I’ve been working with a lot of buyers lately, and – in addition to causing me to neglect this here blog – it’s made me think a lot about price expectations. More often than not, buyers tend to have somewhat unrealistic expectations of how much home they can get for a certain amount of money. This is especially true with people coming in from out of town who have heard stories of being able to get a brand new, 2000+ sq ft home in West Knoxville – possibly on the lake! – for just $150,000. Um, yeah. Not. It usually takes driving around for a few days and looking at some real dogs to convince them that this is not, in fact, the case.
So, in order to try to save myself some gas and also because I love digging in the MLS at the end of a long, hard week, I’ve decided to do a semi-regular series exploring what kinds of homes you can get in different areas of town for various price ranges. My plan is to start low – way low – and work my way up to the Cool Homes You Can’t Afford range. Sound like fun? Then let’s begin!
Our first price range is $0 – $50,000.Yes, there are single family residences listed in Knox County for less than $50,000 – 97 as of today, in fact. But as you might expect in this price range, a lot of them are foreclosures, most of them are small, some of them are in need of repairs, and almost none of them are in West Knoxville.
Here are some examples of what you can get in this price range in North, South, East, and West Knox County:
3 BR, 1 BA, 800+ sq ft off of Young Ave. ($50,000)
2 BR, 1 BA, 700+ sq ft in Sunset Park ($41,500)
That’s all for this price range. I’ll be looking at the next price range soon – just after I go back out and show about another 100 houses. Stay tuned!