Knoxville sits in eastern Tennessee and is home to nearly 190,000 people. Located just over 3 hours north of Atlanta, the city is surrounded by the Appalachian Mountains and the Tennessee River. Chattanooga is the fourth-largest city in the state. It is part of a tri-state metropolitan area including Tennessee, Georgia, and Alabama.
Chattanooga spans just under 145 square miles, and its impressive cityscape can be seen from miles away. Chattanooga has been ranked nationally for livability, and the city has been recognized for its efforts in solar energy investment.
Like much of the state, Tennessee sees more rain than the average state. The 51 inches of rain the city receives each year help keep the surrounding mountains green and scenic. Chattanooga’s subtropic climate keeps the winters drier, with just two inches of snow yearly. Summer highs sit at 89 degrees Fahrenheit, while the winter dips to average lows of 29 degrees Fahrenheit. Chattanooga sees 70% humidity in the summer, and its location on the river can make it feel even more humid.
Understanding the neighborhood where you’ll buy or sell a property is critical. The real estate industry has a well-known phrase: location, location, location. When you’re buying or selling a property, the one thing that can’t be changed is the location. You’ll want to choose wisely. If you’re selling your property, highlighting the benefits of your neighborhood is a great way to attract buyers. If you’re purchasing a house, a closer look at the community will help you understand the market and investment potential more clearly.
Need to sell your home fast? Get an offer from Brick, fast!
Whether you’re moving on a deadline or you just want to speed up the sales process so you can move on faster, we can help. We offer:
Fast, fair offers: The average home sits on the market between 25 and 30 days. Once your home is under contract, it can take up to 45 days to close. At Brick, we’ll make a fair, cash offer within days.
No closing costs: Selling a home can cost several thousand dollars when you factor in realtor fees, closing costs, and repairs. You won’t have any of those expenses when you sell to Brick.
No walkthroughs: Don’t worry about scheduling open houses or walkthroughs. We purchase homes as-is. We can even buy properties sight unseen. We also buy properties in any condition.
Close in days: Instead of waiting a month or more to finalize your sale and move on, sell to Brick. Once you accept the cash offer, we can close the deal within days.
Housing Market Trends in Chattanooga, Tennessee,
The housing market in Chattanooga is somewhat competitive. The median sales price for a home in Chattanooga is $360,000, an increase of 23 percent from last year. The average home sells 2 percent above asking price, while more popular homes can earn 8% above the asking price. Homes stay on the market for an average of 39 days.
Sales are trending upward in Chattanooga. Last year, the median sales price for a home in Chattanooga was $335,000. Homes are selling much faster this year, as the average home stayed on the market for about 60 days last year. In July 2018, the median sales price for a home in the city was $249,000, and homes stayed on the market for about 54 days.
Tips for Selling Your Home Fast:
Significant life changes don’t always come at the most convenient times. Selling your home may be a desire, or it might be a necessity. Whether you’ve decided to start a new life across the country on a tight deadline or are just ready to ditch your investment properties, managing your sale the right way is essential. Check out these helpful articles for navigating the quick sale of your house:
- Need to sell a home quickly to avoid foreclosure?
- When you need to sell your home fast, what are your options?
- How to sell a house that needs work when you don’t want to do it.
Critical Tips for Selling Your Home:
Selling your home(s) can be difficult, but it doesn’t have to feel overwhelming. Taking a few minutes to prepare for the sales process can make a difference when it comes time to part with your house. Here are a few things to consider:
Why are you selling?
Before you list your house or contact us for a cash offer, it helps to know why you’re selling your home. Identifying the why helps with sales, including setting expectations for a sales price. It can also help you emotionally process the transaction to let go of your property.
Sellers offloading an inherited property, downsizing, going through retirement, or selling because of a divorce, should consider whether their emotional attachment could make the sales process more difficult. We’ve noticed that buyers who are overly passionate about the sale are more likely to:
- Ignore staging advice
- Overprice the home
- Respond irrationally to lower offers or requests for repairs
- Fail to market to their target audience
If you’re selling because you want to liquidate your investment properties, you may need to consciously withdraw the idea of control over what happens to the property once you sell.
What are your selling needs?
Once you’ve identified why you’re selling and identified ways to emotionally detach from the sales process, it’s time to think about your needs during the sales process. Which of these are concerns you have about your upcoming move?
- Cost of relocation
- Access to equity in your property
- Ability to provide seller financing
- Time to pack and move
- Cost of realtor fees and closing costs
- Cost of repairs
- Finding a buyer to purchase the property as-is
- Desire or ability to manage walkthroughs and appraisals
Many sellers spend as much as 10% of their sales price on repairs, fees, and closing costs. Are you comfortable or able to let go of that money to sell your home on the traditional market? If your home needs extensive repairs, you may need to pay for repairs or make concessions on the sale price. If you’d rather avoid appraisals and negotiating with buyers, selling your home for cash could be a better option.
Prepare for signing and closing
Signing and closing are the most anticipated parts of selling a house. This final step makes everything official. The process can vary depending on whether you sell your home through the traditional market or with an ibuyer.
If you sell your home on the traditional market, the sale can fall through at any point before closing. Complications with appraisal or funding could delay a sale. In worst-case scenarios, a deal could fall if a buyer isn’t approved for financing or the lender refuses to fund the loan because the property appraises for less than the offered amount.
You’ll meet with the lender and the buyers during closing and sign paperwork to finalize the sale. Before the final paperwork, your property undergoes an appraisal and inspection. The agent will do a title search, and you’ll complete any repairs or other concessions. Once the closing paperwork is filed, and the title is transferred into the seller’s name, the home is no longer yours.
When you work with an ibuyer, the closing process is a little different. The process is much faster because there are fewer hoops to jump through. We offer more flexibility for sellers, including the ability to control when you move out. We don’t require inspections or appraisals, and you won’t have to worry about our financing falling through. We can help you sell your home in days instead of weeks.
What does Chattanooga have to offer:
Chattanooga’s location on the Tennessee River provides easy access to various outdoor activities, including walking trails and water events. The city’s downtown area offers guests and residents a wide range of entertainment, dining, and cultural opportunities. Some of the most popular attractions in and around Chattanooga include:
- Tennessee Aquarium
- Rock City Gardens
- Ruby Falls
- Hunter Museum of American Art
- Chickamauga and Chattanooga National Monument
- Lookout Mountain
- Creative Discovery Museum
- Tennessee Valley Railroad
- That Chattanooga Zoo at Warner Park
- Tennessee Riverwalk
- Raccoon Mountain Caverns and Campground
- Lookout Mountain Incline Railway
- Coolidge Park
- Lake Winnepesaukah Amusement Park
- Cumberland Trail
- Chattanooga Market
- Bluff View Art District
- Prentice Cooper State Forest
- Harrison Bay State Park
- Chickamauga Battlefield Visitor Center
- Craverns House
- Booker T. Washington State Park
- Sunset Rock
- Snooper’s Rock
- Songbirds Guitar & Pop Culture Museum
- SOAKya Water Park
- Tivoli Theatre