Christian Black's Blog

State of the Clarksville Tn Real Estate Market

Christian Black (Prudential Professionals Realty) — Sun, 24 Jan 2010 21:42:20 -0800

If you are thinking about buying a home for sale in Clarksville TN you are probably wondering how the market is, especially if you are not from Clarksville . I'm going to give you several good reasons to support my argument that now is the best time to buy a home in Clarksville TN. You may think I'm a little biased, but I'm going to give you simple facts about the real estate market in Clarksville TN rather than my personal opinions or feelings.

First of all the housing inventory currently stands at 1634 active homes on the market, down from a peak of 1911 in June. In December 2009 there were 260 single family homes sold in Clarksville TN. This leaves us with six months of inventory currently on the market, which is considered a balanced market (less than six months of inventory is a sellers market...more than six months inventory is a buyers market).

Clarksville Tennessee has enjoyed major growth and exciting news events over the past few years. Gateway Medical Center, our new state of the art 270 bed hospital is now open. We are seeing better quality of life with projects such as Rails to Trails and the new marina currently under construction and scheduled to open in 2010. Clarksville TN was recently selected as the new site for Dow Corning and Hemlock Semiconductors new polysilicon plant, an initial investment of 1.2 billion dollars which brings with it 500-900 high paying jobs to the Clarksville TN market. Clarksville TN real estate also gets a major boost from the local Ft. Campbell Army Base which boasts the third largest military population in the country.

The $8,000 first time home buyer tax credit has been extended and expanded. This is a true tax credit (not a deduction), money in your pocket...$8,000 to be exact. Current buyers must contract on a property by the end of April 2010 and close on it no later than the end of June 2010. First time home buyers are anyone that has not OWNED a home in the last 3 years. The expansion is a $6,500 tax credit for move up buyers that have lived in their primary residence for 5 of the last 8 years.

Interest rates for home mortgages are at historic lows. Rates have been at and below 5% for almost a year. These rates are almost guaranteed to go up at least 1-2% through 2010. To give you an idea of how this will affect someone who waits to buy a home take a look at these numbers.

$150,000 sales price (An average for homes in Clarksville TN )

For a 30-year mortgage at 5% your monthly payment would be $805.23 (Principal and Interest)
For a 30-year mortgage at 6% your monthly payment would be $899.33 (Principal and Interest), or a difference of $33,876 over the life of the loan.
For a 30-year mortgage at 7% your monthly payment would be $997.95 (Principal and Interest). Or a difference of $69,380.55 over the life of the loan.

These are some great reasons to encourage you to buy a home for sale in Clarksville Tn. The Clarksville TN real estate market is strong. You can start your search online at http://www.HomeClarksville.com

Dow Corning to build multi-billion dollar polysilicon plant in Clarksville TN

Christian Black (Prudential Professionals Realty) — Sat, 20 Dec 2008 15:40:42 -0800

Dow Corning made the official announcement in the fall of 2008 that it will immediately begin construction on a multi-billion dollar solar technology investment in northeastern Clarksville. The TVA megasite in Clarksville had recently been in the running for a VW plant earlier in the year. VW decided to build in Chattanooga, leaving the door open for Dow and Hemlock Semiconductor Corp. to move into the Clarksville area. HSC is the world's largest maker of polycrystalline silicone which is used in solar panels and semiconductor chips. Governor Phil Bredesen was on hand for the announcement and said this investment could be the largest ever in Tennessee history.

This is exciting news for residents of the Clarksville area who are eager to see some higher paying jobs for the area. The investment is expected to bring at least 500 high paying jobs to the area and up to 800 when expanded. Construction of the plant will employ about 1,000 workers over the next five to seven years. Total employment for the plant could reach as high as 4000 jobs.

Should you have any questions please feel free to contact me at (931) 801-8660 or cblack@realtracs.com. You may also visit my website at www.HomeClarksville.com to view all homes for sale in the Clarksville TN area (MLS).

$7,500 Tax Credit for Home Buyers

Christian Black (Prudential Professionals Realty) — Thu, 25 Sep 2008 14:36:00 -0700

The housing bill passed by Congress in late July 2008 is great news for home buyers. If you have not owned a home in the 3 years prior to purchase, the Housing Stimulus Bill (H.R. 3221) essentially gives you a $7,500 tax credit for any home, town home, or condominium purchase between April 9, 2008 and June 30, 2009.

The tax credit is basically an interest free loan from the government. If you are receiving money on tax day the $7,500 will be added to the amount you receive. If you owe money on tax day that money will be deducted from the $7,500 and you will receive the remainder.

The $7,500 credit is repayable at $500/year for 15 years. If your home is sold before the credit is paid back, the remaining money due is paid back at that time. If there is no profit or gain on the sale of the home then the remaining credit owed is forgiven.

The credit is limited to single or head of household taxpayers with an adjusted gross income of $75,000 or less, or married filing jointly with an adjusted gross income of $150,000 or less. A partial credit is available for taxpayers with adjusted gross incomes between $75,000 and $95,000 for single/head of household, and $150,000 and $170,000 for married couples.

For additional information you may find the following link helpful.

http://www.realtor.org/gapublic.nsf/files/hbtaxcreditqa2008.pdf/$FILE/hbtaxcreditqa2008.pdf

This is a great interest free loan that can save you thousands of dollars over 15 years.

Should you have any questions please feel free to contact me at (931) 801-8660 or cblack@realtracs.com. You may also visit my website at www.homeclarksville.com to view all homes for sale in the Clarksville TN area (MLS).

Shoud I Use a Buyer Agent?

Christian Black (Prudential Professionals Realty) — Wed, 03 Sep 2008 21:03:36 -0700

It seems that many buyers are hesitant to speak with an agent about buying a home. Often times I will get a phone call about a property and the buyer on the other end is usually very short with me and doesn't offer up too much information. I understand that people feel like the Realtor is trying to sell them something, but buyers should understand the value a buyer agent and how to choose an agent they can feel comfortable with.

First of all, as a buyer you do not pay for the services you receive from your buyer agent. The buyer agent's fee is negotiated with the seller by the listing broker the day they take the listing. The listing agent then puts the property on the MLS, usually offering a certain percentage to the agent who produces the buyer. This means you could work with your buyer agent for weeks or longer for free!

Secondly, why are you wasting your valuable time and $4/gallon gas? Some people prefer driving around neighborhoods to find a home rather than contacting an agent. They may find one or two homes that look good on the outside, only to realize after contacting the listing agent that the price is too high, or the layout isn't right. A buyer agent can take down the details of the home you desire such as price, location and size; plug them into their computer and produce a list of every property in the area that matches. The two of you can narrow down the list to 8 to 10 homes and you can see them all in a matter of 2 or 3 hours, without wasting a drop of your gas. Now you have plenty of time to finish up your things-to-do list.

What are you scared of? The Realtor on the other end of the phone is trying to help you. Realtors do this for a living and the right agent could be a major asset in your quest to buy the right home for the right price. You should go about choosing a buyer's agent the same way you would if you were choosing a Realtor to sell your home. Interview them. This can be done at their office if you have time, or on the phone by simply asking a few questions.

When the agent starts asking you questions about your wants and needs for a new home be honest with them and say "I haven't selected a buyer's agent yet but I am interviewing right now. Would you mind if I asked you a few questions?"

1. How long have you been a Realtor?

2. Are you a full-time Realtor?

3. How many buyers have you worked with this year?

4. How many homes are currently on the market in this area?

5. What is the current absorption rate (percentage of homes being sold every month)?

After you have spoken to a few different Realtors you should have a top agent that you can trust to help you through the process. The hardest part for you should be choosing the right home. Your Realtor should orchestrate your closing behind the scenes with little effort on your part. This includes getting the contract to the lender and closing company, ordering home warranties, setting up home inspections & surveys, offering contact information for utilities, handyman etc.

Lastly, take advantage of your agent's professional knowledge about the buying process. Make sure they educate you about the process before you begin. If you have any questions speak up. You and your agent are a team and you should communicate clearly. Which brings me to my final note make sure your agent is listening to what you are saying.

If you have any other real estate related questions for the Clarksville Area please give me a call at (931) 801-8660, email me at cblack@realtracs.com, or visit my website www.homeclarksville.comto search all homes on the MLS.

The Value of a Home Inspection

Christian Black (Prudential Professionals Realty) — Wed, 20 Aug 2008 14:52:37 -0700

Home inspections are rapidly becoming the norm for home buyers in the Clarksville area. Some of my clients don't think they need to get one because an appraiser will go out anyways and the appraiser should make comments as to the condition of the home on the appraisal.

It's true the appraiser will make some comments on the condition of the home. However, appraisers do not conduct a detailed evaluation of the home you are buying. They may not access hard to reach areas such as crawl spaces, attics and roofs.

A home inspector will spend 2-3 hours at the home checking it literally from top to bottom. They check all the systems of the home, drainage away from the home, and they even crawl around underneath the home and get dirty for you. A good home inspector will usually find repairs to the home equal to or more than the amount you spent on the home inspection itself. Even a home that is in "mint condition" will have repair items turn up on a home inspection.

A new construction home is no exception. Very often the builder is a contractor that hires out some, or all of the building to sub-contractors. It is very rare that any builder is on site 100% of the time, and even if they were it is easy to overlook something during the 3-6 months it takes to build a home.

A small detail like a leak under the home can be unknown to a seller or builder. Most sellers have never been under their home and can honestly tell you that as far as they know the home is in great shape. If you take their word for it, when you go to sell the home you may be paying a lot more for repairs than the $250 or so it would have cost you to get a home inspection in the first place.

Many builders don't like home inspections because some inspectors can get too picky. A home inspection can also benefit a builder in the long run saving thousands of dollars on warranty work, and keeping customers from having a bad experience. It's true; word of mouth is the best kind of advertising anyone can get.

Absorption Rate, Clarksville TN Homes

Christian Black (Prudential Professionals Realty) — Thu, 14 Aug 2008 12:41:24 -0700

Currently there are 1773 homes for sale in Clarksville TN. Through the last three months the average of homes sold each month is 262 homes. This means we are selling 15% of our inventory each month and we currently have 6.77 months on homes in our inventory. The definition of a buyers market is when the inventory of homes in an area is above 6 months. A sellers market is defined as an inventory of less than 6 months of homes.

Based on these numbers Clarksville is in a slight buyers market, and we are seeing sellers paying slightly more in concessions to the buyer. For the average home in Clarksville (prices between $135,000-$185,000) the average number of days on the market is 107 and sellers are getting 99% of list price.

As the Ft. Campbell troops begin returning for their deployment between October and January we will see the inventory come down and a return to a more even buyer/seller market. These changes could start to take place as early as late September as many military buyers will try to beat the flood of troops returning by buying online, and having a friend or family memeber preview the home for them.

Clarksville TN homes for sale, Ft. Campbell homes for Sale

Christian Black (Prudential Professionals Realty) — Mon, 03 Mar 2008 16:12:02 -0800

Hello,

My name is Christian Black. My wife (Masina) and I are Realtors with Prudential Professionals Realty in Clarksville TN. We specialize in military and relocation home buyers in the Clarksville and Ft. Campbell area. If you are moving to the area, thinking of retiring here in the future, or currently looking for homes for sale in Clarskville TN and the Ft. Campbell area I will be happy to help. Please contact me via email or phone if you would like assistance in any of the following areas:

Free relocation package mailed to you today
Updated home listings emailed to you daily
A market update for the Clarksville, Ft. Campbell area
Face to face buyer's orientation to explain the process of buying a home
Free list of local businesses that I recommend and you can trust including lenders, home inspectors, locksmith, termite company, fence companies, handyman etc.

Feel free to visit my website www.homeclarksville.comfor more information. I look forward to helping you with all of your home buying in the Clarksville TN and Ft. Campbell area in the future!

Very Respectfully,

Christian Black

REALTOR, ABR, GRI

Prudential Professionals Realty

office: (931) 503-8000

cell. phone: (931) 801-8660

email: cblack@realtracs.com