Panelized Homes: The Next Big Thing for the Building Industry?

Panelized Homes: The Next Big Thing for the Building Industry?.

Advertisements

Good News for Veterans, and Active-Duty too!

With Veterans Day being this week, I would like to take the opportunity to reach out to all Veterans and Active-Duty military personnel that may be thinking about purchasing a new home.

The great folks at THDA are always on the forefront of great programs that encourage home ownership, and they have a special program just for Veterans and Active Duty military.  You don’t even have to use your VA Eligibility to use the program either… but you can and save even more!

This exciting program is called “Home Ownership for the Brave.”  For more information, CLICK HERE.   I just had the honor of welcoming a veteran who used this program into his new home last Friday!

This program is a valuable tool and can be used in many circumstances.  Already have another VA Loan?  Already used your VA acquisition limit?  Debt Ratio issues?  Simply want a lower interest rate?  If you answered yes to any of these, you need to explore this program!

If you have a preferred mortgage lender, give them a call.  If you don’t call me and I will recommend one!

Mortgage interest rates are lower than they have ever been.  Why not pursue the dream of owning your home?  An Ole South model home is a great place to start

 

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, Gallatin, Clarksville, and Spring Hill, Tennessee.

 

Nashville New Homes: The HBAMT Home Show – Don’t miss it!

You know Spring is just around the corner when it is time for the Home Builders Association of Middle Tennessee’s HOME SHOW.  The event is being held at the Williamson County Agricultural Center and it is going on NOW through Sunday!

CLICK HERE for all the details.

Exhibitors began setting up their booths early Thursday morning and from what I saw then, this year’s show will be better than ever.  Not only will new home builders (LIKE OLE SOUTH) be there, but you will also see the latest in home improvements and services!

Whether by choice or not, we are all spending more of our free time at home.  Why not check out the latest trends in home enjoyment, especially outdoor living?  You will be happy that you did.

And while you are there, drop by and see Ole South.  Yes, you really can buy a $275,000 all brick home in Williamson County without making a down-payment!  While you’re there, register with Annette Spicer to win a $100 Gift Card.  Find out why thousands of Tennesseans are proud to say, “Ole South Built It.”

 

 

Trey Lewis is VP Sales & Marketing for Ole South Properties Inc, Tennessee’s largest independent home builder,  615.896.0019  direct 615.593.6340 or email TLewis@olesouth.com.  Specializing in new homes in the Greater Nashville area to include Nashville, Murfreesboro, Smyrna, Clarksville, Gallatin, and Spring Hill, Tennessee.

 

 

 

Nashville New Homes: Work Equity as your New Home Downpayment?

What is the one thing that everyone in this world has in common?   A FUTURE.  

That’s right…everyone has a future of some kind.   Although there are no guarantees in life, there are steps each one of us can take to make our future more stable and secure.  Owning a home is one such step that everyone can position themselves to take.  Your future really can be in your own hands.

Home mortgage criteria has changed a lot over the recent years, but that doesn’t mean it has to be more difficult to purchase a home.  It just means you have to provide more proof of your ability to be a responsible homeowner. 

FHA loans are the most widely used programs, where 3.5% of the purchase price is required as a downpayment, without exception. 

WAIT A MINUTE…. aren’t there ZERO DOWN home mortgages?  Technically, NO…. but actually…. YES! 

In Tennessee, there are loan programs where the Tennessee Housing Development Agency (www.THDA.org) will grant first-time buyers up to 4% of the purchase price to be used toward the downpayment and/or closing costs. 

If the seller of the property agrees to pay your closing costs, which Ole South will, you can use the THDA Great Start grant for your downpayment and administrative fees.   How does THDA do that?  What is the catch?

There is no catch.  The fixed interest rate for loans using the downpayment grants are slightly higher than those FHA loans with your actual down-payment.   If used responsibly, the Great Start program can be a very useful tool in financial planning. 

With today’s historicaly low interest rates, the money you would normally put down can be used to pay off other debts with higher interest rates.  A trusted mortgage professional can help you evaluate your options.  I happen to know many, so please let me know if you would like to know more.

There are other ways in addition to THDA to secure a downpayment.  You may have a relative or close friend that will give you the money, which has to be documented in the form of a gift letter affidavit that no repayment is required or expected.

And there is another provision that has been around a long time, but has basically been forgotten….WORK EQUITY.   Most builders hate it because it really is a pain in the ass to deal with.  BUT, it is a tool that can bring willing homebuyers to the closing table much quicker!  We offer the program at Ole South and you do not have to be a first-time buyer to participate!

FHA allows the seller to credit the buyer an amount up to $2.00 per heated square foot living area for painting the interior of the home, including all wood trim and doors.  The seller can also furnish the paint!  Please remember in your negotiating, that is the maximum allowed amount and the builder can get the same job done for 1/2 of that amount. 

You can also receive “work equity” credit toward your required downpayment for seeding and strawing your own lawn.  And the seller can furnish the grass seed and straw as well!

Lets do the math using an 1800 s/f,  $150,000 new home example, which Ole South offers plenty of choices.  (www.OleSouth.com

The required down-payment is $5,250.   Paint the home and you can receive $3,600 credit toward your downpayment.  You can seed and straw a typical new home yard and receive approximately $750.00 credit.  That leaves your total cash out of pocket at $900…. and you still get to take full advantage of the lowest rates available!

History proves that over time, owning is always better than renting.  Why not improve your financial future today by visiting one of our Middle Tennessee neighborhoods in Nashville, Smyrna, Murfreesboro, Spring Hill, and Clarksville?  Find out why thousands of home owners are proud to say:

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, Clarksville, and Spring Hill, Tennessee

Nashville New Homes: The “Dog Days of Summer”

I used to always wonder why people coined the phrase “dog days of summer.”   Back one summer in the early 1980’s, legendary songwriter Bobby Harden asked me to bring my keyboard over to his boat to play background on a song he had just written.  The song was about those old dog days of summer.  The title ended up being “Too Cold at Home.”   Several years later, the song was released by Mark Chesnutt.   We played it a lot over the years at the lake!  (Thanks Judie Wells for the antiquated picture!)

  

Rather than dog days, we at Ole South are having YES DAYS!  The upcoming weekend has been proclaimed Nationwide Open House Weekend all across the nation!   The weather is going to be perfect for an Open House also.  Like the song says, it is going to be “too hot to fish,” and “too hot for golf.”  Why not cool off looking at a new home?

In conjunction with National Open House Day, Ole South will kick off its 2011 Yes Days of Summer this Saturday, June 4th from 11:00 am until 4:00 pm at our Preserve at Old Hickory and Old Hickory Commons neighborhoods.   Tour our newest decorated model home (5011 Preserve Blvd. 37013 for you GPS tekkies) and enjoy hot dogs, refreshments, and a variety of family fun.  Yes, there’ll be a waterslide, a bounce house, as well as snow cones to give added relief from the heat.

And there is also a neighborhood yard sale as well.   A great way to find bargains, and meet the great residents of this neighborhood!

Now is an unprecedented time to purchase a new home.  Interest rates are lower than ever.  New homes are more efficient than ever before.  New homes are….well…. NEW!    Why not join us this weekend at one of our Middle Tennessee neighborhoods.  With brand new homes from 89,990 to 299,990, there is certain to be one for you!

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, Clarksville, and Spring Hill, Tennessee

Nashville New Homes: Take time to smell the mulch.

I can now cross another item from my “bucket list.”   I have lived to be 50 years old.  And..other than being fat, I feel pretty darn good!   I am thankful for having many good friends that helped make turning 50 more fun than it would have been otherwise!

It also helps to see that I am not the only one getting older.  Remember Ruby?

Birthday week 2011 will be one to remember.  From a surprise gathering at The Black Pearl at Blackjack Cove Marina on Old Hickory Lake, to dinner at Nero’s in Green Hills … the surprises keep coming.   It was a pleasant surprise to learn that “Nero” is actually still alive and well.  You see, man can live by corn cakes alone!  Like me, this restaurant has been in Nashville for 50 years plus also!  http://www.nerosgrill.com/

After spending a whole day cleaning the boat, another great surprise was coming home Monday evening to see this:

Thanks to Dana Moore and his crew, mulching is one less thing I have to do!   Don’t get me wrong, I enjoy working in the yard … but there are other things I enjoy doing more…

…Like selling new homes!   Fortunately, we have been quite busy lately and are starting more new homes each week to keep pace with sales!    Now is a great opportunity to purchase a new home in Nashville.  Our local economy is steadily rebounding, but interest rates remain historically low.  Whether you are a first-time home buyer, upsizing or downsizing, or investing… the “window of opportunity” is wide open.  

        

Don’t know where to start?   Why not give me a call at 615.593.6340?   Not sure where you want to live?  Check out our many Middle Tennessee New Home locations at www.OleSouth.com.  Come find out the many reasons why New Homes Are Better.  I know first hand, because I live in an old one.  The one with a freshly mulched yard that needs a new roof.

Regardless of your religious preference or faith, this time of year is all about coming back to life.  Brown grass is turning green, leaves are appearing on once-bare trees, and flowers are sprouting.   It looks like “its safe to come out now!”   It is, and I am looking forward to it!   Let’s all slow down, even if just for a moment, and enjoy watching nature come back to life.

I am going to take a few extra minutes and smell the mulch…before it washes away!

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, Clarksville, and Spring Hill, Tennessee.

Nashville New Homes: The stupid questions are the ones you don’t ask!

After the good-ole days of school, the thought of owning a home seldom crossed my mind.  I knew nothing about the process and was living under the assumption that I would have to have a large down-payment whenever the time came.  I didn’t feel comfortable asking questions.  I did not want to appear stupid.

A few years later, a friend who was a mortgage geek asked me why I had not purchased a home.  Being self-employed, I really did not know where to start, and did not want to admit it.   Swallowing my stupid pride, I finally laid all the pieces to the puzzle out there and purchased a home weeks later.  Then, I backed up to the “ass-kicking machine” for not asking someone sooner!  It really was that easy…and still is today!

Every year you do not own a home is another year you will not build financial security.  If the home you purchase does not go up in value at all, it will still be yours when it is paid for and you still have something to sell.  Home Equity loans have also put many children through college.  No apartment complex has ever managed to do that… except for its owners!

Lets address a few of the many questions that our first-time buyer of today might want to ask:

1)   How much down-payment will I have to have?     Don’t you just hate hearing the answer, “it depends.”  I do, and refuse to use that as an answer.  In most cases, you will have to have a minimum down-payment of 3.5% of your home’s purchase price.  In Tennessee, first-time buyers using THDA’s Great Start can purchase a new Nashville area home with ZERO down payment and ZERO cash out of pocket.  Of course, certain credit and income restrictions apply, but the program is relatively easy to qualify for.   Visit www.thda.org for more details.

Members of our US Military, Veterans and Active-duty, are also eligible for ZERO DOWN financing and can now receive a 1/2% reduction in their fixed interest rate under THDA’s new “Homeownership for the Brave” program.    Please contact me anytime and I will tell you all about these great options!  615.593.6340.

2)  Just what are closing costs?   Much like purchasing a car, closing costs include sales taxes and various fees.  The costs of obtaining your loan are also closing costs, and there are many options there as well.  Also included is an escrow account where you property taxes and insurance is pre-paid into the future.  Typical closing costs to range between 3 to 4% of the purchase price of your home.  This amount is due at the time of closing.

3)  Who pays closing costs?  Everybody pays in one way or another!  Who gives the money at closing is negotiable.  It is very common for buyers to negotiate with the seller to pay closing costs.  If you purchase a new home with Ole South, ALL of your closing costs are paid when using our network of preferred lenders.  In any case, we will pay 2% toward your closing costs with any lender.  We make it easy to own a new home.

4)  How much money do I need when I decide to contract on a home?  The deposit amount you place when you contract is a negotiable figure between buyer and seller.  That deposit is called “Earnest Money” and is held in escrow to apply toward your cash requirements at closing.  We at Ole South ask for a minimum $500 deposit at the time of contract.  If you use the THDA Great Start program through Ole South Financial, you will receive this deposit back at closing!

5)  When do my payments start?  Payments on your new home do not start until the home is completed and the transaction is closed.  Typical first payments are due 30 days forward to the 1st of the next month.  If you close on April 15th, your first payment will be due on June 1.

So get out there and explore the many homeownership options that are in front of you!   See for yourself how new homes are better.  Start by visiting the new home neighborhoods of Ole South.  And remember, if you have questions….. we have the answers!   www.OleSouth.com

This slideshow requires JavaScript.

 

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, Clarksville, and Spring Hill, Tennessee.