There’s no denying that houses can cost a fortune, which is why most people opt to take out a mortgage to finance their dream home. However, for businesses looking to acquire properties or expand their operations, commercial loans are often the go-to financing option. While both options involve borrowing money, why is it that commercial loans tend to have higher down payments and interest rates compared to home mortgages? In this blog, we’ll dive in and explore the reasons behind this discrepancy. Commercial Loans Require a Larger Down Payment Compared to home mortgages, commercial loans require a larger down payment, usually ranging from 20-30% of the total loan amount. This is due to the higher risk of default that comes with these loans. It is much easier for someone to walk away from a failed business than it is for them to abandon their home. Commercial lenders need to make sure that borrowers have skin in the game and are less likely to default on the loan if they have invested a significant amount of their own funds. Higher Interest Rates Another major reason why this type of loan often comes with higher interest rates is because of the increased risk level they represent. Commercial loans generally come with higher risk than home mortgages, which means that lenders charge higher interest rates to offset this risk. Furthermore, commercial loans typically have shorter repayment periods than home mortgages. Commercial loans require a higher payback rate, which increases the risk to the lender. The loan amount that is lent for commercial loans may also be larger than what is lent for home mortgages since it typically involves the purchase or expansion of a business. Therefore, lenders put higher interest rates in order to balance the risks involved. Creditworthiness Creditworthiness is also a significant factor in determining the interest rate. Unlike home mortgages, commercial loans require not only the business but the individuals related to it to submit their credit score. A borrower with a bad credit history will eventually be charged higher interest rates since his or her perceived risk is higher. Creditworthiness helps lenders determine how much interest they are going to charge since this will represent the risk associated with the borrower. The Economic Cycle Another factor that can influence the interest rates for commercial loans is what happens in the economy. Commercial lenders keep a sharp eye on the economic cycle, particularly when the economy is in the recession stage. Interest rates are higher when there is a recession, which makes borrowing more expensive for businesses. This is why it is always beneficial for borrowers to keep a lookout on the economic cycle to determine the appropriate time to get a commercial loan. Commercial loans have substantially higher down payments and interest rates compared to home mortgages and for good reason. Lenders face more risk when they approve commercial loans, making it important to offset this risk with larger down payments and higher interest rates. Lenders also take creditworthiness and the state of the economy into account when deciding on interest rates. At the end of the day, borrowers should carefully consider their financial situation and the risks involved before taking out any loan to ensure that they can make repayments on time. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

If you are planning to buy a home or searching for a property investment, consider buying a duplex. For those unfamiliar, a duplex is a single building that contains two separate living units. And when you buy a duplex, you have the option of living in one unit and renting out the other side. In this blog post, we will discuss how buying a duplex can benefit you, and why it is a fantastic investment strategy. Affordable Investment Option One of the significant benefits of buying a duplex is that it is an affordable investment option. Typically, the price of a duplex will be less than two separate homes. Plus, It's a great way to start in the Real Estate investing world. Start by renting one half and living in the other. This will help keep your monthly housing expense low and let your tenant help you pay your mortgage. Passive Income Potential If you manage to rent the second unit out, you would be creating a steady stream of passive income. Plus, the rent payment from tenants will pay your mortgage AND supplement your income - making this investment a potentially lucrative activity. Equity Buildup What's more, owning a duplex helps you build equity over time. As you pay down your mortgage, your ownership stake in the property increases, and the property's value appreciates. This increase in the property's value creates wealth and produces substantial returns on your investment. Extended Value in the Long Run Duplex has great long-term value, particularly in locations experiencing population growth and low housing inventories. Over time, duplexes can increase in value as the demand for affordable housing continues to grow. If you decide to sell the duplex in the future, you may be able to resell it for a higher price than what you initially purchased it for, thus generating a profit. Better Living Arrangements Besides the financial benefits, living in a duplex has several quality-of-life attributes. For instance, with careful selection, you can find tenants that share your lifestyle and suit your living preferences. You can also utilize the rental income to fund future expenses, which will reduce your financial burden. In conclusion, buying a duplex is a worthy investment that offers multiple significant benefits. While it may require tremendous effort on your part to secure one and manage it, it's an admirable goal that can undoubtedly lead to long-term financial and personal achievements. Consequently, with a bit of hard work and dedication, finding a duplex that is well-suited to your needs and can help pay for your rent is entirely possible. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com  

Whether you're a property owner looking to sell or a buyer searching for the perfect space, navigating the world of commercial real estate can be daunting. The stakes are high, and there are countless factors to consider. From location and zoning regulations to tenant placement and financing, it can be difficult to know where to start. But fear not, we've got you covered. In this article, we'll walk you through some important things to keep in mind as you prepare to buy or sell commercial property. 1. Location, Location, Location: One of the most important factors when it comes to commercial property is location. Is the property in a highly trafficked area? Is it near public transportation? Are there any new developments that may impact the property's value? These are all questions you should consider when looking to buy or sell. If you're a buyer, you'll want to make sure the location is right for your business. Does it attract the right kind of customers? Is it accessible to your employees? On the other hand, if you're a seller, highlighting the location's perks can make a big difference in attracting potential buyers. 2. Zoning Regulations: Zoning regulations can have a big impact on the use of a property. Before you buy or sell, it's important to make sure the intended use is allowed in the area. You don't want to end up with a property that can't be used for its intended purpose. If you're a seller, providing information about the zoning regulations in the area can help attract potential buyers. On the other hand, if you're a buyer, it's important to do your due diligence and make sure the property can be used for your intended purposes. 3. Tenant Placement: If you're buying a property that already has tenants, it's important to consider the current lease agreements. Are the rents at market value? Are the leases expiring soon? Will you need to find new tenants? Similarly, if you're a seller, highlighting the quality of your current tenants can make a big difference in attracting potential buyers. Make sure you have accurate and up-to-date information about the current leases and tenant satisfaction. 4. Financing: Financing is always a concern when buying or selling commercial property. It's important to work with professionals who have experience in commercial lending. You'll want to make sure you're getting the best rates and terms possible. If you're a buyer, be sure to have all your financial information in order before you apply for any loans. If you're a seller, make sure you have all the necessary documentation and information available for potential buyers. 5. Risks and Rewards: Finally, it's important to consider the risks and rewards of buying or selling commercial property. Investing in commercial real estate can be a great way to generate income, but it's not without its risks. Make sure you're prepared for the work and responsibility that comes with owning commercial property. If you're a seller, make sure you're aware of the value of your property and what kind of return on investment you can expect. If you're a buyer, consider the potential for growth and income generation in the area. Buying or selling commercial property can be a complex process, but with the right information and resources, it can also be a rewarding one. Whether you're a seasoned investor or just starting out, be sure to consider the location, zoning regulations, tenant placement, financing, and risks and rewards before making any big decisions. By taking the time to do your research and work with experienced professionals, you'll be on your way to success in the world of commercial real estate. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

Sequoyah Hills, Knoxville TN Sequoyah Hills is a high-end neighborhood located in Knoxville, Tennessee. It is known for its beautiful homes, lush green spaces, and convenient access to downtown Knoxville. The area has been home to many prominent figures throughout history, including former presidents and celebrities. It is also home to some of the best schools in the city. With its close proximity to downtown Knoxville and its luxurious amenities, Sequoyah Hills is an ideal place for those looking for a high-end lifestyle in the heart of Tennessee. Different Things To Do Sequoyah Hills is a great community that offers a variety of activities for children and adults alike. Plenty of parks, trails, and other recreational areas are perfect for spending your free time. The dogwood trail goes right through the neighborhood for the annual Dogwood Arts Festival parade of homes.  The schools in the area are highly rated and provide excellent educational opportunities for children. The community also has many events throughout the year, such as festivals, farmer's markets, concerts, and more. In addition to all this, Sequoyah Hills is close to downtown Knoxville and has easy access to shopping centers, restaurants, entertainment venues, and more. All these factors make Sequoyah Hills an ideal place for people looking for a fun place to call home. Sequoyah Hills is a beautiful neighborhood known for its luxurious homes and high-end custom houses. With a variety of real estate options available, Sequoyah Hills provides an ideal place for those looking to invest in real estate. Whether you're looking for a cozy home to settle down in or an investment property with potential for appreciation, Sequoyah Hills has something to offer everyone. From beautiful single-family homes to luxurious multi-family properties, there's something here for everyone. With its stunning views and convenient location, Sequoyah Hills is the perfect place to find your dream home. Contact Shawn Wilmoth REALTOR® today for help finding exactly what you're looking for. www.shawnwilmoth.com

Realtor.comIf you missed out on the first two missile silos that recently came on the market in Nebraska, you’re in luck. There’s now a third missile silo up for sale in the state. And someone interested in Cold War history should nab it.Listing agents Polly and Mike Figeuroa, both with BancWise Realty, have found an unlikely niche in Atlas-F missile silo sales.“Sometimes you find a niche. Sometimes they find you,” says Mike. He and his wife have listed three former missile silos this year.“When we look back to April of this year, we didn’t even know that these missile silos existed, and now we’ve become the Nebraska experts on Atlas-F missile silos,” he says.This silo is on over 9 acres in Elmwood and is listed for $800,000. But it probably won’t be available for long.Exterior Mike & Polly Figueroa Silo sitesMike & Polly Figueroa The first silo was sold in about 12 days. The second silo found a buyer in about six days.“We got that first call and learned a little bit about Atlas-F missile silos here, not realizing there were 12 of them within a 60-mile radius of Lincoln,” Mike says. “Then thinking that one was an anomaly, then getting two, we thought, wow, lightning struck twice. And the day before that closed, we got a call for the third.”Launch doorsMike & Polly FigueroaDecommissioned missile sitesThe U.S. government decommissioned the Atlas-F sites in 1965. While operational, the missile itself was in a vertical silo that was connected by a 40-foot tunnel to an adjoining control center that had living spaces.This property has a large building with about 3,200 square feet of finished space. Inside, there is a space that can hold up to 300 people with a commercial kitchen and two bathrooms.“This one was a salvage yard for many years that has since been cleaned off. The land has been used and is permitted as an outdoor gun range,” Mike explains. The building has been used “a little bit as a community preparedness training facility where they teach people about canning foods and supplying in case of emergency.”BuildingsMike & Polly FigueroaInteriorMike & Polly FigueroaBut the missile silo and event space attract the most attention.“It’s in really bad shape, and other than salvage, really nothing has been touched since it was decommissioned in 1965. It still has kind of the skeleton of the launch command center. You can see the walls, the partitions, the bathroom, the area where the kitchen used to be, and kind of the outline of where the bunk area was.”The silo itself is in worse shape. It’s been filled with lots and lots of tires.“It has 70,000 tires in it in addition to 125 feet of groundwater,” Mike explains, adding it won’t be an easy task to remove the tires.“Lifting the silo doors open again is a task because of the weight of those. They used to have giant hydraulic motors and lifts on them, but those were removed when they were decommissioned,” he says.Each door weighs about 90 tons.“When this was a salvage yard, one of those doors was open and apparently trucks would back up to it and dump tires in it,” he says. The door has since been closed because of liability concerns.Launch command centerMike & Polly FigueroaWhile the property isn’t zoned residential, Figueroa notes that it’s a possibility.“It could easily be modified and turned into a residence, or at least to a point where somebody could stay there if they wanted to work on the project of cleaning out the launch command center and making it a livable structure.”Several people have already shown an interest in the property. And Mike is also prepared to field more phone calls about listing silos for sale.“You never know. There are nine more near Lincoln,” he adds.StairsMike & Polly FigueroaThe post This One’s the Charm: Third Atlas-F Missile Silo Blasts Onto the Market in Nebraska for $800K appeared first on Real Estate News & Insights | realtor.com®.

Growing East Tennessee It is no secret that east Tennessee and the Knoxville   area is growing.  Folks from cities all over the country are looking for more peaceful areas with less crime and fresher air.   As cities like Knoxville grow, areas surrounding become hot spots for residential growth.  And, with residential growth comes new business opportunities.     There is also something to be said about the area and how one can experience all four seasons.  Mild winters are a draw for those fleeing the freezing tempatures of some of the northern states.  Commercial Property Available  Located in beautiful New Market, Tennessee, this viable commercial property is ready for the right owner to reestablish a business and conduct commerce.   This property has over 200 feet of road frontage on state Highway 11E with a crossover at one end of the lot for easy access. Once used as a gas station, a block plant and a car dealership this commercial real estate has many options for future use.  Several outbuildings are about the property as well. Two recently inspected and approved fuel tanks are located on the property and ready for use.  New Market is a growing community but no so much that there are a lot of restrictions.  Highway 11E also known as Andrew Johnson Highway which this property adjoins is a daily travel route for commuters heading to Knoxville to the west or to Morristown to the east. Other properties along this stretch of highway have developed over the past few years and  are now several businesses around and near the property such as Family Dollar Stores, Service electric and a kidney dialysis center.       This commercial property is just 20 miles from Knoxville, which is not only one of the fastest growing cities in the United States but it also the third largest city in the state.  The property is just 15 miles from Morristown, Tennessee.  Morristown is a city known for being one of the largest, if not the largest, industrial hubs in the state. And, last, but not least New Market is less than 30 miles from Sevier County.  Sevier County consists of Pigeon Forge, one of the most visited entertainment cities in the United States.  And, also Gatlinburg, which is the entrance to the Great Smoky Mountains National Park.  Other properties along this stretch of highway have developed over the past few years and  are now several businesses around and near the property such as Family Dollar Stores, Service electric and a kidney dialysis center.        This area of east Tennessee and the New Market is a growing area with great opportunities for business or investment.  Don’t let this one get away.   It help to have an experience commercial realtor to make the process go smoothly.  Contact Shawn Wilmoth today for more information or for a showing on this commercial property.  

There are many things that people think of when they're considering buying or selling a home, but choosing the right realtor can be one of the most important. Those who choose to work with an experienced and knowledgeable agent may find themselves saving time and money, as well as navigating through what could otherwise be confusing processes. Here are seven questions to ask any realtor you might be considering working with. 1. How Long Have You Been Working as a Realtor? The amount of experience a realtor has can be indicative of their expertise in the field. Someone who has been practicing for a while will likely have more knowledge about the industry and how to help you successfully buy or sell your home. 2. What Is Your Success Rate? When considering any professional, it's important to know their success rate. Ask the realtor how often they have helped buyers buy a home that met their expectations and how often sellers received the price they were hoping for. 3. What Is Your Specialty? Not all realtors are created equal. Some may specialize in working with buyers, while others may work mainly with sellers. It's important to find someone whose specialty aligns with your needs and goals. 4. What Are Your Fees? Realtors typically charge a commission for their services, which is usually a percentage of the home's sale price. Be sure to ask the realtor about their fees upfront, so there are no surprises later. 5. What Kind of Training Do You Have? Look for a realtor who actively keeps up with industry trends and is well-versed in the latest technology, as these can often make a big difference in their success. 6. How Familiar Are You with the Area? A good realtor should be intimately familiar with the neighborhoods where you're looking to buy or sell a home. Ask them about their experience working in that particular market and what they think of the current housing climate. 7. Do You Have Any Other Clients I Could Talk To? One of the best ways to get a feel for whether or not a realtor is the right fit is to speak with their past clients. Ask the realtor if they have any references you could speak to and see what their experiences were like working with them. Generation X (born between 1965 and 1979) makes up the greatest number of homebuyers in the United States. So, if you are a member of Gen X or any other generation and are planning to purchase or sell a home in the near future, it is important that you do your research before selecting a realtor. Ask around and interview several candidates before making your decision. The questions above will help get you started.