October Produces A Strong Month Of Home Sales

Wednesday, November 21, 2012

Home sales increased in the Greater Chattanooga area, according to information released by the Multiple Listing Service of the Greater Chattanooga Association of Realtors.

Officials said, "It's been a giant year for the housing market, as we round out the remaining two months of the 2012. Most markets shed listings, resulting from strong sales and lessened seller activity." 

Closed sales for the month of October increased by 31.3% finishing at 562 homes sold. New listings coming to market in the Chattanooga region were up 17.8 percent to 892 for the month compared to the same period last year. However, overall inventory available for sale shrank 10.4 percent to 4,814 units. 

There has been a general easing of foreclosures and short sales, meaning distressed listings are dragging prices down less right now than in recent years. Prices turned higher as the Median Sales Price was up 12.3 percent to $144,601. Days on Market decreased 6.9 percent to 121 days. Months Supply of Inventory was down 21.2 percent to 8.9 months, indicating that demand increased relative to supply. 

GCAR President Mark Hite said, “The economy is growing, but not at the pace most of us desire and economic growth in 2013 is expected to outpace 2012 which is positive if it this prediction becomes a reality mortgage rates are expected to remain near historic lows through 2015, rents are expected to rise due to low vacancy.”


Lindsay Stepping Down As Full-Time CFO At CHA

During a Chattanooga Housing Authority meeting Tuesday afternoon, it was announced that CFO Philippe Lindsay would be stepping down from the full-time position to work with the CHA on a contractual basis. CHA Executive Director Betsy McCright said, "Our plan and hope is that after he leaves the full time staff, he will be able to be here about 40 hours a month to work with us ... (click for more)

Dare Remodeling And Construction Services Is April Remodeler Of The Month

Dare Remodeling & Construction Services is the April Remodeler of the Month for the Home Builders Association of Greater Chattanooga.  Dare Remodeling & Construction Services, LLC is a fully-licensed, bonded, and insured Design/Build General Contracting firm, specializing in artisan craftsmanship and unparalleled customer service. Officials said, "The company ... (click for more)

Berke Names Fred Fletcher, Of Austin, Tex., New Chattanooga Police Chief

Mayor Andy Berke announced Thursday that Fred Fletcher of Austin, Tex., is his pick for Chattanooga Chief of Police. With 20 years of experience in law enforcement, Mr. Fletcher has served in an executive, command, or supervisory role for 12 years.  As commander in Region III of the Austin Police Department, Mr. Fletcher spearheaded community initiatives including a drug market ... (click for more)

Child, 23 Months, Found Dead In Crib With Fentanyl Patch On Back; Death Ruled Homicide

A 23-month-old Chattanooga boy has been found dead in his crib with a Fentanyl patch on his back. The death of Demarcus Bryant at 7655 Borris Dr. last month was ruled a homicide. An autopsy report says he died from "Fentanyl patch placed by someone else." Chattanooga Police are investigating. No one has yet been charged. The child was found face down in his crib. ... (click for more)

A Slap In The Face To Local Police Applicants

Little Andy has once again shown what he thinks about the Chattanooga Police Department by ignoring all the applicants from within the department. There were several great candidates within the police department that had as much experience as the chosen one from 1,000 miles away. This is a slap in the face for any officer who is at the Chattanooga Police Department who has aspirations ... (click for more)

Roy Exum: Northwestern Players Vote

The National Labor Relations Board, 0-1 this week after the United Auto Workers cancelled a hearing one hour before it was to begin in Chattanooga, has another chance for a last-minute finish today. In what will be under a more harsh light, the Northwestern University football team is expected to vote on whether to become a union Friday morning. Yesterday afternoon there remained ... (click for more)