Chattanooga home sales strong Volunteer Site to Hunter Road 2013. This Chattanooga Realtor loves looking at recently sold home numbers. Over 8 homes sell each month in this area and currently there are only 39 homes for sale. This is a relatively small physical area compared to some of the other MLS divisions. Popular neighborhoods include Hamilton on Hunter, Flagstone, Hunter Village, Hunter Glen, Magnolia Creek, Crooked Creek, and Twin Oaks.
Most of the area is zoned for Wallace A Smith Elementary, Hunter Middle and Central High School. The MLS area named (Volunteer Site to Hunter Road) is mostly in Ooltewah zip code of 37363.
The average price home sold for $164,259 in the last year. With no consideration for year built the sold homes average $83 per foot. Hamilton on Hunter is the largest of the neighborhoods.
Jobs at Volkswagen and Amazon are a huge reason for this area’s success. Modest homes in the meat of the Chattanooga market create a great home selling market.
Of all the Chattanooga MLS areas, the Volunteer Site to Hunter Road area has the lowest months of inventory currently. A close second is Red Bank. I find that interesting, because Red Bank recently experienced a recent washout of commercial property values.
Chattanooga Home sales are fun to watch. If you considering a home purchase close to Volunteer Site to Hunter Road then do not blink if you find a decent match. This is the closest thing to a seller’s market in Hamilton County, TN. Chattanooga home sales strong Volunteer Site to Hunter Road 2013.
Marketing Home for SaleHamilton County TN Home Inventory Low Below $325,000. Judging by last 6 months sales, Chattanooga real estate market is good for sellers IF you have a home priced for sale below $325,000. Months of inventory is in single digits for all homes below $325,000. What is months of inventory? The time in theory that it would take to sell all the existing homes for sale if no others entered the competition. Months of inventory is simply a barometer of the Chattanooga home market health. The market measured in this chart shows only Hamilton County, TN. You may wonder why inventory levels of lower price homes is not higher. I have written in earlier posts that the lower priced homes have not been selling as well. The fact is that fewer homes priced under $100,000 have sold in 2013, but the inventory levels remain low relative to the existing sales. My observation is that fewer foreclosures are selling and investor activity is slowing. Chattanooga homes are selling quite well, especially homes that are younger or have been rehabbed.
If you have a house for sell that happens to be in a price range that extends into double digits, don’t panic. The chart is for the entire county. Not your subdivision or area of town. We need to dig a bit more for your neighborhood.
Do you have a house for sell that is in a short bar, but it is not attracting an offer? Then my suggestion is to make your property more attractive, lower the price, or increase marketing to attract more potential buyers. (or perhaps all three)
Selling a house is simple. Turning loose of home is difficult.
Hamilton County TN Home Inventory Low Below $325,000. Perhaps it is time to consider a move!
Chattanooga Foreclosure Home Sales Down 2013. 2013 brought large shifts in Hamilton County, TN real estate. The number of foreclosure and short sales in the overall Chattanooga MLS area dropped 40% when comparing June-August 2012 to same months 2013. The other interesting note is that, while the overall number of home sales dropped slightly, there are much larger shifts in price ranges. The market above $200,000 saw a 17% jump in sales in this same 3 month period comparing 2012 to 2013. The homes selling for $100,000 and less dropped 24%. (Note: based on entire Chattanooga MLS, North GA and surrounding TN counties)
Real estate agents focusing on newer expensive construction are doing well. Rehabbers and flippers working with REO and foreclosures are finding work more challenging.
The real estate market is good in Chattanooga, TN. You may have to exercise a bit more patience to find a deal out there. There are 2,646 homes for sale in Hamilton County, TN this morning. 140 (5%) of them are REO, foreclosure, or potential short sale listings.
Here is a list of the current foreclosure listings priced $200,000 and greater in Hamilton County.
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Chattanooga Foreclosure Home Sales Down 2013, but there are still great deals out there to be made for the smart home shoppers!
Chattanooga Hamilton County TN One Million Dollar Home Sales Since 2006. Hamilton County TN consistently produces annual double digit Realtor assisted sales of homes selling for more than $1,000,000. 138 homes have sold for more than $1,000,000 since January 1, 2006. Let’s take a look at the areas of Hamilton County and the neighborhoods that make up the sales.
1. Lookout Mountain, TN 28
2. Riverview 26
3. Museum Bluffs (condos) 9
4. The Enclave 7
5. Horizons 6
6. Hill Pointe 4
Museum Bluffs, Riverview, Horizons, Hill Pointe, Lookout Mountain, The Enclave
The sales price as calculated by price per square foot can be grossly misleading. When I average these numbers we are not considering the acreage, views, waterfront, etc. But dang, if they aren’t fun to make quick comparisons. Besides, who doesn’t like a ranking?
1. Museum Bluffs $455
2. Riverview $279
3. Horizons $259
4. Hill Pointe $235
5. Lookout Mtn. $201
6. The Enclave $193
Lookout Mountain homes feature a historic area and many have brow views. The oldest home sold since January 2006 over $1 Million was built in 1890. Riverview is a community close to Chattanooga Golf and Country Club and downtown Chattanooga. The oldest home in Riverview sold in this time was built in 1900. Museum Bluffs is a downtown riverfront condominium. Museum Bluffs was constructed in 2006. The Enclave is located between Hixson Pike and some lots are on the Tennessee River just south of Lupton City in 37415. Horizons is a newer home community in Ooltewah. It is located off East Brainerd Road past Ooltewah-Ringgold intersection. The oldest home was built in 2001. Hill Pointe is a new development in Red Bank. The oldest home was built in 2007 that sold in this time frame. Both Horizons and Hill Pointe enjoy nice views with decent elevation.
Chattanooga Hamilton County TN one million dollar home sales since 2006 are steady. The market inventory is all together a different matter. There are currently 59 active properties for sale in Hamilton County priced $1,000,000 or greater. The sales are pacing 1.5 per month. So there is over 3 years of inventory currently. The lesson is that newer homes sell and location matters greatly.
Top 5 Home Selling Neighborhoods Hamilton County TN 2013. The time period of sales is first 8 months of 2013. I am writing this September 4, 2013. The top 5 in number of homes (no age or price involved) sold are as follows:
1. Hamilton on Hunter 58 (25 of those are Hamilton on Hunter North)
2. One North Shore 34 (this is a condominium complex)
3. Black Creek 23
4. Stonewall Farms 22
5. Windstone 20 (10 are Windstone at Whisper Creek)
Bell Development has two of the Top 5 Home Selling Neighborhoods Hamilton County TN 2013
The number one winner is Bell Development’s Hamilton on Hunter. Hamilton on Hunter is located off Hunter Road in Ooltewah. The neighborhood is 26 years old and covers roughly 640 acres. The newer Hamilton on Hunter North is approximately 275 acres. The 58 home sales in 2013 range from $75,000 – $241,500. The price per square foot ranged from $44 – $120. Hamilton on Hunter North is zoned for Wallace A. Smith Elementary School, Hunter Middle, and Central High School. Hamilton on Hunter enjoys newer construction and proximity to jobs at Volkswagen and Amazon.
The number two winner is a great story for Chattanooga. It is a condominium complex. There are 34 condo sales so far this year at One North Shore. The 2013 sales saw a low of $149,500 and a high of $374,000.The average price per square foot is $217. I shared a few insights in this former article about One North Shore. I was really impressed with the level of services and amenities One North Shore offers its owners. One North Shore enjoys location near downtown and it’s adjacent to parks, retail and grocery.
The third place finisher is Black Creek Mountain. Black Creek Mountain is a golf course community in Lookout Valley. Lookout Valley is less than 10 minutes from downtown Chattanooga. New homes are under construction as a new developer makes their way up Aetna Mountain. The neighborhood is 13 years old and is home to Black Creek Golf. Club house expansion, varied price points and styles, combined with location near downtown are all continued draws to this community. The 2013 price range is from $114,000 condo to $655,000 single family home.
Fourth place goes to Stonewall Farms. Stonewall Farms is another Bell Development. It is located in Hixson. Stonewall Farms is a more traditional neighborhood with home prices from $179,900 to $334,000 for 2013 sales. Stonewall Farms is 10 years old. Half of the home sales in 2013 were new home sales. New homes in Stonewall Farms are selling on average at $119 per square foot.
Fifth place goes to Windstone. Windstone is a golf course community located in Ooltewah. (Important Note: Windstone is also in Catoosa County, GA or Ringgold , GA. If we included all of Windstone there would be 30 sales year to date. But this story is about Hamilton County only). I wrote this article about homes at Whisper Creek in Windstone. The 2013 sales ranged in price from $200,000 to $422,000. Newer construction in Whisper Creek is averaging $140 per square foot.
In summary, all of the Top 5 Home Selling Neighborhoods Hamilton County TN 2013 enjoy a decent amount of newer construction. There are new homes being built in 4 of them. One North Shore is only 5 years old and it is enjoying growth of downtown living with a strong dose of amenities and an excellent marketing campaign. Top 5 Home Selling Neighborhoods Hamilton County TN 2013 list was compiled using the Multiple Listing System (MLS of Chattanooga Association of Realtors). Only Realtor assisted sales were considered in the data.
Former Cummings Cove fountain now Black Creek MountainCummings Cove fountain becomes Black Creek Mountain. Black Creek Mountain is the name chosen for the entire development that includes the former Cummings Cove neighborhood and Black Creek Golf Club. The new developers purchased a majority interest in the project which includes brow property on Mount Aetna overlooking Chattanooga, TN. Downtown Chattanooga is less than 10 minutes away around the Moccasin Bend of the Tennessee River. Cummings Cove is the original neighborhood marketed along side Black Creek Golf Club. Cummings Cove is not the only name change in the immediate area. Ask a local what the name of 37419 really is, you will get three answers 1.) Tiftonia, 2.) Wauhatchie, 3.) Lookout Valley. A decent history of the area name changes is at this website.
The name change for Black Creek Mountain is very smart for marketing purposes. The only confusing part is explaining to someone I live in the valley of a neighborhood called Black Creek Mountain. The glorious part is that Mount Aetna stands tall and apparent waiting to be scaled. (That is another story or two that is still being written). Back to my story.
In 1999, Sue Shaw and Greg Shaw introduced my parents to Cummings Cove. Jim Chapin, the developer, was looking for marketing and sales support. Support in the way of commitment. My parents, Ben and Karen Kelly, asked me to go to a meeting off Cummings Road to meet with Jim Chapin. Jim explained his vision and I saw the potential success of the project immediately because of the the age old axiom of real estate, Location, Location, Location. Development in Hamilton County, TN was primarily North towards Soddy Daisy, and East, towards East Brainerd and Ooltewah. Commute times to these corners of Hamilton County, TN were approaching 30-55 minutes in rush hour. This neighborhood was less than 10 minutes from downtown and had an interstate (I-24) and U.S. Highway 41 to get you there. The challenge was to educate folks about the driving time and that Lookout Valley was not only a fun place to play, but a wonderful place to call home.
Jim Chapin, Cummings Cove developer, is a gifted man. He has a great vision for what a neighborhood space will become, a razor sharp numbers brain and he wisely listened to other developers who had pulled off other successful projects. I had cut my teeth on retail home sales, but had to quickly learn how to focus only on new construction. I traveled to Raleigh, NC, and Orlando, FL, with others to meet with New Home Marketing and Sales organizations. I joined the Builder Marketing Society and read the bible for new home sales “New Home Marketing” by Dave Stone. Building a team that could market and sell this golf course community was truly intense and fun.
I truly think that one aspect of the neighborhood’s success was Jim Chapin’s core understanding of marketing. He grew up in the family that built and stewarded Rock City Gardens. Rock City is an icon of the community that had a history along side Judge Will Cummings and the building of Highway 41 (If you are a child of the 70s and know Rambling Man lyrics) or Cumming’s Highway (as locals know it). Judge Will Cummings was a colorful man that literally helped pave the way for traveller’s to visit Famous Rock City. I met Jim on the porch where (it is speculated that the concept of TVA was born on the same porch) Franklin Roosevelt visited with Will Cummings.
This was the start of my journey selling Cummings Cove, “Chattanooga’s Premier Golf Course Community”. The first sales office was the old Will Cummings home place. My family got involved as Mary Dee, my wife, helped decorate the Cummings home place for Christmas, and cooked for the builder team.
1999, the year of Y2K and the dawn of a new century. A dawn of a new neighborhood that did change Lookout Valley and provided a home for my family for the last 12 years.
Cummings Cove fountain becomes Black Creek Mountain, and for the story to continue, I am glad it did. For a brief view of what the neighborhood is like, check out this short 2 minute video.
Marketing Home for SaleYou have a 62% chance of selling your home in Hamilton County, TN when you list it for sale with a Realtor. Real estate agents who belong to the National Association of Realtors (NAR) use a system called the Multiple Listing System (MLS) to help each other market and sell homes. As of middle August of 2013, 62% of all the listings taken (Hamilton County, TN only) in 2012 have sold. The number as of April 1, 2013 was 54%. Perhaps we should look later down the road? Not necessary, the number of listings that were taken in 2011 was 6,278 and the number sold as of August, 2013 is 3,512 (or 56%). Why is this important? A few reasons are as follows:
1. You need to know that you have a 38% chance or better of failing. Your baby is … well your baby! Home is home and it stings a bit when you see others getting Sold signs when yours is not. I remember the feeling of getting chosen last for kickball, or getting red marks on English papers. The market can be a harsh judge.
2. If you want or need a 95%-100% chance of selling then you need to make sure you are working closely with your Realtor. There are characteristics of a winning campaign. Bottom line is A. Getting willing and able buyers into your house, B. Staging and pricing to attract an offer, C. Building and nurturing an agreement to closing.
3. If your real estate agent is getting people into the home with showings from other agents but there are no offers then A. price is too high, or B. condition is lacking. Period. It is that simple. I was cutting the grass the other day and a neighbor stopped to talk. She said she would be placing her home on the market soon. I asked her where she was moving. She replied that she received an email from an agent regarding a price reduction for a nearby town home and decided to buy it. She had been thinking of moving out of town because prices were so high locally. She is a former real estate agent. She would not “offend” the seller by offering what she was willing to pay for a home she wanted. The discount for the asking price compared to the sales price is 4.5% ! So a $300,000 will sell for $287,100 on average. If that house is listed for $325,000, then many buyers may simply make an offer on a more “affordable” house. If you are a house seller, please consider.
4. Feedback, Feedback, Feedback – breakfast of champions. What are buyers and agents telling you?
5. If you are getting offers but no agreements (contracts) then A. Price still may be too high for market, B. You and or your agent may need good coaching/mentoring, C. Property condition may need changing.
6. Many sellers do not “have to” sell and use the “free” services of a listing agent to “try” the market. Why not? Many agents are eager to “take” listings”. Many others have borrowed to much against their real estate and simply cannot sell for what they owe.
7. Staging and stories matter. Fresh paint, vignettes that spark imagination and the “ability” to “see” yourself living there… are critical emotional hooks.
Choosing the correct real estate agent for your property and situation does make a difference. Hunters and fisherman pay guides well to achieve success in their endeavors. Whether a seller or buyer (with or without an agent), decide on what chance of success you want and make it happen!
Chattanooga home sales strong Volunteer Site to Hunter Road 2013. This Chattanooga Realtor loves looking at recently sold home numbers. Over 8 homes sell each month in this area and currently there are only 39 homes for sale. This is a relatively small physical area compared to some of the other MLS divisions. Popular neighborhoods include Hamilton on Hunter, Flagstone, Hunter Village, Hunter Glen, Magnolia Creek, Crooked Creek, and Twin Oaks.
