Bill Diebenow Properties

It's virtually gospel that updated kitchens and bathrooms provide the highest ROI when considering home improvement projects. A paint refresh, installing new hardwoods and replacing hardware and fixtures are also worthy of consideration on a case-by-case basis. But don’t forget the exterior! Few rehabbing dollars go farther than those spent on the outside of the house. If for nothing else, curb appeal helps sell homes. New landscaping could be just what your home needs to look fresh and appealing. The aesthetic appeal of both the front and backyard may actually be the first thing buyers see, so make a good first impression and update the landscaping.  Go a step further and develop your exterior living spaces. An outdoor kitchen is a feature that many homeowners want to have added to their property, especially here in Tennessee. Entertain family and friends while taking advantage of favorable weather. There is also the resort factor that an outdoor kitchen brings. It could seal the ...

During the residential real estate drama of 2020 to 2022, we became so accustomed to properties flying off the shelves in a day or 2. But over the last 12 months, sales have markedly tapered and the duration of the buying process has grown. Comparing 2023 Q1 with the first months of 2022, homes in Greater Nashville spend 35 days on market vs 12 days in 2022. A better vantage point is to consider a longer time context for comparison. Greater Nashville Realtors® data gives a historical DOM perspective back to 2008. What you'll notice is that the present 35-day average is reasonable and moderate. Buyers have time to be selective. Take a look at both graphs below. 2055 Tollgate Blvd, Thompson's Station Just in case You or Someone You Know is looking for: An urban-ish property in suburban Williamson County or Relocating to Middle TN or Considering a rental property investment... Check out this "better than new" townhome in beautiful Tollgate Village. Less than 2-years old....

Shout out to the Money Guy Show produced right here in Franklin, TN. This isn't the first time I have highlighted the guidance of Brian Preston and Bo Hanson in my communications. I appreciate their common sense advice and easy-to-follow checklists. In the Money Guy Show episode  (click link) produced on March 10, Brian and Bo respond to nationally recognized voices of authority who are in conflict. Harry Dent says a big housing crash is coming. Dave Ramsey maintains a position that now is still the time to buy. Considering and following the Money Guy Home-Buying Checklist is helpful in right-sizing the question of "to buy or not to buy?" to your personal circumstances. What particularly interests me most follows the age-old real estate mantra location, location, location. Brian asks, "What is the sizzle of your location?" It's a mistake to put a blanket projection over the entire country. What are the migration patterns, which companies are driving job grow...

Click for brief 2-min video Homeowners stay in their homes 2x longer than 2 decades ago. As you can see from newly released Redfin data:  The length of time staying put in a home has nearly doubled since 2005, from 6 to 12 years. This phenomenon is one more factor (such as fewer construction starts) contributing to the lack of for-sale inventory. The ownership "tenure" is down slightly from the peak reached in 2020. Record-low mortgage rates in 2020/2021 motivated a large population segment to buy/sell homes, boosting transaction numbers for a time. Pandemic-fueled remote work prompted many Americans to relocate to a different part of the country, too. What is Your Ownership Profile? 1 - Are you living in the home that you love? Or it suits you well? If so, we'll say you are in the satisfied group. 2 - Alternatively, are you in either of these begrudgingly "staying put" camps? In the first staying put camp, you have settled for a home you now regret purchasing. ...

By Adam Sichko – Senior Reporter, Nashville Business Journal Feb 13, 2023 Rising sales of electric vehicles, and one gigantic customer order, are propelling a nearly 270-job expansion for a company that makes the charging stations that replenish battery power in those vehicles. Australia-based Tritium DCFC Ltd. (Nasdaq: DCFC) is banking on its Lebanon facility, east of Nashville, to support the largest backlog and biggest sales in its 22-year history. The company is one example of the surge in jobs announcements tied to the electric vehicle industry that is quickly emerging across Middle Tennessee and the entire state — including automakers, battery makers and companies mining metals for those batteries. Tritium's growth during its brief time in Lebanon mirrors the company's recent ascent: Eight months ago, Tritium began assembling charging stations on one production line. Two lines operate today, with plans to add three more this year. Tritium workers made 400 charging stati...

Click for brief 2-min video The WSJ/Mansion Global article (February 2) provides an interesting real estate overview using nationwide data from Realtor.com. It is titled Home Buyers Are Looking at Far More Bargaining Power . You should check it out, and I have provided the link below. But I would be cautious about over reliance on this information in the Middle TN marketplace. I would also caveat that its usefulness has a limited time horizon. If you are considering a home purchase, action in February and into early March would serve you well. The article contends that buyers today have far more bargaining power than during the housing run up to May 2022. That the number of homes for sale, which across the country soared 65.5% year over year, gives buyers more options to choose from. Therefore, buyers have a negotiation platform so different from the fierce competition that helped push prices skyward over the past two years. All true on a general basis. However, in Middle TN, the soft...

**  Click to watch my 2-min Video: Be Competitive  ** Why would I trade a 3% for a 7%? Many homeowners are reluctant to sell their home today. Here we are on the sidelines, once again! In the past couple years, the primary hesitation was to avoid the drama of the buy side in a highly competitive market. Now, with the drama removed, homeowners don’t want to lose the historically low mortgage rate they have on their current property. However, there may be other non-financial factors to consider when it comes to making a move. In other words, your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today. National Association of Realtors (NAR), reports: “Home sellers have historically moved when something in their lives changed – a new baby, a marriage, a divorce or a new job...” A survey by Realtor.com asked recent home sellers why they decided to sell. The visual below breaks down those ...

Build a proper context and gain a clear perspective. Volatility in the financial markets can cause anxiety.  It's understandable.  Especially with the speed of change brought on by the Fed tackling inflation through the hikes in interest rates. But consider these 2 points in proper context across time. It Remains a Seller's Market Housing has cooled but equity-rich homeowners are still in the driver's seat. Why? Years of tighter mortgage lending standards and sharp home appreciation mean homeowners have less debt and substantial amounts of equity. Because of this, we are unlikely to see the domino effect of an over-leveraged environment and price instability like we experienced at the outset of the Global Financial Crisis over a decade ago. That will keep inventory constrained. Low inventory means buyers’ options will remain limited. Check out the insightful article (click link) penned by the senior economist at Zillow Group. Yes, listings are up and sales have slowed. Bu...

  Participate in RE Beyond Ownership of your Primary Home Have you considered investing in rental property? It may not be as big a leap as you imagine. The moderation of the residential real estate market could create opportunities for you to participate beyond ownership of your primary home. Recounted in the WSJ article linked below, home purchases by investors large and small climbed to record levels during the pandemic, reaching a high of 28% of all single-family home sales in February of 2022, up from 17% during the same month in 2019 (housing data firm CoreLogic).   Assess the Housing Market   The first step would be to assess the long-term direction of the housing market. As I wrote last week, residential real estate trends are best viewed from both national and location-specific perspectives. On a nationwide basis, there is a well-documented home inventory shortage. Match this with demographic pressures, the  catch-up growth in Millennial purchases will drive ...

Shout out to The Money Guy Show produced here in Franklin, TN. Hosts Brian Preston and Bo Hanson ask, "Who’s Right About the Housing Market? (Dave Ramsey vs. Graham Stephan)." Well, it depends! Brian and Bo offer 5 practical steps as we come through this transitional period. Check out the video linked above, it's informative and entertaining. The first step is to assess where home prices are going. They turn to financial expert Dave Ramsey who proclaims that prices aren't going down and to buy now. And then YouTube sensation Graham Stephan, who states that location matters and certain markets are overvalued. Location Matters For Middle TN, both words of advice happen to be correct and positive. Residential real estate trends are best viewed from both national and location-specific perspectives. Brian and Bo reference the long-term trajectory of our Middle TN market. I have included an appreciation graph that maps out the 5.9% historic annual gain. Nobody expects a re...

Faced with dramatic inflation figures, economic forecasters have warned over the past several months that the residential real estate market could cool considerably following years of explosive growth. Yet conversely there are positive national indicators (and growing optimism) that the economy is heading towards a soft landing. Even more so, with "Location, Location, Location" as the age-old real estate mantra, local factors point to our Middle TN region faring well and thriving despite the storm clouds. 3 recent articles and reports highlight Nashville's steady position. Don't miss the quick read  WSJ Mansions/Realtor.com . Click the image for linked video Greater Nashville REALTORS® president Steve Jolly remarked that for our local housing environment, "transitioning to a more balanced market is healthy for Nashville and Middle Tennessee." In the GNR July monthly report ( Click Link ), inventory is up 76% from this time last year. "The supply of ...

A Moderating Housing Market Means More Options... That was the headline from the Realtor.com® National Housing Forecast Update in June 2022. The economists behind the annual study issued a revised forecast to account for the following elements in the housing landscape: Mortgage rates are revised upward to reflect the major shift in monetary policy and financial conditions over the last 6 months; thru the second half of 2022, the 30-yr rate stabilizes at 5.5%. Going forward, home price growth cools , but it has remained hotter for longer than originally anticipated leading to an upwardly revised projection of 6.6% home price growth for 2022 . Home sales slows (in units), modifying original 2022 growth expectations to a decline of 6.7%. While the forecast is a notable step down from 2021, home sales on par with these projections would mean that 2022 sales are the 2nd highest tally since 2007, trailing only 2021. The inventory of homes for sale grows more than originally projected, up 15%...

How to best navigate the housing market? How to benefit from home ownership while taking practical steps to protect yourself? In Franklin TN, two sources of financial authority have provided sound direction in recent weeks. Dave Ramsey stated that despite drama in the economy, home prices are not going to come down . We will see a slowdown only in the rate of appreciation. But home prices will continue to rise. I believe the steady performance of residential real estate through other periods of financial change gives us guidance for the future. That's why I present the 2 graphs. Greater Nashville has witnessed a stunning run of appreciation growth (by 234.7% since 2002) and an annual average of 5.9%. Brian Preston and Bo Hanson on their podcast The Money Guy Show, give sound practical advice in this episode last week, Avoid These Home Buying Mistakes . Your decision matrix should include these 3 elements: • A home purchase needs to be a 5-year commitment ○ Enough time horizon t...

Middle TN Inventory Remains Tight Available Inventory vs Sold 2018 - 2022 With all eyes focused on the rise of interest rates to slow the rate of inflation, how does this affect the residential real estate market and specifically the local Middle TN environment? Last week I pointed to the downturn in home sales and a rise in active inventory. Yet from a historical perspective we are experiencing an ongoing shortage of available properties. There remains a big gap between the small number of homes available for sale and the overwhelming number of buyers looking to make a purchase. Sellers' perspective: Price appreciation is decelerating.  It continues to appreciate, but at a slower pace. “We do still expect home prices to cool, but we’re starting at a higher price point,” says Realtor.com Chief Economist Danielle Hale. Buyers' perspective: More homes to choose from in our local market.  Up 21.7% from prior month, and 18.2% over same time last year.  But keep in mind, Middl...

Tech talent is growing across the country — but especially in the Sunbelt region, including a strong showing in Tennessee. A recent analysis by LinkedIn’s Economic Graph team reveals the 15 U.S. metro areas that have shown the greatest increase in local tech talent over the past three years, and southern cities dominate the list. The top 15 includes both Nashville and Chattanooga in Tennessee. From the remainder of the list, three were hubs in Florida, three more in North Carolina, and two in Texas. This ranking focuses on the fastest three-year growth rates. Bear in mind that the tech sector involves far more than just the high-paying, big-company software engineering roles that command so much media attention. This analysis focuses on the full sweep of information technology skills, as well as roles in mechanical, civil, electrical, chemical and bio engineering. To learn more about the fastest growing tech hubs in the U.S., read the latest edition of Workforce Insights: https://lnkd....

The frenzied market that took off in mid-2020 is losing some of its steam, according to publications and sources (incl WSJ, National Association of Realtors and Realtor.com). Record-low mortgage-interest rates and home buyers’ desire for more space during the Covid-19 pandemic unleashed a sales boom that pushed prices to new highs. I see the transition to a good balance as a path to sustainability without shock treatment. A soft landing is a favorable result coming away from the hot market. Check out my brief video commentary below. Two years later, where do we stand? The national story has 4 components: A cooling of the U.S. housing market. Caused by rapidly rising mortgage rates and record home prices Reflected in these 2 areas: A downturn in home sales Existing-home sales slipped 2.4% in April from the prior month, the National Association of Realtors ‘‘Higher home prices and sharply higher mortgage rates have reduced buyer activity…We are moving back to prepandemic sales activity, ...

Adjustable-rate mortgages are making a comeback. The rise in rates on the 30-yr mortgage is driving this renewed attention. But don't let the stigma that ARMs were to blame for fueling the 2008-09 financial crisis cause you to dismiss them today. Strict borrower qualifications on these loans carry much higher requirements than 15 years ago. And approved buyers have an average credit score of 750. Check out the WSJ report, ARMs are Back . What's the reward? An estimated savings of $15,582 over five years (roughly $260 per month) for the typical homebuyer, according to Redfin. The average interest rate on a 5/1 ARM was 3.98% during the week ending May 12, while the average rate on a 30-year fixed mortgage was 5.3%—a spread of 1.32 percentage points. What's the risk? Well, what's your time horizon to outgrow or want to move from your home? The average lifespan of a 30-year mortgage is under 10 years, and frequently well below that, according to Rocket Mortgage. That’s not ...

Lots of people wish they could pay less in taxes. Two recent reports give TN standout tax ratings. According to personal finance website WalletHub, and their March 2022 data , TN has the 2nd-lowest overall tax burden in the US . Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes. Now in a May 2022 study , Credit Karma recognizes TN with an overall rank of 7th-lowest taxes. That’s because TN has no income tax. That’s right zero. TN is just 1 of 8 states in the US that do not have an income tax. And when it comes to property taxes, living in TN will improve your cash flow. Because property taxes on a median-priced home here are some of lowest rates in the nation! I am happy to advise with your real estate needs. Contact me by phone 615-337-3660) or email Bill@BillDiebenow.com.