For many years, there have been rumors about Costco coming to Knoxville. In 2008, there was even an online petition started in hopes that it would lure the company into coming to Knoxville. It seems, though, the rumors are finally true.

Earlier this month, Costco met with the  Town of Farragut to discuss their site plan and to eliminate any potential zoning issues.  In July, they will submit their site plan to the Municipal Planning Commission in Farragut. And, if all goes according to plan, they could start breaking ground as early of August of this year and be open at the end of the year or in early 2012.

Costco is a wholesale club based out of Washington state and is one of the largest warehouse chains in the U.S.   They have more than 425 locations in the United States and Puerto Rico.  The business will offer everything from groceries to furniture to electronics.  Members are able to purchase these items at a lower price since the business operates on a warehouse format, which allows them to cut operating costs. Costco sells name brand items as well as their own brand of items called Kirkland Signature.

Costco will be a great addition to the Farragut community.  With the location being off of Kingston Pike and Lovell Road, it is easily accessible from I-40/75 and is just minutes away from Turkey Creek.   It also offers the Farragut community something which they do not all ready have.  Costco is a place where you can find almost anything and you can purchase items in bulk at a much lower price.

If you a considering moving to Knoxville, please feel free to contact me at 865-696-9002 or at Rick@TheBigOrangePress.Com. I would love to answer any of your questions about Knoxville or the great things Knoxville has to offer.

Breast cancer touches many families each year. It touched our in 1991 with Leslie’s experience with it. We are thankful every day for her life and being cancer free for so many years.We have been truly blessed as a family.

Here in Knoxville it will be in the World’s Fair Park

from 2:00-10:00 pm with alot of events for the family. Here are all the details

Farragut will have it’s annual July 4th parade on July 3rd  from 8:30-11:30. If you are in the area at that time check it out. But also be aware they will have Kingston Pike blocked off at that time.

A fun event in Kingston, TN is their “Smokin’ The Water ” Celebration

It has come to be a local family tradition that includes a parade,drag boat and raft races, children’s activities,classic car shows,vendors and more. Plan to bring your family to this day long event that will end with an outstanding fireworks display over the water.

If you are interested in a celebration like they did in pioneer times you may want to go over to The Museum of Appalachia You can take part in their “July 4th Celebration and Anvil Shoot”.

Lenior City will be having it annual “Rockin’ The Docks” It will be in the Lenior City Park. The activities will start at 4:00 pm with various activities with the fireworks starting at 10:00 pm

I hope everyone has a safe and happy July 4th!! Enjoy yourself and have fun with your families

In my previous post I asked if you notices the changes taking place at The Town of Farragut. Well the big day is almost here for the

Admiral David Glasgow Farragut Bronze Statue Dedication.

Sunday, May 2 at 4 p.m.

Music by the Farragut High School Band at 3:45

Light Refreshments and Museum Tours Follow the Dedication

Other Events During The Weekend.

Friday, April 30:

• Admiral Farragut Special Exhibit in the Farragut Folklife Museum 10 am – 8 pm
• Civil War Encampment 4-8 pm

Saturday, May 1:

• Civil War Encampment 9 am – 12 noon
• Admiral Farragut Special Exhibit in the Farragut Folklife Museum 9 am-1 pm
• Civil War Trail Historical Maker Dedication 12 noon

Sunday, May 2:

• “The Making of the Admiral Bronze” Presentation 2 pm
• “David Glasgow Farragut, America’s First Admiral” Presentation 2:45 pm
• Admiral Farragut Special Exhibit the Farragut Folklife Museum 2-5:30 pm

Everything is free all weekend and will be taking place at The Town Of Farragut Town Hall on Municipal Drive. Come out and enjoy the weekend and the dedication ceremony.

Here is what happen to one of my seller…. My seller began having trouble keeping up with their mortgage payments last fall. So they did the responsible thing and contact their lender GMAC Mortgage.  They over the next 9 months they tried to work out a loan modification with GMAC.  After completing the paper work  4 months later they where turned down for the loan modification. So GMAC told them to submit the paperwork again and they would reconsider it a second time. So my seller did it again and was turned down a second time.

So being very upset they asked GMAC what could they do because they didn’t want to lose their home to foreclosure. So GMAC suggested contacting and experienced Realtor who could help them sell their home on a short sale. So they contacted me about selling their home.  Then I contact GMAC and told them we had the home listed and was told to send them a copy of the listing contract and they would stall any auction.

What happen next just blew us away….GMAC starts foreclosure proceedings. Luckily we where able to get an offer very quickly for $425,000. So we get the short sale packet to GMAC and get to the negotiator. We kept trying for 2 weeks to get the auction date stalled with GMAC. But the negotiator wouldn’t stall the auction or give us a response to our offer.

The 2 days before the auction the negotiator tells our offer is too low but won’t give us a number. So we go back to the buyer and get them to come up to $450,000 in hopes to stall the auction and get a response from GMAC. What do we get from GMAC nothing no response at all…so the home goes to auction and sells for $353,000. So GMAC loses $97,000 of taxpayers money and my seller ends up going to foreclosure what they are trying to avoid.

Unbelievable to me why they would let this happen. If you are a homeowner in distress feel free to contact my at Rick@TheBigOrangePress.com

Click here to view the embedded video.

It’s bad news for home buyers and mortgage rate shoppers.  The same force that’s driving oil higher is linked to rising mortgage rates.

We’re talking about the weakening U.S. Dollar which is now at its worst levels versus the Euro in 15 months.

Crude oil is priced in U.S. dollars, by the barrel.  When the dollar loses value, more of them are needed to buy the same barrel of oil.  As a result, predictably, the price of crude oil goes up.

Now, there are other reasons why crude oil is rising, but the fading U.S. dollar is one of the major ones and it’s why we’re addressing it.

The dollar has a similar impact on mortgage rates.

Mortgage rates are based on the price of mortgage bonds that — like crude oil — are also denominated in dollars. As the dollar loses value, so do mortgage bonds.  This causes demand for bonds to drop and prices on bonds to fall.

Because bond prices and bond rates move in opposite directions, mortgage rates rise and thisis precisely what’s happening on Wall Street today.

Since touching a 5-month low in early-October, mortgage rates have tacked on as much as 1/2 percent, depending on the product.  Moreover, with the dollar showing no signs of a rebound, the upward pressure on rates should continue.

If you’re trying to time the market bottom, you may have already missed it. Consider locking your mortgage rate before rates increase even more.

And your everyday signal that rates are rising? Just check your price at the pump. If gas prices are up, it’s likely that mortgage rates are, too.

Rick Smenner of RE/MAX Preferred Properties has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Smenner. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Rick Smenner with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

If you are distressed Knoxville homeowner feel free to contact to learn about your options 865-696-9002 or Rick@TheBigOrangePress.

Click here to view the embedded video.