House Hunting Tip

You can make the home buying process go much smoother for yourself and your agent if you can answer these 10 questions in the beginning:

  • Why buy and why buy now
  • Are you working with a lender
  • How many houses have you looked at already
  • How do you prefer to be contacted
  • What if we found the perfect house tomorrow
  • What are your three favorite neighborhoods
  • What is your favorite room in the house
  • How important is outdoor/garage space
  • How long do you think that you’ll live in the house that you buy
  • What is a deal breaker for you
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Benefits of Using a REALTOR®

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here’s why it pays to work with a REALTOR®.

 

  1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

 

  1. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

 

  1. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.

 

  1. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

 

  1. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

 

  1. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.

 

  1. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.

 

  1. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, home buying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

Source: National Association of REALTORS®

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Why Is It Hard to Sell Without a REALTOR®

Why is it so hard to sell without a REALTOR®?

1. Determining the right listing price – Pricing a property correctly is probably the most important step when placing your home up for sale. If your home is not priced right, then you stand a slim chance of selling in a competitive market. A REALTOR® will have access to the sales data, plus their experience to best advise you on a proper listing price.

2. Buyer’s want your commission savings – One of the things most sellers don’t understand when deciding to go the FSBO route, is that many buyers know you are marketing you own home in order to save the commission, and they want a part of that savings. Many of the buyers will take 5% right off the top regardless of whether the home is priced well or not.

3. Availability for showings – It’s hard for many homeowners to be available to show their home at the time buyers want to look. Buyers can come at all hours of the day and night. Most serious buyers are looking at a number of homes within a given time period and are not willing to rearrange their schedule to accommodate an unworkable seller. One advantage of having a REALTOR® is they can take care of all showings, thus freeing you up to keep your life as normal as possible during the selling process.

4. Showing to unqualified buyers – It’s a waste of your time and the buyers if they are unable to obtain the financing needed to complete the purchase. If a REALTOR® is involved, in most cases only pre-qualified buyers will be looking at your home.

5. Negotiations & inspections – This is an area where an inexperienced seller can put their self at great risk. When your dealing directly with the buyer you can be put of the spot with answering questions and making decisions without thinking them over carefully. You might unknowingly commit to something without understanding all of the cost and time considerations. Negotiating buyer inspections on your home can be tricky as well. These are areas were a REALTOR® will look out for your best interest.

While it’s not impossible to sell your home on your own, you can see there are many pitfalls along the way if your not experienced. By hiring a REALTOR® studies have shown that you will usually sell your home for a higher price, and you will have someone on your side to make the process much easier.

 

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Pricing Your Home

  • Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?
  • Consider competition. How many other houses are for sale in your area? Are you competing against new homes?
  • Consider your contingencies. Do you have special concerns that would affect the price you’ll receive? For example, do you want to be able to move in four months?
  • Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your home’s value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute or ask your REALTOR® for some recommendations.
  • Ask a lender. Since most buyers will need a mortgage, it’s important that a home’s sale price be in line with a lender’s estimate of its value.
  • Be accurate. Studies show that homes priced more than 3 percent over the correct price take longer to sell.
  • Know what you’ll take. It’s critical to know what price you’ll accept before beginning a negotiation with a buyer.

Source: National Association of REALTORS®

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Advantages of Working With A REALTOR®

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here’s why it pays to work with a REALTOR®.

 

  1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

 

  1. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

 

  1. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.

 

  1. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

 

  1. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

 

  1. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.

 

  1. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.

 

  1. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, home buying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

Source: National Association of REALTORS®

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What is Appraised Value

  • Appraisals provide an objective opinion of value, but it’s not an exact science so appraisals may differ.
  • For buying and selling purposes, appraisals are usually based on market value — what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes.
  • Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value.
  • Appraised value doesn’t take into account special considerations, like the need to sell rapidly.
  • Lenders usually use either the appraised value or the sale price, whichever is less, to determine the amount of the mortgage they will offer.

Used with permission from Kim Daugherty, Real Estate Checklists and Systems, www.realestatechecklists.com

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BOATING SAFETY

2019 USCG Auxiliary Boating Class Schedule

FLOTILLA 12-08 – WATTS BAR LAKE

All Classes will be held at the Kingston Community Center
located at 201 Patton Ferry Road,Kingston, Tennessee.


March 12 & 14
From 5 PM to 9 PM each day


July 16 & 18
From 5 PM to 9 PM each day


October 8 & 10
From 5 PM to 9 PM each day

*** SEATS ARE LIMITED ***
CALL FOR RESERVATIONS

Bill & Linda White
865-376-4822

The Coast Guard Auxiliary on Watts Bar Lake is here to offer advice and suggestions on your boating safety.

Please do not hesitate to contact us if we can assist.

COST:$ 35.00 per person
Fees will be collected at the first class [cash or check only]


Youth under 18 years of age: [ID required] will receive a $ 20.00 discount and must comply with TN Mandatory Boater Education Law.

Couples/families who share course materials may attend for only $ 10 per additional person.


Source:
William “Bill” White – Watts Bar Lake Flotilla 12-08
US Coast Guard Auxiliary

Roger L. Smith – Watts Bar Lake Flotilla 12-08
US Coast Guard Auxiliary

Vessel Safety Inspection Schedules on Tellico Lake

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Helpful Info for Sellers

  • A clean uncluttered home sells
  • Homes priced right sell
  • Selling a home is inconvenient
  • Repairs left undone will cost you more money than the repair itself
  • Overpricing your home will help to sell your neighbor’s home
  • Buyers love to grill sellers that are present for home showings
  • Smelly homes sell for less money
  • Cash is not always king
  • Well maintained homes sell for more money
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REALTORS® Code of Ethics

The REALTORS®’ Code of Ethics was established in 1913 by the National Association of REALTORS®. It’s a set of rules that were established to raise the standards of professionalism and service in the real estate industry. The rules are divided into three areas: 1) a broker’s duties to his clients, 2) a broker’s duties to his fellow brokers and 3) a broker’s duties to the public. The current Code of Ethics contains seventeen articles.

Over its one hundred year history, the Code of Ethics has been amended and revised to keep up with the changing times. Local REALTOR® Associations are charged with enforcing the Code of Ethics and handing down punishment to those found to be in violation of one or more of the articles.

To keep REALTORS® up to date on the Code of Ethics, the National Association of REALTORS® requires all REALTORS® to take a training course on the subject every four years.

In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others.

Source: National Association of REALTORS®

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Reduce the Stress of Homebuying

Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

  1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.
  2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell. If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.
  3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.
  4. Accept that no house is ever perfect. If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.
  5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.
  6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.
  7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.
  8. Factor in maintenance and repair costs in your post-home buying budget. Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.
  9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.
  10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually over from 1998 to 2002, a home’s most important role is to serve as a comfortable, safe place to live.

Source: National Association of REALTORS®

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