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24
Jul

For those of you who did not see this article in a recent edition of the Chattanooga Times Free Press, there’s more good news about the current surge in home sales and home prices at the national level AND in the greater Chattanooga real estate market. Below is an excerpt taken from the article plus a link to the complete article.
— Joe

(Chattanooga Times Free Press, July 23, 2015, by Dave Flessner)
The National Association of Realtors said Wednesday that sales of existing homes climbed 3.2 percent last month to a seasonally adjusted annual rate of 5.49 million, the highest rate since February 2007. Sales have jumped 9.6 percent over the past 12 months, while the number of listings has risen just 0.4 percent.

The median home price has climbed 6.5 percent over the past 12 months to $236,400, the highest level — unadjusted for inflation — reported by the Realtors.

The Greater Chattanooga Association of Realtors said Wednesday median home prices last month rose locally to $155,000, up 5.8 percent from a year ago. In the first half of 2015, local Realtors sold 7,494 homes or 6.7 percent more than a year ago.

Read the complete article…

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

15
Jun

Here’s a great new video from Freddie Mac’s Deputy Chief Economist, Len Kiefer. It’s short, less than 3-minutes, yet offers some interesting insight into the housing recovery, housing mortgage rates, and home-buyer affordability. If any of these subjects are of interest to you, then I recommend taking the time to watch this video.
— Joe

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

08
Jun

The National Association of Realtors recently published their Commercial Real Estate Outlook for 2015.Q2. It’s an excellent report and is certainly worth reading! Here’s why.

The Economic Overview section contains information on the national economy, including GDP, business investments, manufacturing activity, government spending, consumer spending, employment and consumer confidence. Summary data is included.

Next, there is a discussion of the commercial real estate market, including commercial real estate fundamentals, office absorption, industrial markets, retail markets, multifamily demand, investment sales and available commercial inventory. Also, there is a chart comparing key metrics for the office, industrial, retail and multifamily markets.

And last but not least, there is a Commercial Forecast of Metro Vacancy Rates for approx. 80 U.S. cities, including Chattanooga, Nashville, Knoxville, Memphis, Atlanta, Birminham and various other southeastern cities.

If you are a current or prospective commercial real estate investor I urge you to read this report in its entirety.

Simply click here to read the full report.

— Joe

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

11
May

Healthcare costs! Recently I’ve had a number of conversations with clients on the subject of our country’s healthcare costs — and how healthcare is impacting the federal budget. However, I’ve found that these conversations tend to reflect each person’s political views rather than focus on actual facts and figures. Therefore, I decided to find some detailed information on this subject. And, in the process, I found a report written on April 13, 2015 titled, “The Federal Role in Healthcare: Where Your Taxes Go!” This report is interesting, informative, politically unbiased, and it includes a comparison of United States healthcare costs to the healthcare costs of six other countries.

The report was written by Paul Keckley, Ph.D., a Managing Director at Navigant Healthcare’s NAVIGANT Center for HEALTHCARE RESEARCH and POLICY ANALYSIS. Paul’s background includes multiple boardroom duties, government consulting roles at the highest levels, he’s published three books and written more than 250 articles, and he publishes a weekly newsletter, “Pulse.” I think you’ll appreciate Paul’s unbiased viewpoint as he discusses where we are and where we may be going with the U.S. healthcare system. I think you’ll find it very interesting.

— Joe

 

By Paul Keckley, Ph.D., Navigant Healthcare, (April 13, 2015)

This week, many of us will submit our Federal Income Tax forms to the Internal Revenue Service, continuing a national mandate since the passage of the 16th Amendment to the Constitution in 1913. Last year, 86% of 137,887,000 filers used e-filing and the average refund was $2,861.

Individual taxes are 42% of the $3.0 trillion the federal government took in last year: an additional 40% comes from payroll taxes, 9% from corporate taxes, 3% from excise taxes and 6% from others. The official tax rates across our 7 major brackets range from 10% to 39.6%, but after deductions and other adjustments, the effective rate is 0% to 20.1%.

And of the $3.5 trillion the federal government spent in 2014, $1.1 trillion went to healthcare led by Medicare and Medicaid funding. So federal income taxes play a major role in funding the U.S. healthcare system in addition to out of pocket costs paid by employers and individuals for co-payments, deductibles, premiums and more.

The current debate about health reform in the U.S., and the announced goal by CMS to accelerate the transition away from fee for service payments to a performance-based alternative payment system are chapters in the short history of the U.S. health care system. Before passage of legislation authorizing federal funding for Medicare and Medicaid July 30, 1965, a payment system in health care did not exist consistently across the states. It was a retail market: doctors charged for their services, hospitals were paid either directly or through insurance that covered inpatient events, and that was it. The American Medical Association (AMA) supported hospital insurance, but resisted efforts to regulate professional and outpatient services vigorously.

In the Eisenhower, Kennedy and Johnson years, the problems of the aging and poor were perplexing to the country: the passage of the Civil Rights Act of 1964 opened the door to a desegregated health “system” but a payment mechanism did not exist at the time. LBJs “Great Society” sought to fix the problem, with Medicare and Medicaid becoming the healthcare safety nets for seniors and the poor. In the year after passage, their costs were less than 3% of total federal spending and .4% of the U.S. GDP; last year they were 31% and 17% respectively.

Click on this link to read the full report…

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

04
May

I was recently working with one of my clients to explore a variety of non-traditional methods to finance a property that he wanted to purchase. His need for alternative financing was driven by the fact his banker was not willing to fund the purchase with the favorable terms my client needed.

In most cases this purchase would have come to a screeching halt. However, my client decided to explore other financing options. And, I worked closely with him to identify the best strategies based upon his financial situation.

Fortunately, our efforts paid off. My client was able to complete his purchase thanks to a little research, a little creativity, and his can-do attitude.

Here’s my point:

During the above process I ran across a 14-page PDF report that I thought was particularly well done and potentially useful to many commercial and residential real estate buyers.

“Your Quickstart Guide to Getting Financing – 10 Creative Ways to Buy Real Estate in Today’s Market… With No Money Down” is written by Reggie Lal, an active real estate investor, wealth building coach, speaker, author and educator.

The report discusses these 10 alternative financing options:

♣ Owner Financing

♣ Wholesaling

♣ Double Closing

♣ Using Friends and Family Money

♣ Private Money

♣ Hard Money

♣ Options

♣ Sandwich Lease Option

♣ Use a Credit Partner

♣ Do an Equity Share with the Owner

Want a taste of the information provided? Here are the first few paragraphs of the report:

What is Creative financing: a term used widely amongst real estate investors to refer to non-traditional ways of financing real estate; in other words, financing techniques not commonly used by Real Estate Agents or Banks.

Why Creative Financing is a Necessary Tool:
One simple way to buy a home [or commercial property] is to pay all cash. However, the typical Investor is not in a position to do this, nor is this an efficient use of your Capital. Thus you must arrange for some type of financing of your purchase(s). Using Creative Financing techniques, you will be able to get there faster.

In this market – most Investors can afford only a modest down payment and are forced to secure the remainder of the purchase price by mortgage from some source other than the normal lending institutions (Banks). The problem is – in a down Real Estate Market: credit tightens, there is little liquidity in the market place, appraisals tend to come in lower and investor loans are limited and hard to obtain. This makes conventional Real Estate Financing nearly impossible for us Investors. That is why I took the time to write this article for you.

The general goal of creative financing is to purchase or finance a property, with the buyer/investor using as little of their own money as possible, otherwise known as leveraging, OPM (Other People’s Money). Yes – “it takes money to make money”. However it does not have to be your OWN MONEY! Using these techniques, an investor may be able to purchase multiple properties using little or none of their “own money” and still do multiple deals at the same time. Don’t’ worry – As you get better at buying – the money will find you.

The more money a property requires, the less attractive it is to us the Real Estate Investor. So as Investors/Buyers; we should not use all of our savings for the down payment or repairs, this deprives us capital for other deals and reserves to fall back on.

Click on this link to read the full report…

— Joe

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

27
Apr

By (March 26, 2015)

Are you putting your house on the market? As I’m sure you’re aware, first impressions are vitally important to prospective buyers.

From the moment people walk in, they start making a decision about your home and what it would look like if they lived there.

So how can you make your home an inviting space that buyers love? The answer is home staging.

There is a big difference between a staged home and one that is on the market that hasn’t been staged.

Here are some of the biggest mistakes that homeowners make when trying to sell a home without the benefits of staging.

Cluttered Space

Clutter gives the buyer a feeling that there is not enough storage space in the home. So it’s really important to put away unneeded items while you are showing your home.

Everything from countertops and tables to bedrooms and even the garage needs to be cleared away of clutter and unused items.

Dirt and Grime

No one wants to move into a dirty, poorly maintained home. Taking the time to make every surface sparkle is critical. Bathrooms should be spotless, free of mold, mildew and stains.

Give some extra attention to the kitchen too by paying close attention to the appliances, especially the fridge, garbage area and cupboards.

Unpleasant Odors

One whiff of a foul smell can make a buyer turn their nose up on a home. Sometimes we are so used to the way our home smells that we don’t recognize odors. Sometimes sellers try so hard to make their home smell nice that strong candles or air fresheners can offend buyers too.

Making a home have a neutral, clean scent is the best way to go. Worst offenders are pet smells, musty/stale air, and cigarette smoke. Other offenders can include mildew or even strong food smells such as fish. If in doubt, have a friend walk through your home and give it the sniff test.

Too Hot or Cold

Buyers want to know that the home will be comfortable. This includes knowing that it’s warm in the winter and cool in the summer. Be sensitive to this and set the temperature accordingly when you are showing your home. Fans can help keep air flowing through the home.

If windows are drafty, make sure to seal them with caulk or replace them if budget allows. If it’s summer, keep it pleasantly cool but don’t blast the AC and freeze your buyers out. You want buyers to linger and feel at home in the space.

Keeping it Too Dark in the House

A dark and dreary home doesn’t show your property off in its best light. Take time to walk through your home and see ways you can add more light. Keep the lights on in the house and consider adding extra spotlights or lamps. Make sure the windows are clean so the sunshine comes through them.

Avoid these pitfalls when selling your home by hiring a home staging professional that can take care of all the details so you don’t have to frantically try to remember everything during this stressful time.

Having a staged home sells fast with offers that are sure to make you smile.

Janet Voth is the owner of Designing Spacez, and as head designer she proudly holds the accredited title of “CRSS” Canadian Real Estate Staging Specialist.
Give us a call for a free consultation! http://designingspacez.com

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

Learn why Joe Pleva is a top-performing realtor. Click here to watch a short video.

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