Photo blogging on the trail in the Great Smoky Mountains

Posted by Jim Lee, REALTOR® @ 8:55 am, April 28th, 2008

Alright, spring fever finally got the best of me this past Friday. Two of my hiking buddies and I took the day off and went to the woods; no cell phones, no computers, and very, very few other people.

It was a great day for a hike. We drove over to the Cataloochee Valley on the North Carolina side of the Park and hiked the 7.5 mile long Boogerman Trail named for a former local Valley resident whose real name was Robert Palmer. There are several stories about how Mr. Palmer got the nickname “Booger” but the most commonly accepted one came from his early school days.

The teacher was going around the 3rd grade class asking each pupil what they wanted to be when they great up and Robert said that he wanted to be “the Boogerman” and the nickname stuck.

me (running), Don & Bill at the start of our hike

this is the kind of photo you get when you only set your camera timer for 2 seconds instead of the 10 you intended. ;-) Oops!

Trying again with a 10 second window to get into the photo, this one turned out a little better.

A scenic overlook in the Cataloochee Valley

Don Anderson, Jim Lee, & Bill Furlong ready to enjoy a day in the back country.

We could not have bought better weather. It was in the mid 60s, big fluffy clouds overhead, and a light breeze; perfect spring hiking weather in east Tennessee.

The Boogerman Trail is home to some spectacular old growth Poplar forests. We got on the trail about 10:00 AM and took a lunch break at noon by the base of a huge Poplar tree that turned out to be hollow. It was large enough for the 3 of us to fit comfortably inside with room for 2 or 3 more!

3 hikers in a tree

Me, Don, & Bill inside a HUGE hollow tree.

There were lots of wildflowers in bloom with Painted Trillium being the most abundant. There were lots of them along most of the length of the trail.

Painted Trillium in bloom along the Boogerman Trail

The delicate white blossoms of the Painted Trillium are a beautiful springtime sight in the Smoky Mountains.

there are around 20 stream crossings on this trail with the widest ones bridged by footlogs; Here’s Don Anderson making his way across one over Caldwell Fork.

don anderson crossing on a footlog

Don’t slip Don, that water is very cold this time of year.


Below is a scenic view of Caldwell Fork as we neared the end of the trail.

Caldwell Fork in the Great Smoky Mountains National Park

Tired but refreshed from our day in the woods we came back to Knoxville and the world of real estate, computers, and cell phones. Too bad you can’t still make a living in spots like this one.

www.KnoxvilleHomeCenter.com is a great place to look for a new home in the Knoxville area.

One of the many great things about Knoxville is that you can be at many spots like the one pictured above in less than an hour.

Knoxville’s red light cameras, those “silent sentinels” everyone loves to hate.

Posted by Jim Lee, REALTOR® @ 7:19 pm, April 14th, 2008

In fact Knoxville’s still fairly new, red light cameras are still causing so much controversy one frustrated motorist took a hunting rifle to one that had just photgraphed him and fired three shots into it.

His claim of self defense (he claimed the camera shot first) probably won’t hold much water in a Knoxville court; he is charged with reckless endangerment and felony vandalism.

Meanwhile, just down the road in Chattanooga, 176 lucky drivers are getting their red light camera fines refunded because one irate and apparently very observant, victim………er, wrongdoer, discovered the yellow light cycle was not timed correctly causing the caution light to only stay yellow 3 seconds instead of the 3.9 seconds mandated by safety standards.

Chattanooga’s city traffic engineer claims it was an “accidental mixup” related to turn arrow timing.

If any of these stories are true it might cause you to wonder how “accidentally’ that mixup really was.

Hmmmm, first time I have a few spare minutes I’m going to take my stop watch out and investigate a couple of traffic lights near my west Knoxville neighborhood and see if any “accidents” have befallen those yellow lights.

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Buying a Knoxville TN home? Your appraiser is not a home inspector.

Posted by Jim Lee, REALTOR® @ 9:35 am, March 4th, 2008

One commonly confused area of Knoxville & Farragut home purchases is the difference between an appraiser and a home inspector.

Each one has a very important job to do in the home buying (and selling) process but those jobs are distinctive and separate.

An appraiser is sent to the property by the lender to ensure that the purchase price is realistic and not out of line with recent sale prices of comparable homes. Lenders want to reach some sort of “comfort level” that if they have to foreclose on a property they can get most, if not all of their investment back.

A home inspector is typically hired by a home buyer to ensure the integrity of the structure and the mechanical systems. A home inspector will look for things like roof leaks from the attic, check electrical panels to make sure all is well there, check HVAC systems to make sure it’s in proper working order, and a long list of other things.

So if you’re buying a Knoxville area home you’ll need the services of both an appraiser and a home inspector to make sure you’re not only getting the home at the right price but to ensure the structural integrity and all the mechanical systems are in proper working order.

If you haven’t hired a Knoxville area Realtor to represent you in your new home purchase please consider this my application for the job.

In addition to 30 years of successful experience helping hundreds of families buy new Knoxville homes ,I have earned the Accredited Buyer Representative (ABR) designation to represent those buyers more effectively.

You can hear recorded testimonials from former clients on my website, KnoxvilleMLS.com and search all of the Knoxville area’s Realtor listings.

Greater Knoxville Tennessee 2007 Sale Report

Posted by Jim Lee, REALTOR® @ 11:18 pm, January 19th, 2008

The long awaited 2007 sales figures are now online for the greater Knoxville, Tennessee area.

Compiled by the Knoxville Area Association of REALTORS®, these figures present the 2007 sales activity.

It seems the greater Knoxville area continues to escape most of the real estate malaise affecting several parts of the United States. Knoxville’s sales volume posted a modest 10.8% decline, dropping from 17,401 homes sold in 2006 to ‘only’ 15,508 sold in 2007.

The Knoxville area average sales price did increase again from $166,100 in 2006 for a 3 bedroom Knoxville area home to $173,700 in 2007, a 4.4% rise.

Days on market DOM (time to sell) rose slightly from 83 days in 2006 to 92 days in 2007. However the DOM was 84 back in days in 2004 so I don’t see the 9 day increase as statistically significant.
Visit my Knoxville real estate website to find a new home for your and your family in 2008. From cottages to castles, Knoxville, Tennessee continues to be a great place to live, work, play, and buy or sell real estate.

knoxville tennessee homes for sale call knoxville realtor jim lee today to find the best home for you and your family.

Cute Cape Cod home in Knoxville, Tennessee

knoxville tn real estate, homes, condos, land for sale

Beautiful home located in Farragut, Tennessee, a prominent Knoxville suburb.

“Rock harvesting” moves closer to the greater Knoxville, Tennessee area.

Posted by Jim Lee, REALTOR® @ 3:27 pm, January 17th, 2008

The first question you may ask youself is just what the heck is “rock harvesting” anyway?

Rock harvesting is the practice of removing native stone, in this instance Tennessee mountain stone, to feed the ever growing demand for the attractive stone’s use in buildings, walls, walkways, and landscaping.

No problem so far……but, the issue begins when rock harvesters began harvesting stone from public lands like the Justin P. Wilson Cumberland Trail State Park which is located about 50 miles north of Knoxville and along the Cumberland Trail itself.

The Cumberland Trail is the centerpiece of a state linear park with the 300 mile long Trail running from Signal Mountain near Chattanooga north to Cumberland Gap National Historic Park. Cumberland Gap was the first gateway to the western lands during Indian and pioneer days.

cumberland trail from Chattanooga, through Knoxville, to Cumberland Gap Kentucky

Imagine hiking through this pristine wilderness and rounding a bend to come across the photo below! In some instances the rock harvesters are working above the trail and huge boulders and debris falls downhill across the trail.

cumberland trail rock harvesting

Rock harvesting with heavy equipment along the enviromentally sensitive Cumberland Trail. 

Not surprisingly rock harvesting, like strip mining, is not enviromentally friendly since the rocks are mostly below ground level. Heavy equipment is used to dig them up and remove them leaving huge scars on the landscape.

To further exacerbate this pillaging of the land it seems the State of Tennessee neglected to buy the mineral rights when it acquired a lot state park lands and some of the lands along the long planned Cumberland Trail. Tennessee is in litigation to determine if mountain is actually a mineral and covered under the state’s mineral rights laws.

Whatever the outcome this practice is bringing horrible results to formerly pristine mountain lands, state parks, and the Cumberland Trail.

devil's racetrack north of Knoxville tn

The Devil’s Racetrack natural stone formation. This is visible from Interstate 75 north of Caryville, Tennessee and a part of the Cumberland Trail system.

watch for falling rocks along the cumberlant trail

If this is as big a concern to you as it is to me I urge you to join with us to put a stop to this practive before scenic beauty like the natural stone formations above are destroyed forever and lost to future generations.

Tax relief for troubled Knoxville, Tennessee homeowners

Posted by Jim Lee, REALTOR® @ 4:26 pm, January 12th, 2008

If you have a home in the greater Knoxville or Farragut Tennessee area and you’re struggling with your mortgage the Internal Revenue Service (IRS) has launched a special section on their website to help with how foreclosures could affect your tax status.

In some circumstances you could still have very serious tax consequences even if you’ve gone through a mortgage ‘workout’ or a foreclosure.

Known by some wags as the “kick em while they’re down” law, the IRS has penalized some taxpayers in the past by declaring the amount of any forgiven mortgage loans as ‘income’ and charging the hapless taxpayers income taxes in money they’re never actually received.

I’m proud to say the National Association of REALTORS (NAR) is in full support of pending legislation to do away with this grossly unfair portion of IRS code.

H.R. 1876: Mortgage Cancellation Relief Act of 2007 would eliminate this unfair practice along with its companion Senate bill 1394, both of which have been introduced into Congress. “Introduced” is the first step in having a bill become the law of the land.

Visit my Knoxville area real estate website for buying and selling tips and guidance.

Price your Knoxville Tennessee area home right and it will sell.

Posted by Jim Lee, REALTOR® @ 4:12 pm, December 26th, 2007

No, I’m not talking about ‘giveaway’ pricing, but right pricing.

In today’s market my experience with working with lots of buyers is that they look at far more homes than they used to before making a decision.

After looking at several homes and doing lots of research and online searching they become very adapt at recognizing an overpriced listing as well as one priced correctly.

This month I sold a home to some buyers that had put an offer on another home in the same neighborhood but at a price considerably below the list price. The sellers countered back at a figure very close to their original asking price.

The home they did not buy has now been on the market for almost a year and in both my buyers opinion and mine, is about $25,000 overpriced for the current market. Additionally this home is sadly in need of updating to hope to command anywhere near the asking price.

Here’s a photo of the kitchens in both homes.

knoxville tn homes for sale

$25,000 overpriced, dark, drab interior in need of updating.

knoxville tn homes for sale

Priced to sell, “move in” condition, with light & bright interior and decor. Which one would you choose?

The home they bought is same style, a similiar square footage but was priced at current market value, in ‘move in’ condition, AND was about $20,000 lower than the first home we made an offer on. The home they chose and bought was on the market 2 days when we reached an agreement with the sellers for only 2.5% less than asking. The buyers felt good about making an offer that close to the list price because they felt good about that price and saw the value.

Here are some of the pitfalls of overpricing:

  • Buyers know what houses should sell for generally. If yours is overpriced they will likely pass it by for something more competitively priced.
  • Buyers will look and leave because they’re expecting more in your home than the price dictates.
  • You’ll attract fewer offers and offers will come in below your asking price but those offers will be closer to fair market value.
  • Buyers will use your home as an example to help them buy other homes that are priced closer to the market.
  • And even if you do find a willing buyer at your price you then have to pass the mortgage appraisal hurdle. Appraisers know values very, very well (that’s what they’re paid for) and if you can’t get an appraisal at your asking/selling price then no lender is going to grant a mortgage to your buyer and you can’t sell.

Visit KnoxvilleMLS.com to see some right priced homes; call me to help you pick one out.

Best wishes to all for a Happy New Year! 

Latest news on Knoxville real estate and interest rates

Posted by Jim Lee, REALTOR® @ 2:26 am, December 14th, 2007

Here are some economic events happening this week that have a huge impact on what your house payment will end up being.

Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and raise loan rates. 
 

Economic Calendar for the Week of Dec 10 – Dec 14

 Date Time (ET) Release For Consensus Prior Impact
M
Dec 10		 10:00 Pending Home Sales Oct
0.2%
 HIGH
Tu
Dec 11		 10:00 Wholesale Inventories Oct 0.5% 0.8% Low
Tu
Dec 11		 14:15 FOMC Policy Statement


HIGH
W 
Dec 12		 08:30 Trade Balance Oct –57.0B –56.5B Moderate
Th
Dec 13		 08:30 Retail Sales Nov 0.5% 0.2% HIGH
Th
Dec 13		 08:30 Retail Sales ex-auto Nov 0.6% 0.2% HIGH
Th
Dec 13		 08:30 Producer Price Index (PPI) Nov 1.5% 0.1% Moderate
Th
Dec 13		 08:30 Core PPI Nov 0.2% 0.0% Moderate
Th
Dec 13		 08:30 Initial Jobless Claims 12/08 NA 338K Moderate
Th
Dec 13		 10:00 Business Inventories Oct 0.3% 0.4% Moderate
F 
Dec 14		 08:30 Consumer Price Index (CPI) Nov 0.6% 0.3% HIGH
F 
Dec 14		 08:30 Core CPI Nov 0.2% 0.2% HIGH
F 
Dec 14		 09:15 Industrial Production Nov 0.1% –0.5% Moderate
F 
Dec 14		 09:15 Capacity Utilization Nov 81.7% 81.7% Moderate

For the latest interest rates and what the Knoxville housing market is doing give me a call or email.

Office Direct # 865-539-3162

email: Jim@KnoxvilleMLS.com

website: www.KnoxvilleMLS.com

Some Knoxville area homeowners with ARMs get a break.

Posted by Jim Lee, REALTOR® @ 5:56 pm, December 5th, 2007

Sources say the Bush Administration will announce Thursday that certain homeowners that have subprime mortgages with adjustable interest rates will benefit from a five year moratorium on future schedule interest rate hikes.

knoxville tn homes for sale

Some Knoxville TN homeowners with sub-prime ARMs will benefit from a rate freeze for the next 5 years in a deal to be announced this coming Thursday.

Under the agreement certain mortages originated between the start of 2005 through July 30 of this year with rates that are scheduled to rise between Jan. 1, 2008, and July 31, 2010 will have their rates frozen at current levels for the next five years.

This plan is reported to only be available to owner-occupied Knoxville area homes; not investment properties.

Through October of 2007, there were about 1.8 million foreclosure filings nationwide, compared with about 1.3 million in all of 2006, according to Irvine, Calif-based RealtyTrac Inc. With home loan defaults still rising, the trend is expected to worsen next year.

According to RealtyTrac Knoxville/Knox County foreclosures are trending down instead of up like some states. The top 5 states for foreclosures are California, Georgia, Florida, Michigan, and Texas.

I’m wondering if this mortgage freeze scheme will actually happen because a mortgage note is a contractural obligation and a very high percentage of these loans are sold to investors who are counting on getting the higher payments.

For the most current Knoxville, Tennessee area real estate information visit www.KnoxvilleMLS.com

Your best Knoxville Tennessee real estate resource center

Posted by Jim Lee, REALTOR® @ 11:12 am, November 29th, 2007

Over the past 12 years I’ve spent lots of time and money refining my website www.KnoxvilleMLS.com to be the best available Knoxville area real estate resource center.

I’ve found through trial and error that most all prospective home buyers first want to be able to search all the homes in the area they’re interested in living in.

KnoxvilleMLS.com’s search page delivers all the Knoxville area’s Realtors residential listings of homes, condos, land, multi-family homes listings.

Next there are links for buyers, sellers, mortgages, Knoxville area schools, employment, things to do in the Knoxville area, and several other links to items of interest for both prospective homebuyers and homesellers.

In short, KnoxvilleMLS.com was developed, and is constantly being refined to be the best, one stop real estate resource for the greater Knoxville, Tennessee area.

Visit KnoxvilleMLS.com today to pick out your next home and then contact me to help you buy it.

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