Knoxville TN | Stop! Don’t put your home on the market!

Posted by Jim Lee, REALTOR® @ 9:11 am, March 14th, 2011  

Don’t put your Knoxville home on the market before watching these 5 tips to prepare your home for sale. Visit my Knoxville website to get more great selling tips and suggestions based on more than 30 years of experience selling homes just like yours.

Here’s my “90 second lightning round” of home selling tips for the very busy. 😉

 

Here’s 40 more free or low cost tips for you that will likely make your Knoxville area home sell faster and for more money.

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?

bar

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.

Call or email me [email protected] for a free, no obligation consultation on your home’s most likely selling price and how to sell it faster for more money.

 

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.

joker knoxville, tn and portsmouth nh real estate for sale houses homes condos land

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

Living…er, not large, and loving it | Knoxville, TN

Posted by Jim Lee, REALTOR® @ 7:17 am, July 17th, 2010  

This is an amazing story about a guy that lives in an 89 SQUARE FOOT house!

Yep, that’s 89 square feet.

To give you some perspective a 10 X 10 room is 100 square feet.

Even more amazing is the fact that he’s turned this into a business. Seems the demand for tiny houses is larger than you would think.

To find more ‘normal’ sized houses in the greater Knoxville area visit KnoxvilleHomeCenter.com

For questions or advice on buying or selling a home in the greater Knoxville area Jim Lee is the ‘go to’ Realtor in town.

Got a lowball offer on your Knoxville, Tennessee home for sale? Here’s how to handle it best

Posted by Jim Lee, REALTOR® @ 8:59 am, July 16th, 2010  

Fielding a Lowball Purchase Offer on Your Home

By: Marcie Geffner

Published 2010-06-10 09:53:36

Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale.

When you receive a low offer on your house, the best response is to counter with a price you’re willing to accept.

You just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal.

Check your emotions

A purchase offer, even a very low one, means someone wants to purchase your home. Unless the offer is laughably low, it deserves a cordial response, whether that’s a counteroffer or an outright rejection. Remain calm and discuss with your real estate agent the many ways you can respond to a lowball purchase offer.

Counter the purchase offer

Unless you’ve received multiple purchase offers, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay, or they want to test your limits.

A counteroffer signals that you’re willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you’d like to take with you.

Consider the terms

Price is paramount for most buyers and sellers, but it’s not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is preapproved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.

Review your comps

Ask your REALTOR® whether any homes that are comparable to yours (known as “comps”) have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

Consider the buyer’s comps

Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that justify your asking price.

If the buyers don’t include comps to justify their low purchase offer, have your real estate agent ask the buyers’ agent for those comps.

Get the agents together

If the purchase offer is too low to counter, but you don’t have a better option, ask your real estate agent to call the buyer’s agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your real estate agent whether the buyer (or buyer’s agent) has a reputation for lowball purchase offers. If that’s the case, you might feel freer to reject the offer.

Don’t signal desperation

Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home’s listing describes you as a “motivated” seller, you’re signaling you’re open to a low offer.

If you can remedy the situation, maybe by renting furniture or asking your agent not to mention in your home listing that you’re motivated, the next purchase offer you get might be more to your liking.

More from HouseLogic

6 Tips for Choosing the Best Purchase Offer for Your Home

6 Reasons to Reduce Your Home Price

Marcie Geffner is a freelance reporter who has been writing about real estate, homeownership and mortgages for 20 years. She owns a ranch-style house built in 1941 and updated in the 1990s, in Los Angeles.

“Visit Houselogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.”

Visit KnoxvilleHomeCenter.com to find great homes for sale in the Greater Knoxville, Tennessee area.

Buy a Knoxville TN home | get a green card

Posted by Jim Lee, REALTOR® @ 6:00 am, June 9th, 2010  

Here’s a simple solution to our current housing dilemma.

We all know there are too many houses on the market in most areas that are not selling.

Play VisualTour

There is also a problem with too many illegal immigrants.

One simple solution I ran across recently is to just give a green card to every legal immigrant who wants to come to the US and buy a house.

Democrats should love it because it allows more immigration.

Republicans should love it because the new immigrants would be well documented. Mortgage bankers ask for lots more documentation than the INS.

This offering should not apply to illegal aliens currently in the country.

I believe that would be a huge slap in the face to our country, our laws and those who obey them, and all other immigrants that took the time and trouble to go through the process legally.

Personally I don’t see a downside, do you?

Buy a house, get a green card.

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How to become a Certified Residential Specialist (CRS)

Posted by Jim Lee, REALTOR® @ 6:59 pm, June 7th, 2010  

The highest professional designation awarded to all Realtors is the CRS or “Certified Residential Specialist”

It’s also tougher to earn a CRS designation than any of the others I’ve done, in fact less than 4% of all the 1,000,000 plus current membership are CRS designees.

First there are production requirements; you must meet:

Participate in 75 transaction sides within any 5 year period of do a gross volume of $25,000,000 during any five year periord.

Successfuly complete any two Residential Sales Council RS core courses (business planning & marketing, listings, sales, wealth building, technology, or referrals.

AND complete a total of 4 more elective units such as 2 additional core courses, attend a CRS “Sell-a-bration”, or any 4 more electives from a list available at http://www.crs.com/

There an alternative course that requires 1 more core course also available on the CRS website.

If you’re asking yourself why you would want to become a CRS besides the obvious reasons (learn more, become more knowledgable & professional, and do a better job for your clients) there are 2 great reasons that immediately come to mind.

According to a survey of CRS designees the RS council conducted in 2005, designees earned an average income of $160,500 which is 4 times the average income of a residential sales agents.

Additionally holding a current, active CRS designation also puts you in the council’s referral roster. I received anywhere from 2-6 referrals a year from fellow CRSers all over the country.

So if making more money, being more professional, and becoming one of an outstanding group within the Realtor family appeals to to you, consider starting down the path to earning your CRS designation today.

http://www.crs.com/ has all the info and an application

Jim Lee, Realtor®, CRS

See all Knoxville, TN homes for sale @ KnoxvilleHomeSearcher.com

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.