Cookeville Tennessee Blog

August 7th, 2010 - Jackson County Election

I attended an event that I will never forget this week. A friend of my husbands, Brandon Ward, ran for county mayor. So he invited us to attend the election results announcement in Gainesboro, with him. When I asked my husband what in the world we would be doing, he said, "Well, we will just hang out by the courthouse." Hmmm, interesting evening, seeing how I only met Brandon one other time briefly. I couldn't see spending two hours or more standing on the street with no one I knew in sight. But for the sake of being a good friend, my husband and I went.

As we arrived I quickly noticed that it seemed like the entire Jackson County population was in attendance for this event. Cars and trucks were parked in every spot they could fit. Streets were closed. And people were sitting in lawn chairs or standing around, everywhere you looked. What you heard throughout the night were the bids called out as they arrived from their precincts. I have to say, that this community has shown me a new love and appreciation for a small town. Everyone really felt like their vote was important and they intended on being there for whomever they voted for.

In the end, Brandon didn't win. But at 27 years old, he ran a close race. He was in third place and was only about 78 votes away from winning. It was an awesome evening and quite enjoyable to step back in time a little bit. I hope that he runs again in four years. I think he will stand a good chance of winning and should be proud of himself to run for such an important position.

Brandon, here's to 2014! We will be looking forward to helping you next time and I'll be excited to be able to do this all over again!

July 31, 2010 - 8 Solutions to Common Wet-Basement Problems

By: Jeanne Huber

Solving wet-basement problems is one of the most important things you can do to protect the value of your home and health of your family.

If water can't be diverted on the outside, it must be pumped out from the inside with an interior drain system.

Nothing poses a greater long-term risk to your home’s value than a wet basement. If left unchecked, basement moisture can ruin floors and walls, encourage mold, even damage roofing. Some wet basements are easy to cure, simply by making sure gutters stay clear and by diverting gutter water well away from the foundation. But if the problem comes from other sources—water flowing toward the house on the surface, seeping in from underground, or backing up through municipal storm drains—you’ve got to take more aggressive action. Here’s help with figuring out what may be causing your water trouble, and eight basement waterproofing strategies to try, from the simplest and least expensive to the most challenging and costly.

1. Add underground piping

If downspouts are dumping too close to the house, you can get water the recommended five feet or more away from the foundation by adding roll-out plastic or metal gutter extenders. But they aren’t the neatest or most effective long-term solution, especially if you’re likely to trip on them or run over them with a lawnmower. Permanent underground piping is invisible and capable of moving large quantities of runoff much farther from your house. For about $10 a foot, a landscaper or waterproofing contractor will dig a trench and install piping to carry the water safely away.

2. Plug gaps

If you see water dribbling into the basement through cracks or gaps around plumbing pipes, you can plug the openings yourself with hydraulic cement or polyurethane caulk for less than $20. Plugs work when the problem is simply a hole that water oozes through, either from surface runoff or from wet soil. But if the water is coming up through the floor, or at the joint where floor and walls meet, the problem is ground water, and plugs won’t do the trick. For that, see Solutions #5 though #7 below.

3. Restore the crown

If the gutters are working and you’ve plugged obvious holes, but you still see water dribbling into your basement or crawl space from high on the foundation walls, then surface water isn’t draining away from the house as it should. Your house should sit on a “crown” of soil that slopes at least six inches over the first 10 feet in all directions. Over time, the soil around the foundation may have settled. All you need to do to build it back up is shovel in more dirt. One cubic yard of a water-shedding clay-loam mix from a landscape supply house costs around $30 (plus delivery) and is enough for a two-foot-wide, three-inch-deep layer along 57 feet of foundation.

4. Reshape the landscape

If you can’t add soil without bringing it too close to the siding—six inches is the minimum safe distance to protect against rot and termites—then you may be able to redirect surface water before it reaches the house by creating a berm (a mound of dirt) or a swale (a wide, shallow ditch). In small areas, berms are easy; a landscape contractor can build one for a few hundred dollars. On bigger projects, berms make less sense because you’ll have to truck in too much soil. In that case, dig a swale (about $1,000). Once landscaping grows in, berms and swales can be attractive features in your yard.

5. Repair footing drains

If water is leaking into your basement low on the walls or at the seams where walls meet the floor, your issue isn’t surface water, it’s hydrostatic pressure pushing out water within the ground. The first thing to do is check whether you have footing drains, underground pipes installed when the house was built to carry water away from the foundation. (Look for a manhole or drain in the basement floor or a cleanout pipe capped a few inches above the floor.) The drains may be clogged, in which case you can try opening the cleanout and flushing the pipes with a garden hose. If that doesn’t work, a plumber with an augur can often do the job for about $600.

6. Install a curtain drain around the house

If you don’t have footing drains or can’t get the existing ones to function, there’s one more thing you can try before you invest in a costly interior or exterior basement waterproofing system: Install a curtain drain to divert water that’s traveling underground toward your house. A type of French drain, a curtain drain is a shallow trench filled with gravel and piping that intercepts water uphill of your house and carries it down the slope a safe distance away.

7. Pump the water out from the inside

If you can’t keep subsurface water out, then you have to address it on the inside. To create an interior drain system, crews saw a channel around the perimeter of the floor, chip out the concrete, and lay perforated pipe in the hole. The pipe drains to collection tank at the basement’s low spot, where a sump pump sends it away. Starting at about $3,000, an interior system may be the least expensive and disruptive option if you have an unfinished basement with easy access, or a lot of mature landscaping that digging for an exterior system would destroy.

8. Waterproof from the outside

Installing an interior drainage system gets the water out but doesn’t actually waterproof the walls. For that, you need an exterior system: a French drain to relieve hydrostatic pressure and exterior waterproofing to protect the foundation. It’s a big job that requires excavating around the house, but it may be the best solution if you have a foundation with numerous gaps where water is getting through. It also keeps the mess and water outside, which may be your choice if you don’t want to tear up a finished basement. The downside, besides a price tag that can reach $20,000, is that your yard takes a beating, and you may need to remove decks or walkways.

Jeanne Huber is the author of 10 books about home improvement and writes a weekly column about home care for The Washington Post. She solved her first drainage mystery when her family’s frequent sneezing attacks led her to discover mildew coating the underside of their house’s roof. Turns out basement flooding (see Sign #6) was to blame.

July 20, 2010 - Fielding a Lowball Purchase Offer on Your Home

By: Marcie Geffner

Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale.

You just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal.

Check your emotions

A purchase offer, even a very low one, means someone wants to purchase your home. Unless the offer is laughably low, it deserves a cordial response, whether that’s a counteroffer or an outright rejection. Remain calm and discuss with your real estate agent the many ways you can respond to a lowball purchase offer.

Counter the purchase offer

Unless you’ve received multiple purchase offers, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay, or they want to test your limits.

A counteroffer signals that you’re willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you’d like to take with you.

Consider the terms

Price is paramount for most buyers and sellers, but it’s not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is preapproved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.

Review your comps

Ask your REALTOR® whether any homes that are comparable to yours (known as “comps”) have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

Consider the buyer’s comps

Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that justify your asking price.

If the buyers don’t include comps to justify their low purchase offer, have your real estate agent ask the buyers’ agent for those comps.

Get the agents together

If the purchase offer is too low to counter, but you don’t have a better option, ask your real estate agent to call the buyer’s agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your real estate agent whether the buyer (or buyer’s agent) has a reputation for lowball purchase offers. If that’s the case, you might feel freer to reject the offer.

Don’t signal desperation

Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home’s listing describes you as a “motivated” seller, you’re signaling you’re open to a low offer.

If you can remedy the situation, maybe by renting furniture or asking your agent not to mention in your home listing that you’re motivated, the next purchase offer you get might be more to your liking.

Marcie Geffner is a freelance reporter who has been writing about real estate, homeownership and mortgages for 20 years. She owns a ranch-style house built in 1941 and updated in the 1990s, in Los Angeles.

June 25, 2010 - Who Can Perform Your Home Inspection?

Does your home inspection have to be performed by a licensed home inspector? Can you terminate your contract on the opinion of a third party inspector?

If someone is performing a home inspection on an entire house, then they have to be a licensed home inspector. If someone is inspecting a particular component of the house, then if they meet state requirements for that field, they may inspect that particular item. For instance, you can have a heating and cooling company inspect the CH/A.

You can even perform your own home inspection. Additionally, the seller would be bound by the list provided by you. However, the seller is not obligated to respond to the list that was provided from a third party (brother Joe the builder) who "inspected" the house. If the seller does not want to honor a list provided by the buyer, then he/she should negotiate that on the front end.

- Provided by the Tennessee Assocation of REALTORs

April 24, 2010 - Nearing the end of the tax credit and hopefully the end of some pain...

April 30th is now less than a week away. As you can tell, I have not been blogging much lately, as it has been extremely busy. Just like any time in life, we all wait till the last minute. So April has been a pretty hot month for the market. I've had people rushing to list, while they still have a good chance of getting a first timer to buy their home. And I've had the buyers of course, wanting to get their $8000. Who wouldn't??!! There has really never been a better time to buy! Even the weather cooperated enough to allow us to show and list with no rain. Just today it rained, as we really have needed it.

If you're on the fence about buying, it would be well worth the effort to move forward on a home before the 30th. There is no news at all about an extension for this credit. To be honest, I would rather see a break of say three months and then an implantation of it for another three months or so. You see, the market of first time buyers and move up buyers needs to rebuild itself in order for it to make sense for it to be used again.

On a side note, I have to give some advice. I've recently had some extremely impacted wisdom teeth removed. I've had four other teeth extracted over the years with no pain at all. This time around, a week later, I am still in pain. So much so that it's all I can think about it. What I am saying is that at 30 years old, I would have much rather have less pain at a younger age. So if you have kids who need theirs out or you are at the young ripe age to have them removed....DO IT! Don't wait! It's just not worth the laid back attitude of let's just wait and see it they ever bother me!

Until next time...

March 17, 2010 - HOT OFF THE PRESS!!! THIS JUST IN!!!

I have to say that I was shocked by this news! I have seen the market being better than last year, but I am still on track at this point to do the same sales as last year. Of course, if all continues to be stable throughout the year, I will do more. But I would suspect that won't be the case after the tax credit expires April 30, 2010. This e-mail sounds great, let's hope it's correct. I am forecasting a little different year though.

From Facebook...

Colleen Edwards sent a message to the members of Upper Cumberland Association of
Realtors.

--------------------
Subject: Press Release

The following was just released

Real Estate Sales Jump

The real estate market in the Upper Cumberland continues to improve as
year-to-date sales jump 20% over same time last year; this according to the
Upper Cumberland Association of Realtors. Although, the total units sold are
less than units sold in the fourth quarter of 2009, all other market indicators
point to a strong recovery. The number of residential homes sold has increased
in almost every price range including the upper end homes that struggled to sell
in previous years. Currently, residential home sales for properties priced
between $250,000- $299,000 have doubled and homes priced between $300,000 and
$399,000 have tripled. Even the average price year-to-date for sold residential
property has increased- it is currently at $120,000 versus $108,000 for same
time last year.

Price reductions, foreclosures, tax credits, and low interest rates account for
the increase in home sales. With winter weather in the past and the onset of
the spring and summer buying season, which typically accounts for 60% of homes
sales, this could be the best year in real estate since the market declines
that began in 2007.

Channel 4 News
March 12, 2010

Thank you to Channel 4 News! They seem to show attention to the Cookeville area more than the other channels. It's nice to get a little attention. I think the other channels see us as being too far away to pay much attention to, unless something horrible happens.

So if you are just visiting the area and want to see what might be happening in the Upper Cumberland, then watch News Channel 4.

School Zoning
March 12, 2010

Hooorraaaayyy!!! The local schools are finally going to crack down some on zoning. This is only fair to those who buy in the correct areas for their children to go to the schools of their choice. It's the folks who come from the other side of the county to go to a more desirable school and causing overcrowding that are taking away from the kids whose parents did the right thing.

I see this being beneficial for the children and for property values. Once this is in place and there are no if's, and's or but's, homes in the areas withthe more desirable schools nearby, will go up in value.

So if you are withchildren and you are choosy about where your kids go to school, then consider where are you moving as a big deal next time. Otherwise, things may not work out for you...like they have been.

Title Insurance Policies

What are Title Insurance Policies - Do You Need Title Insurance?

By Elizabeth Weintraub, About.com Guide

Title Policies Protect You Regardless of Home's Age

To understand title policy insurance in America, let's look at chain-of-title and how title companies search the public records. Title insurance companies aren't really concerned with where dinosaurs once roamed, whether our ancestors trekked across the Bering Straight or where American Indian tribes settled. Title searches begin with when the United States government stole the land, I mean claimed it -- from the U. S. patent -- and move forward from that point.

Because humans are involved in recording deed transfers and plotting land parcels, a lot can go wrong. You want title insurance because it will protect you against defects and human error.

Title Search Basics

Title searches start with the most recent deed, searching the grantee's name (the person now holding title) backwards in time, until the deed when the grantee acquired the property is located.
That grantor's name is then searched backwards in time in the grantee's book to find when the grantor acquired title as a grantee.
This process continues, and over time, the property description involves larger and larger parcels of land.
Eventually, the searcher finds the U. S. Patent.

Other Factors Affecting Title

Deeds establish chain-of-title, but sometimes those chains are broken. In addition, title searchers also look for reconveyances (proof that the encumbrances are paid off), and they look for easements, rights-of-way, CC&Rs, other elements affecting title to the property. Here are more records that are searched to piece title together:

Marriage records
Death certificates
Tax sales

Title Insurance Coverage

Depending on the title company, consumers can choose among a variety of options, but the top three choices are Owners, Lender's and Extended Coverage.

Basic Owner's Title Policy Coverage:

1. Clear title to the property

2. Incorrect signatures on documents

3. Forgery, fraud

4. Defective recordation

5. Restrictive covenants

6. Encumbrances or judgments

Basic Lender's Title Policy Coverage:

1. Mechanic's liens and unrecorded liens

2. Unrecorded easements and access rights

3. Defects and other unrecorded documents

Extended Owner's Coverage

1. Building permit violations from previous owners

2. Subdivision maps

3. Covenant violations from previous owners

4. Living trusts

5. Structure damage from mineral extractions

6. Variety of encroachments and forgeries after title insurance is issued

Who Pays For Title Policy Insurance?

This depends on your local custom.
It can differ from county to county, but it is also negotiable in the purchase offer.
Sometimes sellers and buyers split the fee for the owner's policy.
Typically, the buyer pays for the lender's coverage.

How Long Are Title Policies Good For?

Forever, theoretically. If you are planning to resell the property within a couple years, ask your title company about "binder" coverage. Most companies will sell you a binder policy for 10% more. A binder is good for two years, often can be extended beyond that time, and the fee charged for the new buyer's policy will be the difference between what you bought the property for and the price at which it sold. In other words, you will get a credit for the amount of coverage you purchased under your own Owner's Title policy.

How Often Are Title Policy Insurance Premiums Paid?

Once. The fee is due when you buy. You will never pay it again. Title policy insurance is the best insurance policy you can ever buy.

My notes: I don't think that titile insurance should be purchased 100% of the time. I just feel like it would be a waste of money for some. But a lot of times I see folks turn down title insurance that I feellike really should have bought it. I know out of pocket money is tight at a time of closing, but this is something that shouldn't be passed on at times. Here are the scenarios that I think title insurance, without a doubt should be purchased:

- when the property being purchased is a foreclosure or a short sale
- when someone is paying all cash, or a large amount of equity will be had
- when the seller is deceased and heirs are selling the property
- when there is a bankruptcy or divorce involved

I am by no means an attorney. But this is the best advice I can give. As a REALTOR, I can tell a buyer whether or not I would purchase it. A title company or attorney on the other hand cannot. So look to your agent when it comes time to make that decision. We will hope that your agent knows enough about title insurance to advise you. Unfortunately some are not educated enough when it comes to this to give any advice. That's why I'd be a great compliment to your real estate transaction!

Year End Statistics for the Upper Cumberland Real Estate Market

Wellit looks like the market wasn't as good as it was in 2008, but it wasn't far off from it. We are anticipating a great 2010! Now's the time to take advantage of the lower prices before they go back up!

- Residential market stats for year-end 2009

- Units sold 1244

- Median sold price $108,000

- Average sold price $122,867

- Average DOM 157

- Total dollar volume $152,350,224

Summary:

2009 ended with 8% less homes sold than in 2008. Homes priced below $140,000 sold the strongest outpacing supply indicating a strong sellers market. Homes above $140,000 are still in a buyers market.

Currently there are 1471 homes for sale in our area, down from an average of 1550. This is an excellent sign that inventory levels are balancing with sales levels.

According to NAR homes sales in 2010 should increase by 15% and Realtor income should increase by 20%.

- This info was given by the Upper Cumberland Association of REALTORs.

December 30, 2009 - Christmas is Over and the New Year is Upon Us

What a wonderful Christmas it was! I have to say I think this was the best Christmas ever. There is absolutely nothing like having a child at a time like this. I can easily see why my parents say that the happiest times of their lives were when my sister and I were younger.

Now onto business. It seems to be a little bit more promising right now. Some clients of mine on BayshoreDrive, got a great late Christmas present. On the day after Christmas their home got an offer on it, from a showing that very day! It appears as though allis good, as long as inspections and other contingencies are met. This goes to show that even though we are in the midst of the holidays things still happen! These folks had even pulled their home from the market, but later allowed me to put it back on because they doubted the timing.

I foresee January to be a fairly busy month. Lots of folks wait till after the first of the year to put their homes on the market and lots of folks wait to buy until after then. That always means we see an increase in activity. So let's get going! Either venture into the market can mean big returns later. Ask me how you can take advantage of all that there is to offer right now.

One last bit of advice. I actually had a customer hang up on me this week because she was offended that I tried to find out a little bit more about her. Folks, as I told her, I am going to be stepping into empty homes with someone I know nothing of. So I need to be aware of who I am working with. I don't need to know your social security number, your children's names, your age. All that I ask for are the basics to see if you are qualified to actually be looking at homes. Sellers hire us for many reasons and this is one of the main ones. So as a buyer, if an agent asks you a little bit more than you feel comfortable telling them, just remember how you would feel being alone in a home with someone you don't know. Safety is a big concern and time is money!

Until next time...

December 22, 2009 - Only Three Days Until Christmas!!! Plus price adjustments and when to be more aggressive.

What an exciting time it is! And believe it or not, offers are still coming in. I got one this week and wrote one this week. Times are not too bad. Let's hope for all parties involved that things work out.

As to real estate advice that I might be able to provide today, here we go. The topic today will be price adjustments. If it looks like things are going slowly with your property, meaning no showings, or even lots of showings and no offers, it may be time to rethink things. There is nothing that the right price won't cure. For example, even on my own home that I sold years ago, I got to the point of being ready to get it gone. So I started a reduction plan of a drop of $1500 a week, until I got an offer. Of course the weekly, or set amount will vary depending on how much the home is priced at. Higher priced homes may even need drops of $5000 a week. You can adjust the amount and frequency according to how aggressive you want or need to be.

I know there are a lot of folks out there right now that would love to get their home sold. But they are still holding out for more money and potentially missing out on some awesome deals that will eventually make the difference and then some up in the future.

I was once told by another older and wiser agent, "don't let your pride get in the way of your pocketbook". That was some really good advice that I hope you too can live by.

December 18, 2009 - New web site up and running.

The nervousnessis over. And it looks like all is working well. I think the Internet service (DSL) here has been a little slow the last couple of days. So that's making my site look like it takes forever to do anything.

Well here we are less than a week away from Christmas morning!!! I can't wait. My little boy is three and is so excited about it. I think we are more excited than he is. And just a quick cute story about him. He saw this toy at Bass Pro Shops the other day that has a truck, boat, dog and some other little things. Anyway, he has been talking about it ever since. Thank goodnessmy mother-in-law bought it while we were there for a present from Santa. Well Barrett went to see Santa the other day and I think Santa was concerned for us when Barrett yelled out that he wants a boat, a dogie and a truck! Wow! That's a lot. HeHe.......

When it comes to real estate, right now it seems to be pretty steady. The market is a a touch slower, as it always is this time of year. But the tax credits are keeping us moving with buyers wanting to take advantage of them. Just a reminder you can click above to see additional info on both of them to see if you qualify. If you do, let's get the ball rolling and start looking. There's no better time than now!

November 17, 2009 - Just a little motivation for you . . .

My husband likes to send me things like this every once in a while to get me going. I thought I might share this with you.

Main Entry: suc·cess

Function: noun

Etymology: Latin successus, from succedere

Date: 1537

1 obsolete : outcome, result
2 a : degree or measure of succeeding b : favorable or desired outcome; also : the attainment of wealth, favor, or eminence
3 : one that succeeds

Main Entry: suc·cess·ful

Function: adjective

Date: 1588

1 : resulting or terminating in success <a successful attempt>
2 : gaining or having gained success <a successful investor>

— suc·cess·ful·ness noun

Main Entry: tri·um·phant

Function: adjective

Date: 15th century

1 : victorious, conquering <triumphant armies>
2 archaic : of or relating to a triumph
3 : rejoicing for or celebrating victory <a triumphant shout>
4 : notably successful <a triumphant performance>

— tri·um·phant·ly adverb

Main Entry: pros·per·ous

Function: adjective

Etymology: Middle English, from Medieval Latin prosperosus, from Latin prosperus

Date: 15th century

1 : auspicious, favorable
2 a : marked by success or economic well-being b : enjoying vigorous and healthy growth : flourishing

— pros·per·ous·ly adverb

— pros·per·ous·ness noun

Main Entry: de·ter·mined

Function: adjective

Date: 1513

1 : having reached a decision : firmly resolved <determined to be a pilot>
2 a : showing determination <a determined effort> b : characterized by determination <will deter all but the most determined thief — security world>

November 16, 2009 - Upper Cumberland Market Stats

Market Stats for Residential Property
January- October 2009

Sold Units 1188
Available Properties 1567
Median Sold Price $108,125
Average Sold Price $123,823
Average Days on Market 156
Total Home Sales Dollar Vol. $130,019,651

Currently, UCARis 12% below units sold versus same time last year. This is a substantial improvement over previous months when the market was off by 30%. If sales continue to hold steady through the remainder of the year UCAR should tie 2008 units sold.

Average price is $125,828 which is approximately $10,000 less than the average price of homes sold last year. However, this is largely the result of first time homebuyers taking advantage of the $8000 tax credit.

November 16, 2009 - How to Avoid Foreclosure

This is a great article I found that may just help you get on the right track...

How Your Clients Can Avoid Foreclosure

Market Issues by Jeff Mandel and Marlin Brandt Print Article
RISMEDIA, April 13, 2009

A total of 3.2 million foreclosure filings from default notices, auction sale notices and bank repossessions were reported on 2.3 million U.S. properties during 2008, a 225% increase in total properties from 2006, according to HUD statistics.

The challenge to everyday families who typically pay their home payment on time is overwhelming. Double-digit unemployment rates coupled with ever-worsening economic conditions are leaving American families tapped out. Now is the time to implement a strategy because good solutions exist.

So what should homeowners do when they start falling behind on mortgage payments? The most important step to take is to get help early from their mortgage lender. They should be prepared to provide details about their household, such as how much money they earn, all the bills and household costs, such as food, electric, water and even pet expenses.

Some options a lender may offer include:

Deferment-If the problem is short-term they may bring the homeowner’s account up to date and “defer” late payment expenses to the end of your loan. This usually still requires a partial good faith payment.

Repayment Plan-You may be able to catch up on missed payments by creating a schedule for repaying the past-due amounts.

Refinance-Fixed 30-year rates are very low and often can provide the lower payment relief and fresh start that some homeowners need.

Modification-In some cases, mortgage loan terms can be changed on a temporary or permanent basis to make the payment more affordable. This could include extending the term of your loan up to 40 years, reducing your mortgage interest rate and reducing or deferring your principal balance.

Jeff Mandel is president and CEO of iQual and Marlin Brandt is COO of ApprovalGUARD

October 21, 2009 - Open House - What is it? How does it work?

I had a seller ask me today, as many have over the years, "what actually is an open house?" An open house is a set time period where that the public is able to visit your home. An agent hosts the open house and prospects view the home while the agent shows them through it. People find out about the open house through web site advertising, newspaper ads, and directional signs.

After a description of what an open house is, I always get the question, "will anyone come" or "how many do you expect?" We may actually not get a single person. But we may get 15 groups. You never know. It only takes one person to buy the home.

Another comment to make about open houses is that they are really not that important to sell a home. You see, most people who visit an open house, are not going to buy the home they see. So an agent hosting the open house will hopefully gain that person as a client and a future sale. So more than anything they are a tool for agents to get buyers.

You may ask "is it worth doing an open house as a seller?" Well it may be. Again, remember it only takes one person. It's kind of like the lottery. You have to gamble to possibly win.

October 17, 2009 - The cold weather has come to stay a while.

It has arrived! Although it is fall, it feels and looks like winter here in Cookeville, Tennessee. What does this time of year mean for the realestate market in the Highlands of Tennessee? Many different things...less buyers in the market, less inventory, this year the end of the first time home buyer credit, and hopefullythe continuance of low to lower interest rates. If you're a buyer in this market, continue to keep looking! Don't wait tillspring. Some sellers are stilleager to selland withless buyers looking, they tend to be more negotiable. There's no better time to buy! If you're a seller, keep at it. If you're like most people, you think the spring willbe the best time to selland it's actuallynot. You see there willbe an influx of homes coming onto the market at that time. So you have more properties to compete with. Right now you have little competition and not many "tire kickers" out there running through your home. Allin all, let's keep looking and marketing, good buys and results can be found even in cold weather! Call me if I can be of ANY help.

October 10, 2009 - New listing that I think is a great deal!

I listed a great house on Partridge Trail in Prosperity Pointe. I love the floor plan and I think you will too. It's so new it's not on my site yet, but will be shortly. It has three bedrooms and two bonus areas. There's also lots of hardwood flooring, a pretty corner FP, gorgeous kitchen with island, and a new low price of $199,929. Watch for it on my site. If you are too anxious and want to know about it now, contact me for more info.

October 9, 2009 - Market Stats

As of September 30, 2009 (since January 1, 2009) - market stats are as follows...there have been 2372 listings enter the market, the median sold price was $108,900, the average sold price was $126,100, the average days on market was 155. I attended a strategic planning meeting with the Upper Cumberland Association of REALTORs, where I was informed of these numbers. I was also very surprised to learn all that the association does for the REALTORs. This is a group of unpaid volunteers who make it not only easier for me to do my job, but also help the consumer to make their transaction a more secure and smooth one.

October 7, 2009 - New Blog Ideas

I have decided that this blog needs to be informative enough that you want to keep coming back to check up on it. So here we go...rates are below 5% right now! The first time home buyers credit is going to expire soon. Prices are down. There's a large inventory of homes available. And at the beginning of the year new laws are going to be implemented which are going to cause delays and there is going to be a need for stronger buyers. It will become more difficult to get a loan. Now is the time. Be prepared for market stats in my coming notes.

October 2, 2009 - Please Please Hope for this to Happen!

It's been a while since I've blogged. I've been busy. I am actually going to make this one short and sweet. We all need to hope for an extension of the first time home buyer credit. It ends November 30. I don't know what will happen with the market after that. So please please government extend this part of the stimulus package!!!! We really need it to continue making this market what it is right now.

July 27, 2009 - School is in right around the corner

Before we know it, this relaxing summer break is going to be over. August 10th is the first day back to school here in the Highlands of Tennessee. Seems to come too quick. My little boy doesn't go to school yet. But he does go to a mother's day out program and they run their schedule with the school schedule. So before too long he and I will be up early on Tuesdays and Thursdays trying to rush out of the house. One of the great aspects of Cookeville is the amount of mother's day out programs to pick from. It's so nice to get a little time to yourself and let them play games, do projects, and interact with other little ones. I've been impressed with how much he learned last year. So if you've got a child not yet in school and he or she is walking, check around here in the Cookeville/Algood area and find yourself a place that works for your little one. I think you'll find that it's a great opportunity for both of you. We have such talented help in this area, the kids seem to love their teachers. Enjoy the rest of summer break!

June 24, 2009 - Beautiful Lake Weather in Middle Tennessee

We have been having some wonderful weather here the last few weeks. I've really enjoyed going to the lake and soaking in a little sun and cooling off in the comfortable water. Center Hill, Dale Hollow, Cordell Hull, are just three of the great reasons to move to this area. And hey, if you live here and haven't had an opportunity to hop on a boat and go for a ride, rent one at your local marina and take a stroll. You'll soon fall in love. About ten years ago, that's all it took for me. I was soon after a boat owner. I can't imagine life without one. Get a boat - If you're single, you might just find a date. If you're just a couple, it creates beautiful quiet time together. If you've got a family, you'll make lifelong memories on the lake! My son is 2.5 and I can't get him out of the water. He swims all over the place. He's even surfed a little bit. My purpose in this blog, is to tell you that middle Tennessee/Cookeville/Silver Point and the other lake areas, offer much more than what meets the eye. You can make the amenities this area has to offer, a lifestyle, and the glue to the puzzle of happiness. I know I sure do.

May 30, 2009 - Cookeville Real Estate Market Improving

I am so happy to say that the Cookeville real estate market has significantly improved in the last couple of months. It's obvious I've been busy, as I haven't had time to update this web site much lately. The market has been so busy that if it were to be as good as it is now for a full year, it would be my best year ever. What does this mean for you, as a buyer or a seller, it means that it's possible that the market is about to turn around and price increases will soon follow. Before you second guess whether or not the bottom has hit and the turn to better times is coming, act now. This is not a time to sit back and wait and see what happens. I'm actually thinking about making a move myself while prices are low and buyers are looking. Call me today to see how we can best position you in the market today.