Is Nashville a Retirement City?
It seems as though history tells us that part of the American dream has been work until you retire and then hopefully at least the winter times of your retirement will be spent in a warm climate like Arizona or Florida.
The new thought among many retirees is to give the Nashville area or at least Tennessee a chance. What seemingly used to be the best kept secret is out. Nashville has become the new boom town for all and especially retirees. Let's look at some of the reasons why.
* One of the top reasons is the low cost of living that other places do not provide. The powers to be of Nashville are happy to tell us that Nashville ranks 2nd in the lowest cost of living. We are second only to Oklahoma.
* Taxes take their toll on a retiree so they love to hate even the word taxes. It is worthy to note that we rank third lowest in tax burdens. Beware however of the 6% tax on dividends and interest. A real plus is that there is no state tax.
* Having access to fine medical care is another category that Nashville and other Tennessee cities rank very high in providing. This is an important factor to a retiree.
* Nashville and Tennessee temperatures are mild and we know our Northern friends are counting the days to move to a warmer climate. Most cannot wait to get away from the frequent snowfalls and frigid temperatures. Being touted as one of the sunniest states in the United States makes Tennessee very desirable with moderate temperatures for most of the year.
* Even though the crime rates do rise metropolotan areas, living in suburbs is a good idea and always cuts down on your chance of experiencing crime.
It is important to pick your priorities when you are deciding where you want to live out your Golden Years. Will it be the coastline or near family? Most of us have that idea of what we have dreamed of for our retirement years. It is imperative that you research all the facts before making your plan a reality. However, hold on to your dreams, it makes working toward retirement more bearable.... and Remember...
..."You've Got a Friend in Real Estate"
Posted on 06/29/2017 5:08 PM by Jarod Tanksley
Selling your home in Today's Market
As you begin to plan on the purchase of your next home, you will need to know the cost of selling your present home. It is critical that you know the charges and understand each one as it relates to your transaction.
Traditionally the cost of selling your home could cost up to 8 - 10% of the selling price of your home. Most of these charges have options that you need to understand.
Your agent will charge you to market your home while providing expert advise. This is likely the biggest expense you will have and it is the most valuable service in securing the sale of your home. A good time to discuss your expenses is when talking with your agent about the marketing plan involved in listing your home for sale to reach the largest group of potential buyers.
A pre-listing home inspection might reveal some repairs which you may need to pay for. This is part of the negotiating process as you receive offers for your home. Be sure to ask your agent for advice during this process.
There will be a prorated share of your property taxes when you sell your home. If your home is in a neighborhood with a Home Owner's Association, that fee will be prorated also. The new buyer/owner will assume responsibility for those charges at closing and if they have been paid in advance, you should receive a credit on the closing statement.
Another fee would be title insurance. Which is the policy indicating that research has been done to insure that there are no liens on your property and to assure the buyer that there is a clear title. The research is normally done by the closing attorney's office.
You will also want to budget monies for moving expenses. Whether you are moving yourself or hiring a moving company there will be expenses, i.e. boxes and moving truck. Estimates for this job vary widely....talk to several companies.discuss the best way to market your property to potential buyers and determine the best plan for you.
Some optional costs could be a home warranty, home staging and etc. This is where having a professional discuss the best way to market your property to potential buyers and determine the best plan for you.
As always, with a critical decision such as this, it's advisable to have an experienced and knowledgeable agent representing you to be sure that you get to the closing day with the least amount of problems and/or stress in the most reasonable amount of time for you and your family. Always remember....
...."You've Got a Friend in Real Estate"
Posted on 06/21/2017 11:01 AM by Jarod
Is NOW the right time to Purchase?
Purchasing a home now can save you money in a couple of ways. The determination of your mortgage payment is controlled by two factors. The cost of the home and the mortgage rate. You can throw into that equation how much your down payment will be. This is the best time to purchase because all authorities on the subject say that mortgage rates will increase over the next 12 months. Let's point out some really great reasons to purchase now.
* Interest rates on mortgages are going to increase over next year
When rates are at 4% you can be assured of a great mortgage on your home. Knowing these rates are to rise is a very good reason to buy now.
* Home costs will be RISING
In almost every article you read about residential real estate the opinion and research is the same. The prices of homes are not going down but surely will be going up. So why wait, now is the time to purchase your new home. A great way to save your money is the prospect of constantly accumulating equity on your home.
* MONTHLY PAYMENT
Many times the amount you are paying in rent is more than what you would be paying for the monthly payment on a mortgage on the same home. So why not pay your own monthly mortgage payment instead of someone else's.
* THE TIME IS RIGHT
Let's face it, looking back is not going to help you decide what and when to purchase but working with a professional will help you see better what the future holds in higher prices and higher mortgage rates. I am happy to sit down and show you the possibilities for you and your family to be in your new home before summer ends. And always remember......
...... "You've Got a Friend in Real Estate"
Posted on 06/16/2017 8:07 AM by Jarod Tanksley
Helpful Tips to Secure Your Home During Summer Travels
The summer traveling season is upon us, and that means many people in the Brentwood, Tennessee, area will be out on the road for adventure. Whether your destinations are an hour away from home or a whole day's worth of travel, this list of helpful reminders can help protect you and your home from possible mayhem (don't you just love those mayhem commercials?).
If you've ever come home to the stench of rotting food or a mildewing dishwasher, you'll probably never do that again. Throw away food in the fridge or pantry that would have time to spoil or attract bugs. Once that's done, make sure all inside trash has been placed in outside bins. Empty the dishwasher and washing machine to prevent mold. And this should go without saying, but please, oh, please don't forget to empty the diaper pail and the litter box!
Unplug, Turn Down, and Turn Off Things.
Even if you use surge protectors, which you should, consider unplugging electronics that will not be in use. Standby mode can still use power, so just err on the side of caution and reduce the possibility of a fire hazard.
There's no need to run up your electric bill with cooling your home or heating your water while it's not being used. Most experts suggest turning the thermostat up to about 85 degrees if you're not going to be using your home for a few days, and some newer water heaters have a "vacation" mode to reduce the number of times it turns on.
According to the Federal Bureau of Investigation, a burglary takes place about every 13 seconds in the United States, with July and August being the most popular months for break-ins. There are many ways to reduce your chances of becoming a victim, but here are a few of the most popular tips according to Ackerman Security.
- Make sure your valuables are not visible from the street. If a criminal can easily see what is in your home, you increase the chance they will be tempted to come inside to steal the items.
- Put your indoor lights on an automatic timer.
- Secure your home. Make sure all your doors and windows have functioning locks and consider installing a home security system. The easiest way for thieves to get into your home is through welcoming unlocked doors and windows. Do not store a spare key outside.
- Ask someone you trust to check on your house and pick up your mail and newspapers. Nothing tells a thief you are not home like a week's worth of newspapers on your driveway.
- Do not post your travel plans online. Broadcasting the location or duration of your trip on social media sites like Facebook and Twitter can be dangerous. It may be something exciting you really want to share, but be aware that you are blatantly telling potential criminals, "I'm not home."
- Be wary of people going door-to-door soliciting donations. This is a common ruse used by criminals. Ask to see an I.D. that connects them with the charity. Don't feel pressured to give, trust your instincts and never give cash. Call 911 if you believe something is not right.
I hope that you and your friends and family have wonderful traveling plans in store this summer....
...."You've got a Friend in Real Estate"
Brentview Realty 615.373.2814
Posted on 06/07/2017 9:22 AM by Jarod
"I haven't bought a house in a long time"....
Unless you are buying and selling homes fairly often, sometimes the process becomes cumbersome and confusing. Let me help you better understand the process. All of your excitement and energy have been focused on finding your dream home and getting your home ready to sell. Most of your focus has been on acquiring your down payment and qualifying for your new mortgage and figuring out what your monthly payment will be. These are some items you may not have thought of and it is important to understand their purpose and the cost of each.
This fee covers the cost of a report that goes to the mortgage company to insure that your offer is appropriate and is based on the market value set by the sale of other properties in the residential area of the home you have a contract on. The appraiser can actually be helpful in making sure your investment is protected and that you are not paying too much for your property.
2. Home Inspection
The home inspector is a licensed professional who is making sure that your home is worth what you are paying for it and that it is structurally sound. The inspector is also looking for water issues, mold, a good working heating and cooling system, condition of roof and gutters and much more. The cost should be under $500. You will receive a copy of this report showing the status of the home and its working systems.
3. Application and Title Service Fees
The application fee is a fee covering the research to see if you are qualified for your loan. The material they acquire is your credit report and the rest of the fee is for your application to the mortgage company. The title service fee is for searching public records to see that there is a clear title on your prospective home with no liens.Each of these should be show on your closing forms....presented as a line item form.
4. Origination Fee for the Lender
This is a fee for the lender that you have chosen to make the loan. Included in this charge is processing the loan, funding the loan and underwriting the loan (and part of this is loan approval). This is based on a percentage of the loan.
5. Private Mortgage Insurance
This is a fee paid for insurance to actually protect the lending institution in case you go into foreclosure or default on your loan. This is determined in the event you put less than 20% down payment on your home loan. This is a percentage amount as well.
Since you have chosen to use a professional, you can ask up front what fees to expect once you have determined which home you are buying. This is an exciting time when you are purchasing your new home. I will make sure that you are informed to all fees to expect and that you are educated in the process. There should NOT be any surprises on the loan closing day!
...."You've got a Friend in Real Estate"
Brentview Realty 615.373.2814
Posted on 06/01/2017 6:39 AM by Jarod Tanksley