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Dave's Realty Resources Blog

Friday, June 30, 2017   /   by David Connell

To Hot to Shop?

Are you out there looking for a home and finding nothing to buy? There's a reason for that and it's going surprise you.

Right now, the Knoxville market is hotter than it's been in decades. With an average Days on Market of just 63 we're approaching a critical shortage of homes in the cities’ most popular area, South Knoxville.
Part of this problem is since rents in the section of town are at one of their highest points in the city’s history land lords have very little incentive to sell their most profitable properties in one of the most popular areas.  
If you have a rental or you’re a home owner looking to sell you are in a great position. On the other hand, if you’re a buyer on budget or you want to be as selective as possible when it comes to buying you may be in a bad spot if you’re looking at homes in the magic sweet spot of $180-220,000.
Even if there is a listing available these homes are flying off the market before most buyers get a ...

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Friday, March 17, 2017   /   by David Connell

Steps to How-Ownership: How much House can You Afford?

In step two we’ll be going over calculating how much home you can afford. Once the time to buy a new home arrives you should consider a variety of things when you’re trying to estimate how much home you can afford. You’ll need to look at affordability in comparison with your total debts. This calculation should include your total monthly expenses; such as car loan payments, credit cards, utilities, the eventual cost of your mortgage, and taxes. As well as any other financial obligations or other monetary concerns you have. We’ll go over the basic guide lines and terms below.
1.      Debt to income ratio.
·         The lender will typically consider the overall debt you’re carrying versus your pre-tax income to get a Debt-to-Income ratio. This is the percentage of your income that is applied to your existing debts and your future mortgage. This includes things like st ...

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Wednesday, March 15, 2017   /   by David Connell

Steps to Home-Ownership: Understanding how Credit affects You and You affect your Credit

Are you about to take the first few steps to buying a new home? Maybe this is your first time purchasing Real Estate or it’s just been a while and you need a refresher? Throughout the course of the next few weeks we’ll go over the basic of buying a home, starting with understanding your credit score and how it affects your purchase power. Let’s get started.

What is a Credit Score?

Your Credit Score also known as a FICO score, is a reflection of your overall credit worthiness at the time of a given transaction. It is used by a variety of institutions; such as, auto loan lenders, credit card companies, cell phone providers, potential employers, and most importantly for our purposes, mortgage lenders.
2.      What is your score composed of?
Your individual score consists of five categories.
·         Credit Mix (10%): The different types of accounts you have open. IE, credit ...

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The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2018. All rights reserved. This information is being provided for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.