RedReport - May 2017


The Red Forecast

Same old story on the homes sales forecast. Inventories are holding back sales volumes while causing prices to continue to increase. We feel the prices would be even higher if appraisals weren’t part of the equation and prices were set only based on the supply/demand. There are numerous multiple offers that sell for above list price, but the appraisers are not appraising all the sales at full contract price. This does a couple things: makes sellers list at what they think the appraiser will appraise it for vs the actual supply/demand value or they list high/sell high, but the appraiser comes in low making the buyer come up with more cash or the seller has to make decisions on lowering the price or going to market again hoping for a cash buyer who doesn’t need an appraisal.


Now on to more important news: The Red Realty Charity Challenge is an event we are having to give away $10,000 in celebration of our 10 Year Anniversary. This event has gone crazy on Facebook reaching over 60,000 & 20,000 views in a couple days of posting. Check it out here: What a great community we live in to see the reaction from so many organizations/volunteers to see their organization help even more in need. What a huge honor and blessing to be a part of something so great. We said if this was a success, we’d do it again, so we are already making plans. Who knew giving could be so much fun!


Happy Summer and don’t forget to vote for your favorite charities to get $10,000! Nominations still open until June 10th and voting continues until July 10th. Checks will be given to the winners at our new office August 17th at 4pm- please join us.


Thank You!
Steven Dotson

522 Uptown Square
Murfreesboro, TN 37129
Direct: 615-896-1400
Office: 615-896-2733

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