*This Knoxville real estate trends report is for single family homes in the Knox County market area and does not include condos. Data Source: KNOXVILLE AREA ASSOCIATION of REALTORS®; information deemed reliable, but not guaranteed.

If you have any questions about Knoxville Real Estate, please don’t hesitate to call or email.

There are a few things you can do that will make an incredible difference to your Knoxville home when it comes time to show it. Let’s take a look at the potential buyer’s viewpoint as they first enter your home in the Knoxville area. What are the first things they are going to notice according to their senses?

Smell - A buyer’s sense of smell will be stimulated by any strong odors and this can turn them off the home in Knoxville completely. Remember to change the kitty litter if you are a cat owner, and don’t cook any foods with a strong odor before a showing. Of course, there are some baking smells that are very pleasant, such as bread or cinnamon rolls, and that is the kind of odor that can add to the overall appeal of the home.

Sight - Take a look at the first things that your potential buyers will see as they walk in the front door. Usually it will be the front hallway, but depending on the layout of the house their eyes may be diverted quickly to another room. Pay special attention to these noticeable things and make sure they are clean and neat. If, for example, you believe the front hallway floor is an initial focal point, then make sure it is spotless for their arrival.

Hearing - When your guests first walk in you should make sure that there is no loud music playing. You can put on some low music that you feel adds to the atmosphere of the home, or drowns out the sound of the neighbor’s dog barking, but usually the sound of quiet is preferred. This allows open communication between the buyer and real estate agent. It is communication, above all else, that is the most important part of selling and buying a Knoxville home.

There is a lot of free information available to you about buying, selling or investing in Knoxville real estate. For complete information about the Knoxville real estate market including current Knoxville TN homes for sale, property values and more please visit the most complete website online dedicated to everything Knoxville real estate at www.davidhamilton.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 865-224-6631 or send me an email.

Many people these days are thinking about buying a home in Knoxville TN, and that’s great. Knoxville TN is a very attractive place to live, so it’s no wonder that people are considering buying a home here. However, purchasing a home sometimes isn’t the easiest of tasks. It’s certainly not at all like running to the corner store and picking up a gallon of milk.

Purchasing a home in Knoxville TN can sometimes take some preparation, and you may need to know a few things before purchasing a home. Here are some top tips for buying a home in Knoxville TN.

First, hire a professional. These days the Internet provides access to an almost unlimited number of home listings. However, it’s still better for many first time and even more experienced homebuyers to get the help of a professional when purchasing a home. You want to contact a real estate agent who is very knowledgeable about the Knoxville TN real estate market. Such an agent should work exclusively for you and have your best interests at heart. A professional and knowledgeable agent can help to answer all of your questions about the home buying process. An agent can also help you during the bidding process.

Another great tip for selecting a home in the Knoxville TN real estate market is to take your time and think carefully when thinking about the difference between points and interest rates. Oftentimes, a lender will give you the option to pay additional points in exchange for a lower interest rate. Usually the points are a part of the interest that is paid at closing. Paying points is a good idea if you plan to stay in the home for a long time, typically three to five years. That’s because over the long haul, a lower interest rate will save you a lot of money.

Furthermore, you may want to seriously consider getting pre-approved for a loan before you go house hunting. This can save you the frustration of looking at homes that you may not be able to afford. Also, when you finally find the right home, you will be in a much better position to make an offer to purchase a home in Knoxville TN.

One last big tip when shopping for a home in Knoxville TN is to make sure you begin your shopping by keeping in mind the type of home you really can afford. In general, it’s a good rule to purchase a home that is about two and a half times your annual salary.

5 Steps to Becoming a Homeowner

Out of all of these tips, one of the most important by far is to make sure you contact a real estate agent for all of your housing needs. You could try to search the web for listings yourself, but without the support of a licensed agent, you’ll be at a great disadvantage. Your perfect dream home in Knoxville TN is waiting for you. For more information about the Knoxville TN real estate market please visit the Knoxville TN real estate website at www.LivingInKnoxvilleTN.com. You can contact me with any of your real estate or mortgage related questions. Call me on my cell at 865-310-0636 or Toll-Free at the office 1-800-747-0713.

David Hamilton
FERGUSON REALTORS
865-690-1300 Office

A home inspection is one of the first investments a buyer makes in a property. The purpose of a home inspection is to check out the house for potential problems before the buyer purchases the home. Many Knoxville real estate purchase offers contain a home inspection contingency clause.

A typical home inspection can last up to three hours. The home inspector makes a thorough examination of the accessible areas and systems of the property. The fee for a home inspection in the Knoxville TN area covers a standard list of items. If additional tests are requested or required, an extra charge may apply. A radon test is an example of an additional test.

A home inspector will take you through the home step-by-step, pointing out potential and necessary repairs. This information can be invaluable when negotiating the purchase price of the home. The inspection also gives the buyer a fantastic opportunity to become familiar with the details of the systems of the home.

The standard systems of the home to be inspected include the structure, electric, heating/air conditioning, and plumbing systems.

The framing and foundation of the home is considered the structure. The heating and air conditioning system will be tested during the inspection. The vent systems will also be examined.

The plumbing system will be tested including all fixtures and faucets. Drains and plumbing vent systems will be inspected. If the home has a sump pump, it too will be tested.

In addition to the standard systems, the home inspector will inspect all accessible areas of the home including the exterior, interior and basement of the home.

The exterior inspection includes the roof, foundation, doors, decks, balconies, porches, and any walk-ways or driveways leading toward the entrance of the home.

The interior inspection includes walls, ceilings, floors, stairways and railings, basement, doors and windows. Additionally, the home inspector will test major kitchen appliances such as the oven, stove, and microwave oven.

After the inspection you will receive a comprehensive report and supplemental material. This educational material is often in the form of a book or electronic document. The report will list any issues uncovered during the inspection.

Ferguson Realtors recommends hiring a professional home inspector. Contact David Hamilton by email or cell at 865-310-0636 for a list of home inspection companies in Knoxville TN. This article is a brief overview of the benefits of a home inspection. For more information about what to expect during a home inspection please feel free to contact me.

Free information about buying, selling or investing in Knoxville real estate is available. Visit the most complete website online dedicated to everything Knoxville real estate at www.LivingInKnoxvilleTN.com. Complete information about the Knoxville real estate market including current homes for sale in Knoxville, property values and much more is just a click away. Please feel free to contact me with any of your real estate or mortgage related questions.

There are many different types of mortgage loans available to today’s Knoxville TN homes buyer. A buydown mortgage may be the key to affording your dream home.

Permanent and temporary buydown mortgages are financial tools used by lending institutions to reduce the interest rate on a mortgage loan. With this type of financing extra points (sometimes called discount points) are paid upfront at closing. In simple terms, a point is equal to one percent of the principal loan amount total. A buydown is an upfront payment. The purpose of this payment is to enable the financial institution to lower the monthly payments. A buydown is sometimes used as a tool to enable the buyer to qualify for a mortgage.

Buydown mortgages have many benefits.

Temporary buydown mortgages appeal to the home buyer who has prospects for a substantial income increase in the next few years. For example a spouse may currently be in school, but upon graduation will have excellent employment prospects. A temporary buydown mortgage allows the buyer to make lower monthly payments during the first few years of the loan. During these years the interest rate is lower than the actual mortgage loan rate. This results in lower monthly payments early on in the life of the loan. Buyers with lower monthly incomes can qualify for larger loans with this strategy. In general, a buydown mortgage allows the buyer to own more house for the money. In some cases it is the best way to qualify for any loan because of the lower interest rate.

A permanent buydown mortgage reduces the interest rate of the mortgage for the entire life of the loan. This reduction of the interest rate will cost the buyer several points at closing. More information about buydown mortgages is available at www.davidhamilton.com.

There are many financing options available to home buyers in the Knoxville TN Homes area. Contact David Hamilton to get advice for your specific mortgage needs.

Free information about buying, selling or investing in Knoxville real estate is available. Have questions? Feel free to call me with your real estate or mortgage related questions at 865-690-1300 or by cell at 865-310-0636. Complete information about the Knoxville real estate market including current Knoxville TN homes for sale, property values and more is available online at www.davidhamilton.com.

David Hamilton
Ferguson Realtors
865-690-1300 Office

Time is set to expire on the $8,000 first time home buyer tax credit soon. Find out more NOW at the Knoxville TN houses website.

David Hamilton
Ferguson Realtors
865-310-0636 Cell
865-690-1300 Office

Selling your condo in Knoxville is probably one of the biggest financial transactions you’ll ever make. Of course you want to do it right. You also want to walk away at the end of the day with the most money possible. Should you hire a real estate agent that markets Knoxville condos for a living, or should you sell privately and go FSBO? Let’s look at both sides of coin.

On one hand, by not working with an agent you save yourself the commission that real estate agents collect. You have complete control over the process. You get to meet all the buyers and negotiate for yourself. You decide everything for yourself.

The two most common reasons people opt for a FSBO sale is that they want to be in control and they don’t want to pay commissions. That sounds great; but let’s look at the other side of the coin.

Real estate agents have spent hundreds of hours learning how to negotiate, how to market and how to sell condos in Knoxville. If you’re working with a good agent, chances are they have a lot of experience selling homes just like yours.

When it comes down to it, the statistics tell the real story.  The reality is, 88% of FSBOs will not sell and end up listed with a real estate agent anyway. Furthermore, sellers that work with real estate agents generally get at least 6% more on their bottom line, which includes paying out commissions.

The reality is, most sellers working with a real estate agent will result in a faster, more profitable sell. That said, working with an agent may not be for everyone. If you truly believe you can sell the home faster and more profitably or if you must be in control of the process yourself, then perhaps a FSBO sale really is for you.

On the other hand, if you want to get the most money for your condo in the fastest possible time frame, your best bet is probably to work with an experienced real estate agent.

Visit the Knoxville condos website for more information about buying or selling Knoxville condominiums. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions.

David Hamilton
Ferguson Realtors
865-310-0636 Cell
865-690-1300 Office

If you’re considering purchasing a house in Knoxville TN, there are several home buying mistakes you should be aware of, so you can be sure you can avoid these mistakes. These mistakes are common and cost home buyers thousands upon thousands of dollars every year. These mistakes are buying too much house, not having padding for hidden costs and not getting the house inspected.

Mistake #1 – Buying Too Much House

This is by far the most common real estate buying mistake. Most people believe that lenders will only approve you for as much house as you can afford. For example, they may pre approve you for up to $2500,000. That does not mean you should buy a $250,000 house!

Instead, it’s important to calculate how much you can really afford. Make this calculation both based on the down payment and the monthly payments. Be conservative with these numbers.

Mistake #2 – Not Accounting for Hidden Costs

Closing costs, inspection costs, repairs and last minute costs tend to always surprise first-time buyers. Buyers who go into a real estate transaction with only enough money for a down payment often run into the problem of not having funds for last minute costs.

To save yourself the stress, put away a little extra cash and improve your home buying experience. It’s important to have some spare padding cash to help ensure the home buying process goes smoothly.

Mistake #3 – Not Having the Home Inspected

Having the home you’re buying inspected is absolutely crucial. Although this may seem like common sense, thousands of lawsuits are filed every year over property issues discovered after the purchase that could have been found if the buyer had just gotten an inspection.

The few hundred dollars an inspection costs are well worth the money. On top of the inspection report, you also get to ask the inspector any questions you need about the plumbing, electrical systems and foundations, so that you can really get peace of mind with your purchase.

There is a lot of free information available to first time home buyers about buying Knoxville Tn houses by visiting the Knoxville Homes website @ www.davidhamilton.com.

David Hamilton
Ferguson Realtors
865-310-0636 Cell
865-690-1300 Office

The closing process is the last step to purchasing or selling Knoxville real estate. The process can often be intimidating because of how much legal paperwork there is involved. In this article I’ll walk you through the process so that the closing process will go much smoother for you.

1. Homeowner’s Insurance
Insurance is always necessary to get the mortgage. Remember to get homeowner’s insurance and bring proof to the closing.

2. Gather All Your Paperwork
Make sure you have all your paperwork in place the day before closing. Review all your paperwork to make sure that everything is in order.

3. Have Your Inspections Completed
Have the property inspections completed when you come to escrow. If there are any repairs that are necessary, make sure they’re in writing.

4. Have Title Insurance
It’s important to get title insurance for your home purchase. Title insurance insures that the title on your property is clean.

5. Get Approval of Mortgage
At this point, your mortgage should be approved so that you can get your loan to pay for your new property.

6. Bring Your Cashier’s Check
The amount necessary for closing the on your new home should always be in the form of a cashier’s check.

7. Clear All Contingencies
At this point, all contingencies and clauses should be cleared so that you can go ahead with the transfer of the deed.

8. Understand Your Closing Costs
Before closing, it’s important to have a good idea of what your closing costs are. It’s also important to know who will pay the closing costs. Unless otherwise stated, usually the buyer pays the bulk of closing costs.

Following these tips should make the whole closing process go much smoother for you. Remember to talk to your real estate agent and your loan officer about the closing process, as they’ve both been through the process many times.

More information about the Knoxville home market is available by visiting the Knoxville Real Estate website.

David Hamilton
Ferguson Realtors
865-690-1300 Office
865-310-0636 Cellular