Search Chattanooga Short Sales

Purchasing a short sale is usually not an easy task as the whole process generally takes over 3 months and typically between 6-9 months. Many buyers in the area get frustrated with the whole process or decide to simply narrow their search to Chattanooga foreclosures instead. However from a buyer’s or investor’s perspective, short sales can be as one of the best buys out there less maybe an auction which are much more rare.

How To Purchase a Short Sale

Short sales are require you to have a contract with the seller and the bank or obtain bank approval. In most instances the sellers are wiling to sign of on your offer so that you can attempt to obtain bank approval as they just do not want a foreclosure on their record. If the sellers attempt to negotiate you, in most instances unless your offer in outrageous, you should walk away or negotiate very little as the bank will almost certainly try to negotiate with you as well. In almost all instances the bank will require you and the seller to have separate agents and provided they are experienced at doing short sales, they will guide you through the process which from a buyer’s point of view is really not that much different besides the waiting.

Search for All Brick Homes in Chattanooga

Although their are numerous construction types and coverings, perhaps the most popular and classic styles is the all brick home. All brick homes not only typically hold their value better than other coverings such as vinyl, stucco, or hardy board but also appreciate faster. Brick homes also add and extra level of protection from the elements and intruders which is especially important in newer green built homes as many now use a insulating styrofoam board as opposed to the traditional plywood. The reason brick is important in these energy efficient homes is because vinyl could be easily cut and allow access to you belongings and your loved ones.

Chattanooga All Brick Home Values

When building a home between 2000 and 3000 sq. ft. most builders will charge approx. $5000 for an additional side to be bricked which sounds like a lot but because most newer homes have at least the front bricked it is roughly $15,000 extra for whole home to be bricked. While you maybe thinking twice about the extra cost with today’s low interest rates that is really only about $75 extra per month.

Search Investment Homes in Chattanooga, Tennessee

Whether you are a savvy investor or are considering your purchasing your first investment property, Chattanooga is a great market for a long term investment. The Chattanooga real estate market has been remarkably steady over the last few years especially in comparison to many other metropolitan area around the nation. In most of the suburbs in Chattanooga the home values have remained stable and appreciated year after year. If you are looking to make a quick buck, this might not be the market for you, but if you want a secure property investment with proven returns you will want to consider the area for a number of reason. Besides the stability of the market, Chattanooga’s location is a exceptional for increased growth in the local economy for not only the medical industry, but it is also ideal for both small and large businesses alike as it is very convenient an connected by major interstates to several other large cities on the South such as Atlanta, Nashville, Knoxville, and Birmingham.

Chattanooga Investment Property Options

Chattanooga is not only a wonderful destination for a vacation or 2nd home but also ideal for a vacation rental as these properties are usually in high demand. These properties are a bargain in comparison with beachfront homes in Florida and Georgia and generally rent out for a comparable amount. Granted homes in beach front communities appreciate faster namely as a factor of their increased cost which can be easily be 3 times higher or more, but higher initial cost, taxes, insurance, and homeowner’s dues rarely allow owners to realize a positive cash flow. Likewise generally properties in these area that are not a minimum water view likely will not rent as a vacation property, but as a seasonal or annual rental. So the likelihood of owners being able to use their property in the ideal times of the year.
If you are looking for a more traditional investment such as Chattanooga foreclosures, land, or a annual rental, Chattanooga is a prime market for those as well as home building is still steady and the vacancy rate for residences is much lower than most area of the country. If you have additional questions about investing in the Chattanooga Area market, contact us for further assistance.

Search for Vacation Homes in Chattanooga

If you are looking for a great weekend getaway or vacation home, you really should consider the beautiful and scenic East Tennessee mountains near the the Greater Chattanooga Area. These remarkable bargains offer a perfect getaway from the hustle and bustle of everyday life. Imagine yourself sipping fresh coffee on private chalet looking out over the majestic autumn mountain views with nothing to do but enjoy the peace and tranquility of lovely Appalachian Mountains, that is other than the sound of your hot tub bubbling inviting you to take a dip.

Vacationing in Chattanooga

Chattanooga is packed with all kinds of inexpensive and fun things to do and is a short trip to numerous local attractions. Consider taking a ride on the Famous Chattanooga Choo Choo, visiting historic Lookout Mountain, or going antiquing in the nearby towns of Blairsville or Blue Ridge. For outdoor lovers, Chattanooga is loaded with fun things to do such as whitewater rafting down the Occoee River, famous for the Atlanta Summer Olympics, going boating or fishing on Lake Chickamauga or Nickajack Lake, or go hiking and view some of the areas incredible waterfalls. In addition, consider renting your investment as vacation home and get positive cash flow out of your property at a fraction of the cost of a beach front home. You really can’t go wrong as the local real estate market has been incredibly steady and appreciating year after year as opposed to some vacation destinations, such as some area of Florida, that have more than 30-35% sit vacant per the most recent census.

New Homes & Home Builders in Chattanooga

Owning a new home and being able to select all the features that best suits your family’s needs is something many home buyers desire. What could be easier than moving into a home that is set up exactly like you want it that requires little to no extra work to get the property up to your standards?

Finding the perfect new home in Chattanooga

There are a few reasons why every buyer does not purchase a new home.

1. Many home buyers are intimidated by the process of selecting every little detail in their home.
– This really should not deter you from considering a new home as many spec homes are already built and require little to no additional decision making. However building a home is not for everybody. It can be one of the most satisfying experience you will ever have or possibly one of the most stressful and it is really up to dynamic of your relationship with anyone else purchasing the home with you meaning if you argue about everything already, maybe a spec home is a better route.

2. Cost: How do new homes compare to resales?
– This can vary from different new home builders, but typically new homes cost a little more than resales or foreclosures in Chattanooga TN. The question at any given time is how much difference? A higher price and a better value can and often do coincide. When considering either resales or foreclosures you must consider the cost of any improvements or changes that you intend to make as well as maintenance issues that may not be as apparent such as a new A/C, replacing the roof, or appliances. Rest assured a home warranty can be worth its weight in gold.

3. Selecting the right builder.
– Choosing an inferior builder or not getting the best bang for your buck is something that all new home buyers are afraid of. It really takes a trained eye and knowledge of the construction industry to know what your looking for as you probably will not find a builder or builder’s agent that would tell you that there is a better product out there, they want you to buy one of their homes. Unless you are a very experienced and savvy investor, it is not recommended to go at this without the help of an experienced agent. Many if not all home builders will try to sell you on the features, options, and price of their homes, but without having an accurate knowledge of how much structural and cosmetic options truly effect the value it is difficult to make a rational decision. Think about it almost all builders try to save money somewhere or make up the difference in by overcharging for a desirable option.

4. Should you use a buyer’s agent?
– The choice is entirely up to you, but you will not get a discounted price for not having one for a number of reasons. The two most important reasons are appraisals and the Realtor community. If a builder gives a discount on a home purchased without a buyer’s agent they could negatively effect the value of future purchases meaning if the next buyer wants to purchase the same home with a buyer’s agent the appraised value might not support the difference in pricing. So the builder would net less which they are not willing to risk. Likewise for most builders, buyer’s agents account for 65-85% of their business so risking getting a bad name in the Realtor community is not worth it to make 1 additional sale. If you would like to work with an experienced agent, that has worked for some of the largest home builders in the county and knows their tricks, please contact us for a consultation.

Down Payment Assistance Programs in Chattanooga Tennessee

The Tennessee Housing & Development Agency or THDA offers several down payment assistance programs for the Greater Chattanooga Area.

1. Great Rate: This program offers a below par rate for first time home buyers which is generally .125% to .25% less.

2. Great Advantage: This program offers a 2% contribution for first time buyers for either closing cost or down payment assistance. This typically is higher than the Great Rate program by .25% to .50%.

3. Great Start: This program offers a 4% contribution for first time buyers for closing cost or down payment assistance. This typically is higher than the Great Advantage program by .25% to .50% and .50% to 1% higher than the Great Rate.

Lending 100% Financing – THDA

– THDA funds can be used either for down payment assistance or closing cost or both. THDA funds can also be used in combination with seller contributions, however once closing cost and the down payment requirement is met no additional credits can be offered to the borrower.

– THDA requires a 45% debt to income ratio which is lower than FHA which means a borrower can have less debt when applying for a loan.

– THDA funds do not charge for their contributions, however lenders will charge a origination charge to the borrower up to 2% (can be financed) to originated the loan. THDA does not lend directly but though approved lenders.

Search Chattanooga Pool Homes

Who doesn’t want a home with a stunning pool for those hot summer days. Use the search below to find a home with a pool in the Chattanooga area.

Buying a Pool Home in Chattanooga, TN

There are a number of items to consider when looking a pool homes.

1. Who is going to maintain the pool?
You can either hire a pool man or someone in your family will need to handle this chore. In reality it is not that difficult and many stores are willing to help teach you, but it does need to be done regularly. So make sure you know what is required and that you are up for it.

2. Above or below ground?
Above ground pools are so cheap these days that they offer little to no increase in value. In fact, you’re home could actually be worth less to a buyer if you have an above ground pool. You might get a little bump from extensive deck work, but you are more likely to get nothing at all from an above ground.
Below ground pools are much more aesthetically pleasing and thus they typically cost considerably more. Likewise a below ground will add value to almost any property.

3. Building a pool.
If you are thinking of buying a home and putting in a pool, you really need to get a soil test before you buy. In Chattanooga or in many areas of Tennessee they can be rocks that are practically unmovable. Even if you have to get someone to excavate a bolder in can get very pricey.

Luxury Homes in Chattanooga TN

If you are looking for a stunning designer home with a view then Chattanooga is the place.

About the luxury home market in Chattanooga

There are few places in the Southeastern United States that can match the plush mountain luxury living that Chattanooga offers with most homes featuring a magnificent view as far as the eye can see. One of the more popular area for custom estate style homes in Lookout Mountain which is one of the most affluent areas of town, but there are also a number of remarkable lakefront homes in areas such as Harrison. The best thing about higher end market in Chattanooga is that is so steady in comparison with larger cities in the South. Use our detailed search to refine your home search to return just the features that you are wanting.

Waterfront Homes In Chattanooga TN

Search all Chattanooga Waterfront Homes

If you are looking for a stunning lakefront home in the lovely mountains of Tennessee then Chattanooga is the place. Homes on Nickajack Lake and Chickamauga lake, both reservoirs on the beautiful Tennessee River, are just a short commute from downtown Chattanooga. Whether you are looking for a weekend getaway or making the Chattanooga area your new home, you can search all available lakefront properties in the area.

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