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?

So what makes this such a strong selling point for your West Knoxville home? Think about it. The kitchen is essentially the heart of every home. It is where meals are cooked and families come together to eat and share their day. When entertaining guests the kitchen is one area of the home guests are likely to see. And, in many new floor plans the kitchen is one of the main focal points of the home, opening up into family rooms and other areas of the house, making it an area where entertaining  guests happens.

Wondering how you can make your kitchen a strong selling point of your West Knoxville home?

Do your research. You want to have a great kitchen for your price range. Spending costless dollars on an upgraded kitchen is great, but if it increases the price of your home significantly compared to others in your West Knoxville neighborhood, it could have a hard time selling. Check out MLS listings, open houses, or talk to a realtor in your area to see what these homes have to offer. What upgrades do they have? What upgrades don’t they have?

Match the competition. By doing research of homes prices in your West Knoxville neighborhood, you will learn what upgrades you do and don’t need to make. Do they have upgraded appliances? What type of cabinets and countertops do they have? Or, does you kitchen just need some de-cluttering and a fresh coat of paint? Figure out what changes you need to make and find the most cost effective way to make the changes. And, you may be able to do some of the work yourself.

The key to achieving a great kitchen is know your market and make the necessary changes. Spending the time and the money making the necessary upgrades can make all the difference in selling your West Knoxville home. Please let me know if there is any information I can provide about selling your West Knoxville home, you can give me a call at 865-696-9002 or shoot me an email. What are you doing to make your West Knoxville home more marketable?

• In 2011, there were 1,887,777 foreclosure filings (including default, auction, and bank repossession notices) in the U.S. Though, 1.9 million homes seems like a daunting number, it is actually the lowest it has been since 2007. The 1.9 million homes that went into foreclosure in 2011 is down 34% from 2010, 33% from 2009, and 19% from 2008.
• Nationally, in December 2011, 1 in every 634 homes received a foreclosure filing. The Knoxville real estate market fares significantly better than the national ranking. In Knox County, 1 in 1136 homes received a foreclosure notices. To see how other East Tennesee counties fared, check out the Foreclosure Rate Heat Map on RealtyTrac.com.
• Scheduled auctions hit a 49 month low in December. It was down 19% from November 2011 and 20% from December 2010.
• Default notices were also down in December, down 19% from November, and down 23% from December 2010.
• Still, despite what shows to be a decrease in foreclosure filings for 2011, RealtyTrac also reported that the time table for foreclosure proceedings has actually increased in 2011. Foreclosure filings took an average of 348 days in the fourth quarter of 2011, up from 336 days in the third quarter in 2011, and up from 305 days in the fourth quarter of 2010.
• In the state of Tennessee, the foreclosure process takes less than two months, with a process period of 40-45 days and a sale publication of 20-25 days. The state with the longest foreclosure process is New York, which takes an average of 1,019. New York is closely followed by New Jersey, which takes on average of 964 days.

What do you think these numbers mean for the Knoxville real estate market, and other areas of the nation?

So what exactly is the FHA anti-flipping rule?

The FHA anti-flipping rule does not allow homeowners, who have an FHA insured mortgage, to sell their homes any sooner than after 90 days of home ownership. The Federal Housing Administration, under the Department of Housing and Urban Development, instated this rule to prevent properties from being sold at artificially inflated prices by a seller, who purchased them for significantly less. With foreclosures being so prevalent, the rule was put into place to protect home buyers from artificially inflated prices.

What does this mean for people buying or selling their home in Knoxville?

It means that Knoxville home buyers and seller are not longer constrained by these regulations, at least through the end of the year. The waiver allows properties to sell as quickly as possible, hopefully allowing the real estate prices to stabilize, particularly in areas that have experience high foreclosure rates.

Are home buyers in Knoxville still protected from predatory property flipping?

The FHA still has strict regulations to ensure that Knoxville home buyers are protected against predatory property flipping. For example, there may be no link between the buyer and seller. In addition, if the sales price of the home exceeds an increase of 20% or more in sales price, the anti-flipping waiver will only be valid if the lender meets particular conditions and fully documents and justifies the increase in price.  A full list of rule and restrictions can be found here.

How do you feel about the FHA Anti-Flipping waiver? Does it benefit people buying or selling their homes in Knoxville?

The best answer to this question is answered with a question: When is the best time for you to sell your West Knoxville home? With this response, most sellers react with a very confused looked or perhaps a snarky remark. How can such a serious question be answered with a question?

Let me explain.

Regardless, the time of year. Regardless, of what homes are for sale in West Knoxville. Regardless, of what the real estate market is like. There are always buyers who are looking to buy, especially in this market with so many great deals.

Can you remember when you bought your West Knoxville home?

You knew it was time to buy that West Knoxville home. It might have been you had gotten a new job in the area, your family had grown large enough to require a new home, or that you were simple sick of renting. Whatever the case was, you were ready to buy and you were about to find a home and neighborhood that met your criteria.

The same is true today, there are other people out there who are ready to buy right now.

Still, going into the winter months when the Knoxville real estate market is slower, is it still a good time to sell your home?

It all depends. Some sellers will take their homes of the market and put them back on the market in the spring, for fear that the winter months will be too slow for their home to sell. But there are still buyers out there, who need to buy out of pure necessity or because they are truly motivated. Keeping your home on the market, could be to your benefit, there could be less competition.

So, what’s the bottom line? The best time to sell is when you are ready to sell. I would be more than happy to help give you and honest and true assessment of your home in the current real estate market, or answer any questions you may have about selling. In the current market, people are buying homes, but in order to sell your home, you need to be flexible and patient. Feel free to give me a call or shoot me and email. I’d love to help in anyway that I can.

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?

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.

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.