If you need assistance, please call 865-966-5005

Hutch & Howard - Your Real Estate Experts - Blog

Wednesday, May 22, 2024   /   by Brandon Hutchison

Mistakes to Avoid When Selling Your Home - Ignoring Necessary Repairs

Deferred maintenance refers to postponing necessary repairs or upkeep tasks on your property. Here's an expansion on why addressing deferred maintenance is crucial before listing your home for sale:
1. Impacts first impressions: When buyers tour your home, they are likely to notice any visible signs of neglect, such as leaky faucets, peeling paint, or cracked tiles. These issues can create a negative first impression, suggesting to buyers that the property hasn't been well-cared for and potentially raising concerns about hidden problems.
2. Reduces perceived value: Deferred maintenance can diminish the perceived value of your home in the eyes of buyers. They may view a property with multiple maintenance issues as less desirable or be hesitant to pay top dollar for a home that requires immediate repairs or upgrades.
3. Raises red flags: Buyers may interpret deferred maintenance as a lack of attention to detail or as a signal that the home may have more serious underlying issues. This! ...

  selling

Tuesday, May 21, 2024   /   by Brandon Hutchison

Mistakes to Avoid When Selling Your Home - Neglecting Curb Appeal

The exterior of your home sets the tone for potential buyers' perceptions. Neglecting it can immediately discourage interest before buyers even enter. Here's why it matters and how to address it:


Curb appeal influences perception: The exterior of your home is the first thing buyers see, shaping their initial impression. A poorly maintained exterior suggests neglect and may lead buyers to assume the interior suffers from similar issues, deterring them from further consideration.

Reflects property value: A well-maintained exterior signals that the property has been cared for, implying higher property value and reducing buyer concerns about hidden maintenance problems. Conversely, a neglected exterior can raise doubts about the property's overall condition and value.

Invites exploration: An inviting exterior encourages potential buyers to explore further. It creates a positive emotional response and draws buyers in, making them more likely to schedule a viewing and consider you! ...

  selling

Monday, May 20, 2024   /   by Brandon Hutchison

Mistakes to Avoid When Selling Your Home - Price it Right!

When selling your home, it's crucial to avoid common mistakes that can potentially impact your sale negatively.
Setting the price too high is one of the most common mistakes sellers make, and it can have significant repercussions on the sale of your home. Here's an expanded explanation:

Deterring potential buyers: When a home is priced above its market value, it can immediately discourage potential buyers from even considering it. Many buyers have a budget in mind and will filter out homes that are priced beyond that threshold. As a result, setting the price too high can limit the pool of interested buyers, reducing the chances of receiving competitive offers.

Prolonging time on the market: Homes that are priced too high often sit on the market for longer periods. The longer a home remains unsold, the more likely buyers are to question its value or assume that there may be underlying issues. Additionally, an extended time on the market can lead to stale listing syndrome, where b. ...

  selling

Tuesday, January 23, 2024   /   by Meghan McDowell

December 2023 - National Market Update

Key Highlights
Existing-home sales waned 1.0% in December to a seasonally adjusted annual rate of 3.78 million. Sales faded 6.2% from the previous year. The median existing-home sales price rose 4.4% from December 2022 to $382,600 – the sixth consecutive month of year-over-year price increases.
On an annual basis, existing-home sales (4.09 million) fell to the lowest level in nearly 30 years, while the median price reached a record high of $389,800 in 2023.
The inventory of unsold existing homes slumped 11.5% from the previous month to 1 million at the end of December, or the equivalent of 3.2 months' supply at the current monthly sales pace.
WASHINGTON (January 19, 2024) – Existing-home sales retreated in December, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slipped in the Midwest and South, rose in the West and were unchanged in the Northeast. All four regions experienced year-over-year sales decreases.
On an annua ...

  housing market, market update, median sales price

Tuesday, December 19, 2023   /   by Meghan McDowell

Common Types of Mortgages - What Do They Mean?

There are several types of real estate mortgages in the United States, each designed to meet the specific needs of borrowers.


Fixed-Rate Mortgage (FRM):
The interest rate remains constant throughout the loan term.
Monthly payments remain the same, providing predictability for budgeting.


Adjustable-Rate Mortgage (ARM):
The interest rate is variable and can change periodically based on market conditions.
Typically, there is an initial fixed-rate period followed by adjustments.


FHA Loans (Federal Housing Administration):
Insured by the Federal Housing Administration.
Often suitable for first-time homebuyers with lower down payment requirements.


VA Loans (Department of Veterans Affairs):
Available to eligible veterans, active-duty service members, and surviving spouses.
Usually offers favorable terms, including no or low down payment.


USDA Loans (U.S. Department of Agriculture):
Designed for borrowers in rural areas who meet income and property eligibilit! ...

  mortgage, home loans, financing

Keller Williams | Hutch & Howard
11400 Parkside Drive, Suite 120
Knoxville, TN 37934
865-966-5005

The data relating to real estate for sale on this Web Site comes from the IDX Program of the East Tennessee REALTORS® Multiple Listing Service. © Copyright 2024. All rights reserved. This information is being provided for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS. Last updated May 22, 2024 Copyright © 2024
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS. Copyright 2024 Great Smoky Mountains Association of REALTORS®. All rights reserved. Data last updated May 22, 2024
This site powered by CINC: www.cincpro.com