Nashville New Homes: Nashville’s got a lot to be proud of.

Nashville’s economy is among the most diversified in the country, a pretty good reason why Nashville is weathering the recession better than many cities.

Let’s take a look at a few of the various industries that have a major impact on our economy.  There’s Printing & Publishing, Health Care, Music & Entertainment, Tourism, Technology, Higher Education, Commercial Shipping Logistics by rail, river, and road, and Automobile Manufacturing, just to name a few.

There is another growing category that should make us proud.  Nashville is the home of one of the top ten talk radio hosts in the country, Dave Ramsey.  His new book, EntreLeadership, is already at the top of The New York Times best-selling list, a first for any of Ramsey’s publications! 

Yesterday, at Financial Peace Plaza, across from Cool Springs Mall, the Dave Ramsey organization rolled out the red carpet for listeners and supporters.  Everyone was invited for free food, drink, and games.  Those attending also got to see Michael Delgiorno boradcasting live, along with The Dave Ramsey Show, after which, Dave personally signed every book.   Here are scenes from the day:

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About the book, Dave Ramsey defines ”EntreLeadership” as how to effectively combine the aspects of being an entrpreneur and being an effective leader into being both at one time.   http://www.entreleadership.com/home/

The book is great reading, and I would have finished the whole thing last night if Ruby would have left me alone!  She wanted to see each page also.

 With Ruby’s permission, I will try and finish the rest of this book tonight!  Get your copy 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, Clarksville, and Spring Hill, Tennessee.

Nashville New Homes: The “Short Sale” can of worms.

I was showing one of our brand new Ole South homes this week to a first-time home buyer.  They loved the home and all of its many features, especially the fact that everything was NEW and under warranty too.

They had learned through others that new homes offered the best value for the money, and that in most cases, a new home could be purchased for the same price, or even less, than an older resale home comparable in size and features.  They had looked at other resales, and told me everything that was important to them, even the price range.  Well guess what?  We have the perfect home nearing completion!

This particular home was $169,990, complete with all appliances and closing costs paid.  Using THDA’s Great Start program for first-time homebuyers, their monthly payment, yes PITI, would be approximately $1153 with zero cash out of pocket at closing.  If they chose to place their own down-payment of approximately $5950, their monthly payment would drop to approximately $1076. 

They really liked the -0- down option, but developed a perplexing look on their faces.  They really wanted a NEW home, but there was another home, similar in size, just 2 miles away they had seen online.  It was listed for $84,900.  It was a “short sale.”

They asked, “Just what does that mean?”   I explained the basic process where the bank would hopefully agree to allow the current owner to sell the home for less than the bank was owed on the property.  “You mean to say the bank is going to let them sell that home for 84,900?”  No, not necessarily.  “Then why is it listed for that price?”

Great question.  And we Realtors know the answer.  It is just like fishing.  We know the list price is just to attract a prospect, who will then be encouraged to make an offer, which the bank, at some unknown point in time, will accept or counter.  We all know that in most cases, the bank will not approve a listing price on a pre-foreclosure home until an offer of some kind is on the table.  The general public does NOT know that.

So, in the meantime, those shopping for homes receive a unrealistic picture of home values.  Neighborhoods suffer.  Those trying to sell their homes without financial difficulty suffer.  Zillow’s “z-estimates” seem to pick up on the suffering too, lowering those home values that are automatically calculated.  People believe those values because they saw it on “the internet.”

Okay, let’s go ahead and open the can of worms.

 The “short sale” can be a great alternative to foreclosure and I know many Realtors that are very successful negotiating the sale of homes in this situation.  It can be a win-win situation for all involved, but only if extraordinary levels of patience can be applied.

Let’s be serious.  Wouldn’t our whole real estate economy be better off if a property could not be listed at an arbitrary price that is basically pulled out of the sky?  

Many will disagree, but ANY home listed for sale on our MLS should be able to be purchased at the price listed.  Period. 

Why can’t our MLS require all short sales to be classified a separate way without a list price, followed by the instructions?   Or, if a price has to be present, enter $1.00.  At least that way, the playing field is more level.  I know there are data fields already for short sale notations, but that still leaves the “pie-in-the-sky” listing price.  Simply put, it is “bait and switch.”  

Again, there are many great Realtors that specialize in “short sales.”  If you would like a recommendation, please feel free to contact me anytime.

Bad things happen to good people all the time.  If you know anyone that has suffered a 30% drop in income or more, that may need assistance in avoiding a foreclosure or short sale, don’t forget about THDA’s newest program, www.keepmytnhome.org.

And always remember, better times are ahead.

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.

Which direction is “Our True North?”

Today I received this from a great friend, Harry Brittan.  It is fitting for everyone, everywhere.  Enjoy, and thanks for sharing Harry! 

Our True North
 
We each have a unique personal significance, a significance which can make the difference as to whether or not we can find our true purpose in life.   Our first step in finding this purpose is the be able to answer these questions:
 
1.  What need do I sense (in my family, in my community, in the organization I work for)?
 
2.  Do I possess a true talent that, if disciplined and properly applied, can meet the need?
 
3.  Does the opportunity to meet the need tap into my passion?
 
4.  Does my conscience inspire me to take action and become involved?
 
If you can answer all four questions in the affirmative and make a habit of developing a plan of action and going to work on it, you will begin to find your true purpose, your True North, in life.  This will be a life of deep meaning, satisfaction and greatness. 
 
When we begin to identify the need, our conscience will inspire us to take action.  Our talent must match the need, or be developed in order to match it.  We must be disciplined in order to ensure our passion, our joy of doing that which we like, in order to achieve the goal.  All of these, the need, the talent, passion, and conscience, must all be aligned and balanced in order to be successful.
 
This is hard doctrine.  Finding our True North is difficult.  Staying on course is extremely hard.  I contend less than 1% ever find their True North.
 
Harry Brittan
CONNECTIONS

The aftermath of September 11th. Who will win?

Just ten years ago yesterday, Osama Bin Laden & company perpetrated the single largest attack ever on American soil.  They targeted the heart of our financial centers, and the heart of our military command.   Their plan was to bankrupt America and watch us tear ourselves apart from within.

Everyone remembers what they were doing on the morning of 9/11/2001.  I was having a morning cup of coffee when the news broke out on the TV.  Then my phone rang.  It was by Broker/Sales Manager/Mentor, Sandi Sharpe.

Over the years, Sandi acquired many friends through working with international college students.  She was their family away from home.  She was “Mom” to many.   One family, from Uzbekistan, bought a new Ole South home and became extended family to all of us.

The grandmother of this family had spent the summer in Nashville to help her grandchildren get properly settled in their new home.  She knew no English whatsoever, but was very easy to communicate with.  After all, a smile means the same thing in every language.  All of us loved her, and her family, dearly.

She was returning home to Uzbekistan on September 11th on the first flight to New York from Nashville.  She was armed with basic signs that Sandi made to hold up when she arrived in NYC.  With her smile, and those signs, she would never be lost…. well, as long as the plane landed in NYC.

But it didn’t.  The flight was routed to Raleigh, NC.  She did not understand any of the announcements, and only had her signs, which were useless in Raleigh.  The airline personnel at the gate calmed her and checked her in a nearby hotel, but none of us knew that yet.  Sandi was on the phone many hours before we knew the situation and that she was safe.  In the meantime, she is in a strange location, in a hotel room, knowing only what pictures were shown on TV.

The grandson was loading up for a drive to Raleigh, which probably was not the safest thing for an olive-skin immigrant, with a name too long to pronounce, to be doing that day.  Rumors of fuel shortages and curfews abound.  There was nothing else to do but go with him to Raleigh. 

Long story short, I will never forget the look on the grandmother’s face when she opened the hotel door and saw us standing there.  She was in tears pointing at the TV.  She had been terrified not knowing where she was, or why she was there.  That fear turned to joy and relief as we loaded her things into the car and headed back to Nashville! 

That day, America pulled together.  Democrats and Republicans joined together without unnecessary drama and rallied around our President.  America would prevail.

At least for a while.  Then we would eventually forget. 

Remember, the intention of Osama Bin Bastard and Company was to bankrupt our country and watch us destroy ourselves from within.  They did not have a specific time frame in mind. 

Fast-Forward 10 years to today and look around.  What do you see?  Democrats and Republicans constantly battling each other, our financial system struggling, and very few have respect for the Office of President of the United States, regardless of who has held it. 

Regardless of your political preference, now is the time to encourage elected officials to put politics aside and pull this country together.   This country has the resolve to fix our problems and its not supposed to be about “who will get the credit or blame.”   We don’t elect people to find blame, we elect people to find solutions… or at least that is supposed to be the plan.

It is our obligation not to forget what happened to our country on September 11th.  It is also our obligation to remember the sacrifices of countless people, that day, and every day since.  If we choose not to remember, Osama Bin Bastard wins.  We will be bankrupt and will have destroyed our country from within.

Murfreesboro, Tennessee has a 9/11 Memorial that will help all of us remember.  We need to go see it.  Often.  

 http://www.murfreesboropost.com/sheriffs-office-debuts-9-11-memorial-design-cms-27916

The steel beam, salvaged from the World Trade Center, is shown below, in its present and future surroundings:

You know, we are having tough times in this country right now.  But until you see people wading off of Miami Beach preparing to swim to Cuba, there’s still time to get it right.

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: Just what is Labor Day?

The first Monday in September has always been designated Labor Day.  Well not always, but officially since 1894 when President Grover Cleveland declared the holiday.  Read more details of what brought this holiday about:  

http://www.ibtimes.com/articles/207792/20110902/labor-day-2011-history-origins-holiday-labor-union-workers-strike-railroad-protest-military-canada-n.htm

And if you don’t like to read, here is a video on the origins of this holiday.

Now you know the history.  Now it is time to celebrate! 

What are your plans for this last holiday weekend of summer?

Why not use Saturday and Sunday to explore purchasing a new Ole South home?  We’ve got a new home to meet your needs in Nashville, Smyrna, Murfreesboro, Spring Hill, and Clarksville.  You can see all of our Middle Tennessee new home neighborhoods online at www.OleSouth.com.

 

After you’ve found the perfect new home for your needs, why not venture out to Old Hickory Lake for a relaxing meal at Nashville’s only floating restaurant and bar, The Black Pearl at Blackjack Cove Marina.  www.blackjackcove.com

Labor Day is the last official holiday between now and Thanksgiving.  Get out there and enjoy it!  Enjoy it even more in your new Ole South home!

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: A unique cultural experience.

It really is fun to laugh, and I am still laughing from a show we attended last night at the Station Inn, located in “The Gulch.”   We ventured out to celebrate THDA lowering their “already-low” interest rates on first time buyer programs.  (Not really, we had made the reservations last month)

The Station Inn was there long before “The Gulch” was, and the small stone nightclub it is still packing in the crowds.  http://www.stationinn.com/ 

It was the “Doyle & Debbie” show that had all of us in stitches.  Regardless of how tight you are wound, or how politically correct you may be, this is a show that you will want to see..again and again.

 The 90 minute show starts at 7:00 pm, only on Tuesdays in Nashville, but Doyle & Debbie will also be performing in Chicago starting in October.  Check out their website and be sure to join them on facebook too!

http://doyleanddebbie.com/

I can’t help but borrow a few of their song clips from the folks at you-tube.  Check out “Blue Stretch Pants”

And the show also takes a patriotic turn too:

Do yourself a favor.  Pick a Tuesday night in the future and make reservations for an evening of fun, pizza, popcorn, and cold beer.  You’ll be glad you did.

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: Even lower mortgage interest rates? Coming soon.

That’s right.  Even lower interest rates are on the horizon for first-time home buyers, thanks to the folks at Tennessee Housing Development Agency (THDA).  Visit their website, www.THDA.org for more information.

Here are the new program rates that go into effect September 1, 2011 for all files submitted ON OR AFTER that date:

Great Rate – 3.95%       For the first-time buyer that has their own down-payment funds and closing costs, if not paid by a seller.  Perfect for those with front and/or back ratios below 45%.  

Great Advantage – 4.25%     Buyer receives a 2% grant that may be used toward down-payment, or closing costs if not being paid by seller    

Great Start – 4.55%     Buyer receives a 4% grant that may be used toward downpayment, admin fees, and closing costs if not paid by seller.

Remember!  When you purchase a new home from Ole South in Nashville, Smyrna, Murfreesboro, or Spring Hill, and use Ole South Financial (our SunTrustMortgage Joint Venture), ALL CLOSING COSTS are paid!  (note:  certain conventional loans limit seller contributions to 3%)

YES!       A first time buyer can purchase a brand new Ole South home with ZERO CASH DOWN AT CLOSING and receive a 4.55% fixed interest rate 30-year FHA loan.   Find yours at www.OleSouth.com

NOW – an unprecedented time to take advantage of unprecedented opportunities.

 

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: It’s brand new and everybody has it.

As I returned from church today, there was a neat message posted at the Harding Place exit ramp of Interstate 65.  It said:

“Brand New Day – Not Used.”

A vendor for “The Contributor” newspaper was standing close by.  He was not begging, nor harassing, nor intimidating.  He was just there with a smile.

  For those that do not know, “The Contributor” is a monthly publication of varying perspectives on homelessness and its many issues.  www.thecontributor.org

The vendors most likely are homeless, and they sell these newspapers all over town.  They pay 25 cents for each paper and sell it for $1.00, or whatever donation is given.  Whatever profit they make is theirs.  If you haven’t bought a copy of “The Contributor” lately, please do.  There is great information inside.  And the best part, you are looking directly at the face your purchase helps.

Each day, there are messages all around us.  We never know where the message will come from, or who will deliver it.  I am glad I saw this one today!  How are you going to use your new day?

 

 

Nashville New Homes: Changing the rules…another great reason to buy now.

Perhaps the best reason to buy a new home in Nashville now is “the rules” and furthermore, knowing that the rules are going to change.

For example, on October 1, 2011, if passed by Congress, FHA loan limits will decrease in 669 counties across the nation.  These 13 Tennessee counties will be affected by the new limits:

Cannon, Cheathan, Davidson, Dickson, Hickman, Macon, Robertson, Rutherford, Smith, Sumner, Trousdale, Williamson, and Wilson.

Currently, a home buyer can acquire an FHA loan up to $432,500.  After October 1, 2011, the proposed limit will be $393,300.  Those wishing to use FHA financing on loans up to $432,500 need to act now!

http://government-mortgages.com/fha/fha-loan-limit-decreases.html

For those looking to purchase a new Ole South home in the immediate future, these changes will have no effect.  Other than with our custom built homes, our most elegant offerings are far below these proposed limits, even though they compare very favorably to homes in the 400’s.   You’ll have to see it for yourself to believe it!  www.OleSouth.com

So, if this change will not affect Ole South directly, why my great concern?

The moral of the story?  All rules and lending criteria are subject to change at any time.   

Purchase a new Ole South home using an FHA loan through Ole South Financial, and Ole South pays all of your closing costs.  There are proposals out there to restrict the amount of closing costs a seller can pay, meaning YOU will pay the difference out of pocket.  Things can change.  Act now.

Currently FHA loans require a 3.5% down payment, which can also be funded by THDA for eligible first-time buyers using the “Great Start” program.   There have been numerous proposals floating around to raise the down payment requirement.   Things can change.  Act now.

According to many experts nationwide, home affordability is at a peak.  Especially in Nashville.  Now truly is the time to buy a new home, before the rules that we know change 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: Re-define the school year. Your voice could count!

Let’s face it.  Decisions that affect everyone are made by a chosen few.   Yes, the few that choose to vote.

Look at the August 4th election numbers for Davidson County.   Only 10.7 % of our population voted.  Worse than that, less than 20 % of registered voters took the time to vote that day.

Another vote will take place with the Board of Metro Nashville Public Schools at 5:00 pm on Tuesday, August 23rd.  Up for board vote is the school year calendar.

I have mixed emotions over the school-schedule opportunities facing Metro Nashville Public Schools.  With no kids in school now, we really don’t have a dog in this fight, but I know whatever is decided will cause an uproar to many.  Now is the chance to get involved.

The choice is between the “Traditional Calendar” and a new revised “Balanced Calendar.”  Here are definitions, from the Metro Nashville Public School website:

http://www.mnps.org/Page82079.aspx

When I attended Metro Schools, school was out for the summer on or before Memorial Day weekend and we returned to school after Labor Day weekend.  It was easy to plan family vacations.  It was easy to secure summer employment, especially for seasonal businesses.  On occasion, the scheduled last day of school would change, depending on whether or not we under/over used the amount of planned snow days.  Global warming wasn’t even a subject back then, but those classrooms sure were hot without air-conditioning!

I can see many advantages to both calendars.  Three months away from a school environment can erase progress made in the prior school year.  But on the flip, three months of summertime employment might help feed a family that might otherwise be hungry.  A tough decision.  And one that everyone CAN be involved in.

A recent phone survey was conducted among those persons involved or affected and the results were released today:

http://ftpcontent.worldnow.com/wsmv/MNPSsurvey.pdf

Proponents of the new “balanced calendar” project an increase in operating schools from the now 173 days to 180 of $20 million annually.   That is a lot of money.  But on the other hand, we have to try something to increase the performance and quality of our public schools. 

What can you do?  Let your school board members know your preference.  Here are the current board members who will be deciding this issue:

http://www.mnps.org/Page57227.aspx

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