Tuesday, 28 March 2017
How does the changing Interest Rates affect Mortgage Rates
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 Mortgage interest rates have found a “new normal” since the Presidential election.  We had become accustomed to thirty-year fixed rate mortgages coming with rates in the “3’s” but since then we’ve settled into a new range, operating in the “4’s”.  With the Federal Reserve raising the Fed rate a third time in the past four months that has prospective homebuyers wondering if they’ll be stuck with rates in the “5’s”.

Predicting rates is difficult to do.  If I could make that sort of prediction I’d be on Wall Street or in Las Vegas rather than helping people with their mortgages.  The experts that I follow have forecast that while the Fed may not be done with their increases, mortgage interest rates are likely to stay in this range.  I would be surprised if rates moved much higher than where we are but I’d be even more surprised if we dropped down into the “3’s”.

That being said, let’s take a quick look at the impact of rate on your buying power.  A .5% increase in the 30-year interest rate adds almost $60 to your monthly payment on a $200,000 mortgage.  Another way to look at it is that a .5% increase in rate reduces buying power by $15,000.  From the seller’s perspective, an increase in rates can potentially disqualify prospective buyers by limiting their buying power.

Historically speaking, today’s rates are still near the lowest end of the spectrum.  Homebuyers have financed homes at rates MUCH higher than this and with the high cost of rents, purchasing a home will continue to be an attractive option.  With the uncertainty of where rates will go, those who are in the market to buy a home should at least take the first step in getting a solid pre-approval and strategy in place.  A prepared homebuyer will have the advantage and that is where the big savings can be found, regardless of rate.

Call Todd Wiggins with First Community Mortgage with any questions and/or to get a quote on today's Mortgage Rates. 615.554.1983  (NMLS 211744)  

 

"You've Got a Friend in Real Estate"
Jarod Tanksley 615.403.8265
www.BrentwoodandBeyond.com
Brentview Realty  615.373.2814

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Posted on 03/28/2017 9:00 AM by Jarod Tanksley
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Wednesday, 15 March 2017
Spring Cleaning & Maintance suggestions
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Aren't we all ready to get into the outside elements after a winter season? It is so refreshing to go outside without cumbersome clothing and to breathe the fresh air. This is the time to evaluate your home inside and out to ward off any ensuing problems so you can enjoy your summer weekends and events with friends and family.

* THE ROOF - Inspecting your roof is a challenging job even when you are ok with heights and climbing that forever ladder. But then what are you looking for? What are the problems for you to identify? You are looking for missing shingles, pitted and rusted flashing and some cracks around solid areas like skylights and pipe coverings. If you aren't ok with that ladder you can actually use binoculars. Try it - I have and it works. Using binoculars you can actually identify the problem areas before climbing the ladder. It's also a good idea to have the gutters cleaned out at this too. To be honest it's probably easier to pay some to do this for you.

* TREES & BUSHES - Overgrowth Making sure that limbs are at least 5 feet from your home is a must. This helps in making sure that the moisture is kept at a minimum. Keeping the limbs at bay also aids in deterring critters from picking you as their new landlord. Trust me- preventing them from entering is much better and less expensive than removing them after they set up residence with you and your family. So Springtime is an excellent time to trim those branches and bushes.

* DRAINAGE - It is Spring and we can expect lots of rain in our area. So making sure that the areas around our house are draining properly will save a lot of headaches in the future. Soil slopes going away from the house should be six vertical inches per 10 feet going away from the house. This is will avoid and stop the mold, mildew and termite problems associated with improper drainage of water due to rain and water ponding. Checking and Cleaning Foundation Vents This task can be done by hand or using a shop vac. This is also a convenient time to check any screening and Repairing that torn screen that can keep mice and other critters from entering. Mice and other creatures their size can enter a hole in the screen the diameter of a pencil. 

* PAINTING - Is it time to paint the house? Actually most homes here in Middle Tennessee are brick but we have that painted trim to deal with. So what it boils down to is repair and paint. What I mean by that is scraping is imperative and then power washing to remove any and all particles to allow a clean surface for painting. Painting all exposed, scraped and exposed surfaces is necessary to protect your wood trim.

You might want to map out a plan in tackling these projects. Some of these chores can take more than one day's work but other smaller jobs can be done in a good Saturday's work day. Start now so the summer weekends are yours to enjoy. If you need a referral for a handyman please let me know.

 

"You've Got a Friend in Real Estate"
Jarod Tanksley 615.403.8265
www.BrentwoodandBeyond.com
Brentview Realty  615.373.2814

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Posted on 03/15/2017 8:30 AM by Jarod Tanksley
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Thursday, 9 March 2017
TOP 5 Reasons to Use a Professional to Sell your Home
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The most expensive purchase you will ever make in your lifetime is your home.  You constantly and sometimes daily  invest in your home's condition.  So of course it is so important that when you decide to sell your home you would want to be able to use a professional to market and sell your home.  Here are 6 reasons why.

1.  Your professional Realtor is comfortable and educated in negotiating with the many people involved in your transaction, while keeping your best interest in mind.
*    Not only the buyer but the buyer's agent.  This buyer's agent is working solely for the buyer not you the seller.  
*    Of course then there is the buyer's attorney.
*    Your Realtor can provide up-to-date information and comparables for the appraiser.
*    Home inspectors who work for the buyer can be someone the Realtor has experience with
    and is able to intelligently speak with about information he works with each day.


2.  Research tells us over 94% of Buyers go online to seek their possibilities of a new home.  Professional Real Estate agents have a presence online with a strategy and know the importance of the internet in selling your home. Professional Pictures are a must.  A strong web presence is a must. By the time a Buyers Agent schedules a viewing of your home, the Buyer has viewed it online multiple times online.
3. Increased paperwork over the last few years has made For Sale By Owner become more and more difficult.  The increase in this paperwork is astronomical.  Many rules and regulations have changed and your professional through continuing educations is able to stay current with all disclosures and changes in the law and market. The last 20 years has shown us a drastic drop in trying to do a For Sale By Owner and the realization that a wiser decision is to use a Real Estate agent for the best possible result in the sale of your home. 

4. For Sale by Owner (FSBOs) are trying to save that real estate commission. Well guess what?  They may have cut corners to save money on repairs to fix the house too?  Beware... FSBO's aren't held to same disclosure laws as those listed with a REALTOR. Studies have shown us that homeowners retain more of their profit in the sale of their home in using a professional in the real estate market.  Selling homes is what a Realtor does every day, not just once or twice in a lifetime like a FSBO.  You need to be able to provide answers to all questions that the average citizen couldn't possibly be expected to know.  

5.  Last but not least is the schools your children will attend. School system lines are closely drawn.  Your professional Realtor makes sure he knows where each home is placed and in what school district.  They also make it a vital part of their package to know the strengths of each individual school in the area.

After reading the information above, it is time for you to be the judge.  I know in your infinite wisdom you will agree that awarding your home to a professional to market for you is the best decision you can possibly make.  Please let me know how I can help.  I'll be happy to come by and meet with you and your family for a free consultation.
"You've Got a Friend in Real Estate"
Jarod Tanksley 615.403.8265
www.BrentwoodandBeyond.com
Brentview Realty  615.373.2814
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Posted on 03/09/2017 4:20 PM by Jarod Tanksley
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Wednesday, 1 March 2017
Spring Break is Just Around the Corner....
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    As warmer weather starts to reveal itself with budding trees and daffodils poking they bright yellow blooms through the soil, it means spring break is very close.  Spring Break has always been an exciting time for our children.  Mom and Dad in most cases are a part of that.   Our children are consumed with having the right clothes, swim gear and who is staying near them at the beach.  Mom and Dad are weighed down with reservations, travel plans, money for food and accessories and a safe vehicle to travel to their destination. Oh and let's not forget about leaving their home safe and sound.  

*   Stopping the mail and newspaper
The United States Post Office allows us to put our mail on hold up to 30 days before leaving on a trip.  Go to: holdmail.usps.com   This a good time to also call the newspaper to put it on hold.  You can have your newspapers stopped or saved to receive on your return.  Some people actually donate those newspapers to charity organizations.  Newspapers lying in front of your home or mail stuffed in your mailbox alerts others that you're not home.

* Appliances 
Turning off the water flow to appliances like the clothes washer can save a water leak or hose bursting and doing severe damage to floors and carpet.  You can also conserve energy and money by turning of the gas flow to your water heater.

*  Thermostat
It is wise to NOT turn off your HVAC because extreme temperatures can harm your home.  You can turn down the thermostat or if you have a programmable thermostat, it will take care of your home temperature while you are gone.  To help in doing some of these tasks you can call you heating and air-conditioning expert.

*  Lamps and Lighting
We all notice when we pass a home that is dark day and night for an extended amount of time.  Buying a couple of inexpensive timers will handle this problem.  Outdoor lights can be put on sensors and the indoor lights will come on at dusk with the timers.  

* Refrigerator and Kitchen Prep
Unplug your small appliances, i.e. coffee maker, toaster ovens, food processors.  Cleaning out your refrigerator and pantry is a great idea. Who wants to return home from a fun time at the beach to a smelly fridge.   Make sure you empty your trash can and ask a neighbor to put out your garbage receptacle  and return to its normal spot after being emptied.

*Electronics etc.
Unplug electronic devices and this will reduce power usage in the house.  Often there are power surges and if items like computers, TVs and phone chargers all unplugged you are protected. 

* Garage Security
Often the garage is a forgotten area.  It is imperative that you protect this area especially when the garage is attached which is the norm here in our community.  Garage doors have a simple bolt lock that can be engaged from inside to prevent the door from being opened.  Make sure the pedestrian door is secured and the door entering the home from the garage is locked.

We all to forward to spending time with friends and family.  Whether it is vacation or spring break, it really adds to your peace of mind to prepare your home and make sure it is secure.

 

Have fun - Be Safe on the Beach - Return Home to us Happy and Safe.

"You've Got a Friend in Real Estate"
Jarod Tanksley 615.403.8265
www.BrentwoodandBeyond.com
Brentview Realty  615.373.2814

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Posted on 03/01/2017 11:00 AM by Jarod Tanksley
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