Tim Duncklee, Realtor
Frequently Asked Questions
Real Estate Questions

We've covered a lot of material for these topics:

There are some general questions on this page as well. If you don't see the information you need, please contact us and we'd be happy answer any questions you have.

What should I look for in a new neighborhood?
Everyone is different and the things desirable form one person to the next vary widely.Check out the following on the areas you are interested in: http://realestate.yahoo.com/neighborhoods

Where can I get information on local schools?
http://realestate.yahoo.com/Schools

Where can I find what homes have sold for in a certain area?
This is where the help of a Realtor can make things a lot easier. If you would like to do the research on your own, much of the information is in the public record and can be accessed on the Internet:
http://www.tennesseetrustee.com/

How can I find out what my property taxes will be?
This information can also be found at:
http://www.tennesseetrustee.com/

Is there any way I can see information on available homes before I come to town?
All homes in the Multiple Listing Service are accessible via the Internet. The following link will take you to SilverPointe Properties listings. You can also search the entire national MLS system from the PROPERTY SEARCH link on that site:
http://www.silverpointeproperties.com/rdetails.php?agent=29012

How does buying compare to renting?

Reasons you may want to rent:

  • If you're new to an area or just starting out, you might want to start out renting to make sure this is an area you will be comfortable.
  • Bad credit can sometimes make getting a mortgage difficult. However, there are many options available and it's worth researching. See our section on Understand Financing for resources.
  • If you move frequently, you might not be able to sell your home and buy a new one in the timing that works for you.

Owning a home is the best decision for your long-term financial situation. Renting offers no equity, tax benefit, and most likely no protection against regular rent increases.

  • Over the past 30 years, home values have risen more than 6% annually.
  • On average, the value of a home nearly doubles every 10 years.
  • Sixty percent of the average homeowner's wealth comes from their home's equity.
  • The average homeowner’s net worth is $171,000 – that’s nearly 46 times that of a renter’s, who has an average net worth of $4,800.
  • Homeowners benefit from the power of leverage. At an annual appreciation rate of 5%, a 10% down payment on a home will return 94% after 3 years. After 5 years, the rate of return increases to 225% and after 10 years, 623%.

There are always advantages and disadvantages to these kinds of choices. Certain situations can limit your choices. We'd be happy to talk to you about your circumstances and explore options for you. See our Rent vs. Buy Calculator (at the bottom of the page) to get a better idea of how this will affect you.

Common Real Estate Abbreviations

3/2 3 bedrooms, 2 baths
3/2/1 3 bedrooms, 2 baths, 1 car garage
BA bath
blt built-in
BR bedroom
brk brick
DR dining room
dk deck
FHA/VA qualifies for FHA/VA financing
fml formal
fpl fireplace
FR family room
FSBO for sale by owner
LR living room
HVAC heating ventilation air conditioning
mstr master bedroom/suite
mtg mortgage
pvcy fence privacy fence
scrnd porch screened porch
TH townhouse
txs taxes
w/o walk-out
u/g sprk underground sprinkler system
yd yard
Silver Pointe Properties