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Selling Secret #10 - Price your home right the first time

So many sellers make the mistake of pricing their home way too high at first with the idea that they can always lower the price later. But this is the wrong way to go! When a home is first listed on the MLS (Multiple Listing Services - a service your realtor has that shows all the homes available in our market) , that’s when you’ll get the most interest and buzz about your home. If you price it too high out of the gate, people will pass right by your listing and by the time you figure that out and lower the price, it can be too late. Not to mention, if you see something with its price marked down, sometimes your first thought is that something is wrong with that item. Same goes for a…

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…

Selling your home is a big step, and a necessary one to move on to the next stage of your life! Whether you’re downsizing after children, relocating to a new neighborhood or are due for an upgrade, the process of selling your home can be a tricky one if you aren’t prepared. Having sold more than our fair share of homes, here is our best advice for selling your home: 

Choose an experienced Realtor

Your home is one of the largest investments you'll ever make in your life, so it's extremely important that you choose the right agent to represent your interests. Choose someone who is experienced and knowledgeable about the market. Your realtor will have information like how many houses are currently on the market in your area and the average number…

Nathan Torgerson of The Torgerson Team at Keller Williams Realty was recently presented the honor of Most Closed Units By Agent for 2017 as well as the Diamond Award for the third year running for Most closed Production with Movement Mortgage. 

“Each year we recognize our top producing agents and teams for their outstanding accomplishments,” says Nathan Brown, chief leadership officer for Keller Williams Realty of Greater Downtown Chattanooga. “As an individual agent, Nathan Torgerson represented more closed units than any other individual agent. I believe that is a testament to the loyalty of his clients, which I think it is a result of the phenomenal customer service that The Torgerson Team gives to their clients and customers.”

With 92 units…

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…

Is it bad to sell your home during the holidays? It’s a question we get a lot. There is a myth surrounding the idea of listing that sellers should wait until spring to put their home on the market. In reality, this couldn’t be farther from the truth! Here are some reasons why NOW is the best time to list your home: 

1. During the holiday season there are typically fewer homes on the market. Less supply means less competition. Less competition means more money in your pocket. 

A study by online brokerage Redfin found that on average, sellers net more above asking price during the months of December, January, February and March than they do from June through November. Not only that, but the study found that homes listed in winter sold faster than…

We're headed into November with some exciting news - The Torgerson Team is growing! 

If you've bought a home with us, chances are you've worked with our former showing assistant Jordan Cook. Jordan will be joining The Torgerson Team full time as a Buyer Specialist.

Born and raised in Memphis, Tennessee, Jordan grew up loving sports, home-cooked meals and spending time with friends and family. Whether it was playing lacrosse in the backyard with his brother, playing fetch with his dogs or just relaxing on the couch with friends, he quickly realized how important a good home was. 

After graduating from the University of Tennessee, Jordan moved to Chattanooga and began the journey into the real estate industry. Coming from a family of commercial real estate…

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…