About Knoxville's Fourth & Gill

Founded in 1786, Knoxville, Tennessee is a city rich in history and colorful citizens that contributed much to Knoxville the the surrounding areas. Many of Knoxville’s early citizens were buried in Old Gray Cemetery after their passing.

In what has became an annual even, the Lantern and Carriage Tour at Old Gray Cemetery offers fascinating vignettes into Knoxville’s past as reenactors portray famous and/or interesting Knoxvillians buried in Old Gray.

Old Gray Cemetery was dedicated in 1852 with the first burial on July 14, 1851. Old Gray is located about 12 blocks north of downtown Knoxville and is intended to be used as a park in addition to being a burial place.

My lovely wife Charlotte and I visited Old Gray yesterday for the 9th annual Lantern & Carriage Tour.

This terrific bugler below played "Taps" every 30 minutes or so.

First the federal government came up with the American Recovery and Reinvestment Tax Act of 2009 which provides for a tax credit of up to $8,000 or a maximum of 10% of the sale price of a home for buyer who have not owned a home in the past three years.

Sounds like a good deal but a lot of otherwise qualified buyers were still being left out because even though they were able to qualify creditwise they were cash poor and just didn't have enough available funds to take advantage of the tax credit.

Enter a new program from the Tennessee Housing Development Authority (THDA). Now you can actually borrow, via a second mortgage on your new home, up to 3.5% of the down payment amount which is not coincidentally the minimum down payment required for FHA financing.

Basically all you need is a minimum 620 credit score, debt to income ratio not more than 45%, and you have to attend a short class that educates you on how to become a responsible homeowner; pretty easy stuff for most.

The interest rate on your down payment loan is 0% until as long as June 1st of 2010 and at that time you can either repay it with your $8,000 tax credit or begin making payments on it at just 1% over your current first mortgage rate for 10 years.

So if you have a 5% first mortgage and borrow, let's say $3,500 for your 3.5% down payment you can pay it off at 6% interest at a monthly payment of $38.86 per month.

If that's something that you think might put you into a new home, give me a call at (865) 693-3232 or email me and let's sit down to talk about making you a homeowner.

See over 5,000 Knox County single family home and condos for sale at www.KnoxvilleHomeCenter.com

Here's just a couple of Knoxville area homes that you can buy today.

This charming 3 bedroom, 2 bath home is located in north Knoxville and priced at only $129,900!

Attractive basement rancher on large lot with woods in back and a lot for the money; $149,900

They're here........fixed mortgage interest rates below 5%!

If you're in the market for a new house or condo NOW would be a great time to get in the market and buy one.

Here's why that's such a big deal. In November the average sale price of a 3 bedroom home in Knoxville was $155,600.

This beautiful 2 story home is located in north Knoxville and priced at only $154,900. The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. All homes subject to prior sale.

At a 6% interest rate and an FHA loan with the minimum 3% down you would be financing $150,900 which would make your monthly principal and interest payment $904.72.

Yesterday in my office our mortgage affiliate was quoting a 4.5% 30 year fixed mortgage rate.

Going from 6 to 4.5% would drop your monthly payment $140.13 a month! That's HUGE and would also mean more people could qualify to buy at 4.5% than 6% (lower interest rates, lower payments, simple math 101)

This wonderful classic home in North Knoxville's Fourth & Gill Neighborhood is priced at only $142.399

You can search all Realtor listing in the greater Knoxville area including Farragut, Oak Ridge, Loudon County, and most other nearby areas at www.KnoxvilleHomeCenter.com

This all brick, one level home is priced at only $159,900 with 3 bedrooms, 2 baths, and it's only 3 years old.