Diary of a Short Sale - Week 2 After our initial submission of a nearly 100 page packet to the Wells Fargo short sale department it became a waiting game.  After several days of no contact from Wells Fargo we called them at the end of the week.  The first few times we called the short sale department we kept getting sent to a voicemailbox and had to leave a message.  After we did this a number of times we decided to select the option as a consumer instead of a real estate agent and we finally got a hold of a real person!  The conversation was very pleasant. They had our packet, we had been assigned a short sale coordinator and the internal BPO had been ordered!  We were shocked that we didn't have to send the packet again and it appeared that this might not be so bad.... As an extra bo... 06/09/2009

Send change of address to: * Post Office: give forwarding address * Charge accounts, credit cards * Subscriptions: notice requires several weeks * Friends and relatives * Bank: transfer funds, arrange check-cashing in new city * Insurance: life, health, and auto * Automobile: transfer of car title registration and driver's license * Utility companies (gas, electric, water, telephone, cable): arrange for refunds of any deposits and service in new home. * Cancel/change newspaper delivery * School records: ask for copies or tranfer of children's records * Health: medical, dental, prescription histories And don't forget to: * Empty freezer: plan use of foods * Defrost freezer/refrigerator * Have appliances serviced for moving * Plan for children and'or pets And on moving day: * Carry curren... 06/08/2009

So what do we do for fun here in Iraq.  First I will say that there are two groups of people here in Iraq, with a few in the gray area between.  There are those that are working the office setting like myself and those that are constantly on missions.  My last tour over here was with the second group where now I am with the first.  Those that are on missions.  Most days consist of five to seven hours of sleep.  You wake up, shower and shave, and get ready for the day.  The only way you are going to get breakfast is if you plan to sacrafice that last our of sleep to get it.  You go to your motor pool or similiar setting and prepare for that days mission.  Once you get weapons cleaned, vehicles checked, and mission essential supplies such as water it is time to line up and get ready for t... 06/07/2009

The first full week of June turned out to be a fizzle for real estate transfers recorded at the Knox County Register of Deeds office, dropping to just 50 recorded transfers from a high of 187 back on April 12 of 2009. In fact I believe 50 is the worst week we’ve had thus far in 2009.   Here's a graph with some past week's totals to compare:   Historically May and June have both been pretty strong sales months so just what the heck is happening now. I believe the main factors depressing our market and sale is an overwhelming lack of consumer confidence towards buying big ticket items like houses, a continuing climb in unemployment numbers, and unfortunately, plunging home values driven by distressed sales (foreclosures & short sales) which now account for 45% of the market. If someone in... 06/07/2009

Knoxville Area Home Sales using statistics from the Knoxville Area Association of Realtors® Provided by Cathy Glass, Realtor® Realty Executives Associates, 865-693-3232  Average Price and Number of Homes Sold (does not include condos)   Average Price Number of Homes Sold 1st Quarter 2008 212,807 2399 4th Quarter 2008 170,662 2037 1st Quarter 2009 166,844 1700 As you can see, in the first quarter of this year, the price of a home in the Knoxville area dropped 21% from the first quarter 2008 and is 2.2% lower than the fourth quarter of 2008. The number of home sales in the first quarter of 2009 was 29% less than the number in the same time period in 2008. It was also 16.5% lower than sales in the fourth quarter of 2008.  Average Price and Number of Homes Sold, including condos   Average P... 06/05/2009

With today's market I thought this previous post would be worth recycling. In our area we have a problem with this fungus/algae that grows on roofs and makes them look old and worn when actually an economical removal treatment can make them look almost new again. A huge part of getting buyers interested in looking inside a house is attractive curb appeal. Unfortunately in many parts of the country there are unsightly stains and discoloration on roof shingles that make even the most manicured landscaping lose some of it's luster once the buyer's eyes turn upward and see an ugly roof. A lot of those black streaks and stains are called by a type of 'roof algae' whose scientific name is Gloeocapsa Magna. Fortunately there is a solution; Roof-A-Cide has an environmentally safe, EPA Approved ... 06/02/2009

Today I am going to talk about the living and working conditions for my unit here in Iraq.  Before I start this blog I first need to say not to assume that this is the way that everyone lives or works, every unit is different . . and I mean that literally, every unit lives differently, has different "anemities", different schedules, different jobs, so this is just for one simple unit in Iraq.   The Camps, or FOB's -- We started our tour working in a huge building in Camp Victory . .one of the biggest, nicest bases in Iraq.  Many would say it is a resort compared to the others.  In fact I know several units that send people to Victory for rewards, for a few days off.  Camp Victory is attached to Camp Liberty, Stryker, and BIAP (Baghdad International Airport).  The three are connected so ... 06/02/2009

FREE, what a great word; it's one of my favorites. Let's face it, almost everyone likes free stuff especially if it's real free stuff with no strings attached. One of the most popular pages on my website, KnoxvilleHomeCenter.com is the "FREE STUFF" page. And one of the most popular free things I give away is a copy of a free, 52 page ebook titled "450 Ideas To Help Your Home Sell FASTER!".   I bought the reprint rights several years ago from fellow Realtor Wendy Jones for a very reasonable $97.00 including a custom cover with my photo and contact information on it. For your 97 bucks (economy version $67.00, no custom cover) you get the lifetime rights to publish and print or email as many copies of the book as you can crank out with one reasonable restriction below: "You will be able to... 06/01/2009

Lots of potential homebuyers are currently eligible for an $8,000 tax credit if they buy a new or resale home before December 1st of 2009. So why the big deal over a credit; we've always had tax deductions haven't we? Yes but there is a major difference between a credit and a deduction. A tax deduction reduces your amount of income subject to tax based on the tax bracket you're in. A tax credit is a dollar for dollar reduction in your tax liability. In Tennessee now the Tennessee Housing Development Authority (THDA) has a program in place where a homebuyer can borrow up to 3 1/2% of the purchase price of a home and repay it at 0% from the anticipated tax credit refund. So if you've been sitting on the fence waiting for the right time to buy; it's here. Conditions for buyers are better t... 05/27/2009

In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first‐time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over‐supply of homes for sale. For 2009, Congress has increased the credit to $8000 and made several additional improvements. This revised $8000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009. Tax Credits ‐‐ The Basics   1. What’s this new homebuyer tax incentive for 2009? The 2008 $7500, repayable credit is increased to $8000 and the repayment feature is eliminated for 2009 purchasers. Any home that is purchased for $80,000 or more qualifies for the full $8000 amount. If the house costs less than $80,000, the credit will be 10% of the cost. Thus, if an individual purchased a... 05/25/2009

Reading the weekly real estate transfers from the Knox County Register of Deeds office I see about the usual for the year number of property transfers recorded. This past week we had a total of 148   And as has been the case for 2009, mid to lower priced homes dominated the sales figures with the $100,000 to $150,000 the largest category once again. Since the $100,000 to $150,000 price range is such a hot place in an otherwise lackluster real estate market let's take a look at some of the homes that buyers found enticing enough to buy recently. This beautiful contemporary home with 3 bedrooms, 2 baths, and a 2 car garage sold recently for $150,000   One level living with a nice level yard and sold for just $134,000   This great looking home in the Cedar Bluff Road area closed at just $1... 05/25/2009

Yesterday, we were fortunate enough to have an almost full day off of work (a rarity- for this Knoxville, TN REALTOR team that has been kept busy due to all the 1st time homebuyers out in force and taking advantage of the 1st time Buyers Tax Credit). We decided take advantage of the beautiful weather and to to pay a long over due visit Knoxville's Market Square.  While downtown we feasted on some amazing sushi from Nama sushi bar (a local Earth friendly sushi bar), visited Mast General Store to stock up on their amazing gourmet gummy bears,  enjoyed a tasty treat from Marble Slab Creamery, and had an enjoyable afternoon sitting in Market Square listening to local live music and watching the kids play in the fountains. When it came time to dispose of my napkin left over from my ice cream... 05/25/2009

  The Knoxville area sales statistics are out now for the month of April. So what do the numbers look like compared to previous Aprils? Traditionally in April the spring sales season is humming right along with the birds and bees. Unfortunately the past few Aprils have seen more of a nosedive than an increase in volume of sales. Here’s a comparison of April sales volume for the past 11 years.   This chart displays over a 45% drop in sales volume in 2009 compared to April of 2005 and a 27% decline from April of 2008. So what’s going on with prices? Are prices of Knoxville area homes taking a similar dip.     Fortunately they are not. Even though the average sales price of a typical 3 bedroom Knoxville home is $151,300 compared to a peak of $168,300 in April of 2007 those numbers just mea... 05/23/2009

Before becoming a Realtor many, many years ago, I was in the restaurant business, mostly in management but I love to cook and create new recipes. Here’s a couple of my summer favorites that meet 2 of my main criteria for cooking; quick and easy.   Pulled BBQ pork, serves 4 You can fix this one in your crock pot or slow cooker. Ingredients: 2 pound Boston Butt Roast or boneless ribs work well also Salt and pepper to taste 1/2 a 14 ounce can of beef broth (you can freeze the other half for later use) Your favorite BBQ sauce To give it an interesting flavor save a couple of Tablespoons of brewed coffee and toss it in Preparation Put the roast or ribs in your crock pot or slow cooker, pour beef broth and optional coffee over. Cook on low setting for 6-8 hours or until meat is fork tender (s... 05/20/2009

First the federal government came up with the American Recovery and Reinvestment Tax Act of 2009 which provides for a tax credit of up to $8,000 or a maximum of 10% of the sale price of a home for buyer who have not owned a home in the past three years. Sounds like a good deal but a lot of otherwise qualified buyers were still being left out because even though they were able to qualify creditwise they were cash poor and just didn't have enough available funds to take advantage of the tax credit. Enter a new program from the Tennessee Housing Development Authority (THDA). Now you can actually borrow, via a second mortgage on your new home, up to 3.5% of the down payment amount which is not coincidentally the minimum down payment required for FHA financing. Basically all you need is a mi... 05/10/2009

Carpenter Bees are swarming right now and they could be eating your house. They love any sort of soft, unpainted wood such as deck rails, outside buildings, soffits, and other areas they can bore into and build a new colony. The most telltale sign of their activity are little piles of sawdust. Usually if you look upwards over the sawdust piles you will spot a small, perfectly round hole which is the new hive entrance. Another clue you can often observe, especially on light surfaces is light yellowish brown spotting on vertical surfaces like walls and support posts. This a a mixture of pollen and bee feces and another sign of bee activity.   Bumble Bee                   Carpenter Bee Once you've spotted them and identified them as Carpenter Bees, it's fairly simple to get rid of them as... 04/28/2009

Tennessee women's softball. The lady Vols won both sides of a double header again Georgia last week. Come to the game and see if they can do the same again Alabama. Friday, May 1st, 6 pm, and Saturday May 2nd at 3:00 pm. Sherri Parker Lee Stadium is a first class softball stadium on campus with outstanding facilities. Rick Recht, a Jewish rock singer (I told you there was something for everyone. ;-)) in concert Saturday at the Arnstein Jewish Community Center. Saturday, May 2nd at 8:00 pm. Sundown in the City continues with this week's featured artists Big Head Todd and the Monsters, an acoustic (no electic apliifiers, give your ears a rest) rock bank well known in college towns all over. Opening act is Joan Jones. Party starts at 6:00 pm, Market Square, price, FREE, one of my favorite... 04/28/2009

On Friday, April 24, 2009 the YMCA had the ground breaking ceremony at the new location at the Northshore / Choto area at Jefferson Park- Knoxville news premier waterfront community. This event brought out lots of happy and excited YMCA staff, community members, and local dignitaries. The new Davis Family YMCA has found a home on the Northshore Drive just in front of Jefferson Park Community and starts at the Blvd and extends all the way down toward the beginning of Montgomery Cove Subdivision. The new building will follow the architectural designs that are found in Jefferson Park and is anticipated to be about 24,000 square feet and feature a 6 lane indoor pool and a variety of programs geared toward family fitness, teen outreach, and seniors.   YMCA at Jefferson Park in Farragut TN   ... 04/25/2009

If you are looking for something fun to do on this warm and sunny 83 degree day in Knoxville, TN check out the Rossini Street festival.  Today, April 25th 2009 is the 8th annual Rossini Festival- an Italian Style Street Fair that celebrates the Italian opera, cuisine, and culture.  The Rossini Festival is a one day Free event that caters provides tons of fun and excitement for people of all ages. The Rossini Festival takes place in Downtown Knoxville at Gay Street and Market Square Activities include: Children's activities, music, handmade arts and crafts, and a variety of food and beverages- most offering a Mediterranean flavor. For more information visit the official Rossini Festival Website: http://www.rossinifestival.org/ Visit Christine McInerney and Jennifer Halinkowski with South... 04/25/2009

The new federal program to help homeowners stay in their homes by lowering their interest rate and payments by either modifying their existing loan or refinancing that loan is now open for business. One of the best parts about this program is that there is no charge to homeowners. I know there are scam artists out there offering to 'help' you refinance or get a loan modification for a fee but there is no need to give them any of your money these programs are very simple. Here's your first step. You need to visit www.MakingHomeAffordable.gov and answer just a few short questions to determine if you're nominally qualified. The first choice is a "Home Affordable Refinance" program which lets homeowners that are current on their mortgage payments but unable to refinance because their home's... 04/22/2009