5️⃣ Things Sellers NEED TO KNOW!

Sunday, November 26th, 2023

In this newsletter, you’ll find:

• 📈 Market Updates for 8 different zip codes in The Upper Cumberland

• ☕️ The Exceptional Bean, a coffee shop in Cookeville changing lives

• 🔥 9 of the best newly listed properties

• ⭐️ Small business spotlight

• NAR’s Lawrence Yun recently stated that interest rates could be making a HUGE drop next year

• 5 Things Sellers NEED TO KNOW About Today's Housing Market

• 💸 8 Price reductions

Let’s dive in! 👇

👉 Don’t see the city and/or zip code you’re looking for? Reply to this email and we will send you a custom report!

Meet Corey, our passionate and knowledgable in-house mortgage officer. Here’s here for all of your mortgage questions!

The Exceptional Bean Coffee Shop

If you don’t know who Michael and Cigi England are, you are missing out!

Michael and Cigi are the Co-Founders of The Exceptional Bean- a coffee shop offering inclusive employment opportunities in Cookeville, TN. They started volunteering in our community and quickly realized our world wasn’t built for individuals with disabilities.

We sat down with them to learn more about their mission and how it’s changing lives in our community. Watch the video above to learn more!

Our 501c3 nonprofit organization SNR Cares is sponsoring The Exceptional Bean this quarter. Learn more HERE

• $399,929 - 1650 Iris Avenue, Cookeville, TN: 3 BED, 2.5 BATH, 2,850 SQFT, .52 ACRES

• $599,929 - 634 Dodson Chapel Rd, Cookeville, TN: 3 BED, 2.5 BATH, 2,250 SQFT, 16.5 ACRES

• $299,929 - 1982 Rickman Monterey Hwy, Rickman, TN: 2 BED, 1 BATH, 1,332 SQFT, 17.32 ACRES!!!

• $399,939- 160 Ledbetter Lane, Allons, TN: 4 BED, 2 BATH, 1,823 SQFT, 1 ACRE

• $389,929 - 757 Plunk Whitson Rd, Cookeville, TN: 3 BED, 2.5 BATH, 2,1900 SQFT

• O/A - $429,929 - 1320 N Hampton Circle, Cookeville, TN: 3 BED, 3 BATH, 2,954 SQFT, .53 ACRE

• $374,929 - 1365 Sherwood Lane, Cookeville, TN: 4 BED, 3 BA, 2,958 SQFT

• $414,929 - 221 Red Oak Lane, Monroe, TN: 3 BED, 2 BA, 1,960 SQFT, .90 ACRES

• $189,929 - 4527 S Creek Rd, Cookeville, TN: 3 BED, 1 BA, 1,008 SQFT

View all newly listed properties here!

You can view their website here

NAR’s Lawrence Yun recently stated that homebuyers could be looking at mortgage rates in the 6% range next year.

NAR Chief Economist Lawrence Yun has analyzed the current state of the U.S. residential real estate market and shared his outlook for 2024. He pointed out several challenges that are making it difficult for Americans to achieve homeownership like high mortgage rates, soaring home prices, and limited housing inventory.

The main reason behind these challenges is the extraordinarily high interest rates, with 30-year-fixed mortgage rates reaching as high as 8% in 2023.

Yun believes that the peak in interest rates has likely been reached and that rates will start to decline. He forecasts that by the spring buying season, interest rates will drop to between 6-7%, providing some relief to homebuyers. He also anticipates that more sellers will enter the market, as builders have seen a 5% increase in newly constructed home sales this year.

5 Things Sellers NEED TO KNOW About Today's Housing Market

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• In a balanced real estate market, 1-2 weekly showings is normal. However, if your home is well-marketed and does not have any significant objections, zero showings might indicate that your asking price is too high.

• You are seeing a balanced market! A slower pace of sales indicates a balanced real estate market, which is different from the fast-paced frenzy of a seller's market. Don’t get discouraged if your home doesn’t sell quickly, this is normal in today’s market landscape.

• Buyer’s are taking their time. It's becoming increasingly common to see potential buyers visit a property, only to return weeks later with an offer. This is resulting in longer marketing periods for sellers.