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.
                                                    
  

You've Found The Perfect Property...Now What? Part 1

You've found that perfect home....now what? Once the offer is negotiated and you have a binding contract your next step will be to employe a good home inspector to inspect the home and tell you what you can expect as the new home owner and also let you know if there is anything going on with the home that could have an adverse affect on the value of the home. He will look at the electrical and plumbing, walls, windows, roofing, in the rafters and the crawl space areas. The reason for this is to make sure there are no major problems going on that the seller may not have disclosed and maybe not even been aware of themselves. Sometimes some of these repairs can be negotiated to be fixed prior to closing and sometimes repairs are not an option and you as a buyer have to make a decision whether to accept the home as is with the knowledge that you will have to make certain repairs yourself after closing or make he decision to withdraw from the contract and ask for your earnest money back and find something else. Keep in mind, unless required by the lender in order to fund the loan the seller is under no obligation to make the repairs. The home inspection as with all inspection are for the buyers benefit so that they are making an informed decision in the buying process. Next up...Making an Offer.

Days To Remember

Everyone has days in their life that are life altering, days that make such an impression you never forget them. It may be a happy event, a shocking event or something tragic but none he less something about it causes it to be more prominent a memory in your mind. Not an ordinary day.  November 22, 1963 was such a day. Most people can tell you about that day in their lives. What they were doing, the emotions of the day. 9/11/2001 was another such day. The day Dale Earnhardt died was another. All these days impacted so many lives as well as the closest family members in a way that they would never forget the memories. While these days are associated with tragedy not all days that we remember so vividly are. Other days that many people remember are the birth of a child, a wedding day, the day you accepted Christ as your Lord and Savior as well as others.  Sometimes it is even an otherwise seemingly ordinary day but something about it causes it to be a special memory. 

Why do some days and events leave such vivid memories? I don't think this is an question that really has an answer. The human mind is so complex one can never know what triggers these memories. 

I for example have a vivid memory from my childhood where I couldn't have been more than a toddler and it involves a house where we lived and the memory of brushing our teeth on the back porch because we did not have an indoor bathroom back then. Another memory that has molded who I am today is when I was little we went to visit our great grandparents one time and my great grandfather was ill. I did not give him a hug and kiss when we left because I was so shy and backward and that was the last time I saw him alive. I always felt sad because it would have been so easy to have given him that hug and kiss. It was my loss. Because of that situation I make it a point to always make sure the people I love know it. 

Camping in late October

Here we are camping at the lake on a cold October weekend. Temperatures are in the 30's. Seems just last week it was warm and sunny and in the 80's . Gotta love East Tennessee weather .  Flannel sheets on the bed and fleece pjs to keep me warm. Molly our little Boston is snuggled in her bed under the dining table. I'm sure she would love it if she could sleep at the foot of our bed but my allergies won't allow it. I'm not the sleep with your dog type either. Sorry dog lovers. Just not my style.

In the morning the plan is to have breakfast and them sit outside and enjoy sitting by a cozy campfire and relax. Can't wait! We haven't had a campfire in a long time. Seems we never have time for fun stuff and relaxing anymore. 

Time to get some sleep.... More to come soon.

The Pout Pout Fish and The Big Big Dark (Song) - Gordon True

The Pout Pout Fish in the Big Big Dark written by Deborah Deisen, illust...

Realtor.com Reports:
The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country. These figures include condos and co-ops, in addition to single-family homes.

Latest News

WASHINGTON (April 22, 2013) –– Existing-home sales eased in March from inventory constraints, which continued to pressure home prices, according to the National Association of Realtors®.
Read the entire press release
View supplemental market data (Excel: 15KB)

Next release: Existing-Home Sales for April is scheduled for May 23, 2013

Overview

Current sales rates, actual totals and median prices by month going back 12 months. Annual totals for three years. Includes all existing-home sales — single-family, condos and co-ops — rolled into monthly and annual totals. This file contains figures for the nation and four regions. It does not contain breakouts.
Existing-Home Sales Overview Chart for Printing (PDF: 46KB)
Existing-Home Sales Overview Chart for Database Work (MS Excel: 36KB)
Map of Existing-Home Sales Regions

Breakouts of Single-family, Condo and Co-op

Figures for the nation only — includes total existing-home sales, single-family sales and condo/co-op sales — seasonally adjusted and actual. Months supply by category also included. Median and average sales prices for all existing-home sales, for single-family sales and for condo-co-op sales.
Total Sales With Breakouts of Single-family and Condo/Co-op for Printing (PDF: 35KB)
Total Sales With Breakouts of Single-family and Condo/Co-op Spreadsheet for Database Work (MS Excel: 35KB)

Single-Family Existing-Home Sales and Prices

Current single-family existing-home sales rates, actual totals and median prices by month for 12 months. Annual totals for three years. Figures for the nation and four regions.
Single-Family Only for Printing (PDF: 45KB)
Single-Family Only Spreadsheet for Database Work (MS Excel: 37KB)
Map of Existing-Home Sales Regions

Condo and Co-op Sales and Prices

Current condo and co-op sales rates, actual totals and median prices by month for 12 months. Annual totals for three years. Figures for the nation and four regions.
Condo/Co-op Only for Printing (PDF: 45KB)
Condo/Co-op Spreadsheet for Database Work (MS Excel: 36KB)
Map of Existing-Home Sales Regions

Seasonally-Adjusted Historical Files

Each February, NAR Research incorporates a normal review of seasonal activity factors and fine-tunes historic data for the past three years based on the most recent findings. Revisions have been made to monthly seasonally adjusted annual sales rates for 2010 through 2012, as well as the inventory month's supply data; most revisions are minor with little or no impact on previous characterizations of the overall market. There are no revisions to monthly home prices (single family and condo) or to raw inventory data (beyond normal prior-month revisions).
Seasonally-Adjusted Historical Files (MS Excel: 28 KB)

Historical Data

To purchase historic information, e-mail your request to data@realtors.org. An NAR Research representative will get back to you shortly.

Brenda Jolly | Slyman Real Estate | (865) 862-6161 980 Sencebaugh Dr, Sevierville, TN 3BR/2.0BA Single Family offered at $179,900 Year Built 1974 Sq Footage 2,417 Bedrooms 3 Bathrooms 2.0 Floors 1 Parking 1 Garage - Attached Lot Size 274,428 sq ft description Your own private retreat. Chalet style home on wooded acreage near the Smokies. Listen to the stream as you relax on the wraparound deck. Home features wood burning fireplace, barnwood accented walls and built-ins, exposed wood beams. Home has 3 bedrooms and an office or bonus room,lots of closet storage. Recently updated, newly painted and move in ready. Woodstove and workshop area in unf basement. 1 year home warranty provided by sellers at closing. see additional photos below property features - Fireplace - Ceiling fans - Deck - Lawn - Patio - Vaulted Ceilings additional photos At Creek Winter view Fall Fall View From Balcony Beamed Ceilings Workshop Area in Basement Office View Basement with Wood Stove Nights on the Private Deck Contact info:   Brenda Jolly Slyman Real Estate (865) 862-6161 Posted: March 10, 2013