Knoxville, TN Real Estate News

By Sherry Wheeler, Serious Help For YOUR Real Estate Needs
(United Real Estate Solutions)
A local loan officer just informed me that beginning 2009, many lenders are requiring a 6 month reserve before financing a 2nd home.  This could be huge on the vacation/rental markets.  If you know of anyone thinking of buying a second property they need to do it now.
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
The Knox Country Registrar of Deeds office recorded the following real estate transactions in Knox County this past week. More than $1,000,000                 1 $1,000,000 to $500,000              6 $300,000 to $500,000               15 $200,000 to $300,000               36 $150,000 to $200,000               32 $100,000 to $150,000               42 $50,000 to $100,000                 29 Under $50,000                          15   Total Knox County property transfers for the week of November 16th: 176 Here's some examples of what your money can buy in the greater Knoxville, Tennessee area now. This historic charmer in north Knoxville's 4th & Gill neighborhood sold for $144,000 Attractive Powell home sold for $189,000 Terrific Karns area home with 5.4 acres closed at $244,000! This stunni...
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By Christine McInerney, The McInerney Team, Knoxville TN Homes For Sale
(Great Life RE)
  Here I sit preparing and anxiously waiting for my first National Association of Realtors Conference in my hotel in Orlando, FL after awaking in a "Twitter-like" state.  I think I have officially reached Social Media overload- I was dreaming in Twitter!  I woke up with my heart beating fast and arrhythmic, my breath shallow, and head in a blur after being bombarded and almost attacked in my sleep my short little blurps of information flying at me in the forms of @ and + signs.  I have learned that Twittering right up to bed time should never replace reading a traditional book!  As a former high school Biology teacher of 8 years, I consider myself a life-long proponent of education, a life student, an information junkie per say.  I have been in Real Estate for about 1 1/2 years and have...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
A Certified Resdiential Specialist (CRS) is a Realtor who has earned the National Assocation of Realtor's highest designation for residential real estate. As of September 30, 2008, NAR's membership is 1,251,826. Only about 37,000 of that number have earned the CRS designation. Currently there are two options to qualify as a CRS designee. 1. Participate in 75 transaction sides during a 5 year period of 25 million dollars in volume over the same time period. 2. Complete 4 core units in Business Planning & Marketing, Listing, Sales, Wealth Building, Finance, Technology, and Referral and 1 unit of either Creating Value for Your Client or Putting Technology to Work For Your Clients. 3. And a total of 4 other electives from the CRS approved elective list. Or, option 2 1. 25 transaction sides ...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
One of the great things the www has brought to everyone is access to cool webcams all over the country and the world. Here's a few if you want to add some realism to your daydreams. I didn't realize these things were so common and so....everywhere. Big brother is here. Jackson Hole, Wyoming (and quite a few other places nearby) Great Smoky Mountains near Gatlinburg, Tennessee More Great Smoky Mountains park from another direction and location Purchase Knob, Great Smoky Mountains Marco Island, Florida, a favorite with snowbirds. Earthcam, tons of great web cams all over the world, you can look here for days. All over, these cameras are all over the world too, not as well labeled as Earthcams Times Square, New York City Web cam central, another collection from all over Cruise ship cam, pa...
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By Christine McInerney, The McInerney Team, Knoxville TN Homes For Sale
(Great Life RE)
   Lately I have seen and commented on several posts about the benefits of using real estate teams.  As a member of a highly efficient Real Estate team myself, I am a huge proponent.  Together we are Christine McInerney and Jennifer Halinkowski of Team McIn-Kowski with Southland GMAC Real Estate.  We both have incredibly complex last names that no client has yet been able to pronounce or spell.  Therefore, we combined the two parts of our last names that are the least often slaughtered "McIn" and "Kowski" and combined them into Team McIn-Kowski.       Real Estate is a career that is full of surprises and unfortunately clients often dictate our schedules.   Sure I would LOVE to only show and sell houses during the "normal business days", however, many of my clients work during the day so...
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By Christine McInerney, The McInerney Team, Knoxville TN Homes For Sale
(Great Life RE)
BRRRR...Winter is encroaching, the days are becoming shorter, the air is cooler, and our monthly energy costs could be on the rise.  However, by following these simple and inexpensive energy saving tips you can not only reduce your Carbon Footprint but save money at the same time. Going Green is a lot easier than you may think and the benefits can be huge.  Below is a list of some simple things that can be done to reduce your overall winter expenses.   Embrace the power of natural sunlight.  Simply keeping you blinds and curtains open during the day will allow the natrual sunlight to enter your home, not only filling your home with a warm glow, but will also allow the natural heat to enter your home.  At night close your blinds and curtains to help trap in the heat. Tend to your firepl...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Here's 5 secrets that will help you find the best price and terms on your new home or condo purchase. Shop for real estate listings with "Reduced" or "Price Reduced" sign riders or ads. In my long experience as a real estate broker I've observed if someone will come down on price once they will usually come down again. Reduced signs are like the old K-Mart "blue light special" lights flashing for you. Look for a fixer upper. Watch for ad words like: “fixer-upper,” “potential,” “value in land,” “investment property,” “tender loving care,” “contractor’s special” and “as-is.”. These code words are often clues that will lead you to a seller unable or unwilling to spend a few hundred dollars doing minor fix up items like paint and carpet. If you're willing to spend the few hundred dollars th...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Most every fall we take one of the annual color cruises on nearby Norris Lake. Operated and narrated by a ranger from Norris Dam State Park, these cruises take you places you can only access by boat. Friends of Norris Dam State Park donated this pontoon boat for park use. This past Friday wasn't the best weather conditions for a trip on the lake. It was rainy, cold, and blustery; in other words a fairly typical fall day in east Tennessee. However the leaves were almost ready for viewing so off we went. The showy maple trees were a vibrant red and easily the star of the show. There is a lot of shoreline showing because the Tennessee Valley Authority drops most all the local lake levels in the fall to make room for runoff in the spring and for flood control downstream. The fallen trees al...
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By Richard Barbee
(Realty Executives Assoc)
It is very easy to lose heart.  It is far too easy. Steadfast is one of my favorite words.  Can you see this word in action?  A traveler, stepping against the chilling winds, lowers his head with total resolve to move forward.  No steep road or falling rain could penetrate his decision to break through.  External circumstances and internal battles cannot stop him. There are many ways to envision steadfast.  A mother's love in the face of illness or change, a police officer watching the streets to protect all of us, and a brother sitting beside the hospital bed of an injured sibling are all illustrations. But as much as steadfast may refer to love and compassion, it is also about being tough and staying strong.  With the real estate market and general economy in question, those in the ho...
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By Rich Dansereau
(Positive Real Estate Professionals)
This Saturday, the Crimson Tide of the University of Alabama rolls into Knoxville to face the University of Tennessee Volunteers. In my honest opinion, this is the premier rivalry in the SEC. From the heartbreaking Volunteer loss to Alabama (27-7) on October 20, 1962 at the dedication game of Neyland Stadium to this the 91st meeting of these two school's storied athletic histories. Though the Volunteers are having a difficult season this year, to put it mildly, these types of rivalries can often bring out the inner beast in players. You have Philip Fulmer and 16 starters from last year on the Volunteers' team who will be defending Neyland Stadium, the third largest college stadium in the country. Ready for the challenge is Nick Saban's Crimson Tide. Rolling into Knoxville sitting at #2...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
So you have your Knoxville house on the market and you’re not getting any offers or you’re thinking of selling and you have concerns about the perceived state of the so called “national real estate market. First of all relax, there is no “national real estate” market but rather a large number of local markets more dependant on local conditions, (i.e. jobs, local economy, employers, jobs creation, etc.) than the national economy. The greater Knoxville, Tennessee area is one of those fortunate areas that is blessed with a diverse economy and all of those diverse sections are humming along pretty well right now and is projected to improve in 2008 Combine that with historically low interest rates and there’s no reason anyone that needs to sell (or buy) a house can’t do so. In addtion to the...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
  The Knox Country Registrar of Deeds office recorded the following real estate transactions in Knox County this past week. More than $1,000,000                  2 $1,000,000 to $500,000               6 $300,000 to $500,000                21 $200,000 to $300,000                39 $150,000 to $200,000                51 $100,000 to $150,000                73 $50,000 to $100,000                  46 Under $50,000                           33 This beautiful Farragut home closed recently for $1,426,000 This spacious 2800 square foot Knox County home closed at $240,000   This attractive Knoxville home sold recently for $120,000   So as you can see by the number and quality of homes sold this past week in Knoxville and Knox County, area homes are still selling well and there are some great buys...
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By Mike O'Neill
(Knoxtours.net)
For a few years now I'd concentrated my virtual home tour efforts toward real estate agents. A lot of my work came from referrals so I really didn't have to do a lot of marketing. The market I started my business in is still, a very hot virtual tour market.It has been very different since I moved to Knoxville, Tennessee. There's not that "want it" for virtual tours as there was in Houston. The virtual tour work I found so easy before is now hiding in and around Knoxville and East Tennessee and its waiting for me to come and find it. RTV has been a great business partner. Their support system encourages us to get out of the Real Estate box and find another box that can benefit from our virtual tours and marketing. This is really a great time for Real Tour Vision dealers, the markets are ...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Fall is great in east Tennessee with all the trees showing their spectacular yellows, reds, and orange colors. The air is cooler and more crisp, the smell of wood smoke and burning leaves is in the air. It’s also a perfect time for a little backpacking in the nearby Great Smoky Mountains National Park. So this past weekend some of my fellow Realtors and a couple of other friends hiked into the backcountry along the Meig’s Mountain trail to campsite # 20. It’s about a 3 1/2 mile hike in from Elkmont, a popular front country campground. Weather was perfect this past weekend; bright blue, clear fall skies, sunshine, and temperatures ranging from 40s at night into the mid 70s during the day. Read the rest of the story here with photos of some animals you don't usually see in east Tennessee....
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By Chuck McNulty
(Dagnan Realty Group, LLC)
Now is the time to start looking for a home. The interest rates will probably drop a little, homes are about as inexpensive as they may get, with the market spinning, it is a good time to invest in a home of your own or an investment or second home.
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Beginning January 1st of 2009 the current, 2 out of 5, tax rule will change. Currently if you’ve lived in your Knoxville or Farragut, Tennessee home as your principal residence for any 2, doesn’t have to be consecutive, just cumulative, of the previous 5 years you can exclude up to $500,000 of gain if married filing jointly and $250,000 if single. The new rule is that if you used the property first as something other than a principal residence (such as a vacation home or investment), that you must pro-rate the gain so that some is taxable and some is tax free. If you have a Knox County property that has experienced a gain in value, talk to your CPA before January 2009. There are actions you can take now to preserve the full tax free gain exclusion. www.KnoxvilleHomeCenter.com is a grea...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Those of us fortunate to live in the greater Knoxville, Tennessee have a unique opportunity to enjoy camping and hiking in the nearby Great Smoky Mountains National Park. There are over 800 miles of great hiking trails in the back country of the Smokies and many, many beautiful spots to enjoy. But, there is also danger. Hikers and visitors often become lost and every now and then, a death results. While planning an upcoming trip to Spence Field, a very popular trail shelter and scenic camping area along the Appalachian Trail, I was reminded once again of the mysterious disappearance back in 1969 of a young boy named Dennis Martin.   Dennis Martin, circa 1969   On Father’s Day, 1969 Dennis Martin was six years old., His older brother, his father, grandfather, and two cousins were on thei...
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By Jim Lee, REALTOR, CRS, ABR, Buying or Selling? Ann & Jim are the local experts
(RE/MAX Shoreline)
Before examining the latest Knoxville area real estate sales data I want to touch briefly on some misconceptions potential buyers may have about the local market. There is an overload of negative economic news floating around out there and a lot of it is tied directly to the housing market. Unfortunately the media tends to focus on markets that have been hit the hardest because their numbers make the most attention grabbing headlines. But simply because the southern California and Florida real estate markets are in the dumps doesn’t mean the same is true in Knoxville, Tennessee. Buyers need to look at their own personal situations which is much more relevant to them than whatever they’re reading or hearing from the news. Read the rest of the Knoxville housing market story here
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By Jennifer Halinkowski
(Keller Williams)
THE PERFECT STORM September 22, 2008Right now and for the next 2 to 3 weeks we will be in THE MOST PERFECT BUYERS MARKET IN OVER 20 YEARS.  Why? 1) Interest rates are at nearly an all time low with rates between 5.5 and 5.75%. 2) Inventory is high. 3) Uncertainty in the economy and the upcoming presidential election are influencing some sellers to make quick and irrational decisions. 4) Winter and the holidays are right around the corner and sellers want to sell before then. 5) Sellers are more motivated than ever to sell because frankly they are "scared" at what is going to happen in the next few months. What do all these things add up to?  THE PERFECT STORM If you are in a position to buy real estate right now, DO IT!  The bottom is here and this window won't be open for long. Visit w...
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