REAL ESTATE NEWS
As we head down the homestretch of 2017, it looks like 2017 home sales in our area will end the year 8-10% above 2016, with prices up 10-12%. Sales totals could’ve easily been higher, as buyers continue to battle over a limited-supply of affordably-priced homes. While I wish that I could say that I see the supply increasing, there are no signs of this, as the only new construction in most areas is limited to higher-priced homes. So why is this? Why aren’t builders building more affordable homes?
The primary reason is due to the scarcity of available land in most areas. When there is not much land available to build on, lots prices tend to rise, and this in-turn drives the higher home prices. While it is not an exact formula, in most cases lot prices drive home prices…if the lots cost $100,000, then the homes are going to be around $500,000. If the lots cost $150,000, then the homes are going to be in the $750,000 range. It’s just the way it works.
In closing, I’d like to say THANK YOU to each of you who have allowed me to serve as your Realtor in 2017, as well as to each of you who have recommended me to a friend or family member. I truly appreciate the confidence that you placed in me, and I wish each of you a very Merry Christmas!!
From a Recent Client
“Ken was the consummate professional, covering all the details efficiently & quickly, and dealing with any issues without the need for me to monitor or check progress. The sale went through quickly, as all barriers were eradicated.”
Do you have a special childhood Christmas memory? When I think about that, it can be summarized in one word… Family. We never had a lot of stuff when I was growing up, and I don’t remember many gifts I received as a kid, but the one thing I remember is that we always got together with family. Every Christmas eve, everyone would gather at our house or at one of my aunt and uncles, and we’d enjoy tons of good food, singing Christmas carols, opening gifts, and busting open a pinata and scrambling for the candy. As I get older, I realize how special these moments are. Fortunately, our family has been able to maintain this tradition that was started by our parents and grandparents and aunts and uncles. In a few weeks, we will get together again with brothers, sisters, parents, grandparents, aunts, uncles, and cousins to once again celebrate Christmas, and I’m looking forward to it more than ever. If you have the privilege to get together with your family this Christmas season, I encourage you to stop, and enjoy the moment…it really is a special time!
What Ken’s Clients are Saying
“Ken was exactly what you want in a Realtor. His priority is not simply to find a house for you, but to find the right house, the one that he truly thinks you will be happy living in. He is both professional and personable, the perfect combination. My family will continue using Ken for all of our real estate needs.”
-V. J. Dunavant
1011 W. Poplar, Suite 8
MORTGAGE RATE UPDATE
30-year fixed rate 3.875%
(Rates provided by Patriot Mortgage on 12/7/17.)
My brother Eddy recently put together a duck hunting trip to Missouri. The guys had a successful day, bringing 16 birds home to fill the freezer. Pictured L to R are Eddy, Luke Saunders, Ryan Stonebrook, Cole Stonebrook, and Alex Solomito.
SOLD IN 2 DAYS
RARE OPPORTUNITY TO LIVE IN THE WOODS...ONE OF COLLIERVILLE'S CLASSIEST NEIGHBORHOODS. UPDATED KITCHEN & BATHS, HARDWOOD UP & DOWN, 4 BRs, PLAYROOM, OFFICE & SUNROOM. KITCHEN INCLUDES GRANITE, STAINLESS, TILED BACKSPLASH, UNDER CABINET LIGHING & 2 PANTRIES. LOTS OF WOOD FLOORS UP & DOWN.
1011 fAIR OAKS — $350,000
SUPER CUTE 3 BEDROOM 2 BATH PAINTED BRICK BUNGALOW WITH IRON GATE & FENCING. COMPLETELY RENOVATED, INCLUDING LARGE KITCHEN WITH GRANITE COUNTERS & STAINLESS APPLIANCES, UPDATED MASTER BATH & LARGE WALK-IN CLOSET, GORGEOUS HARDWOOD FLOORS, AND NEW HVAC & DUCTWORK.
464 S. HOLMES — $229.900
SOLD IN 1 DAY
CORDOVA-SPACIOUS 4 BR, 3 1/2 BATH HOME WITH UPDATED KITCHEN & EXPANDABLE AREA UP. OPEN FLOORPAN WITH 3 BEDROOMS DOWN. UPDATED KITCHEN INCLUDES NEW TILE FLOOR, SOLID-SURFACE COUNTERS, TILED BACKSPLASH, & PAINTED CABINETS. UPSTAIRS INCLUDES A LARGE PRIVATE SUITE PLUS A LARGE EXPANDABLE AREA.
1960 MAPLE CREEK — $169,900
CUTE 3 BEDROOM, 2 BATH SINGLE-STORY HOME WITH A 2 CAR GARAGE...LARGE 18X17 GREATROOM WITH WOOD-BURNING FIREPLACE, NEW STAINLESS APPLIANCES, NEW FIXTURES, IRON GATE, FENCED BACKYARD, 2 YEAR OLD ROOF + MUCH MORE. MASTER SUITE HAS PRIVATE BATH.
405 BOULDINCREST AVE. — $185,000.