Nashville New Homes: Need more reasons to buy now? You’ve got em!

If you’ve been waiting for the planets to become perfectly lined up before buying your first home, wait no longer!

Buying your first home is a big decision, and if you haven’t thought much about it, you need to start now. According to HUD, home prices have stabilized and will start rising.

Nashville New Homes: It all starts with affordable housing.

Jul11

It came as no surprise to anyone familiar with Fourth of July celebrations in Nashville for 2011’s “Let Freedom Sing” to be ranked in the top fifteen national celebrations. From aol.com: http://news.travel.aol.com/2011/06/28/july-4th-fireworks-15-of-the-biggest-shows-in-america-ranked-p/

And while the fireworks went BOOM, Forbes was busy compiling its list of 2011 Boom Towns! And Nashville is #3 on the list:

http://blogs.forbes.com/joelkotkin/2011/07/06/the-next-big-boom-towns-in-the-u-s/

Nashville is on a roll with Forbes, ranking #6 in the country for business and careers http://www.forbes.com/2011/06/27/best-places-11-top-50_slide_7.html and #4 on the list of best places to retire: http://www.forbes.com/2011/03/23/best-retirement-places-cities-living-costs-doctors-crime_slide_11.html

And late last year, Nashville was ranked as the 4th best college town in America! http://www.insidevandy.com/drupal/node/14645

All of these rankings are a benefit of affordable housing. Plain and simple.

Without affordable housing, all of these encouraging rankings would disappear quicker than France surrendered to Germany in 1940!

The Nashville area is committed to providing affordable housing, and there is no better place to learn more than this Sunday at the 4th annual Mayor’s Homeownership Fair at Bridgestone Arena. Here is the schedule for the day’s activities: http://www.nashville.gov/housingfair/schedule.asp

No home builder is more committed to providing affordable brand new homes in the Greater Nashville area than Ole South, and we’ll be at the Mayor’s Homeownership Fair also!

In our 26th year, we remain committed to providing the very best new home values in every one of our neighborhoods. Find our more at the 2011 Mayor’s Homeownership Fair, or by visiting our website, www.OleSouth.com.

Nashville New Homes: Bad economic news?….Another great opportunity for Tennessee!

Jun22

Every time you turn on the national news, or read a national headline, there is negative news about the economy, specifically the housing market. Many prospective buyers hear this news loud and clear, and sustain their “wait it out” philosophy. Why?

Because no one else is talking! I saw a great facebook post this week of a quote by Anthony J. D’Angelo, “If you have time to whine and complain about something, then you have time to do something about it.”

Yes we do! It is our responsibility as Realtors to communicate the positive to everyone, not just those already searching for a new home, but those that should be. Let’s start now:

Right now, low interest rates are resulting from a lackluster national economy. Every day the overall economic news leans toward “bad” is one more day that a home buyer can take advantage of unfathomable interest rates.

From the Wall Street Journal….”Based on incomes, this is as affordable as it gets,” said Mark Zandi, chief economist at Moody’s Analytics. “If you can get a loan, these are pretty good times to buy.”

It truly is a great time to buy. Not just because of low interest rates, but because of the programs that are available. In this world, especially in this Congress, loan procedures are always subject to change. Here is one potential change looming on the horizon that we have the opportunity to do something about:

https://realtorparty.realtoractioncenter.com/site/Advocacy?cmd=display&page=UserAction&id=1653

There are areas of the country that are suffering in this economy. But others are striving, and those areas are attracting jobs and economic activity much like a magnet. We are blessed that Tennessee is one of these areas!

http://www.bizjournals.com/nashville/news/2011/06/13/tennessee-no-6-for-2010-economic-growth.html

The Clarksville/Ft.Campbell area is a magnet all by itself, bringing industry that is thinking outside the box in attracting workers. Check out a unique approach from Hemlock Semiconductor:

Click here to learn more about Hemlock’s opportunities: http://www.clarksvillenow.com/pages/10125186.php?

And less than 50 miles away, Nashville just keeps on retaining and creating job opportunities, as reported in the Nashville Business Journal:

http://www.bizjournals.com/nashville/news/2011/06/14/employment-outlook-in-nashville-among.html

And there is even more encouragement for young adults to begin their careers in Nashville, creating many potential “first-time buyers.”

http://www.bizjournals.com/nashville/news/2011/06/20/nashville-a-top-city-for-young-adults.html

Education in Middle Tennessee is also in the national spotlight! Four Middle Tennessee High Schools are ranked among the top 500 in the nation. Below are the Tennessee schools on the list and their nationwide ranking:

Hume-Fogg Academic High School of Nashville, #33

Brentwood High School, #100

Ravenwood High School of Frranklin, #284

Page High School of Franklin, #494

The above facts are just a few examples of evidence that “Tennessee is happening” and attracting more attention and activity, just like that magnet! When you plan an evening on the town, you more than likely select a place that you have heard great things about, right? Businesses and relocating families are the same way.

Tennesseans, let’s join forces and get the word out on the economy in our great state!

When you are searching for a new home, you will hopefully consider one home builder that has been providing the area’s best new home values for over 25 years:

http://www.bizjournals.com/nashville/feature/ResBuilders-061711-1.html

We at Ole South appreciate everyone’s support and continue to be optimistic about life in the Great State of Tennessee. We invite everyone to visit our model homes and neighborhoods, as well as our website, www.OleSouth.com, to discover why thousands of homeowners are proud to say:

Nashville New Homes: Mortgage Payment Relief Program in Tennessee

Jun11

What is the difference between a recession and a depression?

A recession is when a friend or neighbor loses their job. A depression is when you lose yours. Job losses have affected many, with positions either eliminated, or full time hours scaled back to part time. In either situation, through no fault of their own, many families have difficult choices to make.

Tennessee is one of few states that received money, $217,315,593.00 from the US Treasury’s Hardest Hit Fund (HHF). In January of this year, the Tennessee Housing Development Agency (THDA) announced a program to help unemployed and under-employed homeowners meet their mortgage obligations in Tennessee’s hardest hit, or “targeted” counties. Click here for a list of these “targeted” counties: https://www.keepmytnhome.org/ppc.html

Now, this 7-year program has now been expanded and is available in ALL Tennessee counties. Here is a synopsis of the program from the THDA website www.keepmytnhome.org.

*****

Homeowners who qualify for financial assistance may receive up to 18 months of monthly mortgage payments and/or funds to pay past due mortgage payments to bring the mortgage current; these funds are paid directly to the loan servicer/lender.

To qualify for the Keep My Tennessee Home program, a homeowner must meet the following eligibility requirements:

Be unemployed or underemployed (a 50% reduction of income) through no fault of their own. The event or incident which results in unemployment or substantial underemployment must have occurred after Jan. 1, 2008.

*** THIS has now ben changed to a 30% reduction. ***

Have a mortgage for a single-family home or condominium (attached or detached) in Tennessee that they occupy as their primary residence. This includes manufactured homes on foundations permanently affixed to real estate that they own.
Have a history of timely mortgage payments prior to the job loss/reduction of income.
The combined amount of your mortgage principal, interest, taxes and insurance must be greater than 31% of your household income after the job loss/reduction of income.
Not have more than six months’ reserves of liquid assets, that is, liquid assets equal to six months of their mortgage principal, interest, taxes and insurance.
Have a household income less than $74,980.
Have a total unpaid principal balance not exceeding $226,100.

Above are the basic eligibility criteria. Meeting these criteria does not guarantee eligibility for the Keep My Tennessee Home program.

*****

In Tennessee’s “targeted” counties, homeowners can receive funds up to 18-months, up to a total of $20,000. In all other counties, homewoners can receive 12 months of assistance, up to a total of $15,000. Once eligibility is approved, funds are sent direct from THDA to the servicing lender and can be for delinquent payments, current, and future payments as they become due.

The assistance funds are basically a loan, set up as a “line of credit” to be used as long as the hardship circumstances continue, up to the end of the eligibility period. The loan is then forgiven over 5 years, 20% each year, as long as the family keeps the home as their primary residence.

Another great feature of this program is that you do not have to be delinquent on your mortgage payment to be eligible. As long as your financials fit the guidelines, you are eligible for the assistance loan.

For more information, please visit www.keepmytnhome.org. For more information on THDA and its many valuable programs, please visit www.thda.org.

Even in tough economic times, Tennessee is still the best place in the world to live. Come join us.

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

Jun7

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:

Nashville New Homes: “Yes” Days of Summer – Week #1

Jun5

For all of us at Ole South, this week was the official start of summer. It was for all of the thermometers in the Nashville area also!

The “Yes Days of Summer” are officially underway and we will host numerous events throughout the summer for our residents, Realtors, and prospective home buyers. Join Ole South on Facebook for breaking news of future events. www.facebook.com/olesouthproperties.

We selected our Preserve at Old Hickory / Old Hickory Commons neighborhood to kick-off this years celebrations. The residents there had organized a neighborhood yard sale for Saturday, and this weekend was Nationwide Open House Weekend too.

My day started at Kroger at 7:00 am Saturday, purchasing the food and drink for the event. I hate shopping and I always forget something. My rationale for waiting until Saturday morning was that it would be cooler. It wasn’t.

Shopping finally complete and arrived at Preserve at Old Hickory, where Grand Central Party was waiting to unload and set-up. If you ever plan an event, you owe it to yourself to check this place out. They have everything for rent, and it is very affordable. Not only that, they make it all so easy. http://www.grandcentralparty.com/

After everything was set up and organized, we fired the grills in the blistering heat. I then told Wanda Comer, the beloved on-site manager at Preserve, to “shoot me” if I ever agreed to do this again when it was this hot. She won’t. And I am certain we’ll do it again, real soon…. because days like this really are fun! Here, take a look….

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Unlike “general” Real Estate, the best part of building and selling new homes is that we have the opportunity for continued involvment with our home buyers in shaping their community. We see marriages, we see children grow up, and we have an opportunity, and responsibility to become involved in the community to make a difference in the quality of life experience. Most of all, we make friends.

Wanda Comer takes these opportunities to make a difference and that is obvious by the admiration, love and respect her residents have for her. Here is Wanda, presenting the $100 Gift Card drawing to resident Ashanti Chunn, who just happened to be out the door on the way to the store when Wanda called!

Wanda is not the only one making a difference in the Preserve. John Donlon and Annette Spicer manage the adjoining Old Hickory Commons neighborhood of maintenance-free townhomes and were on hand all day as well. Chuck Reed, our Managing Broker, hovered over the grill to make certain all had plenty to eat. He also made some tasty snow cones. Thanks also to our construction staff for making sure the grounds were in order and everything we needed to work with was on-hand.

However, the ones that make the biggest difference are the residents of these two communities! They are very active in the HOA, have formed “Neighborhood Watch” groups, and are taking great pride in the future of their neighborhood.

We also had a visit from District 32 Councilman, Sam Coleman. Sam has been a great friend to this community, as well as our entire city. He has served two successful terms as District Councilman and will be running for Council-at-Large in the upcoming August election. Sam is worthy of our support and will have my vote for sure.

This was a fun week and a great start to the “Yes Days of Summer!” Earlier in the week, we hosted Gary Ashton & The Ashton Real Estate Group (TAREG) of Re/Max Elite (http://www.nashvillesmls.com/) for an afternoon on Old Hickory Lake followed by evening dinner at The Black Pearl Restaurant. www.blackjackcove.com

Especially these days, no one is working harder than Realtors, but we all have to play every once in a while! The saying about “all work and no play” needs to be revised to “all work and no play makes Jack a miserable person.” A great time was had by all!

Here’s to the 2011 Yes Days of Summer!

Nashville New Homes: The “Dog Days of Summer”

Jun1

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!

Nashville New Homes: Light up the grill. It’s Memorial Day weekend!

May28

Monday is Memorial Day, a day for many that includes a celebration of hot dogs, hamburgers, barbecue, chicken, and bsaically anything that can be cooked on a grill. It is also the holiday weekend that signals that summer has arrived!

But it is a lot more than that also. Memorial Day, a day of remembrance for those that have died serving our country, was originally called “Decoration Day.” It was first observed on May 30, 1868 when the graves of fallen Union and Confederate soldiers were decorated with flowers at Arlington National Cemetery. It was not until after World War I that the day became “Memorial Day” to honor the fallen soldiers of any war. In 1971, Congress passed the bill proclaiming the last Monday in May as the official recognized “Memorial Day.”

Here is a link to the history of this all-important day:

http://www.usmemorialday.org/backgrnd.html

There are a number of ideas that come to mind on what to do this weekend. Here are just a few:

http://nashville.about.com/od/nashvilleseasonalevents/a/memorialdaycele.htm

And there’s more! Why not visit Blackjack Cove Marina, where you can enjoy a BBQ plate from 11:00-2:00ish Saturday & Sunday overlooking Old Hickory Lake. www.blackjackcove.com If you cannot make it during that time, the Black Pearl is open all weekend and you will not want to miss it’s awesome Sunday Brunch, a great atmosphere accompanied by steel drums.

Although our model homes at Ole South will be closed in observation of Memorial Day, we are open on both Saturday and Sunday, and anytime by appointment. Drop by for a cold drink and cookie and find out for yourself that….

So get out there, fire up the grills and ice cream churns, slice some watermelon, and enjoy this weekend. But please, take a few minutes for remembrance and tribute of those who died protecting these very things we enjoy. And if you get a chance, thank a living soldier or veteran too!

Nashville New Homes: Lets bring on summer.

May19

In spite of the cooler weather, many Realtors, Home Builders, and Trade Vendors were on hand for the HBAMT Sales & Marketing Council social mixer at The Governors Club this past Tuesday evening! It was great to see many friends and even better to meet new ones. Fun and Networking were the key words of the day. The time went by so fast, I didn’t even get a chance to snap pictures. Guess you should have been there!

Speaking of the weather, this weekend is shaping up to be great for searching for your new home! If you have no clue where to start, visit www.OleSouth.com for the location nearest you! Visit any model home and you will receive a Flat Screen TV if you purchase before June 11, 2011. Also on the website, you will find an “internet-only” coupon for a Stainless Steel Appliance Package on certain inventory homes.

After you have found the perfect new Ole South home, you will not want to miss the GoodGuys Car Show at LP Field this weekend. Here is a link to the details:

http://www.go2.com/content/nashville-tn/local-events-c/event_181172265_go2z/goodguys-6th-bridgestone-nashville-nationals-car-s

And this weekend will be a first for us for taking Ruby on an overnight boat trip to downtown. She is already excited. I wish she would stop growing soon. On this trip, we’ll see first hand what has taken place since the flood of last May. Stay tuned.

Its time for all of us to welcome summer, even if the weather makes us pretend!

Nashville New Homes: Attention Realtors: “Thou shalt have free food and fun”

May16

Let’s face it, the economic times of the past several years has taught us (forced us is more like it) to realize that we can get by on less. Less business, less money, and sadly…less fun.

But for those that will pull their head out of the sand, there is still a lot of fun to be had… and a lot of it involves complimentary food and spirits too! There is absolutely no excuse for being bored or hungry in the Real Estate business.

MARK YOUR CALENDARS!

This Tuesday, May 17th, all Realtors, Home Builders, and Trade Vendors are invited to a poolside mixer at the Governors Club. The event is from 4:00 – 7:00 pm and will feature complimentary beer, wine, and appetizers. (A cash bar will be on hand for those that cannot compromise their distinguished tastes.) Here is a link to all you need to know about this exciting evening event:

http://www.hbamt.net/smc-mixer-0511.htm

Many thanks to Christina Cunningham and The Governors Club for hosting this fun evening!

Membership in The Sales & Marketing Council of the HBAMT is not limited to Home Builders and their on-site agents. It is open to all Realtors whose firms are members of the association. The SMC’s monthly meetings are great networking events where you will learn more about exciting topics, as well as enjoy complimentary breakfast. Want to know more? Drop by the Governor’s Club on Tuesday, contact any SMC member, or give me a call at 615.593.6340.

Summer is right around the corner and you can also be assured Ole South will host many events worthy of attending. Our first “Yes Days of Summer Celebration” for 2011 will be held at our Preserve at Old Hickory neighborhood on Saturday, June 4th.

Enjoy food, refreshments, games, waterslide, and prizes while you see first hand the exciting new homes that Ole South has to offer! There will even be a community-wide yard sale. Mark your calendars and watch the Ole South Facebook page for more updates and events. www.facebook.com/olesouthproperties.

In the meantime, take a closer look at all the emails you receive from the many different Realtors, builders, and their organizations. There are a multitude of great networking events happening each week. Any one of them could change your business plan for the better! And nothing beats free food, drink, and fun!

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Tag Archives: Ole South

Nashville New Homes: Need more reasons to buy now? You’ve got em!

Nashville New Homes: It all starts with affordable housing.

Nashville New Homes: Bad economic news?….Another great opportunity for Tennessee!

Nashville New Homes: Mortgage Payment Relief Program in Tennessee

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

Nashville New Homes: “Yes” Days of Summer – Week #1

Nashville New Homes: The “Dog Days of Summer”

Nashville New Homes: Light up the grill. It’s Memorial Day weekend!

Nashville New Homes: Lets bring on summer.

Nashville New Homes: Attention Realtors: “Thou shalt have free food and fun”

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