Murfreesboro, TN

This post may be a bit of a ramble so I apologize for this in advance.

I just had to get some things off my chest. The last time the real estate market melted down (think late 80's/early 90's) it took 7 years for homes to regain their losses. This meltdown is far worse because it is not just due to real estate over development/over building. It was caused by debt. Plain and simple. That is why the folks in Washington cannot fix this problem - you cannot fix a problem caused by debt with more debt. It defies logic and reason. The facts are that even at their current reduced levels, home prices are still out of line with incomes when compared to historical trends. Therefore, contrary to NAR homes are not actually affordable (Side note: I really cannot stand the NAR Home Affordability Index. Since when did Realtors become used car salespeople hawking homes by pushing the monthly payment instead of the price of the home?). The reason loan modifications will not work is that they do not address the core problem: mortgage balances are too high relative to the market value of the homes. Many homeowners are actually now underwater (i.e. mortgage balances exceed the value of their home). According to a recent Deutsche Bank report, by 2011 about 48% of all US mortgages will be underwater. Since being underwater is now the #1 statistical driver of defaults (not credit scores) you can bet on high foreclosure rates for years to come. Since the entire economy was built on consumer spending, and that consumer spending was fueled by debt, and that debt is no longer available you can be sure that when things do actually turn around unemployment will still remain relatively high with a likely range of 6-8% as opposed to the 4-5% range we enjoyed a few years ago. Based on the persistent debt problem and the long term unemployment problem I just do not see how the real estate market will recover anytime soon.

This whole thing is sadly comical. You have nonsense from NAR and the mainstream media about how the real estate market is turning a corner and recovering yet foreclosures and unemployment keep increasing. The US real estate market has never recovered under such circumstances and this time will not be the exception. Almost every day I fell like screaming "STOP THE NONSENSE." If our policy makers would just let housing prices decline to their normal (historical) sustainable levels and get rid of the FHA loans, other low/no down loans, ARM loans and other artificial financing not only would this type of problem never happen again, but the social engineers in Washington would not have to worry about "affordable housing" since housing would in fact ALREADY BE AFFORDABLE. Sometimes the answer is just plain old common sense.

I predict that values will continue to fall rapidly through 2011 (when the large wave of Option ARM foreclosures ends) and then continue to decline gradually until the foreclosure rate reduces to normal levels and the unemployment rate reduces back down to a more realistic 6-8% mentioned above. At that point real estate values will recover at the normal 4-7% per year.

LOAN OFFICER IN MURFREESBORO, TN

My name is Amy Wood, I am a LOAN OFFICER IN MURFREESBORO, TN. I work for Guaranty Trust Mortgage company. We are one of Tennessee's most comprehensive, locally owned and operated full service mortgage companies. Guaranty Trust has been a market lender in the Middle Tennessee area for over 20 years. With knowledgeable loan officers that work closely with customers and real estate agents to identify and select the best mortgage opprotunities. We are known for our dedicated and progressive way that we work within our clients budget to secure home loan financing.

Guaranty Trust offers in house processing, underwriting and closing which makes for a smooth transaction for all parites involved. If you are looking for a LOAN OFFICER IN MURFREESBORO, TN I am the one for you!

You can check my out at http://activerain.com/amysloans or you can call me at 615.907.2611.

Amy Wood

Mortgage Loan Officer

Office: 615.907.2611

Cell: 615.796.9589

Email: amy.wood@guarantytrust.com

LOAN OFFICER IN MURFREESBORO, TN

Wow!! Over 12 HUD Homes and Foreclosures hit the Murfreesboro and Smyrna market this week already. The prices are ranging from $85,000 to $148,000. Please keep in mind that the HUD Homes have the $100 down payment option. Which means FHA requires a minimum down payment of 3.5% and if you the Owner Occupied Buyer on the HUD home you can put down as little as $100.00 as a down payment. Some HUD homes a close to move in ready, maybe paint and or carpet. You can also get a 203k loan (if home qualifies) to have money to make repairs. Contact your lender of your choice to explain or call me (615) 522-1287 for a Lender if needed. Click on link below to view homes. You may search the MLS on your own at www.johnehlers.com Contact me (615) 522-1287 or angent of your choice to view any HUD Home

Click on link below to view homes

http://listings.realtracs.com/BuyerFull.aspx?EmailID=29083362

Attention Property Owners and Homeowners in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN and Belle Meade TN) - Get Expert Assistance from a Middle Tennessee Distressed Real Estate, Short Sale, Pre-foreclosure and Foreclosure REALTOR, Real Estate Expert & Real Estate Professional

• Can't afford your mortgage payments?
• Received a Notice of Default (Foreclosure Letter) from your lender, or their attorney?
• Home worth less than your current mortgage balance(s)?

If one or more of the above situations apply to you then you need to get help from a Short Sale, Pre-foreclosure and Foreclosure REALTOR & Real Estate Professional who can help you avoid Foreclosure, sell your home via a Short Sale, or even get a Loan Modification.

A Loan Modification may help you keep your home and should be considered.  However, many lenders seem unwilling to grant modifications.  If you cannot get a loan modification, or your home is worth less than the mortgage balance(s), or you just can't afford to keep your home then a Short Sale may be your best option as it could salvage what is left of your credit and to reduce the risk of the lender pursuing you for their net loss (deficiency judgment).  Acting quickly will give you the greatest chance of getting your life back without all the stress and worry.  For immediate help please contact Jim McCormack now!*

Jim McCormack's Foreclosure and Short Sale Assistance Hotline

(615) 653-4383

*Jim McCormack is a REALTOR, not an attorney.  You should consult an attorney before making any real estate decisions.

For more information, please visit my real estate website, JimTheRealEstateExpert.com, which is focused on helping property owners who are in foreclosure, or who need expert assistance with a short sale (i.e. where the property value is worth less than the mortgage debt). My website is designed to inform short sale and pre-foreclosure sellers and consumers on how to best solve their real estate problems in the quickest time possible. The articles and tools throughout the website are FREE, with zero strings attached.

If you would like more information first, please let me introduce myself.  My name is James W. McCormack. I am a Short Sale, Pre-foreclosure and Foreclosure REALTOR and Real Estate Expert. I am a 10+ year real estate sales veteran and full-time real estate professional who specializes in helping people solve their real estate problems. I focus on short sales, pre-foreclosures, foreclosures and investment properties in the Middle Tennessee TN market with my primary focus being on Murfreesboro, Smyrna, La Vergne and Eagleville in Rutherford County, Brentwood and Franklin in Williamson County and Nashville and Belle Meade in Davidson County. My website helps you to search for and find short sale listings, pre-foreclosure listings and foreclosure listings in Murfreesboro TN, Smyrna TN, La Vergne TN, Brentwood TN, Franklin TN, Belle Meade TN and Nashville TN.

I am a real estate expert who is here to help you. Please call me at 615-653-4383 to discuss your real estate situation or problems. I almost always return phone calls by the next business day.

I provide the following real estate services:

Specialty and Challenging Real Estate (Sales, Consulting & Leasing):
1. Physically Distressed Properties (i.e. fixer uppers, rehab properties, handyman specials, etc.).
2. Foreclosures.
3. Pre-foreclosures (i.e. Notice of Default, etc.).
4. Short Sales (i.e. where the sale price is not enough to pay off the mortgage(s) and other liens.).
5. Bank Owned Real Estate (i.e. REO's).
6. Divorce Sales.
7. Estate Sales.
8. Abandoned and Vacant Properties.
9. Rental Homes and Properties (Leasing and Consulting).
10. Lease Option/Lease Purchase Homes (Sales, Leasing & Consulting).
11. Other Difficult Situations.

Commercial and Investment Real Estate (Sales & Leasing):
1. Small Multifamily Properties (2-4 units).
2. Apartment Buildings (5+ units).

Search Middle Tennessee MLS Listings
 

First Time Home Buyers in Tennessee

THDA offers affordable mortgages and down payment assistance to First Time Home Buyers in Tennessee through local lenders such as Guaranty Trust. A first-time home buyer is considered anyone who has not owned their principal residence int he last three years, anyone buying in special targeted areas, or an honorably discharged or re-enlisted veteran and spouse. A brief overview of the three mortgage programs availabe are listed below. Rates are subject to change.

Great Rate:

• 5.2%
• FHA, VA, Rural Development and conventional
• Homebuyer education not required

Great Advantage:

• 5.5%
• 2% down payment and closing cost assistance
• FHA, VA, Rural Development, AND Conventional
• Homebuyer education is required

Great Start

• 5.8%
• 4% down payment and closing cost assistance
• FHA, VA, Rural Development and conventional
• Homebuyer Education is required

You can check out the THDA website for further information www.thda.org or you may contact me:

Amy Wood

Mortgage Loan Officer

Office: 615.907.2611

Cell: 615.796.9589

Email: amy.wood@guarantytrust.com

website: www.guarantytrust.com

First Time Home Buyers in Tennessee