This Month in Real Estate - January 2017

Chattanooga Info

January brings out a rejuvenated crop of buyers with a renewed enthusiasm in a new calendar year. Sales totals may still inevitably start slow in the first half of the year due to ongoing inventory concerns. Continued declines in the number of homes available for sale may push out potential buyers who simply cannot compete for homes selling at higher price points in a low number of days, especially if mortgage rates continue to increase. More >>>> 

National Info: Existing Home Sales Jump in January

Existing-home sales stepped out to a fast start in 2017, surpassing a recent cyclical high and increasing in January to the fastest pace in almost a decade, according to the National Association of Realtors®. All major regions except for the Midwest saw sales gains last month.

Lawrence Yun, NAR chief economist, says January's sales gain signals resilience among consumers even in a rising interest rate environment. "Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home," he said. "Market challenges remain, but the housing market is off to a prosperous start as homebuyers staved off inventory levels that are far from adequate and deteriorating affordability conditions." More >>>>

6 Big Mistakes that Cost You MONEY!

The Way You Live In A Home And The Way You Sell A Home Are TWO Very Different Things!

Dear Homeowner,

Each year thousands of homeowners unnecessarily lose money when they sell their homes. They don’t lose money because someone took advantage of them. And they don’t lose money because it wasn’t “marketed” well.

Even Seasoned Homeowners Lose Thousands of Dollars Because They Didn’t Know About The Important Factors That Influence The Value Of Their Homes

If you desire to sell your home for top dollar, and in your time frame, you need to do two things: 1) Get control of your personal emotions about your home, and 2) Place yourself in the shoes of potential buyers.  Look at your home the way they would, and make it appealing in the right areas.  

I know that putting your “homeowner emotions” aside may be tough to do. But doing so will help you to position your home to sell for top dollar, and in your time frame. After all, selling your home is very different from any other financial transaction. Your house isn’t just a “thing.” It’s your HOME! 

It’s the place where you raised your children. The place where you hold countless family memories…Thanksgiving dinners, family reunions, birthdays, anniversaries and more. It’s the place where you solved problems over the kitchen table late at night.  

So it’s no surprise that selling your home may involve a bit of sadness, fear…or even excitement for the next move in your life. Try not to let these emotions get in the way of a prudent sale. Ok are you ready??? 

Here Are Six Problems Your Home May Have That Can Instantly Turn Buyers Off

Potential buyers are much more likely to return to a home that impresses them at first glance, while homes that appear disorderly or poorly maintained seldom sustain buyer interest.

1. Home Odors.
Because homeowners become desensitized to the odors in their homes, they rarely realize how obvious odors can be to visitors.  This is particularly true of pet owners and smokers.  
    
2.Carpet and Flooring.  
One of the most visible areas of your home is your flooring. If your carpet is worn or dirty, get it replaced or cleaned. If you have vinyl flooring with corners coming up, get it glued down. Special note: Replacing flooring in smaller areas, such as kitchens, with high quality flooring can bring in premiums in price.

3. Paint and Walls.  
Paint is one of the least expensive ways to “spruce-up” your home.  Consider painting outside trim and interior walls and doors.  

4. Clutter.  
Excess clutter is a big buyer turn-off.  You have to move anyway, so you might as well pack away items that make your home feel good to you, but turn off buyers. This includes nick-knacks, furniture, pictures, wall hangings, plants, etc.

5. Signs of Pests.  
If you have any sign of mice, rats, roaches, spiders, or bees, you should immediately contact a local pest control company and have them eliminated. There’s no better way to show your home is filthy than by infestations. Remove all spider webs with a broom.

6. Landscaping. If your landscaping is messy, overgrown, or looks cluttered in any way, you need to fix it. Buyers make positive or negative conclusions about your home within the first five minutes. Don’t lose the battle before you’ve even begun.
 

There’s no doubt about it: first impressions count with buyers.

Need more advice? We'd love to help you. Call us today for a free right-price analysis of your home. 

-- Cheryl 

Chattanooga Date Night Ideas

What’s the hardest part about date night? Deciding where to go and what to do! With Valentine’s Day right around the corner, here are some fun (and different) ideas for a date with your honey.

Get Active!

Here’s a few ways to get your blood pumping and tap into your silly side!

Jump Park Trampoline Center

Super Fly

Escape Chattanooga

Ruby Falls Zip Stream Adventure

Tennessee Bouldering Authority

High Point Climbing

Horseback Riding

Get Artsy!

Looking for a quiet evening where you can talk and reconnect? These fun activities will spark some new conversations!

Hunter Museum of American Art

River City Pottery. Try your hand at making pottery. The $60 all-inclusive fee includes private instruction, six lumps of clay and up to two hours to play! Come back in two weeks and paint everything you made.

Paint something pretty at The Pottery Place.  

Make an ornament to hang on your Christmas tree at Ignis Glass Studio.

Enjoy a glass of wine while you paint at Uptown Art.

Get Relaxed!

Go for a couple’s massage at Massage Envy or Woodhouse Day Spa. At Massage Envy, get a 1-hour intro massage for $50!

Grab a cup of joe and some sweet treats at Rembrandt’s Coffee House in the Bluff View Art District. Even better – get it go and walk around and look at the architecture and small shops.

Get Romantic!

These places have ambiance and will get you in the mood for love. If you’re planning to enjoy one of the restaurants below on Valentine’s Day, we recommend making reservations in advance.

Alleia. Rustic, Italian inspired cuisine such as handmade pastas, Neapolitan pizza, as well as an array of antipasti, insalate and secondi grace the menu at Alleia.

The homemade pastas at Boccaccia can’t be beat!

Terra Nostra – Tapas and Wine – This place is perfect for sharing. They have full entrees, but the tapas and appetizers are pretty great, too! For reservations call (423) 634-0238.

Dominica’s Caribbean Kitchen – They’re offering a Valentine’s Day special you don’t want to miss! Here’s a link to their special, and the phone number to make reservations: (423) 475-6916.

Rodizio Grill – If you’re looking for something more interactive, this is the place for you! Their menu boasts an unlimited and succulent variety of rotisserie grilled meats, glazed pineapple, a gourmet salad bar, authentic Brazilian sides and an experience like nowhere else! Reserve your table by clicking here. 

The Meeting Place – One of the best places in town! This sister restaurant to St. John’s is just little more casual, but just as delicious. You’ll need reservations for Valentine’s Day! Call (423) 266-4400 or you can place a reservation online.

The Public House – located in Wharehouse Row, this restaurant offers a diverse menu and twists on classic dishes. It has great ambiance for a private dinner. Reservations at (423) 266-3366.

There you have it - plenty of ideas to spend with your love (or a great friend) this Valentine's Day! Enjoy! 

--Cheryl 

This Month in Real Estate - Chattanooga Market Activity - October

Chattanooga Home Sales 

As we enter the final quarter of 2016, not much has changed since the year began. Market predictions have been, in a word, predictable. A relatively comfortable pace of activity has been maintained thanks to continuing low unemployment and mortgage rates. The one basic drag on market acceleration has been inventory decline. There is little to indicate that the low inventory situation will resolve anytime soon. More. 

National Home Sales 

Existing-home sales ascended in October for the second straight month and eclipsed June's cyclical sales peak to become the highest annualized pace in nearly a decade according to the National Association of Realtors®. All major regions saw monthly and annual sales increases in October. More. 

Please let us know if we can help you in any way! 

-- Cheryl 

Create New Traditions With Your Family This Holiday Season

It's the Most Wonderful Time of the Year! 

Establishing holiday traditions with family and friends is a great way to build lasting memories. Christmastime is a great opportunity to gather together and enjoy all the little pleasures in life. It’s also time to be thankful for the many blessings we have in our lives. This list gives you a head start on ways you can begin to create those special Christmas memories. 

 

Have You Seen Santa? 

Ruby Falls’ Christmas Underground
Dec. 1-18, Thurs-Sun; Dec. 19-23, daily, 12-8pm

Chattanooga Zoo’s Holiday Lights
December 2-4 & 9-11, 5:30-8pm

Dinner with Santa at Rock City Gardens
December 3-4 & 12-13, 5-7pm

MainX24/24-Hour Festival
Dec. 3, 9am-Dec. 4, 9am
 
Hamilton Place Mall
Dec. 5-24, daily times vary
 

Christmas Attractions 

Tennessee Valley Rail Road North Pole Limited 
Times vary. These sell out quickly – book your ride early! 
4119 Cromwell Road
Chattanooga, TN 37421 

Trains take riders on an imaginary journey to the North Pole. Along the way, you’ll be treated to refreshments, storytelling, and occasional sing-a-longs. As the train gently rolls down the rails, a number of lighted displays can be seen outside.  Once the train pulls into the “North Pole”, a special guest boards for a visit.

Evening trains depart at 5:30 p.m. and 7:30 p.m. Earlier trips on Saturdays have been added departing at 11:30, 1:30 & 3:30.  During the return ride, Santa makes his way through the train cars to greet every child and presents a keepsake item to all the children.

Rock City Gardens’ Enchanted Garden of Lights 
November 18 – December 31, 6-9pm nightly. 
*Closed Christmas Eve night. 
More than 30 holiday scenes and hundreds of thousands of LED light create a beautiful and magical Christmas fantasyland. Pictures with Santa, hot cocoa, decorating cookies and live entertainment are available.  

Ice on the Landing – new location! 
November 18, 2016 – January 16, 2017. Times vary. 
1400 Market Street
Chattanooga, TN 37402

The new location for Ice on the Landing is at the Chattanooga Choo Choo Gardens! The schedule includes general skating times, Santa sightings, and several opportunities are available that benefit local not-for-profits.

Ruby Falls’ Christmas Underground
December 1-18, Thursday – Sunday
December 19-23, daily from 12-8 pm
Closed Christmas Day
1720 S Scenic Hwy
Chattanooga, TN 37409

Take your family on a magical holiday adventure! Take time to explore and walk through secret underground ice caves that take you straight to the North Pole! You’ll see the Northern Lights and a Sugar Plum Fairy Village. 

Chattanooga Zoo’s Holiday Lights
December 2-4 and 9-11, 5:30 – 8pm
301 N Holtzclaw Avenue
Chattanooga, TN 37404 

See how the zoo is transformed into a magical wonderland – view the beautiful lights, visit the animals and watch them open Christmas presents! You can even get your picture with Santa and play holiday games.  

Creative Discovery Museum’s The Amazing Castle Exhibit
September 24, 2016 – January 2, 2017, daily.
321 Chestnut Street
Chattanooga, TN 37402 

Encourage your child’s imagination as they pretend to be inhabitants of a castle village. They can dress up as lords, ladies and villagers, work with the tailor or carpenter, pick vegetables, cook a meal in the great hall and wake Herald, the sleeping dragon! 

Chattanooga Choo Choo’s Holiday Enchantment
November 18 – December 31. Dates and times vary. 
1400 Market Street
Chattanooga, TN 37402 

Take a trip to the north pole, become an honorary elf and have your photos taken with Santa! Crafts, arts, games, movies – there’s something for everyone! 

Tennessee Aquarium Christmas Fun
Caroling with the Fishes - December 4 from 6-8:30 pm
1 Broad Street, Chattanooga, TN 37402

The galleries are decked with sounds of the season – choruses, singers, and local musicians on the drums, flutes, strings and more. Visit with Santa, and enjoy a seasonal beverage and holiday shopping. 

PJs and the Polar Express at the IMAX
December 18 – 19, 9:30 – 11:45 am 

All aboard the Polar Express for an extraordinary train ride to the North Pole. Dress in your favorite pajamas and enjoy a special screening of The Polar Express. This is your chance to meet the Conductor, sip hot cocoa, and enjoy brunch muffins before the movie. 

Whatever you decide to do this holiday season, we wish you the best. Merry Christmas! 

Cheryl & Brad

Chattanooga & National Real Estate Activity - September 2016

As anticipated at the outset of the year, demand has remained high through the first three quarters of 2016, propping up sales and prices despite heavy reductions in inventory and months of supply across the country. With rental prices and employment opportunities in a consistent climb, year-over-year increases in home buying are probable for the rest of the year but not guaranteed. More.

Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market. More. 

If there's ever anything Brad or I can do to help you, please let us know! 

- Cheryl

Chattanooga & National Real Estate Activity - August 2016

CHATTANOOGA HOME SALES -
August 2016

Closed sales began to cool for much of the country last month, and conventional wisdom indicates that year-over-year declines are going to be present for the remainder of the year, given the low inventory situation in most markets. Demand is certainly present and has created competitive situations that have kept prices up. Rental prices are also up, which may lure more toward home ownership. More.

Existing Home Sales Soften Further in August

Existing-home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay, according to the National Association of Realtors®. Only the Northeast region saw a monthly increase in closings in August, where inventory is currently more adequate. More. 

Fun Things to Do in Chattanooga - Fall Edition

There are so many ways to have fun in the fall in Chattanooga. There’s something here for everyone! If there's something here we've missed, please let us know! Check out the many ways to experience the change of seasons here. 

FREE Festival Fun 

Hamilton County Fair – September 24 & 25 - 10 a.m.-6 p.m.
The fair features music, games, country crafts, livestock, rides and more. 

River Rocks - Oct. 1-15, Daily, 9 a.m.-7 p.m.
RiverRocks is a multi-day event that brings world-class and amateur athletes to the Scenic City to compete and celebrate Chattanooga’s outdoor lifestyle and enjoy live music. Athletic events include rock climbing, trail running, kayaking, open water swimming, rowing, cycling, off-road biking, paddling and much more. 

Three Sisters Music Festival - September 30-October 1, 2016
The 10th annual celebration of Bluegrass on the River in Chattanooga. Two big days, Three Great Sisters. Held at Ross' Landing. 

Autumn Children's Festival - October 1 - 10 a.m. - 6 p.m.  -  Free
The Festival attracts over 3,000 attendees over two days who enjoy delicious food, activities, crafts, and games for all ages, including: Star Wars characters, princesses, superheroes, inflatables, a petting zoo, face painting, kiddie train, carnival games with prizes, arts and crafts, as well as health and wellness and educational programs. Admission and parking are FREE!Activities range from only 50 cents to $3.

CultureFest at the Chattanooga Market - October 2nd - 11 a.m. - 4 p.m.
17th Annual CultureFest – Come experience the rich cultural diversity of Chattanooga through arts, food, dance, and live music. Enjoy a multicultural fashion show, dance contest and an exhibition of culturally-themed art.  Local, ethnic organizations will be on hand displaying cultural artwork, offering food samples & cooking demos along with other global customs. 

Georgia Apple Festival – Arts and Crafts Show
October 8th - 9th, October 15th - 16th
There are over 300 vendors with handmade, hand-crafted items, as well as many on-site demonstrations of how selected types of crafts are made. This year promises many new crafts as well as favorites from past festivals. There is a parade and antique car show each year. The antique car show is held at the Civic Center on October 8th. The parade is on October 15th and begins at 10 AM in historic downtown Ellijay.

Prater’s Mill Country Fair 
October 8 (9 a.m. - 6 p.m.) and October 9 (9 a.m. - 5 p.m.) 
surrounding buildings, has grown into a full celebration of Appalachian traditions featuring live music, Southern food and handmade crafts and original art created by nearly 200 talented artists and artisans. Demonstrations include blacksmithing, quilting, weaving, woodcarving, rug hooking, and hand tufting, the precursor to the famous machine tufted carpet industry of Dalton, Ga.

Ketner’s Mill Country Arts Fair
October 15 & 16 - Sat 9 a.m. - 6 p.m. & Sun 10 a.m. - 5:30 p.m.
Highway 28 at Ketner Mill Road Whitwell, TN 37397
Ketner's Mill Country Arts Fair is two days packed with shopping, great southern-style foods, entertainment and activities for the whole family. 

Inexpensive Family Fun

ChattaBOOga ($)
Looking for a good scare? ChattaBOOga! offers thrilling, chilling adventures that can’t be experienced anywhere else. 

Tennessee Valley Railroad’s Eerie Express ($)
Oct. 8, 14-15, 21-22 & 28-29, 5:45 p.m., 7:30 p.m. & (Sat. only) 3:30 p.m.
Jump aboard the Halloween Eerie Express vintage train for a spooky, family-friendly round trip ride from Grand Junction Station to the Funhouse Station and back. The fun-filled journey includes storytelling, hot cider, black-light mini golf, games, costume contest, petting zoo, pony rides, bag of treats for the children, and a tour through the “gentle thrills” Eerie Fun House, a 20-room, 2,000 square foot “old time” fun experience.

Chattanooga Zoo’s Boo in the Zoo ($) 
Oct. 21-23 & 28-30, 5:30-8:30 p.m.
Enjoy this annual family-oriented Halloween celebration with some of the Zoo’s most lovable animals. Children get to hang out with roaming cartoon characters, stop by trick-or-treat stations, enter costume contests, get crazy in bounce houses, take a pony ride, play games, get their face painted, go on a hay ride, and much more. 

Enchanted Maize ($) 
Adventure for the whole family begins by getting lost in Rock City's annual corn maize. Make sure to fuel up with our homemade funnel cakes, and more! Don't forget to swing by the Critter Corral and meet the lovable furry animals. A family outing is not complete with a little competition, so drive around in our pedal carts for a friendly family race. End the night with a relaxing hayride made for the entire family. Fall, fun, laughter and enchantment await...only at the Enchanted Maize at Blowing Springs Farm.

Rocktoberfest 2016 ($) - October 1 - 8:30 a.m - 5 p.m.
Celebrate at Rock City's German Festival Get in touch with Rock City’s German Heritage during the 10th annual Rocktoberfest. Rock City Square will be transformed for a celebration of harvests and fall foliage.  

Old McDonald’s Farm ($) 
Saturdays 10-7 and Sunday’s 12 -7 | Sept 10 – October 30
A day at the McDonald Farm is full of activities! From navigating a corn maze to visiting a pumpkin patch to petting a goat to taking a hayride, you and your family will leave with plenty of wonderful memories. With so much to do, most visitors spend at least two or three hours at the Farm, so we recommend arriving early! Admission is $12.50 per person, and children two years old and under are admitted free. Group pricing of $11 per person is available for groups of 25 people or more.

Guthrie Farms (Athens, TN - worth the drive!) ($) 
September 24th - Sun. October 30th, 2016
Fri & Sat 11 a.m. - 7 p.m., Sun 1 p.m. - 6 p.m.
PUMPKIN FARM AND CORN MAZE! Hay Rides, Calf roping, Tire Mountain, Petting zoo, Country Store  - Great time!  

We hope you enjoy a wonderful fall with your families! 

-- Cheryl
 

 

 

Avoiding Real Estate Mistake #1

Pricing Your Home Incorrectly

I'm starting a new series on the blog about avoiding real estate mistakes. Buying or selling a home can be sort of a mystery to people - especially if you've never done it before. That's why you need a trusted advisor to help you through the process. Read on for my tips about making one big real estate mistake - pricing your home incorrectly. 

Every seller wants to realize as much money as possible when selling their home. The natural inclination is to price the home high, thinking you can always come down in the future. But a listing price that is too high frequently nets the seller LESS money than an original price at market value. Why is this? Because people looking for homes in your price range will reject your home in favor of other homes in a reasonable price range.

And heres the real clincher: Agents who would readily bring buyers through your home will automatically cross it off their showing schedule because its priced too high. They're only motivated to show homes with the highest probability of selling. Agents simply will not show overpriced homes because they work by commission. They know market values because its their job to know. And they don't want to waste their time.

So you price your home high, thinking you can come down. Problem is the agent and buyer community don't look at it that way. They see it as an overpriced home. After a few months go by, eight or 10 open houses, signs, agent tours and not a nibble. So you decide to lower your price again. But its too late and your home has already been branded by the agent community. So you reduce your home a little more. And little happens. Finally, in order to attract attention back to your home, you've reduced your home price more than you ever thought you would, and you're now netting much less than if you had priced it correctly in the beginning.

And think about this: The money you lost is not just the lower sales price, but all the extra interest you paid on your mortgage and all the extra property taxes and other carrying costs that accrue while your home is waiting to sell. I've seen it happen time and again! 

Overpricing almost always increases time to sell, and adds to your carrying costs. That's why I provide a complete, no obligation evaluation of your home. Want to know what your home's really worth in this market? Give me a call today - I'd love to talk with you.

--Cheryl 

Chattanooga Real Estate Market Statistics | July 2016

Chattanooga Home Sales 

Even as prices rise in many communities, homes are selling faster now than they have in the past several years. This creates a situation where buyers need to move fast in order to secure homes, and they may have to pay more for them. While increasing prices generally coax more selling activity, there has been some hesitancy among potential sellers who worry that they will not be able to buy a desirable and reasonably priced home once they sell. More. 

National Home Sales 

Slowed by frustratingly low inventory levels in many parts of the country, existing-home sales lost momentum in July and decreased year-over-year for the first time since November 2015, according to the National Association of Realtors®. Only the West region saw a monthly increase in closings in July. More. 

Chattanooga Real Estate Market Statistics | June 2016

Halfway through 2016, residential real estate markets are performing as predicted at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total months' supply of inventory have been going down. Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand. The message may be repetitive, but it is largely positive. Read the full report here. 

Boosted by a greater share of sales to first-time buyers not seen in nearly four years, existing-home sales maintained their upward trajectory in June and increased for the fourth consecutive month, according to the National Association of Realtors®. Only the Northeast saw a decline in closings in June, and sales to investors fell to their lowest overall share since July 2009. Read the full report. 

Thinking about buying a home?

Check out Fuqua Group's featured properties.  Might one of these homes be right for you? 

If so, give me a call and we’ll schedule a private tour. If not, I’d like to help you find your perfect home. Remember, I can show you any home that’s for sale in the area, whether or not it’s listed by me or my office. Your perfect home IS out there. I’d appreciate the opportunity of helping you find it. 

-- Cheryl 

Chattanooga Real Estate Market Statistics | May 2016

We are in the thick of an exciting period of home buying and selling, often with quick multiple offers that are near, at or even above asking price, depending on the factors of the home and submarket in question. It was widely predicted that we would see healthy sales activity during the second quarter of 2016, and the market has not disappointed. Learn more >>>> here. 

Call us if you'd like to know more about the current value of your home! 

-- Cheryl 

Downsizing in your future?

When it’s time to downsize or if a family member is needing low-maintenance living, part of the process might be selling furniture, collectibles, and art in preparation for the move. We know that homes with less clutter tend to sell more quickly – and for more money. Who wouldn’t want that?

If you don't know where to start, here are a few estate sale companies in the Chattanooga area that could help you take the first step. And read on if you're more into buying than selling! 

Blair’s Estate Sales
Alexander Estate Sales
Estate Sale Group
Meeks Auctions

Here’s a link to a “Crash Course” in Estate Sales.

If you like the thrill of the hunt at an estate sale, check out this information that can help you find the treasures you’re seeking (and help you know what’s really just junk)! 

Can’t get enough? Visit Estatesales.net to sign up for email or download their app – you’ll never miss another sale! 

If there's anything we can do to help you, please let us know. Happy hunting (or selling!) 

- Cheryl 

(423) 505-4880
cheryl@cherylfuqua.com

3 Quick Tips to Help You Save for a Down Payment

Saving money is hard, even when it’s for something you want – like a new home in a great neighborhood or near top schools. If you’re getting a refund on your taxes, now’s a good time to sock that money away. Check out these quick tips to save more money – and you’ll be ready to move in no time.  

1. Know how much you need. Knowledge is power. You need to know how much you can afford, and if you’re qualified to buy. Learn more about the pre-qualification process here. 

2. Automate your savings. Direct deposit to your savings is the best and most predictable way to save. You don’t have to think about it every month, but these consistent savings add up fast. 

3. Manage money with your phone. Check out these apps that will help you see how much money you have that’s available to spend or save, track your spending and automatically move money to your savings account. 

Simple – a great online banking platform that gives you an accurate picture of what you can spend today with out damaging your long-term goals. 

Mint – a smart financial overview that tracks activity from all your accounts – checking, savings, retirement. Everything’s recorded and categorized and you can see exactly where you’re money’s going (and where it shouldn’t be). 

You Need a Budget (YNAB) – yep, the dreaded word. This easy interface helps you save more money, pay off debt and get ahead. 

For Iphone users, check out Digit and TipYourself for a quick and painless way to put your pennies to work. 

Want more?? Check out some other fun and helpful apps to help you save.

Even though you don’t always need a 20% down payment, having cash on hand puts you in the best position – especially if there are multiple offers for a home. Have more questions? I’d love to help you find the answers. 

Cheryl 

Why choose a Realtor with a “CRS” after their name?

There’s sometimes a perception that it’s easy to be a real estate agent. Just take a few classes and get started. And while it’s true that anyone can take the licensing exam, it takes time, effort and ongoing education to become a real estate professional. 

That’s why I’ve pursued the CRS designation. CRS stands for Certified Residential Specialist. It’s a designation offered by the Council of Residential Specialists and is the highest credential awarded to residential agents, managers and brokers, and the ONLY one based on production and education.

To be eligible, you must have a certain number of transactions in five years and meet specific levels of production (total value of home sales closed).

Advanced Education and Resources

Education and experience is what being a CRS is all about. The comprehensive classes have given me a higher level of professionalism and education that directly benefits my clients. The education requirements include a combination of live presentations in a classroom setting, eLearning course and elective credits on topics that I feel are relevant to selling homes in Hixson, Soddy and the greater Chattanooga area.  

This designation also means I have access to a network of other experienced agents who are working hard to connect buyers and sellers. When I look for a referral agent, I look for someone who has gone the extra mile for their business and are better prepared to meet my clients’ needs.

So the next time you’re thinking of buying or selling a home, I hope you’ll consider me for your real estate needs. Please call, text or email with any questions you have. Or you can leave comment on this post. I’d love to hear from you.

- Cheryl

PRE-QUALIFIED VS. PRE-APPROVED

Why should we get pre-qualified and what is the difference between pre-approved and pre-qualified?

Kevin Blair, Mortgage Banker with Brand Mortgage, has 36 years of lending experience including 15 years as a Top Producing mortgage banker.  He has closed more than 1,800 mortgages and has assisted thousands of people in realizing the dream of home ownership or providing them with lasting financial solutions.

That is a great question and I am so glad you asked!

Getting pre-qualified is the most important step in buying a new home. How else can we know for sure that we can actually buy? I cannot tell you how many people in the past 15 years have come to me and are already under contract and cannot qualify. What is even scarier is I have met with too many families to mention that have their current homes sold or under contract to sale, and cannot qualify. That is a horrible position to be in and the ripple effect is even scarier.

How do we correct this? Again, I am glad you asked! 

It is so very important to meet with a quality lender. One who will take the time to delve into your overall financial position and give you 100% honest and correct advice. It should be the very first thing you do when you are considering buying a new home. With ever changing guidelines and requirements, it is of the utmost importance to get your financing in place first. I have talked with literally thousands of people over the years, and I am told daily….”I have great credit, I have great income, and I have little or no debt.”

I will always reply with…I understand. However, without both of us digging in and getting all the facts, how can we give an approval to go shopping for a new home? It is like going to the doctor and telling him your symptoms and telling him what meds you use. How irresponsible would that be for him or her to say…I agree, here is your prescription. We would never accept that and you should never accept that from a lender. It is absolutely imperative that your lender review your credit report, review all of your income documents, and review all of your assets. Without this, how could we say yes to the biggest purchase you will make in your lifetime?

My team and I pride ourselves in not only knowing and keeping up with all of the guidelines and all of the programs available, but we also go the extra mile in making sure you can buy! When we say yes, we want you and your realtor to know it is a YES. There have been too many horror stories about people going under contract only to find out they cannot buy. That is ridiculous to say the least!

The difference between a pre-approval and a pre-qualified loan approval: how much factual data is provided and then verified.

I have seen lenders take what a prospective buyer claims their income and debts to be, then ask about credit, and then offer a pre-approval letter without verifying anything at all. This practice is common in the industry and to me that is crazy. You may have excellent credit, you may not have many debts, but until a professional lender verifies all of your information and structures a complete loan qualification for you, then you are NOT approved.

What you need is a true pre-qualification. Let a lender examine all the details, pulling credit, gathering pay stubs, and obtaining tax and asset documents. Have them do a complete workup of your financial picture and then you will KNOW exactly what you qualify for and then you can start the fun part of this process, which is looking for your perfect new home!

I have an old mentor who used to say, and I am sure he still says….”Hope is not a strategy!”

If you hope to make a purchase, true pre-qualification is the only strategy that will assuredly set your feet on a path to achieve that goal. May this post be helpful to you, and if you know of anyone or if you are in the market yourself to buy a new home, please call me for a free consultation: 423-842-6004. 

You can also apply using this secured online application page. 

***Brand Mortgage is a full-service, equal opportunity, fair housing lender serving 10 states: Alabama, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia.

Home Values on the Rise in Hixson and Soddy

When you’re thinking of selling your home (or maybe refinancing), what’s the one thing you want to know? 

How much is my home really worth?

The real estate market in Chattanooga, and specifically the Hixson and Soddy Daisy communities, has changed a lot in 2015. Homes are selling faster and for more money. Here are a few highlights about home values:

Hixson, Tennessee 37343

Median Home Price in 2015 - $161,500
Median Home Price Current - $185,000

*That’s a 14.6% increase!

Days on the Market in 2015 – 106
Days on the Market Current – 64

Inventory is also down 30.9%.

Soddy Daisy, TN 37379

Median Home Price in 2015 - $155,900
Median Home Price Current - $189,950

*That’s a 21.8% increase! The number of days on the market also fell from 125 to 84 days.

If you’re curious about what your home might be worth, call (423) 505-4880 today for your personalized “Right Price” analysis. You can also click here to access the full report of home values broken out by community.  

Bring on 2016!

Thanks for reading the first post on Keep It Real Estate! This year we are focused on growth and change for our business. We’re looking for ways to reach out to our family, friends and clients, stay connected and provide relevant information about what we do. We also want to have a little fun – and that’s why we’re starting this blog. Our goal is to provide a mix of real estate topics, guest posts from our trusted partners, and interesting things that are happening in our community.

This past year has been one of blessings, joy, challenges, and heartache for our family. It seemed to be a particularly difficult year, but we are looking forward to 2016 in a new, fresh way. It’s easy to get distracted and lose focus on the important things. Dwelling on the immediate challenges of each day seems all-consuming at times and robs us of joy. It’s time for a change!

2016 is going to be a year of service and giving back to you, and we have some great things planned this year. We hope you’ll join Fuqua Group in our endeavors to make a difference each day. We plan to stay in touch more, offering you information that will hopefully interest you, and giving you opportunities to help us give back to those in need. You’re going to hear from us, and we would love to hear from you!  

We have plenty of resources in our business and this is just one way we plan to share them. And we would respectfully ask that if you know someone that needs help buying or selling -- please pass our name along. We absolutely love referrals and promise to take care of them!  

Looking forward to a great 2016!

--Cheryl