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Market Conditions in Chattanooga : Real Estate Advice

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  • Local Info46
  • Home Buying88
  • Home Selling9
  • Market Conditions14

Activity 22
Tue Nov 24, 2015
wynnefitz asked:
Is it financially feasible to buy a fixer in this area and invest in a property. Is this a good area to invest or can you suggest any other areas in or around Chattanooga.
0 votes 0 Answers Share Flag
Tue Dec 30, 2014
John Connor answered:
I don't think that would work out so well. I think that most places are pet free to be pet free. I think that you would have better luck with getting an apartment that allows pets. http://www.aocb.com/daycare ... more
0 votes 2 answers Share Flag
Sat Nov 15, 2014
Travis Close answered:
"North Chattanooga" can be different to different people. Are you looking to be in the Normal Park school zone or just close to the river? Different parts of North Chattanooga can vary widely depending on the school they are zoned for. ... more
0 votes 2 answers Share Flag
Wed Oct 29, 2014
Andy Winget answered:
Perhaps you drew this conclusion based on a web generated price estimate. These are often inaccurate because they do not take into account comparable sales in the neighborhood, but rather estimate the price based on the last sale price of the home, adjusted by the average home price change in the same zip code (or something like that).

A local Realtor is always the best resource for finding the fair market value of a home!
... more
0 votes 4 answers Share Flag
Tue Oct 28, 2014
Julia Odom answered:
According to the Hamilton County DOE website. This one is zoned for Rivermont Elementary and Red Bank Middle.
0 votes 1 answer Share Flag
Tue Aug 12, 2014
Christine Anderson answered:
You can find all school zoning here: http://www.hcde.org/?DivisionID=14531&DepartmentID=15143&ToggleSideNav=ShowAll

This property is zoned for Spring Creek Elementary, East Ridge Middle and East Ridge High

If you have any other questions feel free to email or call! 423-593-7277, ChristineAnderson@kw.com

There are also some other schools, Calvary Christian, Boyd Buchanan, and OLPH
... more
0 votes 1 answer Share Flag
Mon May 26, 2014
kttbbg123 answered:
None listed in this area. Well lit, safe and private neighborhood. One way in and out. Neighbors know each other and would report any suspicious activity.
0 votes 5 answers Share Flag
Tue Apr 29, 2014
Paula McDaniel answered:
Veranda,
If you are searching for homes for sale on Tunnel Blvd. near Brainerd Road, please feel free to call me and I would be more than happy to help.
Thanks Veranda and have a great day.
Paula McDaniel
... more
0 votes 1 answer Share Flag
Tue Apr 29, 2014
Bailie Rhea Hodges answered:
Hey! What is your question regarding this property.

I am more than happy to answer any of your questions.

Feel free to message me at anytime.
0 votes 1 answer Share Flag
Thu Apr 24, 2014
Bailie Rhea Hodges answered:
Hey Deann,

It's looking like 13.42 miles
0 votes 1 answer Share Flag
Thu Jan 16, 2014
Sara Morris answered:
Hi Gwen,

Your question didn't come through the system...but I would love to assist you! Please feel free to give me a call @ 423-421-6430 or an email @ SaraMorris@kw.com anytime.
0 votes 3 answers Share Flag
Tue Dec 10, 2013
Caroline Outlaw answered:
This neighborhood was definitely hit during the recession. Priced and demand dropped from 2007 - 2012. Both have been on the upswing ever since though. I would highly recommend working with an agent who is familiar with the intricacies of the neighborhood. ... more
0 votes 2 answers Share Flag
Mon Dec 9, 2013
Rita Holder answered:
Fri Nov 15, 2013
tm.anderson13 asked:
This question was asked from http://www.trulia.com/rental-community/9000040130/Ridgemont-Apartments-20-Mason-Dr-Chattanooga-TN-37415/
0 votes 0 Answers Share Flag
Fri Apr 5, 2013
Marsha Cowan asked:
This question was asked from http://www.trulia.com/homes/Tennessee/Hixson/sold/642500-1255-Leaside-Ln-Hixson-TN-37343
0 votes 0 Answers Share Flag
Tue Mar 12, 2013
Kevin Sipe answered:
In my opinion Lease-Purchase Agreement (LPA) is a more appropriate terminology as Lease versus Renting conveys the significance of the arrangement more accurately.

Lease-Purchase bears certain risks and offers benefits to both parties. As with any business arrangement, the success of the agreement relies on the validity and comprehensive nature of the contract, the durability and reliability of the participants to the agreement, and the circumstances and intent the agreement is arranged. It is well adivsed not to attempt to cut corners with do-it-yourself forms, avoiding contracts or the advise of qualified professionals familiar with LPAs. This includes an attorney, accountant, financial planner, or banker, and a real estate agent.

Often LPA are established from an existing relationship (such as a tenant-landlord) in which a pay and tenant history is establihed and the desire or opportunity to sell the property arises. It also requites the property owner to be willing to assume risk as a mortgagee.

Benefits to the Purchaser/Tenent-
LPAs may offer the opportuntity to aquire ownership to a tenant who may not be able to acquire conventional or conforming financing. Often the cost of LPAs can avoid or reduce certain costs associated with mortgage financing and real estate agent broker fees. Financially, the tenant retains the benefits from investments in any home improvement if the contract is executed fully. Another benefit is the tenant is already familiar with the property and does not have to search and or move. Upon satisfaction of the agreement, the tenant becomes the purchaser and obtains ownership of the home and the payments made contributed to their net worth.

Benefits to the Seller/Property Owner-
As a mortgagor the seller essentially annuitizes the value of the property receiving a scheduled monthly income for the period of the contract. This may be a beneficial tax or financial planning strategy. As a property owner the secured interest of the tenant / buyer may eliminate the risk of excessive wear and tear and repair costs. The tenant bears the expense of repairs and therefor more likely to treat the property as their own.

Risks are inherent with LPAs-
This risks can partially be mitigated with a well thought out contractual agreement and due diligence. It should be understood that the buyer / tenant in most circumstances bears the risk of loss of capital investment. Seldom have I seen the return of any investment or payments to the improvement of property in agreements with disintretested (not family related) parties.

Costs associated LPAs
Often people mistakenly assume that an LPA will avoid closing costs. Having independent real estate or legal representation in the interest of both parties is recommended. There are fees associated with the drafting of a valid enforceable legal contract compliant with the state or district laws. The agreement and mortgage note have to be filed at the county court house. Title examination and insurance is important to protect the buyer's interest and protect against an unforsean claim on the property that pre-empts the purchaser's interest. Inspections of the property to help the buyer make a well informed decision about the agreement. Upon the satisfactory completion of the agreement transfer of the deed of trust are filed at the county court house.

Experience
When LPAs work they work they work well for both parties as long as their interests remain durable and needs or goals do not change contrary to the established agreement. When LPAs go wrong or the document drafted can be easily litigated such arrangements have been know to be costly and troublesome.

My choice would be to obtain conventional or conforming financing on a qualified property in lieu of an LPA. The establishment of ownership is finite and the mutual risk is mitigated. I would consider LPA only in a circumstance with special circumstances or if I were willing to assume the risk as a mortgagee and both parties had the ways and means to enter the agreement properly with the proper due diligence.
... more
0 votes 1 answer Share Flag
Mon Jun 25, 2012
Edith Karoline Jasser answered:
In order to get a good answer you will need to provide the local Real Estate Brokers with a little more
information, as they need to compare to those homes in your size, app. price range, upgrades, age and lot size that difference of negotiation between sellers and buyers after the original asking price
(and then there may have been earlier price reductions by some of the sellers) can be quite difference
in the different price ranges, sizes of homes and locations of homes.

It also depends on the market area in general....

Just give the Realtors here more info or connect with an experienced area Realtor, if you need
recommendations let us know.

Good Luck to you......
Edith YourRealtor4Life and Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients covering the larger Chicagoland areas
and the fine homes on the North Shore, and with Partner Agents all of the US and properties
worldwide. Edith speaks French, German, some Spanish and more.....

EdithDoesItRight@yahoo.com EdithSellsHomes@gmail.com
@Properties 30 Green Bay Rd Winnetka Illinois 60093
Your Referrals are always Welcome :) Check out my expertise and services at
Http://www.tinyurl.com/MeetEdithHere
... more
0 votes 2 answers Share Flag
Thu May 24, 2012
Lynda Perry answered:
One of the most compareable to that one, sold for just over $106. per square foot.
0 votes 3 answers Share Flag
Tue Mar 29, 2011
Stephanie Rutherford answered:
Red Bank is close to the North Shore, downtown, Hixson, AND Signal Mountain. There are many charming, older homes there that are available and can be gotten relatively inexpensively. I believe as more young buyers discover the area, it will become a very "hot" area in the coming years. ... more
0 votes 6 answers Share Flag
Wed Mar 23, 2011
Denise Leach answered:
Hello,

Glad to hear you are considering Chattanooga as a place to retire. Whether you are looking in the Southside or Northshore-downtown has a lot to offer. You can walk or hop on one of the shuttle buses. Our company is located in the Southern Railway Building down from the famous "Chattanooga Choo Choo" conveniently located to shops and eating establishments. We are having a March Madness Sale with condos starting at $119,900. They are true lofts with awesome views of the city from the roof top deck. Any of our agents would be glad to help you find your Chattanooga home.

Thanks for your interest in Chattanooga!

Denise Leach
Bridge City Realty, LLC
423-648-6242
... more
0 votes 7 answers Share Flag
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