Sevier County News and Reports 

   Since the invention of the internet, the home buyer as well as home seller has been inundated with information both accurate and false or vague. How is the typical consumer suppose to know what to believe and what is rubbish? Well I am going to try and publish what is fact based market reports from reliable sources about what the real estate market is doing nation wide as well as what is going on in the Sevier county Tennessee area .Also , I felt that some local news of what is going on in my local community might be of interest to those of you thinking of buying investment property,a vacation home or even making that permanent move.Along the way if I find some other information about relocating or building a home or new fashion designer homes, I thought I would go ahead and include that too. Just so you might find all this interesting enough to keep coming back to read and learn something or possibly to share your own individual wealth of knowledge! Look forward to hearing from You !

 

 

April 6, 2018

How to Stop paying Rent

How to Stop Spending Money on Rent and Own a Home Instead

 

If you’ve always rented a place to live, buying a home can seem like a monumental undertaking.  This report breaks down this home buying process into clear steps.

 

Seven Steps to Transition from Renter to Homeowner

 

Step One:  Identify Your Needs and Wants


Begin your search by considering the kind of home you need and want.  Write down your specific requirements, such as the number of bedrooms, size of yard, floor plan, location, schools, etc.

 

Step Two:  Determine How Much You Can Realistically Afford


Consider your budget and financial obligations.  Decide what monthly house payment you can really afford.  Most mortgage consultants advise limiting your payment to no more than one-third of your net monthly income.  If you’re unsure, contact your mortgage consultant to assist with the calculations.

 

Step Three:  Get Pre-Approved By a Mortgage Consultant

 
When you know in advance the amount of loan you can obtain, you can focus on searching for houses in your targeted price range.  This can save you time when you find that perfect home, because sellers favor buyers who are pre-approved.

 

Experienced mortgage consultants can let you know what specific loan programs are best for you.  By taking a look at your financial situation and credit history, a mortgage consultant will tell you if you can qualify for the home you want and will find a loan that best suits your needs.

 

For the approval process, you and your mortgage consultant will complete the required documentation and submit it to an underwriter.  A pre-approval is an actual loan commitment from a mortgage consultant or lending institution.  This means that you definitely qualify for a loan.  Talk to your mortgage consultant about the costs and time involved to secure pre- approval.

 

Step Four:  Work With an Experienced Real Estate Consultant


You can learn a lot about consultants by talking to them about their experience.  In a short time, you’ll be able to determine if they’re the right person to meet your needs.

 

Questions for Agents:

 

  1. In what areas of town and price ranges do you specialize?  (Keep in mind that some agents specialize in only one area or one price range.)

 

  1. My objective is to buy a house by ___________.   How will you help me achieve this goal? 

 

  1. How often will you update me with new property listings?

 

Step Five:  Tips for Successful House Hunting

 

  1. Keep an organized record of your research.  Write down comments about the homes you see.  Keep track of your likes and dislikes and offer feedback to your real estate consultant.  Some buyers are reluctant to tell an agent what they really think of a house; they think the agent might take it personally.  Remember, the homes don’t belong to the agent!

 

  1. Make sure your agent is aware of your time schedule and expectations.  Do you like to look at one or two homes per session?  Four?  Eight?  Discuss this with your agent.

 

  1. Tell your agent about any homes you see that interest you and that you’d like to know more about.  This includes homes you’ve "discovered" as you explore the area and those advertised in the newspaper and on the Internet.

 

  1. If you like to spend time driving around by yourself looking at houses, ask your agent for a list of drive-bys – homes to consider first from the outside.  Your agent can make appointments to show you the interior of the properties that appeal to you.

 

  1. It’s important to know beforehand whom your agent represents.  Some agents work only for the seller. 

 

Step Six:  Make a Purchase Offer

 

Work with your real estate consultant to determine the most appropriate purchase offer.  Your consultant will present the offer on your behalf.

 

Step Seven:  Save on Your Initial Investment and Monthly Payments


There are only two major investments to consider when buying a home.  These are the initial investment, which includes the down payment and closing costs, and the monthly payment, which includes principal, interest, taxes and insurance.  Here are some things to consider.

 

Initial Investment

 

  1. Choose a low or zero down payment loan.  You don’t necessarily have to put 20 percent or even 10 percent down.  You can pay 5 percent, 3 percent, or even zero down on some loans.

 

  1. Some Lenders have programs to cover your closing costs.  Ask your mortgage consultant about them.

 

  1. As part of your offer, ask your real estate consultant about the seller’s paying some of your closing costs.

 

  1. Shop around for your homeowners’ insurance.  A little comparison shopping can save you money.

 

  1. You may be able to deduct money paid for discount points from your gross income before computing your tax.  See a CPA for more information.

 

Monthly Payments

 

  1. Get a loan that doesn’t have monthly mortgage insurance premiums.  You may be able to reduce or eliminate them by paying a little more at closing.  By putting 20 percent or more down, you can eliminate them entirely.  Talk to your mortgage consultant about other ways to eliminate monthly mortgage insurance payments.

 

  1. Take advantage of rate lock programs that are currently available.  You can generally lock in a low interest rate 30 to 45 days in advance.  Secure an appraisal before you lock in a rate.

 

  1. Remember that interest payments on a primary residential mortgage are fully deductible.  Your property taxes are also deductible.  Tax rates definitely favor homeowners.  Be sure to declare both your mortgage interest and property taxes when you file your income tax returns.

 

  1. Consider an adjustable rate mortgage.  Adjustable rate mortgages (or ARMs) can be as much as 3 percent lower than fixed rates.  Only choose this option when you’re in a position to refinance, should the adjustable rate rise sharply.

 

CALL ME TODAY !

Posted in Buyer Need to Know
March 9, 2018

Fixer Upper vs Move in Ready

Posted in Buyer Need to Know
Nov. 9, 2017

Housing Bubble???

Bright IdeasHome buyers,and sellers are still remembering the 2007 meltdown of the housing and mortgage industries and I have been engaged in several interesting conversations about what is happening in my market in Sevier ,Jefferson,Blount,Cocke and Hamblen counties as to interest rates ,home prices and values and figuring out what to offer or what to price property at. Click Here for the facts from several industry leaders.

Posted in Market News
Nov. 2, 2017

I wanna see a Bear !

   Our visitors to the Great Smoky Mountains wish to see the famous Black Bears ,and many times they get their wish,whether it be on a trip to Cades Cove Loop ,going for a picnic at Chimney Tops ,staying in a cabin in  Sevier County

Black Bear in the Smokiesor even while shopping in downtown Gatlinburg ! Bear sightings can happen any time any where ! It is always exciting to see these beautiful creatures but remember ...... they are wild creatures which can be hazardous to you And them if they get too close ! Feeding bears or leaving trash out is bad for you And them. They will be destroyed if they bite you ,in spite of the fact that mostly,it is the human that causes death to the bear. So PLEASE ....keep your distance ! Enjoy,watch and photograph at a safe distance and if you should have a close encounter with the Black Bear take this advise (Click Here)

from the experts at TWRA.

Posted in Relocation
Nov. 2, 2017

Winterfest Time in Sevier County TN

      Celebrating thirty-three years of holiday lights,a large variety of activities both indoor and outdoor and celebrating Sevier County ,Winterfest is enjoyed by all ages and brings plenty of activity all winter long. welcome to Winterfest

    At one time the county ,for the most part shut down after Labor day making life hard for county residents to survive. Now with Winterfest continually adding more events and opportunities for our visitors ,here in the county,the fun doesn't stop ! If you enjoy shows,fine dining, outlet shopping,snow activities such as:snowboarding,skiing ,skating or even swimming during the winter....come to Sevier County Tn. We are open and waiting for you and your family !

Posted in Relocation
Oct. 27, 2017

7 Pricing Myths when selling your home

Once you have decided to sell your home,the next question is; What where and how do I price it? 

Here is a great article that will hopefully give you an answer.

7 pricing myths

Oct. 16, 2017

8 Things Home Sellers Should Never Reveal (Except To Their Realtor)

When homeowners decide to sell, they may find themselves justifying their choice to anyone who’ll listen. But, as the old saying goes, “Loose lips sink ships.”

In today’s world where sharing is the norm, sometimes keeping your rationale for making a move all to yourself is the right move. Though sellers would never intentionally want to harm their chances of securing the best deal possible, by being a little too honest, they can ultimately lose leverage when it comes to negotiating.

The following are 8 things home sellers should never reveal (except to their Realtor).

1. “These taxes are killing me!”

via GIPHY

No one enjoys paying property taxes, but watching them spike over time can be a huge turnoff for some homeowners — particularly those who don’t take advantage of public school districts or other amenities funded by tax dollars. Still, sellers who share that they believe they’re grossly overpaying will cause buyers to think twice.

2. “I just want to live in a quiet neighborhood.”

via GIPHY

Whether they’re surrounded by garage bands, screaming kids, or barking dogs, if sellers are moving to get a little peace and quiet, they’ll probably want to keep that info hush-hush. Even if would-be buyers seem like heavy metal head-bangers, sellers don’t want to let them know they haven’t had a good night’s sleep in months.

3. “The house needs a lot of work.”

via GIPHY

Old roof? Rickety porch stairs? Outdated kitchen? If sellers believe their home needs more TLC than they can handle, they shouldn’t discourage potential investors with their constant complaining. To DIY enthusiasts, the chance to purchase a “fixer-upper” may be just what they’re looking for.

4. “My neighbors are crazy.”

via GIPHY

Living alongside quirky neighbors can make life a little difficult. But just because sellers and the folks next door haven’t become BFFs, that doesn’t mean they won’t appeal to new residents.

5. “I’ve had some pest problems.”

via GIPHY

From spider infestations to termite troubles, these issues will likely turn up during a home inspection anyway. So, either deal with the pest problems ahead of time or prepare to hear about it when that report comes back. Either way, announcing it isn’t going to make the situation any better.

6. “I no longer feel safe here.”

via GIPHY

Safe can be a relative term. What feels like a dicey neighborhood to some may actually be a step up from where others lived previously. Buyers can do their due diligence by checking with local police departments for crime statistics.

7. “I have to move for work.”

via GIPHY

When sellers let everyone know that they absolutely must move, it could inspire potential buyers to make a low-ball offer. When there’s a sense of urgency or panic in a seller’s tone, it’s tempting for buyers to take advantage.

8. “We’ve outgrown this house!”

via GIPHY

Just because owners may feel as if their house has been shrinking over time, that doesn’t mean it won’t seem like a palace to someone else. Let the square footage speak for itself. That said, decluttering and staging can go a long way toward making even the most diminutive dwelling seem bigger.

Bottom line?

Deceiving potential buyers is never the goal (doing this can land you in legal trouble) — but there issuch a thing as “saying too much.” Don’t be a victim of your own words. Instead, let your Realtor do the talking for you.

Much like attorneys, Realtors are skilled professionals who know what to say, and when to say it. There are moral and legal parameters that dictate what should be disclosed, and you should give full reign to your Realtor in this regard.

Posted in Real Estate Humor