What’s Been Happening in the Chattanooga Market?





In the spirit of election season, today we are going to be giving you a “State of the Union” for Chattanooga and North Georgia real estate. It was an awesome year for our market; here are some changes you should be aware of.
The biggest news is the absorption rate. This figure measures how much inventory we have on the market by determining how long it would take to sell all of the current inventory if no new homes came on the market. At the end of 2014 our absorption rate was at about 9.2 months. Right now, it is down near just 6 months. This means the market is moving faster and homes are selling quicker, which brings us to the next biggest item: days on market.
The average days on market here in North Georgia has decreased dramatically over the last year. In 2014, a home was on the market for an average of 140 days. Today, that average is down an incredible 50% to 70 days.


Another big increase we saw was in the average home sale price. It rose from $167,000 at  the end of 2014 to $181,000 in 2015. A dramatic appreciation of $15,000-$20,000 in home values is incredible. There has never been a better time to sell.


Certain price ranges saw even bigger increases in home appreciation. The $200,000 to $250,000 market had an increase of over 25% in appreciation, and the $300,000 to $400,000 market saw an increase of over 30%!
As for our team, we are excited to announce we were number one in our market here for the 3rd year in a row, selling almost $70 million in real estate. We are so appreciative of all our dedicated agents, as well as all our customers who choose to work with us. We are honored to be in business with you.

If you have any questions, give us a call or send us an email. We would love to speak with you!
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Location: Chattanooga, TN, USA

Buying and Selling in North Georgia During the Winter



Today we'll discuss why you should buy or sell during the wintertime. Many people think that the market slows down in the winter, but studies have shown that January and February are some of the best months to be on the market!
Even during Christmas, we are incredibly busy. Your house is all decorated for the holidays. It's a fabulous time to have buyers come through. Not only that, but buyers this time of year are serious. They are more qualified, and if they're out looking at homes in the snow, you know they're not just kicking tires.

Also, winter sale prices tend to net the seller more money. That's because sellers don't have as much competition during the winter. Almost everyone thinks they should wait until the spring, but that's too late. Listing in January or February gets you the best prices.
As a buyer, there's more competition for you in the spring as well. If you buy a home now, you're far less likely to get caught up in a bidding war. Another reason to buy now is that you'll see how the home performs during bad weather.
If you have any questions or would like some tips on where the deals are out there, give us a call or send us an email. We look forward to hearing from you!
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Location: Chattanooga, TN, USA

Avoid These 3 Common Mistakes for a Smooth New Construction Process



Are you thinking about buying a new construction home here in North Georgia? If so, you've come to the right place. Here are three common mistakes to avoid when buying new construction:
  1. Failing to hire a real estate professional to represent you: If you are going to court, would you represent yourself? If you have an ailment, would you trust a friend to diagnose you, or would you rather see an expert? A real estate professional will protect your interests when you go to negotiate a new home purchase.
  2. Do your research: Some builders simply aren't reputable; you can't pick one without giving it a good deal of thought. There are many ways you can find out which builders are reputable. One of the most important things you can do is find a builder who is going to stand behind their product.
  3. Read the fine print: Builder contracts are set up to protect their interests. You need to ensure you are not getting fooled or taken advantage of in the contract stage. Again, working with a good Realtor is a great way to avoid problems with this part of the process.
If you have any questions about buying new construction, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to help you make smart decisions in our marketplace.
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Location: Chattanooga, TN, USA
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