Archive for December, 2009
Merry Christmas Everyone
December 24th, 2009 categories: General
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How To Trim Your Utility Bill Without Inconveniencing Yourself
December 21st, 2009 categories: Buyers
The average family spends $2,200 per year in electric bills and the average home is responsible for twice the amount of greenhouse gases than the average automobile.
Whether you want to save money or save the environment, this 5-minute piece from the NBC Today Show is for you. In it, you’ll learn that just by being aware of your energy consumption, you can reduce it by up to 15 percent.
The piece centers on a device called a Power Monitor which retails from $30 to $100, depending on the model. It measures the actual cost of using an appliance, or using a light, or charging a laptop, or any other household energy use.
Among the cost findings:
- A plugged-in phone charger no phone attached costs $0.10 per hour
- Cooking with a microwave costs $0.88 per hour
- Big screen TVs cost $0.06 per hour to operate
Obviously, turning off lights when rooms aren’t in use saves money, too.
By making small changes — most of which aren’t inconvenient — the average family can drop its energy bill by hundreds of dollars each year.
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New School Proposed For West Knoxville
December 18th, 2009 categories: Buyers, General, Market Trends, Sellers
Knox County Schools are considering a new elementary school for West Knoxville. There are four different sites that the school board is considering…
Site 1 is the Northshore Town Center it is a 14 acre parcel just off Pellissippi Pkwy. Very convenient location.
Site 2 is Choto 1 which is a 15 acre parcel next to the new YMCA in Jefferson Park off Northshore
Site 3 is Choto 2 is on the south side of Northshore just west of Choto
Site 4 is Choto 3 is a 23 acre parcel on Choto near the intersection of Northshore
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A Simple Explanation Of The Federal Reserve Statement (December 16, 2009 Edition)
December 16th, 2009 categories: Buyers, General, Market Trends, Sellers
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent.
In its press release, the FOMC noted that the U.S. economy “has continued to pick up”, that the jobs markets is getting better, and that housing market has shown “some signs of improvement” lately.
It’s the fourth straight statement in which the Fed speaks optimistically about the U.S. economy – a signal that the worst of the recession is likely behind us.
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It is Getting Tough To Borrow Money To Buy A Knoxville Home…Again
December 16th, 2009 categories: Buyers, General, Market Trends
Fannie Mae raised the bar for mortgage applicants this past weekend. Getting approved for a Knoxville home loan just got harder
In its official announcement, Fannie Mae says the updates minimize long-term lending risks. If that’s the case, this won’t be the last guideline change Fannie Mae makes — especially with loans defaulting at an above-normal clip.
The immediate changes are major. The first pertains to credit scores.
Effective December 13, 2009, the bulk of Fannie Mae’s loans require a 620 credit score minimum. There are very few exceptions.
A second relates to loans with private mortgage insurance.
Homeowners whose loan-to-value exceeds 80 percent now have a choice:
- Pay higher mortgage insurance premiums month-after-month
- Pay a one-time fee paid at closing to compensate for higher risk
Both options result in higher consumer loan costs.
A third change concerns maximum debt-to-income ratio. Fannie Mae will no longer approve loans with debt ratios exceeding 45 percent except with very strong assets and very high credit scores.
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The Federal Reserve’s Relationship To Mortgage Rates
December 15th, 2009 categories: Buyers, General, Knoxville Short Sales, Market Trends, Sellers
The Federal Open Market Committee meets today for the last time in 2009. It’s a 2-day meeting and the Fed is expected to leave the Fed Funds Rate near 0.000 percent.
But that doesn’t mean mortgage rates won’t change.
See, a major misconception among the public is that the Federal Reserve sets mortgage rates. That’s false. Mortgage rates are based on the price of mortgage-backed bonds.
As an example, since 2000, the Fed Funds Rate and the 30-year fixed rate mortgage have been within 1 percent of each other at times, and as far apart as 5 percent at others.
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Something For Dad For Christmas 16-In-1 Black And Decker ReadyWrench
December 14th, 2009 categories: General
When it comes to DIY projects, one socket size rarely fits all. So, for light jobs around the house, the 16-in-1 Black & Decker socket wrench can come in handy. Its official name is the ReadyWrench.
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Foreclosure Activity Falls For The 4th Straight Month
December 10th, 2009 categories: Buyers, General, Knoxville Short Sales, Market Trends, Sellers
Since peaking in July 2009, national foreclosure activity has dropped through 4 consecutive months.
On a month-to-month basis, November’s foreclosure activity fell another 8 percent.
However, national foreclosure activity continues to be dominated by a minority of states.
As reported by RealtyTrac.com, more than half of November’s foreclosure-related activity sourced from just 4 states:
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3 Reasons Knoxville Home Buyers Should Buy Now!!
December 9th, 2009 categories: Buyers, General, Market Trends
Opportunity is Knocking Right Now For Knoxville Home Buyers…..
Well it is the Christmas and Holiday season and most people think well I’m going to buy a house but I don’t want to fool with it right now. With Christmas and everything I will wait until after I get the Holiday’s behind us. Then the next thing you know it is the end of January then…It is cold we will wait until spring and the next think you know it is March..
That is what most people are thinking right now and I can give you 3 very good reason you should buy now!!!!
Reason #1 No Competition!!
Everyone is setting on the side lines right now. Sitting back and going to wait until after the Holidays then into January it will be mid February before most buyers start thinking about buying again. For the smart home buyers that buy now that means NO COMPETITION for you. You will be in charge of the price and terms on the house you buy. The sellers who are selling now are MOTIVATED. Which means you will get better price and terms because of less COMPETITION….
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What’s Up With Snow In Knoxville?
December 5th, 2009 categories: General
Hard to Believe But It Happened Today…..
We have lived in Knoxville for almost 4 years now and never had any real snow to speak of….But today we awoke to the white stuff and I had to get out and get a few pictures. Lexi got out and enjoyed it and I’m sure it brought a few memories of the winter’s in Toledo. By early afternoon it was all gone
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