Lower Interest Rates For Knox County Home Buyers

Knox County home buyers experienced lower interest rates this week according to the Primary Mortgage Market Survey conducted by FreddieMac.com. The weekly survey reported the average rate on a 30-year fixed-rate mortgage to be 6.14% compared to last week's 6.18%.
This is the third week of dropping rates and the lowest rate since the beginning of the year.

Lower interest rates is excellent news for home buyers. Traditionally, rates increase in the spring which is prime buying season for Knox County real estate. Inventory increases in the spring meaning there are more homes to choose from. Add to this lower rates and buyers will have their cake and eat it too.

Are you buying a home this spring? If so, visit my website to view all Knox County real estate listings and give me a call, 740-397-7800. I am at your service!

CNNMoney.com Reports Housing Start Rebound

CNNMoney.com reports the pace of homebuilding rebounded in December, with housing starts jumping to an annual pace of 1.64 million from a revised 1.57 million rate in November. The rebound took place even as single-family home construction remained weak. Read full story...

All forecasts call for 2007 real estate sales to be stronger than 2006, making this a great time to buy Knox County real estate. Visit SamMiller.com to search all Knox County homes for sale.

Paying Points Doesn't Pay

FreddieMac.com reported interest rates inched up this week. The average rate on a 30-year fixed-rate mortgage was 6.21 percent compared to the previous week's 6.18 percent.

When rates inch up, borrowers become more interested in paying upfront discount points to reduce their interest rate over the life of the loan. One discount point is equal to one percent of the loan balance and is paid at the time of closing.

A new study by MarketWatch.com indicates that paying upfront points rarely saves the borrower money. You must weigh the upfront costs against the long term savings and most borrowers over-estimate the amount of time they will pay on the loan without refinancing or actually own the house.

If you are thinking of buying a home and are weighing your options concerning paying discount points, contact me. I'm glad to discuss this with you and assist with you with making a good home buying decision.

Also, visit KnoxCountyMLS.com to receive new Knox County real estate listings as they hit the market. It's fast, easy, convenient and FREE.

Interest Rates Decline For Fifth Week

FreddieMac.com reports long term interest rates declined this week for the fifth consecutive week. The average rate on a 30-year fixed rate mortgage is 6.14 percent for the week ending Nov. 30. Down from 6.18 percent last week.

Rates like this make buying a new home for Christmas a great idea. Visit KnoxCountyListings to view all the homes and all the information, 24 hours a day...without having to speak to an agent.

Democrats And Housing

Homeowners and prospective home buyers will see changes when the Democrats take control of both houses of Congress early in 2007. Democrats have different priorities from Republicans on issues such as affordable housing, land-use restrictions and predatory lending. Full story...

If you are thinking of buying or selling a home in Knox County, visit my website to view all real estate listings, get the current market value of your home and more.

Top Tips For Selling A Home During The Holidays

Consider potential buyers spiritual backgrounds in your market before decorating for a holiday.
-Minimize holiday decorations to keep focus on your home and its features and benefits.
-Less is more when decorating a home for the holidays while you are trying to sell. Streamline the amount of holiday specific decorations you display.
-Christmas trees and other large holiday decorations consume space that might make rooms appear smaller.
-Install and remove exterior holiday decorations 2 weeks before and after holiday.
-Turn off lighted holiday decorations before showings, buyers should focus on your home and not your decorations.
-If you are having out-of-town house guests, ask your agent to postpone showings until after your guests depart.
-Leave out a plate of home-made holiday treats for potential buyers.
-Display summer photos of home and gardens to inform buyers of the features of the home in other seasons.
-Before showings remove snow, ice and leaves from walkways and driveways. Don't overlook outside entrances to basements, garages, and porches.
-If you plan to close the purchase or sale of a home near a holiday, check with your agent, title, company and lender to verify two business days before closing that they have all the required documents and funds have been wired to complete the transaction.
-If you are closing on your new home, select a mid-week day, early in the day, to schedule your closing time, to accommodate last minute delays by a mortgage loan processor, insurance or title company.
-If you plan to move during the holidays, keep in mind that moving companies will require more notice and could charge additional fees for packing, moving and delivering household goods on week-ends and holidays.

Thinking of buying or selling Knox County real estate? Visit my website to view all real estate listings, get the current value of your home and more.

Questions To Ask When Buying A Home

While gourmet kitchens are nice, picking a home that meets the whole family’s needs is more important. Here are the questions to ask about the homes you are considering.

1. Area Recreation
Is there neighborhood pool or a covered tot lot? Are there walking trails or other safe places to exercise?

2. The Backyard
Is the backyard safe for pets and children?

3. Storage
Is there adequate storage for lawn care and play equipment?

4. Bedrooms
Whose bedroom is over the garage? Will you be able to open the garage without waking up the baby?

5. Bring in Groceries
Does the garage open into the kitchen for ease with groceries or do you have to trek through the entire house?

6. Homeowner's Association
How invasive are the homeowner association’s rules? Will the association allow you to put up a basketball hoop or install a swing set? Where can you park extra cars?

7. Location
How far away are the grocery store, post office, bank, park, gas station, and schools?

8. Washer & Dryer
Where are the washer and dryer located? Will operating them during naptime or evening hours disturb sleepers?

9. Internet Access
Does the area have good Internet access?

10. Children
What is the ratio of adults to children and how many older children are there vs. younger ones?
(Source: Realtor Magazine Online)

Thinking of buying or selling Knox County real estate? Visit my website to view all real estate listings, get the current value of your home and more.

Small Business Tax Advantages

Small business owners can take advantage of accelerated tax depreciation benefits just by purchasing a new Land Rover before December 31, 2006. See your tax advisor to determine if you are eligible for this benefit. Visit landroverusa.com/taxbreak for details.

There are also tax advantages to owning Knox County real estate. The interest you pay on the mortgage for your personal residence is tax deductible. Are you thinking of buying Knox county real estate? Visit SamMiller.com to view all Knox County real estate listings.