Can you believe that we are in the 2nd half of July already? Time is speeding by! I love August and it rolls into Middle Tennessee with average highs of 88F and lows of 68F. Children are enjoying the last few weeks of their summer vacation. Miss Martha’s Old Fashioned Ice Cream Crankin is held the first Sunday of August at the First Presbyterian Church of Nashville and features some of the best homemade ice cream to be found anywhere. (I love ice cream, don't you?) The St. Lawrence Annual Barbeque Picnic also occurs the first week in August and cooks up over 5,000 pounds of barbeque each year. The Bell Witch Bluegrass Festival is held the second weekend of August, as music gathers listen to great bluegrass music at the Old Bell School in Adams, Tennessee. The East Nashville's Annual Tomato Art Fest is also held the 2nd week of August and offers a completely unique way to experience tomatoes. August is a wonderful time to enjoy the Nashville Shakespeare Festival, where free Shakespeare plays are enacted in historic Centennial Park. Or if you love jazz, consider indulging your senses with a picnic on the lawn at the Belle Meade Plantation Carriage House, while listening to a concert from the Tennessee Jazz and Blues Society, one evening in August (or July). There is also the World’s Longest Yard Sale, running down Highway 27 through three states (Tennessee, Kentucky and Alabama) with 500 miles worth of bargains. August ends with the Tennessee Walking Horse National Celebration which lasts for 11 days leading up to Labor Day. Middle Tennessee is such a great place to work and live. With mortgage rates still at historic lows, the window of opportunity is wide open! Don’t miss the first time homebuyer $8,000 tax credit which expires November 30. Call me at 615-533-9377 or visit www.MarilynTheRealtor.com.

Demystifying the $8000 Tax Credit

President Obama’s $8000 tax credit for first-time home buyers is an unprecedented and much-appreciated gift. Never before has the U.S. government helped make it so easy to buy your first home! When you hear tax credit, you may think tax refund, or you may not have any idea what a tax credit is or how it could possibly benefit you. Tax credits are different than tax refunds, although the two can go hand-in-hand. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $8,000 in income taxes and who receives an $8,000 tax credit would owe nothing to the IRS. Buying a new home in 2009 could eliminate or significantly reduce your 2009 income taxes. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, whichever is less - on their 2008 or 2009 taxes. A "first-time home buyer" is legally defined as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law uses the homeownership history of both the home buyer and his/her spouse. To qualify for the $8000 tax credit, a home purchase must occur on or after January 1, 2009 and before November 30, 2009. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of withholding they paid during the year plus anything extra they had to pay when they filed their returns - was less than that amount. If you don’t want to use the $8000 credit against your taxes, why not use it towards your down payment or closing costs? The $8000 tax credit can be used as a down payment; however you have to pay the initial 3.5% down payment on your own. In other words, the $8000 tax credit cannot be used for the first 3.5% of the down payment, but it could be used for a down payment over and above the 3.5% you have already put down. If you don’t want to use the $8000 credit towards your down payment, what about using it towards closing costs? The credit can be used for closing costs that are normally associated with buying a home. Title fees, lender fees and inspection fees are all normal closing costs that the $8000 tax credit would cover. Even constructing a home on a lot that you already own qualifies for the tax credit because a principal residence that is constructed by the home owner is treated by the tax code as having been "purchased" on the date the owner first occupies the house. Lowering or eliminating your income taxes, paying the down payment or closing costs on your home or finally putting an empty lot to use – the choices that the $8000 tax credit gives you are exciting. Marilyn the Realtor would be happy to help you figure out how best to utilize your $8000 tax credit after finding you the home of your dreams (at prices that won’t give you nightmares).

North Korea, the Economy and Marilyn the Realtor North Korea is again making trouble in the world, rattling its sabre and generally causing irritation in that region of the world. It seems that this is likely to continue for some time. However, there is plenty of good news in this part of the world. Middle Tennessee, due to its diversification of industry, has weathered the recession better than many other parts of the US. While we were not immune to declining home prices and rising unemployment rates, we fortunately did not experience catastrophic economic conditions experienced by others. This continues to lay a strong foundation for buying or selling homes and land in Middle Tennessee. Mortgage rates continue to amaze all onlookers with persistent historic lows. Home and land prices are beginning to find their legs again. Savvy real estate investing has never been a smarter move for those wanting to diversify their portfolio. So, while North Korea may be trying to makes its little corner of the world jittery, intelligent real estate buying and selling in Middle Tennessee has never been safer.

I have been reflecting on what a genuinely super place Middle Tennessee is in the summer. With an average July high of 88 F and low of 68 F, Middle Tennessee’s midsummer nights are breezy and the mornings are refreshing and crisp. July starts off with The Smithville Fiddlers’ Jamboree, which brings in over 100,000 visitors to one of the top rated Bluegrass, Folk and Appalachian Music Competitions in the States. Next comes the Nashville Fourth of July celebration at Riverfront Park, an annual Nashville Tradition where many Middle Tennesseans gather on the banks of the Cumberland River to watch fireworks with their families. The Uncle Dave Macon Days Festival, beginning the Thursday after the 4th of July, honors the memory of Uncle Dave Macon, one of the Grand Ole Opry’s first superstars. Bobby Macon, Uncle Dave's Grandson was a friend and neighbor.  On the second Saturday of July the Scarritt-Bennett Center holds the Celebration of Cultures, which includes an international market, dancing and entertainment for the entire family. The Chet Atkins Appreciation Society, one of the largest guitar-related fan clubs in the world, also holds its annual convention the second week of July. The Belle Meade Plantation holds Sunday evening “Concerts on the Lawn” where jazz and blues concerts are appreciated in a historic setting. Glad that I am a Realtor who can help folks buy and sell in magical Middle Tennessee.

The study of economics on a national and international level is called macroeconomics. 

Macroeconomics has been in the news quite a bit lately with the news of the ever-weakening dollar and decreasing mortgage rates.  How are these two related and more importantly, how does it affect you?

Picture the world as a series of banks where each nation is a bank.  The nation's discount rate is the interest rate you get if you put your money into that nation, or bank, following our example.  Normally, money flows into the banks that have the highest interest rates.  Money leaves the banks that have the lowest interest rates.

The US has low interest rates compared to the rest of the world. Therefore money does not flow to the US.  That results in a weak dollar.

If the Federal Reserve raised the discount rate by 3 points tomorrow (for illustration), mortgage rates would rise almost immediately.  But money would flow into the US at a higher pace also.  Remember our example of money flowing to the nations (banks) that have the highest interest rates?  This would also reverse the weakening of the dollar.

You see, it is all a trade-off, in macroeconomics.  Low mortgage rates, a weaker dollar.  High mortgage rates, a stronger dollar.

It is a great time to take advantage of the low interest rates which have afforded us historically low mortgage rates.  This works in behalf of you, the real estate investor.  Houses are very affordable for both the first-time buyer as well as the move-up buyer.  All due to macroeconomics.

Take advantage of this favorable position by contacting me today.

Also, for my free report, "How to Buy and Sell Real Estate in 2008", please email me at Marilyn@MarilynTheRealtor.com.

Welcome Verizon Wireless!!   August 22, 2007 Verizon Wireless announced it is moving its regional headquarters to Cool Springs.

Ideally located just South of Brentwood and on the North Side of Franklin, Cool Springs pulses with rapid growth.  Development began in the 1980's.   Cool Springs is Williamson County's primary business district.  It is anchored by Cool Springs Galleria, a 1.3 million square foot shopping mall which includes over 235 restaurants, theatres and stores spread over 27 acres.  Cool Springs actually accounts for over 50% of the county's entire available office space. 

Nissan North America made relocation headlines in 2005 when they announced they were moving their headquarters from Southern California to Cool Springs.  "The Japanese automaker is constructing a $70 million‚ 450‚000-square-foot office building at the new McEwen interchange at I-65."

Guardian Home Health, a company that provides a variety of in-home health-care and hospice services‚ with 9000 employees and 14,000 clients announced in October 2006 it was moving its headquarters to Brentwood.

Delek US Holdings Inc which owns about 400 Mapco Express Markets moved to a 54,000 Square foot building in Cool Springs off Moores Lane.

Actually located on the Brentwood Franklin line, the bustling area is simply called Cool Springs. Because of the high standard of living, Brentwood Cool Springs is considered one of the most desirable suburban locations in Tennessee.  The area has enjoyed unprecedented real estate growth, which has spread all over Williamson County.  The average Williamson County home stayed on the market 67 days in July 2007 and its price actually rose from the same month a year earlier.  While the rest of the country has experienced sharp price decreases, Williamson County's average property price actually grew moderately.

Here's a few facts which may be of interest.  The median house value in Brentwood for 2006 was $350,000.   15 colleges and universities are within half an hour of Brentwood Cool Springs.    Bike and pedestrian links are constructed throughout the city and connect parks, schools and neighborhoods. 

Brentwood residents love the gorgeous countryside, with great schools, lovely homes, amazing convenience, pro sports nearby and efficient government in a pastoral setting where you may even see cows.  The area offers great opportunity with an affordable cost of living.  No wonder Metro Nashville, Tennessee is a premiere spot for corporate relocations.

This is a tale of three fully executed contracts with three home inspections before getting a contract closed.

A home purchaser relocating here from South Carolina found a home she loved.  After the home inspection, repair bid proposal and agreed repairs, the purchaser was excited and ready to close.  However, suddenly, the seller decided she did not want to move.  The seller breached contract.  With advice from her title company coupled with her buyer agent's exhaustive efforts, the purchaser asked for damages and was awarded restoration from the seller for her expenses and her inconvenience.

With release of contract, some cash in hand, the purchaser courageously contracts a second home in a multi-offer situation.  From the home inspection, the purchaser finds there is significant structural damage.  She requests the seller make structural corrections.  The seller refuses to make repairs; plus informs the purchaser he would like to sell the home in "as is condition."  This time the purchaser asks to be released from contract with full return of earnest money. 

With earnest money in hand, the purchaser contracts a third home.  Amazingly, buyer and seller reach agreement on repairs and the purchaser closes during the last week of the year, in compliance with her employer relocation package, in which the purchaser agreed to close in 2006. 

Although it was an agonizing roller coaster of excitement, disappointment, excitement, disappointment, excitement the purchaser called her buyer's agent apologetic and grateful.  The purchaser said that the long ride had proved to be well worth it "I couldn't be happier with my home.  You may think I am the worst client ever, but I thank you for everything.  I love my home.   It was worth it."

Certainly, the agent earned her commission three times.  The agent was paid her commission, of course, only one time.  Monetarily, the agent did not come out ahead, based on the amount of time required to complete the transaction, but the agent is delighted and gratified to have a lifetime client who will refer her in the future.  A buyer's professed satisfaction enhances an agent's internal wealth.

Email me at Marilyn@MarilynTheRealtor.com or Call 888-922-8317 Toll Free, or visit http://www.bestagenttn.com/ BuyersTab or http://www.marilyntherealtor.com/RealEstateTips/HomeBuying/default.html for More Information on Buying a Home.

The Greater Nashville Association of REALTORS reports, 40,056 homes were closed in 2006, representing a 3 percent increase from the 38,874 closings reported for 2005.

"There were 3,109 closings during the month of December.  This is a 7.5 percent decrease from the 3,362 closings reported for the same period in 2005, but it is the second highest number of homes ever sold in the month of December.

Fourth quarter closings are 9,307 for Greater Nashville.  That total is down 2.6 percent from the 9,563 closings during the fourth quarter of 2005, but still the second-best fourth quarter on record.

There were 2,474 sales pending at the end of December, compared with 2,623 pending sales at this time last year.  The average number of days on the market for a single-family home was 65 days.

The median residential price for a single-family home during December was $184,562, and for a condominium it was $173,840.  This compares with last year's median residential and condominium prices of $174,900 and $168,275, respectively.

Inventory at the end of December was 15,815, up from 12,763 in December 2005."

 Real Estate sales in Nashville have remained very strong.  With some slow down in other parts of the country, homes are staying on the market a little longer but they are selling.  It is therefore a good time to buy and sell real estate in Metro Nashville.  For more information about property sales in Nashville or surrounding counties call toll free 888-922-8317 or email me http://mailto:Marilyn@MarilynTheRealtor.com.

 Relocating to Music City, Metro Nashville?

Welcome to Music City, home of the Grand Ole Opry, Titans Football, Predators Hockey, Frist Art Museum and Schemmerhorn Symphony Hall.  Nashville offers affordable living in a seasonal climate.  Centrally located with I-40, I-65, I-24, & I-840 fantastic interstate connectivity, Nashville also has an international airport for global connections.  Nashville has scattered lakes for outdoor fun.  To the East of Nashville, Lebanon is headquarters to Hartmann Luggage and Cracker Barrel Restaurants.  To the South, Franklin is Headquarters to Nissan, settling into the Cool Springs area and to Mars Pet Food.  Rutherford County, Wilson and Williamson are our fastest growing counties.  Our area has more colleges and universities per capita than almost any place in the world.

In addition to the Music scene, we are headquarters for Hospital Corporation of American and we are also publishing hub.

Search over 12,000 Greater Nashville Area Realtor listings at?

                                                                http://www.marilyntherealtor.com/

Email Marilyn@MarilynTheRealtor.com for more information and a complimentary relocation package.

The Marilyn Group will walk with you through the entire process:

• Need Mortgage Assistance, Click Resources-Java Calculators at BestAgentTN.com
• Need real estate glossary
• eMail updates of Greater Nashville Middle Tennessee homes for sale
• Area Orientation Tours
• Constant Communication
• Buyer Representation
• Expert Contract Negotiations
• Information source
• Closing Advice
• Utility Transfer information
• Your one source for your total transaction

Call toll free 888-922-8317 or Email Marilyn@MarilynTheRealtor.com for a FREE Metro Nashville Area Relocation kit including map and more.