Nashville New Homes: 2011 – The Year of the New Home.

For the past several years, those bearing bad news have held a firm grip on the microphone.   After all, they had a lot of negative things to report, so lets not blame them.   Bad news does sell.  And people do buy it…that is, until they have heard enough!

Since the first of January, I have been asking prospective home buyers a question…. “If you had purchased 60 days ago, you could have saved a little bit more money.  Interest rates have edged up slightly, even though they are still at record lows.  Just what has made you come out to explore now?”  (Please keep in mind that these prospective buyers are among the NINETY PERCENT of people that still have jobs in this country.)

 The responses are very much the same across the board.  “I’m hearing more positive news, I feel good about my job, and I know my rent will probably go up next year.”   OR …  “We’re getting closer to retirement and probably won’t have another chance to buy with interest rates this low.”

Folks, the “bearers of good news” are now getting their time at the microphone!   And the message is getting across.  It is certain, and sad, that many Americans are still without work.  The NINETY PERCENT that still work will be the ones that turn this economy around, and help put those unfortunate ones back to work.  If we truly want that to happen, we’ve got to communicate positive news whenever possible.

Let’s take a look at the good news that is now circulating…..

http://www.inman.com/news/2011/01/27/real-estate-sales-rebound-in-2011-prices-nearly-flat

We all know that the price of things are a simple result of “supply and demand.”  We all know that there is a finite supply of land… there’s just not any more of it being made.  Here’s another opinion of why now is the time to buy:

http://realestate.msn.com/article.aspx?cp-documentid=23505825

I can tell you that our sales have picked up dramatically and our inventory of completed homes is being snatched up quickly in many areas.  WE ARE BUILDING MORE!  Please visit www.OleSouth.com for information on all of our new home neighborhoods in Middle Tennessee.

No two pieces of property are the same, and no two areas are alike.   You have got to weigh the “risk vs. reward” and at the same time keep in mind that you are buying a home first, and investment second.  And the most important part…. you will one day own it, something you cannot say for your apartment. 

Things are looking better for the housing industry, but at the same time we also have to be realistic, as you can read here:

  http://www.calculatedriskblog.com/2011/01/new-home-sales-increase-in-december.html

From a person that specializes in selling new homes, there is a good chance you will always hear … “now is the time to buy.”   We are not trying to be intentionally misleading.  In most cases, compared to renting, “anytime is a good time to buy, but some times are better than others.”  Feel free to quote me on that!

How things are really does depend how you choose to look at things.  I prefer optimism over pessimism anyday.

One thing I can say factually, there is a small village in southern Honduras, near Choluteca, that will soon be looking at their homes in a totally different light….actual light…. at night!  They will also have access to filtered drinking water for their homes, and a more healthy cooking stoves thanks to District 6760 of Rotary International.

Read more about our upcoming trip here:

https://nashvillehomesblog.com/2011/01/19/nashville-new-homes-assafartay-is-going-to-honduras/

There will more than likely not be any blog posts until I return, but you can count on quite a few recaps then!  Many people warn about posting travel information online, and for very valid reasons.  I have a few valid reasons not to worry about that:  A great home security system, a wife that is proficient with guns, and good insurance.  Bring it on!

Happy Buying & Selling in 2011.  It really can be the “Year of the New Home.”  YOURS!

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, 615.896.0019  direct 615.593.6340.  Specializing in new home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

Nashville New Homes: And what else does the groundhog see?

Every year on the 2nd of February, certain people brave the frigid weather to gather in their traditional spot for the “made-for-tv” event, Ground Hog Day.   That traditional spot is Punxsutawney, PA and the celebration is all about the groundhog, Phil, seeing his shadow…. or not.

There are mysteries surronding this momentous event.  Why Punxsutawney, PA?   I cannot imagine the sun having many chances to shine there any during the winter.  Why not Jacksonville, Myrtle Beach, or even better..Roatan , Honduras?  Why do people give Phil’s annual appearance any credibility at all.  He has only been right 39% of the time, much like our local weatherfolks!

Here is the history of this day in folklore, along with his predictions over the years.   http://www.stormfax.com/ghogday.htm

And the results of today’s ceremony……  http://www.examiner.com/holidays-in-providence/groundhog-day-2011-results-did-punxsutawney-phil-see-his-shadow-on-feb-2nd

OK, Phil did NOT see his shadow, which means he is not scared to come out.  Winter will soon be over and it is time to prepare for spring.  What else did Phil see?   Better yet, what are WE seeing?

According to USA Today, growth is on the upswing for 2011.  Now, you too can come out of your hole! 

   http://www.usatoday.com/money/economy/2011-01-24-1Aecon24_ST_N.htm

We can expect a rebound in home sales.  More people are renting now than before the boom years of 2000-07.   Some should not have been able to purchase a home in the first place, but there are many more out there that can and will purchase a home as the job market improves.    Read more:

http://online.wsj.com/article/SB10001424052748704254304576116402472968150.html?mod=wsj_share_facebook

And speaking of job growth, the Greater Nashville area is steadily recovering, and will continue to throughout the year.   Williamson County ranks 3rd in the US in job growth.  Check it out!

http://www.wkrn.com/Global/story.asp?S=13942518

Supply and Demand:  As the economy improves, demand for homes will rise, and so will home mortgage interest rates.  Prices in the Greater Nashville area have stabiilized and will be on the rise as our economy regains its health.  Those that do not own a home should get off the fence NOW.  Nothing to lose, and all to gain.   Read more:

http://online.wsj.com/article/SB10001424052748704268104576107923872216898.html?mod=wsj_share_facebook

Which brings me to the conclusion:  If you are considering buying your first home, or any home for that matter, you will not find a better value than in a new Ole South home.  Visit www.OleSouth.com for more information on our Middle Tennessee neighborhoods.  Just like the ground hog discovered today, it’s okay to come out and look around!

Happy buying and selling!

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, 615.896.0019  direct 615.593.6340.  Specializing in new home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

Nashville New Homes: Do the math…again.

Back in my school days, I had a teacher who’s favorite response when asked advice was to “do the math.”  Whether it was about which girl to ask out, or which class to take, “do the math” was always the answer.  Pretty sound advice too!

If you don’t own a home right now,  and you are paying rent,  its time to do the math.  Home ownership isn’t for everybody, but it is an important component of your future financial health.

Here is a helpful calculator to help you “do the math,” courtesy of Ginnie Mae, aka Uncle Sam:   (Use these numbers … 4.75% interest rate, 30 Year term, and 3.5% minimum down=payment.  First time buyers may qualify for ZERO down, using a 4.85% interest rate.  Visit www.thda.org for details) 

http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?section=YPTH

Even if you already own your home, the low fixed interest rates of today probably have you thinking about that next home, whether larger or smaller.  Go ahead and admit it.  After all, now really is a great time to buy that new home you have always wanted.  The perfect time may not be there for you down the road.  

Recently, I heard another creative reason for now being the time to buy.  If you wait much longer, interest rates will be substanitally higher.  Those that took advantage of historically low rates will not be wanting to sell and give up their historically low interest rate for a higher one.   If  there is a home on the market that you like, and can afford, buy it.

Okay, so your existing home may not command the sale price it would have a few years back.  Neither is the new home you are wanting to buy.   Lose and save?  Gain and pay?  “Do the math.”   When doing that math, keep in mind that your house is your home first, and investment second.

Have Questions?  We have answers.  Visit any of our www.OleSouth.com Greater Nashville New Home neighborhoods and explore all of your many options.  We take the stress out of buying a home!  And we’ll give you a stress ball too!

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, 615.896.0019  direct 615.593.6340.  Specializing in new home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

Nashville New Homes: New Home or older home? You decide.

Which in the Nashville area is better to buy?   A brand new home, or an older home?   Thats a good question and the answer really depends on who you ask.   Better yet, just ask yourself!  

Let’s compare…

New Homes

  • Everything is new, clean and fresh. 
  • Everything that is man-made has a useful life.  In your new home, you get to start the useful life clock!  Before you need a new roof, your hair color will have probably changed and you will be well on your way to retirement.  You will not be replacing corroded water and sewer lines in your lifetime.  The list goes on.
  • In a new home, depending on the stage of construction, you have the flexibility to personalize your home with your own choices!
  • There are many life styles and floor plans to choose from, all in the same location.  Decide where you want to live and then decide what you want your new home to be, not the other way around.
  • Stay healthier and safer in a new home.   You don’t have to worry about lead-based paints.  You don’t have to worry about what may be looming in the HVAC ductwork.  You don’t have to think twice about what may be in that carpeting.  Your home meets all the latest building codes.
  • A new home is certainly more energy efficient, which leaves you more money to enjoy life with.   Remember, you just can’t beat fun!
  • A new home comes with a warranty.  Many of the mechanical systems carry long term warranties in addition to the builder’s warranty.
  • You are the “first link” in the equity chain.  You get first dibs!
  • Your new trees are not as tall as your new home, eliminating the chore of gutter cleaning for many years.  You will have great fun showing pictures from the cruise you took while your old-home friends were cleaning gutters.

Older, Resale Homes

  • If you like to spend vast amounts of money on tools, an older home may be just for you. 
  • You can enjoy working on your house while your friends are playing golf, boating, fishing, hunting, watching ball games, or traveling.
  • You are not the “first link” in the equity chain.  Others have come before you. 
  • An older home may not comply with the latest codes, and may not be eligible for FHA financing.  That may not be a problem for you, but it could be a problem when you want to sell.  Not everyone has 20% to put down these days.
  • Buyers tend to have more negotiation power with resale homes than new homes.  Just like they do with used cars.  Remember, there are probably issues that you don’t even know about waiting to be fixed.
  • The older home may be in a neighborhood without protective covenants.  “Terrific!” you may say.  Until your neighbor parks a mobile home in the back yard for a brother-in-law to live in, who happens to work on old trucks.

 Those of you that prefer older homes, please do not take offense with this satirical comparison.  I know that a newer home is not for everybody… just the people that want more fun out of life and do not want their second job to be at home!

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, www.OleSouth.com, 615.896.0019  direct 615.593.6340.  Specializing in new home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

Nashville New Homes: Never Too Cold in a New Home.

My primary goal for 2011 is to have more fun at everything I do.  Whether it is work, just relaxing, or play… if it isn’t fun, we’re simply not doing it right!  With this “have fun at everything” frame of mind, we have found ourselves spending a LOT of time at the boat on Old Hickory Lake since ringing in the New Year. 

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This week’s cold snap in Middle Tennessee brings back many memories.  Many years ago, a great friend, Bobby Harden, wrote a song that was one of Mark Chestnutt’s greatest hits, “Too Cold at Home.”  At the time, he was living in a log mansion in southeast Davidson County and used to joke about coming to his boat in the winter to get warm, away from the many drafts in that house.  I can relate because our older home has them too.

Although we still own an Ole South home in Spring Hill, we currently live in an older ranch home in Nashville.  You know the saying… “They don’t build them like they used to…”   My response…. “Thank God they don’t.”   In our old home, the best method to conserve energy is to leave and go somewhere else… like to the boat.  It wasn’t that way in any of the Ole South homes I have owned.

Its never too cold in a new home.  Not only are new homes warmer in the winter and cooler in the summer, but they address the latest trends too!  Check out this list of top trends…. and Ole South addresses each category too!

http://realestate.msn.com/article.aspx?cp-documentid=26685367  

And the message that “New Homes are Better” is spreading, which is great news for our nation’s home builders.  Check this out:

http://www.mortgageloan.com/big-new-home-gains-predicted-2011-8220

But don’t wait too long to explore the new home options that are out there.  Times are “a-changing” and interest rates will be too!  Please call me anytime I can be of assistance in any way.

In the meantime, STAY WARM!

Nashville New Homes: Make home buying fun!

Every Real Estate professional I know likes to have fun, and likes to provide their clients an enjoyable buying or selling experience.  Some are better at having fun than others.

Every home buyer likes to have fun too.  They want to have fun and have an enjoyable home buying experience also.  Just like Realtors, some are better at having fun than others.

You don’t buy a new home every day, so why not make the most of the experience?  Here are a few tips:

1)     Focus on your new home as HOME!  Don’t stress on investment potential.  The very lifestyle factors that attract you to the home will attract others.  Your home will not be a “get-rich-quick” tool, but will lead to a more secure financial future.  Even with zero appreciation, you will have something to sell when it is paid for.  Try that with an apartment!  Even in today’s economic climate, homes in Greater Nashville have averaged 3.5% appreciation over the past 10 years.

2)     Explore the basics of home mortgages.  Know your financial capabilities before you shop and have a source for your required down-payment.  In Tennessee, first-time buyers may be eligible for their down-payment to be paid by THDA’s Great Start program.  Visit www.THDA.org for more information.

3)     Explore different areas close to, and further from work.  You may actually find your best quality of life in an area you have never thought of!  There are more ways to find information now than ever.  Use them!  It doesn’t cost anything to look.

4)     When choosing a Realtor or a home builder, find one that you personally like and can develop a relationship with.  After all, it is your money…you might as well have fun spending it!

5)     Contrary to popular belief, there is a perfect home at the perfect time.  When you find a home you like, that meets all of your needs, is within your budget, and gives you a warm feeling inside…that is the one.  No two homes are exactly alike, so questioning your emotions may actually cause you to miss out. 

6)     Too many cooks…. well you know the saying!   It never hurts to get advice from people you like and trust, but the more people you consult, the more opinions you will get, which most likely will add confusion.  Trust yourself first.  Others later.

At Ole South, we’ve made homebuying fun for over 25 years.  We take stress out of the equation and allow you to focus on what is most important to you…your new home.  Visit any of our Middle Tennessee locations today.  We’ll even give you a little yellow stress ball for starters!   Give me a call when you are ready to explore.

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, www.OleSouth.com, 615.896.0019  direct 615.593.6340.  Specializing in new home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee.

Nashville New Homes: Up, Up, and Away.

On my way to church this morning it was a blistering cold 26 degrees outside, but the sun was shining just like a summer day.  All of a sudden, I saw this hot air balloon being launched.  Before I could pull over for a picture, it was on its way soaring to new heights!

That reminds me of what we at Ole South are doing in 2011…. soaring to new heights… not in a balloon, but by offering unprecedented value in the homes we build.

For example, you will want to check out the new look of our maintenance-free townhomes at Villas of Rivendell Woods.  Two brand new home plans, unlike anything you have seen before.   Experience the flair of Key West or the sizzle of Bourbon Street from your private upstairs verandah, accessed only from your bedroom suite!

 Also new for 2011 are the most affordable new homes in Metropolitan Nashville Davidson County, in Spencer Hill, just minutes from downtown.  We have homes nearing completion from 109,990 to 129,990!  https://nashvillehomesblog.com/2010/11/03/let-the-cat-out/

And we’re also offering the very best ALL BRICK home value in Williamson County at Benevento East.  You simply will not believe these unprecedented values from the low 200’s.  Three-Car Garages and outdoor living areas are among the host of options.  

Did you eat your black eyed peas this year?  We did!

HAPPY NEW YEAR!

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Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, www.OleSouth.com, 615.896.0019  direct 615.593.6340.  Specializing in new home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee.

Nashville New Homes: 2011 is looking up!

The New Year of 2011 is upon us, and I couldn’t be happier!  Even the media is spreading positive news about the housing industry.  Here’s one example:

http://www.businessweek.com/news/2010-12-28/housing-seen-rising-to-3-year-high-with-boost-for-jobs.html

The time is now to buy a new home.  Not just because fixed interest rates are historically low and rising, Not just because costs are going up and not yet being passed on to the consumer.  Not just because of great incentives and selections of brand new homes at www.OleSouth.com

Buying a new home offers many tax advantages for those that can itemize expenses.  Your closing costs are deductible.  Your property taxes are deductible..and the list goes on.  Here is a list of 2011 tax tips.  Pay special attention to #4!

http://www.bankrate.com/finance/taxes/10-tasty-tax-tips-for-2011-1.aspx?ec_id=cmct_003

If you weren’t able to purchase a new home in time for Christmas, inking a contract before the New Year could be the next best thing!

Nashville New Homes: Merry Christmas!

I just cannot chance Christmas going by without putting out another plug for buying a new home. 

If Joseph and Mary had been in Middle Tennessee instead of Bethlehem, they wouldn’t have had to look any further than Ole South for a brand new, warm place to stay.  And as first time buyers, with THDA financing through Ole South Financial, they wouldn’t have needed any cash to put down.  The Three Wise Men, which might have been women, could have brought housewarming gifts instead of the herbs and ointments that were on sale that night at the local Walgreens.

 Being a church organist for most of the past 30 years, I’ve had the pleasure of serving Congregations of a variety of denominations –  Presbyterian, Baptist, United Methodist, Episcopal, and Lutheran.   I never have played at a Church of Christ.  They don’t have organs, remember?  Although each have differences, they all have one thing in common… the Christmas hymns.

I used to dislike the release of  new hymnals.  The ministers just could not wait to pick hymns that no one knew – including me.   Some in the congregation would bitch about the new hymns, and then the selections would be back to the more familiar hymns, except for one glitch…in the new hymnals, some of the words had been changed!  As the hymnals get newer, the verbage used  becomes more “inclusive.”   In other words, more liberal.   The Christmas hymns have fortunately escaped these revisions, for the most part.

As a child, I always pictured God as an old man, similar to Santa Claus, with a Charlton Heston voice.  After all, it does say in Genesis that man was made in the image of God.    Now we have that “inclusion” thing that brings that image into question.  The modern translations say man AND woman are made in the image of God.  Does this mean the first woman looked like Santa?

Could God actually be a woman?   Yes, God could be a woman.  Women get great pleasure in saying “I told you so” when you don’t believe them and they are proven right.    But we have to be realistic here.  God is more likely a man.   A woman God simply wouldn’t keep putting up with everything that goes on down here on earth!    So lets not split hairs.  What about God being a Spirit that can only be seen and felt through others?   That works. 

This past year has been difficult for Beth and I, along with many of our friends.  We have lost dear friends, family, and loved ones.  Others have been diagnosed with not-so-good news.   But at the same time, it has been a good year.   New friendships have been created, old friendships have grown stronger, and we are much more thankful for the simple things in life that we had been taking for granted.  

To fully appreciate being happy, you have to experience being sad.  To fully appreciate comfort, you have to experience pain.  To fully appreciate life, you have to experience death.  Sometimes, we simply have to sacrifice for everything to work out in the grand scheme of things.   God proved that, with Jesus. 

In the early 80’s, The Presbyterian Church released a new hymnal that included a simple hymn that has become one of my favorites for Christmas Eve.   Here are the words to this beautiful hymn:

Born in the night, Mary’s Child, a long way from Your home:
Coming in need, Mary’s Child, Born in a borrowed room.

Clear shining light, Mary’s Child, Your face lights up our way:
Light of the world, Mary’s Child, Dawn on our darkened day.

Truth of our life, Mary’s Child, you tell us God is good:
Prove it is true, Mary’s Child, Go to your cross of wood.

Hope of the world, Mary’s Child, You’re coming soon to reign:
King of the earth, Mary’s Child, Walk in our streets again.
 

May this year be your best Christmas ever!

 

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, 615.896.0019  direct 615.593.6340.  Specializing in new home sales in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

Nashville New Homes: “Needs” & “Wants”

In Nashville, new homes come in all shapes and sizes.  Somewhere out there is the perfect home that meets all of your needs, so get out there and find it!  You can start by visiting the new homes offered at www.OleSouth.com.   

One of the first questions I ask our visitors is “what in their new home is most important ?”   The answer tells if your prospect has given serious thought and preparation in purchasing a new home.   Think about it.  We are in the business of satisfying NEEDS first, and WANTS second.

Before you begin your quest for a new home, make two lists….one list of things that you need and another list of things you want.  Then, beside each item, write down how that item will make your life more enjoyable, or just how necessary that item will be.  

Many put a formal dining room at the top of the list, because their family comes for Thanksgiving every other year.  Let’s do the math!   The average home with a separate, formal dining room costs at least $10,000 more to purchase than a similar home with a breakfast room.  That’s approximately $70/month.  You will spend $1,680 in your higher payment just to have Thanksgiving at your house every other year.  That doesn’t even include the cost of the dining furniture either.   Will a few card tables and chairs in the Great Room suffice?  What about going to Cracker Barrel?

Others want a 4th bedroom because family comes to visit a week in the summer.  That extra 4th bedroom will cost at least $15,000, or approximately $100/month, not including the furniture.  Feel like you really need to pay $1200/year to give Mom and Dad their own room for a week?   A motel would be cheaper, and the visit more enjoyable too.  

Lets dig on.  Will that smooth-surface range really make food taste better?  Does an “undermount sink” actually accomplish anything?  If you have a double-vanity, will you really use both sinks at the same time?   Are you going to pay extra for a room full of hardwood, and then cover it with a rug?

Don’t get me wrong, there is absolutely nothing wrong with wanting a lot of extra features in your new home.   Ole South offers a great selection of home plans and options to satisfy your wants, while our included features will satisfy most all needs.   Knowing the difference between wants and needs will lead to more happiness..not just with your new home, but everything life has to offer. 

I once had a couple that had just gotten engaged tell me they HAD to have an upper AND lower Owner’s Suite.   I was expecting to hear that they were taking care of an aging parent when I was informed that “we fight a lot and need space from each other.” 

So….  Lets get married and buy a home.  Might as well go ahead and have a baby too!

Trey Lewis is a licensed Real Estate Broker in the State of Tennessee with Ole South Realty, 615.896.0019  direct 615.593.6340.  Specializing in new homes in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee