East Tennessee Real Estate & Neighborhood Source
CLICK ABOVE TO WATCH THE VIDEO TOUR! One level living PLUS completely separate living quarters (which includes it’s own kitchen, family room, bathroom, bedroom, and laundry!) Total of 4 bedrooms and 3 full baths. Located on a cul-de-sac street in Karns, just minutes from shopping, restaurants, and Karns schools.
CLICK ABOVE TO WATCH THE VIDEO TOUR! Super convenient location is just minutes from shopping, restaurants, and the interstate. Hard to find custom 1.5 story home in the heart of Powell featuring a split floor plan with 3 BEDROOMS ON THE MAIN LEVEL plus a 4th bedroom and bonus room upstairs. Vaulted ceilings make the space feel open and airy. The large owner’s suite has a tray ceiling and updated bath with custom tile shower with glass door, whirlpool tub, and granite counter with double sinks. Plenty of room to play or entertain as you step out back to the screened porch and separate open deck area. Both overlooking the flat, fenced backyard. All of your parking needs are met between the 2 car garage and extra large concrete driveway that is suitable for parking an RV or camper. Zoned for all Powell Schools. USDA Eligible!
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Call/Text me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 today! My team and I would love to serve you!
Today’s homebuyers in Knoxville, TN are faced with a strong sellers’ market, which means there are a lot of active buyers competing for a relatively low number of available Knoxville homes. As a result, it’s essential to understand how to make a confident and competitive offer on your dream home. Here are 5 tips for success in this critical stage of the homebuying process and how to make a strong offer on a house in Knoxville, TN.
An article from Freddie Mac gives direction on making an offer on a home in Knoxville. From the start, it emphasizes how trusted professionals can help you stay focused on the most important things, especially at times when this process can get emotional for buyers:
“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”
A Knoxville real estate professional should be the expert guide you lean on for advice when you’re ready to make an offer.
Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. Doing so make it clear to sellers you’re a serious and qualified buyer, and it can give you a competitive edge in a bidding war (in fact in today’s market, most sellers aren’t even looking at offers that don’t come with a pre-approval letter from a lender.)
According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average property sold today receives 3.7 offers and is on the market for just 21 days (Knoxville’s median days on the market is only 9 days!) These are both results of today’s competitive market, showing how important it is to stay agile and alert in your search. As soon as you find the right home for your needs, be prepared to submit an offer as quickly as possible.
It’s only natural to want the best deal you can get on a home in Knoxville, TN. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t make an offer that will be tossed out as soon as it’s received. The expertise your Knoxville agent brings to this part of the process will help you stay competitive:
“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”
After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. You can strengthen your position with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Freddie Mac explains that there are, however, certain contingencies you don’t want to forego:
“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”
Today’s competitive market in Knoxville makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way.
Call/Text me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 today! My team is ready to serve you!
If you’re planning to buy a home in Knoxville, Tennessee, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a completely different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home in Knoxville.
The National Association of Realtors (NAR) explains:
“A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”
When you apply for a mortgage, an unbiased appraisal, which is required by the lender, is the best way to confirm the value of the home based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth.
This is especially critical in today’s sellers’ market where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their home under the assumption that competing buyers will be willing to pay more.
However, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your trusted local Knoxville real estate professional will help you navigate any additional negotiations in the buying process.
Here’s the key difference between an appraisal and an inspection. MSN explains:
“In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.”
The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your local Knoxville real estate agent is a key expert to help you through this part of the process.
The appraisal and the inspection are critical steps when buying a home in Knoxville, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate through the entire home buying process.
Call/Text me, Troy Stavros with CornerStone Realty Associates at 865-999-0925 today!
Watch the Walk-Thru video above and stroll around on your own below using the 360 Virtual Tour (best results are FULL SCREEN on a desktop!)
If you’ve been searching for homes for sale in Oak Ridge TN in that coveted 37830 zip code, then you are in luck! This Oak Ridge home for sale located at 113 Newport Drive, Oak Ridge, TN 37830 is stunning inside and out! Located on a beautiful lot amongst the nice homes in the Oakcliff Estates Subdivision of Oak Ridge, Tennessee, you will immediately fall in love with the open floor plan and newly renovated kitchen and baths that you would expect to find in a brand new home for sale in Oak Ridge TN with amenities like new high ceiling cabinets and granite countertops. But it’s better than new because unlike new homes in Oak Ridge TN, you get a glorious .55 acre lot with mature trees, pavilion, and more!. Cue the wildlife as you back to the Oak Ridge TN green belt! Enjoy your morning cup of coffee in the sunroom overlooking your private backyard. Other features to enjoy are the solid wood cathedral ceiling in the living room, large windows inviting in natural light, new wood floors and owner’s suite with sitting room, walk-in closets, dressing room, and spa-like bathroom. This home is conveniently located just minutes from Oak Ridge TN shopping, restaurants, healthcare, and also convenient to Oak Ridge National Laboratory in the event you might be working there.
Oak Ridge Tennessee is a short drive into Knoxville Tennessee and the interstate gives you access to 75% of the U.S.A within a day’s drive. Oak Ridge TN real estate is hard to come by these days so don’t delay.
Have questions or want to see this home? Call/Text, Troy Stavros with CornerStone Realty Associates at 865-999-0925. We can help you with all things related to Oak Ridge TN real estate, the 37830 zip code, and all of Knoxville, Tennessee.
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