In this edition of the blog post series, “West Knoxville House Hunters: Karns Edition,” we will look at three homes for sale in Karns all priced below $220,000. In recent years, the Karns area has undergone quite a bit of development. It has many wonderful housing options, all with a great West Knoxville location. If you’re looking at homes in the Karns area, be sure to check out these three homes for sale.
List Price: $219,900
MLS Number: 876715
Details: 3 Bedrooms, 2.5 Baths, Bonus Room
Square Feet: 2,176
Year Built: 2010
Features: This Karns home for sale is located in the Mills Plantation subdivision. This home was built in 2010 and has been kept in great condition. It has 3 bedrooms, 2.5 baths, and a bonus room. It has a spacious family room complete with crown molding ceiling fan, and gas fire place. The kitchen has solid surface counter tops, center island bar, stainless steel appliances, tons of cabinet and counter space, and bright eat-in area. The main level also has be formal dining room with hardwood floors. The master suite in this home is large as well. It has a large attached bath complete with jetted tub. The two remaining bedrooms are spacious as well. The bonus room has tons of space and could also double as a fourth bedroom. This home also has a great deck and level backyard. Read the rest of this entry »
This West Knoxville home for sale is located at 8605 Sunpoint Road, in the Cedar Grove subdivision. It has 2 bedrooms, 2 baths, and an asking price of $134,900.
This Cedar Grove home for sale has many upgrades and and been kept in fabulous condition. The family room is spacious and has a gas fire place. The family room opens up into the kitchen and dining area, making a great space to entertain. The kitchen has tons of cabinet and counter space, with plenty of space for cooking. The kitchen has been upgraded with stainless steel appliances and granite counter tops. There is also a bar area to sit at. This home also has two spacious bedrooms and two full baths. This home also has a large, partially covered patio. It also has a one car garage connected to the unit. Read the rest of this entry »
Before most buyers start their West Knoxville home search, a majority of home buyers wonder the same thing: how much home can I afford? Obviously, this is a very important question to have answered by a loan officer prior to starting your West Knoxville home search. Here are a few things that loan officers take into account to determine how much home you can afford.
One large determination in how much home you can afford is based on your credit score. You credit score shows a lender that you have a solid payment history, can responsibly use debt, and shows your level of debt. Depending on your credit score, this can have a determination of what types of loans you can qualify for. A very low credit score can put you in the range which could make it difficult to buy a West Knoxville home for sale.
Obviously, income is also a large part of determining how much West Knoxville home you can afford. Lenders want to see that your income is stable and that you can afford to make payments. If your income is dependent on commissions or bonuses, you may be required to submit two years or more of income. Read the rest of this entry »
Knoxville Restaurant Week 2014 starts Sunday, March 2nd and runs through Friday, March 7th. Knoxville Restaurant Week gives residents a great opportunity to dine out at a reduced price for a great cause.
Knoxville Restaurant Week helps raise money for Second Harvest Food Bank, with $5 from every meal donated to the organization. Many local restaurants participate in Restaurant Week, making it a great opportunity for residents to try out new place to eat or visit an old favorite. Read the rest of this entry »
If you’re like most people buying a Knoxville home for sale, you’re likely using some sort of financing to buy a house. Depending on what type of financing you qualify for, you’ll likely be required to put some sort of down payment down on a Knoxville home. So, how much money should you plan to put down on a Knoxville home for sale?
The Conventional Loan Route
With a conventional loan, you can put anywhere from 5% or 20% down on a Knoxville home for sale. The amount you’ll be required to put down varies from lender to lender, and can depend on your financial situation. If you put down 20%, you won’t be required to pay private mortgage insurance, which can reduce your monthly payment. But if you put less than 20% down, you will be required to pay PMI, which can increase your monthly payment. For those with money to put down on a house, a conventional loan is a good option.
With the help of an FHA loan, Knoxville home buyers can buy a home with as little as 3.5% down. For buyers with no money to put down, a friend or family can gift them their down payment. Unfortunately, with recent changes to the FHA loan program, FHA mortgages have become more expensive. The annual mortgage insurance premiums associated with FHA loans increased .1%. In addition, borrowers will have to carry mortgage insurance for the life of the loan. [In the past, a homeowner could cancel mortgage insurance after the loan to value dropped below 78%.] While Knoxville homeowners can still use an FHA loan to buy a Knoxville home for sale, with the increase in price, many homeowners may opt to go with a 5% down conventional loan or other loan routes. Read the rest of this entry »
In 2014, West Hills and Bearden area of West Knoxville will see its fair share of growth. The area will see many new businesses and restaurants coming to the area. Read on below below to see what new restaurants and businesses will be opening their doors in West Hills and Bearden this year.
Whole Foods will be opening up its first Knoxville location. Much like the opening of Costco and Trader Joe’s, Whole Foods has been a very anticipated business coming to Knoxville. The Whole Foods location will be opening up in Bearden, in Papermill Plaza. Whole Foods is an organic grocery store specializing in high quality, healthy foods. Whole Foods is expected to open in Fall 2014. Read the rest of this entry »
February 19th, 2014 categories: Tax Tips
It’s almost tax time again. As a West Knoxville homeowner, there are many different tax breaks to take advantage of. If you’re like any West Knoxville homeowner, you’re likely wanting to take advantage of any tax break the IRS has to offer. Here are 4 essential tax breaks for West Knoxville homeowners.
Any West Knoxville homeowner is able to deduct mortgage interest on their taxes, regardless of whether or not the home is a primary of secondary residence. This has been a popular tax break for homeowners for many years. It is particularly important for those West Knoxville homeowners that are still in the early years of their home loan, since a large portion of mortgage payments goes towards interest.
Another thing that West Knoxville homeowners are able to deduct on their taxes is mortgage points. So long as you can meet certain requirements, you will be able to deduct the full amount of mortgage points on your tax return for that year. Read the rest of this entry »
In this edition of the blog post series, “West Knoxville House Hunters: Hardin Valley Edition,” we will look at three homes for sale in Hardin Valley all priced below $250,000. The Hardin Valley area of West Knoxville is a growing area, with lots of new development. If you’re looking at homes in the Hardin Valley area, be sure to check out these three homes for sale.
List Price: $224,900
MLS Number: 858458
Details: 3 Bedrooms, 2.5 Baths, Bonus Room
Square Feet: 2,050
Year Built: 2005
Features: This Hardin Valley home for sale is located in the Franklin Creek subdivision. This home has 3 bedrooms, 2.5 baths, and a bonus room. The main level has an open floor plan with formal dining room and living room. The family room is large with hardwood floors and a gas fire place. The kitchen has smooth surface counter tops, white and black appliances, a center island, and dark cabinets. The master suite is large with trey ceilings. The master bath has double vanities, a jetted tub, and separate shower. The remaining two bedrooms are spacious as well. This home also has a large, fenced in backyard and nice patio. Read the rest of this entry »
February 14th, 2014 categories: Buyers
For those buyers using a mortgage to buy a Knoxville home, the mortgage world changed significantly on January 10th. Under new guidelines laid out in the Dodd-Frank Act, lenders are now required to make a “reasonable, good faith determination” that a borrower is able to repay loan.
So, what changes have come to the Knoxville mortgage world? And, what does it mean for Knoxville home buyers using a mortgage to purchase a home?
With the new mortgage guidelines, Knoxville lenders will focus on a borrower’s ability to repay. One way they will do this is by making sure all loans can be considered “Qualified Mortgages” or QMs. These mortgages must meet the following requirements: points and fees must be less than 3% of the loan amount, there may be no risky features (negative amortization, interest only, or balloon loans), the borrower must have a debt-to-income ratio of less than 43%, and the maximum loan term must be less than 30 years. Read the rest of this entry »
February 12th, 2014 categories: Buyers
Last year was a big year for many first time home buyers in West Knoxville. Many buyers had been waiting on the sidelines, but with the news of rising interest rates, many first time buyers finally making the choice to buy. Starting to look at West Knoxville homes for sale can be both exciting and overwhelming. If you’re one of the many first time buyers looking for a West Knoxville home, here are a few tips of what to look for and what to avoid in your home search.
First, it can be very helpful to start your home search off by doing your homework. It is possible to start your home search online (do it on our website at here). Doing a little pre-shopping prior to looking at West Knoxville home for sale, can be extremely beneficial for many home buyers. Also, if you’re unsure of the area, it can be helpful to drive by the home. By starting off doing your homework, you’ll have an idea of what homes are like in your price range and what areas you may find desirable. (If you haven’t been pre-approved, be sure to do so before your home search. This is a critical part of the home search process.) Read the rest of this entry »