Sunday, November 9, 2008
Tuesday, September 2, 2008
Buy a HUD home and your down payment will be $100.00.
With many homes for sale in the Middle Tennessee Area, HUD has developed a program for homes in
A HUD home is residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. After the foreclosure HUD then becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. HUD homes are typically in good condition and these types of homes can be found through-out the Middle Tennessee area.
Here are a few tips to use when purchasing a HUD home:
1. Be ready to act fast.
HUD homes typically sell within 10 days. When you have identified a home that you like, be prepared to make an offer on the home immediately.
2. Get pre-approved.
HUD requires that all offers are submitted with a pre-approval letter from the lender of your choice before submitting an offer.
3. Have your earnest money ready.
All HUD homes in
4. Never pay for a list of HUD or foreclosed homes.
I have seen television and print advertisements for the sale of lists for these types of homes. No matter how nominal the amount; never purchase a lists for these types of homes. HUD homes are regulated by the federal government and are public record. Contact a Realtor® that can help you locate a free list of these homes.
5. Get a home inspection.
Although HUD provides a property condition report, have a property inspector complete a thorough home inspection.
6. Ask for closing cost assistance.
HUD will typically pay up to 3% of closing cost for HUD homes.
7. Use a HUD certified real estate broker.
Not all real estate brokers have been certified to sell HUD homes. Make sure you use an agent that is familiar with the process. If you think you want to buy a HUD home, you need to contact a real estate sales professional in your area who is authorized to sell HUD homes.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Friday, August 15, 2008
Home of the Week
August 14-20,2008
This home has it all 3 bedrooms, 3 full baths and custom hardwood floors throughout the ENTIRE home. All appliances will remain with the home.
The Seller will pay the first 6 months of your mortgage and closing cost.
For more information on this home please call Denise J. Beard at 615-373-3456.
There will be an Open House on Sunday, August 24, from 2-4 p.m.
Thursday, July 31, 2008
Home of the Week
July 31-August 6, 2008
This home has it all; 3
Bedrooms, 2 ½ bathrooms,
2800 sq. ft., big open kitchen, 2
story foyer, vaulted ceilings,
tons of windows, wooded lot,
ALL appliances included, a
HUGE Recreational Room.
Won't last long at this price!!!
It’s also zoned for the Cane
Ridge School Cluster. Priced at
$219,500. If you would like to
see more pictures of this home,
please visit
www.denisejbeard.com.
Tennessee Tribune Article
On Saturday, July 26, 2008 the Senate passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
After the law kicks in on Oct. 1, thousands of at-risk borrowers will be able to refinance their unaffordable old mortgages into new low-cost fixed-rate loans insured by the Federal Housing Administration (FHA).
The Congressional Budget Office estimates that 400,000 borrowers with $68 billion in loans may benefit from the program - but the bill allows for as many as 1 million or 2 million borrowers to participate in the program.
Here's what homeowners need to know.
Who's eligible?
Qualified borrowers must live in their homes and have loans that were issued between January 2005 and June 2007. Additionally, they must be spending at least 31% of their gross monthly income on mortgage debt to be eligible for the program.
They can be up to date on their existing mortgage or in default, but either way borrowers must prove that they will not be able to keep paying their existing mortgage - and attest that they are not deliberately defaulting just to obtain lower payments.
Before homeowners can get FHA-backed mortgages, they must first retire any other debt on the home, such as a home equity loan or line of credit. Borrowers are not permitted to take out another home equity loan for at least five years, unless it's to pay for necessary upkeep on the home.
To get a new home equity loan, borrowers will need approval from the FHA, and total debt cannot exceed 95% of the home's appraised value at the time.
How can I apply?
Borrowers can contact their current mortgage servicer or go directly to an FHA-approved lender for help. These lenders can be found on the Web site of the Department of Housing and Urban Development.
How does the refinancing process work?
This is a voluntary program, so lenders holding the original mortgage have to agree to rework a given loan before things can get started. The bill requires lenders to make major concessions, writing down the value of the loan to 90% of the home's current value. In areas where prices have plummeted by as much as 20%, that will mean a substantial loss for the lender.
But lenders won't sign off on a workout unless they think that they'll lose less money on that than they would by allowing a home to go through the costly foreclosure process.
Each loan will have to be underwritten by an FHA lender on a case-by-case basis. That means the banks will do a new appraisal to determine the home's current value, as well as examine and verify income statements, bank accounts, job histories and credit scores.
Based on that new appraised home value, the FHA lender must determine how much the original lender has to reduce the original mortgage, so that it will reflect 90% of the home's market value.
If the original lender agrees to the writedown, the new lender buys the old loan and takes over the reworked mortgage.
As part of the deal, the old lender writes off any fees and penalties on the original mortgage, including prepayment penalties, and accepts the proceeds from the new loan on a paid-in-full basis. Additionally, it pays the FHA an up-front premium equal to 3% of the mortgage principal.
What does it cost?
There should be little up-front costs for borrowers to bear. Loan origination fees will vary by lender, but these can usually be paid by the borrower over the life of the loan in the form of a slightly higher interest rate.
However, the refinanced loans do come with many strings. For one thing, borrowers are responsible for paying an insurance premium to the FHA guaranteeing the loan, which will be 1.5% of the principal annually.
Borrowers also agree to share any profits from future home-price appreciation with the FHA. To do that, they'll pay a "3% exit fee" of the mortgage principal to the FHA when they resell or refinance.
Plus, they'll agree to pay the FHA 100% of any profits they realize from higher home prices if they sell or refinance within a year. So if the original loan principal is $200,000 and the home sells for $250,000, the borrower will owe the FHA $50,000, minus costs.
After a year, borrowers will share 90% of the profits with the FHA. The percentage keeps dropping in 10% increments to 50% after the fifth year, where it stays.
What will I save?
Savings depend on what borrowers are paying for their present loan and where they live, but for most people it will be substantial, even after factoring in the FHA fees.
In areas that have sustained huge price drops, such as
Additionally, the FHA loans carry reasonable interest rates, which are fixed for the life of the loan, as opposed to a subprime adjustable-rate mortgage that can jump higher every six months
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Thursday, July 24, 2008
Tennessee Tribune Article
According to the Greater Nashville Association of Realtors®, in June 2008, there were 24,935 homes for sell that is an increase of 9%, when compared to June 2007. With increased supply and lower demand, anyone who is financially able to purchase a home should take advantage of Nashville’s amazing buyers’ market.
Tougher lending requirements are one of many reasons why Nashville is experiencing a buyers market. Many buyers are taking advantage of FHA loans. A FHA loan is a federal assistant mortgage loan insured by the Federal Housing Administration. This type of loan can be obtained at just about any bank. According to Steve Johnson, Mortgage Loan Officer with Bank of America, “buyers can obtain a 30 year fixed FHA mortgage with at least a 560 credit score and an above average debt to income ratio.”
With loans limits as high as $432,500 in Davidson and surrounding counties , FHA loans can help anyone in just about any price point take advantage of the buyers’ market in Nashville. Buyers should always get pre-approved before looking for homes, this will help you develop your price range and help prevent you from being turned down for a home loan after falling in love with a home.
With interest rates at a historic low and increased inventory of existing, new, and foreclosed homes there are wide arrays of options for those looking to purchase a home in Davidson and surrounding counties. Savvy buyers will make a great investment by purchasing a home during this buyers market.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle Tennessee area. She can be reached at 615-373-3456 or at www.denisejbeard.com. If you have a real estate question or a topic that you would liked covered, please e-mail Denise at denise@denisejbeard.com.
Thursday, July 17, 2008
Home of the Week
This home is located off Music Row and within walking distance of The Gulch. This home features: 3 bedrooms, 1 bathroom, 1000 sq. ft. and 4-sides brick. Mature trees shade the quarter acre lot. It won't last long at the price of $214,500. If you would like to view more pictures of this home or for more information, please visit www.denisejbeard.com.
Tennessee Tribune Article
There's a useful mortgage product that is available to many homeowners, over the age of 62, who need to get some cash out of their primary residence to use for investing in other properties or any other financial needs they have. It is called a reverse mortgage.
A reverse mortgage is a special type of home loan that lets a homeowner convert a portion of the equity in his or her home into cash. The equity built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence.
Here are the most commonly asked questions and answers about reverse mortgages.
When is a reverse mortgage paid?
A reverse mortgage is a loan against your home that you are not required to pay back as long as you live there. The loan is repaid from the borrower's estate or the eventual sale of the home when the last surviving borrower no longer lives in the home. Money can be received in a lump sum, monthly payments, or through a line of credit.
How do you qualify for a reverse mortgage?
You must be 62 years or older to qualify and there are no income or credit requirements for a reverse mortgage. The amount you can borrow in a reverse mortgage is determined by your age, your home's value and interest rates. The older you are, the more you can borrow.
Will I lose my home?
The bank never takes over the deed unless there is a default. Defaults can occur if the taxes and insurance are not paid current or the homeowner doesn't live in the home for a one-year period.
How you can benefit from a reverse mortgage?
Reverse mortgages can be used to eliminate larger payments, free-up cash in order to invest, travel, pay for college educations, and many other expenses.
Can I qualify for a HUD reverse mortgage?
To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan; and must live in the home. You are also required to receive consumer information from HUD-approved counseling sources prior to obtaining the loan.
What types of homes are eligible?
Your home must be a single family dwelling or a two-to-four unit property that you own and occupy. Townhouses, detached homes, units in condominiums and some manufactured homes are eligible. Condominiums must be FHA-approved.
Can the lender take my home away if I outlive the loan?
No! You do not need to repay the loan as long as you or one of the borrowers continues to live in the house and keeps the taxes and insurance current. You can never owe more than your home's value.
How much money can I get from my home?
The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.
A reverse mortgage may be the answer for you, but first make sure you meet with an expert who handles these types of loans. Be sure that the expert fully understands your specific needs and can identify if this is the best approach for you.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Monday, July 14, 2008
I can't wait to see this movie
I can't wait for this movie that comes out September 21.
Thursday, July 10, 2008
Home of The Week
Beautiful all brick home with 4bedrooms and 2.5 bath rooms.
This home features a large
great room, formal dining,
large kitchen with breakfast
area and a 2-car garage. It also
has a HUGE master suite with
a tray ceiling, double vanities
& separate shower tub. All the
appliances come with this
home including washer & dryer.
For more information on this
home please call Denise at
615-491-0503.
There will be an open house
on Sunday, July 13, 2008
from 2-4 p.m.
Tennessee Tribune Article
As summer turns some people’s thoughts to second homes, encouraging statistics about this market have been muffled under some of the negative news about the current housing market. According to National Association of Realtors 2007 Investment and Vacation Home Buyers Survey, second-home sales accounted for one-third of all existing and new-home sales in 2007. A large portion of those purchases were vacation homes. Why do families buy these “home away from homes?” The survey found that several factors go into the decision to buy a second home. Eighty-four percent of buyers wanted to use the home as a family retreat; 30 percent plan to use the home as a future primary residence; 26 percent want to diversify investments and 25 percent plan to rent to others.
When deciding to purchase an investment property it is best to contact a mortgage banker first, that why you know exactly how much your monthly investment will be. After contacting a mortgage banker and being pre-approved for a second home, locate a Realtor®, who can help you locate prospective investment properties and who will help you define the rental rates for the area that you are looking. You want to make sure that you will be able to obtain the right amount of cash flow for the property you will purchase.
If you are purchasing a second home out for state for a vacation residence or investment, make you sure you call an agent you know and trust in Nashville first, your agent should be able to help you locate a real estate professional in any part of the world to help facilitate the transaction while you are out of the state.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Thursday, July 3, 2008
Home of the Week
HOME OF THE WEEK
1489
Clairmont PlaceNashville, TN 37215
No expense has been spared
and no detail has been
overlooked... this remodeled
home is nestled on one of the
quaintest streets in Green
Hills. With 4 bedrooms and 3
baths this 2900 square foot
home combines character with
function. It won’t last long at
the price of $549,900. For
more information on this home
please call Denise at
615-491-0503.
If you would like for your home to be featured as the home of the week, please call Denise at 615-373-3456. This home is being marketed
by Crye-Leike, Realtors.
Tennessee Triubune Article
Each year thousands of Nashvillians embark on a journey to become a homeowner.
By avoiding these five common mistakes, you will be sure to make an excellent real estate investment.
1) – Not Being Pre-Qualified For Financing Before Looking
When beginning to look for a home, it is important that you know how much you can comfortably spend on a home. Getting pre-qualified for financing will help you develop your price range and help prevent you from being turned down after falling in love with a home. It will also save you the strain of having to find a lender within a few days of conditionally buying a home. In times of fluctuating interest rates it would benefit you to lock in a lower rate. This could save you thousands of dollars if the rate increases while you are in the process of buying a home.
2) - Failing To Seek Out The Services Of An Experienced Realtorâ
Many home buyers are unaware of the fact that in almost every case they are not responsible for paying the agent’s fees; the agent is being paid a commission from the seller. It is always best to seek out an experienced real estate agent that can use their information regarding recently listed and sold properties to get you the lowest price possible. Buying a home without a Realtor is like court without a lawyer. It is imperative that you have someone working in your best interest.
3) - Failing to Research the Market before Making Your Offer
Have your agent prepare all the area sales and comparables in your area and get a copy to look over before you make your offer. This will help ensure that you do not overpay what the home is really worth. In most cases, this is the same type of information that the seller saw when setting the price of their home.
4) – Not Understanding the Common Negotiating Methods Used At Offer Time
Some buyers have been told that the best way to get a good price is to low-ball the seller from the start in hopes that the seller will drop their price down fast in their counter offer. In reality this often does nothing more than upset the seller and will probably end up ruining the chance at an acceptable offer to both of the parties involved. Have good communication with your agent, and they will be able to inform you on the many proper ways to negotiate a deal and still get you the lowest price.
5) - Failing To Complete a Home Inspection
Buying a home often times is the most important investment and financial transaction that you will ever make. A home inspection can save you hundreds or even thousands of dollars. In addition to the inspection, it is often a good idea to request some type of Home Warranty to cover the electrical appliances that come with the home.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Thursday, June 26, 2008
Home of the Week
This townhome is located in South Nashville near
My article for the Tennessee Tribune June 26 -July 3, 2008
A lease purchase contract or lease option contracts is a form of real estate purchase which combines elements of a traditional rental agreement with an exclusive purchase option of a home at a future pre-determined date. These types of contracts are commonly used when a buyer wants to purchase a home, but due to credit issues would not qualify for a conventional, FHA or VA mortgage financing. Since obtaining financing for a home is becoming increasingly difficult with lending changes, a lease purchase option is a great way to take advantage of the above average home inventory in Middle Tennessee.
Usually, the buyer chooses the home and seeks a seller to serve as an investor. The buyer then agrees to a lease period which typically ranges from 12 to 24 months. During this time the buyer has the exclusive right to purchase the home at a previously agreed-upon price. The buyer pays to the seller a non-refundable option deposit that is applied to the purchase price of the home. The buyer then pays to the seller a sum that is typical to the rental amount, of which a portion of that monthly payment may or may not be applied to the purchase price of the home, but covers the mortgage amount owed by the seller.
Should the buyer have a change of heart and decide not to or is unable to purchase the house, the buyer and seller can agree to extend the option period, convert the lease purchase contract into a traditional rental agreement, or end the contract with the would be buyer moving out and seller seeking other buyers.
If you think a lease purchase option is for you, make sure you a hire a Realtor® to market your home as a lease purchase. Untraditional marketing methods are used to find a buyer interested in participating in a lease purchase. Participants in a lease purchase should also hire a real estate lawyer to draw the documents and explain each parties rights, including those of possession and default consequences
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Wednesday, June 25, 2008
My favorite moments from the BET Music Awards 2008
Anyone who knows me knows I LOVE good R&B and neo-soul. One of my favorite male singers, Maxwell, sang a song of one of my favorite musicians, Al Green.
Also, I absolutely love Alicia Keys and En Vougue.
Tuesday, June 24, 2008
Our New Sign
On May 1, 2008, we moved into our hip new urban office in the Midtown area of Nashville. Today, we got our brand new sign installed. Our sign is HUGE. While driving by you wont be able to pass by our new office without noticing that Crye-Leike, Realtors is here and is ready to "Paint the Town Red".
We will be having our grand opening very soon. I will keep you posted on when it will be, I can't wait to show off our new office. GET EXCITED!!!!
Thursday, June 19, 2008
Home of the Week
This home is located off Music Row and within walking distance of The Gulch. This home features: 3 bedrooms, 1 bathroom, 1000 sq. ft. and 4-sides brick. Mature trees shade the quarter acre lot. It won't last long at the price of $214,500. If you would like to view more pictures of this home or for more information, please visit www.denisejbeard.com.
My article for the Tennessee Tribune June 19 -25, 2008
On any given Sunday in
- Look for open houses in your area.
Open houses are usually advertised in the Sunday paper and on the internet. Crye-leike.com, realtor.com and realtracs.com are great resources to use to locate open houses in the Middle Tennessee area.
- Have a game plan.
Make a list of the homes you would like to visit and know the route you will be using to maximize the time you will have during peak open house times. Open houses in Davidson and surrounding counties usually occur on Sunday’s between 2-5 p.m.
- Don’t be embarrassed to ask questions.
The real estate agent working during the open house is there to answer any questions you may have about the property. Use them at your disposal; don’t be afraid to ask any question even if you think it’s a silly question.
- Have a pre-approval letter with you.
I cannot stress the importance of being pre-approved for a home loan prior to searching for a home. Having a pre-approval letter will help you search for homes in your price range and you know what your monthly payment will be prior to writing an offer on a home.
- Have your real estate agent on speed dial.
If you are working with a real estate agent let them know what homes you will be visiting and ask if they will be willing to meet you at that home to write an offer if you find one you love during an open house.
- Done be afraid to make and offer.
If you fall in love with a home you visit during an open house, be prepared to write an offer on the home. A lot of effort is put into preparing a home for an open house. A seller will be more inclined to accept an offer less than the asking price if received the day of the open house.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Wednesday, June 18, 2008
The song stuck in my head
This song has been stuck in my head since Monday. I wish I would sing like her. :-)
Thursday, June 12, 2008
Home of the Week
This home is off of
Tennessee Tribune June 11-18, 2008
This year commemorates the 40th Anniversary of the historic 1968 Fair Housing Act. On April 11, 1968 President Lyndon Johnson urged congress to approve the Fair Housing Act just one week following the assassination of Dr. Martin Luther King, Jr. as a tribute to Dr. King's legacy and commitment to civil rights. One of the Act's central objectives was to prevent discrimination based on race in the sales or rental of housing. This historic Act has since empowered people from all races and ethnicities to pursue the dream of equal access to housing.
In 2002 President George W. Bush enhanced our nation's commitment to equal housing opportunities for all by designating June as National Homeownership Month, with the goal of increasing minority homeownership in
Today, Realtors work hard to provide fair access to affordable housing and homeownership year-round. By commemorating Fair Housing Month in April and National Homeownership Month in June, Realtors take extra time out to focus on the education of members, as well as consumers. By spending time on areas like homeownership counseling, new FHA and conforming loan limit programs, avoiding predatory lending pitfalls, workforce housing initiatives, diversity and smart growth initiatives, Realtors and consumers alike gain knowledge and become closer to achieving the ultimate goal of equal housing access for all.
Thursday, June 5, 2008
Home of the Week
This home has it all; 3 Bedrooms, 2 ½ bathrooms, 2800 sq. ft., big open kitchen, 2 story foyer, vaulted ceilings, tons of windows, wooded lot, ALL appliances included, a HUGE Recreational Room, and $7,000 towards closing cost. Won't last long at this price!!! It’s also zoned for the Cane Ridge School Cluster. Priced at $229,500. If you would like to see more pictures of this home, please visit www.denisejbeard.com.My article for the Tennessee Tribune June 5 -11, 2008
As a real estate broker, I am often asked, “Where can I find a good deal?” Since it is a buyers market, “good deals” can be found all over
If you think you can purchase a home for pennies on the dollar in
Since there is a shortage of qualified buyers in the market, sellers and their agents’ are coming up with creative ways to lure prospective buyers to their homes. Sellers are willing to pay all of the buyers closing cost and leave behind major appliances. Although it is very uncommon, I have seen some instances where a seller will include cars, gas cards, plasma televisions and vacations with the purchase of their home.
The
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle
Friday, May 30, 2008
May 2008
1. I love my brand new office, its in the center of town and its closer to my home. Who doesn't love a 15 minute commute to work. The move to my new office also allows me to better serve my clients that live in Davidson and Sumner County. I also love being able to walk to lunch, there are so many restaurants in the Midtown. I hope to be able to eat at each of them sometime this summer.
2. On May 5, 2008, I mustered together the courage to meet with the publisher of the Tennessee Tribune. A few weeks prior, I decided I wanted to put my journalism degree to good and write a weekly real estate article for a local publication. Later in that week I called the Tennessee Tribune to set up a meeting and on May 5, 2008, the publisher gave me her blessing so I could give my real estate knowledge to the masses. This just goes to show that you can do anything you put your mind too.
3. On May 21, 2008, my mother had a teeny tiny surgery on her foot. My brothers, father and I banded together to provide her with great care since she was not going to be able to walk for 2 weeks. Hopefully next week she will be walking again, I love you Mother I hope you get well soon!!!!
Thursday, May 29, 2008
Selling your home can be a challenging task
Selling your home can be a challenging task. With more homes on the market than ever before, prospective buyers have tons of homes to choose from. When you decided to place your home on the market, it is imperative that your home is in tip-top shape. By following these ten steps, you will have your home sold in no time.
1. Put yourself in the buyer’s shoes
Remind yourself of why your fell in love with the home when you first purchased it. When you have decided what those features are, decide how to best enhance them so that prospective buyers will fall in love with those features too.
2. De-Clutter
People tend to accumulate a massive amount of stuff some of which buyers will think is junk. It is important to de-clutter so prospective buyers can see your home as opposed to all of your “stuff”. This also means removing some pieces of furniture so that the room appears larger.
3. Clean up the outside
First impressions are very important; the first thing a buyer will see is the outside of your home. Make sure the home looks charming and inviting. If the home does not have what real estate professionals call good “curb appeal”, buyers may not even bother looking on the inside.
4. Touch up the interior
Fresh coats of paint and repairing minor infractions make a big difference. Anything that needs to be repaired gives potential buyers a reason to give a lower offer.
5. Neutralize and De-Personalize
Neutral paint and décor creates a home for any lifestyle. It helps buyers see themselves in that space. Some buyers can't see past personal artifacts, and you don't want them to be distracted. You want buyers to imagine their own photos on the walls, and they may not be able to do that if yours are there.
6. Cleanliness
Your home must be clean before selling – that includes walls, carpets, doors, counters and bathrooms. It gives the impression that it has been well cared for, which buyers love.
7. Air it out
If you have pets, get rid of as much hair and dander and pet odor as possible. If you are a smoker, rent an ozone machine, it helps get rid of the odor.
8. Establish a marketing plan
Choose a Realtor® that is familiar with your neighborhood and that has a proven marketing plan. With the hard work you have done to get your home ready for prospective buyers, you should have a good Realtor that will showcase the features and benefits of your home.
9. Set a realistic price right from the beginning
Since your home will generate the most attention and showings in the first few weeks it is on the market, it is of the utmost importance that your home is competitively priced in the market. If your price is too high relative to the competition, then buyers will not even look at an otherwise attractive property - particularly during the critical stage of initial market exposure.
10. Have an Exit Strategy
Know where you are going to move once your home is sold. If you have to sell your home before purchasing a new one, identify neighborhoods that you will want to live in once your home is sold.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in
Thursday, May 22, 2008
Why now is the time to buy a home?
According to the Greater Nashville Association of Realtors®, in April 2008, there were 24,670 homes for sell that is an increase of 19%, when compared to April 2007. With increased supply and lower demand, anyone who is financially able to purchase a home should take advantage of Nashville’s amazing buyers’ market.
Tougher lending requirements are one of many reasons why Nashville is experiencing a buyers market. Many buyers are taking advantage of FHA loans. A FHA loan is a federal assistant mortgage loan insured by the Federal Housing Administration. This type of loan can be obtained at just about any bank. According to Steve Johnson, Mortgage Loan Officer with Bank of America, “buyers can obtain a 30 year fixed FHA mortgage with at least a 560 credit score and an above average debt to income ratio.”
With loans limits as high as $432,500 in Davidson and surrounding counties , FHA loans can help anyone in just about any price point take advantage of the buyers’ market in Nashville. Buyers should always get pre-approved before looking for homes, this will help you develop your price range and help prevent you from being turned down for a home loan after falling in love with a home.
With interest rates at a historic low and increased inventory of existing, new, and foreclosed homes there are wide arrays of options for those looking to purchase a home in Davidson and surrounding counties. Savvy buyers will make a great investment by purchasing a home during this buyers market.
Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Davidson, Williamson and Sumner County. She can be reached at 615-373-3456 or at www.denisejbeard.com.
Tuesday, May 6, 2008
The day after cinco de Mayo
I am embarrassed that this is only my second post of the year. I am going to do a much better job of keeping folks informed on my blog.
Saturday, January 12, 2008
It's 2008!!!!
2007 was filled field with lots of fun and excitement. One of my best friends had a baby girl, several of my cousins got married and I got my Real Estate Brokers license.
2007 was filled with tons of fun and exciting adventures. It is my prayer that 2008 will bring peace and many blessing to ALL of my loved ones.
