Home With Acreage - Now With New Options to Buy

A few weeks ago I posted a new listing at 507 Brandi Lane in Blaine, TN. We have had many calls on it and each call did not realize it would come with 12.76 acres to maintain. (and to get a loan on) This week we decided to split it out and now we offer 3 options for buying. The options are as follows:

• All 12.76 Acres with home, garage/workshop and shed offered at $235,000.
•  5.54 Acres with home, garage/workshop and shed offered at $185,000
• 7.22 acres raw land offered at $55,000 ( great price at under $8K and acre)
  
  
  

  

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Land lays gradually rolling to top where mountain views are all around.

The Life of a Real Estate Agent

Here is an blog post I wrote in 2010 but never published. Now as I am well into my 7th year as a Realtor I sometimes ask myself the some of the same questions. Would it be better to have a job with regular hours and benefits? A regular paycheck each week I could count on ? 

I am a real estate agent. I work with buyers and sellers. I also deal with some folks who seem to think I do this just because I love to drive them around all day and look at houses and I love it so much I will do it for days and days even though they can't buy a home or have no intentions of buying a home. They just love to look at houses and see how they are decorated and dream. They think Realtors® are rich or that we get paid just for driving them around.
Before I became a Realtor® and I am a Realtor® not just an agent (there is a difference) I'm not exactly sure what I thought about real estate agents other than I don't think it was good. I know I didn't trust them. Don't really know why but I just didn't. Right there with lawyers and used car salesmen.

So why in the world would I conscientiously decide to become a real estate agent?  Sometimes I still wonder??? Actually I became a Realtor® because of my feelings and beliefs about them. I wanted to provide a service for buyers and sellers and be someone who was trustworthy, honest and would serve them with the highest ethics. I wanted to make a difference. 

I am now in my 4th year of real estate and while I love helping buyers with this exciting and monumental step in their lives I still have days I want to give up and find a normal job with regular hours and a paycheck every week and vacations and other benefits that companies provide for their employees.

Home With Acreage In The Country With Easy Commute

Last week I had the pleasure of listing a wonderful property for a couple who I met several years ago my first year in real estate. I must say they are some of the nicest folks I know. When I first met the woman she promised I was her Realtor® for life. She has kept that promise for almost 7 years now and 3 property sales so far. This will be #4. They bought a home late last year and had one to sell but did not have to sell to buy so they bought, took their time moving and then before they listed they wanted to ensure their old home was ready for new owners so everything is in tip top shape and all someone will need to do is roll their moving truck up to the door and move in. 
This property is located in the small town of Blaine which is in Grainger County, Tennessee. It is located at 507 Brandi Lane approximately 1 mile off  US Hwy 11W, Rutledge Pike and less than 15 miles from I-40 making it an easy commute to Downtown Knoxville. It is also conveniently located for a quick drive to Jefferson, Sevier, Hamblen and Union Counties.

507 Brandi Lane, Blaine, TN 37709
$245,000
MLS # 874878

Brought to you by Brenda Jolly of Slyman Real Estate, 150 Center Park Dr Suite 200 , Knoxville, TN 37922

This home sits on 12.76 acres near the end of a dead end road. Ideal for anyone who might want a small farm. Bring your horses, chickens, and cattle. There's plenty of room to grow a garden. There is a fenced area adjacent to the front porch where pets can go outside without supervision. Wildlife is abundant and deer can be seen often. Front porch perfect for rocking chairs with views of the countryside. Recent survey (2009) shows neighboring fence on property and is in process of being moved over as can be seen if you walk the acreage. From the pinnacle of the acreage panoramic views of House Mountain, the Clinch Mountains and the Smokies. There is 1,267 feet of road frontage and the entire 12.76 plat is made up of 2 lots, #18 and #19 lot. (lot#18 is 7.22 and lot# 19 is 5.54 acres). You could build a second home or put a double wide with a permanent foundation on lot #18 as an option. 

There is a detached 1500 Sq Ft garage / workshop. It has 12 ft ceilings, a 10 and an 8 ft garage door with openers on the front side and a 10 ft roll up door on the back as well as 2 entry doors. There is additional storage space in a separate 12X16 ft storage shed with a lean to shelter for your tractor. The home is approximately 1352 Sq Ft with 3 bedrooms, 2 full baths, a huge living room with woodburning fireplace, large eat in kitchen as well as a separate dining room. Suffer from allergies? No carpet here to aggravate those allergies. Laminate installed in living room and bedrooms in 2006 when home was extensively remodeled. There is a stone fireplace, faux wood blinds throughout, new kitchen cabinets  and counter tops, ceiling fans in all bedrooms, livingroom and dining room, a DSC Alarm system. Water heater was replaced in 2009. New Pella double hung vinyl windows which have a transferable warranty were added in 2010. Extra insulation under the floors was added  in 2013. Interior was painted in 2013 and exterior in 2012. Smooth top range and side by side refrigerator will convey with home. The home is on a crawlspace with stone veneer. According to a previous listing the home structure was moved to this property from another location but the home is a stick built home. Tax records show the home as being built in 1998 but seller believes it may have been built earlier based on the styling of the character of the home.  

If you would like more information about this property or would like to view it you may contact Brenda Jolly anytime. If you are working with a buyers agent you may have your agent contact me or my office to set up a showing. 

Brenda Jolly
Slyman Real Estate 

Direct: 865-898-7896

Email: bgj31054@bellsouth.net
Office: 865-862-6161

 

 

           

Images of East Tennessee - Great Smoky Mountain National Park

                        Great Smoky Mountains National Park Cade's Cove

                                      

                              Great Smoky Mountains National Park - Clingman's Dome  

                                                 Photo's by Brenda Jolly 2013                

Real Estate Glossary

                                                                                                                      

Listing Agreement: A contract between seller and Real Estate Broker spelling out the terms of the listing. It should include a list date and a expiration date and compensation agreement. It will also include an Agency Agreement.

Comparative Market Analysis or CMA: An examination of the prices at which similar properties in the same area recently sold. Real estate agents may prepare a comparative market analysis for their clients to help them determine a price to list when selling a home or a price to offer when buying a home. Since no two properties are identical, agents make adjustments for the differences between the sold properties and the one that is about to be purchased or listed to determine a fair offer or sale price.     
                 
Absorption Rate: The rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the average number of sales per month. The figure shows how many months it will take to exhaust the supply of homes on the market. A high absorption rate may indicate that the supply of available homes will shrink rapidly, increasing the odds that a homeowner will sell a piece of property in a shorter period of time.

Average Days on Market or DOM: The number of days a listing is active in a multiple listing service before it is entered into "pending" status. Pending status is when an offer has been accepted by the seller but the transaction is not yet closed. Many agents refer to "average days on market," which is derived by adding all the days on market of each listing and dividing by the number of listings. In a buyer's market, the DOM are generally higher because inventory takes longer to sell. In a seller's market, the DOM are fewer.

Realtor Commission: This is a percentage or an amount that you and the real estate agent/broker agree on when the property is listed and that you agree to pay when your property is sold. There is no set percentage. All commissions are negotiable. Your listing agent will then share a percentage of that to a cooperating agent should another agent bring a buyer.

Binding Agreement Date:  This refers to the date when an offer to buy is accepted and all parties (Buyers and Sellers) have signed and accepted the price and terms of an offer to buy.

Buyers Representation Agreement:  This is an agreement between a buyer and an agent/broker in which the buyer is agreeing to work exclusively with a particular agent/broker. In order to have a Buyers Representation Agreement the buyer and the agent must have a written agreement. Once a buyer enters into a Buyers Rep Agreement they are agreeing to let their agent schedule all showings for them and they are agreeing to pay the agent at closing whether through the cooperating commission paid by seller or out of pocket.  Depending on what is agreed to in the agreement the buyer may owe their agent additional commission should the cooperating commission be less than that agreed upon to pay. This agreement serves both the buyer and the agent in that it obligates both buyer and agent to certain due diligence behaviors and loyalty in the transaction. If the buyer goe to an open house or calls another agent about a property other than their agent they should let other agents they come in contact with know that they are in a Buyers Rep Agreement with another agent and provide their agents name. Should a buyer use another agent when they are under a Buyers Agreement they may wind up paying their agent at closing out of their pocket as well as the agent with whom they did not have the agreement . Buyers should always be aware of what they are signing and they should always get a copy of everything they sign.