Daniel Burnside Lake Homes Realtor

12/03/2025

03/15/2025

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Quarterly Newsletter - Spring

As we wait for the arrival of spring, many lake homeowners and enthusiasts are already making plans for spending more days at the lake. Whether it's renovating your lake home or staying up-to-date on the hottest lake real estate markets, in this issue of the Lake Homes Realty newsletter, we'll explore real estate trends and insights as well as tips and advice for lake living during the spring season.

Winter lake landscape.
The State of Lake Real Estate
Whether you're in the market for purchasing or selling a lakefront property, or just seeking to stay current on the latest developments in the lake real estate scene, we've got you covered with all the essential tools and information to keep you well-informed this spring.

A “Rich Idiot” Isn’t Coming to Buy Your Lake Home – But a Savvy Buyer Will
The Lake Real Estate Market Report
Today’s buyers are well-informed and know exactly what they’re willing to spend. The market is filled with financially strong buyers, many paying in cash, which means overpriced listings won’t tempt them. They’re looking for homes priced realistically and won’t waste time on properties that feel like a seller’s jackpot.

“To be blunt,” says Glenn S. Phillips, CEO of Lake Homes Realty, “sellers will begin to accept that a rich idiot is not coming to buy their lake homes at a price well above market value.” LEARN MORE>>

In addition, our new Spring 2025 Lake Real Estate Market Report shows an increase in lake property listings, with 89,600 available--up 6.8% from spring of 2024, bringing the total lake market value to $48.36 billion. LEARN MORE>>

As a multi-state, full-service brokerage, Lake Homes Realty has access to extensive data from hundreds of lake real estate markets. This information is meticulously compiled and presented in our quarterly lake real estate market report, offering the most comprehensive insights into lake real estate trends across the nation. DOWNLOAD NOW>>

If you're interested in a market report for your specific lake area, be sure to reach out to one of our market experts! FIND AN AGENT>>

Keys to a house
In Lake Real Estate “Highest And Best Offer” Is Not An Auction

In a competitive lake real estate market, “highest and best” doesn’t mean an auction! Sellers, it’s not just about the biggest number—it’s about the best overall offer. From financing to contingencies, there’s more to consider than just price.

READ MORE>>

Question mark on a chalkboard.
AVOID These 5 Questions When Selling a Lake Home

Selling your lake home? Some questions can do more harm than good! From pricing pitfalls to buyer turn-offs, avoid these 5 common mistakes to make your sale smoother. Learn what NOT to ask! READ MORE>>

Stacked coins.
4 Things Lake Home Sellers Say That Cost Extra

Thinking of selling your lake home? Watch what you say! Certain phrases could end up costing you more than you think. Avoid these common seller slip-ups and maximize your sale!

READ MORE>>

Real estate agents in a meeting with clients.
4 Pointless Beliefs of Lake Real Estate Agents

Not all real estate advice is created equal! Some common beliefs among lake real estate agents might actually be holding you back. Discover the 4 myths that could be costing you time and money! READ MORE>>

SUBSCRIBE TO REAL ESTATE NEWS>>>

Lake Homes Lifestyles

Explore a variety of articles that span from lake home design trends to exciting travel destinations, all aimed to enhance your lake living experience this season.

Lake house deck railing.
Top Deck: Frame Your Lake View Like A Pro with these Deck Railing Styles

Your lake view deserves the perfect frame! From sleek glass panels to classic cable railings, the right deck design can make all the difference. Check out these top deck railing styles to elevate your lakefront living! READ MORE>>

Native landscaping at a lake house.
Wild Landscaping: Replace Your Lakefront Lawn with Native Low-Maintenance Alternatives

Ditch the high-maintenance lawn and go wild with native landscaping! Enhance your lakefront property with eco-friendly, low-maintenance alternatives that look great and support local wildlife. READ MORE>>

Lake house kitchen.
Fresh Vibes: Upgrade Your Lake Home with These 2025 Kitchen Design Trends

Give your lake home a fresh new look with 2025’s hottest kitchen design trends! From natural textures to modern finishes, these upgrades will make your space feel stylish and serene. READ MORE>>

Pile of mussels.
From Stream to River: The Fascinating World of Freshwater Mollusks

Dive into the fascinating world of freshwater mollusks! From streams to rivers, these unique creatures play a crucial role in our ecosystems. Learn more about their importance and how they thrive in freshwater habitats! READ MORE>>

Sunset on Old Hickory Lake.
Lake Living on Old Hickory Lake, TN

Discover the charm of lake living on Old Hickory Lake, TN! From boating and fishing to breathtaking views, this hidden gem offers the perfect lakeside escape. Explore what makes it so special! READ MORE>>

Women painting a wall.
Homes, Hammers, and Happiness: Lake Home Remodeling and Its Impact on Mental Health

Remodeling your lake home isn’t just about upgrades—it can boost your mental health too! From creating a peaceful retreat to the joy of a refreshed space, see how home projects can bring happiness. READ MORE>>

02/24/2025

Spring is about to bud and burst forth to our area. Let us help you get your home sold! 423-994-8389

02/10/2025

Check out 663 Dogwood DR. Spring City TN great Watts Bar lake front property for sale!

01/31/2025

Market Pulse

January 2025

Strong performance in December and continued market resilience in East Tennessee are good indicators for an improvement in the housing inventory crunch.

In reversal of the typical seasonal decline, East Tennessee home sales picked up 3.4% at the end of the year. This reflected the national market, with a strong jobs report and slight increase in inventory helping to bolster housing consumer optimism; nationally, both new home sales and existing home sales saw their best performance since 2021. Apartment rent growth continued to slow in our region thanks to inventory improvements, with the Knoxville metropolitan statistical area landing at -0.9% YOY price growth at the end of the year.

Home Sales Report
December 2024

East Tennessee home sales increased a surprising 3.4% from the previous month, a 14.5% increase from the previous year.
The median sale price was $374,000 — up 8.41% from the previous year.
Total housing inventory increased from the previous year – up 28.4%.
Half of the homes sold were under contract in 30 days or less, up from 18 days a year ago.
37.52% of homes sold for the asking price or above, with 19.89% selling for more than the asking price. 8.98% sold for at least $10,000 over asking and 2.74% sold for at least $25,000 over asking price.
The sale-to-list price ratio decreased from last month to 94.5% – down from 97.8% a year ago.
New construction held steady at 15.3% of total home sales.
East Tennessee REALTORS® reports home sales data using a seasonally adjusted annualized rate (SAAR). This method takes into account seasonal fluctuations in the real estate market, such as increased home sales during the spring and summer, by adjusting the data to provide an annualized rate representing the projected number of homes that would be sold over a year if the current sales pace were to continue.

What's the Outlook? After two straight years of steep decline, 2024 marks the first upturn in seasonally adjusted home sales at 1.8% from 2023. While modest, this validates many indicators that the local housing market is beginning to recover even as our region remains among the top population growth areas nationwide.

East Tennessee home sales continued to increase in December at a faster pace than expected, jumping 14.5% from December 2023. Mortgage rates stayed at or above 7% throughout December, ending the year at 6.93%. The affordability of homes will improve if rates continue to steady as expected, but national policy announcements have had added unpredictability.

East Tennessee housing inventory decreased 7% in December, a slightly larger decrease than the typical seasonal occurrence. This reflects the increased demand for homes in December amid renewed optimism, with new listings following seasonality at 1,333 postings and 1,476 listings being snapped up by buyers. Also, in line with market movement, the median sale price decreased only slightly month over month from $375,000 in November to $374,000 in December.

Knox County also saw home sales increase 10.8% from the previous year and decrease 5.6% over the previous month. The data shows a 23.4% increase in inventory over this time last year, an encouraging trend.

Housing inventory across most of the East Tennessee region decreased in December, a typical seasonal pattern. At the end of December, active listings across the region were up 26% from the previous year. 10 of the 12 counties covered by the East Tennessee REALTORS® Multiple Listing Service recorded month-over-month declines in available inventory.

01/14/2025

Mortgage rate snapshot
Rate sheet for real estate and new construction professional
Monday, January 13, 2025, Interest rates effective as of 1/13/25 9:20 AM
Region: East Tennessee
Rates and program information are deemed reliable but not
guaranteed. The following rates are based on the purchase
of a single-family, single unit, detached, primary residence
only. Rates assume a 30-day lock and are subject to
change without prior written notice. All rates are subject to
length of lock, pricing adjustments for credit score, loan-to-
value, property location, and additional factors based on
loan program. Affordable programs, down payment
assistance programs, and construction-to-permanent loan
options may be available.

For more rates and product
information, contact:
Josh Weekley
423-310-2729
[email protected]
NMLSR # 2014056
Your clients can easily
apply online at
www.truist.com/josh.weekley

Agency 1 Rates Points
30 yr Fixed 6.990 0.791
15 yr Fixed 6.100 0.909
7/6-month ARM 2 7.100 0.834
HR/HP 30 yr Fixed 3 6.800 0.801
FHA 4 Rates Points
30 yr Fixed 6.625 0.922
VA 5 Rates Points
30 yr Fixed 6.600 0.765
15 yr Fixed Call for a
quote 0.000
Jumbo 30 yr Fixed 6.600 0.713
Rural Development 6 Rates Points
30 yr Fixed 6.375 0.589
Doctor 7 Rates Points
30 yr Fixed 7.000 0.983
15 yr Fixed 6.675 0.999
7/6-month ARM 2 6.575 0.960
Agency High Balance 8 Rates Points
30 yr Fixed 6.990 0.786
15 yr Fixed Call for a
quote 0.000
7/6-month ARM 2 7.800 0.959
Jumbo 9,10,11 Rates Points
Key 30 yr Fixed 7.750 0.869
Key 15 yr Fixed 7.250 0.899
Key 7/6-month ARM 2 7.125 0.908
Premier 30 yr Fixed 6.975 0.665
Premier 15 yr Fixed 6.575 0.976
Premier 7/6-month ARM 2 6.365 0.807
Wealth 30 yr Fixed 6.600 0.665
Wealth 15 yr Fixed 6.200 0.976
Wealth 7/6-month ARM 2 5.990 0.807

Contact Joshua Weekley, Mortgage Loan Officer in Chattanooga, TN 37421 with Truist Bank. Learn more.

01/07/2025

It is an extremely cold winter this year. Be sure your ready should heat go out. Having a secondary heat source other than electric can save the day.

01/07/2025

Here are some tips on shutting down your home for the winter.

This link will take you to a page that’s not on LinkedIn

08/27/2024

There is a lot of confusion, rumors and foolishness going around about the real estate changes taking place. Commission is their problem as always. Greedy people want everything for nothing. In the long run buyers and sellers as well as real estate agents will suffer due to this foolishness going on. Everyone needs to be paid for the work, services and business development they offer and do for you. We cannot put the offered commission to a buyers agent on the MLS anymore is the main change. Apparently too many Brokerages were allowing not enough transparancy when it comes to their commission pay. Unfortunately, there are a lot of people who want to change the way the real estate in America is bought or sold. Our steadfast, tried and true proven system has been working well for decades. A few bad apple type people are screwing it up. Nevertheless, do not fret, I can help you navigate and understand these changes and the why, how and successful path to take to get the job done right. Call #423-994-8389 for help with your next real estate transaction. We have buyers looking for a variety of types of properties.

08/27/2024

Prices continue to stay steady. Lake property is very coveted. If you want to sell let me know.

02/06/2024

Well, we have made it through the holidays of winter and bliss. Now we focus on happy relationships on Valentine's Day. As we approach the springtime of the year, many turn their thoughts to selling and/or buying real estate. Were here to help you at Lakehomes.com. The market is slowly turning a bit.

After a prolonged downturn spanning nearly two years, East Tennessee’s housing market is expected to rebound in 2024, culminating in modest home price growth and a significant increase in annual home sales. Much of the growth in home sales can be attributed to the expected decline in mortgage rates over the next year and improving affordability conditions, which will facilitate the return of buyers who were previously priced out of the local market. By comparison, a supply-demand imbalance driven by a chronic undersupply of housing will continue to exert upward pressure on home prices. Other long-term market forces, such as favorable demographic trends, migration and changing household composition, will further stimulate market activity. If you or someone you know is selling their property give me a call. 423-994-8389

10/31/2023

Happy almost November, Chattanooga. We’ve rounded up 10 local events that are on our must-attend list, so get ready to start making your plans.

Crabtree Farms 25th Birthday Celebration | Saturday, Nov. 4 | 3-8 p.m. | Crabtree Farms | Free+ | Celebrate the farm with a community potluck meal, a bonfire, and activities. See more of what you can expect.

Head of the H***h | Saturday, Nov. 4-Sunday, Nov. 5 | Times vary | Tennessee River | Free | Watch competitors row a 2.8-mile course along the Tennessee River.

Chattanooga Beard Contest | Sunday, Nov. 5 | 11 a.m.-4 p.m. | First Horizon Pavilion | Free+ | Show off your facial hair for an opportunity to win prizes — the contest begins at 1:30 p.m.

Little Debbie Hamilton County Fair | Friday, Nov. 10-Sunday, Nov. 12 | Times vary | McDonald Farm | $7-$12 | Experience the newly envisioned fair with activities, rides, a rodeo, and live music.

TEDxChattanooga: Awaken | Wednesday, Nov. 15 | 7 p.m. | Barrelhouse Ballroom | $37.50 | Hear what the word “Awaken” means to five local speakers.

Asian Lantern Festival | Kicks off Thursday, Nov. 16 | 5:30-9:30 p.m. | Chattanooga Zoo | $0-$23 | The illuminated lantern displays + interactive displays will be available for visitors to see through Jan. 14. Stay tuned for more information in an upcoming newsletter.

Reindeer on the Riverfront & Lighted Boat Parade | Friday, Nov. 24 | 4-8 p.m. | Ross’s Landing + Chattanooga Green | Free+ | See live reindeer, a lighted boat parade, fireworks, and take photos with Santa.Happy almost November, Chattanooga. We’ve rounded up 10 local events that are on our must-attend list, so get ready to start making your plans.