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The 5 Best Trails to Hike in Great Smoky Mountains National Park

Visit the Smoky Mountains and experience some of the best hiking trails in the country!

Knoxville is just an hour away from the Great Smoky Mountains National Park, the most visited national park in America! The sprawling ridges and forests, beautiful vegetation, diverse wildlife, and breathtaking views make it an amazing place to visit time and time again. Spring, summer, and fall are all good times to hit the trails with your family or favorite hiking buddies. There are so many hiking trails to accommodate every experience level, but here are a few of our favorites…

Middle Prong Trail

Interested in seeing waterfalls and some history? Middle Prong Trail might be for you, located in Tremont near Townsend. It passes three major waterfalls, numerous smaller falls, cataracts, and cascades. The trail spans 8.3 miles roundtrip with a total elevation gain of 1140 feet. The highest elevation is 3046 feet with a trail difficulty rating of strenuous. While it looks to be a gravel road, Middle Prong Trail was a railroad bed used to haul logs out of the area. Part of the trail passes through the former site of a lumber camp community called Tremont, which was one of the last areas in the park to be logged. This is a very popular hike and one of our favorites!

Alum Cave

Alum Cave is located at Newfound Gap Road with a roundtrip length of 4.6 miles or 5.1 miles if you continue to LeConte Lodge. It should take 3-4 hours to complete. The highest elevation peaks at 4955 feet with a moderate difficulty rating. This one may not be as family-friendly due to the plant and tree roots along the hike, plus a few steep sections. Also worth noting, Alum Cave is not a cave, but rather a jutting ledge of black slate formed over the trail to make it appear like a cave. The name Alum Cave comes from the deposits of alum found along the “cave” walls. Plan ahead and arrive early if you want to tackle this hike–it’s very popular and parking can be tough despite two lots to accommodate visitors.

Andrews Bald

This hike is on the shorter side, 3.5 miles roundtrip with an elevation gain of 899 feet. Get started at Andrews Bald from Clingmans Dome via the Forney Ridge Trail. The highest elevation here is 6310 feet. Andrews Bald Hiking Trail is somewhat strenuous due to the rocky terrain but is a perfect hike for fit families. Plan on about 3 hours total for this hike and prepare to see some of the most outstanding views in the Smokies. Hiking in the Smokys calls this hike, “one of the best”!

Rainbow Falls

Rainbow Falls is the highest single-drop waterfall in the Smokies and you should try to view them after long periods of rain for the best experience. Aim for first thing in the morning or in the later afternoon to take the best photos. The hike spans 5.4 miles roundtrip, with a total elevation gain of 1685 feet and highest elevation of 4285 feet. This is a moderately difficult hike with switchbacks and rocky sections. Access the trailhead just outside of Gatlinburg. Warning: Avoid climbing on the rocks near the waterfall due to slipping hazards caused by mist and algae.

Chimney Tops

Enjoy panoramic views and a cascading stream when you hike Chimney Tops Trail. The roundtrip hike of 3.3 miles is short and sweet, with the highest elevation peaking at 4753 feet. This moderately rated trail is located near Gatlinburg between the lower tunnel and “the loop” on Newfound Gap Road. The 2016 wildfire closed this trail for about a year, but it has since been reopened with a newly constructed observation point. The hike is steep and many hikers do not reach the top, but the first part of the trail isn’t too bad. The elevation gain of 1487 feet (960 feet in the last mile) can be compared to the rate of elevation gain found on some of the 14,000-foot peaks in Colorado. Watch a video of Chimney Tops Trail here.

Ready to take a drive from Knoxville and head into the Smokies for a hike? For the full list of hiking trails in Great Smoky Mountains National Park, including kid-friendly hikes and additional hikes that include waterfalls, visit https://www.nps.gov/grsm/planyourvisit/hiking.htm.

2019 Tax Filing Tips for Homeowners

What to know when filing your tax return this year…

The Tax Cuts and Jobs Act of 2017 was signed into law in late December of 2017. This tax reform bill is the most significant tax change in the United States in over 30 years. As the 2019 tax filing season is in full swing, take a few minutes to educate yourself on what has changed, and how it will impact your tax return.

From new tax brackets to changes in deductions and credits, there’s a lot of new information to absorb. Here are some helpful tips for homeowners on these tax changes and how they may impact your return.

Standard Deduction Changes

One of the biggest changes brought on by theTax Cuts and Jobs Act is with the standard deduction, which has nearly doubled. A “tax deduction” is any item that can reduce your taxable income. According to the Motley Fool, “Before the increase, about 70% of U.S. households used the standard deduction, but now it is estimated that roughly 95% of households will use it.” This means that unless your itemized deductions exceed the standard deduction, you should stick with the standard deduction.

Here are the standard deduction amounts for the 2018 and 2019 tax years:

Mortgage Interest

Yes, the mortgage interest deduction still exists under the Tax Cuts and Jobs Act, but there’s a chance it may not be as valuable as it was before.

Homeowners are allowed to deduct the interest they pay on as much as $750,000 of qualified personal residence debt on a first and/or second home. This has been reduced from the former limit of $1 million in mortgage principal plus up to $100,000 in home equity debt.

The Motley Fool notes that “the deduction for interest on home equity debt has technically been eliminated for the 2018 tax year and beyond. However, if the home equity loan was used to substantially improve the home, the debt is considered a qualified residence loan and can, therefore, be included in the $750,000 cap.”

State Income Tax or State Sales Tax

The IRS gives taxpayers the choice to claim either their state and local income tax or their state and local sales tax as an itemized deduction. Naturally, if your state doesn’t have an income tax, the sales tax deduction is the way to go. On the other hand, if your state does have an income tax, then deducting that will generally save you more money than deducting sales tax.

Tennessee has no income tax, but does have a “hall tax” — that is, a 6% tax on interest and dividends, which is specifically allowed by the state constitution. Tennessee also has a minimum sales tax of 7% but can be as high as 10% depending on the county (i.e. Knox County is 9.25%).

Use the IRS calculator to help easily determine your sales tax deduction, as you do not necessarily need to retain every single receipt from the year.

Capital Gains

There is good news for those of you who sold your primary residence in 2018 and owned it for at least 2 of the last 5 years. You are exempt from paying capitals gains if the net gain was less than $250,000 (single) or $500,000 (married & filing jointly)! Check out the article for more details…

Property Taxes

Property taxes paid on homes, cars, boats, airplanes or other personal property can be counted towards itemized deductions. This deduction and the deduction for income or sales tax are collectively known as the SALT deduction — that is, the “state and local taxes” deduction.

The Tax Cuts and Jobs Act limits the total amount of state and local taxes you can deduct — including property taxes and sales/income tax — to $10,000 per year. So if you live in a high-tax state or simply own some valuable property that you pay tax on, this could significantly limit your ability to deduct these expenses.

Tax Brackets

The Tax Cuts and Jobs Act also updates tax brackets. Here’s a look at what’s shifted, courtesy of H&R Block:

Overall, the actual numbers inside of these ranges have shifted. The tax brackets for 2018 are slightly broader, and rates are slightly lower. H&R Block notes that the new tax brackets mean that most taxpayers will pay less tax. That said, we always urge our clients to speak with an accountant to get a full understanding of their options for capital gains before filing their tax returns.

For the bigger picture and everything that has changed with the Tax Cuts and Jobs Act, we recommend a deeper dive into any of these helpful articles:

https://www.fool.com/taxes/2019/01/13/your-2019-guide-to-tax-deductions.aspx

https://finance.yahoo.com/news/2019-guide-tax-deductions-155000172.html

https://www.hrblock.com/tax-center/irs/tax-reform/new-tax-brackets/

Buying An Existing Home Versus Building A Home

Does buying an existing home or building a new one better fit your needs?

If you’re thinking about buying a home, then this question may have crossed your mind. Before answering, make sure to consider the pros and cons of building a new home versus purchasing an existing to determine which one fits your needs and budget. From up-front costs to resale, timeframes, and affordability, there are many factors to consider.

BUILDING A NEW HOME

Primary Costs

In Knox County, the average cost for a new home was $327,202 with a price-per-square-foot of $129. This is well above the national average. Based on a recent report from the National Association of Home Builders, the average cost for a new home was $237,760 with a price-per-square-foot of $118.

Building a new home will also cost you time. Based on the size and floor plan of the home, construction can take anywhere from 4 to 12 months. You may also encounter delays along the way that can push back your move-in date. If your timeframe to move is strict, then building a home is likely not the best option for you.

Hidden Costs

New construction buyers must also pay for:

The land to build on
Obtaining building permits
Excavation (especially if the land has not yet been developed)
Impact & construction loan fees
Overage costs related to changes in building materials and/or changes to finishes you make along the way

As a rule of thumb, you will pay more to build a home versus buying an existing one…

Maintenance

One of the primary benefits of building a home is that it is completely move-in ready on the day you move in. Appliances, systems, and the roof will all be new and under warranty. You should not have any significant costs or repairs for several years. In Knox County, builders must provide a comprehensive 1-year warranty on the homes they sell. This means that if you experience any issues with your home, the builder is required to address them.

Value Appreciation & Availability

While every real estate market is different, newer homes tend to sell faster than older ones. There are numerous reasons for this, but as a general rule of thumb, the newer the home, the fewer improvements or updates it needs. Hence it is more desirable to home buyers.

Due to the rising costs of materials and lower profit margins for builders, it is harder to find/build new homes at lower price points. You also need to find land (or a lot) in an area or neighborhood that you want to live in. In more urban or populated areas, this can be quite challenging. The land you buy must also be an adequate size to fit the house you want to build. You may also have neighborhood restrictions you must adhere to. In some cases, the Homeowner’s Associations must approve your plans before construction can begin.

BUYING AN EXISTING HOME

Upfront Costs

In 2018, the average sales price of an existing home in Knox County was $241,853 with a price-per-square-foot of $111. You’ll notice that this is much higher than the average price-per-square-foot of new homes at $129.

Maintenance

Depending on the age and condition, there can be major replacements and many repairs required with older homes. It is far more challenging to get a truly “move-in ready” home when you are buying an existing one.

Value Appreciation & Availability

In general, it is easier to gauge the value of an existing home because there are more comparable homes that have recently sold. Existing homeowners gain appreciation from an improving housing market, but also on certain improvements they make (i.e. replacing the roof, finishing the basement, updating the kitchen).

No matter what price point you’re buying in, you should have some existing home options to choose from. Also, you likely won’t have to worry about adhering to neighborhood restrictions because the home already meets those guidelines.

WHAT’S THE VERDICT?

There are many pros and cons for both building a new home and buying an existing home. The right decision will depend on your budget, personal preferences, and timeframes for moving.

Existing home buyers are not only fortunate enough to avoid lengthy construction timeframes, but they also enjoy the advantage of having more control over when they move. On the flip side, existing home buyers will likely have to settle on things that are not on their house wish list. In general, they must also be okay with older systems and appliances that will need replacement sooner than in new construction homes. Those who have very specific wants and needs should strongly consider building a home.

Ready to purchase your own Knoxville area home? HMG will be your guide through the process. Check out the current homes for sale in Knoxville!

2018 Knoxville Holiday Shopping Guide

Shop Local: The Guide to 2018 Holiday Shopping in Knoxville

‘Tis the season to shop local and support Knoxville small business

It’s that time of year again, the holiday season is officially upon us! This is a friendly reminder that the holidays ARE NOT a time to stress out or go into debt trying to please other people with expensive gifts. The holiday season should be a time of giving back and giving thanks with thoughtful gifts that come from the heart.

As we see a surge in Small Business Saturday participation and also momentum behind the #GivingTuesday movement, November is a big month for giving back on a local level. What better way to give back to the community and to your loved ones than by shopping local in Knoxville this holiday season.

Here are a few of our favorite places to curate gifts for everyone on your list:

Market Square Holiday Market: Market Square, Knoxville, TN 37901

Get all the festive feels at the Market Square Holiday Market in downtown Knoxville. Happening on the December Saturdays before Christmas each year (December 1, 2018 – December 22, 2018, from 11:00 AM to 5:00 PM) Buy from local artisans, food producers, food trucks, and farmers to knock out your holiday gift-giving list. From farm-grown greenery for decorating to hand-crafted gifts, you’ll love the community feel and selection of local gifts. For more details, visit: https://www.visitknoxville.com/event/market-square-holiday-market/7060/

The Southern Market: 5400 Homberg Drive, Knoxville, Tennessee 37919

The Southern Market Unique Interior Shops is a premier design marketplace with 40+ shops comprised of local merchants and artists all under one roof. They feature stylish interiors, gifts, and boutique fashions that your family and friends will love. Friendly warning that you’ll probably leave with a gift for yourself… because you deserve it! Visit https://southernmarketshops.com to learn more and stay up-to-date with holiday events and fun finds on Facebook at https://www.facebook.com/TheSouthernMarket/

Ironic Decor & Gift: 5054 Kingston Pike, Knoxville, TN 37919

With new arrivals coming in daily, this is a great spot to score unique finds for everyone on your “nice list” this year. Ironic Decor and Gift is a boutique store with fun home decor, jewelry, accessories, and much more! Drop by and catch the vibe at https://www.shopironicknox.com and follow along with #ShopIronicKnox on Instagram

CH Interiors & Gifts: 12556 Kingston Pike, Knoxville TN 37934

This local gift shop is known for its unique offerings and personal customer service. Each item is hand-picked by their family for yours. Check out the wide selection of seasonal home decor, candles, florals, greeting cards, jewelry, lighting, beauty products, books, gourmet foods, and so much more. They can also create custom gift baskets for an extra special holiday gift. New merchandise arrives weekly, so remember to add this to your Knoxville local holiday shopping list. Learn more about interiors & gifts to warm the heart and home https://www.chinteriorsandgifts.com

Shift the Holiday Shopping Routine this Year

Do things differently this year and focus on gifts from the heart that are sourced locally. There are hundreds of small businesses in the Knoxville area filled with thoughtful gifts perfect for friends and family. Be sure to check with your favorite local retailers for Small Business Saturday specials on Saturday, November 24, the day after Black Friday.

Looking for other ways to give back to the community this holiday season? Consider a donation to a local non-profit in the name of your friend or family member. We also invite you to join us on #GivingTuesday, November 27, 2018, by donating to Knoxville’s The Wesley House through the fundraiser which will be on our Facebook Page at https://www.facebook.com/hollimccraygroup

Connect with the Shop Small Knoxville Retail Facebook page at https://www.facebook.com/pg/ShopSmallKnoxville to stay in the loop with local shopping finds for the 2018 holiday season, and be sure to share your favorite finds with us on Facebook or Instagram by tagging @hollimccraygroup. Happy Holidays!

Owning A Home With A Pool

Owning a Home with a Swimming Pool: What You Need to Know

Have you ever thought about owning a home with a pool? They add a certain level of luxury and fun to the home, while also contributing to the home’s overall appeal. If you have considered owning a home with a pool, you should know the benefits of owning one and how to take care of it. Take a moment to learn the benefits of owning a home with a swimming pool, so you can “dive in” and take advantage of having your very own backyard resort!

An Easy Staycation

Taking a dip in the privacy of your own backyard pool at any time during the day or night gives you the convenience and flexibility of enjoying it on your own time, and terms. Forget the expense and hassle of the country club, community pool or a friend’s pool by having your own summer paradise without setting foot outside of your backyard. It’s the ultimate staycation! Not only are you saving money on a pool membership, but you can also customize the pool area to your tastes and create the ultimate backyard escape that meets your lifestyle.

Step-up Your Fitness Game

During the summer months, a swimming pool can provide a refreshing way to exercise without leaving the house and dealing with the gym. From swimming laps to aqua therapy, which has shown helpful for ailments such as arthritis and fibromyalgia, spending time in the pool is a simple, low-impact way to expend energy and burn calories.

The Value of a Swimming Pool

Owning a home with a swimming pool can help add to the overall appeal of your home when it comes time to sell, especially with buyers specifically looking for a home with a pool. If you live in a neighborhood where most of the homes have a pool, not having one could be detrimental to its resale value. That said, pools generally DO NOT contribute much, if at all, to your overall home value.

While the pool may not be appealing to all types of homebuyers, many families with kids or grandkids will be attracted to the prospect of a built-in entertainment feature. Kids can enjoy countless hours swimming with friends, so you can spend your time getting things done around the home and yard.

Keeping It Clean: Swimming Pool Maintenance Tips

Owning a swimming pool is one thing, but taking care of it is another. It’s crucial to keep up with routine care and maintenance to maximize its life and maintain a healthy swimming environment. If you know time is an issue, there are many local Knoxville area pool companies to help you with upkeep and seasonal maintenance. Here are some basic pool maintenance tips…

Clean your pool walls and tiles on a regular basis: Algae, mineral build-up and sunscreen can give your pool an unsightly appearance. Use a thick-bristled brush to remove any build-up.
Check your pool walls for cracks or tears: Cracks or tears in your pool can cause major problems that include higher water bills. They can also result in higher water bills because you’ll be refilling your pool on a regular basis. Inspect your pool for cracks and contact a pool maintenance company if you notice them.
Check your pool filter: When your filter is dirty, it causes your pool to be dirty. Use a hose to spray down a dirty filter. To remove oils and grease, which are sometimes not visible to the naked eye, soak your filter in a filter cleaner for 24 hours. Make sure to backwash your pool on regular basis as well.
Remove debris from your strainer basket: This will help maximize your pool filter’s ability to function.
Test your chlorine or salt levels: Check the chemical levels in your pool daily to make sure it is safe to swim. You also want to prevent unsightly (and possibly unhealthy) algae from growing.
Get a pool thermometer: This will make sure the water is at a suitable temperature to swim.
Winterization: During the winter months, it’s extremely important your pool is set up to endure the colder temperatures. Contact your local pool company to find out how best to winterize your specific type of pool for the winter.

If you’re interested in searching for a home in the Knoxville area with a pool, click here!

Living In Downtown Knoxville

An urban lifestyle in Downtown Knoxville

Have you been considering a more urban lifestyle? Downtown Knoxville is experiencing huge growth right now, making it an ideal time to buy downtown. New construction options, along with historic staples of the Downtown Knoxville area, provide many different living options to fit your needs and budget. Here are some of the hottest condominium communities in the Downtown Knoxville area right now:

Regas Square

Regas Square is a new, $40 million dollar mixed-use development at the end of Gay St that is “built to offer you the style of living you want. Atmosphere, amenities, proximity, all in a neighborhood setting that allows you to play or just relax.” Residences are located on the second through sixth floors with one, two, and three-bedroom options. It also includes 20,700 square feet of restaurant, entertainment, and retail space on the street level.

The Residences At The Tennessean

Perfectly situated alongside the city center’s largest public greenspace at World’s Fair Park, The Residences at The Tennessean offers 12 discerning buyers an unrivaled opportunity in vibrant downtown Knoxville. This limited collection of personal luxury residences redefines the city’s standard of urban living, with contemporary style and superior finishes.

The Candy Factory

Sitting on World’s Fair Park Drive, this historical five-story brick structure was built circa 1916. It was home to the successful candy manufacturers, South, Littlefield & Steere Company until the business closed in 1933 and moved to Clinch Avenue. The building was renovated in 2007 is now a $10 million mixed-use development, sitting adjacent to the Waters of the World water feature and the Knoxville Museum of Art. The building includes ground-floor retail with 47 contemporary residential condominiums that are some of the most affordable in Downtown Knoxville.

The Holston

Luxury living in the heart of Downtown! The Holston is a historic, one-of-a-kind landmark that touts itself as having stunning residences with extraordinary views. The building has been converted into 42 luxury condominiums and sits right along Gay Street. One, two, and three-bedroom floor plans are available, with all units boasting an abundant amount of windows with unobstructed views of Knoxville and the Smoky Mountains.

Visit downtownknoxville.org to stay current on upcoming events, places to eat, shopping, and what’s new in the Downtown Knoxville area. Interested in browsing what’s for sale downtown? Check out the latest listings in downtown Knoxville!

5 Reasons Why Living in Knoxville ROCKS!

This list could go on forever, but here are some of our favorites…

#1: Affordable Living

The cost of living in Knoxville is low compared to other parts of the country. In fact, Knoxville just ranked #8 on Realtor.com’s list of the 10 Best Affordable Small and Midsize Cities to Live In 2018. Simply put, you’ll be able to enjoy a higher quality of life for much less money than you would in other cities and states. That means more opportunities for travel, housing upgrades, and much more.

#2: Outdoor Activities

Knoxville’s proximity to areas such as Big South Fork National Park and the Great Smoky Mountains National Park allow for outdoor enthusiasts to enjoy hiking, boating, fishing, breathtaking views, unique wildlife, and many other fun activities. Our next blog will cover in more detail some of our favorite places to enjoy the sunshine and fresh air in the area. Until then, check out our list of 6 state and national parks close to Knoxville.

#3: Tennessee Sports Culture

The sports scene is alive and well in Knoxville. US News & World Report points out that sports enthusiasts will enjoy cheering on the Tennessee Smokies (AA affiliate for the Chicago Cubs), the Knoxville Ice Bears professional hockey team and the very popular SEC-affiliated University of Tennessee Volunteers. You’ll find our tailgating tips helpful once football season rolls around again!

#4: Moderate Climate, Minimal Snow

This is a selling point that anyone in New England or the Midwest will appreciate. Sperling’s Best Places offers a nice snapshot of the overall climate and weather in Knoxville. To sum it all up, on average there’s less rain and far less snow in Knoxville than in other parts of the country, and an average of 204 sunny days per year. The July high temperature is around 87 degrees, and the January low is 28 degrees on average. Not too shabby when you consider the Arctic Winter experienced in many parts of the country last year!

#5: History, Dining, and Culture

Knoxville boasts a rich history and cultural scene. It’s fun to explore how Knoxville got to where it is today at one of 20 local museums, numerous performing arts venues, and historic neighborhoods. Local restaurants and breweries offer plenty of options for residents and visitors of all ages! Downtown Knoxville’s Market Square is one of our favorite places to enjoy a good meal and take in a night on the town. You’ll also love the local events offered in Knoxville, particularly in the springtime. Click here to discover 14 East Tennessee spring festivals to check out in 2018.

Sidenote: Local Love

Have you searched the #KnoxRocks tag on Instagram? It’s a fun way to get a visual perspective on why we all like to call Knoxville “home.” We also recommend connecting with local bloggers to stay updated on the latest local happenings. Here are a few of our favorites:

Knoxville Moms Blog

Visit Knoxville Blog

Knox Foodie

Investment Property Tips

Buying investment property: What you need to know!

Follow these tips to find the right investment property…

We firmly believe that real estate is one оf the best ways to build your wеаlth. Aside from helping to diversify your investment portfolio, most investors tend to have more control over their returns from real estate than from other investment types. If handled соrrесtlу, thе right dеаl саn a yield huge return on your investment. That said, before buуіng any investment рrореrtу, fоllоw thеѕе tips to hеlр уоu gеt ѕtаrtеd.

Be Prepared

It is important to have your financing and/or available funds in place BEFORE you start looking to purchase an investment property. If the right property hits the market, you want to be able to jump on it immediately. To be a successful real estate investor, you should get pre-qualified for an investment property loan through your bank and have a separate account with your investment funds before making any purchases.

Set Realistic Goals

Another key step to making smart real estate investments is making sure you know exactly what your long-term plans will be. Are you planning to buy the property, renovate it, then sell it (a flip)? Do you plan to hold onto the property and rent it? Do you have sufficient funds to complete the renovations and repairs on the property you’re looking to buy? These are all questions you should answer BEFORE making any offers.

Do the Research

Rеѕеаrсh іѕ еѕѕеntіаl whеn buуіng investment рrореrtу. You need to have a solid grasp on the local real estate market conditions, current comparable home values and rental rates in the locations you want to invest in. This is the step that will determine how much profit/return you’ll make from your investments.

PRO TIP: It is generally NOT a good idea to purchase an investment property in your own name. You’ll want to consult with a qualified attorney to set up a special type of legal entity (LLC or Corporation) to hold your real estate investments to lessen the risk to your personal assets and provide you with certain tax benefits.

Establish a Budget

Make a budget to see if you can actually afford the risks associated with the investment while still maintaining your current quality of life. Prepare to have a large down payment (typically 15% to 25% of the purchase price) and a good credit score. If you are buying a property that you plan to rent, be sure you have the available funds to cover the mortgage payment and upkeep while the property is vacant.

You also need to put together a project budget for each investment property you want to buy! Start by determining how much you want to make from either the sale of the property or from the rent received each month. You’ll then need to accurately determine the various costs involved for renovations, routine maintenance, taxes, insurance, utilities and loan interest. We always recommend having a competent contractor give you an estimate for the scope of work BEFORE you make an offer on any investment property. Once you’re confident in your budget, then you can make a smart decision on whether to move forward with purchasing the investment property. Don’t forget to build in at least 10% for unforeseen costs within your budgets!

Call The Experts

HMG can help make sure the investment properties you buy are the right ones. We have extensive experience working with real estate investors. We can also provide you with first-hand knowledge of our own real estate investment projects to ensure you’re maximizing your returns. Send us a message or call us at (833) HMG-SOLD to set up a consultation!

Home Staging Tips To Help Sell Your Home

Maximize the appeal of your home…

What is Home Staging?

Home staging is the act of preparing a private residence for sale in the real estate marketplace. The goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money. –Wikipedia

Home staging, when done correctly, is a valuable tool that can lead to more money in your pocket at the closing table. Whether you do it yourself or hire a home staging company, you absolutely MUST invest some time (and possibly money) into staging your home for sale. Trust us, you’ll be happy with the outcome!

Should I Hire a Professional Home Stager?

There are definite benefits to hiring a professional to help stage your home. Aside from making your home look better in photographs and open houses/showings, the return on this investment will be seen in the price that your home commands when the offers start coming in. Here are a few reasons why you should consider a home staging consultant or company:

Perspective – A professional does not have the same personal attachment to your belongings and furniture and will be able to create a clear and defined “look” that is more attractive to buyers and less personalized to your taste. The goal will be to create a look that speaks to your home as a whole, not just one room at a time.

Experience – Reputable home stagers are very good at their jobs and have most likely done it for a long time. Not only do they know exactly what to do, but they will also be able to get your home ready to bring buyers in faster than you’d expect. The home stager’s expertise in traffic/crowd flow and design fundamentals lend themselves to success when attempting to get top-dollar.

Resources – A professional home stager will know exactly what they need to improve your space, and exactly where to get it. From furnishings to art, an expert stager will acquire everything needed to make their vision a reality and get positive feedback from potential home buyers.

DIY Home Staging – Where to Begin?

Contrary to popular belief, home staging does not require a huge investment but it will take some time if you’re doing it yourself. These simple tips can be very helpful to get your home market-ready:

Clean & De-clutter – This tends to go without saying. Perform a deep cleaning of your home that includes the insides of cabinets and closets and all those corners you tend to ignore. Put personal items away in storage boxes and try to maintain a neutral look that isn’t overly tied into your personal tastes.

Make it Cozy – Home staging is successful when potential buyers can already envision themselves living in the space. Set the table, bake some cookies, and place fresh flowers around the home to give it a warm, happy atmosphere. Be sure that lighting around the home is adequate and always open the blinds/curtains for showings. A clean and well-lit home that smells nice is always more appealing than the alternative.

Furniture and Walls – Move furniture away from the walls to make each room appear larger. Consult the web if you need some inspiration! Opening the space will help the flow through your home and make it seem less “boxed-in.” A new coat of paint is also not a bad idea, keeping in mind that neutral colors always work best.

HMG works with some great local home stagers, so hen you’re ready to sell your Knoxville-area home, contact us so we can help you get started on the path to home selling success!

Pricing Your Home Correctly: Why It Matters

How much should you ask for your home?

Pricing a home correctly is the main factor that determines how fast and how much money it will sell for. Of course one wants to get the full value for their home, but overpricing it can have unintended consequences. The first step to getting the best price is to determine your home’s value by taking the following factors into consideration:

Your home’s value may depend on the recent sales prices and current list prices of comparable homes in your area. After reviewing these prices, your price can be properly adjusted according to current market trends and the specifics of your home (ex. square footage, bedroom count, age, certain improvements).
Buyers tend to look in the price range determined by their monthly budget. They’re are often very knowledgeable about the homes in their price range and purchase one by comparison. Above market asking prices tend to be an immediate turnoff and will turn away most buyers.
Inviting a potential buyer to make an offer shows that you are willing to negotiate. However, if your asking price is too high, then the buyer may not see the point in even making an offer and move on to another property.
It’s necessary to offer pricing, terms and conditions that are competitive in your market. This will help you sell faster and for more money.

Accurate pricing sells homes faster and for more money

If your home is priced below market value it will generally sell faster. However, leaving money on the table doesn’t usually sit well with most sellers.

Pricing your home too high typically results in far less showings, and most of those do not generate offers. It also results in a lower sales price when the house finally does sell. According to extensive research done by Keller Williams Realty International, homes that required 1 or more price reductions sold for less money than homes that required no price reductions! For example, homes that required 3 price reductions sold for 88% of the original list price and took, on average, 146 days to sell. Homes that required no price reductions sold for 99% of their original list price and took, on average, 40 days to sell.

The conclusion? Pricing a home correctly from the start ensures that your home will sell in the shortest time possible and for the best possible price. Sounds great, right?!

Selling your Knoxville area home for the highest possible price

The Holli McCray Group consistently sells homes faster and for more money because we know how to properly price our listings. Our honest and accurate approach to pricing homes in the Knoxville area provides our clients with a solid understand of what their property is truly worth in today’s market. We have a team of experts who have provided values for hundreds of properties in our area using the most accurate and relevant data, so you can feel confident in our home value opinions. We offer no-obligation home valuations, so you find out your home’s current value even if you don’t plan on selling it right now.

Learn more about selling your home in Knoxville, TN and contact us when you’re ready to sell. Curious about your home’s value? CLICK HERE for a general idea of what your Knoxville area home is worth.