Wallace Real Estate Blog Posts

Wallace Real Estate's CEO George Wallace recently sat down with Hallerin Hilton Hill on his show Anything is Possible. In a candid and heartfelt conversation, George reflected on his upbringing, career, and dedication to making a difference in Knoxville.

Click here to watch George's full interview

In reference to George's service as a member of Knoxville's City Council: "I wanted to use my platform to make meaningful change," George said, recalling how his time on the council opened his eyes to the city's diversity and challenges.

"Unless we're intentional about building relationships, they won't happen," George explained, emphasizing the importance of connecting with people who have different experiences and perspectives.

Though George considered running for mayor, he chose instead to focus on fostering meaningful relationships and small but impactful actions. "It's the small things that make a difference," he said, underscoring his belief in the power of personal connections to create lasting change.

Through his leadership, George Wallace continues to honor his family's legacy while shaping a brighter, more inclusive future for Knoxville.

We're proud to have his leadership and perspective at Wallace Real Estate!

The holiday season is here, and for some homeowners, it's a time to transform your space into a winter wonderland! As you begin to tackle holiday decorating, don't forget to prioritize safety to make sure your holidays are both festive and accident-free. Whether you're sprucing up the interior or creating a dazzling display outside, these tips from Wallace Real Estate can help guide you.

Decorating the Spaces Inside Your Home:

Check Your Lights: Before hanging up any lights, inspect them for frayed wires, broken bulbs, or any other signs of wear and tear. Replace any that might have seen better days. You may even want to consider upgrading to LED lights, as they emit less heat and are more energy-efficient.

Secure Your Decorations: Avoid accidents by securing decorations such as garland, indoor lights, wreaths, etc. Prevent them from falling and avoid leaving marks on walls and furniture by using non-damaging hooks, clips, or hangers.

Mindful Tree Placement: If you have a Christmas tree, keep it away from heat sources such as fireplaces and radiators. For live trees, keep them well-watered to prevent from drying out and becoming a fire hazard.

Child and Pet-Friendly Decor: If you have small children or pets, you may want to opt for non-breakable ornaments. Or at least place delicate decorations higher on the tree to avoid curious hands or paws.

Adding Some Twinkle to Your Home's Exterior with Outside Decorations:

Outdoor Lights Safety: Choose lights specifically designed for outdoor use and check all electrical connections to make sure they are protected from the elements. Secure lights properly to avoid tripping hazards for any would-be carolers who might drop by.

Mind the Roof: If you're decorating your home's roof or other hard-to-reach places, use a sturdy ladder on level ground. Have someone assist you, and never overreach. Other than trained professionals, Santa's really the only one who should be hopping around on the roof.

Weather-Resistant Decor: Outdoor decorations can really take a beating from the elements, so choose options made of weather-resistant materials to withstand winter conditions. This will keep your decorations looking great throughout the season.

Clear Pathways: Ensure clear pathways for guests by removing any obstacles or decorations that may obstruct walkways. This not only enhances safety but also allows everyone to enjoy your holiday display without any worries.

A Few More General Tips:

Turn Off Decorations at Night: Save energy and reduce the risk of fire by turning off your holiday lights before going to bed. Consider using timers for added convenience.

Read the Instructions: Always follow the manufacturer's instructions when setting up and using holiday decorations. This ensures you're using the products safely and as intended.

Stay Fire Safe: Keep candles away from flammable materials, and never leave them unattended. Consider flameless candles as a safe alternative for a cozy atmosphere.

By following these tips, you can create a festive and safe holiday environment for you, your family, and your guests.

Happy decorating from Wallace Real Estate! May your home be filled with joy, warmth, and the magic of the season.

As the leaves change colors and the air gets crisper, there's no better time to cozy up your space than in the fall. Whether you're preparing for the upcoming holiday season or just want to create a more peaceful living environment, these tips will help you get your home organized and ready for the autumn season.

1. Declutter Before You Decorate

Before you break out the fall decor, take some time to declutter. Go through your closets, drawers, and storage spaces. Donate or toss items you no longer need or use. A clutter-free home creates a better canvas for seasonal decorations.

2. Embrace the Seasonal Swap

As the temperature drops, it's time to swap out your summer wardrobe for cozy fall attire. Store away your swimsuits and sundresses and bring out your sweaters and scarves. This not only saves space but also makes your daily routine more efficient.

3. Create a Cozy Nook

Fall is all about comfort, so create a cozy reading nook or relaxation corner. Add soft throws, plush pillows, and a warm blanket to make it inviting. It's the perfect spot to curl up with a good book on a chilly evening.

4. Kitchen Cleanout

Fall is time for soups and stews, and to create these delicious comfort foods, you'll want to get your kitchen ready for some serious cooking. Organize your pantry, toss expired items, and make a list of essential fall ingredients like spices, canned pumpkin, and hearty soups.

5. Tackle Seasonal Decor Storage

If you love decorating for the fall, organize your seasonal decorations. Use clear storage totes to keep your pumpkins, wreaths, and autumn-themed items neatly organized. Label the containers for easy access next year.

6. Coats and Boots Station

Create a designated area for your fall and winter outerwear. Install hooks for coats and a boot tray to keep wet, muddy boots from tracking dirt throughout your home. It's a small change that can make a big difference in keeping your entryway tidy.

7. Fall Cleaning Checklist

Before you close the door on fall organization, create a cleaning checklist. Focus on tasks like cleaning out gutters, raking leaves, and checking your heating system. A clean and well-maintained home is the best way to enjoy the season without worry.

Remember, organization isn't just about aesthetics; it's about creating a comfortable and stress-free environment where you can fully enjoy the beauty of fall. So, put on your coziest sweater, grab a pumpkin spice latte, and let's get organizing! Happy fall, everyone!

Did you know the global market for baby safety products is currently around $230 billion, and is projected to reach nearly $400 billion in the next ten years? This includes any device or appliance that helps protect babies from potential injuries (including monitors, gates, outlet protectors, etc).

Fun Fact: Baby monitors are among the fastest growing market segments, which could be attributed to the increased adoption of smart home technology and connected devices.

September has been designated as Baby Safety Month, and if you have little ones who live or spend time at your home, it's a great time to refresh on some practical tips.

Kitchen Safety for Babies

To make the kitchen a safer place for babies and toddlers, be sure to add safety locks to all cabinets that contain cleaning products or medicine. Child-safety locks for drawers with sharp knives or scissors are a must as well.

Keep little ones away from hot stoves and other cooking appliances.

Bath Safety for Babies

Bathtime can be a fun, relaxing way to connect with your baby, but there are potential hazards to take precautions with.

Keep the water temperature lower to prevent burns, and choose shampoos and soaps that are created for a baby's sensitive skin.

A smaller tub or tub insert can support little ones until they are able to sit on their own. However, never leave an infant unattended in the bath, even for just a moment.

General Home Safety Tips for Babies

When baby-proofing your space, it's important to look at the room from the baby's perspective. You might not even notice all the things that could potentially grab a little one's attention.

Cover all electrical outlets and secure cords, including those on curtains or blinds. Gates are a great way to keep babies safe around stairs. If you have larger furniture, be sure to anchor them to the wall to prevent tipping.

You might be proud of your green thumb, but many houseplants are toxic for babies and pets. Place these on higher surfaces or avoid them altogether until the child is older.

If you're expecting a new arrival in your family and your current space is feeling a bit snug, we can help! Contact a Wallace Real Estate agent today to start your home search.

Necessity has long been the father of invention and in 1962, one enthusiastic fan of the Tennessee Volunteers recognized a need. George Mooney, a seasoned broadcaster who served for 16 years as the "Voice of the Vols," never missed a fall Saturday at Neyland Stadium.

Traveling to campus each week, Mooney soon grew weary of the gameday traffic along Knoxville's iconic thoroughfare, Kingston Pike. It occurred to him that a much more effective and efficient mode of transportation from his West Knoxville home would be to sail down the Tennessee River, arriving at the stadium with plenty of time for pre-game festivities. Without any docks in those early days, legend has it that Mooney had to improvise by tying his vessel to a tree and climbing through the underbrush to make his way to the stadium.

One man's will to scale some river rock quickly caught on and the Volunteer Navy was born. This rich tradition, now 55 years in the making, is still going strong. The boats may be a bit sleeker, a bit more luxurious than Mooney's little runabout, but the tradition and Volunteer spirit behind it remain the same.

Any given Saturday in the fall (when the Volunteers are playing at home), upwards of around 200 vessels can be found moored at the Vol Navy docks outside Neyland Stadium. Boats are welcomed on gameday in a first come, first served basis. A few boaters even arrive as early as Tuesday or Wednesday before the game to secure the coveted spots by the dock.

Larger vessels are moored right up to the docks, with smaller boats given the opportunity to tie off in a row. The Vol Navy is assisted by the Tennessee Wildlife Resource Agency to make sure that all boats are anchored safely.

The Vol Navy is informally overseen by the Vol Navy Boaters Association, which was founded in 2002 and has its own website complete with Vol Navy protocol, though the requirements are easily achievable.

"Being social is the only requirement for membership," says Vol Navy Boaters Association co-founder and University of Tennessee grad Kevin Jeske-Polyak.

Vessels of all sizes can be spotted at the Vol Navy floating tailgate, including luxurious yachts, large cruisers, fully equipped houseboats, and sleek sail boats. Owning a boat is not even necessary. According to Jeske-Polyak, many members of the Vol Navy are regular crew members and guests of boat owners.

The Volunteer Navy has its own recognizable flag which can be seen flying from many of the vessels on Saturdays. This specially designed flag has been spotted on boats all over the world, and notably graces the walls of the Pentagon, after one was gifted to Vice Admiral Harry Harris of the United States Navy.

"The atmosphere on gameday is amazing," says UT grad and Vol Navy member Jennifer McKinnish Burton. "Everyone is super friendly and you can go from boat to boat and just get to know people."

She also mentioned that it's not uncommon to have curious fans from the opposing team stop by to learn what the Vol Navy is all about. Vol Navy boaters come from far and wide, some traveling upriver from as far away as Alabama. Others tow their boats from various nearby regions and put in on the Tennessee River for gameday. And of course, there are plenty of Vol Navy members who travel the short distance from their residences across the waters of Watts Bar, Fort Loudoun and Tellico Lakes.

It's not uncommon to see small amphibious aircraft land in the water and power over to join the Vol Navy as well.

Imagine stepping out the door of your beautiful waterfront home, and strolling down to your dock.

After boarding your vessel, perhaps an ultra-luxurious Searay L650 Fly, you slice through the water in style on your way to cheer the Vols on to victory.

This fantasy of enjoying your next tailgate with the Vol Navy might be closer to reality than you realize. Wallace Real Estate agents regularly work with sellers of incredible luxury properties that afford waterfront living and the opportunity to sail your vessel from home to the stadium on gamedays.

But the beauty and majesty of East Tennessee's waterways aren't limited to being enjoyed only during football season. The Tennessee River, as well as numerous other bodies of water in our region, create the backdrop for enjoying the wonder of nature all through the year. One recent study found that living near a body of water can improve health and wellbeing, even for those who reside in cities.

With miles of shoreline and numerous waterfront communities, East Tennessee is a wonderful place for water and outdoor enthusiasts to call home.

Coffee shops are more than just a morning pick-me-up. They are places where neighbors gather, ideas are shared, and communities thrive. In honor of International Coffee Day (Oct. 1st), here are a few local spots worth checking out:

• K Brew (Downtown Knoxville) – Famous for their bagels and creative lattes.

• Honeybee Coffee (South Knox & Farragut) – Cozy neighborhood vibe with a loyal following.

• The Empty Cup (Farragut) – Coffee with a cause, supporting adoption and foster care.

• Vienna Coffee House (Maryville) – A longtime local favorite with a roasting operation on site.

• Bud's Farmhouse Coffee (Oak Ridge) – Casual spot for coffee, tea & pastries

• Black Rifle Coffee Company (Sevierville/Pigeon Forge) – Veteran-owned cafe known for its lattes, frappes and ciders.

• Seed Coffee Co. (Sutherland Ave, Knoxville) – Bright, airy space in a renovated church, focused on ethical sourcing and community impact.

• Five & Hoek Coffee Co. (Downtown Knoxville) – Minimalist, modern, and known for ethically sourced, in-house roasted beans.

• Grinder House Coffee Shop (Crossville) – A local gathering spot that also hosts live music and community events.

• Coffee Culture (Lenoir City) – Specialty drinks plus breakfast sandwiches and pastries in a welcoming setting.

All across our region, East Tennessee has no shortage of places to grab a great cup of coffee. And just like finding the right coffee shop, finding the right home is about discovering the perfect fit for your lifestyle and community — something Wallace agents are here to help with.

Building Sweet Memories: Gingerbread Houses and Dream Homes

'Tis the season for holiday magic, and nothing says "home for the holidays" quite like the sweet aroma of gingerbread baking in the oven. As we gather with loved ones to build and decorate our favorite gingerbread creations, we're reminded of the joy and warmth of home—whether it's a festive cookie house or your dream real estate property.

At Wallace Real Estate, we believe every home should feel as magical as a gingerbread house during the holidays. Let's explore how building gingerbread houses mirrors the journey to finding or creating your perfect home—and some helpful tips to ensure your creations (both edible and real) are built to last.

The Perfect Foundation

Every great home starts with a solid foundation. Whether you're assembling gingerbread walls or preparing to purchase your dream property, the base must be sturdy. Use a strong surface like a wooden board or foil-covered cardboard for your gingerbread masterpiece. Similarly, Wallace Real Estate helps you lay a solid foundation for your future, ensuring your home-buying journey is as sweet as sugar-coated gumdrops.

Customizing Your Dream House

Decorating a gingerbread house is all about expressing your creativity—candy shingles, gumdrop fences, or icing-swirled windows make it uniquely yours. The same goes for your real home! Wallace agents are like skilled holiday craftspeople, guiding you to a home that fits your vision. We're here to help you find a property with the charm and character that suits your needs.

Pro Tip: For gingerbread houses, decorate each panel while flat before assembly. It's much easier to add intricate designs without worrying about smudging—or your walls caving in!

Holiday Cheer in Every Corner

The holidays are all about creating memories, and having the perfect space to celebrate makes the season extra special. Every icing swirl on a gingerbread house adds personality, just like every decision in your real estate journey adds warmth and joy to your home.

Pro Tip: Use royal icing as your "glue" when assembling your gingerbread house. It dries solidly and provides the stability you need to keep everything in place—just like Wallace Real Estate helps ensure a smooth and secure home-buying process.

Building Sweet Memories Together

Whether you're constructing a whimsical gingerbread village or searching for your next home sweet home, the joy is in the journey. This holiday season, let Wallace Real Estate help you create a space where you can make lasting memories with loved ones.

Happy Holidays from all of us at Wallace Real Estate—and happy building!

Hey there, pizza aficionados! February 9th marks a day beloved by many across the nation - National Pizza Day! And what better way to celebrate than by indulging in some cheesy, saucy goodness? If you find yourself in East Tennessee, you're in luck because this region boasts some of the most delectable pizza joints around. So, grab a slice and let's embark on a pizza adventure together!

Big Ed's Pizza: Oak Ridge, TN

First up on our pizza pilgrimage is Big Ed's Pizza in Oak Ridge. Known for their generous toppings and crispy crust, Big Ed's has been serving up mouthwatering pies and classic pizzeria nostalgia since 1970. Whether you're a fan of classic pepperoni or adventurous with toppings like barbecue chicken, Big Ed's has something for everyone. Don't forget to snap a selfie with their iconic pizza paddle decor while you're there!

Southcoast Pizza: South Knoxville, aka SoKno

Next stop, Southcoast Pizza on Sevier Avenue in bustling South Knoxville! This cozy pizzeria combines traditional Italian flavors with a Southern twist, resulting in pies that will make your taste buds sing. From their signature BBQ pulled pork pizza to their famous buffalo chicken pie, Southcoast Pizza offers a unique culinary experience that keeps customers coming back for more. Plus, their laid-back atmosphere makes it the perfect spot to unwind with friends and family. Hitting up HighWire Brewery? Southcoast will deliver pies from just down the street!

Adopo: Downtown Knoxville / Old City adjacent

If you're craving an elevated pizza experience that includes Neapolitan-style pizza, look no further than Adopo in Knoxville. With their wood-fired oven imported from Italy, Adopo creates pizzas that are as authentic as they come. Using only the freshest ingredients and traditional techniques, their pies are bursting with flavor and cooked to perfection. Be sure to try their Margherita pizza for a taste of Italy right here in East Tennessee. Want to order takeout? Adopo is a local favorite, so be sure to place your order early in the day to ensure you get your pie(s) at the preferred time.

Mellow Mushroom: Groovy Pies in Farragut and on the Cumberland Strip

No pizza tour of East Tennessee would be complete without a stop at Mellow Mushroom. With locations in Farragut and on UT campus, Mellow Mushroom is famous for its funky decor, laid-back vibe, and, of course, its out-of-this-world pizzas. Upon entering Mellow Mushroom, you'll feel like you've been transported to a psychedelic paradise, complete with vibrant colors, trippy artwork, and a relaxed atmosphere. It's the perfect place to kick back with friends, sip on a cold craft beer, and chow down on some seriously good pizza.

Pizza Palace: Magnolia Ave / Nostalgia in Knoxville

Last but certainly not least, we have Pizza Palace, a beloved institution that has been serving up nostalgia in Knoxville since 1961. Step back in time as you enter this retro-themed pizzeria, complete with checkerboard floors and vintage decor. But it's not just the ambiance that keeps customers coming back - Pizza Palace's thin-crust pizzas are a slice of pure heaven, reminiscent of childhood memories and simpler times.

So, whether you prefer thin crust or deep dish, pepperoni or pineapple, National Pizza Day is the perfect excuse to indulge in your favorite slices. And with these top-notch pizza spots in East Tennessee, you're guaranteed to have a deliciously good time. Happy National Pizza Day, fellow pizza lovers!

Wallace Real Estate's own Andrew McGranaghan was invited to be a special guest on a recent episode of local radio program Around the House with Scott Brockamp! June is National Home Ownership Month, and Andrew shared some great insight about what's happening in the East Tennessee real estate market, as well as tips for homeowners who may be looking to make a move.

Listen to the full interview below (begins at about the 50:25 mark).

June is National Homeownership Month, a time to celebrate the many benefits of owning a home and recognize its importance in building strong communities. Whether you're a first-time buyer or a seasoned homeowner, owning a home offers numerous advantages that contribute to personal and financial well-being.

Here are some key facts and benefits to consider:

1. Building Equity: One of the most significant advantages of homeownership is building equity over time. Equity is the difference between the market value of your home and the amount you owe on your mortgage. As you pay down your mortgage and your home's value appreciates, you build wealth that can provide financial security and future opportunities.

2. Stable Housing Costs: Unlike renting, where monthly payments can fluctuate with market trends, homeownership provides stability in housing costs. With a fixed-rate mortgage, your principal and interest payments remain consistent over the life of the loan, offering predictability for planning and budgeting.

3. Tax Benefits: Homeownership can offer tax advantages, including deductions for mortgage interest, property taxes, and certain home-related expenses. These deductions may be able to lower your taxable income and reduce your overall tax burden, providing additional financial benefits.

4. Freedom and Personalization: Owning a home gives you the freedom to personalize and customize your living space to suit your preferences and lifestyle. From renovations and landscaping to decorating choices, homeownership allows you to create a space that truly feels like your own.

5. Community Stability: Homeowners often have a stronger sense of community and are more invested in their neighborhoods. Stable communities can contribute to support for local schools, improved public amenities, and higher property values, creating a positive environment for families and residents.

6. Long-Term Financial Security: Over time, homeownership can serve as a cornerstone of long-term financial security and retirement planning. As property values typically appreciate over the years, homeowners may leverage their equity for future investments or retirement income.

7. Sense of Achievement: Purchasing a home is a milestone achievement for many individuals and families. It represents stability, accomplishment, and the fulfillment of a lifelong dream for many.

As we celebrate National Homeownership Month, let's recognize the significance of owning a home and the positive impact it has on individuals, families, and communities. Whether you're considering buying your first home or already enjoy the benefits of homeownership, take pride in the role you play in creating a stronger, more vibrant community. If you're ready to explore the path to homeownership or have questions about the real estate market, reach out to us. We're here to help you achieve your homeownership goals and make your dreams a reality.

If you're exploring a new chapter in your homeownership journey, condo living can offer a unique blend of convenience, community, and comfort that appeals to many different lifestyles.

One of the main advantages of living in a condo is reduced maintenance. Unlike traditional single-family homes, most condos take the burden of exterior upkeep off your plate. Landscaping, roof repairs, and general maintenance are often handled by the homeowners association. That means the option of no yardwork and fewer weekend chores, potentially giving you more time to enjoy life.

But not all condos are created equally. Some are part of larger buildings with multiple units, similar to what you might picture when you think of an apartment. Others are more like townhouses, with multi-level living and only one shared wall. There are even detached condos that feel like single-family homes but still offer the benefits of shared community services. The variety of styles means you can find a condo that matches your needs and lifestyle.

Another reason many people are drawn to condo living is location. Condos are often located in the heart of things—close to downtown areas, restaurants, shops, parks, and cultural attractions. Whether you're looking for a more connected lifestyle or a stronger sense of community, condos often make it easier to stay engaged.

Condo living is a smart choice for a range of buyers. It can be a great option for those looking to downsize and simplify, or for first-time buyers ready to make the leap from renting to owning. With a wide range of sizes, amenities, and price points, there's likely a condo that fits your vision of home.

Interested in seeing what's available?

Browse Condos for Sale in East Tennessee

Life changes, and so do our housing needs. Maybe your current home feels too large, requires more upkeep than you'd like, or no longer fits your lifestyle. Or perhaps you love your home, but you're wondering if a different option would make life easier or more enjoyable.

If you've been thinking about whether to stay in your home or make a move, you're not alone. Many homeowners reach a point where they ask themselves: Should I downsize and find a home that better suits my current needs, or stay right where I am?

There's no one-size-fits-all answer, but here are some key factors to consider as you explore your options.

The Case for Downsizing

If maintaining a large home has become more of a chore than a joy, downsizing might be the right move. A smaller home means fewer rooms to clean, potentially less yard work, and lower utility bills. You might also be able to enjoy reduced expenses such as property taxes, insurance and maintenance costs.

Selling a larger home and moving to a more manageable property could free up equity, allowing you to travel, invest, or simply enjoy a more relaxed lifestyle. If you travel frequently or spend time with family in different locations, a smaller home may make more sense.

Things to Consider Before Downsizing:

• Will your new space accommodate your needs and lifestyle?
• Do you have a plan for sorting, selling, or donating items before the move?
• What type of home or community best suits your future plans?

The Case for Right-sizing

Right-sizing isn't just about going smaller--it's about finding a home that better aligns with your current and future needs. This could mean moving to a home with a more convenient layout, modern features and comforts or a location that better fits your lifestyle.

Questions to Ask Yourself About Right-sizing:

• What home features are most important to me now and in the future?
• Would moving bring me closer to family, medical care, or social opportunities?
• How will my housing needs change in the next 5, 10, or 15 years?

How to Decide What's Best for You

Choosing whether to downsize, right-size, or even stay put is a personal decision based on financial, practical, and emotional factors.

No matter which path you choose, having the right real estate guidance is key. At Wallace Real Estate, we help homeowners explore their options, understand the market, and make informed decisions about their next steps. Whether you're considering selling, buying, or just want to discuss your options, we're here to help.

Thinking about a move? Start exploring available properties today or contact a Wallace Real Estate agent to explore your options.

Wondering what's happening in the East Tennessee real estate market? Check out our market snapshot, and if you have questions, reach out to your Wallace Real Estate agent for more info!

Even though we're in a low inventory environment, we had more new listings entering the market this year than we did last year. October typically marks the month before the steeper seasonal decline of new listings through the end of the year. Looking at history, we may not reach this number of new listings in the market until March, which is the start of the spring sales season.

That means that buyers could have fewer fresh choices, even though demand continues, which could either keep prices stable if buyers decide to wait for properties to come on the market, or prices may increase if buyers decide to proceed with purchasing existing inventory through the winter.

When it comes to active listings, we've seen steady increases since April. We haven't seen the same bell-curve shape as more "normal" years strictly due to the fact that fewer homes are being sold thanks to high interest rates and prices. Still, sales haven't fallen to recession levels and are still happening. We seem to be on the track to land with about as many active listings as we had at the end of 2019, before Covid changed the market dynamics.

Our sales pending was almost identical to September and October of 2018, arguably a time when we considered the market to be normal and healthy. This proves that even though homes cost more to purchase, buyers are still buying.

Closed units is the lowest number we've seen in a six-year run, down a bit from last year. I attribute this 100% to current prices and interest rates. It has slowed buyer activity for sure. But, what are the long-term effects of this slowed activity? Once interest rates stabilize, will we have a bottleneck of buyers competing for listings again? Time will tell.

We have about 4 months of supply, which means that if no more new listings came on the market but we continued to sell at the current pace, we'd be out of things to sell in 4 months. This number may increase through the winter, with a high point in January if the trend continues.

Median Sales Prices actually went back up from $340,000 to $350,000 month over month. But what I see here is a very stable line. So, while sellers could reasonably expect to make the same amount that they would have if they sold six months ago, they can't necessarily push their asking price up as quickly as might have been acceptable in 2021. Wondering what your home is worth? Click here to get a free valuation!

This October marks the second fastest October, with sales happening at a faster pace than we did in any previous October with the exception of 2021 when things were moving at a blistering pace. This is another statistic that shows up in favor of continued buyer demand and market health.

*Data reprinted with permission from East Tennessee REALTORS®

Life is busy, and it's easy to get caught up in our own daily routines and responsibilities. However, we all play important roles in our East Tennessee community, and one way to make sure that our region thrives is by giving back. With Random Acts of Kindness Day around the corner (Feb. 17th), it's the perfect opportunity to reflect on how all of us has the ability to make a difference, one small gesture at a time.

Here are some examples of how you can practice random acts of kindness, whether it's volunteering with local charities, donating to those in need, or simply lending a helping hand to a neighbor:

1. Volunteer with a Local Charity - One area nonprofit that is near and dear to our hearts at Wallace is Habitat for Humanity. This renowned organization builds homes for those in need. By volunteering your time and skills, whether it's hammering nails, painting walls, or serving refreshments to fellow volunteers, you contribute to creating a safe and stable environment for families to thrive. The impact of your efforts goes beyond the physical structure of a house; it provides hope and a brighter future for those who may have faced adversity.

2. Donate items from Charity Wish-lists - Organizations like the YWCA or Knoxville's Love Kitchen provide essential support to individuals and families experiencing homelessness or domestic violence. Consider gathering gently used clothing, blankets, toiletries, or non-perishable food items to donate to these shelters. Your contributions can make a world of difference in providing comfort and necessities to those in challenging situations. If you're an animal lover, there are also several area organizations that rescue and care for animals looking for forever homes. Young-Williams, the Humane Society of the Tennessee Valley and various rescue groups are always grateful for donations of items on their wish-lists as well.

3. Help a neighbor in need - Sometimes, acts of kindness are as simple as lending a helping hand to someone in your community. Whether it's offering to mow their lawn, shovel snow from their driveway, or run errands for them, these small gestures can have a significant impact on someone's day. Additionally, taking the time to check in on neighbors who might live alone or have various limitations to see if they need assistance or just a friendly chat can make them feel supported and cared for.

4. Pay it forward - The concept of paying it forward involves performing acts of kindness without expecting anything in return, with the hope that the recipient will do the same for others. Whether it's buying a coffee for the person in line behind you, leaving a kind note for a stranger to find, or simply smiling at someone you pass on the street, these small acts create a ripple effect of positivity that spreads throughout the community.

5. Spread kindness online - In today's digital age, kindness extends beyond face-to-face interactions. Take the time to spread positivity on social media by leaving encouraging comments, sharing uplifting stories, or promoting charitable causes. By using your online platform to spread kindness, you contribute to creating a more compassionate and supportive online community.

On Random Acts of Kindness Day, and every day, let's embrace the opportunity to make East Tennessee (and the world) a brighter place through simple acts of kindness. Whether it's volunteering with organizations like Habitat for Humanity, donating to shelters, helping neighbors, paying it forward, or spreading kindness online, each gesture, no matter how small, has the power to make a difference in someone's life. Together, let's create a culture of kindness and compassion that uplifts and inspires us all.

Houseplant Appreciation Day is January 10th, and this is a great opportunity to celebrate our leafy companions and give them the love they deserve. Whether you're a seasoned plant parent or a newbie looking to begin your indoor garden, this blog post is your go-to guide for choosing the perfect houseplants and keeping them thriving.

Tips for Choosing the Right Houseplants:

1. Consider Your Space: Before you dive into the world of houseplants, take a look around your home. Different plants have different light and space requirements. If you have a sunny spot, go for sun-loving succulents or a vibrant snake plant. For shadier corners, consider resilient low-light options like pothos or ZZ plants.

2. Determine Your Commitment Level: Are you gone much of the time, or someone who tends to forget watering schedules? Be honest with yourself! Choose plants that align with your lifestyle. Cacti and succulents are excellent choices for low-maintenance care, while ferns and tropical plants might need a bit more attention.

3. Babies & Pets: Some plants are poisonous if ingested, so make sure to be aware of this if you have babies, small children or pets who might be tempted by their shiny green leaves. It's smart to keep plants at a higher level and out of their reach to avoid any issues.

4. Research and Learn: Each plant has its own personality and preferences. Take some time to research the specific needs of the plants you're interested in. From watering frequency to soil type, knowing your plant inside out will ensure a happy and healthy relationship.

Caring for Your Leafy Companions:

1. The Goldilocks Rule – Just Right: Watering is a critical aspect of plant care. Striking the right balance is key; too much water can lead to root rot, while too little can leave your plant thirsty. Stick your finger into the soil – if it's dry an inch down, it's time to water.

2. Let There Be Light: Different plants have different light requirements. Ensure your green pals get the right amount of sunlight. Rotate your plants occasionally to make sure each side gets its fair share, promoting even growth.

3. Feed Me, Seymour!: Like all living things, plants need nutrients. Use a balanced fertilizer during the growing season (spring and summer) to keep your plants nourished. Follow the recommended dosage on the fertilizer packaging to avoid overfeeding.

4. Keep an Eye Out for Pests: Pests can sometimes be unwelcome visitors. Regularly inspect your plants for signs of bugs, and if you spot any, treat them promptly with insecticidal soap or neem oil.

Houseplant Appreciation Day is the perfect time to show some extra love to your indoor garden. Whether you're a seasoned plant parent or just starting your leafy journey, these tips will help you choose the right houseplants and keep them flourishing.

So go ahead, embrace the green, and let your houseplants thrive – they'll reward you with beauty, clean air, and a sense of calm! We have some great plant shops and nurseries around East Tennessee to explore. Oglewood Avenue is a good option for a more hands-on approach to help customers embrace plant life, and there's also Jack's (locations on Central Ave. & Gay Street). Or there are some excellent nurseries in our area, including Stanley's Greenhouse, Mayo Garden Center, and Pope's. Happy planting! #HouseplantLove #GreenThumb

Find Your Perfect Match This Valentine's Day: Take Our "Matchmaking House Quiz!"

Love is in the air this Valentine's Day, and what better way to celebrate than by finding your perfect match? But this year, we're not talking about finding a soulmate – we're talking about finding your dream home!

At Wallace Real Estate, we believe that your home should be a place where you feel happy, comfortable, and truly yourself. That's why we've created a fun and interactive social media quiz to help you discover which type of home is your perfect match.

How Does It Work?

Our "Matchmaking House Quiz" consists of 10 questions designed to uncover your preferences, lifestyle, and dreams for your future home. From your ideal morning view to your favorite outdoor activity, each question will guide you closer to finding the home that's just right for you.

Life can move fast, but National Relaxation Day (Friday, August 15) is the perfect excuse to slow down, take a deep breath, and soak in the simple pleasures. Luckily, East Tennessee is full of ways to unwind—whether you're escaping to nature, indulging in a spa day, or enjoying the comfort of your own home.

1. Get Away to Nature
Our region has no shortage of natural stress relievers. From the breathtaking trails of the Great Smoky Mountains National Park to the peaceful waters of Norris, Cherokee, and Douglas Lakes, there are plenty of scenic spots to recharge. If you're looking for something close to town, Ijams Nature Center offers hiking, paddling, and even quiet gardens for reflection—perfect for a mini escape!

2. Treat Yourself to a Spa Day
Nothing says "relax" like a day of pampering. Local favorites such as The Spa at Blackberry Mountain, Belleza Salon & Spa, and A Better You Wellness offer massages, facials, and other rejuvenating treatments to help melt away the tension. Whether it's an hour-long escape or a full day of indulgence, your body and mind will thank you.

3. Relax at Home—The Easy Way
Home is where you should feel the most at ease. That might mean letting someone else handle the to-do list so you can kick back with your favorite book or movie. Hire a personal chef for a special dinner at home, schedule a landscaping service to keep your yard picture-perfect, or bring in a cleaning crew so you can enjoy a truly chore-free day.

Life has its share of stresses, but buying or selling a home shouldn't be one of them. The market is always changing, but with Wallace Real Estate—trusted since 1936—you have a knowledgeable, experienced partner by your side. We'll handle the details so you can focus on what matters most!

The iconic property at 5613 Kingston Pike, formerly home to Cas Walker's Grocery Store, has been sold and is undergoing redevelopment into a luxury salon suite facility.

Charlie and Suzanne Saah, represented by John Lyle, Senior Advisor with Wallace Commercial, purchased the property from Peoples Development Company Inc., which was represented by Tony Cappiello of Cappiello Real Estate.

The Saahs, longtime Knoxville entrepreneurs, are expanding their portfolio with the launch of Saah Salon Suites in Bearden. The new development builds on the success of their existing salon suite locations on Campbell Station Road and George Williams Road. Suzanne is a licensed cosmetologist with years of experience in local salons, and Charlie is the owner of C & S Refinishing & Upholstery, a third-generation family business started in 1972 that has grown into one of Knoxville's most recognized furniture restoration and upholstery shops.

The couple also owns and operates the popular Julianna Wedding and Event Venue, reflecting their ability to create businesses that meet modern consumer needs. Together, they bring decades of experience in craftsmanship, business development, and community investment, and have built a reputation for supporting small businesses and creating spaces where independent professionals can thrive.

The development will bring a significant number of individually operated luxury salon suites designed for stylists, estheticians, and other beauty professionals to run their own businesses with minimal startup costs. The project is expected to create opportunities for local professionals, support small businesses, and contribute to economic growth in the Bearden community. Applications are now available to reserve suites, with special introductory rates.

Construction is expected to begin in December 2025 following demolition of the existing building. Gerald Cress, President of Cress Company Inc., has been named the General Contractor for the project.

About Wallace Commercial: Wallace Commercial is the commercial real estate division of Wallace Real Estate, serving East Tennessee since 1936. With expertise in sales, leasing, property management, and development consulting, Wallace Commercial delivers trusted guidance and local market insight to help clients achieve their business goals while strengthening the regional economy.

About Saah Salon Suites: Saah Salon Suites is Knoxville's premier salon provider, offering luxury studio spaces with high-quality amenities and contemporary design. Saah Salon Suites helps beauty professionals launch their own businesses with minimal overhead, maximum flexibility and personalized support.

January is Bath Safety Month, and as we kick off the new year, it's the perfect time to turn our attention to a space that often doesn't get the safety spotlight it deserves – the bathroom. Whether you're a bubbly bath enthusiast or a quick shower kind of person, ensuring your bathroom is a safe haven is essential. So, let's dive into some friendly tips to make your bathroom a secure and serene space for everyone in your home.

1. Non-Slip Magic: The bathroom floor can be slippery, especially with soap and water in the mix. Combat the slip-and-slide scenario by placing non-slip mats or adhesive strips in strategic areas, such as in front of the shower and around the sink. These small additions can make a big difference in preventing accidental falls.

2. Something to Hang Onto: Installing grab bars can be a game-changer, providing extra support for getting in and out of the tub or shower. Stylish and functional, these bars come in various designs to match your bathroom decor while offering an added layer of safety.

3. Proper Lighting: Good lighting is key to preventing accidents in the bathroom. Make sure your bathroom is well-lit, especially in areas like the shower, where shadows can make it challenging to see clearly. Consider adding night lights for those midnight trips to the bathroom, creating a cozy and safe ambiance.

4. Temperature Check: Scalding water is not a pleasant surprise, especially during a relaxing shower. Set your water heater to a safe temperature (around 120 degrees Fahrenheit or 49 degrees Celsius) to avoid burns. Additionally, test the water temperature before stepping in to ensure a comfortable and safe bathing experience.

5. Organize Wisely: Decluttering your bathroom not only creates a more visually appealing space but also reduces the risk of tripping. Keep countertops clear, store toiletries in easy-to-reach places, and invest in storage solutions to maintain a tidy and safe environment.

6. Toilet Safety: Toilet-related accidents are more common than you might think. Install a raised toilet seat if needed and consider placing a non-slip mat around the toilet area. Additionally, keep a night light nearby for those late-night visits to avoid stumbling in the dark.

Bath Safety Month is the perfect opportunity to transform your bathroom into a secure sanctuary. By implementing these simple tips, you can create a safer space for yourself and your loved ones. So, let's make a resolution to prioritize bathroom safety this year – because everyone deserves a relaxing and accident-free bathing experience. Happy Bath Safety Month!

As the Summer Olympics kick off this week, the world turns its attention to the incredible athletes who have dedicated years of their lives to achieving excellence in their respective sports. While watching these elite competitors strive for gold, it's easy to draw parallels to another type of coach: your real estate agent.

Just like Olympic coaches, real estate agents play a crucial role in guiding their clients through the complex, often competitive journey of buying or selling a home.

Here's how your real estate agent embodies the spirit and skills of an Olympic coach.

Expertise and Training

Olympic coaches are experts in their field, often having been athletes themselves or having dedicated their careers to understanding the intricacies of their sport. They continuously update their knowledge to ensure their athletes are at the top of their game. Similarly, a top-notch real estate agent has in-depth knowledge of the market, legal requirements, and negotiation strategies. Wallace agents undergo continuous training and certifications to stay current with industry changes, ensuring they can provide the best possible advice and service to their clients.

Personalized Strategy

No two athletes are the same. Coaches develop personalized training programs tailored to each athlete's strengths, weaknesses, and goals. They adjust techniques and strategies based on performance and progress. Your real estate agent takes the time to understand your unique needs and goals. Whether you're buying your first home, upsizing for a growing family, or downsizing for retirement, your agent will develop a customized strategy to help you achieve your real estate dreams. They adapt their approach based on market conditions and your feedback.

Motivation and Support

Coaches are not just strategists; they are motivators and supporters. They inspire their athletes to push through challenges, stay focused, and maintain a positive mindset. The journey of buying or selling a home can be stressful. Your Wallace agent is there to provide encouragement, answer your questions, and keep you motivated. They handle the complexities of the process, allowing you to focus on your goals and stay positive.

Navigating Challenges

Athletes face numerous obstacles on their path to the Olympics, from injuries to tough competition. Coaches help them navigate these challenges, providing solutions and adjustments to keep them on track. The real estate market can be unpredictable, with challenges such as multiple offers, financing hurdles, and inspection issues. Your Wallace agent is skilled to anticipate potential issues and has proven strategies in place to overcome them, ensuring a smoother process for their clients.

Achieving Success

The ultimate goal for any Olympic coach is to see their athlete stand on the podium, achieving their dreams of winning a medal. The journey is filled with hard work, dedication, and shared victories. Your real estate agent's success is measured by your satisfaction.

Whether it's securing your dream home at the right price or selling your property for the best possible value, they are committed to helping you achieve your real estate goals and celebrate your well-earned victory.

As we cheer on our favorite athletes in the Summer Olympics, let's also take a moment to appreciate the dedication and expertise of Wallace Real Estate professionals. Like Olympic coaches, they are committed to guiding their clients to success, providing personalized strategies, unwavering support, and expert navigation through the complexities of the real estate market. So, as you watch the games and marvel at the achievements of the athletes, remember that your real estate agent is working just as hard to help you achieve your own real estate gold.

At Wallace Real Estate, we pride ourselves on providing the gold medal standard in real estate services. Contact us today to start your journey to success with a dedicated and experienced real estate agent by your side.

As the temperature rises and the days grow longer, summer brings its own set of challenges for homeowners. From keeping the lawn lush to ensuring your HVAC system runs efficiently, there's much to consider when it comes to maintaining your home during the warmer months.

Lawn Care:

- Regular mowing: During the summer, grass tends to grow faster due to increased sunlight and warmth. Set a regular mowing schedule to keep your lawn looking neat and healthy.
- Watering: Proper watering is crucial for maintaining a lush lawn during the summer months. Water deeply and infrequently to encourage deep root growth, and aim to water in the early morning or late evening to minimize evaporation.
- Fertilizing: Consider applying a slow-release fertilizer to provide essential nutrients to your lawn throughout the summer. Be sure to follow the manufacturer's instructions for application rates and timing.

HVAC Maintenance:

- Change air filters: Dirty air filters can restrict airflow and reduce the efficiency of your HVAC system. Check and replace air filters regularly, ideally every 1-3 months, to ensure optimal performance.
- Clean outdoor unit: Remove any debris, such as leaves or grass clippings, from the outdoor unit of your air conditioning system. This will help improve airflow and prevent potential damage to the unit.
- Schedule professional maintenance: Consider scheduling a professional HVAC inspection and tune-up before the peak of summer. A qualified technician can identify any issues and ensure that your system is running smoothly when you need it most.

Preparing for Summer Storms:

- Inspect roof and gutters: Check for loose or damaged shingles, as well as clogged gutters and downspouts. Proper drainage is essential for preventing water damage to your home during summer storms.
- Trim trees and shrubs: Prune overhanging branches and trim back shrubs to prevent them from becoming hazards during high winds. This will also help reduce the risk of branches damaging your home or property during storms.
- Secure outdoor furniture and equipment: Store or secure outdoor furniture, grills, and other equipment to prevent them from being damaged or becoming projectiles during severe weather.

By staying proactive with summer home maintenance, you can take steps to keep your property in top shape throughout the season. From caring for your lawn to maintaining your HVAC system and preparing for summer storms, these tips will help you protect your investment and enjoy a comfortable and worry-free summer at home. Remember, if you ever need a recommendation for service providers for home maintenance or repairs, don't hesitate to reach out to your trusted Wallace Real Estate agent.

Knoxville, Tennessee, Aug. 6, 2024 - Wallace Real Estate has been awarded a 2024 Top Workplaces Winner in the Midsize category.

This list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential survey uniquely measures the employee experience and its component themes, including employees feeling Respected & Supported, Enabled to Grow, and Empowered to Execute, to name a few.

"Wallace Real Estate is thrilled to receive this honor," said Chief Development Officer Andrew McGranaghan. "What truly sets our brokerage apart is our commitment to providing unparalleled support to our agents.

With nearly 40 staff members dedicated to learning, marketing, accounting, guidance and growth, Wallace offers more support per agent than our largest competitors. This means Wallace Real Estate agents can deliver exceptional service to their clients with the confidence that they have a strong team backing them up.

"Wallace Real Estate has earned the trust of generations of homebuyers and sellers since 1936," said Chief Operating Officer Claudia Stallings. "No other brokerage in our market can say that, and we are so grateful to our amazing team for making this possible. We're proud to be a part of the East Tennessee community and to continue our tradition of excellence."

"Earning a Top Workplaces award is a badge of honor for companies, especially because it comes authentically from their employees," said Eric Rubino, Energage CEO. "That's something to be proud of. In today's market, leaders must ensure they're allowing employees to have a voice and be heard. That's paramount. Top Workplaces do this, and it pays dividends."

ABOUT

Wallace Real Estate was founded in 1936 with one office on Gay Street in Downtown Knoxville. It has grown to be an industry leader with six area offices and more than 420 sales associates. In the brokerage's nearly 90-year history, three generations of the Wallace family have provided buyers and sellers in the region — including Knox, Anderson, Blount, Loudon, Roane and Sevier counties — with a real estate experience that remains unmatched.

The number one independent firm in East Tennessee, Wallace offers a one-stop shop for residential and commercial real estate services.

COMPANY CONTACT

Wallace Real Estate

cstallings@wallacetn.com

8655844000

https://wallacetn.com

KNOXVILLE, Tenn. — Three Knoxville real estate companies, including Wallace, Keller Williams and Realty Executives Associates, have partnered to release a new public service announcement (PSA) explaining recent changes to national home-showing requirements. The update, which applies to all licensed real estate agents in the United States, now requires homebuyers to sign a written agreement before touring any property.

Leaders from each company—including Wallace Chief Executive Officer Andrew McGranaghan—participated in the collaborative effort after recognizing widespread confusion among buyers and inconsistent information circulating online. The PSA explains that the required agreements can be brief, one-time showing documents used for individual appointments. Their purpose is to outline expectations, provide clarity, and ensure buyers understand the purpose and scope of each showing. These agreements do not automatically create a financial obligation for the buyer.

"Buyers deserve accurate information and transparency, starting with the very beginning of their home search," said McGranaghan. "A clear explanation helps people understand what they are signing and why it is required."

McGranaghan went on to explain that this is not an agent or company-level policy. It is a national standard. This allows every buyer to receive the same clear process, which reduces confusion and builds trust in the transaction.

These agreements are simple and can be for a short period of time. They help buyers know exactly what service they can expect, and the cost of that service. This change strengthens transparency at a time when buyers are asking more questions than ever.

The companies emphasize that showing a home without a written agreement is not compliant with national standards. Their collaboration reflects a shared commitment to transparency, professionalism and consumer education in the Knoxville market. Wallace remains committed to ensuring that buyers receive clear information and a consistent experience, regardless of which company they choose to work with.

If you've ever dreamed of living somewhere that feels like a permanent vacation, a golf course community might be calling your name.

From mornings along manicured fairways to sunset views over the 18th hole, homes on or near golf courses offer more than just prime real estate...they offer a lifestyle. Whether you're an avid golfer or just love the peaceful surroundings and resort-like amenities, East Tennessee has several sought-after golf communities with homes currently available.

Why Choose Golf Course Living?

• Scenic Views: Rolling greens, water features, and open skies abound when you live on or near a golf course.

• Built-In Community: Many golf neighborhoods come with clubhouses, social events, pools, and restaurants.

• Privacy & Peace: With fewer rear neighbors and plenty of green space, homes along fairways often enjoy more quiet and privacy.

Featured Golf Course Communities in East Tennessee

• Avalon in Lenoir City: This master-planned community offers golf, tennis, and upscale homes just minutes from West Knoxville.

• Gettysvue Golf & Country Club: Located in the heart of West Knoxville, Gettysvue offers luxury living and sweeping mountain views.

• Tennessee National in Loudon: A private, gated community featuring a Greg Norman Signature course and waterfront homes on Watts Bar Lake.

• Laurel Valley Golf Club: Also known as Wild Laurel Golf Course, this 18-hole, par 70 course is part of a gated community in Townsend, at the foothills of the Smoky Mountains.

• Lake Tansi Golf Course: Enjoy year-round play at this lush 18-hole championship golf course in Crossville, TN. Rated among the Top 10 Golf Courses in Tennessee by Golf Advisor.

Homes on the Market Now

Explore a curated list of current homes for sale in and near golf course communities across East Tennessee. From low-maintenance villas to custom estates with panoramic views of the course and even lots where you can build your dream home, there's something for every lifestyle and budget.

Explore Golf Properties for Sale in East Tennessee

Ready to Live on the Green?

If you're looking for a home that blends luxury, leisure, and location, let's find the one that fits your lifestyle. Whether it's your forever home or a weekend retreat, Wallace agents are here to help you explore the possibilities.

Let us know what you're looking for—and we'll tee up the perfect match.

Memorial Day marks the unofficial start of summer—and there's no better way to beat the East Tennessee heat than with a cool, refreshing pool.

Whether you're dreaming of a private backyard oasis or prefer the convenience of a community pool just around the corner, there are plenty of home options across our region that bring poolside living within reach. From neighborhoods with resort-style amenities to properties with personal pools perfect for entertaining, now's the time to dive into your summer-ready dream home.

Why Choose a Home with Pool Access?

• Instant Summer Fun: Pools can create a built-in space for fun, relaxation, and memory-making with friends and family.

• Entertainment Ready: Host pool parties, barbecues, or quiet evening swims in your own backyard.

• Wellness at Home: Swimming is a low-impact, full-body workout, and there's nothing like a quick dip to melt away the stress of the day.

• Community Connections: Many neighborhoods offer shared pools along with clubhouses, playgrounds, and sidewalks that make connecting with neighbors easy.

Featured Pool-Friendly Homes

Whether you're searching for a private pool, a home in a neighborhood with shared amenities, or even a low-maintenance townhouse with access to community luxuries, we can help you find the perfect fit.

Some of the most popular East Tennessee communities with pool access include:

• Whittington Creek – A West Knoxville favorite with a large community pool and clubhouse.

• Hardin Valley's Covered Bridge – Offers beautiful homes with access to neighborhood amenities, including a pool and pavilion.

• The Grove at Boyd Station – Known for new construction homes with community pools and modern layouts.

• Tellico Village – While not all homes have private pools, residents enjoy access to the community's wellness and recreation facilities, including indoor and outdoor pools.

Dive Into Summer—Before It's Gone!

Looking for a home that helps you soak up the season? Check out our curated list of homes with pools or located in communities that offer pool access.

View Homes and Properties for Sale with Pools

Whether you're planning summer pool parties or looking for a relaxing retreat, your next move could lead straight to the water!

Recently, Wallace Real Estate's COO Claudia Stallings sat down with local radio host Scott Brockamp for a conversation on his show, "Around the House." They chatted about changes to the real estate industry with regard to how real estate agents are compensated, and Claudia shared her insights about how these changes affect the experiences of home buyers and sellers.

She also shared some of the latest East Tennessee real estate market stats, plus advice for how consumers can navigate and make the most of the current market conditions.

Listen to her full interview below:

How Wallace Helps Agents Hit the Ground Running

Starting a real estate career or transitioning to a new brokerage can feel overwhelming. From learning new systems and tools to figuring out how to market yourself and grow your business, the early days can be a whirlwind.

That's why Wallace Real Estate takes onboarding seriously. Our goal is to help agents ramp up quickly and confidently. Whether you're a seasoned pro or just getting started, Wallace provides the structure, tools, and support you need to thrive.

We kicked off 2025 with a full orientation for 15 new Wallace agents, with each one leaving the session ready to proceed confidently on their real estate journey. From the moment they affiliated with Wallace, they were welcomed into a streamlined process built around success.

Agents had the opportunity to:

• Connect with their Principal Broker and support team

• Learn about the Wallace tech stack and get help setting up essential systems

• Access automated marketing tools and plug-and-play templates

• Meet their Tech Concierge, who provides hands-on support

• Discover Wallace's exclusive training programs and ongoing education

When the foundation is strong, confidence grows, and so does business. At Wallace, we don't just hand you the tools and wish you luck. We are there beside you all along the way.

For agents ready to make 2026 their year, Wallace offers more than just a place to hang your license. We offer a better way to work.

Explore what support looks like at Wallace.

Wallace Real Estate invites East Tennessee homebuyers to explore a wide variety of properties during Open House Weekend on April 11 and 12.

Wallace Real Estate is inviting the public to get out and explore during a special Open House Weekend happening April 11 and 12 across East Tennessee.

With more than 40 homes open for touring throughout the weekend, this event offers a great opportunity for buyers to step inside a variety of properties and get a better feel for what is available in today's market.

Click here to view participating homes, check open house times, and plan your tour.

For anyone considering a move, beginning the home search process, or simply curious about current listings, Wallace's Open House event makes it easy to explore different neighborhoods, home styles, price points, and communities all in one weekend.

Unlike a single open house visit, this event gives buyers the chance to make a full day or even a full weekend of exploring. Because participating homes will be open at different times throughout Saturday and Sunday, visitors are encouraged to use Wallace's website to browse the full list of homes, review schedules, and map out the properties they would like to tour.

This event also reflects Wallace Real Estate's ongoing commitment to creating meaningful exposure for listings while making the home search process more accessible and engaging for the public.

From first-time buyers to seasoned homeowners looking for their next move, Open House Weekend is designed to make it easier to explore the market in a way that is flexible, informative, and convenient.

Wallace Real Estate, founded in 1936, has spent 90 years serving East Tennessee with trusted real estate expertise and a deep commitment to the communities it calls home. Open House Weekend is one more way the company continues to connect buyers and sellers while helping people take the next step with confidence.

Click here to view participating homes, check open house times, and plan your tour.

Baseball has long been called America's pastime, and many U.S. Presidents have shared a deep connection with the game. From throwing out ceremonial first pitches to playing on the field themselves, the ties between the Oval Office and the diamond run deep.

Presidents & Their Love for Baseball

• Abraham Lincoln was said to enjoy a game of town ball—a predecessor of baseball—on the White House lawn.
• Teddy Roosevelt may have been known for football and boxing, but his son convinced him that baseball was just as important.
• William Howard Taft started the tradition of Presidents throwing the ceremonial first pitch, a tradition that continues today.
• Franklin D. Roosevelt urged Major League Baseball to keep playing during World War II, believing it would boost American morale.
• George W. Bush, a former owner of the Texas Rangers, famously threw a perfect strike at Yankee Stadium after 9/11.

Preparation is Key—In Baseball & Real Estate

Just like a batter steps into the on-deck circle to focus, strategize, and prepare for success at the plate, strong leadership—whether in baseball, real estate, or the presidency—starts with preparation. That's why Wallace Real Estate is proud to be the official sponsor of the Knoxville Smokies' On-Deck Circles at Covenant Health Park.

Since 1936, Wallace has been helping generations of East Tennesseans step up to their biggest moments—buying or selling a home—with the confidence that comes from having the right team by your side.

This Presidents Day, we celebrate the history of baseball and leadership—because success starts with preparation.

Principal Perspective is a regular blog series from Wallace Real Estate that shares insights in the form of interviews with our Principal Brokers. In this edition, we hear from North Office Principal Broker Jennifer Humphrey-Poveda about her start in the real estate industry, including how she initially got involved with real estate and what motivated her to become a broker.

I, like many who enter the real estate industry, came from a very different career path. In 1996, my husband and I were considering a move to Rockaway, New Jersey and the wonderful agent who was assisting us, John Rodimer with Prudential, told me that I should consider a career in real estate as he believed with my personality and skillset that I would make a great agent. I literally laughed at John for suggesting such a crazy idea.

While my husband was at work in his new job, John graciously showed me houses and introduced me to several beautiful communities in and around where my husband's new job was located. I quickly mastered reading the MLS Book and found a Victorian home on a hill with 3 acres and a creek that I had to see. John pulled into the driveway which had a shallow creek flowing across it and told me, "I guess we won't be looking at this one." I looked at him puzzled and asked, "Why not?!" He stated, "There is a creek running across the driveway." I replied, "And?" to which he replied he couldn't just drive through the creek.

Unfortunately, John had never been to Tennessee or visited Cades Cove where driving through a shallow creek isn't considered dangerous or unwise, so I suggested that we walk across the creek and up the hill to view the home. John indulged me and carefully rolled up his pants and removed his socks and shoes while I eagerly waited on the other side of the creek for him. Once he crossed the creek, he asked if I lacked feeling in my feet as although it was Summer the water was cold and the rocks hurt his feet. I told him, "No, I have feeling in my feet, the water is cold, and the rocks hurt my feet too, but I have to see this house." I fell in love with that home and couldn't wait for my husband to see it. Unfortunately for John, my husband hated this house, another house that we went under contract on didn't work out, and my husband's new job transitioned to him commuting back and forth versus us relocating so we did not buy a home in New Jersey.

Fast forward to 2001, my husband and I were considering another job transfer opportunity to Atlanta, GA and thankfully the agent assisting us there knew that we needed contingencies in our contract for selling our current home AND the job transfer as a company strike eliminated the position for my husband in Atlanta, GA. It was after the second failed relocation that I suggested to my husband that I pursue a career in real estate, so that we wouldn't have to move, and our children could stay in this area and be near our extended families.

The "seed" planted by John Rodimer that I should become a real estate agent has been such a blessing to our family. It provided both the flexibility in hours and additional income we needed to pay for services to help our oldest child overcome the challenges of a learning disability.

Another "seed" was planted during my pre-licensing classes in 2001. The instructor of my classes told me that I should consider becoming a broker. I laughed at him and said I would NEVER want to be a broker. Well, that "seed" sprouted when our oldest son went to college, and we needed to pay out of state tuition.

I called John when I got my affiliate broker license and thanked him for his help searching for homes and for "planting that seed" to become a REALTOR. I called him again when I became a broker in 2016 and he still remembered 20 years later crossing a creek for the first time. There is much more to this industry than simply making money, it's about providing a valuable service and fostering relationships that last well past the closing date.

As they say, never say never as you don't know what your future may hold. I am thankful that I met John and that both he and our agent in Atlanta knew we needed contingencies in our contracts to protect us during the homebuying process. Without their knowledge, guidance, and expertise our failed relocations would have been costly to us and ended very differently. I highly recommend using a REALTOR when buying or selling a home to make sure that you have the necessary contingencies in your contracts too!

Jennifer "Jenni" Humphrey-Poveda is a graduate of the University of Tennessee, has been a Realtor since 2002, has been the Principal Broker for Wallace Real Estate's North Office since September 2016, and has lead 65+ agents to close on over 500 transactions annually. In 2021, her office was ranked #4 based on closed units in the State of Tennessee for the franchise. Her focus is on maintaining an office culture of collaboration and mutual respect, protecting the best interest of her agent's clients, and providing the training and support her agents need to build a sustainable business model. She is married, has two sons, and when not working enjoys spending time with her family, gardening, photography, volunteering, and exploring new beaches.

November 15 is America Recycles Day, the only nationally-recognized day dedicated to promoting and celebrating recycling in the United States. A national initiative of Keep America Beautiful, this observance is to educate and encourage people in communities across the country to be more mindful of what they consume.

Another purpose of this holiday is to share resources for recycling, including where and how, plus best practices and other tips.

In honor of America Recycles Day, Wallace Real Estate is sharing a round-up of recycling resources for our friends and neighbors in East Tennessee.

City of Knoxville Residents -

If you live in the City of Knoxville, you have several options for recycling. The City of Knoxville's recycling program began in the 1980s, with the first recycling drop-off centers. Today, approx. 30k Knoxville households are signed up to receive the curbside pickup services.

Did you know that when bins of mixed recycling items are collected, they get delivered to WestRock, a materials recovery facility near downtown? Here, they are sorted and re-distributed to various organizations who use them to make new products.

For more information about recycling in the City of Knoxville, click here.

There's also some great information to explore on the Keep Knoxville Beautiful website. Check it out here!

Knox County Residents -

For Knox County Residents, recycling options include drop-off centers for items ranging from aluminum cans and plastic bottles, to car batteries and CFL lightbulbs.

In addition to the county drop-off centers, there are several other recycling centers located in the greater Knoxville area. If you are a City of Knoxville resident you can call 215-4311 for more information on city recycling centers and curbside collection. Please note that some of Knox County's smaller centers have limited recycling options.

For more information contact the Knox County Solid Waste Office.

Blount County Residents -

For residents of Blount County, Tennessee, there are several options for recycling. The Blount County Recycling Center, which is located at 331 Levi Street in Maryville, accepts recycling from the City of Alcoa, the City of Maryville, and Blount County residents.

Options at this facility include mixed paper, cans and plastic, corrugated cardboard, newspaper and glass.

Explore more information and resources in Blount County at Keep Blount Beautiful.

Loudon County Residents -

If you live in Loudon County, there are three recycling and convenience centers, in Greenback, Lenoir City, and Loudon.

To learn more about options in your area, click here.

East Tennessee is a haven for horse lovers, and if you're dreaming of a property where you can live alongside your equine companions, you're in luck. Whether you're seeking a luxury equestrian estate, a charming country cottage with room for a barn, or a wide-open stretch of land to build your dream home, there are currently a number of listed properties that cater to horse-friendly living.

These properties stretch across a vast and beautiful region—from Etowah in the south, to the rolling land of Del Rio in the east, and as far north as Celina and Oneida. No matter where you're looking, you'll find options to suit a range of lifestyles and budgets.

What Makes a Property Horse-Friendly?

For those new to horse ownership, or just beginning to explore the idea, here are a few features that make a property ideal for horses:

• Adequate acreage: A general rule of thumb is 1.5–2 acres per horse for pasture turnout.

• Barns or stables: Existing barns can save time and money, and some homes already feature well-designed facilities with tack rooms, feed storage, and stalls.

• Fencing and flat land: Safety is key. Properties with existing fencing and relatively level ground are ideal for pastures or riding areas.

• Access to trails or open space: For trail riders, properties near national forests or riding trails are especially appealing.

Properties for Every Type of Horse Owner

Here's just a glimpse at the range of available listings:

• Elegant Equestrian Estates: Featuring professional-grade barns, riding arenas, and luxurious homes designed with both comfort and function in mind.

• Country Cottages with Barns: Smaller-scale homes with charming details, perfect for hobby horse owners or those just getting started.

• Buildable Land: Vacant acreage with plenty of room to design your dream home, barn, and pasture—just the way you want it.

Whether you're looking to board a few horses for pleasure riding or create a full equestrian facility, there's something in East Tennessee that fits your vision.

Click here to start exploring horse properties today!

Our experienced agents can help you find the right fit—whether you're in the saddle every weekend or just getting started with your first horse.

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Tis the season of twinkling lights, festive tunes, and the age-old question: How does Santa Claus manage to deliver presents to every well-behaved child in the world in just one night? While the magic of the season may never lose its charm, let's explore some statistics about homes with fireplaces and ponder how the jolly old man in red might make his grand entrance.

1. The Chimney Conundrum: How Many Homes Have Fireplaces?

Before we unveil the mysteries of Santa's entry tactics, let's explore just how many homes in America boast a chimney. Data shows a decline -- both in the number of new homes with fireplaces and older homes sold with at least one fireplace. Nearly 900,000 new homes built in the late 1970s were equipped with this traditional and cozy feature. This number dropped to just under 400,000 in 2017.

There are many factors that could have contributed to this decrease, including cost of installation and maintenance, as well as changes in heating and cooking options. Some might consider a fireplace more of a luxury feature, or just might not prefer to have one.

2. Ho-Ho-How Does He Do It? The Physics of Santa's Chimney Entry

Now that we have a grasp on chimney prevalence, let's consider the logistics. Santa, being the clever gift-giver that he is, must have a few tricks up his fluffy red sleeves. Some speculate that he utilizes advanced chimney physics, employing a magical resizing ability to fit through any chimney, big or small. Imagine Santa squeezing down a chimney like a present-wrapped physicist through a wormhole—it's a festive thought, indeed!

3. Naughty or Nice: Chimney Edition

But what about homes without chimneys? Fear not, for Santa is an equal opportunity gift-giver. Modern statistics suggest that households without chimneys receive their presents via alternative routes. Perhaps Santa employs a bit of holiday teleportation or finds creative ways to use keyholes, mail slots, or even pet doors. After all, a little Christmas magic goes a long way.

4. The Fireplace Wishlist: What Santa Might Prefer

Rumor has it that Santa has a soft spot for homes with grand fireplaces. Can you blame him? Picture Santa enjoying a brief fireside break, sipping cocoa, and reading wish lists by the warm glow. If you want to ensure top-notch present delivery, consider upgrading your fireplace game. Who knows? You might find a note from Santa himself expressing his appreciation.

In conclusion, the magic of Santa's chimney adventures remains one of the enchanting mysteries of the holiday season. Whether your home boasts a grand hearth or not, rest assured that Santa's bag of tricks is as bottomless as his sack of presents. As we eagerly await the sound of sleigh bells and the pitter-patter of reindeer hooves on rooftops, let's marvel at the wonder of a season that brings joy, laughter, and just a touch of magical chimney navigation.

Wishing you a chimney-full of holiday cheer and a Merry Christmas!

During the past few years, the real estate market in East Tennessee has been a whirlwind ride. Much of this had to do with the influx of residents moving to our area during and after the COVID-19 pandemic. It was never really a secret that East Tennessee is a wonderful place to call home!

You may have heard that the market has changed a little, but just what does that mean for would-be sellers who are wondering, "Is now a good time to sell a house?"

The answer to that question is a resounding YES! When we look at our local trends, strong buyer demand is still pushing prices up in our area.

We are still in an atmosphere of multiple offers and quick sales. This means that sellers can really get the most out of their home if they sell. It is still a sellers' market.

As a would-be seller, you might be wondering what your home is worth in the current market. There are a lot of factors that affect your home's value, and we advise against placing your trust in a computer-generated system like a Zillow Zestimate.

Every home is unique. For the most thorough understanding of what your home is worth, it's best to reach out to a professional who can ask you questions and even view your home to establish the right asking price.

Wallace Real Estate agents have a lot of education and expertise in pricing homes all across east Tennessee. When you work with a Wallace real estate professional, you'll have a trusted local guide to help you through each part of the process. Contact us today!

Spring is officially here—and so is one of the busiest seasons for real estate. With warmer weather and longer days, more homes are hitting the market and more buyers are actively searching. That means one thing: competition is heating up.

If you've been thinking about buying a home, this is your chance to get a jumpstart. The Wallace Open House Blitz is happening Sunday, April 6th, with more than 50 homes across the region being held open to the public. There are also some properties being held open on Saturday, April 5th!

Click here to see a full list of Wallace properties being held open this weekend!

Whether you're just getting started or you're ready to make a move, it's a fantastic opportunity to explore different neighborhoods, get a feel for the market, and find the home that's right for you.

Why Act Now?

After the slower pace of the market during colder months, serious buyers who start early will have the widest selection of properties to choose from. Waiting too long can mean missing out on the perfect home—or finding yourself in a competitive multiple-offer situation.

If you're serious about buying, one of the smartest first steps you can take is getting pre-approved for a mortgage. Not only does this help you understand your budget, but it also shows sellers you're ready to move forward when you find the right home.

Want to make the most of attending an Open House? Here are some tips:

• Do your research in advance. Make a list of homes you'd like to see and map out your route to make the most of your time.

• Take notes and photos. After viewing several homes, it's easy to forget the details. Keeping a quick note on what you liked (or didn't) helps narrow your options.

• Ask questions. Our knowledgeable Wallace agents will be on hand to provide insight about the property, the neighborhood, and current market conditions.

• Look beyond the surface. Try to envision how the space will work for your lifestyle. Consider layout, natural light, and potential for personalization.

• Have your agent on standby. If you don't already have one, we can connect you with a Wallace agent who can guide you every step of the way.

Whether you're a first-time buyer, a seasoned mover, or simply curious about what's available in East Tennessee, the Wallace Open House Blitz is your chance to tour multiple homes in one day—without the pressure.

Plus, you can enter to win a Grand Slam prize package!

As you visit homes during the Open House Blitz, be sure to enter for a chance to win our Grand Slam Prize Package, featuring 4 tickets to a Knoxville Smokies game at Covenant Health Park (valid for any regular season game except Opening Day or July 4th) plus Smokies swag to get you game-day ready.

Just stop by any participating open house on April 6th to enter—every property you visit gives you another chance to win!

Click here to see a full list of Wallace properties being held open this weekend!

Don't miss this opportunity to explore your options, and find the one that feels like home.

May 1st is New Homeowners Day! At Wallace Real Estate, we understand the excitement and sense of accomplishment that comes with purchasing your first home. It's a milestone worth celebrating, and we're thrilled to be part of this journey with our homebuyer clients.

If you've recently become a homeowner, congratulations! As you embark on this exciting chapter of your life, there are a few essential steps to take to ensure a smooth transition. Whether it's your first venture into the real estate market or you're upgrading to a new space, we've compiled a list of tips to help you settle in comfortably and make the most of your new home.

So, if you've just unpacked your boxes and are eager to make your house truly feel like home, read on for some practical advice and handy tips. Here are some key considerations to keep in mind as you begin this exciting journey.

1) Change the Locks: As soon as you move into your new home, it's wise to change the locks or rekey them. You never know who might have a spare key from the previous owner, so this simple step helps ensure your home's security.

Our partner, 2-10 Homebuyers Warranty even offers a special program to make changing the locks simple and affordable!

2) Familiarize Yourself with Utilities and Maintenance: Take the time to locate the main water shut-off valve, circuit breaker box, and any other essential utilities in your home. Additionally, familiarize yourself with basic maintenance tasks like changing air filters, testing smoke detectors, and cleaning gutters.

3) Start Building an Emergency Fund for Home Repairs: Owning a home can bring unexpected expenses. Start building an emergency fund specifically for home repairs and maintenance. Having this financial cushion can alleviate stress when unexpected issues arise.

If you don't have a home warranty, it might be something to consider. Connect with our 2-10 Home Buyers Warranty partner with any questions you might have.

4) Document Important Information: It's important to keep track of all relevant documents related to your home purchase, including contracts, warranties, and manuals for appliances or systems. Organize them in a safe place for easy access when needed.

5) Join a Community: Get involved in your new neighborhood by attending local events or joining community groups. Not only does this help you feel more connected, but it's also a great way to learn about your area and potentially find recommendations for service providers like plumbers or electricians.

Again, congrats on your new home! We're so proud to be part of your journey!

Adopting a dog is a big decision, and if you're getting ready to welcome a pet into your home, there are some things you should know. You're about to embark on an incredible journey filled with love, companionship, and wagging tails. But before you bring home your new furry friend, there are a few important things you should know to ensure a smooth transition for both you and your future four-legged family member.

1. Consider Your Lifestyle: Dogs come in all shapes and sizes, and so do their activity levels. Think about your daily routine, energy level, and living space. Are you an active person who loves long hikes, or do you prefer cozy evenings on the couch? Understanding your lifestyle will help you choose a dog with compatible energy.

2. Research Dog Breeds: If you have specific expectations or preferences for a dog's size, temperament, and activity level, do some breed research. Remember that shelter dogs come in all shapes and sizes, so you might find your perfect match even if you're not set on a particular breed.

3. Prepare Your Home: Dog-proofing your home is crucial. Remove potential hazards like toxic plants, chemicals, and small objects your new dog could swallow. Make sure your home is secure, with a fenced yard if possible. Consider crate training for safety and comfort.

4. Budget for Expenses: Dogs come with financial responsibilities. In addition to adoption fees, be prepared for ongoing expenses such as food, grooming, veterinary care, and unexpected emergencies. Budgeting for your pet's needs is a sign of responsible pet ownership.

5. Training is Key: Most shelter dogs have had unique life experiences, so it's important to invest time in training. Basic obedience training and socialization will help your dog adjust to their new home and become a well-behaved member of the family.

6. Health Check-Up: Schedule a vet visit soon after adopting to ensure your dog is healthy and up to date on vaccinations. Discuss preventive measures like flea, tick, and heartworm prevention with your vet.

7. Patience is a Virtue: Shelter dogs may have experienced trauma or neglect, so they might require extra patience and understanding as they adjust to their new life. Be prepared for challenges, and remember that building trust takes time.

8. Exercise and Mental Stimulation: Dogs need both physical and mental exercise to stay happy and healthy. Plan regular walks, playtime, and puzzle toys to keep your pup engaged.

9. Love and Attention: Dogs are social animals and thrive on companionship. Spend quality time with your new dog, build a strong bond, and shower them with love and affection.

10. Community Support: You may want to consider joining some local dog groups, forums, or training classes to connect with other dog owners. Sharing experiences and advice with fellow dog lovers can be incredibly helpful.

Remember, adopting a shelter dog is a rewarding and life-changing experience. By being well-prepared and committed, you can provide a loving forever home to a dog in need.

Your new furry friend will repay your kindness with loyalty, companionship, and endless tail wags.

Welcome to the wonderful world of dog ownership!

Interested in investing in commercial property? Whether you're a seasoned investor or a first-time buyer, navigating the complexities of the commercial real estate market requires careful consideration and strategic planning. In this blog, we'll explore the important things to keep in mind when purchasing commercial property.

1. Define Your Investment Objectives: Before diving into the market, it's crucial to clarify your investment objectives. What is your end goal? Are you seeking steady rental income, capital appreciation, or a combination of both? Understanding your goals will help guide your property search and investment strategy.

2. Financial Analysis: It's important to conduct a thorough financial analysis to assess the viability of the investment. This includes considering factors such as purchase price, financing options, operating expenses, potential rental income, and projected cash flow. Calculating key metrics like cap rate, cash-on-cash return, and internal rate of return (IRR) can help evaluate the investment's profitability. When you work with a Wallace Commercial advisor, you'll have access to data to help determine each of these things.

3. Location, Location, Location: The location of the commercial property plays a significant role in its success. It's important to evaluate factors such as demographics, economic trends, accessibility, proximity to amenities, and visibility. A prime location can attract tenants, drive foot traffic, and enhance the property's value over time.

4. Property Type and Use: Commercial real estate encompasses various property types, including office buildings, retail centers, industrial warehouses, multifamily complexes, and hospitality establishments. Determine the type of property that aligns with your investment goals and risk tolerance. Each property type has its unique characteristics, market dynamics, and investment considerations.

5. Physical Condition and Maintenance: Assess the physical condition of the property, including structural integrity, building systems, and maintenance requirements. A thorough inspection can uncover potential issues that may impact the property's value or require costly repairs in the future. Factor in ongoing maintenance and renovation costs when evaluating the property's financial feasibility.

6. Regulatory and Zoning Considerations: Understand the regulatory and zoning requirements governing the property. Ensure compliance with local zoning ordinances, building codes, environmental regulations, and permitting processes. Non-compliance can lead to legal liabilities, delays, or restrictions on property use.

7. Market Dynamics and Trends: Stay informed about market trends, supply-demand dynamics, and economic indicators affecting the commercial real estate sector. Monitor rental rates, vacancy rates, absorption rates, and development activity in your target market. A deep understanding of market conditions will inform your investment decisions and risk management strategies.

8. Due Diligence: Perform thorough due diligence before finalizing the purchase. Review financial records, lease agreements, property documents, and title reports. Engage qualified professionals, such as attorneys, appraisers, and inspectors, to assess legal, financial, and physical aspects of the property.

9. Exit Strategy: Develop a clear exit strategy to guide your investment journey. Whether you plan to hold the property long-term, renovate and flip it, or sell it for profit, having a well-defined exit strategy will help you make informed decisions and maximize returns.

10. Seek Professional Guidance: Consider seeking guidance from experienced real estate professionals, including brokers, attorneys, accountants, and property managers. Their expertise and insights can provide valuable guidance throughout the purchasing process, from property selection to closing.

In conclusion, purchasing commercial property requires careful consideration, due diligence, and strategic planning. By understanding your investment objectives, conducting thorough analysis, and staying informed about market trends, you can make informed decisions and navigate the commercial real estate market with confidence.

Remember, each property is unique, and success often hinges on diligent research, prudent decision-making, and a long-term perspective. With the right approach and professional support from a trusted local brokerage, commercial real estate can be a rewarding asset class that generates wealth and creates value for years to come.

The real estate professionals in my company are reporting that they are feeling the market slow down. And from their perspective, it means that there just aren't as many sales happening as there were last year or the year before. They are assembling fewer offers for buyers, and there are fewer people choosing to put their home on the market.

Curious about how this slowdown, after coming off of record high sales compared to the last time we had a slowdown after record high sales, I began digging into the data. Arguably, 2005, 2006 and 2007 show similar market activity to 2020, 2021, and 2022. Lots of sales were happening back then, thanks to a lending environment offering 100% loans, mortgages requiring no financial documentation, the ability to roll in closing costs to the loan so money needed to purchase was less, and what felt like favorable interest rates.

But then in 2008 and 2009, we started to feel the beginnings of the market slowdown that ultimately, resulted in the Great Recession.

I'm certainly no economist, but I did live through the recession as a real estate professional. When we compare the slowdown of 2008-2009 to the slowdown of 2022-2023, there are some striking differences that need to be recognized. Generally, a slowdown of any kind feels the same from a workload perspective, regardless of its cause, so there is a tendency to assume what's happening now is the same as what happened then. But let's take a look at the facts.

In data collected from the East Tennessee Realtors Multiple Listing Service with a 12-month snapshot between September 2008 and August 2009 vs. the same months in 2022-2023, I see that the number of new listings entering the market was about 31,000 then, while the number of new listings this past 12 months was about 24,000. That's a notable difference. Fewer homes are being offered for sale now.

And when those new listings entered the market back then, they lingered longer. The average number of time a home spends on the market today from list to sale is 33 days. Back then it was 111. So, by comparison, the pace of sales today is still historically brisk.

Here's an interesting fact from back then…once a house hit the market, and because it hung around longer, it meant that we were carrying an average monthly inventory of about 16,000 homes. Now, that number is just over 5,000.

But I think the most significant statistic is the number of homes we sold in our service area between September of 2008 and August of 2009…10,000, which seems like a lot until you compare it to the same months today…19,000 homes sold. Using rounded math, that means that nearly twice the number of homes are selling now as were selling then.

The difference is that buyer demand today is fueled by the fact that the Millennials and the Baby Boomers, two of our largest generations are legitimately needing homes. Covid allowed people to choose where they wanted to live vs. where they had to live and east Tennessee was discovered. Back in 2008-2009, buyer demand was, in large part, due to the fact that loans were easy to get with little proof that the buyer could afford the home over time. And when those buyers could no longer pay the mortgage, we saw a flood of foreclosures and short sales. Today, buyers have to go through a rigorous approval process proving they can afford their payments. The Tennessee Department of Labor and Workforce Development shows about an 8 percent unemployment rate between 2008 and 2009, while today, that number is around three percent. Another big difference between then and now.

Interest rates back then averaged 5.34 for the 12-month snapshot, and today the average is 6.62, although that number is rising. While this is a meaningful difference, our perspective on this number is likely affected by the speed at which rates have risen in the past year. The information to understand here is that interest rates are always changing, and lenders are developing programs that will allow buyers to refinance if rates go down, or they may qualify for a buy-down loan, which helps relieve the higher cost of borrowing for the first few years of the mortgage. Your Realtor can connect you with lenders that offer these programs.

So, compared to the last slowdown, we are selling twice as many homes, buyers have 1/3 of the number of choices they had then which causes competition (and thus home price increases), and homes that are listed are still selling in about a month. Prices are still increasing (although not at the double-digit percentage increase we saw in 2021), or they are holding stable because of the current supply/demand imbalance, with more demand than supply.

*"Thought Leader" is a blog series that shares insight and expert knowledge from Wallace leadership. This article by Wallace COO Claudia Stallings was originally published in the Knoxville News Sentinel.

Do you pay your doctor only if the cure to what ails you is a long time coming? Does a contractor earn his wage only if it takes more time than you'd hoped to finish a home improvement project? Are you happier with your mechanic when it takes weeks instead of days to repair your car? In this world of instant gratification, the service providers who don't get the job done right away are considered not as skilled in their trade as the service providers who work quickly and efficiently.

So why is it, when a house goes on the market and an offer comes in immediately, the sellers often don't think that the real estate agent worked hard enough for their commission? In fact, the opposite is true. A quick sale means an agent has done their job with skill, knowledge, planning, and precision.

A real estate agent is hired to bring a buyer and a seller together. As listing agents, we do that by putting marketing out into the world for the public and for other agents to see. But that's not all.

Even the best marketing, visible to the most people, is not the only thing needed to sell a house quickly. An agent must know their market. They must provide the seller with great advice using market statistics to come up with the appropriate asking price. An excellent real estate professional earns their commission not only by marketing, but by properly positioning the house to sell.

Looking at the prices of homes that have sold is perhaps the most common way to come up with an asking price, but that's not enough. An examination of the asking prices of the current homes for sale is smart, but you must use that information, not to select a similar price for your listing, but to properly position your home among those homes with which you will be competing.

Your agent should be able to provide you with the absorption rate of homes like yours in your area. Absorption rate will tell you the pace at which homes are selling in a given time period. Let's say, in the past year, 12 homes like yours have sold. If 16 homes like yours are currently for sale, then at the current rate of sale, it means that 75% of the current listings will sell in a year's time.

While it is true that no one can guarantee the speed at which a house will sell, there are ways to up your odds of selling quickly. Using the numbers above, you can see that homes are selling at a rate of 1 per month. If 1 per month sells, to figure out your chances of selling in 30 days, divide the number sold in a month (1) by the number of homes currently for sale (16), then the odds of selling a house like yours in one month is just 6%. That means that 94% of the current inventory will NOT sell in 30 days. And that is assuming nothing else enters the market in that length of time.

How do you sell in 30 days? Your house has to be a better value than 94% of the competition. Notice I did not say a lower price than 94% of the competition, but a better value. There is a difference, and a real estate agent who is skilled in their trade can help position your home appropriately, and can increase your odds of selling quickly.

The market value of a house isn't the price for which others sold. It isn't the appraised value, it isn't the price at which other homes are listed, and it isn't what the seller has in it or wants to get out of it. It IS what a buyer is willing to pay for it.

Have your agent help you properly position your home among the competition and you will find a ready, willing, and able buyer in the time you desire.

*This article was reprinted with permission from the Knoxville News Sentinel April 14, 2024 Edition.

Today's big game represents the pinnacle of the professional football season. The players on the top two teams in the nation will give it all they've got for one hour of play. That hour of actual action will stretch into nearly four hours for the televised event including the pre-game rituals, the commercial breaks, halftime and timeouts.

For those working at the stadium today, their day started hours earlier to clean, prepare for the food, lay out merchandise, pull out equipment, set up technology, prepare the parking lot, and all the other things associated with putting on one of the most visible events of the year. But even before that, people were working on scheduling, on planning, on transportation, on lodging, on signage, and hiring staff. And before that, someone planned for the location and arranged for the sponsors and invited the entertainers.

But what about the players? Well, they started preparing for this day as soon as last year's game was done by working out, eating well, and attending practice, not to mention playing in a full season of professional football to get to this point. But even then, their preparation goes back to their college experience, and before that, their high school team, and likely, all the way back to when their parents had to shuttle them to and from little league practice before they could drive themselves.

The point is, there is a lot that goes into one hour of football at the highest level. There are a lot of things that have to happen precisely at the right time for a player to find themselves at the Super Bowl. And, the deserving winners will be celebrated in a huge way from rings, to confetti, to advertising contracts, etc.

The real estate industry typically celebrates its top performers around this time every year as well. And just like in football, there is a lot that goes on before the trophy is handed out at any awards event. The top agents in our industry are able to look back at a productive year, and recall the hours and miles of showings, the weeks and months of consultations with sellers regarding home preparation, the behind-the-scenes administrative, marketing and paperwork, and the time spent in negotiations.

But their work goes past the mechanics of getting a property from contract to close. It goes back to market analyses done to set an appropriate price, to working through title searches, inspections, appraisals, insurance, repairs, lending requirements, zoning and more. And before that, the area's top agents have likely gone through years of in-the-field training, continuing education, licensing requirement education and the school of hard knocks. They may have even sat through hours of lessons on septic systems, mold remediation, metes and bounds, disclosures, wills and estates, technology, and other things essential to real estate that aren't exactly related to lovelier things like curb appeal or decorating.

Like a football game, closing usually takes one hour. But the hurdles to get there are many, and agents deserve to be celebrated in a large way. After all, they are helping families, friends, colleagues and people they just met make what may be their largest investment.

Everyone knows a real estate agent, but those agents' hard work isn't on stage in the national arena for celebration. But what they accomplish is often a life event for every person they guide through the process, and that experience lasts a lifetime. So, drop the confetti cue the band, and join with me in celebrating those in our midst who help change lives.

  *This article was reprinted with permission from the Knoxville News Sentinel Feb. 11, 2024 Edition. 

It's the season when real estate pundits across the country submit their bold predictions for the year to come. And the forecasts showing in their individual crystal balls are not necessarily all the same. For instance, HousingWire Research says the number of homes sold in 2025 will grow by five percent, while the National Association of Realtors is predicting a more robust nine percent increase. Another real estate news source, RISMedia has an increase of 1.5 percent in their forecast. Politics plays a large role in the availability of mortgage money, interest rates, and consumer confidence, and that's in a state of upheaval. So, it's proving to be difficult to predict what will happen in 2025.

East Tennessee has a multi-year history of outperforming the national predictions. If we look at a number somewhere in the middle of all those national predictions, perhaps we'll settle in at an increase of about five percent or so. A few things must happen before we get moving forward into 2025, as 2024 sales underperformed when compared to the predictions that were made this time last year.

In 2024, we got stuck in the presidential election mire. Interest rates remained higher than people preferred, and we are still in the grips of the "lock in" effect, where homeowners with very low mortgage rates decided that keeping a low rate was more attractive than moving. We are on the back side of record price appreciation, so homes became very quickly unattainable by many buyers, most notably the younger generation of buyers seeking their first property, and that demographic is having to take more time to prepare themselves financially for a purchase.

Most all the national analysts predict that home sale prices will continue to increase, but at a slower pace than in more recent years. This means that investors may not be as interested in scooping up homes, as it will take longer for them to realize a significant gain. It also means that the ability to afford a home continues to elude many buyers.

But on the other side of the coin, there is the prediction that more homes will be on the market, and they will be on the market for a longer period of time. This may give buyers enough hope that a home that makes sense for them will be available, and it may draw them into the market. Interest rates are not predicted to move very much. All of this is to say, it may be a year where the market starts to see balance between available properties and buyers who want and can afford them.

Housing is still predicted to be a good, solid investment, and there are hundreds of thousands of homeowners who are sitting on an equity amount like they've never had before. And none of this is bad, it's just different than where we've been recently.

*This article was reprinted with permission from the Knoxville News Sentinel in 2024.

I have the privilege of serving on the board of directors for Family Promise of Knoxville. Our organization is small but mighty, with the lofty goal of keeping families with children from experiencing homelessness. And, should something happen that causes a family to be without a place to live, the organization has a network of connections to provide emergency shelter, as well as services to help families get back to a point where they are self-sustaining. It needs to be said that homelessness isn't always because of addiction, mental illness or poor choices. In fact, it can happen to any of us at any time.

Take the homeowners and renters who lost everything in Hurricane Helene, for instance.

As a board member, I decided to attend the Family Promise National Conference, and have just finished two full days of sharing best practices and learning from experts and peers across the country. I made it a point to attend the session about housing loss and the grief associated with such loss so that I better understand my own customers and clients who come to me for help, whether that be through Family Promise, or whether that be through the more traditional real estate route.

What I learned is that some homeowners are empowered to grieve over loss of their home, and some are denied this right due to social stigmatization. Losses such as we've seen in our more immediate area including the eastern part of Tennessee and western North Carolina are sudden, unexpected losses that will profoundly affect these homeowners or renters for the rest of their lives financially, physically and emotionally. And currently, they are in crisis mode, trying to figure out what will happen today and tomorrow, and that is as far as they are able to plan due to the chaos around them.

Eventually, the emergency of the situation will fade, and they will be able to make a plan for what happens the rest of the year and for the years to come. There is a window of time, likely well into the future if not forever, when grief for this type of housing loss is not only allowed but given a place to occur and shared among the communities that are currently rushing in to offer help.

Then there is the type of loss that occurs when one loses their shelter because they just can't make ends meet. Or the car needed an unexpected repair and they couldn't afford rent or the mortgage, or there was a job loss that caused financial hardships. Those experiencing homelessness due to these types of situations are often not given the liberty to grieve, as this is sometimes labeled as "self-inflicted" or "avoidable." Those studying the effects of housing loss, especially experienced among children, call this disenfranchised grief, or denial of the right to grieve.

Regardless of the reason someone is without housing, the grief can be as strong as the loss of a beloved family member or friend. And if the loss is due to personal circumstances, grief is paired with guilt. There can be fear of the situation repeating itself which makes it hard for anyone, regardless of the cause, to be able to move forward.

So, this column is really directed to my fellow real estate colleagues, with a request to remember that we need to meet people where they are. And to understand that some of those seeking our help may cope differently than others, and that patience, guidance, and clarity is a non-negotiable when working with those who have experienced housing loss.

Our area experienced the migration of many people to our area after hurricane Katrina. It's possible that Helene will also send people our way. That remains to be seen. Should that happen, it is my hope that our community will welcome them, allow them to grieve, and to give them stability to move past that grief.

*This article was reprinted with permission from the Knoxville News Sentinel in October 2024.

"Won't you be my neighbor?" sang Mr. Rogers every day on the PBS program, Mr. Rogers' Neighborhood. Along the same lines, from Sesame Street, is the song, Who are the People in your Neighborhood?, a happy song about meeting your neighbors. According to dictionary.com, the word, neighborly means, "characteristic of a good neighbor, especially helpful, friendly or kind." There's Neighborhood Watch, which is a program where members of a neighborhood agree to work together to help keep the neighborhood safe. And Friendly Neighborhood Spiderman is, of course, your friendly neighborhood Spiderman.

This year, I attended a luncheon put on by Leadership Knoxville, celebrating leaders in our area who have recently gone through a year-long program learning about our city in a variety of ways. One of the speakers challenged us to get to know our neighbors better to bring about a greater sense of community and foster civility. To do this, we were presented with a grid of three squares going across, and three going down, much like a tic-tac-toe board. The middle square marked our own home.

The challenge included physically knocking on the doors of the homes of our neighbors in front of us, behind us, on both sides, and diagonally in all directions, and get to know the people in those households. The hope is that we'd have better relationships and understanding with eight more families than we may have had before. Then, to keep the relationship going, we were instructed to write our neighbors' names in the squares around our house and put it on the refrigerator. Then, call our neighbors by name when we see them. Check in on them from time to time. Be "neighborly."

I usually wave to my neighbors when they are out with their dogs or working in their yard. The neighbor around the corner organizes get-togethers about twice a year and sends helpful emails with neighborhood information. I know the names of the neighbor's dogs across the street. The neighbor up the street goes to our church so we see them occasionally there. Now I'm Facebook friends with some former neighbors. But I must admit that I do not know much about all the people who go about their lives just a few yards away from me.

Do you know your neighbors? They say that good fences make good neighbors, but are you willing to open the gate to that fence and help establish a greater sense of community in your corner of the world?

*This article was reprinted with permission from the Knoxville News Sentinel in 2024.

Research shows that the average American moves every 10 years. That means that there are some of you reading this, who have been in your house for 10+ years, and may be at the point where you are thinking of a move. But…you've not taken any steps toward that idea because of the latest news headlines that bemoan high home prices and high interest rates.

The average potential buyer starts on the internet, does a little research and may come away with sticker shock. That causes their research to stop, and they decide not to make a change. But there's a piece of research that is missing that they may never consider, and that is that they may be sitting on a pot of gold.

My husband and I just made a move. Partly to free ourselves from yard work, and partly to cash in on the equity that we had earned by doing nothing but living in our property for a few years. We sold our home for just about twice what we paid for it in 2018. The remaining mortgage balance was easily paid from the proceeds, and then, we had decisions to make about what to do with the large equity balance, the likes of which we'd never experienced in previous moves, thanks to the recent price increases in our area.

So, I did the research. I worked with my lender and got scenarios on what our finances would look like if we put 50% down on the next property (using almost all our equity to do so). But we also investigated 20% down options and 5% down options, enabling us to purchase the next property, but also leaving us with cash to invest elsewhere. We decided to put down less and get creative with our equity cash.

We purchased a condo in the city where our oldest son is living. We paid cash for the condo using nothing but the equity from the sale of our home in Knoxville. He will rent the place from us, and we can charge him below-market rates because there is no mortgage expense for us, saving him money. Our investment gain will come when we sell the condo sometime down the road.

But this decision also gives us flexibility. If we ever needed the money for an emergency, we could sell the condo and cash out, and not have to leave our own home or borrow against our primary home to access our own money. Or our son may choose to purchase the place from us someday. With the rental savings he'll have, he may be able to make his own investment more quickly because he will be able to save more now.

I had equity leftover, even after the purchase of the condo, so we paid off a couple of cars and have freed ourselves from those monthly payments. Basically, by selling our house and being smart with the equity, we were able to both eliminate debt and invest…something we would not have been able to do had we decided to stay put.

Here's an example. Ten years ago, the median sales price for a home in east Tennessee was $147,000. Let's say you bought a house then and put 20% down, taking out a mortgage for $117,600. And, you made payments for 10 years, so now your balance would be around $98,000. Today, the median price of a home is $360,365 which is an increase of 145%! If you sell your house for that amount and net $338,000 after selling fees, then you now have $240,000 of equity cash.

Today, you may decide to buy a $500,000 house and put 20% down, or $100,000. While it's true that your house payment will be higher, you also are left with $140,000 to invest as it serves you and your family best. You could buy an investment property and rent it out. You could pay down debt. Buy a property on the beach. You could send your child to school, play the stock market, put it in your retirement account, etc.

Consider that higher home prices have positively affected existing homeowners, and you may be one of them. For an idea about what your home may be worth, contact your trusted real estate professional for a property review and market analysis. You may be surprised at the gold that you've accrued.

*This article was reprinted with permission from the Knoxville News Sentinel in 2024.

As of August 17th, the way you work with your real estate agent is changing. Back in March, the National Association of Realtors (NAR) and home sellers in a class-action lawsuit in Missouri agreed to settle litigation regarding agent commissions. Part of the settlement that takes effect on August 17th calls for a higher level of transparency regarding the costs of working with a real estate professional. Per the new NAR policy, Realtors will be required to enter into written agreements with buyers regarding their compensation for their services before being able to tour a home with a buyer.

It should be noted that Tennessee Realtors and their members have practiced buyer agency since 1996, but prior to the settlement, only 18 states had this practice incorporated into their policies. That means that Realtors and clients in Tennessee will experience fewer adjustments than their peers in other states. Realtors in Tennessee have, for decades, already disclosed the amount and method of compensation to both buyers and sellers if the Realtor used the forms provided by the state association.

The change that will be felt by buyers in Tennessee is that this disclosure and agreement is now required to be made in writing before Realtors can provide a tour of a property to a buyer. While this may seem to be a complication for buyers who may be just starting to shop for a home or who may be casually looking at property, it does preserve the choices that consumers have regarding real estate services and compensation. It also ensures that the buyer understands exactly what services will be provided, and for how much.

There are a couple kinds of agreements buyers may choose. One type is an agreement that establishes expected services and compensation between the buyer and the agent, and another establishes the services, compensation amount and confirms the agent as the buyer's representative in the transaction. Buyers will want to contact their own trusted real estate professional to find out which type of agreement may be best for them, depending on the type of service they need.

Another change resulting from the settlement is that buyers may need to pay their own agent for assistance. Before the settlement, it was quite common for the buyer's agent to be offered compensation by the seller and the listing agent, and this is still an allowable practice. Going forward, buyers can request that sellers pay a cooperating compensation to the buyer's agent, they may choose to pay their own agent, negotiate their agent's fee as part of their offer to purchase a home, or there may be opportunities to take advantage of seller concessions to assist with compensation for their representative.

If your agent has been learning, following, discussing and planning for the changes taking effect on August 17th, then they will be able to guide you through the changes.

*This article was reprinted with permission from the Knoxville News Sentinel August 11, 2024 Edition.

Wallace Real Estate is proud to announce that the Threlkeld Homes team has joined the company's Bearden Office.

Threlkeld Homes, led by Robert and Hailey Threlkeld, along with their team of agents and support professionals, is known throughout Knoxville for delivering exceptional real estate service with integrity, expertise, and deep community roots. Their decision to affiliate with Wallace underscores a shared commitment to tradition, service, and excellence in the Knoxville market.

"For nearly 90 years, Wallace has been a trusted partner for generations of families across East Tennessee," said Andrew McGranaghan, CEO of Wallace Real Estate. "The Threlkeld name carries that same sense of integrity and legacy within our community. We are honored to welcome Robert, Hailey, and their team to Wallace, and we look forward to supporting them with the strength of our resources, our brand, and our global network."

A lifelong Knoxville resident, Robert Threlkeld brings a proven track record of results paired with a relationship-driven approach to real estate. His team will be based out of Wallace's Bearden Office, located atop Bearden Hill.

"Our clients know that real estate is more than a transaction—it's about trust and relationships," said Robert Threlkeld. "In Wallace, we found a partner who reflects our values and shares our vision for serving Knoxville with the highest standards. This move allows us to continue providing the personal service our clients expect, while also offering them the expanded reach and resources of one of the most respected real estate companies in East Tennessee."

As a member of Leading Real Estate Companies of the World®, Wallace also brings global exposure and connections, ensuring Threlkeld Homes' clients benefit from an unmatched level of opportunity in both local and international markets.

Selecting the right commercial real estate (CRE) agent or brokerage is an important decision that can significantly impact your business's success. Whether you're buying, selling, or leasing commercial property, the right professional will guide you through the process with expertise and confidence.

Here are some key factors to consider when choosing the ideal CRE agent or brokerage for your needs:

1. Local Expertise

The commercial real estate market varies by area and region. This is why it's necessary to choose an agent or brokerage with deep local expertise. Your CRE professional should have a thorough understanding of the area's market trends, zoning laws, and community dynamics. This local knowledge enables them to provide insights that are essential for making informed decisions, whether you're investing in new properties or looking to sell.

2. Global Network

In addition to local expertise, consider working with a CRE agent or brokerage that is part of a global network. Access to a worldwide network of CRE professionals provides broader market insights and potential connections that can benefit your transaction. A brokerage with global reach can connect you with the right people, whether you're expanding your business to new markets or attracting international buyers for your property.

3. Market Knowledge

The commercial real estate market is complex and constantly evolving. Your agent or brokerage should be well-versed in current market conditions, including vacancy rates, rental rates, and market demand. This knowledge will help them provide accurate property valuations, negotiate favorable terms, and identify the best opportunities for your business.

4. Marketing Support

Effective marketing is crucial for selling or leasing commercial property. Choose an agent or brokerage that offers robust marketing support, including professional photography, virtual tours, targeted online advertising, and exposure through industry-specific channels. A strong marketing strategy can help your property stand out in a competitive market and attract the right buyers or tenants.

5. Reputation and Track Record

Research the reputation and track record of the agent or brokerage you're considering. Look for testimonials, case studies, or references from previous clients. A proven history of successful transactions, satisfied clients, and industry recognition can give you confidence in their ability to deliver results.

6. Personalized Service

Finally, choose a CRE agent or brokerage that offers personalized service tailored to your specific needs. Every commercial real estate transaction is unique, and you deserve a professional who takes the time to understand your business goals and works closely with you to achieve them.

Selecting the right commercial real estate agent or brokerage is essential for navigating the complexities of the CRE market. By focusing on local expertise, global connections, market knowledge, marketing support, a solid reputation, and personalized service, you can ensure that you're working with a professional who will help you achieve your business objectives.

Consider these tips as you make your choice, and you'll be well on your way to a successful commercial real estate transaction.

March is not just the month where winter starts to thaw and spring begins to bloom—it's also National Craft Month! Here in East Tennessee, we're fortunate to have a vibrant community that celebrates creativity in all its forms. Whether you're an experienced crafter or someone looking to dip your toes into the world of DIY, there's something for everyone to enjoy during this month-long celebration.

As your local real estate company, we believe in fostering a sense of community and connection. What better way to do that than by getting crafty together? Here are some exciting ways you can celebrate National Craft Month right here in East Tennessee:

1. Pottery Perfection at Mighty Mud: Channel your inner Demi Moore and Patrick Swayze from "Ghost" by trying your hand at pottery. Mighty Mud, located just off Central Ave near Downtown Knoxville, offers pottery classes for all skill levels. Whether you're a total beginner or a seasoned pro, you'll love getting your hands dirty and creating something truly unique.

2. Brush Up Your Skills at Board and Brush: Looking to add a rustic touch to your home decor? Head over to Board and Brush in Farragut for a fun-filled evening of crafting. From personalized wooden signs to farmhouse-inspired wall art, you'll leave feeling inspired and ready to tackle your next DIY project.

3. Host a Crafting Party at Home: Sometimes the best memories are made right in the comfort of your own home. Gather your friends, family, and neighbors for a crafting party extravaganza! Set up stations for different crafts, like jewelry making, candle pouring, or even homemade soap creation. With good company and endless creativity, you're guaranteed to have a blast.

4. Explore Local Craft Fairs: Visiting craft fairs are a great way to support local artisans and discover unique treasures! From handmade jewelry to intricately woven textiles, you'll find a wide array of crafts to admire and purchase. Keep an eye out for events happening in your community—you never know what hidden gems you might uncover!

5. Dive into DIY Workshops: Many local businesses and community centers offer DIY workshops and classes during National Craft Month. Whether you're interested in learning how to knit, crochet, or even brew your own beer, there's a workshop out there waiting for you. Check out your city's events calendar for upcoming opportunities to get crafty.

At Wallace Real Estate, we believe that creativity is the key to making a house feel like home. Whether you're decorating your living room with handmade accents or hosting a crafting party in your backyard, we're here to support you every step of the way. So grab your glue gun, dust off your knitting needles, and let's make this National Craft Month one to remember!

Happy crafting, East Tennessee!

Wallace Chief Operating Officer Claudia Stallings recently sat down with Don Dare, of Knoxvile's WATE 6 On Your Side, to share some insights about home sales in 2023 and what we can expect for the housing market moving forward.

We know much has changed over the past three years regarding home values. Stallings' report outlines the east Tennessee market through the third quarter of 2023, but she notes that "each home's value depends on location and condition." She advises consumers wanting to check on their property values to reach out to a Wallace Real Estate agent, who can offer a free evaluation that is property specific.

Visit https://wallacetn.com/our-agents/ and ask any of our agents for a Real Estate Review!

Wallace Real Estate is proud to partner with Knox TN Today to share stories, insights, and updates from across East Tennessee. Browse our weekly features below, and check back often for the latest articles.

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📅 Latest Articles

• Wallace Launches Young Professionals Network for Agents
  Published: September 25, 2025
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  Published: September 18, 2025
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  Published: July 24, 2025
• 'Leading with Luxury': Rhonda Thompson sets the standard
  Published: July 24, 2025
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  Published: July 17, 2025
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  Published: June 26, 2025
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  Published: June 12, 2025
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  Published: June 5, 2025
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  Published: May 29, 2025
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  Published: May 22, 2025
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  Published: May 20, 2025
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  Published: May 8, 2025
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  Published: May 1, 2025
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  Published: April 17, 2025
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  Published: April 15, 2025
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  Published: April 3, 2025
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  Published: April 1, 2025
• Wallace Real Estate Embraces AI to Support Clients
  Published: March 27, 2025
• Beth Stewart: Leading with Service, Knowledge & Heart for Community
  Published: March 20, 2025
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  Published: March 13, 2025
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  Published: March 5, 2025
• Will Roberts Selected for State Leadership Program
  Published: February 27, 2025
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  Published: February 20, 2025
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  Published: February 13, 2025
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  Published: February 11, 2025
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  Published: February 6, 2025
• Wallace Partners with Knoxville Smokies
  Published: January 30, 2025
• Sally Sparks Returns to Wallace Real Estate
  Published: January 28, 2025
• Wallace Real Estate Opens Downtown Knoxville Office
  Published: January 23, 2025
• Claudia Stallings Selected for LeadingRE Educational Workshop
  Published: January 16, 2025
• Choosing the Right Property Management Company
  Published: January 9, 2025
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  Published: January 2, 2025
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  Published: December 19, 2024
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  Published: November 26, 2024
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  Published: November 21, 2024

Wallace Real Estate is pleased to announce a strategic evolution in its leadership structure, reflecting the company's commitment to long-term growth, innovation, and service excellence.

Andrew McGranaghan has been named Chief Executive Officer. Andrew has served as Chief Development Officer, where he has played a pivotal role in guiding the company's growth, professional development initiatives, and strategic direction. As CEO, Andrew will take on a more visible role, leading Wallace Real Estate into its next chapter while continuing the legacy of trusted service that has defined the company since 1936.

Longtime company Controller David B. Stewart, CPA has been named Chief Financial Officer, assuming the title in addition to his current responsibilities. Dave brings decades of financial expertise and leadership to the executive team and has been instrumental in the day-to-day oversight of Wallace's Business Hub and Accounting Department for the past 20 years. His move into the CFO role represents a seamless shift, as he has already been performing many of the associated duties with skill and dedication.

Continuing in her role as Chief Operating Officer, Claudia Stallings remains a key member of the executive leadership team. Her operational leadership, industry insight, marketing direction and dedication to agent success will continue to be vital as Wallace strengthens its position as a market leader.

As part of this transition, Jim Wallace and George Wallace, who have served as CFO and CEO respectively, will now assume the titles of Treasurer and Chairman of the Advisory Board. As co-owners and longtime leaders of the company, Jim and George will remain involved in an advisory and supportive capacity. Their influence and experience will continue to help shape the company's strategic direction as trusted stewards of its legacy.

"These refinements reflect the strength and depth of our leadership team, clarifying the roles of our existing leaders. We believe Wallace Real Estate is positioned for continued success," said Claudia Stallings, COO. "We are incredibly grateful to Jim and George for their decades of leadership and are pleased that Andrew and Dave will continue to shape our future."

The role adjustment underscores Wallace's dedication to excellence, innovation, and trust, which are values that have been at the core of the company's identity for 90 years.

Wallace Real Estate celebrates national accolades and the 88th anniversary of its founding on April 1st, 2024, one year after relaunching as an independent brokerage.

Locally owned Wallace Real Estate has been named a member of RISMedia's 2024 Power Broker Top 1,000 Real Estate Firms, landing in the top third of the prestigious national list with a No. 258 ranking in Residential Units Sold and No. 311 in Residential Sales Volume.

Wallace Real Estate also was named to the RealTrends national Top 500 Verified Brokerages list, landing at No. 274 and No. 330 for sides (a party to a transaction) and volume (total dollar amount sold), respectively.

On both lists, Wallace is the top-ranking independent firm from the East Tennessee area.

"These external accolades underscore the commitment, dedication and creativity of our agents and team, and we couldn't be happier to receive the news in time to celebrate 88 years of Wallace Real Estate in East Tennessee," CEO George Wallace said. "We have put customers and ethics first since our founding in 1936; our success and longevity should be credited to those customers and the trust they place in us during pivotal life moments."

Wallace also recently won "Best Website Design" from Leading Real Estate Companies of the World at its annual global conference. The award recognized the firm's efforts in designing a user-first online experience. While Wallace is locally based, it has a global presence as a member of Leading Real Estate Companies of the World® and Luxury Portfolio International®.

"Our innovations were carried out with our customers in mind, and our systems of marketing and support propel our agents to reward customers with the best experience, value and results," Wallace said.

To commemorate these significant milestones, Wallace is kicking off a local celebration called "Wallace Week" to provide its agents a variety of fun events throughout the week of April 1-5, partnering with local companies to offer engagement and volunteer opportunities.

A year ago on April 1, Wallace relaunched as the largest independent real estate firm headquartered in East Tennessee to provide more flexibility, support and opportunities for agents in a real estate market that has undergone rapid growth and changes.

For more information about Wallace Real Estate, its anniversary celebrations and community involvement, visit wallacetn.com or follow the firm on social media @WeAreWallaceRE.

About Wallace

Wallace Real Estate has been trusted in East Tennessee since 1936. An industry leader with six area offices and nearly 500 sales associates, Wallace is a leading residential and commercial real estate firm in East Tennessee. Selling approximately 4,000 properties each year, the firm owes a great deal of its success to the individuals who laid its foundation: Charles A. Wallace and his father, James A. Wallace, Sr. Since 1936, three generations of the Wallace family have provided buyers and sellers in the region — including Knox, Anderson, Blount, Loudon, Roane and Sevier counties — with a real estate experience that remains unmatched.

The company sets itself apart with industry-leading training and agent development, and always puts integrity first. A one-stop shop, Wallace Real Estate also includes a relocation department, and property management and rentals, as well as mortgage and financing with CMG Financial mortgage loan specialists available in every office. Clients can enjoy convenient closing services through Melrose Title, a locally owned, attorney-driven title company, as well as insurance and home warranty solutions with Dogwood Insurance and 2-10 Home Buyers Warranty. As Wallace celebrates its 88th anniversary this year, it continues to be a reliable authority in the industry.

Wallace Real Estate is excited to bring together expert sales professionals from brokerages within the Leading Real Estate Companies of the World,® for a special panel discussion on October 24th. LeadingRE is a global community of real estate companies awarded membership based on rigorous standards for service and performance.

Real estate is an industry with over two million licensees and 100,000 brokerages characterized by wildly inconsistent service delivery and customer experience. Yet membership in Leading Real Estate Companies of the World® is awarded only to select, market-leading companies that have demonstrated excellence in service delivery and results.

Joining the panel will be agents from Wallace Real Estate, as well as Howard Hanna Rand Realty, Lamacchia Realty, and Nashville-based Parks Real Estate.

Howard Hanna Rand Realty - Established in 1957 by Howard and Anne Freyvogel Hanna, with a single office in Pittsburgh, the family-owned Howard Hanna Real Estate Services brokerage has grown to be the top real estate company in the markets it serves. Now Howard Hanna Rand Realty, the company is represented on the panel by top agent Kathleen Berg.

Kathleen (Kathy) Berg provides outstanding realty services to the Connecticut communities of Danbury, Newtown, Ridgefield, Redding, Wilton, New Fairfield, Southbury, and Brookfield, as well as Fairfield County, and New Milford.

As a Director at the Northern Fairfield Board of Realtors, she brings in-depth insight into real estate laws, ethics, and market trends.

Licensed since 2002, she is a certified Top Producer who has a track record of success. Her detail oriented approach ensures nothing is left to chance and she leverages her vast network of connections to attract buyers for each property she lists. When not at the closing table, Kathleen Berg enjoys spending time with her two rescue dogs reading or streaming movies. She is in the process of learning Bridge and even has some Master Points to her name.

Lamacchia Realty - Lamacchia Realty is a full-service, value-based Real Estate brokerage in Massachusetts, New Hampshire, Rhode Island, Connecticut, Maine, and Florida. Representing Lamacchia on the panel is Amy Bisson.

Amy has built her business on many things: honesty, integrity, and most importantly, trust. It is crucial to her that she builds trust with her clients and that they feel comfortable throughout the entire buying or selling process, whether it's the first meeting, at the closing table, or anywhere in between.

She recognizes the immense importance of building relationships with her clients and truly enjoys getting to know each and every person she works with.

Amy is a highly respected and well-known REALTOR® in the Industry, and especially in Central Massachusetts – she was a RACM REALTORS® Choice nominee in 2018, 2019, and 2020, a RACM Top Producer in 2018, 2019, 2020, & 2021 and at her previous company, was #1 in sales in 2019 and #1 in volume in 2019 and 2020.

In 2021, she has been recognized as a top 10 producer within Lamacchia Realty-Worcester. Amy grew up in Sterling and now lives in Holden.

Parks Real Estate - In business for more than 45 years, Parks has been consistently recognized for excellence in the industry. Locally owned and committed to Middle Tennessee, the brokerage invests in the communities it serves. With a commitment to the highest ethical standards, Parks advocates for its clients and guides them through real estate transactions with extraordinary service, uncompromising ethics, and exceptional knowledge.

Representing Parks on the panel is Wendy Monday, a Nashville real estate veteran who is consistently ranked in the top 3% of top producers in the market.

She has a true passion for the business and over 14 years of experience selling Nashville.

She and her husband JT and their son Wulf live in Germantown in a historic 1880's home. They spent 18 months completing a total renovation on the home, and learned a lot in the process.

They own several residential and commercial rental properties including a log cabin west of Nashville in Kingston Springs.

Wendy's favorite things include starting more renovation projects and visiting her second favorite city, Amsterdam.

Wallace Real Estate - Wallace Real Estate has been earning the trust of homebuyers and sellers since 1936. The family-owned brokerage began with one office on Gay Street in Downtown Knoxville, and has since grown to seven offices around East Tennessee and nearly 500 agents.

Representing Wallace Real Estate on the panel will be Jennifer Montgomery (Wallace Bearden Office) and Debbie Yankey (Wallace Farragut Office).

Jennifer Montgomery has been a local real estate agent for twenty years.

Her work began with Wallace Real Estate after graduating from the University of Tennessee with a Master of Science in Urban and Regional Planning.

She is a Board Member and Chairperson of the Vintage Properties Committee at Knox Heritage, Inc.

She has lived in a variety of downtown neighborhoods over many years.

She now lives on a small farm that she shares with her dogs and horses. As an equestrian, she practices dressage and drives for pleasure.

Jennifer is foremost focused on quality in her business with residential and commercial clients and customers.

Much of her work has been in historic neighborhoods and districts. She also has excellent experience with farm property. She loves history and horses and incorporates her knowledge into her work.

With more than 28 years of experience in the real estate industry, Debbie Yankey has consistently been one of the top producers in her area. She has a track record of success in residential real estate and has earned a reputation for delivering results for her clients.

Debbie's success is built on her ability to connect with clients and understand their unique needs and goals. She has a deep understanding of the local market and is constantly staying up to date on the latest trends and developments in the industry.

Her extensive network of contacts and resources, including top-tier marketing and advertising strategies, gives her clients a competitive edge when buying or selling property.

Debbie resides in Farragut, where she lives an active lifestyle in the community. A few of her accomplishments include #1 Company-Wide, International President's Elite (top 2% in the industry), and in 2020 #1 Global Luxury Award with the most $1M+ homes sold.

Wallace Real Estate COO Claudia Stallings recently sat down with WATE's Veronica Ogbe on the Living East Tennessee show to chat about the local real estate market. Check out her interview below, and scroll to read more of her insights about what we saw in 2023, and what's to come for East Tennessee real estate in 2024!

What happened to the market in 2023?

Claudia Stallings, Wallace Real Estate COO: The total number of homes that entered the market for sale was down over previous years, likely due to rising interest rates, and sellers deciding to hold on to their current lower rates and stay put rather than making a move. Likewise, the number of homes that buyers put under contract and ultimately purchased was down over previous years due to three things: 1) fewer homes available for sale; 2) higher sales prices; and 3) the higher cost of borrowing due to interest rates.

The thing is, that we've come off of such an unusual high sales period during and immediately following Covid, that 2023 feels like it was a slow year, even though statistics show that sales this year were similar to those we saw in 2016, 2017 and 2018, three years when we felt like the market was pretty balanced.

How long might it take your home to sell in 2024?

Claudia: Homes certainly sold faster in 2021 and 2022, however, this year, our area's average time on the market was 34 days. The way those days are calculated in our Multiple Listing Service is from the time a home is placed on the market to the time it closes. And, for a smooth closing without any hiccups or delays, it can take between 20-30 days for the home inspections, appraisals, title work and mortgage information to be processed, which means a home may only be on the market for a week before a buyer and seller come to an agreement in the form of a contract.

The first week or two are the most important for a seller. If a home is priced fairly according to today's market, then any buyer who is actively shopping for a similar home will likely want to take a look. That means that the first few days will be the busiest for showings and thus, increased buyer competition for the home. However, if a home is overpriced and is rejected by those who are currently in the market, then the only audience it may have will be for buyers who are just beginning their search and it may lengthen the time a home is for sale.

What about sellers who might be wondering if selling now will cause them to lose money?

Claudia: While the market price of a home varies by location, condition, and size, in 2023, our area set record highs for the median sales price, which is around $340,000. In general, if you purchased your home earlier this year or in any previous year, you are likely to find that you can sell it for more than you paid for it. However, it's important to know that, compared to 2020, 2021 and the first half of 2022, that prices increased much faster than we are seeing today, as higher interest rates have more recently slowed demand. So, while we have seen annual increases since 2020 in the 15-20 percent range each year, 2023 saw a 6 percent increase. If properly priced, homes in our area are selling for 98-99 percent of their asking price, and it's still true that some areas are seeing homes sell for more than asking price.

Should you wait for home prices to go down before you buy?

Claudia: It is predicted that our area will see a price increase of around 7 percent for the Knoxville market by the end of 2024. So, while interest rates have recently been going down and the prediction is that they will continue to fall, buyers are likely to pay more for a house the longer they wait. Season also plays into this decision. During the winter, fewer homes are available for sale and fewer buyers are actively searching for homes, as everyone waits for the "spring housing market." That means that buyers have both fewer choices, but they also have less competition for homes right now so prices may be relatively stable. In the spring and into the summer, they will have more selection, but warmer weather also brings out more buyer competition and demand causes price increases.

What are some predictions for the 2024 market?

Claudia: A lot of buyers who were in the market pushed pause when interest rates kicked up in 2022 and 2023. That means that there are buyers out there who want a house, but who have been dormant. In other words, there is pent-up demand. If interest rates go down, those buyers will likely become active again. Because we still expect to have more demand than supply in our area, we are anticipating that will only cause prices to rise.

Housing affordability is a concern in our area, and homes listed below our median price will likely sell quickly. I am hoping that, if we get relief in interest rates, that more sellers will opt to list their homes for sale. As for the luxury market, it has remained relatively stable, as our area is such a beautiful, desirable place to live.

I think sellers will need to be reasonable with their pricing, and that buyers may have a little more ability to negotiate price and repairs, depending on the situation. But, this is what happens when we begin to enter a more balanced market, which is where we are headed.

At Wallace Real Estate, our agents are always looking at market movement and trends, so to have insider knowledge on how your home may perform in the market if you list it, or to get guidance on how and when to buy, it's best to reach out to one of our professionals. Monitoring the market by watching what's for sale and what's being sold is also a good way to understand what's happening, and anyone can do that at WallaceTN.com.

Wallace Real Estate, East Tennessee's leading independent real estate brokerage, is proud to announce the opening of its newest office: Wallace Upper Cumberland, located at 80 Miller Avenue in Crossville (Suite 104). This new location strengthens the company's presence across the region and affirms its commitment to serving clients throughout the Upper Cumberland, including communities across Cumberland, Bledsoe, Fentress, Putnam, and White Counties.

The office will be led by Victoria Eberhart, a top-producing agent who brings both deep local knowledge and broad perspective to her new role as Principal Broker.

Born in West Palm Beach, Florida and raised in Crossville, Eberhart began her professional career in banking, but a chance conversation sparked a career change to real estate. Since then, she has consistently ranked among the top performers at Wallace's West Office, with $9–10 million in annual transactions and a reputation for clear communication, sharp negotiating skills, and a calm, educational approach that empowers her clients.

"I believe that real estate should be rooted in trust and guided by care," said Victoria Eberhart, Principal Broker of Wallace Upper Cumberland. "Whether someone is buying their first home or downsizing for retirement, my job is to make sure they feel supported, informed, and confident every step of the way."

Wallace Real Estate has been a trusted name in East Tennessee since 1936. With this new location, Wallace expands its personalized service and innovative support systems to one of the state's most scenic and welcoming regions.

"Opening in Crossville is a natural extension of our mission," said George Wallace, CEO and Partner at Wallace Real Estate. "This community reflects so many of the values we hold dear—trust, connection, and service. We're thrilled to grow here and look forward to being part of the fabric of the Upper Cumberland."

The Crossville office is more than a convenient location—it's a hub for community engagement and known for its blend of small-town charm and emerging growth.

"There's a real sense of belonging here," said Eberhart. "People often say Crossville feels like home, and once you've lived here a little while, you'll understand exactly what they mean."

A Grand Opening Reception and Ribbon Cutting was held on Tuesday, August 20, from 4:00 to 6:00 p.m. CT, and was an opportunity for the community, Crossville Chamber of Commerce and real estate colleagues to celebrate this new venture.

As a member of Leading Real Estate Companies of the World, Wallace Real Estate combines deep local roots with a global referral network—offering clients trusted service not just in Crossville, but wherever life takes them.

For more information, visit https://wallaceuc.com/.

Wallace Real Estate, East Tennessee's leading independent real estate brokerage, is proud to announce the opening of its newest office: Wallace Twin Lakes, located at 105 N. A Street in Lenoir City, Tennessee. This new location, named for its nearness to Fort Loudoun and Tellico Lakes, strengthens the company's presence in the Tennessee River Valley and affirms its commitment to serving clients throughout Loudon County and surrounding areas.

The office will be led by Tyler Letner, a proud East Tennessee native who has built his real estate career on the principles of integrity, transparency, and service. In addition to his time spent as a Realtor®, Letner has extensive experience in financial management, strategic planning and high-level negotiations. This background enables him to lead his office with professionalism, precision, and a data-driven mindset.

"As I take on this new role, I am excited to build a culture of collaboration, excellence, and client-first service," said Letner, Principal Broker for Wallace Twin Lakes. "This reflects both my own personal values and Wallace Real Estate's legacy of trust."

"This is an exciting time for Wallace Real Estate, as we celebrate our brokerage's 90th year in 2026," said Wallace CEO Andrew McGranaghan. "Since our founding, Wallace has earned the trust of generations of home buyers and sellers. With this new location, we expand our personalized service and innovative support systems into one of the region's most popular destinations for those relocating to the area."

A Grand Opening Ribbon Cutting was held on February 5th, offering the community, as well as Wallace's partner The Loudon County Chamber, and local real estate professionals the opportunity to celebrate the launch of the new office.

As a member of Leading Real Estate Companies of the World, Wallace Real Estate combines deep local roots with a global referral network, which offers clients trusted service around East Tennessee, and beyond. For more information, visit https://wallacetwinlakes.com/.

Wallace Real Estate has formed a new real estate alliance model with Bender Realty to extend support and benefits to agents of the family-owned firm based in Cleveland, Tennessee.

"Bender Realty, Powered by Wallace" will bring additional resources such as marketing, training, technology, relocation and growth plans to Bender Realty, a trusted name in the Cleveland market.

"We are delighted to join forces with Bender Realty and are eager to create opportunities together in line with our shared values," said Andrew McGranaghan, chief development officer for Wallace Real Estate. "Wallace has enjoyed tremendous growth thanks to the loyalty of our community and customers, and we welcome the opportunity to provide a model that does the same for other local real estate firms."

Founded in Knoxville in 1936, Wallace Real Estate has experienced steady growth and in 2023 declared itself an independent firm. The new Powered by Wallace concept is designed to assist community-owned firms and help their growth trajectory.

The partnership allows Bender Realty agents to provide their buyers and sellers with the same tools, service and access that Wallace Real Estate offers to its customers.

Bender Realty has served Cleveland, Tennessee, and the surrounding areas of Bradley County and beyond since 1969. The firm credits its longevity to providing outstanding customer service through sales and property management for both residential and commercial sectors.

"We highly value our company's local reputation, so we are very selective in choosing partners," said Brian Workman, co-owner and broker of Bender Realty. "Wallace Real Estate is the perfect choice to help take us into the future, with aligned core values and a shared goal to do right by our agents, our clients and our community."

Both Wallace Real Estate and Bender Realty are members of the prestigious Leading Real Estate Companies of the World® network, a distinction limited to the top locally owned, independent companies. This membership underscores both brokerages' commitment to excellence and their standing as trusted leaders in the real estate industry.

"This alliance represents a significant step forward in our mission to provide exceptional real estate services across East Tennessee," said Claudia Stallings, chief operating officer for Wallace Real Estate. "Bender Realty's strong local presence and respected reputation, combined with our comprehensive support systems, will enhance the capabilities of both companies, enabling us to deliver even greater value to our agents and clients. By continually seeking innovative partnerships and expanding our service area, we are positioning ourselves and our agents for a prosperous future.

"We believe that embracing change and fostering collaboration is key to remaining a leader in the ever-evolving real estate industry."

For more information about Powered by Wallace, contact Andrew McGranaghan at andrew@wallacetn.com.

About Wallace Real Estate

Wallace Real Estate, trusted since 1936, is a leading real estate firm in East Tennessee. Known for its full-service approach, the firm provides its agents with the latest technology, comprehensive training, and marketing support to ensure the highest level of service and success. Through comprehensive training, technology and marketing support, Wallace Real Estate bolsters the careers of more than 425 agents, ensuring they have the tools needed to succeed in the competitive real estate market.

About Bender Realty

Since 1969, Bender Realty has been serving Cleveland, Tennessee, Bradley County, and other surrounding areas. A full-service company with both Sales and Property Management in Residential and Commercial, Bender prides itself in providing outstanding customer service, all the time, every time.

CROSSVILLE, Tenn. — Wallace Real Estate's Upper Cumberland office is helping agents plan ahead with a free online workshop, Start 2026 Strong, on Wednesday, November 12 at 11:00 a.m. CT.

The session will be hosted by Victoria Eberhart, Principal Broker of Wallace Upper Cumberland, and Claudia Stallings, Chief Operating Officer of Wallace Real Estate.

Stallings, a respected real estate industry expert with more than two decades of experience, will share how agents can use their current production numbers to project future results and build the habits needed to reach their 2026 goals.

"Statistics show that the average real estate transaction takes about 100 days from the first client conversation to the closing table," said Stallings. "That means the business agents generate now will shape their success in the first quarter of next year."

Eberhart added, "Our goal is to help agents across the region enter 2026 with a clear plan and renewed confidence. Claudia's insights make complex business planning practical and achievable."

Stallings, who oversees Wallace's marketing, training, and technology initiatives, is a regular contributor to Knoxville News-Sentinel, RIS Media, and Inman News. She also provides local market commentary on TV and radio and is a sought-after speaker at national real estate conferences.

The webinar is open to all real estate professionals.

Click here to register online.

Wallace Real Estate, East Tennessee's leading independent real estate brokerage, has opened its newest office in downtown Knoxville. The expansion marks a significant step forward as Wallace continues to grow and evolve to meet the needs of clients throughout the region.

The Wallace Real Estate Downtown office, located in the heart of the city at 625 S. Gay Street #205, is more than just a new space – it represents a homecoming. Wallace Real Estate began with just one office, first in the Journal Arcade Building before moving to the Valley Fidelity Bank Building on Gay Street. This move symbolizes a return to the company's roots while celebrating the vibrant growth and progress of the region.

"Downtown Knoxville is a thriving hub for business, tourism and community life," said George Wallace, CEO and partner of Wallace Real Estate. "It's exciting to return to the area that was our original home while also looking ahead to the future of real estate in East Tennessee. This new office is a reflection of our commitment to serving clients wherever they are and being part of the incredible momentum in downtown Knoxville."

The new office will serve clients not only in the downtown area, but also across the region, providing the same exceptional service Wallace has been known for since 1936. The office will be led by Principal Broker Jennifer Montgomery, a deeply rooted community leader known for her Local Lore series, which celebrates the untold stories and history of Knoxville's neighborhoods and landmarks.

"Downtown Knoxville has seen tremendous change over the years, transforming into a bustling and vibrant community," Montgomery said. "I'm honored to lead this new office and to bring Wallace's unique combination of local expertise and regional coverage to this area. Our roots here run deep, and we're excited to be part of downtown's continuing story."

Montgomery is recruiting agents for the new office, which offers a unique opportunity for qualified agents to capitalize on the prime location downtown and join a winning team at Wallace.

As the leading independent brokerage in East Tennessee, Wallace Real Estate is uniquely positioned to adopt a nimble approach and implement creative growth strategies. The new office reflects the company's mission to innovate and evolve while staying true to its legacy of trust, excellence and community connection.

The downtown Knoxville office was open for business in January 2025, with a ribbon cutting on Jan. 22nd to mark the occasion.

At Wallace Real Estate, we are committed to the communities we serve, and we're thrilled to be a proud sponsor of the Knoxville Museum of Art's (KMA) 30th Annual Holiday Homes Tour. As an organization rooted in East Tennessee, we value the rich culture and creativity that KMA brings to our region. This year's tour is a beautiful blend of tradition and art, and it offers a unique way to celebrate the season while supporting the arts in our community.

The KMA Holiday Homes Tour: A Treasured Tradition

For three decades, the Holiday Homes Tour, organized by The Guild of the Knoxville Museum of Art, has showcased some of Knoxville's most exquisite homes decked out in their holiday finest. This exclusive tour, open to KMA members only, is more than a festive day of home viewing; it's an event that directly supports the KMA's mission to bring outstanding art and education to our community.

This year's day tour and luncheon will be held at the Cherokee Country Club on December 13, offering attendees an opportunity to experience architectural beauty, unique décor, and a vibrant holiday atmosphere.

Celebrating The Guild of the Knoxville Museum of Art

The Guild, founded in 1995, is an essential part of KMA's efforts to promote art and cultural engagement in East Tennessee. Guild members—more than 250 households—participate in exclusive educational and social events, playing a vital role in sustaining the museum's programs and exhibitions. By organizing the Holiday Homes Tour and other events, the Guild helps ensure that the museum can continue offering world-class exhibitions and enriching educational initiatives.

Consider Becoming a KMA Member

While this year's Holiday Homes Tour is open only to KMA members, we encourage you to consider joining the Knoxville Museum of Art if you're not yet a member. Membership not only supports KMA's exhibitions, education programs, and preservation efforts, but it also provides exclusive benefits, including invitations to special events like the Holiday Homes Tour, early access to ticket sales, and discounts on museum programs. With a community-focused mission, the KMA helps keep the arts thriving in Knoxville and beyond.

Wallace Real Estate is honored to support KMA's efforts to bring beauty, inspiration, and cultural enrichment to East Tennessee. We hope to see more community members joining us in supporting the arts by becoming part of the KMA family!

For more information on how to become a member of the Knoxville Museum of Art, visit their website here.

Let's celebrate art, heritage, and our community together!

Wallace Real Estate is pleased to announce that Carli Whaley has been named the company's new Learning Coordinator, reinforcing Wallace's long-standing commitment to agent education, professional development, and industry leadership.

A native East Tennessean, Whaley brings nearly a decade of real estate experience to the role, along with a well-rounded perspective on the full transaction process. She began her real estate career in 2016 after several years in property and casualty insurance and also holds a mortgage loan officer's license. This combination allows her to understand transactions from multiple angles, including financing, risk management, and contract strategy.

Whaley is a full-time real estate broker who has successfully guided hundreds of residential and commercial transactions, including sales, purchases, investments, and leasing. She currently serves as the 2026 Vice President of the Women's Council of Realtors Knoxville and earned her Graduate, REALTOR® Institute (GRI) designation. She is also a biochemistry graduate of Maryville College, and previously worked as a histologist at the University of Tennessee Medical Center.

In her new role, Whaley will help coordinate and support Wallace's ongoing learning initiatives, working closely with leadership to ensure agents have access to relevant education, tools, and resources to thrive in a rapidly evolving real estate landscape.

"Training and professional development are not optional at Wallace...they are core to who we are," said Andrew McGranaghan, Chief Executive Officer at Wallace Real Estate. "We're excited to have Carli step into this role. Her depth of industry knowledge, leadership experience, and passion for helping others grow make her a natural fit to help guide these efforts and support our agents at every stage of their careers."

Known for her practical, empowering approach, Whaley is passionate about helping others understand the 'why' behind the process, whether she's working with clients or supporting fellow agents. She believes informed professionals make confident decisions and better serve their clients.

Outside of real estate, Whaley is married and the proud mother of three daughters. She enjoys reading, painting, baking, and playing Fortnite with her kids, bringing the same energy, curiosity, and sense of humor to her professional life that she does at home.

With Whaley's new position, Wallace Real Estate continues to invest in its people, ensuring agents are supported by strong leadership, meaningful education, and a culture rooted in growth, trust, and long-term success.

Knoxville, TN, July 22, 2024 – Wallace Real Estate is excited to announce that renowned national speaker and real estate expert Zan Monroe will be hosting an exclusive training session for Wallace agents. This event is part of Wallace's ongoing commitment to providing exceptional professional development opportunities for its affiliated sales professionals.

"Having Zan Monroe join us to lead this two-day training intensive is a testament to our dedication to fostering continuous learning and excellence among our agents," said Andrew McGranaghan, Chief Development Officer at Wallace Real Estate. "We believe that investing in our agents' education translates directly into better service and outcomes for our clients."

Monroe, a sought-after speaker and author, brings a wealth of knowledge and experience in real estate, sales, and personal development. His dynamic approach and practical insights have empowered countless real estate professionals to elevate their performance and achieve their goals.

"Our agents are our greatest asset, and we are committed to providing them with the tools and training they need to succeed," said McGranaghan. "With a full-time professional development trainer on staff, regular training events, and our comprehensive Launch program, Wallace Real Estate is dedicated to ensuring our agents are among the best in the industry."

The Launch program at Wallace Real Estate is designed to support both new and experienced agents in taking their business to new heights. Covering a wide range of topics from marketing strategies to customer relationship management, the program provides a solid foundation for agents to build successful careers.

"For our clients, working with a Wallace agent means partnering with a highly trained, skilled, and dedicated professional," added McGranaghan. "Our commitment to continuous professional development ensures that our agents are well-versed in the latest market trends, negotiation techniques, and legal requirements, providing top-notch service every step of the way."

The training session with Zan Monroe, which is scheduled to take place on July 23 & 24, underscores Wallace Real Estate's mission to support its agents' professional growth and, in turn, deliver exceptional service to its clients.

For more information about Wallace Real Estate and its commitment to training and professional development, please visit https://wallacetn.com/company/careers/ or contact Andrew McGranaghan.

About Wallace Real Estate

Wallace Real Estate is a leading real estate brokerage in East Tennessee, dedicated to providing exceptional service to buyers and sellers. With a focus on continuous learning and professional development, Wallace agents are among the most knowledgeable and skilled in the industry. Whether you're looking to buy, sell, or invest in real estate, Wallace Real Estate is your trusted partner for success.

MARYVILLE, Tenn. (March 12, 2026) — Wallace Real Estate is excited to announce that Wallace-Nelson, formerly Coldwell Banker Nelson Realtors, will join the Wallace family, strengthening Wallace's presence in Blount County and expanding the resources available to agents and clients throughout the region.

Led by Broker/Owner Tia Cooper, Wallace-Nelson is a top-producing real estate company with more than 40 years of service in Blount County and the foothills of the Great Smoky Mountains. The office is home to 43 agents known for deep local expertise, strong client relationships, and a commitment to staying informed on market trends and community growth.

"We're proud to welcome Wallace-Nelson as a partnered office," said Andrew McGranaghan, CEO of Wallace Real Estate. "This is a group with an exceptional reputation in Blount, Knox and Sevier Counties. By pairing their local leadership and client-first culture with the support systems Wallace provides, we're creating an even stronger platform for agents to thrive and for clients to be served at the highest level."

As a partnered office, Wallace-Nelson will receive expanded operational and marketing support, including resources from the Wallace Business Hub, in-house Marketing, and additional tools designed to help agents streamline their businesses and elevate the client experience. The office will also join Leading Real Estate Companies of the World (LeadingRE), a global network of top-performing independent brokerages that enhances referral connectivity and strengthens service for relocating buyers and sellers.

"Our agents have built trusted relationships in this community for decades, and that doesn't change," said Tia Cooper, Broker/Owner of Wallace-Nelson. "What changes is the level of support behind the scenes. We're gaining powerful tools, marketing resources, and a global network, while continuing to serve Blount County and the surrounding areas with the same local knowledge and personal care our clients expect."

Located at 215 Foothills Mall Dr., Maryville, TN 37801, Wallace-Nelson is uniquely positioned to serve clients seeking the balance of Foothills living and convenient access to urban amenities. With continued local decision-making and the strength of Wallace support, the partnered office is poised to deepen client relationships and expand its reach across East Tennessee.

About Wallace-Nelson

Wallace-Nelson Real Estate is a locally owned and operated real estate office serving Maryville, Blount County, and surrounding East Tennessee communities. Affiliated with the Wallace Real Estate family of companies, the firm combines deep local roots with the strength of a trusted regional brand. Located at 215 Foothills Mall Drive in Maryville, Wallace-Nelson is proud to provide personalized service, market expertise, and a strong commitment to the communities it serves.

About Wallace Real Estate

Wallace Real Estate is East Tennessee's leading independent real estate brokerage, serving buyers, sellers, and communities across the region. Wallace supports agents with dedicated business resources, in-house marketing expertise, and a commitment to education, innovation, and trusted guidance.

About Leading Real Estate Companies of the World (LeadingRE)

Leading Real Estate Companies of the World is a global network of market-leading independent real estate firms, providing referral connections, professional resources, and worldwide reach.

Wallace Real Estate is thrilled to support the Knoxville Challenger, a USTA Pro Circuit Event set to take place November 3-10, 2024, at the Goodfriend Tennis Center. This highly anticipated event features rising professional tennis stars competing for $80,000 in prize money, and earning valuable ATP points to advance their careers. The Knoxville Challenger has a track record of showcasing the next wave of tennis talent, bringing excitement to both new and seasoned fans of the game.

More than just an opportunity to watch top-tier tennis, the event is a way to inspire the local community and support an important cause—the McNabb Center, in honor of Harry W. & Sarah Stowers. Tickets are available at the door for just $20 per day, with free admission for kids 12 and under.

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A Perfect Match: How a Realtor is Like a Tennis Coach

Much like a tennis coach guiding an athlete toward success, a great real estate professional helps you reach your real estate goals. Here's how:

• Strategy and Expertise: Just as a tennis coach devises strategies based on years of experience, a Realtor knows the ins and outs of the market. Whether you're buying your first home or selling your property, their expertise helps you navigate uncertainty and position yourself for success.

• Support: A coach is always by your side, offering advice and encouragement, just like your Wallace agent, who is there to support you through every step of the transaction, ensuring you stay focused and confident.

• Tailored Guidance: Every player has a unique style, and a coach adapts to their needs. Similarly, your WRE agent tailors their approach to match your personal real estate goals, whether you're looking for a primary home, an investment property, or your dream retirement spot.

Just like the stars of the Knoxville Challenger have a team supporting their path to greatness, you can count on Wallace Real Estate to guide you through your real estate journey.

As we cheer on the future champions of tennis, we remain committed to serving the East Tennessee community with trust, experience, and a winning game plan!

Wallace Real Estate is proud to share that our Chief Executive Officer and partner, Andrew McGranaghan, is a candidate for First Vice President of the East Tennessee REALTORS® Association (ETNR). With voting set to take place September 16–18, Andrew is seeking to bring thoughtful, forward-thinking leadership to the association at a pivotal time in the industry.

Andrew currently serves as a general director on the ETNR Board of Directors and has been actively involved with the organization through several key committees and task forces, including Public Policy, Governmental Affairs, Grievance, and Election Candidate Task Forces. At the state level, he has served multiple years as a Tennessee REALTORS® Director and is a current member of the TR Public Policy Committee. He is also a consistent RPAC major investor.

"Andrew brings a unique blend of strategic vision, genuine care for people, and deep knowledge of the real estate industry," said Wallace Chairman of the Board George Wallace. "His commitment to growth—both for our agents and the industry as a whole—makes him an ideal candidate for this leadership role."

At Wallace, Andrew has helped lead the company through significant evolution and innovation. He spearheaded the development of internal training platforms, helped launch Wallace's successful relocation and referral programs, and played a central role in shaping the company's long-term growth strategy. His leadership philosophy centers on listening first, then moving forward with clarity and purpose.

Beth Stewart, Principal Broker of Wallace's West Office and a respected voice within East Tennessee REALTORS®, also voiced her support:

"Andrew is a true leader – genuine, thoughtful, and always guided by what's right. He listens, he adapts, and he shows up for people when it matters most. That's exactly the kind of leadership we need as our First Vice President."

In addition to his real estate leadership, Andrew is an active member of the broader Knoxville community. He is a graduate of Leadership Knoxville, a mentor with the Knoxville Fellows Program, a United Way Ambassador, and supporter of Susannah's House, which supports mothers in recovery.

"I believe we're at a crossroads in real estate—locally and nationally—that demands strong, creative leadership," Andrew said. "It's about collaboration, advocacy, and lifting up every REALTOR® in our association. I believe whole heartedly in the value of the Realtor, and it's my goal to make sure our Association promotes and showcases that value to the public."

Wallace is proud to support Andrew McGranaghan's candidacy and encourages all ETNR members to make their voice heard.

🗳️ Election Dates: September 16–18
📍 East Tennessee REALTORS® members will receive voting instructions via email.

Wallace Real Estate recently welcomed a nationally respected instructor to Knoxville for an immersive Ninja Selling Installation, reinforcing the company's long-standing commitment to agent education and professional excellence.

Led by Peter Parnegg, a highly regarded trainer within the Ninja Selling organization founded by Larry Kendall, the four-day Installation brought together 50 agents for daily, in-depth training sessions held Monday through Thursday at Bridgewater.

Throughout the week, agents explored the core principles of the Ninja Selling process, focusing on mindset, systems, communication, and intentional relationship-building. Rather than emphasizing traditional sales tactics, the program equips agents to serve clients at a higher level through clarity, confidence, and trust.

"We invest in training like Ninja Selling because it aligns perfectly with who we are as a company," said Andrew McGranaghan, CEO of Wallace Real Estate. "Ninja Selling isn't really about selling, but it's actually about relationships. We consistently see how this program helps our agents create more meaningful connections with their clients, which ultimately leads to stronger businesses and better client experiences."

Wallace Real Estate extends sincere thanks to the sponsors who helped make this impactful week possible, including CMG Financial, Melrose Title, Dogwood Insurance, 2-10 Home Buyers Warranty, and Brandon Phillips with Cutco.

By bringing elite training opportunities like Ninja Selling directly to its agents, Wallace Real Estate continues to lead the way in professional development, which ensures its agents are not only skilled advisors, but trusted partners in every client relationship.

Real estate transactions are rarely predictable. One Wallace agent recently worked with a motivated buyer whose path to closing was anything but straightforward. From competing offers and title issues to financing obstacles and last-minute uncertainty, the transaction presented challenge after challenge.

What made the difference wasn't just the agent's determination. It was the support behind him.

At every turning point, the agent leaned on his Wallace broker for guidance. Together, they navigated contract changes, complex client dynamics, and shifting timelines. Even while the agent was briefly overseas, the broker and internal support team stepped in to help keep things moving forward.

When emotions ran high just before closing, the agent once again had a steady voice behind him. His broker helped him sort through the facts, assess the risk, and prepare the right next step.

Thanks to this collaborative effort, the client was able to close on her new home. The agent walked away with greater confidence and a deeper understanding of how to manage complicated deals with professionalism.

At Wallace, that is what mentorship looks like. Our brokers are focused on agent success, offering experienced guidance in the moments that matter most. When things get complicated, Wallace agents know they will never have to face it alone.

To learn more about what a real estate career with mentorship and support looks like, let's connect!

We know that almost all home buyers use the internet to shop for homes. And, photos of the home are the website feature that buyers value most.

This tells us that how your home appears in photos is critical to convincing a buyer that they should come see the house in person. When a buyer drives up to their potential new home for the first time, there are only a few seconds to make a great first impression to keep them interested.

So, what are some easy ways to enhance a home's curb appeal?

Probably the simplest things include keeping the lawn cut neatly, and making sure landscaping beds are free of weeds. Another great way to enhance your home's curb appeal is by giving shrubs and trees a trimming.

Try to see your home as if you didn't already live there. Would it grab your attention if you only had one image to base your opinion on?

Is your front porch inviting? De-clutter it by removing any unnecessary items, and consider giving your front door a fresh coat of paint.

The addition of subtle seasonal decor elements can also create a more appealing atmosphere.

Power washing the sidewalks and pavement can go a long way in creating a fresh canvas as well.

Before tackling any huge projects, talk to your Wallace Real Estate agent. They will be able to provide other suggestions that may result in more money in less time for you as the seller.

When an agent is working to bring a deal to the closing table, knowledge is essential.

At Wallace, brokers bring deep experience, calm professionalism, and practical insight to every situation. This is more than just a safety net for agents, it's a competitive edge.

Whether it's reworking timelines, navigating contract changes, or helping agents respond to complex client needs, Wallace brokers aren't guessing. They've seen it, studied it, or handled it before. And when they haven't, they know how to find the answer fast.

With several hundred closings under their guidance each year, Wallace brokers give agents confidence in navigating even the most complex transactions.

That kind of support has a measurable impact. Wallace agents have an 82% success rate from contract to close — compared to 75% across the broader East Tennessee market. It's not just because they work harder. It's because they're better prepared.

Behind that success is a team of non-competing brokers who stay sharp through advanced training, industry designations, and leadership experience. From the first-time agent learning to structure their workflow, to the top producer navigating high-volume negotiations, Wallace brokers offer personalized guidance that empowers agents to succeed on their terms.

Because when your broker is confident, calm, and capable — you can be, too.

Click here to learn more about how your success starts with smarter support.