In the past few months we have seen a lot of houses coming on the market in Fox Run.  Some questions that many homeowners often ask me are the following: are all these houses selling? How many days do they sit on the market? What is the closing price?

Good news is that a lot of houses are still selling in Fox Run. But it is a complicated process right now.

Recently, new listings start very overpriced and after a few months on the market, they are somewhat reduced. Sometimes, it takes a few iterations before the listings reach the true market price; that is, when they have a chance to finally sell. 

What this means is that the owners carry the cost of ownership for many months before the house sells and they end up loosing more money than they would, had they

priced the property right in the first place. However, pricing right does not mean discounting your property: you do not need an agent for that! I am a Fox Run resident. As such, it is in my interest to sell your house at its market price, definitely not below it. One wrong evaluation and from one day to the next we may have potentially lost $15,000 in home value just because another house was underpriced! Pricing your property right means striking a delicate balance between what buyers are willing to pay for their new home and returning the maximum in terms of investment to the seller. It takes good business practices and good analytical skills to determine the right price. I can help you price your house correctly so that we can sell it within an acceptable time frame with the maximum return to you.

Pricing, however, is not

all. Other factors contribute to our success.

There are rules that need to be kept in mind in order to achieve success:

- Price. We discussed this aspect already: you have to price it right.

- Accessibility. Buyers want to see their future home at their convenience, not yours. You need to give your agent the tools to "show it" easily, sometimes on moment's notice; the easier it is to show your house, the easier it is to find a buyer for it.

- Conditions. You have to make your house shine. Let your pride of homeownership show! In this crowded market, a house priced right will have a better chance of selling if it looks great.

In the past year (since March 1, 2008) a total of 27 houses sold in Fox Run.

• 5 houses sold on Fox Dale Lane

• 11 houses sold on Brochardt Blvd

• 3 houses sold on Comblain Road

• 2 houses sold on Stahl Drive

• 2 houses sold on Lebel Road

• 1 house sold in Ackley Circle

• 2 houses sold on Golden Fox Lane

• 1 house sold on Pepperwood Lane

- 18 of them sold at an average of 4.4% below asking price (this is actually not too bad)

- 3 sold at asking price

- 4 sold over asking price (a couple of them are new constructions with the addition of finished basement)

- 2 unknown at the moment

- Average closing price/sqft $102.37

- Average size 4,266 sqft.

- Average listing price $525,588.

- Average closing price $519,572

Presently, here is how it looks:

- 21 active listings as of 2/23/2008:

- Average days-on-market (DOM): 162 days (without considering the new constructions, because these will raise the

number of days on the market due to the fact that they are listed way before completion).

- Average asking price/sqft $123

- Average listing price $502,000.

In future newsletters I will compare Fox Run real estate to other subdivisions in our area and I will show you more market statistics, numbers and interesting specifics on the Fox Run real estate market. Our market.

I will also introduce you to Feng Shui and the correct way to present your home.

I moved to Knoxville two years ago with my family after living for about eleven years in California, in the San Francisco Bay Area. I started being interested in real estate when I was a teenager still living in Italy and I helped my parents with their real estate properties. However, after getting a business degree, I went on and got a Master's degree in Aerospace Engineering. When I moved to California, I had a full time job as Mechanical Engineer but I was spending every minute of my spare time, with my husband, to look at properties. I don't think we ever missed an open house in our area. That

was when we decided to buy, fix and sell and that worked really well for us.

I was so used to the frantic California real estate market (especially in the days of the boom), to the fast, hectic way of marketing, buying and selling, that when I came over here I was surprised on how slow and relaxed this market was, to the point that people were happy to sell their house in 4-6 months. This is when I decided it was worth for me to get a Tennessee real estate license and enter actively the market.

Since I got my license, I have been working part time, mostly helping

friends, because my main job was to be a mom, but now I am ready to start offering my help to the people that trust me and that want to sell their house in a faster and easier way.

I have a great marketing strategy and I offer my know-how and experience to my clients. I am looking forward to working with you on your next real estate transaction.