In this day and age, a majority of Knoxville home searches start online. To be more specific, 90% of home buyer searched online during their home buying process, according to a join study from Google and the National Association of Realtors. With that statistic in mind, it is obviously very important that your Knoxville home gets the proper online exposure. So, how can you ensure this happens?
First, it is important to keep in mind that not all Realtors are created equal. Just because your friend of a friend knows someone who is a Realtor, doesn’t mean you should be tied into using that person. While he or she may be a great Knoxville agent, without further research, there is no guarantees that he or she has a marketing campaign to help give your Knoxville home the online exposure that it needs. Read the rest of this entry »
Everyone always asks me so “How The Real Estate Market?”… I have to say the current market in Farragut has improved greatly in the last 12 months. Let’s compare first quarter stats from 2014-2015 in zip code 37934 which is Farragut.
Here is a chart with side by side numbers then we can break down the numbers and compare
|First Quarter 2015-2014 Zip Code 37934||2015||2014|
|Average List Price||$450,795||$424,037|
|Average Sale Price||$327,269||$296,009|
|Average Days On Market||87||70|
Whether your buying your first West Knoxville home or your fifth, there is a lot of terminology that comes with buying a West Knoxville. Two common terms that get thrown around when buying a West Knoxville home are market value and appraised value. These two terms are very critical when it comes to pricing a home because it must satisfy all parties involved. Unfortunately, with West Knoxville home prices rising, the market value and appraised value don’t always match. Here is a breakdown of each of the terms and why it is important for you to understand as a West Knoxville home buyer.
First, it is important to understand what market value is. Market value is the price agreed upon by a ready, willing, and able buyer and seller. In practice, market value for a West Knoxville home goes something like this: you find a home, you write an offer, the seller counters back a slightly higher price, and you accept the seller’s offer. Sometimes, it can be a little more complicated and there can be multiple buyers involved, but when it comes down to it, market value is the agreed upon price by both buyer and seller. Read the rest of this entry »
March 24th, 2015 categories: Buyers
With spring weather finally upon us you may start considering whether or not this year is a good year to buy a Knoxville home for sale. Here are some reasons why it still makes sense to buy a Knoxville home in 2015.
Mortgage Rates Are Still Low
Mortgage rates are still historically low. It expected, though, that mortgage rates will creep up towards the second half of 2015. You may think that a small increase in interest rate won’t really matter, but it can make a larger impact than you think. If rates go up by just 1%, it can reduce how much home you can afford by 11%. For example if you can afford a $250,000 loan with a four percent interest rate, your buying power would be reduced to $222,500 at a five percent mortgage. While interest rates aren’t expected to creep up a full point this year, even half a point increase can influence you’re buying power. Read the rest of this entry »
Buying a West Knoxville home for sale can be an overwhelming process, particularly if you are a first time home buyer. If you’re in the process of shopping for your first home, here are 3 common mistakes to avoid as a first time home buyer.
Buying More Than You Can Afford
Buying a West Knoxville home for sale is more than just the mortgage payments, there are property taxes, insurance, mortgage insurance, and maintenance to think about as well. When buying a West Knoxville home, be sure that you take into account all of the costs that come with buying a West Knoxville home for sale. Also, be sure that you have enough money left over each month to stow away into savings as an emergency fund. Read the rest of this entry »
Knoxville’s southern climate is mild enough that critters and bugs can be a big problem. If bugs and critters are a problem in your West Knoxville home, here is how to keep your home bug and critter free.
Invest In Some Borax
Borax can be an inexpensive solution to keep your West Knoxville home bug free. Sprinkle some Borax in any areas that are inviting to bugs, including entrance ways, windowsills, under cabinets and in garbage cans. Read the rest of this entry »
March 16th, 2015 categories: Sellers
Spring is almost upon us. After a very cold, snowy February, many Knoxville buyers and sellers are ready to venture out in the Knoxville real estate market. If you’re in the market of selling your Knoxville home this spring, here are 3 things to get your home ready to sell this spring.
Get Rid Of Clutter
Prior to putting your Knoxville home on the market, it can be helpful to get rid of clutter in your Knoxville home. Clutter and an overload of personal items can be distracting to buyers. It can also make your home feel smaller, which is why it can be helpful to take care of de-cluttering prior to putting your home on the market. Clear kitchen counters of items that are only essential and simplify the decorations in your home. It can be helpful to depersonalize your home so that a buyer can picture his or herself there. Read the rest of this entry »
March 9th, 2015 categories: Buyers
With news of home pries and mortgage interest rates rising, many West Knoxville home buyers are feeling the pressure to buy this year. While it can be important to keep in mind what the market is doing, it is also important to not get too hung up on real estate statistics. If you’re thinking about buying a West Knoxville home this year, here are three important things to remember when buying a West Knoxville home for sale.
Don’t Get Caught Up In The Numbers
There can be a lot of statistics out there about the real estate market. When it comes to buying a West Knoxville home for sale, don’t let the statistics trip you up too much. Keep in mind, that real estate is largely local, so not all national statistics paint a clear picture. Compared to other parts of the country, Knoxville doesn’t tend to have such boom and bust cycles. Things tend to rise and fall at more at a more gradual pace. Read the rest of this entry »
If you’re one of the many West Knoxville buyers, who have been wondering about if now is a good time to buy a West Knoxville home, you’ve probably been watching the real estate market a bit. You’ve probably heard mortgage interest rates have risen and housing inventories are lower than what they were. If you’re about to start your West Knoxville home search, here are a few tips to buy a West Knoxville home in a competitive market.
First, it can be very important to be a prepared, educated home buyer. Be sure you’ve talked to a loan officer about qualifying for a mortgage. Also, be sure to have selected a West Knoxville real estate agent to assist you in your home search. The more prepared you are, the better. It will only be to your advantage having a West Knoxville real estate agent there to help you make a competitive offer. It is also helpful to have talked to a loan officer, so you know how much you can afford. Read the rest of this entry »
A final walk through is done before closing on a Farragut home for sale. A final walk through gives a buyer the chance to have one last look at the Farragut home prior to closing, to ensure everything is left as it was discussed in the contract. So, what should should you look for in the final walk through of your Farragut home for sale?
First, in a final walk through, it is important to look for any new damage in the Farragut home. It has probably been awhile since you’ve been in the home, and in that time the sellers have moved out of the home. Are there any significant changes to the homes condition? Tears in carpeting? Large scrapes on the wall? If there are any significant changes to the home, the final walk through gives you one last chance to do anything about it prior to closing. Read the rest of this entry »