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Well, we haven't been blogging for the last few months - mostly due to time constraints. After a lot of thought, we have decided to shut down the JoeBurtonSells real estate blog and move to Twitter and Facebook exclusively.
In between real estate, flood rebuilding and starting a new business we just don't have enough time to spend on our blog anymore.
If you are on Twitter and/or Facebook, we would love to connect with you on there! Thank you for reading our blog the last few years...we greatly appreciated it!!!
If you ever have a real estate question, or need an amazing Realtor, please feel free to email us anytime.
Sincerely,
Shandy Burton and Joe Burton
Email:
{Shandy} shandyb@realtracs.com
{Joe} josephburton@realtracs.com
Twitter: joeandshandyre
Facebook: FacebookJoe Burton - Nashville Area Realtor
P.S. I (Shandy) am starting a jewelry design business called Shandy Nicole Designs - all pieces are designed and handmade by me. I will be launching, soon! Check it out here: www.ShandyNicole.com
We've picked out a few HUD homes to share. All three are in great locations - close to freeways, schools and Downtown Nashville.
This home is located in historic East Nashville and recently appraised for $180,000 - now listed for $162,000. This home needs some work, but can be financed through FHA with repair money in escrow! It has 2 or 3 bedrooms, 1 full bath and over 1,700 square feet. It was built in 1935 and is situated on a 0.20 acre lot. Great location - only minutes to trendy and eclectic 5 points as well as Downtown Nashville! Perfect for a fist-time buyer who doesn't mind putting in a little sweat equity!
Interior features include hardwood floors, a utility room and central heating/cooling. This home is being sold as-is/where-is. HUD requires a $1000 earnest money deposit.
The next HUD is located in South Nashville in the Bradford Hills subdivision. It was built in 1992 and is situated on a 89 x 79 sized lot. Great for a first-time buyer or step-up buyer.
It features 3 bedrooms, 2.5 baths and well over 2,000 square feet! Additional features include central heating/cooling, fenced backyard, back deck, kitchen with breakfast nook, beautiful bay window in the living room and much more!
Currently listed for $203,500. This home is being sold as-is/where-is and requires a $1000 earnest money deposit. Can be financed via FHA or conventional mortgage.
The last HUD we are featuring today is located in South Nashville as well. This home is located in the Classic Meadows neighborhood and was built in 2005.
This home features 4 bedrooms, 2.5 baths and 2,340 square feet...perfect family home! Interior features a spacious kitchen, entry foyer, den, 2nd floor bonus room, neutral finishes, a fenced backyard and much more!
This home is also being sold as-is/where-is. HUD requires a $1000 earnest money deposit. This home can be financed via FHA or conventional. Currently listed for $212,000.
If you're interested in purchasing a HUD home, please feel free to contact us anytime with questions or to schedule a showing. 615-714-6927 or josephburton@realtracs.com
VERY RARE BRENTWOOD HUD FORECLOSURE! 4 Bedroom Home With Over 2,800 Square Feet, Full Finished Basement, Fireplace, and a 2-Car Garage. Has Great Potential!
Located in the Brentwood Hills subdivision off of Franklin Road. This home was built in 1988 with 4 bedrooms, 2.5 baths and over 2,800 square feet. Features a formal living and dining room, separate den, rec room, full finished basement and an eat-in kitchen. Does need updating and some repairs, but can be financed via FHA or conventional mortgage loan.
Take advantage of low interest rates and tax credits - $8000 for first time buyer (or those who have not owned a primary residence in 3 years) or, $6500 for step-up buyers (those who have lived in their current home for at least 5 years)! Great financing options are available right now with an FHA loan that don't require a huge down payment. This is a HUD Owned Property -- HUD requires a $1000 earnest money deposit. Home is being sold "as-is"/"where-is".
HUD is Accepting Daily Bids/Offers!
~ List Price: $370,000
~ 4 Bedrooms
~ 2.5 Bathrooms
~ 2,817 Square Feet
~ Built in 1988
~ 154.2 x 262.46 Lot
~ 2-Car Garage
Please Feel Free to Contact Us for More Information, or to Schedule a Showing!
Interest Rates Are Under 5%, Again!
As of the end of last week, Freddie Mac is reporting that mortgage interest rates remained below 5% percent! The average interest rate on a 30-year fixed loan was around 4.95% - down from 4.97% reported the previous week.
Interest rates on 15-year fixed loans were averaging 4.32% - those are down slightly from the previous week.
We've said it before, but now is a GREAT time to buy! The combination of low (below 5%) interest rates, tax credits and good inventory make it an unbelievable time to purchase a new home. Remember, the tax credits expire on April, 30th (must be under contract by 4/30 and close on your new home by 6/30).
BIG Auction taking place Saturday, March 13th at 11am in Hendersonville! This is an ABSOLUTE AUCTION...NO MINIMUM - ABSOLUTE HIGHEST BID WINS REGARDLESS OF PRICE!
Selling to the highest bidder with no reserve!
Renovated lakefront home in Hendersonville with covered boat dock & personal property. The home is situated on a 1.7 acre level lot and features 4 bedrooms; 3 baths; almost 3,800 square feet; an in-ground salt water pool; kitchen with granite, stainless appliances and a gas stove; hardwood floors; open floor plan and much more!
- Located in a highly desirable neighborhood.
- Great location...only minutes to great schools, Indian Lake Village & the By-Pass.
- Old Hickory Lake boating access to Downtown Nashville.
If you would like more information - or to register for the auction - please contact us at 615-714-6927 or josephburton@realtracs.com
OPEN HOUSE THIS SUNDAY, FEBRUARY 28TH FROM 2-4PM!
$225,000 PRICE REDUCTION -- Now Listed for $874,900!!
Exquisite estate home situated on a 2.7 acre lot in Franklin - Williamson County! The interior features absolutely stunning architectural details and finishes throughout.
Enjoy custom closets in each bedroom - gleaming hardwood floors - custom iron handrail - gorgeous views - gourmet kitchen with granite counters, oil-rubbed bronze fixtures, a gas range and spacious walk-in pantry - two master bedrooms (upstairs and downstairs) - stunning entry foyer with a custom, double front door entry - 4 car garage - separate side entry into study - wrap around porch - custom tile work - massive moldings and architectural columns - built in bookcases and much, much more.
This home is absolutely stunning in person!!
Located only minutes from downtown Franklin, Cool Springs, I-65 and Brentwood! Zoned for the award-winning Williamson County/Franklin school district.
It is currently featured on the Top Ten Luxury Real Estate Deals List. Price per square foot is much less than other homes that have sold in the neighborhood - this is the only home for sale in Durham Manor!
- $874,900
- 4 Bedrooms
- 3 Full Baths, 2 Half Baths
- 5,400 Square Feet
- 2.7 Acre Lot
- 4 Car Side Entry Garage
- Two Fireplaces
- Formal Living and Dining Rooms
- Rec Room
- Den
For Additional Photos and Information, Please Visit Our Website: www.JoeBurtonSells.com
We hope to see you there! : )
We came across several GREAT buys in East Nashville today...
- Circa 1910 historic home that has been reduced more than $80,000!! Now priced below appraised value. This charming home features 3 bedrooms, 3 baths and 2200+ square feet. It's located within walking distance to 5 points and has updated electrical, new plumbing and new windows. List price is now $328,000.
- Exquisite, historic home built in 1889 that has been reduced more than $200,000!! Features include 12 foot ceilings, antique fixtures, built-in wet bar, in-ground pool and a detached guest house. Home has 4 bedrooms, 3 baths and over 4,000 square feet. Now listed for $699,000.
- Foreclosure in need of some TLC. This quaint historic cottage was built in 1923 with 4 bedrooms, 2 baths and almost 1,800 square feet. Recently reduced to $127,900! The last homeowner paid $149,900 3 years ago.
- Motivated seller!! 1930s bungalow priced well below tax appraisal! Listed for $160,000; tax appraisal is $245,600! Features include updated plumbing, updated electric, new roof, built-in bookcases, built-in china cabinet and window seat, charming french doors and two footed bath tubs.
- Short sale! Circa 1936 classic brick bungalow. Located two blocks from Shelby Park. This home features original oak hardwoods and fireplace. 3 bedrooms, 2 full bathrooms. Home is in need of some updating. Priced well below current tax appraisal of $295,500 -- list price is $199,900!
-Another short sale! Listed for $260,000; tax appraisal is $318,900!! This home was featured on the Historic Edgefield Tour of Homes in 2006. It's a stately craftsman bungalow that has been recently renovated including plumbing, gas lines, electrical and roof (all replaced in 2005).
Foreclosure listing! This historic bungalow was built in 1920 and is currently listed for $309,000. Features include an open kitchen and living area, 2-room master suite, den/4th bedroom, unfinished basement and 1-car garage. This home has been renovated with all new HVAC, electrical, plumbing, hardwood floors, kitchen and bath!
If any of these interest you - or if you are looking for a home in East Nashville, please feel free to contact us anytime. This is a great time to buy - low interest rates, good buys and tax credits!!
We found several GREAT buys today in Franklin and Brentwood!
- Foreclosure in Westhaven: Gorgeous home built in 2007 with 5 bedrooms, 3.5 baths almost 5,700 square feet and a full unfinished basement. Listed way below market!!
- A new short sale listing in prestigious Princeton Hills located in Brentwood: Priced near current tax appraisal and way below what the current owners paid in 2007. This custom built home has 5 bedrooms, 4.5 baths with 4,800+ square feet and a 3-car garage.
- A bank-owned (REO) foreclosure in Fieldstone Farms: Listed for $465,000 which is $81,600 below the current tax appraisal!! This home has 5 bedrooms, 3.5 baths and over 4,600 square feet with a full unfinished basement. It's located in one of the gated sections of Fieldstone Farms...very convenient location.
- Good buy in coveted Brentwood neighborhood of Deerwood: Listed $50,000 below current tax appraisal! This home has 5 bedrooms, 3.5 baths, 5,000+ square feet and is situated on a 3 acre lot. Features include an indoor exercise pool, elevator and separate nanny/in-Law apartment.
If you are interested in any of these - or looking for a "good buy" - please feel free to contact us anytime.
If you re wondering how many building permits are being pulled compared to years' past, check out the NAHB website. You can find state and local data regarding building permits and much more. Very informative site!
According to the chart, it looks like Nashville-Davidson County-Murfreesboro building permits for single family homes is down year-to-date 28% in 2009, compared to 2008.
Interesting news from the Tennessee Association of Realtors and the National Association of Home Builders...
"Houses are getting smaller. Data recently released by the National Association of Home Builders (NAHB) found the average size of a new home that was completed in 2009 fell to 2,480 square feet from 2,520 square feet in 2008. The last time the average completed-home size fell by a statistically significant amount was 1982."
We definitely see that here in Nashville. A couple of reasons would be housing costs, especially in certain areas and energy costs (heating, cooling, etc.). Thought that was interesting information. Good to know for resale purposes; this trend will probably continue for a while.
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Price reduced to $149,900! Perfect home for a first time buyer. Remember to take advantage of low interest rates and the extended and expanded tax credits before they expire on April 30th!
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Features include high ceilings, an open floor plan, all rooms on the main level (except the bonus room), neutral and modern colors and finishes, great natural light and lots of storage space! Great location...only minutes to Brentwood, Franklin, Downtown Nashville, shopping, schools and more.
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- 3 bedrooms
- 2 bathrooms
- 1,702 square feet
You can find additional photos and information on our website: www.JoeBurtonSells.com
Some great advice from Point2 on searching for a mortgage lender. We will be posting more information about the mortgage process in days to come...
Consider the Different Lenders -
Not all lenders are created equal, as they all offer varying options and operate in different ways. When choosing a lender, consider the lender's rates, the type of property you wish to buy, and your personal needs, as these areas will be most affected by your choice.
Commercial Banks - offer a wide variety of loans and mortgage services, and you have likely already dealt with one or more banks in your lifetime. Considerations: their primary source of business is not real estate loans; their rates are competitive; your financial 'life' may already be invested in a particular bank that you have dealt with over recent years; maintaining a checking or savings account at that institution may qualify you for special discounts or incentives through them.
Credit Unions - are formed by a group of individuals with like interests and are thus viewed differently than a commercial bank, which provides some tax and benefits that institutions do not see. This provides very competitive interest rates and better chances for their members to be granted mortgages within the credit union. It is important to note, though, that to obtain a mortgage, you will need to meet qualifications to become a member of this group.
Mortgage Bankers - work for commercial banks, but often represent multiple banks all at once. The loans they offer are chosen from the bank that will provide the mortgage that is best for the buyer. Key considerations: fees are generally set by the bank and are not negotiable; available mortgages are limited to those offered by the banks; the mortgage banker does not necessarily have to be licensed to provide this service. It is important to find out if they are licensed and what that means in your market area, what banks they represent, and what mortgage options are available to you.
Mortgage Brokers - work as a middle man between the borrower and lender of the money, sometimes operating with hundreds of lenders who finance mortgages. Considering their network of lenders is large and extensive, there are variances as to how the mortgage broker will work with some of them. It is important to ask what fees are paid by the buyer or the lender or both; if the loan is at 'par', which means the buyer does not pay a fee; if the mortgage broker is acting as an "up-front" broker, which means they charge the buyer a fee for obtaining the lowest interest rate and fees.
Savings and Loan Associations - these Associations take deposits from customers, put them into savings or money market accounts, and then pay interest on them. Their primary source of business is real estate loans in the residential sector through construction, purchase, or home improvement. Obtaining a mortgage through this lender can sometimes be easier than a commercial bank due to this focus on residential real estate.
Stock Brokerages and Online Lenders - companies that handle mutual funds or online savings often also provide mortgages. Online lenders deal strictly through their websites and email, so if you prefer one-on-one contact with your lender, an online option may not be your best choice. Some things to consider for online lenders are also the reputation and recognition of the lender's name. Look for companies with secure sites (they have a privacy policy, confidentiality policy, little locks around information inputs, etc) and be wary of any company that seems 'shady'.
Private Individual Lender - anyone with money can lend it, provided that they follow regulations regarding interest rates, fees, disclosures, confidentiality, etc. Since this is a person-to-person loan, it might be tempting to agree to things verbally: this may cause issues later in the process, so it is advisable to get everything in writing, similar to the other lender processes. Ensure that questions relating to payment processes are outlined and clear, as well as if the interest rate is fixed or variable.
~ Tanya Spilchak, Education Coordinator
Don't forget, we are having an OPEN HOUSE Today January 24th from 2-5PM! 2401 Durham Manor Drive: Franklin, TN 37064
$225,000 PRICE REDUCTION -- Now Listed for $874,900!!
Exquisite estate home situated on a 2.7 acre lot in Franklin - Williamson County! The interior features absolutely stunning architectural details and finishes throughout.
Enjoy custom closets in each bedroom - gleaming hardwood floors - custom iron handrail - gorgeous views - gourmet kitchen with granite counters, oil-rubbed bronze fixtures, a gas range and spacious walk-in pantry - two master bedrooms (upstairs and downstairs) - stunning entry foyer with a custom, double front door entry - 4 car garage - separate side entry into study - wrap around porch - custom tile work - massive moldings and architectural columns - built in bookcases and much, much more.
This home is absolutely stunning in person!!
Located only minutes from downtown Franklin, Cool Springs, I-65 and Brentwood! Zoned for the award-winning Williamson County/Franklin school district.
It is currently featured on the Top Ten Luxury Real Estate Deals List. Price per square foot is much less than other homes that have sold in the neighborhood - this is the only home for sale in Durham Manor!
- $874,900
- 4 Bedrooms
- 3 Full Baths, 2 Half Baths
- 5,400 Square Feet
- 2.7 Acre Lot
- 4 Car Side Entry Garage
- Two Fireplaces
- Formal Living and Dining Rooms
- Rec Room
- Den
For Additional Photos and Information, Please Visit Our Website: www.JoeBurtonSells.com
We hope to see you there! : )
Don't forget about the new extended and expanded tax credits! First time buyers or those that have lived in their current home for five out of the last 8 years, can quite possibly qualify for one of the tax credits.
For Buyers: The $8000 first-time buyer tax credit is available until April, 30th. You have to be under contract by April, 30th and close on your new home by June, 30th. Also, to qualify for this credit, you cannot have owned a primary residence in the last 3 years. And your new home purchase cannot be over $800,000 to qualify for this credit.
The $6500 step-up credit is for homeowners who have lived in their current home consecutively for 5 of the past 8 years. Your new home purchase cannot be over $800,000 to qualify for this credit.
With both credits there are income restrictions as well. Currently, they are $125,000 for singles and $225,000 for married couples. It would be best to speak with your accountant or a tax adviser about your situation.
For Sellers: The tax credits might be a big plus for a potential buyer looking at your home. There are a lot of first time buyers in the market right now looking to buy. The step-up credit has also has brought potential buyers in to the market as well!
Some of the neighborhoods and areas that are selling well include East Nashville (Edgefield, Inglewood & Lockeland Springs), Bellevue, Nippers Corner/Crieve Hall, Franklin (particularly in the 37064 zip code) and Brentwood.
Don't forget, interest rates are still LOW!!
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