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Education • October 26, 2024

Selling Your Home During the Holiday Season: A Guide to Making It Work

by Jennifer Knolton

Selling a home during the holiday season might seem challenging, but it can be a great opportunity! With less competition on the market, holiday listings often stand out, catching the eye of motivated buyers. Here’s how to make the most of the holiday season to ensure your home sells quickly and for the best possible price.

1. Embrace Seasonal Décor (But Keep It Minimal)

Holiday décor can create a warm, inviting atmosphere that showcases your home’s potential. However, it’s essential to keep decorations subtle. Go for a few tasteful touches like a holiday wreath, cozy lighting, or a simple garland. Avoid oversized decorations that might make your space feel smaller, and remember to remove any personal holiday items that may distract buyers.

2. Make Your Home Cozy and Inviting

Since buyers may be braving chilly weather to tour your home, set the scene with warmth. Ensure the temperature is comfortable, add soft lighting, and create cozy spaces where potential buyers can envision themselves spending time. Adding scented candles with soft, neutral scents, like vanilla or cinnamon, can enhance the ambiance without overwhelming visitors.

3. Prioritize Curb Appeal

Winter weather can make curb appeal challenging, so pay special attention to the exterior. Clear away any fallen leaves, keep walkways shoveled if it’s snowy, and add simple outdoor lighting to make your home look warm and welcoming. Adding a festive wreath or some small string lights can make a big difference in making a memorable first impression.

4. Adjust Your Selling Strategy for Holiday Schedules

The holiday season is often busy, so work with a real estate agent who understands how to navigate this time of year. Setting up flexible showing times, including virtual showings, can help accommodate holiday schedules.

Consider timing your open houses around common holiday downtime—like the weekends between Thanksgiving and Christmas—to reach motivated buyers while they’re already out shopping or traveling.

5. Be Flexible with Negotiations

Because there are fewer listings in winter, many buyers who are actively searching are serious about purchasing. This could work to your advantage in negotiations, as these buyers often want to settle quickly. Be prepared to discuss closing timelines and potentially include holiday incentives, like covering closing costs, to make the offer appealing.

6. Highlight Your Home’s Winter Readiness

Buyers want a home that’s comfortable in all seasons. Show them how yours stands up to winter weather. Highlight features like energy-efficient windows, a new furnace, or a cozy fireplace. These details reassure buyers that your home is ready for year-round comfort.

7. Price it Right

The holiday season is unique because there are generally fewer homes on the market. Work with your real estate agent to price your home strategically. Pricing it right the first time will generate interest and help you attract serious buyers looking for a home during this season.

8. Promote Online and With Professional Photos

Many buyers are browsing online listings during the holiday season, so it’s essential to have high-quality photos and a well-crafted listing description. Professional photos can showcase the warmth and charm of your home and help it stand out in search results. Since holiday traffic often comes from mobile devices, ensure that your online listing is optimized for mobile viewing.

Selling during the holidays offers unique advantages, and with the right approach, you can close a successful sale before the new year! By balancing seasonal charm with a strategic approach, you can position your home to attract motivated buyers who are serious about finding their dream home.

#HolidayHomeSelling #HomeSellingTips #WinterHomeSales

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Education • October 23, 2024

What to Expect During a Home Inspection: Setting Realistic Expectations

by Jennifer Knolton

When buying a home, one of the most important steps in the process is the home inspection. This inspection is designed to give buyers a clear understanding of the property’s condition, but it’s important to set realistic expectations. Here’s what you need to know:

1. Not Everything Will Be Perfect

No home is flawless, especially older homes. Expect the inspector to find a range of issues, from minor cosmetic imperfections to larger structural concerns. Keep in mind that even newly constructed homes might have a few items needing attention. The key is to focus on significant issues that impact safety or functionality.

2. The Inspector Won’t Catch Everything

While home inspectors are trained to spot potential problems, they cannot see behind walls, under floors, or through ceilings. Inspections are typically visual, meaning the inspector will identify what they can access and see. For example, hidden plumbing or electrical problems may go unnoticed if they aren’t visible.

3. Repairs Aren’t Always Guaranteed

A home inspection report will highlight areas needing repair or improvement, but that doesn’t mean the seller is obligated to fix everything. Negotiations may follow, and buyers can request repairs, but sellers may only agree to address major concerns like health or safety issues. Minor repairs are often up to the buyer to handle after closing.

4. You Can Ask Questions During the Inspection

Don’t hesitate to ask questions during the home inspection. It’s a great opportunity to learn about the home’s systems and maintenance needs. Inspectors can provide insights on how to care for specific components, helping you avoid future problems.

5. Inspections Don’t Include Everything

Home inspections typically cover key areas like roofing, foundation, plumbing, electrical systems, and HVAC. However, they may not include testing for pests, mold, or radon unless specifically requested. You may need additional specialized inspections for these concerns.

6. Follow-Up Inspections Might Be Necessary

If the inspector finds significant issues, such as foundation problems or roof damage, you may want to schedule follow-up inspections with specialists. This helps ensure you understand the full extent of any repairs or maintenance needed.

Conclusion

A home inspection is an essential step in the home-buying process, but it’s important to keep your expectations realistic. While inspectors provide valuable insights, they won’t catch everything, and not every issue will be fixed before closing. Use the information from the inspection to make an informed decision, and always remember that homeownership comes with its own set of responsibilities for future repairs and maintenance.

Ready to Start Your Home Search?

If you’re ready to begin your home-buying journey, I can help guide you through every step, from inspections to closing. Contact me today to get started!

#HomeInspectionTips #HomeBuyingJourney #RealEstateAdvice

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Education • October 9, 2024

Understanding Tennessee’s New Real Estate Buyer Broker Agreements: What You Need to Know

by Jennifer Knolton

Tennessee now has new rules for real estate agents who are members of the National Association of Realtors (NAR). One big update is about Buyer Broker Agreements. If you’re buying a home, it’s important to know how these changes affect you and how your realtor can help.

What is a Buyer Broker Agreement?

A Buyer Broker Agreement is a contract between you and your real estate agent. It explains what both of you will do during the home-buying process. This agreement makes sure your agent works for you, helping with things like finding homes, setting up showings, and negotiating deals.

What’s New in Tennessee?

The new rules aim to make things clearer for homebuyers. They help you understand the role of your agent and what services they offer.

Here are some key changes:

  • Defined Roles: The new agreement clearly says if your agent works only for you (exclusive) or if they can work with others too (non-exclusive).
  • Clear Pay Details: It also explains how your agent will be paid, whether by you or the seller. This helps avoid surprises.
  • List of Services: The agreement outlines what services your agent will provide, like searching for homes, scheduling tours, and negotiating offers.

Why Do You Need a Buyer Broker Agreement?

A Buyer Broker Agreement protects both you and your agent. It makes sure your agent is fully focused on helping you find the right home. It also makes sure your agent’s time and effort are respected.

The Role of Your Realtor

As your realtor, I am here to guide you and look out for your best interests. Here’s how I help:

  • Personalized Home Search: I find homes that match your needs and budget.
  • Strong Negotiation: I work to get you the best price and terms.
  • Step-by-Step Support: I guide you through the whole process, from your first home tour to closing day.

 

  • Ready to Buy Your Dream Home?

    If you’re ready to start your home search or have questions about Buyer Broker Agreements, contact me today! I’m here to help you make the best move possible.

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Education • October 2, 2024

Understanding Real Estate Agency Agreements in Tennessee: The Role of a REALTOR®

by Jennifer Knolton

If you’re considering buying or selling a home in Tennessee, it’s important to understand how real estate agency agreements work. These agreements define the relationship between you and your real estate agent. Knowing the basics helps you stay informed and ensures clear communication with your agent.

 

What is a Real Estate Agency Agreement?

A real estate agency agreement is a contract between you and a licensed real estate agent or brokerage. This contract explains what your agent will do for you, how they’ll be paid, and how they’ll represent you during the process. It sets expectations and protects both you and the agent.

 

Types of Agency Agreements in Tennessee

In Tennessee, there are different types of agency agreements. Let’s break them down:

  1. Seller’s Agent Agreement

In this agreement, the agent represents the seller. The agent’s job is to market the home, negotiate offers, and get the best deal for the seller.

  1. Buyer’s Agent Agreement

This agreement means the agent works for the buyer. The agent helps the buyer find a home, negotiates the price, and makes sure the buyer’s needs are met.

  1. Designated Agency Agreement

In Tennessee, a designated agent is appointed by their managing broker to represent only one party—either the buyer or the seller. Even if both parties use the same brokerage, each will have their own agent. This helps avoid conflicts of interest and ensures loyalty to their client.

  1. Dual Agency Agreement

A dual agency happens when one agent represents both the buyer and the seller. In this case, the agent must remain neutral and get permission from both sides. In Tennessee, dual agency must be fully disclosed.

  1. Facilitator (Transaction Broker) Agreement

A facilitator or transaction broker doesn’t represent either party but helps both complete the deal. This type of agent stays neutral and does not give specific advice to either the buyer or seller.

 

Key Parts of a Tennessee Agency Agreement

When you sign an agency agreement, keep these important details in mind:

  • Exclusive vs. Non-Exclusive Agreements: An exclusive agreement means you will only work with one agent. A non-exclusive agreement lets you work with more than one agent.
  • Compensation and Commission: This section explains how the agent will be paid, usually through a commission based on the sale price of the home.
  • Agent Responsibilities: The agreement will list what the agent will do for you, whether you’re buying or selling a home.
  • Time Frame: The agreement will include a time limit. Make sure it fits with your goals for buying or selling your home.

 

Why a Realtor is Important

A realtor’s knowledge of the Tennessee real estate market is valuable. They help with market trends, pricing, and legal details that might be hard to handle on your own. Realtors also make negotiations easier by acting as a middleman between you and the other party.

 

Conclusion

Understanding real estate agency agreements is key to a smooth transaction. Whether you’re buying or selling, a realtor can guide you through the process and ensure your needs are met.

If you’re ready to make a move in Tennessee, contact me today to learn more about the best agency agreement for you!

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Market Info • April 3, 2024

March Market Stats – West TN

by Jennifer Knolton

March Madness Hit Central West TN Housing… But Not How You Think!

Hey there, house hunters and home sellers! Buckle up, because we’re about to dissect March’s housing trends, and let me tell you, it wasn’t quite the bidding war frenzy of last year. Still hot, but with some twists!

Sellers, You’re Still in the Driver’s Seat:

March kept the seller’s party rolling. Homes are flying off the market, often for more than the asking price. Thinking of selling? Now’s your prime time to list!

But Here’s the Buyer Power Play:

Hold on, sellers, it’s not all sunshine and roses. Buyers are getting smarter. Bidding wars are a fading memory, and offers are landing closer to asking price. This is fantastic news – a balanced market means a smoother ride for everyone involved.

Your Game Plan for Winning:

  • Sellers: Let’s get strategic! Price your property competitively and highlight those unique features that make it stand out. Be ready to pounce on strong offers.
  • Buyers: Get pre-approved for a mortgage – it’s your golden ticket to acting fast when your dream home hits the market. Make a compelling offer, but don’t get carried away.

Want the Deep Dive?

This is just a taste of the action. Craving the full breakdown? I whipped up a detailed report with charts, graphs, and the inside scoop on everything from average sale prices to how long houses are lingering on the market. Check it out here: ]Market-Trends-Report-Mar-2024

Ready to Make Your Move?

The Central West TN market is still sizzling, whether you’re buying or selling. Thinking of making a move? Don’t wait! Let’s chat about your goals and turn your real estate dreams into reality. I’m here to guide you every step of the way.

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Market Info • April 3, 2024

The NAR Settlement: A REALTOR®’s Take

by Jennifer Knolton

If you’re not actively part of the real estate community, you might have missed the recent buzz. The National Association of Realtors’ proposed settlement to address a lawsuit by Sitzer/Burnett made headlines in The New York Times on March 15th. For those curious, a plethora of articles on this lawsuit are available online.

In essence, the lawsuit revolved around sellers feeling misled about paying a buyer’s agent and buyers assuming services were free. While this misconception may have lingered or even perpetuated by some, it is just not the case. Real estate professionals play a crucial role in bringing buyers and sellers together successfully. Additionally, their work does not stop there. There is an extensive list of services that they provide from contract to closing. Agents are then compensated for their professional services performed during the transaction. The seller covers their portion of the real estate fees, and in some cases, part of the buyer’s fee. If the seller doesn’t cover the full fee, the buyer is responsible for the difference if no all of their fees at the closing of the transaction.

The lawsuit settlement aims to bring positive changes to the industry by enforcing rules and enhancing transparency. Despite some challenges ahead, as a real estate professional, I am dedicated to guiding you through any obstacles. My commitment to offering valuable advice remains unchanged.

If you have questions about the settlement or any real estate-related inquiries, feel free to reach out. I’m here to assist you every step of the way.

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Market Info • March 2, 2024

February Market Stats – West TN

by Jennifer Knolton

Are you keeping a close eye on the pulse of West Tennessee’s real estate market? Whether you’re a seasoned investor, a prospective homebuyer, or simply curious about the region’s property landscape, staying informed about market trends is crucial.

So far in 2024, the real estate scene in West Tennessee witnessed some intriguing shifts and developments. From fluctuating housing prices to evolving buyer preferences, there’s much to unpack. To help you navigate through the intricate web of data and statistics, we’ve compiled a comprehensive overview of the key trends shaping the region’s real estate market.

In this blog post, we’ll delve into the latest figures and analyses provided by reputable sources. We’ll explore factors such as median home prices, inventory levels, days on market, and emerging patterns in buyer behavior. Whether you’re interested in residential properties, commercial ventures, or investment opportunities, our insights aim to provide valuable perspectives to inform your decisions.

To access the full report and gain deeper insights into the West Tennessee real estate market for February 2024, click here, February 2024 West TN Market Data. Stay ahead of the curve and make well-informed decisions in your real estate endeavors.

 

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Food • February 27, 2024

Best Marinade Ever…

by Jennifer Knolton 

1/3 cup soy sauce
1/2 cup olive oil
1/3 cup fresh lemon juice
1/4 cup Worcestershire sauce
1 1/2 tablespoons garlic powder
3 tablespoons dried basil
1 1/2 tablespoons dried parsley flakes
1 teaspoon ground white pepper
1/4 teaspoon hot pepper sauce
1 teaspoon dried minced garlic

Pour marinade over desired type of meat in a zip-lock bag and seal. Refrigerate for up to 8 hours. Remember the lemon juice will act as a tenderizer.

Grill & enjoy!
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Food • January 24, 2024

Healthy Chicken & Veggies

by Jennifer Knolton

Feeling a little heavy after eating everything in the house last week?  When the first snowflake fell, I started eating and didn’t stop until it was all gone. Yes a whole 7 days of comfort food AND junk food.  This is one of my go to recipes for a healthy meal and it is good for the waistline too.

 

Ingredients

  • 2 medium chicken breasts, chopped
  • 1 cup bell pepper, chopped (any colors you like)
  • 1/2 onion, chopped
  • 1 zucchini, chopped
  • 1 cup broccoli
  • 1/2 cup tomatoes, chopped or plum/grape
  • 2 tablespoons olive oil
  • 1/2 teaspoon salt
  • 1/2 teaspoon black
  • 1 teaspoon Italian seasoning
  • 1/4 teaspoon paprika

Instructions

  • Preheat oven to 500 degree F.
  • Chop all the veggies into large pieces. In another cutting board chop the chicken into cubes
  • Place the chicken and veggies in a large roasting baggie. Add the olive oil, salt and pepper, Italian seasoning, and paprika. Shake the bag to combine.
  • Bake for 15 minutes or until the veggies are charred and chicken is cooked.

You eat all by it self or serve with rice, pasta or even cauliflower rice. Enjoy!

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Market Info • January 8, 2024

December 2023 Market Statistics – West TN

by Jennifer Knolton

December 2023 Market Statistics – West TN

The following overview provides a comprehensive look at real estate activity from January to December 2023. It features data comparisons between December and the previous month, as well as the last three months and December 2022.

Average & Median Sales Price

The median sales price in December 2023 was $210,000, equal to the previous month and 10.53% higher than $190,000 from December 2022. The December 2023median sales price was at its highest level compared to December 2022 and 2021. The average sales price in December 2023 was $227,213, down -6.60% from $243,279 from the previous month and 9.11% higher than $208,243 from December 2022. The December 2023 average sale price was at its highest level compared to December2022 and 2021.

Sales Price / List Price Ratio

The sales price/list price ratio is a metric used to determine the average sale price divided by the average list price for sold properties, measured as a percentage. If the ratio is greater than 100%, it implies that the homes are selling for more than the list price. If it is below 100%, it indicates that homes are selling for less than the list price. As of December 2023, the sales price/list price ratio was 96.57%, the same as the previous month, and up from 95.51% in December 2022.

Number of Properties Sold & Absorption Rate

In December 2023, 172 properties were sold – a decrease of 22.17% from the previous month’s figure of 221, and 13.13% lower than December 2022’s 198. The sales of December 2023 were notably the lowest compared to those of December 2022 and 2021. The absorption rate is calculated by dividing the average number of sales per month by the total number of available properties.

Average Days on Market

The DOM represents the length of time a property remains on the market before it is sold. A rising trend in DOM often signals a shift toward a buyer’s market, whereas a decreasing trend indicates a shift toward a seller’s market. In December 2023, the DOM was 40 days, an increase of 2.56% from the previous month’s 39 days. However, it was 13.04% lower compared to December 2022’s 46 days. When compared to the previous years, December 2023’s DOM level was average.

Average Sales Price per Square Foot

One way to assess the direction of property value is by examining the average sales price per square foot. In December 2023, the sales price per square foot dropped by 3.91% from $128 the previous month, but was still up by 11.82% from $110 in December 2022.

Inventory & MSI

MSI, or months of supply inventory, is a crucial factor to consider when it comes to the real estate market. A lower MSI is advantageous for sellers while a higher MSI is more beneficial for buyers. In December 2023, the MSI reached its highest level compared to the previous two years, standing at 4.45 months.

New Listings

In December 2023, there were only 221 new listings. This indicates a decrease of 18.15% from the previous month’s 270 and an increase of 32.34% compared to December 2022’s 167. The number of listings in December 2023 was moderate compared to those of December 2022 and 2021.

The statistics mentioned are spread across various communities in West Tennessee. If you require more information about a particular area or even a specific home, please don’t hesitate to contact me, and I will gladly provide you with a statistical breakdown.

 

Based on information from Central West Tennessee Association of REALTORS for the period 01/01/2021 through 12/31/2023. Source data is deemed reliable but not guaranteed. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates, not employees.  ©2024 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

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© Coldwell Banker 2023 – 2025. All Rights Reserved. Coldwell Banker and the Coldwell Banker logo are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.