Middle Tennessee Real Estate

It's Official: I've Moved

2007-08-09T10:01:00.001-07:00

I've moved! My official real estate blog has moved to a new swanky location. You can find me now at http://midtnrealty.wordpress.com. Come by and say hello!

Middle Tennessee Real Estate

On Mortgage Fraud. Again.

2007-07-31T19:19:00.000-07:00

One of my favorite bloggers posted today that someone has actually been convicted of mortgage fraud in Tennessee. I've had several buyers describe how lenders can get them in a house - the how-to's constitute mortgage fraud. When I've explained this to them, they generally freak out and often don't get the home because their only way is through fraudulent lending.

What is mortgage fraud? It's when the numbers are dummied up so that the underwriter and ultimate lender are misled into giving a loan. Now loans where you don't declare your income are okay because lenders know you're not providing back-up documentation to prove your salary. And if a buyer does this, he or she should expect to pay a higher interest rate.

In the simplest terms, it's mortgage fraud when something happens that the lender does not know about.

Here's a link to an amazing blog appropriately called Mortgage Fraud Blog. The best consumer is an informed consumer, so please bookmark these pages and stay up to date on the various schemes. Don't be a victim!

This news is older, but still informative... here's a link to identifying real estate scammers courtesy of CNN Money.

Cash Back at Closing

2007-07-30T20:20:00.000-07:00

I had a listing appointment today with a smart, experienced woman. Several years ago, she wanted to invest in real estate so an agent offered to "help" her by introducing her to an investor. I'm not sure how the whole scheme worked, but she overpaid for a house by about $125,000. The appraiser was in on it. The real estate agent must have been, too, because when the buyer said she was nervous about it the agent kept saying it would be okay.

A side note... when you work with a real estate agent, MAKE CERTAIN that your agent analyzes the market to see what the home is worth. Get your market comparables. If your agent doesn't provide this for you (and yes it's okay to ask), then your agent hasn't provided proper "care" for you and could get in deep doo-doo as a result.

So this agent introduced the buyer to a grifter. Somehow he walked away from the deal with a boat-load of cash. The only way anyone should ever walk away with money is if the seller agrees to pay the buyer for repairs outside of closing. Also, the seller's net profits are acceptable. Real estate agents will take checks back to their brokers, but the checks will be made in the name of the company - not the agent.

I'm writing this as a caution for everyone. If someone is involved in a real estate deal and stands to make a lot of money (and is not the seller or the agents collecting commission on behalf of their broker), then it smells bad. If it smells bad, it's probably not legal. I'm thinking my client's statute of limitations is up on this, but I did give her a name of a good real estate attorney. She's a very bright woman, so if she can be a victim of a scam, then anyone can. Be careful out there - there are some very bad people who want your money.

Under Pressure: Your Toes

2007-07-21T15:38:00.000-07:00

A blogger I love reading posted today about how his brother-in-law nearly had his foot amputated because of a pressure washer. They had been jet skiing in some nasty waters of south Florida and after finishing, they cleaned their equipment with a pressure washer. In a moment of distraction, the bro-in-law accidentally sprayed his foot making a little hole. The skanky water was filled with so much bacteria and other gross stuff, that his foot and leg up-to-his knee became severely infected.

Naturally when I think about pressure washing (I always want to call it power-washing), I think about some of the homes in the neighborhood next to mine with green crud growing up the siding. If you have crud on your siding, dear readers, hire a pressure washer or rent one. But do it because your neighbors find you to be embarrassing!

I found a treasure trove of do-it-yourself pressure washing videos at Expert Village. The host most definitely looks like he knows the ins and outs of pressure washing. Here's a sampling (and try to be patient through the commercials).

Click here for more on "How to Pressure Wash Your House: DIY Home Improvement Project Tips"

Let me know if you do any home-spun pressure washing! I'm very interested in hearing about your injury-free results!

I Scream for Ice Cream

2007-07-18T14:17:00.000-07:00

Today is National Ice Cream Day in the United States. My personal favorite mixed ice cream is caramel praline. But there's not a lot that's better than plain ol' vanilla ice cream covered with chocolate syrup. In honor of National Ice Cream Day, and because it's "Wordless Wednesday" we're going on a home tour featuring four homes from four cities that claim to be the birthplace of the ice cream sundae.

Our first stop is Buffalo, New York:

This pretty home is in North Buffalo and has an asking price of $415,900. It has 4 bedrooms, 3.5 baths, and 3300 square feet. It is located at 69 Starin St., with MLS #280398.

Our next stop is Two Rivers, Wisconsin:

This 5 bedroom, 2.5 bath home with 2847 square feet is available for $227,500. It's located at 3204 Parkway Blvd. and can be found usng MLS #913584.

Now we'll head back over to New York, this time Ithaca:

I love this bungalow style home. (Tell me if it's more cottage to you!). This home has 1200 square feet, 3 bedrooms, 1 bath, and can be yours for $199,000. Check out MLS #124589 for more info!

Finally we head to mid-America to Evanston, Illinois:

I'm beginning to think I like a very specific style of home. This $549,000, 3 bedroom, 2 bath home on 1501 Dewey is listed under MLS #1276785.

That's it! Now go make yourself a lovely, sweet ice cream sundae!

I Want to Suck. Your Blood.

2007-07-11T07:13:00.001-07:00

Dracula's castle may be for sale, for a cool $136 million. I wonder if it comes with a stack of carved firewood. Carved into the shape of a stake.

Beware of Retention Ponds

2007-07-10T21:22:00.000-07:00

I learned today that oftentimes when a lot next to a home has a sinkhole or is a ponding area for when it rains, that the homeowner can be responsible for maintenance of the lot. Sometimes the plat maps don't tell the whole truth. If you own a home next to a water retention area or culvert, go to the county records office and pick up a full printout of the neighborhood blueprint, complete with footnotes. And read the footnotes to see if they say, "Homeowner in Lot X responsible for maintenance of retention area." It could be a bitter surprise!

Here are what retention ponds typically look like, just in case you're wondering.

Wet.

Dry.

The really bad stuff. This sinkhole actually dropped in Guatemala City, killing three people. So while you're getting the neighborhood plat (with the small print on the second page), order a geographic survey, too.

Bob Parks #77 in Nation

2007-06-28T13:58:00.000-07:00

I opened my magazine from the National Association of Realtors this afternoon and saw an article that ranked companies in 2006 by the number of transactions. Bob Parks Realty, LLC earned a rank of #77 in the NATION. That's some big business! We had 6,142 sides that we closed, or 10.7 sides average per salesperson (mine was 15 sides). Our sales volume was $1,500,400,000. that's just incredible. We have 575 agents with our company, spread over 10 offiees.

Beautiful Cul de Sac Home

2007-06-25T11:36:00.000-07:00

This beautiful home has just been listed for $179,900. It has almost an acre that includes a huge front yard, fenced in back yard with a nice wood deck and very nice landscaping. The inside is being completely repainted, so it'll be move-in ready in just one short week!

The seller is a builder, so he's loaded the home with lots of updates, including new fixtures, designer carpet, higher-end Armstrong vinyl. BUT the biggest bonus is the upstairs, which includes a SECOND master bedroom and a huge bonus room. There's lots of storage throughout the home. If you're interested in seeing this home, please contact me at (615) 491-2161.

124 Blue Fox Trail
Murfreesboro, TN 37129
SIEGAL SCHOOLS
3 Bedrooms (2 masters
Office/Exercise Room
1-Car Garage with built in shelving
3 full baths
HUGE bonus room with dual ceiling fans
Roof & appliances are less than 3 years old
Incredible lighted storage

Lenox Village Coming to Smyrna

2007-06-20T15:06:00.000-07:00

A gorgeous community is planned for Smyrna called Lenox Village. With 340 single family homes expected, the developer is offering 25 different floor plans. There is already a waiting list! For more information, read this article in today's Smryna A.M. (featuring a fabulous quote by yours truly!).

Rats in the Belfry

2007-06-07T22:27:00.000-07:00

I showed a new home yesterday - beautiful, tastefully painted, nice fixtures - you know, the works. Then we walked into the garage and noticed a pile of grass seed was spilling out of a small, built-in cabinet. So we opened the little storage door and screamed. A RAT was inside and started to move to us - toward the light. My buyer and I got out of there FAST. AAAAAGH!

That was only the second time I've screamed during a showing. The first was when I laid my business card down on a counter and accidentally brushed another card. About a kazillion baby cockroaches came streaming out from under that card.

The time the spider ran out of a closet and up my pant leg didn't make me scream. I think I just wet my pants over that one! haha!

Housing Numbers for Smyrna & LaVergne

2007-06-01T09:01:00.000-07:00

Smyrna

2007
Homes currently on the market in Smyrna: 348
Home under contract (pending): 140
Homes closed in May 2007: 82
Homes closed Jan. 1 - May 31, 2007: 376

2006
Homes closed in May 2006: 84
Homes closed Jan. 1 - May 31, 2006: 348

Current
Least expensive: $97,100 (998 square feet, 2 bedroom, 2 bath, zero lot line on Dellwood Dr.).

Most expensive: $649,900 (this home has a contract on it, but is located in Hidden Valley and has 4706 square feet, four bedrooms, three and a half baths).

Total number of homes for sale for over $300,000: 26

LaVergne

2007
Homes currently on the market: 405
Home under contract (pending): 83
Homes closed in May 2007: 72
Homes closed Jan. 1 - May 31, 2007: 304

2006
Homes closed in May 2006: 84
Homes closed Jan. 1 - May 31, 2006: 406

Least expensive: $25,900 (mobile home in Driftwood Village currently under contract. The home itself is uninhabitable according to the listing agent on the MLS). Next least expensive: $40,000 on Fergus Road that just came on the market this week.

Most expensive: $452,900 in McFarlin Pointe. Four bedrooms, two and half baths, 4008 square feet.

Total number of homes for sale for over $300,000: 28

This research definitely shows a tale of two cities. Smyrna real estate market is right on track, and perhaps a little ahead of the numbers from last year. However, the number of homes sold from last Jan-May (2006) to those sold this Jan-May (2007) in LaVergne dropped 25% this year. The good news for LaVergne, however, is the numbers seem to be leveling again when you compare May to May (2006 v. 2007), so my thoughts are the market is picking up again. I hope gas prices stabilize so that consumers can regain confidence and get back to investing in purchasing their own homes!

I Love this Wonk

2007-05-30T15:54:00.000-07:00

This is a very cool new toy I found online today. Developed by Trulia, it shows new construction and home growth in Nashville and surrounding areas from 1890 to present. Click here to see what's happened in our area. Or click here if you want to look at other areas. Enjoy!

Raise Your Credit Score

2007-05-28T18:58:00.000-07:00

Without a decent credit score, you won't be buying a home unless you're following the bread trail of a predatory lender. This article today on MSNBC outlines suggestions for raising or improving your credit score.

If your credit score is below 620, you can pretty well forget about getting a good interest rate on a home loan, much less getting a loan at all. The average score, according to the article, is around 720. The article really does provide a strong outline on how your credit score is determined, so go read now!

Home Sales Dip? Again.

2007-05-25T08:50:00.000-07:00

National news is reporting today that homes sales fell in April, for the 9th straight month. In April, I found buyers were more active - based on the fact that I found buyers for my homes listed in April and we closed in May.

MSNBC has the story about home sales and home prices falling.

More locally, I'm seeing fewer homes being listed. I believe this will eventually be good for sellers because of supply and demand. With fewer homes, there will be less to choose from when buyers are ready, so eventually that will positively impact the market. When we reach that point, I believe the market will take off again.

Unless the subprime mortgage industry keeps dragging the market down.

Gorgeous Gated Community Coming

2007-05-17T06:24:00.000-07:00

Though they are a different company within the company where I work, I don't always agree with their decisions. However, this time they are building a gorgeous community in Murfreesboro called Marymont Springs off of Rucker Lane. With over 600 acres, they are building an estate gated community featuring lakes, trail, and more.

Homes will range from $300,000 to over $1 million. It looks like it will be absolutely stunning once complete and I'm going to be working hard to earn enough to build my own home there! :)

Read the article about how the neighborhood association will be paying for its own roads printed in today's Daily News Journal.

Not again!

2007-05-15T16:36:00.000-07:00

Another body was found in a home, but thankfully this time a Realtor wasn't involved! A woman in Spain stopped making her mortgage payments, so the bank/lender foreclosed on the home. Without even going to look at it, the bank sold the home at auction. The buyer went to look at it after there was a nearby fire - and found the previous owner. She was sitting on the living room couch, mummified.

Holy crap! Read the story here!

Sweet Home

2007-05-14T11:27:00.000-07:00

Just listed this pretty home today for $127,000. It’s a three-bedroom, two bath home in the back of Lake Forest (technically, it’s in the Gammon Estates subdivision). It backs up to woods.

More details:

$127,000 604 Angel Way Court, LaVergne, TN
Big living room with wood burning fireplace
Breakfast nook in kitchen
Stove, dishwasher & refrigerator remain
Formal dining room
Walk-in closet in master (trey ceilings and private bath)
Nice deck - will need to be pressure washed
One-car garage

This home will be a short-sale as the father had a major medical issue and medical expenses will eat you alive. Plus, he is no longer able to maintain a yard. Please let me know if you’d like to see the home! And now for some photos:

Bright = Blinding Light

2007-05-10T05:43:00.000-07:00

I posted this at Shak & Jill and thought it was too funny not share here!

We've all read things like, "Charming home with city view" and have gone to look only to find that the real estate agent has been very creative in his or her description. The folks at Bigger Pockets posted a funny rundown on how to really read real estate ads. Go here for a good laugh!

Here are a couple more that I've written in my own listings and what they mean:

Brick - Brick veneer on the front only. If it said all-brick, it'd be real brick all around.
Popular Neighborhood - Way overcrowded and possibly filled with gangs and/or crime.
Mature Trees - Nice shade, but let's hope you don't have septic because the roots will probably be eating away at it.
Immaculate - Not filthy.
Spacious - Not tiny.
Fenced Back Yard - To keep neighbor's snarling rottweiler or pit bull out.
Affordable - Needs work.

You get the idea! May the buyer beware!

Townhome in Popular La Vergne Community

2007-05-09T06:13:00.000-07:00

JUST LISTED!

Brick townhome w/upgraded carpet, all appliances (including stove, refrigerator, microwave, dishwasher, washer & dryer), gorgeous kitchen, private patio, 2- spacious master suites & big living room. Walk to Veterans Memorial Park from this quiet community.

Easy access to jobs, schools, shopping, entertainment, interstates, N'ville, M'boro, and more!

Total Square Feet: 1355
Bedrooms: 2 (two master suites with oversized closets and private baths)
Total Baths: 2 1/2
Price: $111,000 (seller will consider helping with closing costs)

Brick front. Monthly association fee of $75 covers all outside maintenance, including insurance on the structure and yard work.

Huge living room has room for big-screen television (not pictured).

Kitchen has beautiful cabinets, all appliances, nice bar area, pantry, and roomy dining area.

Master bedroom has walk-in closet, private bathroom, office or sitting area, and cathedral ceilings.

Private patio includes storage area for yard equipment (not that you have to do any work on the yard, but still!).

Call Kathy at (615) 491-2161 for a private tour, or email ktyson(at)realtracs(dot)com for more information.

Welcome Agent Janice!

2007-05-03T13:04:00.000-07:00

My friend and mentor Janice Williams is jumping into the blogging river. I'm her only lifevest so far, so be nice to Miss Janice! Visit her at This is Murfreesboro. She'll be writing a post soon to give me photo credit for her fabulous picture! Nudge nudge wink wink. Hahahaha. Welcome Janice!

Six Bedroom with Creek!

2007-05-02T07:22:00.000-07:00

A friend of mine has the gorgeous home listed in the west Nashville area in the Woodland Forest subdivision. It was too pretty not to mention here! Some stats: 6 bedrooms, 4 1/2 baths, 2 rec rooms, 2 kitchens (in-laws, anyone?), over 3700 square feet, hardwood floors, new carpet, new paint, and it BACKS UP TO A BEAUTIFUL CREEK! It's listed at $319,900, already reduced $20,000 from original price. Here are some photos:

Front of the home features two car garage, plus third garage. Plenty of room for parking for when you have parties! Quiet cul de sac is an added bonus.

Check out these gleaming floors!

All kitchen appliances remain and include stove, dishwasher, refrigerator, and coffee pot!

This is the downstairs bonus room with a kitchenette. Could be in-law apartment!

This is my very favorite part. This view is amazing and the creek runs right beside it.

If you'd like more information or a personal tour, give me a call at (615) 491-2161. The seller is willing to help with some closing costs, etc. if the offer is strong enough.

Please Never Happen to Me

2007-05-01T20:00:00.000-07:00

I hope this never ever never never ever happens to me or my clients. An agent showing a house allowed her clients to go back to the bedroom alone. Shortly after, she heard a scream. The buyers had found the homeowner deceased on the bed. She died two weeks before. The listing agent wouldn't say how long it had been since the last showing, but my money says it had been at least two weeks. Read the article here.

Side note: I try to contact my clients every week!

Welcome New Agent

2007-04-19T14:51:00.000-07:00

Sometimes people in the real estate industry are viewed as cut-throat and treated like used-car-salesmen.Admittedly, I have run across agents who try to profit from the work of other agents, who lie, who try to mislead. Thankfully those are few and far between, but it's a shame when one bad apple gives everyone else a black eye!

In contrast, however, I also have the privilege of knowing some of the smartest, and most honest, moral, and ethical people around. One such acquaintance of mine just got his license with the state of Tennessee. Glen (Robert) Dean and I don't always agree on politics. We often have different views of the big, wide world. Even so, I know he will be an outstanding agent (though with another company) because he strives to be fair. It is such a pleasure for me to welcome Glen to the the real estate roller coaster! Enjoy the ride!

Open House Sunday 4-22-07

2007-04-19T11:27:00.000-07:00

I'll be hosting an open house in Smyrna's beautiful Stonewood subdivision this Sunday, April 22 from 2:00-4:00 p.m. I hope you stop by and say hello! Here are some property details:

5416 Cliffstone
$349,900
4 Bedrooms, 3 baths
Huge bonus on 2nd floor
Huge Florida/Hearth room
Master bedroom downstairs
Eat in Kitchen + formal dining room
3 Car garage
2 fireplaces
Hardwood floors, Corian counters, double ovens, master has two separate walk-in closets (one for her summer wardrobe, one for winter - haha)

Directions: I24 East to Exit 70 (Almaville Rd.) Turn right and go approximately 4 miles then right into Stonewood subdivision. Left on Woodcliff (first street after entering subdivision), then right on Cliffstone. Home on right near end.

Now for some photos!

Beautiful treed lot on almost a half acre. All brick home!

This is photo of hearth room / sunroom. You can see the kitchen looks onto this extra space.

Then we have the second fireplace in the formal living room.

Note the double stainless steel ovens, gorgeous hardwood floor and bay window in the breakfast nook!

Hope to see you on Sunday!