Get the Latest Chattanooga Real Estate News Right Here

 

July 3, 2018

Do I Sell My House By Owner

Do I Sell My House By Owner or Not?


Homes are selling so quickly right now, should you sell your home by owner?
You might find 1 buyer for your home and negotiate a contract, but wouldn't you rather have everyone who is looking at homes like your see your home at one time?
Because of the lack of inventory of homes for sale right now, many people are seeing multiple offers on their homes when they put them on the market with a Realtor.  Multiple offers means that you sell your home for a higher price and for better terms.  Homes sell for 13% more money with a Realtor than by owner, which is way more than the commission that you would pay a Realtor.  I know it is tempting to "save money" by selling it yourself, but you end up making less money selling it yourself.  Call Nathan Walldorf to sell your home.  He has the kind of marketing that gets the home in front of even more people than the typical Realtor in less time.  Nathan is also a broker and has been in real estate his whole life.  Call Nathan at 423-544-7700.

Posted in Selling Your Home
June 29, 2018

Chattanooga 4th of July Fireworks

Where to see Chattanooga 4th of July Fireworks:

June 29th:
Lafayette, GA - Freedom Fest - at the Municipal Park Center, 638 S. Main St.  5 p.m., music will be provided by 8TRK at 5 p.m. and Babe's Bayout from 8-10 p.m., followed by fireworks.


July 2nd:
Rossville - Lake Winnepesaukah, 10 PM.


July 3rd:
Collegedale - Veterans Park, Apison Pike, 9:45 p.m.
Hixson - Fireworks at Camp Columbus, 8601 Camp Columbus Road, on Tuesday, July 3, beginning at 5 p.m.
North Chattanooga - Pops on the River - Coolidge Park.


July 4th:
Downtown Chattanooga - AT&T Field after the Lookouts vs. Birmingham Game.
Lakeside - Barbecue and fireworks. Wednesday, July 4, from 6 to 10 p.m. in Lakesite City Park.
Signal Mountain - Fireworks at the soccer field of Signal Mountain Middle-High School between 9:15 to 9:30 p.m.
Soddy Daisy - In Soddy-Daisy Park - food and craft vendors, train rides and other fun for kids and a car show from 9 a.m. to 2 p.m. Fireworks at 9:45 p.m.
Lookout Mountain - The Lookout Mountain Club will have their annual firework show at 8:45 PM on July 4th.  Members and guest of members can enjoy a buffet style dinner before the fireworks begin by the pool.
Rossville - Lake Winnepesaukah, 10 PM
Trenton - Jenkins Park (103 Price St).

Posted in Events
June 28, 2018

5 Steps to Sell Your Home

Here are 5 Steps to Sell Your Home.

    1.    Price it Right - buyer have the internet too, and they will research your house to figure out what it is worth.  If they have an agent, the agent will give them comparable sold homes to help them estimate value. Hire the Agent who Tells you the Truth about the Market - Don’t hire the guy that will tell you anything to get the listing or the one that suggest the highest for the house unless he or she backs that pice up with comparable sold home info.   

     2.    Make the House Move-In-Ready - No one wants to remodel your pink and baby blue bathrooms.  Do some remodeling, painting, cleaning and freshening up before you put the house on the market.  Most buyers have a hard time seeing potential, and they don’t want to or can’t afford to remodel your house.  Make the Outside Inviting - Do some landscaping to make your house look like a home that someone could live in.  Put in boxwoods, seasonal flowers to add some color, and mulch.  Get rid of the “cars in the yard.”
    3.    Don’t get Offended by your 1st Offer - Your first offer will be low, because buyers think they own the market right now.  Counter the offer and find a price that will work for both parties.  don’t get stuck over fighting over a tiny bit of money.  Usually a few thousand dollars isn’t worth loosing the sale of your home.
    4.    The Home Inspector is Coming - The home inspector is paid to find things.  You may have to make a few repairs to things that the home inspector finds.  It is all part of the process.  A good agent will help you determine what is reasonable to repair and what is not.
    5.    Be Patient with the Lending Process - Lending is taking a while.  They are picking some people and their finances to pieces.  Be patient.  If the closing is delayed for a week due to the loan. be willing to wait.  After 2 weeks, you may start to get concerned.  

Good luck selling your home.

Call Nathan Walldorf. to help you sell your home.  We’re professionals at Selling Chattanooga area homes since 1926.  423-531-9000.

See the video that goes with this list on YouTube.  Search “5 Steps to Selling Your Home.”  ChattanoogaHomesTV.

Posted in Selling Your Home
June 8, 2018

Bathrooms Dethrone Kitchens as the Top Home Remodeling Job

According to the National Association of Home Builders newly released survey, bathrooms are now the most popular room to remodel over kitchens. 

The 2018 NAHB Remodelers Chair, Joanne Theunissen, says that people are leaning towards smaller renovation projects like bathrooms rather than larger renovation projects like kitchens or additions.  Theunissen also says that, "Home owners are finding cost-effective and [faster] upgrades can also add comfort and value to their homes."

The remodelers survey found the following to be the most common remodeling projects in 2017:

  • Bathroom remodeling - 81%
  • Kitchen remodeling - 78%
  • Whole house remodeling - 49%
  • Room additions - 37%
  • Window & door replacements - 30%

Making a home more energy efficient is a growing area in remodeling as well.  Low-E windows are the most common energy efficiency updates that home owners are making right now according to the NAHB.  High-efficiency HVAC units and programmable thermostats also rank highly among energy efficiency updates in 2017. 

Source: Realtor Magazine

June 1, 2018

Add Curb Appeal to Your Chattanooga Home

Add Curb Appeal to Your Chattanooga Home

The National Association of Realtors (NAR) gives many tips on how to prepare your home for sale.  The following list is a great list of items to do on the outside of your home to improve the curb appeal.  The way the home looks on the outside determines whether a home buyer will book an appointment to see your home or even look at the interior photos of your home.  Here are NAR's curb appeal tips:

Trim bushes and branches so they don’t block windows or architectural details.
Set a pot of bright flowers (or a small evergreen in winter) on your porch or front walkway.
Install new, matching locks and knobs on your front door.
Repair any cracks or holes in the driveway, and clean oil spots with degreaser and a steel brush.
Edge the grass around walkways and trees.
Stow your garden tools and hoses out of sight, and clear kids’ toys from the lawn.
Buy a new mailbox.
Upgrade your outdoor lighting.
Purchase a new doormat for outside your front door.
Clean your windows, inside and out.
Polish or replace your house numbers.
Mow your lawn. Also, turning on the sprinklers for 30 minutes before the showing will make ?the whole yard sparkle.
Place a seasonal wreath on your door.

Call the Walldorf's to sell your home at 423-531-9000.

Posted in Selling Your Home
May 29, 2018

Reeling-in Dodd-Frank Means More Building

Reeling-in Dodd-Frank Means More Building

During the recession, the CFPB (Consumer Financial Protection Bureau) created the Dodd-Frank Act to protect the American financial system from future bank collapses and to make the lending process more transparent for the public.  Some of the “protections” put in place created a heavier burden on smaller to mid-sized banks than on the larger banks.  The smaller and mid-sized banks are the ones that do a majority of lending to smaller home builders.  Small and mid-sized banks had to pass “stress tests,” which prevented banks from being able to do small scale construction loans. 

In today’s real estate market, where the inventory of homes is very low across the entire country, new construction is badly needed.  Not only is inventory low, but household formation is  exceeding the housing stock that we currently have. 

Reeling-in or rolling back some of the Dodd-Frank Act, allows banks to lend to builders more easily and should spur more development.  Lawrence Yun, the National Association of Realtors (NAR) chief economist, says that the home building industry has been dominated by large corporations under Dodd-Frank.  Now, “small time homebuilders will have better access to capital to build homes.”  This does not mean that banks will start lending money to low credit people again.  It only means that more loans to builders will be available.

The rules governing the closing disclosure in the Dodd-Frank Act will remain intact.  Many lenders have appreciated the transparency that the Closing disclosure rules create.  The rules force lenders to provide a Closing Disclosure up to 3 days before a closing takes place.  The fees are not a surprise at the closing table like they used to be.  A home buyer even gets an estimate of all of the fees within 3 days of applying for the loan as well.

Source: https://www.inman.com/2018/05/23/what-the-dodd-frank-rollback-means-for-real-estate/

Posted in Market Updates
May 23, 2018

15 Most Affordable States to Buy a Home

Here are the 15 most affordable states to buy a home according to Inman news.  Tennessee and Georgia made the list, but Tennessee was number 15.  Georgia was 11.  That does not surprise me as many home buyers have found Georgia to be a more affordable option than TN in the Chattanooga area.

What did surprise me is that Washington DC is more expensive per square foot than California according to the same study. Hawaii was the 2nd most expensive state and California was the 3rd most expensive state for real estate.  Massachusetts came in 4th.

 

Source: https://www.inman.com/2018/05/22/the-states-where-you-can-get-the-most-bang-for-your-buck/?utm_source=dailyheadlines&utm_medium=email&utm_campaign=localnewsletter&utm_term=&utm_content=674339_default_textlink_14

May 10, 2018

Don't Miss Out on the Chattanooga Home You Want

Don't Miss Out on the Chattanooga Home You Want

The real estate market right now is one where that are few properties for sale and many home buyers looking to buy a home.  What that means is that you have a good amount of competition when buying a home.  You are not the only person looking at a particular home.  If the home looks good to you, it probably looks good to many other people as well.  For most home buyers, they don't physically see the kind of competition that they have for a home.  When a home goes on the market that you like or has a price change, it is most likely being shown to many different potential home buyers.  

 

When I, as a Realtor, see that my client is interested in a Chattanooga home for sale, I call the seller's Realtor to see if many people are showing the home and even to see if the home is still available.  Sometimes you never know.  The seller may have just accepted an offer and their agent may not have changed the status of the property in the MLS yet. On Monday, I made that very phone call to a seller's Realtor to find out that the Chattanooga home that my client liked had received an unaccepted offer the evening before.  That meant that my home buyer had time to make an offer, but her offer had to be a good offer.  She made a great offer, and she got the property.  If she had made a lower offer, the seller could have asked both parties to bring their highest and best offers within a few day's time, and my home buyer would have paid more money that if she had simply made an acceptable offer from the beginning.  In today's market, that is the advice that I give to my home buyers.  If you want to make an offer on a property, make it an acceptable offer (meaning an offer that the seller would not counter) as long as the property is worth that amount of money.  If the Chattanooga home seller does counter your offer, that gives other potential home buyers the opportunity to make an offer and leads to you having to pay more money for the house than you would had you made an acceptable offer from the start. 

 

I know that logic seems to defy all that you have heard about bartering.  If that logic were not true in today's market, I would not be giving it.  Would you rather pay a fair price for a home from the get go or pay an inflated price after you make your low offer?  It's up to you.  Don't miss out on the Chattanooga home that you want by making the wrong offer. 

July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates