I'm Troy Stavros (Knoxville Troy) a real estate agent who loves living in East Tennessee or as I like to call it "God's Country." Each week I make a video showing another fun, beautiful, and exciting place to visit in East Tennessee. One week I'll be visiting one of our local parks, lakes, or nature trails with all of Tennessee's wildlife, and the next I'll be driving through one of our beautiful neighborhoods showing you where you might want to live. I also provide real estate tips for buyers and sellers. Please subscribe to my channel, like the videos, leave a comment, and hit that bell to get notified of new videos and as always... Enjoy God's Country!
It’s getting flat out ridiculous at this point. The infrastructure cannot keep up, and the cost of living for locals has almost doubled, yet the base pay has barely increased to match. It just stinks that all this is happening at such an alarming rate.
I feel ya. We are definitelly feeling the growing pains. Part of which is affordability regarding buying a home. The American Dream has gotten out of reach for many in East Tennessee with the combination of higher prices and higher interest rates. Then slap inflation prices of everything else on top of that.
What funny is that TN folks are the exact opposite politically and religiously than the people they are selling their properties to. Yall want to sell ypur property for 3 and 4 times what it's worth, you're going to pay for it in the long run by attracting liberals from CA and NY. You've priced locals such as myself out of the market.
Fascinating insights! Shedding light on misconceptions about foreclosure crisis in Knoxville & East Tennessee. Optimistic about the real estate forecast. Thanks for sharing!
Thanks! I do these regularly. In what can be volatile times, it's definitely important to keep your finger on the pulse of the market, but from what I'm seeing 2024 should hopefully bring slightly better interest rates and inventory unfortunately will remain constrained which will keep prices up. Don't hesitate to reach out with any questions if you have any. I'm happy to help!
California is a cesspool of crime, drugs, homelessness, pro criminal democrats, America hating democrats, California gives sanctuary status to criminals, California Governor Newsom released 74,000 criminals from prison early because the democrats can’t financially run the state and of those 74,000 prisoners 46,000 were convicted of violent crimes like rape, burglary, assault, gang bangers, etc, and California’s Governor Newsom wants to be president. Democrats are destroying America.
With exceptionally low taxes, how does the state match up against the rest in things like education, infrastructure, and public health? Where are the costs made up at, is it just a shortfall they collect from federal, or is that not a priority for the state to provide to their citizens.
Thank you for sharing your thoughts! It's true that Tennessee's rankings in certain areas are lower compared to states like California, Illinois and New York. This might not be entirely surprising considering the significant difference in tax collections. Those states collect around 3-5 times more in property tax, in addition to a state income tax, which provides them with more funding for various sectors. Despite these rankings, Tennessee is witnessing a notable influx of people from states, with the top migrations coming from California, Illinois, and New York. The tax structure is just one of the many appealing factors contributing to this trend. I delve deeper into these aspects in a comprehensive video, which provides a detailed overview of the various reasons behind this migration trend. Your insights are valuable, and I appreciate the time you took to watch and respond: Here is a link to that video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-bDG6wGirwoI.html
No quick about it. People have been coming in waves since 2020 and I don't see that ending anytime soon. The secret of this area is officially out. Home prices aren't cheap anymore (unless you are coming from a high cost area) but cost of living otherwise is still more affordable. Did a whole video on the reasons so many are migrating here, but if you live in Tennessee, I'm sure you already know them: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-bDG6wGirwoI.html
Thanks so much! Glad it's helpful. Knoxville is a beautiful place to live and the secret is out. Let us know if we can help in any way. Happy to answer any questions you might have.
People moving from blue states where salaries and housing are 5-8 X what they are here, are coming here and snapping up houses faster than those of us who are from here ( the South) and looking for something under 400-500K. The market for houses under 300K is a constant dog-eat-dog ordeal because no one in a less than amazing home is selling their homes - because they can't afford to buy a better home, when there is a huge gap generally speaking between the 300K market and the 500K market. If you have 750K to spend, you can find a house. If you want a nice home at 350K, good luck finding one, and if you want something affordable at under 300K, well good luck with that even finding something to buy that's not absurdly priced.... just waiting for someone from CA or CO or NY to snap up a $200K value home for $349K.
Lots of truth in what you've written, although we have seen the influx of buyers from out of state slow down quite a bit since 2021 and early 2022. It went from about 25% of buyers down to about 8%. Low inventory is making it hard for all buyers and unfortunately, unless there is some catastrophic economic collapse, I don't see that changing. The "lock-in" effect is having a huge impact on inventory (that is when homeowners have locked in to super low interest rates over the last few years, most under 4% and many under 3%, and are choosing not to put there homes on the market and trade to a 7% interest rate... can't say I blame them.)
Prices are not going to crash nominally, but adjusted for inflation they will lag behind most other assets and consumption goods in the country for the next 5-8 years.
That might be true in some parts of the country but I don’t see that being the case here in East Tennessee where the median sales price is UP $30,000 from last year while nationally it was down. Ultimately supply and demand will be the deciding factor and demand is high here in East Tennessee with no sign of a wave of inventory coming from anywhere. That being said, something catastrophic with the economy could change just about any projection.
Hi Troy thank you for sharing this amazing property with us! Your attention to detail and expertise in real estate is truly impressive. I love the way you showcase each property with such care and attention, and your videos are always informative and engaging. Keep up the great work -
Gosh every time I look at this stuff it is so depressing. I don't want to give up hope but it is so hard to get a down payment together and the pricing is so high here. This is my home town, I don't want to leave. But it's not getting any better. Too much greed, not enough places to live.
I totally understand. So many first time homebuyers have been priced out of the market. Don't give up though. Keep saving the best you can and remember you only need a minimum of 3-5% for a down payment. The key is being patient but ready for when the right opportunity presents itself.
any land in Tennessee priced over $1k/acre is overpriced; is Blount County the Beverly Hills east of the Mississippi? one seller is asking over $45k/acre 1/2 mile from Townsend TN... wtf? the agents are a virus over-selling false dreams... I didn't mention the sellers that hold restrictions on the land they "sell", (restrictions are a collateral attack on a Land Patent and constitute fraud), any sellers offering only surface rights are not actually selling the land... be aware ...
Can't say I've seen $1K an acre in the 20 years I've been in the business here. Prices fluctuate on supply and demand, so if someone is willing to pay a seller's price then that is market value. If they aren't willing, the prices will ultimately come down. Finding crazy deals on property is unfortunately in the rear view mirror. At least right now, when people are flooding into East Tennessee from other parts of the country. HIGH demand, and low supply will always equal high prices.
Hey Howard. This home sold back in May. Can we help you find something similar? Good news is now we are seeing a bit morew inventory hit the market and more negotiation happening (unlike back in May.)
Is there a demand for houses in Jefferson City? Me and a contractor are interested in building in that area bc it's hard to find affordable and buildable land in Knox county. What's the median sale price for 3bd and 2ba 1200-1400 sqft in the area?
I should have a new update up by next week. Just waiting for all of the data to be in. In the meantime feel free to text or email me any questions you might have. troy@865realestate.com or 865-999-0925.
@@KnoxvilleTN I have witnessed a one foot deep creek going 8-10ft up ... Happened once in a while, but you never know. Even hurricane Ian was once in a hundred years storm.
@@nicknicoara1092 I agree! We've definitely seen some flooding situations here where creeks have turned into lakes but as far as I know, when that happened locally, this place wasn't affected.
