1. Check out your waterworks. Use the sporadic downpours to see if your gutters are properly functioning. Are the gutters functioning like the should be or are they clogged with leaves and debris? When the water leaves the downspouts, is it moving away from the house? You want to ensure that the water is moving away from your home, and not saturating your foundation.
2. Do a walk-through of alarms. Take the time to check the functionality of your smoke detector and carbon monoxide detector. Check to see each one is working and change the batteries. Important tasks like these are important and very easy to forget.
3. Go looking for leaks. With mother nature’s help, a rainy day is a great time to make sure there are no leaks in your house. Go up to the attic and look for any potential leaks. If you find one, trace the droplet up to the source to see the point of origination.
4. Maintain your refrigerator. Make sure the seals on your refrigerator are airtight. You can test this by closing a dollar bill in the door. If you are able to easily pull it out, the latch may need to be adjusted or the seal may need to be replaced. Also, take the time to vacuum out the back of your refrigerator if it has coils on the back. It should be done twice a year and will make your refrigerator run more efficiently.
5. Organize your warranties and take inventory of your belongings. Organize all appliance warranties and take note of any maintenance that needs to be done. [The maintenance can me done on the next day you're stuck inside due to mother nature!] By doing the required maintenance, you will keep the appliances in better working order, giving them a longer lifetime. Also, use this time to take inventory of you belongings. Consider using an inventory program. If for any reason you have to file a claim with your homeowner’s insurance, it will make the process easier.

Whether you are prepping to sell your West Knoxville home or if you just want to do some routine maintenance on your home, a rainy day in Knoxville is the perfect time to do it. What maintenance will you be doing on the next rainy day?

1) Prevent Plumbing Freezes

Locate your water main in the event you need to shut it off in an emergency.
Disconnect all garden hoses from Hose Bib and protect hose bib
Insulate exposed plumbing pipes.
If you go on vacation, leave the heat on, set to at least 55 degrees and shut off main water valve.
During Extreme Cold weather leave interior faucet dripping and cabinet doors open where plumbing is located.

2) HVAC/ Furnace Inspection

Call an HVAC professional to inspect your furnace and clean ducts.
Stock up on furnace filters and change them monthly.

3) Get the Fireplace Ready

Cap or screen the top of the chimney to keep out rodents and birds.
If the chimney hasn’t been cleaned for a while, call a chimney sweep to remove soot and creosote.
Inspect the fireplace damper for proper opening and closing.

4) Check the Exterior, Doors and Windows

Inspect exterior for crevice cracks and exposed entry points around pipes; seal them.
Use weatherstripping around doors to prevent cold air from entering the home and caulk windows.

5) Inspect Roof, Gutters & Downspouts

Check flashing to ensure water cannot enter the home.
Replace worn roof shingles or tiles.
Clean out the gutters and use a hose to spray water down the downspouts to clear away debris.

6) Check Foundations

Seal up entry points to keep small animals from crawling under the house.
Inspect sill plates for dry rot or pest infestation.
Secure Crawl Space entrances.

7) Flip the switch on your ceiling fan.

This one is really easy, just flip the rotation direction on your ceiling fans. As hot air rises in the winter, you want the fan to blow upward and slowly. This circulates the hot air back down into the room. When it becomes warmer, you want the fans to blow downward and quickly to cool you off.

Do not use Salt or Chemicals on Concrete including driveways, patios and sidewalks. This can damage the finish permanently.

Are you considering selling your West Knoxville home? Have you considered having your home staged? Here are a few reasons why having your home staged may be a worthy investment, that could make your home sell faster and get your a better asking price.

1. According to the National Association of Realtors, having your home staged can increase you asking price by 1% to 3%, which would increase your return anywhere from 8% to 10%.
2. A professional stager can see your home in a more objective light. A professional stager can de-clutter and organize a home more objectively than the average seller. They can make quick, simple fixes that will make your home more marketable and appealing to potential buyers. A little organizing can go a long way.
3. You home will stand out in online photos. In todays real estate market, many people go online before looking in person at a home. The Knoxville Multiple Listing Service allows buyers to full access to homes for sale in area. According to the National Association of Realtors, over 90% of buyers browse online before looking in person. Will your home stand out?
4. A professionally staged home will allow a potential buyer to better picture himself/herself in your home. A professional home stager will organize and de-clutter your home, so that a potential buyer can better do this. It is much easier for a buyer to do this when a home is organized and clean.
5. Home staging in Knoxville is a worthy and relatively affordable investment. Prices range from start at about $150-$200 for the initial consultation and increase depending on how large the home is and how much staging you want done in your home. For exact pricing, check with home stagers in Knoxville to verify their fees and hourly rates.

Home staging is a great way to give you West Knoxville home for sale more selling power. It will make your home more marketable to potential buyers. Have you considered having your West Knoxville home staged?

Political beliefs aside, Olick makes some astute observations regarding the bank’s preferences for short sales over foreclosures and the important role that Fannie Mae and Freddie Mac play in keeping the market liquid.

Given the major impact housing has on the overall U.S. economy, it’s vital that our political leaders have a thorough understanding of these issues.

The biggest mistake we see politicians make, however, is to claim they have a new plan or program to fix the housing crisis. The reality is, no such “magic bullet” exists. What’s needed is a series of rational financial decisions that will eventually return us to a rational housing market.

Little by little, the housing market is coming back. It’s not going to happen overnight, and it shouldn’t. While creating temporary relief, a return to the irrational housing boom of the past decade would only create future instability.

Educated and experienced real estate agents are playing a crucial role by getting homeowners out of houses they can’t afford, and qualified buyers into existing inventory in a responsible way. Savvy investors have already returned to the market and are helping to relieve over saturation and fill the increased need for rental units.

If we can change the misconception that housing is a risky investment, we will also see the return of primary home buyers, and a return to stability in the market.

So I decided to put these sites to the test on a recent sale I had in West Knoxville in Fox Run on a home located at 12530 High Forest LN. I sold the home for $425,000 in March of this year. So I went to Zillow and look up the value they had on the home which was $491,100 is the value they had for the home. So you are thinking the buyer made a heck of a buy on this one. Next I went to Trulia $388,493 …OOPS they buyer paid TOO MUCH!!!

The is the problem with these sites they are all over the place when it comes to values on homes. That is exactly the point of the article in Smart Money which is causing many buyers to believe that these sites are sharing true market value.

Here in West Knoxville our Neighborhoods have felt prices fall back because of the economy but not to the point of some other parts of the country. Recently I wrote about values in Montgomery Cove and Mallard Bay and as you can see in the post things have remained pretty steady of the last couple of years.

The best way to determine value is to have your Realtor run the comps for you on the home you are interested in buying. That way you can make an informed decision and make an offer based on those findings. You will know if the seller is asking too much, price right or too low from the other homes that have sold.

Need Help? Call Me 865-696-9002 or email me Rick@TheBigOrangePress.com would love to help you find your next home.

My third buyer was looking for a property with acreage within 30 minutes of Knoxville. We were searching for homes and the home at 1402 Carpenters School Rd in Maryville came on the market. This home was a Fannie Mae REO which automatically means you are dealing with the government and plenty of paperwork. Fannie Mae normally has their homes in pretty good shape when they hit the market. They offer HomePath financing on their homes which means you can buy with as little as 3% down. Nice program that I haves used a few times for my buyers. They also run specials offering to cover closing cost from time to time.

This home was priced very well at $283,000 the previous owner paid $375,000 in 2008. The home is on 5 acres and was in pretty good shape. Once again because these type of properties are usually priced pretty aggressively more than one offer came in at a time. We got the multiply offer situation form signed it and submitted our highest and best offer. Fortunately this time we were the successful bidder. At the time of this post we are still waiting to close on this home in a few weeks.

I guess their are a few things you have to remember if you want to buy this type of home and be successful. First be patient many times if there are more than one offer on a home and you lose out many times the first offer doesn’t work out. Second get in touch with a good Realtor they can make a difference in helping you be successful in buying your home.

There really isn’t that much difference in the buying experience of a Knoxville Short Sale or Foreclosure. They both take time and patience…If I can help you in anyway with the purchase of “Your Deal” call me at 865-696-9002 or email me Rick@TheBigOrangePress.com

I recently sold a local banked owned home at 1504 Lakeshire in West Knoxville. This home was a foreclosure by a local lender that needed a great deal of work. But instead of putting the home on the market in terrible condition. The lender decided to put some money into the home and update it so it would compete successfully when they put it on the market.

They updated and replaced the carpeting, kitchen, and bathrooms. They did a really nice job in fixing this home. But what they really did was price it to sell by putting on the market for $130,000

The next thing you know there are 4 offers on the home. When this happens the lenders make you sign what is called a multiply offer form. They want you to know there is more than one offer to consider and want you highest and best offer. So I went back to my buyer and we wrote an offer for $135,000 and submitted to the bank. Well unfortunately we didn’t get the house because someone wrote an offer higher. We were disappointed and continued to look around but I styaed in tough with the other agent. Because there where inspections to be done and you never know what could happen.

Well about 10 days later I got a call out of the agent telling me the other buyers walked away. She was calling everyone to know it was back on the market. So i called my buyers and we submitted our $135,000 offer again. Well sure enough more than one offer came in again and we were back in a muliply offer situation.

My buyer didn’t fool around this time they wrote $140,000 offer got the home. We did our home inspections and found a few minor issues that the bank fixed. They make a great buy on a basement rancher in West Knoxville just for being by being patient.

If you are looking to find your “deal” let’s talk. I can help you call me at 865-696-9002 or email me Rick@TheBigorangePress.com

For the Sardo family of Houston, Texas, the deed restrictions in their neighborhood are making all the difference for their beloved family pet, Wilbur. Wilbur is a potbelly pig, who has his own webpage and Facebook Page that has over 5,000 followers. So, what is the cause of concern for this family and their beloved pig? The Homeowner’s Association is saying that having a pig, which they consider to be livestock, is against the neighborhoods deed restrictions and that the Sardo’s pet pig would need to find a new home.

The Sardo family received the first complaint from the HOA in April 2011 to which they responded back that Wilbur is a beloved member of their family and potbelly pigs are not typically considered to be livestock. In July, they received another letter from the HOA giving them 30 days to find Wilbur a new home. Since then, the Sardo family has started a petition and filed a lawsuit against the HOA so that they can keep Wilbur in their home.

So what does this mean for you and your West Knoxville home? Sure, you may not be considering moving your whole family plus one potbelly pig into that West Knoxville home. But, you could plan on building a fence? Or, do you know the specifics of maintaining the appearance of your home? Deed restrictions, depending on the West Knoxville neighborhood, can cover a whole range of topics including appearance and maintenance of yard or fences, types of storage buildings, exterior paint colors, vehicle and boat parking, trash accumulation, and what types of animals are allowed. While some neighborhood’s restrictions are more complicated than others, it is important that you make sure that there is nothing in your lifestyle that will be an issue prior to purchasing the home.

So where can you obtain the deed restrictions to your West Knoxville neighborhood? Your realtor or title company can help you obtain a copy. Or, you can verify with the seller to see if there is anything out of the ordinary in the neighborhoods deed restrictions. By being familiar with the deed restrictions in your new neighborhood, you will be able to avoid future problems with the homeowner’s association.

The source of this video is from Wilbur Sardo’s YouTube Channel.

I always go back a couple of years to try and determine trends that are occurring in the market. Are homes prices falling, stable , how long is it taking to sell etc so I can better advise a client on pricing.

Montgomery Cove  from November 2009-2010

Average Sale Price	Median Sale Price	Highest Sale Price	Average Days On Market
$587,910	$537,500	$949,900	137

Montgomery Cove from November 2010-2011

Average Sale Price	Median Sale Price	Highest Sale Price	Average Days On Market
$610,071	$580,000	$1,425,000	125

When you compare the 2 years things remained pretty flat from one year to the next year. Average home did sell faster and there was on very large home sell at $1.425 million. But for the most part there wasn’t any big changes as far as pricing or homes selling quicker.

Mallard Bay from November 2009-2010

Average Sale Price	Median Sale Price	Highest Sale Price	Average Days On Market
$654,211	$592,400	$1,550,000	189

Mallard Bay from November 2010-2011

Average Sale Price	Median Sale Price	Highest Sale Price	Average Days On Market
$797,116	$599,900	$1,899,000	140

Same is true in Mallard Bay the one big chance was days it took homes to sell 189 days 2009 to 140 days 2010. That is pretty significant in the price ranges of homes. I have noticed that the inventory has started to drop in the upper bracket slowly but surely over the last year. That is good for the marketplace. I don’t think we have turned the corner yet and I think awhile before it will happen.

If you are thinking about selling but worried about the value on your current home and taking a beating on price. If you analysis your situation and give it some thought it may not be as bad as you think. I have had many of my sellers decide to sell after we sat down and talked about it. Want to discuss your situation call me 865-696-9002 or email me Rick@TheBigOrangePress.com.

Also check out my 3 part post on Knoxville Real Estate Deals may help with your decision process Part 1, Part 2, Part 3

Current Homes For Sale In Mallard Bay

So who will be affected by this tax? Anyone who is considered “high income” taxpayer. That means any person who files their taxes as single and who earns over $200,000 would have the tax applied when they sell their home. Or, for people who file their taxes jointly and earn more than $250,000 combined would also be affected by the sales tax.

So what is the difference between “earned” and “unearned”? “Earned” income is any income that comes from a person’s work. It includes wages, salaries, and tips. It also includes any union benefits or income earned while disability. “Unearned” income any income that is not earned through work. This includes: gifts and inheritances, prizes and awards, dividends and interest, and any other income that has not been earned through wages and work.

The new 3.8% tax applies to the lesser investment income amount and the excess of the adjusted gross income amount of $200,000 if single or $250,000 if married.

For example, if a seller has sold West Knoxville residence and gained $525,000 and their adjusted gross income is $325,000. The tax would be applied as follows:

AGI Before Taxable Gain  – $325,000
Gain on Sale of Residence  – $525,000
Taxable Gain (Added to AGI) $25,000 ($525,000 – $500,000)
New AGI $350,000 ($325,000 + $25,000 taxable gain)
Excess of AGI over $250,000 $100,000 ($350,000 – $250,000)
Lesser Amount (Taxable) $25,000 (Taxable gain)
Tax Due $950 ($25,000 x 0.038)

So does this mean every person who meets the criteria is doomed to be taxed on the sale of their West Knoxville home? Not necessarily. If the Health Insurance Reform is repealed or changed in any way, this tax may not apply, since it is not scheduled to take place until 2013. For more information about the 3.8% sales tax on home sales, check out this brochure from the National Association of Realtors ®.