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Sam Hatfield Realty June 2012 Newsletter

 

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Sam Hatfield
Owner / Broker
931-580-6207

 

NEWSLETTER OF

SAM HATFIELD REALTY, INC.

4470 Mansford Road
Winchester, TN 37398

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www.samhatfield.com

REAL ESTATE SALES, LAKE PROPERTY MANAGEMENT, LAKE VACATION RENTALS

June 2012


 

Featured Home
New Listing
 

 

MLS# 1358360

798 Magnolia Drive

$1,100,000

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3 bedroom 2.5 bath lakefront log home with big water views.  Sit out on the back porch and enjoy the views.  Easy walk to water.


TIMS FORD LAKE PROPERTIES INFORMATION

TOTAL LAKE HOMES FOR SALE - TO DATE: 77
TOTAL LAKE HOMES LISTED DURING MAY: 7

TOTAL LAKE LOTS FOR SALE - TO DATE: 97
TOTAL LAKE LOTS LISTED DURING MAY: 1

MAY SALES ACTIVITY:

LAKE HOMES SOLD: 2
LAKE LOTS SOLD: 0


May New Listings

Visit www.samhatfield.com to view ALL Tims Ford Lake Properties for sale


MLS # 1358360 798 Magnolia Drive Winchester, TN $1,100,000
 

3 bedroom 2.5 bath lakefront log home with big water views. Sit out on the back porch and enjoy the views. Easy walk to water.

 

MLS #1362798 155 Damron Lane Winchester, TN $384,450

Promising farm, complete with farm house (being sold as is) barns, silo, and a beautiful creek running thru property, fenced and cross fenced, perfect for horses, cattle and farming-located near Tims Ford Lake.

 

 


MLS #1363360 0 Damron Road Lot 62 Estill Springs, TN $15,900
 

Nice building lot in a lakefront subdivision. This subdivision has the best private boat launch area on the lake.

 

 


Calendar of Events

 

June 14 - Flag Day

 

June 17 - Father's Day
 


 

 

6 Must-Have Characteristics to Look for When Buying a Residential Home

 

 

With home prices down, foreclosures up, there's an influx of great homes on the market with less competition vying for them.  The next year or so may present some prime buying opportunities for those willing to do some homework, and who meet the prerequisites of home ownership.  Although it may seem counter-intuitive, one of the most important things to ask yourself when you start looking for a house is: "How easy will it be to sell this thing?"

 

Sound personal-finance decisions usually involve thinking one step ahead.  You should not be content just to get into a house that you emotionally fall in love with; rather, you should be looking to buy a house that you can get out of quickly, easily, and at a profit should life happen to throw you a curveball that will force you to move.

 

What characteristics lead to a house being highly "marketable"?  Granted, there's not an exact set of criteria that will be ideal for all people in all situations and markets, but the more factors you have working in your favor the better.  We're no talking about buying a house for the purpose of flipping it.  We're simply talking about buying a house that you can live in, put some sweat equity into over time, and then sell for a profit.

 

As you shop for a home, keep in mind these characteristics that not only make it appealing to live in now, but will make it have greater equity in the future (thus making it easier to sell).

 

The right size

You need to not only look for a house that fits for you, but also that fits for the majority of the population.  There's what the majority of households are looking for or are able to adapt to:

 

Look for a minimum of three bedrooms and maximum of four.  Two bedroom homes mostly cater to single people or couples that do not or will not have children (and aren't concerned with selling their house).  At the same time, homes with five bedrooms or more cater to those who have a healthy number of children, or plan on having them in the future.  That makes three- and four- bedroom homes the perfect size for the majority of the population, with three bedrooms being ideal.  If you haven't noticed, large suburban homes that are energy drainers are quickly going out of style.

 

In terms of number of baths, 1 1/2 or 2 will make the home more desirable than just one.  If you're looking at a house that could cheaply add another half or full bath, you might have a good find.

 

Square footage is important, but not quite as the number of bedrooms.  Typically, you'll want more than 1,000 (with room to expand) and less than 2,000 for a home to be comfortable and efficient for the majority of the home-buying population.

 

Curb appeal that is ripe for improvement

When it comes to selling a house, the biggest challenge is getting people in it.  The key is to find an attractive home from an architectural perspective that needs aesthetic upgrades.  Consider yourself lucky to find a home with an ugly paint color and really poor landscaping.  These are two things that you can spruce up on the cheap side with a little sweat equity.

 

If you're willing to get up on the roof, a home with a poor roof may present an opportunity to get a credit during the bidding process (with a recommendation from an inspector) that is worth the price of a profession doing the job.  You can then turn around and buy the materials and do it yourself, while pocketing the remainder of the money to apply towards your loan or other projects.

 

Here are some other cheap ways to improve an home's curb appeal before you sell it:

Paint the shutters

Power wash everything

Refinish the porch

Add landscaping that looks great year-round

Water the grass until it is the greenest on the block

Add a nice new mailbox and address numbers

Good structure

When it comes to buying a home, you want to avoid major structural issues that will cost you big money to fix or will diminish your leverage when it's time to sell if you haven't fixed them.  Here are a few of the biggest culprits:

 

Do not buy a house that has issues with the foundation.  If you see large cracks in the foundation outside or on the basement walls, or the walls look like they are caving in some spots, kindly leave the house and look elsewhere.

 

Termite or carpenter ant damage is common in some locales, and it may be hard to find an older home that hasn't had a little damage at one point or another.  The key here is to find a home that does not have a major structural damage and has no signs of current issues.  Some home inspectors will actually insure for a year or more that there are no current signs of infestation, and if they appear, they will cover the costs to terminate.

 

Have you ever walked through a house that makes you fell claustrophobic or just didn't feel right?  Odd s are that other people feel that way in the same homes.  Don't buy them.  This may be remedied by knocking down a wall or two in some homes, but that can be an expensive project and you may be risking structural damage.

 

Avoid buying a house that has signs of mold or water damage.  They can be very expensive to fix and usually are signs of a larger foundation or roof issues.  Here again, a good home inspector will be a able to test or look for both.

 

Beware of problems with the electrical and plumbing systems.  These are a home's lifeblood, and replacements are costly.

 

If you buy a home with an ancient furnace, you may want tot have checked out beforehand.  Any home with steam radiant heating may cost you a pretty penny to heat or replace.

 

Easy-to-improve internal aesthetics

As with structure, making major changes to the interior of a home can be costly, but there are some cheap projects that can really change the perceived value and quality of a home.  One summer's worth of weekends spent on the following projects can not only improve the marketability of your home, but make it much more enjoyable for you to live in.  Look for a house that will allow you to do most of the following, as one with all of them done already will probably be selling for a premium:

Add nice, modern-looking light fixtures

Add fresh earth-tone paint

Replace beat-up light switch covers

Refinish hardwood floors

Replace linoleum with tile

Add a backsplash in the kitchen

 

Here are some of the features most people want, but won't be cost effective for you to add:

Central air conditioning

Nice kitchen cabinets (or cabinets that will be nice when refinished)

Fireplace

Garage

Energy-efficient windows

An under-priced location

It seems that more people are looking to purchase in nice urban areas that are close to work versus suburban McMansions.  Not only to these homes save commuting time and money, they almost have a lot more character and are much more structurally sound.  Another bonus to purchasing a home in a more densely populated area is foot and car traffic.  Highly desirable locales are going to cost you a premium, but you may be able to sell a home quicker.

 

Good school district

Even if you never plan on having children, it is important to look within areas that have a reputation for having good schools.  Do it for the kids.  If not yours, for the kids of the people buying your house from you.

 

The more desirable characteristics you're able to find or add to through inexpensive sweat equity will improve your changes of not only selling your home, but selling it quickly and for a premium.

 

Source:  http://www.getrichslowly.org/blog/2008/12/17/6-must-have-characteristics-to-look-for-when-buying-a-home/

 

 

 

 

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THE LAKE LEVEL

FOR

TIMS FORD LAKE CURRENTLY AS OF JUNE  1, 2012:

LAKE LEVEL IS: 882.6

 

For more info go to http://www.tva.gov/