Brian R Kelly

Tag: Chattanooga Real Estate

  • Chattanooga Real Estate Reflects National Trends

    Chattanooga real estate reflects national trends. Chattanooga is like many mid-western tertiary markets. We do not see the big booms or the steep falls that coastal or some primary markets tend to experience. Chattanooga is a mirror of the national economy. Chattanooga home sales under $100,000 fell in 2013. The national first time home owner market is down. Chattanooga home sales over $200,000 is up. The U.S. luxury home market is doing well. I noticed late summer Chattanooga home sales slowing. Two weeks later I am reading a National Association of Realtors report that U.S. sales are slowing.

    Real estate franchises reflect the same. I grew up in a real estate family. My Dad was an agent in the 70s. Both of my parents are brokers and have owned a company since the early 80s. I have observed closely the real estate franchises of Century 21, Better Homes and Gardens, GMAC, and Prudential. Keller Williams is a brokerage model that has been on the rise nationally over the last 5 years. It has been that way in Chattanooga as well. Real estate may be “local”, but overall national trends seem to play out in Chattanooga.

    Another trend I see is independent real estate firms sprouting. They are growing alongside the wave of technology changes. As I drive down the road I notice more Facebook business window ads. Creative entrepreneurs are serving customers with less overhead. Technology is allowing them to be more direct.

    The change in trends reflects a shift in how we “package” and “market” trust. As an example, the franchise Better Homes and Gardens conveys a message of trust because of its well established magazine and cookbook. Keller Williams (is not a well known household name brand) but it packages bits of ownership to its member agents. It is a way of conveying “trust” to its teammates. I believe technology changes are a result of people demanding more honest and trustworthy personal interaction. Brokerage firms will follow because agents and customers demand it. People are creating new forces to mold the real estate business. The Scenic City is not immune. Chattanooga real estate reflects national trends.

  • Recently Sold Homes Chattanooga TN 37421

    Recently Sold Homes Chattanooga TN 37421
    Sold Homes

    Recently Sold Homes Chattanooga TN 37421

    In August of 2013 there were 18 homes sold over $200,000.  Many of the homes are young.  The solds are as follows:

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    14 of the 18 sales are homes built in the last 13 years.  Newer homes are selling well.  So how is the market overall?  Well there are 165 homes for sale priced $200,000 or greater in 37421.  The average number of sales per month since January is 19.  So by dividing 165 by 19 we get just about 9  months of inventory.  This is a good market.  If the months of inventory were 6 or 7, then that would mean a stronger market.  Stronger markets invite builders and developers.  When the numbers start to go over 10-12 months that is a caution.

    If you are thinking about selling your home in 37421 then this is a decent market overall.  You need to ask your real estate agent several things.

    1.  How many homes are selling in the price range value of my home per month?

    2. How many homes am I competing with?

    3. What do I need to do to be the next home to win?

    If you are thinking of buying a home in 37421 then consider the lifestyle, amenities, location, and condition of the property.  There are many great neighborhoods in this area to choose from.  Subdivisions that sold 2 homes or more in August were Belleau Woods, Emerald Valley, Mountain Shadows, and The Lakes at Standifer.

    Recently Sold Homes Chattanooga TN 37421 shows August 2013 a solid month of sales.

  • Chattanooga Weather

    Chattanooga Weather
    Chattanooga Sky In Lookout Valley, TN

    Chattanooga weather. Why is a Realtor talking about weather? Because Chattanooga weather affects your home, your mood, and your lifestyle. Life in Chattanooga, TN enjoys a temperate climate. Highs in the summer reaching in 90s and lows in the winter in the 20-30s.  September 3, 2013 the high is 88 and low at 6am is predicted 65 degrees.

    Chattanooga, TN enjoys 4 seasons. We enjoy relatively mild winters with 2 or 3 snow or ice events. Spring brings rain and warmer temps. The warmth of the longer days causes green to rise from the valley floor to the top of Walden’s Ridge. Summers are fairly hot and humid. Fall is my favorite season in Chattanooga because drier cool crisp air floats in. The coolness brings about gorgeous leaf colors. The mountains that surround Chattanooga provide a warm red, yellow, and brown mosaic quilt in late October.

    Micro Climates in Chattanooga

    Is it raining at your house? Chattanooga is wonderful mix of terrain. The Tennessee River winds around the valley floor (Chattanooga elevation is 680 above sea level). 1,700 feet above the river local mountains guard Chattanooga and the valley below (Lookout Mountain, GA elevation at High Point is 2,392).  Hang glider pilots enjoy the thermals that are caused by air currents and temperature differences. It is typically warmer on the valley floor by 6 – 10 degrees than on top of the ridges.  I lived on Signal Mountain, TN and remember frequent foggy winter conditions.  The temperature and elevation differences can result in a bit more ice and snow on the mountains.

    Weather Trends

    I grew up in Chattanooga, TN in the 1960s and 70s.  There are temperature inversions that happen. The EPA documented a study in 1967 about Chattanooga air.  Chattanooga was a much more polluted city in 60s. Temperature inversions frequently trapped the smog layer below warmer air above. Chattanooga is much cleaner now, check out this article about the process.

    Weather has changed over the decades.  As global weather patterns shift, Chattanooga weather is not immune. I have noticed more tornados in the last few years near Chattanooga, TN. Local buyers more frequently ask for basement homes now.  Chattanooga seems to have warmer winters than previous decades.  We also take part in unusual weather patterns.  The summer of 2013 is one of the wettest summers I recall.  The typical August in Chattanooga calls for irrigation to your thirsty landscaping.  The winter, spring seasons bring more liquid sunshine.

    Local Weather Radar

    Two local TV stations, WRCB and WTVC provide local weather radar apps. These apps appear to have the same engine from Intellicast. The best thing about the local apps is area news alerts. One of the best weather apps regardless of location is AccuWeather.

    Summary

    Chattanooga weather provides for great outdoor activities.  People from Texas are always amazed at how green Chattanooga is.  Folks from Western states are surprised at the amount of liquid in the air (humidity).  Chattanooga weather is a tad mysterious and fun.  It reflects the terrain, water and the people.

  • I am Surrendering To Balance In My Life

    Brian R Kelly
    Brian R Kelly
    I am surrendering to balance in my life. I fought it well. I argued about the lack of balance even from a Biblical perspective with my entrepreneur friends. To be fair let me help put this in perspective. I love work. I am passionate about business. I enjoy challenges. This blog run is a challenge from God to be diligent to write for 45 days straight. (Doing something daily that is this unnatural is unnerving for me) I have an addictive and caffeinated spirit. When your spirit is dry and starts to focus on self instead of finding life pleasing God and others, then you can be on a path for death.

    I was on that path 7 years ago. Pride and arrogance were wrapped in a thin t-shirt of false humility. In the fifth row of observers of life’s grandstand, Brian “looked” pretty good. Achievements in business seemed fairly easy. Circumstances around me changed in 2007 in the real estate market. I made stupid decisions mostly because my imbalance in life. What do I mean by that?

    Well,… what is “balance”? I am not talking about Karate Kid on one leg in a stork position balance. Zig Ziglar called it the wheel of life. I understand the metaphor, but I see my balance more like a gyroscope. The gyroscope is me. Outside forces from life can poke it and rock it. Regardless of the disruption, I can stay balanced because at the center axis is God. Inside the gyroscope outer ring of protection is my wife and children. My responsibility as a husband and father is to provide and protect. Outside the gyroscope lies my work and others.

    Frank Ramseur, (Pastor at Calvary Chapel Chattanooga) taught a good and Godly life is a filtered life. God comes through first, then Family, then Work, then Ministry. What does it mean to focus on God first? He gave the example of William Whiting Borden’s life. A remarkable man, Bill graduated Yale and Princeton Seminary. He died in Egypt at age 25 studying Arabic because he had a passion for Muslims. He gave up his Father’s fortune and work, lucrative job offers, etc. He wrote in his Bible, No Reserves, No Retreats, No Regrets. Read his story here.

    My filter a mere 7 years ago was broken. Work was my focus and first priority. Because of that and my pride, I did not listen to others around me. I was not doing well with any areas much less the area I loved, work. Football coaches call it “reading their own press clippings”. Regardless of what you call it, my pride lead me easily to make decisions that cost me my integrity with God, my family, work and my ability to give or minister.

    So, what is my response today? Work diligently to keep God my focus. Keeping fixed to a task is difficult for my personality, but I do respond to challenges. Pastor Frank challenged the congregation to read every day to keep the filter clean. That simple discipline helps. A teacher and mentor of mine encouraged me to keep a prayer journal. To make that unique, I bought a Go Dog Go spiral homemade notebook from a local craft store in Chattanooga. Reading, engaging, praying, listening with the Maker of the universe is an honor and privilege. Not to mention the only way to understand my direction.

    So again, 45 days of consecutive blog posts is what I believe God asked me to do. My filter in life dictates that I am immediately obedient to His call. As I follow His lead He empowers me to serve my wife, and adult children, others in my work and others in ministry. My Maker is balance, peace, and life. He gives me the energy to “spin” as I am surrendering to balance in my life.

    Yesterday, I wrote about the real estate market and Realtors enjoyed it. John Wilkinson, a real estate professional, asked me to write about the how interest rates are affecting investors as well as the apartment construction and rental rates. Are there topics that you are interested in me researching or sharing? If so, please respond and ask.

    Thanks for reading!