Home Sales Dip In August

Thursday, September 19, 2013

Strong demand for a limited supply of homes for sale has seemingly outweighed higher mortgage rates, at least for the time being. The idea that mortgage rates may rise further is likely spurring some of this demand. The dream of homeownership is very much intact, but buyers should be prepared with competitive offers, since every measure of market health is pointing upwards.

New Listings in the Chattanooga region were down 2.8 percent to 1,037. Closed Sales dropped slightly by 4.1% closing at 652 residential units. Inventory shrank 2.9 percent to 5,149 units. Prices moved higher as the Median Sales Price was up 6.7 percent to $144,000. Days on Market decreased 4.0 percent to 120 days. Months’ Supply of Inventory was down 8.2 percent to 9.0 months, indicating that demand increased relative to supply.

Greater Chattanooga Association of Realtors President Mark Blazek said, "Eyes continue to fixate on the Federal Reserve and its policy inclinations related to stimulus tapering. Labor market growth is positive but still tepid. Things like gas prices, stock market shifts and global economics have a tendency to sway consumer sentiment. At the moment, U.S. housing continues to be a bright spot."



Real Estate Transfers For May 12-18

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)

Asking Price For East Brainerd Elementary School Site Is Just Under $5 Million

The asking price for the East Brainerd Elementary School site at 7453 East Brainerd Road is just under $5 million. Robert Fisher of KW commercial said, "This property is 9.1 acres of level land located in the heart of Chattanooga's retail district. It is one block off of the E. Brainerd Road and Gunbarrel Road intersection. "It has been a very long time since a retail ... (click for more)

Sources Say Domestic Incident Involving Mayor's Aide Came After Husband Confronted Her And Mayor Behind Restaurant; Berke Says Charge "Absolutely False"; Fletcher Says Gave Shelter To Lacie Stone; Case Handled Like Any Other

A domestic disorder involving a top female aide to Mayor Andy Berke was sparked after her husband recently confronted the aide and the mayor in a parked car behind a Mexican restaurant, several sources said.   Mayor Andy Berke said late Tuesday night, "Last weekend a member of my senior staff was the victim of a domestic assault involving her husband. Upon being arrested ... (click for more)

Attorney For Bobby Stone Hits Berke, Fletcher For Commenting On Pending Case

The attorney for Bobby Stone on Wednesday said it was "fundamentally wrong" for Mayor Andy Berke and Police Chief Fred Fletcher to comment on the case in which Mr. Stone is charged with domestic assault against his wife, Berke advisor Lacie Stone. Attorney Lee Davis said the comments were unfair and "a disservice to the court." Mayor Berke denied any inappropriate contact ... (click for more)

Case Handled Like Any Other? - And Response

It is interesting that Chief Fletcher would deem the handling of the Mayor's encounter as typical or normal. Is the Chief asking the public to believe that all misdemeanor domestic violence arrests include a 4-hour taped interrogation, and delayed reporting after a visit to the Chief’s house. Of course, we believe that Chief Fletcher. April Eidson * * *  I ... (click for more)

Roy Exum: Christian Schools Bully, Too

Earlier this week, after I shared a story about bullying written by a very brave mother, it opened a floodgate of emails from parents and students who have been forced to endure such madness in our elementary, junior and senior high schools. Discipline is the No. 1 problem in our schools. Because of it, or because of a lack of it, no wonder our children cannot achieve all that ... (click for more)