The 2009 National Association of REALTORS Profile of Home Buyers and Sellers Highlights
Characteristics of Home Buyers
- Forty-seven percent of recent home buyers were first-time buyers.
- The typical first-time home buyer was 30 years old, while the typical repeat buyer was 48 years old.
- The 2008 median household income of buyers was $73,100. The median income was $61,600 among first-time buyers and $88,100 among repeat buyers.
- Twenty-one percent of recent home buyers were single females, and 10 percent were single males.
- For one-third of recent home buyers, the primary reason for the recent home purchase was a desire to own a home. Characteristics of Homes Purchased
- New home purchases were at the lowest level in eight years—down to 18 percent of all recent home purchases. - The typical home purchased was 1,800 square feet in size and was built in 1991. - Seventy-eight percent of home buyers purchased a detached single- family home.
- The median price of home purchased was $210,000 in the Northeast, $158,000 in the Midwest, $175,000 in the South, and $240,000 in the West. - When considering the purchase of a home, commuting costs were considered very or somewhat important by 78 percent of buyers. the home searCh ProCess
- For more than one-third of home buyers, the first step in the home-buying process was looking online for properties.
- Nine in ten home buyers and 94 used the Internet to search for homes.
- Real estate agents were viewed as a very useful information source by 81 percent of buyers who used an agent while searching for a home.
- The typical home buyer searched for 12 weeks and viewed 12 homes.
Home Buying and Real Estate Professionals - Seventy-seven percent of buyers purchased their home through a real estate agent or broker. - Ten percent of buyers purchased a home in foreclosure, up from 3 percent in 2008. - Forty-four percent of buyers found their agent through a referral from a friend or family member.
Clarksville Leads the Nation in Economic Stability - Erika Kurre Local Fox News
As cities across the country struggle to keep their budgets in the black, one middle Tennessee city is among the fastest-growing in the nation! Clarksville is not only expanding, it's recovering from the recession quicker than others.
Clarksville-Montgomery County planning director David Riggins says, "We're not at all surprised we've been ahead of the curve." While most cities are in the red, Clarksville has a green light for growth. Riggins says, "Where other places have become stagnant or actually gone backwards in the economy, we've at least held our own and in some cases advanced." Riggins is talking about his hometown where real estate values are on the rise, as the ninth fastest growing city in the nation.
A Moody's report rated Clarksville as one of just 23 cities in the country, where the recession is turning around. Mayor John Piper believes there are several reasons and attracting business is key. Piper says, "We have an education system-- both through our school system and APSU, which has been a great partner with hemlock. We have a workforce at ft. Campbell which turns out highly qualified people that are willing and capable of working. And with the southern hospitality, it's just a great combination."
Among the most recent additions to the economy-- a 77,000 square foot nursing and rehabilitation center. TN Health Management COO Mark Davis says, "We operate 31 other facilities here in Tennessee but this is the largest investment we've made so far." Health Management chose Clarksville to grow and expand-- putting dozens of Tennesseans to work as early as next week. Davis says, "There's gonna be a few new jobs. I'm gonna say about 30-40 new jobs will be created." This 14-million dollar investment is just one of several developing in Clarksville now. The biggest among them-- Hemlock Semiconductor Group now in it's construction phase. City officials say their hard work is paying off. Piper says, "Its just continuing to do the things that seem to be working." Mayor piper also credits Ft. Campbell for the city's stability. Clarksville has reorganized it's debt and is also building a 30-million dollar marina, along with new trails and pedestrian ways.
Household finance is more about everyday money management and a lot less 'sexy' than some other types of high-flying financial advice available. It is because that much of it is common sense - things that we already know (but fail to put into practise!) - that it isn't headline material. But the truth is, poor household financial management can be at the core of a family's financial problems. I know from personal experience, It's hard to sit down and create a budget and to stick to it! It's hard not to pull out that debit card when you see something that you just "have to have."
Because people generally stay with the same employer over time, and their wages remain constant, it is possible to prepare a budget that is manageable. Most household finance expenses do not fluctuate very much from month to month. Of course, from time to time, we might need new tyres on the car or a new washing machine - by these larger expenses can be averaged over a 3-5 year period and be included in your budget.
With Realtors and other Independent Contractors it's quite different, you may receive a check for $2,000.00, but may not know when your next income check will come. That can be very frightening and cause a great deal of stress in your life. A budget will help to alleviate some of this stress.
The trouble is that most families just can't be bothered, or are afraid to, honestly analyse their income and expenditure. This can often result in, with the help of credit cards, more money going out than coming in. When this is the case, the ability to repay the debt diminishes and the household finance budget spirals out of control.
Importance Of A Budget for You and Your Family
When your household budget revolves around a family, it is even more important. Preparing it will take time - but consider it an investment in your future financial security. Because your decisions will impact your family's future, it is even more important to get it right. The larger the family, the more important it becomes to have funds on standby for emergencies. Without a good financial plan, living payday to payday will become a risky way of life.
Smart money management is much more than merely making sound spending decisions. It involves of course, planning a budget, limiting or cutting expenses, and, very importantly, putting a specific amount away each month to a dedicated savings plan.
Be mindful that simple errors on the part of a sales assistant or your bank can impact on your budget. Examine every transaction and receipt carefully.
Having your wages paid directly into your bank account, and withdrawing funds as they are needed (subject to bank charges for small withdrawals), and having a nominated amount moved to a untouchable savings account, is a good start.
Once you begin spending to your budget, you will be amazed at the things you would have previously opened your wallet for. Do you need to buy a newspaper everyday (read online!), or that cappuccino on the way to work (would 'instant' at work really affect your lifestyle??), and instead of fast food for lunch, why not take some leftovers from home? Small, steady changes in your spending habits will have a huge impact on your household financial budget - and there is no time like the present to start!
It is with much excitement that I write this Blog for you today! Better Homes and Gardens Real Estate has just opened a new office in Clarksville, TN and I get to be a part of that. I have not changed companies, but my company has affiliated with one of the best Real Estate Companies in the United States. For over 25 years, The Vaughn Team has focused on serving the needs of homebuyers and sellers in the Clarksville, Montgomery County, and Fort Campbell area. Our commitment to customer service and satisfaction in every area of the real estate transaction has enabled the company to flourish.
In today's fast moving world of real estate, it is crucial to be aware of every opportunity to better serve our clients and customers, and we are very proud of our progress and accomplishments. We must now take the next opportunity to enhance our customer experience, so it is with great pleasure that we announce our affiliation with Better Homes and Gardens Real Estate®. Our Company's new name is Better Homes and Gardens Real Estate Hometown Connection. You can still reach me on the same phone numbers and email address.
Joining forces with Better Homes and Gardens Real Estate, one of the most recognizable consumer brands that share a true passion for the home, will enable us to market your property with the same high quality sales associates that you have come to know and trust. Better Homes and Gardens Real Estate Hometown Connection will be one of the strongest real estate companies in the area, with a continued respect for tradition and with an eye on innovation.
If you want to learn more about how Better Homes and Gardens Hometown Connection can make a difference in your Real Estate needs, contact me and I'll set aside some time for us to talk or get together.
Janie Masterson 931 801-3348 Posted by Janie Masterson,
How should the ceiling fan rotate during summer and winter? Is your ceiling fan on the proper setting? It could save you energy dollars if it rotates correctly.
Ceiling fans provide great air circulation and you can optimize these benefits by ensuring the rotation of the blades is correct for circulating warm air or a cooling breeze.
During the winter when you are using your heat, to help circulate warm air that is trapped on the ceiling, blades should turn ‘forward' in a clockwise motion. This movement will push up the air and pull the warm trapped air down the sides of the room improving heat distribution.
During hot summer weather when you are running the air, to help produce a comfortable breeze that cools the skin, blades should rotate in a ‘reverse' counter-clockwise motion. The air movement has the same comfortable effect as when you fan yourself with a magazine to get relief from hot, stifling air.
Ceiling fans in themselves do not heat or cool a room, but the air movement or circulation they effect by the correct blade rotation, can greatly improve the comfort of your living space. You can also save in energy costs when the ceiling fan is on the correct setting to support your cooling or heating efforts.
According to the latest reports from CNNMoney, Clarksville, TN is the number 4th best city to start a new business.
With a population of 261,220 and 4,126 small businesses, Clarksville is a great place to work and to raise a family. Market values for Clarksville, TN for homes has increased steadily 6+ % over the last two years.
"A few decades ago, Clarksville could have still been classified as a small town: it's grown out of the agricultural and tobacco trade, and the presence of nearby Fort Campbell meant that when soldiers were deployed to conflicts, they and their families emptied out of the city. But over the years, the city has nurtured its own hub of commerce, helped along by the presence of Austin Peay State University and spillover growth from Nashville, located 50 miles away. Military personnel now look to settle in Clarksville and develop their own businesses when they retire.
In December, Hemlock Semiconductor announced an initial investment of $1.2 billion to build in Clarksville a new manufacturing facility for the production of a key raw material for solar cells and semiconductor devices. The site is expected to employ up to 800 people, as well as 1,000 construction workers over the next several years, and local business leaders say it will provide an opportunity for the small business community to service the growing green energy sector. The city's so buzzy right now, in fact, that what publishers say is Clarksville's first business magazine began printing in September." -Tina Peng
Clarksville Leads the Nation in Economic Stability - Erika Kurre Local Fox News
As cities across the country struggle to keep their budgets in the black, one middle Tennessee city is among the fastest-growing in the nation! Clarksville is not only expanding, it's recovering from the recession quicker than others.
Clarksville-Montgomery County planning director David Riggins says, "We're not at all surprised we've been ahead of the curve." While most cities are in the red, Clarksville has a green light for growth. Riggins says, "Where other places have become stagnant or actually gone backwards in the economy, we've at least held our own and in some cases advanced." Riggins is talking about his hometown where real estate values are on the rise, as the ninth fastest growing city in the nation.
A Moody's report rated Clarksville as one of just 23 cities in the country, where the recession is turning around. Mayor John Piper believes there are several reasons and attracting business is key. Piper says, "We have an education system-- both through our school system and APSU, which has been a great partner with hemlock. We have a workforce at ft. Campbell which turns out highly qualified people that are willing and capable of working. And with the southern hospitality, it's just a great combination."
Among the most recent additions to the economy-- a 77,000 square foot nursing and rehabilitation center. TN Health Management COO Mark Davis says, "We operate 31 other facilities here in Tennessee but this is the largest investment we've made so far." Health Management chose Clarksville to grow and expand-- putting dozens of Tennesseans to work as early as next week. Davis says, "There's gonna be a few new jobs. I'm gonna say about 30-40 new jobs will be created." This 14-million dollar investment is just one of several developing in Clarksville now. The biggest among them-- Hemlock Semiconductor Group now in it's construction phase. City officials say their hard work is paying off. Piper says, "Its just continuing to do the things that seem to be working." Mayor piper also credits Ft. Campbell for the city's stability. Clarksville has reorganized it's debt and is also building a 30-million dollar marina, along with new trails and pedestrian ways.
How do you know if your air conditioner is broken. Charlotte home inspector Preston Sandlin's kids show you what home inspectors look for when they inspect the air conditioning on a house. Home inspectors are looking for a 15-20 degree differential from the return to the registers. If you differential is too low your fan speed could be too high or you could be low on Freon. If your differential is too high you fan speed could be too low or your filter could be dirty. Either way if your differential is too high or too low you will want to call a lisenced HVAC contractor. If you have any other air conditioning or home inspection questions please visit Preston at his website http://www.charlottenchomeinspector.com
How long you plan to live in the home. If you purchase a home and get a job transfer or decide to move after only a short time, you may end up paying money in order to sell it. The value of your home may not have appreciated enough to cover the costs that you paid to buy the home and the costs that it would take you to sell your home. The length of time that it will take to cover those costs depends on various economic factors in the area of the home. Most parts of the country have an average of 5% appreciation per year. In this case, you should plan to stay in your home at least 3-4 years to cover buying and selling costs. If the area you buy your home in experiences an economic up turn, the length of the time to cover these costs could be shortened, and the opposite is also true.
How long the home will meet your needs. What features do you require in a home to satisfy your lifestyle now? Five years from now? Depending on how long you plan to stay in your home, you'll need to ensure that the home has the amenities that you'll need. For example, a two-bedroom dwelling may be perfect for a young couple with no children. However, if they start a family, they could quickly outgrow the space. Therefore, they should consider a home with room to grow. Could the basement be turned into a den and extra bedrooms? Could the attic be turned into a master suite? Having an idea of what you'll need will help you find a home that will satisfy you for years to come.
Your financial health - your credit and home affordability. Is now the right time financially for you to buy a home? Would you rate your financial picture as healthy? Is your credit good? While you can always find a lender to lend you money, solid lenders are more skeptical if your credit history is not good. Generally, a couple of blemishes on a credit report will make you a good credit risk and could qualify you for the lowest interest rates. If you have more than a couple of blemishes on your report, lenders like Quicken Loans may still provide you with a loan, but you may just have to pay a higher interest rate and fees.
Some say that you should refrain from borrowing as much as you qualify for because it is wiser not to stretch your financial boundaries. The other school of thought says you should stretch to buy as much home as you can afford, because with regular pay raises and increased earning potential, the big payment today will seem like less of a payment tomorrow. This is a decision only you can make. Are you in a position where you expect to make more money soon? Would you rather be conservative and fairly certain that you can make your payment without stretching financially? Make sure that whatever you do, it's within your comfort zone. To determine how much home you can afford, talk to a lender or go online and use a "home affordability" calculator. Good calculators will give you a range of what you may qualify for. Then call a lender. While some may say that the "28/36" rule applies, in today's home mortgage market, lenders are making loans customized to a particular person's situation. The "28/36" rule means that your monthly housing costs can't exceed 28 percent of your income and your total debt load can't exceed 36 percent of your total monthly income. Depending on your assets, credit history, job potential and other factors, lenders can push the ratios up to 40-60% or higher. While we're not advocating you purchase a home utilizing the higher ratios, its important for you to know your options.
Where the money for the transaction will come from. Typically homebuyers will need some money for a down payment and closing costs. However, with today's broad range of loan options, having a lot of money saved for a down payment is not always necessary - if you can prove that you are a good financial risk to a lender. If your credit isn't stellar but you have managed to save 10-20% for a down payment, you will still appear to be a very good financial risk to a lender.
The ongoing costs of home ownership. Maintenance, improvements, taxes and insurance are all costs that are added to a monthly house payment. If you buy a condominium, townhouse or in certain communities, a monthly homeowner's association fee might be required. If these additional costs are a concern, you can make choices to lower or avoid these fees. Be sure to make your realtor and your lender aware of your desire to limit these costs.
If you are still unsure if you should buy a home after making these considerations, you may want to give me a call help you assess how a home purchase fits into your overall financial goals.
I am a licensed real estate professional. My job is to represent you in any and all real estate transactions. I have the experience and know-how to make your home selling and buying experience enjoyable. I can help you determine your buying power. I have the resources to find you homes that may not even be on the market. I provide valuable information to help with your selection process. I know how to successfully negotiate on your behalf. I provide due diligence through the property evaluation process.
I make the closing process smooth and stress-free. I know qualified lenders and understand your financing options. I have the means to successfully market your property. I know when, where and how to advertise your property. I can help accelerate the close on the sale of your home. Buying and selling homes is my job. It's what I do best. Give me a call and put me to work for you, so you can do what you do best. I look forward to hearing from you.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Household finance is more about everyday money management and a lot less 'sexy' than some other types of high-flying financial advice available. It is because that much of it is common sense - things that we already know (but fail to put into practise!) - that it isn't headline material. But the truth is, poor household financial management can be at the core of a family's financial problems. I know from personal experience, It's hard to sit down and create a budget and to stick to it! It's hard not to pull out that debit card when you see something that you just "have to have."
The length of time that it will take to cover those costs depends on various economic factors in the area of the home. Most parts of the country have an average of 5% appreciation per year. In this case, you should plan to stay in your home at least 3-4 years to cover buying and selling costs. If the area you buy your home in experiences an economic up turn, the length of the time to cover these costs could be shortened, and the opposite is also true.;)
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