Moving, Growing & Working for YOU…

The blog URL has moved to www.AndyBrownRealEstate.wordpress.com. Please visit me there to find real estate related solutions and feel free to contact me with any questions you may have. I am happy to help!

Andy Brown
www.SellNashville.net | www.BuyNashville.net

Would you rather have a part time attorney looking out for your business interest…

So why would you trust the search, negotiating and closing of your home purchase to a part time real estate agent.  One of my lending partners called and asked if I had trouble getting part time agents to call my office back in the transaction process.  Yes because a lot of times they are not available during regular working hours.  Our office thought about this and wanted to create a better way to communicate with our clients and business partners.  As an agent I may be working with you, showing a home or meeting at a client’s home discussing the market conditions and value of the home, however others may have questions.  The Team is set up to answer questions and handle issues even if the agent is on another appointment.  The support staff is well versed and trained to answer all types of Real Estate related questions.  Each member of the team has gained more experience in one year than most part time and full time agent will ever witness.  We have averaged over 300 happy buyers and sellers for the last 5 years.  So if you want to see if our concept will work for you send us an email or give me a call.

Andy Brown
(615) 301-7841
www.SellNashville.net | www.BuyNashville.net

Pre-approved or pre-qualified, is there really a difference?

Yes, there is a big difference.  Some real estate agents may not understand but others are very aware that it could be the difference between closing the sale and wasting everybody’s time.

Pre-qualified is to have a conversation with a loan officer or banker about roughly how much money you owe and how much money you make.  With this information they can give you an estimate of a mortgage payment that you could likely afford.  None of this information has been verified as true or accurate. 

Pre-approved is to have the bank or loan officer pull a credit history report and verify income through tax returns, W2’s, or employer verification.  They will most likely also ask for bank statements to verify proof of funds, that you have enough money for down-payment and reserves.  This process takes longer but creates a situation whereas you become like a cash buyer.  Once pre-approve all you will need is a Title search of the property and an appraisal to support the value of the sale. 

The best way to approach the home buying process is to be pre-approved from a good and honest lender.  I have several lending partners that I would be happy to recommend to help you start this process.  Simply call me now or visit www.BuyNashville.net.

Andy Brown
(615) 301-7841
www.BuyNashville.net

Buying a New Home Q&A

The first question many people ask when buying a new home is “where do I start?”  This is very easy to answer.  Studies show that 80 percent of people look online first when they begin their home search.  The problem with this is there are too many choices.  Every website you turn to shows you all the latest listings and you fall in love with a home before you know some critical information:  “How much can I afford and what am I willing to pay?”  Before you fall in love with the perfect house that cost way too much for your budget, call a real estate agent to find out how to start your home search on the right track.  A real estate professional will answer your questions and let you know how much you can afford and what you should pay.  Most have a network of mortgage bankers and lenders, insurance companies, inspectors, builders … you name it that can also help with any of your questions. Why not call an experienced agent for what is probably the biggest purchase you will ever make. Don’t go about it alone, call me at 301-7841 or visit BuyNashville.net or SellNashville.net to help with those unanswered questions.

Andy Brown

That New $8,000 Tax Credit

Last week, as the world knows by now, Congress passed a LARGE Economic Stimulus Bill, with the President’s signature expected this week. One of its features — a tax credit of up to $8,000 for “first-time home buyers” within a certain income range — is explained in greater detail via a special report, courtesy of TAR’s Governmental Affairs Department. Call now to receive this no obligation report.

 

Andy Brown

Office (615) 301-7878 I Direct (615) 301-7841

Helpful Tax Information

On December 16^th, the Internal Revenue Service jumped on board and announced relief
for homeowners who are in over their heads (IR-2008-141).

According to the IRS, “If taxpayers are looking to refinance or sell a home and there is a federal tax lien filed, there are options. Taxpayers or their representatives, such as their lenders, may request that the IRS make a tax lien secondary to the lien by the lending institution that is refinancing or restructuring a loan. Taxpayers or their representatives may request that the IRS discharge its claim if the home is being sold for less than the amount of the mortgage lien under certain circumstances” (www.irs.gov).

IRS Commissioner Doug Shulman said, “We realize these are difficult times for many Americans.  We will ensure we have the resources in place to resolve these issues quickly and homeowners can complete their transactions.”

According to National Tax Relief, “… a lien essentially gives the government legal claim to the taxpayers’ property as security for a tax debt, preventing the owner from being able to sell those assets without authorization or release by the IRS.”

 

If you are interested and do not know where to turn, contact The DeSelms Team and RE/MAX Elite and we will help guide you in the right direction.

 

Filing a Notice of Federal Tax Lien is public notice to your creditors that the federal government has a claim on the property. 

 

For information about how to apply for a certificate of lien subordination visit www.irs.gov  and follow directions in Publication 784, How to Prepare an Application for a Certificate of Subordination of a Federal Tax Lien.

In some cases where a lien was released, the homeowner will be required to make a repayment plan.  If you are considering purchasing a home, have your agent, check the title; without a tax lien discharge, the previous taxpayer may be unable to complete the home ownership change and the title will not be clear.  Publication 783, Instructions on How to Apply for a Certificate of Discharge of a Federal Tax Lien.
 
In 2008 there are more than one million federal tax liens outstanding tied personal property; these liens are preventing homeowners from refinancing or selling personal property.  In you are one of these homeowners and are looking for advice, guidance, or information reguarding a lien visit www.irs.gov or call Andy Brown and The DeSelms Team. 

To apply for a tax lien discharge, applicants must follow directions in

First Time Home Buyers

Buying a home for anyone is a tremendous accomplishment. 

 

Andy Brown and The DeSelms Team have noticed a change in their buyer profiles over the last several months. While married couples make up the majority of home buyers in the Middle Tennessee area, single women are coming out in droves to invest in properties. 

 

According to the National Association of Realtors one in five buyers in today’s market are single women. 

 

“Single women have a particularly strong sense of home ownership as a good investment and an inherent appreciation of what it takes to build a nest-egg and wealth over time,” it was stated in a report from the National Association of Realtors.

 

A Harvard University study by the Joint Center of Housing Studies found there are three factors that attribute to the increase in single women homebuyers, “today there are more unmarried women in the population, more women are delaying marriage until later, and more women are forming their own households.”

 

The DeSelms Team I RE/MAX Elite is actively working with 16 single, first-time women home buyers.  The majority of these buyers are looking for single family homes, close to work, and in safe neighborhoods. 

 

If you are considering purchasing a home within the next six months give Andy Brown and The DeSelms Team a call.  The market is wide open to you; with over 109 residential properties and 23 condos/town homes The DeSelms Team has a property in Middle Tennessee that will match your needs.  Andy Brown can also help you attain financing and potential down payment assistance. 

 

For a free home evaluation, guidance, or answers to questions visit www.BuyNashville.net.

Now really is an excellent time to buy!

Nashville home sales are down; agents across the country have been hit with a slow market epidemic and while this is nothing new if you watch the news, the slow market has finally reached the Middle Tennessee area.

 

According to the Greater Nashville Area Association of Realtors there were 1,748 home sales in October, a decrease of 29.7 percent from the 2,487 closings during October of last year. And, there were 21,581 closings year-to-date in 2008, a 27.7 percent decrease compared with the same period in 2007.

 

GNAR president, Mandy Watchtler said in an October Press Release: “The number of closing for October are down at a rate consistent with recent trends.  The same is true for the median price of a home.”  In 2008 there were 1,504 sales pending at the end of the month, compared with 2,428 pending sales at the same time last year. GNAR “Election and Financial Crisis Action May Prompt Future Home Sales Activity,” October 2008. 

 

The DeSelms Team I RE/MAX Elite closed 23 properties in October of 2007 and 21 properties last month. 

 

But, fear not Nashvillians. Now really is an excellent time to buy.  If you are ready to start looking for a new home; call Andy Brown and The DeSelms Team.  We would love to help you get started on your home search.  The DeSelms Team can also help you choose a lender and make suggestions on loans.  If you have been considering buying a home, give us a call and we will give you the education and tools you need in order to make your decision. 

 

As a seller it is scary to hear that your home may not be worth what you think that it is, but our job is to make your home the best house in its competition.  The DeSelms Team strives hard to selling homes quickly and for the most money possible.  If you are in a position where you need to move visit www.BuyNashville.net. You can request information about our team. 

 

If you have any questions about the site or the team’s services call The DeSelms Team directly at (615) 301-7878.

Buying a Home in a Down Market

This just in, excellent news for home buyers: Forbes recently released the “Most and Least Expensive Cities for Homeowners” and Nashville was voted as one of the top ten least expensive cities to own home.  The cost of home ownership, partnered with excellent school systems, and low property tax continues to make Middle Tennessee a desirable location of growing businesses, corporations and families. 

 

According the Greater Nashville Area Association of Realtors there is over a twelve month inventory of homes in the Middle Tennessee area, you have so many options when you are interested in purchasing. 

 

Unfortunately buying a home isn’t just buying a home and that’s where Andy Brown and The DeSelms Team come in. 

 

Preparation.  First, you probably want to check your credit and see where you stand.  Credit scores range from 800 being excellent to 500 being fair.  With tougher mortgage standards, you want your credit to be as close to excellent as possible.   Another step you should take is interviewing real estate agents.  You want to find an agent who is familiar with different types of homes (i.e. condos, townhomes, single family) and different areas of Middle Tennessee.  The DeSelms Team has helped more families buy homes in Middle Tennessee than any other agents in the area.  If you are starting the process, call Andy Brown today or check out www.BuyNashville.net  for a list of the most recent properties in middle Tennessee. 

 

Loans.   When the mortgage industry tightening up on loans; don’t fear.  Shop around … See what kind of loan is best for you and your situation.  There are so many options out there, call your mortgage lender and ask what you could qualify for.  While 100% loans are no longer an option, federal programs have good options for first time homebuyers, check out The Housing Fund at www.nashvillehousingfund.org.  There is also a $7,500 tax credit available for first time buyers, visit www.federalhousingtaxcredit.com for more information.

 

Showings.  Narrow down your criteria.  Nail down an area of town, a style of house, and a price range.  It would also be smart to drive by all the houses that you think you may be interested in, before actually scheduling showings.  Once your agent sets up showings for you, you should try to see less than eight properties … You want to be sure to remember what you are looking at.  Have your camera and notepad available.  Take pictures, take notes. 

 

Hidden Fees.  Well, there are not really hidden, just often times unexpected.  You should be prepared to pay earnest money, home inspection, appraisal, and possible down payment costs.  While most times the seller’s will pay the buyer’s closing costs, title search, and termite; there are still things that the buyer will be responsible for.  While most of these expenses are not that expensive, you should be prepared. 

 

Patience. While sometimes you can buy and close on a home within thirty days that is not very realistic.  But, don’t worry, if you are in hurry Andy Brown and The DeSelms Team can help expedite the process.  In most cases, however, you should be patient with the inspections, the loan process, and the closing date.  The DeSelms Team has a staff of closing coordinators to walk you through the process and make it as smooth as possible for your purchase. 

 

For a free home evaluation, guidance, or answers to questions visit www.BuyNashville.net.

 

 

 

 

Selling Your Home in a Down Market

According to the Greater Nashville Association of Realtors there was 19.8% decline in closings from September of last year.  However, the DeSelms Team and RE/MAX Elite continue to stay on top of the declining market … We closed 28 homes in September of 2007, and, 28 homes in September of 2008. 

 

But, don’t think it was easy. 

 

With an ever decreasing real estate market, an unstable economy, and uncertain presidential election looming everyone is glued to the news.  STOP!  Turn your TV off.

 

If you were considering selling your home, maybe you shouldn’t dismiss that thought, maybe you just need to take certain precautions to ensure you home is the best in its class. 

 

Forbes recently released the “Most and Least Expensive Cities for Homeowners” and Nashville was voted as one of the top ten least expensive cities to own home.  The cost of home ownership, partnered with excellent school systems, and low property tax continues to make Middle Tennessee a desirable location of growing businesses, corporations and families. 

 

With over a twelve month inventory of homes in the Middle Tennessee area, you have to be smart when listing you home.  That’s where Andy Brown and the DeSelms Team come in. 

 

Price.  The most important thing a homeowner can discuss with their realtor is setting their price.  In a slow market, price is the most important thing you can do to attract buyers.  Andy Brown will provide you with free home evaluation if you are interested in knowing the value of your home. 

 

Clean.  You should also make sure that your home always looks its best.  Make the beds, take out the trash, open your blinds, and make sure everything is in working order.  Buyers are looking in your closets, your cabinets, and turning on every light in the house … They want to be able to imagine your home, as their home.  You want to make sure everything is perfect (or as close to as possible).  If you have questions about doing home repairs or updates call Andy Brown, he will be happy to come to your home and discuss what your best options are, before you put your home on the market. 

 

Showings.  Sure, showings are inconvenient, but try to always make your home available for any buyer and their agent.  You never know when the right buyer will want to walk through your door, so be prepared at all times, and always have some place to be.  Most times, buyers do not feel comfortable walking through a homeowner’s house, if they are there.  The DeSelms Team prides themselves on getting feedback from your showings.  We call the buyer’s agent three times and email them three times in order to find out what their client thought of your home.  A lot of times you can’t do anything about the feedback; but you can listen to what the market is telling you.  Sellers don’t set the price of the home, buyers do. 

 

Patience. Patience really is a virtue when it comes to having your home on the market.  It is important to do what is best for you or family, but to also trust your agent. They are working for you.  Ask questions.  Be pro-active. 

 

If you were thinking about putting your home on the market give Andy Brown and The DeSelms Team a call, we can help guide you in the right direction. 

 

For a free home evaluation, guidance, or answers to questions visit www.SellNashville.net.