The Weekly Poll: How worried are you about the Knoxville real estate market?

August 29, 2010

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Something to cheer you up...
Creative Commons License photo credit: Silly Little Man

The weekly poll is kind of concerned about last week’s housing news. Go vote and try to calm it down.

This week’s poll topic has to do with all the (not so great) news that came out last week about  national and local home sales in July. Unless you live under a rock, you probably know by now that national and local homes sales were down by almost 30% last month following the ending the home buyer tax credits, which has some people kind of worried about the current state of the Knoxville real estate market (I talked a little bit about this on WBIR this week as well).

However, not all the local news was bad, as prices for 4+ BR homes were up and average days on market was down. Not to mention the fact that we are still enjoying some super awesomely low mortgage interest rates right now.  I’m out there in the housing trenches every day and although it’s happening a lot more slowly than I’d like, I’m still seeing houses showing and selling, which gives me a lot of hope.

Still, a drop that big is bound to make people nervous, so I’m curious: how nervous is it making you? Nervous enough to postpone buying or selling a home? Or maybe you’re just not the worrying kind? Cast your vote and let me know!

Don’t worry — getting the latest news on the Knoxville real estate market is free and easy! Just subscribe to All Around KTown by RSS or email today!

Creative Commons License photo credit: Tracy O

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The Weekly Poll: What are your monthly housing expenses?

August 22, 2010

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Money!

The weekly poll is over there paying its mortgage. You didn’t think I let it live here for free did you?

This week’s poll topic is one I’ve asked about before, but which is maybe even more relevant now than ever: housing expenses and what they’re costing you each month.  Whether you have a mortgage or just a landlord, not many of us are lucky enough to not have to pay someone once a month for the luxury of having a roof over our heads. And for some of us that cost is minimal, while for others it can be quite a hefty chunk of change.

RESULTS:

How much do you pay for housing each month?

  • $1000-$1500 (44%, 7 Votes)
  • $500-$1000 (38%, 6 Votes)
  • Nothing. I own my home outright and/or I live in a teepee. (6%, 1 Votes)
  • $1500-$2000 (6%, 1 Votes)
  • More than $5000 (6%, 1 Votes)
  • Less than $500 (0%, 0 Votes)
  • $2000-$3000 (0%, 0 Votes)
  • $3000-$4000 (0%, 0 Votes)
  • $4000-$5000 (0%, 0 Votes)

Total Voters: 16

So what about you? How much does it cost you each month to live in the place you call home? Whether it’s a little or a lot, cast your vote and let me know.

The cost of housing may be steep, but the cost of getting information on the housing market doesn’t have to be. In fact, you can gett the latest news on the Knoxville real estate market for free -  just subscribe to All Around KTown by RSS or email today!

Creative Commons License photo credit: Tracy O

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The Weekly Poll: How far down do you think sellers will go?

August 15, 2010

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Saving is for wimps! I have a plan for affordable housing.

The weekly poll is driving a hard bargain. Go help it with negotiations.

This week’s topic is one I asked about around this time last year, and which is, unfortunately, still a pretty relevant topic in this buyers’ market: how much less than listing price you think the average seller is willing to take to sell their home? In this market it seems that no matter how close to market value you list a property, there are always buyers are going to offer a lot less and have no intention of winding up anywhere near to asking price. While some of these offers are ambitious, others are just downright delusional. And if everyone is lowballing, that makes pricing a listing even more challenging. If you price it too high, it won’t show. But if you price it at or below market, you’ve lost your “lowball” wiggle room. It’s a conundrum.

So I’m curious about what you think. How much less than list price do you think the average seller will accept in this market? Just a little or do you think most sellers have padded their prices by a hefty percentage?  Cast your vote and let me know.

RESULTS:

How far below asking price do you think think the average home seller is willing to go?

  • 5-10% (64%, 9 Votes)
  • 11-15% (21%, 3 Votes)
  • < 5% (7%, 1 Votes)
  • In this market? As low as they need to to get it sold. (7%, 1 Votes)
  • 16-20% (0%, 0 Votes)
  • > 20% (1%, 0 Votes)

Total Voters: 14

You don’t have to drive a hard bargain to get  the latest news on the Knoxville real estate market  – just sign up to receive regular updates from All Around KTown in a feed reader or by email today!

Creative Commons License photo credit: woodleywonderworks

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The Weekly Poll: How happy are you with your current home?

August 8, 2010

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tsallam's countdown

This week’s poll is trying to decide how much it likes its home here at AAKT. Go vote and tell it not to move.

This week’s topic is a pretty simple one: on a scale of 1-10, how much do you like your current home? I’m pretty happy with my own home, but I’m still always thinking about things I’d like to change or things that can’t be changed that I wish were different. On a scale of 1-10, I think I’d give my place a 7.

So what about you? Is your home a perfect 10 or is it a 1 or 2 that you can’t wait to get rid of? Or maybe it’s somewhere in between? Cast your vote and let me know.

RESULTS:

    How happy are you with your home on a scale of 1-10?

  • 8 (30%, 6 Votes)
  • 7 (30%, 6 Votes)
  • 9 (15%, 3 Votes)
  • 5 (10%, 2 Votes)
  • 1 – I hate it! (5%, 1 Votes)
  • 10 – I love it! I never, ever want to move. (5%, 1 Votes)
  • 4 (5%, 1 Votes)
  • 3 (0%, 0 Votes)
  • 2 (0%, 0 Votes)
  • 6 (0%, 0 Votes)

Total Voters: 20

You don’t have to love your home to get the latest news on the Knoxville housing market.  Just subscribe to AAKT in a feed reader or by email today!

Creative Commons License photo credit: JolieNY [poking head out to say hi!]

The Weekly Poll: What age home would you buy today?

August 1, 2010

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McHouse Under Construction

This week’s poll is tired of doing so much home maintenance. Go vote and help it look at new home plans.

This week’s topic is a continuation of last week’s, but instead of wanting to know what age home you currently live in, I’m now curious what age home you would buy if you had to buy another home today.

I often work with buyers who would never live in a newer home and buyers who would never live in an older home. But I also work with buyers who have either a) lived in an older home and are tired of/can no longer manage all the “old home” maintenance and therefore want to buy something newer or b) live in a newer home but don’t like the quality of construction/perceived lack of character/living in a subdivision.

So I’m curious: if you had to buy a home today, what age home would you buy and why? Would you go new because want something low maintenance or with modern amenities like walk-in closets and large master suites? Or would you go old because you like a bigger lot or older architectural details? Cast your vote and let me know. And if you have an opinion about what age home is best, let me know about it in the comments.

RESULTS:

If I were buying a home today I would buy:

  • An older home. Lots of character in a nice, older neighborhood is where it’s at!(54%, 7 Votes)
  • Any home that has been well maintained, is priced right and fits my needs. Age doesn’t really matter to me. (31%, 4 Votes)
  • A newer home. No maintenance + modern floor plans & amenities= win! (15%, 2 Votes)

Total Voters: 13

No matter what age home you love the best, you can always get the latest news on the Knoxville housing market.  Just subscribe to AAKT in a feed reader or by email today!

Creative Commons License photo credit: Dean Terry

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The Weekly Poll: How old is your home?

July 25, 2010

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New! and exciting
Creative Commons License photo credit: TheGiantVermin

This week’s poll is trying to decide between a brand new or an older home. Go vote and help it make a list of pros and cons.

This week’s topic is a pretty simple one: how old (or new) is your home? I work with a lot of buyers and show a lot of homes all over Knoxville and in a week I can easily go from brand new construction to 100 year old historic homes. I’m always fascinated about what draws people to new or older construction. Sometimes it’s maintenance, sometimes it’s location and sometimes it’s just the “feel” of the neighborhood.

So I’m curious: how old is the home that you currently live in? Is it brand spanking new or is it going to spanning two centuries? Or maybe it’s somewhere in between? Cast your vote and let me know. And if you have an opinion about what age home is best, let me know about it in the comments.

RESULTS:

How old is your home?

  • 41-60 years (24%, 5 Votes)
  • < 10 years (19%, 4 Votes)
  • 10-20 years (19%, 4 Votes)
  • 81-100 years (14%, 3 Votes)
  • 100+ years old. For reals! (14%, 3 Votes)
  • 21-40 years (10%, 2 Votes)
  • 61-80 years (0%, 0 Votes)
  • Don’t know. (0%, 0 Votes)

Total Voters: 21

No matter how old your home is, you can always get the latest news on the Knoxville housing market.  Just subscribe to AAKT in a feed reader or by email today!

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The Weekly Poll: What’s the best thing a home seller can do in this market?

July 18, 2010

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Written By A True Businessman
Creative Commons License photo credit: chriswatkins

This week’s poll is anxious about selling its home. Go vote and tell it to stop pacing the floors.

This week’s topic is one I asked about almost 2 years ago, but which is, sadly, still relevant today: how home sellers can best handle the current Knoxville housing market? Things have gotten slightly better, at least for the last few months, but there’s no doubt that inventory is still above average and home prices are still not on their way back up. And I know I certainly have more than a couple of sellers who are anxious about when their homes are finally going to sell and wondering about what they (or I) can do to make it happen faster.

So what do you think? What’s the best way for a seller to make their home stand out from the competition? Good marketing? Excellent curb appeal? Awesome price? Cast your vote and let me know.

RESULTS:

What is best thing a home seller can do in this market?

  • Price their home competitively.(36%, 8 Votes)
  • Be willing to negotiate all offers. (27%, 6 Votes)
  • Hire a great agent to market their home aggressively.(18%, 4 Votes)
  • Make sure their home is in pristine condition. (9%, 2 Votes)
  • Wait until about 2012 to sell.(10%, 2 Votes)

Total Voters: 22

A great way for both buyers and sellers to handle any Knoxville housing market is by keeping up on all the latest real estate news at All Around KTown. Don’t get left out of the loop – subscribe to AAKT in a feed reader or by email today!

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The Weekly Poll: Do you have money set aside for home repairs or maintenance?

July 11, 2010

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Buck eye
Creative Commons License photo credit: Roger Smith

The weekly poll is looking for spare change to fix a leaky roof. Go help it look under the couch cushions.

This week’s topic is one we all have to think about at one time or another as homeowners: home repairs and maintenance. More specifically, I’m wondering if you have money set aside somewhere to pay for either regular or unexpected home maintenance.

We live in an older home with older systems that requires maintenance and try to budget to stay on top of it. For example, we painted the exterior last year and plan on replacing the roof this year and possibly the HVAC next year (come on baby, just give us one more good year — you can do it!). But we also have had to deal with the things we didn’t budget for: a collapsed sewer line and a leaky toilet that rotted out a  bathroom floor. Blurg.

Even if you live in a brand new house, there’s usually no getting around the fact that sooner or later, you’re going to have to invest some dough into your domicile. While you can do your best to avoid costly replacements and repairs like roofs and HVACs by buying new, you can’t always control a tree falling on your roof or a tree root wreaking havoc with your plumbing system. Sure, homeowners insurance will cover some of these scenarios, but it won’t cover everything and there’s always the little matter of the deductible that has to be paid.

So what about you? Do you have some cash set aside for routine maintenance as well as unexpected home repairs? Or are you living life on the edge? Cast your vote and let me know.

POLL RESULTS:

Do you have cash set aside for home repairs or home maintenance?

  • Sure do. You never know what can happen. (45%, 5 Votes)
  • A little. Hopefully insurance would cover anything really expensive. (27%, 3 Votes)
  • Nope, and that’s why I’m still a renter! (18%, 2 Votes)
  • Nope. And there’s already lots that needs to be done to my home. (9%, 1 Votes)
  • No, but I bought a new home/condo/maintenance free home to avoid such expenses.(1%, 0 Votes)

Total Voters: 11

Save your cash for home repairs – you can always get the latest info on the Knoxville real estate for absolutely free  - just sign up to receive regular updates from All Around KTown in a feed reader or by email today!


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The Weekly Poll: Would you make money if you sold your house today?

June 27, 2010

(2) Comments

www.weltstehtkopf.de
Creative Commons License photo credit: backkratze

The weekly poll is trying to figure out if its upside down in its house or not. Go vote and help it crunch some numbers.

This week’s poll topic is one I’ve been dealing with and talking to a lot of people about lately: would you make money if you had to sell your home today? It’s no secret that it’s been a tough couple of years in the housing market, and even though it looks like we may finally be seeing the glimmer of light at the end of the tunnel, the rate of home appreciation is still sluggish. Determining potential market value of a home and helping a seller determine their possible net profit from the sale of their home has always been a part of my job, but these days it seems like it’s one of the most critical — and sometimes least happy — parts. Quite simply, some folks, especially those who bought at the height of the market, simply aren’t going to make any money when they sell their homes. A few may even have to bring money to the closing table in order to move. Ouch. However, I also talk to folks who have plenty of equity in their homes, but simply aren’t willing to accept that their property hasn’t continued to appreciate at the rate it was back in ‘04 or ‘05. Newsflash: the bubble burst a while ago, people.

So what about you? If you had to sell your home in today’s market, how would you fare? Would you make back at least what you paid for it? Make out like a bandit? Or would you feel like you were the one getting robbed at the closing table? Cast your vote and let me know.

You don’t have to have a lot of equity to get the latest news on the Knoxville real estate market – just subscribe to All Around KTown by RSS or email today!

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The Weekly Poll: Is your AC able to beat this heat?

June 20, 2010

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The hottest day of my life so far
Creative Commons License photo credit: David Reeves

The weekly poll is trying to beat the heat. Go see if it wants to take a run through the sprinklers with you.

This week’s poll topic comes to us from Russ McBee and has to do with this good ole fashioned heatwave and whether or not your home air conditioner is able to keep up with it. Our unit is old — think 20+ years old — and while it’s managed to keep the house relatively cool over the past week or so, it’s struggled quite a bit to do so (I swear I keep hearing “I think I can! I think I can!” coming from the compressor).

So what about you? Is your AC unit new, highly efficient and giving this heatwave a run for its money? Or is it old, cranky and barely able to keep up with this (seemingly) never ending heat? Cast your vote and let me know!

You may not always be able to beat the heat, but  you can always get the latest news on the Knoxville real estate market – just subscribe to All Around KTown by RSS or email today!

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