Sunday, June 5, 2011

Murfreesboro Real Estate: Selling A Lifestyle

I am not a saleswoman. I am not an investment specialist. I am a residential home agent, and I am selling a lifestyle. I work with investors, sure, but I am selling them a means to a lifestyle.

Murfreesboro Real Estate has infinite lifestyle possibilities.

There are some amazing houses on large lots, in rural areas with great outdoor spaces for outdoorsy people, or people who like lots of room to stretch their legs! Check out Springhouse!

We also have some great possibilities for upscale, lifestyle-based residential developments that cater to a more traditional neighborhood feel. Check out Stratford Hall!

Or the newest Urban flair, Swanson's condo development on Thompson Lane. Convenient to shopping, dining, interstates, and the new MTMC. Check out Gateway Village!

Looking for all-inclusive, resort style living with tons of common areas and amenities? Like new construction? Check out Marymont Springs !

When it comes to a lifestyle, Murfreesboro offers it's residents a rich and vast variety of options, choices, and dreams.

Murfreesboro offers residents:

First class education, with local schools earning the Governor's A-Plus Award for Excellence in Education

Middle Tennessee State University, the largest undergraduate university in Tennessee, located in Murfreesboro

Rich quality of life, featuring a lively arts program; a beautiful Greenway Trail System throughout the county; golf courses; soccer and baseball fields; boating and fishing on five area lakes within a one-hour drive.

Desirable career opportunities, with the Federal Bureau of Labor Statistics ranking Rutherford County as "first in the U.S. for new job growth"

Annual community events such as the Jazz Fest featuring contemporary jazz concerts and the Uncle Dave Macon Days celebrating old-time music, dance and culture.

Friday, April 1, 2011

Murfreesboro Real Estate: Bob Parks Realty #2

According to the Nashville Business Journal, Bob Parks Realty has ranked toward the top of the list for Residential Real Estate firms in Middle Tennessee!!!!!!!

Bob Parks Realty

2011 rank: 2

2010 rank: 3

This firm ended 2010 with 2,848 company sides on a transaction. Gross sales for the firm were $560 million and the average sales price for the year was $204,300.

For 2011, we are up over 30% in sales as a whole for the company! That is very promising news for the recovery of the fundamentally important real estate business and it's affect on the overall economy.

Murfreesboro real estate is not nearly as devastated as many markets, but we have all obviously been affected by the slump in the economy. The absorption rates of homes on the market is decreasing, and the sales prices will begin to increase over time. So whether you are buying or selling Middle Tennessee Real Estate with Bob Parks Realty, remember that we have over 400 agents cooperating to get your home bought and/or sold, and that choosing me means choosing a team of over 400:)

Wednesday, March 16, 2011

Murfreesboro Real Estate: The Good, the Bad, The Ugly

Suffice it is to say that Murfreesboro Real Estate can be complicated.

It can be easy.

It can be pretty.

It can be ugly.

One of the single largest complaints I hear from buyers right now is about PMI. It takes the No. 1 Ugly Award right now. Ugh. It has actually perturbed and irritated several of my prospective buyers to the point that they have made the decision to withhold from purchasing until they can put down 20% on a conventional loan to avoid paying it.

Why wait for the market to reach the fully corrected level with full prices to avoid a nominal monthly fee? A real estate purchase, is and will always be however, a smart investment...regardless of PMI. Yes, even now. There. I said it. So, let's talk avoiding PMI...

1: Get the down payment from a different source if possible (i.e. relative) in order to have your 20% on a conventional loan. The lending restrictions on these loans may be more strict, and the rates may be slightly higher than with FHA, but with FHA regardless of a 20% down payment, PMI will be required for at least 5 yrs. typically. The downside to option 1: you still have to pay the relatives back.
2.: "Lender paid PMI:" the lender actually pays the PMI, but the interest rate gets a little bump. This sometimes, but not always, can be more cost effective than you paying the PMI.
For certain income earners having the lender pay the PMI can be beneficial because you can write off the interest on your taxes. This is honestly true for everyone, however in 2007 PMI became tax-deductable as well (for purchases 2007 and later) and for households earning less than $100,000 annually. The deduction is on a graduated scale of phasing out for up to a $110,000 annual income.
3.: Utilizing the VA loan for those who qualify.
4.: Utilizing the USDA/Rural development loan. This type of loan has an eligibility restriction on the properties that can be purchased, however, when combined with the typically lower taxes on rural properties, and the lack of PMI requirement, this loan can be incredibly cost effective. This loan can also afford up to 102% LTV (loan to value). So, down payment is avoided as well.
Historic prices, historic rates, and a corrected and balanced lending and purchasing climate all equal to the best possible time to make the investment, and even though that's the thinking that got a lot of people into a mess, and upside down in houses etc, let's face it: we are all being punished by stupidity. People bought things that they couldn't afford, they got money they couldn't pay back, and now the real estate market has been teetering on the brink for several years, but while it teetered it become a more balanced and level playing field. With new lending practices, a new appreciation for the economy and economics as a whole, and a new market flooded with affordable and cut rate housing the real estate market is a new place...a place where those who have stable incomes, low debt, and affordability can still purchase, and purchase at a gain in many cases from day one. Sure, you have to have a down payment now, but is 3.5% really too much to ask to be able to put down on the single largest investment that most of us will ever make? Probably not. Yes, PMI sucks. It takes money out of your pocket that could be put toward the principal. But, we all pay for insurance be it automobile, home owners, life, disability, or health, what's one more insurance payment in the grand scheme of things especially when it's honestly short lived in most cases (and can be completely avoided with certain specs)? . Buying in this climate, where in some instances a buyer can start with equity on the date of closing, will that low monthly payment somehow magically counteract all of the benefits of home ownership to the point that it should be avoided? Absolutely not.