It seems the buyer’s market in the Knoxville, Tennessee market is intensifying; I’ve seen several of my buyer clients this year not only save thousands of dollars off the list price but in two occasions the sellers had to bring money to closing in order to sell.

One was a short sale where the sellers were clearly overextended and their lender took a $6,000 loss to keep from foreclosing. Another was a situation where the sellers had borrowed more than their home’s current value via a home equity loan.

It’s also seems to me there is a collective cloud hanging over Knoxville sellers during this first month of the new year. Thousands of Knoxville homes for sale and not that many buyers looking to pay a premium for any of them. You can search all Knoxville Realtor listings here with no registrations and no hassles.

According to the Knoxville Area Association of Realtors statistics there were 9,519 single family homes and condos for sale as of December 31, 2006 and only 1,049 sales during that time period so only roughly 1 out of 9 homes sold in December.

Historically the winter months are a slow sales time in Knoxville like many parts of Tennesse and the country but this year seems slower than normal.

If there’s a bright side to this for Knoxville real estate it’s that buyers can get some great home values during this time period and there’s even a benefit to sellers; they can get their homes sold if they need to.

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