Knox housing market REALLY slow? (Memphis, Knoxville: mortgage, loans, real estate)

[hiknapster]

I avoid FSBO. Never look at it. I figure that they can't accept reality, didn't listen to their realtor; might be sinking fast due to bad financial mistakes.

Not my problem. I'm just looking for a home at a reasonable cost, and know the state of the economy and housing crisis.

And yes, East Tennessee, you have a financial crisis. The country does, and so do you, because you banked on all these people moving here and they can't.

Have a good day.

[12buttons]

Originally Posted by inave

We have our house up for sale also. We are getting several showings and have already had two offers. The first one met our price and even raised it so we would pay her closing costs but then proceeded to give us her "wish list" of things she wanted upgraded in the house. We wished her luck on finding her next home! The second offer was $8,000 below our asking price (which is VERY fair market) PLUS $3500 closing costs AND they wanted my almost-brand-new washer and dryer! I think buyers right now are under the mistaken idea that, since it's a buyer's market (supposedly), they can "steal" houses from sellers. Well, not these sellers!

how close is that nuclear reactor to where you live?

[hiknapster]

There is no nuclear reactor. It is much more than that. You might want to google it.

An hour into 9/11, Katie Couric said, "Oak Ridge has been secured. Oak Ridge has been secured. "


Watch the tape. Really.

[gemkeeper]

Hiknapster, those figures tell a very real HUGE story to most of us. But, there are always going to be those few (or many, I think, when it comes to selling their houses) who will deny that the housing collapse is going to affect them.

It is unrealistic in today's market to think that your house is going to sell in weeks or even a couple of months. No one can buy them. They are trying to get rid of their own houses. It is a never-ending cycle right now.

Then, unless you have great credit and a biiiggg down-payment, you are going to have to battle to get a decent mortgage for a new house.

Whatever you do, do not assume that you will sell for X dollars and buy a new house. Those dollars may never materialize, your house may not sell even within a year, and you will be paying on 2 houses. Not long before that shaky tower falls.

I never thought that I would be this pessimistic about the economy, but it is getting scary out there. Better to be overly cautious and come out a winner than to risk losing everything.

[hiknapster]

The economy affects us all.

Gem. Noticed that I used the correct the verb. Yes, that would be my Yankee education. I didn't write "effects."

Just pointing it out.

A public school education. Thank you, Massachusetts. Thank you Senator Ted Kennedy. You have been my great senator for many decades. I miss and Massachusetts.

When I lived in Florida, I thought I would die.

But I moved here, and I hated it. That fake "southern" thing drove us nuts. Eventually, we got decent jobs. I have no idea how. They had no intent on hiring anyone out of their area, and certainly weren't going to "pay" us.

The art museum is not worth the price of admission, and it is 5 bucks, I think. There are very few, if any decent restaurants. The houses are ugly, at best. I'm sure there are many Floridians that will love the cookie-cutter subdivisions of West Knoxville.

If we wanted Florida, with worse weather, well, we would have stayed in Florida.

So yeah, I am thinking of moving to Chicago. Seriously.

[sunshine girl]

Hiknapster- you are giving me valid reasons to discard Knoxville as a potential relocation. We, like others, are searching for a place to settle down and not move again. Oak Ridge is definitely one of those valid reasons. The search continues.......

[agraygirl]

I grew up in west Oak Ridge, its great! The schools are good and MANY of the people there are scientists from all over. You’re not going to get as much of a southern redneck feel in Oak Ridge. I never did get that southern drawl because, well, I wasn't exposed to it. (Linden Elementary, Robertsville Junior High, ORHS)

[mjb62676]

Originally Posted by hiknapster

I avoid FSBO.

Have a good day.

Lots of people are like you. I just don't happen to agree with them.

Realtors are completely unnecessary in most situations.

[mbmouse]

Originally Posted by hiknapster

I avoid FSBO. Never look at it. I figure that they can't accept reality, didn't listen to their realtor; might be sinking fast due to bad financial mistakes.

Not my problem. I'm just looking for a home at a reasonable cost, and know the state of the economy and housing crisis.

And yes, East Tennessee, you have a financial crisis. The country does, and so do you, because you banked on all these people moving here and they can't.

Have a good day.

hmmmm...funny that many East TN towns are and have been seeing an influx of people and number of house sales and permits rising for many many months now. Many towns have seen economic/retail sales growth.
Not saying you are wrong, I just believe there are always two or three sides to every situation and there is no one correct side/answer especially when it comes to predicting the future. I also can not recall one city or town ever stating they were "banking" on their survival by assuming masses of people were moving there. Some developers hoping to cash in? Yes, but that is their problems not the towns, the towns still get their money whether someone buys those houses or not. I know you brush off anything I have to say on this subject due to my profession but because of my profession I live and breath this stuff every day. Is it all an upswing all the way around? No but is it as much of a low point as you suggest? I do not believe so, but you can take or leave what I believe.

[mjb62676]

Originally Posted by hiknapster

The economy affects us all.

Gem. Noticed that I used the correct the verb. Yes, that would be my Yankee education. I didn't write "effects."

Just pointing it out.

A public school education. Thank you, Massachusetts. Thank you Senator Ted Kennedy. You have been my great senator for many decades. I miss and Massachusetts.

When I lived in Florida, I thought I would die.

But I moved here, and I hated it. That fake "southern" thing drove us nuts. Eventually, we got decent jobs. I have no idea how. They had no intent on hiring anyone out of their area, and certainly weren't going to "pay" us.

The art museum is not worth the price of admission, and it is 5 bucks, I think. There are very few, if any decent restaurants. The houses are ugly, at best. I'm sure there are many Floridians that will love the cookie-cutter subdivisions of West Knoxville.

If we wanted Florida, with worse weather, well, we would have stayed in Florida.

So yeah, I am thinking of moving to Chicago. Seriously.

For some reason, I thought you liked it here....maybe I had you mistaken with someone else.

I don't think our views on Teddy would be anywhere near the same unless you were being sarcastic.


W. Knoxville reminds me of Overland Park, KS, and every other place like it in this country....but, it's clean, and the schools are good....so I can see how folks would like it.