865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Renovated Historic 1900 Home in Downtown Lenoir City for sale

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Welcome to your dream home in Lenoir City, where history and modernity blend seamlessly! This completely renovated historic gem, originally built in 1900, has undergone a breathtaking transformation from top to bottom. Every inch of this home has been meticulously updated, preserving its timeless charm while incorporating modern amenities.

As you step inside, you’ll be captivated by the attention to detail that went into this renovation. The old wood floors, doors, and other materials have been repurposed into this work of art, adding character and a unique touch to every corner of the house.

Conveniently located just a short walk from Broadway and the charming downtown Lenoir City area, this home allows you to immerse yourself in a vibrant community. Take a leisurely stroll to the nearby coffee shop, ice cream parlor, boutique stores, and even the highly anticipated 21,000 square foot brewery/restaurant set to open its doors in 2024. Living here means embracing a lifestyle where entertainment, convenience, and enjoyment are just steps away.

Step inside and discover a spacious interior boasting four bedrooms, including two on the main level, providing flexibility and convenience for all occupants. With three full baths, morning routines will be a breeze. Everywhere you turn, you’ll find new features and upgrades, ensuring a fresh and inviting atmosphere. From the new exterior siding and windows to the new flooring, kitchen, bathrooms, and more, no detail has been overlooked in this impeccable renovation.

This home is truly one of a kind, offering the perfect blend of historic charm and modern comforts. Whether you’re seeking a primary residence or considering short-term rental opportunities, this property holds immense potential. As downtown Lenoir City continues to thrive, your investment in this home will only grow more valuable.

Beyond the doorstep, a world of recreational possibilities awaits. Within a 5-15 minute drive, you’ll find a stunning lake, marina, and golfing opportunities, allowing you to indulge in your favorite outdoor activities. Countless restaurants and shopping destinations are also just a stone’s throw away, ensuring that you’ll always have something new to explore. And for nature enthusiasts, the heart of the Smoky Mountains is just an hour’s drive away, beckoning with its majestic beauty.

Don’t miss out on the chance to call this historic masterpiece your own. Immerse yourself in the charm of Lenoir City, where a vibrant lifestyle and endless opportunities await. Schedule a showing today and make this remarkable home your own piece of history.

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Homes for sale in Knoxville TN : 12901 Sanderling Lane

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Welcome to your own Secret Garden in Knoxville TN where time may slip away as you read a book on the private patio or screened-in porch or daydream watching and listening to the birds singing in the trees. This wonderfully maintained 4-bedroom plus office West Knoxville home is zoned for Knox County’s Top Rated Farragut Middle & Farragut High Schools and is close to Knoxville area lakes, Knoxville parks, restaurants, Knoxville golf courses and more in the heart of West Knoxville and the Northshore/Choto area. You’ll be greeted by flowering shrubs, perennial flowers, and annuals as you stroll up the front walkway. Enter the open foyer flanked by the dining room and home office/music parlor. Move forward to the family room with gas log fireplace open to the large eat-in kitchen. Hardwood floors on both levels (only 1 BR w/ carpet). Oversized owner’s suite. A fully fenced rear yard offers wooded privacy.

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Homes for sale in Farragut TN – 12009 Broadwood Drive, Knoxville, TN 37934

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Advice for First-Generation Homebuyers in East Tennessee

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The sense of pride you’ll feel when you purchase a home in East Tennessee can’t be overstated. For first-generation homebuyers, that feeling of accomplishment is even greater. That’s because the pride of homeownership for first-generation buyers extends far beyond the homebuyer. AJ Barkley, Head of Neighborhood and Community Lending for Bank of America, says:

“Achieving this goal can create a sense of pride and accomplishment that resonates both for the buyer and those closest to them, including their parents and future generations.”

In other words, your dream of homeownership has far-reaching impacts. If you’re about to be the first person in your family to buy a home, let that motivate you throughout the process. As you begin your journey, here are three helpful tips to make that dream come true.

1. Reach Out to a Real Estate Professional

It’s important to reach out to a trusted East Tennessee real estate advisor early in your homebuying process. Not only can an agent help you find the right home, but they’ll serve as your expert advisor and answer any questions you might have along the way.

The latest Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveyed first-time homebuyers to see how their agent helped them with their home purchase (see chart below):

As the graph shows, your real estate agent is a great source of information throughout the process. They’ll help you understand what’s happening, assess a home’s condition, and negotiate a contract that has the best possible terms for you. These are just some of the reasons having an expert in your corner is critical as you navigate one of the most significant purchases of your life.

Advice for First-Generation Homebuyers | MyKCM

2. Do Your Research and Know What You Can Afford

The second piece of advice for first-generation homebuyers in East Tennessee is practical: do your research so you know what you can afford. That means getting your finances in order, reviewing your budget, and getting pre-approved through a lender. It also means learning the ins and outs of what it takes to pay for your home, including what you’ll need for a down payment.

Many homebuyers believe the common misconception that you can’t purchase a home in East Tennessee without coming up with a 20% for a down payment. As Freddie Mac says:

“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”

The chart below shows what recent homebuyers have actually put down on their purchases:

On average, first-time home buyers only put 7% down on their home purchase. That’s far less than the 20% many people believe is necessary. That means your down payment, and your home purchase, may be in closer reach than you realize. Keep that in mind as you work with an East Tennessee real estate professional to better understand what you’ll need for your purchase.

Advice for First-Generation Homebuyers | MyKCM

3. Don’t Lose Sight of What Home Means to You

Finally, it’s important keep in mind why you’re searching for a home to begin with. Overwhelmingly, first-generation homeowners recognize the financial and non-financial benefits of owning a home. In fact, in a recent survey:

  • 73% of first-generation homeowners say the safety and security homeownership provides is increasing in importance.
  • Nearly two-thirds of first-generation homeowners say the importance of building equity in a home is growing more important as well.

As AJ Barkley explains:

“For many first-generation homeowners and their families, homeownership has a unique importance, given the collective efforts to overcome financial challenges that can often span generations…”

Bottom Line

If you’re a first-generation homebuyer in East Tennessee, being prepared and working with a trusted expert is key to achieving your dream. Let’s connect today so you can get started on your path to homeownership.

Contact the Troy Stavros TEAM at CornerStone Realty Associates today at 865-999-0925 today and let’s talk about getting the process started!

2 Reasons Why Waiting To Buy a Home in East Tennessee Will Cost You

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If you’re a homeowner who’s decided your current home no longer fits your needs or a renter with a desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home.

To determine whether you should buy now or wait another year, you can ask yourself two simple questions:

  1. Where will home prices be a year from now?
  2. Where will mortgage rates be a year from now?

Let’s shed some light on the answers to both of these questions.

Where Will Home Prices Be a Year from Now?

Three major housing industry entities are projecting ongoing home price appreciation in 2022. Here are their forecasts:

According to the National Association of Realtors (NAR), the median price of a home today is $353,900. Using an average of the three price projections above (6.5%), a home that sold for $353,900 today would be valued at $376,904 at the end of next year. As a prospective buyer, you would therefore pay an additional $23,004 by waiting.

Where Will Mortgage Rates Be a Year from Now?

Today, Freddie Mac announced their 30-year fixed mortgage rate was at 3.1%. However, most experts believe mortgage rates will rise as the economy recovers. Here are the forecasts for the fourth quarter of 2022 by the three major entities mentioned above:

That averages out to 3.7% if you include all three forecasts. Any increase in mortgage rates will increase your costs.

What Does It Mean for You if Home Values and Mortgage Rates Increase?

If both variables increase, you’ll pay a lot more in mortgage payments each month. Let’s assume you purchase a $353,900 home today with a 30-year fixed-rate loan at 3.1% (the current rate from Freddie Mac) after making a 10% down payment. According to mortgagecalculator.net, your monthly mortgage payment would be approximately $1,360 (this does not include insurance, taxes, and other fees because those vary by location).

Two Reasons Why Waiting To Buy a Home Will Cost You | MyKCM

That same home one year from now could cost $376,904, and the mortgage rate could be 3.7% (based on the industry forecasts mentioned above). Your monthly mortgage payment after putting down 10%, would be approximately $1,561.The difference in your monthly mortgage payment would be $201. That’s $2,412 more per year and $72,360 over the life of the loan.

Add to that the approximately $23,004 a house with a similar value would build in home equity this year due to home price appreciation, and the total net worth increase you could gain by buying this year is over $95,364 (the $72,360 mortgage savings plus the $23,004 potential gain in equity if you buy now).

Bottom Line

When asking if you should buy a home, you may think of the non-financial benefits of homeownership. When asking when to buy, the financial benefits make it clear that doing so now is much more advantageous than waiting until next year.

Ready to get the process started? Contact the Troy Stavros TEAM at CornerStone Realty Associates today at 865-999-0925!

Beautifully Renovated Fox Den Golf Course Home For Sale in Farragut, Tennessee – (445 E Fox Den Dr)

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Better than new, impeccably renovated, golf course home located on the 17th tee box and overlooking the lake of the signature 16th hole of the Fox Den Country Club Golf Course in Farragut, TN. Don’t settle for a new home on a postage stamp lot stacked on top of another, when you can take advantage of a like-new home renovated from top to bottom in a spectacular setting. New custom kitchen, new baths with glass-enclosed showers, new flooring featuring engineered hardwoods and custom tile, new electrical including a new panel box, updated roof, all new lighting with LED fixtures, updated plumbing, upgraded ceiling/wall insulation, all new windows, and doors, custom closets, and even a new epoxy floor for the garage! Farragut inspected/approved. The only thing left to add are your memories!

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