865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Have the Smartest Home on the Block?

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From security systems to thermostats, light bulbs to sprinklers, your home can easily become smarter with internet-enabled devices.

It’s going to be March before we know it! I hope 2017 is off to a great start for you.

I’m always looking for ways to help my clients improve the value of their homes. One of the things I’m seeing more often is people adding more smart technology to their homes – things like internet-connected cameras, appliances, lights, and even locks.

READ: Best Smart Home Devices of 2017

Is this something you’re doing in your home? Reply and let me know! I’m always looking for great ideas to share and I’d love to hear from you.

If I can be a resource to you in any way, please call or text any time. Here’s my number: 865-999-0925.

And, as always, if you know someone who’s thinking about buying or selling, I’d love to help them out. Share my phone number or my email address: troy@gablesandgates.com

Selling A Home During The Holidays..Naughty or Nice?

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Selling a home during the holidays. Is is naughty or nice? Just about this time every  year, scores of homeowners decide to wait until after the holidays to put their home on the market. Other homeowners, who currently have their homes on the market, decide to take them off the market until after the holidays. Here are six great reasons why that’s not a good idea:

  1. Relocation buyers! They are still out there and their companies are not concerned that it is holiday time. Plus if the buyers have kids, they’ll want them in school after the holidays.
  2. Home buyers that are looking for a home during the holidays are serious buyers and are ready to buy.
  3. You can restrict the showings on your home to the times you want it shown, so you remain in control of your schedule.
  4. Homes show better when decorated for the holidays.
  5. There is less competition for you as a seller during the holidays. Let’s take a look at listing inventory as compared to the same time last year: Inventory-KCM
  6. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will make a comeback in 2016. This will lessen the demand for your house.

What does this mean for you?

Waiting until after the holidays to sell your home probably doesn’t make sense.

Have questions or want to find out what your home is worth in today’s market? Call or text me, Troy Stavros with Gables & Gates, REALTORS at 865-599-9444.

What Is Equity In A Home? How Does It Help Build Wealth?

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So what is equity in a home, and how does it help build wealth?

Citing a recent survey by Merrill Lynch, over 80% of the people in the United States believe that homeownership is still “an important part of the American Dream”.

One of the biggest reasons it’s seen as so important is that it helps build family wealth. Last week, Freddie Mac posted about the power of home equity. They defined home equity as:

“In the simplest terms, equity is the difference between how much your home is worth and how much you owe on your mortgage. You build equity by paying down your mortgage over time and through your home’s appreciation. In a nutshell, your money is working for you and contributing toward your financial future.”

They then showed through a real life example, where a person bought a home for $150,000 with a down payment of 10%, leaving a loan amount of $135,000. The home buyer obtained a 30-year fixed-rate mortgage at 4.5% with a monthly mortgage payment of $684.03 (not including taxes and insurance). They then showed what would happen after just seven years of making their mortgage payment, assuming that the home appreciated 3% in value every year (the historic national average):

What is equity in a home?

And the beauty of equity is that the “Equity in Home” dollar amount continues to build as long as you own the home. Merrill Lynch also published a report previously this year showing the average equity homeowners have acquired at certain age ranges.

Home-Equity explained

What does this mean for you?

As a typical Amerian family, home equity is vitally important to building wealth. Referring to the first scenario above, Freddie Mac explained:

“Now, if you continued to rent, and made the same payment of $684.03 per month, you’d have zero equity and no means to build it.

Building equity is a critical part of homeownership and can help you create financial stability.”

 

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Troy Stavros
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865-999-0925
troy@gablesandgates.com

Fixing Your Knoxville Home: How To Fix A Hole In Drywall

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In the latest edition of my “Fixing Your Knoxville Home” video series, we look at how to fix a hole in drywall. Whether the boys were wrestling in the family room or a hammer missed the nail hanging a picture in the hallway, sooner or later you my end up having to patch a hole in your drywall.  Here is the easiest and cleanest way to go about this repair.

SEARCH Farragut Homes For Sale
SEARCH ALL Knoxville Homes
Farragut Homes HOT LIST
Homes Close to Where You Work
Mortgage & Refinance
Troy Stavros
Gables & Gates REALTORS
865-999-0925
troy@gablesandgates.com

Home Staging Advice To Make Your Home Show Better

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Staging your home prior to going on the market is vital.  That is why it is a service I provide for every one of my listings.  Our professional home stager gets your home looking “just right” for pictures, video, and potential buyers. Below is some great home staging advice that you can do yourself, from the interior designers at Houzz.

The Best Return On A Remodeling Project Is By Far The Kitchen

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Remodeling Kitchen in KnoxvilleWithout a doubt, a kitchen has the best return on a remodeling project. The kitchen is the most important space in a home today, so when you are looking to remodel, it’s super important that you get it right.  It seems that the way people live today, more time is spent in the kitchen than any other room in the house. So, it’s important that it we designed for how people want to live.

Here are some guidelines to follow when remodeling your kitchen (brought to you by NAR’s Styled Staged Sold BLOG)

  • Since functionally kitchens are multi-dimensional social environments in addition to cooking space a good kitchen today accommodates many people and tasks. “Open concept kitchen” is the hot new term since it expands the kitchen into the family room and allows for social interaction with everyone in the family room.
  • Perhaps the biggest design feature of today’s kitchen is the center island. Peninsulas of the 1980’s and 90’s are yesterday’s news. One side of the island should have plenty of casual seating while the production side of the island can feature everything from sinks to a plain countertop work area.
  • Clean, sleek modern styling is the pulse of the day. Ornate, dark wood cabinets are passé. Simple painted white wood, light maple and, for eco-minded home owners, bamboo cabinets are all the rage.
  • Spend a good portion of your budget on appliances. Gone are the days when a plain refrigerator and basic stove will suffice.  The fancier, the better — including even high-end “toys” like wine units, if the budget allows.
  • Today’s wide range of materials and price points for countertops and backsplashes make these two areas the fashion statement in the kitchen. Give yourself permission to choose something unusual, dramatic or colorful. Mix materials even. When it is time to “freshen up” your kitchen in 5-7 years – yes, you read correctly! — change these two elements and you’ll be able to create a whole new look.

They go on to say that if you are working with a tight budget, perhaps you can figure out a way to build a small kitchen island. If the current cabinet layout is OK, install new doors. Change up the look of your kitchen with a new backsplash, or new hardware.