You still with me, Watchers? I know it’s strange times out there right now, but the weirder the economy gets, the more of these foreclosures there are probably going to be to watch. And since we may all actually own a stake in them soon, I’d say watching them is now more important than ever. Agreed? Then let’s get to it.

In this week’s episode of Foreclosure Watch, active listings are up, while pendings and closings are slightly down.

In new listing news, 37918 had the most new listings with 4, but 37917 is still well in the lead with 42 since I began keeping track in mid July. Other zips that contributed more than one new listings this week were 37914, 37917, and 37919. Yeah, West Knoxvillians get foreclosed on too. One zip code, 37938, joined the double digit club with 10 new foreclosure listings so far (insert obligatory “Halls has it” joke here).

In closed listing news, 37915 and 37917 both had 2, while 37913, 37918, 37921, 37922 and 37924 each had one.

Now for the breakdown:

Knox County Foreclosure Property Statistics as of 9/24/08 *

Current On-Market Listings - 165
Average Asking Price: $133,972
Median Asking Price: $90,000
Most Expensive New Listing: $698,900 (5 BR, 6 1/2 BA, 7800+ sq ft on Cherokee Blvd)
Least Expensive New Listing: $17,900 (2 BR, 1 BA, approx 1000 sq ft in Mechanicsville)

Notable New Listings:
North: $89,000 (3 BR, 1 BA, 1200+ sq ft in Fountain City)
South: $84,900 (4 BR, 2 1/2 BA, 1700+ sq ft in Lake Forest)
Downtown: $44,000 (2 BR, 1 BA, 900+ sq ft in Old Mechanicsville)
West: $69,900 (3 BR, 2 BA, 900+ sq ft off of Sutherland Ave.)

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Current Pending Sales -107
Average Asking Price - $96,699
Median Asking Price - $72,500

Closed Sales September 17, 2008-September 23, 2008 - 8
Average Asking Price - $61,663
Average Sales Price - $56,150
Median Sales Price - $38,450
Average Days on Market -54

*Data taken from KAARMLS on 9/24/08 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-a-lot is a Broadway musical, not something that will happen if you send me your email address.

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