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Market Conditions in Knoxville : Real Estate Advice

  • All492
  • Local Info34
  • Home Buying157
  • Home Selling34
  • Market Conditions21

Activity 16
Sun May 5, 2013
Cindy McLaughlin answered:
I grew up in North Hills. It is full of older homes that are very unique. The area has seen a resurfacing of families who love older homes and larger rooms with character. It is also close to the downtown area which has also had a total remake with urban rebuild. If you are interested in talking about this further, please contact me (865) 599-7239. ... more
0 votes 3 answers Share Flag
Mon Mar 11, 2013
Solange Velas answered:
should have an alley in the rear to access - typical of city lots - so you would park behind the house. Not sure if there's a garage. it says one car parking.
0 votes 5 answers Share Flag
Mon Jun 11, 2012
Bob Evridge answered:
How long has what been on market?
0 votes 2 answers Share Flag
Tue May 25, 2010
Cheryl Hatfield answered:
Many of those rentals are independently owned. I suggest you take a drive around and look for "for rent" signs. You can also place an ad on craigslist under housing wanted.

This will also be prime time for occupancy by students as the fall semester begins.
... more
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Mon Jun 11, 2012
Alice Adams answered:
I keep watching this post hoping someone posts an answer. Maybe no one knows. I heard that there are about 25% less agents today then 5 years ago. I would need to double check that info. I will see what I can find out this week. ... more
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Tue Jul 2, 2013
Julia Odom answered:
Be prepared to work 7 days a week and take a day off whenever you happen to be able to.

That's why we get paid the big bucks =)
0 votes 13 answers Share Flag
Fri Dec 28, 2012
Julia Odom answered:
I tell sellers that an open house doesn't yield a buyer for their home in very many cases (anecdotally, I'd say there's about a 1% chance) but that I often pick up a buyer to work with that I can sell another home to. At that point it's their option. ... more
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Mon Nov 22, 2010
Bob Evridge answered:
Hi TN Mom,

I guess it depends on what you mean by "investment."

If pay rent for 4+years will you have anything to show for it at the end of that time....no.

If you want to have something of value that you would be paying on over the same period then yes.

If you want something that is guaranteed to increase in value....there is no guarantee that at the end of your use of the unit that it will have increased in value. Having said that, it will be worth something which is better than the nothing you would have paying rent.

If you mean by investment....buying a unit or two and becoming a landlord, that is whole different ballgame. Although there is potential there for making money, there is a great deal of responsibility that goes along with that.

A lot of factors come into play. Location of the unit. Management of the unit. Care and maintenance of the unit. Some units in the Fort have been well cared for and held their values. Others not so much.

I think you need to consider the risks of how much you are wiling to put into it and ask some very hard questions of your situation. Can you afford to do this? How much of your resources will be required to do this? At the end of your college time, what if it has not increased in value...will that be OK? How hard will it be to sell? Could you keep it and become a landlord yourself.

If you have an agent, I'd suggest that you sit down and explore all of these questions with him/her. An agent can help you avoid a lot of the pitfalls associated with such a purchase.

Hope this helps.

Best Wishes,
Bob Evridge
Dream Facilitator

REALTOR®, Broker, e-PRO,GRI
Hop Bailey Co.
310 Forest Park Blvd
Knoxville, TN 37919
"The Extra Mile Is Never Extra"
865-660-0198 DIRECT
865-684-4899 FAX
MailTo:Bob@BobEvridge.com
http://www.BobEvridge.com
... more
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Wed Dec 16, 2009
Sean Dawes answered:
Kelsey,

if you havent tried searching, you can try www.rentals.com as well as your local craigslist.



Sean Dawes
0 votes 1 answer Share Flag
Thu Jan 24, 2013
Scott Godzyk answered:
i do not think that those percentages are realistic as an average, some areas are now seeing bottom while others are still falling. your best bet is to meet with a local and trusted broker who can give you market conditions for your area. in most cases if prices continue to fall, your home is worth more now than it will until next year. the biggest condition is if the banks start loaning again, we have buyers , we just cant get them mortgages. ... more
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Mon Jun 1, 2009
Shannan Brennan answered:
I would just say that Knoxville is a totally different place than the national spotlight. (Now that is obvious). If we measure how long homes/condos are sticking around on the market as well as prices year over year and/or quarter over quarter, Knoxville is still performing quite well.

I am not sure if Knoxville is or isn't in a bubble. Personally I don't believe it is. As Florida and California were producing record 20 to 24% gains each year, Knoxville was chugging along at 5 to 8%. If we have a market correction, I believe it will be quite unnoticeable and more than likely occur in the 600k and above properties first.

Just my thoughts, and if you need anything specific please do not hesitate to call or email. I have a massive amount of data and am a huge numbers guy.
... more
0 votes 7 answers Share Flag
Sun Apr 27, 2008
Sherry Wheeler answered:
It depends on which ones you're looking at. Let me know & I'll run the comps for you & let you know.
0 votes 2 answers Share Flag
Thu Apr 3, 2008
Pam Winterbauer answered:
Weston.....

You may want to try craigslist or the online version of the local paper. Trulia does not have a section for rental properties. Good luck.
0 votes 3 answers Share Flag
Fri Nov 9, 2007
Ronnie Dailey answered:
I've heard of rareity bay, but not rareity mt. could you give me more info??
0 votes 2 answers Share Flag
Tue Oct 9, 2012
Tammy Easter answered:
Downtown Knoxville is still in the process of revitalization. They have come a long way but its still a work in progress. The addition of grocery stores and pharmacys will most likely come soon. In my opinion the prices will be going up instead of down. ... more
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