Lake Forest Parade of Homes Coming

I listed a gorgeous home last weekend (well 1 1/2 weeks ago) in the Lake Forest subdivision of LaVergne.  The home is a very affordable $128,000 and is amazing… beautiful.

However, my listing made four homes in a row for sale which doesn’t always sit well with potential buyers.  In an effort to turn this into a positive, I’ve contacted the other agents on the street with listings and we’re pulling together to hold a “Parade of Homes.”  The five or six of us has grown now to 15 homes and more possibly coming on.

To see who’s participating, go here!

Can Washington Save Housing?

I’ve been reading my latest edition of U.S. News & World Report and besides politics, crime, the war, etc., I found an interview with Bill Gross, the founder of one of America’s largest bond funds management companies.  His answers to questions about the housing industry were very interesting and make me even more curious about what is being discussed in the backrooms of Washington, D.C.

Mr. Gross addresses how to stop the decline in home prices and said monitory policy can help homeowners with ARM mortgages, but says it doesn’t really help people trying to sell – just those trying to buy.  This is because lowering interest rates may have a short-term impact, but 30-year mortgages haven’t come down like the fed funds rate.

Mr. Gross believes it necessary for the goverment to essentially subsidize mortgages, not in a ridiculous way, but for people who have demonstrated good credit and are willing to pay on time.  As far as the expense of such a program, it wouldn’t be nearly as expensive as the $150 billion stimulus package that has just passed.

“We need the FHA to provide mortgages with, as least in my opinion, a subsidized interest rate. … [for] a government agency is overseeing the list of buyers as opposed to “greedy loan originators that just ran it for a fee.”

Mr. Gross also said,

“If your house is down 20 percent, you’re not in a rosy disposition to spend money anywhere. You think you’re getting poorer by the secodn. We have to avoid that.”

Read the entire Q&A article in U.S. News and World Report here. 

New Listing: 279 Bill Stewart Blvd.

This home is just amazingly beautiful and as an added feature, it SMELLS GREAT!  This very clean home features designer colors, all blinds (which are upgraded with a “plantation blinds” feel), drapes, and tasteful curtain rods remain.  In addition, the seller is willing to leave behind all kitchen appliances – including the standard stove, dishwasher and disposal -AND a nice refrigerator with an ice-maker and a built-in microwave.  The bedrooms are zoned which means the master bedroom is on the opposite side of the house as the other two bedrooms. Master bedroom has a walk-in closet and a full bath with an elevated vanity.The outside is part brick and vinyl, plus it has a wooden deck off the kitchen.  In addition, a small creek runs along the tree-line which will remain even after new homes are built behind this home.  With today’s low interest rates, this home could be yours for $747.52 p/month. I’m not a lender so rates vary, but that’s assuming full price offer with a rate of 5.45%.

Some stats:
1225 Square Feet
3 Bedrooms
2 Full Baths
1-Car Garage
Beautiful Deck overlooking small creek
Sidewalk in front (You had me at hello, sidewalk)

Let’s look inside and out!

This home is gorgeous and I expect that as people begin touring, it will sell quickly.  If you’d like to arrange a tour of your own, please feel welcome to comment below, call 491-2161 or email kathy (at) bobparks (dot) com.

Newspaper Insert

The Rutherford County offices of Bob Parks Realty, LLC have begun a 24-page insert every Sunday in the Daily News Journal.  The first one came out this past week and it was marvelous.  There are things that could be tweaked, but overall it’s going to be very valuable to buyers and sellers, along with agents in our offices!  Here’s what it looks like:

To take a look, click here.

When You Interview Your Listing Agent

I am trying to get my head around a situation over on This is LaVergne.  A seller asked me to feature her home on the web site and I said sure, but asked her to consider me as an agent when she was ready to list.  She replied that she already had it listed by an agent who won’t be named.  Because I’d already said yes to the seller, I featured the home and sent a courtesy email to the agent. 

That night, I received an unhappy phone call from said agent who felt I misled readers into thinking I had it co-listed and he wanted his listing OFF the site.  I complied and in an effort to be honest and transparent also edited the post to read that the remaining home featured was not my listing, but someone else’s.  I felt about an inch tall and was somewhat humiliated because I should have contacted the agent ahead of time (hindsight is 20:20 and I most definitely will in the future).  On a personal level, I will not allow that situation to eat at me. 

However, on a professional level it does bother me.  As one commenter wrote, “what a dork…..it was free advertising for the unit….some people just dont get it do they?”  No, they don’t.  I was not out to “steal” the client, I wanted to help find a buyer so everyone would be happy.

To that end, I am providing you with some questions to ask your potential agent as you consider selling your home.  You should interview as many agents as you want and then decide who is a good fit for you. 

1. What systems do you have in place to assure attention to detail?
2. What is a CLUE report and how is it important?
3. Do you have testimonials from other agents (your peers)?
4. How many visitors do you get from your website daily, weekly, monthly?
5. What percent of your business is by referral?
6. What is the absorption rate of this market?
7. Do you hold the ABR designation?
8. Can I call your last buyers or sellers and ask their opinion of your work? Or ask to see copies of letters or thank you cards given to you from buyers or sellers.
9. How long have you been in residential real estate?
10. Can you show me pictures of your recent sold properties?
11. Would you hire yourself?  Why?
12. May I see your personal business plan?
13. What kind of marketing will you do for my home? 
14. Should I offer a home warranty?

There are so many more questions you should ask, but these should help you get started.  Don’t be afraid to ask the questions and don’t be afraid to expect an intelligent answer.

You Know It’s a Bachelor Pad When …

My open house today went very well, however it didn’t take long to figure out I was in a bachelor’s pad.  You know it’s a Bachelor’s Pad when:

1. A vinyl Christmas tablecloth is still on the kitchen table with melted candles and a bowl of pine cones.
2. Wall decor consists of framed newspaper headlines proclaiming a sports team’s victory.
3. Outside shutters are painted dark blue.  Except one window’s which are painted green.
4. Box of Valentine’s candy on counter with card is addressed to “Mom”

I smiled all day over this!

Why Not an Agent?

I know that many times people who sell their homes choose to go the FSBO route – or “For Sale by Owner” – because if they can sell it themselves they avoid paying commission.  Most times, these same sellers do end up using a Realtor, but for those who are able to sell on their own… good for them.

What I do NOT understand are people who BUY homes without a Realtor.  My company does not charge an administrative fee to a buyer like several other big firms in this area do.  Unless a buyer has signed a Buyers Representation Agreement and buy from from another agent, they wouldn’t typically owe their Realtor ANY fees, commission, etc.  So why wouldn’t a buyer use an agent?

My friend Glen Dean, an agent in Kingston Spring, wrote an excellent post about why buyers should use an agent,

Don’t be afraid of me as if I am some type of vacuum salesman. The fact is, I can’t sell you anything. My job is to work in your best interest, and your best interest always means allowing you to make this very important decision without influence.

Go read the rest over here.  If you’re a buyer with no plans to use an agent to exclusively represent YOU (as opposed to buying from a listing agent who is representing the seller), I’d love to hear from you about your reasons why.  Otherwise, gosh…. good luck!

Open House Sunday

I am having an open house at 1302 Springwood Court in the Heritage Valley subdivision of LaVergne.  I’ll be there this Sunday from 2:00 – 4:00 p.m.  If you’re in the market for an affordable home, please stop by, say hello, and look around.  Details:

$133,900
1320 square feet
3 Bedrooms, 2 baths,
2-car attached garage
Fireplace, Deck, Walk-in closet in master bedroom

Client Feedback is Important

I received a feedback report today from one of my latest clients.  It was good feedback, but even if it was not, I’d want to hear it.  With honest feedback, I can always learn and improve.  From Joe:

Kathy worked really hard to help me find a home.  Most importantly, she listened tome as to what I wanted and could afford.  I appreciate her efforts.

Thank you, Joe!

Buy or Refinance While Rates Hold

I saw my friend and lender Scott Matuk on the news this morning talking about what how the Fed cuts really impact (or don’t) the home loan market.  You can view the WKRN news segment or read the summary by clicking here (I can’t figure out how to embed the video so you’ll have to settle for clicking the link!).

Whether it’s from the Feds or just market fluctuation, interest rates right now are strong.  If you’re not a buyer right now but already own a home, you may want to consider refinancing.  According to WKRN,

“Lower interest rates significantly reduce one’s monthly payment.  For example, if you financed $100,000 over 30 years at a 7% rate you will pay $665 a month. At 6.5%, your payment drops to $632 a month and at 6% even further, to $600 a month.”

If you want, I could probably get Scott’s autograph for you!