It’s coming down to the final stretch of the calendar year and we’re all running as fast as we can. Today brought some exciting news for mortgage rates – another day below 7%, and the 10-year Treasury at its lowest in over a year means we *think* the rate peak has passed for now, and the Fed seems to concur by lowering their rates this morning.
Many of us in Nashville are seeing increased Buyer interest already, and are preparing for a busier January than usual due to pent-up demand. Buyers who were priced out due to the combination of skyrocketing prices and higher rates are hoping they can now afford something they couldn’t when rates hit 8%.
Speaking of skyrocketing prices, Richard Exton, a local appraiser compiled his yearly median price per sf neighborhood chart to show how much certain areas have appreciated. It’s not surprising given how expensive housing has become in the Middle TN area compared to 10 years ago.
With judgments/appeals still pending on the latest ruling in the National Association of REALTORS®️ lawsuits, things are still unsettled, but at the very minimum, changes in how REALTOR®️ compensation is communicated will change. TN has good contracts that explain how compensation is shared between Buyer and Seller agents, but not all state contracts are the same. We have also been fortunate to have a forward-thinking MLS (our Multiple Listing Service is Realtracs) that does not allow searches that would breach our Code of Ethics. This does not mean we can’t all do a better job at explaining the benefits of Buyers having their own representation and the costs associated with that expertise. I’ll keep you updated as we wait to see what happens with these suits.
We had a bumper crop of honey this year, with supply chain issues in getting bottles in which to package it! That said, we finally offered up our tiny bounty via Instagram and have created a page for Wainwright Hives to make it easier. We’d love to be able to expand so we can reliably offer honey annually, but nature decides that for us most years! Below are the expanded options that we had available this year, and a throwback to 2020 Christmas vintage honey!
I hope everyone has a safe and wonderful holiday season.
Until next time!
