Are you planning on buying a home in the Knoxville area this year? Show homeowners that you are serious about buying by getting pre-approved for a mortgage! Let’s get together to help you take the first step in making your dream of buying a home a reality! Contact me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 or 888-388-DOOR xt.707 today!
SOLD! SOUTH KNOXVILLE! 4900 Creek Bank Drive in Woodson Trail
SOLD IN 1 DAY WITH MULTIPLE OFFERS! Immaculate South Knoxville home just minutes from Downtown and UT located at 4900 Creek Bank Drive, Knoxville, TN 37920 in the Woodson Trail Subdivision. Perfect for commuters to both Knoxville and Maryville.
The inviting front porch is just one element of the great curb appeal. Save on your electric bill, as natural light just streams into the home through the large windows. Total of 3 bedrooms, 2.5 baths plus a large bonus room. This home has been exceptionally cared for. Open plan allows the eat-in kitchen to look into the family room. Formal dining and small office/multi-purpose room finish off the main level. Master bedroom is spacious and features a master bath with dual sinks, corner tub, and separate shower plus a walk-in closet. Maintenance free deck looks over a large flat backyard which takes full advantage of the corner lot.
Have questions or want to schedule a showing? Contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 or 888-388-DOOR xt. 707.
4900 Creek Bank Drive, Knoxville, TN 37920
$250,000
Property Type:
Single Family
Bedrooms:
3
Square Footage:
2,112
Status:
Closed
Current Price:
$250,000
List Date:
4/04/2019
Last Modified:
12/21/2023
Overview
Description
Listing Details MLS# 1075276
Contract Info
- Auction Y/N
- No
Location, Tax & Legal Info
- Area
- Knox County - 1
- Property Sub-Type
- Residential
- Community
- South Knoxville
- City/County Code
- City Limits
- Elementary School
- Mount Olive
- Middle School
- South Doyle
- Total Tax
- 2181.15
- High School
- South Doyle
General Property Description
- Type
- 2 Story
- # Bedrooms
- 3
- # of Rooms
- 9
- Restrictions
- Yes
- Site Built
- Yes
- Fireplace
- Yes
- HOA Fee
- 300
- HOA Freq
- Yearly
- HOA Contact
- .
- Property Status
- N/A
- SqFt - Main Lvl
- 1000
- SqFt - Down Lvl
- 0
- SqFt - 2nd Flr Lvl
- 1112
- SqFt - 3rd Flr Lvl
- 0
- # Fireplace
- 1
- HOA
- Mandatory
- Basement
- No
- Bonus Room
- Yes
Remarks & Misc
- Directions
- From downtown Knoxville go SOUTH on HWY 129 to LEFT on Woodson (note there is currently construction which bars a left hand turn so you will need to continue straight until you can make a UTURN). Once on Woodson continue straight until you reach the subdivision on the RIGHT and turn onto Woodson Trail. Then take next RIGHT onto Chimney Rock. Home is around the bend and on the LEFT. SIGN IN YARD
- Public Remarks
- Immaculate South Knoxville home just minutes from Downtown and UT, located in the Woodson Trail Subdivision. Perfect for commuters to both Knoxville and Maryville. Inviting front porch is just one element of the great curb appeal. Save on your electric bill, as natural light just streams into the home, through the large windows. Total of 3 bedrooms, 2.5 baths plus a large bonus room. This home has been exceptionally cared for. Open plan allows the eat-in kitchen to look into the family room. Formal dining and small office/multi-purpose room finish off the main level. Master bedroom is spacious and features a master bath with dual sinks, corner tub and separate shower plus a walk-in closet. Maintenance free deck looks over a large flat backyard which takes full advantage of the corner lot.
Atchd/Dtchd Type
- Detached
- Yes
Style
- Colonial
- Yes
- Traditional
- Yes
More Information
Construction
- Frame
- Yes
Siding
- Vinyl
- Yes
Fireplace
- Gas Log
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Central Cooling
- Yes
Floors
- Carpet
- Yes
- Hardwood
- Yes
- Vinyl
- Yes
Garage/Parking
- Garage Spaces
- 2
- Attached
- Yes
- Garage Door Opener
- Yes
- Main Level
- Yes
- Side/Rear Entry
- Yes
Basement
- Crawl Space
- Yes
Lot Description
- Corner Lot
- Yes
- Level
- Yes
Fuel
- Electric
- Yes
- Gas (Natural)
- Yes
Heat
- Central
- Yes
- Forced Air
- Yes
Community Amenities
- Architect Restricted
- Yes
Dining Area
- Breakfast Bar
- Yes
- 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
- Bedroom Main Level
- Yes
- Den/Study
- Yes
- Family Room
- Yes
- Laundry/Utility
- Yes
Exterior Features
- Deck
- Yes
- Porch - Covered
- Yes
- Prof Landscaped
- Yes
- Windows - Insulated
- Yes
Misc Features
- Internet Available
- Yes
- Walk-in Shower
- Yes
- Walk-In Closet(s)
- Yes
- Washer/Dryer Connect
- Yes
- Whirlpool Tub
- Yes
- Wired for Internet
- Yes
Sewer
- Sewer Info
- KUB
Water
- Water Info
- KUB
New Financing
- Cash
- Yes
- Conventional
- Yes
- FHA
- Yes
- New Loan
- Yes
- VA Loan
- Yes
Showing
- See Agent Instructns
- Yes
Room Information
| Room Name | Room Level | Room Remarks |
|---|---|---|
| Family Room | Main | |
| Dining Room | Main | |
| Kitchen | Main | |
| Eat In Breakfast Area | Main | |
| Garage | Main | |
| Master Bedroom | Second | |
| Bedroom 2 | Second | |
| Bedroom 3 | Second | |
| Bonus Room | Second | |
| Other | Second | LAUNDRY |
IDX
Listing Office:
Doorbell Real Estate
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.
Data Says April is the Best Month to List Your Home for Sale
The spring housing market is off to the races here in Knoxville! The inventory of homes for sale is increasing, buyers are out in force, and interest rates are the lowest we’ve seen in well over a year, piquing the interest of buyers and sellers previously on the fence about making a move.
New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.
Listing your home in the first week of April contributes 14x more property views, 5% less competition from other home sellers, and results in the home being sold 6 days faster!
Below is a graph indicating the average score for each month of the year.
It should come as no surprise that April and May dominate as the top months to sell in Knoxville. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, often leading to bidding wars.
However, there is one caveat worth mentioning. When broken down by metro, realtor.comnoticed that while warmer climates share an overall trend, they have different top sales months. The best month to get the most exposure in Miami, FL, for instance, is August, while in Phoenix, AZ, June leads the charge.
If you’re thinking of selling your home in Knoxville this year, the time to list is NOW! According to the National Association of Realtors, 41% of homes sold last month were on the market for less than 30 days! If you list now, you’ll have a really good chance to sell in April or May, setting yourself up for the most exposure!
Bottom Line
Let’s get together to discuss the local Knoxville market conditions, and those specific to where you live in our area, to get you the most exposure to the buyers ready and willing to make a move! Contact me, Troy Stavros with CornerStone Realty Associates today at 865-999-0925!
Your Tax Refund Could Be Your Key To Homeownership!
According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year when filing their taxes. This is down slightly from the average refund of $3,436 last year.
Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals. For anyone looking to buy a home in 2019, this can be a great jump start toward a down payment!
The map below shows the average tax refund Americans received last year by state. $3016 in Tennessee:
Many first-time buyers in Knoxville and all over the country, believe that a 20% down payment is required to qualify for a mortgage. Programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae all allow for down payments as low as 3%. Veterans Affairs Loans allow many veterans to purchase a home with 0% down.
If you started your down payment savings with your tax refund check this year, how close would you be to a 3% down payment?
The map below shows what percentage of a 3% down payment is covered by the average tax refund by taking into account the median price of homes sold by state.
The darker the blue, the closer your tax refund gets you to homeownership! For those in Tennessee looking to purchase their first homes, their tax refund could potentially get them 61% closer to that dream!
Bottom Line
Saving for a down payment can seem like a daunting task. But the more you know about what’s required, the more prepared you can be to make the best decision for you and your family! This tax season, your refund could be your key to homeownership!
Want more information or to talk about getting the process started? Contact Troy Stavros with CornerStone Realty Associates today at 865-999-0925!
46 Million Millennials Are Now Mortgage Ready. But Do They Know It?
Much has been written about the millennial generation and whether or not they, as a whole, believe in homeownership as part of attaining the American Dream.
Millennials have taken longer to obtain traditional milestones than the generations before them, such as getting married, having kids, and buying a home. (Partially because this generation has been hampered by more student loan debt than the generations before them.) However, that does not mean that they do not still aspire to achieve those things.
History shows that people tend to buy their first home around age 30. Nearly 5 million millennials will turn 30 in the next two years. This will continue to fuel demand for housing.
This is also one of the many reasons why the millennial homeownership rate has continued to grow over the past few years. 48.4% of Americans between the ages of 30-34 now own a home.
There are currently over 46 million millennials (33% of the generation) who are considered “Mortgage Ready”, meaning they meet the qualifications to be approved for a mortgage today!
- a FICO Score ≥ 620
- a Back-End Debt to Income Ratio ≤ 25%
- no Foreclosures or Bankruptcies in the last 7 years
- no severe delinquencies in 1 year
Rob Chrane, CEO of Down Payment Resource, commented on the findings of the report,
“We now know there are millions of buyers with the income & credit necessary to qualify to buy a home. The biggest question is:
Do they know it? …Unfortunately, many renters don’t investigate homeownership simply because they don’t believe it’s an option.”
The good news is that more and more millennials are realizing that they can afford a home in Knoxville, now. Even so, more can be done to increase awareness of low down payment programs to attract even more of this generation.
New data from realtor.com shows that in December, millennials accounted for 42% of all new home loans originated in the month. This is more than any other generation.
Bottom Line
If you are one of the many millennials who may be “Mortgage Ready” but are unsure what your next steps should be, let’s get together to help guide you on your path to homeownership! Contact me, Troy Stavros with CornerStone Realty Associates at 865-999-0925.
What Credit Score Do You Need To Buy A Home in Knoxville?
There are many misconceptions about the credit score needed to buy a house in Knoxville. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed!
Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian:
- 16% Very Poor (300-579)
- 18% Fair (580-669)
- 21% Good (670-739)
- 25% Very Good (740-799)
- 20% Exceptional (800-850)
Randy Hopper, Senior Vice President of Mortgage Lending for Navy Federal Credit Union said,
“Just because you have a low credit score doesn’t mean you can’t purchase a home. There are a lot of options out there for consumers with low FICO® scores,”
There are many programs available to home buyers in Knoxville with low or no credit score requirement. The Federal Housing Administration (FHA) now requires a minimum FICO® score of 580 if you want to qualify for the low down payment advantage. The US Department of Agriculture (USDA) does not set a minimum credit score requirement, but most lenders require a score of at least 640. Veterans Affairs (VA) loans have no credit score requirement.
As you can see, none of them are above 700!
It is true that the average FICO® score for all closed loans in January was 726, but there are plenty of people in Knoxville taking advantage of the low credit score requirements. Here is the average FICO® Score of closed FHA Loans since April 2012 according to Ellie Mae:
As you can see, that number has been dropping for the last seven years. As a matter of fact, the average FHA Purchase FICO® Score reported in January 2019 was 675, and the average credit score for FHA borrowers in 2018 was 670, the lowest average since 2008.
One of the challenges is that most people, especially renters, are unsure about their credit score. They just assume that it is too low to qualify and do not double check. Credit.com confirmed that only 57% of individuals sought out their credit score at least once last year.
FICO® reported,
“Since October 2009, the average year-over-year FICO® Score has steadily and consistently increased, from a low of 686 in 2009 to the latest high of 704 as of 2018.”
Here is the increase in the average US FICO® Score over the same period of time as the graph earlier.
Bottom Line
At least 84% of Americans have a score that will allow them to buy a house. If you are unsure what your score is or would like to improve your score in order to become a homeowner, let’s get together to help you set a path to reach your dream!
Contact me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 today!
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