Knoxville luxury home for sale at 5332 Bent River Boulevard, Knoxville, TN 37919 on 2.5 acres located in the exclusive Harrison Keepe Neighborhood in the Lyons Bend area of West Knoxville. 5 bedrooms, 5 full and 2 half baths plus incredible outdoor living areas and ultimate fitness room with endless pool. Â Backyard paradise with lush resort landscaping and custom heated gunite swimming pool with stone waterfall. Â Owner’s suite with adjacent study on the main level. Â Guest suite on main level as well. Â Large media room. Â Contact the 865 Real Estate team today for more information or to schedule your private showing.Â
It’s Still A Great Time For Buying A Home In Knoxville
Was buying a home in Knoxville cheaper six months ago? YES. Is it still a GREAT time for buying a home in Knoxville? YES!
Limited inventory and rising prices have created a seller’s market in Knoxville and we are seeing buyers competing fiercely for homes, even to the point of bidding wars, but that doesn’t mean that it’s still not a great time for buying a home in Knoxville.
Here is why:
- Â HOME PRICES ARE STILL RISING
Because the housing market bottomed, reaching it’s lowest point in March of 2012, the price gains that we have seen recently still leave plenty of room for the home values to climb. What is causing the rising prices? Lack of supply, which is the result of slower homebuilding activity, diminishing foreclosures, and sellers slow to come to market because they are waiting for prices to increase further (much of this is because sellers who purchased during the height of the market owe more on their homes than their current value).
- RATES ARE LOW BY HISTORICAL STANDARDSÂ
Mortgage rates, currently hovering around 4.6 percent, have increased by a full percentage point since May – but they are still lower than they were just two years ago and far lower than the long-term average of about 8 percent.
- GETTING A HOME LOAN IS SOMEWHAT EASIER
Because of the rising interest rates, less people will be refinancing, making banks more willing to work with homebuyers. Â Don’t get me wrong, the days of the “no-documentation”, “no down payment” days are long gone, but credit is available for borrowers who are qualified.
- OWNING A HOME IS STILL CHEAPER THAN RENTING
Even taking the recent price and rate increases into account, it is cheaper to buy than to rent in all 100 of the largest real estate markets, according to an analysis by Trulia.com. Nationwide, assuming a buyer stays in a home for at least 7 years, it is 37 percent cheaper to buy than to rent. Actually, studies show that in 78 of the largest 100 markets, rates would have to more than double to over 10 percent for markets to tilt in favor of renting.
- INVESTOR COMPETITION IS DECREASINGÂ
Many of the factors stated above are driving investors out of the market.  The reduced amount of foreclosures coupled with rising prices are making investors lose interest.  Chief Economist with the National Association of Realtors, Lawrence Yun stated, “Investors are recalculating their numbers, because it might make less sense for them to buy in order to flip or rent now. That’s an opportunity for primary owner-buyers to have less competition and still a historically favorable environment, even if affordability is weaker.”
As you can see, it’s still a great time for buying a home in Knoxville. Â But make no mistake, prices are still increasing and rates may as well. Â The sooner you can buy the better. Â Contact us today to get started!
12121 Brookstone Drive, Knoxville, TN 37934 for sale in Brixworth
New Listing! Knoxville home for sale at 12121 Brookstone Drive, Knoxville, TN 37934 in Farragut’s Brixworth Subdivision. 4 bedrooms, 3.5 baths plus a bonus room. Â Great open floor plan features a vaulted family room with fireplace and built-ins, updated kitchen with new granite counters and appliances. Â Hardwoods throughout the majority of the main level including the main level master bedroom. Â Awesome backyard with mature trees and professional landscaping kept lush by the irrigation system. Circular driveway to courtyard garage. Brixworth Subdivision features the following amenities: Neighborhood clubhouse, swimming pool, basketball courts, and tennis courts and is located across the street from the lake and an easy walk to Anchor Park. Zoned for ALL FARRAGUT SCHOOLS.
7647 Charlton Drive, Knoxville, TN 37920 Custom Lake Home For Sale
Custom Knoxville Lake Home for sale at the end of a secluded street at 7647 Charlton Drive, Knoxville, TN 37920. Â Convenient to hospitals, Knoxville airport, and the University of Tennessee and Downtown Knoxville. Â The home features 4 bedrooms and 4.5 baths and over 5900 square feet. Situated on 2.27 acres with a gentle slope to the water and the large, two story, floating dock with hydro hoist lift. Stunningly updated kitchen and bathrooms, hardwood floors, and million dollar views make this a MUST SEE home.
Top Reasons You Should Sell Your Knoxville Home NOW!
With low mortgage interest rates and depressed home prices, the last few years have garnered a lot of talk about how great a time it is to buy a home in Knoxville. While that has absolutely been true, let’s talk about why it might also be a great time to sell your Knoxville home. Here are some reasons why right now may be the perfect time to put your Knoxville home on the market.
First reason is HIGH DEMAND. Knoxville home buyers are serious about buying and are out in full force, holding true to what we are seeing on a national level where buyer traffic is 31% stronger than a year ago. National statistics are showing that homes are selling at the fastest pace since the market spiked in response to the home buyer tax credit. The latest National Association of REALTORS Existing Home Sales Report showed that monthly sales increased 9.7% over the same month last year. Total sales have been above year-ago levels for 22 consecutive months.
The second reason is that inventory is beginning to increase. Nationally, total housing inventory last month rose to a 5.2-month supply at the current sales pace, compared with 4.3 months in January. Many experts expect inventory to continue to rise as more sellers are again above water on their mortgages as a result of rising home prices. Selling your Knoxville home now, while demand is still high and before supply increases may get you top dollar.
The third reason is increasing competition with new construction. Â The last few years, sellers haven’t had to compete with new homes, but with low inventory levels, and a recovering market, more builders are ramping up their construction. Â As they get more comfortable they will build more homes, thus increasing the competition with your existing home. Better to sell now, with less competition from new, energy efficient homes with modern amenities.
The fourth reason is rising interest rates.  According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year mortgage have jumped to 3.98% which represents an increase of more than ½ point since the beginning of the year. Economists across the board seem to be projecting interest rates to keep rising. The longer you wait to sell, the higher your interest rate will likely be when purchasing your next home.
The final reason is lifestyle. Â Why is it that you are looking to sell your Knoxville home in the first place? Â What is more important right now, a few more dollars or moving on with your life? Â Perhaps you are selling to get closer to family, or looking to retire to a different area, or downsizing financially to give yourself more freedom. When you weigh the benefit of a few more dollars against the real reason you are selling, it most likely gives you the biggest reason to sell your home now.
Thinking of selling your Knoxville home? The time is now!
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