Real Estate Market in Chattanooga
Posted 09-11-2013 at 05:21 PM by BrianRKelly
One of my agents is a real estate investor. He owns 20 homes and rents them here in Chattanooga. He always lends an interesting perspective on what is going on.
He is noticing that the HUD foreclosures are not lasting as long and selling for more than what he was willing to pay.
He has raised about $500,000 in cash to spend for houses but is having a difficult time finding "slam dunk" flips, etc.
I am more old school broker and one thing that I have analyzed is that up to $325,000 it is fairly smooth sailing for a seller in Chattanooga, TN.
Months of inventory does not hit double digits until you get to the $325,000 mark.
Buyers are picky and choosing newer homes. So if you are a seller and your home is less than $325,000, you need to change the price, condition or marketing strategy.
If you own $1M or more there is over 3 years of inventory on market.
New construction is selling from $95-$165 /sqft. Most of the middle range is from $100-$115 per foot.
Hope this helps! Holler if you have a question.
He is noticing that the HUD foreclosures are not lasting as long and selling for more than what he was willing to pay.
He has raised about $500,000 in cash to spend for houses but is having a difficult time finding "slam dunk" flips, etc.
I am more old school broker and one thing that I have analyzed is that up to $325,000 it is fairly smooth sailing for a seller in Chattanooga, TN.
Months of inventory does not hit double digits until you get to the $325,000 mark.
Buyers are picky and choosing newer homes. So if you are a seller and your home is less than $325,000, you need to change the price, condition or marketing strategy.
If you own $1M or more there is over 3 years of inventory on market.
New construction is selling from $95-$165 /sqft. Most of the middle range is from $100-$115 per foot.
Hope this helps! Holler if you have a question.
Total Comments 2
Comments
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Hey, there!
Haven't seen you around here in a while. Hope you get to drop by when you can. You've got some great real estate writings and I hope you get to share some more with us soon. 
Posted 10-02-2013 at 05:29 PM by malfunction
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Thanks for the comment. I appreciate that. As an agent you get in times where things get busy and it is tough to follow up in all places. I am fairly new to blogging about things. What are real estate things you may be curious about?Posted 10-13-2013 at 03:23 PM by BrianRKelly
