Knoxville Property Market and Real Estate Guide
(Knoxville, Tennessee - TN, USA)
A quintessential southern US city, Knoxville was founded in 1786. This is a popular place to buy property, especially for those who appreciate the local country-music culture and the Smoky Mountain scenery.
Property in Knoxville is some of the most expensive in Tennessee, but prices are low by national standards, especially when compared to similar homes and apartments in coastal areas. Property in the city center is priced relative to that of any major city in this part of the country. Heading into the rolling hills of the countryside, the same price affords a spacious house on a large tract of land.
While there was some fallout associated with the recent worldwide recession, prices have stabilized and a strong buyer's market has emerged. Qualified real estate agents can help buyers choose select property in neighborhoods, pointing out those expected to gain the most in the next few years.
Renting Serviced Apartments
Serviced apartments aren't as easy to find in Knoxville as in prominent resorts, but it is still possible to find units suitable for retirees (assisted living) and business travelers (corporate housing). In both cases, much depends on the needs of the guest and the length of stay, but substantial discounts are available regardless.
Serviced apartments are typically furnished (unlike many apartments) and more spacious than comparably priced hotels. They usually benefit from shared facilities, which may include anything from a swimming pool and fitness center, to conference facilities. Staying a few weeks or longer secures a better rate for most serviced apartments in Knoxville.
Buying Apartments and Houses
Competitively priced apartments and condominiums are for sale in Knoxville city center. Prices increase substantially for freestanding houses near the city center, but drop again farther out in the countryside. Many of Knoxville's residents live in outlying suburbs and commute to the city center for work. This is because of the attractive natural environment and relatively short commute.
Transfer taxes, notary fees and other closing costs usually weigh in at less than seven percent, but may increase if the property is purchased for holiday or investment purposes. Many of the additional costs are associated with securing a mortgage and can be eliminated by paying in cash. Working with a competent real estate agent familiar with the local market is preferable and advisable.
Real Estate Agents
Finding a real estate agent you can trust is paramount, and doing so ensures that you will end up in a house or apartment that meets your requirements and stands to hold or increase in value. Don't be afraid to seek the services of a specialist over those of a 'one size fits all' realtor.
Check out the following Knoxville realtors and real estate agents:
Realty Executives Associates
Address: 109 South Northshore Drive, Knoxville, Tennessee TN, 37919, USA
Tel: +1 865 235 1520
Email: contact form via website
This agency lists foreclosed properties, condominiums, and freestanding homes in the Greater Knoxville area.
Greater Knoxville Fine Homes
Address: 5721 Paula Road, Knoxville, Tennessee TN, 37912, USA
Tel: +1 865 963 2146
Operated by Heidi Hornwick, this agency makes use of advanced web applications to streamline the process of searching for homes and applying for a mortgage.
Sequoyah Hills Realty
Address: 1212 Kenesaw Avenue, Knoxville, Tennessee TN, 37919, USA
Tel: +1 865 546 2000
This agency focuses on residential property in Knoxville's Sequoyah Hills neighborhood, a well-manicured, upmarket community with excellent facilities.