Affordable housing makes ownership possible

Tennessean.com – June 25, 2010

Ask a room full of people to define affordable housing and chances are you’ll get as many different answers as there are people in the room. For many, this concept carries with it the idea of Section 8 housing, which is a part of affordable housing, but certainly not the only meaning. The term “affordability” is defined by the U.S. Department of Housing and Urban Development as simply the ability for a household to expense no more than 30 percent of its annual income on housing.

For some households, 30 percent of annual income could mean Section 8 housing. But for many, especially those in the first-time buyer and workforce housing market, affordable housing means something totally different.

It means being able to find clean, safe housing within a reasonable distance of their job that is priced no higher than the area’s median housing price.

The Greater Nashville Association of Realtors just launched a new website that hopefully will help those buyers and Realtors locate housing options and home-buying assistance. Late last year, GNAR was chosen by the National Association of Realtors to be a pilot market for a new affordable housing website. The site, http://www.greaternashvillehomeprograms.com,  provides centralized information on programs available in the Greater Nashville area. Potential buyers can visit the site to find information on programs and packages from government and private nonprofit agencies, as well as answers to consumer issues like credit and lending.

Middle Tennessee is fortunate to have many organizations and agencies that offer multiple programs to assist potential homebuyers reach their goal of home ownership. Programs like the Tennessee Housing Development Agency’s Great Start and The Housing Fund’s Home Ownership NOW both provide things like down-payment assistance and closing costs to individuals and families who qualify.

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This article was brought to you by JoAnne Staler, Nashville  TN REALTOR with RE/MAX.  JoAnne is providing a unique level of service to  home buyers and home sellers in Nashville, Brentwood, Williamson County and Franklin, Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Franklin Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Nashville Tennessee MLS visit http://joannestaler.com/.

No matter what your price range JoAnne Staler can help you find your Nashville TN dream home.  Click here to recieve automatic emails of new listings that fit your home buying criteria.

Click here for more information on buying a home in Nashville TN.

According to the National Assoc. of Home Builders, 59% of Builders are downsizing. They are building smaller, ‘greener’ homes. Watch the following video for more details…

A property in this price range equipped for the gentleman or gentlewoman farmer is seldom found, especially located only minutes from the city and Nashville International Airport! 

Once you leave the highway and drive down the picturesque country lane to this charming mini farm located at 2921 Underwood Road, you’ll think think you’ve gone back in time. This lovingly renovated Mt. Juliet TN cottage with its picket fence & rocking chair porches boasts many recent updates without losing any farmhouse charm!

You’ll be surprised to find vaulted ceilings in the Living Room and Master, as well as a modern kitchen with miles of pristine white cabinets and appliances.

The guest bath is a beauty, and you can expect many cozy evenings spent in front of the stone fireplace.

The home has city water, but also a well which the current owner uses for the barn and irrigation. There is a three car carport, workshop area in the barn, new 25 year energy efficient roof, whirlpool and garden tubs, and L-O-O-O-O-W taxes!

This home is looking for a new owner who values peace and quiet, room to roam and keep a few animals, wants to garden, likes friendly neighbors, and wants to live without subdivision restrictions— just good ol’country living at its best!

Click here for more information on and photographs of this cottage and property for sale at 2921 Underwood Road

View a virtual tour of this unique property for sale in Mt. Juliet, TN by clicking here.

Click here to speak to JoAnne and set up a private tour of this mini farm in Mt. Juliet TN.

This Mt. Juliet Tennessee property for sale is listed by JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company.   JoAnne Staler is providing a unique level of service to home buyers and home sellers in Nashville, Bellevue, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit www.JoAnneStaler.com.

Buying or selling a home is one of the biggest events in your life.  Real estate sales are complex transactions in which innumerable snags can occur.  Be prepared with the tools you need to successfully navigate the real estate waters. 

With over 14 years of experience working in the Nashville real estate market I’ve put together an extensive collection of resources to guide homeowners, homebuyers and real estate investors through the process of selling and buying a house, condo or other Nashville TN property.  I hope the following tools will be of assistance to you in your Middle Tennessee real estate dealings.  And remember I can be reached directly by clicking here for one-on-one expert help and advice. That’s my job.

Rent Vs. Buy

What does the Anti-Foreclosure Plan mean for Nashville home owners and home buyers? 

JoAnne Staler has been awarded membership in the Certified Luxury Home Marketing Specialist’s (CLHMS) Million Dollar Guild in recognition of her knowledge, experience and expertise in the luxury home arena. Members of The Guild are specialists who have proven success in the million dollar and above real estate market.  

The Institute for Luxury Home Marketing is the premier independent authority in training and certification for real estate agents working in the luxury residential market.  As a designated Certified Luxury Home Marketing Specialist JoAnne has documented performance in the TOP 10% of her market, and has successfully demonstrated her expertise in the luxury home and estate home market.

JoAnne has represented buyers and sellers in  luxury home and golf club communities such as The Reserve at Temple Hills, Govenors Club, Annandale, Laurelbrooke, Legends Ridge, Fairview Plantation, Avalon, Milky Way Farms and many others in Williamson and Southwest Davidson counties. 

Selling millions of dollars of Nashville and Williamson county real estate every year since 1994, Joanne has a marketing plan to target those relocating buyers who desire a certain lifestyle which are afforded by a luxury neighborhood. She has also resided in the area over 30 years, has 14 years of full-time real estate practice and, via her three children, extensive knowledge of public, private, and parochial schools making her an excellent relocation resource.

For more specific information about luxury neighborhoods in Brentwood, Franklin, Green Hills or Belle Meade call JoAnne direct by clicking here or visit www.JoAnneStaler.com.

Click here to find out more information on the Institute for Luxury Home Marketing.

See some of JoAnne’s Nashville and Franklin TN luxury home and estate home listings here.

Read more about JoAnne Staler Franklin TN real estate agent.

JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit www.JoAnneStaler.com.

It is a great time to buy a home in Nashville, TN while mortgage loan interest rates are very low!

Freddie Mac’s Primary Mortgage Market Survey showed that the 30-year fixed-rate mortgage (FRM) averaged 5.47 percent, down from the prior week when it averaged 5.53 percent and from the prior month with November ending with an average of 5.97 percent. At 5.47 percent the 30-year FRM is at its lowest point for all of 2008!

One-year Treasury-indexed ARMs averaged 5.09 percent last week, down from the previous month when it averaged 5.18 percent.

“After Federal Reserve actions to increase liquidity in the mortgage market, interest rates for fixed-rate mortgages (FRMs) took a dive,” said Frank Nothaft, Freddie Mac vice president and chief economist. “This week’s decline was the largest since the week of November 27th, 1981, and 30-year FRM rates are now almost a full percentage point lower since the last week in October.”

[SOURCE: Freddie Mac]

Click here for more Nashville TN mortgage information.

Prequalify for your Nashville TN mortage online here.  Quick and easy!

Have mortgage questions?  I can help…. click here to contact me directly.

This information was brought to you by JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit www.JoAnneStaler.com.

The Tennessean newspaper reports: At the 2008 Governor’s Housing Summit in Nashville last week, the state’s Attorney General warned of an increase in Tennessee foreclosure scams…..

*** BEGIN QUOTE ***
“Scams built around false promises to help borrowers facing foreclosure hold onto their homes — perhaps perpetrated by some of the same people who issued predatory loans to begin with — appear to be on the rise, the state’s attorney general told housing officials Monday.

The state has filed lawsuits against two “foreclosure rescue” companies that it says promised to help borrowers restructure mortgages but instead pocketed fees without following through, Attorney General Robert E. Cooper Jr. said in an introductory address to the 2008 Governor’s Housing Summit in Nashville.

A group of Tennessee agencies, including the Office of the Attorney General and the Division of Consumer Affairs, believes the rise in foreclosures statewide has touched off a wave of deception aimed at capitalizing on struggling borrowers’ desperation.
*** END QUOTE ***

To read the news report (from the TENNESSEAN) on the Attorney General’s remarks, go HERE.

This information was brought to you by JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit www.JoAnneStaler.com.

 Click here to search the Nashville MLS and see all local homes for sale.

Read about mortgage changes that may affect you here.

An article by Patrick Rucker WASHINGTON (Reuters) reports sales of previously owned U.S. homes rose 5.5 percent last month, the biggest gain since July 2003, and the inventory of unsold homes fell, a hopeful sign for the housing market. The article also states that The National Association of Realtors said on Friday that sales of existing homes rose to a 5.18 million-unit annual rate from the 4.91 million unit pace set in August.

Economists had expected sales to rise to only a 4.93 million unit rate. It was the first time the sales pace had risen above its year ago level in nearly three years, a sign the market could be stabilizing. The surprisingly large jump in sales pushed the inventory of unsold homes down by 1.6 percent to 4.27 million, or a 9.9 months’ supply at the current pace, the lowest since February. “We’re not out of the woods yet by any means when it comes to falling house prices and our fundamental problem of an oversupply of homes, but we’re getting near to the bottom every day,” said White House spokeswoman Dana Perino. Home prices, however, showed no signs of escaping their long, deep slide and economists said the number of homes on the market would likely have to fall further before they do. The median national home price declined 9 percent from a year ago to $191,600, the lowest level since April 2004. “As the median price continues to decline, seeking out that new equilibrium level, demand is — slowly and hesitantly — moving back into the market,” said Lindsey Piegza, an economic analyst at FTN Financial in New York. A Reuters poll taken October 21-24 found economists expect prices to continue to fall through next year. The median forecast from the survey was for a 15 percent drop this year and a 6.4 percent fall in 2009. Economists expect prices to turn up in 2010, but by a meager 1 percent. ‘VULTURE INVESTORS’ Rising U.S. mortgage defaults have sent credit markets into a tailspin, threatening economies worldwide. A majority of economists polled said finding a floor for house prices is an essential condition for ending the financial crisis. In order for prices to recover, the glut of unsold homes needs to be whittled down further, analysts said. “Most, if not all, the rise in sales is due to vulture investors buying cheap foreclosed homes, but all sales reduce inventory,” said Ian Shepherdson, the chief U.S. economist at High Frequency Economics in Valhalla, New York. “If this continues, people will stop expecting further price falls and activity will start to recover.” Lawrence Yun, the chief economist for the Realtors’ trade group, also pointed to a rise in foreclosure and other ‘distress’ sales in regions hard-hit by the housing downturn. “In some regions, the lower prices are seeing buyers return to the marketplace,” he said. “This was a nice jump and hopefully this trend can continue because the first step to stabilizing the market is an increase in home sales.”

Sales jumped 16.8 percent in the West, while rising 4.4 percent in the Midwest and 2.2 percent in the South. In the Northeast, sales fell 1.2 percent. Sales of single-family homes, which represent the lion’s share of the market, rose 6.2 percent. Sales of condominiums held steady. “We’re still struggling with falling home prices and we will for a while, but we’re forming a bottom here,” said Bob Walters, chief economist at Quicken Loans in Livonia, Michigan. (Additional reporting by Pedro Nicolaci da DaCosta, Ellen Freilich and Nick Olivari in New York; Polling by Bangalore polling unit; Editing by Andrea Ricci)

Click here to read the aforementioned article in its entirity.

This article was brought to you by JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit http://www.JoAnnestaler.com/.

Review Williamson County Tennessee Home Sale Statistics for 2008

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