Tuesday, August 15, 2017
I have come across this question many times with potential clients when contemplating a purchase of a condo in downtown Knoxville. There are many considerations to think about, as well as lifestyle choices and just making it work.
In our discussions, one of the first consideration is what many folks have described as the New York City lifestyle. Living downtown, means lots of dinners and lunches out. Entertainment only a walk away, many choices between market square and old city and it is expanding.
If thinking about who do you shop in person, where do you store your car and what it the cost? Is biking really an option? What is the cost of delivery services for food like Blue Apron as an example. How do you shuffle packages and items from your car if you have to commute to work?
One of points for brought up was the use of the KAT trolley system and the recent creation of Publix and Walmart near the UT campus. Parking of course is a big one. Most of the homes have a dedicated space but they are usually fees associated with. Another consideration is how far is the parking from your home and what are the logistics concerned.
These are just some of the many topics to think about when considering looking at a home in the downtown area. It has real benefits and is tempting to live the urban lifestyle. But, since it is a huge financial consideration all these items and many more should be considered before a decision is made.
If you have comments or interest in real estate,condos in Knoxville or Knox county please email me at firstname.lastname@example.org
Thursday, June 1, 2017
Apologies for my absence... Busy real estate market.
The Old City is buzzing and a new complex has emerged on the scene and is offering some "more affordable" alternatives to the downtown condo market.
The Jacksonian, newly revitalized 1900's era building being developed by Brian Testerman has 3 initial units being offered. The units are 1 bedroom 1.5 bath open floor plan homes. The homes are between 1200 to 1300 square feet.
The units offer according to the mls, Hardwood floors, quartz countertops bamboo accented bars, stainles appliances and a lot more.
Big feature of the $218.00 monthly HOA fee is a single parking space. The offered price is from $245,000 to $275,000.
If you have questions about Knoxville real estate, condos or homes in the area please contact me at email@example.com or visit my website at www.myknoxvillecondos.com
Tuesday, February 28, 2017
In your purchase of a condo or Planned Unit Development(PUD) home, the question arises "should I do a home inspection?"
Of course the answer is a resounding YES! There are lots of items that can be looked at in a home inspection on a condo and a PUD. One of the first items to consider is what is the association maintaining ? Are they responsible for outside maintenance, like the roof, decks or patios, windows, doors ,garages etc. If so, it still might be good to know what items may you need to make the association aware of or not.
Naturally, any of those items not covered need to be looked at, but interior items, plumbing, electrical, heating, air conditioning. Exterior doors or sliding/atrium doors. Lots to consider. Attic spaces as well.
An inspection can really give you a feel as to how well things are being kept up and are the fees being used for there intended purpose.
So, get ready after getting the home under contract you need to do your inspection!
Are you interested in Knoxville real estate or condos in the area, please comment here or email me at firstname.lastname@example.org or visit my website at www.myknoxvillecondos.com
Tuesday, January 31, 2017
In today's post we take a look at a fine Planned Unit Development in nearby Oak Ridge. Willow Place is a 70 unit complex in the heart of Oak Ridge. Located close to shopping, business and restaurants, Willow Place is set up in a very urban and historic setting.
The homes are placed around winding streets and many look out to a green with a large gazebo. The styles of homes are quite traditional including: bungalows, ranches and 2 story homes with double porches, very traditional southern style.
The complex was started in 1999 and appears to have been mostly built out by 2005. Sizes of homes vary from 1200 sq ft to more than 2000. There are a number of custom homes in excess of 2000 square feet as well. Most of the homes are three bedroom and 2 baths with a 2 car garage.
The complex offers nice pathways for walking and connection to city greenways. The green in the middle of the complex is quite pretty and offers a large covered picnic area as well.
Pricing is in a rather large area from $160k or so for 1200 square foot home presently to more than $230k for the large homes.
If you have questions about real estate or homes in the Knoxville area? Please email me at email@example.com or visit my website at www.myknoxvillecondos.com
Friday, December 30, 2016
I post this with a big smile for the future. This is the last post, in the Obama Administration. I am glad to say so long. The last eight years have been difficult ones in Real Estate.
In saying good bye, I would like to mention a few of the memories:
Huge amounts of foreclosures: It was an amazing down turn when the mortgage industry finally got too greedy and discovered that relaxing lending standards is not the thing to do. It takes 3 things to make a good mortgage borrower. Good credit, good employment, some money. You can fudge one of the three and still have a good loan. But the mortgage industry tried to fudge all 3 in many cases thus.. the huge foreclosure numbers.
Dodd-Frank Bill: In trying to fix the problem, government stepped in and reformed it. NOT. This bill has cost the industry countless millions of dollars in compliance, education, work time lost, and many many potential home owners not being able to borrow because of it. Did the industry really need 307 additional rule requirements and 22,296 pages to go through?
FHA permanent MIP. Yes, need an FHA loan? Hope to get rid of the private mortgage insurance when you reach 20 plus % equity in your home? Nope, the fee is lifetime. What a buyer friendly thing to do...Thanks FHA.
62.9% home ownership: Yes that's the reality, we have the lowest amount of homeownership since 1965. Down from 68% in 2008. Drive around Knoxville and see all the rental complex's being built, ever wonder why? Well, I am sure there are many reasons, and the low home ownership rate is one of them.
THe Home Affordable Modification Program: Yes, it eventually worked out as a government HARP backed loan after 5 years of the HAMP. Leaving foreclosure reform to the banks? The program saved less than 1 million homeowners and left the other 10 million to be left on the street.
And lastly, I hope I never have to do another "Short Sale". What a terrible process for the banks, buyers, sellers and the realtors.
As 2017 dawns, I am very hopeful we have turned a corner and we now have an administration that values the real estate industry, homeownership and the mortgage industry as to how much it means to peoples lives, their financial stability and their future. I hope you share my optimism!!
Tuesday, November 29, 2016
Many of us took a sigh of relief a few weeks ago. The past 8 years in the real estate market had been difficult at best. Yes in deed, rates got to stay very low but beyond that there were few highlights.
Homeownership took a major dive over the last 8 years. The population owning homes going from almost 68% to about 63%. I have been trying to get folks out to take advantage of the great rates for years. But, there was some hesitancy. I could certainly understand why, with folks worried about employment, health care costs and carrying lots of debt.
Here in Knoxville the upper end, $300k or more has done great. Lots of new construction in that area. But, almost nothing in the $200k and under market. The median price for a house hear in Knoxville is around $140K.
The future, I am hoping will be better, I am hoping those good jobs continue to come to East TN. I am hoping that if rates adjust that it flattens out around 5%. And, just to note that is still a really good rate! I am hoping that the real estate market comes back and more folks can take advantage of the great prices and all that the Knoxville area has to offer. I am hoping that you most importantly are feeling good about the possibilities and you are ready to get back to homeownership or start to buy your first.
I am here to help, with comments or questions concerning real estate, condos, finance or any topic concerning owning a home. Please email me at firstname.lastname@example.org or visit my website at
Tuesday, October 11, 2016
Oak Ridge has some great condo and planned unit developments. One of those is nestled in large neighborhood of nice homes is Briarcliff.
Briarcliff condos is a fairly large complex of townhouses and one story units spread over 5 streets. Located just off Emory Valley Rd. The complex offers several different types of units, starting with a 2 story units consisting of 2 beds and 2 baths with just under 1400 square feet. 3three bedrooms and 2 baths with 1600 square feet or 3 bedrooms and 2 baths with 1800 square feet. All of these units were built in the mid 70's and offer a 2 car carport. 2nd floor main living space with a master bedroom deck and lower level bedroom with patio.
The complex was added to in 1989 and these homes offer 2 bedrooms and 2 baths over 1300 square feet and 3 bedrooms and 2 baths over 1575 square feet. The units are on one level.
The complex also offers a club house and swimming pool. Condo fees are modest and the complex seems to be well taken care of. It's appearance and location really benefit from being nestled in one of Oak Ridge's nicer neighborhoods.
If you have interest in condos in Oak Ridge or condos in the Knoxville area please email me at email@example.com or visit my website at www.myknoxvillecondos.com. Feel free to comment here as well.