Mortgage Rates Category
Knoxville Home Buyers Buy With Nothing Down!!
November 30th, 2011 categories: Buyers, Mortgage Rates
THDA is a program designed to help home buyers get into a home with little or no money down. It is an excellent program that many of my first time home buyers use. They have just increased the purchase price limits in Knox County up to $240,000 which is great. This is the announment from THDA is below
“THDA is pleased to announce that effective Thursday, December 1, 2011 the Acquisition Cost Limits will increase for all Tennessee counties. These changes in Acquisition Cost Limits for each county are reflected on the revised page 9 of the Originating Agents Guide
All THDA loan applications received on or after December 1, 2011 will be considered in accordance with these new limits.”
Check out all the changes here
If you are interested in buying a home using the THDA please feel to call me at 865-696-9002 or email me Rick@TheBigorangePress[email protected].
| Discussion: No Comments »
Buy A West Knoxville Home Now 5 Reasons Why
November 29th, 2011 categories: Buyers, Market Trends, Mortgage Rates, West Knoxville Neighborhoods
Have you been thinking about buying a West Knoxville home but are unsure whether now is a good time to buy? Consider these 5 GREAT reasons to buy a West Knoxville home now:
1. Affordable home index of 83% — that means 83% of everyone working in West Knoxville can afford to purchase a home.
2. Cheaper to buy than rent – it’s now cheaper to buy a West Knoxville home than rent! Save some of your hard earned money AND own a West Knoxville home. What could be better than that?
3. West Knoxville homes prices at 2005-06 levels — when you purchase a West Knoxville home, you’re paying approx. 2005-06 home prices. How would you like gas, food, and car prices to be at 2005 levels? I don’t know about you, but I’d love to pay only $1.55 a gallon for gas (2005 gas prices). We may never see West Knoxville home prices this low again.
| Discussion: No Comments »
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.
| Discussion: 2 Comments »
5 Reasons To Buy A West Knoxville Home Now
November 5th, 2011 categories: Buyers, Existing Home Sales, Market Trends, Mortgage Rates
Are you thinking about buying a home in West Knoxville? With all the bad press about buying a home in today’s current market, it can be easy to forget the reasons of why it can be great to own a home. If you are thinking about buying a home in West Knoxville, but are still on the fence about making the descision, here are a few reasons that might convince you otherwise.
- Right now, you can get a great deal on a West Knoxville home. There is no denying right now is a great time to buy. Interest rates are at historic lows. Instead of being in the high 6.0% interests rates, rates are significantly lower in the 4.0% range. Also, home prices are at historic lows. In 2009, the average sales price of a 4 bedroom home was $308,500. In 2011, the average sales price for a 4 bedroom house was $251,500. That’s $57,000 drop in price in 2 years. For someone planning to stay in the Knoxville area, right now is the time to buy a home. Low prices and interests rates = big savings!
- The monthly mortgage payment you currently make on your West Knoxville home will remain the same. So long as you have a fixed rate mortgage, you payment will be the same in 5 years, 10 years, and beyond. Knowing what your monthly payment will be down the line, allows you to plan and budget more easily. Read the rest of this entry »
| Discussion: No Comments »
Knoxville Real Estate Deal What’s Yours?
November 2nd, 2011 categories: Buyers, General, Market Trends, Mortgage Rates, Sellers
It seems like every buyer I work with today one of the first things they tell me is “I want to get a deal” or “I want to steal
a home and get a really great price”….So I started turning the question around to them and asking them What do you mean you want to get a deal? What does getting a good deal mean to you?
I tell them everyone has a different definition on what a deal means to them. I want to know what it means to you so we can try and accomplish that goal together. Then I just sit back and listen and ask questions so I can better understand my buyers needs. Since I started doing this it is amazing what people consider to be a deal or value to them. But that is why it is important to find out what my buyers are wanting in a home so I can better understand their wants needs and desires in a home.
| Discussion: No Comments »
West Knoxville Homeowner Trying To Decide To Sell Or Refinance?
September 9th, 2011 categories: Buyers, Market Trends, Mortgage Guidelines, Mortgage Rates, Sellers
West Knoxville Homeowner should they sell or Refinance..?? Ask yourself these 3 questions..
I was recently on an appointment at a past clients home in West Knoxville. They had bought a home from me in 
Farragut a few years ago and were considering either moving or refinancing their current home. They didn’t know what they wanted to do move or refinance they just wanted to take advantage of the low rates either way.
We looked at some homes in the West Knoxville neighborhoods they were interested in moving to if they decided to sell their home. They were comfortable if they decided to sell they could find another home that would fit their needs.
Now they had to address the question of refinancing and staying in their current home. I told them them there are 3 questions they need to ask and explore to see if that was the best option for them.
Here are 3 questions to consider when you are thinking about refinancing:
| Discussion: No Comments »
Part Three: Renting Vs. Buying in Knoxville
September 2nd, 2011 categories: Buyers, Mortgage Guidelines, Mortgage Rates, Sellers
In Part I of the blog post series, “Renting Vs. Buying in Knoxville,” we compared the price of buying a home in Knoxville versus that of renting an apartment. And, in Part II, we looked at the benefits of renting. In this blog post, we will look at the many great benefits of buying a home.
Here is a list of reasons why buying a home might be the right choice for you.
- When you buy a home, you building equity over time. When you rent an apartment, the money you pay for rent you will never see again. With the median rent in Knoxville being $637, that is $7,444 each year, $38,220 every five years that you will never see again. Money put into your home is an investment for the future.
- There are many tax benefits to buying a home in Knoxville. Homeowners can deduct the following from their gross income: mortgage interest payment [for mortgages below $1 million or $500,000 if married and filing separately], property taxes, loan origination fees, and loan prepayment penalties. Also, profits from selling your house can be excluded from your taxes up to $250,000 if filing as single and up to $500,000 if filing as married.
Read the rest of this entry »
| Discussion: No Comments »
7 Reasons To Buy A Knoxville Home Now!!
November 17th, 2010 categories: Buyers, Existing Home Sales, General, Market Trends, Mortgage Rates
You can get a house at a bargain price now — especially if you play hardball. This is a buyer’s market. Most of the other buyers have vanished since the tax credits on purchases expired.
We’re four to five years into the biggest housing bust in modern U.S. history. We have been lucky in Knoxville compared to other parts of the country and haven’t seen huge price drops but our prices are down.
Will prices fall further? Sure, they could. You probably won’t catch the bottom, but it doesn’t really matter so much in the long haul.
You can get a 30-year home loan for about 4% range on 30 year mortgages. WOW!! What’s not to like? These are the lowest rates on record. As recently as two years ago, they were about 6.5%. That difference in monthly payment is huge.
If inflation picks up, you won’t see these mortgage rates again. And if we get deflation and rates fall further, you can refinance.
| Discussion: No Comments »
Will The Interest Rates Fall In Knoxville??
November 5th, 2010 categories: Buyers, Market Trends, Mortgage Guidelines, Mortgage Rates
Will Rates Go Lower?
What More Quantitative Easing Could Mean
Historic, low home loan rates have been about the only thing stable in the economy these days. This low level mark breeds complacency, especially with the buzz in the air that rates may go even lower. But
the question hangs in the air like humidity on a southern summer day – will rates go lower? And if there is a chance, should you wait and see or move forward now?
More Quantitative Easing
The buzz that began earlier this fall stemmed from talk coming out of the Federal Reserve that they were considering another round of Quantitative Easing in an effort to stimulate the sluggish economy.
| Discussion: No Comments »
Fed Minutes Edge Mortgage Rates Higher
October 14th, 2010 categories: Buyers, FOMC Minutes, General, Market Trends, Mortgage Guidelines, Mortgage Rates, Sellers
The Federal Reserve released its September 21, 2010 meeting minutes Tuesday afternoon. Mortgage rates in Tennessee are slightly higher today.
It’s unwelcome news for this season’s home buyers, and existing homeowners with plans to grab lower rates. Mortgage rates made new lows last week and may have reached a turn-around point.
The “Fed Minutes” is published 8 times annually, and is the official meeting recap for the Federal Open Market Committee. Similar to the meeting minutes released after a corporate conference or condo association gathering, the Fed Minutes details the conversation and debate between meeting attendees.
Minutes are the lengthy companion to the Fed’s brief, post-meeting press release.
| Discussion: No Comments »
