Knoxville Short Sales Category
BOA To Increase The Amount Of Short Sales 60-70%
November 30th, 2011 categories: Buyers, Knoxville Short Sales, Market Trends, Sellers
Recently, CDPE author and Charfen Institute CEO Alex Charfen hosted an exclusive broadcast with Bob Hora,
Senior Vice President of Mortgage Servicing at Bank of America Home Loans.
Bob Hora provided insight into Bank of America’s evolving approach to managing their distressed mortgage portfolio, which includes plans to increase short sales by as much as 60 – 70% next year. To achieve this increase, Bank of America is improving their short sale process and implementing a number of new programs to help both homeowners and agents.
Download the Report Now!
In CDPE’s newest report, we detail the information covered in the broadcast, such as Bank of America’s new community outreach campaigns and homeowner transition guides. You’ll also learn how increases in manpower and improvements to Equator will effect you, the agent, and the homeowners you serve.
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Presidential Candidates Blasted for Views on Housing
November 30th, 2011 categories: General, Knoxville Short Sales, Market Trends
In a recent blog post, CNBC’s Diana Olick slams the Republican presidential candidates’ plans for solving the nation’s housing crisis.
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.
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Knoxville Short Sale or Foreclosure Which Is Easier To Buy Part 3
November 27th, 2011 categories: Buyers, General, Knoxville Short Sales, Market Trends
We have been talking about getting a “deal” on a Knoxville Area Home. In my post 1 we talked about a short sale and post 2 we talked about a foreclosure from a local lender. Both of these buyers were involved in multiply offer situations and because they had patience they ended up buying their “Knoxville Deal” just because they hung in there with me. I find that many of these distressed property sales many times end up selling to the second buyer because the first buyer for whatever reason just walked away. If you do find a home you want to buy but end up losing out to some else hang in there with it. Continue to look at homes but stay up to date on the progress of the first home. Sometimes things do work out for you.
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Knoxville Short Sale or Foreclosure Which Is Easier To Buy Part 2
November 27th, 2011 categories: Buyers, General, Knoxville Short Sales, Market Trends, West Knoxville Neighborhoods
I have been sharing with you tips and tricks in order to get “Your Deal” on a home in Knoxville. One thing that is common in getting a deal is having patience. It doesn’t matter is it is A Knoxville Short Sale or foreclosure. I explained this to all 
my buyers and the ones that hang in there always end up doing very well on their purchase.
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.
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Knoxville Short Sale or Foreclosure Which Is Easier To Buy Part 1
November 26th, 2011 categories: Buyers, Knoxville Short Sales
I recently wrote 3 posts about finding “Your Knoxville Real Estate Deal” . I thought I would share my experiences with 3 different buyers I sold homes to in Knoxville. One was a short sale, one was a local lender bank owned home, the other was a Fannie Mae owned home. All 3 were very different experiences for each one of my buyers with successful outcomes.
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Buying a Knoxville Home in “As Is” Condition
November 14th, 2011 categories: Buyers, Knoxville Short Sales
With so many short sales and foreclosed homes for sale in Knoxville, there are many great real estate deals in the Knoxville market. One stipulation that comes with buying a home at such a cheap price is the condition that you are buying it “as is.”
What does “as is” mean? Buying a home “as is” means that you are purchasing that home in its current condition. There are no warranties given, it is sold in its current condition without any guarantees.
Should you be worried about buying a home “as is”? Not necessarily. The “as is” condition does not necessarily mean there is anything wrong with the properly. It just means the buyer should not expect repairs to be made. However, all buyers should have a trained home inspector examine the property so they have a better idea of what they are getting into.
Am I losing all my rights by buying a home “as is”? Absolutely not. The contract is subject to an inspection period. If something is found during the inspection which the buyer doesn’t like, they have the right to back out of the contract and still get their earnest money back.
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Finding Your Knoxville Real Estate Deal Part 2
November 9th, 2011 categories: Buyers, Knoxville Short Sales, Market Trends
The other day I started a 3 part series of Post Finding Your Knoxville Real Estate Deal. This is Part 2 of this series and we will be covering on how to “Find Your Deal”. Once you have found your Realtor who you are comfortable with I would get a home search setup on their website. That way you and communicate with your agent as new home come on the market and be ready to go look if something really good hits the market. I would suggest a local website as oppose to the large national sites like Trulia, Zillow etc. The reason is that most local sites are update several times throughout the day. That way you always have the newest homes and price reductions on homes. The large national sites get updated several times during the week so you may not always have current information.
You want to setup on the site very specific searches for what you are seeking in a home. It may take several saved searches to cover every angle of the type of home you want so you don’t miss anything. If you need help with it ask your agent they should be able to do it for you on their site.
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Finding Your Knoxville Real Estate Deal..Part 1
November 6th, 2011 categories: Buyers, Existing Home Sales, Knoxville Short Sales, Market Trends, Mortgage Guidelines, Mortgage Rates
The other day I wrote a post called “Knoxville Real Estate Deals What Yours?” It had to do that most buyers today are looking for a “deal,” but that means different things to different people as I point out in the post.
Today, I’m doing the first of 3 posts on how to help you determine, find and close your “deal.”
Determining your “Knoxville Real Estate Deal” …I think if you spend sometime determining what is important to you it will make your search simple and much more enjoyable. All you need is a pad of paper and I will share with you the questions I use to help my buyers determine what is important to them in finding their “deal.” Remember this is personal decision it is a big financial decision and monetary commitment on your part so take sometime in doing some pre-planning and you will have a successful out come.
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Knoxville 1st Time Buyers 5 Steps To Successfully Buy A Short Sale
January 12th, 2011 categories: Buyers, Existing Home Sales, Knoxville Short Sales, Market Trends
If you are a first time home buyer in Knoxville and are looking to get a GREAT Deal on a home you should consider buying a short sale. These types of homes can be bought at 20-30% less than fair market value making a great investment opportunity for buyers. I have found there are 5 things you need to do in order to increase odds of buying the home.
1 BE PATIENT…Knoxville Short Sales should really be called “Long Sales” because they are anything but a short process. You have to remember you are asking the lender to accepted less than what is owed on the home. This can be a long and drawn out process especially if there is more than one mortgage on the property. So it takes time and a great deal of expertise on the agents part to get a short sale accepted. The process can sometime take 5- 7 months to get it done and for the most part nothing happens for months. But if you are patient and hang in there the opportunity to buy a home at a HUGE discount are a strong possibility.
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Farragut Buy Of The Week
October 29th, 2010 categories: Buyers, Knoxville Short Sales
12530 High Forest Lane is located in Fox Run in Farragut. It features 5 bedrooms and 5 bathrooms. Outstanding kitchen with granite counter tops. Hardwood floors on the first floor. Master suite that will knock your socks off. Huge Bonus room and second floor laundry room. There is a full walk out finished basement with a second kitchen and additional living quarters. Located in the Knox County Schools system it is service by Farragut Primary, Farragut Middle and Farragut High School. Priced at $475,000 it is one you don’t want to miss call me for a private showing 865-696-9002 or email me [email protected]
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