Winning Home Advice

Impacts on the 2011 Housing Industry

2012-01-16T11:29:00.000-08:00

“RealtorMag” the on-line magazine published for the National Association of Realtors, listed issues impacting the housing industry in 2011. These were noted by Trulia’s chief economist, Jed Kolko in a “Time” magazine article. Some of these issues and their impacts, paraphrased, are:

1. Fallout from banks approving foreclosures without proper review procedures. The consequence is that banks now have to take extra precautions. Regulators and banks are working on a settlement that could improve the pace of foreclosures in 2012.
2. Natural disasters: tornadoes, floods and hurricanes pushed the National Flood Insurance Program into the spotlight. This program was still strapped financially from Hurricane Katrina. Thus, insurance premiums did not fully cover the Katrina disaster. Home owners living in flood-prone areas must now have flood insurance to get a mortgage. If the National Flood Insurance Program is not taken beyond its current May 2012 extension, the future of mortgages in areas prone to floods is uncertain.
3. Loans backed by Fannie Mae, Freddie Mac and FHA. Mortgage lenders are willing to charge lower rates for loans backed by Fannie and Freddie with a lower conforming loan limit. A smaller number of loans now qualify for this backing according.

Regardless of impacts to the housing industry in 2011, it is now 2012. The future is ahead. While understanding negative impacts on the past can help us plan for the future, it is time to look for new ways around obstacles to make the dreams of home buyers and home sellers come true.

Energy Efficient or Green Homes

2011-12-12T13:03:00.000-08:00

A major expense squeezing homeowners today is heating and cooling cost. Although green upgrades are often expensive, their benefits can be large over time. Witness solar panels, double pane windows, and replacing appliances. All of these require sizable investments up front. But energy efficiency doesn't have to be expensive or labor intensive.

Small changes such as weather stripping can add up over time. Flourescent light bulbs can replace incandescent with minimal investment. Wrapping hot water heaters with insulation is inexpensive and requires little effort. In addition, the temperature on a hot water heater can be turned down to reduce waste and reduce accidental burns. Some laundry can be washed in cold or warm water rather than hot. Shorter showers will reduce hot water costs. Adjusting the heat and air thermostat 2-3 degrees can make a sizable difference in utility bills. These options require minimal effort and investment.

Check off energy efficient and environmentally-friendly changes one at a time, starting with the least expensive if you wish. You may be surprised at how quickly you see a difference in your utility bill. Most worthwhile and important changes in life take time. "Going green" may bring attractive results in your budget with minimal effort and investment. The extra money at the end of the month can provide the motivation you need to help you decide to use that bonus or income tax refund so you can install more costly green options, benefiting you and your neighbors.

Lending Down by Banks

2011-12-09T08:55:00.001-08:00

According to data from the FDIC, in the year ending March 2011, loan volumes fell $260 billion. This is in the wake of deposits that grew by $300 billion and assets that have grown by $80 billion. In addition, profits were up by $12 billion.

Lawrence Yun, Chief Economist of the National Association of Realtors®, noted in a recent article that the economy is slowed when banks accumulate profit at the expense of lending.

Unemployment, underemployment, the trace deficit, tornadoes, and many factors can affect the economy; but banks have traditionally paid interest on deposits and loaned to depositors while investing to make additional profits.

Tight lending conditions can result in further price declines in home values, although prices in some areas are solid or heading up according to Yun.

The housing recovery and economic recovery can be sped up by banks returning to their roots of lending more when deposits are up. Although caution has been in order as more homeowners have defaulted, particularly when mortgages are under water, reducing lending to a trickle is not the way to keep the economy healthy. In the long term, what is good for America is good for the banks.

Another Big Dip in Home Prices

2011-05-31T10:05:00.000-07:00

Home prices have dipped again, in the 3rd straight quarterly drop, down 5.1 percent from a year ago. According to a 5/31/2011 internet article on the CNNMoney website authored by Les Christie, prices are the lowest they have been since 2002. Prices are down almost 38 percent from the peak five years ago according to S&P/Case-Shiller national home price index.

A spokesman for S&P, David Blitzer, said the downward spiral in homes prices continues with no relief in sight.

Mr. Christie pointed out that the housing market went through a brief recovery in mid-2009, recovering nearly 5 percent of losses but resumed a slump after homebuyer tax credits expired last April.

Foreclosures and repossessed homes continue to flood the market, making it difficult for conventionally sold homes to compete and keep their value. This has a devastaing effect on new construction which typically contributes to economic recovery. But new construction frequently cannot compete with today's existing homes. The sale of existing homes does not contribute nearly as much to economic recovery as new home sales which bring with them jobs for construction workers.

And what is the good news? Now may be a good time for people who wish to buy a home at a reduced price or invest in existing homes they fix up for resale or utilize for rentals. Carefully evaluate your own circumstances with specialized professionals so you can make the most of your search and wisely use any investment dollars.

Low-Cost Tips to Improve Home Sales Potential

2011-05-29T18:24:00.000-07:00

Welcome to Summer! Time to shed the winter blues and increase your home's sales potential through low-cost improvements. According to Melissa Dittmann Tracey of Realtor House & Home, home sellers don't want to spend big bucks to improve their chances with today's smart buyers. Melissa writes there is a lot that sellers can do at low or even no cost. Try these tips:

1. Pack up all the extras before you sell your home. Rooms appear more spacious and inviting if they are not cluttered with too much "stuff."
2. Pick a focal point for each room (bed in bedroom or piano in music room, for example) and make that the focus of your decorating and placement.
3. Attend to details like replacing burned-out light bulbs, and putting away items you aren't using. Keep it neat and well maintained.
4. Spruce up stainless steel sinks and make them shine with baby oil and club soda according to DoItYourself.com.
5. Let the light shine in. Open blinds and clean your windows!
6. Use an area rug over lack-luster flooring to define your living area and add a touch of color.

Use your creativity. You will be surprised at the results you can achieve on a low budget. And in the mean time, you will enjoy the living spaces more until a sign is placed in the yard with "Sold."

Tips for a Cozy Kitchen

2011-03-27T18:54:00.000-07:00

With today's busy lifestyles, home buyers are often opting for cozy, connected kitchens according to Realtor magazine. The kitchen is becoming a place for more than cooking. It is a gathering place for entertaining, homework, conversation, and projects. Homes are trending smaller. ,Thus versatility is a priority for optimal kitchen design. Dining rooms are not segregated from the kitchen but blend openly with kitchen space. Likewise, living room space blends into the same area without the confinement of walls. So. What can you do to create a social and cozy feel to a kitchen that is already created as you prepare your home for sale or if you can't afford to remodel? Try these tips to cozy-up your existing kitchen: 1. Soften the light in the room with sconces or accent lighting. 2. Use comfy, upholstered chairs rather than wooden bar stools. 3. Add functional and conversational space with a kitchen island. 4. Add a buffet, cupboard, or wall shelving for useful storage space and to attract buyers who want more storage. 5. Repair cabinets; replace broken hardware, and replace broken countertops as you are able. Don't stress over what you cannot do. Take one step at a time. You don't have to spend a lot of money or time to make a kitchen cozy. Come up with your own unique solutions. Sometimes an item moved from one room into another such as a painting moved from the hallway to the kitchen can soften the look and feel of the kitchen. You will get ideas as you observe other's homes or visit interior design shops. Most of all, enjoy the journey! And call me, Pat Branham, if I can help you find your ideal kitchen in a desirable home!

Tips for Staging Your Home Inexpensively

2011-03-04T08:37:00.000-08:00

The National Association of Realtors "houselogic" website offers many tips for home buyers and sellers. Whether you live in Chattanooga, TN or another area, being familiar with inexpensive home staging tips can boost your potential to sell your home in today's competive market.

See the full article and explore the website at: http:\\buyandsell.houselogic.com. You will be amazed at the simple, low-to-no cost ways you can attract buyers and set your home apart from other listings in the neighborhood.

First, do a thorough cleaning of your home. Don't just vaccum in the middle of the room and dust around objects. Remove stains and pet odors from carpets and clean down to the base boards and blinds. Make your tile or wood floor gleam and polish your furniture. Wipe all decorative objects.

And speaking of furniture and decorative objects, remove personal items such a family photos and personal mementos from walls and tables. Store some of your furniture to make your rooms look larger. Get rid of clutter and organize books and papers. Kitchen countertops should display minimal small appliances or other items. Less is better. Buyers want to see themselves living in the home.

Organize your furniture in groupings with focal points such as a fireplace. Paint your sroom with fresh, neutral tones and add a few splashes of color such as an afghan , plant or pillow. Put fresh linens on the beds, and put complimentary, clean and lush towels in the bathrooms. Replace the shower curtains if needed.

Finally, create a pleasant outdoor entry that invites buyers inside by keeping your lawn mowed and by trimming your landscape. Add a pot of colorful flowers near the entrance to the home.

Staging a home doesn't need to be expensive. Practical and low-cost staging can invite buyers to your door and lead them to come inside. Appropriate staging is worth the time and effort and increases your chances of a quicker sale.

Cost Versus Value of Remodeling of Your Home

2011-02-22T10:32:00.000-08:00

Some remodeling projects that offer high value for low cost do not require a major investment, according to the article "Help Clients Stretch Their Remodeling Dollars" in Realtor magazine January 2011. As home values have slumped, they pulled down the cost-to-value ratio and extended a downward trend that began in 2006. Construction costs moved down, but estimated resale value moved down more. In today's buyer's market, home sellers must get a foot up on the competition with smart choices that stage the inside and outside of their homes. It pays to know which projects offer the most resale value, not only to attract more buyers but also to get the most value per dollar spent.

At the top of the list nationally? Replace an entry door with a 20-gague steel unit, including a clear dual-pane half-glass panel, jambs, and an aluminum threshold. Replace the existing lock set with a new brass or antique brass finish lock. Assure the mold and casings complement the syle of the home and neighborhood. Inspect the door before purchase to be sure there are no dents.

Garage door replacement is another cost effective improvement if used properly. Make an impressive splash and provide the option of a workshop area for handymen by including windows that bring in natural lighting through the door. Reduce temperature extremes with a door that is insulated.

Add curb appeal with new fiber-cement siding that has been factory primed and factory painted. Attract more buyers with siding that will save them the cost of repainting every few years.

Update your kitchen by repainting the cabinets (professionally if needed) rather than replacing them at a prohibitive cost, especially if you don't plan to live in the home for a while. Do some of the work yourself if you have the skills. Shop for low-cost, updated hardware that will give your kitchen a newer look. Do not overspend on your kitchen with expensive counter tops and fancy gadgets.

Consider a deck addition. Many buyers want a deck but not one that is too small to use or too large to maintain. If you already have a deck, you might add a natural stain to wear more evenly than a colored stain.

Today's real estate climate is competitive with foreclosures, REO's, short-sales and auctions competing for buyers' dollars. Give your property the edge needed to attract maximum viewers and increase your chances of beating the competition. Use your dollars wisely when you remodel to increase your profit margin and meet your home selling goals.

Top home improvement values

2011-01-25T10:42:00.000-08:00

Homegain.com recently provided a list of top home improvement values that bring the highest returns for the investment. What is no surprise is that decluttering and cleaning are at the top of the list. Home buyers will frequently turn away quickly from a home that is dirty and cluttered. It typically costs very little to clean a home and throw away items that take up space without adding value. Let your home shine so others can see themselves living there. Get rid of the things you don't need...old newspapers, junk mail, expired magazines, catalogs, trash...on and on. After you eliminate the clutter; clean the walls, countertops, appliances, floors, lamps cabinets, etc. Make your home shine. Although it costs little, it will set your home apart, may put it on a buyer's short list and will probably show off your home's best features.

Another low-cost winning home improvement is to brighten up the place. Your home will be more inviting after you clean, and an inexpensive coat of paint in a neutral, light tone will do wonders for the ambiance of the rooms. Neutral colors will improve the flow between rooms and will likely make the rooms appear larger. You should also replace missing light bulbs and add a few lamps to change a room from dark to bright and make the room more calm and refreshing.

Stage your home. Move furniture into groupings of typical living areas such as areas for conversation, eating areas, and reading or TV groupings. Make the room appear more spacious by not crowding too much furniture in one polace. Eliminate items that collect dust but don't fit the theme of your room. Wilted and dying plants as well as out-of-date flower arrangements or too many pictures on the walls make a room too busy and less inviting. Do not have an over-abundance of family photos. Buyers need to imagine themselves in your home....not be distracted by personal items.

Provide curb appeal outside the home and make your yard inviting. Give the yard a pleasant and livable appearance with neat and attractive landscaping that flows. Keep your lawn mowed. Get rid of weeds and dying shrubs. Replace them with neatly trimmed landscaping. It doesn't have to be expensive. Add some low-cost mulch to blend plants and shrubs. Bring in a few spashes of color with plants in season.

These tips can move your home higher up the list above others for potential buyers. Often buyers will cruise a neighborhood and target homes to view that have an inviting experience. But don't stop at the curb. Make sure you keep the buyer's interest when they come inside with the pleasant and uncluttered appearance of the rooms. Many homes are not selling and some are not even getting offers in today's market. With low cost, minimal planning and a little elbow grease, you can make your home stand out from the others and increase prospects of a successful sale.

Eight Important Things to Know about a Mortgage

2010-07-24T08:03:00.000-07:00

So, you are ready to buy a home and want to understand basic points about a mortgage? Here is a simplified guide on important things you need to know regarding mortgage loans. For the full description of these terms, go to my source, The Smart Borrower Center on Lending Tree's website at lendingtree.com. Look under "Tools to help you borrow better."

Compare these important factors when choosing a mortgage:
1. Principal - The amount you are borrowing to buy your home. When you shop for mortgages, lending institutions will tell you how much they are willing to lend and help you determine what you can afford.
2. Type of mortgage - Usually fixed or adjustable rate mortgages. With a fixed rate, you usually pay the same amount each month for the life of the loan. This can mean less risk but a little higher interest rate. An adjustable rate mortgage (ARM) may provide a lower rate but change with the market, which can increase your risk and payment amount. Discuss options with your lender.
3. Interest rate - Consider the annual percentage rate (APR) which takes into account the interest rate as well as the other costs in the loan. Review with the lender how your interest rate will change if you choose an ARM.
4. Monthly payment - Think about the amount you can comfortably afford to pay each month for your mortgage. The lowest interest is not always the best deal. You will want to reduce your principal with each payment so you can build equity and use that money for a down payment when you move to a new home.
5. Mortgage term - the number of years your loan will be active. Shorter-term loans carry higher monthly payments, and longer-term loans carry lower monthly payments. The term of the mortgage can be set based on what you can afford to pay each month and how soon you wish to pay off your loan.
6. Discount points - These are offered by some lenders as a way to lower the interest rate. One point equals one percent. For each point, The Smart Borrower Center estimates yoy can lower your interest rate 0.25 percent. Think about how long you plan to keep your home when deciding what makes sense about paying discount points.
7. Lock-ins - A specific interest rate and possible discount points quoted by a lender. The market can change while you are looking for a home. Locking in the interest rate may help protect you against rising interest rates.
8. Closing costs - Fees charged when closing mortgage deals. This can run up thousands of dollars on what you must bring to the table at closing. Be sure to get a good faith estimate from your lender so there are no hidden costs.

Best wishes as you shop around for a good lender, good interest rates, and the best match for your individual needs. I can give you the names of reputable lenders in the Chattanooga, TN area who will help you find what you pre-quality for in a loan.

Foreclosure Alternatives - Possible Help with HAFA

2010-07-11T14:22:00.000-07:00

Are you worried about foreclosure? Having trouble keeping up with your mortgage payments? Possibly even owe more than your home is worth? Has your income gone down or your mortgage payments gone up?

Homeowners who are struggling to keep up with mortgage payments may find help through the 2009 Making Home Affordable Program (MHAP). This program is designed to help stabilize the housing market and help eligible homeowners. There are alternatives that homeowners should investigate. A word to the wise.... Beware of scams - of those who would take advantage of you, pressure you and try to make money off your difficult situation.

One alternative is the Home Affordable Modification Program (HAMP), designed to make mortgage payments more affordable for eligible homeowners. This program can help homeowners avoid foreclosure and the associated drop in their credit scores. Read more at www.makinghomesaffordable.gov.

Another alternative is the Home Affordable Foreclosure Alternatives program (HAFA) which is designed to streamline short sales and provide a uniform process and standard forms. It also provides incentives to families and to their mortgage servicers. Eligible homeowners who sell their homes under HAFA can qualify for $3,000 to help cover moving costs to another home.

You may ask, "What is a short sale?" A short sale is an alternative for homeowners who cannot qualify to stay in their homes through loan modification. The servicer (represents the lender) allows the homeowner to list and sell their mortgaged property even when the net proceeds are less than the total amount due on the loan. With plummeting home values in many locations, this can be a time-consuming but more palatable alternative than foreclosure.

Please note, this is not hassle-free. However, if approved and successful in the short sale, a homeowner can get out of a difficult mortgage and maintain a more desirable credit profile than with foreclosure. Be warned that your credit score will still take a significant hit with a short sale. There are a lot of hoops to jump through, but the potential for a $3,000 incentive and less severe credit score repercusions can make the effort worthwhile. Homeowners who go through a short sale can become homeowners again perhaps in two years as opposed to the three or more after a foreclosure.

States may differ, and types of mortgages affect the approval process. Carefully consider your alternatives. You may have equity in your home and just need a break with a lower payment through a loan modification program. Or you may be struggling so much that you have missed payments and face foreclosure unless you can work with your lender. Alternatives to foreclosure are not easy. There are requirements that must be met, but you might be able to avoid foreclosure.

You will find a number of resources and links at financialstability.gov. Consult a tax professional and/or attorney for the particulars regarding your own situation. Deliberate youro alternatives carefully, and do not be drawn into scams.

Outdoor Kitchens - Hot New Trend in Homes

2010-07-08T17:17:00.000-07:00

Outdoor kitchens....you've seen them on HGTV. They are hot, and people who like to entertain often want this option; but the question remains, "What should you look for in an outdoor kitchen?"

The outdoor kitchen is attractive now, but what will it look like in 2 years? In 5 years? In 10 years? Are the products durable and weatherproof?

You find seating for lots of guests, but is the ventilation adequate and designed to keep smoke and odors away from guests? The space will not be pleasant if the design is not optimal. Who wants to sit outside and cough from smoke blowing back in their face or smell cooking odors rather than the great outdoors?

Assure the designer and installer will stand by their work. Check with resources and find a reputable contractor/designer/installer.

An outdoor kitchen can be an enjoyable bonus for your family. Whether you are planning to add one to your home or considering a home with this feature, select carefully; and don't make your decision based on looks or cost alone.

Adapted from "Daily Real Estate News," July 2, 2010

Importance of Home Loan Preapproval

2010-06-20T07:19:00.000-07:00

Buyers who want to set realistic expectations for a home purchase should consider obtaining a loan pre-approval letter from a lending institution prior to shopping for a home.

Buyers often have a wish list for the size, style, neighborhood and cost of a new home. They may begin searching for a home in glossy real estate home finders, on-line searches and just driving through neighborhoods they like. However, they would be wise to know up front the price range for which they qualify.

A trip to a lending institution which they trust is a good first step prior to shopping for a home. The buyer can complete an application (which may have a small fee) and find out the price range for which they qualify. Otherwise, they may shop outside their qualified range and waste their own and a realtor's time. They can become disappointed if they find a home that meets their wishes but for which they cannot obtain a loan.

A buyer's credit rating, income and other factors will affect the home price that a lender will approve. Once they obtain a price for which they are approved, they can begin their home search with realistic expectations. Some home owners want proof of a potential buyer's loan pre-approval prior to considering an offer by that buyer.

For a buyer to maximize their time searching for a home and to be better prepared to make an offer and probably shorten the time to close the sale, loan pre approval is an important step toward moving into the home of their choice.

Foreclosure statistics - Who are They?

2010-05-14T14:17:00.001-07:00

Have you wondered why so many homeowners become foreclosure statistics? If you think it was primarily because consumers were outwitted by lenders, you might want to think again. Research at the University of Arkansas shows outwitting by lenders was not the main stream.

The U AK study shows that most foreclosures were in affluent and educated households with lower numbers of children in geographic areas that had experienced very rapid real estate acceleration. Research divided households into 21 life stage groups to determine which groups experienced the most foreclosures.

The group with the most foreclosures were affluent adults born between mid 60's and early 70's. This group had aggresive investors. The group that experienced the highest number of foreclosures may have the best consumer protection laws, given their education and background. More creative policy implications may be needed based on this research.

Completion of Short Sale and Foreclosure Certification

2010-04-08T02:27:00.001-07:00

I recently completed in-class and on-line instruction to receive the SFR (Short Sales and Foreclosure Resource) certification from the National Association of Realtors (NAR)

The SFR designation is helpful in today's distressed real estate market and is the only one of its kind that focuses on the buyer's and seller's side of distressed property sales.

Call on me if I can be of assistance to you. You may reach me at the Exit Upward offic at 423-847-8001 or 423-354-9294.

Foreclosures in 2009 - A Buyer's Market

2010-01-17T08:28:00.001-08:00

The Associated Press reported only a few days ago that total foreclosures in 2009 were at a 21 percent increase over 2008 and a 120 percent increase over 2007. This is according to a foreclosure sales site - Realty Trac - posted in their year-end report for 2009.

Fourth quarter foreclosures decreased 7 percent from the third quarter but were still up 18 percent compared to 2008. December 2009 foreclosures were up 14 percent over December 2008.

For those I serve as a licensed Realtor in TN and GA, Georgia was listed as one of the top 10 states in foreclosures. But I've seen personally in TN many foreclosures, some competing with homes I've listed.

Many delinquent loans continue to hang a dark cloud over the housing market. Of these, a fair number will end up as foreclosures in 2010 an as these homes work through the lenders' backlog.

What does this mean for you? Well...it can mean a lot of things.

If you are listing a home, it will be competing with distressed homes. If those homes are not in foreclosure yet, many sellers are still desperate to sell their homes and avoid foreclosure. They will price accordingly. Your home must compete with these.

You can take advantage of low-cost updates (some listed on this blog - such as painting) and you can price your home at a reasonable rate based on comparables which I will be happy to provide.

Not all news is bad. Remember that when you purchase your next home, you will be selecting from a market where others have to compete with distressed buyers and foreclosures, so you may benefit when you are on the buying end of a transaction.

If you do have a home to sell, I will be happy to help you navigate the pricing of your home and to offer suggestions on pricing that will assist you in gaining a sale. Less than 50 percent of homes on MLS are selling, so you must price the home correctly using appropriate comparables. If you have no offers in the first two-to-three months, the market may be tellling you that your home is overpriced. I will also be honest with you about ways you can make your home more attractive in the market, whether it is improving curb appeal, cleaning out clutter, providing inexpensive updates or being realistic about price.

Call me, Pat Branham, Affiliate at Exit Upward Realty in Hixson, TN. Our office is located at 6726 Hixson Pike and my office number is 423-847-8001.

Potential red flag statements from sellers - Disclosures

2010-01-17T08:11:00.000-08:00

Most states have requirements for sellers to provide disclosures to prospective buyers However, according to the Wall Street Journal, there are some sellers who may not be as forthcoming as they should in providing full information in their disclosures.

Exaggerations may be used to draw more clients to homes by using generalities such as describing a room or lot as "big." One should use caution with such general statements and ask for more exact dimensions or take their own measurements.

Disclosures - Making statements that there has never been significant damage by a disaster can be checked by the buyer. Buyers can purchase a report from Comprehensive Loss Underwriting Exchange (CLUE) that provides a report of the home's property damage, according to the Journal article.

Taxes and heating costs - Buyers can check tax records to get updated information on the tax costs of homes and property. Many electric companies are willing to provide an average cost of electricity charges to those who simply provide an address. This is true in Hamilton County and with the Electric Power Board.

The bottom line is that one should use caution and careful examination when statements are made and be aware that some information may be left out of disclosures. Be your own advocate and look with a careful eye at the information you read in today's tough market.

Call me, Pat Branham, for your buying and selling needs in the Greater Chattanooga and North Georgia area. I will work hard for you and provide honest information to the best of my ability.

Why I Chose Exit Upward Realty

2010-01-01T16:26:00.000-08:00

A friend who is a 33-year veteran of real estate and licensed in residential and commercial in several states recommended Exit Upward to me when I became a realtor almost two years ago. She is a successful person I know and trust. But even with all her great qualities, I did not take her word alone. I researched and interviewed with various agencies, weighing the pros and cons of each.

Exit has the international resources, educational offerings, personalized service, ethics, and rewards program that I value. The affiliates and broker are well-versed in real estate but operate in a down-to-earch fashion. We care about one another and want to see each other succeed. We offer high quality service to our clients. I felt at ease in the office and didn't feel thrown to the sharks like some new realtors have experienced.

The education is superb - whether offered regionally, nationally, or in our own office by our broker, Raymond Warren. The environment fosters learning. No question I ask is considered dumb.

My broker had more than 30 years in real estate. He takes an interest in each person in the agency, and I believe he can be trusted to value my needs and the needs of my clients. Each agent is treated with respect. It is a joy and a pleasure to be a part of this group of people.

Fees are reasonable and lower than other agencies I visited without sacrificing quality. Although Exit is new to Chattanooga, it is an international agency that is rapidly growing and has 50,000 agents. Exit offers the multiplicity of resources one would expect of a large organization without the high fees of many agencies.

Our local agency has an Office Administrator who is also a licensed agent. Not all agencies offer this luxury. The administrator understands the business and keeps us on track. He is available to help with creation of ads, use of various computer tools, and keeps the office running smoothly.

Exit has a residuals program that works a lot like a retirement program for agents who have recruited other agents who are successful affiliates. If you bring in an agent who is successful, you have the opportunity to increase your own earnings. I haven't heard of any similar incentive in the business.

I have been in the real estate business going on two years now. I believe more than ever that I made the right choice in choosing Exit Upward. I have the support, encouragement, expertise, and training I need.

I work with people who are courteous and knowledgeable, and I respect all of them. I would encourage new or experienced realtors who have a strong work ethic and desire to succeed to join me, Pat Branham, at Exit Upward in the Hixson-greater Chattanooga area. Feel free to email me at pbranham@upwardrealty.com and I will be happy to introduce you to my broker and the opportunities and advantages of being part of Exit Upward.

Small Homes in Vogue - Are You Considering Downsizing?

2009-12-26T07:54:00.000-08:00

Consumers have been showing concern over slipping home values and increasing unemployment. They have become more cautious in their purchases. In today's housing market, many are choosing "affordability." Consumer caution often results in the purchase of a smaller, less expensive home.

There are a number of bonuses possible in choosing a smaller home. Other things being equal, not only are payments generally lower, but housekeeping is easier; heating and air bills are smaller; taxes are lower; and repairs and updates are less expensive. (For example, painting a large room requires for effort and expense than painting a small one; replacing a small deck is less expensive than replacing a large one.) A consumer can pay off a lower mortgage quicker if they have smaller payments with a fixed, low interest rate. Lower payments can mean extra money for travel, home improvements, college expenses or other reach other goals and dreams such as earlier retirement.

The small home is attractive to more buyers today who want to minimize cost, maximize functionality, and have less upkeep to free up their time for other things they enjoy whether enjoying time with their family or reading a good book.

If you live in a larger home but want to downsize, or if you are getting ready to buy a home; consider whether a small home might be the right option for you. Interest rates are currently low. In a buyer's market, negotiation possibilities are increased. A smaller home may afford a simpler lifestyle.

Books and articles have been written on how to make the most of less square footage. Businesswoman Genevieve Ferraro lives in a 1,800 square foot home with her husband and two children and launched her business around decorating and practical tips for owners of small homes. She believes functionality doesn't have to be sacrified in a smaller home and provides the following tips:

Let the room's primary function guide your decorating.
Keep all the elements of the room in proportion. Furnishings should be small if the room is small so the space will appear enlarged.
If you have upholstered pieces, allow the legs to show to create a feeling of space and light, allowing one's eyes to view items all across the room.
Minimize tabletop accessories and limit the number of coffee and end tables.

Many small homes are within walking distance of shopping and local attractions. Even if one plans to drive to work, this can lower expenses by reducing mileage on your car and reducing fuel costs.

Are you considering the purchase of a smaller home? Do you want to manage your budget with less consumption and lower expenses?

For your home buying and selling needs in the Greater Chattanooga area, I offer quality customer service. If you have a home to sell, I provide frequent advertising, a virtual tour, offer call capture and audio tours, and purchase access to multiple websites to capture home buyer's interest. For buyers, I provide assertive searches based on your criteria and provide call backs in a timely manner.

Begin the new year in the home of your choice that meets your needs. Call me, Pat Branham at 423-304-5597; and permit me to assist you in meeting your home buying and home selling needs. Or e-mail me at pbranham@upwardrealty.com.

30-Year Mortgage Rates Hit Record Low

2009-12-05T18:32:00.000-08:00

According to Realtor.org (source USA Today), the average interest rate for a 30-year mortgage is at the lowest level since Freddie Mac began collecting its weekly survey in 1971. Rates have now declined to 4.71 percent the week of 12/4/09 from 4.78 percent the week prior. Fifteen year loan rates also fell from 4.29 percent to 4.27 percent, but homeowners should remember they face higher credit standards from lenders now.

During Thanksgiving week, the Mortgage Bankers Association's index of application demands rose 2.1 percent on a seasonally adjusted basis, which indicates consumers are considering taking advantage of mortgage rates at an historic low.

If you are considering buying a home, the buyer's market continues with many homes competitively priced. Around one-third of homes now selling are priced below what the owner paid. Interest rates are comparatively low for qualifying buyers. Take advantage of the extended tax credit and either buy your first home or move up to a nicer home at a competitive rate.

Call me if I can assist you with buying or selling a home. I am licensed in GA and TN and will assertively represent your interests in the desirable Greater Chattanooga real estate market

Less expensive ways to update your home for today's market

2009-11-14T07:24:00.000-08:00

As you well know, we have a buyer's market today. We no longer live in a climate of home values going up. They are actually going down in many cases. Of the homes sold on Greater Chattanooga and North Georgia MLS recently, roughly one-third are distressed sales such as foreclosures, short sales, and desperate sellers willing to price below what they paid for their homes. This results in other sellers in the same area having to lower their prices if they want to be competitive. Affordability is a key to homes selling today. Buyers are looking for bargains, and bargains abound; so you want your home to stand out from the crowd if you are ready to sell. You may make up whatever you lose when you purchase another home, especially if you buy a more upscale home. As you know, pricing is the single most important factor in selling a home, but you improve your chances of a successful sale if you have updated your home.

Make your home competitive with others in similar character and price range. You may not have a lot of money, but you can make the most of what you have by updating through less expensive means.

I found some suggestions from Barbara Ballinger on-line that are considered affordable redos to improve the sale-ability of your home.

1. Make rooms gender neutral. Neutral palettes and limited frills can make a home more universally appealing to both sexes. Of course that means you don't want sports memorabilia everywhere either.

2. Paint in neurtral and healthy colors. Painting is considered the cheapest and easiest way to change a room. Use the right color and finish to make the room feel bigger or cozier. Nature and spa-inspired colors may be the smartest option when trying to sell a home.

3. Dated paneling can be camoflaged so it does not look dark and outdated. You can prime with two coats and then paint with white for a cottage look.

4. The kitchen is an important room in any home. Dark cabinets can be repainted white or off-white, and new-style hardware can be added. A kitchen can be painted the same color as adjoining areas to enhance the space. Ceilings can be painted lighter.

5. Neutralize the bathroom. Choose a large mirror from the backsplash to the ceiling or a large framed mirror. Update hardware.

6. Let the light in! Use treatments that play up the window style, let in light, and provide for views outside. If you don't like curtains, consider simple shades. Inexpensive lamps with a museum touch can provide additional lighting. A skylight or larger window, if affordable, will bring in the light.

7. Provide curb appeal for the outside of the home. Make your home stand out among adjoining homes so you will invite buyers in. The front door should be easily approachable with a wide walk. Attractive, professional pruning and color will add to curb appeal. Use of pottery can provide an affordable and improvement.

These are some of the ways you can make your home more buyer friendly and competitive without spending a boat load of money. And, by the way, feel free to contact me, Pat Branham, to help you market your home or help you look for the next one!

President Signs Extended Tax Credit Into Law

2009-11-11T03:28:00.000-08:00

According to Realtor Daily Magazine News, the new and expanded $8,000 home buyer tax credit extension is expected to generate $22 billion to the economy. The credit was extended to April 30, 2010. The expanded bill includes $6,500 tax credit to current home owners who have lived in their homes five of the past eight years

Income limits were increased to $125,000 for single buyers and $225,000 for couples, up from previous limits. Home prices that qualify are capped at $800,000. Sen. Johnny Isakson of Georgia, a former member of the National Association of Realtors (NAR), was considered key in pushing through the initial legislation. The legislation was also boosted by the National Association of Mortgage Bankers Association. NAR estimates 2 million people will take advantage to the tax credit in this year.

Sources for Realtor Daily included The Associated Press and NAR.

Tax Credit - Take Action if the time is right for you

2009-10-20T19:31:00.000-07:00

Realtor.org, an on-line website, reports that Congress is debating extending and expanding the $8,000 first-time homebuyer tax credit which currently expires Nov. 30. By the end of November, according to Realtor.org, more than 118 million home buyers will have used the credit, many who would not have bought a home without it.

The Chief Economist for MoodysEconomy.com, Mark Aandi, is in favor of extending the tax credit. As he stated so well, "Nothing works in the economy if housing is falling....the tax credit is vital to stem housing price declines. Extending the tax credit and expanding it to additional home buyers could be accomplished through using unspent stimulus money to offer more home buying opportunities to additional customers.

Realtor.org took this information from CNNMoney.com. by Les Christie (10/14/2009).

Permmit me to assist you if you wish to take advantage of this tax credit. Time is running out. Be sure to get prequalified with a lender so you can find a home and close your deal before the tax credit runs out. If it is extended, I will be glad to have you as a customer and search for an ideal match for you.

First Time Homebuyers Tax Credit

2009-10-13T20:30:00.000-07:00

For people who recently purchased a home or are considering a home purchase that can close by November 30, the $8,000 tax credit for first-time homebuyers can be an attractive motivator. Unless extended by Congress, however; one needs to move quickly to qualify, find the right home, and meet requirements for the credit. Be sure you are prequalified with a good lender and ready to select a home that can close prior by 11/30.

According to IRS Commissioner Doug Stulman, "For people who recently purchased a home or are considering buying...[soon], there are several different ways that they can get this tax credit...."

The IRS reports that under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before December 1 receive up to $8,000 or $4,000 for married people filing separately.
My broker's blog provides additional information and links: http://raymondwarren.blogspot.com/2009/10/last-chance-45-days-to-close.html.

According to the IRS, the amount of the credit beginsn to phase out for taxpayers whose modified adjusted gross income is more than $75,000 or $150,000 for joing filers. Taxpayers can claim 10 percent of the purchase price under the terms of the Recovery Act. Go to www.Recovery.gov for additional information.

Please permit me to assist you in finding your first home or in other real estate needs. I am now licensed in TN and GA.

Selling Your Home in Today's Market

2009-09-06T17:50:00.001-07:00

Have you had your home on the market for some time, but it hasn't sold? Are you thinking that you do not want to spend more money fixing up or staging your home and hoping a buyer will make an offer that permits an upgrade?

The market is not what it was years ago when homes were selling hand over fist. Even in an area like Chattanooga-Hamilton County, TN, where the market has remained relatively flat compared with other parts of the U.S., buyers are still contending with a buyer's market. At the time I write this article, I understand that less than half the homes on MLS are selling. For Sale By Owners (FSBOs) are doing much worse since they don't have the exposure to the many agents on MLS and to the on-line resources of MLS. Buyers expect an FSBO to be priced lower than a home listed with a realtor because they know a broker's fee is not involved. So an FSBO has less exposure to the market, and buyers are expecting a lower price when they do view it.

Proper staging and pricing are very important in today's buyer's market. I was recently told that of the homes that do sell, about 1/3 sell at a lower price than the owner paid. If you are selling a home, you are competing against foreclosures, short sales, and people in a distressed market. Some sellers have lost their jobs or come across other misfortunes and must sell their homes, so many are willing to take losses to sell their homes. Many people are buying smaller homes so they will have lower house payments than buyers were willing to incur in the past. People are saving more, paying off debt, and investing less.

If your home has been sitting for two months or more, it may be time to consider several things that the market could be telling you. When you are not getting offers, the market is telling you that buyers are not willing to pay or even offer near the listing price of your home. A good realtor can spend hundreds in advertising and time in open houses and showing your home; but if it is not priced and staged properly, it will likely not sell. Buyers may think your home is not in move-in condition. You are competing against updated homes with new granite counter tops, wood floors, neutral walls and other features. Some new homes are selling for a song and dance, figuratively speaking. Do you have old paneling that you could at least primer and paint a lighter color?

Buyers are getting older and may not be willing to climb stairs. They may also want fewer square footage to care for and be unwilling pay for the maintenance costs and time that a larger home requires to maintain.

Your home may not have the "WOW" factor that a buyer wants to see in the first few seconds of viewing a home. Are there cobwebs in the corners? Are screens torn? Is the wood on the deck getting old? Are there dirty place on walls, old railing on stairs, or other dating problems with the home? Are your carpets stained? Are your appliances outdated? If you are unwilling to change and update, it may be time to consider a serious price reduction - if you need to sell your home.

If you can afford it, you might consider taking down your wallpaper and painting your walls a neutral color throughout or getting a professional to do so for you. You might consider replacing dated light fixtures in a few of the rooms. Perhaps you can't afford wood floors, but you might be able to afford a wood foyer.

Do you have piles of bills or other items inside or outside your home that distract from the features of the home and make the rooms look smaller? Consider getting a storage bin if nothing else and clearing the rooms of clutter to show off the beauty and size.

You don't have to spend a lot of money to update if you are willing to put in some sweat equity or pay a professional for a few basic changes. However, if you are unwilling to update your home, it may be time to consider lowering your price so you will remain competitive in today's buyer's market.

Whatever your decision, I will be honest with you if you seek my services. I will assertively market your home if we agree to list it. I will spend my money and resources to market your home. I only ask that you cooperate with me to list it at the best price for you to remain competitive. Happy selling and happy buying to you!

Easy Home Repairs - Three quick tips to spruce up your home

2009-08-22T17:04:00.000-07:00

Several home repair suggestions were featured in a recent issue of Chattanooga's Blush Magazine. These are easy handywoman fixes for common problems. Even I can follow the simple instructions to these fixes.

1. Fix a leaky faucet
Turn off the water to the faucet and plug the drain with a stopper or rag. Take the faucet handles off and remove the old washer behind the handles, replacing them with new washers. Replace the handles and screw back on until they feel tight but don't use extra force. Turn the water on to see whether the faucet works properly. If not, you may need professional plumbing assistance. This tip was placed in Blush from wikihow.com.

2. Open a stuck window
Blush quotes hometips.com. Their solution is to wedge a putty knife between the window's sash and frame from the inside. Tap with a hammer to loosen the opening. From the outside of the window, wedge a pry bar between the sill and sash, and apply upward pressure. Work from each corner back and forth until the sash moves up evenly. Once the window is open, chisel built-up paint or residue off the sash edge. Sand the edges smooth if appropriate and apply wax to prevent further sticking of the window.

3. Re-grout tile
Another tip the local Blush Magazine is from move.com. To replace dark or mildewy grout in your tiles, get rid of the old grout first by razoring it with a utility knife or other grout instrument. Use a color for your grout that matches your tile and ask a supercenter attendant if you should use sanded or unsanded grout (you might take a sample). Mix the grout according to instructions, and use a squeegee to apply. Using a damp sponge, wipe off the excess grout. Let it dry and wipe with a clean, damp cloth.

Whether preparing your home for a sale, moving into another home that needs a few fix ups or just spucing up the home in which you want to stay; these tips can make your home more pleasant for you and/or for a potential buyer.

Home Security While You Are Away

2009-08-05T17:55:00.000-07:00

Basic steps that may improve your home's security:
> Make your home appear occupied at all times by leaving some lights on or using light timers.
> Ask a neighbor to park one of their cars in your driveway.
> Ask a friend or neighbor to collect mail and newspapers.
> Have a delivery hold placed on mail if no one can pick it up.
> Turn off WIFI and DSL connections to deter identity thieves.
> Use motion sensor floodlights placed out of reach from thieves.
> Forward home phone calls to your cell phone so you can be reached.

There is no certainty that you can prevent thieves from stealing your possessions, but you can lower the chances of break-ins by taking simple precautions like securing your doors and windows or not leaving a spare key for a burglar to find. As always, use good judgment, and weigh the pros and cons in the decisions you make.

Your home is a valuable possession. Enjoy your vacation or allay your fears while away through precautions that lower the chances of a break-in or thieves. And when you decide to sell your home or buy a new home, give me a call. I will be happy to assist you as you buy or sell your home in the Greater Chattanooga-Hamilton County, TN area. Call Pat Branham, Affilliate Broker, Exit Upward Realty at 423-304-5597.

Has your home been on the market too long?

2009-01-09T18:27:00.001-08:00

Are you one of those homeowners who has been waiting for 6 months or even a year to be matched with a buyer? You've priced your home competitively, but the magic still doesn't happen.

Consider the importance of first impressions and take the time to prepare your home for a favorable showing.

Try these steps, and see if they make a difference in homebuyer interest:
1. Get rid of that clutter. If you must keep all those knicknacks, pictures, and fake flower arrangements; consider getting a storage unit, and get that clutter out of sight. Move excessive furniture out that is making your home look crowded. Permit buyers to get around and really see your home's features.
2. Think about curb appeal. Is your yard mowed, and are your shrubs trimmed? Is there trash or toys around your home? Clean it up, and give your yard a fresh appearance.
3. Clean house. Make sure the spots are off the carpet, vinyl and tile. Clean countertops, and scrub toilets and tubs. Make your home sparkle!
4. Repair obvious items and some that aren't so obvious. Some buyers climb in the crawl space and attic. Some repairs are simple and quick. Get help from a handyman if you need it, but get your home ready for move-in condition.
5. Assure lighting shows off your home's features. Do you need to paint in neutral colors and take down heavy drapes? The buyers need to envision themselves in your home.

Ask your realtor and friends that have successfully sold their homes for honest criticism. They just might have the hints that will make a difference and move your home off the market and into the right buyer's hands!

Tidy Your Home Quickly for a Better Showing!

2009-01-03T07:04:00.000-08:00

Realtor.Org recently posted tips from the Chicago Tribune on how to tidy a home quickly. If you have potential buyers arriving within the hour, bring improved order to a messy home for a better showing to potential buyers. This is according to Julie Edelman, author of "The Accidential Housewife..."

How do you accomplish this within an hour? Try these tips:

1. Target the bathroom. Clean the sink, toilet, mirror and floor with disinfectant wipes. Empty the trash. Use toilet bowl cleaner or drop a denture cleanser into the toilet and let it fizz for 20 minutes - then flush.
2. Salvage the kitchen. Clear off the countertops. Put your dirty dishes in the dishwasher. Spray a clean smelling multipurpose spray on the counter tops and wipe down.
3. Pick up Debris. Get rid of clutter in the living room, and put it in a bag you can hide in the bedroom closet . Sort it out later.
4. Vacuum everywhere.

Oye! Now you have some order in your home, and a clean smelling one at that!

No need to panic if potential home buyers are on there way within the hour. Utilize these tips to show your home in a better light and provide an improved opportunitiy for a sale!

Home Staging for a Quicker Sale and Better Price

2008-11-17T19:37:00.000-08:00

Unlike its reputation for being costly, home staging has simple principles, according to the on line site, RIS Media.

The sentimental attraction that owners have to items in their home will often cause them to be reluctant to eliminate items that clutter the appearance of rooms. Staging is about clearing the room and showing floor space. Moving furniture off the wall and leaving some space for pictures (not family photos) is a big part of staging.

Minimizing the amount of furniture is an important part of staging. That means not adding a convenience table next to a chair just so you can put a glass of water there. It means showing off the space.

Staging includes decorating dining tables as if you are preparing for a meal or party. Game tables should show games in action.

Keep TVs off and music soft or jazzy - not strong like rock music. Fresh flowers rather than fake flowers are the rule, and white towels are more effective than colored.

Professional stagers often can use the furniture you already have, but you don't have to use a professional. The goal of staging is to make your home appeal to the broadest range of buyers. This means the buyer should be focused more on the house and its elements that have attracted the buyer.

Furniture placement on a budget

2008-11-13T18:49:00.000-08:00

So, you have a new home, but how do you fill up the spaces with your furniture? About.com has some advice on budget decorating and basics of furniture placement.

Make the most of furniture placement of what you have available if you are decorating on a budget. Remember to assure you have room to open doors fully, that you have pathways to other rooms, that the furniture is placed in a way that you get the "feel" you want (i.e. cozy, formal), and that there is flexibility in seating if you want to use the room for entertaining or other special needs.

Some furniture placement guidelines to consider:
1. Designers typically allow 48-100 inches between the sofa and side chairs, but adjust to meet the room size and your family's needs.
2. Normal placement of a coffee table in front of a sofa is 14-18 inches, but adjust for comfort.
3. Allow three feet for traffic spaces, but lots of children or large family members may require more than three feet.
4. An average adult needs 20 inches of depth for a dining room chair plus 16 inches to scoot back the chair from the table but, again, adjust for comfort. To serve guests, you may want to allow 46 inches between the wall and dining table.
5. To get out of bed comfortably, allow at least 24 inches between the bed and the wall and you may want to allow 36 inches between the end of the bed and the bedroom or bathroom door.

Guidelines should be adjusted for your family and are approximate. Allow for your lifestyle too, such as entertaining needs.

To enjoy your home more fully, think carefully about furniture placement!

Economic Stabilization Act - What it Means for Consumers

2008-10-04T17:11:00.000-07:00

On October 3, 2008 the Emergency Economic Stabilization Act of 2008 was signed into law by President Bush after passage by the House and the Senate.

According to Richard Gaylord, President of the National Association of Realtors® (NAR), the bill may not be perfect; but many Realtors® believe several additions make the bill more favorable than the previous version. Raising the FDIC insurance limit and other measures are considered advantageous to protect taxpayers. Consumers may have faced dire consequenses, according to Gaylord, without passage of the bill.

The NAR, of which I am a member, will continue to work with Congress and the Administration to assure measures included in the bill are implemented quickly so the needs of Main Street - your needs - will be placed right up front.

Home Trends in Chattanoog, TN

2008-09-27T19:45:00.001-07:00

Chattanooga has not been as negatively impacted by the housing crisis as some communities. A visit to on-line trulia real estate search provides a wealth of information on trends of home listing prices and median sales prices in Chattanooga, TN.

Current information is available and reveals the following: The average listing price of a home in Chattanooga as of 9/17 was $269,337. The median sales prices of a home was $109,975. There were 1,381 homes for sale, and 1,511 that were sold as of this date. From June 08 through August 08, the average sales price of a home went down -.04%. Volkswagen is brining in more employees each week, and they will all need homes.

Buyers are available to look at sellers' homes, and sellers continue to be mobile and need to sell their homes.

Call me today for assistance. I promise to represent your personal needs in an assertice manner.

Ten Ways to Make Your Home More Safe

2008-09-27T18:49:00.000-07:00

Homeowners want their home to be a safe place but often are not sure of ways to provide greater safety for themselves, their family, and friends. A wise homeowner will look around their home with an eye to safety and protection from disaster. According to www.72hours.org, there are ten SIMPLE STEPS a homeowner can take to make his/her home more safe and secure. They are:
1) Install a working smoke detector.
2) Move beds away from windows.
3) Move mirrors and heavy objects away from where people sit.
4) Keep hallways and exits clear.
5) Store heavy items on the lowest shelves.
6) Keep a fire extinguisher readily accessible on each floor.
7) Store flammable and reactive chemical securely and separately from each other.
8) Secure pictures and wall hangings.
9) Be sure your home number is visible from the street so emergency responders can see it.
10) Ensure window safety bars have an emergency release.

Taking the time to follow these simple steps can help protect you and your loved ones and your home. Be alert to potential hazards and make your home a safer place to enjoy.

Complicated Thought Patterns of Buyers & Sellers

2008-09-20T19:59:00.000-07:00

In this time of uncertainty in the financial industry and housing markets, undertand how buyers and sellers think is important. According to Wendy Cole in the September 2008 issue of Realtor magazine, buyers and sellers can appear whimsical and irrational in some of their decision making.

How do we determine what buyers and sellers really want?

According to Cole, "the potential for misunderstanding and mistrust is enormous." Perceptions of what the other person is thinking can be off. Cole notes a professor of behavioral economics at Carnegie Mellon has stated that buyers have an attachment and feel they "own" the home once they have made an offer. This realization should help calm sellers' anxiousness about a buyer's commitment, even in times of uncertainty.

But buyers can be overconfident about whay they know according to Jason Zweig, colulmnist for The Wall Street Journal. According to Zweig, most buyers don't have an answer to the question of "When is the right time to buy?" if asked; but they may be convinced prices will drop further. People fear losing money, and that's rational. Sellers, on the other hand, may become more distressed about a fall in the value of their home than they are in a drop in the value of their stock.

Warning buyers and sellers about what to expect (i.e., a wall of paperwork at closing) can be a smart move to keep perceptions on track. Rather than being frightened off, consumers appreciate honesty in sales people. And that's why this Realtor is determined to keep communication open and honest with her customers and clients. You can bet on it!

The Positivies of a Split-Level Home

2008-09-01T19:37:00.000-07:00

Split level homes initially became popular as a new style that some thought were modeled after Frank Lloyd Wright's designs. Split floor plans have a spacious feel, yet make the most of square footage. They often provide greater affordability per square foot while offering a compact feel. The open floor plan often appeals to younger buyers and can provide the space needed for a growing family. Many split levels take full advantage of light on both levels. They offer a short flight of stairs to enter via the front door to the main level which often has more than onen bedroom and bath on a main level. They can provide an open floor plan with a warm impression on entry.

Check out the split level style when looking for a home with good square footage and a family-friendly style. It may be just the style you need and want!

I invite you to let me show you the lovely split-level I have to offer in an established neighborhood with mature shrubs and a clear brook near the new VW plant and Hamilton Place.

Housing Recovery on the Way with Housing Stimulus Bill

2008-08-23T08:14:00.000-07:00

According to Lawrence Yun, Chief Economist at NAR Research, a housing recovery is on the way. The recently passed housing stimulus bills should help stabilize the housing market. The American dream of home ownership is more attainable to first time home buyers. More families may be able to refinance into safer and more affordable mortgages, avoiding the devastation of home foreclosure.

One exciting provision of the recently enacted law is the home buyer tax credit. Up to $7,500 will be available to first-time home purchasers as they file their income tax returns. The amount is phased based on income level and is to be no more than ten percent of the purchase price. Yun stated the amount is equivalent to cash on tax returns. The credit will not be available after July 2, 2009. One should take advantage of the tax credit opportunity during this window of opportunity. Although the bill is still being analyzed by NAR, this is technically not a full credit. There are some payback provisions. However, money loses value over time, so this can still be a big boon. Historically, money is worth more now than it will be in the future. One could, for example, pay off a high interest credit card. With greater home buying and selling activity, credit markets should strengthen and mortgage capital flow more freely. Yun estimates nearly 3 million home buyers will take advantage of this tax credit opportunity before the bill expires in 2009. Will you be one of them?

Speaking of Moving - 5 Tips in Preparation for Your Move

2008-08-16T10:29:00.000-07:00

According to an article in RISMedia taken from "Home Buying 101," a move and finding a moving company can be made smoother by the following:

1. To obtain a guaranteed or binding quote, have a visual survey of your household goods by a reputable mover. A quote over the phone is not binding, and you don't want the mover to show up asking for additional money.

2. Allow plenty of time for a visual survey, to get a binding and written quote, and to reserve a truck to meet your necessary lead time. If you obtain a quote before your home sells, you will be prepared for the move when your home sells.

3. Accurately represent everything you want to move, including items in the basement and in the attic or any off-site storage. If items are added at the time of moving, the former estimate will no longer be binding. If in doubt, you can always add the items to the original estimate and then take them out.

4. Reputable movers do not ask for a deposit up front. Reputable movers expect payment on delivery. Asking for money up front can be a red flag.

5. Assure that your mover has a good reputation. Relying on price above reputation might leave you disappointed. Moving day may arrive with surprises such as an overflow that has to be transported in another truck and items that might not arrive at the same time. Look for a competitive bid from a professional mover who is certified and reputable. Price is important, but reputation is important too.

Happy Moving!

Pat

Chattanooga - Top Location to Live

2008-08-13T19:18:00.000-07:00

According to a 2008 survey, Chattanoog is the third top city to live in the U.S. Check out the following site for details: http://www.relocateamerica.com/tennessee/cities/chattanooga.

Chattanooga thrives compared with many other cities. Tourists and local families enjoy the TN Riverfront development with our Riverwalk that runs from downtown to Chickamauga Dam. We have the Chattanooga Symphony and Opera, several dance and ballet companies, and other art forms. There are numerous festivals and events for old and young, families and singles. The Tennessee Aquarium continues to expand. Volkswagen just announced a new plant will locate in Chattanooga in Enterprise South, just 3.5 miles from a listing I enjoy in a quiet neighborhood near Hamilton Place and major connectors. There are a number of fine magnet and other public schools as well as many private schools in our area. Several universities and junior colleges are nearby. Historial places and parks abound. This is a family-friendly city in a setting that boasts mountains and lakes with beautiful scenery during all four seasons.

Come join us!

Getting Started

2008-08-10T10:46:00.000-07:00

Buying or selling a home can be one of the most gratifying and important decisions you make in life. For many people, this is their highest priced investment and where they hold most of their assets. It is their "nest," where they and their friends and family laugh and love. It is a place where they can personalize their lives - how much privacy they want, whether they want to be in a rural community or in the city, whether they wish to be in a townhome with a small yard and close neighbors or in a subdivision with larger square footage and room for their children to play.

Since this is an important decision, using a Realtor® will provide a client with the highest level of services, access to MLS for refined searches, and tools to help you sell or buy your home.

There are many components to the successful buying or selling of a home, and people skills and willingness to work hard are important parts of picking the right agent for you. Your time is valuable, and you want it utilized in a way that brings you success whether you are buying or selling.

I have been in the people business for more than 30 years, whether in my jobs as a human resource officer, RN, manager at an insurance company, in community volunteer work, and currently as a Realtor®. I will reach out to you meet your goals whether you wish to buy a home or list a home.

You can find my contact information at: http://www.upwardrealty.com/staff_directory.html.

You will find my website at www.patbranham.com. I hope to hear from you soon.

Pat