HUD and the Treasury Department have launched a new Web site designed to help consumers understand the administration’s loan modification program. The site is MakingHomeAffordable.gov.
The site offers a number of tools to help borrowers determine if they’re eligible to participate in the program. Borrowers can calculate the monthly mortgage payment reductions they could realize under the Obama program. A HUD statement said more than 2,500 loan servicers, investors, representatives of non-profits and housing counselors already have been briefed on the program to assist borrowers.
JOSHANDERSON RealEstateConsultant TheAndersonGroup cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054 Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215 www.JoshAndersonRealEstate.com Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Tuesday, March 24, 2009
Monday, March 16, 2009
Buying a home after a divorce
Buying a Home After Divorce
When the love is gone, what do you have left? A new beginning. Divorce can emotionally, mentally, physically, and financially exhaust a person, but if you’re smart it doesn’t have to ruin you. Get ready to roll up your sleeves, because a divorce can easily get rough when finances are involved. Here are some things to help you find your way to home ownership after a divorce.
Before Divorce. If you have the foresight to see the end near, here are some key steps you can take before the papers are filed to ensure you are poised to own a home on your own.
Know your finances. With marriage comes financial entanglement. Your spouses financial status is effecting yours as well. If there are joint accounts, settle them. Make sure payments are up to date and close as many accounts as possible.
Know the law. Your states law will dictate settlements and responsibilities of each marital party. If you know there is no chance of reconciliation or settlement, get a lawyer.
Determine what you will do next. Create a budget based on what you will do once the divorce begins. Determine attorney fees, housing cost, personal expenses, etc.
Build credit. Get individual credit that will help establish personal credit. Depending on your spouses financial situation, your credit may change after the divorce.
During Divorce. So the bomb has dropped. Now what? Here is what you should keep in mind during your divorce.
Consider mediation. If a split is amicable, avoid the huge expense lawyers create during divorce. Save as much money in court cost so that both parties can benefit.
Keep the Lawyers to a minimum (if possible). During a divorce you must remember to treat the split as a business transaction. If you go into debt here, regardless of your settlement ,you are only hurting yourself. Lawyers, if unnecessary, are a wasted form of communication when you consider the fee. Lawyers should not be used for emotional counseling or personal messengers.
Understand your responsibilities. Know what you need to pay. Understand that any agreement not in writing is hard to uphold. For those interested in keeping the house after the divorce, understand that signing over a home may not exclude you from financial responsibility from the mortgage. Get this all settled before signing.
Buying a House during a divorce. Each state holds varying laws on what rights your ex may have on the purchase of a new property before the divorce is settled. Know the law before you proceed in order to safeguard your assets.
After Divorce. Unchained and starting over. With the past behind you, here are the first steps to take into your bright new home buying future.
Evaluate your current financial status. This involves investigating your current credit score, evaluating your finances, and developing a budget to see if you are capable of paying for a new home.
Get pre-qualified. Being Pre-approved for a home will make you more enticing to a seller or Realtor.
This assists you in preventing numerous inquiries while comparing lenders because such inquiries can appear negative to lenders.
All home buying rules still apply. Ensure your new home is a wise investment that has potential to gain equity, will resale easily, and is an accurate reflection of what YOU want. Follow regular home buying tips to make sure you are buying rationally.
Learn from your past. If your divorce caused you financial woes, evaluate what went wrong in order to safeguard yourself from repeating the same mistakes.
Divorce, sadly, has become a very normal occurrence for many people. A standard result of any divorce is the need for each separated party to start over, sometimes from scratch. The toughest challenges individuals face buying a home usually occur after a divorce. Frequently finances get jumbled together, credit reports may reflect the former spouse’s debt, and a reduction of a once two persons net income all prove to be difficult challenges. However; with proper planning and the right expectations, buying a new home should prove to be an exciting time symbolizing a fresh new beginning...
JOSHANDERSON RealEstateConsultant TheAndersonGroup cell: 615.509.7000
office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
http://www.joshandersonrealestate..com/ Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
When the love is gone, what do you have left? A new beginning. Divorce can emotionally, mentally, physically, and financially exhaust a person, but if you’re smart it doesn’t have to ruin you. Get ready to roll up your sleeves, because a divorce can easily get rough when finances are involved. Here are some things to help you find your way to home ownership after a divorce.
Before Divorce. If you have the foresight to see the end near, here are some key steps you can take before the papers are filed to ensure you are poised to own a home on your own.
Know your finances. With marriage comes financial entanglement. Your spouses financial status is effecting yours as well. If there are joint accounts, settle them. Make sure payments are up to date and close as many accounts as possible.
Know the law. Your states law will dictate settlements and responsibilities of each marital party. If you know there is no chance of reconciliation or settlement, get a lawyer.
Determine what you will do next. Create a budget based on what you will do once the divorce begins. Determine attorney fees, housing cost, personal expenses, etc.
Build credit. Get individual credit that will help establish personal credit. Depending on your spouses financial situation, your credit may change after the divorce.
During Divorce. So the bomb has dropped. Now what? Here is what you should keep in mind during your divorce.
Consider mediation. If a split is amicable, avoid the huge expense lawyers create during divorce. Save as much money in court cost so that both parties can benefit.
Keep the Lawyers to a minimum (if possible). During a divorce you must remember to treat the split as a business transaction. If you go into debt here, regardless of your settlement ,you are only hurting yourself. Lawyers, if unnecessary, are a wasted form of communication when you consider the fee. Lawyers should not be used for emotional counseling or personal messengers.
Understand your responsibilities. Know what you need to pay. Understand that any agreement not in writing is hard to uphold. For those interested in keeping the house after the divorce, understand that signing over a home may not exclude you from financial responsibility from the mortgage. Get this all settled before signing.
Buying a House during a divorce. Each state holds varying laws on what rights your ex may have on the purchase of a new property before the divorce is settled. Know the law before you proceed in order to safeguard your assets.
After Divorce. Unchained and starting over. With the past behind you, here are the first steps to take into your bright new home buying future.
Evaluate your current financial status. This involves investigating your current credit score, evaluating your finances, and developing a budget to see if you are capable of paying for a new home.
Get pre-qualified. Being Pre-approved for a home will make you more enticing to a seller or Realtor.
This assists you in preventing numerous inquiries while comparing lenders because such inquiries can appear negative to lenders.
All home buying rules still apply. Ensure your new home is a wise investment that has potential to gain equity, will resale easily, and is an accurate reflection of what YOU want. Follow regular home buying tips to make sure you are buying rationally.
Learn from your past. If your divorce caused you financial woes, evaluate what went wrong in order to safeguard yourself from repeating the same mistakes.
Divorce, sadly, has become a very normal occurrence for many people. A standard result of any divorce is the need for each separated party to start over, sometimes from scratch. The toughest challenges individuals face buying a home usually occur after a divorce. Frequently finances get jumbled together, credit reports may reflect the former spouse’s debt, and a reduction of a once two persons net income all prove to be difficult challenges. However; with proper planning and the right expectations, buying a new home should prove to be an exciting time symbolizing a fresh new beginning...
JOSHANDERSON RealEstateConsultant TheAndersonGroup cell: 615.509.7000
office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
http://www.joshandersonrealestate..com/ Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
IRS form 5405: Buyer Tax Credit
From The IRS:The First Time Home Buyer Tax Credit Form!!
As part of the American Recovery and Reinvestment Act of 2009, the IRS has officially released Form 5405 -- better known as the First-Time Homebuyer Credit Form.
True to tax code standards, the 10-field form is accompanied by 3 pages of instructions.
Form 5405 is a helpful, go-to resource for home buyers with questions about the tax credit.
For example, the form distinguishes tax consequences for homes bought in 2008 versus 2009, and clearly defines the term "first-time home buyer".
In addition, Form 5405 highlights the math behind the tax credit. In general, the First-Time Homebuyer Credit is equal to the lesser of:
$8,000 for homes bought in 2009
10 percent of the home's purchase price
Married couples filing separately are entitled to half of the expected credit, and homes sold within 3 years are subject to a credit repayment in the year the home ceases to be the "main home".
Form 5405 is a comprehensive reference. However, be sure to check with your accountant for specific questions about your personal returns and how the First-Time Homebuyer Credit may impact your finances. There is no substitute for professional, paid advice.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate..com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
As part of the American Recovery and Reinvestment Act of 2009, the IRS has officially released Form 5405 -- better known as the First-Time Homebuyer Credit Form.
True to tax code standards, the 10-field form is accompanied by 3 pages of instructions.
Form 5405 is a helpful, go-to resource for home buyers with questions about the tax credit.
For example, the form distinguishes tax consequences for homes bought in 2008 versus 2009, and clearly defines the term "first-time home buyer".
In addition, Form 5405 highlights the math behind the tax credit. In general, the First-Time Homebuyer Credit is equal to the lesser of:
$8,000 for homes bought in 2009
10 percent of the home's purchase price
Married couples filing separately are entitled to half of the expected credit, and homes sold within 3 years are subject to a credit repayment in the year the home ceases to be the "main home".
Form 5405 is a comprehensive reference. However, be sure to check with your accountant for specific questions about your personal returns and how the First-Time Homebuyer Credit may impact your finances. There is no substitute for professional, paid advice.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate..com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
10 Reasons to own instead of rent(not what you'd expect)
We’ve all heard the familiar reasons to own instead of rent. “Build equity”, “invest in your future”, “stop paying someone elses mortgage”, “forced savings plan”, etc. I have constructed a list of own-not-rent motives that you may not have thought about.
10 Reasons to Own Instead of Rent (not what you’d expect)
We’ve all heard the familiar reasons to own instead of rent. “Build equity”, “invest in your future”, “stop paying someone elses mortgage”, “forced savings plan”, etc. I have constructed a list of own-not-rent motives that you may not have thought about.
10 (different) reasons to own a home instead of renting.
You can move in and out when you want to, you don’t have to wait till your lease is up.
No one has to approve the colors you paint your walls.
You actually could be paying less monthly in your own home than similar rentals. Enough to make a difference.
You don’t have to inform anyone that your living arrangement has changed.
Want new lighting fixtures? Not a problem.
Typically, your mortgage payment doesn’t ever increase, unlike rent. (Unless you get an ARM)
Staying in your home longer, means you can become more involved in the local community.
You don’t have to ask anyone to fix your shower head, just do it yourself.
Help build your credit by paying on time.
Most importantly: You don’t have to ask anyone if you can have a pet! Please Adopt
Are you a first time home buyer? call me to get started with my exclusive first time buyers packet.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
10 Reasons to Own Instead of Rent (not what you’d expect)
We’ve all heard the familiar reasons to own instead of rent. “Build equity”, “invest in your future”, “stop paying someone elses mortgage”, “forced savings plan”, etc. I have constructed a list of own-not-rent motives that you may not have thought about.
10 (different) reasons to own a home instead of renting.
You can move in and out when you want to, you don’t have to wait till your lease is up.
No one has to approve the colors you paint your walls.
You actually could be paying less monthly in your own home than similar rentals. Enough to make a difference.
You don’t have to inform anyone that your living arrangement has changed.
Want new lighting fixtures? Not a problem.
Typically, your mortgage payment doesn’t ever increase, unlike rent. (Unless you get an ARM)
Staying in your home longer, means you can become more involved in the local community.
You don’t have to ask anyone to fix your shower head, just do it yourself.
Help build your credit by paying on time.
Most importantly: You don’t have to ask anyone if you can have a pet! Please Adopt
Are you a first time home buyer? call me to get started with my exclusive first time buyers packet.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
8 BIG Mistakes that cost YOU money when buying your home
8 Big Time Mistakes
That cost you money when buying your home.
#1 Failing to use the services of an experienced REALTOR. Many times buyers avoid using the services of a REALTOR under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's agent. This can be an expensive mistake.
If you are negotiating directly with the seller or seller's agent, you may not be taking advantage of the best deal available in the marketplace today! You can have your own REALTOR, a Buyer Broker or Purchaser's Agent, who is committed to using the experience gained through hundreds of successful negotiations for your benefit - at no charge to you! Your agent can be paid from the same commission that the seller's agent is paid from - by the seller.
Real Estate is a unique business, where an agent with one day's experience and no sales gets paid the same as an agent with several years experience and hundreds of successful sales. An experienced agent can help you avoid the other costly mistakes outlined here, and make your home buying experience an enjoyable, stress-free one!
#2 Not knowing who the agent is really working for. It is important for buyers to know and understand for whom the agent helping with the house hunting is actually working. The agent may be working as a sub agent - representing the seller's best interests during negotiations - or as your agent representing your best interests during negotiations. If you are not sure who your agent is working for - ask for clarification. Your REALTOR must fully explain agency. When negotiations commence, wouldn't you want to know whether information you divulge will be used for the seller's benefit - or your's?
#3 Failing to have a Comparative Market Analysis prepared before offering. Before you make an offer to purchase that special home, you must have a good idea what the market value is to ensure you do not overpay. Your agent can prepare a Comparative Market Analysis showing what similar homes have recently sold for, and the difference between the asking and selling prices. This is the same type of report the seller receives when deciding on an asking price. Wouldn't you like to have access to the same information as the seller?
#4 Failing to recognize different negotiating styles and strategies. Many buyers think that the way to achieve a fair purchase price is by offering low. This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that type of strategy will polarize negotiations and lead to inflexibility on part of the seller - or worse yet - failed negotiations!
If you have chosen your REALTOR wisely, the most effective strategies for this particular situation will be revealed to you. Remember, in the real estate business, an agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a better deal at the negotiating table with a minimum amount of hassles.
#5 Failing to have the home inspected by a competent home inspection company. Buying a home is a major purchase usually made after spending just half an hour looking at the home. Isn't it worth ensuring you will not be surprised later with deficiencies costing thousands? Your REALTOR can recommend several reputable companies for you to choose from, and will ensure the appropriate clause is inserted in the offer.
#6 Not knowing and understanding your rights and obligations set out in the Offer To Purchase. It is important to understand completely the terms of the Offer to Purchase. Wrong assumptions, poorly written or missing clauses, and not understanding how the clauses affect the purchase, can lead to increased costs or a void contract. An experienced REALTOR can thoroughly explain the agreement to you and help you to fulfill your contractual obligations.
#7 Letting emotion blind reason. Buying a home is an exciting time and is usually an emotional decision. It is important that those emotions be validated by facts and reason. An experienced agent will help to remove the emotion from the negotiating process and provide you with the information you need to make the right decisions.
#8 Failing to take the steps to be financially pre-qualified, and having an interest rate guarantee before looking at homes. Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. Having an interest rate guarantee will protect you in times of fluctuating rates and ensure that your initial projected payments do not suddenly escalate, resulting in extra interest charges. An experienced REALTOR can help you initiate this process and can also recommend alternative sources of financing.
Being aware of these Big Time mistakes will help ensure you receive best value for your dollar when the time comes to buy your home!
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
That cost you money when buying your home.
#1 Failing to use the services of an experienced REALTOR. Many times buyers avoid using the services of a REALTOR under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's agent. This can be an expensive mistake.
If you are negotiating directly with the seller or seller's agent, you may not be taking advantage of the best deal available in the marketplace today! You can have your own REALTOR, a Buyer Broker or Purchaser's Agent, who is committed to using the experience gained through hundreds of successful negotiations for your benefit - at no charge to you! Your agent can be paid from the same commission that the seller's agent is paid from - by the seller.
Real Estate is a unique business, where an agent with one day's experience and no sales gets paid the same as an agent with several years experience and hundreds of successful sales. An experienced agent can help you avoid the other costly mistakes outlined here, and make your home buying experience an enjoyable, stress-free one!
#2 Not knowing who the agent is really working for. It is important for buyers to know and understand for whom the agent helping with the house hunting is actually working. The agent may be working as a sub agent - representing the seller's best interests during negotiations - or as your agent representing your best interests during negotiations. If you are not sure who your agent is working for - ask for clarification. Your REALTOR must fully explain agency. When negotiations commence, wouldn't you want to know whether information you divulge will be used for the seller's benefit - or your's?
#3 Failing to have a Comparative Market Analysis prepared before offering. Before you make an offer to purchase that special home, you must have a good idea what the market value is to ensure you do not overpay. Your agent can prepare a Comparative Market Analysis showing what similar homes have recently sold for, and the difference between the asking and selling prices. This is the same type of report the seller receives when deciding on an asking price. Wouldn't you like to have access to the same information as the seller?
#4 Failing to recognize different negotiating styles and strategies. Many buyers think that the way to achieve a fair purchase price is by offering low. This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that type of strategy will polarize negotiations and lead to inflexibility on part of the seller - or worse yet - failed negotiations!
If you have chosen your REALTOR wisely, the most effective strategies for this particular situation will be revealed to you. Remember, in the real estate business, an agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a better deal at the negotiating table with a minimum amount of hassles.
#5 Failing to have the home inspected by a competent home inspection company. Buying a home is a major purchase usually made after spending just half an hour looking at the home. Isn't it worth ensuring you will not be surprised later with deficiencies costing thousands? Your REALTOR can recommend several reputable companies for you to choose from, and will ensure the appropriate clause is inserted in the offer.
#6 Not knowing and understanding your rights and obligations set out in the Offer To Purchase. It is important to understand completely the terms of the Offer to Purchase. Wrong assumptions, poorly written or missing clauses, and not understanding how the clauses affect the purchase, can lead to increased costs or a void contract. An experienced REALTOR can thoroughly explain the agreement to you and help you to fulfill your contractual obligations.
#7 Letting emotion blind reason. Buying a home is an exciting time and is usually an emotional decision. It is important that those emotions be validated by facts and reason. An experienced agent will help to remove the emotion from the negotiating process and provide you with the information you need to make the right decisions.
#8 Failing to take the steps to be financially pre-qualified, and having an interest rate guarantee before looking at homes. Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. Having an interest rate guarantee will protect you in times of fluctuating rates and ensure that your initial projected payments do not suddenly escalate, resulting in extra interest charges. An experienced REALTOR can help you initiate this process and can also recommend alternative sources of financing.
Being aware of these Big Time mistakes will help ensure you receive best value for your dollar when the time comes to buy your home!
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Sunday, March 15, 2009
5 Reasons Why Now is a GREAT time to be a 1st Time Home buyer
5 reasons why I think now is a great time to be a first time homebuyer:
5.) Selection: There are a lot of homes currently on the market to choose from. The large selection gives buyers a lot to look at and compare other homes with; which increases the chances of finding the right home for you.
4.) Low Interest Rates: Need I say more? Low interest rates can be great when it comes to your monthly payment. Rates are so low right now that you may even be able to afford a 20 or 15 year mortgage vs. a 30 year!
3.) Loan Options: There are several different types of loans that a buyer may qualify for. Some FHA Loans offer 100% financing! There are also Rural Development loans, VA loans and conventional loans. Talk to your banker to see which loans you may quality for.
2.) Competitively Priced Homes: Due to the large selection of homes on the market, many sellers are pricing their homes very competitively. Does this mean they'll give their home away - probably not. But, it's important that both buyers and sellers understand that homes are still selling if they're realistically and competitively priced.
1.) First Time Homebuyer Tax Credit: With the new first time homebuyer tax credit you may qualify for a tax credit up to 10% of the cost of your home (up to $8,000). For more information you can visit: www.federalhousingtaxcredit.com
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Find me on twitter: www.Twitter.com/RealtorJosh
Saturday, March 14, 2009
Nashville Real Estate
Welcome to your #1 source for Nashville Real Estate, including Davidson and Williamson County!
Would you trust a novice with one of the most important financial transactions of your life?
Of course not – when it comes to buying or selling property in Middle TN, you would absolutely insist on working with an experienced professional who brings to the table assets such as:
*The successful completion of hundreds of real estate transactions in the Middle Tennessee real estate market
*A stellar reputation and a vast knowledge of Nashville, Brentwood, Franklin and the surrounding areas.
*Realtors who are seasoned in the sale and purchase of investment properties
*Local experts who know the ins and outs of communities like Brentwood, Cool Springs, Belle Meade, Green Hills, Franklin, and more
Trust the professionals at The Anderson Group with Keller Williams Realty to assist you with all your Nashville Real Estate needs!
If you’re looking for a sound real estate investment, look no further than Middle Tennessee and especially Nashville real estate. Properties in this region have enjoyed a steady growth throughout the past ten years and experts anticipate that this trend will continue into the foreseeable future.
Here at The Anderson Group, we stay on top of trends in area values – we won’t steer you wrong.
Click on any of these links to learn more about Nashville schools, mortgages, inspections, and homeowners insurance today.
In the Market for Nashville Luxury Homes and Condos?
You won’t find a bigger selection of luxury homes, townhomes and gorgeous condos than what’s available through Josh Anderson of The Anderson Group . We are experts in buying Tennessee Resort Property, TN Waterfront Property, Luxury Waterfront Homes, TN Retirement Property, Middle Tennessee estate homes, downtown Nashville condos and Williamson County real estate. Don’t trust just anyone for an important purchase like this – instead, let Nashville's best Realtors go to work for you. From first-time condo buyers in downtown Nashville to seasoned real estate investors looking for an estate home in Brentwood, our team of Realtors will surpass your expectations. Let us handle your real estate transaction from start to finish, with our comprehensive Nashville MLS search. We are your #1 Realtor in Nashville and we can assist you with everything from locating and valuing residential investment properties, to building wealth portfolios, and arranging luxury property management.Contact us today!
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Would you trust a novice with one of the most important financial transactions of your life?
Of course not – when it comes to buying or selling property in Middle TN, you would absolutely insist on working with an experienced professional who brings to the table assets such as:
*The successful completion of hundreds of real estate transactions in the Middle Tennessee real estate market
*A stellar reputation and a vast knowledge of Nashville, Brentwood, Franklin and the surrounding areas.
*Realtors who are seasoned in the sale and purchase of investment properties
*Local experts who know the ins and outs of communities like Brentwood, Cool Springs, Belle Meade, Green Hills, Franklin, and more
Trust the professionals at The Anderson Group with Keller Williams Realty to assist you with all your Nashville Real Estate needs!
If you’re looking for a sound real estate investment, look no further than Middle Tennessee and especially Nashville real estate. Properties in this region have enjoyed a steady growth throughout the past ten years and experts anticipate that this trend will continue into the foreseeable future.
Here at The Anderson Group, we stay on top of trends in area values – we won’t steer you wrong.
Click on any of these links to learn more about Nashville schools, mortgages, inspections, and homeowners insurance today.
In the Market for Nashville Luxury Homes and Condos?
You won’t find a bigger selection of luxury homes, townhomes and gorgeous condos than what’s available through Josh Anderson of The Anderson Group . We are experts in buying Tennessee Resort Property, TN Waterfront Property, Luxury Waterfront Homes, TN Retirement Property, Middle Tennessee estate homes, downtown Nashville condos and Williamson County real estate. Don’t trust just anyone for an important purchase like this – instead, let Nashville's best Realtors go to work for you. From first-time condo buyers in downtown Nashville to seasoned real estate investors looking for an estate home in Brentwood, our team of Realtors will surpass your expectations. Let us handle your real estate transaction from start to finish, with our comprehensive Nashville MLS search. We are your #1 Realtor in Nashville and we can assist you with everything from locating and valuing residential investment properties, to building wealth portfolios, and arranging luxury property management.Contact us today!
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
**First Time Homebuyers**
Many call it the American dream, but home ownership can become a nightmare for first-time buyers who aren't prepared.Many buyers get trapped in homes they can't afford because of expensive mortgages that may be Adjustable Rate(ARM), interest -only, or negative amortization. As you may know, I am a real estate consultant with Keller Williams in Nashville, TN.
I think There is a need to educate first-time home buyers because they can be victimized by predatory lenders.Buying your first home can be a little scary because it's probably the biggest investment you've ever made, but if you are educated by your Realtor with information when you see a loan officer, you're not as likely to get into something that's not right for you or that you will not be able to afford down the road.Here's some advice on what first-time buyers should do before purchasing a home:Check your credit rating: The average credit score in the U.S. is 678. Beome familiar with what's on your credit report because you will use it for big purchases and many people are surprised when they see it for the first time. Your credit is affected in a lot of different ways as well.Credit ratings are used by lenders to determine what interest rate to charge for a mortgage, but not all are accurate. Sometimes bad debts from one person are listed on the credit report of another person with the same or similar name, which can lower a credit score.Besides mistakes, delinquent debts also can drag down credit ratings. Fix your credit as soon as you can because you get better rates for having a better score!Pay off bills: Lenders consider all forms of debt when determining how much to lend for a home loan, so buyers can qualify for higher mortgage limits if they first pay off other loans. Never make a big purchase, such as buying a new car, when you are about to buy a home.Mortgage lenders typically reduce home loan limits by $10,000 for every $50 a couple owes in minimum monthly payments for credit cards or car loans. Couples who owe $500 a month in credit and car payments, therefore, can have their mortgage limits slashed by $100,000.Calculate what's affordable: Home shoppers routinely are advised to get prequalified for a mortgage so they know how expensive a home they can buy.But just because a lender says they're qualified for a certain size loan doesn't mean buyers can afford the payments. Always try to get Pre-approved instead of Pre-qualified!Lenders should look at debt-to-income ratios to determine what people actually can afford to pay every month. This should not exceed 28%.I think home buyers should fill out a detailed monthly income and expense record.Just because a mortgage broker says a couple qualifies for a $2,500-a-month loan payment doesn't mean they have that much to spare.Most first-time buyers don't realize that in addition to paying for the principal and interest on their loan, they also will have to pay property taxes, mortgage insurance and probably more for water, sewer, electricity and gas than they did as a renter.Be responsible and never buy more house than you really can afford. Just because you are approved for $250,000 does not mean you have to spend that amount. Stay within your means. Do the math. It's smart to figure out what payment you can live with comfortably.Research loans: Many people think they're getting great loans, but a lot of times they are not. Many mortgages will stick you with hidden fees until yo uget to the closing table or some type of adjustable fee or penalty, so be careful to go with a reputable lender.Some mortgages require buyers to pay 4 percent of the loan in advance in the form of "points," even when the buyers' credit scores qualified them for upfront payments half that high.Many buyers also get confused when getting funding from a combination of mortgages, like a first loan that covers 80 percent of the debt and a second loan that covers the remaining 20 percent.The second loan always has a higher interest rate than the first loan because it's more risky for the lender, but it gets you out of paying the PITI (principal, interest, taxes, and Insurance)Two loans aren't always necessary. Buyers with a credit score of 680 or higher should be able to get 100 percent financing with one mortgage at a good rate.I think borrowers should be wary of adjustable-rate loans and those that require interest-only payments.Pick an agent: Not all real estate agents are equally talented or committed to helping first-time buyers. Some agents do not care or do not want to educate buyers, but this is very important at all stages, particularly for first time homebuyers! There is a learning curve with homebuying and you need to learn and know all the steps. Many first timers do not know what earnest money is and do not understand the purpose, but it is a consideration and it shows the seller that you are serious about buying their property. The higher the earnest money amount, the more serious you look. Typically, you offer 1% of the asking price, but if it is a hot market, you may want to offer more because there will be many offers on the table.Shop for a home: Start with a condo if you have to and work your way up from there. This is not your forever and ever home, just a starter. You need to realize this is your first home. It is your foot in the door. After you build up equity, then you can move up.Make deal contingent: Before signing any purchase contract buyers should make sure it lets them get their down payment back if something goes wrong.These contingency clauses should include a requirement that the home pass an extensive home inspection as well as financing.Shop around for a good home inspector and be present during the inspection. Your agent should have a list of inspectors, lenders, title companies and anything else you may need. Be present during the inspection if yo ucan and if not, have your agent present. Avoid using any inspector recommended by the seller or the seller's agent.Buyers also should be able to get their down payment back if the appraised value of the house shows the sales price was too high.Read everything: Loan documents and sales contracts typically are extensive and complicated. You must read your documents. If you don't understand everything, it's OK to get someone to explain it to you.Compare what you were told would be in the documents -- interest rates and loan conditions -- with what's printed.Ask question...do not be embarrassed. Buyers also should be wary of verbal promises that aren't included in the contracts. If it's not in writing, it doesn't exist!Expect closing costs: Even if a 100 percent loan has been arranged, buyers typically must come up with some cash for required fees.You should have at least 3 percent of your loan amount available to cover closing costs. Some mortgages will allow you to wrap it into your mortgage, but if you cannot afford the 3%, my opinion is that you should not be buying a house!I recommend buyers have at least two months worth of mortgage payments in reserve to cover emergencies as well.
FOR MORE INFORMATION: Call me at 615.509.7000 or visit my website at www.joshandersonrealestate.com
I think There is a need to educate first-time home buyers because they can be victimized by predatory lenders.Buying your first home can be a little scary because it's probably the biggest investment you've ever made, but if you are educated by your Realtor with information when you see a loan officer, you're not as likely to get into something that's not right for you or that you will not be able to afford down the road.Here's some advice on what first-time buyers should do before purchasing a home:Check your credit rating: The average credit score in the U.S. is 678. Beome familiar with what's on your credit report because you will use it for big purchases and many people are surprised when they see it for the first time. Your credit is affected in a lot of different ways as well.Credit ratings are used by lenders to determine what interest rate to charge for a mortgage, but not all are accurate. Sometimes bad debts from one person are listed on the credit report of another person with the same or similar name, which can lower a credit score.Besides mistakes, delinquent debts also can drag down credit ratings. Fix your credit as soon as you can because you get better rates for having a better score!Pay off bills: Lenders consider all forms of debt when determining how much to lend for a home loan, so buyers can qualify for higher mortgage limits if they first pay off other loans. Never make a big purchase, such as buying a new car, when you are about to buy a home.Mortgage lenders typically reduce home loan limits by $10,000 for every $50 a couple owes in minimum monthly payments for credit cards or car loans. Couples who owe $500 a month in credit and car payments, therefore, can have their mortgage limits slashed by $100,000.Calculate what's affordable: Home shoppers routinely are advised to get prequalified for a mortgage so they know how expensive a home they can buy.But just because a lender says they're qualified for a certain size loan doesn't mean buyers can afford the payments. Always try to get Pre-approved instead of Pre-qualified!Lenders should look at debt-to-income ratios to determine what people actually can afford to pay every month. This should not exceed 28%.I think home buyers should fill out a detailed monthly income and expense record.Just because a mortgage broker says a couple qualifies for a $2,500-a-month loan payment doesn't mean they have that much to spare.Most first-time buyers don't realize that in addition to paying for the principal and interest on their loan, they also will have to pay property taxes, mortgage insurance and probably more for water, sewer, electricity and gas than they did as a renter.Be responsible and never buy more house than you really can afford. Just because you are approved for $250,000 does not mean you have to spend that amount. Stay within your means. Do the math. It's smart to figure out what payment you can live with comfortably.Research loans: Many people think they're getting great loans, but a lot of times they are not. Many mortgages will stick you with hidden fees until yo uget to the closing table or some type of adjustable fee or penalty, so be careful to go with a reputable lender.Some mortgages require buyers to pay 4 percent of the loan in advance in the form of "points," even when the buyers' credit scores qualified them for upfront payments half that high.Many buyers also get confused when getting funding from a combination of mortgages, like a first loan that covers 80 percent of the debt and a second loan that covers the remaining 20 percent.The second loan always has a higher interest rate than the first loan because it's more risky for the lender, but it gets you out of paying the PITI (principal, interest, taxes, and Insurance)Two loans aren't always necessary. Buyers with a credit score of 680 or higher should be able to get 100 percent financing with one mortgage at a good rate.I think borrowers should be wary of adjustable-rate loans and those that require interest-only payments.Pick an agent: Not all real estate agents are equally talented or committed to helping first-time buyers. Some agents do not care or do not want to educate buyers, but this is very important at all stages, particularly for first time homebuyers! There is a learning curve with homebuying and you need to learn and know all the steps. Many first timers do not know what earnest money is and do not understand the purpose, but it is a consideration and it shows the seller that you are serious about buying their property. The higher the earnest money amount, the more serious you look. Typically, you offer 1% of the asking price, but if it is a hot market, you may want to offer more because there will be many offers on the table.Shop for a home: Start with a condo if you have to and work your way up from there. This is not your forever and ever home, just a starter. You need to realize this is your first home. It is your foot in the door. After you build up equity, then you can move up.Make deal contingent: Before signing any purchase contract buyers should make sure it lets them get their down payment back if something goes wrong.These contingency clauses should include a requirement that the home pass an extensive home inspection as well as financing.Shop around for a good home inspector and be present during the inspection. Your agent should have a list of inspectors, lenders, title companies and anything else you may need. Be present during the inspection if yo ucan and if not, have your agent present. Avoid using any inspector recommended by the seller or the seller's agent.Buyers also should be able to get their down payment back if the appraised value of the house shows the sales price was too high.Read everything: Loan documents and sales contracts typically are extensive and complicated. You must read your documents. If you don't understand everything, it's OK to get someone to explain it to you.Compare what you were told would be in the documents -- interest rates and loan conditions -- with what's printed.Ask question...do not be embarrassed. Buyers also should be wary of verbal promises that aren't included in the contracts. If it's not in writing, it doesn't exist!Expect closing costs: Even if a 100 percent loan has been arranged, buyers typically must come up with some cash for required fees.You should have at least 3 percent of your loan amount available to cover closing costs. Some mortgages will allow you to wrap it into your mortgage, but if you cannot afford the 3%, my opinion is that you should not be buying a house!I recommend buyers have at least two months worth of mortgage payments in reserve to cover emergencies as well.
FOR MORE INFORMATION: Call me at 615.509.7000 or visit my website at www.joshandersonrealestate.com
Top 25 market Forecast shows Real Estate Stabilizing
The Top 25 Housing Predictor U.S. Market Forecast for 2007 shows a growing trend of local real estate markets that are stabilizing with thirteen states represented in the annual forecast. Housing Predictor is an information driven website, providing independent local housing market forecasts for all 50 U.S. States.
Battling back from the headlines New Orleans, Louisiana is Housing Predictor’s # 1 pick to appreciate the most in 2007. Despite the loss of nearly half of its residents, the Big Easy has a booming real estate market that is growing almost daily and is forecast to appreciate 8.4% in 2007.
The fixer-upper has become the new major commodity in New Orleans real estate as investors move into the market to repair homes and apartments damaged in the wake of Hurricane Katrina more than at any other time in a natural disaster in the U.S. More than 150,000 homes were damaged or destroyed by Katrina, which hit in August of 2005.
The spirt of the people in New Orleans is becoming less tarnished in the aftermath of the storm. New Orleans has always had a spirit of revelry and showmanship, especially during Mardi Gras. It may have also been given a boost in the form of the New Orleans Saints NFL football team, which has had its best season in years.
Houston, Texas, a city which has been besieged by scandals with Enron and other companies is transforming into a strong real estate market for the first time in more than a decade. Houston is forecast by Housing Predictor to appreciate 7.3% in 2007 to place second in the forecast.
The nation’s southern states are under going the largest growth in history as a migration from colder northern states to the sun-belt quietly reaches near fever pitch. Arkansas, Alabama, Texas and Tennessee are adding more new residents than ever before. Little Rock, which was once a slumbering community has more new businesses moving into the area than ever and will hit 7.0% in home appreciation in 2007, according to Housing Predictor.
Nashville, Tennessee, recognized as the Music City is playing on its own good fortunes as a growing metropolitan area, which along with Odessa, Texas has some of the most affordable housing in the nation and will both hit 6.9% in appreciation by year’s end.
The Top 25 markets represent slightly more than a quarter of the nation’s states. All 13 states have local real estate markets that are appreciating strongly.
In the west, Washington state and Utah have real estate markets that are showing appreciation, which demonstrates how real estate unlike other investments is effected by local regional market economic and political factors.
In Albuquerque, New Mexico the sales of homes and condos had slowed for a few months only to pick back up again as more and more new employers moved to the area. Albuquerque is a growing urban center, which is forecast to appreciate another 6.5% in 2007.
But of all the places that made the annual Top 25 markets list Brownsville and Austin, Texas are two of the strongest U.S. real estate markets. Just a few short years ago after a high tech boom went bust Austin lost population, but a renewed economy and more computer companies moving into the area have pushed the city into a booming economy again and it will score a forecasted 6.1% in appreciation in 2007. Brownsville, which is in seventh place on the list is perhaps the best place to find the least expensive housing in an urban center in the U.S.
Mike Colpittshttp://www.articlesbase.com/real-estate-articles/top-25-market-forecast-shows-real-estate-stabilizing-92241.html
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Battling back from the headlines New Orleans, Louisiana is Housing Predictor’s # 1 pick to appreciate the most in 2007. Despite the loss of nearly half of its residents, the Big Easy has a booming real estate market that is growing almost daily and is forecast to appreciate 8.4% in 2007.
The fixer-upper has become the new major commodity in New Orleans real estate as investors move into the market to repair homes and apartments damaged in the wake of Hurricane Katrina more than at any other time in a natural disaster in the U.S. More than 150,000 homes were damaged or destroyed by Katrina, which hit in August of 2005.
The spirt of the people in New Orleans is becoming less tarnished in the aftermath of the storm. New Orleans has always had a spirit of revelry and showmanship, especially during Mardi Gras. It may have also been given a boost in the form of the New Orleans Saints NFL football team, which has had its best season in years.
Houston, Texas, a city which has been besieged by scandals with Enron and other companies is transforming into a strong real estate market for the first time in more than a decade. Houston is forecast by Housing Predictor to appreciate 7.3% in 2007 to place second in the forecast.
The nation’s southern states are under going the largest growth in history as a migration from colder northern states to the sun-belt quietly reaches near fever pitch. Arkansas, Alabama, Texas and Tennessee are adding more new residents than ever before. Little Rock, which was once a slumbering community has more new businesses moving into the area than ever and will hit 7.0% in home appreciation in 2007, according to Housing Predictor.
Nashville, Tennessee, recognized as the Music City is playing on its own good fortunes as a growing metropolitan area, which along with Odessa, Texas has some of the most affordable housing in the nation and will both hit 6.9% in appreciation by year’s end.
The Top 25 markets represent slightly more than a quarter of the nation’s states. All 13 states have local real estate markets that are appreciating strongly.
In the west, Washington state and Utah have real estate markets that are showing appreciation, which demonstrates how real estate unlike other investments is effected by local regional market economic and political factors.
In Albuquerque, New Mexico the sales of homes and condos had slowed for a few months only to pick back up again as more and more new employers moved to the area. Albuquerque is a growing urban center, which is forecast to appreciate another 6.5% in 2007.
But of all the places that made the annual Top 25 markets list Brownsville and Austin, Texas are two of the strongest U.S. real estate markets. Just a few short years ago after a high tech boom went bust Austin lost population, but a renewed economy and more computer companies moving into the area have pushed the city into a booming economy again and it will score a forecasted 6.1% in appreciation in 2007. Brownsville, which is in seventh place on the list is perhaps the best place to find the least expensive housing in an urban center in the U.S.
Mike Colpittshttp://www.articlesbase.com/real-estate-articles/top-25-market-forecast-shows-real-estate-stabilizing-92241.html
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
2008 mls data from Davidson County
Davidson County MLS Data - 2008
According to the MLS, Davidson County as a whole saw 6,923 residential sales in 2008 averaging a sold price of $220,313 in 74 days. Of that total 4,315 were in Nashville with the remaining 2,608 in other Davidson County areas. The average size of the homes were 1928 sf with 3 bedrooms 2 baths. We’ll look here at the top selling subdivisions in Davidson County cities, and then add in Nashville separately in its own post.
Antioch TN real estate sales
Antioch residential real estate sales totaled 967 in 2008 at an average price of $143,846 with 77 days on the market on average. The number of homes sold is down from 1,345 in 2007. Top selling Antioch TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Lakeside Cove - 34; $170,690; 30 days
2. Summerfield - 28; $196,689; 51 days
3. Asheford Crossing - 27; $148,558; 112 days
4. Peppertree Forest - 26; $108,788; 79 days
5. Old Hickory Hills - 25; $151,711; 81 days
6. Village of Long Hunter - 24; $129,684; 57 days
Other neighborhoods with between 15-23 sales in 2008 were: Barnes Cove, Cambridge Forest, Cherry Hills, Hamilton Chase, Harvest Grove, Hickory Woods, Lake Walk, Maxwell Place, Oak Highlands, October Woods, Towne Village, Preserve at Old Hickory, Towne Village and Piccadilly.
The most expensive neighborhood on average in Antioch was Barnes Bend averaging $309,085. Barnes Cove averaged $256,267, Berkeley Hall averaged $249,600, Apple Valley averaged $242,110 and Blue Hole Pointe at $241,000.
Brentwood TN (Davidson) real estate sales
Brentwood residential real estate sales totaled 152 in 2008 at an average price of $338,897 with 76 days on the market on average. This total number sold is down from 202 in 2007. Top selling Brentwood TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Concord Place - 17; $221,692; 33 days
2. Hearthstone - 11; $305,778; 86 days
3. Banbury Crossing - 10; $328,500; 36 days
4. Autumn Oaks - 10; $240,436; 64 days
5. Copperfield - 10: $275,590; 81 days
6. Sterling Oaks - 9; $279,222; 90 days
Hermitage TN real estate sales
Hermitage residential real estate sales totaled 430 in 2008 at an average price of $182,586 with 73 days on the market on average. This total number sold is down from 563 in 2007. Top selling Hermitage TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Hermitage Hills - 46; $128,393; 66 days
2. Bridgewater - 41; $270,951; 25 days
3. Truxton Park - 17; $161,350; 53 days
4. Jackson Retreat - 14; $136,892; 64 days
Other neighborhoods with a reasonable number of sales were: Hampton Hall, Highlands of Tulip Grove, Hermitage Estates, Hermitage Meadows, Chesney Glen and Tulip Grove.
Cane Ridge TN real estate sales
Cane Ridge residential real estate sales totaled 183 in 2008 at an average price of $207,776 with 67 days on the market on average. The total number sold is up from 167 in 2007. Top selling Cane Ridge TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Sunset Hills - 40; $200,353; 51 days
2. Rivendell Woods - 34; $167,183; 70 days
3. Deer Valley - 16; $248,877; 55 days
4. Oak Highlands - 15; $205,898; 93 days
5. Hidden Creek - 15; $188,682; 57 days
Goodlettsville TN real estate sales
Goodlettsville residential real estate sales totaled 137 in 2008 at an average price of $158,071 with 75 days on the market on average. The total number sold is down from 167 in 2007. Top selling Goodlettsville TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Ivy Hill - 17; $179,089; 92 days
2. Gatewood - 15; $122,663; 64 days
3. Windsor Green - 14; $137,932; 57 days
Old Hickory TN real estate sales
Old Hickory residential real estate sales totaled 188 in 2008 at an average price of $164,022 with 73 days on the market on average. The total number sold is considerably down from 439 in 2007. Top selling Old Hickory TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Villages of Old Hickory - 30; $135,981; 66 days
2. Hampton Park - 18; $160,350; 71 days
3. Waterford - 18; $142,177; 65 days
4. Sherwood Forest - 11; $131,791; 49 days
Madison TN real estate sales
Madison residential real estate sales totaled 355 in 2008 at an average price of $118,109 with 85 days on the market on average. The total number sold is down from 493 in 2007. Top selling Madison TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Cumberland Station - 24; $152,626; 94 days
2. Rainbow Terrace - 11; $79,952; 64 days
3. Heron Walk - 10; $71,330; 72 days
4. Forest Park - 10; $71,330; 72 days
Ashland City only had 4 sales in 2008 and averaged $89,500 sales price. Joelton had 41 sales in 2008 averaging $174,429. Mount Juliet (Davidson) had 11 sales averaging $283,528. Pegram had 5 sales averaging $196,200. Whites Creek had 34 sales averaging $176,775. Nolensville (Davidson) had 58 sales averaging $267,773 which were mostly in Burkitt Place neighborhood (with a handful in Carothers Crossing). Most of the 2007 numbers were similar in these cities, except Nolensville and Mount Juliet which were down by almost 1/2 in 2008 compared to 2007.
According to the MLS, Davidson County as a whole saw 6,923 residential sales in 2008 averaging a sold price of $220,313 in 74 days. Of that total 4,315 were in Nashville with the remaining 2,608 in other Davidson County areas. The average size of the homes were 1928 sf with 3 bedrooms 2 baths. We’ll look here at the top selling subdivisions in Davidson County cities, and then add in Nashville separately in its own post.
Antioch TN real estate sales
Antioch residential real estate sales totaled 967 in 2008 at an average price of $143,846 with 77 days on the market on average. The number of homes sold is down from 1,345 in 2007. Top selling Antioch TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Lakeside Cove - 34; $170,690; 30 days
2. Summerfield - 28; $196,689; 51 days
3. Asheford Crossing - 27; $148,558; 112 days
4. Peppertree Forest - 26; $108,788; 79 days
5. Old Hickory Hills - 25; $151,711; 81 days
6. Village of Long Hunter - 24; $129,684; 57 days
Other neighborhoods with between 15-23 sales in 2008 were: Barnes Cove, Cambridge Forest, Cherry Hills, Hamilton Chase, Harvest Grove, Hickory Woods, Lake Walk, Maxwell Place, Oak Highlands, October Woods, Towne Village, Preserve at Old Hickory, Towne Village and Piccadilly.
The most expensive neighborhood on average in Antioch was Barnes Bend averaging $309,085. Barnes Cove averaged $256,267, Berkeley Hall averaged $249,600, Apple Valley averaged $242,110 and Blue Hole Pointe at $241,000.
Brentwood TN (Davidson) real estate sales
Brentwood residential real estate sales totaled 152 in 2008 at an average price of $338,897 with 76 days on the market on average. This total number sold is down from 202 in 2007. Top selling Brentwood TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Concord Place - 17; $221,692; 33 days
2. Hearthstone - 11; $305,778; 86 days
3. Banbury Crossing - 10; $328,500; 36 days
4. Autumn Oaks - 10; $240,436; 64 days
5. Copperfield - 10: $275,590; 81 days
6. Sterling Oaks - 9; $279,222; 90 days
Hermitage TN real estate sales
Hermitage residential real estate sales totaled 430 in 2008 at an average price of $182,586 with 73 days on the market on average. This total number sold is down from 563 in 2007. Top selling Hermitage TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Hermitage Hills - 46; $128,393; 66 days
2. Bridgewater - 41; $270,951; 25 days
3. Truxton Park - 17; $161,350; 53 days
4. Jackson Retreat - 14; $136,892; 64 days
Other neighborhoods with a reasonable number of sales were: Hampton Hall, Highlands of Tulip Grove, Hermitage Estates, Hermitage Meadows, Chesney Glen and Tulip Grove.
Cane Ridge TN real estate sales
Cane Ridge residential real estate sales totaled 183 in 2008 at an average price of $207,776 with 67 days on the market on average. The total number sold is up from 167 in 2007. Top selling Cane Ridge TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Sunset Hills - 40; $200,353; 51 days
2. Rivendell Woods - 34; $167,183; 70 days
3. Deer Valley - 16; $248,877; 55 days
4. Oak Highlands - 15; $205,898; 93 days
5. Hidden Creek - 15; $188,682; 57 days
Goodlettsville TN real estate sales
Goodlettsville residential real estate sales totaled 137 in 2008 at an average price of $158,071 with 75 days on the market on average. The total number sold is down from 167 in 2007. Top selling Goodlettsville TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Ivy Hill - 17; $179,089; 92 days
2. Gatewood - 15; $122,663; 64 days
3. Windsor Green - 14; $137,932; 57 days
Old Hickory TN real estate sales
Old Hickory residential real estate sales totaled 188 in 2008 at an average price of $164,022 with 73 days on the market on average. The total number sold is considerably down from 439 in 2007. Top selling Old Hickory TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Villages of Old Hickory - 30; $135,981; 66 days
2. Hampton Park - 18; $160,350; 71 days
3. Waterford - 18; $142,177; 65 days
4. Sherwood Forest - 11; $131,791; 49 days
Madison TN real estate sales
Madison residential real estate sales totaled 355 in 2008 at an average price of $118,109 with 85 days on the market on average. The total number sold is down from 493 in 2007. Top selling Madison TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:
1. Cumberland Station - 24; $152,626; 94 days
2. Rainbow Terrace - 11; $79,952; 64 days
3. Heron Walk - 10; $71,330; 72 days
4. Forest Park - 10; $71,330; 72 days
Ashland City only had 4 sales in 2008 and averaged $89,500 sales price. Joelton had 41 sales in 2008 averaging $174,429. Mount Juliet (Davidson) had 11 sales averaging $283,528. Pegram had 5 sales averaging $196,200. Whites Creek had 34 sales averaging $176,775. Nolensville (Davidson) had 58 sales averaging $267,773 which were mostly in Burkitt Place neighborhood (with a handful in Carothers Crossing). Most of the 2007 numbers were similar in these cities, except Nolensville and Mount Juliet which were down by almost 1/2 in 2008 compared to 2007.
I can help you if you are relocating from out of state, if you are relocating to Nashville, Franklin, or Brentwood for your new job in Middle TN. I specialize in Williamson County and Davidson County areas. http://www.idxre.com/idx/co/searchProfile.cfm?ll=1&cid=37326
New in town meetup group http://newintown.meetup.com/890/
http://kwgreenhills.yourkwoffice.com/
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
find me on TWITTER at: www.Twitter.com/realtorjosh
How to find YOUR HOME in Nashville, TN
Are you currently living in Nashville TN? Are you considering a move to Nashville, Tennessee or the Middle TN area?
I can help you if you are relocating from out of state, if you are relocating to Nashville, Franklin, or Brentwood for your new job in Middle TN. I specialize in Williamson County and Davidson County areas. http://www.idxre.com/idx/co/searchProfile.cfm?ll=1&cid=37326
New in town meetup group http://newintown.meetup.com/890/
http://kwgreenhills.yourkwoffice.com/
www.NashvilleChamber.com
if you have concerns about school systems, crime, safety or need any other information about the Nashville Real Estate market, please do not hesitate to call or email me.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
find me on TWITTER at: www.Twitter.com/realtorjosh
I can help you if you are relocating from out of state, if you are relocating to Nashville, Franklin, or Brentwood for your new job in Middle TN. I specialize in Williamson County and Davidson County areas. http://www.idxre.com/idx/co/searchProfile.cfm?ll=1&cid=37326
New in town meetup group http://newintown.meetup.com/890/
http://kwgreenhills.yourkwoffice.com/
www.NashvilleChamber.com
if you have concerns about school systems, crime, safety or need any other information about the Nashville Real Estate market, please do not hesitate to call or email me.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
find me on TWITTER at: www.Twitter.com/realtorjosh
10 EASY ways to boost proeprty value
10 Easy ways to boost property value
Here is an article from Lowe's Inside Out monthly newsletter. Happy March!
"In like a lion, out like a lamb"-that's the saying, right? How about, "in with spring cleaning/gardening, out with winter mess?" From landscaping to simple planting, take inventory of your outdoor needs and take on a project or two... you might just enjoy it!
To assist you with some of these needs, stop by your local Lowe's or visit www.lowes.com to find essential tools to help you weather the holiday season.
10 Easy Ways to Boost Property Value
Homeowners play an important part not only in how their home is perceived by prospective buyers, but also its actual appraised value. To help sellers better maximize their profit potential, Robert Jenson, CEO of The Jenson Group at RE/MAX CENTRAL, offers 10 tips for readily increasing a home’s worth:
1. Paint the exterior - A fresh coat of paint can give even a relatively new home a much needed facelift, and can often be done for as low as a few thousand dollars. Select a neutral tone that is consistent with other residences in the neighborhood. Also be sure to pay close attention to eaves, gutters and drains that may also need painting.
2. Complete all needed repairs - To maximize a home’s worth, it should be in good condition both inside and out. Don’t wait until there is an offer on the home. Hire an inspector now, and fix any and all problems, such as roof deficiencies, leaky plumbing and electrical concerns.
3. Purchase a home warranty - Establish peace of mind that comes with knowing a home and its contents are adequately covered in the event of a loss. A transferrable home warranty protection plan can provide added security to the home owner - and buyer - in this regard.
4. Furnish the home to sell - Appeal to the buyer’s emotion. Furnishing a home can go a long ways to getting your home sold, actually increasing the odds of it selling. Give buyers the option to procure the property with or without furnishings, and have a pre-established sale price set for either scenario.
5. Upgrade front yard landscaping - Curb appeal plays a big role more so than people realize. Potential buyers driving the neighborhood may never call on the For Sale sign, if your home doesn’t look appealing from the outside. As well, buyers waiting for their Realtor to show up will often spend a good amount of time critiquing the landscaping while waiting. In addition to purposeful foliage, add landscape lighting and a weather and soil moisture-based landscape irrigation scheduling device to boost value even more.
6. Create a quick kitchen makeover - Kitchens are one of the number one room in the home where you’ll get the most bang for your remodeling buck. Countertops and appliances are the quickest fix, as are faucets, fixtures, door knobs and other easily changed items that can have a large impact on the space.
7. Think spa, not bathroom - The master bath is an important factor in a home’s worth. Think spa, or private sanctuary, where the master bath is concerned. A space meant to be relaxing, rejuvenating and more. Give buyers something to be excited about with upgraded faucets, fixtures, lighting, cabinetry, mirrors and the like. Then dress it up with plants, candles and other inexpensive, high impact décor.
8. Install soft and hard window treatments - There’s nothing more boring than a plain window. Take advantage of this easy opportunity to give the home’s interior design more impact, while also increasing the home’s actual worth. In addition to “hard” treatments such as blinds and shutters that offer privacy, also add soft treatments hung from decorative fixtures, which can alter the appeal of a room entirely. Look to a professional to ensure the best outcome.
9. Replace carpet rather than just cleaning - Rather than simply steam cleaning old, used carpet, replace it with fresh, neutral-toned carpet with an upgraded pad for an extra luxurious feel. Spending the extra money on new carpet will really make your home stand out from the crowd, in sight, feel and even smell.
10. Don’t overlook your closets - The better organized a closet, the larger it appears and the better it reflects on a home overall. Now is the time to box up those unwanted clothes and shoes and donate them to charity. Then, invest in a closet organization system - either by a professional or self-installed - which will positively impact the appraisal.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Find me on Twitter at http://twitter.com/realtorjosh
Here is an article from Lowe's Inside Out monthly newsletter. Happy March!
"In like a lion, out like a lamb"-that's the saying, right? How about, "in with spring cleaning/gardening, out with winter mess?" From landscaping to simple planting, take inventory of your outdoor needs and take on a project or two... you might just enjoy it!
To assist you with some of these needs, stop by your local Lowe's or visit www.lowes.com to find essential tools to help you weather the holiday season.
10 Easy Ways to Boost Property Value
Homeowners play an important part not only in how their home is perceived by prospective buyers, but also its actual appraised value. To help sellers better maximize their profit potential, Robert Jenson, CEO of The Jenson Group at RE/MAX CENTRAL, offers 10 tips for readily increasing a home’s worth:
1. Paint the exterior - A fresh coat of paint can give even a relatively new home a much needed facelift, and can often be done for as low as a few thousand dollars. Select a neutral tone that is consistent with other residences in the neighborhood. Also be sure to pay close attention to eaves, gutters and drains that may also need painting.
2. Complete all needed repairs - To maximize a home’s worth, it should be in good condition both inside and out. Don’t wait until there is an offer on the home. Hire an inspector now, and fix any and all problems, such as roof deficiencies, leaky plumbing and electrical concerns.
3. Purchase a home warranty - Establish peace of mind that comes with knowing a home and its contents are adequately covered in the event of a loss. A transferrable home warranty protection plan can provide added security to the home owner - and buyer - in this regard.
4. Furnish the home to sell - Appeal to the buyer’s emotion. Furnishing a home can go a long ways to getting your home sold, actually increasing the odds of it selling. Give buyers the option to procure the property with or without furnishings, and have a pre-established sale price set for either scenario.
5. Upgrade front yard landscaping - Curb appeal plays a big role more so than people realize. Potential buyers driving the neighborhood may never call on the For Sale sign, if your home doesn’t look appealing from the outside. As well, buyers waiting for their Realtor to show up will often spend a good amount of time critiquing the landscaping while waiting. In addition to purposeful foliage, add landscape lighting and a weather and soil moisture-based landscape irrigation scheduling device to boost value even more.
6. Create a quick kitchen makeover - Kitchens are one of the number one room in the home where you’ll get the most bang for your remodeling buck. Countertops and appliances are the quickest fix, as are faucets, fixtures, door knobs and other easily changed items that can have a large impact on the space.
7. Think spa, not bathroom - The master bath is an important factor in a home’s worth. Think spa, or private sanctuary, where the master bath is concerned. A space meant to be relaxing, rejuvenating and more. Give buyers something to be excited about with upgraded faucets, fixtures, lighting, cabinetry, mirrors and the like. Then dress it up with plants, candles and other inexpensive, high impact décor.
8. Install soft and hard window treatments - There’s nothing more boring than a plain window. Take advantage of this easy opportunity to give the home’s interior design more impact, while also increasing the home’s actual worth. In addition to “hard” treatments such as blinds and shutters that offer privacy, also add soft treatments hung from decorative fixtures, which can alter the appeal of a room entirely. Look to a professional to ensure the best outcome.
9. Replace carpet rather than just cleaning - Rather than simply steam cleaning old, used carpet, replace it with fresh, neutral-toned carpet with an upgraded pad for an extra luxurious feel. Spending the extra money on new carpet will really make your home stand out from the crowd, in sight, feel and even smell.
10. Don’t overlook your closets - The better organized a closet, the larger it appears and the better it reflects on a home overall. Now is the time to box up those unwanted clothes and shoes and donate them to charity. Then, invest in a closet organization system - either by a professional or self-installed - which will positively impact the appraisal.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Find me on Twitter at http://twitter.com/realtorjosh
NOW is the BEST time to buy real estate!
Now is the best time to buy real estate
Why is now the best time to buy?
Answer: Prices are down (lowest in years), interest rates are down (again lowest in years), and first-time home buyers receive a tax credit if they purchase a home this year. It's a no-brainer.
Call me for any of your Nashville Real Estate needs or if you would like me to send listings that fit your search criteria.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
http://www.joshandersonrealestate.com/
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Why is now the best time to buy?
Answer: Prices are down (lowest in years), interest rates are down (again lowest in years), and first-time home buyers receive a tax credit if they purchase a home this year. It's a no-brainer.
Call me for any of your Nashville Real Estate needs or if you would like me to send listings that fit your search criteria.
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
http://www.joshandersonrealestate.com/
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
$8000 Tax credit simplified!
$8000 Tax Credit (1st Time Home Buyers) SIMPLIFIED
There is a lot of confusion about the new $8,000 tax credit for first time home buyers. Hopefully this will provide clarification.
Initially, there was a $7,500 tax credit (which had to be paid back over 15 years) for first time home buyers who purchased between April 9, 2008 and December 31, 2008.
With the new economic stimulus bill, there is a new tax credit for first time home buyers who purchase a home between January 1, 2009 and November 30, 2009. December 1 is too late.
This new credit, unlike the former, will only have to be repaid if you sell the home within 3 years, otherwise it is a true credit.
It is important to note that the credit is 10% of the purchase price, up to $8,000, so if you purchase a home over $80,000 you will receive the entire $8,000 and if you purchase a home under $80,000 you will receive less.
Eligible properties are any single family residence that will be used as a principle residence.
This is a refundable credit, meaning if you were supposed to receive a $500 refund on your taxes, you will now receive up to $8,500 as a refund!!! If you owe money on your taxes, you can use the credit to offset that responsibility.
Income limits are as follows: The full amount of credit will be available to individuals with adjusted gross income of no more than $75,000 and joint filers with adjusted gross income of no more than $150,000. A partial credit will be given to individuals making between $75,001 and $95,000 and joint filers making between $150,001 and $170,000.
You must be a first time home buyer, defined as anyone who has not owned a principle residence in the last 3 years.
If you purchase your home this year, and you've already filed your taxes, you can amend your tax return and claim the credit NOW!!!!
For more info, contact me at 615.509.7000 or email me at Josh@JoshAndersonRealEstate.com comment below or visit www.JoshAndersonRealEstate.com
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
There is a lot of confusion about the new $8,000 tax credit for first time home buyers. Hopefully this will provide clarification.
Initially, there was a $7,500 tax credit (which had to be paid back over 15 years) for first time home buyers who purchased between April 9, 2008 and December 31, 2008.
With the new economic stimulus bill, there is a new tax credit for first time home buyers who purchase a home between January 1, 2009 and November 30, 2009. December 1 is too late.
This new credit, unlike the former, will only have to be repaid if you sell the home within 3 years, otherwise it is a true credit.
It is important to note that the credit is 10% of the purchase price, up to $8,000, so if you purchase a home over $80,000 you will receive the entire $8,000 and if you purchase a home under $80,000 you will receive less.
Eligible properties are any single family residence that will be used as a principle residence.
This is a refundable credit, meaning if you were supposed to receive a $500 refund on your taxes, you will now receive up to $8,500 as a refund!!! If you owe money on your taxes, you can use the credit to offset that responsibility.
Income limits are as follows: The full amount of credit will be available to individuals with adjusted gross income of no more than $75,000 and joint filers with adjusted gross income of no more than $150,000. A partial credit will be given to individuals making between $75,001 and $95,000 and joint filers making between $150,001 and $170,000.
You must be a first time home buyer, defined as anyone who has not owned a principle residence in the last 3 years.
If you purchase your home this year, and you've already filed your taxes, you can amend your tax return and claim the credit NOW!!!!
For more info, contact me at 615.509.7000 or email me at Josh@JoshAndersonRealEstate.com comment below or visit www.JoshAndersonRealEstate.com
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Why is the media so negative about real estate? Real estate is LOCAL, not national!!
Why all the negativity? Look at Real Estate on a Local Level
Why are people so depressed and negative toward the real estate market? It is the best time to buy and it has not been this good of a buyers market in years.....WHY?! We have the highest housing inventory within the last 25 years, the government is offering $8,000 tax incentive, interest rates are at an all time low, and you can get 96.5% financing on your future home! Of course, the news media knows bad news equals great ratings!
Nashville, TN is one of those lucky cities that is very well insulated and has several industries that keep them afloat during tough economic times. We have the healthcare industry, autmotive, the cost of living index is wonderful compared to most cities, the median home price in Middle TN is great and we have NO state income tax!
Stop worrying and contact me for information on your local level!
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Why are people so depressed and negative toward the real estate market? It is the best time to buy and it has not been this good of a buyers market in years.....WHY?! We have the highest housing inventory within the last 25 years, the government is offering $8,000 tax incentive, interest rates are at an all time low, and you can get 96.5% financing on your future home! Of course, the news media knows bad news equals great ratings!
Nashville, TN is one of those lucky cities that is very well insulated and has several industries that keep them afloat during tough economic times. We have the healthcare industry, autmotive, the cost of living index is wonderful compared to most cities, the median home price in Middle TN is great and we have NO state income tax!
Stop worrying and contact me for information on your local level!
JOSHANDERSON RealEstateConsultant TheAndersonGroup
cell: 615.509.7000 office: 615.425.3952 fax: 615.690.9054
Keller Williams Realty, 30 Burton Hills Blvd. Ste. 175, Nashville, TN 37215
www.JoshAndersonRealEstate.com
Connect with me on LinkedIn! http://www.linkedin.com/in/nashvillesrealtor
Top 10 Reasons why you should be glad the economy sucks....
Courtesy of the Real Estate Guys Radio show, I would like to offer their top 10 Reasons to be glad the Economy Sucks for you: And I could not agree more.
1) Great Real Estate is on SALE!
Why is it that Americans love to buy things on sale EXCEPT for Real Estate? For people who were looking to buy real estate even a few years ago and faced multiple bids and lack of time to do their due diligence because offers were coming in above asking price, now could be the time. They now don't have to worry about the "dumb" money that came into the market which pushed prices up. Real Estate is cyclical and WILL end up being more valuable in the future than it is today. Maybe not next year.....but if you were to buy a house today, what would the chances of it being worth more in 10-12 years? I'd say pretty good.
2) Interest Rates are Great!
It doesn't mean that everyone can get a loan but if you look back throughout recent decades, it's hard to find times that were any better. And these are fixed rate loans too! Eventually interest rates will start to go up because of the stimulus packages and other factors. How much further do you think rates can go?
3) It's a great time to become a Private Investor/Lender
There are great opportunities to become a private lender because traditional lending has become more scarce. People who can't fit into the strict lending criteria can look to other lenders at STILL good 7%-8% rates. Investors would rather be in the first position too. Why would you want to keep your money in the stock market (Roth IRA's, 401K's, etc) when you could put your money to work in the loan business?
4) Now's a great time to get a contractor to call you back!
Unlike 2-3 years ago, when contractors were "too busy" to call you back, show up, and give you a bid, now there is not enough work for them so they become more anxious to hear from you.
5)Title Companies, Agents, Attorneys, Escrow Companies NEED you right now.
They are more than willing to assist you more than ever. They are all looking for things to do, and will be more productive than 2-3 years ago for you.
6) Affordability!
When the median income is more in line with the median house it makes housing more affordable to the masses. The benchmark is when 30% of your total income is allocated to housing expense. Overall, the housing opportunity index during the last 3 months of 2008 was "affordable" based on this standard. It is up to 60% versus 56.1% in the previous quarter and up from the 46.6% in the last quarter of 2007. If the affordability keeps climbing as prices continue to drop and interest rates continue to stay low, why then are people not buying....Fear and lack of confidence in the economy&in their jobs.. Once they realize that their need for housing overcomes their fear, then they will come back to the market.
7) New housing starts are at an ALL TIME low.
It basically means supply and demand. As there is less new inventory coming onto the market versus the existing inventory and more population coming down the pike, this creates a stabilization and then an upswing. It's basic math.
8) The repeal of the 4 property limit.
Starting March 1st, Freddie and Fannie are dropping the 4 loan limit on 1-4unit loans. This will allow investors to come in and purchase more properties. The National Association of Realtors figured out that prudent investors could help soak up the glutton of houses on the market ~ The people most likely to come back into the market and who would be willing to pick up some risk were locked out of the market because of this rule. This is now designed for people to use credit and RESPONSIBLY use that credit to get lending. They are trying to bring back responsible lending practices. This means a market correction. When a market tries to correct there is going to be some pain. If there was no pain in a correction then people would not change their behavior that caused the problem in the first place.
9) It's a great time to buy a car............or anything!Cash is King!
If you have the ability to buy, it's a great time to get your hands on things you may have wanted or needed. If you need to furnish your rentals or you're thinking about redecorating your house because you decided not to sell and just update it....Now is the time. People are willing to deal like never before.
10) You can get Loans modified now more than ever before.Just a few years ago, the thought of calling your lender and asking them to modify your loan was unheard of. Now, there are companies and a whole industry springing up that are based on this principle. There are incentives from the government TO people for assisting in this process. The more people they can get current on their mortgages and give them confidence, the quicker the housing turn-around will occur.
and one bonus reason...............11) There are more $5 lunches than ever!More places are competing for your attention to provide goods and services.
Thanks to Robert Helms, Russ Grey, and Bob Helms (The Real Estate Guys)
To get more information on Nashville Real Estate or homes in the Middle TN area, please visit my website at:
www.JoshAndersonRealEstate.com
1) Great Real Estate is on SALE!
Why is it that Americans love to buy things on sale EXCEPT for Real Estate? For people who were looking to buy real estate even a few years ago and faced multiple bids and lack of time to do their due diligence because offers were coming in above asking price, now could be the time. They now don't have to worry about the "dumb" money that came into the market which pushed prices up. Real Estate is cyclical and WILL end up being more valuable in the future than it is today. Maybe not next year.....but if you were to buy a house today, what would the chances of it being worth more in 10-12 years? I'd say pretty good.
2) Interest Rates are Great!
It doesn't mean that everyone can get a loan but if you look back throughout recent decades, it's hard to find times that were any better. And these are fixed rate loans too! Eventually interest rates will start to go up because of the stimulus packages and other factors. How much further do you think rates can go?
3) It's a great time to become a Private Investor/Lender
There are great opportunities to become a private lender because traditional lending has become more scarce. People who can't fit into the strict lending criteria can look to other lenders at STILL good 7%-8% rates. Investors would rather be in the first position too. Why would you want to keep your money in the stock market (Roth IRA's, 401K's, etc) when you could put your money to work in the loan business?
4) Now's a great time to get a contractor to call you back!
Unlike 2-3 years ago, when contractors were "too busy" to call you back, show up, and give you a bid, now there is not enough work for them so they become more anxious to hear from you.
5)Title Companies, Agents, Attorneys, Escrow Companies NEED you right now.
They are more than willing to assist you more than ever. They are all looking for things to do, and will be more productive than 2-3 years ago for you.
6) Affordability!
When the median income is more in line with the median house it makes housing more affordable to the masses. The benchmark is when 30% of your total income is allocated to housing expense. Overall, the housing opportunity index during the last 3 months of 2008 was "affordable" based on this standard. It is up to 60% versus 56.1% in the previous quarter and up from the 46.6% in the last quarter of 2007. If the affordability keeps climbing as prices continue to drop and interest rates continue to stay low, why then are people not buying....Fear and lack of confidence in the economy&in their jobs.. Once they realize that their need for housing overcomes their fear, then they will come back to the market.
7) New housing starts are at an ALL TIME low.
It basically means supply and demand. As there is less new inventory coming onto the market versus the existing inventory and more population coming down the pike, this creates a stabilization and then an upswing. It's basic math.
8) The repeal of the 4 property limit.
Starting March 1st, Freddie and Fannie are dropping the 4 loan limit on 1-4unit loans. This will allow investors to come in and purchase more properties. The National Association of Realtors figured out that prudent investors could help soak up the glutton of houses on the market ~ The people most likely to come back into the market and who would be willing to pick up some risk were locked out of the market because of this rule. This is now designed for people to use credit and RESPONSIBLY use that credit to get lending. They are trying to bring back responsible lending practices. This means a market correction. When a market tries to correct there is going to be some pain. If there was no pain in a correction then people would not change their behavior that caused the problem in the first place.
9) It's a great time to buy a car............or anything!Cash is King!
If you have the ability to buy, it's a great time to get your hands on things you may have wanted or needed. If you need to furnish your rentals or you're thinking about redecorating your house because you decided not to sell and just update it....Now is the time. People are willing to deal like never before.
10) You can get Loans modified now more than ever before.Just a few years ago, the thought of calling your lender and asking them to modify your loan was unheard of. Now, there are companies and a whole industry springing up that are based on this principle. There are incentives from the government TO people for assisting in this process. The more people they can get current on their mortgages and give them confidence, the quicker the housing turn-around will occur.
and one bonus reason...............11) There are more $5 lunches than ever!More places are competing for your attention to provide goods and services.
Thanks to Robert Helms, Russ Grey, and Bob Helms (The Real Estate Guys)
To get more information on Nashville Real Estate or homes in the Middle TN area, please visit my website at:
www.JoshAndersonRealEstate.com
Subscribe to:
Comments (Atom)
