Real estate coming alive again in Johnson CountyBy Paula Walter
Spring has finally arrived in the mountains of northeast Tennessee. Flowers are blooming and trees across the region are budding with new life, painting an amazing picture. For those who are looking to buy or sell property and houses, there isn’t a better time than now.
The housing market has been depressed for the past seven years. The bottom fell out of the market and home prices plunged. Many of the home sales in Johnson County are made to people from outside of the area who are looking to retire. It caused a domino effect and our region’s home sales stalled.
However, recent real estate trends have improved and sales are on the rise. Much of the home inventory has now been sold. When the supply of housing has decreased and the demand goes up, prices rise. This may be the time to consider purchasing a home before housing becomes scarce and mortgages rates increase.
“Sales are picking up from last year,” said Mike Robinson, with Barry Realty in Mountain City. According to Robinson, homes prices $100,000 or less and land sales are moving fairly quickly, especially those in the $50,000 to $60,000 price range. While homes up to $250,00 are selling, there has been no sales movement in houses over $500,000. “People are still holding onto their cash right now,” Robinson said. “It is still definitely a buyer’s market.”
There are some inexpensive ways to prepare your home for viewing by potential buyers. With some elbow grease and creativity, you can prepare your house to be ready at a moment’s notice. While thousands of dollars can easily be spent, the following offers some inexpensive suggestions to spruce things up around your home.
Consider changing the cabinet knobs and drawer pulls in your kitchen and bathrooms. These can be purchased at hardware store, but an inexpensive alternative is to take a look at ebay or visit yard sales and flea markets for deals. Change out switch plates, towel rings and toilet paper holders to freshen things up. If possible, consider painting the rooms in your house to a neutral and inviting color.
For the rest of the story, pick up a copy of this week's Tomahawk.