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Thinking About Selling Your House, but Worried It’s the Wrong Time of Year? You may have heard that spring is the ideal time to put your house on the market. While generally speaking that may be true, here are some other things to consider beyond just what the calendar says. Buyer’s Market or Seller’s Market? The time of year may not matter as much, or even at all, depending on whether the current circumstances make it a buyer’s market or a seller’s market. In a buyer’s market, as you might guess, the housing situation benefits the buyer more than the seller. There are typically a lot of available houses to choose from. So many in fact, that the number of houses for sale usually exceeds the number of buyers looking to purchase them. When this happens, houses often sit unsold for much longer periods of time. Even those that do sell often go for less than the seller’s asking price. On the other hand, in a seller’s market there are more buyers out there than there are house

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There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has beendefined as an “overwhelming lack of supply,”and even a “straight up inventory crisis.” First American just released the results of asurvey which sheds light on the reasons for the current lack of supply. The survey asked title agents and real estate professionals to identify what they believe are the top reasons for this lack of inventory in their markets. Here are the results of the survey: 47% – existing homeowners are worried that they will not be able to find a home to buy26.5% – first-time buyer demand is absorbing a large share of available homes11.3% – existing homeowners’ mortgage rates are lower than the current rates10.6% – insufficient or negative equity in the home4.6% – foreign buyer demand is absorbing a large share of available homes As the survey revealed, there is a shortage of current homeowners willing to put their homes on t

Hiking Around Sevierville GREAT SMOKY MOUNTAINS NATIONAL PARK The 'great' outdoors got their name from the Great Smoky Mountains. Well, maybe not really, but they should have. The Great Smoky Mountains are Sevierville’s backyard and America’s most visited national park. Come on over and play. With 800 miles of maintained trails, Great Smoky Mountains National Park offers hikes for everyone from strenuous all day and overnight hikes to quick and scenic “stretch your legs” walks. Don’t like to hike? The Great Smoky Mountains offers ample opportunities for scenic auto tours, picnicking, fishing and horseback riding. The Great Smoky Mountains National Park also offers educational programs for children and adults that let you learn even more about the bio-diversity of this International Bio Sphere Reserve. The Great Smoky Mountains National Park is free to enter and enjoy. HIKING TIP: Pick up a hiking guide for the Great Smoky Mountains when you enter town at the Sevierville

Millennials are the largest group of home buyers for the fourth consecutive year, according to the National Association of Realtors 2017 Home Buyers and Sellers Generational Trends Report. Nearly 40% of home buyers were under 36 years old. So what’s driving the change in millennial home ownership? Forty-nine percent of millennial buyers had at least one child, also according to the report. That is up six percentage points from two years ago. Also, while millennials are not racing down the aisle, they are purchasing homes with their partners. Though marriage rates declined, the number of U.S. adults in cohabiting relationships reached nearly 18 million last year, up 29% since 2007. About half of those cohabiters (those living with an unmarried partner) are younger than 35. But most importantly, in a joint Real Estate Investment Survey with Harris Interactive, RealtyShares found that 55% of millennials are enthusiastic about home ownership as an investment, and over half would invest i

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment. Bankrate asked Americans to answer the following question: “What is the best way to invest money you wouldn’t need for 10 years or more?” Real Estate came in as the top choice with 28% of all respondents (3% higher than last year), while cash investments – such as savings accounts and CD’s – came in second with 23% (the same as last year). The chart below shows the full results: The article points out several reasons for these results: “After bottoming out at the end of 2011 following the worst housing collapse in generations, home prices have gone gangbusters recently, climbing back above their record pre-crisis levels. Prices jumped 6.6 percent during the 12 months that ended in May, according to CoreLogic. Toss in persistently low interest rates, tax goodies that come with owning a mortga

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal. If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank. Every month in their Home Price Perception Index (HPPI), Quicken Loansmeasures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, as compared to an appraiser’s evaluation of that same home. Bill Banfield, VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:  “While a 1 or 2 percent difference in home value opinions may not seem like a lot, it could be eno

Short Term Rentals: What Hosts and Guests Need to Know Websites like Airbnb, Bookings.com and Homeaway have made it easier than ever to rent out your home or apartment to guests. For travelers, these websites make booking a stay easy and offer competitive rates. There are some important legal considerations for both the hosts and guests who use these websites. These include local regulations, liability insurance coverage and protecting yourself from scams. The following tips will help you avoid common problems and make informed decisions.  If you have any legal questions contact your LegalShield provider law firm. 8 Legal Tips for Summer Travel Important legal questions are often forgotten during the frenzy of summer travel. Whether you are driving, flying or taking a cruise, it is important to be prepared. These tips will help you be ready for the unexpected.  Call your LegalShield provider law firm if

Selling a home can be a very stressful process and if a homeowner is attempting to prepare and sell their home with a small budget, the stress is magnified.  There are many homeowners who simply do not have the capital to spend on preparing their home for the market. It’s pretty obvious that a homeowner who has the ability to remodel their kitchen with granite counters, update their bathrooms, and install a new roof prior to listing their home has a much better chance to sell their home quicker.  This does not mean that the seller is going to end up with more money in their pocket after you consider the amount of money they’ve spent on updates and improvements. If you’re looking to prepare and sell your home but don’t have boatloads of money, take a deep breath,  it can be done .  By following some simple  tips for selling a home on a budget , you’ll be on your way to a successful home sale without having to break your piggy bank. Below you’ll find out what some of the lo

When you’re looking for a home in a seller’s market, you need a plan in place to avoid making mistakes. The real estate market often fluctuates, making it tough to predict whether the market will favor buyers or sellers when it’s your turn to buy. Buyers in a seller’s market can get what they want, but they need to bring their “A” game and be decisive. Here are six common mistakes and how to avoid them. Not making your best offer The motivation to buy what we want for as little money as possible is deeply engrained in us. So when most people see the listing price of a home, they naturally wonder what they can really get the house for. Offering lower than asking price is a reasonable strategy, especially if the house is overpriced compared with other similar homes in the area, or if it’s a buyer’s market with lots of available inventory. But trying to get a deal when you’re in a seller’s market might not be the best tactic. “In a seller’s market, many buyers do not step up with a str

Spring housing: 'Strongest seller's market ever' Even as more homes come on the market for this popular sales season, they're flying off fast.Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are in the driver's seat. Story by : Diana Olick Spring homebuyers are pounding the pavement at a furious pace, but the pickings are getting ever slimmer. Even as more homes come on the market for this traditionally popular sales season, they're flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver's seat. "I've been selling real estate for 25 years and this is the strongest seller's market I have ever seen in my entire real estate career," said David Fogg, a real estate agent with Keller Williams in Burbank, California. "A lot of our sellers are optimisticall

Favorite warm- and cool-season vegetables at a glance plus growing season basics Vegetables are designated "warm-season" or "cool-season," depending on the weather they need for best growth. Warm-season vegetables, such as peppers and tomatoes, are summer crops; they require both warm soil and high temperatures to grow and produce fruit. They are killed by frost. Plant them after the last frost in spring. Cool-season vegetables grow steadily at average temperatures 10° to 15°F/6° to 8°C below those needed by warm-season types. They can be planted in very early spring for early summer harvest or in late summer for harvest in fall and (in mild regions) winter. Many will endure short spells of frost ― but in hot weather, they become bitter tasting and often bolt to seed rather than producing edible parts. In areas with short growing seasons (fewer than 100 days) or cool, foggy summers, cool-season vegetables can be grown in summer. A few vegetables are perennials:

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DO YOU LIKE "ROLLER COASTERS"? The career of a Realtor can sometimes be described as a "roller coaster". Anticipation of having a client, then working with your client diligently, then don't find the "just right" place. OR anticipation of having a client, then working diligently with them & HOORAY we find the  "just right" place, then financing falls through. OR anticipation of having a client, then working  diligently with them, HOORAY find the "just right" place, waiting the 45 days for the  paycheck on closing day and all is GREAT!!!  Ups and downs of our industry are mind  boggling. Commission based careers are tough. Emotions are high & low. Always have to have  your sights on the master for guidance, so that the lows don't do you in or the highs give  you the expectation for every day to be the same high! Balance, how do we find that on a  Roller Coaster?  My first and only roller coaster ride happened

The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the availability of mortgage credit each month with theirMortgage Credit Availability Index (MCAI). According to theMBA, the MCAI is: “A summary measure which indicates the availability of mortgage credit at a point in time.” The higher the index, the easier it is to get a mortgage. Here is a chart showing the MCAI over the last several months as rates have increased. Have requirements for attaining a mortgage actually eased? Yes. Here are two examples: FICO® Score – the credit score which helps determine a buyer’s eligibility. The score required to attain a mortgage has been falling over the last five months: Down Payment Requirement – th

Tip #1: Wash Your House’s Face Before you scrape any paint or plant more azaleas, wash the dirt, mildew, and general grunge off the outside of your house. REALTORS® say washing a house can add $10,000 to $15,000 to the sale prices of some houses.  A bucket of soapy water and a long-handled, soft-bristled brush can remove the dust and dirt that have splashed onto your wood, vinyl, metal, stucco, brick, and fiber cement siding. Power washers (rental: $75 per day) can reveal the true color of your flagstone walkways. Wash your windows inside and out, swipe cobwebs from eaves, and hose down downspouts. Don’t forget your garage door, which was once bright white. If you can’t spray off the dirt, scrub it off with a solution of 1/2 cup trisodium phosphate — TSP, available at grocery stores, hardware stores, and home improvement centers — dissolved in 1 gallon of water.  You and a friend can make your house sparkle in a few weekends. A professional cleaning crew will cost hundreds — depend

  Congrats to Wendy Booth was awarded once again Realtor of the month.. Show you appreciation.. www.mountainrealtygroup.com

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