You Never Know What's Going On Inside A Home(s)
In a recent Fox Business interview, real estate entrepreneur and “Shark Tank” star Barbara Corcoran shared her prediction for when home prices will rise, how much she expects them to increase and more.
Lower Interest Rates Will Mean Higher Home Prices
We’re currently experiencing a “bottleneck” in the real estate market, Corcoran said, but this won’t last forever.
“Sellers don’t want to move from their apartment or their home because they don’t want to take on higher interest rates,” she said, “and buyers are too afraid [to buy] because they are getting less house [for the price]. So you’ve got a standoff going on. But things are changing.”
Corcoran believes there will be a major swing in the real estate market as soon as interest rates drop.
“The minute those interest rates come down, all hell’s going to break loose and the prices are going to go through the roof,” she said. “[Right now sellers are] staying put. But they’re not going to stay put if interest rates go down by two points.
“It’s going to be a signal for everybody to come back out and buy like crazy, and the house prices [will likely] go up by 20%,” she said. “We could have COVID [market] all over again.” See less
Interest rates are up and the real estate market has not slowed down. It's still increasing.
Why Now Is a Great Time To Buy a House JustListedKnoxville.com
Interest rates should not stop you from owning a Home of your own.
Interest rates do affect house prices, and there’s typically an inverse relationship between the two. When the Federal Reserve raises interest rates, home buyers can’t afford expensive houses, so the prices will start to drop.
The reverse is also true – when mortgage rates are low, buyers have more money to spend, so home prices will start to rise.
Buying now locks in your home price ( when rates go down prices go up ), when interest rates come back down, you can refinance an old mortgage that you had at 6% or 7% or wherever it lands in the future.
The ideal scenario is to buy a home when both interest rates and home prices are low, but that isn’t always possible. So, as you’re considering home prices vs. interest rates, it’s important to keep in mind that one isn’t necessarily better than the other.
The housing market predictions are about as reliable as weather forecasts. That’s why it’s essential to do your research and ensure it’s the right time for you to buy before taking action in the market.
Online real-estate sites often are go-to places for buyers wanting to search local listings of homes for sale.
When you list your property with Imagine Real Estate Group your property will appear For Sale On the World Wide Real Estate Web sites including REALTOR, Yahoo, Zillow, Nextdoor, Trulia, HomeFinder, Cyberhomes, Homes, HotPads, Movoto, Oodle, Point2Homes, Homesnap, CLR, Vast, Move, MSN, Along with all the Imagine Priority websites and additional public real estate websites.
“And the display of information that we know will be accurate direct from the MLS.”
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When you list your property with Imagine Real Estate Group your property also will appear on Companies and Agent IDX real estate websites to include: Coldwell Banker® Century 21® GMAC ® ERA® Real Living® Re/Max® eXp Realty® Realty Executives® Sotheby's International® Weichert Realtors® Prudential® Southland Realtors® Exit® The Real Estate Firm® Real Estate Crye-Leike® Keller-Williams®
When you list your property with Imagine Real Estate Group Members Brokers and Agents That have direct Multiple Listing Service (MLS) access to your property information for their buyer: East Tennessee REALTORS®, Northeast Tennessee Association of REALTORS®, Tennessee/Virginia Regional MLS, Lakeway Area Association of REALTORS®, River Counties Association of REALTORS®, Greater Chattanooga REALTORS®.
When you list your property with Imagine Real Estate Group - Less Time on the Market - More Money Less Hassle - Fewer Reductions - More Multiple Offers. No one can list your house faster You can have your house On the World Wide Real Estate Web sites in as little as two hours. Get the value of your home NOW! https://knoxmoves.ilisttech.com/
Your Preferred Realtors® of Choice 2022 Michael Allen 865-803-3558 Direct/Text Broker/ REALTOR Mike@usit.net …. Steve Albin 865-964-9476 Direct/Text REALTOR/Broker
Multiple Listing Service (MLS) is reserved for its members: real estate agents and brokers and information is sent to their buyers. Internet Data Exchange (IDX) allows anyone to view these listings and perform a property search without an agent or broker’s help. Any appearance of an organization's name or logo on this website does not imply affiliation.
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Data shows more than 17,000 short-term rentals in Gatlinburg and Pigeon Forge; 2,000 in Knoxville
Properties that had at least one day booked or available during April 2023 were included in the map, according to AirDNA.
People traveling to East Tennessee likely stayed in the Gatlinburg or Pigeon Forge area, according to AirDNA.
The company tracks vacation rentals and analyzes data about occupancy rates, pricing and other kinds of data points. They found that in April 2023, there were just over 2,000 available short-term rental units in Knoxville. The properties included on the map had at least a day booked or available during the month.
In the broader Gatlinburg and Pigeon Forge area, they found there were almost 17,000 rental units. The company also said more than half of these units were cabins.
Airbnb, a popular short-term rental company, said they believed more people went to Gatlinburg and Pigeon Forge for Memorial Day because of the weather and the number of available summer activities.
"I just can't imagine a better place to be right here, right now, than in East Tennessee. I mean, the weather's perfect. You're up in the mountains, grills everywhere. I mean, it's just explosive popularity," said Ben Breit, a spokesperson for Airbnb.
They expect to see another spike in short-term rentals during football season in East Tennessee.