Knoxville Tennessee Real Estate Blog

The past week looks a bit worse than the week before with the volume of transfers down to 78 from the previous weeks 138.

only 78 Knox County Real estate transfers recorded for the week of May 10th

This market has created the proverbial “Perfect Storm” for home buyers. Lots of home for sale (Today there are 5,124 active single family and condominium homes for sale just in Knox County) and 78 recorded transactions last week so it’s very clearly a strong buyer’s market.

Financing remains in the sub 5% range for most price ranges with some great 100% financing available for buyers able to use the Tennessee Housing Development Authority (THDA) program.

Those smart folks at THDA have a new program that actually lends you up to the 3..5% of your down payment (which coincidentally happens to be the minimum down for FHA financing) at 0% for up to a year and you can repay them when you file your taxes and collect that $8,000 tax credit the federal government is offering for qualified buyers that have not owned a home in the past 3 years.  Regular conventional buyers also can qualify for the 8K tax credit as well.

All you need is a minimum 620 credit score and a debt to income ratio below 45%; call me if you’re interested and I’ll explain how it works; easy for most people to qualify.

Here’s a few listings you can buy right now that fit into this program’s guidelines.

This charming Cape Cod styled home is priced at only $129,900. Ask about $0 down financing and a principal and interest payment under $600 a month!

This excellent basement rancher is priced at only $149,900 with 3 bedrooms, 2 baths, and a two car garage.

This charming older home was listed for $84,900 and not surprisingly just sold.

Visit www.KnoxvilleHomeCenter.com to see over 5,000 Knox County homes for sale as well as other nearby areas such as Maryville, Oak Ridge, Loudon County, and many others.