Aloha, Watchers. This week’s edition of Foreclosure Watch brings more good news, as active listings are down for the second week in a row, pendings are up, and closings are just about holding steady. See, not all real estate news is bad news.

In new listing news, there were 27 new listings last week with 3 each in 37914, 37918, 37920, 37921 and 37931 and 2 each in 37917 and 37922. 37914 is still in the lead for 2009 with 14 new listings.

There were 9 closed foreclosure listings last week, with 3 in 37917, 2 in 37914 and 1 each in 37918, 37921, 27922, and 37938. So far 37917 is your favorite spot for buying foreclosures in 2009.

Now for the breakdown -

Knox County Foreclosure Property Statistics as of 1/28/08 *

Current On-Market Listings - 191
Average Asking Price: $132,240
Median Asking Price: $95,000
Most Expensive New Listing: $235,000 (5 BR, 3.5 BA, 2500+ sq ft in Farragut)
Least Expensive New Listing: $19,900 (2 BR, 1 BA, 900+ sq ft off Magnolia)

Notable New Listings:

North: $77,825 (2 BR, 1 BA, 2000+ sq ft in Villa Gardens)

South: $64,900 (3 BR, 2 BA, 1300+ sq ft off Maryville Pike)

East: $108,545 (3 BR, 2 BA, 1300+ sq ft on 1+ acre in Mascot)

West: $109,900 (3 BR, 2 BA, 1200+ sq ft in Willow Bend)

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Current Pending Sales -119
Average Asking Price – $102,494
Median Asking Price – $80,000

Closed Sales January 21, 2008 – January 27, 2009 - 9
Average Asking Price – $103,722
Average Sales Price – $95,417
Median Sales Price – $48,500
Average Days on Market – 71

*Data taken from KAARMLS on 1/28/09 for Knox County single family residential properties only, and does not include condos or PUDS.

As always, if you need more information on any of these properties, just drop me a line.

If you’d like to receive new foreclosure listings automatically, send me an email with “Foreclosure List” in the subject line, and I’ll do the rest.  I swear I ain’t no spammer.

Why take the chance of ever missing out on Foreclosure Watch? Make sure you get all your foreclosure goodness every week by subscribing to All Around K-Town today, either by RSS or email!

© 2008 Robert Stockdale Photography, All Rights Reserved.

This week we’re going down South across the Henley Street bridge to revisit a lovely little neighborhood called Lake Forest.

Lake Forest is a pretty well-kept secret as far as established Knoxville neighborhoods go and chances are you’ve driven right by it on your way down Chapman Highway and didn’t even know it. Located just northeast of Chapman Highway, the neighborhood is bounded by May Apple to the north, Red Bud Road the the west, and Lindy Road to the east. In other words, if you’ve passed Kay’s Ice Cream, you’ve gone too far.

© 2008 Robert Stockdale Photography, All Rights Reserved.

Much of Lake Forest is included in the Chapman Highway Dogwood Trail (see map below). Add reasonable home prices, convenience to downtown and campus, and picture perfect views to that selling point, and you see why Lake Forest a very desirable place to call home.

The majority of homes in the neighborhood were built in the 1940s and 1950s and there is a nice mix of 40s style cottages and 50s style ranchers. Many homes also have nice, charming features like original hardwood floors and arched doorways. There’s also the occasional split foyer or other 70s area style home found in the area.

© 2008 Robert Stockdale Photography, All Rights Reserved.

Right across Chapman Highway is the the .8 mile Gary Underwood Greenway as well as the Gary Underwood Park, which has a football field and soccer field in addition to picnic areas and shelters.

[original map from dogwoodarts.com]

So, if you’re looking for an out of the way, affordable neighborhood with some character that also close to a greenway and a park, look no further than Lake Forest.

Here’s Lake Forest by the numbers -

Lake Forest*

Current On-Market Listings -5
Average Asking Price: $14,740
Median Asking Price: $139,900
Most Expensive: $175,000 (4 BR, 2 BA, 2200 sq ft built in 1950)
Least Expensive: $118,900 (2 BR, 1 BA, 1000+ sq ft built in 1945)

Middle of the Road: $130,000 (3 BR, 1 BA, 1500+ sq ft built in 1952)

Current Pending Sales -1
Asking Price: $79,900

Details: 3 BR, 1.5 BA, 1100+ sq ft foreclosure

Closed Sales – Q1 2007 – 3
Average Asking Price – $130,633
Average Sales Price – $126,300
Median Sales Price – $108,000
Average Days on Market – 88

Closed Sales – 4th Quarter 2008 – 2
Average Asking Price – $88,500
Average Sales Price – $81,500
Median Sales Price – NA
Average Days on Market – 82

*Data taken from KAARMLS on 1/26/09 does not include adjacent subdivisions, condos, PUDS, 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 Lake Forest Listings” or “New Lake Forest Listings” in the subject line and I’ll take care of the rest. Big bucks, no spammies.
Know of a neighborhood you think is especially NOTW worthy? Don’t keep it to yourself – let me know about it in the comments.

The weekly poll is over there fixing a leak. Go vote and lend it a hand.

This week’s poll topic is about home improvement projects and how handy you really are. Some people like to do everything themselves while others would never be caught dead with any kind of tool in their hands.

So what about you? Are you giving Bob Villa a run for his money or are you better off calling in a professional to get things done around the house? Cast your vote and let me know.

You don’t have to be handy to get the latest news on the Knoxville real estate market – you just have to subscribe to All Around KTown by RSS or email today!

photo credit: .imelda

Early this week, I started a post about the 2008 year end Home Sales Report. It was going to be a chart extravaganza comparing 2007 to 2008. But then I started getting curious about how 2007 and 2008 compared to previous years, and the next thing you know, you have the charts below, showing Knoxville real estate sales and market statistics from 2004-2008.

Most of this is not new news, but I still think it helps put some perspective on where we currently are in all of this.

In this first one, you can see that in terms of sales, the market actually started its decline in 2007 -

But in the next one, you see that prices didn’t start their decline until 2008-

This next one proves I’m not exaggerating when I say that FHA loans ruled in 2008 -

Here you see that average days on market actually began its climb back in 2006-

Finally, you see a steady increase in new residential and condo listings until it finally fell (along with number of sales) in 2008.

So, that’s it. No scientific or unscientific analysis. Just the charts.

As always, I’d love to hear your thoughts, comments and other general harangues.

All information in the above charts was taken from KAARMLS and the KAARMLS year end Home Sales Reports for 2004, 2005, 2006, 2007, and 2008.

Well, hey there, Watchers. In this week’s edition of Foreclosure Watch, active foreclosure listings finally reversed their weeks long climb and dipped back down below 200, while listings were slightly up and closings remained the same. And yes, those are all good things.

There were 22 new listings this past week wtih 3 each in 37914, 37917, and 37920 an 2 each in 37912 an 37922. 37914 is in the lead so far in 2009 with 11 new listings.

Out of 10 closed foreclosure listings last week 3 were in 37912 and there was one each in 37806, 37914, 37915, 37917, 37918, 37922, an 37931.

Now for the breakdown -

Knox County Foreclosure Property Statistics as of 1/21/08 *

Current On-Market Listings - 199
Average Asking Price: $130,743
Median Asking Price: $93,900
Most Expensive New Listing: $250,000 (5 BR, 3.5 BA, 3400+ sq ft off of Choto)
Least Expensive New Listing: $20,240 (3 BR, 1 BA, 1000+ sq ft off Asheville Hwy)

Notable New Listings:
North: $59,900 (3 BR, 2 BA, 1600+ sq ft on Old Central Pike)
South: $64,900 (2 BR, 1 BA, 900+ sq ft off Woodlawn)
East: $27,000 (2 BR, 1 BA, 1300+ sq ft in Fairgarden)

West: $249,900 (4 BR, 2.5 BA, 2800 sq ft off Wrights Ferry Landing)*

*This is a pre-foreclosure or “short” sale.

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Current Pending Sales -101
Average Asking Price – $99,202
Median Asking Price – $38,900

Closed Sales January 14, 2008 – January 20, 2009 - 10
Average Asking Price – $72,640
Average Sales Price – $70,193
Median Sales Price – $60,000
Average Days on Market – 53

*Data taken from KAARMLS on 1/21/09 for Knox County single family residential properties only, and does not include condos or PUDS.

As always, if you need more information on any of these properties, just drop me a line.

If you’d like to receive new foreclosure listings automatically, send me an email with “Foreclosure List” in the subject line, and I’ll do the rest. Spam is so 2008.

Why take the chance of ever missing out on Foreclosure Watch? Make sure you get all your foreclosure goodness every week by subscribing to All Around K-Town today, either by RSS or email!

OK, before I even start breaking down the December 2008 Home Sales Report in the All Around KTown style, let’s get a few things straight -

1. I do not make these numbers up. They come straight from the Knoxville Area Association of Realtors, not my brain. If the numbers aren’t that great, that doesn’t mean I’m a negative or pessimistic person. Iit just means the numbers aren’t that great.
2. I am a real estate agent. I’m not a real estate hater and I’m not here to make agents or the Knoxville real estate market look bad. I’m just trying to give as candid a snapshot of the market as I know how.
3. I wish I had better news for you. Seriously, I wish as much as anyone – maybe even more than anyone – that the numbers we’ve seen over the last few months were better than they have been. But I also don’t believe that me blowing wind up your collective skirts about the state of the Knoxville real estate market helps anything or anybody.
4. People are still buying and selling homes in Knoxville. If they weren’t, I’d be out of work and blogging about something else right now, like funny cat pictures, fondue, or my unhealthy obsession with finding the perfect office chair at a reasonable price.

Now then -

Earlier this week, Josh Flory over at Property Scope wrote about the glut of high end homes currently on the market in the Knoxville area. As he pointed out, in December ‘08 there were 3,12o homes over $300,000 for sale – the equivalent of a 42 month supply. Yikes.

Because I love the charts – and because I know you do too – I decided to graph out December’s active and closed listings by price range.  First let’s look at a snapshot of just the active listings-

Now let’s look at listings vs. closings in those same price ranges -

That last graph should give you an idea of not only what all home sellers are facing right now, but especially what folks in the upper price ranges are up against. And if you’re one of those people, please keep these numbers in mind the next time you want to unload on your Realtor for your home still being on the market. Just sayin’.

Now for the breakdown -

Someday soon there will be good news to start with, but for now, we have to start with the not-so-good news -

Average sales price for 2 or less BR homes is down.
Dec ‘07 – $99,800
Dec ‘08 – $97,100

Median sales price for 2 or less BR homes is (slightly) down.
Dec ‘07 – $77,900
Dec ‘08 – $77,500

© 2008 Robert Stockdale Photography, All Rights Reserved.

This week we’re heading to Bearden to revisit a little neighborhood with a lot of charm: Forest Heights. Forest Heights is actually comprised of four individual subdivisions: Forest Hills, Forest Heights, Highland Hills and Highland Hills Addition.

Located just off of Sutherland Avenue, Forest Heights Forest Heights is a very picturesque area and definitely worth checking out if you like older homes and the convenience of a close-in West location but aren’t crazy about Sequoyah Hills.

© 2008 Robert Stockdale Photography, All Rights Reserved.

The Forest Heights Neighborhood Homeowner’s Association Website gives a brief overview of the history of the area:

The heavily wooded, hilly neighborhood now called Forest Heights has been a stable, attractive, and desirable residential area for over seventy years…

…Although the earliest homes of the area are from the 1920s and 1930s, most of the building is of the post World War II period. The residents of this neighborhood were and are a diverse group of people who have found the location, the natural beauty and the friendliness of their neighbors an enticement to move here, to raise their families, and often to remain and welcome their grown children back as new homeowners in the neighborhood.

As Knoxville grew, especially towards the west, and as the Interstate 40/75 was completed, Forest Heights had to adjust to the new conditions. The quiet neighborhood was bisected by still narrow Forest Heights Drive which had to bear almost constant heavy traffic to and from the Interstate overpass. To preserve the neighborhood the Forest Heights Neighborhood Association was formed in 1973. With dogged and determined courage the FHNHA successfully fought to keep the overpass down when it was demolished to allow the expansion of the Interstate in April 2001.

Homestyles in the neightborhood range from cottage to Tudor and most have some amount of stone accent.

© 2008 Robert Stockdale Photography, All Rights Reserved.

The neighborhood itself is also very walkable. Once you get down the hill to Sutherland Avenue, it’s a short walk to the post office, the grocery store, Panera Bread and several other businesses located in the Mercedes Place shopping center.

So if you’re looking for something with charm that’s not too far west and very walkable, look no further than Forest Heights.

© 2008 Robert Stockdale Photography, All Rights Reserved.

Here’s Forest Heights by the numbers-

Forest Heights*

Current On-Market Listings -2
Average Asking Price: $322,400
Average Square Footage: 2678
Most Expensive: $344,900 (4 BR, 2 BA, 2300+ sq ft restored 2 story)
Least Expensive: $299,900 (5 BR, 3.5 BA, 3000 sq ft Tudor)

Current Pending Sales -1
Asking Price – $470,900
Details: 4 BR, 3 full bath, 2 half bath, 3200+ sq ft Tudor

Closed Sales – 4th Quarter 2007 – 2
Average Sales Price – $321,500
Median Sales Price – NA
Average Days on Market – 56

Closed Sales – 4th Quarter 2008 – 0
Average Sales Price – NA
Median Sales Price – NA
Average Days on Market – NA

*Data taken from KAARMLS on 1/19/09 for Forest Heights, Forest Hills, Highland Hills & Highland Hills Addition, and does not include adjacent subdivisions, condos or PUDS.

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 Forest Heights Listings” or “New Forest Heights Listings” in the subject line and I’ll take care of the rest. I seriously will not send you any unsolicited emails. Word.

Is there a neighborhood you’d like to see here next week? Let me know in the comments.

The weekly poll is ready for an early spring cleaning. Why don’t you do a little dusting while you’re over there voting?

This week’s poll topic is about houses and how clean they really are. I’m in and out of people’s homes every day, but with a few exceptions, I usually only see homes at their cleanest – not how people ususally live.

So I’m curious. If I walked into your house right now, how clean would it really be? Would it pass the white glove test, or would I need a bio-hazard suit to go in the bathroom? Cast your vote and let me know.

Whether your house is clean as a whistle or just down right dirty, you can still get the latest news on the Knoxville real estate market – subscribe to All Around KTown by RSS or email today!

photo credit: lille abe

Just when you thought it would never return, the Price Range series is back with it’s 3rd and much belated installment.

In the first installment of the series,  we learned how much house you can get in K-Tow for less than $50,000 (not much). Then we bumped it up a bit and looked at what’s available between $50,000 and $75,000 (not much that doesn’t need a lot of work).

In this edition, we”re taking it to the next level and looking at what $75,000 to $100,000 will buy you in Knoxville.

As I write this, there are 251 homes for sale in that price range in Knox County. Their average square footage is 1228 and they have an average of 2 bedrooms and 1 bathroom.

Here’s a look at some homes currently on the market in that range in North, South, East and West Knox County. Enjoy!

North Knoxville

$76,900 (2 BR, 1 BA, 1000+ sq ft off of Broadway)

$84,900 (3 BR, 1 BA, 1000 sq ft off of Washington Pk)

$94,905 (3 BR, 1 BA, 1400+ sq ft on Jacksboro Pike)

$99,900 (3 BR, 2 BA, 1100 sq ft in Halls)

South Knoxville

$76,900 (2 BR, 1 BA, 900 sq ft off of Moody)

$84,900 (3 BR, 1 BA, 1000+ sq ft off of Martin Mill)

$94,900 (3 BR, 2 BA, 1100+ sq ft off Alcoa Hwy)

$100,000 (3 BR, 1 BA, 1200+ sq ft off Sevierville Pike)

East Knoxville

$75,500 (3 BR, 2 BA, 1100 sq ft off Magnolia)

$85,000 (2 BR, 1 BA, 1200+ sq ft in Straw Plains)

$93,900 (3 BR, 2 BA, 1200+ sq ft off MLK Blvd.)

$99,900 (2 BR, 2 BA, 1000+ sq ft in Mascot)

West Knoxville

$75,937 (3 BR, 1.5 BA, 1400 sq ft off Pleasant Ridge)

$84,900 (2 BR, 2 BA, 900+ sq ft off Western Ave)

$89,900 (3 BR, 1 BA, 1000+ sq ft in Karns)

$97,000 (3 BR, 2 BA, 1200+ sq ft off Middlebrook)

And that’s it for the $75,000- $100,000 range. Worried you might miss the the next episode where we’ll be looking at Knoxville homes between $100,000 and $125,000? Go ahead and subscribe to All Around KTown by RSS or email and you’ll never have to worry about missing a thing!

What’s happenin’, Watchers? In this week’s edition of Foreclosure Watch, active foreclosure listings continue what is starting to seem like a never ending climb, pending listings remain the same, and closings are (thankfully) back up in the double digits. Hey, any good news is good by me.

In new listing news, 37914 was the clear frontrunner with 6 – yes 6 – new foreclosure listings. Other zips with more than one new listing included 37849, 37917, 37918 and 37924. 37914 and 37918 are currently tied for first place with 8 each.

Out of 10 closed foreclosure listings, 3 were in 37921, and there was 1 each in 37849, 37909, 37912, 37914, 37917, 37918 and 37924.

Now for the breakdown -

Knox County Foreclosure Property Statistics as of 1/14/08 *

Current On-Market Listings - 207
Average Asking Price: $134,603
Median Asking Price: $99,500
Most Expensive New Listing: $399,900 (3 BR, 3 BA, 4400+ sq ft off of Concord in West Knox)
Least Expensive New Listing: $24,900 (2 BR, 1 BA, 700+ sq ft in East Knoxville)

Notable New Listings:
North: $99,900 (3 BR, 2 BA, 1600+ sq ft on 2+ acres in Powell)
South: $69,900 (2 BR, 2 BA, 1100+ sq ft in Lake Forest)
East: $43,900 (3 BR, 1.5 BA, 1400+ sq ft on Holston Drive)
West: $120,000 (5 BR, 2 BA, 2400+ sq ft off Northshore)

*This is a pre-foreclosure or “short” sale.

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Current Pending Sales -97
Average Asking Price – $89,937
Median Asking Price – $74,900

Closed Sales January 7, 2008 – January 13, 2009 - 10
Average Asking Price – $78,590
Average Sales Price – $73,030
Median Sales Price – $76,400
Average Days on Market – 68

*Data taken from KAARMLS on 1/14/09 for Knox County single family residential properties only, and does not include condos or PUDS.

As always, if you need more information on any of these properties, just drop me a line.

If you’d like to receive new foreclosure listings automatically, send me an email with “Foreclosure List” in the subject line, and I’ll do the rest. No matter how bad the market gets, I promise I’ll never spam you.

Why take the chance of ever missing out on Foreclosure Watch? Make sure you get all your foreclosure goodness every week by subscribing to All Around K-Town today, either by RSS or email!