Dena Helms, Real Estate Broker

This is your official Invitation to join the fun at

Morristown Rotary Club’s

9oth Birthday Celebration

Morristown Rotary is 90 Years Old and we think that’s a reason to Celebrate. Please join us at The Country Club in Morristown on January 31^st for Dinner, Socializing, Music, Dancing and Birthday Cake.

Dixieland Music will be performed by the Al Curtis Orchestra and there will be Party Favors and a Festive Atmosphere.

January 31^st 6:00 PM The Country Club $29 per person

RSVP to the Noon Rotary Club

Dena Helms at 423-312-1247 or denahelms@gmail.com

www.morristownrotarynow.com

In the month of December, there were 153 New Residential Single Family Home listings submitted to the Lakeway Area Association of Realtors. That's less new homes on the market as in November. The total number of Hamblen County Homes for sale on the market in November was nearly 850, but in December that number dropped to 682 total.

Of those 682 homes on the market, 90 Sold in the month of December. That's 13.2% Absorption rate for homes on the market. This is up from the last three months where only 10% of homes on the market were sold. Still, that's only 13 of every 100 homes are selling leaving 87 of every 100 still on the market. At this rate, if no more homes were placed on the market, Hamblen County would have enough homes available for buyers for the next 7.5 months.

Some price ranges are fairing better than others.

In November, houses between 100K and 120K were fairing well at 20% absorption rate. In December, 11 homes sold between 100K and 120K with only 54 on the market holding the absorption rate to 20% for this price range.

Continued Improvements were seen in the range between 200K and 250K with 44 on the market, 7 sold. Even though that's only 15% per month, that's nearly twice as many as last month when only 4 sold.

Between 300 and 350K with 16 on the market, only 1 sold. That's an absorption rate of 6.25 for this range (last month was 7%).

Overall, there is not a really significant change in the percentage of homes sold in any range, but the number of homes on the market has dropped as well as the number of buyers.

With numbers like these, it's clear that it is still a good time to buy, and still a challenging time to sell in Hamblen County.

The data used to compile these figures was gathered from the listing and sales data provided to Realtors and Members of the Lakeway Area Association of Realtors in Morristown Tennessee.

In the month of November, there were 216 New Residential Single Family Home listings submitted to the Lakeway Area Association of Realtors. That's less new homes on the market as in September. The total number of Hamblen County Homes for sale on the market in October was nearly 880 (Almost twice the number in September), but in November that number dropped to 843 total.

Of those 843 homes on the market, 106 Sold in the month of November. That's 12.5% Absorption rate for homes on the market. This is up from the last two months where only 10% of homes on the market were sold. Still, that's only 12 of every 100 homes are selling leaving 88 of every 100 still on the market. At this rate, if no more homes were placed on the market, Hamblen County would have enough homes available for buyers for the next 8 months.

Some price ranges are fairing better than others.

In September, houses between 100K and 120K were fairing better at 30% absorption rate, but that dropped to 10% in October due to an increase in listings in that range. The number of buyers dropped from 9 to 8 and the number of available homes rose from 30 to 80. In November, 17 homes sold between 100K and 120K with only 83 on the market doubling the absorption rate to 20% for this price range.

Improvements were seen in the range between 200K and 250K with 62 already on the market and 15 new listings, 8 sold. Even though that's only 1 in 10 per month, that's twice as many as last month when only 4 sold.

Between 300 and 350K with 28 on the market, only 2 sold. That's an absorption rate of 7% for this range (up from 3% last month).

With numbers like these, it's clear that it is still a good time to buy, and still a challenging time to sell in Hamblen County.

The data used to compile these figures was gathered from the listing and sales data provided to Realtors and Members of the Lakeway Area Association of Realtors in Morristown Tennessee.

This week within The Lakeway Area Multiple Listing Service, 78 New Listings were submitted. The breakdown by type is 40 Residential Homes, 35 Parcels of Land, 3 Commercial Properties, and no Multifamily Units.

40 Residential Homes

Asking Price Range: $10,000 to $410,000

35 Parcels of Land

Asking Price Range: $29,500 to $370,000

3 Commercial Properties

Asking Price Range: $300,000 to $755,000

The timeframe of this report is from October 26th through October 31st, 2010 and reflects only new listings reported by the Lakeway Area Association of Realtors. This report is Brought to you by Dena Helms, Real Estate Broker, Re/Max Real Estate Ten, Inc. 525 West Morris Blvd, Morristown TN 37813.

423-581-8881 423-312-1247 www.openhousewithdena.com

This Week within The Lakeway Area Multiple Listing Service, 70 New Listings were submitted. The breakdown by type is 70 Residential Homes, 39 Parcels of Land, 2 Commercial Properties, and 2 Multifamily Units.

70 Residential Homes

Asking Price Range: $14,800 to $699,000

39 Parcels of Land

Asking Price Range: $5,200 to $430,000

2 Commercial Properties

Asking Price Range: $79,900 to $199,000

2 Multifamily Properties

Asking Price Range: $72,900 to $149,900

The timeframe of this report is from October 19th through October 25th, 2010 and reflects only new listings reported by the Lakeway Area Association of Realtors. This report is Brought to you by Dena Helms, Real Estate Broker, Re/Max Real Estate Ten, Inc. 525 West Morris Blvd, Morristown TN 37813.

423-581-8881 423-312-1247 www.openhousewithdena.com