UPDATE: SOLD! Two story basement home in private cul-de-sac located in West Knoxville’s Walnut Grove neighborhood at 13107 Naylor Ridge Lane, Knoxville, TN 37922. Featuring 4 bedrooms and 3.5 baths. Eat-in Kitchen with loads of granite counter space opens directly to the family room with a fireplace. Office with french doors on the main level bookends the foyer with the formal dining room. The 2nd level includes a huge master bedroom suite with dual sinks, whirlpool tub, and shower,  2 additional bedrooms, laundry room and a bonus room. Venture down to the basement which features a rec room, 4th bedroom, full bath, and large custom woodworking shop! The deck off the family room and kitchen overlooks a large, flat, fenced backyard. Neighborhood features a swimming pool and is zoned for the brand new Southwest Elementary School, Farragut Middle, and Farragut High School.

UPDATE: SOLD! New listing in one of Farragut’s most sought after neighborhoods… Wentworth.  It is not often that you can find Knoxville homes for sale in Wentworth at this price point.  This home located at 336 Gwinhurst Road, Knoxville, TN 37934 is the perfect Farragut home to get yourself into the neighborhood at an affordable price.  The home features 4BR, 3.5BA featuring an enormous main level master bedroom suite.  The large eat-in kitchen looks into the vaulted family room with fireplace. Off the eat-in kitchen is a doorway to the backyard featuring at 28 foot deck.  Upstairs the theme of large bedrooms continues, with 3 additional bedrooms. One featuring it’s own private bath. Along with the 3 bedrooms is a spacious bonus room.  3rd floor walk-up attic storage and a 3 car garage.  The Wentworth neighborhood features sidewalks, street lamps, neighborhood pool, tennis courts, basketball court, and walking trails. Call us today at 865-999-0925 before this home slips away.  It will go fast!

The 865 Real Estate team, the leading Knoxville real estate team at Gables & Gates, REALTORS is assisting a client in the short sale of their Knoxville home for sale at 695 Oak Chase Boulevard, Lenoir City, TN 37772 in the Avalon Golf Community.

The home is less than 5 minutes to Farragut, TN and 10 minutes to the Turkey Creek Shopping plaza. The Avalon community features easy access to the interstate so it is only a short commute to private schools like the Webb School, Concord Christian School and CAK (Christian Academy of Knoxville). The prime golf location allows you to walk out the back door to the 12th green of the Championship 18 hole Avalon Golf Course. On site amenities include a golf clubhouse with pro shop, bar, and grill and a separate clubhouse with swimming pool.

What is a short sale? It is when a seller, who may be facing the threat of foreclosure enters into an agreement with their bank/lender to accept a price for their property that is less than the amount they actually owe on it. The seller makes no profit on the sale but avoids many of the problems that would come from a foreclosure.

Some of the seller’s possible advantages with a short sale are the avoidance of the time consuming foreclosure process, and the prevention of the negative impact a foreclosure can have on their credit score. In a short sale situation, the seller and the bank/lender work together to determine the details of the agreement, but typically sellers who complete a short sale can avoid owing the balance due. The obvious advantage to buyers is the prospect of moving into a property at a great discount.

So why would a lender accept a short sale if they are losing money? By accepting a short sale, banks/lenders don’t have to worry about dealing with the long, expensive foreclosure process. Priority #1 for lenders is to try to get their money back, and they typically want to avoid taking responsibility for selling a home. Statistics show that a bank/lender will net more from a short sale that they will from a foreclosure, so short sales can be a good thing for a lender.

Troy Stavros, Broker and Partner with the 865 Real Estate team at Gables & Gates, REALTORS stated, “If you are a buyer considering entering into a short sale, or looking at Knoxville homes for sale, it would be wise to consult with a Knoxville real estate agent who can answer your questions and help you navigate the often time consuming process. Short sales have a stigma for taking a long time to complete, but that is typically because of incorrect or missing paperwork. An experienced real estate professional can help eliminate those road blocks and get you into your new home faster.”