Real Estate Blog

TriCities Valentine Day Events

Treat your Loved One to a TriCities Area Valentine's Day Event. 

SINGING VALENTINES: Greater Johnson City/Jonesborough area. Feb. 14, 12:30-5:30 p.m. Jonesborough Repertory Theatre Players will present personal greeting and a musical expression of your love with singing Valentine to office, home, classroom, restaurant or anyplace, $15. 423-791-4440.

VALENTINE SERENADE: Bristol Virginia Parks and Recreation Department’s Cupid have lined up singing duet teams to deliver that special someone a melody of love and / or appreciation on Feb. 14, 9 a.m. to 5 p.m. Along with their song, a rose and card will be presented at each visit. $17 per visit. To request a serenade, call 276-645-PARK.

LAMOUR TOURJOURS VALENTINE’S CONCERT: Bristol, Tenn.,

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Low housing inventory in the TriCities

The most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade.

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed.

According to NAR’s Chief Economist, Lawrence Yun,

“Pending sales bounded last month as enough buyers fended off rising mortgage rates and alarmingly low inventory levels to sign a contract.”

So,

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Writing an offer is exciting and the first step to buying your new home. When you have reached this point in the process, the homework has all been completed, and it's time to get down to business. Start with a comprehensive data analysis of sold comparable properties.  Base your offer on real comparable data.  We know what is available now and this is the one.. What will you need to make the offer? 

  1. Financing or Proof of Funds - Make sure everything is in line with how you will pay for the property and you have the funds accessible or a preapproval letter from a lender.

  2. Be Prepared to Negotiate - My job is to get you the best deal as your buyer's agent.  This means they won't always take the first offer. Every situation is different and we
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Tips for Preparing Your House For Sale

Tips for Preparing Your House For Sale [INFOGRAPHIC] | MyKCM

Highlights:

  • When listing your house for sale your top goal will be to get the home sold for the best price possible!
  • There are many small projects that you can do to ensure this happens!
  • I have a list of specific suggestions for getting your house ready for market and a great resource for finding local contractors who can help!
  • If you are thinking about putting your home on the market. Give me a call and we will get started. 423.366.2353
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Getting PreApproved for a home loan

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. 

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you

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Your Dream Home

It appears that Americans are regaining faith in the U.S. economy. The following indexes have each shown a dramatic jump in consumer confidence in their latest surveys:

  1. The University of Michigan Consumer Sentiment Index
  2. National Federation of Independent Businesses' Small Business Optimism Index
  3. CNBC All-America Economic Survey
  4. The Conference Board Consumer Confidence Survey

It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true.

If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components

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Negotiate

Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to do it on their own. In today’s market: you need an experienced professional!

You Need an Expert Guide if You Are Traveling a Dangerous Path

The field of real estate is loaded with land mines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home.”

A great agent will also have relationships with mortgage professionals and other experts that you

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Low Inventory Real Estate Market

The latest Existing Home Sales Report from the National Association of Realtors (NAR) revealed a direct correlation between a lack of inventory and rising prices.

We are all familiar with the concept of supply and demand. As the demand for an item increases the supply of that same item goes down, driving prices up.

Year-over-year inventory levels have dropped each of the last 18 months, as inventory now stands at a 4.0-month supply, well below the 6.0-month supply needed for a ‘normal’ market.

The median price of homes sold in November (the latest data available) was $234,900, up 6.8% from last year and marking the 57th consecutive month with year-over-year gains.

NAR’s Chief Economist, Lawrence Yun had this to say:

"Existing housing

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