The book “The Millionaire Next Door”, written by Dr. Thomas Stanley, stands out because it is a classic in the personal finance world. One of the key principals in the book centers on living below your means (regardless of income level, profession or status). Specifically the author talks about how most millionaires live in modest homes in solid neighborhoods. Using this principle, it is important for a young couple to purchase the most suitable home in order to start their financial life on the right foot.

Often, very competitive couples strive to purchase a home in an area with a reputation for great schools. There is nothing inherently wrong with looking for a home in a community with good schools. There is usually a premium to get into the neighborhood. Add to that the right car and the right accessories for the neighborhood. You can continue to add to this list, e.g. highly fertilized grass and slate patios. Not long or the couple is living way beyond their means!

Before you start looking for a home, ask the lender to pre approve you. With your pre approved letter you can show sellers that you are serious about buying. Take your time and calculate in order to make 100% sure you can afford the payment. Or else you can find a cheaper home. Take into account your living expenses e.g. utility bill, groceries, daycare, transport etc. and all your debts that need to get paid on a monthly basis.

So, how do you figure out how to buy the home that is suitable for you so that you can live your dream? Let your Real Estate Agent assist and guide you. A good real estate agent should have the knowledge, expertise and should be in the best situation to guide you into buying the best home that suits you.

ARE YOU TRYING TO KEEP IT UP WITH THE NEIGHBOURS? is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

To understand “fair market value” one has to look into the meaning of comparable prices.  Comparable prices are the major factor that determines the market value. When buying a home in a neighborhood the value is determined by recent sales of homes in the same area. Houses that are similar in size (floor plan) and with similar rooms e.g. a dining room, a kitchen, two bathrooms, a lounge and four bedrooms. The most important factor of the comparable prices is the current market. The market is found to be able to change over a short period of time. The value of a property can not be based on historical data.

There are more aspects that can influence the market value such as the condition and the location of the property. To get an idea of what to consider, the following list can be of help:

• The proximity to amenities;
• A home with an obstructed view is worth less than a home with a view of mountains, the ocean or a lake.
• Noise polluted area;
• Is the property situated close to busy roads where heavy, continues streams of motor vehicle traffic occur;
• The condition of the roof and the exterior of the house;
• The interior condition of the walls, window frames, doors, ceiling and plumbing;
• The condition of the electrical compliance;
• The size or square footage of the home;
• The security systems installed;
• A well established garden and swimming pool will add to the value of the property.

Your Real Estate Agent is fully equipped to calculate the fair market value of a home. Your agent will guide and assist you to price your home correctly when selling. When buying a home your Real Estate Agent will help you to make the right offer.

HOW TO PRICE A HOME is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

Do not miss these amazing events:

• Take a tour through our listing of the Best & Most Well-liked Annual Events that take place in and around Nashville every year in the month of December.
• From the third week of November until the week after Christmas, Gaylord Opryland Hotel is host to many holiday events including the viewing their spectacular holiday lights, Ice, Breakfast with Charlie Brown, Radio City Christmas Spectacular, Treasures for the Holidays to taking a General Jackson Holiday Cruise. It is four weeks of non-stop activities.
• Nearly 2 million Christmas Lights and Nativities draw visitors from near and far to see this annual spectacular site of Nashville Christmas Lights. Viewing the this magnificent display is an annual tradition among locals and another favorite add on is taking a Horse-drawn Carriage Ride (Magnolia Portico) to enjoy the decorations and lights even more

Home ownership is better than renting:

By owning a home one invests into the property, so the money that you would normally use towards rent now goes into ownership. Once you know which home you want to buy, you should make an offer. Your real estate agent can assist you with the offer. Factors to consider are: The price should be in line with prices of similar homes in the area; the condition of the home (will it cost you a substantial amount of money to refurbish); has the home been on the market for some time now (the seller may be eager to accept a lower offer); make sure you can afford the offer. The closer your offer is to the asking price, the more likely your offer will be accepted. Offers often get rejected. The real estate agent will negotiate on your behalf.

When families enter into a contract to buy or sell a house, two things are true:

• The buyer wants to own the home.
• The seller wants to sell the home.

In order for both these things to take place, the transaction must be completed. That is not an easy task in the current market.  The National Association of Realtors (NAR) released their Existing Homes Sales Report yesterday. In the report, NAR announced that one out of every three contracts to purchase a home in October never made it to a closing table.  How does that ratio stack up against previous numbers? Cancellations have more than quadrupled in the last 14 months!  According to NAR, cancellations are caused by: “declined mortgage applications, failures in loan underwriting from appraised values coming in below the negotiated price, or other problems including home inspections and employment losses.”

Having someone who truly knows the market is crucial if you are planning to buy or sell a home. This expert should know what is happening in real estate, understand why it is happening and be able to simply and effectively explain each point to you and your family.  There can be consequences if you don’t have a true industry professional on your side.

No one can guarantee you won’t face challenges. However, the best agents and mortgage professionals know how to manage the expectations of all the parties involved thus dramatically increasing the chances your deal will close and you and your family will be able to move on with your lives.

Joy resounds in the hearts of those who believe in the miracle of Christmas!

Wishing you all the peace, joy, and love of the season! Season’s Greetings!

BUYING A HOME IS BETTER THAN RENTING is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

For many empty nesters, the decision to make a move from the place they have called home for so many years is a difficult one. After years of living in a house full of the noises and chatter of children, suddenly all that you can hear is the quiet hum of the refrigerator. There are pictures all over the house with fond memories associated with them but then there are many empty rooms also. These are rooms where your children used to live until it was time for them to move onto the next stage of your life and now the items in the rooms are only gathering dust.

Maybe it is now time even for you to move on to something better and downsize to a place that is more suitable for your retirement years. However, before you make the move, it is very important that you understand the most common and the most costly mistakes that most empty nesters make. Here are nine tips that can help you avoid these mistakes, make the most profit possible, and keep the home selling process under your own control and stress-free.

• Probably the first thing that you should know is why you are actually selling the house. This will decide the price that you set and also how much time and money you are willing to spend on getting your house ready for a sale. However, although it is important that you are clear about your objectives, don’t make the mistake of telling others about it or they would use it against you on the negotiating table. Instead, just say that your housing needs have changed.
• Make sure to research properly before setting a price for the property. By setting the price, you let the buyers know the maximum amount they will have to pay for the house, but don’t make the mistake of pricing it too low or too high. This is because, most buyers will look at around 20 houses and they know how to compare them. So, if your house does not compare well with others in your price range, you will not be able to turn any prospect into a buyer. This means that your house will be in the market for a long time and new buyers will start to wonder why your house hasn’t sold for so long.
• Your agent should be able to find out what other comparable homes are selling for in your own neighborhood. Get information about homes sold in the last 6 months and the homes that are currently listed. Remember, this is how your prospects will compare your house.
• Your Real Estate agent should be a good one. Good communication, good feedback, good pricing, and good relations with the agent are necessary for the success of any real estate deal.
• Make sure to make your house presentable. How the property looks on the outside and the inside is necessary to get a good offer. Clean up your house, remove the clutter, and fix everything that matters. Don’t go around pointing to prospective buyers how they can make improvements.
• Your prospects should be able to get any information about your house as easily as possible. It may surprise you but things such as traditional open houses are not always that effective.
• Your Real Estate Agent will negotiate on your behalf.
• As a seller, your Real Estate Agent will disclose everything. Any flaws present in the house should be disclosed to the buyer in writing so that later when a problem comes up, you don’t get slapped with a lawsuit. All terms, costs, and responsibilities should be clearly spelled out in the contract. Don’t deviate from what is listed in the contract. So, if the buyer asks for making the move before the closing, just say no. Do not take any risks that can potentially prove to be a deal breaker.

PLACE CALLED HOME is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

BUDGETING: A DIY SOLUTION:

Are you one of the millions whose ‘paper’ salary and ‘real’ salary don’t match up? Do you earn enough in theory but not in practice? As a result, are your monthly debt repayments stretching your finances to the limit – or beyond, forcing you to take out more credit? The good news is this: there is a solution to the problem – budgeting. The bad news is this: it can take quite a lot of self-discipline. Budgeting is all about income, expenditure, and closing the gap between the two.

Step 1 – theory

Write down everything you expect to earn / receive in a month. For most people, that’s the easy it. Now, write down everything you think you’ll spend in a month. This is where it gets tricky.

• First of all, there are some bills you don’t pay every month. You’ll need to track down all the paperwork, find the bills you pay every year or quarter and divide the numbers by 12 or 4 as appropriate.
• Second, some expenses are hard to track – particularly discretionary spending such as eating out, drinks, cigarettes, snacks, etc. This is why Step 2 is so important: keeping track of the dollars is relatively easy, but the cents really add up.

(If you’re not sure how to get started, it might be a good idea to get some professional debt help. There are plenty of organizations that offer free debt advice and help, whether you’re looking for in-depth financial guidance or just a bit of help drawing up an ‘Income & Expenditure’ table.)

Step 2 – practice

Spend a whole month writing down everything you spend. Tracking the 101 small expenses is critical – after all, you probably already know (more or less) what you spend on expensive things.

Step 3 – reflection

After the first month, take a good look at your notes. Go through your spending with a highlighter and mark all the expenses you could have avoided. Most people find they add up to a lot more than they thought. On the one hand, it’s depressing to see how money gets ‘wasted’; on the other hand, it’s encouraging to see how much you could save if you really put your mind to it. Hopefully, this should give you the incentive you need to keep going.

Step 4 – calculation

Figure out how much you could save every month if you cut out everything you don’t need.

• Could you walk instead of driving / taking public transport?
• Could you stop (or cut down on) smoking and socializing?
• Could you stop buying luxury items (fashionable clothes, CDs, etc.) for a while?

Next, figure out how far you want to take your economy drive. This is a decision only you can make, based on what you know about your debts, your income and – perhaps most important – yourself. Obviously, the more you cut back, the more progress you’ll make in paying off your debts. If you don’t think you could cut your discretionary spending by 100%, you can always reduce it by 75% or 50%, but of course you’ll have to do it for longer to get the same results. If you’re looking for motivation, find a reputable online ‘repayment calculator’ and see how much you could save by overpaying your debt repayments every month. (There are some kinds of debt that you can’t overpay, but it’s probably a good idea to focus on debts like store cards, credit cards and overdrafts anyway, as these tend to be high-interest debts which you can overpay.)

Step 5 – perseverance

Keep it up. Nobody likes economizing, so focus on the good points:

• Make a chart of your debts so you can see how fast they’re going down.
• Set yourself targets (10% paid off, only $500 left, one debt paid off, etc.)
• When you hit a target, celebrate!

Most of all, remember: however much money you’re putting towards your debts today will one day be yours to spend or save as you see fit. Think about what you’ll do with your income once it’s entirely yours again.

HEADING TOWARDS BUYING A HOME is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

Full Service Recording Studio-

Many artist recorder here-George Jones, Allison Krause, Marty Stewart, Clint Black, Patti Loveless, Emmy Lou Harris, Ricky Skaggs, Pantera-

Studio A&B~4 iso rms & Drm rm~vocal Ovr Dub~Reception ,3 Offices, 1.5 BA, Kitchen, Lounge~ New roof, HVAC.

What an incredible purchase! I get excited talking about the building, the opportunities and the history. Can you imagine? The building comes with all equipment too. Click here or complete information about this recording studio at 2935 Berry Hill Drive, Nashville.

2935 Berry Hill Drive Nashville, TN	Gorgeous Reception Area with High Ceilings and Hardwoods	Mixing Room is set up and ready to use. All equipment comes with.
One of three offices in the building	The recording studio.	Recording and Living area. This studio has 1.5 bath, kitchen, bedroom and living room.

2935 Berry Hill Drive – Recording Studio is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

Your credit rating is a score calculated by the lender based on your credit file, the amount you want to borrow, existing borrowings and the security you can put up. Your credit file is reviewed when applying for a homeowner loan, mortgage, and car finance and sometimes when applying for a job. Your credit rating can be considered your trustworthiness to repay the amount borrowed. It’s important that you know what your credit rating is and how to maintain it.

Good, Bad or Wrong?

A bad credit rating can be repaired and is not something to worry about long-term. However, if you are looking for a loan quickly, you will find fewer lending institutions willing to lend you money. Lenders that are willing to consider a consumer with an adverse credit history will charge greater interest rates.

A good credit rating will attract more loan companies offering larger amounts of money, more competitive interest rates and more flexible payment agreements.

Research states that around 80% of the credit files maintained by credit agencies contain outdated or incorrect information.

How do I Access my Credit File?

The first step to maintaining a healthy credit rating is to request your credit file from Equifax, Experian and TransUnion. You are entitled to one free report per year, however, you should request a report from all three because the files that they hold maybe different.

Review your Credit File

Following is some of the most common errors and problems to look for when reviewing your credit file. If you notice any inaccuracies contact the credit agencies immediately. Keep copies of any correspondence and log all phone calls. Send copies of any documentation that supports you claim – do not send originals.

Basic Inaccuracies: Look for payments or accounts that are incorrectly recorded as late or unpaid. This can happen through no fault of your own when checks are late arriving or go missing in the post.

Identity Theft: This is a major concern of today and is one of the fastest growing crimes worldwide. Look for accounts that have been opened in your name without your knowledge or consent.

Credit File Requests: When you apply for a loan the lender will request your credit file. Each request is logged; carefully check for any fraudulent activates that could indicate an attempt at identity theft. Too many requests can be seen as detrimental by some lenders making it difficult to secure a loan.

Credit Fraud – Unauthorized Charges: Unauthorized use of your Credit Cards to purchase goods or services may go unnoticed, particularly if the fraud is through an account that you do not use regularly.

Manage your credit worthiness

Credit agencies do not check the correctness of any information that is passed to them from your creditors; it is your responsibility to ensure that your credit file is correctly maintained. Requesting your credit report once per year regardless of wither there is a problem obtaining credit or not is the best way to ensure the credit files held with the agencies are accurate.

GET READY TO BUY YOUR HOME! is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

No matter what time of year, there is always so much going on in Music City. Browse the Events Calendar for ideas for your Fall Break in Nashville!

Moving to Nashville is exciting. There are new friends to meet in a new neighborhood. Before you start unpacking, there are a few things that you have to attend to.

The movers just left leaving you alone at your new property.  It is time to sit down and list all those things you will have to do before relaxing on your couch and admiring your new possession.

Install new locks. Since you probably have no idea who has a copy of your current keys, it is best not to take any chances. Consider making an extra set of keys and giving the copy to your parents or best friend

Purchase a fire extinguisher for the kitchen and keep it handy. Check and replace if necessary, all the batteries in the smoke detectors.

If the house needs any preventive maintenance do it as early as possible. It will be really frustrating having to deal with contractors or paint while all your possessions are located inside the house.

Check to see that all possible damage, like wet wood conditions or walls’ deterioration.

Clean the gutters and downspouts and check that drain water is directed away from the house.

Service all heating equipment and check the chimney of the fireplace for possible damage.

All medicines, poisons, or other dangerous elements have to be kept in child proof cabinets and cupboards.

Keep flashlights, batteries, matches and candles in a special child proof drawer in an easy to reach place.

Consider recording all the important house data and keep the papers related to your house in a safe or a drawer that locks. Also save all receipts of money spent for permanent improvements, repairs and any damage you had to fix. These can later be used for tax deduction purposes.

After you are settled in, introduce yourself to your neighbors and offer them a “hello” gift. Usually people are shy to bang on your door and introduce themselves, so it is better if you break the ice by introducing yourself. One of the reasons people enjoys living where they live is they know their neighbors.

WELCOME TO NASHVILLE is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

When you are considering moving to a new area, there are a number of things you may want to look at before making your decision. You may want to find a job in certain area or move to somewhere that has better schools or more green spaces.

FINDING INFORMATION BEFORE YOU MOVE:

You can find out a lot about a new area to help you decide whether you want to move there or not. You can research about an area by visiting the local council website. The following list will assist you to information you would like to research. Some of the information you can find out includes:

• future planning developments
• council tax bands and charges
• local jobs and careers information
• school admission information
• local parks and recreation areas
• sports facilities
• arts and leisure events and facilities
• facilities for young people

The top five reasons given in the survey for buying a home, in order, are:

• Home ownership provides a stable and safe environment for children and other family members
•  Home ownership means the money you spend on housing goes towards building equity, rather than to a landlord.
• Home ownership creates the opportunity to pay off a mortgage and own your home by the time you retire
•  Home ownership creates the opportunity to live in a neighborhood that you enjoy
•  Home ownership allows you the right to decorate, modify and renovate your home as you see fit

To make certain that your home buying is a joyful experience, we provide our clients with the best service and advice. We have a history for successfully working within our market areas and are known for quality service and professionalism. You will receive client focused approach to buying a home and robust market knowledge and experience.

SIMPLY THE BEST is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate

Famous quote by Dr. Sun Wolf: “ Watching a child’s laughter teach a candle’s flame how to dance”. To assist people to find the home they were looking for, is what makes us dance with joy.

 Examine Your Needs and Lifestyle Choices

Before deciding which house to buy, think about your lifestyle, current and anticipated housing needs, and your budget. You’ll soon discover finding the right house involves striking a balance between your “must-haves” and your “nice-to-haves”. Here are some things to consider:

Look At How You Live

To start, take a look at your lifestyle. If you love to cook, you’ll want a well-equipped kitchen. If you’re into gardening, you’ll want a yard. If you’re planning your office at home, you may want a room for a separate library or work space. If you have several cars, you may require a larger garage or parking spaces.

Think About What You Might Need in the Future

As you think about your housing needs, it’s important to consider how long you may live in your home. If you’re newly married, you might not be concerned with a school district right now. But you could be in a few years. If you have aging parents, you may want to look at homes that offer living arrangements for them as well as you.

Identify Neighborhoods You Like

You need to think about a home’s location just as carefully as you do about a house’s features. In addition to considering the distance to work, you need to evaluate the availability of shopping, police and fire protection, medical facilities, school and day-care, traffic and parking, trash and garbage collection, recreational facilities, even places of worship.

Driving or walking around neighborhoods, looking at street maps of various neighborhoods, and talking with people you know who live in the neighborhood will help you better understand the pluses and minuses of the places you’re considering. A real estate agent can further help you identify neighborhoods where homes are more likely to appreciate in value.

Consider the Cost Of Living

Where you choose to live does make a difference from a cost of living standpoint. Not only can property taxes vary significantly from area to area, but so can the costs of commuting and home association fees.

Decide On the Type of Home You Want

Do you want a condominium, a town house, or a detached single-family home? Do you want brick, stone, stucco, wood, vinyl siding, or something else? Do you prefer a new home or an older one?

If you have the time and money to invest in fixing up a home, you might want to buy an older home that needs some work. A construction renovation mortgage can help with the expenses. Otherwise, you may opt to buy an older home that has the renovations already complete, or a new one that’s completely energy efficient.

Consider a Real Estate Agent

Some people turn to a real estate agent to help find the right home for them. Finding an agent who is familiar with the areas you’re interested in, has access to up-to-the-minute listing and is willing to do a lot of the legwork for you in finding homes that fit your criteria can be a big advantage. Be careful about walking into open houses or contacting listing agents directly since those agents legally represent the seller and it is in their best interest to get you to pay as high a price as possible. Always tell sellers’ agents that you have your own realtor representing you. We will be honored to be of service to you.

Real Estate causes happy people is a post from: Nashville, Brentwood and Franklin, Tennessee Real Estate