photo credit: BrittneyBush

The weekly poll is looking for a house with enough storage space for all its poll questions. Go vote and give it a hand.

This week’s topic has to do with house features and specifically what features you absolutely can’t live without. I work with more than a few buyers and all of them have their “must haves” – the things that are really non-negotiable in the home they’re going to buy next. Some people focus more on the interior  (big kitchen, lots of closet space, fireplace, hardwoods or garage), some people focus on the exterior (yard, fence, privacy, swimming pool, lake front, convenient location) and others have more generalized non-negotiables (house style, house age, house location).

So what about you? What are the features you absolutely can’t live without in a home? Are they inside things like gourmet kitchens and luxury bathrooms? Are they outside things like big yards and swimming pools? Or maybe having a historic home or a new home are more important to you? Cast your vote (yes, you can choose multiple options this week!) and let me know. And if I left your “must have” feature out, let me know about it in the comments.

Thanks to @karentvchick for the idea for today’s poll question. If you have a suggestion for a Weekly Poll question, I’d love to hear it!

You might be able to compromise on closet space, but don’t compromise on your Knoxville real estate news. – Subscribe to All Around KTown in a feed reader or by email today to keep up with the latest in the K-Town housing market!

It’s back on the market and can be yours for the same price he bought it for last year, $2,600,000.  According to the listing, the 6 BR, 5.5 BA, 7800+ sq ft home in Victoria’s Inlet comes complete with “15×18.6 In-home theater, 17.4×36 gym, 2 kitchens, pool, [and] boat dock” and is “unbelievable for entertaining.”  They forgot to mention “hardly lived in.”

It’s once again time to step back into the Way Back Machine to take a gander at what the Knoxville real estate market was up to in the month that was. This month we’re heading all the way back to 2009 to see if Santa left candy or coal for us in the December Home Sales Report numbers from the Knoxville Area Association of Realtors. You know, the KAAR.

November was a super strong month for the Knoxville market, largely thanks to the $8,000 First Time Home Buyer Tax Credit and possibly partly due to the new move-up buyer tax credit. But was December – notoriously one of the slowest times of year in the biz – able to keep up that momentum?

Well, that’s probably what you came here to find out, right? So join me while I  break down the October 2009 Home Sales Report, the only way I know how: AAKT style. Holla!

And looky here – there’s all kinds of good news to start things off with!

Average sales price for 3 BR homes is (slightly) up.
Dec  ’08 – $147,200
Dec  ’09 – $149,400

Average sales price for 4 BR+ homes is up.
Dec  ’08 – $262,500
Dec  ’09 – $277,400

Median sales price for 4+ BR homes is (slightly)  up.
Dec  ’08 – $220,000
Dec ‘09 – $223,800

Average condo sales price is up.
Dec  ’08 – $160,200
Dec  ’09 – $169,500

Median condo sales price is (slightly) up.
Dec  ’08 – $149,000
Dec  ’09 – $150,000

Median sales price for 2 or less BR homes is down.
Dec  ’08 – $77, 500
Dec  ’09 – $72,600

Median sales price for 3 BR homes is (slightly) down.

Dec  ’08 – $132,000

Dec  ’09 – $129,000

—

Days on market is up.

…while FHA loans were still  up over last year.
Dec  ’08 – 139
Dec  ’09 – 159

And here’s the “Hope springs eternal with home sellers, but condo owners? Not so much” news-

The number of new residential listings was (slightly) up ...
Dec  ’08 – 1,505
Dec  ’09 – 1,552

…while  the number of new condo listings was (slightly) down.
Dec  ’08 – 193
Dec  ’09 – 172

And finally, there’s the “Finally! Now we can start getting some of these babies sold!” news-

1. Knoxville residential and condo sales are (for now) continuing their climb back to normality. Don’t call it a comeback.
2. That $8000 tax credit continues to boost sales, if not prices, of smaller homes.
3. It’s very possible that the move-up tax credit was also responsible for some sales, and maybe even responsible for the slight increase in larger home sales prices.
4. Hmmm… is that some sort of correlation between lowered listing prices and increased closed sales that I see? Hmmm…
5. Borrowers are still enjoying t FHA’s 3.5% down payment party and 6% seller paid closing costs carnival while they last.
6. Remember where we were this time last year? Geesh. How could 2010 not be better than that?

If you’re interested in looking at both reports yourself, here is ‘08 and here is ‘09. Enjoy and please feel free to share your thoughts and observations.

This week Neighborhood of the Week revisits the western edge of downtown to take another look at a small community with a big history: historic Mechanicsville.

© 2008 Robert Stockdale Photography, All Rights Reserved.

Not only does old Mechanicsville have a colorful history, it also contains perhaps the largest collection of 19th century architecture in Knoxville. From the Knox Heritage website:

The area of present day Mechanicsville which contains the most intact number of historic structures was developed initially as Deaderick’s Addition, J.W. Swann’s Addition, and Moses Fairview Addition. This area contains the largerQueen Anne and Italianate houses built for factory owners and area businessmen, and the smaller cottages of factory workmen…

Mechanicsville derives its name from the large number of factories that developed just outside its boundaries during the late 18th and early 20th centuries. It was settled around 1880. By 1883, Mechanicsville had a population of over 2,000. Most residents of the Mechanicsville worked in the factories and mills that surrounded the neighborhood. Mechanicsville, with its railroad and water source (Second Creek), quickly became the center for industrial activity in Knoxville…

One of the first industries to locate in Mechanicsville was the Knoxville Iron Company, incorporated in 1868 … The Knoxville Iron Company manufactured bar iron, nails, and railroad spikes, as well as ornamental iron. Ornamental iron fences and trim on houses in Mechanicsville are probably products of the Knoxville Iron Company.

Other industries in Mechanicsville included Knoxville Brewing Company, Knox Standard Handle, W.H. Evans & Son (suppliers of Italian marble), The Pottery and Pipe Works, Knoxville Box & Keg Factory, a railroad turntable factory, a broom factory, a soap factory, Cudley Planning Mill and Knoxville Car & Wheel…

In addition, the Mechanicsville area is home to Knoxville College, founded in 1875.

© 2008 Robert Stockdale Photography, All Rights Reserved.

Knox Heritage has even more on the history of the area, as well as an online tour. If you’re more
interested in architecture, Restore Knoxville has a great write up on the neighborhood’s many architectural styles.

© 2008 Robert Stockdale Photography, All Rights Reserved.

The Mechanicsvile area is still very much in transition, and while some of the homes have been restored to their former glory, others are still waiting for urban renewal to come their way.  Since homes are priced according to the level of restoration they’ve undergone,  expect prices to be somewhat disparate.

So, if you’re looking for an emerging area close to downtown and rich in history and architecture, and don’t mind the possibility of some sweat equity, definitely check out historic Mechanicsville.

Note: While there is newer construction near the older part of Mechanicsville, for the purposes of this NOTW I’m only going to be looking at the small area that most people consider to be the “historic” section of Mechanicsville.

Here’s historic Mechanicsville by the numbers -

Mechanicsville*

Current On-Market Listings – 2
Average Asking Price: $89,900
Median Asking Price: NA
Average Square Feet: 1525
Most Expensive: $159,900 (4 BR, 3 BA, 2000+ sq ft, built in 1899)
Least Expensive: $19,900 (2 BR, 1 BA, 1000+ sq ft, built in 1900)

Current Pending Sales - 0
Asking Price: NA
Details: NA

Closed Sales 2009 – 2
Average Asking Price – $144,900
Average Sales Price – $137,659
Average Square Ft- 2330
Average Days on Market – 132

Closed Sales – 2008 – 2
Average Asking Price – $53,200
Average Sales Price – $39,500
Average Square Ft – 1822
Average Days on Market – 40

*Data taken from KAARMLS on 1/25/10 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 Mechanicsville Listings” or “New Mechanicsville Listings” in the subject line and I’ll take care of the rest. No spam. For realsies.

I’m always on the lookout for new and interesting places to feature on NOTW. If you have a suggestion, I’d love to hear about it in the comments.

photo credit: AmyMo

The weekly poll is tired of the rain. Go vote and try to cheer it up a little.

This week’s topic has to do with something we’ve all been looking at all day: rain. More specifically, I’m curious what happens to your house inside and out when it pours rain like this all day long. Over at the Trottas’, we have a tendency to get a little mini-lake going in the backyard that likes to get dangerously close to the back door on days like today.

So what about you? What happens to your house when it rains cats and dogs? Could you go canoeing in your yard or maybe even in your basement? Or maybe you get some fun leaks that remind you it’s finally time to drop some major cash on a new roof? Cast your vote and let me know.

And thanks to @RussM for the idea for today’s poll question. If you have a suggestion for a Weekly Poll question, I’d love to hear it!

Get the latest news on the Knoxville real estate market rain or shine – just subscribe to All Around KTown in a feed reader or by email today!

This week Neighborhood of the Week heads down Northshore to revisit a little lake front community that, thanks to being the former home to a now infamous ex-UT football coach, is also the number one search term for this blog since last Tuesday: Victoria’s Inlet.

Located off Toole’s Bend Road in West Knoxville, Victoria’s Inlet has the best of both worlds: a secluded lake front setting that is also just a short drive to Northshore Drive and I-140.

It also has the distinction of being home to UT’s new football coach being the former home of UT’s former head football coach, Lane Kiffin. Way back in Ye Olden Dayes (aka, May, 2009), Kiffin managed to outdo Bruce Pearl’s $2,100,000 Gettysvue purchase when he bought a 6 BR, 5.5 BA, 7800+ sq ft lake front spread on 2.5+ acres for $2,600,000 . That should be easy to resell in this market…right?

Needless to say, homes in the neighborhood are on the large side, many were custom built, and most are less than 10 years old. And while some homes have very nice lake frontage, others have — at best — only a very nice lake view.

So if you’ve got deep pockets and you’re looking for a very nice, conveniently located lake front home, or maybe een just a super swanky pad with a nice lake view,  look no further than Victoria’s Inlet.

Special thanks  Bob Stockdale for these great shots of Victoria’s Inlet. You can see more of Bob’s work on his website.

Here’s Victoria’s Inlet by the numbers -

Victoria’s Inlet*

Current On-Market Listings -1
Asking Price: $859,500*
Details: 5 BR, 5.5 BA, 5500 sq ft, no lake frontage

*Note: This same property was for sale last summer by the same owners for $1,099,999.

Current Pending Sales -0
Average Asking Price: NA
Median Asking Price: NA

Closed Sales – 3rd & 4th Quarter 2009 – 2
Average Asking Price - $799,200
Average Sales Price – $747,500
Average Square Feet – 4442
Average Days on Market – 152

Closed Sales – 3rd & 4th Quarter 2008 – 1
Asking Price – $2,700,000
Sales Price – $2,550,000
Sq Ft – 7674
Days on Market – 81

*Data taken from KAARMLS on 01/18/10 and does not include adjacent neighborhoods or single family residences.

As always, if you want any more information about any of these properties 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 Victoria’s Inlet Listings” or “New Downtown Victoria’s Inlet Listings” in the subject line and I’ll take care of the rest. Spam just ain’t cool.

Know of a great community that would make an equally great NOTW? Let your voice be heard in the comments.

The weekly poll is finally doing its dishes. Roll up your sleeves and go help it dry.

This week’s topic has to do with something we all have to deal with sooner or later: house cleaning. More specifically I’m curious about what part of your house you consistently have a hard time keeping clean & tidy. For us, I would have to say it’s the kitchen, as both of us hate to load and unload the dishwasher. Oh, my kingdom for double dishwasher drawers!

So what about you? What part of your house do you struggle to keep clean? Is it the kitchen with its ever accumulating pile of dirty dishes? Or how about the single bathroom in a house with 3 people?  Or maybe it’s the one place company never sees – your bedroom? Cast your vote and let me know.

You don’t have to be a clean freak to keep up with the latest news on the Knoxville real estate market – just subscribe to All Around KTown in a feed reader or by email today!

photo credit: juicyrai