Farragut TN Archives - Page 14 of 15

July 2019 Knoxville Area Housing Market Snapshot

August 13, 2019 By Troy Stavros

Here’s how the current real estate market is doing through the end of July, all around Knoxville, compared to last year (including Knox County, Loudon County, Anderson County, Blount County, Monroe County, and Roane County, along with some select areas.)

Remember, real estate is hyper-local, meaning your county may show one thing but your specific subdivision or home may be doing something completely different. Contact me for an individual analysis!

Here is what is happening in the Farragut/West Knoxville/Hardin Valley real estate market compared to last year.

Home sales are down slightly in Farragut, compared to the same time last year. The median sales price is exactly the same at $385,000, and we’ve seen a very small increase in the amount of available inventory. There can be drastic differences depending on the price point you are in, so contact us for a more targeted assessment of your situation.

The 37922 zip code in West Knoxville saw a 4.54% jump in price, coming in with an average median sales price of $355,040, but home sales and available inventory are both down between 9-10%.

Hardin Valley saw a nice 6.02% jump in price, coming in with an average median sales price of $328,551, but home sales and available inventory are both down double digits.

South Knoxville saw a double-digit jump in the median sales price, coming in with an average of $156,900, but home sales and available inventory are both down BIG, well into the double digits!

Oak Ridge is knocking it out of the park with a 16.32% increase in the median sales price, coming in with an average of $176,465, with a whopping 19.4% annual increase in home sales and 7.3% more inventory compared to last year!

Lenoir City saw a nice increase in the median sales price, coming up 9.18% with an average price of $251,000, but home sales and available inventory dropped coming close to double digits.

Not seeing your particular zip code or area referenced above? View the stats for your specific zip code by clicking HERE.

Interested in what your personal home analysis would look like? Call or text me, Troy Stavros with CornerStone Realty Associates at 865-205-6899!

Guessing At How Much Home You Can Afford is a Mistake. Get Pre-Approved!

June 24, 2019 By Troy Stavros

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home in Tennessee is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

Capacity: Your current and future ability to make your payments
Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
Collateral: The home, or type of home, that you would like to purchase
Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential homebuyers in Knoxville overestimate the down payment and credit scores necessary to qualify for a mortgage. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so today. Contact me, Troy Stavros with CornerStone Realty Associates today and I can help you get this process started by recommending you to some amazing lenders.

Mortgage Interest Rates Hit New 12 Month Low!

March 1, 2019 By Troy Stavros

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!

Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.

Freddie Mac’s Chief Economist, Sam Khater, had this to say:

“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.

Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”

Bottom Line

If you plan on buying a home in Knoxville this spring, meet with a local real estate professional who can help prepare you for today’s market before rates increase!

Only $79,000 in Farragut’s Battery at Berkeley Park

May 16, 2017 By Troy Stavros

This listing is no longer available.

Hard to find lot in Farragut for under $80,000. Maintenance free subdivision offers yard maintenance. Short walk down the sidewalk to the subdivision pool and clubhouse. Lot could take a tall crawl space or a basement. Contact me, Troy Stavros with Gables & Gates, REALTORS at 865-777-9191 for more details.

12901 Lady Slipper Lane, Knoxville, TN 37934 by Troy Stavros

January 3, 2016 By Troy Stavros

SOLD IN 17 DAYS! The living is easy in this beautifully updated Farragut home nestled on a private cul-de-sac located at 12901 Lady Slipper Lane, Knoxville, TN 37934. Watch sunsets while relaxing in the screened porch, looking out over a 50 acre horse farm or watch as play ensues below in the large flat backyard. The floor plan encompasses four bedrooms (2 master suites on the main level, both with plenty of closet space and one being handicap accessible), 2 more bedrooms and a bonus up, three full bathrooms, and a sleek and stylish kitchen that flows to the family room and private screened porch. The kitchen is highlighted by a breakfast area featuring a large picture window with long views of the horse farm, stainless steel appliances, gas cooktop, island, granite counters, and tons of cabinet space. 1850SF of unfinished basement! Zoned Farragut Primary, Farragut Elementary, Farragut Middle, and Hardin Valley Academy. For more information or to schedule a private viewing call Troy Stavros with Gables & Gates, REALTORS at 865-999-0925.

12901 Lady Slipper Lane, Knoxville, TN 37934

$377,000

Property Type: Single Family Bedrooms: 4 Square Footage: 3,225 Status: Closed

Current Price: $377,000 List Date: 1/04/2016 Last Modified: 9/28/2021

Description

The living is easy in this beautifully updated Farragut home nestled on a private cul-de-sac. Watch sunsets while relaxing in the screened porch, looking out over a 50 acre horse farm or watch as play ensues in large flat backyard. The floor plan encompasses four bedrooms (2 master suites on the main level, both with plenty of closet space and one being handicap accessible), 2 more bedrooms and a bonus up, three full bathrooms, and a sleek and stylish kitchen that flows to the family room and private screened porch. The kitchen is highlighted by a breakfast area featuring a large picture window with long views of the horse farm, stainless steel appliances, gas cooktop, island, granite counters, and tons of cabinet space. 1850SF of unfinished basement! Zoned Farragut Elem, Middle, and HVA.

More Information MLS# 949480

Location Tax Legal Info

House #: 12901 Street Name: Lady Slipper St Suffix: Lane State/Province: TN Zip Code: 37934 Property Sub-Type: Residential PIN #: 151ce018 Subdivision: Orchid Grove Geo Lat: 35.871946 Geo Lon: -84.226542

Contract Info

Auction Y/N: No Listing Price: 400000 Current Price: $377,000 Status: Closed Listing Date: 2016-01-03

General Property Description

Type: 2 Story Site Built: Yes Restrictions: Yes SqFt - Total (Aprox): 3225 SqFt - Main Lvl: 1850 SqFt - Down Lvl: 1850 SqFt - 2nd Flr Lvl: 1375 # Bedrooms: 4 Baths - Full: 3 # of Rooms: 8 Fireplace: Yes # Fireplace: 1 Property Status: N/A HOA: Mandatory HOA Fee: 200 HOA Freq: Yearly HOA Contact: . Year Built: 2000 Bonus Room: Yes

Status Change Info

Status Change Date: 2016-02-19 Under Contract Date: 2016-01-20 Sold Date: 2016-02-19 Sold Price: $377,000

Sewer

Sewer Info: Utility

Water

Water Info: Utility

Property Features

Style: Traditional Construction: Brick Siding: Brick; Fiber Cement Basement: Plumbed; Unfinished; Walkout Lot Description: Cul-De-Sac; Level; Rolling Slope View: Country Setting; Wooded Fireplace: Gas Log Floors: Carpet; Hardwood; Tile Fuel: Electric; Gas (Natural) Heat: Central; Forced Air Cooling: Ceiling Fan(s); Central Cooling Appliances: Dishwasher; Disposal; Microwave; Range; Refrigerator; Smoke Detector Other Rooms: Bedroom Main Level; Extra Storage; Family Room; Laundry/Utility; Mstr Bdrm Main Level; Split Bedroom Misc Features: Cathedral Ceiling; Handicap Accessible; Internet Available; Island in Kitchen; Pantry; Walk-in Closets; Walk-in Shower; Washer/Dryer Connect; Whirlpool Tub; Wired for Internet Exterior Features: Deck; Patio; Porch - Covered; Porch - Screened; Prof Landscaped; Windows - Insulated Dining Area: Eat-in Kitchen; Formal Dining Area Community Amenities: Architect Restricted Association Fee Incl: Other Showing: See Agent Instructns New Financing: Cash; Conventional; FHA; New Loan; VA Loan

Room Information

Master Bedroom Room Level: Main Room Remarks: 1ST MASTER ON MAIN LEVEL Master Bedroom Room Level: Main Room Remarks: 2ND MASTER ON MAIN LEVEL Bedroom 3 Room Level: Second Room Remarks: LARGE 3RD BEDROOM Bedroom 4 Room Level: Second Room Remarks: LARGE 4TH BEDROOM Bonus Room Room Level: Second Room Remarks: BONUS OPEN TO BOTH UPPER BEDROOMS Kitchen Room Level: Main Room Remarks: ISLAND, GRANITE TOPS, STAINLESS APPL Eat In Breakfast Area Room Level: Main Room Remarks: PICTURE WINDOW OVERLOOKING FARM Dining Room Room Level: Main Room Remarks: SUITABLE FOR A LARGE DINING TABLE Family Room Room Level: Main Room Remarks: HARDWOOD FLOORS AND FIREPLACE Utility Room Room Level: Main Room Remarks: 2 LAUNDRY AREAS MAIN LVL AND BSMT Garage Room Level: Main Room Remarks: LESS THEN 1 STEP INTO THE HOUSE Other Room Level: Basement Room Remarks: 1850SF UNFINISHED BASEMENT

Listing Office: Gables & Gates, REALTORS

Office Phone: 865-777-9191

Last Updated: September - 28 - 2021

12901 Lady Slipper Lane, Knoxville, TN 37934- MLS# 949480

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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3 Questions To Ask Yourself Before Buying A Home in Farragut

April 21, 2015 By Troy Stavros

Have you been kicking around the idea of buying a home in Farragut or Knoxville? If you are, I’m sure you are getting lots of advice. Friends and family, who no doubt have your best interests in mind, can be a great resource to bounce ideas off of, but they might not be fully aware of the current state of the Farragut real estate market. There are many factors that go into buying a home, but let’s take a look at whether now is a good time as far as current market conditions.

If you are thinking of buying a home in Farragut or Knoxville, here are 3 questions to ask yourself before buying a home in today’s market:

Question #1: What is the reason that I’m buying a home for in the first place?

Of all the questions, this is really the most important. Finances aside, what is the reason you want to buy? Because usually the reason has nothing to do with finances. The Joint Center for Housing Studies at Harvard University recently conducted a study which revealed that there are 4 reasons why people buy a home, and none of them have to do with money. Here are the reasons:

Looking for a good place to raise children and for them to get a good education
Looking for a place where you and your family can feel safe
Looking for more space for you and your family
Looking to control the space you live in

Now don’t get me wrong, Harvard is great, but the real reason I know the points above are true is because it’s what I hear from my buyers. In fact, I just heard it again today over lunch with a client I have relocating from California.

So what benefits (non-financial) will you and your family get from owning a home in Farragut? This question is important, because it should be the top reason you decide whether to buy or not.

Question #2: Where are the home prices headed?

I don’t have a crystal ball, but I do have some very smart experts that I follow. These experts put out the “Home Price Expectation Survey.” Every 3 months, a nationwide panel of over 100 economists, real estate experts, and investment and market strategists are surveyed as to where they feel prices are headed over the next 5 years. The report then takes those 100+ expert projections and averages them into a single number.

Here are the expert projections from the latest survey:

Home values will appreciate by 4.4% in 2015.
By 2019 the cumulative appreciation will be 19.3%.
Even the most conservative of the experts are still projecting a cumulative appreciation of over 11.9% by 2019.

Question #3: Where are mortgage rates headed?

When buying a home, unless you are paying cash, you need to be equally concerned about mortgage rates and where they are headed. Why? Because your mortgage rate directly effects how much money you are paying out every month as well as how much extra interest you pay over the life of the loan.

The National Association of REALTORS®, Mortgage Bankers Association, and Freddie Mac all project that mortgage interest rates will increase by approximately one whole percentage point over the next year.

What does this mean for you?

Only you really know when it’s the right time to buy your next home, or your first home, but answering the questions above might help you make an educated decision. Hopefully sooner than later because we know if prices and interest rates are expected to rise, either you will spend more money to afford the same house a year from now, or you will pay the same amount of money and be forced to buy something less expensive. Numbers are very important, but even more important is the real reason why you want to move. Is it time? If you have any questions about buying a home in Farragut or Knoxville or are looking for expert assistance, don’t hesitate to call or text me, Troy Stavros with Gables & Gates, REALTORS at 865-999-0925. I’d love to help. I’m here to serve you!

CLICK HERE TO FIND OUT WHAT YOUR HOME COULD SELL FOR!

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