Selling Your Home With or Without a Real Estate Agent

Thinking about selling your home?  Wondering whether or not to do it yourself?  Homegain.com recently surveyed 1,000 homeowners asking whether they used a real estate agent or sold it themselves.  83% began the process with a licensed real estate agent while only 17% started the process themselves. 

The survey also displayed a 50% higher closing rate among homes sold using a real estate agent than FSBO (for sale by owner).  Studies have shown that most buyers believe they benefit from working with an agent as opposed to the seller reaping all the benefits in a FSBO deal.  Most buyers feel intimated to thoroughly investigate when looking at a home with the owner present.  Buyers also find it difficult to make an offer and negotiate with a homeowner themselves. 

The buyer knows that if anyone is saving the commission in a FSBO it’s the seller.  Most buyers start their process of home searching with a licensed real estate agent.  They feel someone is representing them and they have someone to take care of the process of inspections, repairs, appraisals, negotiations, legal forms, etc. while they work or prepare to move possibly from out-of-state.

Most real estate agents will come for an interview/presentation of what they have to offer in getting your home sold for the best possible price in your time frame.  This also gives you a chance to get to know the agent and decide if you ‘like’ and ‘trust’ them which are two things essential in a relationship between an agent and homeowner.

Homebuyer IRS Tax Credit Expanded & Extended

The Worker, Homeownership and Business Assistance Act of 2009 was signed into law on Nov. 6, 2009.  This law extends and expands the first-time home buyer credit allowed by previous Acts.  First-time homebuyers have until April 30, 2010 to have a binding contract on a home purchase to receive up to $8,000 tax credit or refund from the government.  The law also expands the credit to existing homeowners for a tax credit or refund of up to $6,500.  The income levels for those able to qualify has been raised quite a bit also.

A First-time home buyer is defined as someone who hasn’t owned a home in the last 3 years.  An existing homeowner must have owned a home 5 consecutive years during the last 8 year period.  While the law says you must be in a binding contract by 4/30/10, the transaction must close within 60 days after this.  You are not eligible for the credit or refund until after closing, however, you may amend your last years return if you choose.  For more information on the actual IRS law click here http://www.irs.gov/newsroom/article/0,,id=204671,00.html

The THDA (Tennessee Housing Development Agency) is also offering a program in association to the First-time homebuyer stimulus to help with closing costs & down payments for the loan.  To find out if you qualify click here http://www.thda.org/singlefamily/ftcover.html

If you would like assistance to see if you qualify for any of these programs contact me at 931-624-6320 or laurie@listwithlaurie.com  You may also read more about me, search for available homes, and contact me thru my web site at www.listwithlaurie.com  I would be happy to help you achieve the American Dream and purchase your first home or sell your current home and purchase a new one

Mortgage Interest Rates Expected to Rise as the Federal Reserve Raises the Discount Rate .25%

For the first time since June of 2006 the Federal Reserve increased the discount rate (rate the fed charges banks for emergency loans) .25% Thursday afternoon.  This can be taken as a sign that the emergency measures to stabilize the economy are coming to an end.  The central bank characterized this as a move to ‘normalize’ its lending fees.  While the federal funds rate (the rate banks charge each other) remains unchanged, this can be taken as a ‘warning’ that the Federal Reserve is tightening its policy.

While today’s mortgage interest rates are hovering at 4.875%, a historically low rate, economists have projected the rate to rise at least 1% during 2010.  This increase was hypothesized to begin in the summer or possibly even the fall.  After the fed’s move to raise the discount rate a quarter of a percent, this increase may well begin in the next month or two.  The tax stimulus for first time homeowners (people who have not owned a home in the last 3 years) and current homeowners (who have owned their home for 5 years or more) who want to step up is only valid on contracts accepted by 4/30/10 and closed within 60 days after 4/30/10.  This makes March & April of 2010 quite possibly the best time to buy or sell a home in the foreseeable future.

If you would like information on the Tax Stimulus & to see if you qualify for up to $8,000 from the IRS, call or email 931-624-6320 or laurie@listwithlaurie.com

For more information on selling your home and what its worth, visit http://www.listwithlaurie.com/selling.html

If you would like to explore the Clarksville TN – Montgomery County real estate market click here http://www.listwithlaurie.com/search.html

Tips for buyers thinking about buying a home can be found here http://www.listwithlaurie.com/buyers.html

For related news articles see below:

http://www.csmonitor.com/Money/2010/0219/In-surprise-move-the-Federal-Reserve-raises-a-key-discount-rate

http://www.bloomberg.com/apps/news?pid=20601103&sid=aEzB7Vg_5KJ0

http://blog.taragana.com/business/2010/02/19/stocks-turn-higher-as-fed-begins-to-dismantle-emergency-measures-for-banks-33031/

New Educational Degree = New Jobs for Clarksville TN

Austin Peay State University has received approval for accredittion of its new Associate Degree in Chemical Engineering Technology.  This is a two year program that will prepare graduates for jobs that will become available through Hemlock Semiconductor’s $1.2 billion manufacturing plant scheduled to open in 2012.  Hemlock Semiconductor is a division of Dow and is the  world leader in polycrystalline silicon production, the raw product used in solar energy production.

HSC is also expected to bring several other businesses to our area that will need these skills provided through APSU’s new Chemical Engineering Technology Facility.  This facility is in the process of being built on the APSU campus thanks to a grant from HSC last year for $2 million for the building and equipment.  This program is expected to grow and expand as other businesses in the chemical engineering field locate in and around Clarksville TN offering new and diversified jobs similar to HSC.

The chemical engineering program began last fall with around 150 students.  HSC alone is expected to provide a workforce of 500-800 people initially that will require the skills obtained in this program.  So obviously APSU and Clarksville TN – Montgomery county are poised for exponential growith in the workforce. 

This is just another reason why Clarksville TN is a great place to live, work, and raise a family.  HSC’s projected average salary for the employees they will hire that will need this education is around $50,000 per year.  According to city-data.com the median salary of a Clarksville TN household in 2008 was $46,034.  HSC and the jobs created by other companies expected to locate around it should raise this household income figure quite a bit.  Our local leaders quest for higher paying jobs in our community will finally be a reality.  The new education and new jobs will allow our children and grandchildren to also stay in the area and obtain a better lifestyle for their familys.  All in all, a great combination for my hometown!!!

If you would like more information on APSU and the Clarksville TN area go to www.listwithlaurie.com and click on local links.  You may also search and request information on the local housing market by clicking on the links at the top of the page and submitting an email address or phone number.

Local newspaper article : http://www.theleafchronicle.com/article/20100214/NEWS01/2140320/-1/NEWS17/New-degree-gets-OK-for-Austin-Peay

APSU news article : http://www.apsu.edu/News/show_news.asp?id=4150

Clarksville Real Estate Market: “Better than almost anywhere’ Headlines Local Paper

According to U.S. Housing Market Analyst Edsel Charles, the Clarksville TN - Montgomery County housing market is ‘better than almost anywhere’.  He told a group of realtors from Prudential Professionals Realty Thursday night that the local housing market make the ‘short list’ of about 5 markets faring well right now.  One indicator is that we have almost 200 fewer unoccupied new homes on the market right now.  This number is hard to keep down in economic down times.  Many of these homes are located in the same neighborhoods which may be due to price or location not fitting the local demand. 

Edsel also predicted in just a few short years Clarksville’s demand for housing will overtake the supply causing a housing shortage.  He suggested by 2015, just five years away, we will be short developers and in need of 10,000 new building lots.  This was meant to urge local developers to be looking for land  now.  All in all, the future is looking so bright in the Clarksville TN – Montgomery County housing market we need to wear shades

However, one thing buyers need to heed Edsel’s warning to, he predicts the Federal Reserve to raise mortgage interest rates as much as 1% in the near future bringing the buying power of future homeowners down quite a bit.  For example the monthly principal & interest payments on a $150,000 house at todays rate of 4.875% is $793.81.  Raise that interest rate 1% to 5.875% and the same house becomes $887.31 for principal & interest payment.  This would make a buyer qualifing for a $793.81 per month principal & interest payment have to purchase a home $15,000 less than they can at today’s rates.

Another example of why with today’s interest rates coupled with the IRS Tax Stimulus in effect for accepted housing contracts by April 30th, 2010 make it the most oportune time to purchase your first home or step up to a larger home in many of our lifetimes.  If you would like to have a FREE Competitvie Market Analysis of your home to determine its value if it were sold in todays market visit http://www.listwithlaurie.com/selling.html and contact me.  Also if you are interested in searching the Clarksville TN – Montgomery County housing market visit http://www.listwithlaurie.com/search.html to view all available homes and contact me for more information on anything you find.

To read the article in today’s Leaf Chronicle visit http://www.theleafchronicle.com/article/20100212/BUSINESS/2120331/1046/Clarksville-real-estate-market—Better-than-almost-anywhere-

Clarksville TN Housing Market – January 2010

The first month of 2010 saw 199 housing sales close with an additional 216 new pended sales.  Actually not too bad considering the first 10 days of 2010 gave the area some of its coldest temperatures on record.  However, with 484 new listings hitting the market we still did not sell half as many homes as new listings hit the market.

The inventory stands at an average per day of 1642 homes on the market.  At the January 2010 sales rate this gives us about 7.6 months worth of inventory.  Anytime the available housing inventory is over 6 months supply we consider it a buyers market.  It is an excellant time to be a buyer in the Clarksville TN market!  With mortgage interest rates at an all time low and the Tax Stimulus deadline looming at April 30, 2010, first time buyers as well as those who have owned their home over 5 years and wish to step up may never see a better time to buy a home in their lifetime.

Housing inventory should be ready for the splurge of spring buyers expected to hit the market in the next 2 and a half months to take advantage of these buyer incentives.  This combined also makes it a prime time for sellers to investigate the market price of their home and get it on the market in time for advertising to get distributed for spring buyers to view their home. 

The average price of a closed home in Jan. 2010 is $145,928.  These homes where on the market an average of 91 days.  Realizing the higher the price, usually the longer time on the market.  Houses listed at $188,000 or above make up over half of the inventory on the market.  The average closing price to list price is 97.6% meaning homeowners are coming down off of their list price about 2.5%.  This is great compared to what some areas of the country have been experiencing.

If you would like a FREE Market Analysis of your home to see what it can sell for, contact me and I will be happy to help you.  laurie@listwithlaurie.com  Vistit my web site at www.listwithlaurie.com to search available listings in the Clarksville TN / Ft. Campbell area.  Remember I can help you with any home you see listed.

Clarksville TN, A Great Place to Live!

The buzz about why Clarksville TN is one of the best places to live, work, and raise a family is beginning to catch on nationwide.  The publicity received from many national publications such as BusinessWeek, cnnmoney.com and US News about why Clarksville TN is such a great place to live right now and one of the top places to start a small or medium business has catipulted this community into the national spotlight in a good way! In these times of recession, people are looking for a new start for their family and many of them are finding Clarksville TN in their research and making inquiries.

Clarksville TN is an awesome place to raise a family.  The proximity to the arts & concerts at the states capital, Nashville, and the Land between the lakes gives one a variety of interests.  The education system is strong with a local university, Austin Peay State University with many other established public & private universities such as Vanderbilt.  The closeness of Ft Campbell Military base, home of the 101st airborne, keeps the economy stable even in times of economic recession.  The introduction of Hemlock Semiconductor in the industrial park has given way to a bevy of new industry & new jobs interested in locating to Clarksville TN. 

If you want more local info, go to my web site www.listwithlaurie.com and click ‘click here’ on the home page for more local info.  Come for a visit.  We would LOVE to have you

BusinessWeek Says Clarksville is “Tennessee’s Best Place to Raise Your Kids”

Wow!  Just after CNNMoney.com ranked Clarksville TN 4th as the best mid-sized city in the US to launch a business, BusinessWeek ranks Clarksville TN 1st as the best place in Tennessee to raise kids.  As a Clarksville Native, I couldn’t be prouder of my hometown than I am right now.  However, if things keep up, I am sure something will happen soon to make me even prouder. 

My grandparents stayed here to raise their children just as my parents did and I did.  We have known all along the hidden jewels in Montgomery County.  Now with the national attention from the 101st Airborne and Hemlock Semiconductor, the rest of the world is realizing it to.

Austin Peay State University, proximity to Middle Tennessee State University, and Vanderbilt University make this an optimum place for kids to go away for college and not be too far from home.  Vanderbilt Children’s Hospital is an area children’s hospital some parents travel miles and stay lengthy periods for quality treatment for their sick children and we are less than 1 hour from there.  Land Between the Lakes allows for outdoor activities such as camping, boating, hunting, and horseback riding in about an hours drive from anywhere in the county. 

Clarksville – Montgomery County has the chance of a lifetime for controlled development and to chart a plan that spreads far into the future for positive growth.  We are well on track for that.  I look forward to welcoming many new residents to Clarksville – Montgomery County.  There is nothing I would rather do for a living than introduce them to our area and help them find their dream home. 

Read The Leaf Chronicle’s story on the BusinessWeek article here:  http://www.theleafchronicle.com/article/20091118/NEWS01/911180326/City+tops+magazine+s+list

Read the BusinessWeek article here:  http://www.businessweek.com/investor/content/nov2009/pi20091117_155796.htm

For the info On Clarksville TN click here:  http://images.businessweek.com/ss/09/11/1117_best_places_to_raise_kids/43.htm

My Web site for area info:  www.listwithlaurie.com

 

Homebuyer Tax Credit Extended & Expanded!

The Senate & House have overwhelmingly approved to extend the $8,000 First Time Home Buyers tax credit and also expanded it for up to $6,500 for existing homeowners who have owned their home for at least five years. Existing homeowners have a higher income threshold too opening this tax stimulus up to a whole new group of home buyers. The President is expected to sign the bill tomorrow. This extends the stimulus until April 30, 2010 for having a property under contract with a mandatory closing by June 30, 2010. There is a one year extension for military serving overseas at least 90 days during that period. This is excellent news for the Clarksville TN – Ft Campbell KY real estate market that has experienced great success from the current stimulus already!

 

Clarksville TN Ranks #4 in Best Places to Launch a Small Business

Clarksville TN made an impressive list last week when it made the list at #4 of the best mid-size towns to start a new small business in 2009. With the growth of Ft Campbell Army Base and presence of Austin Peay State University as well as the construction of Hemlock Semiconductor, it couldn’t be a better time to begin a small business in Clarksville-Montgomery County. As a life long resident I am very excited to see the progress in my hometown. As a Realtor I cannot wait to introduce my clients to my hometown and what is going on here. Read the article for details.

http://money.cnn.com/smallbusiness/best_places_launch/2009/snapshot/67.html