Knoxville Real Estate and Community News

Dec. 4, 2023

Mortgage rate buydowns are softening the affordability problem

Mortgage rate buydowns are softening the affordability problem. 

by Rick Palacios, Jr., and Danielle Nguyen

It is customary for many buyers to pay a fee (0.25% to 0.5% of the mortgage amount) to lock in the current mortgage rate so that they can be assured of their mortgage payment before closing. However, the trend in the last year has been to have the seller pay a significantly higher fee to lock in a below-market rate for the buyer. Home builders have been the primary home sellers choosing this option, and more resale agents are talking their clients into offering this incentive as well—a topic covered in our recent podcast with Compass’ Chief Real Estate Strategist Mark McLaughlin.

As mortgage rates soar and it gets harder for people to afford homes, rate buydowns have become an increasingly common financing tool to drive sales and demand. We’ve written extensively about rate buydowns since December 2022.

Today, a seller contributing 4% of the home proceeds at closing can reduce the borrower’s payment by 10%. For many sellers who have benefitted from far more home price appreciation than they ever imagined, achieving 96% of today’s home value still results in a huge gain—and is far better than reducing the price by 10%. For buyers, a 10% lower mortgage payment means far more to them than a 4% lower home price. This is a win-win that varies by market and might be temporary.

Posted in Buying a Home
Nov. 7, 2023

RIVER NEIGHBORS – October & November 2023

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Greetings, River Neighbors!

It’s finally fall. Cooler weather and vibrant colors fill our days – not to mention pumpkin spice is everywhere. But even though the weather is cooling down, that’s not slowing down TVA’s Environment and Sustainability team from our daily conservation and stewardship work.

Our teams of dedicated and passionate experts are always out in the field advancing our mission to make the Tennessee Valley region the greatest place to live, work and play in the country.

Speaking of playing, I hope you enjoy reading about the memories created at the recent CAST for Kids event on the beautiful Guntersville Reservoir. Helping to ensure an inclusive experience for those who might otherwise not participate in the great outdoors is near and dear to us nature enthusiasts.

Another thing highly valued by our team, including all the ologists, is the upcoming National STEM Day. TVA has many great resources that we’ve developed in support of students and teachers alike to ignite their love of learning and prepare them for the jobs of tomorrow.

I hope you find these and other content in this newsletter entertaining as well as informative. And as always, responsibly enjoy all the natural resources gifted to us and please stay safe

Rebecca Tolene
Vice President, Environment & Sustainability and Chief Sustainability Officer


TVA and CAST for Kids Partner to Create Memories

Annual fishing event ensures an inclusive adventure for those with special needs.

Catching Memories on Guntersville (


Going Toe-to-Toe Against Eel Grass

Battling eel grass is a never-ending battle. But TVA and partners like My Lake Guntersville are working together to fight this invasive species along several fronts.

The Eelgrass Battle (


Managing a Vital Resource

Have you ever wondered why lake levels drop in fall and winter? Learn how our team in the River Forecast Center manages the Tennessee River system and the many benefits it provides!

A Delicate Balancing Act (


Building Biodiversity Awareness

A team of our biologists recently scoured Shoal Creek and nearby streams in Northwest Alabama for rare, hard-to-find aquatic species for the National Geographic and Joel Sartore's Photo Ark collection. Their support for Photo Ark will help raise awareness about biodiversity in the Tennessee River Valley.

TVA Helps Build Photo Ark


Volunteers are Key to Public Lands Day Success

Volunteers showed up in force to help give back to the land during National Public Lands Day in September. Their support helps increase TVA’s impact on the environment.

Giving Back to the Land (


Celebrate STEM Day                   

November 8 is National STEM Day, a day set aside to observe the importance of science, technology, engineering and math in our lives. Check out TVA’s STEM resources for students and teachers, and help stimulate young minds.


Don’t Miss the Adventure

TVA employees Pat & Ashley have been exploring the Valley region to celebrate our 90th anniversary and highlight some of the things that make this place we call home special. Check out their latest experiences.


The Wayback Machine

Air is crisp, leaves are bright and it’s hunting season across the Valley – a pastime that’s been enjoyed on TVA lands for decades. This vintage photo shows a hunter, his helpers and their catch.

Make sure to visit our hunting page to find specific state information regarding game seasons and bag limits.


Explore With the Tennessee River Valley Mapguide

Looking for new places to explore by foot, car or boat? Check out the Tennessee River Valley MapGuide.There are plenty of things to see and do close to home.

Got a Question? Pick the PLIC

TVA’s Public Land Information Center (PLIC) is your single source for answers to questions about a variety of public land topics including recreational opportunities and shoreline permits. Call (800) 882-5263 between 8 a.m. and 6 p.m. ET or submit your question using the form found here.

See past issues of River Neighbors here.

Boone Dam Project
We publish this newsletter to keep TVA's stakeholders informed about the programs and projects associated with TVA’s environmental stewardship, recreation and river management efforts.

Our mailing address is:
Tennessee Valley Authority
400 West Summit Hill Drive
KnoxvilleTN 37902

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Posted in Market Updates
Nov. 1, 2023

Is a 7 1 ARM a good idea right now

A 7/1 adjustable-rate mortgage (ARM) is a hybrid home loan product. Homeowners make fixed monthly mortgage payments at a set interest rate for the first seven years. After that time passes, a 7/1 ARM's rate can increase or decrease on an annual basis for the rest of the loan's life.


Is a 7 1 ARM a good idea right now?


When should you consider a 7/1 ARM? Adjustable-rate mortgages are best for people who are only planning to hold them for the initial term. So, if you're looking to move within seven years, or know you'll be able to refinance to lock in your interest rate in that time, a 7/1 ARM could be the right mortgage for you.


Get Approved now.

An ARM loan lets you take advantage of low introductory interest rates — and build equity faster.


Michael Allen 865-803-3558 Direct/Text Broker/ REALTOR    Steve Albin 865-964-9476 Direct/Text REALTOR/Broker


Posted in Buying a Home
Oct. 26, 2023

Mortgage Rates Continue to Climb Toward Eight Percent

October 26, 2023 12:00 PM EDT
Mortgage Rates Continue to Climb Toward Eight Percent

MCLEAN, Va., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.79 percent.

“For the seventh week in a row, mortgage rates continued to climb toward eight percent, resulting in the longest consecutive rise since the Spring of 2022,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates have risen two full percentage points in 2023 alone and, as we head into Halloween, the impacts may scare potential homebuyers. Purchase activity has slowed to a virtual standstill, affordability remains a significant hurdle for many and the only way to address it is lower rates and greater inventory.”

News Facts

  • 30-year fixed-rate mortgage averaged 7.79 percent as of October 26, 2023, up from last week when it averaged 7.63 percent. A year ago at this time, the 30-year FRM averaged 7.08 percent.
  • 15-year fixed-rate mortgage averaged 7.03 percent, up from last week when it averaged 6.92 percent. A year ago at this time, the 15-year FRM averaged 6.36 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube

Angela Waugaman

A photo accompanying this announcement is available at

View this release →
Or click here to view all releases.
Posted in Buying a Home
Oct. 23, 2023

Disclosing Adverse Effects

Disclosing Adverse Effects

Q: If a list agent and seller receive a copy of the home inspection and the deal falls through, does the agent and seller have to disclose adverse effects?

 A: The Seller should consult their own attorney about their disclosure obligations.

The listing agent has a statutory duty to disclose any adverse facts of which the agent has actual knowledge of.

Steve Albin Broker Cell Phone: 865-830-6401 or 964-9476 Direct/Text. Have a Blessed Day

New Listings For Sale - Listing activity in Knoxville, TN - Listings from Every REALTOR From Every Real Estate Company inthe  East Tennessee REALTORS® MLS in one location.

Posted in Buying a Home
Aug. 11, 2023

You Never Know What's Going On Inside A Home(s) Stay till the end to see a perfect Ohio home.

You Never Know What's Going On Inside A Home(s)

Stay till the end to see a perfect Ohio home.

1. On today’s first You Never Know What’s Going On Inside A Home. This is Part 35 and it’s really perfect and beautiful inside. 101/100 no notes. This may be the final boss of YNKWGOIAH. $650,000. Chicago, IL. 2 bd, 2 ba. 1,542 sq ft. Listing via Leyla Jimenez. Listing here.

I love the chandelier cove in the ceiling

Where can I get that Eiffel Tower?

2. If you want a Georgetown cottage from the 1700s that per the listing comes with “a collection of books belonging to a former owner (Ann Caracristi), a cryptologist during World War II and the first woman deputy director of the National Security Agency, who owned the house from 1950 to 2016”. $998,000. 1 bd, 2 ba, 1,015 sq ft. Listed via Roberta Theis/Compass. Listing here.

PLC (Pretty Little Cottage)

Oh my the BOOKS

Even more books in the bedroom🥲

3. You Never Know What’s Going On Inside A Home, Part 36. This home was built in 1890 and it’s perfect, 11/10 no notes. It’s so nice it’s worth moving to Dayton, OH for! $950,000. 4,961 śq ft. 4 bd, 3 ba. Listing via Terri Johnson / Glass House Realty Group. Listing here.

The brick street😍

One of the prettiest rooms we’ve ever seen


oh my the appliances in here!

The kind of sleep I could get in a room like this😴

That’s it for this week! What was your favorite home this week? Did I miss any? What else would you want to see in the newsletter? I can’t believe summer is almost over??? Don’t forget to take the survey at the end!© Zillow Gone Wild

228 Park Ave S, #29976, New York, New York 10003, United States

Posted in Buying a Home
July 24, 2023

We’re currently experiencing a “bottleneck” in the real estate market, Corcoran said, but this won’t last forever.

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




Posted in Buying a Home
July 17, 2023

What Is an MLS? MLS Explained in Less Than 4 Minutes


multiple listing service (MLS) is a database of broker-listed homes. Only real estate agents and other professional affiliates can access an MLS. 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.

How the MLS Works

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.

How to View MLS Listings

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.

Alternatives to an MLS

Homebuying and real estate apps, such as, 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.

Key Takeaways

  • A multiple listing service (MLS) is a database of broker-listed homes. Only real estate agents and other professional affiliates can access an MLS.
  • MLSs make buying and selling homes more efficient and offer comprehensive information about each home. 
  • You can access information on an MLS by working with a real estate agent, who can set up automatic emails from an MLS for homes that meet your criteria. 
  • Public websites often have the same listings as MLSs, but their information isn't as comprehensive.  
Posted in Buying a Home
July 15, 2023

Interest rates are up and the real estate market has not slowed down. It's still increasing.

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

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.

Posted in Buying a Home
June 24, 2023

Imagine Real Estate Group and team up with big online real estate marketers.

Imagine Real Estate Group and 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!

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!

Your Preferred Realtors® of Choice 2022  Michael Allen 865-803-3558 Direct/Text  Broker/ REALTOR …. 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.


Posted in Selling Your Home