Majority Of Renters Recognize Benefits of Homeownership

Thursday, June 28, 2018 - by Geoff Ramsey, president, Greater Chattanooga Realtors

Most renters say homeownership is one of their highest priorities for the future and they are thinking more about purchasing a home now than in past years. Given that information, it shouldn’t come as a surprise that Americans overwhelmingly believe owning a home is a good financial decision.

 

Renters are increasingly recognizing the benefits of homeownership. In addition to its many social benefits - such as providing a stable, safe environment -the financial benefits of owning a home are even more apparent to renters now.

In some areas of the country it’s cheaper to own a home than it is to rent. Homeownership also is one of the best ways to build financial security over the long term. In most cases, the benefits of homeownership far outweigh the benefits of renting.

 

A National Housing Pulse Survey, which measures consumers’ attitudes and concerns about housing opportunities, found that Americans’ outlook on the housing market is improving. Nearly four in 10 Americans (38 percent) identified an increase in activity within their local housing market in the past year, compared to just 22 percent who reported a slowdown in activity. Respondents were also less concerned than in the past about the drop in home values and foreclosures.

 

The survey also found that more than two-thirds of those surveyed said now is a good time to buy. Greater Chattanooga REALTORS® believes that despite a recent rise in mortgage rates and lower home inventory levels, affordability conditions remain favorable for buyers.

 

It’s a seller’s market in most areas of the Chattanooga region, however, that doesn’t mean there aren’t still opportunities for buyers. Buyer traffic is also up from this time last year, so it’s evident that people want to be homeowners.

 

Greater Chattanooga Realtors has a few tips for renters or move up buyers looking for a new place to call home. First, know your credit history and understand how the credit system works. Next, do your research. Home inventories are low in many areas and sellers are receiving multiple bids, so it’s imperative to be ready to make an offer when you see a home you like. Then, identify neighborhoods that you like and think about what you need and want in a home.

 

Most importantly, contact a Realtor in your area. Realtors are the most trusted resource for real estate information and can give buyers the advantage they need in today’s market.

 

For more information about buying or selling a home, contact Greater Chattanooga REALTORS to speak with a REALTOR®.

 

On Aug. 14, join us for the Annual Economic Outlook Luncheon, co-hosted with Home Builders Association of Greater Chattanooga. We will look at how the Chattanooga region has thrived and changed in the past year and what’s to come. Tickets go quickly so purchase yours today on www.gcar.net or call 423.698.8001.


Normandy Apartments In Red Bank Sell For $5,850,000

Real Estate Transfers For Nov. 1-7

CBL Properties Announces Gary Bryenton And Gary Nay To Retire From Board Of Directors


The Normandy Apartments in Red Bank have sold for $5,850,000. The complex is at 3507 Dayton Blvd. The sale was from Robert W. Monday to Andrew Sephos Raymus Tr, Toni Marie Raymus Tr, Marie ... (click for more)

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding ... (click for more)

CBL Properties announced that Gary Bryenton and Gary Nay will retire from CBL’s board of directors, effective Dec. 31. “CBL has greatly benefited from the valuable insight, guidance and ... (click for more)


Real Estate

Normandy Apartments In Red Bank Sell For $5,850,000

The Normandy Apartments in Red Bank have sold for $5,850,000. The complex is at 3507 Dayton Blvd. The sale was from Robert W. Monday to Andrew Sephos Raymus Tr, Toni Marie Raymus Tr, Marie Antoinette Raymus Tr, Andrew S. Sephos and Toni Marie Raymus Community Property Trust. (click for more)

Real Estate Transfers For Nov. 1-7

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) in ... (click for more)

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Chicago Drug Dealer Who Supplied Large Amount Of Heroin To Chattanooga Contacts Found Guilty By Federal Jury

A Chicago drug dealer who prosecutors said supplied a large amount of heroin to sources in Chattanooga was found guilty by a federal jury in Chattanooga on Tuesday. James Silas, 50, was convicted of conspiring to distribute one kilogram or more of heroin. Sentencing is set for April 24 at 2 p.m. by Judge Curtis Collier, who presided over the trial. Based on a prior drug ... (click for more)

Opinion

Thanks To First Volunteer Bank

Thank you to the Highway 58 branch of First Volunteer Bank. On behalf of the Ernie Pyle Chapter of the Military Order of the Purple Heart, I would like to express our appreciation to the manager and staff of the HIghway 58 Branch of First Volunteer Bank for putting on a Veterans Day lunch in the lobby of your bank on Friday, Nov. 9. It was a cold and rainy day and Army, Marines ... (click for more)

Roy Exum: ‘Easy Eddie’ & Butch

Not an hour’s drive from where I now sit is one of the best restaurants in all of Tennessee. Its been some years since I last ate supper at High Point, a legendary mansion restored to elegance by the current owners but, back in the ‘60s, I got a wide-eyed teenager’s peek at the place one Sunday afternoon. What’s this? 14-inch walls filled with sand to stop a G-man’s bullet? Escape ... (click for more)