Jan. 29, 2024

Silver Tsunami

Will a Silver Tsunami Change the 2024 Housing Market?

Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market.

What Does Silver Tsunami Mean?

A recent article from HousingWire calls it:

“. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”

The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more.

The concept makes sense in theory, but will it happen? And if so, when?

Why It Won’t Have a Huge Impact on the Housing Market in 2024

Experts say, so far, a silver tsunami hasn’t happened – and it probably won't anytime soon. According to that same article from HousingWire:

“. . . the silver tsunami’s transformative potential for the U.S. housing market has not yet materialized in any meaningful way, and few expect it to anytime soon.”

Here’s just one reason why. Many baby boomers don’t want to move. Data from the AARP shows over half of the surveyed adults ages 65 and up plan to stay put and age in place in their current home rather than move (see chart below):


Clearly, not every baby boomer is planning to sell or move – and even those who do won’t do it all at once. Instead, it will be more gradual, happening slowly over time. As Mark Fleming, Chief Economist at First Americansays:

Demographics are never a tsunami. The baby boomer generation is almost two decades of births. That means they're going to take about two decades to work their way through.”

Bottom Line

If you’re worried about a Silver Tsunami shaking up the housing market, don’t be. Any impact from baby boomers moving will be gradual over many years. Fleming sums it up best:


“Demographic trends, they don't tsunami. They trickle.”

Jan. 16, 2024

Consider a New Build

Why You May Need to Consider a New Build Home


Are concerns about finding the right home hindering your plans to sell? Consider the advantages of exploring newly built homes. Here's why it could be a game-changer:

Record Percentage of New Home Inventory: The housing landscape is witnessing a substantial increase in newly built homes. According to the National Association of Home Builders (NAHB), newly constructed homes accounted for 31% of the total homes available for sale in November, significantly exceeding the historical average of approximately 12%.

Rise in Housing Starts and Completions: Recent data from the Census reveals an uptick in both housing starts (initiation of new construction) and completions (finished constructions). This surge is positive news, addressing the ongoing housing shortage in most markets, as noted by Lawrence Yun, Chief Economist at the National Association of Realtors (NAR).

Increased Options for Homebuyers: With the supply of existing homes still limited, the surge in new-home construction provides more options for homebuyers. Imagine the appeal of a home that is entirely new – from appliances to paint, with fewer maintenance requirements. Additionally, some builders are offering incentives such as mortgage rate buy-downs, easing affordability challenges for buyers.

Leveraging Mortgage Rate Buy-Downs: Builders are employing mortgage rate buy-downs as a sales incentive, allowing buyers to finance more home for the same payment amount. This can be a compelling option, particularly when interest rates are relatively high.

Navigating the Process: Buying from a builder involves a unique process, distinct from purchasing an existing home. To ensure a smooth experience, it's crucial to partner with a trusted real estate agent familiar with the local market. They will guide you through interactions with the builder, review contracts, and provide valuable insights.

If you're eager to sell and move but struggling to find the right home, let's connect. As your local expert, I can help you explore all available options, including the exciting prospects offered by newly built homes in our area.

Some great things happened this week!  We did a tour with Shelly Belly to raise money for XHunger chapters across America. She raised thousands of dollars during her comedy tour and during her stop to Knoxville we were able to sponsor this fantastic event and get her a copy of our Children's Book, The Very Contrary Fairy.  
We also filmed the 6th episode of Selling Knoxville with American Dream TV showing off Pretentious Beer and glass.  This year we are doing a 2024 ONLY in Knoxville, where each of our guests have businesses  and experiences you can only find in Knoxville TN. 
We would LOVE to have you on our show!  https://youtu.be/w5I--2s0pSA?si=ouuJGMBwtyLC7qCA
My name is Julia Hurley and I am a Professional Licensed Broker of Just HomesGroup in Knoxville TN. I am a member of the Knoxville Area Associated of Realtors, Greater Smoky Mountains Association of Realtors, Knoxville Commercial Realtors and Real Tracs Nashville a.k.a. KAAR,  GSMAR, and KAARCIE, have been working in real estate since June 2014. I am a Multi-Million dollar producer and continue to excel and grow through educating myself in an effort to provide you with the best service possible.
click the photo for a peak at our show, SELLING KNOXVILLE
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Posted in Home Buying
Jan. 11, 2024

Lower Rates Means Purchasing Power


If you're contemplating buying a home in Knoxville, Tennessee, you're in a city gaining popularity as the 5th most desired relocation destination according to UHaul newest numbers. Understanding how mortgage rates impact your affordability and monthly payments is crucial, and recent data from Freddie Mac reveals a significant decrease in rates for 30-year fixed mortgages, currently standing at under 7% (see graph below):

This favorable trend is particularly advantageous for potential buyers, providing relief from the challenges posed by housing affordability, as highlighted by a recent Bankrate article:

“The rate cool-off somewhat eases the housing affordability squeeze.”

Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA), emphasizes:

“MBA expects that affordability conditions will continue to improve as mortgage rates decline . . .”

Understanding how mortgage rates impact your monthly home payment is essential for your journey to homeownership. The chart below illustrates the relationship between mortgage rates and your ability to afford a home. Assuming your budget accommodates a monthly payment between $2,400 and $2,500, the green area in the chart represents payments in that range or lower:

Even minor fluctuations in rates can significantly influence your budget and the loan amount you can comfortably afford.

To navigate these dynamics effectively, seek guidance from a local real estate agent and a reliable lender. They can assist you in exploring various mortgage options, comprehending the factors influencing rate changes, and adapting your strategy based on current rates.

Considering the recent decline in mortgage rates, now is an opportune time to strategize your next steps in the Knoxville real estate market. Let's connect and explore the possibilities for your home purchase.

Posted in Home Buying
Jan. 8, 2024

Knoxville Does it Again

Tennessee was among the hottest states in the country for where people were moving last year, according to the latest annual ranking from U-Haul International Inc.

The Volunteer State ranked No. 5 among the top U.S. growth states in 2023, up from No. 6 in 2022. 

U-Haul collects migration data from more than 2.5 million one-way U-Haul truck, trailer and moving container rentals for the year. It ranks the top "growth states" and "growth cities" by net gain, which contrasts the number of one-way U-Haul trucks entering a city or market versus those leaving.

U-Haul migration trends don't directly correlate to an area's population or economic growth, though the company said its ranking is "an effective gauge of how well states and cities are attracting and maintaining residents," according to an announcement. This data can inform the real estate crowd on potential housing needs and can tell businesses where corporate players, and their workers, are headed.

Knoxville was the top Tennessee city on the recent list, coming in at No. 17. Murfreesboro (No. 21) was the only Middle Tennessee city to make the top 25. Though the report also lists Clarksville and Chattanooga among "five more notable cities that just missed the cut."

As I have been saying since 2022....


Jan. 2, 2024

House Didn't Sell Now What

If your listing has expired without a successful sale, you might understandably feel a mix of frustration and disappointment. Understanding what may have gone wrong is essential to figuring out the next steps. Here are three critical questions to consider as you strategize for a successful relisting.

Did You Limit Access to Your House? A common mistake when selling a house is restricting potential buyer access by imposing rigid showing schedules. While it might seem inconvenient, being flexible with access is crucial. Limiting showings limits exposure to potential buyers. ShowingTime recommends being as flexible as possible with access:

“. . . do your best to be as flexible as possible when granting access to your house for showings.” Buyers, especially serious ones who might travel from afar, might find it challenging to view your property if restricted to specific times. Maximizing access increases the chances of attracting a diverse pool of interested buyers.

Did You Make Your House Stand Out? First impressions matter in real estate. The appearance of your home, both inside and out, plays a significant role in attracting buyers. Enhance your home's curb appeal by refreshing the landscaping. A well-presented exterior creates an impactful initial impression. As noted by U.S. News:

“... if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.” Beyond the exterior, ensure the interior is decluttered and depersonalized to allow buyers to envision themselves in the space. Simple improvements like fresh paint or thorough cleaning can elevate your home's appeal.

Did You Price Your House at Market Value? Pricing your house correctly is pivotal. While aiming for a higher profit is natural, overpricing can deter potential buyers and prolong the selling process. Forbes highlights the risk of overpricing:

“Pricing a home too high could lead to a slower sale or force the seller to drop their price.” Pay attention to feedback from potential buyers during showings. Consistent feedback suggesting overpricing might indicate the need for a price adjustment.

For comprehensive guidance and strategies to relist your home effectively, consulting a knowledgeable real estate agent is invaluable. An experienced agent will offer expert advice tailored to your specific situation and market trends.

Bottom Line Experiencing disappointment when your listing expires without a sale is normal. Let's collaborate to assess the situation, understand the challenges, and devise a winning strategy to relist your Knoxville, TN home successfully through JustHomesGroup.




Posted in Home Selling
Dec. 18, 2023

Housing Sales Persist

Housing Sales Persist: Higher Prices, Rates Increase


Even amidst concerns about mortgage rate increases affecting buyer demand, data indicates a persistent interest among potential buyers in the housing market. While the market may not echo the frenzy of the past 'unicorn' years characterized by historically low mortgage rates and soaring home values, it remains active with buyer activity showing promising signs.

National Trends and Knoxville, TN Home Statistics
Despite the rise in mortgage rates, national buyer demand remains notably higher compared to pre-'unicorn' years. The ShowingTime Showing Index, depicted in the graph below, exhibits buyer tour activity over the last eight Octobers, highlighting sustained interest even after the 'unicorn' years.

However, increased buyer activity isn't solely reflected in tours but extends to multiple offers received by sellers. The latest data from the National Association of Realtors (NAR) suggests that sellers are still obtaining an average of 2.5 offers on their properties, as illustrated in the graph below.

Homes Priced Right Are in High Demand
It's crucial to note that homes priced appropriately are moving swiftly. Zillow highlights that low inventory levels are fostering robust competition among buyers, resulting in properties being sold at a brisk pace.

According to data from NAR on median days on the market, homes this year are selling only slightly slower than during the peak of the 'unicorn' years, as illustrated below.

Local housing statistics in Knoxville, TN, within the JustHomesGroup brokerage area, mirror national trends. While the market might not reflect the intensity of previous years, it continues to showcase robust buyer interest.

 Selling Opportunity Prevails
For prospective sellers, the present market offers a favorable window with multiple offers and rapid home sales. This sustained demand underscores a prime opportunity to sell your property. When you're ready to navigate this active market in Knoxville, TN, served by JustHomesGroup, let's collaborate to leverage these advantageous conditions and make your selling journey seamless and rewarding..

Coming Soon Homes 12/18/23
Dec. 4, 2023

Home Prices Constantly Rise

Home Prices Constantly Rise


Even with concerns lingering about the housing market, particularly regarding potential price drops, several people still harbor worries about another imminent price crash. A recent survey by Fannie Mae revealed that around 23% of consumers anticipate a decline in prices over the next 12 months, contributing to a pervasive fear among potential buyers and homeowners.

However, to allay these concerns, let's delve into what industry experts predict for home prices, not just in the upcoming year but over the next five years.

Projections by Market Experts Gathering insights from a wider spectrum of experts can help assuage these concerns. The Home Price Expectation Survey (HPES) conducted by Pulsenomics is a comprehensive resource pooling the forecasts of over 100 economists, investment strategists, and housing market analysts. The latest quarterly release reveals a consistent upward trend in home prices through 2027, as depicted in the graph below:

While the forecasted increase for 2024 might not be as pronounced as that in 2023, it's crucial to note that home price appreciation compounds over time. If these experts' estimations are accurate and your home value rises by 3.32% this year, it's projected to increase by an additional 2.17% next year.

National vs. Local Perspectives When comparing national home values to local markets, the Knoxville, TN area, served by JustHomesGroup Knoxville Real Estate Brokerage, has seen robust growth. While national trends indicate a sustained increase in home prices, local market dynamics often play a crucial role in variations. Knoxville's housing market has shown resilience and consistent growth, with home values performing admirably compared to the national averages.

The Bigger Picture For those anxious about potential price drops, it's essential to note that while prices may fluctuate regionally, the consensus among experts indicates a sustained increase across the country. This anticipated rise is expected to be at a more normalized pace for the market.

What This Implies for You To illustrate the potential impact, let's consider a scenario using the expert projections from the HPES. For instance, if you bought a $400,000 home at the start of this year, factoring in the forecasts from the HPES could translate to accumulating over $71,000 in household wealth over the next five years, as depicted in the graph below:

Closing Thoughts For those concerned about an impending drop in home prices, insights from a multitude of experts paint a different picture – indicating a sustained upward trajectory in home prices not just in the upcoming year, but for the foreseeable future. Should you have any queries or apprehensions regarding the future of home prices in our local Knoxville area, served by JustHomesGroup, don't hesitate to reach out for further clarification and guidance.

Price Reduction Homes
Dec. 1, 2023

We Have News

The Very Contrary Fairy

Strong willed and highly capable, young princess fairy decides to run away and have life her way!  But as it gets darker and scarier, who comes to save the day?! 
MY FIRST CHILDREN'S BOOK is finally available.  I am so pleased to be able to share this with you all.
Please click HERE to order from amazon 


Two Years Old 

Our family poodle, Mr Ripp, is two years old today!  Celebrating his birthday with a pup cup, birthday song and family time is his favorite. (If you happened to send us a real estate referral I am positive he would appreciate the gift)! 

2023 Woman of the Year!!  After a decade in the business this award is very special and the amazing opportunity to continue to represent sellers, buyers and investors in the East TN Real Estate market is the honor of a lifetime.  Without YOU, this award would not exist!  
Grab an online copy today! 

View the latest version of Selling Knoxville

Click here to learn all about one of the most exclusive events offered in Knoxville TN!!!! 

Nov. 27, 2023

What does owning a home do for you

Making the decision between renting and buying a home is pivotal, and the advantages of homeownership often sway many toward owning a home. The emotional and lifestyle benefits make it a compelling choice.

Here are some reasons why buying a home could be an extraordinary move for you:

A Secure Haven in Knoxville, Tennessee: Homeownership is more than just a physical space; it embodies security and safety. According to a Fannie Mae survey, "having a sense of privacy and security" tops the reasons why people prefer owning a home. Feeling secure and having a place to relax is an invaluable comfort cherished by homeowners in Knoxville, Tennessee.

A Canvas for Personal Expression with Julia Hurley Realtor: Your home is an extension of your personality. As per the National Association of Realtors (NAR), it’s your canvas to freely express yourself through decorations, upgrades, and personal touches. With guidance from Julia Hurley, a Realtor from JustHomesGroup Brokerage, you can personalize every aspect of your home in Knoxville, Tennessee, making it uniquely yours.

Community Connection and a Decade of Service: Homeownership offers stability, nurturing a deeper bond with the community over time. Residing longer in a neighborhood builds stronger connections. Engaging in local events, gatherings, and fostering relationships with neighbors becomes integral. JustHomesGroup, with a decade of service in Knoxville, Tennessee, understands the essence of community and helps you find a home that resonates with your lifestyle.

Building Lifelong Memories with JustHomesGroup: Your home becomes a treasure trove of cherished memories, weaving together significant life moments. From celebrations to everyday life, it becomes the backdrop for your stories. The team at JustHomesGroup Brokerage believes in creating a space where you can craft and cherish these memories.

Remember, homeownership in Knoxville, Tennessee transcends finances; it’s about establishing a stable sanctuary for lasting memories. If you’re contemplating buying a home and need guidance or advice, consider JustHomesGroup for a seamless relocation experience.

My name is Julia Hurley and I am a Professional Licensed Broker of Just HomesGroup in Knoxville TN. I am a member of the Knoxville Area Associated of Realtors, Greater Smoky Mountains Association of Realtors, Knoxville Commercial Realtors and Real Tracs Nashville a.k.a. KAAR,  GSMAR, and KAARCIE, have been working in real estate since June 2014. I am a Multi-Million dollar producer and continue to excel and grow through educating myself in an effort to provide you with the best service possible.
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Nov. 20, 2023

Home for the Holidays


At this juncture every year, homeowners contemplating a move face a pivotal decision: should they sell now or defer their plans until after the holidays? Some sellers currently with homes on the market may even contemplate withdrawing their listings until the new year arrives.

However, the reality is that many buyers are actively seeking homes, and yours might be just the right fit. As highlighted in an article from Fortune Builders:

“...while a majority might pause their real estate endeavors during the holiday season, you might find that as temperatures drop, the potential for a great real estate deal starts to rise.”

To affirm this perspective, here are four compelling reasons why delaying the sale of your house might not be the best choice:

  1. The urge to own a home doesn't diminish during the holidays. While some buyers might postpone their moving plans until January, others might have experienced life changes necessitating an immediate move. Those shopping for homes during this period are typically motivated and ready to make a move. According to Investopedia:

“Anyone seeking a new home between Thanksgiving and New Year’s is usually a serious buyer. Listing your home during this time can often lead to a faster sale to a motivated buyer.”

  1. Despite a slight recent increase in the supply of homes for sale, overall inventory remains lower than pre-pandemic levels. For sellers, this means that pricing your house accurately with the help of an agent could lead to a quick sale, given that today's buyers are actively seeking more options.

  2. By controlling the days and times for home showings, you can minimize disruptions to your schedule, which is particularly valuable during this bustling season. Moreover, buyers may demonstrate increased flexibility in scheduling house tours, given the holidays often afford more time off from work.

  3. Homes adorned with holiday decorations often resonate with many buyers, allowing them to envision creating their own cherished memories. According to advice from a selling-at-holiday-time article:

“If selling around a holiday with decorations up, ensure they complement rather than overwhelm a room. Less can often be more.”

In conclusion, there exist several compelling reasons to list your house during the holiday season. Let's discuss whether now is the opportune time for you to make that move.