Archive for January, 2008
A Home Warranty - Insurance for the Unexpected
Categories: Chattanooga Real Estate News, First Time Buyers, For Home Buyers, Home Maintenance
By David Israel, Business Manager - Andy Hodes and the Scenic City Team
In today’s Chattanooga Real Estate Market, whether you’re selling, buying, or plan to stay in your home, a home warranty protection policy gives you the peace of mind of knowing that your home appliances and mechanical systems are covered should there be any unexpected breakdowns. You can’t prevent system failures or breakdowns, but you can reduce the cost and aggravation with a good home warranty.
There are several home warranty companies serving the Chattanooga area. HSA Home Warranty is the one that we recommend to our buyers and sellers. They have great customer service, offer a fair and comprehensive product, and back up their policy with an outstanding team of licensed contractors.
“When working with seller’s our team recommends that they take advantage of a home warranty during the listing and then offer the buyer its protection after closing. “
Selecting a home warranty up-front protects the sellers while their home is on the market and is a valuable incentive to the buyer. The warranty goes into effect when the home gets listed and is transferred to the buyer for a full year at closing. The seller pays for the warranty at closing. Coverage is different for sellers and buyers so be sure to read the policy summary.
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Sellers - Don’t Let the Lights Go Out!
Categories: Ask Andy, Chattanooga Real Estate News, For Home Sellers
By Andy Hodes, Realtor, Andy Hodes & The Scenic City Team
While most real estate transactions glide to a successful and on-time closing, there are instances when a closing is delayed by a couple of days, or worse gets cancelled all-together. Even though our closing team does everything possible to keep things on track, delayed or cancelled closings are a fact of life.
Because of the possibility of a delay or cancellation, we advise our Sellers to wait until the day of closing to notify the electric, gas and water utilities to discontinue their service.
Many Sellers, attempting to stay on top of every detail, have their utilities shut off on the day of closing. If closing is delayed, Sellers risk having their utilities disconnected, requiring phone calls and reconnection fees to restore service. Even worse would be the loss of service during a cold Winter night.
Simply wait until after closing and then contact your utilities. If the Buyer has already set up their account, your utilities will verify the change, ask for your forwarding address and you are done.
If the Buyer hasn’t arranged for service, provide your forwarding address and request a final meter reading. Our utilities here in Chattanooga usually get someone out to read the meter in a day or two. Also, let your Realtor know so they can remind the Buyer, or the Buyer’s agent to arrange for service at their new home.
Waiting guarantees uninterrupted service and a smooth landing.
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Attention Buyers! Dream Home or Nightmare? How a Great Realtor is a KEY Player on Your Team.
Categories: Ask Andy, Chattanooga Market Conditions, Chattanooga Real Estate News, First Time Buyers, For Home Buyers
- By Kacey Sides, Realtor, Buyer Specialist with Andy Hodes & The Scenic City Team
Ready to buy a home? Whether it’s your first or your fifth, each experience can be a little different, so hiring the right Realtor can eliminate potential nightmares in finding and purchasing your dream home - especially when buying a home is not something you do everyday.
Here in Chattanooga, it’s definately a buyer’s market and you see multiple for sale signs in just about every neighborhood. Not only do those signs advertise the home for sale, they also show that the seller hired a Realtor to represent them, market their home and ultimately maximize their bottom line. Buyers, did you know that you can hire a Realtor to represent you in your home search? It’s a smart move that will put you on a level playing field with the seller and their agent.
A great Realtor will provide expert assistance to help you find a great house at a great price using these proven tools:
1. The Home Buyer Consultation - During the consultation your Realtor will talk with you to understand what you need and want in your new home. He or she will fully explain and guide you through every step of the home buying process.
2. The Mortgage Pre-approval - If you need a loan to purchase your next home, it’s essential to nail down those details up front. Unless you have an established relationship, your Realtor will get you to a reputable lender than can (1) evaluate your credit profile, (2) help you find a loan that best meets your needs, (3) determine your price range and (4) issue a pre-approval letter. A pre-approval letter shows sellers that you have a loan ready-to-go giving you a potential upper hand in the negotiations.
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Staging - Attracting the Right Buyer Audience
Categories: Chattanooga Real Estate News, For Home Sellers, Home Maintenance
Staging your home in Chattanooga is key to find a buyer to purchase your home. You will only get a chance for a first impression once. There are tons of things you can do and even more that you should not do to attract a buyer to your home.
4 Great Tips on Staging your Home
1. Pick up recent issues of home Decorating Magazines like Country Living or Better Homes and Garden for ideas on making your home look the best it can look.
2. Stage a Home Office, it is not a trend, it is a reality in today’s market. Many Chattanooga buyers are looking to be able to run their businesses out of their homes. If you are not using a spare bedroom, stage it like an Office. Today’s buyers are looking at homes with the anticipation of setting up a home office.
3. Float your furniture. Move your couch away from the wall and place it at an angle. Set up a reading area in your living room with a chair and lamp. This might not be how you would place your furniture, but it is a way to make the buyer see how comfortable the home looks. You can find more information on floating furniture at HGTV.com.
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The Fed is Ready to Act
Categories: Chattanooga Real Estate News, First Time Buyers, For Home Buyers, Mortgage and Finance
By Angel Sherlin of Greater Chattanooga Lending - Guest Mortgage Author
This week mortgage rates continued their recent trend lower on the perception that the economy is slowing even more 
than expected. Economic weakness generally leads to less inflation, which tends to produce lower mortgage rates. Confirmation of an economic slowdown was provided in a speech by Fed Chief Bernanke on Thursday. Calling the December Employment report “disappointing” he suggested that the Fed is prepared to take “substantive” action and that further easing may well be necessary in light of the risks of a slowing economy. Investors interpreted his remarks to mean that the Fed will be likely to cut rates more aggressively than previously expected, and they now price in a near certainty of a half point rate cut at the next meeting on January 30.
Bank of America announced that it had reached an agreement to acquire Countrywide Financial. The news came as concerns about Countrywide’s solvency were causing unease in the market, but the pending acquisition has helped to ease those fears. A bankruptcy of Countrywide would not have been good for the mortgage industry and its ripple effects would have been flet throughout the economy.
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Hunter Museum of American Art
Categories: Chattanooga Real Estate News, Things to Do in Chattanooga
The Hunter Museum of American Art is nestled on an 80 foot bluff which offers beautiful landscapes of the Tennessee River and Downtown Chattanooga.
These majestic outdoor panoramic views will whet your appetite for the American art masterpieces which greet you once you step inside the doors of the museum.
As you traverse the Hunter Museum, you will find walls graced with paintings by legendary artists such as Mary Cassatt, Edward Hopper, and Andrew Wyeth.
An extensive collection ranging from landscapes by famed 19th century Hudson River School artists to contemporary works by masters such as Andy Warhol will provide you a visual timeline of American art.
Admission is just $8, and $4 for children ages 3-17. Annual memberships are available.
The Hunter Museum also offers Art History seminars and beginning art classes.
More information on the Hunter Museum of Modern Art can be found here.
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