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Many people think that renting is less expensive than owning their own home. But as it turns out, it’s actually cheaper to pay a monthly mortgage payment than a month’s rent. 

According to a study done by the personal finance website GOBankingRates.com, the median monthly rent price for a single family home was $1,195, while the average mortgage payment was $934—a difference of $261! What could you do with an extra $261 a month?

Taking the leap from renting to buying a home is one of the biggest financial decisions a person can make, but mortgage rates are still historically low, making now a great time to buy. It’s also gratifying for homebuyers to see their mortgage going towards something that is theirs, as opposed to throwing away money…

After months or even years of looking at listings in your chosen area, you've finally found the home of your dreams. Now, all you need to do is get everything you own into boxes and sent over to your new property.

Unfortunately, moving is often the most complicated, exhausting, and stressful part of buying a new home. All you want to do is enjoy the beauty of the house you've just bought, but instead, you're worrying about things like packing tape and whether you've left anything behind. While there are few things that can get rid of all the concerns that come with moving, there are some ways that you can reduce your anxiety and enjoy the moment at hand. The following tips will help you to successfully embrace the start of your new life.

1.    …

Looking back on 2017, we can see just how booming Chattanooga’s real estate market really is. With low home inventory and plenty of people either relocating here or choosing to buy a home, there are great opportunities for both buyers and sellers in todays market. Here’s what we know looking back on 2017: 

1. Over $2 billion sold in the Greater Chattanooga and North Georgia areas

Chattanooga and North Georgia’s real estate market was busy for 2017, with no signs of a slowdown as we make our way into the new year! It’s a great time to be either a buyer or a seller in our local market. 

2.  The Torgerson Team sold homes in an average of 25 days on market (compared to Chattanooga’s overall average 59 days on market)

Because home inventory is…

Buying a home can be stressful, especially if you’re a first-time home buyer. If you’ve been considering buying a home, now is a great time! To help you get ready for this big life decision, we’ve gathered some of the most important tips you should know before you buy: 

1. Start saving for a down payment early 

There are plenty of mortgage programs that offer as little as 3% down on a new home—but by putting less than 20 percent down, you’ll be losing a lot of money in the long run. If you borrow more than 80 percent of the value of your home, you normally have to pay for private mortgage insurance (PMI) to protect the lender. That PMI typically costs between .5-1 percent of the loan amount, which may not sound like much, but if if your loan balance…

We're excited to have again earned the distinction of being handpicked by Three Best Rated as one of the Top 3 Real Estate Agents in Chattanooga. 

The candidates for this honor are chosen through a 50-Point inspection that includes everything from checking reputation, history, complaints, local reviews, nearness, satisfaction, trust and cost to general excellence. From this, the highest rated agents are chosen. This isn't a distinction you can buy; it's one you have to earn! 

"We love what we do here at The Torgerson Team, and it's always nice when someone notices," says Nathan Torgerson. "Thank you to our clients for all of your positive reviews and for trusting us with your business!"

For more information or to see the Three Best Rated listing,…

In theory, buying a fixer upper is a great idea! If you want to live in a certain area and can’t afford a house in move-in ready condition, or if you’re one of those people who love the charm of an older home, it actually might be your only option. But ask anyone who has made it through a major renovation, and you’ll find out that you might be in for a bigger headache than you could have imagined. Before you set out to do your remodel, here’s some need to know advice to help you make it through. 

1. Choose wisely 

Location, location, location. You’ve heard it before, but when it comes to buying a home, it’s maybe the best advice we can give. You can have an amazing home in a less than ideal location, and your odds of resale go down immensely. Be…

Buying or selling a home is one of the most important financial decisions you’ll ever make, and the real estate agent you choose to help you is going to make all the difference! But with a market flooded with Realtor and real estate agent options, how do you choose? Here are the most important boxes to check in the process: 

1. Make sure the agent is full-time, not one who does real estate part time on the side

You want to choose an agent that is fully invested in their business, and therefore, you! Someone who does real estate on the side is not going to be fully committed to working for you and will instead have other things—like their full-time gig—taking priority. 

2.  Avoid hiring a relative

It can get a little personal when you mix…

If you were looking to buy a home or refinance, you might want to start thinking seriously about it soon! 

Mortgage rates are holding at a low for 2017, with a 30-year fixed loan at 4% interest. To put it into perspective, the average rate for a 30-year fixed mortgage in June 1987 was 10.54%!

Although not the lowest they’ve been this year, this rate is exceptional, and it seems to be holding for the time being. However, the lack of movement by fixed mortgage rates may be the pause before they begin to ascend once again. 

"Experts in the field expect that mortgage rates will remain at this plateau for now or will rise in the near future," says Christina Lane, senior mortgage loan officer with Movement Mortgage. 

Redfin has now updated its…

Buying your first home is really exciting … but also a little terrifying. It’s not a choice you want to get wrong. Here are some of the worst mistakes home buyers can make and how to avoid them! 

1. Looking for the home yourself 

You might be amazing at searching sites like Trulia and Zillow for potential homes, but what you probably don’t know is sometimes that information is totally incorrect. So you can find a home you love at the price you need, and once you contact someone about it, you might find that it’s an old listing that has already been sold, has an incorrect price, etc. Yikes! A Realtor will have access to your entire area’s MLS (Multiple Listing Services) which will have every home for sale in the market and its current data and…

Whether you’re buying a home or looking to sell yours, chances are you’ll come across your fair share of real estate jargon. Oftentimes realtors will use acronyms as part of their listings, and rather than having to look up every word, we wanted to bring the complete list of most-used terms to you! Check out our collection of real estate lingo so you look like a pro for your next move. 

3B/2.5B - Three bedrooms and two and a half bathrooms. In order to be called a bedroom in our area, the room must be a sleeping area with a window and a closet. A full bath is a room with a toilet, sink and bathtub. A half bath otherwise known as powder room only has a toilet and a sink. 

Appraisal - An appraisal is an unbiased professional opinion of a home's…