Category Archives: Renting vs. Owning

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.

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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: Blessed are the “Risk-Takers”

Have you ever noticed just how obsessed some people are on making life decisions based on what is guaranteed?  Very seldom is there reward without risk, and reward is never guaranteed.

Face it, we all love guarantees.  Guaranteed income.  Guaranteed performance.  Guaranteed success.  Guaranteed results.  Guaranteed home values?  

In real life, there are no real guarantees.  There are no defined patterns on which to base a guarantee.  Staying put in our “comfort zone” could turn out to be more risk than the alternatives.  Be the risk-taker!

Let’s look at home-ownership.  The print media in this country is having a field day saying “The American Dream” of home ownership is “The American Nightmare.”  Even funnier, many people actually believe what those idiots print!   Now that most have stopped reading print media, they now place their gloomy garbage online.

Every day, I hear people say “I’m not going to buy until ‘things’ get better…”  What “things?”  Do you have a steady job?  Can you pay your bills?  Are you planning to stay in the area for a while?   If you answered “YES” to those questions, then you need to act now before the rules change again and take you out of the game!    Be the risk-taker….and get a historically low fixed-rate mortgage payment to boot…..guaranteed!   If you don’t take the risk, how will you ever know when “things” are better?  You damn sure won’t read about it.

Think interest rates will get even lower?  Considering that the current Federal Reserve Rate is ZERO, how can they go much lower?  And even if they do, you can count on inflation to offset any perceived savings.  The lower rates are, the tighter lending criteria will get too.   Be the risk-taker!

Think home prices will fall?  In some areas of the country, they might.  No one can guarantee your home’s future value, but the one guarantee is that YOU will one day own it! 

Assuming you have a good job and want to stay in the area, the only reason I can think of NOT to buy a home would be if your world-travelling parents have a palatial estate complete with a guest house, which they have given to you as long as you want to live there – at no cost of any kind, not even yard work.   Another possible exception would be if Sandra Bullock wants you to be her “roomie.”

Regardless of what property values do, you are better off owning your home than renting it.  Rents rise.  Leases not always renew.  Every day you continue to rent is an added day that you will pay for your home, if and when you do buy.  Thirty years may seem like an eternity, but it goes by really fast.  After 30 years of renting, you own nothing.  After 30 years of owning a home, you own the home out right… unless you borrowed money against your equity.  I’ve never heard of an “apartment equity loan” either. 

That said, how old do you want to be when your home is paid for?   Could it be that being a risk-taker is not really a risk at all?

The Greater Nashville area is loaded with new homes for every need and lifestyle.  At Ole South (www.OleSouth.com) you will find new homes from 99,000 to 299,000 in a variety of desirable neighborhoods – in Nashville,  Smyrna, Murfreesboro, and Spring Hill.  You can be assured you will receive the very best new home value – not just in price, but quality and service too!

Please contact me anytime I can be of assistance in any way!  615.593.6340 or 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.