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Oct. 18, 2019

September Chattanooga Real Estate Market

September Chattanooga Real Estate Market

Little by little the average days that houses are on the Chattanooga real estate market has increased from July through September.  In September, the number of days a Chattanooga house is on the market jumped by 19%, which is a pretty large one month change.  In other words, homes are taking a bit longer to sell right now.

Closed Chattanooga home sales were still up in September by 11.5%.  That leads me to believe that lower priced homes are still still selling quickly and for more money, but the more expensive homes are taking more time to sell.


In September, Chattanooga home sellers also got an incremental % less (-.5%) of the % of the list price.  

The Chattanooga real estate market is still a good market with good market fundamentals, but the market has slowed some since the spring.  Turmoil in Washington, D.C. may be playing a small role on consumer confidence as well. 

Call Nathan Walldorf at 423-544-7700

Posted in Market Updates
Sept. 27, 2019

Chattanooga Real Estate Is Changing in the Fall

Chattanooga Real Estate Is Changing in the Fall
The spring real estate market was really busy and prices were high (in most areas of town).  As the summer came and people went on vacation, homes started to take a bit longer to sell. The August home sales just came in, and they are also showing that it is taking a bit longer to sell.  We are not facing an extreme change yet, but Realtors cannot simply look at spring pricing to price a home for sale today.  Realtors are having to look at the homes for sale right now as well to be in line with the market.  To sell a home now, you have to price your home in a way that does not put you way above your competition.   
Homes took 2.4% more days to sell in August.
Closed home sale were up 3.6%.
Median home sale prices were also up by 6.4%.
The monthly supply of homes for sale was down 18.4%.

In these stats we see that the rises in both closed home sales and in the median home sale prices are about 1/2 of what they were in the previous month.  The amount that 2019 is outpacing last year is starting to slow down a bit.  The real estate market is still good.  If you are thinking about selling a home, do it now.  You want to sell your home as close to the top of the market as you can, and we are probably close to the top if not slightly below it.


Call Nathan Walldorf to sell your home and buy a new one at 423-544-7700

Posted in Market Updates
Aug. 28, 2019

Chattanooga Homes Take a Bit More Time to Sell in July

Chattanooga Homes Take a Bit More Time to Sell in July

The most telling statistic from the latest Greater Chattanooga Realtors real estate market report is that homes are spending 5% more days on the market in July.  Realtor are seeing the fast pace of real estate from the past 2 years slow a bit lately.  Home prices are and have been outpacing median household income growth for months.  In certain popular areas of Chattanooga, Realtors are seeing it take more time for homes to sell and are seeing home buyers reject aggressively priced homes.  Sellers are having to reduce their prices to a level that home buyers are willing to pay.


The Federal Reserve did lower interest rates recently, which does help home buyers afford more in their home, but home buyers are still being careful.


That does not mean that the market is not good (the market is still good).  Closed home sales were up by 9.6% in July and the median sale price was up by 12.7%.  Homes that are under contract to sell (pending home sales) were up 15.2% in the Chattanooga area, so that means that the August closed home sales will be up.  Realtors expect pending home sales to be down in August as the market activity has been slower in August.  The monthly supply of homes for sale was also down 13.9% in July.  There are 3.3% more listings that came on the market in July, but the continued lack of inventory does push pricing up and create increased competition for the homes that are for sale. 


The Greater Chattanooga Realtors market report does warn of a bit of an economic slow down, "Although the economy should continue to perform well for the rest of 2019, most economists see a mild recession on the horizon."  Chattanooga Realtors are seeing the real estate market slowing a bit locally in August.  September, October, and November are all great real estate month, so we will see how the market fares in the months to come.


Call Nathan Walldorf to buy or sell your home at 423-544-7700.

Posted in Market Updates
April 25, 2019

Airbnb for Sale in Chattanooga TN

Do you want to own an Airbnb in Chattanooga, TN?

522 Beck Ave would be a great property to own as an Airbnb.  The property is located a few blocks away from Frazier Ave522 Beck Ave Proximity to the TN River in North Chattanooga.  1 block away from the property is the trendy North Chattanooga restaurant, Aretha Frankenstein's.  Most people who visit Chattanooga want to be able to walk to places like Coolidge Park, the Walnust St walking bridge, restaurants, and bars.  Being on Beck Ave, you can walk down Tremont St to Frazier Ave and access all of those attractions. 

Airbnb reported that Airbnb hosts earned $11 million in Chattanooga in 2018.  110,000 Chattanooga visitors stayed in Airbnbs in Chattanooga last year. 

Realtor, Nathan Walldorf, worked with the City of Chattanooga during the creation of the Short Term Vacation Rental permitting process, so he would be happy to guide you through the process.  

To see 522 Beck Ave call Nathan Walldorf at 243-544-7700.

The Group Real Estate Brokerage



Posted in Buying a Home
April 10, 2019

4 Signs It Is Time to Sell Your Home

4 Signs It Is Time to Sell Your Home

1) You have outgrown your current home.  Do you have more pets, more kids, or more stuff in your current house?

2) Your lifestyle is different.  Maybe you need a home office now.  Maybe you do not want to take care of a large yard.  Maybe you need to be in a different part of town.

3) Remodeling will not yield a higher return.  Do not remodel your home if your home will not be worth the money that you have in it after the remodeling is through.

4) Your time frame is flexible and your home prices has risen. If you have the time to sell your home, you may have a good amount of equity in your home right now that you can use for a nice down payment on another home.


Posted in Selling Your Home
April 5, 2019

National Existing Home Sales Up 11.8%

The latest national existing home sales made one of the largest jumps ever in February. There was an 11.8% increase in existing home sales. Though existing home sales were up 11.8% February home sales were down from last February's home sale by 1.8%.  During February 2018 there was a buying frenzy with multiple offers to start out that year.  The National Existing Home Sales Up 11.8%median home sales price was up by 3.6% matching wage increases according to Lawrence Yun, the National Association of Realtors (NAR) Chief Economist.   That is good news when the rising home prices have been outpacing wage growth for most of 2018.  The national supply of homes for sale is up by 3.2%, which is also good news towards normalizing the real estate market.  Homes are selling 8% slower than last year (37 days last year compared to 44 days this year).  That is still not much of a difference, but the home buyer pace may be less frantic than in 2019.  If you put together the wage growth + low interest rates (due to the Federal Reserve deciding not to raise rates this year) + extremely low unemployment + a slightly slower homes sale pace, you get a very strong real estate market.

Locally, in Chattanooga real estate, it has felt like the real estate market shifted into high gear in March.  After the record breaking rains stopped, people started looking at homes and buying homes at a fast rate.  I had 5 closings in the first week of April, meaning home buyers were busy in March.  April has started out with many new contracts to purchase as well.  Most agents I am speaking with have had the same high level of home buying and selling traffic.

Both in Chattanooga and nationally, moderately priced homes are still in short supply.

Posted in Market Updates
March 28, 2019

Realtor Nathan Walldorf Earns His CRS Designation

Realtor Nathan Walldorf Earns His CRS Designation

Nathan Walldorf of Chattanooga, TN, has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Residential Real Estate Council, the largest not-for-profit affiliate of the National Association of Realtors.  To earn the CRS designation one must complete advanced professional training and demonstrate professional achievement in residential real estate. Only 29,000 Realtors nationwide have earned the credentials. A CRS designee has been trained to use the latest technologies, and are specialists in helping clients maximize profits and minimize costs when buying or selling a home.

Nathan Walldorf says the following about his new designation, "The CRS course work is the best course work that I have taken out of any individual class or any designations that I hold. I always want to give my clients the best service that I can, so I decided to earn my CRS designation.  I'm now part of a network of the best residential Realtors in the country, and the designation requires really good continued education to maintain my CRS status."

Let Nathan Walldorf know if you need any help buying or selling a home in the Chattanooga area.  He'd be happy to give you 5 stars service in the process.


March 21, 2019

Home Showing Checklist

Here is a great home showing checklist from Inamn News.

1. Dust and sweep. Sweep the kitchens, bathrooms, and entry.  Be sure to dust off the window sills, baseboards, furniture, TV screens, and computer screens. Make it shine.

2. Wipe off your counter tops.  No one wants to see your toast crumbs from breakfast, so wipe off your kitchen counter tops. Remove the small appliances on your kitchen counter tops to de-clutter as well. Make your bathrooms be clear and clean.  Fresh towels in the bathrooms help also.

3. Make the beds.  All of the beds in your house need to be made.  Throw pillows and new/neutral bead spreads can elp make the room look great also,

4. Remove garbage & pet supplies. Empty the garbage cans, so you don't leave any bad odors in the house.  Make sure to empty the diaper pail (if you have one). Keep the kitty litter clean and the dog beds clean also.

5. Vacuum the carpets. 

6. Open the blinds, shades, and/or curtains. Turn the lights on in your home before a showing but also be sure that all of the window treatments are letting in the light. Most people don't want a dark home.

7. Load the dishwasher + washer and dryer. Get the dishes out of the sink.  Put the dishes in the dishwasher.  My mom even drove around with a drying rack full of dishes in her car during a showing once.  Pick up clothes and put them in hampers or in the washer.

Make the front door porch and patio look good.  Be sure to leave the home picked up and your home will be ready to show.



Posted in Selling Your Home
Feb. 28, 2019

2018 Chattanooga Home Sales Annual Report

2018 Chattanooga Home Sales Annual Report

2018 was a good year in Chattanooga real estate.  1.9% more Chattanooga homes sold in 2018 than in 2017. Homes sold at a feverish pitch through the spring and summer of 2018.  In August, home sales started to slow a bit.  Fall of 2018 was steady but down from a year earlier.  Overall, the median sales price rose by 6.9% in 2018.  The days that homes stayed on the market decreased by 15.3%.  Throughout the year, home sellers received 96% of their listing prices for their homes. The monthly supply of homes for sale was down by 6.1%.

As 2019 starts, home buyers have slowed down a bit, but we have had good activity from home buyers looking at homes to purchase.  In January, closed home sales were down 11.6% from last January's closed home sales.  2019 will probably be the year when the Chattanooga real estate market evens out and becomes less of a seller's market.  Right now, the market still favors sellers, but that dynamic may change by the end of 2019.  The Chattanooga jobless rate is even lower than the rest of the country at 3.1%, so Chattanooga's local economy is outpacing the national economy.  That is always good news for the real estate market. 

Call Nathan Walldorf to buy or sell your next home at 423-544-7700.

Posted in Market Updates
Feb. 1, 2019

Why It's a Great Time to Sell Your 1st Home

Why It's a Great Time to Sell Your 1st Home

If you purchased your 1st home or your entry level home a few years ago or more, now is a great time to sell that home and move up to a larger one.  Entry level homes are in high demand right now, since the inventory of those types of homes in Chattanoooga, TN is so limited.  I just put a home on the market in Red Bank that I sold to a client a little over 2 years ago. Their home sold in 24 hours for $5,000 more than what the seller was asking for the home.  The home seller can now focus on finding the home that they will move into next. 

In the late fall, when home sales are supposed to be slow, I helped another home owner sell their 1st home within a few weeks of putting it on the market and then buy a larger home.  The whole process happened smoothly. 

You can get more money out of your home right now and then quickly move on to your next home.  When you go from being a home seller to a home buyer, you cannot waste time.  You have to make acceptable offers on the houses that you want in order to avoid a bidding war with someone else and in order to get a home securely under contract.  Once you have the home you want under contract, the seller of that home cannot sell the home to anyone else unless the sale falters over a contract contingency.  Call Nathan Walldorf at 423-544-7700.  I'll take you to coffee and explain the whole process.  I look forward to hearing from you soon.


Posted in Selling Your Home