Expert Advice on Updating Your Home for Sale

Downsizing? Thinking of selling your home? Experts offer advice on home updates to maximize your return at sale. Most recommend that sellers not undertake major remodeling as a means to improve sale price as remodeling costs are unlikely to be recovered at sale. However, major remodeling is not the same as repair and sellers should be aware that worn and broken furnishings have a strong negative impact on buyers. Fortunately, many repair costs can be recovered at sale and some updates may help you move your house more quickly, as well.

 

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  • Before you begin, know that the "secret to successful pre-sale home remodeling is to keep up with the Jones’, but never surpass them. Whether you want to make more money than you spend, or just recoup your remodeling expenses when you sell your home, know what’s standard in the neighborhood." Also, whatever you undertake, keep it "neutral, clean, and classic" - now isn't the time to spring for trendy colors!
  • Sellers are likely to recoup most or all of the costs for minor bathroom improvements, such as an updated sink or toilet. By replacing a cabinet sink with pedestal version or replacing the old tub with a nice shower, bathrooms look updated and appealing to buyers. Remodeling Magazine's 2005 data show the average cost recovered for minor bathroom improvements was 102.2 percent.
  • Buyers form first impressions when they drive up to the home and worn or drab siding can be a deterrent, even when interiors are attractive. Siding replacement can help move your home and the likelihood of recovering expenses is high. Remodeling lists the average recovered costs for vinyl siding replacement at 95.5 percent and the average recovered costs for fiber cement siding at 103.6 percent.
  • A minor kitchen update is a good bet - if you know when to stop. "Reface the cabinets with new doors and drawers, put in new appliances, update with resilient flooring and laminate countertops and finish with neutral wall paint" but, again, don't spring for amenities that surpasses your neighborhood's standards. Average recovered expenses for minor kitchen updates: 98.5 percent.
  • If square footage is an issue, consider converting your attic space to a bedroom with a small bathroom. "The payoff for remodeling this existing space is higher than the payback for adding new space. Putting on even a modestly priced master suite addition costs typically costs about twice as much as finishing an attic and the return (82.4%) is lower." Average recovered expenses for attic conversion: 93.5 percent.

Four projects not likely to pay off include remodeling to up-scaled kitchens, home offices, and master bedrooms, and family room additions. Budget tight? Consider snazzy minor repairs such as painting, removing carpet from hardwood flooring, spiffing up the yard, or replacing old light fixtures. A word of caution: Before you break out the hammer, check the data for your area as recovered expenses are national averages.

East Tennessee: Affordable Healthcare, Utilities, Real Estate

The Council for Community and Economic Research (C2ER, formerly ACCRA) reports that Knoxville’s costs of living are well below the national average. Recognized by the U.S. Census Bureau, the US Bureau of Labor Statistics, CNN Money, and the President's Council of Economic Advisors, C2ER reports quarterly data on consumer goods and services from over 300 metropolitan and nonmetropolitan cities across the United States. Data collected from these cities is averaged and individual cities are then compared to that standard. The value reported for each city appears as a percentage of the national average.

Knoxville Tennessee

When compared to the national average, Knoxville excels in all observed categories: housing costs are reported at 20% below average; utilities are 10.4% below average; transportation costs are 13% below average; healthcare costs are 11.4% lower; grocery items are 9.2 % lower; and miscellaneous goods and services are 6.2% lower than the national average. With a composite index of 88.2, Knoxville’s cost of living is, in some cases, considerably lower than other cities in the Southeast: Nashville’s scored 95.1; Louisville, KY, scored 97.6; Chattanooga scored 90.9; and Atlanta scored 95.3. Compared to cities outside the Southeast, Knoxville fared even better: Pittsburg scored 104.1; St. Louis scored 111.1; and Columbus, OH, scored 98.0.

Not limited to Knoxville, the entire East Tennessee region enjoys low consumer goods and service costs leading to a better quality of life for all. For example, regional residential electricity rates are 22% below the national average and regional healthcare costs are 18% below average (the state as whole ranked sixth in the nation in cost and availability of medical facilities). Low cost of living, combined with the area’s natural beauty, good climate, job availability, and excellent educational opportunities has brought national recognition. For example, in 2004, Places Rated Almanac ranked Knoxville the best place to live for cities with populations less than one million and, in 2005, Expansion Management magazine recognized the Knoxville metropolitan area as one of the top 50 places in the country to live and work. Low costs of living and Tennessee’s tax structure (no state income tax!) makes East Tennessee an affordable place to live with a higher quality of life than most other areas in the country.

Exceptional Residential Subdivision in Lenoir City, TN: Harrison Woods

Loudon County, known for lakeside living on Tellico Lake and golf courses at Rarity Bay, Tennessee National, and Tellico Village, is quickly becoming a popular destination for a variety of home buyers both locally and nationally.  One consideration that is becoming increasingly important to buyers in Loudon County is proximity to shopping and medical care. A large number of buyers are moving closer to daily conveniences.

Harrison Woods Holrob Communities

Holrob gladly announces Harrison Woods a subdivision of over seventy single family residences that offers beautiful views of the mountains and convenience to Lenoir City's growing shopping and fine dining.  With more than 5 house plans to choose from (ranging in size from 2200-3300 square feet), you may select a design that fits your needs, and if you are looking for a maintenance-free alternative without sacrificing quality, Acadia Villas is a Holrob condominium project adjacent to Harrison Woods.

Restaurants such as Aubrey's, Altruda's Italian Restaurant, Calhoun's, Monterey Mexican, Little Joe's pizza , and many others offer great dining options are already within minutes of any home in Harrison woods. With the Town Creek development located only a few miles from Harrison Woods, both retail and dining are expected to expand dramatically within the next few years. Convenience to this development while still being excluded make Harrison Woods a prime location to call home. In addition to Dr. Overholt's Town Creek development, a variety of medical facilities are only a few minutes drive from Harrison Woods.

Convenience to golf makes Harrison Woods a great place to live. Fox Den Country Club, Willow Creek Golf Course, Avalon Golf Club, Cedar Hills Golf Course, Tanasi, Kahite and Toqua courses at Tellico Village, Rarity Bay Country Club, and Tennessee National are all within a twenty minute drive from Harrison Woods.  Take a look at all of the golf courses in relation to the property on this map.

If you would like more information, fill out this form, and someone will send you more information and arrange to contact you.

Historic Tennessee Theater: Crown Jewel of Gay Street

Owned by the Historic Tennessee Theater Foundation, Inc., and managed by AC Entertainment, Knoxville’s Tennessee Theater has the distinction of being one of 249 theaters on the National Register of Historic Places (NR). When listed on the Register in 1982, the Tennessee Theater joined an elite group of properties which, in most circumstances, must be at least 50 years old and, according to the NR’s guidelines, must “have made a significant contribution to our country’s history and heritage.” The Tennessee Theater certainly has done just that.

Tennessee Theatre

When George M. Fuller broke ground for the Theater in 1927, he couldn’t have known the growing pains that were in store for the grand building. Opening in 1928, the Theater’s first show was Clara Bow’s, The Fleet’s In. Moviegoers paid 60 cents to take in the evening event. Over the next 80 years the Theater would experience bouts of great success followed by failures as ownership of the Theater changed hands and political and public interest waxed and waned. Nevertheless, the Tennessee Theater has done much more than survive; the Theater has flourished to host more than 200 public events per year, including operas, ballets, dance presentations, concerts, and cinematic screenings.

The Tennessee Theater was decorated in the Spanish Moorish style, so popular in the Roaring Twenties. The lobby is decorated with tile inlaid walls, gold overlays, and five French-style, Czech crystal chandeliers valued (today) at $150,000 each, terrazzo marble from Italy, and lavish handwoven carpeting and draperies. The 1,650 seat auditorium houses the Theater’s original Wurlitzer organ, a 55-person orchestra pit, red velvet seating, and a truly incredible concaved and frescoed ceiling, all of which underwent a $25.5 million restoration with the theater reopening in January 2005. All restorations were done with a dedication to historical accuracy.

The Mighty Wurlitzer also underwent restoration - from August 2000 to September 2001. Master organ rebuilder, Ken Crome of Nevada, and his crew of artisans and technicians worked to refurbish “almost the entire organ - all the pipes and the console with its manuals, stops, and pedals.” The result led acclaimed organist, Lyn Larson, to claim that the organ’s tonal quality and acoustics of the Theater placed it “among the handful of the very finest 'in-theatre' installations in the country.”

What’s in store for the coming season? Go to the Tennessee Theater event calendar or visit Tickets.com for ticket purchases and more information.

Holrob Brings New Urbanism to Murfreesboro, TN with Westlawn Community

This mixed-use community, called Westlawn, consists of 362 single family residences, 318 multi family residences and will include over 350,000 square feet of retail space. Westlawn has been carefully master planned to deliver an exclusive and cohesive character throughout the community. Newmark Homes, one of middle Tennessee’s most highly regarded home builders, has signed on to build one of residential components within this dynamic community. Located northwest of Murfreesboro, Westlawn will provide future residents with a unique and relaxing lifestyle while allowing for close proximity to city conveniences. Westlawn is located adjacent to State Route 840 at the new Beesley Road interchange approximately two miles from of I-24. For more information about Westlawn, please visit the Westlawn website.


Westlawn Community

For more information  email Micah Lacher.

Holland Springs Brings Opportunity for New Construction Within Maryville, TN City Limits

Holland Springs is a new community inside the city of Maryville, Tennessee with the unique mixture of small town charm and city conveniences all nestled within the Foothills of the Great Smoky Mountains. Holland Springs consists of 96 single-family homes within 42 acres surrounded by woodlands . This beautifully designed neighborhood offers home sites ranging from 1/4 acre to 1 acre, with lot prices starting at $89,000. Architectural and landscape criteria have been established to preserve and enhance the neighborhood's inherent beauty.

If you would like more information about Holland Springs, please request an information packet.