The good news is that our prices have held fairly stable in Chattanooga and if your home is priced right, detailed properly and presented correctly in our market it will sell.  The problem that we face is that many sellers base 2008/2009 values on what they perceived their property to be worth in 2005/2006.  Much of this perceived value was not necessarily tested unless the home was actually sold.  Often we all feel like our home is worth as much or more than the homes around us.  But we hit a peak in 2005/2006, it was a short peak that we backed off fairly quickly.  You may have a past appraisal at a certain price and now you're being told that your home is worth 5-10% less than that.  That can come as a blow - but keep in mind, you have not lost value since the 2005/2006 assessment was perceived value not actual value.  Actual value is always determined by the market and the market in Chattanooga remains strong.  Price right, stage right, do the detailing that is necessary and your home will sell in Chattanooga, Tennessee!

Jay Robinson

For more information about Chattanooga real estate and an analysis of our local market call us 423-304-6114 or e-mail info@robinsonteam.com.