865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Your Real Estate Agent Needs To Be More Than A Guide

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You Need More Than a Guide. You Need a Sherpa. | MyKCM

In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer.

We are, however, in anything but a “normal market” right now. The media is full of stories about an impending recession, a trade war with China, and constant political upheaval. Each of these potential situations could dramatically impact the real estate market. To successfully navigate the landscape today, you need more than an experienced guide. You need a ‘Real Estate Sherpa.’

A Sherpa is a “member of a Himalayan people living on the borders of Nepal and Tibet, renowned for their skill in mountaineering.” Sherpas are skilled in leading their parties through the extreme altitudes of the peaks and passes in the region – some of the most treacherous trails in the world. They take pride in their hardiness, expertise, and experience at very high altitudes.

They are much more than just guides.

This is much more than a normal real estate market.

The average guide just won’t do. You need a ‘Sherpa.’ You need an expert who understands what is happening in the market and why it is happening. You need someone who can simply and effectively explain it to you and your family. You need an expert who will guarantee you make the right decision, even in these challenging times.

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.” 

Bottom Line

Hiring an agent who has a finger on the pulse of the market will make your buying or selling experience an educated one. Contact Troy “Sherpa” Stavros (Ha!) with CornerStone Realty Associates for answers to your questions and a guide to get you through the process of buying and/or selling a home.

3 Signs The Housing Market Is Stepping It Up A Notch

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3 Signs the Housing Market Is on the Rebound | MyKCM

The residential real estate market has been plodding along for most of the year. However, three recent reports show the market may be on the verge of a rebound:

1. Existing Home Sales (closed sales) are up, marking two consecutive months of growth.

2. Pending Home Sales (contracts signed) are up with each of the four major regions reporting both month-over-month growth and year-over-year gains in contract activity. Here is the month-over-month growth:

  • The Northeast rose 0.7%
  • The Midwest increased 0.6%
  • The South increased 1.4%
  • The West grew 3.1%

3. Buyer Traffic (the number of people shopping for a home) is up compared to the same time last year, and for the first time in 13 months.

  • The Northeast is up 5.9%
  • The Midwest increased 1.3%
  • The South is up 2.7%
  • The West grew 2.2%

In their most recent report, ShowingTime Chief Analytics Officer, Daniil Cherkasskiy explained:

“The trend we saw in year-over-year buyer traffic in previous months continued across the United States. For all four regions there were more showings per listing this year compared to last year, making it the most competitive August in the last five years.”

Lawrence Yun, Chief Economist with the National Association of Realtors, believes the uptick in activity will continue into the future:

“It is very encouraging that buyers are responding to exceptionally low interest rates…With interest rates expected to remain low, home sales are forecasted to rise in the coming months and into 2020.”

Bottom Line

If you are thinking about selling your house, there are purchasers out there who are ready, willing, and able to buy. Call or text me, Troy Stavros with CornerStone Realty Associates at 865-205-6899 to get to process started!

NEW KITCHEN UPDATE! 2104 River Sound Drive, Knoxville, TN 37922

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NEW KITCHEN UPDATE! Seller’s JUST updated the kitchen and DIDN’T raise the price! New countertops, new tile backsplash, 3 new under-mount sinks, 3 new faucets, and a new Bosch cooktop!

Beautiful luxury home for sale in West Knoxville’s sought after River Sound neighborhood, located at 2104 River Sound Drive, Knoxville, TN 37922.

Let’s talk location! It’s amazing for so many reasons. If you travel, you are a mere 17 minutes to the McGee Tyson Airport. You are a short ride up I140 to Oak Ridge. Choose 3 different routes to downtown Knoxville. Grocery stores, banks, restaurants, and schools are just minutes away.

Let’s talk neighborhood! The only neighborhood in the metropolitan Knoxville area with a year-round indoor saltwater swimming pool. Additionally, there is a clubhouse, outdoor pool and tennis courts to enjoy. There is a private Marina that is restricted to River Sound property owners. Though there are only 38 slips, Slip B-2 is available to purchase with this home. Free outdoor storage area where you can keep your boat trailers or the like. People are friendly, properties are well kept, and when you say you live in River Sound, everyone will know you have been blessed and have chosen wisely.

Let’s talk house! Open floor plan! Enjoy the grandeur of the two-story entry and the curved staircase. Relax in the open family area with a cathedral ceiling adjacent to the kitchen. Functionally, this house is equipped with a 400+ sq ft dream kitchen. Starting with the Bosch 5 burner gas cook-top stove and double convection oven that is programmable from your phone. There is plenty of surrounding prep space for all elements of cooking. Within the 12-foot tile island is a vegetable sink with its own disposal and an instant hot water faucet. The best gourmet cooks will marvel at the setup and space utilization of this room and would love cooking in it given the opportunity. Have a cup of coffee by one of the 4 fireplaces or outback on the lighted Timber Tech deck that spans the length of the house and looks out over a private backyard. Between the outside decks, the big yard perfect for games of all kinds, a driveway meant for a basketball hoop, and a basement designed for fun, there’s a space for everyone. The owners can escape to a luxurious Master Suite with a spa-like bath, inclusive of a Jacuzzi tub and walk-in shower. The unfinished portion of the basement (846SF) has a workshop area and phenomenal storage. This area could be finished with relative ease. As great as the storage space is in the basement, there is also a walk-up attic (800+SF). It has easy access to tie in heating, air conditioning, water and electric. It is framed and ready to build should you want additional space. What else does this house have? It has two hot water heaters, 3 HVAC units, a three-car garage, four gas fireplaces, four full baths, two half baths, and two hoses for the Beam in-wall vacuum system.

For more information about this home or to schedule a private showing, contact Troy Stavros with CornerStone Realty Associates at 865-235-1333 or at the office at 888-388-DOOR xt. 707.

This listing is no longer available.

10264 Canton Place Lane – ALL FARRAGUT SCHOOLS!

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Tucked away on the outskirts of Farragut, and zoned for ALL Farragut schools. Enjoy safe walks and bike rides down the neighborhood sidewalks. This home has been well kept and nicely updated. The large eat-in kitchen offers plenty of granite-topped counter space, loads of cabinets, and an oversized pantry as well as counter seating and a place for your kitchen table. Also tucked in is a command central desk area. The family room is light and bright and made even cozier at times with a gas log fireplace. Step out the back door to the deck, which is great for outdoor entertaining and grilling, which looks out over the flat, fenced backyard. Owner’s suite up w/ double sinks, jacuzzi tub and shower + 2 more bedrooms + bonus room. Oversized 3 car garage (one bay being 26′ deep!). Sealed crawl.

Have questions or want to schedule a showing? Call/Text me, Troy Stavros with CornerStone Realty Associates at 865-205-6899.

This listing is no longer available.

Don’t Do These Things After Applying For A Mortgage!

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Things to Avoid After Applying for a Mortgage | MyKCM

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan.

Below is a list of Things You Shouldn’t Do After Applying for a Mortgage. Some may seem obvious, but some may not.

1. Don’t Change Jobs or the Way You Are Paid at Your Job. Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.

2. Don’t Deposit Cash into Your Bank Accounts. Lenders need to source your money, and cash is not really traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

3. Don’t Make Any Large Purchases Like a New Car or Furniture for Your New Home. New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher debt to income ratios…higher ratios make for riskier loans…and sometimes qualified borrowers no longer qualify.

4. Don’t Co-Sign Other Loans for Anyone. When you co-sign, you are obligated. As we mentioned, with that obligation comes higher ratios as well. Even if you swear you will not be the one making the payments, your lender will have to count the payments against you.

5. Don’t Change Bank Accounts. Remember, lenders need to source and track assets. That task is significantly easier when there is consistency among your accounts. Before you even transfer any money, talk to your loan officer.

6. Don’t Apply for New Credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO® score will be affected. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.

7. Don’t Close Any Credit Accounts. Many clients erroneously believe that having less available credit makes them less risky and more likely to be approved. Wrong. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those determinants in your score.

Bottom Line

Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. The best advice is to fully disclose and discuss your plans with your loan officer before you do anything financial in nature. They are there to guide you through the process.

Have questions or need a recommendation for an amazing loan officer? Call or text me, Troy Stavros with CornerStone Realty Associates at 865-205-6899.

6 Graphs Showing the Strength of Today’s Housing Market [INFOGRAPHIC]

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6 Graphs Showing the Strength of the Current Housing Market [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home.
  • Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market.
  • With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move.

Have questions? Call or text me, Troy Stavros with CornerStone Realty Associates at 865-205-6899 today and let’s setup a time to talk.