West Knoxville contemp's

[Thern Newbell]

This is for the Knoxville guys. I've got a contemporary home in the Cedar Bluff area that I am appraising. The majority of the living area is below grade (i.e. kitchen, living room, dining room, etc, Sleeping zone is completely above grade). There is an identical home that I found in a competing development, but it last sold in 2002/2003. The subject last sold in 1999. In both cases, the properties sold within the typical range of values within the respective subdivisions, but obviously market conditions have changed of late. Are any of you aware of any properties that have sold that are similar to this description in the West Knoxville area (Karns and Cumberland Estates area are okay, too)? I haven't had much luck finding anything recent that has sold. I am sure that you know that the challenge is that our local agents will list the below grade areas on the MLS as GLA/above grade living areas.

 

[TN Pro]

Thern, i have not done one of these in West Knoxville, but have in Claiborne County. A least you have two sales, although dated, that suggest when they did sell, they sold within the typical market range.
There are several Realtors that are heavy hitters in the West Knoxville market, you may want to contact them to see if they know of any recent sales.

Dean

 

[RSW]

I can't think of any right off hand. I have only appraised two homes in all of the areas that I work in that meet your description. What a nightmare.

 

[Lee Lansford]

... The majority of the living area is below grade (i.e. kitchen, living room, dining room, etc, Sleeping zone is completely above grade). There is an identical home that I found in a competing development, but it last sold in 2002/2003. The subject last sold in 1999. In both cases, the properties sold within the typical range of values within the respective subdivisions...

Those two sales will provide you with the starting point for your further analysis as to how these properties relate (value-wise) to other housing in the neighborhood that are more traditional in design and GLA.

 

[Thern Newbell]

Those two sales will provide you with the starting point for your further analysis as to how these properties relate (value-wise) to other housing in the neighborhood that are more traditional in design and GLA.

I couldn't find any current data, but used those dated sales as part of the analysis in the text of my report.

Thanks to everyone for your responses.