According to Zillow’s 2017, 10 Hottest Housing Markets list, Knoxville, Tennessee ranked #7. The list also revealed that Knoxville’s expected home value appreciation for 2017 will be 4.4 percent, projected income growth will be 1.1 percent and it will have a projected unemployment rate of 4.7 percent.
- Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.
- Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
- Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
- Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
- Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?
Source: National Association of REALTORS®
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®.
- Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
- 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?
- 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.
- 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.
- 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.
- 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.
- 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.
- Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying 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®
In the majority of U.S. housing markets, buying is more affordable than renting. While housing values have been on the decline in recent years, rents have been on the rise as the demand for rental properties have increased.
If your currently renting, now might be the best time to purchase financially. Housing values are at all time lows along with interest rates. These conditions are not expected to continue indefinitely. In fact; housing values are already showing signs of rising along with interest rates.
You might be asking yourself; how much house can I buy, and will I actually be better off purchasing a home versus renting? Your best resource to get answers to these questions would be either a mortgage broker or your banking institution. They will be in a position to tell you how much house you would qualify for, how much cash you will need to close and what your projected monthly payment would be. Once you have this information, you’ll be able to make an informed decision.
If you’ve decided that now is a good time to buy a home, then the next step is to contact a REALTOR® who will assist you with the house hunting process through the closing on your new home.
Act today; don’t keep putting your future plans on hold.
The most common days for real estate closings are Fridays and the last working day of the month.
Here were the most popular days in 2014:
•June 30th (Monday)
•May 30th (Friday)
•August 29th (Friday)
•April 30th (Wednesday)
•July 31st (Thursday)
As you can see from the list, the spring and summer months are the most popular.
Source: National Association of REALTORS®
Leading Real Estate Companies of the World® is a network of over 500 of the very best real estate firms that are located in nearly 50 countries. These firms have 3,500 offices with 120,000 sales associates. In 2013 these firms had sales of $314 billion dollars representing over one million transactions, which placed Leading Real Estate Companies of the World® #1 in sales volume in the United States.
Sales volume numbers for 2013 were as follows:
Leading Real Estate Companies of the World® – $314 billion
Coldwell Banker – $267 billion
Re/Max – $221 billion
Keller Williams – $131 billion
Century 21 – $122 billion
Prudential – $114 billion
Berkshire Hathaway Home Services – $80 billion
Real Living – $44 billion
Sotheby’s International Realty – $28 billion
ERA – $22 billion
Realty Executives – $19 billion
Better Homes & Gardens – $12 billion
Firms affiliated with Leading Real Estate Companies of the World® can offer sellers global exposure of their home in addition to strong marketing expertise at the local level. Leading Real Estate Companies of the World® has the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, they expose your property to buyers on six continents ensuring more eyes are on your property. In addition they receive inbound clients from other affiliates around the globe who are interested in purchasing a home.
If you are looking for the best real estate firm to sell your home, then you need to consider a firm that’s affiliated with Leading Real Estate Companies of the World®.
Source: Leading Real Estate Companies of the World®
If you considering a career in real estate or a firm change; then check-out Ferguson Realtors at www.TopofKnox.com or give us a call at (800) 747-0713.
In addition to being a poor investment, these projects will often hurt the future sale of your home:
- Turning a bedroom into another type of space
- Installing an above ground pool
- Not keeping paint colors neutral
- Installing a hot tub
- Creating themed children’s bedrooms
When making changes or improvements to your home, always ask the question; how will this affect my home’s value and marketability when it’s time to sell?