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"we're in no hurry to move but are purchasing land now before the prices skyrocket. "
Please don't let this be the reason you buy land now. If you read the results of monthly housing reports, you'll see that TN right along with most other states are actually having a decline in sales. In fact, TN is 11th in the country for having the most foreclosures. That should say something right there. In fact, did you know that in Memphis, there were 19,738 homes sold in 2006, and there were 18,155 residential foreclosures last year? That is A LOT.
I think what many people here are totally forgetting is that the US has just gotten through the biggest housing bubble in it's history. The prices everywhere are totally out of whack with economics. It is only natural that people are shell shocked and having a knee-jerk reaction from more expensive states to buy up land like crazy in cheaper ones. But the bottom line is that the housing bubble has now burst from an unnaturally freakish level. Heck- Florida is already having some areas with 100k cuts on the prices.
In my opinion, anyone buying right now will more than likely be paying more than the land will be worth in a few years, even if the land is seemingly cheap. Just keep an eye on the prices and buy when you really need to, not because you think it will go up. Remember- TN is not FL or CA. Don't expect a massive rush from buyers like happened in FL. The speculative element is now gone.
Sorry to sound nasty. Just trying to throw in a word off caution.
No you don't sound nasty. you got a point but then again now is the time we can afford our mortgage and a land payment. we're not looking for huge acres, just 1 or 2 acres maybe something we can park our camper on. Our home will be paid for by the time we're ready to move in a few years so that will also pay off our land. we're in a unique situation compared to others who are drowning with the high cost of living in FL.
For years we thought we would move to North Carolina, but since doing research on here and finding out about taxes it seem Tenn would be the next best thing.
We both love the mountains and want cooler weather, we hate living in Houston.
Western N.C. is too expensive, eastern Tenn has the mountains and cooler weather and cheaper houses.
Besides the lifestyle.
Were you influenced at all by the retirees coming here?
Nope. Are there a lot of retirees there?
I've been a small business owner for 9 years in a tough economy, in the highest overall taxed county in the entire country. The reason I stayed here so long is so my son could grow up near his Dad. Now that he's old enough for college, I'm going to move to the place that feels right for me.
I guess you'd get as many different answers to your question as there are people on this forum. We're all looking for different things, but everyone just wants to feel at home.
"we're in no hurry to move but are purchasing land now before the prices skyrocket. "
Please don't let this be the reason you buy land now. If you read the results of monthly housing reports, you'll see that TN right along with most other states are actually having a decline in sales. In fact, TN is 11th in the country for having the most foreclosures. That should say something right there. In fact, did you know that in Memphis, there were 19,738 homes sold in 2006, and there were 18,155 residential foreclosures last year? That is A LOT.
I think what many people here are totally forgetting is that the US has just gotten through the biggest housing bubble in it's history. The prices everywhere are totally out of whack with economics. It is only natural that people are shell shocked and having a knee-jerk reaction from more expensive states to buy up land like crazy in cheaper ones. But the bottom line is that the housing bubble has now burst from an unnaturally freakish level. Heck- Florida is already having some areas with 100k cuts on the prices.
In my opinion, anyone buying right now will more than likely be paying more than the land will be worth in a few years, even if the land is seemingly cheap. Just keep an eye on the prices and buy when you really need to, not because you think it will go up. Remember- TN is not FL or CA. Don't expect a massive rush from buyers like happened in FL. The speculative element is now gone.
Sorry to sound nasty. Just trying to throw in a word off caution.
You know, that's a totally unique way to find where you'd like to live.
So, have you decided on which area within that triangle yet?
Quote:
Originally Posted by ALML
When my husband had bypass surgery, it suddenly occurred to me how REALLY far we were away from our families AND how diffulcult it was and would be for them to help or leave work etc to visit. Fortunately everything turned out fine but what a wake up call!!! I sat down with an atlas and drew a triangle between all necessary points, checked to see what would be max. of 6 hr. drive from each point and now we are in the planning stage! I have to say I orignially started a bit more central Tennesse but opted for the cooler mountains. Humidity will be a BIG change ...I spect my skin will fluff up like a marshmellow LOL And I can't wait to spend holidays and special times with everyone... plus all the common things like; no state income tax, mountains, hiking trails, and a reasonable housing market. My husband is from South Carolina so it did not take much convincing
I'm not really sure how many retirees are here, haven't really checked the statistics.
It just seemed that on this forum quite a few have moved or are moving to the Crossville area, or East Tennessee.
I was curious about the different reasons why Tennessee.
I really don't think that there is necessarily an influx of people moving to the state. It seems to be a growing trend all over the United States.
People are moving to Montana, Idaho, Texas, the Carolinas, Tennessee, Kentucky... and other places.
I really think that a large part of the migration seems to be from baby boomers who are getting ready to retire, and have realized that the places they would have liked to move to, like Florida and Arizona, and yes, California, have become inaccessible with high taxes, and higher cost of housing.
My hubby grew up in Wyoming and I in rural Nothern Ca. Hubby wants to be someplace that there are 4 distinct seasons and we want someplace that our boys can have room to run and build there imagination catching frogs down by the creek instead of in front of the Playstation.( I refuse to deal with the snow in Wyoming). I want them to enjoy raising a few cows and chickens being able to run and play without the neighbors calling the cops. We have family in GA and family that will be retiring there in a few years and I am doing my best to get my in-laws to follow us to TN. We chose Eastern Tn so we could be out of Tornado Alley and close to the mountains and like others because it is affordable. I can't afford to buy an outhouse where I live in Ca but I hope to be able to afford a little slice of Heaven in Tn.
I think what many people here are totally forgetting is that the US has just gotten through the biggest housing bubble in it's history. The prices everywhere are totally out of whack with economics. It is only natural that people are shell shocked and having a knee-jerk reaction from more expensive states to buy up land like crazy in cheaper ones. But the bottom line is that the housing bubble has now burst from an unnaturally freakish level. Heck- Florida is already having some areas with 100k cuts on the prices.
In my opinion, anyone buying right now will more than likely be paying more than the land will be worth in a few years, even if the land is seemingly cheap. Just keep an eye on the prices and buy when you really need to, not because you think it will go up. Remember- TN is not FL or CA. Don't expect a massive rush from buyers like happened in FL. The speculative element is now gone.
Sorry to sound nasty. Just trying to throw in a word off caution.
Interesting observation. Here's another one: Our friends in Fairfield Glade have seen a steady increase in property values up to the present time. Apparently that "bubble" isn't affecting the area. Probably because the insanity that was the bubble didn't occur there. Only the crazies on the coasts seemed to get really caught up in it. As you say TN is not FL or CA.
"we're in no hurry to move but are purchasing land now before the prices skyrocket. "
Please don't let this be the reason you buy land now. If you read the results of monthly housing reports, you'll see that TN right along with most other states are actually having a decline in sales. In fact, TN is 11th in the country for having the most foreclosures. That should say something right there. In fact, did you know that in Memphis, there were 19,738 homes sold in 2006, and there were 18,155 residential foreclosures last year? That is A LOT.
I think what many people here are totally forgetting is that the US has just gotten through the biggest housing bubble in it's history. The prices everywhere are totally out of whack with economics. It is only natural that people are shell shocked and having a knee-jerk reaction from more expensive states to buy up land like crazy in cheaper ones. But the bottom line is that the housing bubble has now burst from an unnaturally freakish level. Heck- Florida is already having some areas with 100k cuts on the prices.
In my opinion, anyone buying right now will more than likely be paying more than the land will be worth in a few years, even if the land is seemingly cheap. Just keep an eye on the prices and buy when you really need to, not because you think it will go up. Remember- TN is not FL or CA. Don't expect a massive rush from buyers like happened in FL. The speculative element is now gone.
Sorry to sound nasty. Just trying to throw in a word off caution.
For starteres, PLEASE do not think the rest of Tennessee is like Memphis. If it weren't for the garbage that goes on in Memphis, the rest of Tennessee's statistics would be much different (and that goes for things other than housing statistics). There are places in Tennessee where the housing bubble hasn't burst because there was never a bubble to begin with.
But you're right, if someone thinks they can swoop into town and buy some property now and sell it in a few years at a profit, that's highly debatable.
However, if someone wants to buy property in Tennessee as a long-term investment, then now is definitely the time to buy. And actually with all those foreclosures you're talking about, that's even more lucrative for people who want to invest in some inexpensive real estate.
My reason is a bit different for moving to TN. I moved before there was state Forums. I did not have as in depth search capabilities.
I moved here because I could not stand FL and did not want to raise my children there. Also the school my son was in for kindergarten was AWFUL and it was supposed to be one of the best in South East FL. I wanted my boys to have a great education and woods and snow to play in like I did growing up. My now ex was a native Floridian and both of our families were there. We did want to move TOO far away. The job industry he was in was specialized and there weren't a whole bunch of options. We left it up to where he could get work. We sent resumes to two firms in TN, one in VA and two in NC because of the good school districts close to those businesses as well. The one in TN hired him first. Now that I am here and long since divorced from him, I would NEVER think of moving. My boys and I fell in love with TN. The schools are great, we love the mountains and the people and the seasons. The great economics of the state was just a bonus for us.
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...I spect my skin will fluff up like a marshmellow LOL
Remembered Childhood
Why I moved to TN
