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The Mountain Girls @ Keller Williams Realty Blog

Monday, December 11, 2017   /   by Carlyn Voges

Why Getting Pre-Approved Should Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate profes ...

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  real estate, realtors, homeownership, pre approval

Friday, December 01, 2017   /   by Carlyn Voges

The Cost of NOT Owning Your Home

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.
Zillow recently reported that:

“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”

What proof exists that owning is financially better than renting?
1. We recently highlighted the top 5 financial benefits of homeownership:

Homeownership is a form of forced savings.
Homeownership provides tax savings.
Homeownership allows you to lock in your monthly housing cost.
Buying a home is cheaper than renting.
No other investment l ...

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  real estate, rent, homeownership

Friday, November 10, 2017   /   by Carlyn Voges

Low Inventory Causes Home Prices to Maintain Fast Growth

The National Association of Realtors (NAR) released their latest Quarterly Metro Home Price Report last week. The report revealed that severely lacking inventory across the country drained sales growth and kept home prices rising at a steady clip in nearly all metro areas. Home prices rose 5.3% over the last quarter across all metros.


Lawrence Yun, Chief Economist at NAR, discussed the impact of low inventory on buyers in the report:




“Unfortunately, the pace of new listings were unable to replace what was quickly sold. Home shoppers had little to choose from, and many had to outbid others in order to close on a home. The end result was a slowdown in sales from earlier in the year, steadfast price growth and weakening affordability conditions.”



What this means to sellers


Rising prices are a homeowner’s best friend. As reported by the Washington Post in a recent articlepost:




“The ...

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  realtors, real estate

Thursday, October 26, 2017   /   by Carlyn Voges

How to Save on a Mortgage Payment Whether Buying or Selling

In Trulia’s recent report, Rent vs. Buy: Roommate Edition, they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. The study explains:

“Since we started keeping track in 2012, it’s been a better deal to buy than rent in America’s largest housing markets – and for much of that time it hasn’t been close.”

It then goes on to ask the question:

“But does the equation change for renters who share their rent with a roommate?”

The report reveals:

“While the standard rent vs. buy analysis reveals buying is cheaper than renting in all of the nation’s 100 largest metros, this doesn’t hold true for those choosing between renting with a roommate and buying a starter home.”

It seems obvious that sharing the cost of renting your living space by taking in a roommate dramatically decreases your housing expense (which is ex ...

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Friday, October 06, 2017   /   by Morgan Bussey

Will selling your home by yourself save you money?

One of the main reasons why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission an agent charges for getting their house on the market and selling it. A new study by Collateral Analytics, however, reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.


In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:




“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)



Why would FSBOs net less money than if they used an agent?


The study makes several suggestions:





“There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers t ...

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  fsbo, realtors

Keller Williams Greater Downtown Realty
The Mountain Girls
202 Manufacturers Road
Chattanooga, TN 37405
423-228-0229
423-664-1350
Angela Sherlin
Branch Manager
NMLS # 178862
GA# 31563
6148 Lee Highway Suite 101
Chattanooga, TN 37421
Branch NMLS# 1518270.
(423) 421-7900

© 2018 CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender, Georgia Residential Mortgage Licensee #15438. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and www.nmlsconsumeraccess.org.
Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
Last updated December 15, 2018 Copyright © 2018

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