Chattanooga Real Estate Blog

HAPPY THANKSGIVING

I have two beautiful homes still available.  One in Highland Park and one in N Chattanooga.  Both are in move in condition and have motivated sellers.  Take a look at the links below and if you or anyone you know is interested just let me know!

2001 Duncan Ave

213 Baket St

In Article 2 we will be discussing disclosure.  The article reads:

REALTORS^® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. REALTORS^® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real estate license, or to disclose facts which are confidential under the scope of agency or non-agency relationships as defined by state law. (Amended 1/00)

We must be truthful about properties and transactions.  Disclosure is a must if I am aware of any type of problem with the property.  However, I am not an expert in many fields and will not advise on anything outside the scope of my real estate license.  Meaning I will not give advise on electrical matters plumbing, roofing, etc.  I will however recommend you have a professional inspect anything that we have questions about.  And, of course, I will not disclose confidential information of my client.

Happy (yes, there actually is a Happy as in Happy Home) drove his car in both the East Ridge and Hixson parades this weekend.  It was way to cold for me but I was there in spirit!

RealtyTrac has release the 3rd quarter report on metro area foreclosure rates.  318,355 properties entered some stage of foreclosure nationwide during the third quarter of 2006, a 17 percent increase from the previous quarter and a 43 percent yearly increase from the third quarter of 2005.  The top ten are below as taken from the posted report:

Top 10 Metro Foreclosure Rates – Q3 2006

Detroit’s foreclosure rate of one new foreclosure filing for every 80 households was more than 4.5 times the national average. Ft. Lauderdale and Denver reported foreclosure rates that were more than four times the national average, with Miami just short of four times the average. Foreclosure rates in the remaining top 10 cities exceeded three times the average except for Memphis with a rate that was 2.5 times the national average.  RealtyTrac

In addition to Memphis, Nashville and Knoxville are both one of the top 100 metro areas in the US.  Nashville-Davidson ranked 64th with just under .75% above the national average.  Thats a reduction of 2.28% from 2nd quarter.  Knoxville came in at 75th place just over .5% higher than the national average but improving with over a 3% decrease from the 2nd quarter. 

Looking at individual state foreclosure rates is a little more revealing for our particular area.  While Tennessee had an increase in foreclosures of over .5% during the 2nd quarter, 3rd quarter 2006 looks much better than the same time frame last year showing a decrease of 7.54% from 3rd quarter 2005.

Two steps forward and one step back:)

Sellsius posted the answers today.  OK, I’ll admit it.  I missed one

Interest rates compliments of: