Alan Sells Real Estate!

The Best Way to Sell a Home - the Kitchen!

2012-02-01T11:56:00.000-06:00

The kitchen is the heart of a home. You know the old saying that the "stomach is the way to the heart" - it certainly carries a lot of truth. Kitchens are where we spend much of our time and most of that is with our families. It's the room where we nourish our bodies and our spirits. They are integral to entertaining and daily living in today’s large open floor plans. They are the focal point of the family, thus of the home the family is buying.

This one room is the showpiece of the house. You'll see it every day and your guests will see it during most visits. This means buyers want homes with up-to-date kitchens. These important spaces can be the most expensive part of a house to renovate. New flooring, appliances, granite tops and paint can quickly add up - and today’s “plugged-in” buyer knows this.

When deciding on the extent of your kitchen renovation, take into consideration the level of kitchen within your current subdivision. The key is to be relevant to the are and price range, without over spending and not being able to get that money back. If the neighbors mostly have granite tops, stainless appliances and recessed lightings, then these are certainly features you should consider adding. Doing all of this and adding professional appliances and travertine floors might push you out of the price range of the buyer for your area. Market relevance is key!

Sometimes a kitchen update can mean doing just a few minor changes. Change the paint color to a warm, neutral tone. Get rid of any clutter. Update your appliances, paint your cabinets, change the cabinet hardware, or get a high-end looking counter for a fraction of the cost. You might even save a bundle by doing much of the work yourself.

The bottom line is a kitchen can sell a home. Do a little research and find out what your kitchen needs to make it competitive within your area.

For more details about Selling your home in Jackson TN visit:

www.workwithalan.com

10 Great Gift Ideas for First Time Home Buyers:

2011-12-14T14:15:00.000-06:00

Below is a list of the Top 10 gift ideas for First Time Home Buyers. Let me know what gifts you wish you had received, when you moved in to your first home.

Lawn Mower/Yard Tools
It didn’t even dawn on me until after my first week moved in, “I have a beautiful yard and need to maintain it!” I really love working in my yard but securing all of the tools was a big upfront cost. Lawn items like shovels, garden hoses and rakes are a great, useful gift ideas for Christmas.
Large Serving Platters/Dishes for Entertaining
I was never able to entertain large groups in my old apartment. With our new home we’ve been entertaining much more and having large dishes for party platters has been a real benefit.
Grill & Patio Furniture
Our house has a great outdoor living spaces for entertaining. When the weather is nice, we enjoy spending the evening outside grilling steaks. Most apartments won’t allow personal grills and this was at the top on my list when we moved.
Fire Extinguishers & First Aid Kits
Many new homes come with smoke detectors hard wired into the home, but it’s always a good idea to have a fire extinguisher on hand. If you live in a two story home you might consider a safety ladder. Safety gifts like these are often overlooked until it’s too late.
Ladder
I never thought I’d use my ladder as often as I do. From tree trimming to Christmas Lights I find this is a great item for home owners. I remember putting on hold so many personal projects until I finally got a ladder.
Picture Frames & Hardware Kits
It’s your home, a place to build memories. Home purchases typically come with other life changing events and picture frames are a great way to capture those moments. A level, hammer and hardware kits are often great ideas that they’ll use for years.
Fireplace Screens & Pokers
Nothing makes a home feel cozier than a warm fire during the winter. My old apartment didn’t have a fireplace and I remember waiting for the temperature to drop before I could use the one in my new home.
Gift Cards
A new home is a blank canvas ready for home owners to add their personal touch. We spent months looking for new accessories and completing new rooms that we had never had before like our home office and guest room.
Ceiling Fans
These are a great addition to any room and help circulate the air and reduce heating and cooling cost. With so many styles they add a great personal touch to a home.
Welcome Mats
I remember when we first moved into our new home. We were so proud and a welcome mat was one of our first purchases. Our home is so much larger than our apartment and we have mats for the front and back patio doors. If the couple you’re shopping for is anything like my wife, we have a welcome mat for each holiday season.

For More Details about Homes for sale in Jackson TN

www.workwithalan.com

Realty Times - Time to Move up?

2011-10-19T08:10:00.000-05:00

Realty Times - Time to Move up?

Time to Move up?

by Carla Hill

The market if fraught with scary headlines and ominous news reports. Could the economy slip once more into a recession? Will home prices fall even further? It's enough to make even the bravest buyer a little squeamish.

In order to evaluate if now is the time for you to buy, consider these five issues.

The truth of the matter is that now is a fantastic time to buy. Interest rates are wonderfully low and affordabilty rates are at record highs. Not only that, but there is an oversupply of homes on the market. Now is a great time to move up if you play host to the right set of circumstances.

1. Interest Rates: Low rates translate into smaller monthly payments and less money over the long-term. The Federal Reserve has promised to keep interest rates low for the foreseeable future, but in the next few years we could see rates climb back upward. If you have excellent credit, you'll likely qualify for an exceptional rate. Better yet consider doing an all-cash purchase (like the nearly 30 percent of the market) and avoid interest rates altogether!

2. Why are you buying?: This is an important question to spend some time pondering. Don't move on a whim. What is the real need to move? Many move-ups need more space, want to claim a more prestigious address, or are ready to settle down for good and want to be exactly where they've always dreamed. Perhaps your current home is unable to be remodeled to accommodate your wants and needs. Regardless of the reason, be sure to spend ample time thinking about what move is best for your family.

3. Equity: Home values have fallen across much of the country and this could mean that equity you had built over the past few years is gone. Talk to a local real estate agent about the current market value of your home before deciding if now is a time to buy. Most sellers aren't willing to take a loss on their home. The good news? If you've owned your home for many years (at least five) then chances are you do indeed still have equity.

4. Financial Stability: There's a 9.0 percent unemployment rate that doesn't appear to be going anywhere fast. Moving up can mean bigger payments or heftier bills (energy costs, property taxes, etc). Are you ready to take on this new responsibility? Be sure that you have steady employment, adequate retirement savings, an 8+ month emergency fund, as well as savings for downpayment and other closing costs.

5. Family Concerns: There are many different stages to life and at each of these stages one must consider how actions will affect family members. A family with young children will need to consider school districts, sports teams, and friends. A couple nearing retirement may want to consider the needs of children or grandchildren that live nearby. Buying a home is about much more than making a sound financial decision, it's about creating the sort of life you desire.

Moving-up can be part of the fulfillment of a life long dream. Many couples simply can't wait for the day they step inside their perfect home. Now is a great time to make those dreams a reality, just be sure to toss in a little sensibility with your dreaming.

Published: October 6, 2011

Enjoy the History of the Iphone and it's Core Technologies

2011-09-26T06:54:00.005-05:00

http://videos.cnet.co.uk/crave-tv/animated-history-of-the-iphone-40001641/

5 Inexpensive Home Updates to Complete before Listing Your Home

2011-08-29T09:33:00.002-05:00

RISMEDIA, August 11, 2011—There is no perfect formula for selling your home efficiently, but by following these five tips prior to listing you can increase your chances to close quickly at a higher price.

1.) Update your old garage door(s).Garage doors seem like a non-issue, but many times they make up a significant percentage of the front of a home. Because of this, they are one of the first things that buyers notice when they pull in the drive way. Replacing, or even just painting, these central fixtures will do wonders when it comes to instantly impressing perspective buyers and standing apart from your competition. The market has changed drastically since many of us purchased our homes here in town. I frequently hear buyers say that they have taken a house off their list because of the lack of curb appeal. This issue is especially important to people on busier streets, corner lots, or near a neighborhood eyesore.

2.) Replace old windows. Outdated windows age a home significantly, and you can often upgrade standard windows to vinyl for a reasonable $300 per window. The average home has 8 windows, so this upgrade doesn’t cost nearly as much as you might think and it will make a huge difference to the value perceived by prospective buyers. Key point to remember is that when buyers view a home they love, if they see it has older windows, they consider it a time consuming and costly headache. First time buyers have never replaced windows and often dramatically overestimate the cost to cure this issue. By replacing pre-listing you an actually save money. A well priced, move-in condition home will sell for far more than one with windows in need of repair.

3.) Assess your floors . If you have hardwood flooring, it’s worth the investment to have them refinished considering buyers put an extremely high value on them; you’ll get the most bang for your buck if they are refurbished. Carpets should be shampooed and replaced if they are stained or look worn. You don’t need to spend large amounts of money on the highest grade or most modern name but something inexpensive and neutral will certainly bring you a return on the investment. Even the smell of new carpet will make buyers set your home apart from the comparables.

4.) Paint the trim. If you can’t afford the daunting task of painting your entire house, painting just the trim will still make a big difference when it comes to curb appeal. Painting the whole house can be expensive, time consuming, and delayed by weather conditions; painting just the trim will give your home a fresher look. Interior trim is equally as important.

5.) Update fixtures. Keep an eye out for sales at home improvement stores and replace outdated lighting, plumbing and hardware fixtures. Simple replacing lighting fixtures and knobs in the bathroom or kitchen can update the entire look of the room. You can find many modern brand name fixtures online on contractor supply websites by just searching for terms like sale faucets, sale plumbing fixtures etc.

Lisa Johnson Sevajian is Vice President of Coldwell Banker in Andover, MA.

How Do Property Tax Rates Work?

2011-05-14T09:31:00.005-05:00

RISMEDIA, March 28, 2011—It’s that time of year again, and some of you should be expecting your property tax bill for the first half of 2011. If that’s the case, then you’ll probably be wondering just how the government calculates property tax rates and why your bill seems to change every year.

Well, here’s an answer to your questions.

First, there is a difference between property tax rates and a property tax assessment. The rate is an overall percentage at which your property is taxed. The assessment is a valuation of your property’s worth, so that the government can determine how much money it is taxing.

States have different rules for conducting a property tax assessment, but the goal is to get an accurate value for the taxable property. This is usually determined by the replacement cost of structures and property, or the market value of the property calculated via comparison to similar properties.

Keep in mind that reassessment happens every few years, directly impacting property tax rates.

Once a property tax assessment has been conducted for an entire region, the local taxing entity then determines property tax rates.

Tax rates are determined in one of two ways, but are subject to percentage caps imposed by the law.

The taxing authority can choose to divide its yearly projected expenditures by the assessed value of all property in the region, assigning a portion to each property. It may also choose to estimate its budgetary needs based on different tax rates until it finds a reasonable rate. Here are the current 2011 Tax Rates for Madison & Gibson COunty:

County	City	Special School Dist.	RATES
County	City	Special School Dist.	Co.	City	SSD	Total
MADISON			$2.3100			$2.3100
MADISON	HUMBOLDT		$2.3100	$2.9900		$5.3000
MADISON	JACKSON		$2.3100	$2.1000		$4.4100
MADISON	THREE WAY		$2.3100	$0.6300		$2.9400
GIBSON	HUMBOLDT		$0.7900	$2.9900		$3.7800
GIBSON	BRADFORD	BRADFORD SSD	$0.7900	$1.6200	$1.9500	$4.3600
GIBSON		GIBSON CO SSD	$0.7900		$1.6100	$2.4000
GIBSON	DYER	GIBSON CO SSD	$0.7900	$1.7500	$1.6100	$4.1500
GIBSON	GIBSON	GIBSON CO SSD	$0.7900	$1.0200	$1.6100	$3.4200
GIBSON	MEDINA	GIBSON CO SSD	$0.7900	$1.7800	$1.6100	$4.1800
GIBSON	RUTHERFORD	GIBSON CO SSD	$0.7900	$1.4400	$1.6100	$3.8400
GIBSON	YORKVILLE	GIBSON CO SSD	$0.7900	$0.6500	$1.6100	$3.0500
GIBSON	KENTON	KENTON SSD	$0.7900	$1.2300	$2.0100	$4.0300
GIBSON	MILAN	MILAN SSD	$0.7900	$1.2000	$2.0100	$4.0000
GIBSON	TRENTON	TRENTON SSD	$0.7900	$1.7200	$2.0400	$4.5500

For details on all TN Property Tax Rates

Though no one enjoys fluctuating property tax rates—or taxes in general—they serve an important function. Taxes pay for local services, such as police and the fire department, as well as maintenance of infrastructure. They also pay for schools. So complain all you want, but please pay your property tax bill.

For more Info on the West TN Real Estate Market

www.workwithalan.com

Let's Help our School System Re-invent - Your Input is Needed

2011-04-12T08:17:00.000-05:00

www.educatejackson.com

The citizens of Jackson and Madison County need a school system from which all students graduate prepared for success.

To help make this vision a reality, the Jackson Area Chamber of Commerce and Jackson-Madison County School System have come together to develop shared goals for our public schools and a set of clear, actionable strategies for achieving them.

This strategic planning process is just getting underway. For it to be successful, the entire community must be involved. Educating our youth is not just the responsibility of our schools; we all have a role to play.

Economic News Continues to IMPROVE!

2011-03-30T10:06:00.001-05:00

Insider Secrets for the 5 Stages of Buying a Home

2011-02-22T08:23:00.000-06:00

Buying a home is not a discrete event; it's a process - a sequence of events that happens over time, sometimes over as long as several months or even years! While general guides to buying a home are a dime a dozen, I'm excited to share with you some insider secrets you may not have heard elsewhere - one for each stage involved in buying a home. Here's to helping you make the best decisions at every phase of your homebuying process!

Stage One: Deciding Whether It's The Right Time to Buy.
Insider Secret: The market is the least important factor you should consider when deciding whether and when to buy a home.
Why: Everyone knows affordability is at an all-time high. Home prices are low, and so are interest rates. But trying to time the market is a fool's errand; many who get caught up in that game of trying to make sure they buy at the absolute bottom will end up losing out on very, very favorable conditions.

Beyond that, the most important considerations when deciding whether and when you should buy a home are personal, not market driven. On today's market, it only makes sense to buy a place if it's going to be sustainable and work for you for at least the next 4-5 years [if your town's real estate market has been fairly recession-proof] or 7-10 years [if the housing/foreclosure crisis has hit your area pretty hard].

Against this "smart holding period" backdrop, smart buyers decide to buy when it makes sense for:

their life plans (i.e., they are comfortable making the commitment to live in the same town, and the commitment to )
their family plans (i.e., whether they plan to get married, have children or empty their nest in the time they plan to own the home - and the implications of these plans on their space needs and location priorities)
their career plans (including, but not limited to: whether they have job or income security, whether they feel they will be working in the same area for the foreseeable future, and whether they want to work less or start their own business in the months or years to come)
their financial plans (including foreseeable changes in income and expenses, e.g., kids going to college or making partner at the firm).

Stage Two: Getting Pre-Approved.
Insider Secret: Working with a mortgage broker referred by your real estate broker or agent may save you money.
Why: Bolstered by the real-life stories of a couple of bad apples, TV pundits and some consumer advocates have spun the tale of a real estate industry cartel, whereby sinister agents hook unsuspecting buyers up with shady mortgage brokers, who place them in crappy loans and kick back some bucks to the agent. I'm here to tell you, in my experience, the opposite is true the vast majority of the time.

When you work with a mortgage broker who has a strong track record of helping your real estate agent's clients out, you end up in a best of all worlds situation, nine times out of ten. First off, your agent will take you much more seriously once a mortgage broker they know and trust has run your credit, checked your income and approved you for a loan, as well as communicated with your real estate pro about your qualifications and what you can afford. Secondly, your agent can help you communicate with your mortgage broker, sometimes helping get past appraisal glitches or facilitating other workarounds, as they come up. Third, you get the assurance of working with a mortgage pro who has been vetted and vouched for by someone you not only trust, but someone who can verify that the mortgage broker has the ability to get transactions closed in the timely manner required of today's real estate sales contract. Otherwise, you may end up working with a competent mortgage broker who has a great track record when it comes to refinancing, but can't keep up with the pace and common obstacles to getting a home financed in the context of a sale.

On top of that, sometimes the relationship can help you negotiate out of a couple of line item loan fees (if your particular mortgage rep has the power to get them down at all), if push comes to shove and cash is tight to close the deal. Assuming you are working with a real estate pro you really trust, working with a mortgage broker they trust can save you, rather than cost you, money.

Stage Three: House Hunting
Insider Secret: "Distressed" doesn't always equal "discounted" - in some cases, a "regular" sale can be a deeper deal.
Why: Short sales and foreclosures have grown to comprise roughly 30 percent of the homes sold on today's market, even higher in some areas. The average sale price of foreclosed homes was 32% lower than the average sale price of non-foreclosed homes, at last count. However, it's not always the case that foreclosed homes or short sales - homes which are being sold for less than what the seller owes on their mortgage(s) - offer the buyer a fabulous discount.

Mortgage servicers and asset managers who make decisions about distressed properties are on the hook to their investors to recoup as close as possible to the current fair market value of every home they sell. Some banks even have a general rule of rejecting offers more than 10 percent or so below the home's list price, preferring instead to reduce the price by that amount and put the home back on the open market to see if any new buyers are activated by the price reduction to make an offer better than the lowball offer that was initially put on the table. On short sales, the bank is trying to get as close as possible to recovering what the seller owes - and may or may not be concerned with what the fair market value of the home is. (Nine times out of ten, there will be a big gap between fair market value and the seller's outstanding mortgage balance. If there wasn't, the seller wouldn't need to do a short sale!)

With so many distressed properties and homes with depressed values on the market, in many areas, the individual, non-distressed home sellers who are putting their homes up for sale right now are those who are very motivated to sell. Further, they are more likely to be flexible with you on everything that is negotiable, from contingency and escrow periods, to price, to repairs and included items.

Also, individual sellers can be emotionally motivated to sell to move on with their lives, get into their bigger (or smaller) house, or move on to their next job; banks, on the other hand, aren't people (!), so lack that emotional sense of urgency to get the properties sold, no matter how urgently you may think they should be trying to get rid of the foreclosed properties they own. (If you've heard the old advice that banks don't want to be in the home-owning business, I can tell you this. That is true, in a very general sense, but now they are and will be - for a long time to come. They have no emotions, have no urgent need to sell or move, and are not willing to give houses away at pennies on the dollar to get out of it, no matter what those infomercial folks say.)

Long story short: you can sometimes negotiate a better deal with an individual seller on a "regular" sale than with a bank on a distressed home sale. So, don't limit your house hunt to foreclosures and short sales, if you're looking for a good deal on your home.

Stage Four: Negotiations
Insider Secret: Your family and friends can cause you to lose your dream home.
Why: With so much information on the web and the news every day about the recession and the buyer's market, everyone seems to be an armchair economist/real estate savant. But much of that news is national and based on medians, averages and trends. That is, it might not necessarily apply to every home on the market in every city, and more importantly, it might have nothing to do with "your" particular home.

When I was a little girl, my best friend's grandfather would very carefully hand each of us a quarter, always doling it out with the sage admonition: "Don't spend it all in one place." We'd always smile, look at each other, then go ask our Moms for ten bucks apiece. In the same vein, people who are not currently in the market for a home have no idea what an individual home should "go for." If you tell your parents, church pals, or colleagues at work the blow-by-blow details of your offer, counteroffers, etc., you should expect to hear things like, "Oh, you're paying way too much!", "I think you should push them down another $10K," or "You know, you're in a better bargaining position than that." And sometimes, taking that sort of advice will end up blowing your deal. Work with your trusty real estate broker or agent to develop a smart strategy - with their experience in your local market - about what price and terms to offer. Then keep working with them to manage and maintain realistic expectations as you proceed through negotiating the contract to buy your home.

Stage Five: Escrow, Inspections and Underwriting
Insider Secret: It's critical that you attend your home inspections.
Why: When it comes to inspections, many first-time buyers expect that a home will either pass or fail. Except in a few jurisdictions where the government imposes certain condition requirements for a home to be sold, the home inspection is more about educating you, the buyer, as to the details and nuances of the home's condition than about seeing if the place hits a particular target for "good" or "bad" condition.

Home inspectors don't just look for things that need fixing, they also look to understand the home's systems and features, as well as to point out areas that will require your ongoing maintenance, highlight emergency shutoffs and other need-to-knows, and indicating where you should have specialists further inspect items of concern. Many home inspectors create vivid, detailed electronic reports - some, complete with color photos. But that's not enough!

If you're physically onsite at the home during the inspections, the inspector can physically show you the shutoffs for water, gas and electric - and how to use them. They can also point out, in person, any things that need repair, and give you some tips for maintaining the place in tip-top shape. Also, in many states, the general home inspector is legally prohibited (vs. the pest, roof or other "specialty" inspectors) from issuing a written quote or bid for repairs, to avoid a conflict of interest where they'd try to fabricate flaws in the home to get the repair job. However, the repair costs are one of the most important things a smart buyer wants to know!

If you show up, many inspectors will give you a rough range it would cost you to do various repairs, or otherwise indicate to you whether the needed repairs are "big deal" or "$10 home improvement store" fixes; some will even give you a few references to contractors they trust.

All around, you'll get much more of the detailed information you need to know whether and how to move forward with the transaction if you should up in person to the home inspections, rather than just waiting for a copy of the report to come to your email.

For more information or help with Real Estate in the Jackson, TN area - visit my website at

www.workwithalan.com

195 Fawn Ridge in Stonecreek For Sale

2011-02-08T10:18:00.000-06:00

New-Home Sales Rise Sharply in December 2010

2011-01-31T07:53:00.001-06:00

Sales of new single-family homes rose almost 18% in December 2010 to the highest rate since last spring. Sales jumped to an annual rate of 329,000 on a seasonally adjusted basis, with almost three-quarters taking place in the West, according to the Commerce Department. Economists polled by MarketWatch had predicted sales would rise to 299,000.

Economists expect sales to accelerate in 2011 as the U.S. economy improves and buyers are attracted by low prices and ultra-low interest rates. Yet the rate of growth will depend largely on how fast the nation’s high 9.4% unemployment sinks. The lack of work has hurt many homeowners, and the fear of losing a job has scared off prospective buyers, creating a surplus of available homes. Builders have reacted by slowing new construction.

In December, for example, the supply of homes at the current sales pace dropped from 8.4 months to 6.9 months, the lowest level since last spring. And at the end of 2010, about 190,000 homes were available for sale, the fewest on the market since 1968, according to the Commerce Department.

The median price of new homes, meanwhile, climbed to $241,500 in December from $215,500 in November. Fluctuating home prices can have a big impact on sales. If sellers think prices will continue to rise, for example, they might hold off on selling. Or if buyers think prices will fall, they might wait to purchase a new home.

Since data for tracking sales in new homes is volatile and subject to frequent change, economists tend to look at several months of data to gauge market trends. Over the three-month period of October to December, new-home sales averaged 296,000.

For more details on the Jackson TN Real Estate market visit www.workwithalan.com

Sony Unveils New PSP - 'Next Generation Portable'

2011-01-27T06:34:00.000-06:00

At a live event in Tokyo, Sony on Thursday unveiled what many had come to call the PlayStation Portable 2, its long-awaited, all-new handheld video game console. Known officially as the "Next Generation Portable," the device will be available this holiday season. Sony has not yet said what the new PSP will cost.

According to CNET sister site Gamespot.com, the new device will come in a brick form factor and feature a 5-inch OLED display with four times the resolution of current-generation PSPs. It has touch pads on both the front and the rear and dual micro analog joysticks. It also has both front- and rear-facing cameras and will use a Flash-based memory card. It will also offer 3G, Bluetooth, and Wi-Fi connectivity,according to GameSpot. On-stage in Tokyo, Sony's Shuhei Yoshida said the new device boasts PlayStation 3-quality graphics.

Read more: http://news.cnet.com/8301-13772_3-20029649-52.html#ixzz1CEqci9oQ

America's Strange Homes For Sale

2011-01-25T07:13:00.000-06:00

In Pictures: America's Strange Homes For Sale - Strange Homes For Sale - Forbes.com

Understanding HUD Properties & Investment

2011-01-18T07:02:00.000-06:00

HUD Properties, FHA & Title Seasoning
by William Bronchick

With HUD properties, title seasoning, FHA loans, and short sales, investors have had some confusion regarding the rules. This article will clarify all of these issues for you.

HUD is the United States Department of Housing and Urban Development, a government agency whose goal is to increase homeownership, support community development . The Federal Housing Administration (FHA), which is part of HUD, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States.

HUD and FHA come into play in three different scenarios in the investor/foreclosure arena.

HUD Foreclosed Properties

When a person gets an FHA loan, it is funded through a private lender and the loan is insured or backed by the Federal Housing Administration. When the loan is in default, FHA pays out the lender and take an assignment of the loan. When the property is foreclosed, it is owned by HUD. HUD then offers these properties for sale to both owner-occupants and investors. The properties are offered on the local MLS computer database, but you have to submit an offer through a HUD-approved real estate broker. The offer is made under a bid process, under which the HUD will either accept or reject your offer depending on what other offers are submitted. An investor can buy, hold, or flip these properties if their offer is accepted.

FHA Loans and Title Seasoning

Then second place HUD comes into play is the FHA loan. If a buyer of your property gets an FHA loan, there is a title seasoning requirement of 90 days (temporarily suspended). In other words, if you are selling the property to an FHA buyer, you must have title recorded in your name for 90 days before the closing and funding of the FHA loan. This precludes you from doing a double-closing or a short term (less then 90 days) flip.

Keep in mind that the 90 day seasoning rule has nothing to do with HUD-owned properties as described above. In other words, you can buy a HUD property and flip it 3 minutes later so long as your end-buyer is not using FHA financing.

FHA Loans in Short Sale

The third place HUD comes into play is if you are working on a foreclosure short sale on a property that has an FHA loan. In this case the Federal Housing Administration is insuring the loan and must approve the short sale. You can buy a property with an FHA loan on it, then flip it without a title seasoning issue, unless your end-buyer is getting an new FHA loan.

In summary, don’t confuse the FHA new loan 90-day title seasoning requirement with the two other scenarios, HUD-owned properties and and existing FHA-insured properties. For more information on HUD properties and FHA loans, visit www.hud.gov.

For More Details regarding our local Jackson, TN Real Estate market - visit www.workwithalan.com

Existing-Home Sales Resume Uptrend with Stable Prices

2011-01-18T06:56:00.001-06:00

Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, according to the National Association of REALTORS^®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 5.6 percent to a seasonally adjusted annual rate of 4.68 million in November from 4.43 million in October, but are 27.9 percent below the cyclical peak of 6.49 million in November 2009, which was the initial deadline for the first-time buyer tax credit.

Lawrence Yun, NAR chief economist, is hopeful for 2011. "Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable," he said.

Yun added that home buyers are responding to improved affordability conditions. "The relationship recently between mortgage interest rates, home prices and family income has been the most favorable on record for buying a home since we started measuring in 1970," he said. "Therefore, the market is recovering and we should trend up to a healthy, sustainable level in 2011."

The national median existing-home price for all housing types was $170,600 in November, up 0.4 percent from November 2009. Distressed homes have been a fairly stable market share, accounting for 33 percent of sales in November; they were 34 percent in October and 33 percent in November 2009.

Foreclosures, which accounted for two-thirds of the distressed sales share, sold at a median discount of 15 percent in November, while short sales were discounted 10 percent in comparison with traditional home sales.

Total housing inventory at the end of November fell 4.0 percent to 3.71 million existing homes available for sale, which represents a 9.5-month supply at the current sales pace, down from a 10.5-month supply in October.

NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I., said good buying opportunities will continue. "Traditionally there are far fewer buyers competing for properties at this time of the year, so serious buyers have a lot of opportunities during the winter months," he said. "Buyers will enjoy favorable affordability conditions into the new year, although mortgage rates are expected to gradually rise as 2011 progresses."

For more details about our local Madison County Real Estate Market, check out www.workwithalan.com

Economic and Housing Outlooks Brighten According to Fannie Mae Analysis Group

2011-01-13T09:55:00.000-06:00

Print Article

Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic Outlook released today by Fannie Mae’s (OTC Bulletin Board: FNMA) Economics & Mortgage Market Analysis Group.Downside risks still exist, however, including a weaker than expected employment report, the ongoing economic turmoil in Europe, and potential inflation problems in China.

For 2011, forecasted growth was upgraded from 2.9 percent to 3.4 percent based on the positives in the recent reports. The forecast anticipates improving labor market conditions, despite the huge disappointment from the November employment report. The housing recovery should gain momentum going into 2011 if the expected stronger labor market materializes.

“Despite rising mortgage rates, our forecast for home sales is stronger than the previous forecast, given our brighter economic growth and labor market outlook,” said Fannie Mae Chief Economist Doug Duncan. “We expect modest increases in home sales, despite recent interest rate rises, due in part to modest additional declines in home prices, and we expect people to take advantage of affordability as their employment and income outlook brightens.”

For local Jackson Real Estate www.workwithalan.com is your comprehensive choice for updated information

RISMEDIA, December 28, 2010—

Use Experts to Navigate Homebuying Proces

2010-12-13T07:54:00.000-06:00

In a growing atmosphere of the do-it-yourself mentality, some wonder should I take on the homebuying process on my own. It's certainly been done, but, more often than not, homebuyers turn to the experts when it comes time to making, what will often be, their most expensive purchase.

1. Knowledge is power. Real estate agents work in the field every day. They're immersed in markets that buyers, likely, have less opportunity and time to study. Working with the right expert can not only speed up the homebuying process but also help you easily transition from your current living space to the home of your dreams.Here are just a few reasons why it's a good idea to use an expert real estate agent to help you navigate the homebuying process.
You can also learn information that's not readily available from, say, an open house sign or a listing you may view on the Internet. Elizabeth Weintraub, About.com Guide, writes, “For example, you may know that a home down the street was on the market for $350,000, but an agent will know it had upgrades and sold at $285,000 after 65 days on the market and after twice falling out of escrow.”

2. Help with paperwork chaos. If you've bought a home then you know that the paperwork is enormous. If you've never purchased one, get ready to be overwhelmed. But using an agent, helps you to understand what the paperwork is, when it needs to be in (so that you don't miss important deadlines), and its importance in the transaction.

3. Network of support. Real estate agents have a professional network of service providers to help with the homebuying process (and selling, of course, too). When it comes time to purchase your home, you'll find that being able to tap into that service provider network can be invaluable. Everything from reputable vendors to retail outlets that offer the best pricing for home decor, are often in the agent's contact list.

4. Negotiation. This is the area where an expert agent can really shine. For buyers, it can be difficult to negotiate (from a non-emotional standpoint) because they're really invested in the outcome. A top-producing real estate agent can represent buyers' needs and still stay emotionally removed enough to ensure the best outcome.
Negotiation is often the least favorite part of the transaction but the most important. Having an expert on your side, who is working for your success, can reduce the amount of frustration that can potentially arise during this process. Also, in sellers' markets, agents are tasked with helping position buyers in the best possible light to sellers in order to help the deal close for their client.

5. Pricing and value. Agents don't determine what buyers should pay for a home but they can show you the best value based on their price point. They have visited many more homes than most buyers because this is their job. They're in the market daily and they know when a home has recently been reduced or fallen out of escrow.

It's the knowledge, the experience, and the effort and dedication to helping you find your dream home, that ultimately is the reason most people seek out that expert real estate agent to help them navigate the homebuying process.

For more help and Market Info, visit my website at

www.workwithalan.com

The 2010 Housing Tax Credit Vacuum ----- and what it means for 2011 Home Buyer's

2010-12-09T08:24:00.000-06:00

Recently Graphing our local MLS market sales for the last 2 years, Two things are evident:

The Tax Credit that ended April 30th certainly was effective at grabbing Home Buyers
The 2nd Half of 2010 is in far worse shape than the market was prior to the Tax Credit

The Central West TN Real Estate Market has been in a continued slide since May/June. It dropped far below the levels we were in 2009. Meaning our beloved Tax Credit has created a huge Vacuum in the market. It pulled all the possible Home Buyers into one single time frame at the beginning of the year. It created a Vacuum in the market leaving hardly no one ready to buy a Home unless they were forced to move or relocate areas. The casual upgrade or first-time home buyer is not there because they already made their big purchase earlier in the year to take advantage of some Free Dough for Washington. I certainly don't blame them either...

So where does the market go form here? Well, that's easy ---- UP! This vacuum has run it's course and now that the holidays are hear and people are thinking of mistletoe and egg nog, the New Year is just around the corner. I see the New Year has a very promising Buyer's Market again. Once we make it thorough the Holiday Season, people will notice several things:

Strong Existing Home Inventory - Great Choices!
Unbelievable Rates - even if they go up a little, they are still Historically Low!
Desperate Sellers = Even Lower Prices!

2011 is lining up to be one of the best Home Buyers Markets in Decades - Possibly Ever. These Low Prices, Low Rates, and Huge Inventory should create a Home Buying Frenzy that puts the Real Estate Market buzzing. If there ever was a time to Buy, It will be 2011. So get ready; warm up your mouse; start burning up some internet bandwidth; and find your next Dream home. There may never be a Better Time to do so in your Lifetime than the Coming Year!

For Easy Acces to the local MLS System, visit my Website today. Conduct all of your searched in one simple to use place - www.workwithalan.com

November Housing Scorecard Shows Continued Signs of Stabilization in House Prices and High Home Affordability

2010-11-29T10:58:00.000-06:00

Print Article

RISMEDIA, November 24, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the November 2010 edition of the Obama Administration’s Housing Scorecard (www.hud.gov/scorecard). The latest housing figures show continued signs of stabilization in house prices and high home affordability due in part to record low mortgage interest rates. The housing scorecard is a comprehensive report on the nation’s housing market.

“The Obama Administration has made significant strides in promoting stability for the housing market and the nation’s homeowners. Through a range of swift actions since we took office, we’ve seen millions more families able to stay in their homes and a steady rise in responsible borrowers refinancing their loans or becoming homeowners,” said HUD Assistant Secretary Raphael Bostic. “But, while we cannot stop every foreclosure, we know that more has to be done to reach homeowners in distress and to help unemployed borrowers. That’s why we’re continuing to focus on successfully implementing the programs we’ve put in place—such as neighborhood stabilization funding, additional assistance on refinancing and emergency loans to help unemployed homeowners—and ensuring that help is available to homeowners as early as possible.”

“The recent reports of problems in the foreclosure process underscore the importance of helping responsible homeowners avoid the pain of foreclosure,” said acting Assistant Secretary for Financial Stability Timothy Massad. “As we implement additional program enhancements to reach more homeowners, we continue to stress to mortgage servicers the importance of making every effort to enroll eligible homeowners in HAMP and provide meaningful alternatives to avoidable foreclosures.”

The November Housing Scorecard features key data on the health of the housing market including:

-An additional one million families refinanced their mortgages in the last quarter, taking advantage of the lowest rates in history on 30-year fixed mortgages. Since April 2009, record low interest rates have helped more than 8.3 million homeowners to refinance, resulting in more stable home prices and $15.2 billion in annual borrower savings.

-As expected with the expiration of the Home Buyer Tax Credit, new and existing home sales have remained below levels seen in the first half of 2010. At the same time, home prices remained level in the past year after 33 straight months of decline and homeowners added $95 billion in home equity in the second quarter.

-More than 3.73 million modification arrangements were started between April 2009 and the end of August 2010—more than double the number of foreclosure completions during that time. These modification arrangements included nearly 1.4 million trial Home Affordable Modification Program (HAMP) modification starts, more than 600,000 Federal Housing Administration (FHA) loss mitigation and early delinquency interventions, and nearly 1.8 million proprietary modifications under HOPE Now. While some homeowners may have received help from more than one program, the number of agreements offered were more than double the number of foreclosure completions for the same period (1.6 million).

Data in the scorecard also show that the recovery in the housing market continues to remain fragile. While the recovery will take place over time, the Administration remains committed to its efforts to prevent avoidable foreclosures and stabilize the housing market.

For more information, visit www.hud.gov.

For Local Jackson Real Estate visit my website - www.workwithalan.com

Housing Remains Highly Affordable for Seventh Consecutive Quarter

2010-11-22T08:53:00.000-06:00

RISMEDIA, November 22, 2010—Housing affordability remained near its highest level nationwide for the seventh consecutive quarter as interest rates dipped below 5% for the first time since the series was first compiled nearly two decades ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).

The HOI indicated that 72.1% of all new and existing homes sold in the third quarter of 2010 were affordable to families earning the national median income of $64,400. The index for the third quarter almost equaled the record-high 72.5% set during the first quarter of 2009 and marked the seventh consecutive quarter that the index rose above 70%. Until 2009, the HOI rarely topped 65% and never reached 70%.

“With interest rates remaining at historically low levels, and house prices starting to stabilize, homeownership is within reach of more households than it has been for almost 20 years,” said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Mich. “While these favorable conditions are beginning to draw home buyers back into the market, builders continue to have major problems in obtaining credit for new-home construction, and this obstacle must be overcome if builders are to respond to improving demand moving forward.”

Indianapolis-Carmel, Ind., was the most affordable major housing market in the country, regaining the top ranking it held for nearly five years after being edged out by Syracuse, N.Y., last quarter. In Indianapolis, 93.3% of all homes sold were affordable to households earning the area’s median family income of $68,700.

Also near the top of the list of the most affordable major metro housing markets were Youngstown-Warren-Boardman, Ohio-Pa.; Grand Rapids-Wyoming, Mich.; and Dayton, Ohio, and Wichita, Kan.

Among smaller housing markets, the most affordable was Kokomo, Ind., where 96.1% of homes sold during the third quarter of 2010 were affordable to families earning a median-income of $61,400. Other smaller housing markets near the top of the index included Mansfield, Ohio; Lima, Ohio; Monroe, Mich.; and Bay City, Mich., respectively.

New York-White Plains-Wayne, N.Y.-N.J., continued to lead the nation as the least affordable major housing market during the third quarter of 2010. In New York, 22.6% of all homes sold during the quarter were affordable to those earning the area’s median income of $65,600. This was the 10th consecutive quarter that the New York metropolitan division has occupied this position.

The other major metro areas near the bottom of the affordability scale included San Francisco; Bridgeport-Stamford-Norwalk, Conn.; Los Angeles-Long Beach-Glendale, Calif.; and Santa Ana-Anaheim-Irvine, Calif., respectively.

Santa Cruz-Watsonville, Calif. was the least affordable of the smaller metro housing markets in the country during the third quarter. Other small metro areas ranking near the bottom included San Luis Obispo-Paso Robles, Calif.; Santa Barbara-Santa Maria-Goleta, Calif.; Ocean City, N.J; and Napa, Calif.

Open House in Today's Marketing...

2010-11-16T09:11:00.000-06:00

Sellers simply love for Agents to conduct an Open House in their Listing. But, upon closer inspection, do open houses fall within the boundaries of productive marketing or seller appeasement?

Many agents, especially those with more listings than they can effectively manage, often allow inexperienced agents to hold their listings open. This is usually done to make the seller think they are working hard to sell their home. These newly-licensed agents know little about your home or neighborhood, but often know less about qualifying potential buyers. If a couple of directional signs, some balloons and a plate of cookies was all it took to sell a home, sellers wouldn't need real estate brokers in the first place. The fact is, less than 1% of homes ever sell as a result of an open house.

The truth is that open houses have an extremely limited window where they are actually beneficial to the seller. Here's why; when your home is new to the market, potential buyers - and agents - want to see it. If it is priced correctly, all repairs made and staged appropriately, an open house can be a great opportunity. But that opportunity only lasts for a few weeks. After that, most agents and buyers are familiar with the house.

After the first few weeks, if an agent agrees to hold an open house, it's for one thing; to meet potential buyers. The agent is using your home as a lure in hopes of catching buyers who, oddly enough, most likely will not purchase your home.

It is my certain opinion that the 80's & 90's trend of effective Open House marketing fell to the mighty Internet -- Forever. HD Quality photos, Virtual Tours, HD Video Tours -- all offer a detailed view of the home like never before in the comfort of the potential buyer's couch.

Hickman Realty Group offers Exceptional Marketing for the Central West TN area with three office to serve you. Don't Buy Madison County Real Estate or Gibson County Real Estate without talking to Alan Castleman of Hickman Realty Group.

For more information about Homes for Sales visit www.workwithalan.com

Be Smart - Real Estate Tips

2010-11-15T08:05:00.001-06:00

Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers

By Dan Steward Print Article

RISMEDIA, October 13, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers.

While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for today’s buyers and sellers:

For Sellers:

DO’S
Be flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.

Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.

DON’TS
Don’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.

Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?

Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.

For Buyers:

DO’S
Get a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.

List your place before you look for another. If you’re truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.

Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.

DON’TS
Don’t be a design snob. If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.

Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.

Need more help selling - Visit my Sell Your Home Website for marketing ideas.

www.workwithalan.com

Do You have Above Average Credit?

2010-11-10T14:14:00.000-06:00

Do you Have Above-Average Credit?

Market Issues by Jeff Mandel and Marlin Brandt Print Article

RISMEDIA, July 11, 2009-Forty-two percent of U.S. consumers have credit scores between 550 and 699. As a result, these consumers typically don’t qualify for preferred interest rates and, depending on their overall credit profile, they may not even qualify for certain loans and credit cards. The primary challenge is that most consumers don’t understand what impacts their credit profile and, more importantly, don’t know what actions they can take to help improve it. This short quiz will help test how much you know about your credit profile and how it works.

1. To have the best credit profile impact, what is the maximum amount of your monthly credit line you should use?
a) 70%
b) 30%
c) 50%

2. What is the top contributing factor to what makes a good credit score?
a) Length of credit history
b) Amounts you owe
c) Payment history

3. If you pay 2% each month on your credit card (typical minimum payment), when will you pay off a $3,000 balance at 10% interest?
a) 18 years
b) 6 years
c) 3 years

4. After paying off a high-interest credit card, you should:
a) Continue using it occasionally
b) Close the account
c) Use the full amount of available credit every month

5. Applying for credit cards in order to just receive a free sign-up gift (t-shirts, mugs, etc.) has no impact on my credit profile?
True or False

6. Rewards points on credit cards are a good deal when:
a) I get cash back
b) I get free airline tickets
c) I carry no balance each month

7. To have a credit score, I must have at least one creditor reporting activity on my credit report for:
a) 12 months
b) 8 months
c) 6 months

8. Credit bureaus that manage your personal credit report data and credit scores are a:
a) Government entity
b) Non-profit agency
c) Regular business corporation

9. Banks and credit card companies think you are credit-worthy by how many credit offers you receive by mail?
True or False

10. Credit scores are used by lenders mainly to:
a) Tell how I compare to other consumers
b) Tell if I make my payments on time
c) Predict the likeliness that I will repay my loan on time

Answers: 1 – c, 2 – c, 3 – a, 4 – a, 5 – False, 6 – c, 7 – c, 8 – c, 9 – False, 10 – c

If you find you answered more than half of these questions wrong, you’re not alone. In a survey, we found that the majority of consumers do not know the answers to these and similar types of questions. On average, U.S. consumers have a total of 13 credit obligations on their credit report. These include installment loans (auto loans, mortgage loans, student loans, etc.) and credit cards (such as department store charge cards, gas cards, or bank cards). As a result of the numerous outstanding credit obligations, combined with the lack of proper knowledge and guidance about what impacts their credit profile, the average U.S. consumer ends up spending thousands of dollars on unnecessary interest expenses.
The good news is that it’s not too late. With a good understanding and proper guidance of how credit works, consumers can learn how to effectively manage their personal credit profile. Improvements can be obtained fairly rapidly with credit coaching services and the proper changes (no more trial-and-error stuff). Our survey group of customers who participated in a credit optimization and coaching service saw their credit scores increase by an average of 30 points in just four months as a result of more effectively managing their credit. More than ever, every responsible consumer should proactively evaluate, optimize and protect their credit before they have a required credit need or an issue arises.

Jeff Mandel is president and Marlin Brandt is COO of ApprovalGUARD.

Is there Value in Home Ownership these Days?

2010-11-10T08:18:00.002-06:00

Value in Homeownership

by Carla Hill

Is there value in owning a home? The recently released 2010 National Association of REALTORS® Profile of Home Buyers and Sellers brings us some promising results. Today homeowners are living in their homes longer, and after several years of price declines, are seeing rises in home equity gains.

It was only earlier this decade that so many buyers jumped on the investment bandwagon. They bought and sold within incredibly short time frames, and walked away with profits. But as the booms busted, many sellers found they had bought at the top of the market and as prices corrected, they lost more than just dollars. Foreclosure rates skyrocketed. Historically, however, homeownership is a long term investment, and one that brings many rewards.
"Sellers who purchased at the top of the market and had to sell in a short time frame were hurt by the price correction, but the vast majority who are able to stay for a normal period of home ownership generally built enough equity to make a trade-up purchase," NAR 2010 President Vicki Cox Golder said. "Despite swings in the housing market in recent years, the fact is most long-term owners see healthy gains in the value of their property."
Golder also says the pattern of home buyers taking a long-term view has solidified over the past few years. "This underscores two simple facts – home ownership encourages stability, and the longer you own, the better your investment."
Current market and economic conditions have created a shift from the house flipping ways of the boom. "The primary exception is for experienced investors, many of whom pay cash and are making renovations or improvements after a careful study of properties, neighborhoods and market demand," Golder explained. "The house flipping and quick gains which occurred during the boom period were abnormal, driven by risky, easy-money financing that should never have been allowed in the market."
American are still buying, however. And surveys have found there are particular reasons behind these purchases. These include the desire to own a home, the desire for a larger home, a change in family situation and taking advantage of the home buyer tax credit, a job-related move, and then the current supply of affordable homes.
And once they buy, homeowners are staying put longer. A typical seller has been in their home for 8 years, but the survey reveals first-time buyers are planning to stay for 10 years, and repeat buyers for 15 years.
Even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000, a 24 percent increase, while sellers who were in their homes for 11 to 15 years saw a median gain of 40 percent. So, once again buying for the long-term is steering its way back into value.
Published: November 9, 2010

3 ways low mortgage rates can work for you

2010-11-10T08:13:00.000-06:00

3 ways low mortgage rates can work for you

Fall is the time of year

2010-09-27T10:01:00.000-05:00

I love the Fall season. A break from the ridiculous swelter that we call Summer in the Southeast, and a season of Fall sporting activities. Football, Soccer, Cross Country, Marathons, etc... The mornings are crisp and cool, the days are warm and dry. And of course, the beautiful fall foliage is creeping up on us for a spectacle no one could create other than our Glorious creator Himself!

I read that the Feds officially declared The Great Recession is over last week. They say it ended in June 2009. I know most people do not fell this in the real world, but it is promising news none the less. We have to crawl to walk right?

I just received my weekly mortgage interest rate update from my good friend Drew Yates at Foundation Bank. It seems that interest rates are still lingering near record lows in the lower 4% range.

So why is the housing market still sluggish? (desperately vacant from buyers in most areas) Consumer confidence! The mid term elections; the horrific lingering high unemployment rate; the national dept; the ridiculously childish political partisan rhetoric; The Bush Tax Break extensions or not debate... These things all add up to public doubt.

It's time to MOVE PAST the DOUBT! We are in a new Season, a promising economic future, and cost of borrowing money is at our lifetime low more than likely. If people have ever considered moving up, or simply just moving --- NOW IS THE TIME TO BUY!!!! Don't let consumer opinions blind you to the realities that are within our grasp. Reach out and take hold of the best Housing opportunity you've EVER SEEN!

Oh yeah----- Happy Fall!

Alan Castleman
www.workwithalan.com

Single Property Websites WORK!

2010-02-05T15:24:00.000-06:00

Brochures...

Why?????? Why waste so much paper and printer ink printing a brochure. People just want the details, then they chunk the brochure. Each listing should have it's own website and it's own TXT number for quick access anytime. The popularity of txt'ing and the growth of advanced smartphones now allows us to MOVE into the current century with Real Estate listings.

Imagine driving up to a home for sale and wonndering what the size, layout and price was. No Brochure BOX!!!! But wait---a sign that says this home has it's own dedicated website. www.123AnywhereSt.com WOW! And wait-----its says I can txt to a number and receive all the main info on my phone. WOW!
Now I've got all the info saved on my phone, and I have access 24/7 to way more information about the property than any brochure could ever give me.

Why would anyone want to NOT use these services? They are available and well within the reach of the Selling Agent. Yes----I am utilizing these features, and they are exciting!

Check out my latest property listing:
www.12amberoakscove.com

and be ready to experience the only way to market a home in the 21st century...

Economy grows at fastest pace in 6 years - Stocks & economy- msnbc.com

2010-01-29T09:18:00.000-06:00

Economy grows at fastest pace in 6 years - Stocks & economy- msnbc.com

I get so upset when I hear how Government is not fixing our economy. The main thing that everyone forgets is that it took us at least a DECADE to get in this mess, NO ONE is going to be able to correct it in a year! This is gonna take time - lots of time. Things that are in place to help prop up the economy are doing just that - HOLDING IT UP while it has time to correct... People love to blame others - especially the Right Wing Conservatives who are pointing all the fingers at the Obama Administration. I certainly do not agree with all of the things that the Obama administration has done over the past year --- but I certainly cant BLAME them for our economy not recovering fast enough. NO ADMINISTRATION IN HISTORY could have stepped into Washington in January 2009 and has us back on track today. Not even our most revered Presidents could tackle that task. Yet people love to point blame.

This is good news that we ARE on the right TRACK! We ARE going to pull this OUT. We ARE going to stand strong as Americans have in the past and set this as another Historical accomplishment that the American People Persevered!

The NEW Tax Credit - $6500!

2009-11-20T12:40:00.001-06:00

A lot of people are excited about the extension of the $8000 first time home buyers tax credit until April 30 2010. As they should be!! Free Money from the Fed is Good!! But what about the additional tax credit----the $6500 for existing home owners.

"WOW--I can get $6500 for buying a new home?? Finally---something for me... I've been wanting to upgrade for some time now and this sounds like the best time to do it!" You are CORRECT! Now is the best time to upgrade. Mortgage rates are very low, Inventory of those "upgrade" properties is very high, and the deals are Flying form the sellers of those properties - ensuring that you can find the home of your dreams and the best price in DECADES!!! And the Fed is gonna give you $6500 for doing this. Yeah---I'd Say WOW too!

One Major consideration-----to buy this new home, you must SELL EXISTING HOME FIRST! You cant go and buy a second home and qualify for the Tax Credit. Today's market in Jackson TN area for a traditional 3 bedroom home is about 110 days on the market. That means if you listed your home Dec 1, it would likely close March 20th, 2010. That would leave you only 40 days to find your new home, negotiate the deal, and get into a binding contract by April 30 2010. 40 DAYS!!! That's not much time. And that's IF you get it listed by December 1, and IF it sells as the Average is running. And don't forget about contract that fall through because of lending issues. You may sell then not make it to close because your buyer lost his/her funding.

My point-----This is a great opportunity! BUT----You Cant Wait. You MUST ACT NOW to help you navigate through this process so you can obtain your next dream home in time to get the $6500 Tax Credit.

Call me--- I can help(call NOW)!

UPDATED 11/25/09:

I have been enlightened by a friend since I wrote this blog. It seems that you DO NOT have to sell your current property to buy a new one and qualify for the $6500. This changes everything!!!

See Below:

Pasted below, but found at http://www.irs.gov/newsroom/article/0,,id=206293,00.html

Q: I’m already a homeowner. If I buy a replacement home after Nov. 6, 2009, to use as my principal residence, do I have to sell my home to qualify for the homebuyer tax credit?

A: If you meet all of the requirements for the credit, the law does not require you to sell or otherwise dispose of your current principal residence to qualify for a credit of up to $6,500 when you buy a replacement home to use as your principal residence. The requirements are that you must buy, or enter into a binding contract to buy, the replacement principal residence after Nov. 6, 2009, and on or before April 30, 2010, and close on the home by June 30, 2010. Additionally, you must have lived in the same principal residence for any five-consecutive-year period during the eight-year period that ended on the date the replacement home is purchased. For example, if you bought a home on Nov. 30, 2009, the eight-year period would run from Dec. 1, 2001, through Nov. 30, 2009. (11/17/09)

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