Chattanooga Home Sales Increase By 15.4 Percent In April

Wednesday, May 22, 2013

The S&P/Case-Shiller Home Price Index showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. Major national indices are telling the story that local MLS data users have known for months or even years. The housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.

Closed Sales in Chattanooga rose an astounding 15.4%, closing with 645 residential units. New Listings in the Chattanooga region were up 9.8 percent to 1,180. Inventory shrank 8.2 percent to 4,826 units. Prices moved higher as the Median Sales Price was up 3.8 percent to $135,000.

Days on Market decreased 8.0 percent to 126 days, the twelfth consecutive month of year-over-year declines. Months Supply of Inventory was down 18.3 percent to 8.5 months, indicating that demand increased relative to supply.

GCAR President Mark Blazek said, “The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.”

Real Estate Transfers For March 15-21

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 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)

Teresa Groves Earns Seniors Real Estate Specialist Designation

Teresa Groves, an affiliate broker with Real Estate Partners Chattanooga LLC, has earned the nationally recognized Seniors Real Estate Specialist designation from the Seniors Real Estate Specialist Council of the National Association of Realtors. Officials said, "Working with seniors to meet their housing needs requires an expert understanding of their lifestyle and financial ... (click for more)

Sheriff Hammond Says $4 Million Needed To Put SROs In All Hamilton County Schools

Sheriff Jim Hammond on Thursday night told members of the County School Board that $4 million is needed to provide School Resource Officers for all of the 79 schools. He said currently there are 31 SROs in 29 schools, leaving 50 uncovered. School Board member Rhonda Thurman said she believes the community could come together to provide the necessary funding. "It's something ... (click for more)

Judge Philyaw Denies He Did Not Reappoint Magistrate Because She Was Gay

Juvenile Court Judge Rob Philyaw told a federal jury on Thursday that the fact Elizabeth Gentzler is openly gay had no part in his decision not to reappoint her as a magistrate. "Absolutely not. I have a lot of gay friends, family and acquaintances," he said. However, a court officer at Juvenile Court sided with Ms. Gentzler. Jimmie Cannon said, "Ninety-nine percent ... (click for more)

Avoid Underage Drinking And Other Prom Drama

My high school prom took a dramatic turn when two guys got their tuxedo jackets mixed up. One of them belonged to my date, who kindly offered to keep my wallet in his pocket. That’s the jacket another young man mistakenly grabbed off the back of a chair before heading to an underage drinking party that got shut down by police well after midnight—as kids scattered in every direction.  ... (click for more)

Roy Exum: The Famed Freitas Speech

Several weeks ago a member of the Virginia House of Delegates (that’s what Virginia calls the state legislature) stood up and before that body responded to a claim by a Democratic lawmaker that Republicans were pro-Second Amendment and segregationists. Nick Freitas, who did two tours in Iraq with our Army’s Special Forces and has talked candidly about losing friends to terrorist ... (click for more)