Okay, you didn’t win $350 million lottery – so now it’s time to get serious about buying a home.  It can be very frightening to buy a home.  Whether it’s your first home, or your third, so much is at stake — your savings, your credit rating, and your financial freedom.  I have a friend from high school days who has never purchased a home.  He’s always rented.  Let’s see, why would he do that?  The answer is complex but the bottom line was that he was afraid to make the commitment to purchase a home.  Yet, he and I have figured out that he had been paying just as much to rent a home as he would have to buy a home.  He felt pretty embarrassed that he’d been afraid and had wasted a lot of money over the years. 

If you don’t want to end up like my friend and you do want to move into your own home, how do you get started on this journey towards homeownership? 

As a first step, make a careful assessment of the kind of a home you need and want.  It is helpful to write down things that you just cannot live without (three bedrooms, three baths), things that you would really like to have (an office), and things that are optional, but would be nice to have (a pool).    Take time, right now, to be as specific as you can about your particular requirements.  This list will really help you as you begin to sift and sort through the current housing inventory.  Many buyers get confused after walking through many homes.  If you have your list, you can always compare your list with the homes you’ve seen and eliminate those that don’t meet your criteria.

Next, you need to decide how much you can afford taking into account your plans for the future.  Sometimes people buy able their comfort level and find themselves, house poor.  This means that they have a very beautiful dream home but no money left over for dining out, clothes, furniture, or travel.  Set up a budget for yourself. Decide how much you can really afford to invest monthly for your house payment.  It pays to be realistic in your budgeting. Most Lenders want your payment to be no more than 28% of your total monthly income.

The third step is to get pre-approved for a mortgage.  You can save yourself a lot of time and heartache by meeting with a Lender before you start your search for a home.  If you have some credit issues, they can place you on the path to getting your scores up to an acceptable level.  Being pre-approved let’s you know exactly the costs involved in your purchase and will let you spend your time looking at homes in the correct price range. 

The fourth step is to employ a REALTOR to assist you with your search, the negotiations, and the successful close to the transaction.  This means signing a Buyer Agency contract…just like when you sell a house, you need your own REALTOR who will protect your interests and act as your fiduciary in the home buying process. 

Finally, after all that work you are now ready to go look at homes.  Here are a few tips on how to successfully house hunt:

1) Keep an organized record of all your research data. Write down comments about the homes that you see. Keep track of your likes and dislikes.

2) Make sure your REALTOR is aware of your time schedule and expectations. Do you like to look at one or two homes in a session? Four? Eight?

3) Tell your REALTOR about any homes you see that interest you and that you’d like to know more about.  This includes homes you’ve “discovered” as you’ve explored the area yourself, or those advertised in the newspaper. 

4) If you like to spend time driving around by yourself looking at homes, ask your REALTOR for a list of drive-bys — homes to consider first from the outside.  Your REALTOR can make appointments later to show you the interior of those that appeal to you.  Take your REALTOR’s card with you to model homes and open houses.  

5) Express your likes and dislikes to your agent after you look at a home. Honest communication is essential.  Many buyers are shy and afraid to tell the REALTOR what they really think of a house. They think the agent might take it personally. Remember, the homes don’t belong to the REALTOR and your REALTOR is representing you, not the seller of the home!  You must be straightforward about your likes and dislikes in order for the agent to do the best job for you.

When you find the home of your dreams, your REALTOR and lender will take charge of the details of the transaction.  Before you know it – you’ll be in your new home, with a great tax deduction and the confidence that you’ve made a great decision.

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The Williamson County office of Economic Development has launched a new website specifically for new entrepreneurs in Williamson County.  The site, www.WilliamsonInnovates.com, targets entrepreneurs wanting to start businesses in Williamson County and celebrates those who have.  The launch coincides with Global Entrepreneurship Week.  Additionally, the Williamson County Office of Economic Development is partnering with Franklin Tomorrow to hold “Breakfast with the Mayors,” presented by First Farmers Bank, that will feature a panel of entrepreneurs including Mark Cleveland, CEO of Swiftwick, CeCe Moore, CEO of SweetCeCe’s Frozen Yogurt, and Michael Burcham, director of the Nashville Entrepreneur Center on November16, beginning at 7:30 a.m., on the first floor of the Corporate Centre 9 building, 6550 Carothers Parkway in Franklin. This event is free and open to the public.

The news release from the Williamson Herald stated in part, “In 2009, Business Week named Franklin “one of the Top 50 U.S. Small Cities to Start a Business and, citing 4.49 startups per 1,000 people, which ranks in the top 10 nationally ahead of the Raleigh, NC suburb Cary and the Seattle, WA suburb Bellevue. In fact, 52% of Williamson County residents over the age of 25 have at least a bachelor’s degree, 21% of the workforce is classified as entrepreneurs, and so far 1,070 business licenses have been filed in Williamson County this year.”

Wow, no wonder that Williamson County is such a great place to live, work and raise a family!

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This weekend has been unbelievable in the Williamson County area.  Friday was a beautiful, perfect spring day.  Saturday and Sunday were dark days punctuated by the piercing sounds of tornado sirens.  Cute babbling creeks quickly became raging rivers and raging rivers became strange, swirling, muddy lakes.  Many of our clients, neighbors and friends who lived in relative security above the 100 year flood plain suddenly found their homes, cars, and themselves quite literally underwater.   This week, many will spend their week trying to determine what to do next.  Here are some things you may want to consider:

1.  Before You Enter Your Home

Gather supplies – Pen, notebook, cell phone, thick rubber gloves, boots, waterproof cover-alls, camera or video camera, tools, plastic tarps

Call your insurance company.  Be patient, remember that they will be inundated with phone calls.  You will be given a claim number.  Write it down and keep it.

Take your camera or your video camera and walk completely around your home taking pictures from every angle. 

Look closely at the electrical service.  Make sure there are no downed wires anywhere around your home. 

Look closely at your foundation.  Make sure the foundation has not shifted or looks unstable in any way.

Find the main utility supplies for your home.  Turn off the water service, Turn off the electrical service, Turn off the gas service to your home. 

2.  Enter Your Home

Before you enter your home, put on your protective garments.  Flood water may have been contaminated with raw sewage, gasoline from mowers, etc.

Carefully enter your home with a friend.  Look around and make photos and notes in each area.  Remember water may have brought aquatic creatures into your home along with mud and debris.

Secure your home and remove valuables.  Look for broken windows or doors and secure with plywood sheeting.

3.  Beginnning the Restoration Process

Don’t hire the first person who shows up.  Unfortunately, there may be unscrupulous contractors who are drawn to your tragedy.  Ask your insurance company, your Realtor, your friends for recommendations.

Try to remove as much water soaked materials from your home as quickly as possible.  Many types of furniture can be saved if placed on a plastic tarp outside to dry.

Remove as much standing water as possible.

Place fans and dehumidifiers inside your home as quickly as possible.  Keep the house well ventilated when you are running sump pumps or any gasoline powered machinery.  Remember they may produce carbon monoxide.  

Act as quickly as you can to prevent further damage from water.   

This will be a very stressful time for you and your family.  Remember to take frequent breaks, find some stress relievers -laugh at the antics of children, keep yourself well hydrated, and eat nutritious meals.  Most of all, take comfort in the thoughts and prayers of your friends and neighbors.  There will be many moments of gratitude amidst the sorrow.  Relish them!

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Brentwood Tennessee is a great place to live, play and work, especially if you are interested in Real Estate like I am! In Brentwood, you will find great homes and a great community, with easy access to the the “big city” of Nashville, located to the North, just outside of Williamson County.

To me, the best part of moving to Brentwood is its family environment.  Brentwood neighborhoods are noted for their family focus and neighborly involvement.

Another great feature of Brentwood Real Estate is the beautiful scenery. You’ll find fantastic views and vistas hills and valleys. Brentwood has very strict zoning and planning ordinances, ensuring that the beauty will remain indefinitely.

Brentwood is built around a parks system that is interconnected with walking trails.  There is a beautiful public library with a separate children’s library.  There are golf courses, tennis courts, equestrian activities, fitness centers and more. Regardless of how you like to spend your time outdoors or what kinds of activities you enjoy participating in, you’ll be able to find great activities in Brentwood. With access to the walking trails, many families in the community enjoy long jogs or bike rides, and there are innumerable fitness activities you can participate in.

Of course schools have to be of concern for anybody with a family, and Brentwood has both elementary and middle schools within walking distance. The school system is extremely high quality, and neighborhood playgrounds and parks add to the family-friendly environment.

This is truly an ideal town, where both crime and pollution are low. Brentwood has many specialty boutiques for the discerning shopper as well as big box stores like Stein Mart, Office Depot, TJ Max as well as Old Navy and Best Buy. For all of these reasons, Brentwood is a highly sought after community, and you’ll be hard pressed to find a better choice.

There are many fantastic houses for sale in the Brentwood area right now with prices ranging from $300,000 to sumptuous higher end homes that accommodate your discerning tastes. Many homes in Brentwood are on larger one acre lots.  At the higher end are many two or three story homes, with some of the houses in the area famous for their architectural design. If you are looking for all the amenities, Brentwood homes offer gourmet kitchens, basements, and media rooms on gorgeous lots with views. Modern combinations of classic Southern style are available in most price ranges.

Let me show you why Brentwood Tennessee would be a fantastic choice for you and your family.

Kathie Moore (615) 351-4736

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Mid Tennessee Market Statistics November 2009

I find that a lot of my clients like to know the real estate sales statistics for the Middle Tennessee sales area. We update this sales statistics information on a monthly basis and it covers the whole Mid-Tennessee MLS area, BUT if you would like have local information for your area (or even neighborhood), I am always happy to help!

For the month of November 2009, there were 238 residential and condominium closings reported for the month of November, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.

Compared to November of 2008, the single family residential closings increased by 62 percent and the median price decreased by 12 percent. Condominiums closings have increased by 87 percent and the median price increased by 27 percent. The average days on the market (DOM) for residential homes have increased by 2 days and condominiums have increased by 38 days. The median is a typical market price where half of the homes sold for more and half sold for less.

November has been traditionally a very slow month for real estate transactions. This November has been much more active than usual. With the extension and expansion of the Homebuyers Tax credit, I believe that the winter closings will be higher than in the past few years as existing homeowners and new buyers rush to take advantage of the credit before April. The recent announcement of the Home Buyer’s Tax Credit extension and the expansion to include existing homeowners who have owned their homes for five or more years will fuel sales for the next few months. Move-up homeowners can receive a $6500 tax credit on the purchase of a home if they have lived in the home for five consecutive years out of the past eight years. This tax credit requires a contract date of April 30th; call me today to begin the process 615-351-4736!

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