Knoxville Tennessee Real Estate Blog

This very motivated seller is willing to do a lease purchase on this beautiful country home in north Knoxville.

Here’s the latest real estate property transfers as reported by the Knox County, Tennessee Register of Deeds.

Year to date Knox County has been averaging around 150 transfers (sales) a week. The week just passed reported 135 sales which is a bit below the average. I’m putting that down to the fast approaching Christmas week and other things than home buying on people’s minds.

You’ll notice from past reports that even the hot $100,000 to $150,000 price range sank down a little this past week.

I’m starting to hear from mortgage bankers all over the country that interest rates are on the rise and we will almost certainly be looking at 6% rates sometime before mid 2010, probably in the early months.

Of course 6% is a pretty phenomenal rate, I remember back about 30 years ago when I bought my first house and got an 8% fixed rate. I thought that was the best thing possible, which of course at that time it was.

If you’re thinking if buying, NOW is a great time. The $8,000 tax credit that most buyers will qualify for expires at the end of April in 2010 and I’m betting it will not be renewed again.

Even existing home owners can now get up to $6,500 if they buy another home for their principal residence AND your existing home does not have to be sold for you to qualify.

There is still a huge selection of homes for sale and motivated (for now) sellers are willing to make deals to entice buyers to buy their house over another.

And finally interest rates are still very, very attractive.

So putting all these factors together makes this sort of a perfect storm for home buyers.

www.KnoxvilleHomeCenter.com is the ‘go to’ place to see all Knoxville and Farragut Realtor listings as wells as many surrounding counties. Come on in and have a look around, you might find that “just right” home for you and your family.

Please feel free to leave your comments or email me with any questions.

Best wishes to everyone for a very Merry Christmas and a Happy 2010!