Saturday, June 5, 2010
Listing at Spence Enclave
Seller to help with closing costs! Leaving the refrigerator and other appliances. This home is a must see!
Monday, March 1, 2010
What buyers are looking for, and what sellers can do to attract them!
What Sellers Can Do To Attract Buyers This Spring
The local real estate market is buzzing with activity. Spring is in the air. Right now is one of the busiest times for home sales. This year the tax credits for first-time home buyers ($8,000) and repeat buyers ($6,500) have brought out buyers intending to sign purchase contracts by April 30, 2010. Also, affordably low interest rates have increased buying power. That's why well-positioned properties are moving quickly.
If you've been waiting to put your home on the market, or are thinking about selling, now is the time. In this market, to bring serious buyers into your home, you need to be prepared. Here are some key points to remember if you want to take advantage of today's housing market.
Buyers Know Price
There is no beating around the bush. Buyers are savvy and know the price points in our local market. If your home is in the buyer's price range -- and priced correctly for its location, amenities and condition -- your home will attract attention. If it's not priced right, buyers will notice immediately and move on. Additionally, not pricing correctly could help sell your home's competition faster. Rely on us, your real estate professionals, to help you arrive at the optimum price that will get your home sold quickly for the best price.
Move-In Condition
Stage your home to look magazine-perfect and your home will draw buyers in. Take the time to declutter, organize and tastefully set up each room. Comparison shoppers will reward you with interest and offers. Your hard work also will be on display in online photos that entice buyers to drop their mouse and take an in-person look at your home. A well-maintained home will showcase itself in online property sites and will help us get it sold.
Flexibility
First-time buyers often have few constraints on their offer, because they don't have a home to sell. Be flexible to allow any serious buyer to settle/close on your home earlier or later than you anticipated, if the right offer comes up. Your flexibility could mean the difference between a sale and no sale. We will help you negotiate the best terms to keep your buyer interested.
Extra Incentive
You've got the right price, your home is in great condition and staged to sell. You've got the flexibility to accept pretty much any move-in date. Now what? If there is a buyer who has visited two times, but hasn't made an offer, one innovative strategy is to consider approaching the buyer with a reverse offer -- an offer to buy your property that originates from you, the seller. The technique can get negotiations and counteroffers started in the right situation. In this case, you may want to throw in a sweetener such as the swing set in the backyard or the patio furniture.
Maybe you have another item of value that you don't want to move that could help sway the buyer to purchase your home. If you don't want to give an item, perhaps you can offer a specific amount to be credited at closing without lowering the selling price. Consult with us for the best strategy to win over a buyer for your home.
Timing Is Everything
The time is right for selling your home, and buyers are out there shopping. Interest rates are near historical lows and tax incentives like we've never seen are available to first-time and move-up buyers. (As a seller you can benefit too if you sign a contract to buy your next home before April 30, 2010 and close by June 30.) If you are interested in a personal consultation to see what your home is worth, please give us a call. We'd love to meet with you and discuss your home.
The local real estate market is buzzing with activity. Spring is in the air. Right now is one of the busiest times for home sales. This year the tax credits for first-time home buyers ($8,000) and repeat buyers ($6,500) have brought out buyers intending to sign purchase contracts by April 30, 2010. Also, affordably low interest rates have increased buying power. That's why well-positioned properties are moving quickly.
If you've been waiting to put your home on the market, or are thinking about selling, now is the time. In this market, to bring serious buyers into your home, you need to be prepared. Here are some key points to remember if you want to take advantage of today's housing market.
Buyers Know Price
There is no beating around the bush. Buyers are savvy and know the price points in our local market. If your home is in the buyer's price range -- and priced correctly for its location, amenities and condition -- your home will attract attention. If it's not priced right, buyers will notice immediately and move on. Additionally, not pricing correctly could help sell your home's competition faster. Rely on us, your real estate professionals, to help you arrive at the optimum price that will get your home sold quickly for the best price.
Move-In Condition
Stage your home to look magazine-perfect and your home will draw buyers in. Take the time to declutter, organize and tastefully set up each room. Comparison shoppers will reward you with interest and offers. Your hard work also will be on display in online photos that entice buyers to drop their mouse and take an in-person look at your home. A well-maintained home will showcase itself in online property sites and will help us get it sold.
Flexibility
First-time buyers often have few constraints on their offer, because they don't have a home to sell. Be flexible to allow any serious buyer to settle/close on your home earlier or later than you anticipated, if the right offer comes up. Your flexibility could mean the difference between a sale and no sale. We will help you negotiate the best terms to keep your buyer interested.
Extra Incentive
You've got the right price, your home is in great condition and staged to sell. You've got the flexibility to accept pretty much any move-in date. Now what? If there is a buyer who has visited two times, but hasn't made an offer, one innovative strategy is to consider approaching the buyer with a reverse offer -- an offer to buy your property that originates from you, the seller. The technique can get negotiations and counteroffers started in the right situation. In this case, you may want to throw in a sweetener such as the swing set in the backyard or the patio furniture.
Maybe you have another item of value that you don't want to move that could help sway the buyer to purchase your home. If you don't want to give an item, perhaps you can offer a specific amount to be credited at closing without lowering the selling price. Consult with us for the best strategy to win over a buyer for your home.
Timing Is Everything
The time is right for selling your home, and buyers are out there shopping. Interest rates are near historical lows and tax incentives like we've never seen are available to first-time and move-up buyers. (As a seller you can benefit too if you sign a contract to buy your next home before April 30, 2010 and close by June 30.) If you are interested in a personal consultation to see what your home is worth, please give us a call. We'd love to meet with you and discuss your home.
Monday, November 9, 2009
Monday, July 27, 2009
June New Home Sales Rise 11 percent
June new home sales rise 11 percent
By ALAN ZIBEL
WASHINGTON – New home sales in June posted the fastest increase in more than eight years as buyers took advantage of bargain prices, low interest rates and a federal tax credit for first-time homeowners.
While home prices are still falling, the figures released Monday were another sign the housing market is finally bouncing back. Earlier this month, the government reported that new home construction rose to the highest level since last fall. And data out last week showed home resales rose almost 4 percent in June, the third straight monthly increase.
"The worst of the housing recession ... is now behind us," said David Resler, chief economist at Nomura Securities. "We're turning the corner toward increased activity in housing."
New home sales rose 11 percent in June to a seasonally adjusted annual rate of 384,000, from an upwardly revised May rate of 346,000, the Commerce Department reported Monday.
Shares of big homebuilders soared on the news, with Beazer Homes USA up by more than 13 percent and Hovnanian Enterprises rising 8 percent in afternoon trading. But with home prices still falling, these companies won't be making much money anytime soon.
The median sales price of $206,200 was down 12 percent from $234,300 a year earlier and off nearly 6 percent from $219,000 in May.
In addition to lower prices, buyers are rushing to tax advantage of a federal tax credit that covers 10 percent of the home price or up to $8,000 for first-time buyers. Home sales need to be completed by the end of November for buyers to take advantage.
"The window of opportunity is closing," said Bernard Markstein, senior economist for the National Association of Home Builders.
June's results were the strongest sales pace since November 2008 and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 360,000 units. The last time sales rose so dramatically was in December 2000.
There were 281,000 new homes for sale at the end of June, down more than 4 percent from May. At the current sales pace, that represents 8.8 months of supply — the lowest level since October 2007. If that number falls to just over 6 months, analysts say, builders will feel more comfortable ramping up construction.
Fallout from the housing crisis has played a central role in the U.S. recession, now the longest since World War II. Foreclosures have spiked, homebuilders have slashed construction, and financial companies have lost billions.
But it will still be a while before homebuilders turn into an engine for the economic recovery. Construction levels are still weak because builders still have too many unsold homes sitting vacant.
By ALAN ZIBEL
WASHINGTON – New home sales in June posted the fastest increase in more than eight years as buyers took advantage of bargain prices, low interest rates and a federal tax credit for first-time homeowners.
While home prices are still falling, the figures released Monday were another sign the housing market is finally bouncing back. Earlier this month, the government reported that new home construction rose to the highest level since last fall. And data out last week showed home resales rose almost 4 percent in June, the third straight monthly increase.
"The worst of the housing recession ... is now behind us," said David Resler, chief economist at Nomura Securities. "We're turning the corner toward increased activity in housing."
New home sales rose 11 percent in June to a seasonally adjusted annual rate of 384,000, from an upwardly revised May rate of 346,000, the Commerce Department reported Monday.
Shares of big homebuilders soared on the news, with Beazer Homes USA up by more than 13 percent and Hovnanian Enterprises rising 8 percent in afternoon trading. But with home prices still falling, these companies won't be making much money anytime soon.
The median sales price of $206,200 was down 12 percent from $234,300 a year earlier and off nearly 6 percent from $219,000 in May.
In addition to lower prices, buyers are rushing to tax advantage of a federal tax credit that covers 10 percent of the home price or up to $8,000 for first-time buyers. Home sales need to be completed by the end of November for buyers to take advantage.
"The window of opportunity is closing," said Bernard Markstein, senior economist for the National Association of Home Builders.
June's results were the strongest sales pace since November 2008 and exceeded the forecasts of economists surveyed by Thomson Reuters, who expected a pace of 360,000 units. The last time sales rose so dramatically was in December 2000.
There were 281,000 new homes for sale at the end of June, down more than 4 percent from May. At the current sales pace, that represents 8.8 months of supply — the lowest level since October 2007. If that number falls to just over 6 months, analysts say, builders will feel more comfortable ramping up construction.
Fallout from the housing crisis has played a central role in the U.S. recession, now the longest since World War II. Foreclosures have spiked, homebuilders have slashed construction, and financial companies have lost billions.
But it will still be a while before homebuilders turn into an engine for the economic recovery. Construction levels are still weak because builders still have too many unsold homes sitting vacant.
Sunday, July 5, 2009
Realtors See Better Times Really Close/Already Here
6 months from now...
Current chart....
Current chart....Realtors See Better Times Really Close/Already Here
From NAR: http://www.realtor.org/research/economists_outlook/commentaries/rci_hilights0509
The table shows a recovery in confidence about both the current market and the expected outlook in recent months. A score of less than 50 indicates relatively poor market conditions; the current score of 33.5 for Single Family homes is clearly reflective of current market conditions, and the score of 45 shows continued concern in terms of the market outlook. However, overall confidence for the single family market outlook is improving. Increases in confidence are also apparent for townhouses and condos, but to a significantly lesser degree. The data in graph form are portrayed below. The reason for a weak condo market outlook appears to be due to stringent requirements for condo loans.
From NAR: http://www.realtor.org/research/economists_outlook/commentaries/rci_hilights0509
The table shows a recovery in confidence about both the current market and the expected outlook in recent months. A score of less than 50 indicates relatively poor market conditions; the current score of 33.5 for Single Family homes is clearly reflective of current market conditions, and the score of 45 shows continued concern in terms of the market outlook. However, overall confidence for the single family market outlook is improving. Increases in confidence are also apparent for townhouses and condos, but to a significantly lesser degree. The data in graph form are portrayed below. The reason for a weak condo market outlook appears to be due to stringent requirements for condo loans.
Thursday, May 14, 2009
First-Time Homebuyer Tax Credit
FAQ's about the $8,000 First-Time Homebuyer Tax Credit.
Here are some answers:
What is the definition of a first-time home buyer? You are considered a first-time homebuyer if:- You purchased your main home located in the United States after April 8, 2008, and before December 1, 2009.- You (and your spouse if married) did not own any other main home during the 3-year period ending on the date of purchase.
Do I have to pay the homebuyer tax credit back? How much is the credit for? $7,500 or $8,000?It depends. For homes purchased in 2008, the $7,500 credit (or 10% of purchase price, if less) operates much like an interest-free loan. You generally can repay it equal installments over a 15-year period unless you move out or sell the home earlier than that. The maximum credit is reduced to $3,750 for married individuals filing separately.
For homes purchased in 2009, you must repay the $8,000 credit (or 10% of purchase price, if less) only if the home ceases to be your main home within the 36-month period beginning on the purchase date. The maximum credit is reduced to $4,000 for married individuals filing separately.
What is the definition of main home? Does a condo count? How about an RV? Your main home is the one you live in most of the time. It can be a house, houseboat, housetrailer, cooperative apartment, condominium, or other type of residence.
What if I don’t owe or pay any income taxes? This is a refundable tax credit, which means that even if you don’t owe any taxes, you will receive the credit amount via check or other means. For example, if before this credit you had a tax liability of $5,000 and withheld $4,000, you would owe the IRS $1,000. If you qualify and claim a $8,000 tax credit, you would now receive $7,000.
What are the income restrictions? The amount of the credit begins to gradually phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers. It is completely phased out when your AGI is $90,000, or $170,000 for joint filers.
Can I just buy a home from a relative and pocket the $8,000?You don’t qualify for the tax credit if you bought the house from a “related person.” According to the IRS, a related person includes:
Your spouse, ancestors (parents, grandparents, etc.), or lineal descendants (children, grandchildren, etc.).
A corporation in which you directly or indirectly own more than 50% in value of the outstanding stock of the corporation.
A partnership in which you directly or indirectly own more than 50% of the capital interest or profits interest.
How do they determine the purchase date as applied to the cutoff dates? If you bought an existing home, the date of purchase is your closing date, not the day that you sign a purchase contract or enter escrow. If you constructed a new home, you are treated as having purchased it on the date you first occupied it. (Seems like some wiggle-room here.)
What IRS Form Do I Have To Fill Out? Can I File For 2008 or 2009 Tax Years? That would be the new revised version of IRS Form 5405 (where most of this information is from), which you fill out and attach to Form 1040. Any updated tax preparation software should be able to handle this. If you already bought your house in 2009, you can file either on your 2008 or 2009 tax returns. (Why not get it now?)
What if two unmarried people buy a house together? If two or more unmarried individuals buy a main home, they can allocate the credit among the individual owners using any “reasonable” method. The total amount allocated cannot exceed the smaller of $7,500 ($8,000 if you purchased your home in 2009) or 10% of the purchase price. A “reasonable” method is any method that does not allocate all or a part of the credit to a co-owner who is not eligible to claim that part of the credit.
I am not a U.S. citizen. Can I still claim the tax credit? If you are a resident alien according to IRS Pub 519 and satisfy all the other requirements, then yes you can claim the credit. Nonresident aliens are not eligible.
Here are some answers:
What is the definition of a first-time home buyer? You are considered a first-time homebuyer if:- You purchased your main home located in the United States after April 8, 2008, and before December 1, 2009.- You (and your spouse if married) did not own any other main home during the 3-year period ending on the date of purchase.
Do I have to pay the homebuyer tax credit back? How much is the credit for? $7,500 or $8,000?It depends. For homes purchased in 2008, the $7,500 credit (or 10% of purchase price, if less) operates much like an interest-free loan. You generally can repay it equal installments over a 15-year period unless you move out or sell the home earlier than that. The maximum credit is reduced to $3,750 for married individuals filing separately.
For homes purchased in 2009, you must repay the $8,000 credit (or 10% of purchase price, if less) only if the home ceases to be your main home within the 36-month period beginning on the purchase date. The maximum credit is reduced to $4,000 for married individuals filing separately.
What is the definition of main home? Does a condo count? How about an RV? Your main home is the one you live in most of the time. It can be a house, houseboat, housetrailer, cooperative apartment, condominium, or other type of residence.
What if I don’t owe or pay any income taxes? This is a refundable tax credit, which means that even if you don’t owe any taxes, you will receive the credit amount via check or other means. For example, if before this credit you had a tax liability of $5,000 and withheld $4,000, you would owe the IRS $1,000. If you qualify and claim a $8,000 tax credit, you would now receive $7,000.
What are the income restrictions? The amount of the credit begins to gradually phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers. It is completely phased out when your AGI is $90,000, or $170,000 for joint filers.
Can I just buy a home from a relative and pocket the $8,000?You don’t qualify for the tax credit if you bought the house from a “related person.” According to the IRS, a related person includes:
Your spouse, ancestors (parents, grandparents, etc.), or lineal descendants (children, grandchildren, etc.).
A corporation in which you directly or indirectly own more than 50% in value of the outstanding stock of the corporation.
A partnership in which you directly or indirectly own more than 50% of the capital interest or profits interest.
How do they determine the purchase date as applied to the cutoff dates? If you bought an existing home, the date of purchase is your closing date, not the day that you sign a purchase contract or enter escrow. If you constructed a new home, you are treated as having purchased it on the date you first occupied it. (Seems like some wiggle-room here.)
What IRS Form Do I Have To Fill Out? Can I File For 2008 or 2009 Tax Years? That would be the new revised version of IRS Form 5405 (where most of this information is from), which you fill out and attach to Form 1040. Any updated tax preparation software should be able to handle this. If you already bought your house in 2009, you can file either on your 2008 or 2009 tax returns. (Why not get it now?)
What if two unmarried people buy a house together? If two or more unmarried individuals buy a main home, they can allocate the credit among the individual owners using any “reasonable” method. The total amount allocated cannot exceed the smaller of $7,500 ($8,000 if you purchased your home in 2009) or 10% of the purchase price. A “reasonable” method is any method that does not allocate all or a part of the credit to a co-owner who is not eligible to claim that part of the credit.
I am not a U.S. citizen. Can I still claim the tax credit? If you are a resident alien according to IRS Pub 519 and satisfy all the other requirements, then yes you can claim the credit. Nonresident aliens are not eligible.
Sunday, April 12, 2009
New Listing! Lake Chateau, Hermitage
CHECK OUT OUR NEW LISTING AT 127 LAKE CHATEAU! LISTED AT $139,900, THIS 2 BR/2 BA HOME HAS TONS OF UPGRADES. CALL US TODAY FOR DETAILS AND TO SCHEDULE A SHOWING!
BILL AND CYNDY BERKLEY
615-376-4500
Saturday, September 13, 2008
Nashville Top Relocation
Nashville Climbs to the Top of America’s Hottest Cities
Expansion Management, a monthly business magazine for executives of companies actively looking for a place to expand or relocate their facilities within the next one to three years, has released its 7th annual "America's 50 Hottest Cities" ranking, to be published in its upcoming January 2005 issue.
Topping this year's list is the Nashville metro area, followed by Atlanta, Kansas City, Charlotte and Indianapolis. Rounding out the Top 10 are Phoenix, Albuquerque, Oklahoma City, Dallas-Fort Worth and Jacksonville.
Last year, Atlanta was ranked No. 1 and Nashville was ranked No. 2.
Texas has five metros on the list, while South Carolina had four cities. Five states — Alabama, Florida, New York, Virginia and Tennessee — each had three cities.
“Unlike the other rankings we do each year, which are based upon hard economic and demographic data, the Hot Cities poll attempts to measure the perceptions of professional site location consultants, whose business it is to help companies select the best locations for future facility expansions,” said Bill King, chief editor of Expansion Management.
In order to find out which are today's hottest cities for business expansion, Expansion Management surveyed more than 80 of the industry's most prominent site location consultants in order to find out which cities their clients find most attractive when it comes to actually selecting an expansion or relocation site — and why these cities are more appealing than the others.
The consultants, whose identities remain confidential, were asked to list their top city choices for relocating and expanding manufacturing companies, taking into consideration such factors as the business climate, work force quality, operating costs, incentive programs, and the ease of working with local political and economic development officials.
"Some cities are well-prepared to attract and retain businesses," said Ken Krizner, managing editor of Expansion Management. "They have logistical advantages, a high quality of life, available work force, and a favorable tax and political climate. These 50 Hottest Cities have a built-in advantage when companies look to site a new manufacturing or distribution facility, or headquarters operation."
Expansion Management is mailed to more than 45,000 CEOs, vice presidents, directors and other officers of companies that have indicated they are considering expanding into new geographic areas.
Expansion Management is a monthly magazine published by Penton Media (www.penton.com), a diversified business-to-business media company that provides high-quality content and integrated marketing solutions to several industries, including: economic development/government/compliance; enterprise IT/business technology; aviation; design/engineering; electronics; food/retail; hospitality; manufacturing; mechanical systems/construction; health/nutrition and natural and organic products; and supply chain. Founded in 1892, Penton produces market-focused magazines, trade shows, conferences and online media, and provides a broad range of custom media and direct marketing solutions for business-to-business customers worldwide.
America’s 50 Hottest Cities (2005):
1. Nashville, Tenn.
2. Atlanta, Ga.
3. Kansas City, Mo.-Kan.
4. Charlotte-Gastonia-Rock Hill, N.C.-S.C. (tie)
Indianapolis, Ind. (tie)
6. Phoenix-Mesa, Ariz.
7. Albuquerque, N.M.
8. Oklahoma City, Okla.
9. Dallas-Fort Worth, Texas
10. Jacksonville, Fla.
11. San Antonio, Texas
12. Seattle-Bellevue-Everett, Wash.
13. Richmond-Petersburg, Va.
14. Knoxville, Tenn.
15. Birmingham, Ala.
16. Memphis, Tenn.-Ark.-Miss.
17. Raleigh-Durham-Chapel Hill, N.C.
18. Colorado Springs, Colo.
19. Tulsa, Okla.
20. Norfolk-Virginia Beach-Newport News, Va.-N.C. 21. Columbia, S.C.
22. Tucson, Ariz.
23. Pittsburgh, Pa.
24. Reno, Nev.
25. Greenville-Spartanburg-Anderson, S.C.
26. Des Moines, Iowa (tie)
Salt Lake City-Ogden, Utah (tie)
28. Hattiesburg, Miss.
29. Chicago, Ill. (tie)
Roanoke, Va. (tie)
31. Huntsville, Ala.
32. Longview-Marshall, Texas
33. Cincinnati, Ohio-Ky.-Ind.
34. Houston, Texas
35. Cleveland-Lorain-Elyria, Ohio
36. Augusta-Aiken, Ga.-S.C.
37. Richland-Kennewick-Pasco, Wash.
38. Montgomery, Ala.
39. Tampa-St. Petersburg-Clearwater, Fla.
40. Baltimore, Md.
41. Charleston-North Charleston, S.C.
42. Syracuse, N.Y.
43. Austin-San Marcos, Texas
44. Buffalo-Niagara Falls, N.Y. (tie)
Sumter, S.C. (tie)
46. Omaha, Neb.-Iowa
47. Lexington, Ky.
48. Little Rock-North Little Rock, Ark.
49. Miami-Dade, Fla.
50. Rochester, N.Y.
Expansion Management, a monthly business magazine for executives of companies actively looking for a place to expand or relocate their facilities within the next one to three years, has released its 7th annual "America's 50 Hottest Cities" ranking, to be published in its upcoming January 2005 issue.
Topping this year's list is the Nashville metro area, followed by Atlanta, Kansas City, Charlotte and Indianapolis. Rounding out the Top 10 are Phoenix, Albuquerque, Oklahoma City, Dallas-Fort Worth and Jacksonville.
Last year, Atlanta was ranked No. 1 and Nashville was ranked No. 2.
Texas has five metros on the list, while South Carolina had four cities. Five states — Alabama, Florida, New York, Virginia and Tennessee — each had three cities.
“Unlike the other rankings we do each year, which are based upon hard economic and demographic data, the Hot Cities poll attempts to measure the perceptions of professional site location consultants, whose business it is to help companies select the best locations for future facility expansions,” said Bill King, chief editor of Expansion Management.
In order to find out which are today's hottest cities for business expansion, Expansion Management surveyed more than 80 of the industry's most prominent site location consultants in order to find out which cities their clients find most attractive when it comes to actually selecting an expansion or relocation site — and why these cities are more appealing than the others.
The consultants, whose identities remain confidential, were asked to list their top city choices for relocating and expanding manufacturing companies, taking into consideration such factors as the business climate, work force quality, operating costs, incentive programs, and the ease of working with local political and economic development officials.
"Some cities are well-prepared to attract and retain businesses," said Ken Krizner, managing editor of Expansion Management. "They have logistical advantages, a high quality of life, available work force, and a favorable tax and political climate. These 50 Hottest Cities have a built-in advantage when companies look to site a new manufacturing or distribution facility, or headquarters operation."
Expansion Management is mailed to more than 45,000 CEOs, vice presidents, directors and other officers of companies that have indicated they are considering expanding into new geographic areas.
Expansion Management is a monthly magazine published by Penton Media (www.penton.com), a diversified business-to-business media company that provides high-quality content and integrated marketing solutions to several industries, including: economic development/government/compliance; enterprise IT/business technology; aviation; design/engineering; electronics; food/retail; hospitality; manufacturing; mechanical systems/construction; health/nutrition and natural and organic products; and supply chain. Founded in 1892, Penton produces market-focused magazines, trade shows, conferences and online media, and provides a broad range of custom media and direct marketing solutions for business-to-business customers worldwide.
America’s 50 Hottest Cities (2005):
1. Nashville, Tenn.
2. Atlanta, Ga.
3. Kansas City, Mo.-Kan.
4. Charlotte-Gastonia-Rock Hill, N.C.-S.C. (tie)
Indianapolis, Ind. (tie)
6. Phoenix-Mesa, Ariz.
7. Albuquerque, N.M.
8. Oklahoma City, Okla.
9. Dallas-Fort Worth, Texas
10. Jacksonville, Fla.
11. San Antonio, Texas
12. Seattle-Bellevue-Everett, Wash.
13. Richmond-Petersburg, Va.
14. Knoxville, Tenn.
15. Birmingham, Ala.
16. Memphis, Tenn.-Ark.-Miss.
17. Raleigh-Durham-Chapel Hill, N.C.
18. Colorado Springs, Colo.
19. Tulsa, Okla.
20. Norfolk-Virginia Beach-Newport News, Va.-N.C. 21. Columbia, S.C.
22. Tucson, Ariz.
23. Pittsburgh, Pa.
24. Reno, Nev.
25. Greenville-Spartanburg-Anderson, S.C.
26. Des Moines, Iowa (tie)
Salt Lake City-Ogden, Utah (tie)
28. Hattiesburg, Miss.
29. Chicago, Ill. (tie)
Roanoke, Va. (tie)
31. Huntsville, Ala.
32. Longview-Marshall, Texas
33. Cincinnati, Ohio-Ky.-Ind.
34. Houston, Texas
35. Cleveland-Lorain-Elyria, Ohio
36. Augusta-Aiken, Ga.-S.C.
37. Richland-Kennewick-Pasco, Wash.
38. Montgomery, Ala.
39. Tampa-St. Petersburg-Clearwater, Fla.
40. Baltimore, Md.
41. Charleston-North Charleston, S.C.
42. Syracuse, N.Y.
43. Austin-San Marcos, Texas
44. Buffalo-Niagara Falls, N.Y. (tie)
Sumter, S.C. (tie)
46. Omaha, Neb.-Iowa
47. Lexington, Ky.
48. Little Rock-North Little Rock, Ark.
49. Miami-Dade, Fla.
50. Rochester, N.Y.
Saturday, August 30, 2008
NEW LISTING IN THE HEART OF GREEN HILLS!
GIVE US A CALL TODAY TO SEE THIS BEAUTIFUL CONDO IN THE HEART OF GREEN HILLS! WALKING DISTANCE TO THE NEW HILL CENTER AND OTHER SHOPPING, FOOD AND FUN! THIS CONDO FEATURES FABULOUS UPGRADES INCLUDING GRANITE, HARDWOODS AND A PRIVATE PATIO.
Thursday, July 17, 2008
Thursday, June 26, 2008
First Offer
Evaluating the First Offer
Your dining room table is the scene of high drama. Your home has been listed for sale for six weeks, and finally, the first offer has come in. You are meeting with the agents, and are very excited until they mention the price--it is a lot less than you expected.
Before you feel offended, however, remember that the first offer is often just the beginning of a negotiating process. Your agent can help you weigh the good and bad points, evaluating the price in relationship to the terms or conditions of the sale. Sometimes an offer with a low price can look quite attractive once you understand all of the terms.
If you are willing to make some compromises, the buyers may accept a counter offer that will give you more money. A lower price from highly qualified buyers may be better than one from people who may have difficulties with financing. Keep in mind that your first negotiated price is often your best price!
Your dining room table is the scene of high drama. Your home has been listed for sale for six weeks, and finally, the first offer has come in. You are meeting with the agents, and are very excited until they mention the price--it is a lot less than you expected.
Before you feel offended, however, remember that the first offer is often just the beginning of a negotiating process. Your agent can help you weigh the good and bad points, evaluating the price in relationship to the terms or conditions of the sale. Sometimes an offer with a low price can look quite attractive once you understand all of the terms.
If you are willing to make some compromises, the buyers may accept a counter offer that will give you more money. A lower price from highly qualified buyers may be better than one from people who may have difficulties with financing. Keep in mind that your first negotiated price is often your best price!
Thursday, June 5, 2008
Location, Location, Location
The Benefits of a Good Location
One primary and irreplaceable feature that influences a home's appeal is its location. Desirable homes are often situated in beautiful geographical settings, with convenient access to jobs, shops and transportation. In preferred locations, homes hold their value over time, even as real estate markets in other, less popular vicinities show evidence of abating.
Some of the most valuable and exquisite homes in America are located in areas that are associated with breathtaking views, fresh air, and enjoyable leisure activities. In such locations, property values tend to remain at a premium because of the fact that there is only a limited amount of precious land, and there is easy access to the pleasures and necessities of life. Existing homes that are well maintained and situated in exceptional natural surroundings often sell very quickly, because people eager to move into the area keep an eye on the listings. There is always competition for homes where the local supply does not accommodate the public demand.
Give us a call today if we can help you find that PERFECT location.
One primary and irreplaceable feature that influences a home's appeal is its location. Desirable homes are often situated in beautiful geographical settings, with convenient access to jobs, shops and transportation. In preferred locations, homes hold their value over time, even as real estate markets in other, less popular vicinities show evidence of abating.
Some of the most valuable and exquisite homes in America are located in areas that are associated with breathtaking views, fresh air, and enjoyable leisure activities. In such locations, property values tend to remain at a premium because of the fact that there is only a limited amount of precious land, and there is easy access to the pleasures and necessities of life. Existing homes that are well maintained and situated in exceptional natural surroundings often sell very quickly, because people eager to move into the area keep an eye on the listings. There is always competition for homes where the local supply does not accommodate the public demand.
Give us a call today if we can help you find that PERFECT location.
The Homes Around Nashville Team
Realty Executives Fine Homes
615-376-4500
615-566-3712
Tuesday, June 3, 2008
Curb appeal
Curb Appeal Takes Starring Role in Competitive Market Updating Windows and Doors is a Must in a House Exterior Makeover
(ARA) – Real estate may be about location, location, location, but it's also about looks. Curb appeal is taking on a bigger role in today's housing market. With the number of available homes for sale growing each day, buyers can afford to be choosy and consider only houses that show well from the street. That means sellers now have just a few seconds to make a first impression, capture interest and draw buyers inside.
Confirming just how important curb appeal is to hooking new owners, JELD-WEN, a leading window and door manufacturer, discovered in a recent survey of real estate agents that 82 percent have had potential buyers decline to look at the interior of a home based on the exterior appearance.
“In today's competitive market, buyers want upgrades, like windows and doors, that create visual appeal,” says Elizabeth Souders, product marketing manager for JELD-WEN. “A home must present itself favorably in a quick snapshot. The real estate agent survey shows that without strong curb appeal, buyers might not even consider looking inside the home.”
Upgrading curb appeal is proving to be a good investment when selling a home. According to the National Association of Realtors (NAR), window and door projects mostly pay for themselves at closing. Typically, homeowners can expect between an 81 to 88 percent return on window upgrades, the NAR said.
Top Five Curb Appeal Tips
In addition to obvious touches like a new coat of paint or fixing cracks in the pavement, updating windows and doors is an ideal first step in boosting a home's image. Whether owners are listing a home for sale, or simply want to increase their home's stature in the neighborhood, JELD-WEN suggests these five tips to increasing curb appeal:
Stay true to style: Upgrades should fit in with a home's architectural style. For example, JELD-WEN says contemporary homes call for windows and doors with clean lines and simple profiles, while traditional homes such as Craftsmans or Colonials are better matched with windows and doors featuring appropriate divided lite designs.
Add details: Custom features are a great way to achieve one-of-a-kind looks that stand out. Adding a doorknocker, speakeasy, decorative glass or metal accents to an upgraded front door can give an Old World home a heightened level of charm to catch a buyer's eye. New house numbers and porch lights also provide a fresh look for entry areas.
Remember the garage: The most prominent exterior feature in many homes is the garage door, so this upgrade goes a long way toward elevating curb appeal. JELD-WEN is seeing many homeowners ordering garage doors complete with window inserts, metal accents and hardware to match the main entry door for a coordinated appearance.
Dress the yard: Make sure the house is the first thing potential buyers see, not overgrown hedges or dead grass. Hire a gardener to spruce up the landscaping and add colorful touches like seasonal flowers, decorative rocks or bubbly water fountains. Shaping bushes and curving lawn borders can shake up a tired front yard.
Coordinate color: Color, when done right, sells. Doors and windows give homeowners ideal opportunities to infuse color into their curb appeal without having to paint.
(ARA) – Real estate may be about location, location, location, but it's also about looks. Curb appeal is taking on a bigger role in today's housing market. With the number of available homes for sale growing each day, buyers can afford to be choosy and consider only houses that show well from the street. That means sellers now have just a few seconds to make a first impression, capture interest and draw buyers inside.
Confirming just how important curb appeal is to hooking new owners, JELD-WEN, a leading window and door manufacturer, discovered in a recent survey of real estate agents that 82 percent have had potential buyers decline to look at the interior of a home based on the exterior appearance.
“In today's competitive market, buyers want upgrades, like windows and doors, that create visual appeal,” says Elizabeth Souders, product marketing manager for JELD-WEN. “A home must present itself favorably in a quick snapshot. The real estate agent survey shows that without strong curb appeal, buyers might not even consider looking inside the home.”
Upgrading curb appeal is proving to be a good investment when selling a home. According to the National Association of Realtors (NAR), window and door projects mostly pay for themselves at closing. Typically, homeowners can expect between an 81 to 88 percent return on window upgrades, the NAR said.
Top Five Curb Appeal Tips
In addition to obvious touches like a new coat of paint or fixing cracks in the pavement, updating windows and doors is an ideal first step in boosting a home's image. Whether owners are listing a home for sale, or simply want to increase their home's stature in the neighborhood, JELD-WEN suggests these five tips to increasing curb appeal:
Stay true to style: Upgrades should fit in with a home's architectural style. For example, JELD-WEN says contemporary homes call for windows and doors with clean lines and simple profiles, while traditional homes such as Craftsmans or Colonials are better matched with windows and doors featuring appropriate divided lite designs.
Add details: Custom features are a great way to achieve one-of-a-kind looks that stand out. Adding a doorknocker, speakeasy, decorative glass or metal accents to an upgraded front door can give an Old World home a heightened level of charm to catch a buyer's eye. New house numbers and porch lights also provide a fresh look for entry areas.
Remember the garage: The most prominent exterior feature in many homes is the garage door, so this upgrade goes a long way toward elevating curb appeal. JELD-WEN is seeing many homeowners ordering garage doors complete with window inserts, metal accents and hardware to match the main entry door for a coordinated appearance.
Dress the yard: Make sure the house is the first thing potential buyers see, not overgrown hedges or dead grass. Hire a gardener to spruce up the landscaping and add colorful touches like seasonal flowers, decorative rocks or bubbly water fountains. Shaping bushes and curving lawn borders can shake up a tired front yard.
Coordinate color: Color, when done right, sells. Doors and windows give homeowners ideal opportunities to infuse color into their curb appeal without having to paint.
Thursday, May 29, 2008
Current Real Estate Rates
Real estate rates up overnight
30-year fixed rate at 5.85%; 10-year Treasury yield at 3.92%
Long-term mortgage interest rates increased Tuesday, and the benchmark 10-year Treasury bond yield climbed to 3.92 percent.
The 30-year fixed-rate average rose to 5.85 percent, and the 15-year fixed rate gained to 5.42 percent. Meanwhile, the 1-year adjustable rate increased to 5.9 percent.
The 30-year Treasury bond yield edged up to 4.64 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average gained 68.72 points, or 0.55 percent, finishing at 12,548.35. The Nasdaq rose 36.57 points, or 1.5 percent, closing at 2,481.24.
30-year fixed rate at 5.85%; 10-year Treasury yield at 3.92%
Long-term mortgage interest rates increased Tuesday, and the benchmark 10-year Treasury bond yield climbed to 3.92 percent.
The 30-year fixed-rate average rose to 5.85 percent, and the 15-year fixed rate gained to 5.42 percent. Meanwhile, the 1-year adjustable rate increased to 5.9 percent.
The 30-year Treasury bond yield edged up to 4.64 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average gained 68.72 points, or 0.55 percent, finishing at 12,548.35. The Nasdaq rose 36.57 points, or 1.5 percent, closing at 2,481.24.
Thursday, May 22, 2008
Nashville Real estate /rates
Long-term mortgage interest rates increased Wednesday, and the benchmark 10-year Treasury bond yield climbed to 3.81 percent.
The 30-year fixed-rate average rose to 5.74 percent, and the 15-year fixed rate gained to 5.31 percent. Meanwhile, the 1-year adjustable rate fell to 5.87 percent.
The 30-year Treasury bond yield edged up to 4.54 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average plunged 227.49 points, or 1.77 percent, finishing at 12,601.19. The Nasdaq lost 43.99 points, or 1.77 percent, closing at 2,492.26.
Now is a great time to buy real estate in Nashville, TN. If you have any questions regarding the Nashville real estate market, please give a call at 615-376-4500 or send us an email at jennifer@homesaroundnashville.com.
The 30-year fixed-rate average rose to 5.74 percent, and the 15-year fixed rate gained to 5.31 percent. Meanwhile, the 1-year adjustable rate fell to 5.87 percent.
The 30-year Treasury bond yield edged up to 4.54 percent.
Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.
Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.
In other economic news, the Dow Jones Industrial Average plunged 227.49 points, or 1.77 percent, finishing at 12,601.19. The Nasdaq lost 43.99 points, or 1.77 percent, closing at 2,492.26.
Now is a great time to buy real estate in Nashville, TN. If you have any questions regarding the Nashville real estate market, please give a call at 615-376-4500 or send us an email at jennifer@homesaroundnashville.com.
Friday, May 9, 2008
Costly Home Seller mistakes to AVOID
To maximize your sale profit, here are the key costly home seller mistakes to avoid:
1 – DON'T HAVE A STRONG REASON FOR SELLING. As experienced real estate sales agents know, the most difficult home sellers are those who are not highly motivated to sell. Their attitude is, "I'll sell my home if I can get my price and terms."
These homes are often overpriced, wasting the time of the sellers and local realty agents. After a few weeks, local realty agents and their buyers quickly learn about these non-motivated sellers and avoid showing those residences.
But motivated sellers usually have strong sales reasons, such as moving to a retirement home, job relocation, birth or death in the family, purchase of another house or condo, divorce, unemployment, pending foreclosure, illness, or other strong reason to sell.
To avoid wasting time, savvy home buyers and their realty agents often ask, "Why is the seller selling?" If there is no strong motivation signal, such as a realistic asking price, buyers and agents won't even look at the home.
2 – SPEND CONSIDERABLE TIME AND MONEY RENOVATING YOUR HOME BEFORE SELLING. Another costly mistake of many home sellers is to make major home renovations shortly before selling. Such expenditures are usually a waste of money, rarely returning even $1 in increased market value for each $1 spent on improvements.
To illustrate, if your kitchen and bathrooms are outdated, spending thousands of dollars to bring them up to today's "model home" standards often results in little or no increased market value. Worse, the inconvenience of remodeling your kitchen and bathrooms is an experience most homeowners dread.
The only time it pays to renovate kitchens and bathrooms occurs if you plan to stay in your home at least five years to enjoy the improvements.
A far more profitable alternative is to thoroughly paint and fix-up your home to prepare it for sale. Paint is, by far, the most profitable improvement, often adding thousands of dollars to market value for a small expenditure of a few hundred dollars. Additional profitable but inexpensive home improvements include new carpets and flooring, new light fixtures, complete cleaning and repairing, and minor landscaping improvements.
3 – FAIL TO HAVE YOUR HOME PROFESSIONALLY INSPECTED BEFORE PUTTING IT ON THE MARKET.
The third costly mistake that most home sellers make is failing to have their residences professionally inspected before putting it on the market for sale.
The first inspection should be by a professional home inspector. The cost of about $350 is money well spent. Be sure to accompany your inspector to discuss any defects discovered. Home sellers often decide not to repair defects but disclose them to buyers and give a repair credit, if necessary.
Personally, I prefer home inspectors who belong to the American Society of Home Inspectors (ASHI), primarily because of their tough membership requirements such as experience, examinations, and continuing education. Local ASHI members can be found at http://www.ashi.org/ or phone 1-800-743-2744.
Your professional home inspector will also recommend additional or required pre-sale inspections, such as for termites, radon, building code compliance and energy efficiency. By having these pre-sale inspections, sellers can decide whether (1) to make recommended repairs, (2) give the buyer a repair credit (such as for part of the cost of a new roof), or (3) disclose the defect in writing, but let the buyer fix it.
4 – TRY TO SELL YOUR HOME ALONE WITHOUT FIRST INTERVIEWING AT LEAST THREE SUCCESSFUL LOCAL REAL ESTATE AGENTS.
The fourth major mistake many home sellers make is advertising their home "for sale by owner" (FSBO), called a "fizzbo," before interviewing at least three successful realty agents who sell homes in the vicinity.
Each agent's listing presentation should include explaining all the locally required home sale contracts and disclosures, as well as a comparative market analysis (CMA) form. The valuable CMA shows recent sales prices of comparable nearby homes, asking prices of similar neighborhood homes listed for sale (your competition), and asking prices of recently expired (usually overpriced) listings.
The agents you interview won't mind spending an hour or two showing you their listing presentation, such as explaining access to the local multiple listing service (MLS) and the Internet, even if you tell them you are considering selling your home alone to save the sales commission.
The reason is most FSBO sellers fail and, within 30 to 60 days, decide to list with a professional agent. Savvy agents who were already interviewed know they are likely to get the listing.
Approximately 80 percent of homes are sold with the help of a realty agent. Of the other 20 percent, many are sales to relatives and friends who don't require a professional agent's marketing services.
5 – OVERPRICE OR UNDERPRICE YOUR HOME. The fifth costly mistake many home sellers make is (a) pricing their home too high (most FSBOs do this), or (b) under pricing their home, leaving thousands of profit dollars on the table.
However, as a smart home seller who carefully prepared to maximize your sale profit, you won't make that error. By interviewing at least three successful local real estate agents, and comparing their CMAs and each agent's expert opinion of your home's market value, you will correctly set the asking price.
Some home sellers think a better alternative to determine the market value of their home is to obtain a professional appraisal report, usually costing at least $300.
While this approach can be valuable, especially if the home is unique without nearby recent comparable home sales, most appraisers work on past recorded sales price information rather than current up-to-date sales price trends. The result can be an inaccurate too conservative or too optimistic home market value appraisal.
SUMMARY: A successful home sale involves doing the right things right, such as preparing your home for sale by cleaning, painting, and repairing, and avoiding the five most costly mistakes explained above.
Tuesday, April 15, 2008
Nashville Inventory in March
HOME SALES DECREASE; PRICES RISE IN MARCH
There were 2,227 home closings reported for the month of March, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 28.7 percent from the 3,126 closings reported for the same period last year.
Numbers for the first quarter were 5,763 closings, down 27.8 percent from the 7,990 closings during the first quarter of 2007. "The number of closings is down significantly compared to last year, but the fact that home prices are rising is a good sign that the Greater Nashville market remains stable even in this time of market transition," said Mandy Wachtler, 2008 President of the Greater Nashville Association of Realtors.
"In some parts of the country, both closings and prices are down by significant percentages. When you take that into consideration, the real estate market in Greater Nashville is doing better than many cities and regions. And, there continues to be a lot of showing activity, which may result in more closings soon."
There were 2,308 sales pending at the end of March, compared with 3,218 sales that were pending at the same time last year. The median residential price during March was $178,388 and for a condominium it was $160,573. That compares with median residential and condominium prices at this time last year of $173,400 and $153,400 respectively. The average number of days on the market for a single-family residence was 80 days. Inventory at the end of March was 22,730. That compares with an inventory of 19,091 at the end of March 2007. Current inventory of properties by category, compared to the same time last year, is:
"The increase in inventory means that buyers will have more meaningful choices. That can be a positive factor as we move into spring and early summer, when typically more people are out shopping for homes," Wachtler said. "Sellers will want to make sure their home is in the best possible condition and priced correctly.
In a changing market,the professional support and counsel provided by a Realtor is increasingly valuable to those considering buying, selling or leasing property.
The Greater Nashville Association of Realtors® is one of Middle Tennessee's largest professional trade associations and serves as the primary voice for Nashville-area property owners and real estate professionals. REALTOR® is a registered trademark which March be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.
There were 2,227 home closings reported for the month of March, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 28.7 percent from the 3,126 closings reported for the same period last year.
Numbers for the first quarter were 5,763 closings, down 27.8 percent from the 7,990 closings during the first quarter of 2007. "The number of closings is down significantly compared to last year, but the fact that home prices are rising is a good sign that the Greater Nashville market remains stable even in this time of market transition," said Mandy Wachtler, 2008 President of the Greater Nashville Association of Realtors.
"In some parts of the country, both closings and prices are down by significant percentages. When you take that into consideration, the real estate market in Greater Nashville is doing better than many cities and regions. And, there continues to be a lot of showing activity, which may result in more closings soon."
There were 2,308 sales pending at the end of March, compared with 3,218 sales that were pending at the same time last year. The median residential price during March was $178,388 and for a condominium it was $160,573. That compares with median residential and condominium prices at this time last year of $173,400 and $153,400 respectively. The average number of days on the market for a single-family residence was 80 days. Inventory at the end of March was 22,730. That compares with an inventory of 19,091 at the end of March 2007. Current inventory of properties by category, compared to the same time last year, is:
"The increase in inventory means that buyers will have more meaningful choices. That can be a positive factor as we move into spring and early summer, when typically more people are out shopping for homes," Wachtler said. "Sellers will want to make sure their home is in the best possible condition and priced correctly.
In a changing market,the professional support and counsel provided by a Realtor is increasingly valuable to those considering buying, selling or leasing property.
The Greater Nashville Association of Realtors® is one of Middle Tennessee's largest professional trade associations and serves as the primary voice for Nashville-area property owners and real estate professionals. REALTOR® is a registered trademark which March be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.
Thursday, April 3, 2008
Green Homes
It's Easy Living Green
(ARA) - Everywhere you turn, there's something "green" - whether it's a commercial for a hybrid car or a reminder to pick up reusable bags at the local grocery store. The green movement is under way and concerned Americans are looking for ways to do their part to reduce energy use and pollution, and preserve natural resources.
Whether by changing their daily routines like biking to work instead of driving, or taking up a new hobby like planting trees in the community park, more and more Americans are going green. One aspect of the multifaceted greening of America is the building and buying of "green" or eco-friendly homes.
According to a recent survey conducted for McGraw-Hill Research and Analytics, consumers list environmental concerns among the top three reasons to purchase a green home, along with lower operating costs and health benefits for occupants. Across the country, homebuilders and homebuyers are realizing the benefits of green building and living, from reduced construction waste to better indoor air quality. Homes planned by green developers can also reduce utility bills by more than 50 percent, minimize pollution and demands on infrastructure, and provide greater environmental protection.
"It's amazing how small steps can add up to big results," says Fred Maas, president and CEO of Black Mountain Ranch LLC, the developer of Del Sur - a new green 1,800-acre master-planned residential community in San Diego, Calif. "For example, tankless water heaters are as much as 50 percent more efficient than conventional water heaters - and heating hot water is second only to heating and cooling in terms of residential energy use. If every household in the United States converted to high-efficiency, tankless water heaters, America could save the equivalent of 300 million barrels of oil a year and reduce annual greenhouse gas emissions by up to 150 million tons."
Similarly, replacing just one light bulb in each American home with an efficient compact fluorescent bulb could save enough energy to light more than three million homes for an entire year. This could save more than $600 million in annual energy costs and reduce greenhouse gas emissions by an amount equivalent to removing more than 800,000 cars from America's roads.
Residents of the Del Sur community are learning firsthand the advantages of green home features. Del Sur used its unique size and buying power - 2,500 market-rate homes and 469 low- and moderate-income homes - to negotiate lower prices for solar, tankless hot water and weather-based irrigation systems, making these energy-saving, environmentally-friendly features more affordable for homebuyers.
"All things being equal, homebuyers want to go green, but they don't want to pay a fortune to do so - and they shouldn't have to. Our vision of sustainability is to integrate a core set of 'attainable' green elements into our homes that do their part for the environment and increase value and savings for the consumer," says Maas. By providing homebuyers with green features at lower costs, homebuilders can help to reduce the nation's carbon footprint and preserve the environment without putting all of the burden on the homeowner. By taking advantage of available tax credits and incentives, it is possible to equip homes with solar photovoltaic technology to generate electricity at a reasonable cost, greatly reducing homeowners' electric bills.
"Our homeowners with solar power can draw power from the grid at night and make the meter spin backwards during the day," says Maas. "Some have cut their electric bills to nearly zero. When homeowners realize the savings, they really get a kick out of showing their new energy bills to neighbors and friends in the community.”
"When I see American families living the Southern California lifestyle in 3,000-plus-square-foot homes with gourmet kitchens and all the latest appliances - and their monthly electric bill is close to zero - I know there's no barrier to America going green," says Maas. "We're doing it here in San Diego and I think that, community-by-community, the entire nation can go green.”
Friday, March 7, 2008
FHA Loan Limits
FHA loan limits have increased from $226,100 to $432,500 in the Nashville MSA area. These increased loan limits are good through December 31, 2008.
Other news:
Mortgage bond prices opened higher Friday morning erasing some of the losses seen yesterday afternoon. Rates are finding support from weak economic news released at the open. In news released this morning, the unemployment rate stood at 4.8% and non-farm payrolls, fell 63k. Analysts expected unemployment to stand at 5.0% and for the creation of 25k jobs. The lower reading on the non-farm payrolls number has traders hopeful inflation may be contained.
Other news:
Mortgage bond prices opened higher Friday morning erasing some of the losses seen yesterday afternoon. Rates are finding support from weak economic news released at the open. In news released this morning, the unemployment rate stood at 4.8% and non-farm payrolls, fell 63k. Analysts expected unemployment to stand at 5.0% and for the creation of 25k jobs. The lower reading on the non-farm payrolls number has traders hopeful inflation may be contained.
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