It’s crazy to think we are already half way through 2023! While the real estate market has been ever changing, it has still been a busy year so far. The most common question people ask is– how’s the market going? So let’s talk about how the first half of 2023 has been.

How is the current market?

It is still a seller’s market. WAIT! Don’t leave! It may still be a seller’s market, but it is not the same type of seller’s market that we saw in 2020, 2021, and 2022. Interest rates, inventory, days on market all look very different from this time last year. So what does that mean?

Interest rates are higher than they have been in the previous years. A significant amount of people either bought or refinanced within the last few years to take…

If you’ve kept up with the real estate market over the last few years, you’ve probably noticed it has been anything but what we would consider “normal.” Historically low interest rates, property values increasing exponentially, and houses selling within hours! In the last half of 2022, we saw an increase in interest rates which caused the market to shift a bit. 

We are currently still in a sellers market as there are still many buyers looking for a home and not enough sellers. While it is incredibly unlikely that we will see interest rates drop to 2% and 3% again, those low interest rates seem to still have an effect on our current market. Many people who purchased or refinanced in the last several years locked in the lower rates and now they…

There has never been a better time than now to list your home! The home inventory in Chattanooga and North Georgia is so low that homes are selling in just hours of being on the market. 

Choosing a Realtor is the most important step in the process, so if you’re thinking of listing your home, here are just a few questions to get you started: 

1. How many clients do you have right now? 

This question is worthwhile for two reasons. First of all, you want to know how much business your potential Realtor is doing. If they only have a couple couple of clients, you have to wonder why. But also if they are a mega agent with more clients than they can handle, will your home get the attention and effort that it needs? Make sure that there is a good balance…

Now that we’re halfway through 2018, we thought it was a great time for a mid-year review of Chattanooga’s booming real estate market. With low home inventory and plenty of people either relocating here or choosing to buy a home, there are great opportunities for both buyers and sellers in today's market. Here’s what we know looking back on 2018 so far:

1. Median sale price is at a three-year high in the Greater Chattanooga and North Georgia areas

The median sales price for 2018 is currently at $201,000, while in 2016 it sat at $172,000. Home prices are doing well in many areas of our market. For example, in St. Elmo homes sell 30 days faster than the area average and for almost $10,000 more than other areas! Many sellers are surprised by home…

Looking back on 2017, we can see just how booming Chattanooga’s real estate market really is. With low home inventory and plenty of people either relocating here or choosing to buy a home, there are great opportunities for both buyers and sellers in todays market. Here’s what we know looking back on 2017: 

1. Over $2 billion sold in the Greater Chattanooga and North Georgia areas

Chattanooga and North Georgia’s real estate market was busy for 2017, with no signs of a slowdown as we make our way into the new year! It’s a great time to be either a buyer or a seller in our local market. 

2.  The Torgerson Team sold homes in an average of 25 days on market (compared to Chattanooga’s overall average 59 days on market)

Because home inventory is…

Buying or selling a home is one of the most important financial decisions you’ll ever make, and the real estate agent you choose to help you is going to make all the difference! But with a market flooded with Realtor and real estate agent options, how do you choose? Here are the most important boxes to check in the process: 

1. Make sure the agent is full-time, not one who does real estate part time on the side

You want to choose an agent that is fully invested in their business, and therefore, you! Someone who does real estate on the side is not going to be fully committed to working for you and will instead have other things—like their full-time gig—taking priority. 

2.  Avoid hiring a relative

It can get a little personal when you mix…