865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Top 10 Knoxville Luxury Homes with Largest Price Reductions

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Knoxville real estate luxury homes price reductionsAre you in the market and looking for Knoxville luxury homes, but waiting on the market to give you a deal?  Oftentimes you can really see who is motivated to unload their Knoxville real estate by watching for large price reductions.  This often signals that sellers are tired of waiting and are ready to unload their property.  In the case of many luxury homes, affluent buyers many not have a mortgage on their property.  When this is the case, and paying off a balance isn’t an issue, you can sometimes buy a home for less money that it would take to reproduce it.  That being said, for all you deal hawkers out there, below are the luxury homes with the 10 largest, most recent, price reductions.

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Knoxville Real Estate: Great for First Time Home Buyer or Investor

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Knoxville real estate at 10203 Green Spring Lane, Knoxville, TN 37932If you are a first time home buyer, looking to downsize, or looking to invest perhaps in a Knoxville real estate rental, take note.  This home in the Plumb Creek Subdivision of West Knoxville is a real sleeper.  Zoned for Hardin Valley Academy and conveniently located off Lovell Road just minutes from the Pellissippi Parkway or Middlebrook Pike, it is a short drive to just about anything you need.  What really makes this home a sleeper are the recent updates completed by the owner that you wouldn’t typically find in a home in this price range.  New granite tops in the kitchen to go along with stainless steel appliances and a center island.  New granite counter tops, vanity, and tub with custom tile surround in the 2nd bath.  New granite tops, vanity, and shower in the Master Bath.  New deck. New HVAC unit.  Separate laundry room.  Storage shed located in the large, flat backyard.  Cul-de-sac location.  Currently listed at $148,500!  As far as Knoxville homes for sale go, it almost sounds too good to be true.  Call or text us at 865-999-0925 today, FAST, to schedule your private showing.

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Knoxville Real Estate: National Housing Market Predictions

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Knoxville Real Estate Housing Market PredictionsTroy Stavros, Broker and Partner with the 865 Real Estate team stated, “Whether it is when we are working with buyers looking at Knoxville homes for sale, speaking with our current sellers, speaking with past clients or talking with complete strangers, the question always comes up… What is happening with Knoxville real estate and where do you see it going?

Equipped with information from the National Association of REALTORS that was garnered at the recent 2012 Realtors Conference and Expo, the 865 Real Estate team shared the forecast. Stavros said, “With the important caveat that credit does not tighten further and a fiscal cliff is avoided, Knoxville home prices should continue to rise.” The 865 Real Estate team quoted NAR economist, Lawrence Yun who predicted a 6% increase in the median home price in 2012, followed by an increase of 5.1% in 2013, and comparable increases in 2014. Along with prices, sales are projected to increase each subsequent year as well. With 2012 seeing a 9% increase to 4.64 million, and 2013 increasing to 5.05 million, then 2014 to 5.3 million. The amount of distressed sales is predicted to decrease from about 25% in 2012 to only 8% in 2014. Economists saw mortgage interest rates increasing to and average of 4% in 2013 and moving higher to 4.6% in 2014 caused by inflationary pressure.

Stavros also noted that these predictions are for the national real estate market and reminded the 865 Real Estate team clients that Knoxville real estate has fared much better than most other markets. “Looking at the local market, with distinct indicators such as low inventory, buyer demand, and competitive bidding tells me there is only one place for our market to go, and that is up. The only reason I can see this not happening is if buyers cannot access money to buy Knoxville homes for sale, i.e. lending standards get tighter, or if there is a major governmental breakdown such as the fiscal cliff.”

Knoxville Real Estate: Energy Star Certified Homes in Knoxville!

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Energy_Star_Certified-Homes-Knoxville_Real_EstateThe 865 Real Estate team, the leading Knoxville real estate team at Gables & Gates, REALTORS has recently partnered with long time Knoxville builder/developer, Schaad Residential Construction, LLC to market their new Energy Star Certified homes in Knoxville. The team at the 865 Real Estate team is currently marketing the Energy Star Certified Knoxville homes for sale in the Sheffield Subdivision in Farragut, TN, and the Kensington Subdivision in West Knoxville.

According to sources at Energy Star, increasing energy costs and continuing growth of consumer demand for efficient products that do not sacrifice performance have been the driving force for new developments in energy efficiency and green building programs across the nation. The Energy Star program was birthed as a joint venture between the U.S. Environmental Protection Agency and the U.S. Department of Energy. The Energy Star Certification itself was designed to help builders meet high levels of energy performance while giving consumers the confidence of knowing their home systems are energy efficient.

Schaad Residential Construction has committed to 100% Energy Star built homes. Local Knoxville home buyers of Energy Star Certified, Schaad built homes, have confirmed what has been noted on the Energy Star website. That being huge results, like families saving about 1/3 the cost of their monthly energy bill. Couple that with the huge environmental benefits and the impact is tremendous. The website states that the energy savings in 2010 offset greenhouse gas emissions equal to the same output as 33 million cars, also equaling $18 billion in utility bill savings.

Troy Stavros, Broker and Partner with the 865 Real Estate team at Gables & Gates, REALTORS stated, “For the Knoxville real estate buyer, the benefits are both immediate and lasting. They will immediately benefit from lower utility bills and they will benefit in the future from increased resale value.”

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Knoxville Real Estate: You love 2 Knoxville homes. How do you choose?

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Knoxville real estate choices of homes you loveSo you’ve found two Knoxville homes for sale that you absolutely love.  In today’s market, because of dwindling inventory, there is serious competition between buyers. How do you quickly choose between them and pick a Knoxville real estate winner? Let’s take a look at what things to evaluate at when trying to decide between two great homes. If they are already similar in price, square footage, and features, then what? The following are some tips we suggested for getting one to rise to the top.

If the specifications on the top few homes are similar, it never fails to go back to the age old real estate mantra..location, location, location. First and foremost you should look at which physical location has better proximity to things that are important to you. Speaking of physical location, perhaps one of the Knoxville homes for sale faces a different direction. Think about where you would like the sun to be on your home during different times of the day. Maybe one is on a busier street and the other is in a cul-de-sac.  After looking at physical location, one should look at the quality of the neighborhood and it’s amenities, crime rates, and the quality of the schools.  This is a big investment, and a place you may be living for a long time, so don’t be afraid to go out and talk with some neighbors to get their opinions and a feel for the overall mood.  Neighbors love to see and talk with who is potentially moving in, and you can garner quite a bit of information from them.

As a Knoxville real estate team that is typically selling these same homes once the buyer needs to move up, down size, or relocate, the 865 Real Estate team always keeps resale value on the forefront of the mind’s of our clients.  Although they are just moving in and excited about a new home, we remind our clients that this is typically their largest investment, so we want to make sure it is a good investment when it comes time to sell. We’ve had more than one client choose one house over another because of our advice as to which would be more valuable when it comes time to sell.  And resale value may not only be decided by which home is in a better neighborhood, it could be decided on which home the buyer can get the better deal.