Knoxville Tennessee | Latest spam alerts

Posted by Jim Lee, REALTOR® @ 8:01 am, June 1st, 2011  

Following are the most recent batch of spam, trogan, and virus alerts sent to my email filter. Be on the lookout for them and don’t fall for any of their schemes.

Your best protection is to keep your computer updated and keep your antivirus program running at all times.

Please keep in mind that all the links below lead not to the virus itself but to the www.OnlyMyeMail.com alert.

I thought the eBay alert one was especially clever but a fraud attempt nonetheless.

Be careful out there and always practice safe computing.

Virus and Fraud Email Security Updates

Below are the fraud, trojan and virus alerts that were posted to the OnlyMyEmail Spam Blog during the last month.  Emails reported are chosen due to inbound volume and/or the frequency that end users are resending these emails to themselves, indicating they may mistakenly believe them to be legitimate.

Apple Store Order Notification Spam
http://blog.onlymyemail.com/apple-store-order-notification-spam/

Wells Fargo Online Fraud Prevention ? Spam ? Fraud
http://blog.onlymyemail.com/wells-fargo-online-fraud-prevention-spam-fraud/

Critical security patch released! ? Spammed Virus
http://blog.onlymyemail.com/critical-security-patch-released-spammed-virus/

OnlyMyEmail Receives Highest Score Ever in the Virus Bulletin Spam Challenge
http://blog.onlymyemail.com/onlymyemail-receives-highest-score-ever-in-the-virus-bulletin-spam-challenge/

Action Required : Download New Acrobat PDF Reader For Your Windows – Spam
http://blog.onlymyemail.com/action-required-download-new-acrobat-pdf-reader-for-your-windows-spam/

Message from eBay Member Regarding Item # ? Spam/Fraud
http://blog.onlymyemail.com/message-from-ebay-member-regarding-item-spamfraud/

Your account has been locked ? TCF Spam
http://blog.onlymyemail.com/your-account-has-been-locked-tcf-spam/

There are many additional posts on a wide variety of email topics.

Feel free to pass these links along to others that may benefit from these security warnings.

Good Grief!! “We has met the enemy and he is us”

Posted by Jim Lee, REALTOR® @ 7:15 pm, December 9th, 2010  

2 of my favorite quotes from the comics; “Good Grief!” is Charlie Brown of Peanuts fame favorite saying. “We has met the enemy and he is us” is from an old comic strip called “Pogo”. Pogo was a cartoon opossum and the originator of that saying.

There has been a lot of noise on the net lately about automated home valuation models along with an increase of websites offering them to both buyers and sellers of real estate.

Unfortunately for those that put a lot of stock in these online appraisals they’re generally overly broad and very, very often not valid for today’s prices in a given neighborhood.

I had a buyer recently I had been sending e mails of listings that nominally met his buying criteria. One day he called and wanted to go look at 3 houses he said he was interested in.

We went and one turned out to be his proverbial dream house. Went back to the office to write an offer and he pulled out not one, not two, but three online valuations of his 3 favorite houses including the one we were fixing to write an offer on.

Good Grief!!

I’ve never seen such a disjointed batch of alleged comparable sales in my real estate career. Just because a house has the same number of square feet as another or happens in be in close proximity, that has nothing to do with the value of either house.

Knoxville tn real estate listings Knoxville tennessee homes for sale

Some of them had used a condo complex just down the street to compare to a single family home in a neighborhood, others were wildly out of the ballpark both ways on suggested values.

After we sat down and went on the MLS (Multiple Listing Service) to find some valid comparables along with some knowledge I had of those sales, we wrote a successful offer.

The huge flaw with most of these services is that they just pull sales from databases and the programmers have no clue as to where they’ve told it to look.

They also don’t (and can’t) factor in nuances we would likely be aware of like sellers paying closing costs for a buyer, redecorating-done or not, property size, and a host of other very important variables.

There’s way too many of these so called “instant appraisal” services running around out there leading both buyers and sellers off in the wrong direction about the value of houses for sale.

We need to go a much better job of educating the public and our buyers and sellers about the flaws and limitations of these online valuation guys or we’ll be dealing with stuff like this on every sale.

Somehow I don’t have high hopes of that happening.

“We has met the enemy and he is us.”


Congratulations, you missed the $8,000 tax credit

Posted by Jim Lee, REALTOR® @ 3:48 pm, September 12th, 2010  

No, I’m not being facetious or implying you’re a dummy because you haven’t bought a house yet.

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In fact, just the opposite; waiting until now has saved you thousands of dollars more that than measly 8 grand credit a lot of your friends got when they bought earlier this year. Here’s how.

Let’s take a look at the facts and mortgage market now compared to what they were then.

The $8,000 federal tax credit that got everyone excited earlier this year expired at the end of April, 2010. Buyers that had a contract dated prior to that were able to claim the credit and also got a loan with an interest rate around 5.5% or so.

If they bought the median priced house in the Knoxville, TN area, which would have been around $180,000, and got an FHA insured loan with the minimum 3.5% down payment they would have a monthly mortgage payment of $986.25 for their principal and interest. Taxes and insurance are added to that amount.

However, because you waited until now for whatever reason, interest rates have continued to drop. In the current mortgage market you can get an interest rate as low as 4.25% which would lower your monthly principal and interest payment to $854.50 or $131.75 LOWER than your friends who bought earlier this year and got the tax credit.

One huge benefit to you with the lower interest rate is that it’s actual cash you’re saving each month you can use for savings, bill paying, or whatever you choose.

And if you only own you house 5 years and 1 month and then decide to sell and move up, move down, or whatever, you have then saved $8.036.75 in actual cash payments which puts you Waay ahead of your friends and their $8,000 credit 5 years previously

Finally if you end up keeping your house and paying off your 30 year loan over the whole term you save a whopping $47,430 in actual monthly payments over your friends who bought earlier.

So if anyone tells you that you’ve missed the boat on that now expired tax credit,just whip out your calculator or this article and explain to them how you decided to wait until conditions were ‘more perfect’, as they are now, before pulling the trigger on your new home purchase. Then show them how much more they’re paying compared to the sweet interest rates you’re now able to take advantage of.

In the greater Knoxville, TN are visit www.KnoxvilleHomeCenter.com to see all the area homes for sale.

A little further north, Portsmouth, NH and Seacoast area buyers can visit www.NewHampshireMaineRealEstate.com. The state of New Hampshire also has a stunning 3.5% rate through their New Hampshire Housing program. These are the lowest rates in their 30 year history.

The only dumb question is the one you don’t ask; call or email us.

The nice folks at Lender411.com  wrote a very flattering  review of my blog. You can get some great mortgage information (not to mention a great mortgage) by visiting their website.

Content published by Jim Lee

VA Loans and Other Available Veteran Benefits

Posted by Jim Lee, REALTOR® @ 1:56 pm, September 3rd, 2010  

This is a guest post by Brandon Fischer on VA benefits; I hope some veterans find it useful.

Jim

VA benefits

VA benefits


by Brandon Fischer:

For the men and women that have so willingly served our country, the government offers a variety of programs and incentives designed to enhance their quality of life after service. Benefits for our country’s veterans range from educational assistance to job training with benefits more specifically being:

VA Home Loans

Since its creation in 1944, the VA loan program has provided millions of veterans and active duty service members – even those with imperfect credit – with the opportunity to achieve home ownership. The VA home loan program’s flexible eligibility requirements offer borrowers the ability to receive loans up to $417,000 in most areas of the country and loans up to $1,094,625 for borrowers looking to purchase a home in more expensive real estate areas.  Veterans can use a VA loan calculator to find the loan limit in their area.

What are VA Loan Benefits?

Because the VA insures part of each loan, VA-approved lenders have greater confidence in eligible borrowers. This greater confidence in borrowers inclines VA-approved lenders to offer qualified borrowers a variety of benefits they would not be able to find with conventional loans including:      zero down payment required

  • Competitive interest rates
  • Down payments in the form of gifts
  • Flexible debt-to-income ratio
  • No mortgage insurance required

How Do I Qualify for a VA Loan?

The VA Home Loan program offers some of the most flexible eligibility requirements which has allowed over 18 million service men and women achieve homeownership. More than 80% of all veterans and active duty service members who have obtained a VA loan would not have been eligible for a conventional loan. To initially qualify for a VA, a service member must:

  • Have served 181 days on active duty
  • Or served 3 months during war time
  • Or have served 6 years in the National Guard or Reserves
  • Be the spouse of a service member who was killed during active duty

Service men and women who meet the preliminary guidelines must also obtain a Certificate of Eligibility to apply for a VA loan. Although there are no required income minimums and flexible eligibility requirements for VA loans, most VA-approved lenders wll require a mid-range credit score of at least 620 to secure financing.

40 tips to make your Knoxville, TN home sell faster

Posted by Jim Lee, REALTOR® @ 8:16 am, May 27th, 2010  

knoxville tennessee real estate listings

These 40 Free or inexpensive tips can make your home show better, sell faster, and put more money in your pocket at closing.

Outdoors

1. Be sure your lawn and shrubbery is kept trimmed at all times. Consider
removing overgrown trees and shrubs that  hide the house from the street.

2. Keep the garage doors down at all times.

3. For a touch of color, have seasonal flowers growing in beds and containers.

4. Make sure your driveway is in good repair. Pressure wash concrete drives
and walks to remove stains and car drippings, and put a fresh coat of
sealer on asphalt drives.

5. Make sure patios and decks are clean and in good repair.  Replace any
rotten wood and nail down loose boards on decking or steps; pressure wash
if needed.

6. Garage sale time! Clear out everything you don’t intend to keep and tidy
up what’s staying.  Make sure garage doors and openers are in proper
working order.

7.Check all railings and fencing to make sure it’s in good repair and
freshly painted.

8. Pay special attention to the area around your front door; make sure your
doorbell works, clean all cobwebs, leaves, and other debris that may have
accumulated there. Give the front door a fresh coat of paint if needed;
paint is one of the most cost effective fix up items you can do.

9. Check for broken windows or leaking seals on thermo pane windows;
replace if necessary.

10. Clean all the cobwebs from around the front door.  Make sure all
outdoor lighting (especially front porch) is clean and shiny; replace if
necessary. It is especially important that the entrance to your home make a
good first impression on prospective buyers.  This sets the tone for the
whole showing.

11. Check your mailbox. Is it straight and upright? Neatly trimmed around?

12. Before you start indoors walk across the street in front of your house
and look back (like a buyer will see it).  Does it present an appealing
appearance?

Indoors

13. Start by walking through the house and making a list. Do your carpets
need shampooing? Floors need a fresh coat of wax? Dust all ceiling fans
especially the blades and wash light
fixtures.
14. You’re going to have to pack when you move anyway, so go through all
your closets and pack up everything you don’t need for the next couple of
months. A closet with only a few neatly arranged items creates an
impression of abundant storage space.

15. Thin out overcrowded rooms. Ever notice the model homes sparse
furnishings?  They make the rooms look larger. Consider renting a storage
facility to store excess lamps, tables, and large items that eat up space
in a room.

16.Go through and pack up most of your family pictures and collections of
model ships, stamps, quilts, or anything that might cause a buyer to stop
and look at your collections of stuff instead of your house.

17.Check all light fixtures to make sure all the bulbs burn.  Use the
largest wattage bulb that you safely can to give off more light.

18. Wash all your windows and make sure window treatments are clean and in
good repair. Keep the window coverings open whenever possible to let in
more light.

19. With a good degreaser, wipe down everything in the kitchen so it feels
clean to the touch. Clean your stove and oven; replace stove eye pans if needed

20. Go through your kitchen cabinets and pantry to make sure they’re neat
and tidy; give any food that you don’t plan to use right away to the local
food pantry.

21.Make sure your sinks are clean at all times and free of dirty dishes and
utensils.

22. Remove all excess items from your counters to give the impression of
lots of work surface.

23. Pleasing aromas add to the appealing atmosphere we’re trying to
establish for your buyers; consider keeping a saucepan of potpourri on the
stove to give off an appealing scent.

24.Clean all light switch places by taking them off and washing with soap
and water; replace if necessary.

25.Make sure the bathrooms are spotless at all times with fresh towels,
decorative soaps, and all fixtures are shiny, scrubbed, and in good repair.

26. Check all faucets and shower heads to make sure they’re spotless and
free of leaks and drips.

27. Repaint interior rooms if needed with neutral colors.

28.Don’t forget your ceilings too; years of living in a home with cooking,
smoking, and other everyday activities can stain ceilings.  Paint ages;
repaint if needed.

29. Don’t have large, space eating house plants sitting around; give them
away or ask a neighbor to store them until you move.

31.The more light you can get into a room the bigger and more spacious the
room will appear. When you leave for a showing, turn on lights in rooms
that are normally darker than you would like and make sure the window
coverings are open to admit outside light.

32. An old decorator trick to bring in more light as well as make rooms
appear larger are mirrors; either hanging on a wall or on a stand.

33. Pack away and store out of season clothes. Get rid of extra hangars.
Straighten up your shoes (consider some inexpensive shoe racks from a
discount store like K-Mart or Wal-Mart).

34. When painting don’t forget the interiors of closets and the closets
doors; make sure all closet and interior doors open and close correctly.

35. Check where ceilings meet wall and clean all cobwebs, this is a
commonly overlooked area when cleaning, along with tops of tall furniture
items such as hutches, entertainment centers, etc.

36. If you have a pet make sure there are no odors. You may not notice
odors since you live with your pet every day, have a neutral third party
give your home a “sniff” test for objectionable odors that may turn buyers off.

37. Also, when buyers come to visit, keep your pet under control, or better
yet, get a friend or neighbor to “pet sit” for you while the buyers are
looking.

38. It’s important that you leave the house for all showings. Buyers feel
less inhibited if you’re not around and will usually take a closer look in
closets and in kitchen cabinets, as well as voice any objections that your
agent can then deal with. If the buyers won’t make comments because you’re
following them around pointing things out then your agent can’t deal with
any potential problems that may hinder making an offer.

39. If you have several vehicles make sure the spot closest to the door
buyers enter through is empty for them.

40. Freshly baked or even store bought cookies & little snacks along with
an appropriate beverage (hot in winter, cold in summer) along with a sign
saying “Please Sit Down and Enjoy a Treat While You’re Here” will make your
home more memorable even if they don’t take anything. Remember little
things can go a long way towards getting your home sold quickly for the
best price.

Visit www.KnoxvilleHomeCenter.com for more selling tips, staging, finance information, and much more including all greater Knoxville area real estate Realtor listings.

Is there real estate life in Knoxville, TN after the ‘first time’ homebuyer tax credit?

Posted by Jim Lee, REALTOR® @ 3:51 pm, May 9th, 2010  
Play VisualTour

This beautiful home is delightful clear through, 4 BR, 3.5 baths, and over 3,300 square feet. $249,500. A “Featured Home” on www.KnoxvilleHomeCenter.com

It’s now May the 9th and the ‘first time’ home buyer $8,000 tax credit has expired. Those that had an accepted real estate contract dated before April 30th still have 60 days to get their transaction closed and still be able to apply for the credit so I believe we’ll see residual benefits for the next couple of months before it runs its course (some military personnel may also qualify for up to a 1 year extension; call or write for more information).

The question in the minds of Realtors, mortgage bankers, homesellers, and others now becomes what’s going to happen to the market now?

I personally believe the tax credit was driving as much as 20 to 30% of the lower price range market. If that proves true we should see a dip in sales in those price ranges.

Here’s today’s figures from the Knox County Register of Deeds on local real estate transfers that were recorded last week.

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I count a record high 219 transactions with the $100,000 to $150,000 price range being about 25% of that total. That price range is where the bulk of the tax credit driven buyers have been.

Right now in the Knoxville Area Association of Realtors MLS there are 884 homes in Knox County for sale between 100K to 150K. You can probably add another 10% or so for the For Sale By Owner and auction market so in round numbers that would be about 970 homes for sale. 54 sold and closed last week leaving about another 920 still for sale in addition to new listings that come on the market every day. I’m going to be watching this price range very closely in the coming weeks to see what happens.

Current Knox County Realtor Listings

Knoxville tennessee real estate listings for sale jim lee realtor

knoxville tn listings of homes houses for sale

What’s going on in 2010 with Knoxville TN area real estate?

Posted by Jim Lee, REALTOR® @ 6:08 pm, April 18th, 2010  

Have a question about real estate in the greater Knoxville, TN area? Please ask; there are no dumb questions, just ones you need answers to. Please feel free to call or email any questions to: [email protected] or call 865-693-3232

Time for an update since the first quarter statistics for 2010 are now available. Let’s see how we did and which direction Knoxville area sales and home prices are headed.

First of all April is almost over now and that is the end of the $8,000 tax credit for lots of homebuyers. I believe this incentive has been driving between 30-40% of our market for the past several months. It will be very interesting to see what the trend is for the 2nd quarter of this year after it expires.

Local weekly sales dropped a little this week compared to last week. The Knox County Register of Deeds reported 159 transactions for the week of April 18th compared to 188 the past week of April 11th.

Knoxville TN area real estate sales for the week of April 1th, 2010

Week of April 11th, 2010

Knoxville TN area real estate sales for the week of April 18th, 2010

Week of April 18th, 2010

As both graphs indicate, the lower price ranges remain where the action is; from $100,000 to $200,000 with sharp dropoffs once you pass the $300,000 threshold.

And here’s the first quarter of 2010 compared to past first quarter figures. Still nowhere close to where we were a few years ago but a modest increase from last year’s first quarter.

Knoxville tn real estate listings sold for the past 10 1st quarters

1st quarter of 2010 compared to past 1st quarters

260 more homes sold in the first quarter of 2010 versus 2009 but still a whopping 43.3% lower than the peak year of 2006.

Lack of jobs growth remains an issue for the house market. According to the US Department of Labor’s latest stats,  in March the number of unemployed was little changed at 15 million and the unemployment rate remained at 9.7%.

Economists want to believe the economy has turned the corner but housing remains the bellweather indicator to confirm that belief and it isn’t showing broad and/or sustained growth just yet.

“Federal Reserve Board Chairman Ben Bernanke called housing a “critical” challenge to the economy. “We have yet to see evidence of a sustained recovery in the housing market,” Bernanke said in a speech on April 7.”

It will be an interesting next few weeks and whichever direction we head is likely an indicator of the the housing market direction for the remainder of this year.

On the plus side for buyers there remains a large supply of homes to choose from. Currently in the greater Knoxville, Tennessee area you can view 11,763 great houses and condos for sale at www.KnoxvilleHomeSearcher.com and I will be happy to help you become the owner of one.


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