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Wallace Luxury Spotlight | 521 Augusta National Way Knoxville, TN 37922
Classic Elegance and Endless Potential at Fox Den
Located on the 8th hole of the highly coveted Fox Den subdivision, this charming home offers a unique opportunity for those seeking space, character, and a prime location. Brimming with potential, this home is ready for your personal touch to bring out its best features.
Step through the front door into a spacious foyer where you’ll immediately notice the stunning wooden stairwell—a focal point that sets the tone for the home’s timeless elegance. It’s the perfect introduction to the classic features that flow throughout the home.
The family room is a cozy gathering space, anchored by a gas brick fireplace that’s ideal for quiet evenings or lively get-togethers. The rich oak floors stretch across both the family room and the oversized dining room, adding warmth and a touch of sophistication to the home’s main living areas.
Adjacent to the family room, you’ll find a den that exudes rustic charm with its vaulted ceiling and wooden beams. The den flows effortlessly into the bright and sunlit kitchen, where you’ll appreciate the tile flooring, solid surface countertops, and newer stainless steel appliances. With a cozy breakfast nook, it’s the perfect spot for enjoying your morning coffee while overlooking the beautifully landscaped backyard.
Upstairs, the home offers four spacious bedrooms, each with plantation shutters that enhance the classic feel of the home. The Primary Bedroom includes a closet that leads to a walk-up attic, providing an additional 400 square feet of space—perfect for storage or as a future expansion opportunity.
One of the bedrooms is generously sized and could easily function as a rec room, home office, playroom, or exercise room, giving you the flexibility to adapt the home to your needs.
Once outside, you’ll experience the private backyard, where mature landscaping creates a serene and peaceful setting. The backyard’s patio area is perfect for outdoor entertaining or simply relaxing and enjoying the view of the golf course that backs up to your property.
In addition to the two-car garage, you’ll find a large attached area that’s perfect for a workshop or extra storage space, making this home as functional as it is charming.
With its prime location in the Fox Den subdivision and its picturesque setting on the 8th hole of the golf course, this home blends charm, space, and an unbeatable location. Whether you’re looking to move right in or make updates to suit your style, this home is a perfect canvas for your dream living space.
Don’t miss the chance to make this classic Fox Den home your own!
Listed by Margot Dunn – Wallace Real Estate – Click here for more information.
Wallace Luxury Spotlight | 170 Bayview Drive Ten Mile, TN 37880
Wallace Luxury Spotlight | 449 Hickory Pointe Lane Maynardville, TN 37807
Lake Life Awaits at Hickory Pointe on Norris Lake: A Perfect Blend of Luxury, Tranquility, and Functionality
Are you ready to experience resort-style living year-round? Nestled on a 1.57-acre private wooded lot, this custom-built two-story home in Hickory Pointe offers the best of lake life, combining quality craftsmanship, thoughtful design, and peaceful surroundings. Whether you’re looking for a weekend retreat or your forever home, this property is a true gem.
As you enter through the front door, you’ll immediately be captivated by the open floor plan, soaring ceilings, and large windows that create an inviting space filled with natural light. The extensive windows make it feel as if you’re immersed in nature, with stunning views of the wooded, park-like setting all around you.
The heart of the home is the chef-style kitchen, equipped with granite countertops and stainless-steel appliances that convey with the property. The versatile layout opens to two separate rooms—one perfect for a formal living room and the other for dining. Cozy up by the wood-burning fireplace in one of these spaces on those cool lake evenings.
If you love to entertain, this home is the perfect place for holidays and special occasions. The spacious Primary Bedroom is conveniently located on the main level, featuring elegant trey ceilings and an abundance of natural light. The luxurious Primary Bath boasts double vanities, a custom tiled walk-in shower, and a jetted soaker tub, offering a true retreat for relaxation. The enormous Primary Closet includes wrap-around shelving, with a dedicated shoe section for those who need space for their collection.
Also on the main level, you’ll find a laundry room, a half-bath, and direct access to your two-car garage, making everyday living as convenient as possible.
Head upstairs, and you’ll find two spacious Jack-and-Jill bedrooms, both with walk-in closets and connecting to a full bath with separate vanities—ideal for kids or guests. There’s also a large bonus room upstairs with additional storage and a hardwired CAT6 internet system throughout the home. Whether you’re working from home or indulging in your favorite online activities, you’ll never have to worry about slow speeds.
The serene outdoor space is perfect for morning coffee or evening relaxation. With ample shade trees and a tranquil setting, the large patio area provides a quiet escape into nature. The 1.57-acre lot is a true oasis for those who enjoy peace, quiet, and the beauty of the outdoors.
Living in Hickory Pointe means more than just a beautiful home. With a well-maintained HOA and low dues of only $41.66 per month ($500/year), you’ll have access to fantastic amenities. Enjoy the community pool, clubhouse with billiards and weight room, boat launch, and even a trolley that takes you to the water. You’ll also have a chance to enter a lottery for a boat slip at no additional cost.
For those who love to rent out their homes, short-term rentals are allowed, though renters cannot use the amenities. RV parking is permitted, but no prefab storage buildings or livestock are allowed, keeping the community pristine.
Located in a prime spot on Norris Lake, this home is just 10 minutes from local marinas, including Beach Island Resort & Marina, Cedar Grove Marina, and Hickory Star Resort & Marina. You’re also conveniently close to public boat launches, schools, and shopping. North Knoxville is only 15 miles away, while Dollywood and Gatlinburg are within a 45-mile drive.
This home is truly one of a kind, combining luxury, function, and the natural beauty of lake living. Whether you’re enjoying the amenities of the Hickory Pointe community or relaxing in your custom-built retreat, life here is truly exceptional. Don’t miss your opportunity to own a piece of paradise on Norris Lake.
Presented by Jessica Nirmaier – Wallace Real Estate – Click here for more information.
The Importance of Knowing Your Neighbors
<section itemprop=”articleBody” class=”e-content”><div class=”blogContentWrapper”><p><img alt=”” src=”https://d15zjc2r4e8kr7.cloudfront.net/9302/blog/Moxi%20Blog%20Images%20(900%20x%20500%20px)%20(66).png” style=”margin: 10px; width: 600px; height: 333px;” class=”featured”></p> <p>“Won’t you be my neighbor?” sang Mr. Rogers every day on the PBS program, Mr. Rogers’ Neighborhood. Along the same lines, from Sesame Street, is the song, Who are the People in your Neighborhood?, a happy song about meeting your neighbors. According to dictionary.com, the word, neighborly means, “characteristic of a good neighbor, especially helpful, friendly or kind.” There’s Neighborhood Watch, which is a program where members of a neighborhood agree to work together to help keep the neighborhood safe. And Friendly Neighborhood Spiderman is, of course, your friendly neighborhood Spiderman.</p> <p>This year, I attended a luncheon put on by Leadership Knoxville, celebrating leaders in our area who have recently gone through a year-long program learning about our city in a variety of ways. One of the speakers challenged us to get to know our neighbors better to bring about a greater sense of community and foster civility. To do this, we were presented with a grid of three squares going across, and three going down, much like a tic-tac-toe board. The middle square marked our own home.</p> <p>The challenge included physically knocking on the doors of the homes of our neighbors in front of us, behind us, on both sides, and diagonally in all directions, and get to know the people in those households. The hope is that we’d have better relationships and understanding with eight more families than we may have had before. Then, to keep the relationship going, we were instructed to write our neighbors’ names in the squares around our house and put it on the refrigerator. Then, call our neighbors by name when we see them. Check in on them from time to time. Be “neighborly.”</p> <p>I usually wave to my neighbors when they are out with their dogs or working in their yard. The neighbor around the corner organizes get-togethers about twice a year and sends helpful emails with neighborhood information. I know the names of the neighbor’s dogs across the street. The neighbor up the street goes to our church so we see them occasionally there. Now I’m Facebook friends with some former neighbors. But I must admit that I do not know much about all the people who go about their lives just a few yards away from me.</p> <p>Do you know your neighbors? They say that good fences make good neighbors, but are you willing to open the gate to that fence and help establish a greater sense of community in your corner of the world? </p> <section itemprop=”articleBody”> <p paraeid=”{279cb7ac-7321-4039-9619-39f6b175de1b}{118}” paraid=”1241859221″><em>*This article was reprinted with permission from the Knoxville News Sentinel in 2024.</em></p> </section> </div><div class=”clearfix”></div><div class=”clearfix”></div></section>
August 2024 Real Estate Market Update: What You Need to Know
As summer winds down, the real estate market in our area shows a mix of familiar patterns and evolving trends. Here’s a detailed look at the latest market statistics for August 2024.
New Listings
In August, the number of new listings closely matched figures from 2019 and 2021. This consistency indicates a balanced market where sellers weigh the benefits of selling—such as recent home equity gains—against the costs of purchasing a new property, including higher interest rates. Despite the higher costs associated with buying, sellers who have owned their homes for several years are still realizing significant returns.
Active Listings
Inventory levels are comparable to 2019, but the market feels more robust due to the past years’ scarcity of listings. Since January, we’ve seen a steady increase in active listings, offering buyers more choices. This uptick is a positive change from the extremely competitive conditions of 2021, though we’re still within normal market ranges.
Sales Pending
The number of homes going under contract in August was higher compared to last year, reflecting a rebound from the slower pace seen when interest rates peaked. This increase suggests that despite a less frenetic pace than during the height of the pandemic, buyer activity remains strong.
Closed Units
The volume of closed units in August matches last year’s figures, maintaining a steady pace throughout 2024. While sales aren’t moving as quickly as they did from 2020 to 2022, the market remains active, with homes selling at a more measured rate.
Months of Supply
The months of supply has remained relatively stable since June, showing a higher level than in previous Augusts. Currently, we have just under a 5-month supply of homes, indicating a slight seller’s advantage. A balanced market typically has 6-9 months of supply, so sellers still enjoy some leverage, although the market is not as skewed as it was in the past few years.
Median Sales Price
August’s median sales price reached an all-time high of $365,000. While this figure represents a peak for August, it did see a slight dip from July, possibly due to the seasonal slowdown as the school year begins and activity typically slows.
Average Days on Market
The average days on market is currently around 38 days. While this seems slower compared to the breakneck pace of recent years, it remains in line with other strong years in real estate. Homes are still selling relatively quickly, though not as rapidly as during the market’s peak.
Conclusion
Understanding the current market trends can help both buyers and sellers make informed decisions. If you have any questions about these statistics or need personalized advice, don’t hesitate to reach out to your trusted Wallace Real Estate agent. We’re here to provide expert guidance and help you navigate the market effectively.
*Stats provided with permission from the East Tennessee Realtors Multiple Listing Service. As reported by Claudia Stallings, Wallace Real Estate COO.
Is Fall a Good Time to Buy or Sell a Home in East Tennessee?
As the leaves begin to change and the temperatures cool, many people start to wonder if fall is a good time to make a move in the real estate market. While spring and summer tend to be peak seasons, fall brings its own set of advantages for both buyers and sellers—especially here in beautiful East Tennessee.
Why Sell in the Fall?
Less Competition – One of the biggest advantages of listing your home in the fall is that there’s typically less competition compared to the bustling spring and summer markets. Many homes that were on the market over the summer may have already sold, leaving fewer options for buyers. This can make your property stand out more easily and draw serious offers from motivated buyers.
East Tennessee’s Natural Appeal – East Tennessee is known for its stunning fall foliage, which can significantly boost curb appeal. A well-maintained home framed by vibrant autumn colors creates a picturesque setting that can attract buyers who want to experience the beauty of the region firsthand. Highlighting features like outdoor spaces, fire pits, and cozy interiors can also play into the fall theme, making your home feel more inviting during tours.
Serious Buyers – Buyers in the fall are often more serious. Many are looking to close before the holidays or even by the end of the year for tax purposes. The fall buyer pool may be smaller, but the people who are shopping now tend to be more motivated, leading to faster and smoother transactions.
Why Buy in the Fall? –
Favorable Prices and Negotiations – Fall can also be a good time to buy a home in East Tennessee due to potential pricing advantages. Sellers who haven’t yet sold their homes may be more flexible in negotiations as the season winds down. There may be more room for negotiation, especially if a seller is eager to close before the winter months.
Weather Ideal for House Hunting – East Tennessee’s mild fall weather makes house hunting a more pleasant experience. The cooler temperatures allow buyers to tour homes comfortably without the sweltering summer heat or the unpredictability of winter weather.
End-of-Year Tax Advantages – Purchasing a home in the fall may also offers financial benefits. Closing on a home before the end of the year can offer tax advantages such as deductions for mortgage interest, property taxes, and loan points. This can be a significant factor for buyers looking to maximize their tax savings.
Considerations for the East Tennessee Market
Local Market Conditions – East Tennessee’s real estate market is unique in that it tends to remain strong even in the fall. The region has become increasingly popular, with more people moving to cities like Knoxville and neighboring Chattanooga, as well as some of our more remote areas around the Smoky Mountains. While there may be fewer homes on the market, demand remains steady, making it a good time for both buyers and sellers to act.
Seasonal Preparation – Sellers should be mindful of maintaining their homes as the season changes. Simple tasks like raking leaves, cleaning gutters, and ensuring that outdoor lighting works well can make a significant difference in how a home is perceived. Inside, staging with fall-themed décor can enhance the home’s warmth and charm, making it more appealing to potential buyers.
In East Tennessee, fall presents unique opportunities for both buyers and sellers. Whether you’re looking to take advantage of the stunning natural backdrop or simply seeking a quieter, more focused market, this time of year could be the perfect opportunity to make your move. With the right strategy and the help of a local expert real estate agent, you can navigate the real estate market with confidence.
