General Area in Jasper>Question Details

Oolookai, Both Buyer and Seller in Jasper, TN

Should property in rural Jasper, TN be higher than comparable property in the prestigious neighborhood of Mountain Shadows in Chattanooga, TN?

Asked by Oolookai, Jasper, TN Mon Mar 1, 2010

We want to sell our house in Mountain Shadows (Chattanooga, TN) and buy a comparable house in Jasper, TN. I am originally from Jasper, TN, and am familiar with real estate in the area. However, so far we have not been able to find a comparable property which does not cost MORE than what our current home might sell for. Our current home is 4525 sq.ft. and is within 8 minutes of the new Volkswagen plant which is opening soon. Our real estate agent says that rural property always sells for more than urban property. I have always heard the opposite. What is the truth?

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Are you still interested in relocating to Jasper? I have just put my home for sale. It's 160 Lukes Lane off of Marshall Hall, off of Betsy Pack. Kind of across from Marion County High School. I have all the information located at Zillow.com , I am new to trulia and can't figure out how to upload the pictures. If you are still interested in Jasper pls call 423-718-1708. The price of our home is $239,900 2106 sq ft.
0 votes Thank Flag Link Thu Jul 29, 2010
It's really all about supply and demand. There is a much larger supply of 4000+ sq ft homes in Chattanooga than there would be in Jasper (I'm kind of assuming this since I'm not that familiar with Jasper but I have been looking for luxury homes in that area recently and haven't found much). Homes in that price range are selling pretty slowly in Chattanooga. With a limited supply in Jasper there isn't as much competition for buyers/downward pressure on home values there.

I would say that rural property (of the same acreage) would sell for less than something similar in Chattanooga as long as it is a median price home for which there is a reasonable supply. When you are looking at a bottle neck of available homes, this goes out the window.
Web Reference: http://www.JuliaOdom.com
0 votes Thank Flag Link Mon Mar 1, 2010
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