Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. Today I talk about why it’s probably a good move to move!
210 Nancy Lane, Clinton, TN 37716 – Troy Stavros, CornerStone Realty Associates
SOLD! Introducing 210 Nancy Lane, Clinton, TN 37716. OFFERED AT $130,000! Cute and updated, one level living minutes from downtown Clinton. This 3 bedroom, 2 bath home is located on a quiet side street and sits on a level lot with a fenced back yard. Owner’s suite addition features new sitting/office area with french doors, large walk-in closet and master bath with upgraded vanity cabinet, granite counters, double sinks, and upgraded faucets. Bathroom #2 received similar updates with an updated vanity cabinet, granite countertop and updated faucet. Engineered wood flooring in the family room and hallway and tile in the baths. Lots of natural light fills the home whether it be through the picture window in the family room, the windows in the kitchen either over the sink looking into the backyard or in the eat-in dining area, not to mention the french doors in the owner’s suite. The large, flat backyard is fenced and includes a storage building for tools or toys. This property is eligible for USDA 100% financing!
Don’t delay, set up your showing ASAP, as we don’t expect this home to last more than a few days on the market!
Contact Troy Stavros with CornerStone Realty Associates directly via call/text at 865-205-6899 or via the office at 888-388-DOOR xt.707.
This listing is no longer available.Buying a Home? Do You Know The Lingo?
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Some Highlights:
- Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
- To point you in the right direction, here’s a list of some of the most common language you’ll hear when buying a home.
- The best way to ensure your home-buying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher.’
Have questions or ready to get the process started? Call or text me, Troy Stavros with CornerStone Realty Associates today at 865-205-6899.
How Fast Can You Save For A Downpayment? You Might Be Surprised!
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.
Using data from HUD, Census and Apartment List, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.
By determining the percentage of income spent renting in each state, and the amount needed for a 10% down payment, we were able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own.
According to the data, residents in Kansas can save for a down payment the quickest, doing so in just over 1 year (1.12). Below is a map that was created using the data for each state:
What if you only needed to save 3%?
What if you were able to take advantage of one of Freddie Mac’s or Fannie Mae’s 3%-down programs? Suddenly, saving for a down payment no longer takes 2 to 5 years, but becomes possible in less than a year in most states, as shown on the map below.
Bottom Line
Whether you have just begun to save for a down payment or have been saving for years, you may be closer to your dream home than you think! Let’s get together to help you evaluate your ability to buy today. Call Troy Stavros with CornerStone Realty Associates at 865-999-0925
Your Tax Refund Could Be Your Key To Homeownership!
According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year when filing their taxes. This is down slightly from the average refund of $3,436 last year.
Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals. For anyone looking to buy a home in 2019, this can be a great jump start toward a down payment!
The map below shows the average tax refund Americans received last year by state. $3016 in Tennessee:
Many first-time buyers in Knoxville and all over the country, believe that a 20% down payment is required to qualify for a mortgage. Programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae all allow for down payments as low as 3%. Veterans Affairs Loans allow many veterans to purchase a home with 0% down.
If you started your down payment savings with your tax refund check this year, how close would you be to a 3% down payment?
The map below shows what percentage of a 3% down payment is covered by the average tax refund by taking into account the median price of homes sold by state.
The darker the blue, the closer your tax refund gets you to homeownership! For those in Tennessee looking to purchase their first homes, their tax refund could potentially get them 61% closer to that dream!
Bottom Line
Saving for a down payment can seem like a daunting task. But the more you know about what’s required, the more prepared you can be to make the best decision for you and your family! This tax season, your refund could be your key to homeownership!
Want more information or to talk about getting the process started? Contact Troy Stavros with CornerStone Realty Associates today at 865-999-0925!
100 S. Pine Street, Maryville, TN 37804 -RENOVATED!
SOLD IN 6 DAYS! 100 S Pine Street, Maryville, TN 37804. Super cute, beautifully renovated home in Maryville. Convenient to downtown, shopping, restaurants, hospital, Maryville College, Clayton Center for the Arts, and an easy drive to the Smoky Mountains. 2 bedrooms and 1 full bath. Updates include: All new windows, updated flooring, new kitchen with stainless steel appliances and custom subway tile backsplash and granite counters, new bathroom with custom subway tile shower surround, custom tile floor and new vanity with granite top, new HVAC unit, new hot water heater. Hardwood floors in main living areas, tile in bath/laundry, and carpet in bedrooms. Washer/Dryer hookups. Covered front porch and covered back deck overlooks backyard and one car garage/storage building. Don’t forget the extra large side yard as well! Contact Troy Stavros with Gables & Gates, REALTORS at 865-999-0925 for information or to schedule your private showing.
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