Author Archives: Lakewood Realty

As of July 2024, the median home price for the Nashville-Davidson-Murfreesboro-Franklin metropolitan area was around $447,000, a 2% increase from a year earlier. According to one prominent forecast, the Nashville-area housing market could flatline over the next year, at least where home prices are concerned. Zillow predicted the median home price for this metro wouldContinue reading “Forecast: Home Prices Will Flatline Into 2025”

Whether it was a soaring stock market defying constant expectations of doom, a job marketrefusing to quit despite higher interest rates from the Fed or a housing market largely frozen in place due to steep mortgage rates, 2023 was full of surprises. In 2024, we’ll find out if the housing market can enjoy the sameContinue reading “Looking Ahead: Will the 2024 Housing Market Slowly Unfreeze?”

Move in applicable markets expected to cost industry group $1M annually: CEO Kelman The sexual harassment scandal rocking the National Association of Realtors triggered a major residential player to pull its brokers brack.  Redfin is requiring its agents to cancel their membership in NAR where possible, according to an announcement. The move from the Seattle-based brokerage,Continue reading “Redfin rebukes NAR, pulls back agent memberships”

If you’re selling a residential or commercial property, getting a top-notch broker’s opinion of value can work in your favor. You’ll want to work with someone who is aware of what has sold in the past in the market, along with the current environment. It will be helpful if the broker has access to additionalContinue reading “4 Tips To Get A Great Broker’s Opinion Of Value”

NAR identified 10 real estate markets that it expects to outperform other metro areas in 2023. In order, the markets are as follows: “The demand for housing continues to outpace supply,” Yun said. “The economic conditions in place in the top 10 U.S. markets, all of which are located in the South, provide the supportContinue reading “Top 10 Real Estate Markets to Watch in 2023 and into the Future”

Like many major cities across the country, the Nashville metro area real estate market has cooled considerably over the past six months. Once considered one of the hottest housing markets in the country, Nashville is now experiencing a major slowdown in home-buying activity, along with sustained inventory growth. What does this mean for 2023? AmongContinue reading “The Cooldown: How Nashville Could Become a Buyer’s Market in 2023”

Mortgage rates have changed dramatically since the start of the year. The average rate for a 30-year fixed rate has doubled since sitting around 3% this time a year ago. High inflation is a major cause of rising rates, along with the Federal Reserve’s increases to its own interest rate to quell that high inflation.Continue reading “Current Mortgage Rates, September 29, 2022 | Rates March Closer to 7% in Week After Federal Reserve Hike”

At the national level, housing affordability declined in March compared to the previous month according to NAR’s Housing Affordability Index. Compared to the prior month, the monthly mortgage payment increased by 9.7% while the median family income increased by 1.1%. Compared to one year ago, affordability declined in March as the monthly mortgage payment climbedContinue reading “Housing Affordability Conditions Take a Hit in March”

Between inflation, supply chain woes and higher prices, it’s going to be a tough market for homebuyers. The last 22 months have been some of the wildest in real estate history, as the COVID-19 pandemic accelerated the speed and intensity of recent trends. Home prices surged to record-breaking highs. Interest rates dropped to historic lows. And,Continue reading “What to expect from the housing market in 2022: Another sellers’ market”

You see these “Guaranteed Offers” marketed everyday in the real estate business. Another way these type of deals are marketed is “We Buy Houses”. There are several ways these programs work. The most important thing to know is that you will sign an agreement with terms. Just the same way you sign an agreement withContinue reading “The Guaranteed Offer”