PRICING YOUR HOME TO SELL

For the next few issues, I will be addressing the problem of getting your home sold in today’s market. One of the first things to address is pricing your home properly.

In our area of East Tennessee, we didn’t experience the extreme inflation of home prices as did a lot of our country. Nonetheless, we did have a moderate rate of inflation. In the current down-turn of the market, we are still affected, about to the same extent as our previous inflation rates.

According to the latest Zillow Real Estate Market Report, home values in Morristown decreased 3.30% in the second quarter of 2008, compared to the second quarter of 2007. Nationally, home values decreased 9.9% during this same period.

Pricing is one of the most important details to consider when selling your home. If it is priced too high, the buyers and their agents won’t even consider your property. We all understand that you may have paid from three to ten percent higher for your home 2 years ago, but in order to get it sold in today’s market, you must consider what other like homes are selling for.

Even if a buyer did come along who “just had to have” your home, they most likely would not be able to get a mortgage because the lender would not be able to find comparable properties when they do the appraisal.

For expert assistance and real facts to help you sell your home as quickly and at the best price possible, contact me. My cell number and my e-mail address is available on this web site.

Gas prices going higher- what do we do now?

The topic of rising gas prices seems to be on everybody's mind these days. And understandably so. I came across this article recently in the Citizen Tribune. We have all heard most of these things about how to conserve gas, but it never hurts to pick up a new idea here and there.



Gas prices going higher BY MELANIE LALLIER, Tribune Staff Writer



For Lakeway Area residents struggling against steep prices to keep their gas tanks full, there is no reprieve in sight.

"We’ve got a big, big supply of gas and oil right now ... There’s no fundamental reason why we should be seeing this right now," said AAA East Tennessee Director of Public Affairs Don Lindsey.

Reports this morning on the AAA Web site show Morristown area prices averaging out at $3.71 and ranging from $3.64 at the Fast Stop #6 on E. Andrew Johnson Highway to $3.80 at the BP on E. Andrew Johnson Highway. This average is up $1.47 from last year. *
Add a flailing housing market and a jump in prices of necessities such as food, energy and medications, and the economic status of the United States seems to be in a state of stagflation. The figures point to an increase in inflation not seen since late 1981 and economic activity is declining, according to various reports.

"It’s not just oil that this is happening to," said Lindsey. "... A variety of globally traded commodities are doing the same thing."

Lindsey says that one of the most prominent factors in the price increase is the speculation about what might happen to the prices and availability of these things.

Focusing on ways to conserve or limit gas consumption may be the only way for East Tennesseans and Americans to keep a little bit of money in their wallets.

According to http://www.fueleconomy.gov/, driving smaller, lighter cars that boast better gas mileage is one way to conserving fuel, along with carpooling and public transportation.
For those who don’t find those options practical or accessible, removing any excess weight from a vehicle will help. Unused roof racks, junk in the trunk and anything else that may be weighing a car down, may also decrease gas mileage.

While-driving tips from that Web site include driving slower, accelerating at an even pace, not over-accelerating up hills, slowing down and breaking slowly and observing speed limits can reduce gas consumption by up to 33 percent.

Other tips include using cruise control and over-drive features and avoiding excessive idling. Many times, tips for better fuel efficiency can be found in the owner’s manual of a car.

*These prices have been adjusted to reflect accurate prices as of the day of this posting.

I'm finally going live!

Blogging... This is a new world to me. I'm jumping in with both feet. The goal of this blog site is to provide a place where people can learn about the real estate community in East Tennessee, specifically the Morristown area and surrounding communities.


This past weekend, a handful of Realtors came together for a very successful event. There is a fairly new subdivision in Hamblen County called The Plantation at Cedar Creek. It has exploded with new homes over a three year period and is a very nice place to live. It's close to Morristown, in the Russellville School District, which is a great school and convenient to the east end industrial area.


As a result of the quick development, several builders have spec homes in there for sale. They got caught in the current real estate down turn and are setting on their investments. There are also several other homes for sale as a result of owners needing to relocate. That's where I came in. I have one listing there and my seller needs to move out of the area. I decided to contact all the other realtors who have listings and we coordinated a Subdivision Open House.


What a success! And how refreshing to have an open house that was constantly visited with as many as 4 groups of visitors at one time. One seller said it was like having a block party. People were walking up and down the street, visiting, meeting each other and their potential new neighbors.


I will be following up with each of the agents to see what the results are and will report back in a successive blog. I would encourage any Realtors in this situation to get together and offer their homes in a group. If you are a homeowner (seller) and other homes in your neighborhood are for sale, contact your Realtor and ask them to do this.


If you are thinking of selling your home and don't have a Realtor, please contact me. I always have room for one more customer!!!