Category Archives: Nashville New Homes

New homes in the Greater Nashville area to include Spring Hill, Smyrna, and Murfreesboro.

Nashville New Homes: Great Deal, Necessity, or Smart Financial Move?

In economic times like these, we should ask ourselves this question every time we consider purchasing something:

“Is this a Great Deal, a Necessity, or a Smart Financial Move?”

But most of us, including myself just don’t take the time.  Either we really don’t want to know the real answer, or we just don’t care.  We want whatever it is.

This week, a young professional couple pulled up at the model home in a brand new luxury sports car.  I know it was new because it still had the temporary dealer tag in the back window.  As they approached the door, I was confident that this was my next sale.

After a warm greeting, I asked them “what in a new home would be most important to them?”  Their answer…. “a new home…FOR RENT.”  Well damn!  

Even new home sales professionals know that home ownership isn’t for everyone.   So, lets find out why this couple shouldn’t buy.   Were they here in Nashville on a temporary relocation?   Were they expecting a transfer within the next year? 

No, they are from the area and have no intention of relocating away.   Further discussion revealed the reason for wanting to rent.  They were just unsure of the current Real Estate market.  They wanted to wait until the news media confirmed home prices have bottomed out, and appreciation certain.

I don’t want to appear cynical, but the car they drove up in was 1/3 the price of a nice home.   It lost approximately 30% of what they paid for it the second they signed the purchase agreement.  It has little chance of ever being worth what they paid for it.  And there are no tax advantages when they do sell it for less than they paid for it (unless they are self-employed and use the car for business.)  But, I know better than to make fun of something that someone purchased.  The car never came up in the conversation…. well not until later anyway.

If they had asked the above question about the car purchase, the only possible answer would be “a great deal.”    I bet the new car salesperson would have danced a jig around answering the question too!  But, they had received a nice discount, zero down payment, and 0% financing for 72 months.

 

For “First-Time Buyers” in Tennessee, buying a new home is almost that easy.  You can purchase a brand new home with zero-out-of-pocket money using the ‘Great Start” program, offered by THDA.  Coupled with today’s record low interest rates, you can more than likely own your new home for the same, or less, than a comparable rental would be.

The new home will not go down 30% in value the day you move in.  Real Estate has firm documentation of appreciation over time.  Chances are very good that your new home will one day be worth more than you paid for it.  Mortgage interest is tax deductible.  So are property taxes.   You can also turn your new home into investment property and rent it out, should you ever choose to move.    Try all that out with a car.  You can also borrow money on your equity.  Try that with an apartment.

Ole South has brand new homes, of all shapes and sizes, in a variety of locations throughout Middle Tennessee.  With prices ranging from $89,990 to $299,990, you are certain to find a home to meet your needs.    For more information on our locations, please visit www.OleSouth.com.   Visit any of our model homes and find out for yourself why thousands of Tennesseans are proud to say “Ole South Built It.”

And while you are there, ask yourself the above topic question.  At Ole South, the correct answer is “All of the Above!” 

After more discussion, the visiting couple decided the time was right to explore purchasing a new home.  I am sory to say that expedition did not take very long ….. their sparkling new car payment had pushed their debt-to-income ratio way over approvable limits.  For them, renting it is for a while longer.  And we’ll stay in touch until the time is right for them to explore again!

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

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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: “Homeownership for the Brave” – Breaking News for Veterans and Active Military!

The Tennessee Housing Development Agency just hit a “home run” in their newest program, “Homeownership for the Brave.”   Those that are eligible will receive a ONE-HALF PERCENT permanent reduction in their fixed interest rate on their home purchase!

This program is valid for purchasing a home, preferably a new one!   Here is a list of those that are eligble for this great program:

*   All Veterans

*   Active Duty Military

*   Retired Military

*   Active Duty Reservists – or Reservists who have served 180 days minimum active duty

*   Personnel discharged under conditions other than dishonorable

*   Spouse of Veteran, or Surviving Spouse of Veteran

There are  certain income and purchase price restrictions, per existing THDA guidelines.  Click here for more eligibility information:  http://www.thda.org/singlefamily/dpchoices.html

This program is BRAND NEW and not even listed on THDA’s website yet.  (www.thda.org)   If you would like additional information, please do not hesitate to contact me anytime at 615.593.6340, or your favorite mortgage lender.  If you don’t have a favorite lender, why not give Chris Meagher or David Prince at Ole South Financial a call at 615.898.7152.  Remember, if you use Ole South Financial for your new home mortgage needs, ALL CLOSING COSTS ARE PAID on your new Ole South home.

And don’t forget that certain military personnel are still eligible to take advantage of the Home Buyer Tax Credits!  This was discussed in a previous blog post here:  https://nashvillehomesblog.com/2010/11/10/thank-you-sir/

We have new homes all over Middle Tennessee, including Clarksville!  For detailed information on our neighborhoods and available homes, please visit our website, www.OleSouth.com.  Even better, visit one of our model homes and see for yourself why “New Homes Are 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 Nashville, Murfreesboro, Smyrna, and Spring Hill, Tennessee

Nashville New Homes: It’s not personal.

In new home sales, or any sales field for that matter, there is rarely the perfect time to schedule a week-long trip.  What are you going to miss?  What will you return to?  These are questions that go through the mind.

 This year, we managed to select the perfect week for our mission in Honduras, which hopefully you read about in past postings.  We missed the largest snowfall of the year and we missed the most frigid temperatures recorded this winter.  On our return day, the weather turned near perfect!  What timing!

The warmer weather turned loose a hotbed of activity in the new home market with our sales and traffic at levels we had not seen since the home-buyer tax credit expired last year.   I am proud to say that ALL of our available new homes in Nashville’s Spencer Hill are now pending!   And we’re starting more, even a 4-bedroom home for $149,990!

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The traffic surge continues into this week too, thank goodness!   And according to this, the same trend is developing in Nashville!   http://kennethbargers.com/2011/02/09/2011-home-sales-begin-with-increase-in-the-greater-nashville-area/

 The one thing all prospects have in common right now is they all are expecting  “a deal.”   

They’ve heard all the national statistics on home sales and they are also hearing us shout “now is the time”  from our rooftops.  They are reacting by exploring their options.  We have to react smartly and cannot afford to let emotions block the way to a potential sale.    

There have been recent examples of transactions that could not be fathomed at any other time.  Mansions listed for 1.5 million selling for 800k, short-sales of homes where 180k is owed selling for 150k or less, etc.  Transactions like these are what prospective buyers have heard about.  Even though these transactions are not the mainstream in Nashville, their expectations have been raised.  It is our charge as Realtors to keep expectations in check, but most of all make everyone involved realize that “it’s not personal.”

Realtors are solutions to needs and desires.  Most Realtors have a realistic idea of what can be accomplished in a successful deal and set expectations accordingly.   Listing Agents and Buyer Agents have a duty to set parameters within reality. 

Buyer agents have an exceptionally difficult task in balancing their clients expectations and the reality of a successful offer.  Their clients have to know that they hit “rock-bottom”  without leaving a single dime on the table.  The process may start with an offer of ridiculous expectations, and it may start with an offer closer to reality.   It depends on the Buyer Agent and the desires of their client, but in neither case is to be taken “personal.”

Listing agents also have their hands full.  When was the last time you presented an offer to your “seller” only to hear  “They want WHAT?  Do they think I am a fool?  To hell with them, etc…”  The listing agent also has to set expectations, and focus much harder on taking emotions out of the picture when presenting offers.  “It’s not personal!”

Nashville is very fortunate to have a diverse population, and especially fortunate to be a destination for people relocating to the United States from other countries.  Negotiating tactics vary and must be kept in perspective.  In many countries, negotiations start AFTER everyone has agreed.  All of us have to know that this is simply a process and not an indication of the buyer’s honor or integrity.  “It’s not personal.”

In negotiating a recent contract, the laundry list of items and price concessions appeared endless.  You CAN do this and that.   Yes, technically we could.  But, we won’t.  It’s not personal.

The most important ingredient to any negotiation is the element of mutual RESPECT.  Without that, your deal will go no where.

Let the negotiations begin!

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: There’s no place like home.

Like the song says, “There’s no place like home,”  especially when that home is a brand new home.  No toenails in the carpet and no strange smells…unless they are your own!

Having just returned from a marketing conference In Salt Lake City with many other great home builders, I can say with confidence that new homes really are better…all across this great country!   If you know anyone needing a home outside of the Nashville area, please let me know because I now have more great home builder recommendations.  Even far away!

And if you’re in the Greater Nashville area and considering purchasing a new  home, you can view all of our communities on Home Center Network on Comcast Channel 49 at 9:00 am and pm, and anytime at www.homecenternetwork.com.    

You will want to give special consideration to a life in Spring Hill.  Here’s why:

http://www.tennessean.com/article/20110105/WILLIAMSON12/101050327/2044/A+look+ahead++Big+projects+on+horizon+for+Spring+Hill+in+2011

With brand new homes from the low 100’s for the first-time buyer in Cobblestone and Meadowbrook and brand new all-brick homes from the low 200’s in Chapman’s Crossing and Benevento East , look no further than Ole South for your best value.  You will then see first hand why…..

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: “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

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.