photo credit: Dan4th

The weekly poll is trying to figure out how to finance the house of its dreams. Go vote and give it some advice.

This week’s poll topic has to do with something most of us have had to deal with if we own a home: financing. In particular, I’m curious what kind of financing you used when you bought your current home. It’s certainly no secret that FHA loans have become more than a little popular in the last few years. According to the Knoxville Area Association of Realtors, in the greater Knoxville area alone, the number of FHA loans used to buy homes more than doubled from 2004 (1,014)  to 2009 (2,464) while the number of conventional loans fell by more than 50% (10,797 in 2004 vs. 4,876 in 2009 – ouch). This has largely been due to increasingly strict approval and underwriting guidelines for conventional loans.

However, it looks like there’s about to be some stricter guidelines on the FHA front as well, and some say that those changes (higher minimum down payment, fewer seller paid concessions, higher up front mortgage insurance payments) could cut out a good number of currently FHA eligible home buyers and thereby hurt the housing market. Oh yeah, and did I mention that the FHA might also need one of those tax payer bailout thingys? For the first time in its 75 year history? Crikey.

But before all those changes become official, I’m curious about how many of you used FHA vs. other types of financing when you bought your current home. And if you went FHA, was it by choice or by necessity? Or maybe a conventional loan was more your style when you bought your home? Or maybe you don’t buy anything you can’t pay cash for? Cast your vote and let me know!

Home financing may be complicated, but getting information the Knoxville real estate market isn’t.  Just have it delivered straight to your feed reader or inbox by subscribing to All Around KTown today!

This week Neighborhood of the Week stays in Farragut to revisit a large neighborhood with an even bigger sense of community: Village Green.

Village Green is an established swim and tennis community located 1/4 mile south of I-40, just off of Campbell Station Road. It is also part of the Farragut section of the Knoxville Dogwood Trail.

Not only is Village Green convenient to I-40, it is also within walking distance of a public library, a park with a hiking trail, a post office and a major shopping center.

The homes in Village Green were almost all built in the 70s and have a very traditional and sometimes colonial look. There are a lot of two stories, some ranchers, and, of course, some split-levels and split-foyers.

The community as a whole is very active and in addition to the neighborhood swim team and tennis leagues, there are also planned bonfires, garage sales, bunco nights, barbeques, ice cream socials, water aerobics, swim lessons and much more. The community website is very detailed and provides a lot more great information about the varied neighborhood activities.

So, if you’re looking for a home in an established, walkable neighborhood in Farragut that has community swimming and tennis and is also very active & community oriented, look no further than Village Green.

Here’s Village Green by the numbers -

Village Green*

Current On-Market Listings – 4
Average Asking Price: $305,317
Median Asking Price: $287,100
Most Expensive: $399,900 (3 BR, 2.5 BA, 3300+ sq ft traditional 2 story)
Least Expensive: $219,900 (3 BR, 2 BA, 1700+ sq ft rancher)
Middle of the Road: $299,300 (4 BR, 3.5 BA, 3000+ sq ft colonial 2 story)

Current Pending Sales - 0

Asking Price: NA
Details: NA

Closed Sales – 4th Quarter 2009 – 1
Asking Price – $282,250
Sales Price – $275,500
Median Sales Price – NA
Days on Market – 84

Closed Sales – 4th Quarter 2008 – 4
Average Asking Price – $268,650
Average Sales Price – $260,206
Median Sales Price – $258,200
Average Days on Market – 106

*Data taken from KAARMLS on 3/15/10 does not include condos, PUDS, adjacent neighborhoods or multi-family units.

As always, if you want any more information about any of these properties, or if you’d like to check one of them out in person, just give me a shout.

If you would like to receive a full list of properties for sale in this neighborhood, or if you would like to be notified of new listings,send me an email with either “Current Village Green Listings” or “New Village Green Listings” in the subject line and I’ll take care of the rest.  My momma taught me better than to spam people.

Know a community that you think would make great AAKT Neighborhoods of the Week? Tell me about it in the comments.

photo credit: ntr23

The weekly poll is looking for a new place online. Go tell it what your favorite home search sites are.

This week’s poll topic has to do with something I’ve been dealing with a lot this week:  home search websites. We Realtors have the advantage of having the good old MLS at our fingertips, but the general public doesn’t have it so easy.  Although there is a public sister site to our local MLS here in Knoxville, a lot of folks choose to get their information on one of the eleventy billion other home search sites on the web. Some people prefer one of the many national sites with a lot of bells and whistles, while others are more partial to local sites that are more bare bones, but which tend to update their information more frequently.

So what about you? Do you have a go to site to look for real estate listings online? Is it a national site that can guesstimate the value of your house or is it just a little ole’ local site that tends to have reliable listing info? Cast your vote and let me know!

You may like to look at 4 or 5 different real estate websites when you’re searching for homes, but you’ll never have to look far for information on the Knoxville real estate market. Just have it delivered straight to your feed reader or inbox by subscribing to All Around KTown today!

In case you missed it, USA Today highlighted the state of the Knoxville real estate market in today’s edition. And on the off chance you haven’t already heard me squealing about it from the rooftops, there’s also a tiny little quote from yours truly in the piece. Check it out!

This week Neighborhood of the Week goes just behind West Town Mall to revisit a neighborhood that as almost as many hills as it has split foyers: Kingston Woods.

Bordered by Gleason Rd to the north, Morrell Rd to the east, Westland Dr to the South and Gallaher View to the west, Kingston Woods is actually made up of 4 legal subdivisions: Kingston Woods, Kingston Hills, Kingston Park, and West Oak.

The neighborhood was mostly built during the 60s and 70s and you guys know by now that that means: lot of ranchers and split foyers and in the case of Kingston Woods, lots of tri-levels. And although most of the homes are older, there is the occasional newer home built on a fill-in lot.

The Kingston Woods Neighborhood Association is a voluntary HOA that works hard to keep the community nice and safe. Residents recently lobbied for and were successful in implementing a traffic calming plan to slow down cut through drivers. Traffic calming measures include speed humps, medians and roundabouts.

The area is great for walkers and runners as there are lots and lots of low traffic streets with plenty of hills to keep your heart pumping.

Kingston Woods is centrally located in West Knoxville and is a short drive to Bearden, Rocky Hill, and I-40. It’s also just about a mile away from Bearden High School. And if you don’t mind braving the above-mentioned hills, it’s easily within walking distance of West Town Mall.

So if you’re looking for a home in an older, well kept neighborhood that’s both affordable and convenient,  you might want to check out Kingston Woods.

Special thanks to AAKT’s resident photographer, Robert Stockdale, for the great shots of Westmoreland. If you would like to learn more about Robert’s work, please visit his website.

Here’s Kingston Woods by the numbers -

Kingston Woods*

Current On-Market Listings – 12
Average Asking Price: $176,221
Median Asking Price: $176,700
Average square footage: 2035

Most Expensive: $259,900 (4 BR, 3 BA, 2800+ sq ft two story)

Least Expensive: $114,900 (3 BR, 2 BA, 2100+ sq ft pre-foreclosure)

Middle of the Road: $168,500 (4 BR, 2.5 BA, 1900+ sq ft split foyer)

Current Pending Sales - 3
Average Asking Price – $179,900
Median Asking Price – $179,900

Closed Sales – 4th Quarter 2009- 8
Average Asking Price – $169,738
Average Sales Price – $164,175
Median Sales Price – $165,900
Average Sq Ft – 1721
Days on Market -143

Closed Sales – 4th Quarter 2008- 4
Average Asking Price – $162,567
Average Sales Price – $153,500
Median Sales Price – $150,000
Average Sq Ft – 2178
Days on Market – 188

*Data taken from KAARMLS on 03/08/10 does not include condos, PUDS, adjacent neighborhoods or multi-family units.

As always, if you want any more information about any of these properties, or if you’d like to check one of them out in person, just give me a shout.

If you would like to receive a full list of properties for sale in this neighborhood, or if you would like to be notified of new listings,send me an email with either “Current Kingston Woods Listings” or “New Kingston Woods Listings” in the subject line and I’ll take care of the rest. Spam is just lame.

Think your neighborhood has what it takes to be a NOTW? Let me know about it and you might just see it here in the coming weeks.

photo credit: emdot

The weekly poll is cleaning up for out of town company. It’s gonna take a while, so you have plenty of time to go vote.

This week’s poll topic has to do with something I have a few of right now: house guests. More specifically, how comfortable is your home for guests who are planning to spend a night or two (or three)? Here in the Trotta household, we have a dedicated guest room that pretty much remains untouched except for the in-laws annual visit. Could we use the space for other things? Probably, but we’re not dying for extra space and after years of living in cramped apartments, it sure is nice to have a comfortable room for friends and family when they need it.

So what about you? Does your home have a comfortable spot for visitors to lay their weary heads? Or do you offer a lumpy old couch and hope they’ll spring for the Super 8 instead? Cast your vote and let me know!

You may have to sleep on the pull out sofa when you’re visiting grandma, but you’ll never have to look far for information on the Knoxville real estate market. Just have it delivered straight to your feed reader or inbox by subscribing to All Around KTown today!

© 2010 Robert Stockdale Photography, All Rights Reserved.

This week Neighborhood of the Week heads up north to take a look at a cozy little area that’s more or less tucked right behind Fairmont and Emoriland Boulevards: Fairmont Park.

Located just east of Broadway, Fairmont Park can be hard to distinguish from the Fairmont & Emoriland area proper. I think of it as the back or east end of the Boulevards, going back to Whittle Springs, and bounded roughly by Nickerson to the south

© 2010 Robert Stockdale Photography, All Rights Reserved.

The homes in Fairmont Park area are mostly smaller — and slightly more affordable — than their main boulevard counterparts, but are no less charming. Like the Fairmont and Emoriland area, Fairmont Park was first developed in the 1920s, but the neighborhood has many homes built in the 30s, 40s, and 50s. Architectural styles in the neighborhood include Tudor, Spanish Eclectic, and Colonial Revival, as well as many cottage style homes.

© 2010 Robert Stockdale Photography, All Rights Reserved.

Fairmont Park is almost as walkable as Fairmont & Emoriland, with sidewalks present on most blocks of most streets.

Fairmont Park is easily accessible via I-40, I-640, and I-275. It’s also a great place for anyone looking for a quick commute to downtown or the UT campus.

So if you’re looking for an affordable, historic home in an quaint, walkable neighborhood with easy access to interstates, UT and downtown, the Fairmont Park might be right up your alley.

© 2010 Robert Stockdale Photography, All Rights Reserved.

Special thanks to AAKT’s resident photographer, Robert Stockdale,  for the great shots of Fairmont Park. If you would like to learn more about Robert’s work, please visit his website.

Here’s Fairmont Park by the numbers -

Fairmont Park*

Current On-Market Listings – 6
Average Asking Price: $110,330
Median Asking Price: $102,400
Average square footage: 1260

Most Expensive: $172,500 (3 BR, 2 BA, 1700+ sq ft on Fairmont)
Least Expensive: $74,900 (2 BR, 1 BA, 800+ on Miami)
Middle of the Road: $119,900 (3 BR, 2 BA, 1600+ sq ft on Orlando)

Current Pending Sales - 2

Average Asking Price – $84,900
Median Asking Price- NA

Closed Sales – 4th Quarter 2009- 4
Average Asking Price – $64,900
Average Sales Price – $63,420
Median Sales Price – $56,840
Average Sq Ft – 1294
Days on Market – 23

Closed Sales – 4th Quarter 2008- 6
Average Asking Price – $116,250
Average Sales Price – $113,633
Median Sales Price – $122,250
Average Sq Ft – 1640
Days on Market – 78

*Data taken from KAARMLS on 03/01/10 does not include condos, PUDS, adjacent neighborhoods or multi-family units.

As always, if you want any more information about any of these properties, or if you’d like to check one of them out in person, just give me a shout.

If you would like to receive a full list of properties for sale in this neighborhood, or if you would like to be notified of new listings,send me an email with either “Current Fairmont & Emoriland Listings” or “New Fairmont & Emoriland Listings” in the subject line and I’ll take care of the rest. Spam is so 2009.

Know of a great corner of KTown that would also make a great NOTW? Let me know about it and you might just see it here in the coming weeks.