Property Q&A in Parkridge>Question Details

Stephanie Al…, Home Buyer in Knoxville, TN

why is this so cheap in price is this real?

Asked by Stephanie Allison, Knoxville, TN Wed Jan 30, 2013

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This question was asked from this property: http://www.trulia.com/foreclosure/3044244633--Woodbine-Knoxv…

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After researching this post, I see no listing for either a lot or a home, that is either on or off the market, that is on Woodbine for less than $2,000. The link says it was added over 180 days ago, it does not show up that it is an active listing. To answer your question further, there are lots available in Parkridge, and residential properties, that will occasionally fall below the $10,000 mark. As my peers have mentioned they are usually blighted or condemned homes and/or an empty lot.

Many of the homes in that price range provide an excellent opportunity to restore a home to an improved/original condition. If you are interested in restoration, then I suggest checking out the city of Knoxville's Blighted Property Redevelopment Program. You can read more about it and download the guidelines from my website: http://fostertheamericandream.com/knoxvilles-blighted-proper…

Thanks,

Shannon Foster, Broker
ABR®, SRES®
Coldwell Banker Wallace & Wallace, REALTORS®
o: 865-693-1111
e: Shannon@FosterTheAmericanDream.com
0 votes Thank Flag Link Wed Jan 30, 2013
The usual reason a price is listed this cheap is that it needs a lot of work. On Woodbine, at this price point, my guess would be needs plumbing, electric, hvac, floors, foundation work, and maybe even a new roof. In my experience, there are very few houses in this price range that are livable. Even foreclosures don't go this low unless there are a lot of things that are wrong.

If you have an interest in a project house, an area or a price range, I suggest you contact a real estate agent and let them do the work for you. Plus, as professional house hunters, we can usually find that rare gem that might not be as obvious to the casual buyer.

Hope this helps.
Bob
Web Reference: http://knoxcastles.com
0 votes Thank Flag Link Wed Jan 30, 2013
Hi Stephanie,

Thank you for your question. There are several properties for sale on Woodbine, ranging in price from $27,500 to $99,900. Though the link you have provided does not specify a house number, there are a number of foreclosures included in the available properties on this street, and it is likely that the property in question is one of these foreclosures, as noted in the description.

If I might ask, are you actively looking for a home in the greater Knoxville area, or did you simply have a question about this particular property? Foreclosures can be a great option for a homebuyer willing to invest some "sweat equity" in a house, and the degree of work needed can vary widely from property to property.

Please let me know how I may help you with your real estate goals. I am available to answer questions, and can schedule a showing of any home you would like to see. You can reach me by phone or text at (865) 323-1836, or by e-mail at caroline.holt@coldwellbanker.com.

Warmly,

Caroline Holt, Realtor
Coldwell Banker Wallace & Wallace
http://www.cholt.cbww.com
(865) 323-1836
caroline.holt@coldwellbanker.com
0 votes Thank Flag Link Wed Jan 30, 2013
thank you so much I am looking, and I am on a really strict budget, a single Mom with 2 teenage Kids ..I can't afford much but I want something modest and nice..maybe a fixer upper ...I am looking for foreclosed or hud properties...I am looking for a 3 or 4 bedroom with 2 or more baths..I would love it to be in my kids school district zip code 37914....My email address is changingher@yahoo.com. I am looking to buy asap..with a down payment of about $3500.00
Flag Wed Jan 30, 2013
I don't see any properties currently for sale on Woodbine for less than 27,000. Let me know if you need assistance finding a home!
0 votes Thank Flag Link Wed Jan 30, 2013
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