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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
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A multiple listing service (MLS) is a database of broker-listed homes. Only real estate agents and other professional affiliates can access an MLS. https://www.thebalancemoney.com/what-is-mls-1798770 Definition and Example of an MLS
An MLS is a private, online database used by real estate agents to make buying and selling homes more efficient. Every home for sale listed by a real estate agent is entered in an MLS unless it's specifically exempted. Only real estate agents and other professional affiliates can access the MLS, but that doesn't mean a homebuyer or seller can't get similar information elsewhere.
Popular sites such as Zillow and Trulia may include many of the same listings but without the comprehensive information found in an MLS. Some national real estate chains such as Re/Max will also pull listings from MLS to display on their websites.
MLSs are regional, and there are more than 800 around the country.1 Listings brokers enter the data about a home that's for sale, and they offer to share the commission with a broker who brings in a buyer. Buyer's agents can then look through the listings to find homes that their clients might be interested in viewing.
Listings contain all of the specifics about a home, including the address, age, square footage, number of bedrooms, number of baths, upgrades, and school districts. They also include other helpful information, such as the seller's preferred type of financing and photographs of the property.
Many websites offer to provide homebuyers with a list of available homes on the market, but few provide the comprehensive data found in an MLS. Your real estate agent can provide you with data from an MLS, though.
There are many types of reports a buyer can receive, so ask your agent for the most comprehensive MLS report. An agent can enter your name, email, and home search preferences into a search engine on the MLS so that it will send you automatic emails of new listings.
Note that not all agents will set up a search for you other than active listings. You'll have to specify any additional required information such as price reductions, pending sales, or sold sales data. You can further refine your search within these parameters to any number of criteria, including price ranges from low to high, the number of bedrooms and baths, garages, pools and spas, and square footage.
Your requirements can be even more clearly defined, depending on your priorities. However, if you narrow your scope too much, you could miss out on opportunities. It's best to keep the list somewhat general, since some MLS data fields might not contain information, due to human error.
You can request to have your MLS report customized by ZIP code or by a radius search within a specified distance from a target address. You also can request a sort by street or subdivision, or ask for a map search within boundaries.
Homebuying and real estate apps, such as Realtor.com, Trulia, Zillow, and Redfin, all provide access to listings. They may not have access to all of the listings on an MLS, but if you're not working with an agent yet, these sites can give you an idea of what's available in your target areas.
You may also want to check for sale by owner (FSBO) sites for off-market listings. FSBOs can only have their homes included in an MLS by paying a flat fee to a discount real estate broker to enter the information.
If you're in a high-profile market like New York City, you can also check brokerage sites. Large brokerages may use their own databases rather than listing their properties with an MLS.
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.
Imagine Real Estate Group KnoxMoves.com and JustListedKnoxville.com team up with big online real estate marketers.
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.”
But Wait There’s MORE ….. Get the value of your home NOW! https://knoxmoves.ilisttech.com/
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.
Below you'll find our BBQ recipes.
Barbecue Chicken Halves I’m calling this Half-Chicken Heaven! This is how you turn a basic whole chicken and make it BBQ Special! I brined my chickens, halved them and smoked them over hickory wood. After 1.5 hours, I wrapped them with butter and let them get good and tender. But after they come out the wrap, they are pretty ugly …
“Fall Off The Bone” Ribs There is a point where ribs are JUST RIGHT tenderness… and everyone has a different opinion on where that point is! Some folks like their ribs to be more of a “competition” texture and to have more of a bite. But A LOT of folks want their ribs falling off the bone. And this method …
Beef Cheek Birria Tacos My Birria Tacos recipe is smokey, cheesy, crispy and delicious! If you don’t have beef cheeks, you could use chuck roast and cook them the exact same way… Season with Malcom’s Grande Gringo Mexican Seasoning and smoke for a couple hours to get some flavor and good color on the meat. Then make a flavorful mixture …
Double Smoked Easter Ham with a sweet, Brown Sugar & Honey Glaze Easter is here and spring is springing! And that means it’s time to plan the Easter Dinner – and decide what’s going to be the big, delicious centerpiece of your Easter Meal. WHAT MALCOM USED IN THIS RECIPE: Killer Hogs The BBQ Rub 6″ Boning Knife – Red …
Boiling the Best Crawfish At Home This recipe is a simple, one-pot crawfish boil method that cooks a perfect sack – with all the fixings – and with a little spice. And you know I got this cajun crawfish boil loaded with corn, potatoes, sausage and mushrooms. WHAT MALCOM USED IN THIS RECIPE: – Malcom’s King Craw Crawfish Boil Have …
Sausage Seasoned Ribs Country Sausage Seasoning on a rib is mighty delicious. I’ve used my sausage seasoning on pork butts but never tried it as a rib rub until now. But let me tell you it’s good! The perfect blend of peppers, salt, herbs, and a little brown sugar creates a savory bark with a touch of bite that has …
Boudin King Cake topped with a Crawfish Cheese Dip Quick, Easy and Delicious! This is a different take on a King Cake. Your traditional King Cakes are a sweet pastry with an sweet icing. But I’m switching it up and doing a spicy, savory King Cake Recipe using Boudin Sausage and a Crawfish Cheese Dip. Then to really take it …
WalMart Prime Rib For this recipe I picked up a nice, boneless, 5lb Prime Rib Roast from WalMart for about $66… and I turned it into something that is worthy of that Holiday Table. I seasoned it with beefy flavors, garlic and onions and then smoked it on a pellet smoker with Hickory pellets until it was medium rare (120 …
Mesquite Smoked Turkey Smoked Thanksgiving Turkey Recipe – brined with sweet tea, spatchcocked, injected and seasoned with Texas flavors, then smoked over mesquite wood for a flavorful, beautiful, juicy, smoked turkey. WHAT MALCOM USED IN THIS RECIPE: Malcom’s Bird Brine Meat Bags Pitmaster Meat Scissors Meat Church Holy Gospel Killer Hogs TX Rub Killer Hogs Hot Sauce Thermoworks DOT Malcom …
Smoked Fried Turkey I brined this 12lb bird, then smoked it on a pellet grill until it hit around 150° internal, then I dropped it in 350° peanut oil until the breast was 165° in the breast. And as soon as it came out of the hot oil, I gave it a good shake of my cajun seasoning…. This turkey …
Cajun Pork Loin Sandwich How I Turned a $10 Pork Loin into a $20 Cajun Pork Loin Sandwich Malcom Reed Connect on Facebook Follow me on TikTok Subscribe to my YouTube Channel Follow me on Instagram Have a Question About This Recipe? Connect with us in our HowToBBQRight Facebook group for recipe help, to share your pictures, giveaways, and more!
Backstrap Tacos Venison Tacos – Deer Backstrap seasoned with Mexican Seasonings and smoked until medium rare. Then the venison backstop is sliced and served as deer tacos on a tortilla with fajita vegetables and a Gringo Green Sauce. WHAT MALCOM USED IN THIS RECIPE: Malcom’s Grande Gringo Seasoning Killer Hogs AP Seasoning Black Nitrile Gloves White “Hand Saver” Gloves Malcom …
BBQ Chicken Pizza Chicken thighs grilled and charred over charcoal grill. Then sliced and used for a quick and easy Pellet Grill BBQ-style Chicken Pizza using White BBQ Sauce, Jalapeños and lots of cheese! This recipe is a perfect Football Food! WHAT MALCOM USED IN THIS RECIPE: Killer Hogs Hot Rub Royal Oak Tumbleweeds Killer Hogs White BBQ Sauce Killer …
Dirty Bird Chicken Bites Bacon-Wrapped Chicken stuffed with a Hot Dill Pickle – Charcoal Grilled – and Served with a Sweet and Spicy “Dirty Dip” Sauce WHAT MALCOM USED IN THIS RECIPE: Killer Hogs Hot Sauce Killer Hogs Hot Rub Killer Hogs Hot Dill Pickles Royal Oak Tumbleweeds Green Thermoworks Thermapen Malcom Reed Connect on Facebook Follow me on TikTok …
Fried Catfish Mississippi pond raised Catfish Filets – fried Southern Style with a thin, crispy fish breading. Frying catfish really is easy, it’s all about technique. For starters, you want smaller, thin filets of catfish to start – so your catfish cooks evenly and is crispy. Next you need to let the catfish filets dry really well – using a …
In today's competitive real estate market, many potential homeowners face the challenge of securing a mortgage with favorable terms. Fortunately, the Federal Housing Administration (FHA) offers a viable solution through its FHA loan program. Designed to make homeownership more accessible, FHA loans provide an array of benefits for first-time buyers and individuals with limited financial resources. Let's delve into the basics of FHA loans, highlighting their key features, eligibility requirements, and advantages.
What is an FHA Loan?
At its core, an FHA loan is a mortgage insured by the Federal Housing Administration, a branch of the U.S. Department of Housing and Urban Development (HUD). Unlike conventional loans issued by private lenders, FHA loans carry government-backed insurance, which mitigates the risk for lenders. This insurance allows borrowers to secure mortgages with lower down payments and more flexible credit requirements.
Eligibility Criteria
FHA loans cater to a wide range of borrowers, with eligibility requirements that are generally more lenient compared to conventional loans. Here are the primary eligibility criteria for FHA loans:
Key Components of an FHA Loan
Loan Limits and Mortgage Insurance
FHA loans have specific limits that vary by county, taking into account the average home prices in the area. These limits ensure that FHA loans are accessible to a broad range of borrowers while accounting for regional variations in housing costs. Additionally, FHA loans require borrowers to pay mortgage insurance premiums (MIP) to protect the lender against potential default.
For those seeking an affordable path to homeownership, FHA loans offer an attractive solution. With their lower down payment requirements, flexible credit criteria, and additional benefits such as assumable loans and streamlined refinancing, FHA loans empower individuals and families to achieve their homeownership dreams.
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For Immediate Release | Vacation Home Sales Surge | More Buyers See Opportunity in Vacation Homes: Some buyers are calling the vacation-home market the “perfect storm, Questions? Speak with Steve Direct/Text 865-964-9476 REAL ESTATE FOR BUYERS / SELLERS. https://knoxmoves.realgeeks.com/gatlinburg-and-pigeon-forge-area-almost-17000-rental-units/
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.
Increasing interest rates, housing prices and inflation have made many pause their home search. Not anymore. If you’re in a similar situation, we can help you get into your new home – without a hefty down payment.
We know that the down payment is one of the biggest obstacles home buyers face when they can otherwise afford a mortgage payment. ONE+ allows you to get a mortgage by putting as little as 1% down, combined with a 2% grant from Rocket Mortgage, you start with 3% equity and mortgage insurance is not charged to you.
ONE+ by Rocket Mortgage is for eligible first-time home buyers and repeat home buyers who make less than or equal to 80% of the area median income (AMI) of the location they’re buying in, Los Angeles County being $78,320 with credit scores of 620 or better, on single-unit, primary residence only.
It’s only available for purchase loans with a maximum loan amount of $350,000 and can’t be combined with other promotions although temporary rate buydown options are available if they come from the builder or agent.
There are several other low down payment options that may be available to you depending on your situation. For example, if you need to qualify with a higher income, you can still put as little as 3% down on a conventional loan as a first-time home buyer. If your credit score is 580 or better, you can put 3.5% down for an FHA loan.
If you're thinking of buying want to get connected to one of my preferred lenders w/ Rocket Mortgage, then contact me today! 
Ben Dueweke Banker Rocket Mortgage T (313) 546-2193 C (586) 945-6591 F (855) 455-2531 NMLS# 1332763
