Knoxville Real Estate BlogRecently posted or modified blog postshttps://www.knoxvillehomestennessee.com/blog/Copyright KnoxvilleHomesTennessee.com2021-01-07T10:07:35-07:00tag:knoxvillehomestennessee.com,2012-09-20:3340Knoxville Real Estate Market Update- December 2020<img src="https://assets.site-static.com/userfiles/829/image/Knoxville_Real_Estate_Market_Update.jpg" width="800" height="800" alt="Knoxville Real Estate Market Update December 2020" />2021-01-07T10:01:00-07:002021-01-07T10:07:35-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2408Americans’ Powerful Belief in Homeownership as an InvestmentAmericans’ Powerful Belief in Homeownership as an Investment
<img width="750" height="410" src="https://files.mykcm.com/2019/07/04101604/20190711-Share-KCM.jpg" class="attachment-entry size-entry wp-post-image" alt="Americans' Powerful Belief in Homeownership as an Investment | MyKCM" srcset="https://files.mykcm.com/2019/07/04101604/20190711-Share-KCM.jpg 750w, https://files.mykcm.com/2019/07/04101604/20190711-Share-KCM-600x328.jpg 600w, https://files.mykcm.com/2019/07/04101604/20190711-Share-KCM-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
The Federal Reserve Bank (The Fed) recently released their <a href="https://www.newyorkfed.org/microeconomics/sce/housing#main" title="2019&nbsp; Survey of Consumer Expectations Housing Survey" target="_blank" rel="noopener noreferrer">2019 Survey of Consumer Expectations Housing Survey</a>. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.<a href="https://files.simplifyingthemarket.com/2019/07/04101659/20190711-MEM.jpg?a=451784-f3e675b5122757a3913a3d1368882dec" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-86482" src="https://files.mykcm.com/2019/07/04101659/20190711-MEM.jpg" alt="Americans' Powerful Belief in Homeownership as an Investment | MyKCM" width="600" height="450" /></a>The Fed’s survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment.
This coincides with a recent <a href="https://www.simplifyingthemarket.com/2019/05/23/4-most-popular-bottom-line-investments-in-america/?a=451784-f3e675b5122757a3913a3d1368882dec" title="Gallup survey" target="_blank" rel="noopener noreferrer">Gallup survey</a> of Americans which revealed that real estate was their number one choice for the best long-term investment when compared to stocks, savings accounts or gold.
Bottom Line
Americans' belief in residential real estate as a good financial investment continues to grow as the housing market returns to normalcy.<br /><br />Check out All Homes currently for sale in the Greater Knoxville TN Area Below- Please Check Back often as this list updates and changes in real time.
2019-07-12T15:04:00-07:002019-07-12T15:11:30-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2407Homes For Sale in Knoxville with Swimming Pools <img src="https://assets.site-static.com/userfiles/829/image/Homes_FOr_Sale_with_Swimming_Pools.png" width="560" height="315" alt="Homes for Sale in Knoxville with Swimming Pools " title="Swimming Pool Homes for sale in knoxville tn " />
Splish Splash! Nothing says "Summer Fun" more than a backyard swimming pool. A backyard swimming pool turns your home into a vacation and creates the perfect atmosphere for entertaining, gatherings with friends, or simply a quiet private oasis.
If you are looking for a home for sale in Knoxville TN with a swimming pool you have come to the right place. Here is the most current list of homes for sale in Knoxville TN with a swimming pool. Be sure to bookmark this page and check back often as the list of swimming pool homes for sale in Knoxville TN refreshes in real time.
2019-07-12T13:30:00-07:002019-07-12T14:31:40-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2231 The KonMari Method: Helping You Prep Your Knoxville Area House For Sale
The KonMari Method: Helping You Prep Your House For Sale
One of the biggest challenges sellers face when listing their Knoxville area house is decluttering. Cleaning out some of the more personal decorating choices allows buyers to imagine themselves living in the house.
<img src="https://assets.site-static.com/userfiles/829/image/Clean_Closet_Blog_Image.jpg" width="750" height="410" alt="Prepping Your Knoxville Home For Sale" title="Prepping Your Knoxville Home For Sale " />
Those planning to sell soon are in luck! Marie Kondo, the inventor of the <a href="https://konmari.com/pages/about" title="KonMari Method" target="_blank" rel="noopener noreferrer">KonMari Method</a> of Tidying Up, has gained popularity with her new <a href="https://konmari.com/pages/netflix" title="Netflix" target="_blank" rel="noopener noreferrer">Netflix</a> series. She gives some great tips for sorting through years of accumulated possessions that we all collect in our homes.
“The KonMari Method™ encourages tidying by category – not by location – beginning with clothes, then moving on to books, papers, komono (miscellaneous items), and, finally, sentimental items. Keep only those things that speak to the heart, and discard items that no longer spark joy. Thank them for their service – then let them go.”
When you subjectively look at all of your belongings, you can sort through the ones that mean the most to you. Not only will you increase space for more joy-bringing items in your new home, but you will also have a much easier time packing remaining belongings!
“Remember, tidying up isn’t about getting rid of stuff. It is about creating an environment that sparks joy and improves your quality of life.”
When selling your house, first impressions matter! Before you or your agent schedule a photographer to take photos for your listing, make sure to tour your home with fresh eyes. Look for any imperfections that a buyer might notice.
When you sort through your more sentimental items, consider packing them away to ensure that you know where they all are. That way, they are safe during open houses and showing appointments. This will also cut down on the amount of packing you need to do right before you move!
Bottom Line
Whether you are selling your house to move up to a larger one, downsizing, or moving in with family, only bring the items that truly spark joy for you. This will not only help cut down on the items you move but also ensures that you’re off to a great start in your new home!
The McInerney Team with Great Life RE brokered by eXp Realty has sold hundreds of homes over the past 12 years and offers a staging consult with every home we list. Our team will walk through the home with you and provide a detailed analysis of what needs to be done to get your home in tip-top shape.
2019-02-10T10:17:00-07:002019-02-10T10:29:14-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2230New Construction For Sale in the Knoxville TN Area New Construction For Sale in the Knoxville TN Area
<img src="https://assets.site-static.com/userfiles/829/image/New_Construction.png" width="560" height="315" alt="New Construction for sale in Knoxville TN" title="New Construction for sale in Knoxville TN" />
There is not much more exciting than being the first owner of a brand new home. The McInerney Team with Great Life RE brokered by eXp Realty are Knoxville New Home Construction Experts and are available to assist you with all your new construction needs. <br />
Many Buyers are not aware that the sales agents that you find sitting in the model homes are employed by the builder and are under contract to represent the Builder's best interests, not yours as the Home Buyer. Therefore, employing a Designated Buyer's Agent is critical in ensuring you are fully represented.
Our Buyer Agent services are completely FREE to you as the Buyer. Contact us today to see how you can get us on your side and you into your new home.
Below is a list of new construction homes for sale in the Greater Knoxville area including, but not limited to: new construction for sale in Knoxville TN, new construction for sale in Maryville TN, new construction for sale in Lenoir City TN, new construction for sale in Oak Ridge TN, and new construction for sale in Sevierville TN.<br />
<img src="https://assets.site-static.com/userfiles/829/image/Knoxville%20New%20Construction%20For%20Sale.png" alt="Knoxville TN New Construction" title="Knoxville TN New Construction" />
2019-02-10T09:51:00-07:002019-07-12T14:55:17-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2229Are You Thinking About Buying a Home?Are You Thinking of Buying a home in the Knoxville, Maryville, Lenoir City, or Oak Ridge Area?
The process of buying a home can be overwhelming at times, but you don’t need to go through it alone.
<img src="https://assets.site-static.com/userfiles/829/image/Screen_Shot_2019-02-10_at_11.46.48_AM.png" width="1048" height="546" alt="Buying a home in Knoxville TN" title="Buying A Knoxville, Oak Ridge, Maryville, or Lenoir City Home Guide" />
<a href="https://www.simplifyingthemarket.com/en/buyers/?a=451784-f3e675b5122757a3913a3d1368882dec" title="Free Knoxville area Home Buyer Guide">CLICK HERE FOR A FREE HOME BUYER GUIDE (Instant Download)</a>
You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide below will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
Simply fill out the form below to receive your copy of the eGuide, and feel free to get in touch if you have any questions- The McInerney Team with Great Life RE brokered by eXp Realty specializes in home buying and selling in Knoxville, home buying and selling in Maryville, home buying and selling in Lenoir City, and home buying and selling in Oak Ridge.
<a href="https://www.simplifyingthemarket.com/en/buyers/?a=451784-f3e675b5122757a3913a3d1368882dec" title="Free Knoxville area Home Buyer Guide">CLICK HERE FOR A FREE HOME BUYER GUIDE (Instant Download)</a>2019-02-10T09:37:00-07:002019-02-10T09:50:38-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:22284 Questions to Ask Before Selling Your HouseFour Questions to Ask Before Selling Your Knoxville Area House
Are you planning on selling your house in the Knoxville, Maryville, Lenoir City, or Oak Ridge Area in 2019? You will no doubt have more than 4 questions on your mind, but knowing the answers to these will get you started with confidence! Let's get together to answer these and any other questions you may have!
2019-02-10T09:29:00-07:002019-02-10T09:49:49-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2222One More Time… You Do Not Need 20% Down to Buy a HomeOne More Time… You Do Not Need 20% Down to Buy a Home
<a href="https://www.simplifyingthemarket.com/en/category/buyers/buying-myths/?a=451784-f3e675b5122757a3913a3d1368882dec" rel="category tag">Buying Myths</a>, <a href="https://www.simplifyingthemarket.com/en/category/buyers/down-payments/?a=451784-f3e675b5122757a3913a3d1368882dec" rel="category tag">Down Payments</a>, <a href="https://www.simplifyingthemarket.com/en/category/buyers/first-time-home-buyers/?a=451784-f3e675b5122757a3913a3d1368882dec" rel="category tag">First Time Home Buyers</a>, <a href="https://www.simplifyingthemarket.com/en/category/buyers/?a=451784-f3e675b5122757a3913a3d1368882dec" rel="category tag">For Buyers</a>, <a href="https://www.simplifyingthemarket.com/en/category/sellers/?a=451784-f3e675b5122757a3913a3d1368882dec" rel="category tag">For Sellers</a>, <a href="https://www.simplifyingthemarket.com/en/category/buyers/move-up-buyers/?a=451784-f3e675b5122757a3913a3d1368882dec" rel="category tag">Move-Up Buyers</a>
The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses.
<img src="https://assets.site-static.com/userfiles/829/image/Piggy_Bank2.jpg" width="750" height="410" alt="First Time Home Buyer Knoxville TN" title="First Time Home Buyer Knoxville TN" />
In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment!
According to the <a href="https://www.urban.org/research/publication/barriers-accessing-homeownership-down-payment-credit-and-affordability-2018" target="_blank">“Barriers to Accessing Homeownership”</a> study commissioned in partnership between the Urban Institute, Down Payment Resource, and Freddie Mac, 39% of non-homeowners and 30% of those who already own a home believe they need more than a 20% down payment.
The percentage of those who are aware of low down payment programs (those under 5%) is surprisingly low at 12% for non-homeowners and 13% for homeowners.
In a recent <a href="https://info.bankofamerica.com/homebuyers-report/" target="_blank">Convergys Analytics</a> report, they found that 49% of renters believe they need at least a 20% down payment.
The median down payment on loans approved in 2018 was only 5%! Those waiting until they have over 20% may already have enough saved to buy now!
There are over 45 million millennials (33%) who are mortgage ready right now, meaning their income, debt, and credit scores would all allow them to qualify for a mortgage today!
Bottom Line
If your five-year plan includes buying a home, let’s get together to determine what it will take to make that plan a reality. You may be closer to your dream than you realize!<br /><br />Contact me today and let's grab a cup of coffee and discuss how we can make your home buying dreams become a reality :)
2019-02-05T08:56:00-07:002019-02-05T09:02:59-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2215No Matter What the Groundhog Says... You Should Sell Before Spring!2019-02-01T10:22:00-07:002019-02-01T10:24:57-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2209PRIORITY TASKS FOR YOUR KNOXVILLE MOVE INPRIORITY TASKS FOR YOUR KNOXVILLE MOVE IN
Moving into a new home is an exciting time, and you’re probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you should cover first.
<img src="https://assets.site-static.com/userfiles/829/image/blog-moving.jpg" width="600" height="399" alt="Moving in Knoxville TN" title="Moving to Knoxville TN" />
Change the locks
Even if you’re promised that new locks have been installed in your home, you can never be too careful. It’s worth the money to have the peace of mind that comes with knowing that no one else has the keys to your home. Changing the locks can be a DIY project, or you can call in a locksmith for a little extra money.
Steam clean the carpets
It’s good to get a fresh start with your floors before you start decorating. The previous owners may have had pets, young children, or just some plain old clumsiness. Take the time to steam clean the carpets so that your floors are free of stains and allergens. It’s pretty easy and affordable to rent a steam cleaner—your local grocery store may have them available.
Call an exterminator
Prior to move-in, you probably haven’t spent enough time in the house to get a view of any pests that may be lurking. Call an exterminator to take care of any mice, insects, and other critters that may be hiding in your home.
Clean out the kitchen
If the previous occupants wanted to skip on some of their cleaning duties when they moved out, the kitchen is where they probably cut corners. Wipe down the inside of cabinets, clean out the refrigerator, clean the oven, and clean in the nooks and crannies underneath the appliances.
<a href="https://www.knoxvillehomestennessee.com/property-search/search-form/" title="Free Knoxville Area Home Search " target="_blank">Start Searching Now</a>- Instantly Search All Knoxville Area Homes for Free:
Curious about what your Greater Knoxville Area house would sell for in today's market? Visit <a href="http://knoxvillerealestatemarket.com/" title="Free Knoxville Area Home Value" target="_blank">www.KnoxvilleRealEstateMarket.com</a> for an INSTANT and FREE Home Valuation.2019-01-29T11:03:00-07:002019-01-29T11:30:23-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2206WHAT TO NEGOTIATE WHEN BUYING A HOUSEWHAT TO NEGOTIATE WHEN BUYING A HOUSE
Whether you are a first-time homebuyer or a seasoned veteran, the negotiation part of the transaction can be a little daunting and stressful. However, it is necessary to ensure you are getting the best possible deal for your money. So, what should you negotiate when buying a home?
<img src="https://assets.site-static.com/userfiles/829/image/Blog_image.jpg" width="600" height="399" alt="Buying a home in Knoxville TN" title="Buying a Home in Knoxville TN" />
Closing costs. Your closing costs are determined by a variety of factors, but you can expect it to be between 2% to 5% of the purchase price. Ask the seller to cover some or all of the closing costs upfront or request a closing credit that can be used to make specific updates and fixes to the home.
Furnishings. Love how the seller has furnished and decorated the home? Buyers often negotiate keeping couches, fixtures, landscaping items, patio furniture, appliances, and more. And many sellers agree, wanting to make the home more appealing.
Inspection and closing timing. Buyer offers that include a quick inspection and close timeline are often more attractive to sellers who have been going through the process for far too long. Just ensure you allow yourself ample time to get your financing in place and complete proper, thorough inspections.
Home warranty. Sellers will often agree to pay the premium on the home warranty at closing and then hand it off to the new homeowner, who is responsible for the deductible on any future claims.
Repairs. Your inspection may uncover small or large repairs needed to bring the home up to standard. You can negotiate to have these items fixed before closing or ask for a price reduction to cover the costs.
<a href="https://www.knoxvillehomestennessee.com/property-search/search-form/" title="Free Knoxville Area Home Search " target="_blank">Start Searching Now</a>- Instantly Search All Knoxville Area Homes for Free:
Curious about what your Greater Knoxville Area house would sell for in today's market? Visit <a href="http://knoxvillerealestatemarket.com/" title="Free Knoxville Area Home Value" target="_blank">www.KnoxvilleRealEstateMarket.com</a> for an INSTANT and FREE Home Valuation.
2019-01-28T11:11:00-07:002019-01-28T11:17:35-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:22045 NEGOTIATING TACTICS THAT KILL A SALE5 NEGOTIATING TACTICS THAT KILL A SALE
Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:
<img src="https://assets.site-static.com/userfiles/829/image/piggy_bank.jpg" width="600" height="450" alt="Negotiating your Knoxville TN Home Purchase " title="Negotiating your Knoxville TN Home Purchase " />
Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
“Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
Nitpicking after inspection: Obviously, if the inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.
<a href="https://www.knoxvillehomestennessee.com/property-search/search-form/" title="Free Knoxville Area Home Search " target="_blank">Start Searching Now</a>- Instantly Search All Knoxville Area Homes for Free:
Curious about what your Greater Knoxville Area house would sell for in today's market? Visit <a href="http://knoxvillerealestatemarket.com/" title="Free Knoxville Area Home Value" target="_blank">www.KnoxvilleRealEstateMarket.com</a> for an INSTANT and FREE Home Valuation.2019-01-26T13:54:00-07:002019-01-26T14:04:18-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2195TOP TIPS FOR HOUSE HUNTING ONLINETOP TIPS FOR HOUSE HUNTING ONLINE
If you are looking for a new home in the Greater Knoxville TN area, online is a great place to start your search, but it should not be your end all be all. Good listing agents are excellent at highlighting the best features of the home, but keep in mind there may be more than meets the eye. To make the most of your time and efforts and gather a well-rounded picture of home listings online, keep the following three things in mind.
<img src="https://assets.site-static.com/userfiles/829/image/blog_photo.jpg" width="600" height="399" alt="Knoxville Home Search " title="Homes For Sale in Knoxville TN " />
Stay up to date. When you start your search, make sure you find a site that pulls up-to-date listings directly from the multiple listing service (MLS) where real estate agents actively post their most current homes for sale. Many online resources update less often or fail to remove listings that are off the market, making it more difficult to sort through the clutter.
Pictures can be deceiving. Real estate photographers are experts at showing a home in the best possible light. Many use tools and strategies to boost appeal, such as a fisheye lens to make areas look larger and creative editing to make colors and textures really pop. But, often listings will not contain photos of unappealing parts of the home, like small closets or outdated bathrooms.
See it to believe it. Once you find what appears to be your dream home online, call up your real estate agent and schedule a showing. You want to take the opportunity to vet the home in person and explore every part of it before beginning the offer process. Your real estate agent will help you cover all your bases and will ask questions you may not have thought of.
<a href="https://www.knoxvillehomestennessee.com/property-search/search-form/" title="Free Knoxville Area Home Search " target="_blank">Start Searching Now</a>- Instantly Search All Knoxville Area Homes for Free:
Curious about what your Greater Knoxville Area house would sell for in today's market? Visit <a href="http://knoxvillerealestatemarket.com/" title="Free Knoxville Area Home Value" target="_blank">www.KnoxvilleRealEstateMarket.com</a> for an INSTANT and FREE Home Valuation.2019-01-23T11:51:00-07:002019-01-23T11:58:58-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2191TOP TIPS FOR STAGING YOUR HOMETOP TIPS FOR STAGING YOUR HOME
You have probably heard the old mantra, "A picture is worth a thousand words," however when it comes to real estate, a picture is worth thousands upon thousands of dollars. With the average homeowners looking at less than 10 houses in person, potential home buyers begin their elimination online via pictures.
<img src="https://assets.site-static.com/userfiles/829/image/Knoxville%20Home%20Staging.jpg" width="600" height="399" alt="Knoxville Home Staging" title="Home Staging Knoxville TN" />
A recent survey from the National Association of Realtors® revealed that 77 percent of buyers’ agents said staging a home makes it easier for potential buyers to visualize it as their own. That’s why here at <a href="https://www.knoxvillehomestennessee.com/sellers/" title="Selling Your Knoxville Area Home" target="_blank">The McInerney Team with Great Life RE powered by eXp Realty</a>, believe staging is not to be overlooked!
Here are our top tips.<br />(A home analysis complete with staging advice is provided with our listing services as well)
Dress up your yard. First impressions count, and the first one your home gives comes from the exterior. Mow the lawn, clean up shrubbery, rake any leaves, clean the walkway and driveway, plant in-season flowers, and pull up any unsightly weeds.
Reduce personal items. Make it easier for buyers to imagine themselves making your house their home by removing personal photos and knick-knacks from shelves, walls, and counters. Instead replace them with clean, simple décor, such as abstract paintings, nature images, vases, plants, and more.
Organize your storage areas. Storage is a huge selling point. Tidy up and clear out the accessible closets and cupboards in the home and make sure to point them out during an open house or showing.
Appeal to the senses. Consider ways you can appeal to potential homebuyers’ other senses. During a viewing or open house, bake some fresh cookies or burn delicious smelling candles and play light, relaxing music in the background.
Consider turning to an expert. With their knowledge of current trends and a great eye for design, professionally certified stagers can transform a home in a variety of ways and have a keen sense of what homebuyers want and expect in a home. Investing in hiring a pro may pay off in dividends.<br /><br />Curious about what your Greater Knoxville Area house would sell for in today's market? Visit <a href="http://knoxvillerealestatemarket.com/" title="Free Knoxville Area Home Value" target="_blank">www.KnoxvilleRealEstateMarket.com</a> for an INSTANT and FREE Home Valuation.<br /><br /><br />
2019-01-22T06:15:00-07:002019-01-22T06:34:05-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:2169Free Knoxville Buyer Guide
Are You Thinking About Buying a Home?
The process of buying a home can be overwhelming at times, but you don’t need to go through it alone.
You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide below will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
Simply fill out the form below to receive your copy of the eGuide, and feel free to get in touch if you have any questions.
<a href="http://www.simplifyingthemarket.com/buyers/?a=451784-f3e675b5122757a3913a3d1368882dec" title="Buying A Home Guide" target="_blank"><img src="https://assets.site-static.com/userfiles/829/image/Screen_Shot_2019-01-08_at_12.22.49_PM.png" width="1386" height="752" alt="Home Buying Guide" /></a>
<a href="http://www.simplifyingthemarket.com/buyers/?a=451784-f3e675b5122757a3913a3d1368882dec" title="http://www.simplifyingthemarket.com/buyers/?a=451784-f3e675b5122757a3913a3d1368882dec"> </a>2019-01-08T10:18:00-07:002019-01-08T10:27:17-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1937Down payments in Real Estate- How Much Money Do You Need To Put Down on a New HomeDown Payments in Real Estate Purchases
One of the most common questions I get asked by home buyers is "how much money will I need to purchase a home". One of the most important first steps a savvy home buyer needs to make is to get pre-approved with a Knoxville mortgage lender. Loans are not one-size-fits-all and not all loans can be used on all homes. The real estate market in the <a href="https://www.knoxvillehomestennessee.com/knoxville/" target="_blank">Greater Knoxville TN</a> area is booming. With rental prices rising drastically many are realizing being a homeowner may be more affordable. Here is a breakdown of the major loan types and an explanation of how much down payment you would need to purchase a home.
<img src="https://assets.site-static.com/userfiles/829/image/bigstock-Percent-Signs-in-a-snack-or-ve-90332030.jpg" width="1600" height="1345" alt="Knoxville TN Mortgages" title="Mortgage Options in Knoxville TN " style="float: right; margin: 5px;" />
Generally, there are a few major loan types:
FHA loan- currently 3.5% down payment (so if the home is $100,000 you will need to bring $3500 for a downpayment). These loans have PMI for the life of the loan
USDA loans- $0 down payment - you finance 100% of the purchase price. These loans are restricted by the borrower's income as well as the geographical location of the home- only what is considered "rural areas" are approved. Click here to check for USDA eligibility: <a href="http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfpFirst%20time%20homebuyers" target="_blank" title="USDA Loan Eligibility">http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfpFirst time homebuyers</a>
VA Loans- $0 down -100% financing available
Conventional loans- 5% down, 10% down, 20+% down- if you put 20+% down you can avoid paying PMI (private mortgage insurance)
Curious as to how much home you can afford??
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2018-08-20T07:22:00-07:002018-08-20T07:51:42-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1819a2018-06-26T12:55:00-07:002018-06-26T12:55:50-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1748Stop Renting and Start Owning2018-03-20T10:30:00-07:002018-03-20T11:08:22-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1704Build Home Equity Faster Build Home Equity Faster
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Home equity is the part of the property you actually own. For instance, if your property’s worth $250,000, and you have a mortgage with a remaining loan balance of $100,000, your equity in the property is $150,000.
Naturally, building home equity comes at a price, usually in the form of larger payments. If building home equity means incurring debt to make ends meet, then you’ve defeated the purpose of building equity in the first place.
The first option in home equity building is to make additional principal payments. One way to do this is to sign up for a bi-weekly mortgage, in which you make two payments per month (which added together equal one monthly payment). You will make the equivalent of 13 monthly payments per year instead of 12, which may seem insignificant. But a 30-year loan with a bi-weekly payment plan is usually paid off in about 20 years.
The other way to build home equity faster is to refinance. If you had a $200,000 30-year ARM at 8.13 percent and replaced it with a 15-year fixed rate loan at 6.75 percent, your monthly payment would go from $1485.69 to $1769.82. You would save $200,000 in interest and build the same amount of equity in half the time.2018-02-07T13:17:00-07:002018-02-07T13:20:09-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:17033 Tips for a Higher Home Appraisal 3 Tips for a Higher Home Appraisal
<img src="https://assets.site-static.com/userfiles/829/image/blog_appraisal_.jpg" width="900" height="506" alt="Knoxville TN Appraisals" style="vertical-align: middle;" />It may seem that homebuyers and sellers don't agree on much, but they share one important concern: that the transaction is successful. This comradery is never more evident than during the appraisal process. It's only natural since the results of the appraisal can send the deal spiraling out of control. <br /><br />Appraisers take into account many factors when determining the worth of a home. While some of these, such as location, can't be helped, there are things a homeowner can do to ensure that the home is appraised for maximum value. <br /><br />1. Information is King <br />Appraisers don't spend a lot of time in the home. In fact, Brian Coester, chief executive of appraisal firm CoesterVMS, tells CNBC that the interior inspection typically takes 30 minutes or less. <br /><br />"After inspecting thousands of homes, it does become quite easy to quickly assess the amenities in a home," reiterates Ryan Lundquist on Sacramento Appraisal Blog. That isn't much time to make a good first impression, so line up those ducks in advance of the appraiser's visit. The first one should be a packet of information that you can hand the appraiser as he or she speeds out the door after the inspection. This packet should contain not only the basics about your home but anything that will help back up the buyer's offer. <br /><br />Include a fact sheet about the home with the address, the year the home was built, the square footage, number of bedrooms and bathrooms, and the size of the lot. Also include a listing of recent sales in the area, especially if you know of any for-sale-by-owner homes that have sold or homes that sold for less than they should have for any reason. For example, a home may have been sold to a relative, or the owners may have sold quickly to take a job out of town. Yes, the appraiser has access to recent home sales, but there's always a chance he or she may miss something. <br /><br />Create a list of any improvements you've made to the home. List them by date and include contact information for the contractor who did the work. <br /><br />2. If It's Broken, Fix It <br />The appraiser will assign the home with what is known in the business as an "effective age." <br /><br />It's largely based on the condition of the home and how well it has been maintained. This age may be older or younger than its actual age. "Say you have a cracked window, thread-bare carpet, some tiles falling off the shower surround, vinyl is torn in the laundry room, and the dog ate the corner of the fireplace hearth, these items could still add up to an overall average condition rating as the home is still habitable, however your effective age will be higher resulting in comparables being utilized which will have the same effective age and resulting lower value," Doreen Zimmerman, an appraiser in Paradise, California, tells the Wall Street Journal. <br /><br />Fix anything that will age the home in the eyes of the appraiser. <br /><br />3. Give the Home a Quick Cleaning <br />Most appraisers will tell you that it doesn't matter if your home is clean or dirty - it has no bearing on its value. We, on the other hand, know how illusions can sell, and if a clean house gives the illusion that the home has been well-maintained, what harm can it do to clean it before the appraiser's arrival? I don't know about you, but before I trade in a car at the dealership, I give it a good cleaning. <br /><br />"Things like overgrown landscaping, soiled carpeting, marks on walls - those do affect the value and are part of the property's overall condition rating," Dean Zibas, of Zibas Appraisal in San Clemente, California, tells the Wall Street Journal. <br /><br />While some things impact a home's value more than others, the bottom line is that the process can vary by the appraiser. Anything you can do in the three areas listed above has the potential to streamline the appraisal process and increase the value of your home. Plus, going through these steps prior to listing your home will only help increase the number of potential buyers. And ultimately, selling your home is what it's all about.2018-02-07T13:03:00-07:002018-02-07T13:15:37-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1679Is Getting a Home Mortgage Still Too Difficult? <img src="https://assets.site-static.com/userfiles/829/image/getting-a-home-mortgage.jpg" alt="Is Getting a Home Mortgage Still Too Difficult?" title="Is Getting a Home Mortgage Still Too Difficult?" height="410" width="750" />
Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
What Has Happened to the Number of Mortgages?
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.
The Effect on the Economy
The housing market is recovering at a slower pace than it should since less potential homebuyers are being offered loans. While the market is still recovering with positive trends, fewer buyers can create a strain on other economic factors like home goods or construction jobs. Bottom Line
After the housing market boom and bust, mortgage lenders became stricter in their lending standards. It is not impossible to get a mortgage loan, but it can still be difficult for potential home buyers. Stay on top of your credit and make sure you and anyone else who is applying are in a good financial position so you can be approved for a loan. It is important to research different companies and their requirements to ensure success in getting a mortgage.2018-01-04T08:51:00-07:002018-01-04T08:51:58-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1678Why You Should Consider Selling in the Winter <img src="https://assets.site-static.com/userfiles/829/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2018-01-04T08:50:00-07:002018-01-04T08:51:20-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1677Common Things to Look Out for Before Buying Your Dream Home<img src="https://assets.site-static.com/userfiles/829/image/3-questions-to-ask-before-buying-your-dream-home.jpg" alt="Common Things to Look Out for Before Buying Your Dream Home" title="Common Things to Look Out for Before Buying Your Dream Home" height="410" width="750" />
It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
1. Why am I Buying a Home?
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
2. What is the Trend with Home Values?
Our current economy and housing market is strong. That means home values and mortgage rates are increasing. If you are looking to purchase a home but want to stay within a budget, it may be in your best interest to move quickly. It is forecasted for these trends to continue in an upward motion, causing home values to continue to increase.
3. What About Current Mortgage Rates?
The ticket price is not the only thing you should be concerned with when purchasing a home. Mortgage rates are always changing and can have a huge impact on your monthly payments. Current trends show mortgage rates are rising. This is something to consider if you are debating the right time to purchase a home, since the rates may be even higher down the road.
Bottom Line
You and your family are the only ones who can determine the right time to purchase your dream home. It is important to decide exactly why you want a new home for your family and decide on a budget that will be comfortable moving forward. This budget may affect the amount of time you have to search for a home, since home prices and mortgage rates are increasing. 2018-01-04T08:48:00-07:002018-01-04T08:49:45-07:00Christine McInerneytag:knoxvillehomestennessee.com,2012-09-20:1676Will Increasing Mortgage Rates Impact Home Prices? <img src="https://assets.site-static.com/userfiles/829/image/Mortgage-Rate-Projections.jpg" alt="Will Increasing Mortgage Rates Impact Home Prices? " title="Will Increasing Mortgage Rates Impact Home Prices? " height="410" width="750" />
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
Bottom Line
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together.2018-01-04T08:45:00-07:002018-01-04T08:48:00-07:00Christine McInerney