Category Archives: First Time Buyer Information

Nashville New Homes: Ten more days…

Isn’t it hard to believe that in just 10 days it will be Christmas morning?   The Christmas programs that everyone has been rehearsing for will be over, another Christmas Eve will have passed, you’ll have a new supply of King Leo candy sticks, and if you need anything at the grocery store, you’ll be out of luck and have to wait, or go visit Habib at the Kwik Sak.  Get a lottery ticket too while you are there.

Its also hard to believe just how bitter cold it is right now.  Very few things beat coming into a warm home when it is cold and I had the pleasure of welcoming a first time buyer into their brand new, warm Ole South home today.  That’s always a special time, but it was especially meaningful to me today… I had left my coat in the car!

If you haven’t bought the perfect Christmas gift for the family yet, consider a new home if you don’t own one already.  Can you think of a good reason not to?    You can own a brand new home in Nashville for less than $800 per month, including taxes and insurance.  And you can also pay more if you would like!

No matter how energy efficient your new home is, cold weather like we are experiencing right now will spin your meters like a roulette wheel.   Everyone knows that new homes have proper insulation, energy efficient windows, high efficiency heating systems,  efficient appliances, etc.   But here are a few helpful hints to save a few extra heating dollars with any home this holiday season:

1)  Try setting your heat at 65.   That sounds crazy, but we started that at our house several winters ago and it really has saved a fortune.  (If you think that is cold, go outside for a few minutes and then come back in) 

2)  If you have a central heating unit, switch the fan from automatic to MANUAL mode.   Warm air rises and cold air falls – leaving the fan on manual keeps the air evenly blended and actually reduces the time the heating elements are on. 

3)  If you have a heat pump, whenever you need to set the temperature higher, do it in small increments of 2 degrees.  This will keep the electric coils from kicking in, and slowly raise your temperature. 

4)  Build a Fire?????   I know people say not to use a fireplace because all the heat goes up the chimney and I think that is a bunch of crap.   If that is true, why do people build fires in the fireplace to keep warm when the power goes out?  Just a thought….

Also, no matter what type of home you live in, keep a pair of gloves, a flashlight, and a blanket in your car and keep the gas tank full.  This time of year, anything can happen on your way home from work.

Bottom line….Stay warm and take time to enjoy the season before its gone!

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.

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 college to attend, “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.  It may not be there for you down the road.   Let’s “do the math.”

Recently, I heard another creative reason for now being the time to buy.  If you wait much longer, interest rates will be substanitally higher and no one will be wanting to sell and give up their historically low interest rate for a higher one.  

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: Pass the mustard!

As one gets older, (ok, me…), you sometimes think back to your younger years and the stupidest things are usually the first to come to mind.  Funny thing, if you read into those stupid things analytically like old people do, you can usually find a hidden meaning.

Back in the college days, did you ever incoherently go to the Krystal late at night with the munchies?  Go ahead, admit that you did.   Then the competition began for who could get the most pickles to stick against the windows? 

We found that the more mustard you put on the pickle, the greater the odds of the pickle sticking to the window….and holding too.   So, what’s the hidden meaning in all this?

It doesn’t take an economist with a nice beard to know that we are in a sluggish economy.  Mortgage interest rates are the lowest in 59 years and inflation in construction, although present, has yet to be passed on to the consumer.  But, there are still a lot of people capable of buying their “first-time” new home that haven’t gotten into the market yet.   Don’t they realize the importance of home-ownership to their future financial security?

Home-ownership is the pickle and we simply have to put more mustard on it to get it to stick.  And that is what we are doing at Ole South.  We are constantly improving the new homes we offer, and including even more reasons to act now. 

For example, visit any of our model homes over “Black Friday” weekend and get a certificate for a flat-screen HDTV to use with your new home purchase before June 11, 2011.  And on select inventory homes, you’ll even get a Stainless Steel appliance package at no extra charge.  Closing costs?  What closing costs? 

You can also visit our website, www.OleSouth.com, and register to win (2) tickets to see Garth Brooks live at Bridgestone Arena December 16th.  After we get your email address, you can bet you will become aware of all the reasons to buy a new home…now!

  We are expanding into even more communities where we can offer the very best new home value in Middle Tennessee.  You simply have to pay us a visit…and tell your “new-home-less” friends too!  We look forward to seeing you!

And until then, pass the mustard!  And the ketchup 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: Good News Everywhere You Look!

There is a lot of good news out there, especially about Nashville, Tennessee being the perfect place to live!  Forbes Magazine has recently ranked Nashville in the top ten slots of several lifestyle categories:

According to Forbes, Nashville is the 5th most affordable place to live.  They also rank Nashville #7 in the top places to call home.  Folks, the Greater Nashville area is happening! 

Everone has got to remember that the national news is just that – news from all across the nation.  To apply the national news scenarios to every city would be like having one national weather forecast.  I can just see us now dressing for a snowfall in Denver when it is 75 and sunny in Nashville!

So, if you live in Nashville, you need to feel good about your choice!  If you don’t own your home yet, give home ownership serious consideration.  Don’t just rely on my advice …there’s more out there.  Check out the Top Ten Reasons To Buy A Home that was recently published in the Wall Street Journal:

http://online.wsj.com/article/SB10001424052748703376504575492023471133674.html

Convinced yet?  Why not visit one of our Ole South new home neighborhoods in Greater Nashville?  Whether you want to live in Nashville, Smyrna, Murfreesboro, or Spring Hill… you will certainly find the right home in the right neighborhood for you!

Today, if you are trapped at work, or just hanging out on the couch at home with nothing planned, tune in to Talk Radio 99.7 FM today at 12:00 noon and you’ll have even more knowledge about today’s market!

Buying a home is great.  Buying a new home is even better!

 

 

 

 

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, but not limited to, Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee.

Nashville New Homes: A First-Time for Everything…why not a NEW HOME?

Are you tired of hearing people, especially me, keep saying that NOW is an unprecedented time to purchase a new home?   Don’t get mad at the messenger…. get mad at yourself if you don’t take action!

Buying a first home is a serious decision to make.  After all, home ownership really isn’t for everyone.  Before deciding to buy your first home, you’ve got to ask yourself some questions.  Just don’t let people see you talking to yourself or they might think you’ve gone off the deep end!

1)   Are you planning to reside in your new Nashville home for at least 2 years, if not longer?  If so, lets go to the next question!  If not, keep renting or enjoy living free with Mom and Dad.

2)   Just how much of a monthly house payment can you comfortably afford?  If you are currently renting and paying $700 or more each month, you can own a new Ole South home in Nashville for about the same monthly cost.  Put some more payment money with that and the size and features of your new home can grow even more!

3)  But can I qualify for a mortgage?  Great question!  The rules and guidelines are constantly changing, but if you have a steady job and are paying all of your bills timely, there is most likely a loan for you!  A minimum 620 credit score is typically required for first-time buyers, and that number will be raised in the very near future.  As a matter of fact, many lenders are already requiring 640 or higher.

4)   How much house payment can I qualify for?  Everyone’s financial situation is different, so there is no definite answer without knowing all of your information.  For now, take your annual gross income (before taxes) and multiply that by .45.  That is the amount of money you are typically allowed for annual debt payments, including your new home payment.   Divide that number by 12.  Subtract from that figure any monthly credit card minimums, car payments, or installment debt that you have.  Don’t count your current rent, groceries, child care, utility bills, or party money…that’s already accounted for in the formula.  After deducting those payments, the remainder is typically the monthly house payment a first-time buyer can be approved for, with little to no down-payment using THDA’s Great Start program for first-time buyers.  (www.THDA.org)  

Using the Great Start program, the State of Tennessee basically pays your required 3.5% down payment, and charges a slightly higher interest rate.  If you would rather pay your own down-payment, it is possible to be approved with a higher debt ratio and also receive a lower interest rate.  Consult a mortgage professional for a detailed analysis of your financing needs.  I happen to have one to recommend, Chris Meagher or David Prince at Ole South Financial, 615.898.7152.

4)   I am now comfortable with getting a loan aproval, so what is next?   First off, please visit www.OleSouth.com for information on the many different neighborhoods you may choose to live.  We have a decorated model home in most communities, so plan a visit at your earliest convenience!  If you are working with an independent Realtor, please bring them along too!  Our on-site new home specialists will be able to direct you to the perfect new home for your needs.

5)   How much money do I have to have in order to purchase?   All that is required to contract to purchase is an earnest money deposit, which is negotiable between buyers and sellers.  At Ole South, we ask for a $500 deposit at the time of contract.  You will be responsible for bringing the balance of your down-payment to closing when you are ready to get the keys to your new home!  By the way, veterans and active-duty military are eligible for a VA loan, where no down-payment is required!

Although I am old (and fat too), I still remember buying my first home.  I had no clue about anything and was very nervous to start the process.  I am ashamed to admit that I actually could have, and should have, bought several years earlier than I did.  I was just scared of the unknown.

There is really no need to be apprehensive, or afraid to start exploring purchasing your first home… especially now!  I promise that I won’t go into the fact that interest rates are at a 59 year low and that inflation will soon kick-in.  Let me just say with confidence that NOW truly is an unprecedented time to purchase a new home if the timing is right for you.

The best part of my job is being able to assist people in making the dream of home ownership a reality.  I would love to discuss the possibilities with you as well!  Please feel free to contact me anytime at 615.593.6340 or via email, TLewis@olesouth.com.

One last thing, wherever you decide to purchase, spend some quality time in that neighborhood before you buy.  Not only will you learn more about your new area, but you’ll have more neighbors on hand to welcome you when you move in!

Have a great weekend!   And remember…..

 

 

 

 

 

 

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: Let The Cat Out!

Now that all of the excitement of the 2010 Election is all over, it is time to move on!  Regardless of who won, and what they are going to do, nothing is going to jump-start the economy until people start buying things again.  After all, nothing happens anywhere until someone buys something!

All of the bearded economists say that home sales will be the driving force of our economic recovery.  Everyone already knows that Ole South is the best at building the most affordable new homes in Middle Tennessee.  With this newest introduction, the best is getting even better! 

The cat is now being let out of the bag!  Ole South just purchased the remaining lots in the Spencer Hill neighborhood of Nashville, just minutes from downtown between Interstates 24 and 65.

Construction started today and here is a first look at the inventory homes we are building there:

Priced at $109,790 check out this 3 BR, 2 Bath home with 1133 s/f living area:

Need something larger?  Check out this 3 BR, 2 BA, 1248 s/f living area plan at $116,990: 

Here is another awesome plan with 3 BR, 2 BA and 1316 s/f living area at $116,990

And for those wanting a larger 2 story home, check out this 3 BR, 2.5 BA 1615 s/f living area home..priced at $129,990!

All kitchen appliances are included!  And we will even pay ALL of your closing costs, using Ole South Financial, our SunTrust Mortgage Joint Venture.  ZERO-DOWN financing is even available for first-time buyers!

Forbes Magazine ranks Nashville #5 on the list of most affordable cities to live.  ( I still cannot undertand why it costs more to live in Birmingham!)   If Forbes had only known about this new Ole South neighborhood, Nashville certainly would have been ranked #1!  For more information on Spencer Hill, or any of our Middle Tennessee communities, please contact me!  615.593.6340 or TLewis@olesouth.com.

Another cat got out of the bag last month and you will not believe the unbelieveable new home values we are offering in Williamson County!  Check out this monster-all-brick-home at $254,990 in Benevento East:

The election of 2008 was all about change.  The election of 2010 was all about changing the change.  You can bet on one thing, this is an unprecedented time to purchase a new home! 

Interest rates are historically low.  This will change.  Inflation, although present, is not yet being passed to the consumer.  This too will change.  The foreclosure crisis we keep hearing about is going to make lending procedures criteria more difficult, which always means more costly.  Again, more change.

So, if you’ve ever dreamed of owning a new Ole South home,  take a LOOK NOW, before more change takes effect!

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: What are YOU waiting for?

It is another fine fall day in Nashville.  Why not fill your day doing some fun things for a change?  Before you hit the streets to search for your new Ole South home, start out with Sunday Brunch at The Black Pearl Restaurant on Old Hickory Lake.  The atmosphere is incredible, the food is great, and prices are affordable too!  Check out their website www.blackjackcove.com.  

No, I am not there today, but many of my friends are.  I am consuming a bowl of raisin bran before someone buys new home today.  I am here:

But, I will be at The Black Pearl after 5:00!  OK, enough about eating, drinking, and being merry…let’s talk about new homes!   If you do not own your home, right now go look in the mirror and ask yourself “WHY NOT?”  Now, if Sandra Bullock is still insisting that you move in with her, you would be stupid to buy your own home.  Very stupid.

Home affordability is at a peak right now.  Fixed interest rates are at a 59-year low.  This is not snake oil folks, this is real.  It says so right here:  http://www.tradingmarkets.com/news/stock-alert/fre_mortgage-rates-at-59-year-low-1230803.html.  Another great reason to buy NOW is that prices are low and will soon start to rise.  I can tell you factually that building material costs are rising, but have not been passed on to the consumer YET.   Change your financial future and BUY NOW.  And buy from OleSouth.com.  What are YOU waiting for?

We had a company dinner this past Thursday evening at our owner’s home.  As I walked down the driveway, I quickly realized that this was not going to be an evening  where I wish I was a horse so I could sleep standing up.   Here is what I saw when I arrived:

And FUN it was!  The food was incredible.  Anyone that is familiar with Ole South knows that we are the best at what we do – and that is building the best value into every home we build.  The coming year will be no exception because the “best” is getting even “better.”   Visit any of our 20+ Nashville area neighborhoods and see for yourself.  With new homes in Nashville, Smyrna, Murfreesboro, and Spring Hill, you will find the perfect home for your needs.   If you cannot get out today, start with a visit to our website, www.OleSouth.com.

Have a great day!

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: Soon it will be Christmas Day.

In a previous blog topic, it was revealed that Santa Claus works for Ole South and is feverishly building new homes just in time for the holidays.  Well, here is proof!

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Did you know that the average apartment rent within a 10-mile radius of downtown Nashville is $937 per month?  For those struck with disbelief, click this link.  http://www.rentjungle.com/average-rent-in-nashville-rent-trends/  

Now that you are a believer, guess what?  Ole South offers BRAND NEW homes with monthly payments less than that.  They are only 5 miles from downtown Nashville.   YOU can easily own one!

In the above gallery you will see new maintenance-free town homes under construction in Rivendell Woods of Cane Ridge, in southeast Davidson County.  First time buyers can  purchase one of these new homes with ‘ZERO DOWN for less than $800 per month, including taxes, insurance, and HOA maintenance fees, with approved credit of course.  If you ask nicely, all kitchen appliances are included too!  (We also have new town homes 3 miles away at Old Hickory Commons for less than $750 per month)  No this is not a trick folks….FIXED INTEREST RATES also! 

Think you would rather have a traditional neighborhood home with a 2-car garage?  We’ve got those too!  Each of the homes displayed above in the “picture gallery thing” can be yours for less than $1000/month, including taxes and insurance!  Don’t tell anyone, but we’ll include all of the kitchen appliances on these as well!

For those desiring an all-brick home in Williamson County, Santa and crew are building your dream home right now in Benevento East.  Buy now and choose your interior selections – or buy later and like what I like.  You make the choice!

If you are looking for a home in the Greater Nashville area, including Smyrna, Murfreesboro, and Spring Hill, you owe it to yourself to explore the benefits of buying a NEW home from Ole South, Tennessee’s #1 Home Builder.  You just might be “one-click” away from your new home!  www.OleSouth.com  

There are many good reasons to live in Nashville.  Now you’ve got reasons to call it home!   You can reach me  anytime by e-mail (tlewis@olesouth.com).

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: Yes, there is a Santa Claus.

Job-loss and unemployment rates are real, but more importantly, we must focus on the fact that 90% of our working population continue to work.  The 90% have got to be encouraged to carry-on with life before this economy can turn around.  The only thing anyone gets from sitting on a fence is blisters.

News of the “impending moratorium” on home foreclosures is spreading the nation.   Those that are facing foreclosure on their home are being granted a temporary reprieve, and hopefully this reprieve will allow enough time for those affected to form a serious plan to get their future finances in order.   Read more about it here: http://www.tennessean.com/article/20101011/BUSINESS01/10110327/2047/NLETTER01?source

My first reaction was ….”Wow.”   Just last month, the “Administration economists” said the recession ended in 2009 and recovery, although slow, had begun.    My second reaction to the news was “I bet more people wish their home mortgage was with Bank of America.”    Christmas just might be early this year.

In reality, Christmas has come early for the housing economy for several reasons.  Mired down in technical difficulties is the foreclosure process.  We all know that foreclosure sales bring the least amount of money to the lender, and have dire consequences for the property owner.  Foreclosure sales also do the most damage to property values in the surrounding areas.   These low-net, value damaging sales are for the most part stopped for the time being, which benefits the majority of property owners in this country, even if it is just for the short-term. 

Meanwhile, the short-sale process is still alive and well.   Perhaps lenders will now be even more attentive to entertaining offers that they receive.  The lenders get more for the property and the sellers avoid the foreclosure mark on their credit report and can begin re-building their lives.  Without the foreclosure sales forces, we will see further stabilization in home prices.

With foreclosures temporarily off of the market, the exceptional values offered in a BRAND NEW home stand out clearly.  The values offered in today’s new home are beyond comparison, especially with today’s unprecedented fixed interest rates.   Why buy a used toothbrush when you can buy a NEW one?  The same applies to new homes!  Don’t miss exploring these options.

With a Fed Rate of ZERO, and untold billions of bailout money already in the coffers, is the new “moratorium” really hurting the lenders that much?   I feel that the more that property values are allowed to stabilize and improve, the more those troubled assets are worth… when the time comes that they can be sold without issue.

So, here is some sound advice for anyone that may have questions:

1)   If you own your home and are looking to move-up or down-size, get your home on the market now!  What equity you may give-up for a sale will be made up on your purchase in most cases, especially in move-up situations.

2)  If you are able to keep your existing home AND purchase another, you can have the best of both worlds.  Hold your existing property until values climb AND take advantage of today’s market.  Rental property is in huge demand right now and if you find the perfect tentant, this avenue makes great sense.  Consult a Real Estate professional to explore your options.

3)  If you are not behind on your payments, keep making them, even if they are to Bank of America.  Your debt is legal and real.  Interest charges continue to accrue.  No one is going to get a “free home” out of this situation, unless you have a winning lottery ticket.

4)  If you are behind on your home payments, but foreclosure has not been initiated, get that home on the market now!  Remember, the inevitable is just being delayed a bit.  Use the gift of time wisely.  Consult a Real Estate professional and explore your options.

5)  If you are planning to purchase a home in Nashville, Tennessee, you owe it to yourself to explore what we at Ole South Properties have to offer.  Visit our website www.OleSouth.com for more information, or contact Trey Lewis at 615.593.6340 – TLewis@olesouth.com.   My specialty is in NEW HOME CONSTRUCTION but I will be glad to share advice and point anyone in the right direction.  There are many great Realtors in the Greater Nashville area whose services I am proud to recommend.

Yes, there is a Santa Claus and he doesn’t work at Bank of America.  He works at Ole South and he is working feverishly to build your brand new home for the holidays!

Today is another beautiful day in Nashville.  Let’s all get off the fence and enjoy it!

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: Affordable Housing…Provide it, or it will create itself.

I have been tossing this blog topic around in my head for some time now, just waiting for the inspiration to address it.  Just minutes ago, today became the day.

Bank of America just announced they are suspending foreclosure actions in all 50 states.  Don’t just take my word for it, click here for the full story.  http://money.cnn.com/2010/10/08/real_estate/bank_america_50/. 

Okay, now that you read the story, lets take a real indepth look at the situation… and we’re going to have to look way back!

I was fortunate to enter my Real Estate career in 2000.  Business was good.  Along came 9/11 and America pulled together as a nation.  Values and home ownership were prevailing themes.  With demand for new homes increasing and no end in sight, inflation and greed took over.  Land prices skyrocketed.  Development projects went to the higest bidder willing to pay the premium for quick response.   The cost of building materials soared.  Many predicted there was no end to the good times in sight.  I believed them too, and had a lot of fun in the meantime!

Then one day, we look around and see that affordable housing had all but disappeared.   Home prices had escalated over the capabilities of the typical first-time buyer.  Rather than allowing market forces to adjust pricing THEN, along comes the mortgage industry to further facilitate the ever-growing “bubble.”  Interest-only loans, Adjustable Rate Mortgages, and Stated Income Loans allowed buyers to continue paying even higher sale prices.  If you could breathe and move toward light, you could be approved for a home loan with certain unscupulous lenders, even with them knowing you could not afford it. 

Consciencious and Professional Mortgage Originators and Underwriters continued to use the established and acceptable lending criteria that were in place.  Unscrupulous Mortgage Originators and Underwriters did not.  Rules are rules only when they are being enforced and these guys knew no one was watching.  Greedy investors lined up with money to lend.  Increased rates for increased risk.  Everybody wins!  After all, the properties were increasing in value exponentially each year.

YEP!  They sure were…until the first-time buyer segment of our economy put their foot down and said “NO MORE.”  The first-time buyer’s inability to participate in the housing market was about to topple the very market that they had helped create.  There were no more logs to place on the fire.

Fast-forward to “the wake-up-call.”  Housing values dropped, and will continue to fall until the housing market is once again within the grasp of the first-time buyer.  In my opinion Government has over-reacted with numerous new lending criteria initiatives.  These initiatives are sound fundamentally, but a wiser path would have been to simply enforce the criteria that was already there.  The fire was already burning down as a result of market forces, and government poured mass-buckets of cold water on it – and that continues to this day.  Lots and lots of affordable housing options have now been created, mostly at the expense of the taxpayer.

Thankfully, the Greater Nashville housing market was not hit as hard as other areas of the country.  I truly believe that is because of our accessibility to affordable housing. 

At Ole South, our mission has always been to provide the very best selection of  homes that address the needs of the first-time buyer.  That mission is alive and well today!  With brand new maintenance-free town homes starting at $89,990 and brand new traditional neighborhood homes starting at $119,990, we remain committed to keeping the Greater Nashville area an affordable place to live.

But that’s not all… We have become very good at building new homes for the “move-up” buyer, as well as the buyer that wishes to down-size and simplify their life.  Learn more at www.OleSouth.com.

We’ve always worked with responsible lenders too!  Ole South Financial, our SunTrust Mortgage Joint Venture, has made new-home ownership a reality for thousands of buyers and they are ready to assist you too!  Give them a ring at 615.907.2296.

Please do not hesitate to contact me anytime we can be of assistance in any way.  You can rest assured that our neighborhoods in Nashville, Murfreesboro, Smyrna, and Spring Hill will be your best new home value…guaranteed!

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.