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."



Jones Raulston Presents Class On The Impending Residential Real Estate Changes Coming Oct. 3

Laura Perry, attorney at law and president of Homeland Title, presented over 200 realtors, builders and lenders with key material regarding the new disclosure regulations on Residential Lenders. These new forms and disclosures will affect the consumer mortgage loan application and closing process from Oct. 3 forward.  Other presenters at the class were Chrissi Rhea, president ... (click for more)

East Brainerd Commercial Center Sells For $2.7 Million

An East Brainerd commercial center has sold for $2.7 million. The strip center is at 7548 E Brainerd Road. The location is just down from Heritage Funeral Home and across from St. Martin's Episcopal Church. The sale was  to Andrew T  Adams from Hickory Land Co Llc, Hudson Companies Inc, Concorde Centre Lp, Concorde Centre Gp . (click for more)

Hutcheson Medical Center Unsecured Creditors Committee Asks Trustee Be Appointed For Fort Oglethorpe Hospital; Asks Bankruptcy Not Be Dismissed

The Unsecured Creditors Committee of Hutcheson Medical Center is opposing a motion by U.S. Trustee Guy Gebhardt for a bankruptcy judge to dismiss the bankruptcy for the financially-ailing Fort Oglethorpe hospital.   Instead, the group is asking Judge Paul Bonapfel to appoint a trustee to oversee the Hutcheson finances. In a 16-page motion, the committee said if the bankruptcy ... (click for more)

Developer Says CARTA To Lease 75 Parking Spaces At Renaissance Park Lot For New $14 Million Apartments

A member of the Vision Hospitality Group said Tuesday that CARTA plans to lease 75 spaces at the public parking lot by Renaissance Park for its planned $14 million apartment complex. Drew Hibbard, vice president of finance and investments, told members of the North Chattanooga Council of the Chamber of Commerce that it will be under a 50-year lease with the transit group that ... (click for more)

Sheriff Hammond Is Right On The Muslim Threat - And Response (2)

Sheriff Hammond is exactly correct on the Muslims in Tennessee.  He sees with clear eyes the problem with the Muslims in our state and country.  They do want to take over Tennessee.  Our politicians are selling us down the river and allowing the trouble makers to dig in like tics and suck out the life's blood of our Constitution and take us over.  They ... (click for more)

Roy Exum: The Barners Trounce Who?

There is a website known as Grammarly that just completed a profound study. An automated proof-reading company (who I hope never finds out about me) collected 100 comments that each included over 50 words from the comment blogs of the nation’s preseason Top 25 college football teams. Then they fed them into the company’s huge algorithm computer and checked each fan base for punctuation, ... (click for more)