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Jim Lee, Knoxville Tennessee Realtor®

Knoxville, TN July real estate sales

The July sales figures are out from the Knoxville Area Association of Realtors so let’s see how the Knoxville area real estate market did last month.

I see a total of 1,044 sales reported in all price ranges, days on market (time to sell) 118 days, the median price of a 3 bedroom home holding pretty steady at $137,300, 4 bedrooms $267,000, and $144,500 for condos.


Knoxville, Tennessee July real estate sales in all price ranges

Even though July sales in 2005 were a bit higher than 2006, 2006 was really the BIG year in Knoxville area sales so comparing apples to apples, this July’s sales are down 40% over that year.

Here’s what the first half of this year looks like compared to previous years.

knoxville tennessee real estate sales for the first half of 2009

Knoxville area first half sales compared to other years

Compared to our peak year, 2006, total sales for the first half of 2009 are still down around 50%.

It’s still hard to draw any meaningful conclusions about a trend of any sort from the figures because historically, real estate sales have a very strong seasonal factor with the peak sales months being June, July, and August and the lower sales months being the winter months.

When the August sales figures come out next month I’ll do a comparison of the three peak months to previous years.

The big question on most people’s minds are “when is the market going to turn around and/or pick up again?” Best guess is probably not this year or maybe even 2010 but very likely in 2011 barring unforeseen circumstances.

For sellers my advice remains the same: Competitive pricing, put your house in the best possible condition, consider some buyer concessions such as paying closing costs, temporary rate buydowns, and be prepared to negotiate.

For buyers it’s a great market for you. Lowest interest I can ever remember, huge supply of homes on the market, and for those that have not owned a home in the past 3 years, up to an $8,000 tax credit from the government to help you even further in buying. However that tax credit runs out at the end of November which means you need to have a house under contract by at least the middle of October to make sure you get it.

www.KnoxvilleHomeCenter.com is a great place for both buyers and sellers to looks at homes for sale. Sellers can see what your competition looks like and buyers can search for their new home here.

Biking the Cade Cove loop road in the Great Smoky Mountains

One of the many great things about living in the Knoxville, Tennessee area is it's close proximity to the Great Smoky Mountains National Park.

There are many very scenic and beautiful sections of the park but one of my special favorites is Cades Cove. Going from Knoxville through Maryville and Townsend to the Cove is about a 40 mile drive but because of the narrow, windy roads in the park allow about an hour for the drive one way.

"The Cove" as it's known to local folks was originally a pioneer settlement first homesteaded by John and Luraney Oliver around 1818. The Olivers and their descendants lived in the Cove until the Park was established in 1934.

Cades Cove is a very special place to me for a personal reason as well. My lovely wife Charlotte and I were married here almost 20 years ago. We had a very simple ceremony back in the woods beside Elijah Oliver's cabin one frosty February morning. In attendance were our minister, one witness, and about 20 deer who dropped by to see what was going on.

A lot of the original buildings have been preserved by the national park service to illustrate how life was back in those days. One of the very enjoyable things you can do in the Cove is to ride your bike around the 11 mile loop road that circles this scenic valley.

cades cove great smoky mountains national park knoxville tennessee

This past Saturday I took my bike up to the Cove and set off about 8:00 am to ride the loop. I got a bit later start than usual and there were lots of other bikers either on the road already or getting ready to go. There are also usually quite a few walkers and some runners as well; no exception today.

It's a great ride with several pretty good pulls up hills that get your heart pumping. Since it's getting pretty close to fall I saw several bears up in Oak trees stuffing themselves with Acorns in preparation for going into hibernation soon.

small bear in tree cades cove great smoky mountains national park

This looked to be a pretty young bear. He was busy stuffing food into his mouth and oblivious to everyone below his tree watching and taking pictures.

The Cove also abounds with lots of deer and it's not unusual to see as many as 100 or more during your tour.

deer in cades cove near knoxville tennessee

This little spike buck just looked like he stopped and posed for my camera. Wildlife in Cades Cove are very used to visitors and it's usually easy to get some terrific photos of bear, deer, wild turkey, and other wildlife.

One cautionary note; these are wild animals and there are no bars between you and them like in the zoo. This is also their home; you are the visitor so please respect them, don't try to get too close, and above all else DO NOT try to feed them or touch them. It is against the law and the park rangers will cite you or arrest you on the spot if they see you. It also does harm to the animals by teaching them to go to humans for food instead of finding it on their own as nature intended.

Here's another shot of some Cades Cove deer having breakfast. This photo is from a previous visit.

more deer in cades cove great smoky mountains national park

If you're visiting, the Cades Store has a bike rental for you. $4.00 an hour for coaster bikes and $6.00 for geared models. I highly recommend the geared models for an extra two bucks unless your name is Lance Armstrong.

Riding the loop road takes anywhere from 2-4 hours depending on your fitness level and how much sightseeing you do along the way. I recommend taking your time and enjoying all the Cove has to offer.

If your time is short there are also two roads, Hyatt and Sparks Lanes, you can cut through the middle of the Cove and finish much quicker.

From early May until late September the Cove loop road is closed to vehicles on Wednesday and Saturdays until 10:00 am. I strongly suggest planning your ride during these times especially on Wednesdays if you can arrange your schedule.

Cades Cove is a very, very popular destination and the loop road is typically clogged with vehicles especially during the summer and a bear sighting brings all traffic to a halt.

We usually try to hit the road on Wednesdays just at first light. That's the time the most animals are out feeding and the crowds are almost nonexistent then.

Enjoy your ride, take along plenty of water, stop and enjoy the views often; I guarantee it's a ride you will remember for years to come.

Floor plans for your listings

I have long thought that providing floor plans for your listings was a good idea but only two things kept me from it.

1. I can't draw worth a darn, and

2. It was expensive to have someone else draw them for me.

First I tried drawing my own with a ruler, compass, pencil, and several erasers. Never did get the professional look I was after. Then I bought a program to draw them for me. Never could make it draw a straight line either.

Finally I stumbled across a firm called Diakrit; here's some information about them: "Founded in 2001, Diakrit has grown from a purely IT company into one of Northern Europe’s leaders of visualizations and 3D modeling.

In July 2008, Diakrit AB merged with Matrix AB, triggering enormous growth. Today, Diakrit boasts over 110 employees throughout Scandinavia, the United States, China and Thailand, and provides its services in visualization and 3D modeling to more than 1300 clients in the real estate and retail sectors worldwide, with more clients signing up daily.

With its experienced architects and a deep understanding of the global markets, Diakrit offers solutions to real estate agents, brokers, and international franchises, as well as real estate portals, facility management companies, and developers."

Wow, I had no idea they were such a big deal international firm.

But they did what I wanted, that is, produced a nice, clean looking floor plan for my resale listings at a very reasonable price. Starting at only $19.95 they can provide both 2D and 3D floor plans with a "floorplanner" option that lets your customer place and move furniture in the plan.

To get started all you have to do is draw a crude sketch (and that perfectly describes my drawings), fax or email it to them, and they produce a nifty looking, professionally drawn floor plan of your listing and post it on their website for you to download.

Here's how my first effort turned out.

Diakrit took this: 9709 paname drive knoxville tn for sale by jim lee knoxville tn realtor

and turned it into this:

floor plan of 9709 panama drive knoxville tn jim lee www.knoxvillehomecenter.com

In less then 48 hours and for around 25 bucks.

I'm sold; all of my future listings are getting floor plans to go with their virtual tours and MLS photos.

Even if buyers don't appreciate it just think what an awesome listing tool it could be. "Why yes Mr. & Mrs. Seller, if you list your home with me you not only get everything every other Realtor in town does you also get a custom yard sign, virtual tour, enhanced presence on Realtor.com and many other real estate websites, and a professionally drawn floor plan of your home for buyers to see."

Here's the 9709 Panama Drive virtual tour complete with floor plans.

90 seconds of home selling advice from a Knoxville Realtor

I was recently interviewed for a real estate website and asked to give some home selling advice in 90 seconds of less.

So for the really, really busy homeowner that’s thinking of selling or in the process of selling now, here are some things to consider that will help, including a piece of advice at the end you’ve probably never heard before.

You can find lots more home selling tips at www.KnoxvilleHomeCenter.com and get a free copy of my eBook “450 ideas to help your home sell faster!” by simply sending an email to: 450Ways@JimLee.com

No charge, no obligation, and you don’t get put on any mailing lists. I’ll only contact you if ask me to.

450 ideas to help your home sell faster jim lee knoxville tn realtor

Easy method to upload video to most anywhere.

My favorite virtual tour provider, VisualTour.com has a new feature that lets you create a YouTube video from your virtual tour and then uploads it to YouTube.

While I was putting some extra photos on a listing today I had a thought. I wondered if it would be possible to download the Visual Tour video from YourTube as an MPEG file and then upload that same file to Realtor.com and put a video on your listing along with the virtual tour and still photos.

I'm happy to report it worked like the proverbial charm and now my Realtor.com listings can be enhanced with video in addition to the other enhancements you can provide for your listings.

Here's the end result.