Wednesday, July 22, 2009

Focus on Highland Park/Ridgedale: Chattanooga's Historic Neighborhoods


Bounded by Holtzclaw and Willow, McCallie and Main, Highland Park surrounds Tennessee Temple University. Several Temple Alumni and home restorers have been fixing up these houses over the late 1990's and early 2000's. The bulk of the homes on Chamberlain and Duncan have been renovated, nearly as many on Bailey and Union have been restored. These homes command a premium price, particularly those with original historic details. The Highland Park Neighborhood Association sponsors a tour of homes each year. The neighborhoods of Highland Park, Ridgedale, Oak Grove, Orchard Knob & Bushtown are often collectively referred to by Chattanoogans as Highland Park.

Bordered by Willow, Missionary Ridge, McCallie & Main, Ridgedale was originally conceived as an addition to Highland Park but it has now evolved into its own individual neighborhood complete with its own nighborhood association. The residential area between Dodds Avenue, Missionary Ridge, Main & 23rd Streets are also part of Ridgedale.

Tentative plans for a new park at the border between Highland Park & Ridgedale neighborhoods are currently being considered.

Although the Victorian was the most popular design for much of Highland Park's building period, the Four Square and Bungalow designs are the hallmarks of the Highland Park neighborhood. Many homes share a Craftsman or what I call a "transitional Craftsman" style, meaning that there are Craftsman elements without necessarily having all the elements of a true Craftsman home.

The heyday of this area was between its original development in the late 1800's, early 1900's and the 1950's. Urban blight and the demographic move to the suburbs claimed the Highland Park area as a victim. Crime increased and many of the once proud homes were subdivided into multi-family rentals. In the early 1990's, as many Chattanoogans started to become aware of Chattanooga's rich architectural history, several Highland Park residents - most notably Ginnie Tatum - decided to take back their neighborhood and formed a neighborhood watch from which the Highland Park Neighborhood Association was born.

Ginnie Tatum recently passed away and while she may be gone, the work she began is certainly continuing with the addition of more and more renovated historical gems and a thriving neighborhood.


Hamilton County Market Statistics

All of Hamilton County
All active, residential listings as of 7/20/09: 2,838
Pending or contingent listings (under contract) as of 7/20/09: 725
Residential listings closed (sold) during June 2009: 333
Number of months to sell current actives at June's sales pace: 8.5

Hamilton County, under $100,000
Active, residential listings: 620
Pendng or contingent listings: 139
Residential listings closed during June 2009: 85
Number of months to sell current actives at June's sales pace: 7.3

Hamilton County, $100,000-200,000
Active, residential listings: 1,050
Pendng or contingent listings: 195
Residential listings closed during June 2009: 140
Number of months to sell current actives at June's sales pace: 7.5

Hamilton County, $200,000-400,000
Active, residential listings: 769
Pending or contingent listings: 103
Residential listings closed during June 2009: 89
Number of months to sell current actives at June's sales pace: 8.6

Hamilton County, over $400,000
Active, residential listings: 399
Pending or contingent listings: 18
Residential listings closed during June 2009: 19
Number of months to sell current actives at June's sales pace: 21

Tuesday, June 9, 2009

ArtsMove Chattanooga




For artists considering a change of scenery, take a look at Chattanooga.

ArtsMove is a newly expanded program which provides assistance to artists moving to the Chattanooga urban area from at least 50 miles away.

Click here for more information.

Chattanooga was recently named #2 art destination among mid sized cities by AmericanStyle magazine and the city is committed to encouraging local art and artists

Monday, May 18, 2009

Interest Rates for May 18, 2009

CONVENTIONAL

30 yr fixed – 4.5% APR 4.629% 360 P&I Payments @ $1013.37

15 yr fixed – 4.25% APR 4.474% 180 P&I Payments @ $1504.56

- based on $200,000 loan and excellent credit

GOVERNMENT

30 yr FHA/VA fixed – 4.625% APR 5.242 360 P&I Payments @ $1007.17

- based on $200,000 sales price

THDA

Great Rate – 5.55% APR – 6.131% 360 P&I Payments @ $562.11

Great Advantage – 5.85% APR – 6.446% 360 P&I Payments @ $580.56

Great Start –6.15% APR – 6.760% 360P&I Payments @ $599.54

-based on $100,000 sales price


Rates courtesy of Sarah Suits, for more information & details call or email:

Sarah_Suits@UCBI.com 423-339-5463

Flat Fee or Limited Service Listings

With the downturn in the economy in general and housing in particular, many sellers are understandably looking for creative ways to maximize the cash they will net from the sale of their home. Many find themselves considering a "For Sale by Owner," or FSBO. The problem with this approach is that the vast majority of buyers search online or through buyer's agents when looking for a new home. While there are many services that will publish FSBO's to a website, the fragmentation of the different sites means that your potential buyer is trying to find a needle in the proverbial haystack. Buyer's agents, when looking for homes for their clients, rarely search FSBO's unless they have personally seen a home that meets that client's needs. Smart sellers realize that the fastest and easiest way to sell their home (often for the highest price) means a listing on the local multiple listing service (MLS) and the assistance of a buyer's agent.

How can an experienced seller capitalize on their own expertise? One way is through so called "flat fee," "limited service," or discount listings. The most accurate of these terms is "limited service." You truly get what you pay for and the services provided by the typical listing broker certainly has its place. However, for the homeowner or investor who has experience with the selling process and doesn't necessarily need those services, paying a flat fee instead of a seller's agent commission in order to have their home placed in the local MLS may be the best and most cost effective option.

Even though we are a locally owned Chattanooga/NW Georgia area full service real estate brokerage, we recognize that some sellers want more options than all or nothing. Click here for more information including pricing and services offered. Click here to find out why a discount listing through Julia Odom & Southern Style Realty is preferable to choosing an out of town internet based company.

Wednesday, May 13, 2009

Sweet Diversity


May 14th, 5.30pm
South Chattanooga Recreation Center
1151 W. 40th St in Alton Park/St. Elmo.


Join me and the residents of District Seven for a sugar rush the likes of which have not been seen in Alton Park for lo these many years.

Hosted by the Chattanooga City Office of Multi-Cultural Affairs and Councilman Manny Rico, Sweet Diversity gives the residents of District Seven (Ridgedale, Alton Park & St. Elmo) a chance to show off their cultural heritage and culinary skills.

Sweet Diversity is free and open to the public. Individuals, neighborhood associations and community groups are welcome to take part in the festivities. Participants bring desserts, distribute recipes, and display information about their cultural & ethnic background.

(Pictured: My soon to be famous pecan tartlets)


Tuesday, May 12, 2009

Hamilton County Market Statistics

All of Hamilton County
All active, residential listings as of 5/11/09: 2,663

Pending or contingent listings (under contract) as of 5/11/09: 486
Residential listings closed (sold) during April 2009: 226
Number of months to sell current actives at April's sales pace: 11.8 months

Hamilton County, under $100,000
Active, residential listings: 532
Pendng or contingent listings: 122
Residential listings closed during April 2009: 69
Number of months to sell current actives at April's sales pace: 7.7 months

Hamilton County, $100,000-200,000
Active, residential listings: 991
Pendng or contingent listings: 211
Residential listings closed during April 2009: 107
Number of months to sell current actives at April's sales pace: 9.3 months

Hamilton County, $200,000-400,000
Active, residential listings: 749
Pending or contingent listings: 136
Residential listings closed during April 2009: 45
Number of months to sell current actives at April's sales pace: 16.6 months

Hamilton County, over $400,000
Active, residential listings: 396
Pending or contingent listings: 20
Residential listings closed during April 2009: 5
Number of months to sell current actives at April's sales pace: 79.2 months