Grand Recommendations

Happy homebuyersBy Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

 

 

Market News

 Low housing inventory equals buyers concessions and strategies

 

Home inventory fell from a 9.4 months’ supply in 2010 to a 4.9 months’ supply in August 2013. (Source, National Association of Realtors)

With home inventory at a low for 2013, sellers are receiving multiple offers from buyers.  Who would have thought 3 or 4 years ago that we would see these statistics from the National Association of Realtors.  But according to NAR, here’s what buyers are willing to do to get the home of their dreams:

Offer to pay the seller’s closing costs -25%

Bid  1-5 percent over asking price – 25%

Write a letter to the seller – 17%

Borrow enough money from family and friends to get a 20% downpayment – 12%

Bid 6% – 10% over asking price – 9%

Remove all contingencies-8%

Borrow enough money from family and friends to make an all-cash offer -5%

Bid more than 10% over home’s asking price -4%

Prices are gradually rising along with interest rates.  Buyers are seeing the urgency to buy now, especially since stricter loan regulations are about to come into play.

 

 

 

 

 

 

Building your dream home (A success or disaster)

By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

My husband and I decided to try our chances at building our “dream” home in 1995.  Even though I was in real estate, I really didn’t have a clue as to the nuts and bolts that new construction entailed.  So we decided to take a home construction class at our nearby community college.  There was so much to grasp, we took it twice.

The first step was to hire an architect to put our ideas on paper, professionally.  We realized early on that making phone calls and getting estimates, (on everything!) saves tons of money in the end.   Finding a good framer is one of the most important decisions in the whole process.  Don’t be afraid to get references right up front….and call them.  Do your research, it will make life so much better down the road.  Second big tip:  Treat your contractors as if they were kings, and they will reward you in small ways in return.  In the winter we bought them new work gloves and brought them hot coffee and donuts.  In the spring we offered sandwiches and ice tea.  It’s amazing how many extras they did for us at no cost.

Another good tip: Get a survey of your lot with the proposed blueprint in place.  You’d be horrified to hear the stories where a new house was built partly on the neighbor’s lot.  It’s a mistake that could have been avoided so easily with a survey.

Be prepared to have to work with contractors’ schedules.  We found out quickly that we weren’t their only project, nor their number one project.  If one contractor didn’t show up, that affected several other contractors’ time table too.  Keep names and numbers handy and be prepared to call them in advance to make sure you are still on their schedule for the day.  Have an estimated time frame and stick to it the best you can.

Ask for copies of liability insurance on each subcontractor.  Your homeowner’s insurance will expect to see that if there are any accidents or mishaps.  Don’t take their word for it.  Be diligent and get copies.

If you’re on a tight budget, know which extras you can save till later.  Perhaps wire for ceiling fans and wait until later to install.  Items which cannot wait would be, brick vs. vinyl, quality cabinets, and higher quality windows.

So here’s what I remember for categories and time frame for work:7

1.  Architect draws plans

2. Survey with blue print and lot boundary lines

3.  Land cleared and leveled5409 Creft front dooor

4.  Footers poured. (Our teacher taught us to always use rebar for reinforcement)

5.  Foundation laid

6. Framers begin their work, including roofing

7. Plumbing and electrical wiring laid

Creft - upper balcony

8. Heat and air plumed

9. Insulation laid

10.  Dry wall hung

11.  Continue with plumbing, electrical, and heating & cooling

12.  Trim work completed, interior

12.  Exterior siding completed

13.  Boxing of eaves, etc.

14.  Interior painting

15.  Plumbing fixtures

16.  Appliances

Then celebrate with a party and include all your subcontractors.  They will love seeing their part in the finished product.

Our home was so successful that our city newspaper, The Charlotte Observer, did a feature story on us.  The reporter mentioned that building can be quite stressful but was relieved we had a happy ending. Attached is a photo of our family and all our subs.

 

 

 

 

 

 

beachfront home

 

By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

Considering buying a vacation home?  Check out the 2013 trends; you will be surprised at what buyers are doing these days.  Vacation homes are great investments and they don’t have to cost a fortune.  The ideal vacation home is a place for the family to create memories and get away from it all. This type of investment is a good discussion to have with your accountant. He can advise you financially and see if it’s a right fit for you. View details: http://grandviewrealtytn.com/vacation-homes-latest-trends.

Vacation Homes – latest trends

Beach house By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

 

According to the National Association of Realtors’ 2013 Investment and Vacation Home Buyers Survey, here’s how the current trends look.

1.  The median vacation-home price in 2012 was $150,000 compared with $121,300 in 2011.

2.  Nearly half of vacation-home buyers paid cash for their properties in 2012.

3.  The typical vacation-home buyer in 2012 was 47 years old and had a median household income of $92,100.

4.  80% of vacation home buyers said they purchased their property for vacations or as a family retreat.

5.  45% of vacation homes purchased were in the south.

6.  The typical vacation home buyer last year purchased a property a median distance of 435 miles from their primary residence.

Vacation home beach resortVacation homes are becoming more popular with buyers who are tired of the hotel scene and rising prices, yet want a “home away from home”.  They appreciate getting away from jobs and the monotony of everyday life back at home. Many decide to convert later to an income producting investment by renting out through vacation home websites. Always discuss with your accountant to work with your particular financial goals.  And be cautious that vacation rentals are sometimes required to pay sales tax or a lodging tax just like hotels.  In the long run, vacation homes can make lasting memories and can be passed down through generations.

 

River - for Lower Towee

Retreat into the Cherokee National Forest in this custom-built log home.  Nestled in the Cherokee National Forest, close to rafting and kayaking on the Hiwassee River.  This is a well-known trout fishing river and enjoyed by all ages.  Custom cabinetry, hardwood floors, T&G paneling, stone fireplace, and a covered balcony overlooking 5 acres of forest. you’ll fall in love with this exquisite home the moment you step in the door.  $259,900.

MLS # 20132805 – 247 Upper Towee Rd. Reliance, TN.

Call for a showing appointment today.

By Carol Kamm- Grandview Realty – 423-790-4547, (O) 423-338-8171

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

100_4115

Ever wonder why we can enjoy such beautiful colors in Autumn?  Leaves change colors because the green chlorophyll disappears from the leaves when cooler temperatures arrive.  These cooler temperatures and bright sunshine turn the plant’s glucose into a beautiful reddish color.  Thanks to Mother Nature, we have a burst of energy in our surroundings.

Fall is also the best time of year to fertilize, aerate, and seed lawns for lush spring colors.  Yes, enjoy the view but don’t put away the garden tools just yet.

Cleveland, Tennessee Apple Festival

apple

 

By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

 

Do you love apples too?  Come to the Cleveland Apple Festival, a family event in Cleveland, Tennessee.

Throughout the day there will be a craft show, live music, food booths, pony and hay rides, and many other children’s activities.

All proceeds go directly to benefit non-profit organizations in the Cleveland, Tennessee area.

Tickets are $4.00 for adults and $3.00 for children up to 12 years.

By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

traffic
Now days most everyone has to commute to get to their jobs, we almost expect it.  But while driving times vary, most take at least 40 minutes of their day behind the steering wheel. Corridor K will certainly help for those traveling to and from Polk County.  Some interesting information from The Southeast Tennessee Development District:
Three-fourths of all workers in the region drive alone to work.
Less than 10% of workers carpool, a figure that includes roommates and spouses who drive together
Only about 1/2 of 1% of workers use public transportation to get to work
About 2.9 % of people in the region work from home.
Would you be willing to ride a bike if the roads were better equipped?  Would you use public transportation if it was available?  What would you change about your means of transportation if yu had the chance?  Something to think about.

By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

Mark your calendars, September 14th for the annual, Cowpea Festival in Charleston, TN.  This year’s photo contest will portray a regional rural theme depicting farm work, crops, old barns, farm equipment, buildings and machinery.  Sponsored by Homestead Lawn and Tractor Company, everyone will enjoy the Agri-Heritage Theme and good old fashion fun.

The importance of space and function

Blueprintsliving room

By Carol Kamm at Grandview Realty

Real Estate Services in Bradley, Polk, Hamilton, McMinn and Monroe Counties.

According to the National Home Builders’ Association, buyers want the most for their buck in terms of home function.  Today’s home accommodates multi-generations in the same household.  Dual master bedrooms are common as well as larger master bedrooms with living areas.  Rooms need to serve several functions at one time, including a kitchen area with desk and storage nooks. Islands are getting bigger and higher end countertops and design is expected.  Not only are open floor plans common but also outdoor living areas are becoming a priority with fireplaces or fire pits and plenty of seating areas.  So it’s no longer how big a house may be, it’s how well it functions for the needs of the residents.

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