Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, national and Knoxville real estate had one of its best years ever. Home sales and prices in Knoxville were both up substantially over the year before. 2020 was so strong that many now […]
Chances of Another Foreclosure Crisis in Knoxville? About 0%
There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis in Knoxville like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a robust forbearance program. During the housing crash of 2006-2008, many felt homeowners should be […]
Foreclosed Homes Hit Lowest Mark in 7 Years
Some Highlights: The number of foreclosed in the US has fallen 28.9% to 472,000. Only 3.5% of homes in the US are currently in serious delinquency. The inventory level of foreclosed homes hit the lowest level since January 2008 at 1.2% of all homes with a mortgage. FIND OUT IN 15 SECONDS WHAT YOUR HOME COULD SELL […]
What Is A Zombie Property And Does Knoxville Have Any?
First off, you might be thinking, Troy is losing it. Zombie property? But it is a real term used in the industry. A “Zombie Property” is any property that has started the foreclosure process, but never been foreclosed and the homeowner has vacated the property. Does Knoxville have any “Zombie Property?” Of course, the nationwide […]
Effect of Neighborhood Foreclosures on your Knoxville Real Estate Value
What is the effect of neighborhood foreclosures on your Knoxville real estate value? Coming out of the harshest national housing downturn many homeowners have seen, we have all heard about the multitude of foreclosures that have taken place all across the United States. Knoxville real estate, while not hit as bad as many areas in […]