders, the country is seeing an uptick in interest rate percentages. However, experts are not alarmed, and we are
I Want to Sell While the Market is High,But Will I Be Able to Find Another Home? With Chattanooga homes selling at historic highs
The state of real estate in our region is strong heading into the new year, with Forbes ranking Chattanooga #1 for job growth.
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.
Listen >> 3:54 Minutes “One of the biggest housing booms in U.S. history,” is what top economists are calling the current market. Since 2012, home
Todd Henon, three decade veteran in the Chattanooga real estate industry, was interviewed and featured in a recent issue of Chatter Magazine. “The Chattanooga
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.
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:
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
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%.
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.”
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.)
It’s absolutely true the real estate market is experiencing an unprecedented combination of historic conditions:
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
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.
This blog was originally posted on January 18, 2020.
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.
is what top economists are calling the current market. Since 2012, home prices have risen 50% nationwide, NPR reported yesterday.
Our local Chattanooga market has seen exponential growth–thanks to Volkswagen, Amazon, and our extensive outdoor activities–with the 2018 population coming in over half a million residents. Tennessee’s population has grown to 6.77 million as of January 2019. These factors contribute to the “explosion in demand” NPR’s Greg Rosalsky references in the NPR report.
Skylar Olsen, the director of economic research at Zillow, says this increase in home values has been driven by an explosion in demand. This demand has been fueled by low interest rates, an improving economy.
GREG ROSALSKY, NPR NEWS
And right now it’s clearly good to be selling a house. Since home prices hit their bottom after the crash, we’ve seen one of the biggest housing booms in U.S. history.
GREG ROSALSKY, NPR NEWS
If you’re ready to maximize this historic market or curious what it means for you, let’s have a conversation. We’re honored to be your real estate resource.
Todd Henon
Broker: TN, GA, AL
TODD HENON PROPERTIES
“The Chattanooga area has seen a steady increase in log home sales over the last few years as more homebuyers realize just how promising the Walden experience can be for themselves.
The upward trend began five years ago, as the market began to recover from the 2008 housing crisis, says local Realtor Todd Henon, of Todd Henon Properties. Though the log cabin niche of the housing market took longer to recover than traditional homes, the passion for log home living never dwindled.
‘These buyers have oftentimes longed, searched and hoped for years to turn their dream into a reality,’ says Henon. ‘For some families, log homes are a bucket list property, and being able to purchase that log home is a benefit in and of itself.'”
Read the full article here.
Todd Henon Properties 423.413.4507 direct Info@ToddHenon.com Keller Williams Realty Greater Downtown Realty 1830 Washington Street Chattanooga, TN 37408 423.664.1900
Todd Henon Properties 423.413.4507 direct Info@ToddHenon.com Keller Williams Realty Greater Downtown Realty 1830 Washington Street Chattanooga, TN 37408 423.664.1900
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