Special offer

Morristown, TN Real Estate News

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
\\ The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morristown Tennessee, Whitesburg, Talbott, Russellville, Sevierville, Bean Station, Dandridge, Pigeon Forge and surrounding communities.We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others. Each office independently owned and operated.Elite Realty Group is a full service real estate company serving Morristown TN Real Esta...
Comments 4
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Making a Good First ImpressionIf you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer both emotionally and visually, thus prompting them to make an offer. In addition, what the buyer first sees is what they think of when they consider the asking price.A bad first impression can dissuade a potential buyer. Don’t show your property until it’s all fixed up. You do not want to give buyers the chance to use the negative first impression they have as means of negotiation.Ask around for the opinions others have of your home. Real estate agents who see houses everyday can give solid advice on what needs to be done. Consider what architects or landscape designers have to say. What you need are objective opinions, and ...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Know Why You are SellingIf you know exactly why you are selling then it is easier for you to follow the right plan of action for getting what you want.If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.It’s always good to know how low you will go, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Insist on a Home InspectionA professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property’s defects.A home inspection usually covers the following: Plumbing conditions - if there is leakage or clogging Roofing conditions - the extent of deterioration, if there is leakage Electrical conditions - if there are inadequate circuits or potential fire hazards Structural problems - if there are problems with the underlying foundation of your home As a seller, the home inspection reports protect you because it establishes the actual condition of the property at the time of sale.The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Getting the Highest Price in the Shortest TimeIn order to get the highest price in the shortest time, you need to know how to market your home. The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.The most important factor of marketing your home is pricing it right. Your price should be adjusted to reflect the market and your property’s worth. The key is to get as many people as possible checking out your fairly priced property. If your property is not priced fairly, there will be no buyers because your price is set too high.Another important factor is the condition of your home. Make sure that your home looks ready to be sold. Fix any defects (peeling or faded paint, cracks, stains, etc...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
For Sale By Owner - A Good Idea?FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind FSBO is that by selling your home yourself, you save the approximate 6% that would be the agents’ commission.6% may not sound like a lot, but it can add up, especially on more expensive homes. But before you run off and decide to sell your home FSBO, you must remember that to get a savings like that, there must be a cost. So what’s the catch? Selling FSBO is hard. A lot harder.Only about 10% of sellers that decide to do FSBO are successful at it. And not all of them end up saving themselves money. FSBO sellers often end up accepting a lower price for their home than they would with an agent.There are...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Finding the Right AgentNot all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. He/she should know the market and provide information on past sales, current listings, his or her marketing plan, and at least 4 solid references. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs.Try to go with a local agent. They can better serve your needs because they should be more familiar with the local market conditions, local prices, and what’s hot or not in your community.The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morrist...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Considering OffersWhen reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer.Some terms that may work in your favor: higher-than-market-interest in a second mortgage for your home the buyer will pay for most or all of the closing costs the buyer will take care of any repairs quick close - the buyer is pre-approved and ready to close in a timeframe that best suits you all-cash deal When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs.The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and ...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Why You Should Not Make Any Major Credit PurchasesDon’t go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Your mortgage pre-approval is subject to a final evaluation of your financial situation.Every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility. For example, a car payment of $300/month could mean that you qualify for $30,000 less in a mortgage.Even if you have accumulated enough savings, you should consider not making any large purchases until after closing. The last thing you want is to know that you could have purchased a new home had you curbed the urge to spend.The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale ...
Comments 2
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Use a Buyer’s AgentIt’s important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed.First, find an agent who represents you and not the seller. This is beneficial during the negotiation process. If you are working with a buyer’s agent, he or she is required not to tell the seller of your top choice. In addition, he or she is also focused on getting you the lowest asking price.Also, when you use a buyer’s agent, you will see more properties. Not only are they plugged into their Multiple Listing Service, but they are also actively finding homes that are listed as FSBO, or homes th...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Thinking About Buying a Foreclosure?With the housing bubble burst and the subprime mortgage crisis, millions of homeowners found themselves unable to make their mortgage payments. Many found themselves owing more on the house than the home was worth. Many just walked away from their homes. As a result of these complicated issues, millions of homes were foreclosed.While this isn’t the only reason for which homes are foreclosed, it has been a widespread one. With all the foreclosed properties, there has also been extensive interest in buying these properties at a bargain price.It is true that foreclosed properties can be priced at a significant discount, but they are also a much riskier investment. Before making an offer on a foreclosed property, do your due diligence.Things you must do b...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Is Buying a Home Still a Smart Plan?With the burst of the housing bubble, credit crisis, and millions of foreclosures across the country, you may wonder if buying a home is such a good idea after all. However, it’s important to consider all of the facts. The important message to take away from these events is not that buying a home is a bad idea, but that you must be smart about buying your home.The housing market, like every type of market, unavoidably has its ups and downs. That doesn’t mean buying a home is a bad investment. As a long-term investment, homeownership is still one of the best investments for individual households. Historically, real estate has consistently increased in value, despite shorter periods of depreciation due to local markets and/or national economic condition...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Importance of InspectionAs a buyer, you are entitled to know exactly what you are getting. Don’t take anything for granted, not even what you see or what the seller or listing agent tell you. A professional home inspection is something you MUST do, whether you are buying an existing home or a new one. An inspection is an opportunity to have an expert look closely at the property you are considering purchasing and getting both an oral and written opinion as to its condition.Beforehand, make sure the report will be done by a professional organization, such as a local trade organization or a national trade organization such as ASHI (American Society of Home Inspection). Not only should you never skip an inspection, but also you should be present with the inspector during the inspection. Th...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Hot, Normal, and Cold MarketsHot MarketThis is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.Normal MarketIn a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessar...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Getting a Legitimate Lender and Getting Pre-ApprovedIt used to be that buyers could go house shopping and when they have found their dream home, then they go to get pre-approved. However, in today’s market, that has proven to be one of the least effective methods in landing the dream home.Most lenders can pre-qualify you for a mortgage over the phone. Based on general questions about your income, debt, assets, and credit history, lenders can estimate how much mortgage you qualify for. However, being pre-qualified and pre-approved are different things. Pre-approval means that you have applied for a mortgage; you have filled out the mortgage application, received your credit report, and verified your employment, assets, etc. When you are pre-approved, you know exactly what the maximum loa...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Finding the Right SellerThe best seller is one who is highly motivated. A highly motivated seller is more likely to sell at a price that is less than his or her house is actually worth. And it matters that you find out why. Learning the reason why can help you get the price you want and help the seller get what they want: a timely sale.When given the opportunity to meet with sellers, ask them why they are selling. The reason could be anything, such as a job change to a new location or financial problems. If you can solve their problem, whether it is cash related or time related, do so. For example, if the sellers are highly motivated because they need to move quickly, give them a fast sale - and a lower price. If you can make an offer, even a low one, that gives them cash in a short tim...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Build a Plan of Action and Get ReadyBuying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It’s important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there.Before you can build a plan of action, take the time to lay the groundwork for your decision-making process.First, ask yourself how much you can afford to pay for a home. If you’re not sure on the price range, find a lender and get pre-approved. Pre-approval will let you know how much you can afford, allowing you to look for homes in your price range. Getting pre-approved also helps you to allev...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Avoiding Financial StressBy asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary.Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount translates into. Do not put yourself in the position where you will be paying more each month...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Your Savings and Down PaymentYour First Step Toward Buying a HomeWhen preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you should do - before you call on an ad, before you talk to a REALTOR®, before you shop for interest rates - is look at your savings.Why?Because determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home - including how you write your purchase offer, the loan programs you qualify for, and shopping for interest rates.Mortgage ProgramsIf you only have enough available for a minimum down payment, your choices of loan program will be limite...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Why Do You Need Title Insurance?Title Insurance.It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the benefits and procedures of title insurance. But if this is your first home, you may wonder, “Why do I need another insurance policy? It’s just one more bill to pay.”The answer is simple: The purchase of a home is most likely one of the most expensive and important purchases you will ever make. You, and your mortgage lender, want to make sure that the property is indeed yours - lock, stock and barrel - and that no individual or government entity has any right, lien, claim to your property.Title insurance compani...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Understanding ForeclosuresIt is an unfortunate commentary, but when economic activity declines and housing activity decreases, more real property enters the foreclosure process. High interest rates and creative financing arrangements are also contributing factors.When prices are rapidly accelerating during a real estate “bonanza”, many people go to any lengths available to get into the market through investments in vacation homes, rental housing and trading up to more expensive properties. In some cases, this results in the taking on of high interest rate payments and second, third and even fourth deeds of trust. Many buyers anticipate that interest rates will drop and home prices will continue to escalate. It is possible that neither will occur and borrowers may be faced with large bal...
Comments 0
Explore Morristown, TN
Morristown, TN Real Estate Professionals