Bill Diebenow Properties

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.

  Greater Nashville boasts the second-strongest job market in the nation, according to an analysis from The Wall Street Journal (article below) and Moody's Analytics. And, from my vantage point as advisor in the residential housing market, the employment figures support the ongoing sustainability of property appreciation. The hottest job markets in America are in five different states, but they have a lot in common. They’re in midsize cities, all with a population under 2.3 million. They’re in states with fairly low income taxes, or none at all. And their climates allow for outdoor activities all year round.  This is the fourth year that The Wall Street Journal and Moody's have done this kind of number-crunching. It is the latest evidence of the region's rebound from the Covid-19 pandemic, having now regained the number of jobs lost during the brief recession as the virus spread worldwide. The assessment ranked metro areas by five factors, using 2021 data: unemployment ...