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East Tennessee Real Estate & Neighborhood Source

1615 Douglas Wood Lane in South Knoxville!

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UNDER CONTRACT! Situated just before a cul-de-sac, this home with a rocking chair front porch features a popular 3 bedroom plus bonus room floor plan and boasts upgrades such as hardwoods downstairs and upstairs (no carpet!), screened porch and covered porch in the back overlooking the level fenced yard, eat-in kitchen with island, pantry and stainless appliances, separate laundry room and more. Contact me, Troy Stavros with CornerStone Realty Associates today to set up your private showing at 865-999-0925 (call or text.)

1615 Douglas Wood Lane, Knoxville, TN 37920

$235,000
Property Type: Single Family Bedrooms: 3 Square Footage: 2,192 Status: Closed
Current Price: $235,000 List Date: 7/18/2019 Last Modified: 12/21/2023

Overview

Description

Situated just before a cul-de-sac, this home with a rocking chair front porch features a popular 3 bedroom plus bonus room floor plan and boasts upgrades such as hardwoods downstairs and upstairs (no carpet!), screened porch and covered porch in the back overlooking the level fenced yard, eat-in kitchen with island, pantry and stainless appliances, separate laundry room and more. Don't snooze on this one, as it will be gone FAST!

Listing Details MLS# 1087848

Location Tax Legal Info

House #
1615
Street Name
Douglas Wood
St Suffix
Lane
State/Province
TN
Zip Code
37920
PIN #
148cg061
Subdivision
Woodcreek Reserve

Contract Info

Auction Y/N
No
Listing Price
227000

General Property Description

Type
2 Story
Site Built
Yes
Restrictions
Yes
SqFt - Total (Aprox)
2192
SqFt - Main Lvl
896
SqFt - 2nd Flr Lvl
1296
# Bedrooms
3
Baths - Full
2
Baths - 1/2
Yes
# of Rooms
7
Fireplace
Yes
# Fireplace
Yes
Property Status
N/A
HOA
Mandatory
HOA Fee
120
HOA Freq
Yearly
HOA Contact
Southland Properties 865-694-6100
Year Built
2013
Bonus Room
Yes
SqFt - Down Lvl
0
SqFt - 3rd Flr Lvl
0
Basement
No

Status Change Info

Status Change Date
2019-08-24
Under Contract Date
2019-07-30
Sold Date
2019-08-23

Sewer

Sewer Info
Utility

Water

Water Info
Utility

More Information

Location, Tax & Legal Info

Area
Knox County - 1
Property Sub-Type
Residential
Community
South Knoxville
City/County Code
County
Elementary School
Bonny Kate
Middle School
South Doyle
Total Tax
1074
High School
South Doyle

Remarks & Misc

Directions
W. Governor John Sevier Hwy to SOUTH on Martin Mill Pike which turns into Tipton Station Road to LEFT on Poplar Wood Trail to RIGHT on Douglas Wood Lane. Home on LEFT just before cul-de-sac. SIGN IN YARD.
Public Remarks
Situated just before a cul-de-sac, this home with a rocking chair front porch features a popular 3 bedroom plus bonus room floor plan and boasts upgrades such as hardwoods downstairs and upstairs (no carpet!), screened porch and covered porch in the back overlooking the level fenced yard, eat-in kitchen with island, pantry and stainless appliances, separate laundry room and more. Don't snooze on this one, as it will be gone FAST!

Fencing

Fenced Yard
Yes
Privacy
Yes
Wood
Yes

Atchd/Dtchd Type

Detached
Yes

Style

Traditional
Yes

Construction

Frame - Brick
Yes

Siding

Brick
Yes
Vinyl
Yes

Fireplace

Gas Log
Yes

Cooling

Ceiling Fan(s)
Yes
Central Cooling
Yes

Floors

Hardwood
Yes
Laminate
Yes

Garage/Parking

Garage Spaces
2
Attached
Yes
Garage Door Opener
Yes
Main Level
Yes

Basement

Crawl Space
Yes

Lot Description

Cul-De-Sac
Yes
Level
Yes

Fuel

Electric
Yes
Gas (Natural)
Yes

Heat

Central
Yes
Forced Air
Yes

Community Amenities

Architect Restricted
Yes
Sidewalks
Yes

Dining Area

Eat-in Kitchen
Yes
Formal Dining Area
Yes

Appliances

Dishwasher
Yes
Disposal
Yes
Microwave
Yes
Range
Yes
Self Cleaning Oven
Yes
Smoke Detector
Yes

Other Rooms

Family Room
Yes
Laundry/Utility
Yes

Exterior Features

Patio
Yes
Porch - Covered
Yes
Porch - Screened
Yes
Prof Landscaped
Yes
Windows - Insulated
Yes
Windows - Vinyl
Yes

Misc Features

Internet Available
Yes
Kitchen Island
Yes
Pantry
Yes
Walk-in Shower
Yes
Walk-In Closet(s)
Yes
Washer/Dryer Connect
Yes
Whirlpool Tub
Yes
Wired for Internet
Yes

New Financing

Cash
Yes
Conventional
Yes
FHA
Yes
New Loan
Yes
USDA/Rural
Yes
VA Loan
Yes

Showing

See Agent Instructns
Yes

Property Features

Style: Traditional Construction: Frame - Brick Siding: Brick; Vinyl Basement: Crawl Space Lot Description: Cul-De-Sac; Level Fireplace: Gas Log Floors: Hardwood; Laminate Fuel: Electric; Gas (Natural) Heat: Central; Forced Air Cooling: Ceiling Fan(s); Central Cooling Appliances: Dishwasher; Disposal; Microwave; Range; Self Cleaning Oven; Smoke Detector Other Rooms: Family Room; Laundry/Utility Misc Features: Internet Available; Kitchen Island; Pantry; Walk-in Shower; Walk-In Closet(s); Washer/Dryer Connect; Whirlpool Tub; Wired for Internet Exterior Features: Patio; Porch - Covered; Porch - Screened; Prof Landscaped; Windows - Insulated; Windows - Vinyl Fencing: Fenced Yard; Privacy; Wood Dining Area: Eat-in Kitchen; Formal Dining Area Community Amenities: Architect Restricted; Sidewalks Showing: See Agent Instructns New Financing: Cash; Conventional; FHA; New Loan; USDA/Rural; VA Loan

Room Information

Room Name
Family Room
Kitchen
Eat In Breakfast Area
Dining Room
Master Bedroom
Bedroom 2
Bedroom 3
Bonus Room
IDX
Listing Office: Doorbell Real Estate
Office Phone: 888-388-3667
Last Updated: December - 21 - 2023
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.
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4 Tips To Sell Your Home Faster

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4 Tips to Sell Your Home Faster | MyKCM

Since June of last year, we have seen an increase in the inventory of homes for sale month per month. Every spring and summer, the inventory increases because people want to sell their home. For those with children, they may want to be in their new home for the beginning of the school year.

If you are one of those sellers, you may find these 4 tips helpful in getting your home sold more quickly.

1. Make buyers feel at home

Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make them feel like they belong in this house! According to the Profile of Home Staging by the National Association of Realtors,

“83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house spend less time on the market, but the same report mentioned that,

“One-quarter of buyers’ agents said that staging a home increased the dollar value offered between 1 – 5%, compared to other similar homes on the market that were not staged.”

2. Keep it organized

Since you took the time to declutter, keep it organized! Before the buyers show up, pick up toys, make the bed, and put away clean dishes. It is also a good idea to put out some cookies fresh from the oven or a scented candle. Buyers will remember the smell of your home! According to the same report, the kitchen is one of the most important rooms to stage in order to attract more buyers.

3. Give buyers full access

One of the top four elements when selling your home is access! If your home is available anytime, that opens up more opportunity to find a buyer right away. Some buyers, especially those relocating, don’t have much time available. If they cannot get into the house, they will move on to the next one.

4. Price it right

As we mentioned at the beginning, more inventory coming into the market guarantees there will be some competition. You want to make sure your home is noticed. The key to selling your house in 2019 is ensuring it is Priced to Sell Immediately (PTSI). That way, your home will be seen by the greatest amount of buyers and will sell at a great price before more competition comes to market!

Bottom Line

If you want to sell your house in the least amount of time at the best price with as little hassle as possible, a local real estate professional is a useful guide.

Have questions, or ready to get your home on the market? Contact me, Troy Stavros with CornerStone Realty Associates today at 865-999-0925 to set up a time to talk!

Where Are Home Prices Going This Year and Beyond?

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Home Price Appreciation Forecast | MyKCM

Questions continue to come up about where home prices will head throughout the rest of this year, as well as where they may be going over the few years beyond.

I’ve gathered current data from the industry’s most reliable sources to help answer these questions:

The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.

Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.

Zelman & Associates – The firm leverages unparalleled housing market expertise, extensive surveys of industry executives, and rigorous financial analysis to deliver proprietary research and advice to leading global institutional investors and senior-level company executives.

Freddie Mac – An organization whose mission is to provide liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.

The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.

Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets.

Here’s the home price appreciation these experts are projecting over the next few years:

Home Price Appreciation Forecast | MyKCM

Bottom Line

Every source sees home prices continuing to appreciate, which is great news for the strength of the market and great news for homeowners. The increase is steepest throughout the rest of 2019, and prices should continue to rise as we move through 2020 and beyond.  If you are a home buyer, that means homes are only going to get more expensive, so the sooner you buy the better.

Have questions or want to get the process started? Contact me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 and let’s set up a time to talk.

5 Powerful Reasons to Own Your Home Instead of Renting

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5 Powerful Reasons to Own Instead of Rent | MyKCM

Owning a home has great financial benefits.

In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained:

“Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in ‘default’ savings with mortgage amortization and nominally fixed payments, and the potential to lower home maintenance costs through sweat equity.”

Let’s breakdown 5 major financial benefits of homeownership:

1. Housing is typically the one leveraged investment available

Homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. A 20% down payment results in a leverage factor of five, meaning every percentage point rise in the value of your home is a 5% return on your equity. If you put down 10%, your leverage factor is 10.

Example: Let’s assume you purchased a $300,000 home and put down $60,000 (20%). If the house appreciates by $30,000, that is only a 10% increase in value but a 50% increase in equity.

2. You’re paying for housing whether you own or rent

Some argue that renting eliminates the cost of property taxes and home repairs. Every potential renter must realize that all the expenses the landlord incurs (property taxes, repairs, insurance, etc.) are baked into the rent payment already – along with a profit margin!!

3. Owning is usually a form of “forced savings”

Studies have shown that homeowners have a net worth that is 44X greater than that of a renter. As a matter of fact, it was recently estimated that a family buying an average priced home this past January could build more than $42,000 in family wealth over the next five years.

4. Owning is a hedge against inflation

House values and rents in Knoxville tend to go up at or higher than the rate of inflation. When you own, your home’s value will protect you from that inflation.

5. There are still substantial tax benefits to owning

We know that the new tax reform bill puts limits on some deductions on certain homes. However, in the research paper referenced above, the authors explain:

“…the mortgage interest deduction is not the main source of these gains; even if it were removed, homeowners would continue to benefit from a lack of taxation of imputed rent and capital gains.”

Bottom Line

From a financial standpoint, owning a home in Knoxville has always been and will always be better than renting. Have questions or want to game plan on how you can buy a home? Contact me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 today!

It’s a Great Time to Move-Up and Upgrade Your Current Home!

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Now’s the Time to Move-Up and Upgrade Your Current Home! | MyKCM

Homes priced at the top 25% of the price range for a particular area of the country are considered “premium homes.” In today’s real estate market, there are deals to be had at the higher end! This is great news for homeowners in Tennessee wanting to upgrade from their current house.

Much of the demand for housing over the past couple of years has come from first-time buyers looking for their starter home. Many of the more expensive homes listed for sale have not seen as much interest.

According to ILHM’s Luxury Report, this mismatch in demand and inventory of luxury and premium homes has created a Buyer’s Market. For the purpose of the report, a luxury home was defined as one that costs $1 million or more.

“A Buyer’s Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.”

The authors of the report were quick to point out that current conditions at the higher end of the market are no cause for concern.

“While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels and larger differences between list and sold prices, represent a normalization of the market, not a downturn.”

Luxury can mean different things to different people. To one person, luxury is a secluded home with plenty of property and privacy. To another, it could be a penthouse at the center of a bustling city. Knowing what characteristics mean luxury to you will help your agent find you the home of your dreams.

Bottom Line

If you are debating upgrading your current house to a premium or luxury home, now is the time! Contact me, Troy Stavros with CornerStone Realty Associates today, and let’s set up a time to sit down and talk about your goals.

10 Steps to Buying a Home This Summer in Knoxville [INFOGRAPHIC]

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10 Steps to Buying a Home This Summer [INFOGRAPHIC] | MyKCM

Some Highlights:

  • If you are thinking of buying a home, you may not know where to start.
  • Here is a simple list of 10 steps that you will go through to purchase a home.
  • Make sure to ask your agent for details about each step and what else may be required in your area!