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47% of Existing Homeowners are worked that they will not be able to find a HOME

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 the mark…
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Trails to hike around Sevierville

Hiking Around SeviervilleGREAT SMOKY MOUNTAINS
NATIONAL PARKThe '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 Visitor Cent…

Millennials are the largest group

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 in p…

Best way to invest

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 mortgage, and the…

Today's Housing Market

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 enough to d…

SHORT TERM RENTALS: WHAT YOU MUST KNOW MOUNTAIN REALTY GROUP

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.

BUDGET FRIENDLY HOME SALE PREP BEFORE YOU PUT YOUR HOME ON THE MARKET

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 low cost and poten…