Chattanooga Real Estate Blog

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Archive for November, 2007

October Foreclosure Rates

Posted in General Real Estate Info by Karen Rhodes on November 29th, 2007

RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its October 2007 U.S. Foreclosure Market Report, which shows a total of 224,451 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported during the month, up 2 percent from the previous month and up 94 percent from October 2006. The national foreclosure rate for the month was one foreclosure filing for every 555 households.

Tennessee is still running in the 11th highest rate in the nation with 1 in every 580 households entering some state of the foreclosure process.  This figure represents an increase over last month of 12.79% and 23.92% over last October.

10.  Illinois
9.  Indiana
8.  Arizona
7.  Colorado
6.  Michigan
5.  Georgia
4.  Ohio
3.  Florida
2.  California

And the winner is
1.  Nevada



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Happy Thanksgiving

Posted in Just for Fun by Karen Rhodes on November 22nd, 2007


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A Comedy About Real Estate

Posted in Just for Fun by Karen Rhodes on November 11th, 2007

Closing EscrowJust ran across this movie on Amazon.  I have to have it!!

The trailer is a hoot and I need a good laugh!!



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Chattanooga MLS Stats October 2007

Posted in Chattanooga MLS Stats by Karen Rhodes on November 10th, 2007

Sales and Inventory History

Category – Residential

Month

Year

Monthly Sales

Avg DOM

Curr Inventory

Months Inventory

January

2006

455

106.0

4275

9.40

February

2006

594

111.0

4380

7.37

March

2006

743

110.0

4468

6.01

April

2006

708

108.0

4692

6.63

May

2006

793

98.0

4813

6.07

June

2006

864

100.0

5015

5.80

July

2006

774

107.0

5131

6.63

August

2006

788

103.0

5338

6.77

September

2006

604

105.0

5501

9.11

October

2006

683

114.0

5579

8.17

November

2006

601

109.0

5623

9.36

December

2006

569

116.0

5536

9.73
           

January

2007

469

120.0

5183

11.05

February

2007

552

116.0

5441

9.86

March

2007

730

115.0

5567

7.63

April

2007

655

113.0

5763

8.80

May

2007

774

117.0

5852

7.56

June

2007

719

105.0

5973

8.31

July

2007

654

106.0

6211

9.50

August

2007

713

115.0

6321

8.87

September

2007

528

102.0

6374

12.07

October

2007

538

106.0

6239

11.60
           

 

The "Current Inventory" column reflects the number of active listings on the market
on the 1st day of each Month.The "Months of Inventory" column is equal to
the "Current Inventory" divided by the "Monthly Sales". This reflects how many months
it would take to sell out of inventory at the current months rate of sale.


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Today’s Mortgage Rates

Posted in Mortgage Info by Karen Rhodes on November 9th, 2007

Interest rates compliments of:

Owens Financial Group
Melanie Huddleston

1007 Ashland Terrace
Suite 104B
Chattanooga, TN 37415
423-648-7630

  Conventional Fixed Rate

30 yr  =  6%

20 yr = 6%

15 yr  =  5.625%

40 yr = 6.375%

FHA and VA

30 yr  =  6%

Rates subject to change



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