Real Estate (Knoxville, Oak Ridge, Seymour: insurance, low crime, mortgage broker)

[SolorzanoAssociates]

Hello I just moved to Tennessee from Florida. We came on vacation for the first time in December 2006 and bought a house and moved in May. Its crazy I know, but its ridiculously expensive in Florida. I wanted some input on the real estate here. We own a Mortgage Co. in Florida but was wondering if its even worth opening a mortgage co. here? Those of you who are realtors and brokers, how is the market here? Are people buying? And if so are you seeing more 1st timers or 2nd home deals? Just curious. Its either (a) open a Mortgage Co, (b) become a realtor, (c) or open a coffee shop. My choice would be (d) sailing....

Christina

[yankeeinknox]

I am a Realtor here in Knoxville and just started a few months back. Right now I would say the market is soft, but there are so many Mortgage companies it is very competitive. I can ask around for you and see what other Mortgage brokers have to say, I do know a few. Good Luck!

[SolorzanoAssociates]

Thanks, quick question.. What is the typical comm spli here between realtor and co.? Do recommend a particular Realty Co? I am in Dandridge....

Thanks for all your help.

[sliverbox]

I Vote none of the above. There's already a glut of housing industry related professionals. The housing boom is over, so not exactly a good thing these days to start something in a new area. Coffee... your overhead in a food related field is LOW, as in less than 10% profit per year. That and there isn't a plethora of hip people in TN yet. Most go to Starbucks. On the other hand, college is cheap in TN. Perhaps go to school and get a degree in Business.

[Tony1790]

I was going to post something similar, but stopped myself. But I do concour, the flower is off of housing and lending in general....look at the Bear Stearns fund implosion and tell me that does not have systemic risk plastered all over it for the financial markets and credit.

Anywho, coffee is my pet project that I'd like to start, but Starbucks is starting to feel the pinch of higher gas prices, etc and is loosing money as people cut the $5.00 latte when times start getting tougher.

What about a credit restoration company or a credit rescue company, it's kinda trashy, but I'd think there's money to be made there over the next few years and it's in the financial's business area......dang there's an idea for me

Tony

[hiknapster]

Open a restaurant in Knoxville. There are not a lot of restaurants that aren't chains and the line to get into any restaurant is ridiculous. I'm not kidding.

Tennesseans are adventurous when it comes to food. I think they have not had a lot of variety and really welcome it.

[SolorzanoAssociates]

Thanks everyone... We offer Credit Repair, and I can tell you first hand its not easy. We have done this for over 5 years in Homestead, FL, and still have the company there, but have tried to weed out most new clients. Especially when you offer full money back guarantee if a 600 median is not obtained. Keep in mind you should know some consumer law, prior to getting into this. As anyone can dispute a credit report online for free. Food, is an exclavitude as we latins say. I was under the impression the market was picking up out here. Especially with all the out of towners such as myself, looking to buy a home with affordable taxes and insurance. I know many Floridians who are thinking or who have already purchasedhere. And you may not know but Tennessee advertisements are everywhere in Florida, Texas, even California (I'm sure other places too). There has been quite a buzz, thus why we decided to come out and see for ourselves. Hmm, odd that the market isn't better here.

[Rcm58]

Hi i'm familiar with homestead and the readlands area, i'm sure you had your hands full. This area hasn't really evolved into the South Miami or Boca areas yet so I tend to agree with the others here. I've never lost my NY accent so I would'nt even dream of trying to compete in real estate anymore. If your a profesional you know people buy from people they feel comfortable with, you don't send a guy in a ford pinto over to get a listing on a $500,000 house, makes me quiver to think of being a slave to an office again anyway.

[yankeeinknox]

Commision is different with every company. Of course the more you sell the more you make. I think from experience the company you should choose is the one with the best training. You have some out there that pay high commision and dont have no training. If you are a seasoned Realtor than that's ok but if you are new, you need all the training you can get. The Kaar does give you some free, but that is all basic. If you need any more help let me know. Good Luck!

[reneejohnson]

I am looking at property around Oak Ridge or outside Knoxville or Dandrige or Seymour, but I'm not locked in to these specific cities. Need at least 20 acres for our horses. Do any of you realestate people have anything? I want good schools and low crime, in the country.
Renee