Posts by Betty Smith

Fletcher Bright Blog Home

Subscribe and receive email notifications of new blog posts.




rss logo RSS Feed
BUYING | 8 Posts
Buying a Condo | 2 Posts
Buying a House | 31 Posts
Chattanooga TN | 107 Posts
Homeowner Tips | 24 Posts
LeadingRE | 1 Posts
Luxury Homes | 1 Posts
Moving Tips | 4 Posts
Ooltewah TN | 1 Posts
Relocation | 2 Posts
Selling a House | 19 Posts
Uncategorized | 1 Posts
December
28

Chattanooga Real Estate 2021

As we move closer to the New Year, many homeowners and aspiring homeowners wonder what exactly 2021 has in store. No one could have predicted that 2020's pandemic would have such a dramatic, long-lasting impact on nearly every person, place, and industry around the world. One of the industries that has been surprisingly resilient in much of the United States is the real estate industry.

Real Estate in 2021: What to Expect

Click Here to Read More...

August
28

Stargazing Chattanooga

At Fletcher Bright Realty, our real estate agents are always keen to introduce clients like you to everything Chattanooga has to offer. From the delectable dining scene to the strong economy to the Tennessee Aquarium, it truly has something for everyone.

But one aspect to Chattanooga homes for sale is special: You won't find it by looking in our bustling downtown or checking your spacious backyard. It's our night sky, and plenty of pro and amateur stargazers spend their time enjoying it every season of the year.

While summer is the high time for stargazing, especially in the Northern Hemisphere, every month you can find plenty of places all around Chattanooga perfect for appreciating the night sky. Whether you want backcountry camping far away from city lights or would prefer the view from a world-class telescope, your opportunity awaits.

Let's take a closer look at five outstanding opportunities for stargazers:

  1. Tamke-Allan Observatory – 334 Caney Creek Road, Rockwood, TN 37854
    Situated on the grounds of Roane State Community College an hour and a half north of Chattanooga, Tamke-Allan Observatory hosts celestial observations twice a month on Saturdays. Events begin at 7:30 and typically end at 11, but can run later due to sky conditions. Hands-on classes are held on telescoping making and mirror grinding: These are open to students, hobbyists, and visitors of all experience levels.
  2. Clarence T. Jones Observatory – 10 North Tuxedo Avenue, Chattanooga, TN 37411
    The meeting place of the Barnard Astronomical Society, Clarence T. Jones Observatory is one of Chattanooga's top free attractions: It sits a mere 12 minutes from the city center! The Observatory has been a major landmark since 1936. It sits in a premier location just east of the University of Tennessee at Chattanooga Campus. Group tours are available, and many area stargazing clubs make it their home away from home.
  3. Pickett State Park – 4605 Pickett Park Highway, Jamestown, TN 38556
    Part of the 120,000 acres Pickett State Forest, Pickett State Park, is one of less than 40 parks in the world that has been certified as a "dark sky park" by the International Dark Sky Association. Combining a remote location with strict lighting restrictions once the sun sets, Pickett is dark enough for the Milky Way to be clearly visible on an average night. It's approximately 2.5 hours north of Chattanooga, near the state line.
  4. Land Between the Lakes – 238 Visitor Center Drive, Golden Pond, KY 42211
    Land Between the Lakes is found just over the border with Kentucky (3.5 hours to the northwest of Chattanooga) and sprawls across 170,000 beautiful acres. There are many flat areas that provide ideal viewing conditions on a clear night. You'll find meetings of the West Kentucky Amateur Astronomers taking place at the Golden Pond Planetarium and Observatory and educational programs offered almost every day.
  5. Obed River Park and Clear Creek – 24 Obed River Park Drive, Crossville, TN 38555
    About an hour and a half north of Chattanooga, Obed River Park has the distinction of looking very much the same today as it did when the first European settlers explored its banks in the 1700s. The river has been known for its abundant fishing and hunting ever since. The rugged terrain offers plenty of chances for adventure. And, like Pickett above, Obed River Park is an official International Dark Sky Park.

The sky is the limit when it comes to real estate opportunities here in Chattanooga. To find out more about local homes with enough yard space to set up a telescope, contact us.

September
10

Fall Festivals Chattanooga

Calling Chattanooga home means that you'll always have another fun, local festival coming up on the calendar, and the fall season is certainly no exception. There are festivals planned around harvest time, events packed with local culture, and plenty of opportunities to explore all of the excitement that Chattanooga has to offer. Pleasant weather makes fall a great time to enjoy the outdoors, and spend time with your favorite people at local events. Our REALTORS® are ready for fall fun, and we've got the details on five great festivals coming to Chattanooga this fall.

  1. Chattanooga Oktoberfest, 1801 Carter St., Chattanooga, TN 37408 - October 13 
    Chattanooga homes for sale 
    make it easy to reach all of the fantastic festivals and events on our list, including Chattanooga Oktoberfest which takes place at the First Tennessee Pavilion. Visit Chattanooga's longest-running Oktoberfest event for a full weekend of great food, local brews, and German traditions. The festival features traditional German dining, more than 99 different craft brews, and live music throughout the weekend. This is a family-friendly Oktoberfest event, with attractions and fun for all ages.

    Click Here to Read More...

November
20

Understanding an Appraisal

 

Q.  Is a Comparative Market Analysis an appraisal?

A.   Appraisals and Comparative Market Analysis are similar but have different purposes.

When a home is sold, the buyer's mortgage lender will order an appraisal of the 'subject' property. This is done to make sure the home is worth the amount being mortgaged.

A Comparative Market Analysis (CMA) is the tool used to determine a listing price for the subject property. It, too, compares the subject to several other recent sales and listings to arrive at an asking price for the home. The difference is that a CMA is a tool of the seller or the seller's agent, not the lender, and it is less detailed. Well-researched CMAs net list prices very close to appraised values, but lenders do not accept them as proof of the property's worth.

 

Appraisal Overview

   ·         Appraisers are licensed.  

   ·         The appraiser should be an objective party.

   ·          The buyer assumes the cost of an appraisal.

   ·          Appraisals are somewhat subjective; four different appraisers may arrive at four different property values.

Appraisal Report

Appraisal reports are quite detailed.  A few major components are:

  • A detailed description of the subject property and comparison to three local comparable properties.
  • Evaluation of the local real estate market.
  •     Appraiser statements noting factors, which contributed to, diminished value (poor access, obvious disrepair, etc.).
  •     Serious disrepair or structural damage notations.
  •     Community environment (development, condominium complex, stand-alone, rural, etc.).

Appraisal Methods

One of two methods generally used to appraise residential properties are:

  •     The Sales Comparison Approach: This estimates value by comparing the subject property to "comps" in the area (recently sold comparable properties, similar in size, location and characteristics). Three properties are usually evaluated, and adjustments are made to their selling prices to accommodate for property differences. Square footage is multiplied by the value per square foot; value is added for additional subject home features. Additional amenity values are subtracted from comps. The resulting price is one the comp would have sold for if it were the same as the subject home.
  •      The Cost Approach: This is most accurately used to appraise new

construction. Building costs (present and known) are calculated to arrive       at a replacement value for the subject home.