Special offer

Morristown, TN Real Estate News

By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
\\ The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morristown Tennessee, Whitesburg, Talbott, Russellville, Sevierville, Bean Station, Dandridge, Pigeon Forge and surrounding communities.We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others. Each office independently owned and operated.Elite Realty Group is a full service real estate company serving Morristown TN Real Esta...
Comments 4
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Finding the Right AgentNot all agents work the same way. The most important attribute of an agent is that he/she is well connected to the real estate industry. He/she should know the market and provide information on past sales, current listings, his or her marketing plan, and at least 4 solid references. In addition, you also want to look for an agent that is honest, assertive, and one that best understands your needs.Try to go with a local agent. They can better serve your needs because they should be more familiar with the local market conditions, local prices, and what’s hot or not in your community.The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morrist...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Build a Plan of Action and Get ReadyBuying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribute significantly to getting the best home deal possible with the least amount of stress. It’s important to anticipate the steps required to successfully achieve your housing goal and to build a plan of action that gets you there.Before you can build a plan of action, take the time to lay the groundwork for your decision-making process.First, ask yourself how much you can afford to pay for a home. If you’re not sure on the price range, find a lender and get pre-approved. Pre-approval will let you know how much you can afford, allowing you to look for homes in your price range. Getting pre-approved also helps you to allev...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morristown Tennessee, Whitesburg, Talbott, Russellville, Sevierville, Bean Station, Dandridge, Pigeon Forgeand surrounding communities.We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others. Each office independently owned and operated. Elite Realty Group is a full service real estate company serving Morristown TN Real Estate ...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Adjustable Rate Mortgages - The PROS & CONSNow that you know what an ARM is and how it works, you may be wondering what the advantages and disadvantages are. So let’s explore that issue.Offering adjustable rates allows lenders to transfer part of the interest rate risk from themselves to the borrower. If you get a fixed rate mortgage and the interest rate then goes up, it costs the lender money. However, if you have an adjustable rate mortgage, as the interest rate goes up, so does your payment, thus compensating the lender. Adjustable rate mortgages are particularly useful when unpredictable interest rates make fixed rate loans hard to get.One of the main advantages of an adjustable rate mortgage is that the initial interest rate is lower than that of a fixed rate mortgage. A lower rat...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Closing and Title CostsIt’s the big day.The day you go to the title or escrow company, sign your name on the dotted line, hand over a check and prepare to take ownership of your new home.It’s also the day that you and the seller will pay “closing” or settlement costs, an accumulation of separate charges paid to different entities for the professional services associated with the buying and selling of real property.It’s too often a day filled with uncertainty and stress.To help you better understand this confusing subject, the Land Title Association has answered some of the questions most commonly asked about title, closing and closing costs.What services will I be paying for when I pay closing costs?You will usually be paying for such things as real estate commissions, appraisal fees, l...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morristown Tennessee, Whitesburg, Talbott, Russellville, Sevierville, Bean Station, Dandridge, Pigeon Forgeand surrounding communities.We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others. Each office independently owned and operated. Elite Realty Group is a full service real estate company serving Morristown TN Real Estate ...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and Morristown TN Homes For Sale to home buyers and home sellers in Morristown Tennessee, Whitesburg, Talbott, Russellville, Sevierville, Bean Station, Dandridge, Pigeon Forgeand surrounding communities.We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others. Each office independently owned and operated. Elite Realty Group is a full service real estate company serving Morristown TN Real Estate ...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Considering OffersWhen reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a buyer.Some terms that may work in your favor: higher-than-market-interest in a second mortgage for your home the buyer will pay for most or all of the closing costs the buyer will take care of any repairs quick close - the buyer is pre-approved and ready to close in a timeframe that best suits you all-cash deal When reading through offers, remember to look at the whole package. Take the time that you need to assess what is being offered and if it meets your needs.The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale and ...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Avoiding Financial StressBy asking the right questions, and knowing exactly what your needs are, you can find the right loan for you. There are certain approaches that you can take while mortgage shopping that can cost or save you money.It is still true that the better qualifications you have, the lower your interest rate will be. However, there are mortgages available for almost everyone; it's the interest rates or the down payments that vary.Before speaking with a lender, know what monthly dollar amount you feel comfortable committing to. Then when you discuss mortgage pre-approval with your lender, it is easier for you to determine the monthly amount and what value of home the monthly amount translates into. Do not put yourself in the position where you will be paying more each month...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Your Savings and Down PaymentYour First Step Toward Buying a HomeWhen preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next thing you should do - before you call on an ad, before you talk to a REALTOR®, before you shop for interest rates - is look at your savings.Why?Because determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home - including how you write your purchase offer, the loan programs you qualify for, and shopping for interest rates.Mortgage ProgramsIf you only have enough available for a minimum down payment, your choices of loan program will be limite...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Why Do You Need Title Insurance?Title Insurance.It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the benefits and procedures of title insurance. But if this is your first home, you may wonder, “Why do I need another insurance policy? It’s just one more bill to pay.”The answer is simple: The purchase of a home is most likely one of the most expensive and important purchases you will ever make. You, and your mortgage lender, want to make sure that the property is indeed yours - lock, stock and barrel - and that no individual or government entity has any right, lien, claim to your property.Title insurance compani...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
What is a Short Sale Anyway?An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale?A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgives the remaining balance. Selling your home as a short sale is one way to avoid foreclosure.As a general rule, lenders lose money when they foreclose on a property. Consequently, they would rather not have to foreclose if it can be avoided. A short sale represents an opportunity to cut their losses because a short sale usually allows them to recoup more of the cost of the loan than a foreclosure process would.However, don’t think that a short sale is an easy thing to accomplish. In ord...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Why You Should Not Make Any Major Credit PurchasesDon’t go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Your mortgage pre-approval is subject to a final evaluation of your financial situation.Every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility. For example, a car payment of $300/month could mean that you qualify for $30,000 less in a mortgage.Even if you have accumulated enough savings, you should consider not making any large purchases until after closing. The last thing you want is to know that you could have purchased a new home had you curbed the urge to spend.The Elkins Home Selling Team with Elite Realty Group provides services with Morristown TN Real Estate For Sale ...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Which ARM is the Best Alternative?How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan with an interest rate about 1% below a thirty-year fixed rate mortgage and pay zero points? Or a loan where you did not have to document your income, savings history, or source of down payment? How would you like a mortgage payment of only 1.95%? You can have all that with the 11th District Cost of Funds (COFI) Adjustable Rate Mortgage.Sound too good to be true? Sound like a bunch of hype?Each statement above is true. However, it is also only part of the story and loan officers do not always tell you the whole story when promoting this loan. Other loan officers may try to scare you away from adjustable rate mortgages. Howe...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Understanding Title InsuranceWhat is title insurance? Newspapers refer to it in the weekly real estate sections and you hear about it in conversations with real estate brokers. If you’ve purchased a home you may be familiar with the benefits of title insurance. However, if this is your first home, you may wonder, “Why do I need yet another insurance policy?” While a number of issues can be raised by that question, we will start with a general answer.The purchase of a home is one of the most expensive and important purchases you will ever make. You and your mortgage lender will want to make sure the property is indeed yours and that no one else has any lien, claim or encumbrance on your property.The Land Title Association, in the following pages, answers some questions frequently asked a...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Setting the PriceThe price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following: houses in your price range and area that were sold within the last half-year asking and selling prices of houses current inventory of houses on the market features of each house on the market From the CMA, you will learn the difference between the asking price and sell...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Use a Buyer’s AgentIt’s important that you choose an experienced agent who is there for you. Your agent should be actively finding you potential homes, keeping you informed of the entire process, negotiating furiously on your behalf, and answering all of your questions with competence and speed.First, find an agent who represents you and not the seller. This is beneficial during the negotiation process. If you are working with a buyer’s agent, he or she is required not to tell the seller of your top choice. In addition, he or she is also focused on getting you the lowest asking price.Also, when you use a buyer’s agent, you will see more properties. Not only are they plugged into their Multiple Listing Service, but they are also actively finding homes that are listed as FSBO, or homes th...
Comments 1
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Which ARM is the Best Alternative?How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan with an interest rate about 1% below a thirty-year fixed rate mortgage and pay zero points? Or a loan where you did not have to document your income, savings history, or source of down payment? How would you like a mortgage payment of only 1.95%? You can have all that with the 11th District Cost of Funds (COFI) Adjustable Rate Mortgage.Sound too good to be true? Sound like a bunch of hype?Each statement above is true. However, it is also only part of the story and loan officers do not always tell you the whole story when promoting this loan. Other loan officers may try to scare you away from adjustable rate mortgages. Howe...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Where Does the Money Come From for Mortgage Loans?In the olden days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had extra funds lying around and considered you a good credit risk, they would lend you the money from their own funds.It doesn’t generally work like that anymore. Most of the money for home loans comes from three major institutions: Fannie Mae (FNMA - Federal National Mortgage Association) Freddie Mac (FHLMC - Federal Home Loan Mortgage Corporation) Ginnie Mae (GNMA - Government National Mortgage Association) This is how it works:You talk to practically any lender and apply for a loan. They do all the processing and verifications and finally, you own the house with a home loan and regular mortgage payments. You...
Comments 0
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
WHAT’S A FICO®?What is a FICO® Score?FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau’s computer evaluates a complete credit profile and assigns a score, which is used to estimate credit worthiness. Each of the three bureaus (Experian, Trans Union, Equifax) employs its own scoring system, so a given person will usually have 3 separate scores. Someone with a higher score will be viewed as a better risk than someone with a lower score. Typically, scores will range from about 600 to 700 or above, although some cases will be outside this range.What Kind of Score Do I Need for a Home Loan?There are as many answers to this question as there are loan programs available. Most lenders will take the average of...
Comments 0
Explore Morristown, TN
Morristown, TN Real Estate Professionals