May Home Sales Continue Rise For 5th Straight Month

Wednesday, June 20, 2012

The local real estate market continued to improve throughout the month of May, the fifth straight month of increases in 2012, according to data being released by the Multiple Listing Service (MLS) of the Greater Chattanooga Association of Realtors (GCAR).

Statistics for May indicated that the Southeast Tennessee and the Northwest Georgia area saw the sale of 608 residential units, a 22.8% rise from the previous years sales and an 11% jump from the previous month.

Mark Hite, GCAR president said, “Combined with reliable sales volumes, fewer active listings have translated into competing bids on existing inventory and modest price gains in select neighborhoods. Informed sellers have noticed some homes selling quicker and for closer to asking price.”

Home prices also continued their increase. The Median Sales Price increased 9.9% to $137,000. The average days on market dropped 6.7% from last year’s number to 126 days. Absorption rates improved as Months Supply of Inventory was down 25.4% to 10 months.

“With home sales and prices increasing, coupled with days on market and supply decreasing, the Greater Chattanooga area continues to buck the national trends as we look to carry that momentum into our sixth straight month,” Mr. Hite said.


Greater Chattanooga Association Of Realtors Has New Website Launch

The Greater Chattanooga Association of Realtors has launched "a consumer-facing residential property search website with tools designed to help local Realtors in Southeast Tennessee and Northwest Georgia compete with national portals." GCAR’s “Spring” platform features responsive design compatible with mobile devices and a common interface for real estate professionals and consumers, ... (click for more)

Real Estate Transfers For May 9-15

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at  423-266-2325 . GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) ... (click for more)

Lee, 5 Juveniles Charged In Multiple Robberies

Police have arrested an 18-year-old, four 17-year-olds and a 16-year-old in connection with several back-to-back robberies. At approximately 1:40 p.m. on Thursday, four suspects were interrupted by the homeowner during a burglary at 1069 Hurricane Creek Dr. The suspects then carjacked the victim’s 2001 Chevy truck. At 11 p.m., the suspects utilized the stolen Chevy and went ... (click for more)

Head Of BB&T's Chattanooga Commercial Banking Operations To Plead Guilty To Making Fraudulent Loans

The head of BB&T's Chattanooga commercial banking operations has been charged by federal authorities with making fraudulent loans. Tracy Brown is set to plead guilty to bank fraud on June 4. Authorities said Brown "appropriated the identities of three customers and took out fraudulent loans in their names. In October 2012, a customer of BB&T, D.M., went to the Ooltewah ... (click for more)

Immigration Reform

We do not have to pander to those in our country who were not invited and made their way here on their own. They are here against our laws that are already on the books which are not enforced.  They do not have negotiation rights to dictate to the United States government nor does our government have the right to pick and choose which laws are to be enforced or ignored so ... (click for more)

Roy Exum: Hypocrisy And Horses

I am still wincing over the fact a horrendous bill passed in the state legislature that would make whistle-blowers into criminals would have actually gone into law had it not been for Governor Bill Haslam’s eleventh-hour veto. Called the “Ag-Gag bill,” similar efforts in other states have also soured because it is no more than a Catch-22 trick to protect those who abuse animals, ... (click for more)