Franklin TN Buyer Real Estate Viewing Guidance

Scheduling and viewing properties may be somewhat stressful. There are different things to consider when selecting homes to view, prior to visiting, and during showings. The Franklin TN buyer real estate viewing guidance below can help make it a little bit less cumbersome.

Property Selection

Stay Within Your Price Range

It can be heart breaking to get emotionally invested in properties that are out of your price range. This may also waste time and energy. Request a home loan pre-approval and keep in mind what you can afford prior to viewing properties on the market. This is probably the most critical of the Franklin TN buyer real estate viewing guidance.

Home Features

Create a wish list with things that are required versus those that are optional. Understand that no property may contain everything on your list and that you may need to prioritize your list. Ask your real estate professional for advice on what different items may cost or are usually offered in real estate within your price range. Assessing this information prior to showings will help make the process easier.

Advance Preparation

Research

Preview photos of properties on the Internet in advance and rule out ones that clearly do not match your criteria. If possible, drive by listings ahead of time. Understand different neighborhoods. In markets with high inventory, narrowing down selections will make the time spent seeing homes in-person less tedious.

Back-to-Back Appointments

Make good use of your time by planning visits to multiple listings on the same day. Your real estate representative can decide the optimal order for showing listings and take care of contacting listing agents and/or sellers to verify appointments. Try not to be too ambitious as it is easy to get homes mixed up with one another after awhile.

Advice During Showings

Franklin TN buyer real estate viewing guidance would not be complete without advice for, during, and after showings. If you immediately realize that a home will not work for you, do not waste any additional time viewing it. This allows you to spend more time in properties that interest you. Write down your thoughts during or immediately after a showing. List elements that you liked and did not like. These personal notes may help will help trigger your memory later. Use first visits to narrow down your list and return for second visits for final choices. You may recognize different features upon seeing a home a second time or at a different time of day.

Additional Franklin TN Buyer Real Estate Viewing Guidance

Real estate brokers know the area and understand how to best arrange property visits. Choose a broker that understands your needs and rely on that agent to assist you through the process. Your agent can also provide additional Franklin TN buyer real estate viewing guidance. This guide was compiled by Jim Eaton at Blueprint Realty, Inc. and is intended strictly as an introduction.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Why List Real Estate In Franklin TN During The Holiday Months

The real estate economy not only changes each year, but also from month to month. There are common misconceptions about listing a property during different times of year. So, why list real estate in Franklin TN during the holiday months?

Inventory & Competition

There is not as much competition during the the holiday months. Home buyers still have a need during the first few months of the following year, so the winter months are when they will get a home under contract. Being one of the limited properties for sale gives you a better likelihood of being selected.

Motivated Buyers

A previous survey by Realtor.com discovered that 79% of buyers looking during the holiday months were more serious. 61% consider lower competition for homes to be a benefit. Furthermore, potential buyers have extra time to see listings during the holiday months. Relocating home buyers also often use the holidays to start a real estate search. It is therefore likely to find homes going under agreement around Christmas or New Years Eve.

Why List Real Estate In Franklin TN During The Holiday Months

If you are unsure about selling your property during the holiday months, think about the opportunities you might be forgoing from buyers who truly need to locate a property and are visiting properties on the market. Holding off several months can result in your real estate being lost among the abundance of new properties for sale or needing to be listed for less due to the competition. Listings sell at all times of year, but the inventory and buyer demand will shift and affect selling prices.

This overview of why list real estate in Franklin TN during the holiday months is offered by Jim Eaton at Blueprint Realty, Inc.

For more information, contact Jim Eaton at Blueprint Realty, Inc at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Franklin TN Property Repairs Resulting In The Most Value

Franklin TN homeowners should assess the potential improvement in the value of their property versus the cost of specific changes before completing any repairs. Some repairs are more profitable than others. The following are recommendations on Franklin TN property repairs resulting in the most value.

Franklin TN Property Repairs Resulting In The Most Value

Home owners often aim to regain the full expense of repairs when they go to sell their house. This is a normal expectation, but unfortunately it is not what actually occurs. Different home renovations add different values, and that value can vary based on geographic areas. To get a general idea on property repairs resulting in the most value, below are a few nationwide statistics.

Averages for Mid-Range Repairs

These figures are from the Remodeling Magazine Report.

Repair Expense Increased Value Cost Regained
Roof Replacement $21,204 $12,257 57.8 %
Garage Addition $57,824 $33,089 57.2 %
Bathroom Upgrades $16,552 $10,293 62.2 %
Minor Kitchen Upgrade $19,588 $14,120 72.1 %
Vinyl Window Replacement $11,319 $7,692 68 %

Assessing Property Repairs Resulting In The Most Value

Another factor determining the value of projects is whether it is a mid-range or up-scale repair. Kitchen improvements, for example, can be performed in varying price ranges leading to a different return on investment. So, not only should you think about the area of improvement but additionally the amount of money to spend.

For more information on home updates and current Franklin TN property repairs resulting in the most value, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Checklist For Franklin TN Home Sellers Prior To Closing

As you pack up for an upcoming home sale, it is easy to overlook some important things. This checklist for Franklin TN home sellers prior to closing below can facilitate a smooth closing and move.

Schedule Mail Forwarding

You may notify the postal service ahead of time regarding your new address. This can be done at a local branch or on their website. Note that there are actually two different services available. A straight-forward change of address includes only a small charge of a few dollars when submitted online. There is an advanced service that costs much more but is typically not needed unless you need more than forwarding. You must still inform senders directly of your new address. Forwarding through the post office will only allow mail to reach you during a limited amount of time.

Contact Your Lender

If your mortgage payment incorporates amounts for property taxes, then there is an escrow account containing that money. When your property taxes are due, the funds are removed from the escrow account. If your upcoming closing will occur around the same time that the property tax bill is to be paid, you can tell your lender not to remit the payment. That same bill may be part of your closing costs, leading to an over payment. Double check this with the closing attorney to be certain. It may be a painful procedure to obtain a refund or you may not realize the mistake at all. Typically, any money left in escrow account is returned after the lender receive the payoff.

Call Utility Companies

Call each utility company to schedule cancellation of service. Most require sufficient notice. For utilities such as heat, a service person must come out to check the meter before sending the final bill. Other services, such as cable, may need you to drop off certain equipment. You might not find out this information until you connect with them, so try not to delay until the last minute.

Checklist For Franklin TN Home Sellers Prior To Closing

The checklist for Franklin TN home sellers prior to closing in this blog contains merely some of the major items to include. For additional tasks related to selling your property, consult your listing broker. He or she will make sure that you do not miss other important tasks.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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The Difference Between Interest Rate And APR For Franklin TN Home Loans

When looking for financing, you may see information on APR and interest rates. These are usually misinterpreted as being the same, but they are actually not. It is helpful for home buyers to analyze both. The following are details on the difference between interest rate and APR for Franklin TN home loans.

How Interest Rates Differ from APR

Interest rates determine monthly loan payments for the duration of a loan. This is usually the rate given by mortgage companies. It does not include the initial cost of a loan. Fees can vary between loan programs and lenders. For example, there can be pre-paid interest for one mortgage but not another. Other costs that might be included are mortgage origination and services fees. The APR combines the interest rate plus certain fees, so it is a better reflection of overall expense.

Why APR Is Important

When assessing different loan programs from the same or different lenders, the APR is a standard that can be used. You might be offered a lower interest rate with greater fees and a higher rate with low fees. The real cost includes both the up-front expenses plus what you pay in interest over the term of the loan. The APR can therefore assist with the evaluation.

Loan Amount Term Interest Rate Up-front Cost APR
100,000 30 years 5 percent 1,000 5.09 percent
100,000 30 years 4.5 percent 4,000 4.85 percent

How APR Figures Are Compiled

There are a few things that consumers should understand when it comes to APR figures. APR is compiled based on the length of a loan. If you pay off your loan sooner, the actual APR may be much different. Additionally, one mortgage that seems to have a lower APR than another might end up looking less desirable if the time period is adjusted. The best APR is not always the best option. Since most borrowers do not keep their mortgage for its full term, this can be important.

Loan Amount Term Interest Rate Up-front Cost APR
100,000 5 years 5 percent 1,000 5.41 percent
100,000 5 years 4.5 percent 4,000 6.12 percent

Additionally, certain APR calculations are not exact. For example, the rate on a variable rate mortgage will alter but that change is not predictable. The APR on these mortgages are based on the beginning rate.

More About The Difference Between Interest Rate And APR For Franklin TN Home Loans

To make an accurate comparison of your options, it is essential to obtain quotes close together in time (on same day if feasible) as interest rates constantly change. Also keep in mind that rates are subject to change unless you lock in. Always review the interest rate and APR jointly to better assess cost. A knowledgeable loan officer can provide other guidance on the difference between interest rate and APR for Franklin TN home loans.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Franklin TN Foreclosure FAQs And Information For Property Owners

There tends to be some misinformation on foreclosures. It is useful for current and future home owners to know what is fact and what is fiction. This article covers Franklin TN foreclosure FAQs and information for property owners.

Common Mistakes

You Must Be Behind to Receive Help

Home owners can start the process of loan modification and other assistance before missing any loan payments. These services evaluate your personal financial situation to determine eligibility.

There Are No Alternatives After a Foreclosure Notice Is Issued

Banks take a greater loss on foreclosure. Even when foreclosure proceedings have started, mortgage companies can attempt to allow you to stop foreclosure. Short sales are one possibility prior to a finalized foreclosure. They involve finding an offer on your property and asking the lender to accept less than the balance owed.

Foreclosures Complete Right After You Miss Just One Payment

The foreclosure notice is only the first step in the foreclosure process and it commonly is not issued until you have missed many payments. It will take a length of time for a lender to get through the necessary process to eventually repossess a property. Even though you do not need to immediately move out, you should start planning for it.

I Will Never Be Able to Purchase Another Home

Although a foreclosure is a deterrent for future mortgage companies and severely lowers your credit score, you can be able to buy real estate in several years. Use that time to increase your credit ranking. Also plan a larger required down payment and higher mortgage rate. This is how creditors will offset the risk of lending to you.

All of My Belongings Will Be Taken

Furniture, clothes, and other personal belongings are not taken. Only items affixed to the home are part of the foreclosure. Examples are flooring, hardware, and major systems. Think about what you would usually leave behind if you were selling a property and use that as a general guideline.

The Debt Is Forgiven After Foreclosure

The mortgage company will sell your property but may not get back the full amount owed to them. That difference is your responsibility. There may be ways for the mortgage company to “forgive” that amount. Speak to a local attorney to understand your options.

Franklin TN Foreclosure FAQs And Information For Property Owners

There are various other myths regarding foreclosure. Procedures can also vary from state to state. This article on Franklin TN foreclosure FAQs and information for property owners is only a generic overview and should not be interpreted as legal advice. Be sure to obtain legal advice if you are facing foreclosure, and think about doing so before being delinquent.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Information On Frequently Used Mortgage Lingo

Navigating the home loan process will be complex, particularly with all of the mortgage-specific lingo. Familiarizing yourself with frequently used mortgage lingo may help the process. In this blog you will find information on frequently used mortgage lingo.

Frequently Used Mortgage Lingo

Pre-approval

A pre-approval is something prepared by a mortgage company confirming the amount and loan program that a person may be approved for using their current earnings, monthly expenses, and credit score. This varies from a pre-qualification, which is simply an “unconfirmed” guess. Full approval is ordinarily given after someone is under agreement for a specific home.

Loan Commitment

Once a buyer enters into a Purchase & Sale Agreement on a home, a mortgage company reviews the personal documentation and the details on the real estate. A loan commitment is subsequently offered to declare that the general criteria have been met and that the loan will be officially granted pending some final items.

Appraised Value

An appraisal is required by a mortgage company to confirm the value of a home. It must be due prior to a mortgage commitment or final approval.

Closing Fees

Closing Costs

There are a standard set of expenses in connection with buying and selling a home. These are referred to as closing costs. They can include real estate commissions, transfer taxes, mortgage fees, legal charges, title insurance, and local recording charges. Pre-paid expenses such as property taxes are often also included in the closing cost terminology, but they are officially a different type of charge due at closing.

Title Insurance

Title insurance protects against defects with the ownership trail and the expenses associated with protecting your rights. Even though title searches are performed before a property transfer, there may be problems that affect your ownership to a home that are not easily included in a title search. Title insurance is a up-front charge that remains valid for the entire time that you remain the owner of a piece of real estate.

Private Mortgage Insurance (PMI)

PMI is mortgage insurance and is traditionally charged on loans for more than 80% of the purchase price. There is commonly an up-front charge and a recurring charge, both calculated against the beginning loan balance. How many years PMI remains is based on the loan program.

Additional Information On Frequently Used Mortgage Lingo

This blog offers information on frequently used mortgage lingo. There could be other terms that you encounter while obtaining a mortgage or during the home buying process.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Advice For Mitigating Sadness When Moving With Kids

Moving is generally a difficult event, particularly for children. To help children cope with the transition, there are certain things that you may do before, during, and proceeding the move. This article contains advice for mitigating sadness when moving with kids.

In Advance of the Move

Stress appears way ahead of moving day. Communication is important. Make sure your kids understand the process. Instill some excitement by asking them to help with planning. Mention all of the great things that will result from the change rather than what they are leaving behind.

While Moving

Change is difficult for everyone. As exhausted as you might be, stay enthusiastic. Your mindset has a big impact on your kids and their state of mind. Here are a few other things you may do on moving day.

Personal Belongings – During the move, remember to put aside some toys instead of making kids wait for the moving truck to appear and belongings to be unpacked. Those special items will minimize emotional distress.

Schedules – Moving will temporarily disturb regular routines. Try your best to continue routines with stories, meals, and other activities.

Make It Fun – Be creative and do things such as having a slumber party in your house on a night before the furniture gets delivered. This is fun for the kids and sleeping in the same space can be reassuring to have the family together during the first time in a strange home.

After the Big Day

Oftentimes distractions help minimize stress. Think of fun things to do once you are in a new house. This creates new memories. Here are some to try.

Movie Night – Watching a favorite movie makes your new home feel like the old one.

Explore the Area – Most families have a favored restaurant, park or place to hang out. Find new places to visit around the new house. Better yet, look for amenities that were not found near the old neighborhood. It will make the new home feel extra special.

Make the Space Personal – Most homes require painting, so let your kids to participate. Younger kids may pick color schemes and accent pieces and older kids could be more involved with the interior design. This participation will help them feel some ownership of their new home.

More Advice For Mitigating Sadness When Moving With Kids

The most important thing to keep in mind during a move is that kids will be sad and grumpy. Give them some leeway when they act out understanding that it is likely caused by the changes. Maintain good communication so they are encouraged to share their fears. This also provides you with an opportunity to assist them through it. Attempt the above advice for mitigating sadness when moving with kids and look for other interesting activities to do with your children.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Earnest Money Deposits For Franklin TN Property Purchases

When buying a home, part of the purchase process normally involves earnest money deposits from buyers to assure sellers that they are acting in good faith. Deposits should be submitted in a certain manner so as not to delay the underwriting approval process. This article provides information on earnest money deposits for Franklin TN property purchases.

Source of Funds

It is essential for buyers to use their own money for earnest money deposits (also known as trust money). Many financing programs actually require buyers to use their own money for all expenses related to the transaction. Buyers are typically asked to submit copies of bank statements verifying that the money was pre-existing in their account and that earnest money deposits were taken from that account. Accounts must also display enough balances to cover closing costs and down payments. Lenders will verify all of this during the mortgage underwriting process. Buyers failing to use personal funds may impact their likelihood of receiving a loan.

Gifted Funds

Certain types of loans permit monetary gifts to buyers from their family members. However, buyers should not ask family members to submit earnest money deposits for them. The proper procedure entails a gift letter, copies of bank statements from the family member verifying where the funds came from, and then account statements from the home buyer showing acceptance of the gift. Staying with proper procedures may minimize complications when underwriters process the paperwork.

Getting Ready for Earnest Money Deposits For Franklin TN Property Purchases

Buyers planning on a future property purchase can take a few precautions to prevent delays with their loan approval. First, they should make sure all money saved for earnest money deposits, down payments, and closing expenses remain in their own accounts and may be documented. Keep at least two months of account statements on-hand. The statements should not display any odd transactions (such as significant cash deposits). Lastly, when submitting earnest money deposits for Franklin TN property purchases, buyers should utilize funds from their own accounts. If receiving gift money, ask your mortgage officer for the necessary procedure before accepting those funds. These steps will prevent issues and result in easier mortgage approval.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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Franklin TN Single Family Homes On The Market

Single family homes are the most desired class of real estate. As its name implies, they are single unit dwellings. However, single family homes can vary quite a bit in design and features, accommodating the needs of diverse home buyers. The following is some introductory information on Franklin TN single family homes on the market.

Desirability of Single Family Homes

Single family living is desired for their separation from other homes. With few restrictions, it gives you the ability to change your home and truly make it your own. Most single families have a certain amount of land, enabling you to use both the outdoors and indoors. Financing programs tend to be most advantageous for single family homes as well (versus other types of homes).

Single Family Home Designs

Single family homes come in many designs. Colonial styles include two full levels of living area. Cape styles have two floors but usually with sloped ceilings on the second level. Ranch style include just one living level above ground. Split entry styled homes typically include stairs going up and down at the entryway with one finished floor above and a finished lower level. Some single families may actually be physically connected to others. These are the most well-known home styles, although there are an abundance of other types such as log homes and mediterranean.

Home Amenities

As with all types of home, single family homes can contain a range of features. Some will include guest quarters with additional living areas, updated kitchen features, additional rooms, built-in equipment, etc. Special amenities will make a home unique and draw certain groups of home buyers. The amenities often affect price range as well.

Franklin TN Single Family Homes On The Market

Most Franklin TN single family homes on the market are indexed in the real estate MLS system. Visit to immediately see an up-to-date list of Franklin TN single family homes on the market. If you are searching for something in particular, please give me a call. I can further narrow down the list to match your criteria. I can also auto-notify you of new listings that meet your preferences.

For more information, contact Jim Eaton at Blueprint Realty, Inc. at Cell/Txt: (615) 519-5515 / Office: (615) 538-8328 or jim@jimeaton.com.

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About Me

Jim Eaton is the CEO / Principal Broker of Blueprint Realty, Inc. in Franklin, TN. He is a Nashville native who grew up in Franklin and attended Belmont University. Jim spent nearly 15 years in the music business working in recording studios and touring the world as an artist tour manager. In 2014, he decided to spend more time at home and made a career change to real estate. He represents buyers and sellers from all over Middle Tennessee.

Contact Me

Jim Eaton - Blueprint Realty, Inc.
102 Beechlawn Dr.
Franklin, TN 37064

(615) 519-5515 - Cell/Txt
(615) 538-8328 - Office

jim@jimeaton.com