Search for Chattanooga Cabins For Sale
Whether you a looking for log cabin or chalet for a weekend getaway or a luxurious estate style log home, you can find it using our user friendly home search. If you think that you are more inclined to build a log home, let one of our experience agents help put you in touch with a quality contractor so you know that your investment will be properly constructed.
Purchasing a Cabin in Chattanooga
Buying a cabin can be similar to a more conventional home in a lot of ways, but also has its own set of considerations that you will need to ponder.
View:
Just like a typical home a cabin with a view, provided everything else is equal will be more expensive. However unlike all brick homes, most buyers searching for cabins expect some sort of view. The most common are (from least to more expensive) a preserve view, a seasonal or year round mountain view, a season or year round lake view, or a lakefront cabin. Because most buyers are looking for a view from their cabin, it is highly recommended that you purchase your investment accordingly. It is difficult to say with any accuracy which will of these will grow in demand compared to the others, but a merely as factor of value the more expensive cabin will go up in value faster. For example, if a $150,000 and a $200,000 cabin both appreciate at an equal rate of 5% per year the more expensive cabin will go up in value faster. After 5 years the $150,000 cabin would be worth $191,442 and the $200,000 would be worth $255,256. While they both appreciated at a rate of 27.6%, the $200,000 went up in value by $13,814 more than did the less expensive cabin.
Construction Type:
Cabins will also vary in price due to their construction type. The cost of which can will also vary in cost due to the size of the home vs. its type of construction and can be somewhat difficult to assess if you are not familiar with the construction process which is why we recommend that you work with an experienced Realtor to guide you through the process. However the following is a short list of cabin construction types listed by cost:
Lowest to Highest
1. Frame home with Hardy siding, a concrete board used to mimic actual wood (painted). While it using siding is usually mixed with another type such as stone or wood siding, a home built with mostly siding is usually less expensive.
2. Frame build with log siding. The siding is actually cut from a log usually 2 inches thick and used to mimic a real log cabin. The non-notched corners will be the indicator if you do not notice it by the naked eye.
3. Log home. Not much beat a traditional log home for the warmth and coziness of a cabin.
4. A log home mixed with significant stone work.
5. A cobble stone chalet or cabin. These are not as common but are quite expensive but very attractive and desirable homes.
Search for Chattanooga Propery
Use the following property finder to search all available property types in the Chattanooga real estate market. Once you have selected all of your criteria, save your search and receive the latest listings that meet your search preferences in your inbox the day they hit the market.
Chattanooga Property Market
The overall market in the Chattanooga Area is doing quite well with regular home sales and moderately increasing property values across the board. No matter whether you are looking for Chattanooga homes, land, condos, farms, or a commercial property, nearly all sectors or the housing market are steady and all indicators for future sales show positive signs of improvement. This includes a strong local economy, appreciating home values, steady demand, and a diminishing overage in the supply of practically all property types. With still record low interest rates and stable market conditions it is one of the best times in recent history to invest in the Chattanooga property market and/or make a move to the greater Chattanooga metropolitan area.
Search for Land for Sale in Chattanooga, Tennessee
The use the search below to find all available land listing currently for sale in the Greater Chattanooga Area including lots, farms, commercial properties, and homes with land. You can use the advanced search options to narrow your search by land type, size, view, and price range.
The Chattanooga Land Market
The real estate market in Chattanooga is currently quite steady rivaling just about any other metro market in the Southeastern United States. Although as a general rule in any market the actual land market including lots can be more volatile than the market as a whole. However sale prices of land over the last 24 month have remained strong and have been steadily increasing namely due to the drive of the market as a whole including increased production in the new home construction industry. As neighboring property values increase as well as the decrease of availability of prime land in the area dwindles, the future of land sales in the area seems to be bright. If you questions regarding your land needs, or would like one of our top agents to help refine an automated search for you, please contact us for assistance.
Search for Chattanooga Foreclosed Homes
Buying and fixing up a foreclosed home can be one of the most financial and personally rewarding experiences, but also can be quite stressful if you are not clear about what you are getting yourself into. Use our lightning fast and daily updated MLS search to help you find that perfect real estate investment.
Foreclosed Homes Considerations in Chattanooga
Property Condition
1. How long has the property been vacant?
– Determining this can have a significant impact on the number of issues with the home including frozen water pipes, issues with heating due to stale gas lines, possibility of mold, ect.
2. Items missing:
– Commonly disgruntled owners will remove cabinet knobs, A/C vents, window treatments, ect.
3. Damaged items:
– If a home has been vacant for a while, you may have issues with vandals or in some rare cases homeowners that are frustrated that they are loosing their home take it out on the property.
4. Landscaping:
– In the majority of foreclosed homes, the landscaping and yards have been neglected. While many are mowed periodically, contractors realize that the home is vacant and even told to simply knock down the overgrown grass to avoid code violations for the bank.
Assessing Needed Repairs
Nearly all issues with any property can be overcome if they are known before closing. Provided you know of the repairs needed you can adjust your offering price or repairs completed before closing. In most instances banks will not repair other than what is necessary for the home to be financable. This is why a very thorough home inspection needs to be done to determine exactly what will need to be done to get the property up to your standards. It is highly recommended that buyers work with a licensed real estate agent to help buyers assess cosmetic repairs, provide rough estimates of repairs, estimate value after repair, and recommend reputable contractors.
Search All Chattanooga Lofts
Downtown Chattanooga is a great area for lofts and loft-style condos. The majority of Chattanooga’s downtown area is overlooking or within a close proximity of the scenic Tennessee River. In addition there are a number of waterfront city parks for a leisurely stroll or for walking your pets such as Renaissance and Coolidge Parks.
What is a loft?
Traditionally lofts are located on top of a commercial building such as downtown shop or small business. However many people now consider a loft to be more of an open style condo where the floor plan is open and airy with as few walls as possible. That being said, their are a very limited number of true lofts in any downtown area but because of their popularity many developers have designed their condos to resemble lofts. Either way the open style living is great design for practically anyone wanting maintenance free living.
Why Chattanooga?
The housing market for both condos and traditional single family homes for sale in Chattanooga TN is perhaps one of the most steady and stable of an metro area in the Southeast and for good reason. Chattanooga offers homesites with both incredible mountain views and views of two beautiful and clear lakes. In addition there is a host of historical sites, outdoor activities, and local attractions to keep you busy. Also the greater metro area is conveniently located along I75 and I24 offering easy access to other major cities.
Search for Retirement Communities in Chattanooga, Tennessee
There are numerous places all over the country that you could retire, so why would you want to consider Chattanooga?
Reasons to Consider Chattanooga Active Adult Communities
1. Climate:
Chattanooga has a very mild climate all year long which includes very few sweltering days of summer and only a few days of harsh winter and snow. Unlike other retirement destinations such as much of Florida that offer lovely winters but an unbearable and unending summer.
2. Location:
Chattanooga is centrally located in the Southeastern states and is just a short day trip to other major metro area including Nashville, Atlanta, Knoxville, Birmingham, and Huntsville. Chattanooga offers easy access for travel located along I24 and I75.
3. Activities:
If you every need a break from the easy life of gazing at the lovely Appalachian Mountains and relaxing in your bubbly hot tub, then their is a host of things to do in and around the Chattanooga area. You could visit historic sites such as Lookout Mountain or Signal Mountain, take a trip to Ruby Falls, ride the Chattanooga Choo Choo go whitewater rafting on the Ocoee River, or go boating on beautiful Lake Chickamauga or Nickajack Lake. If your up for a short day trip, you could visit the majestic Fall Creek Falls or Burgess Falls, drive the lovely Blue Ridge Parkway, go to a Braves games, or visit Music City.
4. The Market:
Lets assume that you are not 100% sure where you want to retire or like many foresee that what you’re looking for may be different in 5-10 years, then you definitely would want to choose a market such as Chattanooga that has shown stability and appreciation over the past years and never saw a dramatic down tick in values as some areas. We all know that the market moves in cycles but a volatile market may make it difficult to sell your retirement home without taking a hit.
Search for All Mountain View Homes in Chattanooga
If you are looking for a mountain view home or getaway East of the Mississippi River, then their is not a better place than East Tennessee. Between super low property taxes, no state income taxes, and a very convenient location for businesses (I24 and I75), Chattanooga is city primed for growth.
Why buy a Chattanooga Mountain View Home
It should almost go without saying but gazing out over your stunning mystic mountain view from the back porch is without a doubt heads and tails better than looking at your your neighbors house or the inside of your fence. Let you cares drift away and have your home be a peaceful retreat from your busy everyday life. Why not come home every night to a home that you’re in love with as opposed one where your neighbors are right on top of you. What is maybe even better than that is mountain view Chattanooga homes are almost always in demand and appreciate faster that basically everything but an ocean or lake view and are typically a fraction of the cost. Consider purchasing a mountain view home in the Chattanooga area as it might be one of the best and surefire investments you’ll ever make.
Refinancing Your Chattanooga Home
If you are considering refinancing there are a few cost and considerations that you will want to consider.
1. Closing cost charged by the Lender
Typical fees charged by lenders include an application fee, processing fee, closing fee, MERS, credit report, and possibly a few others. A typical cost is between $1000-$1350.
– Note some lenders may charge and origination fee or discount point which are basically the same thing. Be warned that these are unnecessary fee charged to you to make their rate appear better than it really is. Typical cost are between 0.5% to 2.0%+ of the loan amount which is a major cost. Having all lenders provide a quote without either of these fees will make comparing them easier. Buying a point to lowering your rate may make sense if it is cheap enough. Typically 1 discount point cost 1.0% of the loan amount and lowers the rate 0.125% which will take 139 months to make up that cost. However if you can buy a point for say half of that or 0.5% it may make sense if you plan on being in the home for more than 6 years.
2. Appraisal Cost
The fee charged for an appraisal will vary depending on the type of loan but are now, due to recent mortgage regulations, generally the same from lender to lender as almost all are required to use a appraisal management company so to not influence the appraisal.
FHA, VA, THDA, USDA – $450
Conventional – $400
Streamline with out appraisal – $0 (FHA, VA, and Conventional)
– A streamline loan will require your file to be run through automated underwriting and receive and approve/eligible with appraisal exemption. This will vary depending on your credit, debt to income, and if your property shows up in the applicable database (FHA, VA or Fannie Mae or Freddie Mac for conventional loans). It may also depend on when your home was securitized and sold to one of these agencies.
Streamline with appraisal – $250 (Drive By) or same as above (Full)
– A streamline with appraisal will either require a full appraisal or a drive by appraisal to basically ensure that the home is standing.
3. Title Cost
Most title companies will charge a closing fee which will include a title search fee which is typically between $400-$500. Title companies also must charge a title insurance (lenders and owners tile both paid by borrower) which can vary from county to county but are usually between $450-$750 per $100,000.
4. Prepaid Taxes and Insurance Escrows
These cost are included in the settlement but are really not a a cost of the refinance meaning you would have to pay these cost anyway. Also what ever is in your current escrow account will be refunded to you with in 30 days of closing by law. To determine your estimated prepaid items multiply your monthly taxes and insurance cost by the number of months till taxes are due plus 2 months (expect between 4 months minimum to 14 months). If you are closing near the end of the year expect to pay at least 12 months as most lenders pay the taxes on December 1st.
– Note if you do not currently escrow your taxes and insurance, you will not get a refund. Also if you have more than 20% equity you may not be required to escrow, but expect to pay a 0.25% premium for not escrowing taxes and insurance on your new loan.
Search Chattanooga Rent To Own Homes
If you are considering doing rent to own, there are a few things that you need to consider before hand.
1. Is a lease purchase better for me or the seller?
In most cases, sellers who are willing to do a rent to own scenario are typically having a hard time selling their home otherwise they would just sell it outright. This is typically due to the fact that they are over priced. However in a booming market a lease purchase can work out to the benefit of the buyer if the seller will lock in on a price. Basically you can buy a overpriced home today but it may be lower than that what values may be in a couple of years.
2. Why are you considering a lease to purchase?
In most cases renter/buyers are considering this type of arrangement because they either lack the credit to obtain a loan, do not have adequate savings for a down payment, or they do not feel that they have been at their current company for long enough.
Considering Chattanooga Lease Purchases?
Reasons to Rent to Own
A- If you are not credit worthy now, there is no guarantee that you will be able to obtain a mortgage when the option of the lease comes due. This means that any deposit may be forfeited to the current owners and they can sell the home from underneath you. This is really not a good reason to consider a lease purchase. Current credit limits are 620. There are also a couple programs that may allow you to go lower, pending other criteria. Also if you are close to a 620, our lending partners can help you raise your score. If your credit is below a 500, you should probably consider Chattanooga houses for rent and speaking to a mortgage consultant on how to best prepare yourself to own in the years to come.
B- This is an acceptable reason for considering a rent to own and is actually the rational behind how this type of purchase started. However in today’s market, there are several ways to purchase a home will very little to no money down including USDA and THDA loan products to name a few. In fact, you’re upfront cost would likely be less than doing a lease purchase.
C- If you have only been at your position for a month or so, you may need to establish yourself before obtaining a mortgage. This will vary on the type of work you do (W2 vs. 1099), if it is full time, and if you’ve had any breaks in employment or change in industry. In most cases if you have new job as full time W2 employee in a similar position as your prior job or your fresh out of college and have not had a significant break in employment, you should be able to obtain a loan, pending credit.
Search Chattanooga Bank Owned Homes
Bank owned homes in the Chattanooga Area are usually a great buy and are not really anymore hassle than a typical resale home. Unlike a short sale, a bank owned home can be purchased with in a reasonable amount of time, 30-60 days. These homes have usually been somewhat neglected which can vary greatly from minor to major repairs, but for the savvy investor or home buyer these usually cosmetic issues with the home can be fixed for a significant amount less than the discount from the homes true value.
Buying a Bank Owned Home
Though the process itself is not much different than a typical home purchase there are a few things you need to remember.
1. A home inspection of a bank owned home is a must. If the inspector you chose offers a premium package I would do it as you really want the property to be inspected thoroughly. Even if the home looks good, any home that sits empty for a period of time can develop some expensive issues that need to be addressed such as stale gas lines, mold, A/C problems, busted water lines, ect. most of which can be fixed but you want to build the cost of the repairs into your offer.
2. As with any distressed or neglected property, you really should work with agent and their are some really great Chattanooga Realtors choose from. The major concern is the state of the home, the estimated value of the home after improvements, and the cost of any remodeling. In most cases because you’re emotionally involved or attached, most buyers grossly over estimate the improved value and/or underestimate the repairs. Bank are going to pay the same commission whether you use their agent or your own buyer’s agent, so you might as well have an agent you know is on your side.