Knoxville TN Real Estate Blog

Concord / Bluegrass West Knoxville 37922

Find Concord-Bluegrass West Knoxville Real Estate and Homes for Sale CLICK HERE

City Overview

Metro area: Knoxville
Distance to Knoxville (downtown): 13 miles
Distance to Airport (McGee Tyson: 12 miles
Distance to University of Tennessee: 13 miles

The Concord-Bluegrass subarea of Knoxville is located to the south-west of downtown Knoxville.  Considered West Knoxville proper, it borders the town of Farragut to the west, the Cedar Bluff area is just to the north, Westmoreland and Bearden border Concord-Bluegrass to the east and Alcoa is directly to the south.  Concord-Bluegrass is also home to Gettysvue Country Club, a private and exclusive golf community.

Concord-Bluegrass attracts working professionals with families due to the schools in this subarea having the highest ratings in Knox county.  This area has a suburban feel comprising mainly of newer subdivisions of 2-story single family homes.  The area is surrounded by waterways, parks and greenways.  Well known Turkey Creek shopping complex is only a 5 minute drive and it's proximity to Kingston Pike allows for easy access to all the shopping conveniences. 

Concord is actually an unincorporated village of Knoxville that is listed on the National Register of Historic Places.  Concord, TN has a downtown that runs along what is now Concord Road and Northshore Dr., sitting along Fort Loudon Lake. 

The surrounding area of Concord-Bluegrass has been transformed into an affluent community that has left behind much of its rural roots.

Housing

The starting price for a home in Concord Bluegrass starts around $175,000 and can go up to over a million.   The most common price range of single family homes in North Knoxville is between $200,000 and $300,000.  Search Concord-Bluegrass Real Estate or call 865-621-3658.

Schools

The Knox County School district serves Concord-Bluegrass and all of Knox County.  The schools that specifically serve Concord Bluegrass are Bluegrass Elementary, AL Lotts Elementary, West Valley Middle, and Bearden High.  There are also several private schools near Concord-Bluegrass: La Petite Academy, Kinder Care Learning Center, National College of Business, Oakmont School, Giving Tree Montessori and Knoxville Catholic High School.

Recreation

One of best features of the Concord-Bluegrass area is all of the wonderful parks and waterways it has to offer.

Lakeshore Park located at the corner of Westland and S. Northshore.  A popular place to run and walk, Lakeshore Park provides spectacular vistas of Fort Louden Lake and the Smokey Mountains.

Carl Cowan Park located at 10058 S. Northshore Dr. This 32-acre park is a relaxing place to spend the day, with ball fields, a playground, and lots of walking trails. Bring your lunch and enjoy one of several picnic areas before seeing a boat launch on the lake or taking a dip in the outdoor swimming pool.

Concord Park located at 10901 S. Northshore Dr.  This park surrounds an idyllic boat marina and has picnic areas and plenty of space for a leisurely walk or your favorite athletic pursuit. Tennis courts, roller hockey, a playground for the kids, an outdoor swimming pool, and trails for running or in-line skating let you enjoy 450 acres of Tennessee's great outdoors.

Hospitals

Fort Sander's West - 270 Fort Sanders West Blvd (1 mile)
St. Mary's Medical Center - 900 E Oak Hill Ave, Knoxville, TN (10 miles)
Fort Sanders Medical Center - 1901 W Clinch Ave (12 miles)
Parkwest Medical Center - 9352 Park w Blvd, Knoxville, TN (3 miles)
University of Tennessee Medical Center - 1924 Alcoa Hwy (12 miles)
East Tennessee Children's Hospital - 2018 W Clinch Ave (10 miles)
Baptist Hospital - 137 E Blount Ave (13 miles)

Transportation

The Knoxville are has an extensive highway system for a city this size.  Interstate 40 runs right through the center of Knoxville and connects with interstate 75.  I-75 south will take you to Chattanooga in an hour and a half and Atlanta in 3 hours.  I-75 north will take you to Lexington, Kentucky in about an hour and a half.  Traveling west on I-40 will get you to Nashville in about 2 hours.  Traveling east on I-40 will get you to Ashville, NC in about an hour and a half.  Knoxville also has public bus service through KAT (Knoxville Area Transit).  The closest airport is McGee Tyson (TYS) located in south Knoxville near Alcoa, TN about a 15 minute drive from downtown Knoxville.  Hardin Valley is located off of the Pellissippi Parkway (TN-162) and is also part of the area for the proposed TDOT Knoxville Regional Parkway.

Maps

General map of Concord-Bluegrass

FARRAGUT Tennessee

"One of the best and affordable suburbs in the South, Farragut TN" - Business Week, May 2007.

Find Farragut Real Estate CLICK HERE

City Overview

Metro area: Knoxville
Nearest city with pop. 50,000-plus: Knoxville (10 miles)

Median Home Price: $272,700
Population: 19,027
Cost of Living Index: 102.9
Primary School Test Score Index: 131*
Violent Crime Index: 34
Percent pop. with commute <30 min.: 68%

Just to the west of Knoxville is the suburban community of Farragut, TN.  Farragut is an upscale residential community that boasts excellent schools, beautifully designed parks and greenways, great recreational opportunities and lovely residential Farragut homes.

History

The Town of Farragut was incorporated on January 16, 1980, with the first Board of Mayor and Aldermen elected on April 1, 1980. Controls on zoning, building codes and signage plus major improvements to roads are important aspects of the Town. A sincere commitment to these controls plus the development of parks, green space, pedestrian links and leisure opportunities make this community a great place to live and work. The Town is named after Admiral David Glasgow Farragut, the first admiral of the United States of America Navy, who was born in the Farragut area.

Housing

Farragut real estate includes mainly upscale single family homes, townhomes and a few apartments.  The starting price for Farragut real estate is around $150,000 and go up to over the $1 million mark.   The most common price range of single family homes in Farragut is between $200,000 and $300,000.  Farragut is home to the Turkey Creek shopping complex, located on Parkside Dr. between Lovell Rd. and Campbell Station.  The complex is a 300 acre space which contains retail shopping, medical facilities, a theatre, office space, banks, restaurants and hotels.  The future of Farragut is bright with growth continuing westward with the areas of Northshore/Choto still seeing high numbers of new construction.  A new high school is currently under construction in the Hardin Valley area which is scheduled for completion in 2008 and will be the second high school to accommodate Farragut residents. MORE INFORMATION or call 865-621-3658.

Schools

The Knox County School district serves Farragut homes and all of Knox County.  The schools that specifically serve Farragut homes are Farragut Primary, Farragut Elemtary, Farragut Middle, Farragut High and Hardin Valley High (2008).  There are also several private schools in Farragut: Farragut Montessori School, Kiddie Kottage Learning Center, Greenway School, St. John Neuman Catholic School.

Farragut schools are some of the highest rated schools in the country.  In 2006 and 2005, Farragut made the list of the top 5 percent of public high schools in the nation based on its AP program.

In September, 2007 Farragut High School had the most National Merit Semifinalists in the state tied only with White Station High School who each had 16 finalists.  Farragut had a total of 30 semifinalists and commended students, the largest number in the state.

Recreation

Farragut, TN is surrounded by parks, greenways and bodies of water.  Farragut public parks include Anchor Park (marine facilities, playgrounds and picnic areas on the shores of Lake Loudon), Major Bob Leonard Park (walking trails, soccer, softball fields and playgrounds), Campbell Station Park (library, playgrounds and walking trails), Concord Park Marina (boating facilities, picnic areas, boat launch, river sports, playgrounds, Yacht Club, boat docks), Cowan Park (playgrounds, picnic facilities, hiking trails, fishing piers, sprinkler park).

Transportation

The Knoxville are has an extensive highway system for a city this size.  Interstate 40 runs right through the center of Knoxville and connects with interstate 75.  I-75 south will take you to Chatanooga in an hour and a half and Atlanta in 3 hours.  I-75 north will take you to Lexington, Kentucky in about an hour and a half.  Traveling west on I-40 will get you to Nashville in about 2 hours.  Traveling east on I-40 will get you to Ashville, NC in about an hour and a half.  Knoxville also has public bus service through KAT (Knoxville Area Transit).  The closest airport is McGee Tyson (TYS) located in south Knoxville near Alcoa, TN about a 15 minute drive from downtown Knoxville.

Maps

General map of Farragut

Detailed map showing all Farragut streets and subdivisions

Search Farragut Homes for Sale CLICK HERE

This Month in Real Estate
April 2010

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Commentary

The economic recovery continues to slowly but steadily deepen its roots.  Consumer sentiment ticked up in March and it appears businesses are feeling more positive as well. According to a CEO Economic Outlook Survey, America's top CEOs are expecting an increase in sales, along with increased or stabilized capital spending and employment. 

Over the past several months, the hot topic of health care reform took much of Congress's attention.  Now, with the bill passed into law, the government is turning its attention to other matters to help bolster the economy including the job bill and financial reform.

High unemployment and elevated levels of foreclosures and distressed homeowners continue to be two of the biggest factors in preventing a robust recovery.  The government's attentive attitude toward these obstacles is seen as a positive sign by industry and economic experts.

The Housing Market

Existing Home Sales

Existing home sales softened in February. According to Lawrence Yun, NAR chief economist, the widespread winter storms during the month may have masked underlying demand as "buyers couldn't get out to look at homes in some areas and that should negatively impact near-term contract activity." February sales of 5.02 million remained 7 percent above the 4.69 million-units last year.

Median Home Price

The median price for an existing home was $165,100 in February, a 1.8 percent drop from February 2009. Distressed homes, which accounted for 35 percent of sales last month, continued to skew prices downward as they typically were discounted in comparison with non-distressed homes.

Inventory

Total housing inventory rose 9.5 percent to 3.59 million, representing an 8.6-month supply at the current sales pace. Compared to the previous year, there were 5.5 percent fewer homes on the market.

Mortgage Rates

Mortgage rates dipped to 4.99 percent in February from 5.03 percent in January. During the first week of April, rates crossed the 5 percent threshold but still remained near historically low levels. While the full effect of the Federal Reserve mortgage-backed securities purchase program's expiration at the end of March is yet to be seen, the Fed echoed its accommodating policy to support the economy.

Affordability

Affordability remains at record levels, supported by the lowest mortgage rates in decades, low home prices, and the first-time home buyer tax credit. The home price-to-income ratio continues to remain well below the historical average of 25 percent. The ratio now stands at 14.2 percent.

Sources: National Association of Realtors, Freddie Mac

Government Action

Mortgage Relief for Unemployed

Attempting to overhaul its foreclosure prevention program, the Obama administration took noteworthy steps to help the unemployed stay current on their mortgage through tough times.  

While the trouble in the housing market stemmed originally started with loose lending practices, high unemployment and underwater homeowners are now the major factors contributing to foreclosure. 

The program will now:

• Require lenders to "slash" payments for the unemployed for 3-6 months. In some cases, payments could be deferred entirely. 
• Cut payments to at least 31 percent of previous income, about the same amount that unemployment insurance pays.
• Become effective over the next 6 months.
• Not require new taxpayer funds.  The program has only used a
  small portion of its $75 billion allocation. 

Source: The Washington Post

                   Helping Underwater Homeowners

Underwater borrowers are one of the major driving forces behind foreclosure.  It's estimated that one in four homeowners owes more than their home is worth. Economists categorize these borrowers as "high risk" because they can't sell or refinance. 

The government is taking the following steps to address underwater borrowers:

1. Principal Reduction. Lenders will be asked to reduce the principal loan balance if it is 15 percent or greater than what the home is worth. This will only be available to borrowers who are current on their mortgage payments and they will need to stay current to "earn" the full reduction over three years. 
2. FHA Refinancing. The Federal Housing Administration (FHA) offers refinancing alternatives for borrowers who are underwater and offering incentives for lenders who reduce the principal on primary mortgages by at least 10 percent. 
3. Second Mortgages. The government will double the incentive amount paid to lenders who help modify second mortgages. Half of all troubled homeowners have second mortgages, which have been an obstacle in providing modifications.
4. Short Sales. Incentives to lenders who help troubled borrowers that don't qualify for the program, most commonly a short sale, have been increased. 

Source: The Washington Post

Topics For Buyers & Sellers

Energy Efficient Tax Tips

Three Things You Need to Know About Home Improvements to Help Slash Energy Bills and 2010 Taxes

1. Simple qualifying improvements include increasing insulation or insulating items such as door and windows, roofing, skylights, etc. These qualify for a 30 percent credit on the cost of the item, not installation,  up to a maximum credit cap of $1,500. 
2. Certain big-ticket items have no maximum credit cap. The credit is still 30 percent of the cost of the item. These items include furnace, air conditioning, tankless water heater, heat pump, geothermal system, solar or wind installation. 
3. It's a tax credit, not a deduction.  That means it reduces the actual taxes you owe, not your taxable income.  Use IRS Form 5695, and hang onto receipts and product labels.

Don't forget to check your state and local area for additional incentives.

For more info on the federal tax credit, check out: EnergyStar.gov and NAHB.org/efficiencytaxcredit.

Contact me,

your local real estate expert,

for information about what's going on in our area. 

Newsletter Contents

1. Commentary

2. The Housing Market

3. Government Action

4. Topics for Buyers
    and Sellers

For a more detailed report with additional graphs and government action, please see the This Month in Real Estate PowerPoint Report. 

In an effort to reduce the impact on the environment, This Month in Real Estate PowerPoint Report is now also available in email newsletter format.  Please consider the environment before printing.