3444 Mountain Tyme Way, Sevierville, TN

OFFICE PHONE: 865-774-7764
eMail: info@easttnexperts.com

We service ALL areas of East Tennessee!
We can also show and sell ANY property in Tennessee!

Our Featured Properties

Wednesday, September 22, 2010

10 Reasons to buy NOW

Here are 10 valid reasons to buy RIGHT NOW

  1. GOOD DEALS ARE EVERYWHERE! No matter which direction you look, you will find a good deal. Prices and interest rates are at all time lows and the inventory is up. You don't have to look very far to find a good deal. Let East Tennessee Realty Group find it for you.
  2. When have mortgage rates been so low? Two years ago rates were around 6.3%! Now you can get a 30 fixed for under 4%.
  3. Tax Savings - Yes, I said tax savings! Mortgage interest payments are tax deductible.
  4. It's all yours! No landlords and you can renovate or remodel the way you want and put "you" in to the house you have always wanted!
  5. You get a better home. Some rentals are not the best properties to live in and not all landlords really care about their properties as they should.
  6. Inflation Protection - Studies have shown that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That's what we call inflation insurance.
  7. It's Risk Capital. No, your home isn't the stock market and you shouldn't view it as the way to get rich. Real estate prices will head up again. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities - for practical as well as psychological reasons. Equity in a home is another way of linking part of a portfolio to the long-term growth of the economy.
  8. It's Forced Savings If you can rent an apartment for $2,000 a month instead of buying one for $2400 a month, renting may make sense. Will you save that $400 in the future? Most people won't. You have to do the math! The part of your mortgage payment that goes to principal repayment isn't a cost. You're paying yourself by building equity. As a forced monthly savings, it's a good discipline.
  9. So many to choose from Most of the country is seeing a glut of inventory and according the NAR the current inventory is around 4 million homes for sale. Great choice at great prices!
  10. The Market will clear Supply and Demand will eventually meet and the good deals may be no more.

Long story short, now is the time to jump in and make that purchase! With over 4 million properties on the market, there is at least one out there with your name on it and any one of our skilled agents can help you locate it! Give us a call today 865-774-7764 info@easttnexperts.com

ETRG hosts Keep Sevier Beautiful Roads/Rivers Clean Up day

In keeping with the tradition started several years ago at East Tennessee Realty Group, the Fall Keep Sevier Beautiful Roads to Rivers clean up day was hosted at East Tennessee Realty Group office in Wears Valley.

This event brought in a total of 15 volunteers and over 45 bags of garbage collected from the road sides of Wears Valley. Volunteers were treated to a complimentary lunch consisting of BBQ sandwiches, chips, and a drink. Lunch sponsors include Roger Meier and Dave Bryan - Smoking Pig BBQ at Wears Valley Farmer's Market, Tennessee State Bank (Wears Valley Branch), and ETRGs own Michele Bryan and Jerry Sandifer.

A recent Facebook posting from Owen Poveda stated that one of his buyers commented on the cleanliness of the Wears Valley community while looking at property here last week. Thanks Owen!

The residents of Wears Valley along with East Tennesse Realty Grouop puts great emphasis on the appeal of the community and several roads have been adopted through an effort of East Tennessee Realty Group to keep the roads in Wears Valley litter free year round.

Here is a message from a group of dedicated volunteers:

video

Monday, August 16, 2010

Another satisfied ETRG client


The Chapmans closed on this property 20 days early!



The Chapmans operate a Christian camp in Smithville, Tennessee (www.lighthousechristiancamp.com).

When they walked into our office they were only looking for vacant property to park their RV on when in Sevierville.After looking at several properties they decided the best route to take was to purchase a foreclosure house that they could rehab the way they wanted.

On the second trip to Sevierville from Smithville and two days of looking they found their hidden treasure with the help of their agent, Michele Bryan...a home in the Strawplains area with more than enough room to accomodate their RV and would also allow them to bring along ranch guests from time to time.

This great price at $62,000 was hard to pass up! This home has 5 bedrooms in the main house, a den, and separate living room. There is a separate one bedroom apartment/rec room with adjoining two car garage, and additional garage/storage.

They love the property, were tickled pink with Town and Country Title for closing 20 days early, and now will be working on the rehab of their new found treasure!

We would love to help you find your hidden treasure!

Call us today at 865-774-7764 (888-662-3874 Toll Free) or visit our website at http://www.easttnrealtygroup.com/
Any one of our well qualified agents will be happy to assist you with all of your real estate needs and answer any questions you have.

Thursday, April 29, 2010

The Social Media Revolution

After attending a Social Networking seminar in Knoxville, Tennessee yesterday I find myself sitting here at 2 am trying out all the ideas they passed along to us at the seminar.
The real estate world has truly evolved from old school print ads to total online marketing media.
Who knew 20 years ago that magazines and newspapers would transform into something so small as an iPhone!
Blogs, FaceBook, LinkedIn, and all the others are the new resources for cutting advertising costs in such a tight economy.
I can't wait for new apps to be released!

Monday, March 22, 2010

ETRG Hosts Wears Valley Clean Up Day

East Tennessee Realty Group hosted another successful Wears Valley Clean Up day in conjunction with non-profit organization, Keep Sevier Beautiful.


















This has been the best participation thus far and we are already looking forward to the next clean up this coming fall.



Participants were treated to a free lunch sponsored by Tennessee State Bank and Wears Country Market.

















Hamburger and Hot Dogs were the meal of the day for all tired and hungry participants.



















The free lunch was prepared by East Tennessee Realty Group's own Lloyd Terry, Michele Bryan, Barbara McDonald, and ETRG Co-Owner, Jerry Sandifer.


























ETRG Broker & Co-Owner, Fran Troxler was hard at work making sure every participant recieved the credit due them for all their hard work!





















Mrs. Nell O-Connell from Wears Valley Antiques participated by driving her Gator around Wears Valley collecting all the bagged garbage from the participants. She made several trips bringing garbage back to ETRG's office where it was collected on a utility trailer for transport to the local convenient center.





















True partners in grime!






























Local Wearwood 4-H students participated in the valley wide clean up and received credit for their 4-H club.













































Ealry morning sign up






















ETRG Co-Owner and Principal Broker, Fran Troxler explains the Adopt-an-Area plan to interested residents.





















Several residents agreed to adopt an area in their nieghborhood and pledged to keep in clean year round.





































Everyone is encouraged to participate in the upcoming Fall clean up yet to be scheduled.


Together we can make a difference!





Read the article in the local Mountain Press newspaper.




Wednesday, February 24, 2010

ETRG Sale-A-Bration! Congratulations to Jerry Sandifer!

East Tennessee Realty Group congratulates it’s very own Jerry Sandifer, co-owner, on his million dollar sale of property in Wears Valley!

 

Despite several stumbling blocks in his path, Jerry persevered straight to the closing table with his buyers.

 

The entire East Tennessee Realty Group family along with the Town and Country Title crew surprised Jerry with a celebratory lunch at the Chop House restaurant in nearby Sevierville.

 

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Monday, February 22, 2010

East Tennessee Realty Group; Now HUD Certified

What is a HUD Property?

Are you interested in HUD property but aren’t quite ready to purchase? 

Maybe you want some assistance and information about the following:

·         Personally viewing HUD properties

·         Submitting a bid on a home or preparing to purchase a home

·         Understanding how the buying process works

 

Allow us to clarify some things first.

People think that buying a HUD home is as simple as finding one they like online and buying it…Not true. People also think that HUD forecloses on properties thus resulting in HUD foreclosures…Not true.

 

First of all you should know that HUD does not foreclose on homes.

 

There are no HUD foreclosures despite the advertisements you see floating around. 

There are HUD owned properties. Sorry to be the bearer of bad news.

 

Truth;  a home becomes a HUD Home because someone that had a FHA Insured loan, defaulted on the loan from their lender (not HUD) and was foreclosed by their lender, not HUDThe lender in turn collects from FHA (Federal Housing Administration) any losses they incurred from foreclosing. 

 

FHA is part of HUD.  But FHA only insures mortgages.  They are not a lender.  HUD in turn eventually gets the deed to the property and offers it for sale to the general public after much red tape is gone through, typically taking from 8 to 12 months. 

 

Understanding HUD owned properties

If the house you are interested in is a HUD owned property, it was last purchased with a Federal Housing Administration (FHA) insured mortgage.  The Federal Government insured the loan and agreed to repay the lender for all money lost if the property is foreclosed on. This made the previous mortgage possible.  The Federal Government protects itself by

collecting a mortgage insurance premium at the time of purchase of a FHA insured home.  The MIP rate is typically 2.25% of the financed amount and helps the buyer reduce their initial out of pocket expense to as little 3% of the purchase price, making it possible for many more buyers to buy homes.  This mortgage insurance premium is combined with the monthly mortgage payment.

 

 

Benefits to buying a HUD owned property:

·                     No Appraisal required

·                     Instant equity

·                     Flexible Credit requirements

·                     Low money down.

·                     HUD will pay all closing costs. (Up to 5% in some states)

 

The flip side of the coin

HUD homes have typically been vacant for the length of time it takes them to get the deed which,

as previously mentioned, could be as long as 12 months.  During this time the property has sat without any utilities being on such as heat and air or water.  This is one reason all HUD homes are sold “as is” with no condition warranties at all.  That said, should repairs be necessary there is a

FHA program available for buyers that will allow for up to $5,000 in repair costs through a program called FHA 203K rehab loan program.

 

 

Two types of properties offered through HUD:

 

Insured Properties:

 

HUD’s preliminary inspections and appraisals indicate that there is less than $5,000 in repairs needed for the property to meet HUD’s minimum property standards.  This is important because you need to know that the minimum property

standards are, in fact very minimum.

 

Un-insured Properties:

 

These homes need more than $5,000 in repairs and often need $10,000 to $20,000 or more.   This is where the

FHA 203k rehab loan comes into play.  A good qualified lender, experienced in FHA financing can help you with this.

The interest rates and the amount of loan discount points are usually a little higher than a standard FHA loan, but you

can often buy these properties at significant, below market prices if you are willing to put up with the higher fees and

the hassle of making the repairs.

As a HUD Certified Selling Agency we can show and sell any property in the state of Tennessee.  Contact us today! 

865.774.7764 Local    

888.662.3874 Toll Free

www.easttnexperts.com

info@easttnexperts.com

 

 

 

 

 

 

 

Friday, February 19, 2010

Monday, January 25, 2010

New IRS tax credit forms and instructions

www.easttnexperts.com
WASHINGTON — The Internal Revenue Service today released the new form that eligible homebuyers need to claim the first-time homebuyer credit this tax season and announced processing of those tax returns will begin in mid-February. The IRS also announced new documentation requirements to deter fraud related to the first-time homebuyer credit.
The new form and instructions follow major changes in November to the homebuyer credit by the Worker, Homeownership, and Business Assistance Act of 2009. The new law extended the credit to a broader range of home purchasers and added new documentation requirements to deter fraud and ensure taxpayers properly claim the credit.
With the release of Form 5405, First-Time Homebuyer Credit and Repayment of the Credit, and the related instructions, eligible homebuyers can now start to file their 2009 tax returns. Taxpayers claiming the homebuyer credit must file a paper tax return because of the added documentation requirements.
The IRS expects to start processing 2009 tax returns claiming the homebuyer credit in mid-February after it completes the updating and testing of systems to meet the law’s new requirements. The updates allow the IRS to put in place critical systemic checks to deter fraud related to the homebuyer credit.
Some of these early taxpayers claiming the homebuyer credit may see tax refunds take an additional two to three weeks.
In addition to filling out a Form 5405, all eligible homebuyers must include with their 2009 tax returns one of the following documents in order to receive the credit:
A copy of the settlement statement showing all parties' names and signatures, property address, sales price, and date of purchase. Normally, this is the properly executed Form HUD-1, Settlement Statement.
For mobile home purchasers who are unable to get a settlement statement, a copy of the executed retail sales contract showing all parties' names and signatures, property address, purchase price and date of purchase.
For a newly constructed home where a settlement statement is not available, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate.
In addition, the new law allows a long-time resident of the same main home to claim the homebuyer credit if they purchase a new principal residence. To qualify, eligible taxpayers must show that they lived in their old homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home. The IRS has stepped up compliance checks involving the homebuyer credit, and it encouraged homebuyers claiming this part of the credit to avoid refund delays by attaching documentation covering the five-consecutive-year period:
Form 1098, Mortgage Interest Statement, or substitute mortgage interest statements,
Property tax records or
Homeowner’s insurance records.
The IRS also reminded homebuyers that the new documentation requirements mean that taxpayers claiming the credit cannot file electronically and must file paper returns. Taxpayers can still use IRS Free File to prepare their returns, but the returns must be printed out and sent to the IRS, along with all required documentation.
Normally, it takes about four to eight weeks to get a refund claimed on a complete and accurate paper return where all required documents are attached. For those homebuyers filing early, the IRS expects the first refunds based on the homebuyer credit will be issued toward the end of March.
The IRS encourages taxpayers to use direct deposit to speed their refund. In addition, taxpayers can use Where's My Refund? on IRS.gov to track the status of their refund.
More details on claiming the credit can be found in the instructions to Form 5405, as well as on the First-Time Homebuyer Credit page on IRS.gov.

The National Association of Realtors

Updated Real Estate Foreclosure List

Click here to go to the foreclosure list.

For more information about these or any other property call East Tennessee Realty Group at 865.774.7764

www.easttnexperts.com

Friday, January 1, 2010

Five mistakes that make house flipping a flop

Do your research and make sure you have what it takes before you try to turn a profit with real estate.

By Lisa Smith of Investopedia

Five mistakes that make house flipping a flop (© Myron Jay Dorf/Corbis)

more on Investopedia.com

·         7 tips on buying a home in a down market

·         6 tips on selling your home in a down market

·         Home renovations that don't pay

House flipping has become the day tradinghttp://images.intellitxt.com/ast/adTypes/2_bing_11pxw.gif of the 2000s. But in the rush to make a profit, far too many would-be real-estate moguls overlook the basics and end up failing. Here are the five biggest mistakes investors make in this market and how to avoid them.

1. Not enough money
Dabbling in real estate is an expensive proposition. The first expense is the property acquisition cost. While low- and no-money-down financing claims abound, finding these deals from a legitimate vendor is easier said than done. Also, if you're financing the acquisition, that means you're paying interest. Although the interest on borrowed money is tax deductible, it is not a 100% deduction. Every dollar spent on interest adds to the amount you will need to earn on the sale just to break even.

Paying cashhttp://images.intellitxt.com/ast/adTypes/2_bing_11pxw.gif eliminates the interest, but even then, there are costs to holding a property, such as taxes and utilities. Renovation costs must also be factored in. If you plan to fix the house up and sell it for a profit, the sale price must exceed the combined cost of acquiring the property, holding it and renovating it. Even if you overcome these hurdles, don't forget about capital gains taxes, which will chip away at your profit.

Read:  House flipping makes a comeback

2. Not enough time
Renovating and flipping houses is time-consuming. It can take months to find and buy the right property. Once you own the house, you'll need to invest time to fix it up. Before you can sell it, you'll need to schedule inspections to make sure the property complies with applicable building codes. If it doesn't, you need to spend more time and money to bring it up to par. Next, you'll need to invest time to sell the property. If you show it to prospective buyers yourself, you'll spend plenty of time commuting to and from the property and meeting with potential buyers.

If you are able to make a 10% profit on a house that cost $50,000, you'll make a $5,000 profit. For many people, it might make more sense to get a good job, where they can earn that kind of money in a few weeks or months via a steady paycheck -- with no risk and a consistent time commitment.

Bing

House-flipping tips for beginners

3. Not enough skills
Professional builders and skilled professionals, such as carpenters and plumbers, often flip houses as a sideline to their regular jobs. They have the knowledge, skills and experience to find and fix a house. Some of them also have union jobs that provide unemployment checks all winter long while they work on their side projects.

The real money in house flipping comes from sweat equity. If you're handy with a hammer, enjoy laying carpet, can hang drywall, roof a house and install a kitchen sink, you have the skills to flip a house. On the other hand, if you have to pay a professional to do all of this work, the odds of making a profit on your investment will be dramatically reduced.

House Flipping Back?

View more MSN videosGo to CNBC

4. Not enough knowledge
To be successful, you need to be able to pick the right property, in the right location, at the right price. In a neighborhood of $100,000 homes, do you really expect to buy at $60,000 and sell at $200,000? The market is far too efficient for that to occur frequently.

Even if you get the deal of a lifetime, you need to know which renovations to make and which to skip. You also need to understand the applicable tax laws and know when to cut your losses and get out before your project becomes a money pit.

5. Not enough patience
Professionals take their time and wait for the right property. Novices rush out and hire the first contractor that makes a bid to address work they can't do themselves. Professionals either do the work themselves or rely on a network of prearranged, reliable contractors.

Novices hire a real-estate agent to help sell the house. Professionals rely on "for sale by owner" efforts to minimize their costs and maximize profits. Novices expect to rush through the process, slap on a coat of paint and earn a fortune. Professionals understand that buying and selling houses takes time and that the profit margins are sometimes slim.

Bottom line
Before you get involved in flipping houses, do your research. Like any other business venturehttp://images.intellitxt.com/ast/adTypes/2_bing_11pxw.gif, flipping requires time, money, patience and skill, and it will definitely be more difficult than you imagined.