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Monday, 04 March 2013
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You can’t qualify if you don’t apply:

As the saying goes, knowledge is power.  In the Brentwood Tennessee real-estate market like many other markets today, knowing if you qualify is half the battle. Because of the market bust in 2008, so many couples out there are gun shy about even speaking with a mortgage lender because of all the negative media surrounding the lending process, and denial rates.  It’s hard to imagine that you’re a good candidate when you are bombarded with daily news reports of how the market is still struggling, and how restrictive the new guidelines are for qualifications. The news makes it seem as though you need a million dollars in savings, and a credit score of 900! Yes, the new guidelines are tighter, but for those who are ready; it’s the perfect time and rates will not stay this low forever. Not only does lower interest rate allow you to potentially afford more, but it also allows for the option to pay the debt off sooner. The scenario below shows an example of a 15 year fixed rate mortgage. An investment in a home, paid off in 15 years was hardly possible with interest rates 10 years ago. Nathan Watson from Regions Bank Franklin, TN spoke about this scenario.

“Look at what a difference a 3.125% fixed rate makes – $300,000 today cost what $200,000 cost 6 years ago. A 15 year term today cost what clients paid for a 30 year as recently as 2007. “

$100,000 15 year is $697 (plus escrow)

$250,000 15 year is $1,742 (plus escrow)

$400,000 15 year fixed is $2,787 (plus escrow)

There is good news out there though… in a sea of negativity the bright spot is low interest rates.  If you have been living in the Brentwood, TN area, perhaps renting an apartment or a home and waiting for the market to improve, let me help guide you through this process. I have several lenders I work with that can steer you through the investigative process.  Knowing what you qualify for, and can afford makes the house search process much easier as a buyer.  Walking into a prospective property knowing the estimated mortgage payment makes for a confident buyer.  Also remember, just because you investigate the qualification process doesn’t mean you are required to purchase a home. It can provide perspective into whether or not you should save more or pay down more debt etc in order to qualify for the home you want. Also, knowing what’s lurking in your credit report that lenders are leery of can help ward off future denials.

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Posted on 03/04/2013 10:27 AM by Jarod Tanksley
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Sunday, 24 February 2013
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Don’t let that buyer drive away!  The importance of curb appeal…

Perspective buyers often get their first impression of your home from an online photo or driving through desirable neighborhoods. Not only here in Brentwood, TN; but also nationally, 90 percent of home buyers searched online during their home buying process, according to the National Association of Realtors. That means what they see on the outside is a large factor in whether or not they desire to see the inside. It affects the perceived value of your home and can drastically hurt your homes chances of being shown.  Don’t become complacent and think that buyers have the vision needed to see your house in its best light, if it needs major TLC. Also keep in mind that many of the people who say they would consider a fixer-upper quickly change their mind when real life estimates for repair are recognized.

Over the next few days we’ll take a look at the good, the bad and the ugly of curb appeal and what can be done on all budget levels.

Curb Appeal Do’s:

  • Wash your house – eliminate any mold or fungus growing on siding or trim.
  • Trim & windows – don’t leave peeling paint exposed. Scrape, sand and paint any trouble areas.
  • Gutter trouble- fallen gutters and weeds growing out shout, “lack of maintenance”!
  • Chimney & roofs – inspect to ensure there are no trouble spots with missing shingles, repair loose mortar in the bricks. If they are in serious disrepair it will give buyers more negotiating power.
  • Front door – does it need a little updating to a more modern look or a fresh coat of paint?
  •  Lighting – make sure all exterior lights work, replace bulbs and even consider add landscaping lighting to highlight flower beds, trees and architecture.
  • Mailbox – changing the mailbox from a deteriorated, wobbly, or faded box dramatically improves the appearance and can cost as little as $40 – $50.
  • Don’t forget the shed – it often becomes the drop off point for unwanted household and yard items and is crawling with bugs /pests. Clean it up, toss out the trash and show off to buyers what an asset it is to the property.
  • Outdoor Features- proper maintenance of pools and outdoor living spaces ease the buyer’s mind that they aren’t walking into a potential hidden repair nightmare.
  • Garage Doors – make sure they lift and close properly and have all maintenance done early and clean and repair any broken glass.
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Posted on 02/24/2013 10:29 AM by Jarod Tanksley
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PETS – If it smells, it won’t sell… We humans are very attached to our furry family members, but unfortunately not everyone shares
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