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Knoxville, TN Real Estate News

By Mary Lou Teague, Home Style and Staging Knoxville. TN
(HOME STYLE AND STAGING LLC )
I have a link to FACEBOOK    and  TWITTER  on my website, however, I have no idea if this is pulling customers to my site.  I have a FACEBOOK page for HOME STYLE AND STAGING and have over 250 friends. I have found that most of the "Friends" are other stagers from other cities.  So how is this getting my name out there to future customers ? Do you use FACEBOOK AND TWITTER to help market your business ? If so, what results have you found? What other sites ( besides Active Rain ) do you use to drive customers to your site ? I do write outside blogs through Google, what are other ways to pull the customers ? And how have they worked for you ?  
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By Steve Gazaway, Bringing Clarity to Real Estate
(Billy Houston Group- Keller Williams)
Can you handle the truth?  Well too bad here it goes anyway.  There is no PERFECT time to sell your house.  In the end, if you are expecting another child the baby will eventually need his/her own room.  If you have been brought in on Monday morning and told you don’t have a job then the following weekend you may be painting your olive green bedroom with a neutral taupe so the house will show well.  So then for the remainder of this inaugural blog I am going to just ramble in REALTOR® speak and lose my global management experiences and opinions about global economic conditions.  There will be time in future blogs for me to poison you with my diatribes about my unfortunate clientele.  I will do you a favor, however, introduce you to my very impatient side which I hope you come to appreci...
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By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
I was interviewed yesterday about the state of the greater Knoxville, Tennessee real estate market by Hana Kim, one of my favorite local reporters. Below is a graph I made comparing this January just past to previous Januarys. And here's the story:   By HANA KIM6 News Reporter KNOXVILLE (WATE) - The housing market in East Tennessee hasn't been hit as hard as some of the other cities these past few years. In fact, new numbers indicate a recent uptick. A total of 588 home were sold in the greater Knoxville area in January. That's 90 more homes sold compared to the same month last year. "I hear a lot of people saying that their activities have increased and that they are showing a lot of people houses. I've started off to a good year so far," said realtor Jim Lee of Realty Executives Assoc...
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Rental Property Cash Flow Increased - Providing Transitional Housing Gaining in Popularity. Knoxville, TN Converting a conventional rental into alternative housing can be fast and easy. We have created a method that keeps conversion costs to a minimum. Most multi-family and many single family residences (SFR’s) can be transformed into a much more lucrative venture. One important point is to make sure you check with your local zoning authority first. You will want to find out how many un-related individuals are allowed per unit, within your property’s particular zoning district. Why check out at this alternative? Profit is the answer. $450 a month for a private room, $750 a month for a semi-private room adds up quickly. How many bedrooms does your rental have? How many are at least 144 s...
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By April Stouffer
(Hartford Financial Group)
There is little doubt that interest rates are on the rise. We have been fortunate that rates have remained so low over the last year. But folks, the party is almost over. Adopting the lock'em if you got'em mentality is a good idea. If you are in the market for a new home or thinking about refinancing today is the day to do it! Don't delay and call me TODAY!
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Income property can have very stable, respectful and reliable tenants. Knoxville, TN Yes, that’s right! It all depends on product, location and good tenant screening. If you don’t have all three, your vacancy rate will be elevated. Let’s discuss product first. We recommend to our students that they furnish their properties with clean serviceable items, new linens and art work on the walls. What you are creating is an environment that is very pleasing to the tenant, one that not only the tenant will look forward to coming home to, but also one, through pictures on flyers, web sites and word of mouth, will attract new inquires. We are all for building and keeping a pipeline. Many furnished rooms for rent are not clean and be full of aged, thread bear chairs, sofas, and soiled mattresses. ...
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By DELETE ACCOUNT
Yesterday the DJIA traded quietly most of the day, down about 30 points; in the final hour however selling increased to push the key index down 104 points and closed under 10K for the first time since last November. No follow-through this morning as the choppy trade continues. A long day left, and we wouldn't bet that the key indexes will end the day higher by the close. Meanwhile; not much for the bond and mortgage markets to do today. Treasury begins the auctions at 1:00 with $40B of 3 yr notes and the auction is likely to be well bid. For the second day Washington is closed with additional snow piling up, talk of another 12" after 32" over the weekend. Brings into question whether Bernanke will testify tomorrow at the House Financial Services Committee, his required semi-annual repor...
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By Michele Webb
(Assist-2-Sell Discount Realty)
Making the decision to sell your home can be very complicated.  One of the most common questions I receive is "When is a good time for me to sell my home?"  The answer isn't as simple as you would think.  There are a few things that you must first consider.  One is to ask yourself "What is my motivation?".  If your motivation right now is to just put your house out there for a price to see what happens, then right now is not the best time for you to sell.  With the current economic conditions we are experiencing, you need to have a realistic expectation for what a buyer is willing to pay for your home.  That's where doing your homework and getting a couple of opinions from your local agents on their perspectives will come in.  Check out the homes around you to see what they are selling ...
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Don’t let your rental property become a charity shelter. Knoxville, TX I just read a blog by Donna in NM, who has had the most awful experience with a Section 8 tenant. She wrote that she didn’t have Section 8 housing experience and her tenant had 10 years of experience scamming the system. No rent has been collected and now she has a squatter and is uncertain how to correct the situation. More than a few good remedies were written in response to her questions and I don’t want to repeat her alternatives here. I can’t imagine that this is an remote case. Most likely not your exact conditions, but even so, many real estate investors, who are holding rental property are making costly mistakes. Depressed real estate prices and the profusion of very good deals on distressed properties are dr...
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Bidding opened Feb. 2nd 2010 on 105 Foreclosed Homes that Rowell Auctions, Inc. is offering at online only real estate auction. These homes are located in Tennessee, Arkansas, Louisiana, and Oklahoma and can be bid on until Feb. 16th 2010. February 3, 2010 -- Due to the current economic climate these online only auctions are becoming a first stop for real estate purchasers looking to make an investment in a first or second home or add to an expanding portfolio. Online auctions are the perfect choice for buyers who know what they want and know what they are willing to pay for their selections. With many offerings from financial institutions seeking to reduce their non-productive assets and streamline their holdings, today’s buyers are finding more variety in the market with inviting pric...
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By Mary Lou Teague, Home Style and Staging Knoxville. TN
(HOME STYLE AND STAGING LLC )
 Here is my follow-up to my post :WHAT COLOR TO PAINT ???? DECISIONS DECISIONS..WHAT WOULD YOU DO ????  I want to thank everyone for their great ideas and comments. Yes Lori, you were right I did go bold...                                 Drum Roll Please.... "SWEET GEORGIA BROWN" is the color that was used. As you can see this was a small powder room but big and bold colors and accessories were used. Here are the before and afters...                                        RED POWDER ROOM "BEFORE"                                     "AFTER"                                            New Lighting made all the difference... sorry but Elvis just had to go.. Ok so now let me know what you think of this transformation. The owners decided to stay in the home and not sell after all. If you are...
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By Blake Rickels, "The Name Friends Recommend"
(Blake Rickels Group, Honors Real Estate)
It’s the best news in real estate since last year’s First Time Home Buyers Tax Credit: an estimated $22 billion will pump into our economy as a result of the government not only extending the tax credit, but including current homeowners, too. The existing $8,000 maximum credit stays in place for first-time buyers. A "first-time" buyer is one who has not owned a home during the three years prior to the purchase. However, repeat buyers who have lived in their home for five of the past eight years may also qualify for up to a $6,500 tax credit on their purchase. Unlike before, as long as the property is under contract by April 30, 2010, buyers will have an additional 60 days to close by July 1, 2010. The credit applies to single-family homes, condominiums, townhomes and co-ops. The qualify...
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By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
This delightful duplex is near UT and has 1 two BR and 1 1 BR units, will cash flow. Happy New Years fellow Knoxvillians; it's now officially 2010. Following is the latest report from the Knox County Register of Deeds office for real estate transfers (sales) completed last week (January 3, 2010). I counted 88 property transfers in the past week. That's a low number compared to the 150 we have been averaging for all of 2009 but I believe the holidays had more to do with that than other factors. Are you like me and wondering what the new year will bring for the Knoxville real estate market? Here's what I think is likely to happen:  
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By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Not surprisingly it looks like the real estate transfers in Knoxville and Farragut Tennessee were down a bit this past week. I counted 135 with the usual high numbers in the lower price ranges as it’s been all of 2009 I’m very excited for 2010 to begin (which is will in only 4 more days) and see what a new year holds for us. On one hand interest rates remain very, very low which makes buying attractive. But on the other hand unemployment remains higher than usual in Tennessee although we’re faring better than many other areas. I believe I’m predicting a modest improvement in the volume of sales with prices still stagnant to downward. A good time to buy if you’re thinking about that. For sellers you have to price your houses competitively and be prepared to deal if you want to sell, you’...
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By Blake Rickels, "The Name Friends Recommend"
(Blake Rickels Group, Honors Real Estate)
A good place for Knoxville Tennessee car transmission repair.   If your ever needing to have your transmission, axles, or anything related to the transmission in your car or truck repaired and you live in or around Knoxville TN, I can highly recommend Transmission Corporation of America. When I hear a good story about a local business in Knoxville TN I always try to share it on my websites or blogs. A friend of mine in Knoxville named Katie was having transmission trouble and didn't know where to turn. She asked a co-worker of hers for a recommendation and they said "The one and only place in Knoxville to take your car for transmission trouble is Transmission corporation of America located on Clinton Highway and Merchants Road".  She wasn't going to be able to get there until 5:45 that ...
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By Blake Rickels, "The Name Friends Recommend"
(Blake Rickels Group, Honors Real Estate)
No cities have totally avoided the foreclosure crisis, but some were able to sidestep the worst of it. These markets are now recovering quickly.The recovery is swiftest in those areas that didn’t have as much of a housing price run up to begin with, either because the economy in those areas has stayed healthy or the economy has been limited for decades and residents have adapted or left. To identify places where the recovery has begun, Forbes magazine examined the number of loans that were foreclosed in the 100 largest metropolitan statistical areas. Then it calculated the percentage of loans that are descending further into delinquency vs. those that are improving. The lower the deterioration ratio, the higher the ranking. Here are the cities that fared best by that measurement and ar...
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By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
I counted the property transfers published by the Knox County Register of Deeds for the previous week and found 186 which is a little above the 150 or so average we’ve had for all of 2009 so far. It seems the extension of the homebuyers tax credit is continuing to drive the lower end of our market (the $200,000 and under price points) and the upper end remains sluggish. I’ve been reading lots of encouraging news about real estate markets all across the county and how they’re seeing increases in sales. Our market has shown one encouraging sign in the past 2 months in that sales have remained high instead of taking their usual seasonal downturn in the fall and winter months. Let’s hope that trend continues, in past recessions real estate has been the force that drove the recovery. Read mo...
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By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
By now most have probably heard that Congress passed an extention of the $8,000 tax credit for people who buy a home and have not owned one in the past 3 years. Most call it the "first time buyers' credit even if that is not entirely accurage. Here's a list of the relevant changes in the extension that were not all present in the original one. Extends the deadlines for purchasing and closing on a home. Creates a credit for existing homeowners who buy a new principal residence. Raises the income limits for those claiming the credit. Here's a few common questions people have had: Question: If I've already purchased a home in 2009 can I apply for the credit now or do I have to wait until I file my 2009 tax return? Answer: You have two choices; you can either file an amended return for 200...
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By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Tennessee is a state with lots of scenic beauty and lots of outdoor recreational activities. The Tennessee Valley Authority (TVA) has created an awesome lake and river system for boaters, fishermen, and all sort of water sports. East Tennessee, the part I live in, is home to the Great Smoky Mountains National Park with over 900 miles of hiking trails, campgrounds, and beautiful mountain scenery. Another little known and used part of Tennessee outdoors is the huge amount of state park, scenic areas, and protected natural areas dotted all over. I visited one I had never been to today; Stinging Fork Falls Natural Area near Spring City which is about 50 miles south of Knoxville. Parking area at Stinging Fork Falls near Knoxville, Tennessee This state natural area is located on top of the Cu...
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By Jim Lee, REALTOR, CRS, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Here’s the latest report from the Knox County, Tennessee Register of Deeds real estate transactions. There were 157 transactions during the past week; that’s about on par for the 150 average we’ve had for 2009. And as usual the $100,000 to $150,000 price points dominate the number with almost twice as many as any other category. Even though we have not seen the normal seasonal slowdown yet, I think it may be beginning in December. Real estate in Knox County and most everywhere else in the United States is in a very highly volatile state right now because of the economy, unemployment, and a lack of consumer confidence. I believe that will be exacerbated this month by the Christmas season. People with holiday parties and shopping foremost in their minds are typically not in the house buyi...
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