Knoxville Tennessee Real Estate Blog

The past weeks real estate activity showed a little bit higher activity with 160 Knox County real estate transfers recorded at the Knox County Register of Deeds office.

Knox County, Tennessee real estate transfers

As in previous weeks, the ‘action’ remains in the lower to mid price ranges with the $100,000 to $150,000 price points dominating the statistics. I believe this is being driven by:

• The lowest interest rates in history which can give you a house payment cheaper than rent.
• A huge backlog of unsold homes with motivated sellers offering big discounts and/or buyer incentives to get their homes sold.
• The $8,000 federal tax credit buyers that have not owned a home in the past 3 years can collect up until December 1st of this year.
• A number of other incentives designed to attract buyers such as the Tennessee Housing Development Authorities (THDA) program to advance buyers up to 3 1/12% of the purchase price as a down payment and then be repaid when that buyer collects on their tax credit.

One puzzling thing to me is that typically a sale of a lower priced home used to result in that successful seller moving up into a bit higher priced home and that doesn’t seem to be happening here. I wonder where all these sellers of $100 to $150,000 homes are going?

If you’re a buyer in any price range there are some excellent homes to choose from; here’s the Knoxville Home Centers ‘catalog of homes’ to browse.

Call me at (865) 693-3232 or email to take a look at any of the homes displayed. Here’s a few that look especially appealing.

Appealing 3 bedroom, 2 bath, and just $124,900

This all brick beauty is in a convenient location and offers 3 BRs, 2 Baths, and a bargain price tax of $139,900

West in the Cedar Bluff/Karns area, a 'short sale' at only $134,900