joins us for the fifth installment of our Crazy Home Inspection Series. The idea for the show is not just to merely entertain but to inform our listeners about the importance of a home inspection. You don’t need to buy a home to get one. If you have never had an inspection done or it’s been years since the last inspection, Crazy Home Inspection Series will motivate you to order one today!!!
Follow the pictures as Jack, Kevin and Mark discuss these Crazy photos!!
Home Inspections in Knoxville and the Surrounding Area
Clayton Inspection Service Inc., a certified member of the American Society of Home Inspectors®, was established in 1989. Located in Knoxville, Tennessee we have completed thousands of inspections and we typically inspect over 1,000,000 square feet per year. With over twenty years of construction experience you can be certain that you will receive the highest level of professional service available in today’s market.
Asbestos Inspection & Testing
Clayton Inspection Service services the following counties and cities –
Knox, Blount, Anderson, Roane, Monroe, Campbell Counties, Knoxville, Oak Ridge, Maryville, Alcoa, Tellico Village, Rarity Bay, Clinton, Kingston, Harriman, Loudon, Townsend, Walland, Clinton, LaFollette and surrounding areas.
joins The Housing Hour this week to share his 30 plus years of appraisal experience. Tom explains market values , submarket conditions and home value appreciations across the region. Be prepared because Tom comes loaded with important data!
TFW Appraisal Services
139 W Madison Ln
Oak Ridge, TN 37830-5310
REASONS TO GET AN APPRAISAL
Every year, countless people in the United States buy, sell or refinance their own slice of the American Dream. Most, if not all, of these transactions include a simple line item for an appraisal. It has become an understood and accepted part of a real estate transaction. “Let’s bring in the expert and make sure we’re not spending too much on this property.”
But is this the only reason to get an appraisal? Are there other times when the services of a certified, licensed, independent real estate professional might come in handy? You bet.
PURCHASE OF A HOME One of the most important issues involved in purchasing a property is developing an opinion of what it’s worth so that you can make an informed offer to purchase. A professional appraisal report performed by a qualified, state-licensed appraiser can provide you with an objective, third party opinion of a property’s current Market Value. And for the small price of this service, you can give yourself “peace of mind” prior to making an offer to purchase that you’re offering a fair price for the property.
REFINANCE OR GET A HOME EQUITY LOAN
If you need to consolidate bills, have a college tuition to pay, or just want to tap into the equity of your home, you’ll need a new loan, which oftentimes requires a new appraisal of the property.
Private Mortgage Insurance or PMI is the supplemental insurance that many lenders ask home buyers to purchase when the amount being loaned is more than 80% of the value of the home. Very often, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan – whether through market appreciation or principal paydown – dips below this 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Many appraisers offer a specific service for home owners that believe they have met the 80% loan-to-value metric. For a nominal fee, the appraiser can provide you with a statement regarding the home value. Some will even take the next step and help you file a challenge with your mortgage company. The costs of these services are very often recovered in just a few months of not paying the PMI.
DIVORCE SETTLEMENT A divorce can be a particularly traumatic experience for both parties and is often further complicated by the difficult decision of “Who gets the house?”. In most divorce cases, the Court won’t usually force the parties involved to “buyout” the other party’s interest but it may however order the sale of the home so each party gets an equal share of the equity. Regardless of the situation, it’s a good idea to order an appraisal so both parties are fully aware of what the true market value is.
If the parties want to sell the home, they’ll have a better idea of what price to set. And on the flipside, if a “buyout” is the chosen option, both parties will feel like they’ve gotten a fair assessment.
ESTATE LIQUIDATION The loss of a loved one is a difficult time in life and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, the majority of Americans do not have dedicated estate planners or executors to handle these issues. Also, in most cases, a home or other real property makes up a disproportionate share of the total estate value.
Here too, an appraiser can help. Often the first step in fairly disposing of an estate is to understand its true value. Where property is involved, the appraiser can help determine the true value. At this point, equitable arrangements can more easily be arrived at among disputing parties. Everyone walks away knowing they’ve received a fair deal.
RELOCATION We understand the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive attributes of their property along with information about any recent sales or listings in their neighborhood that they want considered.
HOME IMPROVEMENTS TO ADD VALUE
Before you decide to sell your home, there are several decisions to be made. First and foremost: “How much should it sell for?” But don’t forget there may be other equally important questions to ask yourself such as “Would it be better to paint the entire house before we sell it?”, “Should I put in that third bathroom?”, “Should I complete my kitchen remodel?” Many things which we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense.
SELLING A HOME
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price.
Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. It’s easy for them to step in and give you the information to help you make your decision. Appraiser fees are based on efforts to complete the report and not a percentage of the sales price. So seeking a professional appraisal can often help homeowners make the best decisions on investing in their homes and setting a fair sales price.
join The Housing Hour this week to discuss The national Firewise Communities program. The Firewise program is a multi-agency effort designed to reach beyond the fire service by involving homeowners, community leaders, planners, developers, and others in the effort to protect people, property, and natural resources from the risk of wildland fire- before a fire starts! The Firewise Communities approach emphasizes community responsibility for planning in the design of a safe community as well as effective emergency response, and individual responsibility for safer home construction and design, landscaping, and maintenance. While many people play an important role in making homes safer from wildfire, no one has more control over the safety of a home than homeowners!
Tennessee has many types of forests and open areas, from the dense eastern mountain laurel thickets to the remote western cypress swamps. Between these are upland hardwood forests, pine stands, cedar glades, cove hardwoods, bottomland hardwoods and various types of open, brushy and forested land. Their unique characteristics and the variations in topography and weather, make wildland fire suppression in Tennessee quite challenging.
Fire threatens the sustainability of Tennessee’s forests. The Division of Forestry protects this resource with personnel and equipment. Employees are involved in fire readiness, wildfire suppression, training volunteer fire fighters, fire investigation and prosecution of arsonists.
Wildland fires in Tennessee are suppressed by mechanical and manual means. Forest fires in mountainous terrain are often fought by crews using hand tools. On rolling and flat terrain, bulldozers are used to attack wildfires by making fire lines. In either situation, a firebreak is cleared two to ten feet in width down to mineral soil. Sometimes fire is set along the firebreak to widen it and burn out fuels ahead of the wildfire. Wherever fires are accessible by roads or fields, water is sprayed on fires from small pumper units carried on pickup trucks.
Division employees work in tandem with the state’s Volunteer Fire Departments and Rescue Squads to protect forest resources as well as the homes and other structures in the path of wildfire. When houses are built in the woods, a situation called wildland/urban interface is created. There are steps homeowners can take to help make their houses safe from wildfire. The National Wildland/Urban Interface Fire Protection Program web site provides information on protecting your home from wildfire.
Tennessee typically has a spring and fall fire season. The spring fire season, prompted by warming weather, begins about February 15 and ends near May 15th, when the forest has usually “greened up” enough to prevent the rapid spread of forest fires. Fall fire season begins around October 15, when the leaves begin to fall and usually ends December 15th due to shorter, cooler, wetter days. Because of the variations in weather, wildland fires can occur any time during the year. It is important to note that a burning permit is required for outdoor burning during the period between October 15th and May 15th.
Firewise Communities Program
Brush, grass and forest fires don’t have to be disasters. NFPA’s Firewise Communities Program encourages local solutions for safety by involving homeowners in taking individual responsibility for preparing their homes from the risk of wildfire. Firewise is a key component of Fire Adapted Communities – a collaborative approach that connects all those who play a role in wildfire education, planning and action with comprehensive resources to help reduce risk.
The program is co-sponsored by the USDA Forest Service, the US Department of the Interior, and the National Association of State Foresters.
To save lives and property from wildfire, NFPA’s Firewise Communities program teaches people how to adapt to living with wildfire and encourages neighbors to work together and take action now to prevent losses. We all have a role to play in protecting ourselves and each other from the risk of wildfire.
NFPA logo About the National Fire Protection Association (NFPA)
NFPA is a worldwide leader in fire, electrical, building, and life safety. The mission of the international nonprofit organization founded in 1896 is to reduce the worldwide burden of fire and other hazards on the quality of life by providing and advocating consensus codes and standards, research, training, and education. NFPA develops more than 300 codes and standards to minimize the possibility and effects of fire and other hazards. All NFPA codes and standards can be viewed at no cost at www.nfpa.org/freeaccess.
The southeastern United States consistently experiences more wildfires per year than any other region. More than 100 million acres of land have a moderate to extreme potential for wildfire. The issue is not if an area will burn but when, and at what intensity.
Learn about your region’s unique wildfire risks by exploring this section. It provides federal, state, and local information and resources for the southeast – all of which support your community in becoming fire adapted.