Posts Tagged ‘lebanon’

Staging Your Home Like A Pro

home stagingh

 

Follow these five professional tips to make your space more functional and enjoyable to live in – whether you’re selling it or staying put.

 

  1. Clean and de-clutter – A clean house speaks volumes and gives the impression it’s usually clean. So crank up Pandora, find your favorite station and get to cleaning!
  2. Light It Up – For a warm glow, aim for 100 watts per 50 square feet. Open those windows and showcase the natural light too!
  3. Refresh your palette – Updating paint colors to meet current trends and is great (and cost effective) way to change the overall look of your home. Just be sure the new color coordinates with existing features.
  4. Curb Appeal Matters – First impressions are so important! Simple things such as power washing your home, pulling weeds, adding flowers, or even trimming the shrubs make a huge difference visually.
  5. Do a scent check – Do you smell that? Just because you love Yankee candles newest fragrance doesn’t mean a potential buyer won’t be overwhelmed by the smell. Choosing a “clean” scent is best if you need to use an air freshener.

 

G Team

Cumberland Real Estate

121 Public Square

Lebanon, TN 37087

http://www.GTeamTN.com

 

Sources: Wells Fargo Volume 8 Issue 5 Newsletter

Advertisements

Why should I refinance?

Positive statements by the Federal Reserve Board regarding the pace of future hikes in interest rates and the release of weak employment data have served to bring rates down moving into the spring selling season. This unexpected move in rates give Americans a unique opportunity to save money through refinancing or making their new dream home more affordable. From mid-September of last year to early-April of this year, Freddie Mac has reported that average rates on a 30-year fixed loan have moved down slightly more than one-half of one percent. This amounts to a savings of more than $1,500 annually for a $300,000 mortgage and $45,000 over the life of the mortgage. Recently, Black Knight Financial Services found that, in light of recent interest rate decreases on home loans, 7.1 million Americans would currently benefit by refinancing. In addition, Zillow has reported that 5.2 million renters are planning to purchase a home in the next year. Sources: Freddie Mac, Zillow & HousingWire

Fifty-four percent of for-sale listings of existing homes are within reach for a median-income household in the U.S., according to a new analysis by realtor.com®. Their analysts used the national median income of $51,801 to determine how many of the site’s 1.6 million listings would be affordable to an average family, while also assuming a 20 percent down payment and 30-year fixed-rate mortgage. The monthly payment couldn’t exceed 28 percent of the family’s income. “So far this year we are hearing from home shoppers that finding a home that meets their needs or budget is the biggest impediment to buying,” says Jonathan Smoke, realtor.com®’s chief economist. “The good news from this data is that more than half of the listings nationwide are by definition affordable.” Realtor.com® analysts also found that existing homes tended to be much more affordable than new homes. In February, realtor.com® had more than 7,700 actively selling new-home communities listed, with an inventory of nearly 57,000 homes available for sale. Only 21 percent of those new homes, however, were deemed affordable. Source: realtor.com®

As Millennials begin to enter the homebuying market in larger numbers, homes will get a little smaller, laundry rooms will be essential, and home technology will become increasingly prevalent, said panelists during an International Builders’ Show press conference on home trends and Millennials’ home preferences. NAHB Assistant Vice President of Research Rose Quint predicted that the growing numbers of first-time homebuyers will drive down home size in 2015. Three million new jobs were created in 2014, 700,000 more than the previous year “and the most since 1999,” Quint said. At the same time, regulators have reduced downpayment requirements for first-time homebuyers from five percent to three percent and home prices have seen only moderate growth. “All these events lead me to believe that more people will come into the market, and as younger, first-time buyers, they will demand smaller, more affordable homes,” Quint said. “Builders will build whatever demand calls out for.” Of the Top 10 features mentioned by home builders, four have to do with energy efficiency: Low-E windows, Energy Star-rated appliances and windows and programmable thermostats. The top features: a master bedroom walk-in closet and a separate laundry room.

Source: National Mortgage Professional

Real Estate News

Builder confidence in the new-home market rose to its highest reading in nearly 9 years, according to the latest reading from the National Association of Home Builders/Wells Fargo Housing Market Index. September marked the fourth consecutive month that builder confidence has been on the rise. “Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction,” says NAHB Chairman Kevin Kelly. For the new-home market, builder confidence rose to a level of 59 in September, according to the index. Any reading above 50 indicates that more builders view conditions as “good” than “poor.” The seasonally adjusted index measures builder perceptions of the single-family new-home market on home sales and sales expectations for the next six months, as well as builders’ perceptions of buyer traffic. All three of the index components in September posted gains, with current sales conditions and traffic of prospective buyers rising to 63 and 47, respectively. Expectations for future sales also rose two points to 67. Source: National Association of Home Builders

Some home buyers are making an unusual request: They’re asking to spend the night at a home before they make an offer on it. HGTV’s “Sleep On It,” which follows potential buyers as they stay overnight in two homes with the sellers’ approval before deciding which one to buy, hasn’t seemed to spark a national trend. But it has prompted such proposals to surface more often, real estate professionals say. The sleep-overs can help buyers gain a better perspective on what it actually would feel like to live at the home, whether the kitchen is the right size, the noisy neighbors are too distracting, or the water pressure just isn’t right. Corlie Ohl, a real estate professional at Citi Habitats in New York City, recalls a client who requested to take a shower in an $865,000 apartment he was considering purchasing. He wanted to make sure the place had adequate water pressure. “It’s the strangest request I’ve ever experienced in my life for someone who wanted to purchase an apartment,” Ohl says. “The seller said, ‘Yeah, I guess, as long as he brings his own towel.” Contracts are a good idea for any buyer sleep-overs to protect both parties from liabilities, such as loss of personal belongings, say real estate professionals. A couple in Boulder, Colo., were staying at a condo when they decided to check out the condo’s parking area at night. But, “as they exited the elevator, they were abruptly confronted by two police officers, weapons drawn,” says real estate professional Bob Gordon. The neighbors had thought they were burglars. But the incident prompted the couple to put in an offer immediately on the home, “knowing the neighbors would be concerned enough to call police,” Gordon says.
Source: US News and World Report

Did you know?

According to the 2013 annual report from the Wilson County, TN Joint Economic & Community Development Board (JECDB), presented by Executive Director, G.C. Hixson, here are a few stats we thought our readers might find interesting:

2,314 residential homes were sold in 2013 (increase of 18.7%)

$217,000 – Median Home price (increase of 14.2%)

74 Days – average days on the market

 

Wilson County is the place to be!!! Call us to make your move! 615-466-3030

What you need to know about Renters Insurance!

Renters Insurance
by Wes Dugan

One of the biggest misconceptions of most people who rent is that their landlord has insurance that covers everything. And that is simply not true.

Whether you are a college student looking for a place to rent, someone who just sold their home and decides to rent for a while, or whatever the case, you must have renters insurance to cover your personal possessions, furnishings, etc.

Renters insurance will also provide liability coverage. If someone gets hurt on your property, then you are protected. We live in a very litigious society, so it’s not worth the risk to not have this coverage.

Renters insurance can also help you pay for a place to stay in case you are displaced from your rental property by something like a tornado, or major repair. Keep in mind that most policies put strict limits on how long this can be used. So make sure you speak with your local insurance agent about this part of the policy.

You want to know the value of your property so you don’t get (and pay for) too much coverage. If you have hand me down furnishings, then you may get by with a policy that covers less than if you have new furniture you just purchased.

Most apartment complexes and other rental properties require that you have renters insurance before they will agree to rent to you. So this is something you need to have in place prior to renting any apartment or property.

The good news is the cost of the policies are minimal. Usually less than $15 a month gets you renters insurance that provides full coverage. Usually for less than $150 per year, you can cover all your belongings and protect yourself in case someone gets hurt while in your apartment, loft, or rental home. And if your apartment complex or landlord has certain safety features, such as sprinklers, alarms, etc., it could bring down the price of your policy.

So, don’t take any chances. Talk to your local insurance agent today to figure out what you need, as far as coverage, and make sure you are protected.

Article written by: Wes Dugan, Farm Bureau
214 Castle Heights Ave. N. Ste. A
Lebanon, TN 37087-3419
Phone: 615-453-9702
Fax: 615-453-9703

Real Estate Report March 2014

Wilson County Real Estate Report
March 2014

Spring is in the air and the Real Estate Market in Wilson County is in full bloom.

March real estate rebounded very well from our “freeze” in February. March ended with 174 residential single family home sales across the county, an improvement of 69 over the month before.

Mt Juliet dominated the market with 55% of the sales for the month with a total of 96. 6 of those sales were foreclosures/short sales while 31 were new construction. The median sales price in March in Mt Juliet of existing home sales is $225,900 with a median price p/sq foot of $105.55 and a median day on the market of 42. Homes are selling on average for 97% of sales price and have a median square footage of 2289. Of the 31 new home sales, 3 are in Del Webb and the rest are spread throughout Mt Juliet. The 28 new homes that sold out of Del Webb had a median sales price of $348,450 with a median price p/sq foot of $123.94 and a median square footage total of 2952.

Lebanon came in a strong second with 38% of the market share with 64 total sales in March. Of the 47 existing home sales, the median sales price was $164,500 with a median price p/sq foot of $90.06 and a median days on the market of 67. Homes in Lebanon are selling for an average of 97% of asking price and have a median square footage of 1959. New home construction is proving to be a strong factor in Lebanon as well. 17 new homes sold in Lebanon in March with a median sales price of $224,90, a median price p/sq foot of $111.25 and a median sq feet of 1947.

Watertown wrapped up March with 6 sales, none of which were new construction and 3 (50%) were foreclosures/short sales. The median sales price in March was $210,000 with a median price p/sq foot of $85.72. Homes in Watertown averaged selling for 94% of list price.

Old Hickory ended the month with 8 sales, 1 of which was new and no foreclosures/short sales. The median sales price in Old Hickory is $169,900 with a median price p/sq foot of $95.65 and a median days on the market of 82. The 1 new construction that sold in March sold for $466,000 with 3787 sq feet and had a lake view.

As the housing market in Wilson Co continues to in a seller’s market, we are experiencing a housing shortage as well as seeing multiple offers on the same homes become a common occurrence. Homes that are presented well and priced in the market are selling and selling quickly for the most part, some areas much quicker than others.

If seller’s are thinking of selling or buying, call your Realtor to see if now if the right time for you and your situation. Don’t miss out on this prime opportunity if you’re in the market!

Submitted by:
Amy Hamilton
2014 President
Eastern Middle TN Association of REALTORS

ATTENTION ALL SELLERS:

Has your home been for sale longer than 90 days? No showings? Well, today The G Team is bringing you the Top 5 Turn-Off’s for home buyers!!

1. Overpricing for the market. Remember your Realtor is going to give you the best advice on your markets current conditions, not your cousin’s sister in law’s husband twice removed that used to be a Realtor is Idaho in the 80’s. We PROMISE to give you the FACTS on our local real estate market!

2. Smells. No one wants to hear that their home is “smelly” but stink happens. Whether it’s from pets, smoke, water damage, or simply the lack of cleanliness smells happen to the best of us. No buyer wants to buy a home that smells. Our advice: identify the smell and remove the issue.

3. Clutter. When a buyer enters a prospective home you (the seller) want them to envision the home as their new home. If the first thing the buyer notices upon entering your home is stacks of papers and figurines full to the edges on all tables then the buyer’s attention goes to try to avoid knocking anything over instead of visually touring the home. Which brings us to furniture, too much furniture confuses the eye and makes it difficult for buyers to see the true sizes of a room.

4.Deferred maintenance. Just like people wear out, houses do too. As a homeowner, it is your responsibility to maintain your home. Buyers want a well maintained home, not a money pit. We’ve all heard the horror stories!

5. Dated decor. Buyers are looking at your home instead of buying new construction because of two things: cost and location. They may love your neighborhood but that doesn’t mean they’re willing to sacrifice modern amenities. Examples of items that can ‘date’ your home: popcorn ceilings, wallpaper, pepto bismol pink bathrooms, colors from 70’s & 80’s (i.e. harvest gold, avocado, soft blues and mauves) are just a few examples.

Call your local real estate experts, The G Team for all of your real estate needs! We can evaluate your home before putting it on the market, help you with buying your first home or your dream home or even manage property for you! Call us today at 615-466-3030.