Dyersburg, TN

On June 29th, 2009 Carousel Realty and Security Bank teamed up and conducted a first time home buyer seminar. We had door prizes, food and refreshments.

Although we did not have a hugh turnout, the food was good and the different speakers were second to none. I introduced our different speakers beginning with Richard Boone from Security Bank. Richard briefly explained some of the mortgages that his bank has available but said the most popular right now is the Rural Development loan. It is the only loan product(except VA) that is 100% financing. This loan product is called Great Start/Great Rate. He also told us(we are experiencing this) that the waiting for underwriting approval is getting longer as this product is so popular. Rural housing just expanded the income qualifications for 1-4 people in household to $73,600 and households of 5-8 people to $97,150. These brackets now reach most of the middle to upper middle class. For those with good credit but do not meet the minimum criteria for income, there is a direct Rural Housing loan available and that is what our next speaker discussed.

Tyler Hayes is an area Specialist with the United States Department of Agriculture(Rural Development). His office is in Union City,Tennessee. Tyler comes to Dyersburg twice a month but can take your application by phone or mail. Tyler just replaced Mr. Taylor who I talked to often getting people hooked up with this loan program. Mr. Taylor was always very nice and pleasant and it appears that his replacement(Mr. Hayes) will also be great to work with. Tyler explained that there are three criteria for the direct loan from Rural Housing. These are as follows:

1. income limits for Dyer County(1 person $27,350 2 persons $31,250 3 persons $35,150 4 persons $39,050.

2. They want a credit score of about 640 but have some latitude on this

3. Do not currently own a home

Tyler Hayes can be reached by phone at 731-885-6480 ext 118

Tyler, if you are reading this, thanks for a great job explaining your loan product!

Our last speaker was Don Englehardt, a CPA with Joe M. Enoch and Associates,PLLC. we asked Don to talk to us about the new tax credit being offered by the IRS for first time home buyers. Much of the information he gave us was eye opening. Did you know if you own a house but have had it rented out for the last three years, you still qualify for the tax credit? Did you know, once you close on your purchase you can either amend your 2008 tax return and get that money from the IRS within a few short weeks or apply it to your 2009 taxes. Don passed out information from the IRS just about the tax credit being offered. Don can be reached at don@enochcpa.com or by phone at 731-286-6080. Don is very knowledgable and I personally appreciate him taking the time to come talk at our home buyers seminar. I have extra handouts from Don Englehardt that i would be happy to share with those who want to know more about the government tax credit for first time home buyers.

After Don, we wrapped up and had the drawing for door prizes. Since this was so successful, we plan to do this again in the fall.

Carousel Realty and Security Bank in Dyersburg,Tennessee have teamed up to offer a free "first time" home buyer seminar. This seminar will be held Monday June 29th, 2009 from 5-9pm at the Security Bank Newbern branch at 602 W. Main in Newbern,Tennessee.

We will offer refreshments, door prizes and valuable information including how the $8000 tax credit makes this an ideal time to buy a home.

A loan officer from Security Bank will be present to help explain how to get qualified to buy a house and the different loan programs that are available. We also plan to explain the qualifications to take advantage of the new tax credit and when that program is slated to expire. We also have someone from Rural Housing Development coming to talk about their loan product.

Realtors from Carousel Realty will be present to answer questions and assist those who plan to purchase a home within the next 6 months. Billy Turnbo, a local contractor will also be available to answer building questions.

Yesterday I had the opportunity to interview David Hayes who is the president of Security Bank in Dyersburg,Tennessee.

I sent David a list of questions some time ago and had the opportunity yesterday to sit down with him for lunch and a discussion about our local and national economy.

In my opinion, David is one of the brightest minds in West Tennessee and a great member of our community!

If you want to read the entire interview, please click into my Dyersburg Real Estate blog. David was pretty insightful with his take on the economy and what it will take to lead us out of the recession we are now in.

Actually no, but Scooby knows who to call when he needs a Realtor in Dyersburg,Tennessee.

Now more than ever people relocating to Dyersburg,Tennessee need a seasoned Realtor who knows the neighborhoods and the ins and outs of the market.

I always put my clients interests ahead of my own and promise unsurpassed service and

dedication to you as a client.

If you are relocating to the Dyersburg,Tennessee area you can begin the process by clicking on the Search Homes Button down below!

Over the last 24 months or so Dyersburg has experienced a housing slump which hit bottom about 2 months ago.

Activity has really increased in the last 2-3 weeks. We have had houses listed (that are priced right) that are starting to get offers and sometimes more than one at a time.

Almost all of my agents are busy showing properties and writing offers and many of these offers are legitimate offers that most of the time can be negotiated.

I will agree that there are some price ranges that are still slow ($150,000-$200,000) but for the most part I really believe the market is starting to revive in the Dyersburg,Tn market.

The reasons I believe our market is turned is:

1. interest rates at historic lows
2. The current tax incentive for homebuyers
3. People are not as scared of the economy
4. Industries here still doing pretty well
5. House prices at values 6-8% below last year's prices
6. Many people still relocating to Dyersburg for jobs
7. Houses in other areas starting to sell so relocating people can now purchase
8. Our local hospital expanding and bringing in many doctors, nurses and technicians
9. Dyersburg is a great place to live and work
10. Tennessee's tax structure is favorable(no state income tax)

I have been looking for the day to announce that the Dyersburg,Tn market has turned the corner! In the coming weeks I will provide some hard numbers to confirm my findings.