At the end of every year, people often wonder what the following year will hold. Here are a few predictions from Knoxville Home Team on what 2015 might mean for the Knoxville real estate market.
Knoxville Real Estate Market Prediction #1 – Interest Rates Will Rise
Over the past few years, buyers have enjoyed historically low interest rates. Unfortunately, in 2015, any buyer in the Knoxville real estate market will likely see an increase in mortgage interest rates. According to a recent market forecast by Freddie Mac, interest rates have been predicted to rise to somewhere in the 5.0% range versus where they have been recently in the 4.0% range. Interest rates are likely to inch up slowly in 2015, so if you want to take advantage of still low interest rates, consider buying a Knoxville home early in 2015.
Knoxville Real Estate Market Prediction #2 – Home Appreciate Rates Will Level Out
Over the past few years, the rate in which homes in Knoxville have been appreciating has been a little sporadic. In 2015, Freddie Mac has predicted that homes will appreciate at a more steady pace. Homes appreciated in 2013 at a rate of 9.3%, in 2014 at a rate of 4.5%, and are expected to appreciate at a rate of 3.0% in 2015. Read the rest of this entry »
Knoxville was named one of the best cities to retire by Livability.com. To compile the list, Livability ranked cities on the following criteria: health care, cost of living, recreational amenities, crime, walkability, taxes, age diversity, and social or emotional support services. Read on to find out why Knoxville ranked one of the best cities to retire.
This is the second year that Knoxville has appeared on the list of best cities to retire. In 2013, Knoxville was ranked #7 on the best cities to retire. This year Knoxville moved up the list #2. One of the main reasons Knoxville is ranked as one of the best cities to retire is due to its low cost of living. Compared to the rest of the nation, Knoxville has an extremely affordable cost of living and low unemployment rate. Tennessee is also one of the few states without a state income tax. Read the rest of this entry »
When it comes to selling your West Knoxville home, price is a very big determination in how quickly your home will sell. If the price isn’t right on a West Knoxville home for sale, it will not sell, it is as simple as that. Here are 3 pricing mistakes every seller makes and why they matter when selling your West Knoxville home.
Overpricing From The Start
Many sellers are guilty of overpricing their West Knoxville from the very start. This is a very common and easy mistake for West Knoxville sellers to make. As a seller, you take pride in your home, so it can be very easy to have your emotions take the best of you when it comes to pricing your home. Unfortunately, your home is only worth what a buyer is willing to pay for it. Overpricing your home can cause many West Knoxville buyers to skip over your home. In order to sell your home in the shortest amount of time possible and for the best price, it is helpful to see what homes are selling for in your area. A West Knoxville real estate agent can help provide you with the information to find a fair price for your home. Read the rest of this entry »
Pricing a West Knoxville home for sale is a bit of an art. The price can’t be too high, or it won’t likely attract buyers; but, it can’t be too low, or the the seller could undersell the property. Determining the right price for your West Knoxville home is one the most important decisions you will make in the selling process. So, how determine what the right price is for your West Knoxville home?
In some ways, it can be helpful note what things do not determine your home’s value. For many sellers, they can be blinded their memories in the home or what they think it should be worth. Here are a few things that do not influence a home’s value:
-What you originally paid for your West Knoxville home
-What you would like to sell your home for
-How much is owed on a West Knoxville home
-The exact amount of improvements you put into a home
In the end, none of these factors determine the price for your West Knoxville home for sale. As frustrating as it can be, it is always a buyer that determines what a West Knoxville home will sell for. After all, a home only sells when a buyer finds the price reasonable enough to buy the home. Read the rest of this entry »
The city of Knoxville has graced the top of a national list yet again. Knoxville was named by TripAdvisor as a “Top 10 Vacation Destination On The Rise.” TripAdvisor ranked a list of 10 destinations in the U.S. that are affordable, have less crowds, and have positive buzz among travelers.
On this list of 10 destination on the rise, Knoxville was ranked #9. TripAdvisor notes that Knoxville is an interesting place to visit do to an interesting local history (it was home to both Union and Confederate armies), Tennessee Sports, among many other things. Knoxville is also home to World’s Fair Park (where the 1982 World’s Fair was held), many museums, and beautiful landscapes (you can’t beat the Tennessee River and the Great Smokey Mountains), which makes Knoxville a great vacation spot. Read the rest of this entry »
You’ve probably heard it a million times, buying a West Knoxville home is a huge investment. Prior to jumping into buying home, guns blazing, it is important to look beyond the home itself, and be sure that you love the West Knoxville neighborhood just as much as the home. Here are 3 things not to overlook when choosing a West Knoxville neighborhood.
What’s The Future Of The West Knoxville Neighborhood?
You may love the West Knoxville home, but it is important to look at the neighborhood overall to see what the future could mean for the home’s value. Is the neighborhood up and coming? Is the neighborhood declining? Is it in an area where homes tend to keep their values? These are all question that an experienced West Knoxville realtor can assist you with or at least he or she an point you in the right direction of where to find the information. It can be important to look at home values in the area and where they’ve been trending, as well as if there have been a lot of foreclosures in an area. In addition, you’ll want to see what the future plans for the area are including new businesses and development plans. Read the rest of this entry »
December 3rd, 2014 categories: Buyers
With many new upgrades and a fabulous, spacious floor plan, this West Knoxville home for sale has so much offer. It has 4 bedrooms, 2.5 baths, a private backyard, and an asking price of $232,500. It is located at 1632 Clear Brook Drive in the Brentmoor neighborhood, in West Knoxville.
The main level of this West Knoxville home for sale has a great floor plan. There is a spacious dining room and living room, which could also double as an office. The kitchen has been recently renovated and comes complete with stainless steel appliances. In additions, the kitchen has smooth surface counter tops, a center island, dark hardwood floors, and a bright eat-in area. The family room is spacious as well and has a gas fire place. There is also an updated half bath on the main level with a new vanity. Read the rest of this entry »
November 21st, 2014 categories: Buyers
At the end of 2013, 3 very important real estate tax deductions expired. For many Knoxville homeowners if these tax deductions are not extended through 2014, the expiration of these deductions could have quite an impact on their 2014 taxes. As Congress enters into its last session of the year, it is expected that many of these tax deductions will be voted on before the end of the year. So, what real estate tax deductions expired last year? And, what does it mean for Knoxville homeowner’s if these tax deductions are not renewed?
Mortgage Insurance Premium Deductions
For many Knoxville buyers, FHA, VA, and Rural Housing loans are among very popular loan programs. If you buy a Knoxville home with one of those loan programs, you are required to pay a mortgage insurance premium. Since 2007, many Tennessee homeowners have been also to deduct that insurance premium come tax time. If this deduction is not extended, any mortgage insurance accrued after December 31st will not be eligible for the deduction. Read the rest of this entry »
November 19th, 2014 categories: Buyers
Selling your Knoxville home isn’t always easy. If you’ve been unlucky enough to have your home sit on the market for longer than you’ve liked, you’re likely looking for reasons why. Regardless of the time of year or market conditions, here are 3 reason why your Knoxville home may have not yet sold.
One of the most important things that will sell your Knoxville home for sale is the price. An overpriced home will not sell. It is as simple as that. One large thing you’ll want to look at if your Knoxville home hasn’t sold is the price. Consider talking with your realtor again about the price to see if your Knoxville home is fairly priced. Based on what homes are for sale in the area and that have sold recently, an experienced Knoxville realtor may be able to provide you with a better picture of a fair price. Read the rest of this entry »
Resale value is often one of the last things many buyers consider when buying a West Knoxville home for sale. Resale value, though, is a very important factor to consider when buying a home. A home is a big investment, which is why you want to protect your investment and ensure the home you buy can sell well in the future, if need be. Here is how to pick a West Knoxville home with good resale value.
If you know anything about real estate, it’s probably the location is key. When it comes to selecting a West Knoxville home for sale, location can play a critical role in value. A location can be good for many reasons including proximity to popular locations, great views, or other unique characteristics. Just as location can be helpful to a home’s value, it can be just as harmful. For example, homes near the interstate can be difficult to sell due to the constant sound. A good location is key in resale value. Read the rest of this entry »