Chattanooga like many other places holds a walk or run to raise awareness and funds for various causes. There are three such walks/runs coming in the next few weeks.

The Susan G Komen race for the Cure of
breast cancer in Chattanooga is on September 28. This race supports breast cancer research. The race began in 1983 in Dallas as a promise kept by Nancy G Brinker to her sister Susan Komen who died from breast cancer.

The Chattanooga Memory Walk for  Alzheimer's is on September 20. The Alzheimer's Association has been working for a cure for almost 30 years.

This year Erlanger Hospital is sponsoring the ignaugural ignaugural Chattanooga Classic Prostate Cancer Walk on October 11.

My family, like so many others, has been impacted by all three of these diseases.

Most recently our Active Rain blogging network has been impacted by cancer.

Each of the race events makes available a personal fundraising website. If you would like to help with either of these efforts, please consider making a contribution to my event websites linked below.

You can make a contribution here.
Personal fundraising websites.

Susan G Komen Race for the Cure.

Chattanooga Classic Prostate Cancer Walk.

I will put up the Memory Walk website this weekend.

Richard Smith
American Acceptance Mortgage, Inc
Toll Free 888-474-9920 Cell 423-280-0345
Home financing in Tennessee, Georgia, and Alabama.
Experience matters when it is your home loan.

At the Chattanooga Association of Realtors meeting today, Taylor Jernigan from Montgomery spoke about what the community can expect from the new Volkswagen plant. The announcement in July that Chattanooga had won the bid for the new Volkswagen plant has been received with great excitement and expectation.

Taylor Jernigan,a past President of the Montgomery Association of Realtors,spoke before a sell out crowd today about the experiences that Montgomery had with the Hyundai plant,beginning in April 2002 with the announcement of Mongtomery as the site for the new plant.

The plant has brought employment and economic benefits that have exceeded projections. Employment has greatly exceeded the promised 2000+ new direct jobs. Additionally there have been over 5000 jobs added from Hyundai vendors who have moved into the 15 neighboring counties.

The overall economic impact has been $1.4 billion annually greatly exceeded projections. He mentioned significant improvements in infrastructure, including upgrades to the airport, improvements to the highways, and enhancements to the public schools.

One of the many side benefits of the Hyundai plant is the company's strong community involvement in so many areas.

The message - get excited about the Volkswagen plant coming to Chattanooga. And get excited about the new car design that will be produced here, an "innovative, efficient and affordable new automobile model specifically for the evolving demands of North American drivers."

Taylor Jernigan is a former Realtor of the Year and is 1 of 25 agents selected for the ignaugural class of the NAR Leadership Academy. His message was well received. Mayor Ron Littlefield attended the luncheon.

Richard Smith
American Acceptance Mortgage, Inc
Toll Free 888-474-9920 Cell 423-280-0345
Home financing in Tennessee, Georgia, and Alabama.
Experience matters when it is your home loan.

Hamilton County Real Estate Sales

Real estate sales information for Hamilton County, TN.  Call for information about qualifying for a conventional, FHA, VA, or Rural Development home loan.

It helps for both buyers and sellers to understand the trends for the local homes for sale in the local market.

Hamilton County is located in the southeast region of Tennessee. Its population is approximately 314,000. The county has several colleges and universities - University of Tennessee Chattanooga, Chattanooga State Technical Community College, Covenant College, Southern Adventist University, and Tennessee Temple University.

Hamilton County has over 20 distinct cities, towns and communities. The county seat is Chattanooga. Collegedale, East Ridge, Lakesite, Red Bank, Ridgeside, and Soddy Daisy are other incorporated cities in the county.

The government of Hamilton County is led by the County Mayor, Claude Ramsey, and 9 County Commissioners.

The Board of Education is led by Dr Jim Scales, and 9 board members from the 9 districts.

The county was named for Alexander Hamilton. 

The information in the below 5 charts indicates the local residential market trends over the last 12 months.

Chart 1 Average Selling Price and Average Listing Price
The trend of the average sales price and compared with the average listed price of those sold homes. This can give some insight as to how the market is supporting the asking price for listed homes.

Chart 2 Number of new listings and number of sold homes
The trend of number of homes listed and sold. This gives some indication of the balance between selling and buying in the local market.

Chart 3 Number of listings active on the market and average days on the market
The average day that properties have been on the market as well as the total number of properties listed for sale on the date this report was posted.

Chart 4 Average Price of New Listings
The trend of average price for newly listed properties. It gives an indication of the trending in the average price for the local market.

Chart 5 Median List Price to Median Sold Price
The trend of listing and selling prices. It indicates whether a market has declining or increasing values. The median price is the price at which half the homes sell for more and half the homes sell for less.

Would you like to know what payment you qualify for? or How much home you can afford?

Call me at 423-280-0345 or email me . Visit my website for information about purchasing your new home.

We offer excellent first time home buyer financing, as well as FHA, VA, and Rural Development loans. Visit my website to learn about our different home financing programs.

We specialize in new construction financing.

We have numerous lenders that offer a variety of programs that meet the financing needs of higher priced (jumbo loan) homes.

Your home financing goals can be fulfilled at American Acceptance Mortgage.

Richard Smith
American Acceptance Mortgage, Inc
Toll Free 888-474-9920 Cell 423-280-0345
Home financing in Tennessee, Georgia, and Alabama.
Experience matters when it is your home loan.

Chattanooga and Hamilton County real estate sales have been consistent over the last 14 years, as shown by the graphs below. The sales information is taked from the Multiple Listing Service and covers all residential home sales in all Hamilton County areas.

The market peaks from 2004 to 2007 are noticeable in the graphs, and follow trends similar to those throughout the nation. These peak years were caused in a large part by the existence of new mortgage loan programs that made home purchasing available to buyers who had not previously been elibible. These programs greatly expanded the market for home purchases.

Many of those new mortgage programs are no longer available. As a result, it should be expected that the home sales market will return to the more normal levels that existed before 2003, when those new programs were not available.

Two remarkable conclusions are evident in the graphs.

Home prices have shown a healthy, steady and sustainable growth throughout the last 14 years. That growth did not overheat during the peak market years, and it continues even in today's market.

The Days on Market statistic for 2008 is not significantly longer than the historical averages prior to 2003. This statistic show that homes are taking longer to sell than had been the case in the peak market years, but the sales time today is in line with the historical local market.

 
Home average list price, average selling price, and median price since 1994.

Home sales volume (number of sales) since 1994.

Days on Market for sold homes since 1994. 

These graphs show a healthy home sales market, that was not distorted by the mortgage excesses that have hurt some of the larger market areas.

We have a couple unknowns. The loss of several 100% purchase programs will have an impact. The FHA seller funded down payment program ends this month. On the positive side the impact of the Volkswagen plant will influence both sales volume and home prices.

Given the historical information and the good local economic prospects, it does seem to me that the local housing market is poised for a rebound and for sustainable growth in 2009.

Richard Smith
American Acceptance Mortgage, Inc
Toll Free 888-474-9920 Cell 423-280-0345
Home financing in Tennessee, Georgia, and Alabama.
Experience matters when it is your home loan.

The Friends of the Library Book Sale is going on this week, August 25 - September 4, 2008. It is one of my favorite things. Friends always come to me to make sure that I know about it as soon as it starts. They have a used book sale twice each year, in the spring and in the fall.

Hardbacks are $2. Paperbacks are $1. They also have magazines, music, CD's, albums, movies, maps, tapes. There is a special section for rare books. The last day of the sale, a large paper bag of books goes for $3.

I love the book sale. My wife has forbidden me to go anymore, so please do not let her know about this.

Friends of the Library at Sears Court in North Gate Mall.

Richard Smith
American Acceptance Mortgage, Inc
Toll Free 888-474-9920 Cell 423-280-0345
Home financing in Tennessee, Georgia, and Alabama.
Experience matters when it is your home loan.

To kick off the Labor Day weekend in Chattanooga, a large crowd was treated to three swing bands at the Swingfest in Coolidge Park. The largest part of the crowd was college age or younger. Several couples were dressed in prom attire. A wooden dance floor was set up in front of the Coolidge Park stage. When the dance floor filled, dancers poured out into the Coolidge Park field.

The bands all consist of local musicians. Several band members are present or former local high school and middle school band instructors. The Chattanooga Times Free Press has posted some photos of the evening. Here is the newspaper's article covering the event.

The swing music was excellent and the crowd, again mostly younger, enjoyed showing off their dancing talents. Music included Count Basie, Duke Ellington, Dizzy Gillespie, Frank Sinatra and Glen Miller.

 
Swingfest Coolidge Park, swing lessons between bands.

Swinging in Coolidge Park, on the stage dance floor.

Swinging in the Coolidge Park lawn

It was a fun evening, and a great crowd enjoying great music and singing. To top it off we were treated to a public marriage proposal from one of the band members.

BTW, she said yes.

Side, back, rock step. Ladies your part is a little more difficult.

And the dancers danced.

Richard Smith
American Acceptance Mortgage, Inc
Toll Free 888-474-9920 Cell 423-280-0345
Home financing in Tennessee, Georgia, and Alabama.
Experience matters when it is your home loan.

Part of the great Chattanooga downtown renaissance involves the development of upscale residences. Walnut Hill Townhomes is one of the newest additions. Mike Moon, Don Moon, and Dale Mabee of the Urban Renaissance Group, LLC, the developers, are building the first units of a townhome neighborhood in downtown Chattanooga.

The goal is to combine the feel of Chattanooga traditional downtown neighborhoods with the best of the rejuvenated urban experience. Home buyers will have walking access to down town, Walnut Street Bridge, the Hunter Art District, some of the finest restaurants, The Tennessee Aquarium and Imax Theater.

Floor plan options include 3 and 4 bedroom and 2 and 3 story units. Many custom features are available.

These townhomes are being constructed in the middle of some other upper end condominium and town home developments. Plans are to expand the current phase with additional units.

Prices start at $615,000.

There are 6 units now under construction and 3 have been presold so far.

Walnut Hill Townhomes street view

Walnut Hill rear view

Walnut Hills view in the down town neighborhood.

The new townhomes are across from Cherry Street townhomes and next to Museum Bluff View condominiums. More units are planned in the future.

Richard Smith
American Acceptance Mortgage, Inc
Toll Free 888-474-9920 Cell 423-280-0345
Home financing in Tennessee, Georgia, and Alabama.
Experience matters when it is your home loan.