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Archive for October, 2006

How Spooky is This?

Posted in Just for Fun by Karen Rhodes on October 31st, 2006

Christopher Knight has posted his Top Ten Best Ghost Photographs Ever Taken.  This is his number one choice:

It was taken on November 19, 1995 in Shropshire England.  The Wern Town Hall was on burning down.  Tony O’Rahilly was across the street with a camera and a telephoto lens.  He took this photo and you can clearly see a little girl in a doorway.  Of course, no one knew of a little girl at the scene.  Especially one who would be standing there calmly while the building burned around her.  A photo expert verified that neither the photo nor negative had been doctored in any way.

This is where it gets real spooky. Come to find out, in 1677 a fire ran through Wern and destroyed many of the wooden houses.  According to legend, a 14 year old girl names Jane Churm accidently started the fire with a candle she had.  She and several others died in the fire.  Her ghost is supposed to still be there haunting the area.  Quite possibly, she can’t forgive herself for what happened and has refused to cross over as self punishment.

Real or not?  You decide….

Happy Halloween!!



Code of Ethics-Duties to Clients and Customers

Posted in REALTORS Code of Ethics by Karen Rhodes on October 31st, 2006

Standard of Practice 1-7
When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing. REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord. REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease. (Amended 1/93)

Lets break this one down into parts.  I have had this very issue arise with a seller client of mine recently.

When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until closing or execution of a lease unless the seller/landlord has waived this obligation in writing.

This was my clients issue.  I received an offer at a lower price than what my client expected.  After getting very upset that I would waste their time presenting this offer I explained this Standard of Practice.  I had not been informed in writing to not present any offers less than X amount.  Personally, I don’t think doing this is a wise move.  If you get a low offer you can always make a counter offer.  Every offer should be considered and handled in the appropriate way.  The offer that I was chastised for presenting was countered and accepted by the buyer.  The buyer was fishing to see how low the seller would go.  Had I not presented it to my client then it certainly never would have been countered and accepted. 

REALTORS® shall not be obligated to continue to market the property after an offer has been accepted by the seller/landlord.

Not difficult to understand.  If the property is under contract, don’t expect it to continue to be in the paper, magazines, etc.

REALTORS® shall recommend that sellers/landlords obtain the advice of legal counsel prior to acceptance of a subsequent offer except where the acceptance is contingent on the termination of the pre-existing purchase contract or lease.

Another obvious practice.  If your home is under contract with a buyer and another acceptable offer is received it should be accepted as a back up to the first one.  You can’t have two working contracts on one piece of property.  If you do, go ahead and find a good attorney.



Mortgage Rates–10-31-2006

Posted in Mortgage Info by Karen Rhodes on October 31st, 2006

Interest rates compliments of:

Owens Financial Group
Melanie Huddleston
1007 Ashland Terrace
Suite 104B
Chattanooga, TN 37415
423-648-7630

  Conventional Fixed Rate

30 yr  =  6.%

15 yr  =  5.625%

FHA and VA

30 yr  =  6.125%

ARMS

3/1 = 5.625

5/1 = 5.625



Code of Ethics-Duties to Clients and Customers

Posted in REALTORS Code of Ethics by Karen Rhodes on October 30th, 2006

Standard of Practice 1-6
REALTORS® shall submit offers and counter-offers objectively and as quickly as possible. (Adopted 1/93, Amended 1/95)

This has been a recent topic of discussion on a listserve in which I participate.  The debate was, what is "as quickly as possible"?  Opinions varied.  Apparently there are quite a few REALTORS® who only work Monday thru Friday, 9 to 5.  Well, this means if they receive an offer on a home at 6 pm on Friday night that they will present it to their seller client Monday morning.  I believe this is only acceptable when the seller has given written instruction regarding presentation of offers to be between whatever hours the agent works and that disclosure is made to the buyer and their agent prior to an offer being written.  For example, it should be disclosed in the MLS remarks.

I don’t work 24 hours a day 7 days a week but if I get an offer or need to write or present an offer on the weekends or in the evening I handle it.   That, in my opinion, is "as quickly as possible".  However, my clients know I do not work major holidays (who does?) or after 9 pm. 

Of course, "objectively" means just that.  Offers and counter offers are to be presented objectively without bias by the agent.



Mortgage Rates–10-30-2006

Posted in Mortgage Info by Karen Rhodes on October 30th, 2006

Interest rates compliments of:

Owens Financial Group
Melanie Huddleston
1007 Ashland Terrace
Suite 104B
Chattanooga, TN 37415
423-648-7630

  Conventional Fixed Rate

30 yr  =  6.%

15 yr  =  5.625%

FHA and VA

30 yr  =  6.125%

ARMS

3/1 = 5.625

5/1 = 5.625



$1.33 Million Marked for Widening of Ashland Terrace in 2007

Posted in General Info by Karen Rhodes on October 29th, 2006

Part of the $30.7 million dollar budget for fiscal year 2007 includes finally widening Ashland Terrace.  This is going to be huge.  Not only because my office is on Asland Terrace  We will be going from a 2 lane road to 5 lanes with sidewalks. 

It’s going to be a nighmare during construction.  Post construction traffic is going to increase dramatically.  Just how much remains to be seen.  What about our parking lot?  How much of it will we lose?  Since I currently turn left into my parking lot across one lane it isn’t too bad.  Two lanes could leave me sitting in the middle of the road longer.

It’s not all bad though.  More traffic means more people will see our company sign which in turn could lead to more business.  It will make getting from Hixson to Red Bank a lot quicker specially during rush hour.  It could give Red Bank a boost.

The city is paying $1.33 million with the TN Dept of Transportation covering the other 80% of the total expected cost to complete the project according to tfponline.com.

All in all I think it is going to be great.  I’m just not looking forward to the construction phase.



The Southside is Booming!

Posted in Buyers, General Real Estate Info by Karen Rhodes on October 28th, 2006

With the opening of commercial space at Clark Centere the retail activity on the Southside continues to go strong.  Shopping is available at four retail establishments. 

Lola’s, a womens boutique shop will offer gifts for women and girls of all ages.  While most are high-end the prices will be in cover all price ranges.  Choose from furniture, jewelry, lamps and other home decor items.  No need to wait for the grand opening November 10th.  Stop by this weekend and get a sneak peak at Lola’s open house.

21 Knots Hair Salon is the second salon opened by Judy Wilson who also owns Yours Truly Hair Salon on East Brainerd Road.  She is an avid aviation enthusiast and decided to name her new salon 21 Knots which is the speed the Wright Brothers needed to reach to get lift off on their historic first flight.

Scapes Creation will be offering mostly home decor items however you will also find a small variets of decorative garden items.  Choose from indoor and outdoor fountains and statues, arbors and a variety of indoor decorative items.  Christmas items will be available for holiday decorating.

Main at Mocha filled a need many wanted on the Southside, a coffe shop.  Owner, Shawna Lewis, has lived on the Southside for the last 3 1/2 years and after watching the growth there decided to fill that need.

Working together to promote the retail aspects of the area, the four tenants will have a joint open house November 10 and 11th.

There are only four of the eleven residential condos available above the retail spaces.  They are priced from $599,000 to $899,000.  Please contact me if you would like additional information on these or any residences on the Southside or any other area of town.



Weekend Activities in and Around Chattanooga

Posted in Just for Fun by Karen Rhodes on October 27th, 2006

Chattanooga Area Popular Events & Features

September 15 – November 4, 2006   (dates subject to change) - Rock City’s Enchanted Maize Maze:  Challenge your skills with a visit to the Enchanted Maize Maze. Enjoy 10 acres of fall fun as you weave your way through the twists and turns of this amazing cornfield maze. Checkpoints along the trail post questions that if answered correctly will steer you in the right direction to find the way through the maze. Rock City’s Maize Maze is fun, educational and a new experience for anyone or any group. Also on site are hayrides, a kiddie hay maze, a hay pyramid, pumpkin patch, food and much more. The maze is located at Blowing Springs Farm at the foot of Lookout Mountain in Georgia.

Opens after dark (8pm) September 29th, then every Thursday–Sunday in October.  - Ruby Falls Haunted Cavern: A 260-foot drop, hideous creatures, and terror at every turn, this is what is in store for all who visit Ruby Falls Haunted Cavern.

Rocktoberfest presented by Big River Grille and Brewing Works: Saturdays in October Get in touch with Rock City’s German heritage! Rock City Square will be transformed for a celebration of harvests and fall foliage. Stroll through an atmosphere of German music and food. Enjoy a Bratwurst, Knackwurst, or Polish Sausage along with German sauerkraut. Specialty beer will be on tap in the Beer Garden. Work off dinner with a "chicken dance" at the Polka Stage.

October 2006 : Folklife Demonstrations Series: Free educational demonstrations featuring residencies by southeast folk artists at Miller Plaza. For more information, contact the Chattanooga Downtown Partnership at 423.265.0771, or visit www.downtownchattanooga.org

October 23-27, 28-30 & November 4, 2006 : Fall Leaf Cruises: This four-hour Fall Leaf Cruise into the Tennessee River Gorge sails round-trip to and from Ross’s Landing. The cruise includes a deluxe deli buffet, live band on the first deck, informative commentary on the promenade (3rd) deck, free bingo with prizes, and your very own fall decoration handmade by you.

October 28, 2006 : Fall Color Cruise: The annual Fall Color Cruise takes place at the height of the color changes in our mountains. Cruise the grand canyon of the Tennessee River by boat, car, or bus to view more than 300 different trees and 900 kinds of wildflowers. Then sample genuine southern cuisine and enjoy traditional, country, and gospel music at the folk festival. Call the Alhambra Temple at 423.892.0223.

October  28, November 4, and 11, 2006 : Autumn Steam Excursions: Ride behind an authentic steam locomotive on scenic excursions through Chattanooga and North Georgia. Points of interest are Missionary Ridge, the Chattanooga/Chickamauga National Military Park, and the small southern towns of Rock Spring, Lafayette, Trion, Summerville, and Chickamauga. Passengers lunch in the dining car of the train. For more information and additional dates throughout the year, call the Tennessee Valley Railroad Museum at 423.894.8028.

Oct. 27-28
The Haunted Forest,
a Carpetbagger’s Tale, 7-11 p.m. Audubon Acres, 900 N. Sanctuary Road. Tickets are $10 for adults and children 12 and under are $5. The last tickets will be sold at 11 p.m. Food and drink will be available for purchase. The event is a fundraiser for Audubon Acres.

Oct. 27-28
Annual Fantasy Maze at the
Tennessee Riverpark, 4301 Amnicola Highway, 6-9 p.m. Children are encouraged to wear costumes and bring treat bags. $3 per child and adults are free. Additional fees for inflatable games are $1 each. 842-6748.

Oct. 28
Normal-Palooza
family-friendly street festival offers an eclectic line-up of live music, dance and an art market offering over 40 specialty items and handcrafted wares.
10 a.m.-5 p.m. Fundraiser for Normal Park Museum Magnet, a public elementary school located at 1009 Mississippi Ave. in North Chattanooga. General admission is free, though a $5 charge per child for admission to the Kids’ Corner activity area is good for the entire day. For more information, please contact Normal-Palooza Event Chair Debra Price at normal-palooza@comcast.net or call the school at 209-5912. For a vendor application, visit www.normalparkmuseummagnet.com.



Mortgage Rates–10-27-2006

Posted in Mortgage Info by Karen Rhodes on October 27th, 2006

Interest rates compliments of:

Owens Financial Group
Melanie Huddleston
1007 Ashland Terrace
Suite 104B
Chattanooga, TN 37415
423-648-7630

The 15 year rate dropped a little!

  Conventional Fixed Rate

30 yr  =  6.%

15 yr  =  5.625%

FHA and VA

30 yr  =  6.125%

ARMS

3/1 = 5.625

5/1 = 5.75



Easy to Comply with the New Ground Water Protection Act

Posted in General Real Estate Info, Governmental Issues, Sellers by Karen Rhodes on October 26th, 2006

An amendment to the Tennessee Consumer Protection Act which became effective July 1, 2006 makes knowingly advertising or marketing a residence as having more bedrooms than are permitted by the residence’s subsurface sewage disposal system permit a violation of the Act.

 

In order to assist home owners obtain needed information, the Division of Ground Water Protection (GWP), with the Tennessee Department of Environment & Conservation, has developed the “Application for Information Regarding Subsurface Sewage Disposal (SSD) System Permit and Certificate of Completion” form for use across the state.  The data requested on the form will allow the GWP to search their records and provide information they have on file concerning a specific property. 

 

An application may be obtained at and GWP office or on the GWP website.  The completed application may be delivered or faxed to the local GWP office in the county where the property is located.

 

This document is required on all homes in Tennessee with a septic tank prior to listing the property.




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