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Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Curious about where there real estate market is going? While we do not have a crystal ball the future looks promising, especially in the Knoxville, TN area. Buyers are out there and homes are selling. In fact we had two homes in two completely different price ranges and areas go under contract after being on the market for less than 1 week.
Watch this informative video about the Real Estate Market Update for December 2009 courtesy of Keller Williams Realty in Knoxville TN.
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Have you thought about getting that bigger, better house in a better neighborhood?
NOW IS THE TIME!
Whether you need more space, want to upgrade your location, or for any other reason, the current real estate market presents a unique opportunity to capitalize by trading up!
5 reasons why this is the best market to trade up!
1. You will make money NOW on the trade!
Here's how this works. You currently own a condo that was worth $1,000,000 three years ago, and now it's worth $700,000 (that's right, it's gone down 30%!). You may be thinking, I've lost $300,000, right? Wrong!
What you do is go out and sell your condo and purchase the home of your dreams for $1,400,000. That house, three years ago, was worth $2,000,000 and you probably couldn't have afforded it. By buying it now, what you've just done is bought your new home at a $600,000 discount! Just like that, on the trade, you've made $300,000! This doesn't even take into account the money you'll save on property taxes because you're paying taxes on a $1.4M house, and not on a $2M house.
2. ... AND you will make money LATER when you sell your new home!
OK you've listened to my advice, bought that new home of your dreams and traded up. YES! Fast forward five years and the real estate market has gone up 20%. Let's take a look at what has happened. Your old condo is now worth $840,000, for a $140K gain over today's value. Your new home is worth $1,680,000, or $280,000 more than when you bought it today. Just like that, you've made an extra $140,000 on the trade!
3. You can likely buy a house you otherwise could not have afforded, and may not be able to afford again!
Going back to my example above, you probably couldn't have afforded that $2M house three years ago when you bought your condo. You also may not be able to afford it again in 3 - 5 years when the market rebounds. If you've been dreaming about a bigger home or one in a nicer area, now is really the time to capitalize.
4. It's much easier to trade up in a down market than in an escalating market!
I've had clients say that they will trade up when the market "goes back up." Let's take a close look at that. Let's say that 5 years from now, the market is back up 20% from today's values. You then sell your condo for $840,000 and your dream home is now worth $1,680,000. You've gained $140K on your condo (from today's values) BUT your dream home is now worth $280,000 more! That means that, by waiting, you've now spent an extra $140K to buy that house!
5. You'll probably get a better house by trading up in a down market!
The current market presents some very unique opportunities. In most areas, inventory is pretty high and buyers have a lot of great choices. By shopping in this market, you can really get the home of your dreams and take your pick of all the inventory available. In most cases, you can get a good deal on a great property in a terrific area.
The bottom line is that if you can afford it, now is a terrific time to upgrade! Interest rates remain at historic lows and there is plenty of financing available.
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Specializing in Los Angeles area residential real estate, including Los Angeles, Beverly Hills, Brentwood, Bel Air, Santa Monica, Sherman Oaks, Valley Village, Studio City, Encino, Tarzana and more!
Hire me or send me a referral because I have a defined and proven plan of action that I follow every day to help my clients achieve their real estate goals!
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DANIEL DIMA BATSALKIN
Principal Broker | C.E.O. | Boulevard Realty
310.933.4281 | dima@blvdrealty.com
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Looking for something to do other than being stuck in traffic or waiting in lines at local retail stores? The brand new (and I mean new, this place is not even open yet!) Jefferson Park YMCA is hosting a Pancake Breakfast with Santa for kids.
What a great opportunity to not only check out Knoxville's newest fitness center, but also enjoy some nice photo opts with Santa.
If you are not already a YMCA member you can also take this time to become a membership. This could be a great family Holiday present. As a current YMCA member myself, I highly recommend it- this was our family present 3 years ago.
Here is a breakdown of the event:
What: Pancake Breakfast with Santa
Where: Jefferson Park YMCA in Farragut TN
When: Saturday, December 19, 2009 8:00-10:00am (New membership signups from 8:00-11:00)
Why: Fun for the Kiddos! Great opportunity to check out the new facilities as the grand opening is not occuring until January 2, 2009.

Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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This Month in Real Estate Keller Williams Realty ............................................................................................................................................... Commentary
Small steps to economic recovery continued last month. Among the positive readings was the report of a third quarter GDP growth rate of 2.8 percent, which followed four consecutive quarterly declines. This advance comes in well ahead of that of our Canadian neighbors, whose econo
With the extension of the $8,000 federal housing tax credit into spring 2010, first-time buyers will now have an additional few months to purchase their dream homes. Expansion of the income restrictions now gives possibilities for higher earners to participate too. And the $6,500 tax credit now available to established homeowners with five consecutive years or more in their homes broadens the opportunity landscape. This in turn will allow the housing market more time to find a more solid footing on a sustainable recovery. Although economists continue to debate the overall shape of the recovery, it is widely agreed that the U.S. economy will take a long time to rebound. Unemployment is expected to remain high for several quarters and the number of underemployed is expected by some economists to remain a drag on growth prospects. On the brighter side, according to some economists, a slow and steady growth will likely fair better for the long-term well-being of the economy. Slower, sustained growth can help prevent dangerous asset bubbles, like the recent housing and technology bubbles, from growing and bursting. The Housing Market
Existing Home Sales - Up 24% from last year
Median Home Price - Very favorable
Inventory - Lowest level in more than 2.5 years
Mortgage Rates - Back at 4.78%
Affordability - Best since 1970s
Sources: National Association of Realtors, Freddie Mac Government Action New Fannie Mae Policies
In many markets dominated by distressed properties, buyers jumped off the fence in droves and as a result the number of homes for sale in the first tier of the market decreased significantly. When a new foreclosure becomes available for sale, it often is snapped up by investors with cash on hand, leaving the average home buyer looking for a place to live out of luck.
Fannie Mae introduced a new "First Look" initiative to address this and aid in the stabilization of neighborhoods.
This will hopefully give the average home buyer a greater chance of purchasing foreclosures and provide support to hard-hit neighborhoods, because owner-occupants are more invested in the long-term vitality of a community whereas investors typically are more invested in their monetary return from the property.
Increased Credit Scores
Fannie Mae is raising its minimum credit score from 580 to 620. This risk management measure will help protect Fannie Mae from future defaults and foreclosure by raising their standard and accepting less risky loans.
While risk management is a sound and healthy approach for an entity that the economy depends on, this underscores the importance that potential home buyers check their credit report early in the process, allowing more time to clear up any errors. Earlier this year, Experian, one of three major credit-reporting bureaus, began exclusively providing complete credit report information when purchased directly from Experian or obtained from the government annual credit report. Source: National Association of Realtors
FHA Signals Efforts to Manage Risk
In an effort to secure its financial health, the Federal Housing Administration plans to require borrowers to have more "skin in the game" soon. Over the past three years, FHA's market share has boomed from about 2 percent of all new loans to about 30 percent of all new loans this year and 20 percent of refinances. The escalading volume that the administration is currently handling calls for stricter requirements as evidenced by FHA's capital ratios falling to nearly 0.5 percent well below the minimum of 2 percent.
The agency is still analyzing the levels and time frames it wishes to tighten its standards but they expect to:
As one of the major players in the mortgage market, the health of FHA is imperative to the housing market and flow of credit to home buyers, as well as to the health of the overall economy. Taking measures to safeguard the agency from needing a government tax payer-funded bailout is a notable risk management measure.
According to a Keller Williams research study, the typical first-time buyer put down 3.5 percent this year. Those who want to take advantage of the tax credit before the April 30 contract, June 30 closing deadline may want to beef up their savings and check their credit report now in anticipation of any changes. Sources: National Association of Realtors, KW Research First Time Home Buyer Survey Topics For Buyers & Sellers
First Time & Distressed Property Home Buyers
What are other first time buyers doing? The tax credit extension and expansion in November has fueled new discussion about home buyers and the housing market in 2010. Here's a look at first-time buyers in 2009.
As elevated levels of distressed properties are expected to continue for the next few years, here is a glimpse of buying a distressed property:
* Distressed - Short Sale and REO, Foreclosure - REO Only |
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For a more detailed report with additional graphs and government action, please see the This Month in Real Estate PowerPoint Report. |
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Keller Williams Realty Knoxville : 5616 Kingston Pike Ste. 201 - Knoxville TN 37919 : 865-694-5904 |
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Keller Williams Realty Knoxville : 5616 Kingston Pike Ste. 201 - Knoxville TN 37919 : 865-694-5904 |
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Keller Williams Realty Knoxville : 5616 Kingston Pike Ste. 201 - Knoxville TN 37919 : 865-694-5904 |
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Yesterday we had the pleasure of meeting with a gentleman about selling his Knoxville area home. The homeowner is a contractor and it is his home that is up for sale. The homeowner took great pride and joy in the construction and built his home using a great product known as "Superior Walls".
So what exactly is a superior wall? While these walls are not that commonly used in the Knoxville TN area (yet), these walls have many benefits including:
Visit the superior walls website for more information
This fine home located in Hardin Valley is currently having a portion of the basement finished out and will be on the market in January and listed at $289,900. If you are interested in finding out more about this fine home contact us at Info@HomesForSaleKnoxville.com
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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