Jay Serves You Some Million Dollar Secrets in Chattanooga - Part 3 of 4
Categories: Chattanooga Real Estate News, Flavors of Chattanooga, Things to Do in Chattanooga
Jay Zuckerman - Guest Blogger
(Third in a Four Part Series)
*Please note that I am not compensated for any product mentioned*
“Squeezin’ every nickel
Pinchin’ pennies ’til they holler
That’s the way you live on a blue collar dollar
Blue collar dollar.”
Kevin Gordon - Blue Collar Dollar
#5 Grocery Store Savvy
When I’m at the grocery store check-out line, I feel like Fred Sanford when I see the final price for my groceries. I just want to grasp my heart and yell, “This is the big one, Elizabeth!”
Even though prices are increasing at the grocery store for most products, you will save money if you follow these tips.
If you don’t read anything else in this piece… please take the following to heart. Buy store brand!
I will admit, I once was an elitist when it came to store brand food. Cheap generic ketchup? Why would I give up my Heinz for something that would probably taste like watered-down vinegar with food coloring? I figured any kind of store brand maple syrup was Mrs. Butterworthless.
However, my budget started to tighten in the current economy. My local Publix and Kroger started advertising cheap prices on their own products. Guess what I found? Most of their products are equal to, if not better, than name brands.
Not only can you save on basic items at these grocery stores, Kroger now offers premium store brands. They make great meals. Publix’s prepackaged microwavable meat products, canned vegetables, and condiments are more cost-effective and taste better than comparable corporate brands.
While not every store brand has comparable taste to corporate products (I’m not leggo-ing my Eggos), try some store products. Your taste buds won’t notice the difference and your wallet will thank you.
Also, this should go without saying. Always buy store-brand for non-edible products. There’s no difference between corporate and store plastic utensils and napkins other than price.
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Improved Conditions to Begin in 2009
Categories: Chattanooga Market Conditions, Chattanooga Real Estate News, Mortgage and Finance
By Angel Sherlin, Greater Chattanooga Lending
Conforming mortgage rates ended 2008 at the lowest levels in decades. One reason is that inflation is not a concern right now due to the current economic weakness and the decline in energy prices. In addition, the Fed has begun to purchase mortgage-backed securities (MBS), increasing the demand. Mortgage rates are generally determined by the price of MBS. On November 25, the Fed announced a plan to purchase as much as $500 billion in MBS, and mortgage rates have dropped significantly since the announcement. Low inflation and Fed purchases of MBS are expected to continue in coming months.
Along with low mortgage rates, homes have reached their best level of affordability in many years, according to the National Association of Home Builders (NAHB). The NAHB index compares the cost of paying for a home, based on average home prices and mortgage rates, to the median household income. Increased affordability allows more people to participate in the housing market, which should boost demand for new and existing homes.
The consensus outlook is that the economy will begin to improve during 2009. In addition, both the Mortgage Bankers Association (MBA) and the National Association of Realtors (NAR) expect the housing market to improve next year. The NAR predicts that both the number of existing home sales and home prices will increase in 2009. The combination of a rebounding economy, low mortgage rates, and affordable home prices provides good reason to expect an improved housing market in 2009.
For more information please call Andy at 423-664-1818 or send an email to Andy@AndyHodes.com.
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A Great 2008 a Better 2009!
Categories: Chattanooga Real Estate News, Flavors of Chattanooga
The Scenic City Scoop Chattanooga Tennessee Real Estate Blog Team
To all our friends, family, clients and fans of the Scenic City Scoop,
We all would like to wish you and your families a very Happy and Healthy New Year.
Andy, Kacey, Stephanie and David
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Chattanooga Real Estate Debate - Paint vs. Wallpaper
Categories: Chattanooga Real Estate News, For Home Sellers, Home Maintenance
By David Israel, Business Manager
Let me start off this article by stating that I do not show houses, however, I have been asked the question on numerous occasions, “will my house sell faster if I take down my wallpaper and paint the walls?”. My answer is always YES - and everyone on the team concurs! I have read a few articles on the subject of Paint vs. Wallpaper and there are distinct advantages to having wallpaper on your walls. There are also many disadvantages.
In the Chattanooga real estate market, most buyers these days are looking for simple neutral painted walls. Wallpaper is just a turnoff to most of the buyers in today’s market. Remember, I always say that you only get a first impression once. Wallpaper usually is a bad first impression. I don’t want to knock wallpaper, I grew up with it all over my house (ended up trying to take it down myself as a teen-ager, what a disaster!). There are so many colors, textures and designs that you can choose from. I feel that wallpaper is an expression of an individuals personality. There are some beautiful homes that I have visited in Chattanooga that are well decorated and the wallpaper is beautiful. If people didn’t like wallpaper there wouldn’t be thousands of companies selling the product.
So, what is my point. Selling real estate in Chattanooga can not have a personal expression of one’s self. A house must be staged to sell. In my opinion that means tear the wallpaper down all over the house and paint the walls.
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Jay Serves You Some Million Dollar Secrets - Part 2 of 4
Categories: Chattanooga Real Estate News, Flavors of Chattanooga, Things to Do in Chattanooga
(Second in a Four Part Series)
Guest Blogger - Jay Zuckerman
*Please note that I am not compensated for any product mentioned*
Hard times, in the middle of your road
Hard times, creeping up on the good folks you know
Hard times, living down where the rest of you know
Hard times, from the California Hills to the Cumberland Road
Ryan Bingham - Hard Times
#3 Your Local Library
Is the cost of $25 hardcover books or $15 for paperbacks at bookstores becoming a burden on your wallet in this current financial environment? Remember that building you would go to in the 1980’s to gather information for an essay and inevitably get distracted by the latest issue of Sports Illustrated? Yes, it’s your municipal library. In Chattanooga, we have the Chattanooga-Hamilton County Bicentennial Library with a large downtown library and five satellite and branch locations.
If you are a Scenic City denizen, You can become a member of the Chattanooga library for free.
The Chattanooga-Hamilton County Bicentennial Library has a terrific online interface which allows you to check out a book from the convenience of your own home. Live in East Brainerd and don’t want to drive downtown to pick the book up? You can choose where you want to pick up the book at no cost. It takes at most two business days for the book to arrive at your preferred branch.
If someone else has the book you want checked out, you can place a hold online. You will receive a postcard in the mail when it is available.
But wait there’s more: The Chattanooga-Hamilton County Bicentennial Library has many best sellers (usually fiction) available at their front entrance. For a nominal donation, you can check the book out for a week.
But wait there’s even more: You can apply for courtesy cards at many University libraries. At UTC, you can obtain a University Library Card even if you are not a current student. Alumni, dependents of faculty and staff, Hamilton County teachers, and students at the University of Tennessee or any Tennessee Board of Regents school can also receive a UTC Library card at no cost.
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Fed Statement Help Mortgage Rates
Categories: Chattanooga Real Estate News, For Home Buyers, Mortgage and Finance
By Angel Sherlin
Thanks largely to Tuesday’s Federal Reserve statement, the historic drop in mortgage rates over the last few weeks continued a little further this week. Lower than expected inflation data from the November Consumer Price Index (CPI) 
report also was favorable for mortgage rates. According to Freddie Mac’s weekly survey, average 30-year fixed conforming mortgage rates fell to the lowest level in 37 years. Mortgage rates turned slightly higher late in the week, however, raising the question of whether the downward trend will continue.
In a unanimous vote, the Fed cut the target Fed Funds rate from 1.00% to a range between 0.00% and 0.25%. The 75 basis point cut was larger than the consensus forecast for a 50 basis point cut. According to the statement, the Fed will employ “all available tools” to stimulate economic growth. Most notable for the mortgage industry, the Fed mentioned the option of expanding the purchase of large quantities of mortgage-backed securities. Mortgage rates generally move based on changing levels of demand for mortgage investments. Immediately following the release of the statement, mortgage rates dropped due to this expected increase in demand.
In the housing sector, November Housing Starts fell -19% to a record low. Building Permits, a leading indicator, showed a similar decline. The slowdown in the building of new homes will help reduce the inventory of unsold homes on the market.
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