Kaye Ivey of Keller Williams Realty said she is putting together one of the biggest open houses in recent Chattanooga history with about 80 homes in two neighborhoods open to the general public Sunday.
“In six years, this is the biggest one I’ve seen,” Ms. Ivey said. “We’ve got agents from every real estate company coming together for a purpose: we want our houses sold.”
About once a year, many of the agents in the Chattanooga area work to give a particular development a sales boost with an area-wide open house, said Mike Gentry, an agent with Prudential Realty.
“If we can get enough Realtors in the same neighborhood, we put them together and try to draw more people that way,” Mr. Gentry said. “If we put our resources together, we can create a little bit more excitement.”
This year’s Realtor rendezvous will take place in the Hamilton on Hunter and Hamilton on Hunter North neighborhoods, subdivisions that together contain close to 1,500 homes. The two neighborhoods could have 1,900 homes once the newer Hamilton on Hunter North is completed, according to Ms. Ivey.
“When things are not happening, I just have to figure out a way outside the box to draw attention,” she said.
Julian Bell, founder of Bell Development, began work on the Hamilton on Hunter development in 1986, he said. He added that “overbuilding isn’t an issue,” but with the expiration of the first-time homebuyer tax credit, the market is back to a “normal condition.”
“It will be a little harder, but we have to look at it realistically: the rates are lower now, the prices are at the same level or below as when the stimulus money was here, so if you have to pick a time to buy, this is probably one of the best,” Mr. Bell said.
Manuel Martinez, marketing and sales director for Bell Development, said they’re targeting out-of-town buyers who wish to move to Chattanooga.
“We’re very optimistic about the Volkswagen plant coming on board and people relocating here,” he said. “We already have a lot of VW couples who have relocated, and we have some executives staying in our rental properties.”
Prices on the homes range from $149,000 up to $250,000. Designed for first-time homebuyers who want more than a typical starter home provides, visitors can expect hardwood floors, granite countertops, sizable decks and other amenities, Mr. Martinez said.
The open house will be from 2 to 4 p.m. Sunday.