tn real estate: CNBC's Larry Kudlow hints at housing recovering - 07/25/08 01:30 PM
Larry Kudlow is joining fellow CNBC personality Jim Carmer in discussing housing very favorably this week. Cramer stated that it was now time to buy a house  and Kudlow is taking mainstream media to task for remaining pessimistic while there is strong data to support the slowdown's end is near if not already over.
Kudlow's points to support a housing recovery:
Median prices nationwide have climbed 10 percent since February. June'08s numbers were down six percent compared to June 07 - but have risen four months in a row when comparing month over month rather than year over year. Homes sold in the … (3 comments)

tn real estate: CNBC's Jim Cramer Says "Buy A House - NOW!!!" - 07/23/08 10:25 PM
Let's face it, CNBC can be pretty boring for most folks. But interesting personalities like Jim Cramer take the relatively mundane topic like stock performance and economic conditions, mix it with an exciting "ESPN SportsCenter-esque" format and it is tolerable. And it works, Cramer has tons of followers - almost a cult like following.
So Cramer's Mad Money show has a pretty big influence. Today he stated "I was the first guy that said torch your house for the insurance money (8 months ago). I am now telling you that between now and the next six months you have to buy … (20 comments)

tn real estate: Brave New World - 07/14/08 08:42 AM
Here we are on the dawn of the first trading day following IndyMac's collapse and the Federal Government's prop up of Fannie Mae and Freddie Mac and I must say that I'm not sure how the market will react.
First, Fannie and Freddie have always had the implied backing of the Federal Government. And while they still say that don't need it, the Fed has made unprecidended statements about these GSE's access to fund through the Fed. Our founding fathers were wise - checks and balances work. And when Fannie and Freddie were created, the check and balance always was that the Government … (3 comments)

tn real estate: Loan Officer Compensation Hurts Lenders - 07/01/08 02:14 PM
The State of Florida is suing Countrywide for misreprenting loan programs and aggressively approving subprime borrowers. "It is unthinkable that a company would try to take advantage of someone's dream of homeownership," Florida Attorney General Bill McCollum said in a statement.
I was taught in Journalism School to follow the money. If something stinks, follow the money and you'll probably find the source of the smell.
Human beings originate loans and those humans can have ethics and morals below were we'd hope them to be. It sounds like CW management pushed deals that shouldn't be done. Again, humans making mistakes. But … (8 comments)

tn real estate: CNBC Reporting 33% of Existing Sales "Distressed" - 06/26/08 04:39 PM
Diane (I've Never Seen Any Good News in the Market) Olnick is reporting that sales nationwide are holding at just under 5 million homes in May which is good, but that 33% of the homes selling are those either in foreclosure or approaching foreclosure. She quotes "the Realtors" as saying 33% are distressed. Is that the National Association of REALTORS or a pity party of former Realtors hanging out at Starbucks?
I was a Journalism Major - I was taught that if you can't clearly state your source, then you'd better think twice about publishing the story. Who is the source … (0 comments)

tn real estate: Why FHA is the Right Choice Today - 06/25/08 11:07 AM
With Mortgage Backed Securities (MBS) markets in turmoil for about a year now, the new emphasis for loans with a higher Loan to Value than 90%. Why is this? The answer lies with Ginnie Mae (GNMA) - Fannie Mae and Freddie Mac's cousin specializing on Government loans - and the way their loans are insured.
Fannie and Freddie don't guarantee payments on home loans, but the FHA does. Does the FHA guarantee the servicer payments and also the payments on underlying collateral? FHA guarantees for a fee (known as MIP) to the GNMA MBS security issuer that the borrower will make … (2 comments)

tn real estate: Updates on Rates - 06/20/08 09:58 AM
The market is still commanding a premium on Mortgage Backed Securities relative to 4 weeks ago - the talk of inflation has investors on the sideline forcing rates up.
However, this morning we are enjoying the lowest rate of the last 2 weeks. We aren't back to the mid-5's but it looks like we're getting some relief for a bit.
Remember, the rates ALWAYS got up quicker than they go down. Give me a call for a quote on your scenario and lock in the relief we are seeing.
… (0 comments)

tn real estate: Increased Incentives Carry Challenges - 06/20/08 09:37 AM
Today the Tennessean is reporting about the increased and unusual incentives being offered by sellers. (see the link below) One builder is offering a car or a trip or a year's tuition to Vanderbilt. Sounds great!
But buyers need to be aware that such incentives will likely reduce the amount that a lender can lend off of, essentially voiding the incentive. For example:
Sales Price:  $350,000
Incentive:   $10,000
Sale Price Lender will use:  $340,000*
*This number is then the starting point for all lending factors - ie, 80% LTV, appraisal, ect
80% LTV = $272,000
Borrower would bring $78,000 to closing … (3 comments)

tn real estate: FHA Loans - Mortgage Insurance Changes - 06/18/08 10:15 AM
Changes to FHA Mortgage Insurance are right around the corner. Please get your clients to application BEFORE July 14th in order to enjoy the current 1.5% Upfront Premium and .5% Monthly for all borrowers. After July 14th, FHA will istitute a risked based Mortgage Insurance schedule - outlined below.
Please note - the FHA case number must be assigned by July 14th. It would be wise to get to application a day or two earlier to make sure the number is assigned by the 14th. Also note, case numbers are specific to the borrower AND the property address. If the inspection … (1 comments)

tn real estate: Market Comment - June 16 - 06/16/08 09:39 AM
 
 
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tn real estate: The Real Numbers on Foreclosures - 06/13/08 09:08 AM
To say that I'm tired of the media's constant negative coverage of the Real Estate Market is an understatement. As a former journalist, I'm disgusted by the coverage.
Case in point is today's numbers from RealyTrac (a firm that makes money by helping people location foreclosures - not exactly an impartial source) showing that foreclosures jumped 48% in May. OK, a 48% increase is pretty significant increase but the percentage doesn't tell the entire story.
To try to be more compelling (remeber, they are selling memberships to their site) the story also also goes on to state that 1 in every 483 homes … (4 comments)

tn real estate: The Economy's Silver Lining For Real Estate - 01/22/08 08:11 AM
It has been said that you should always look for the silver lining. That might be hard to do right now for some as we appear to be looking down the barrel of a rec..., wait, let's just say leaner economic growth than previously experienced. This is an election year, 'et's be politically correct.
The silver lining for those of us in Real Estate and Home Financing is lower rates. Why does the impending leaner economic growth :) mean better rates. Well, a day like Monday on the Asian markets sends traders from volatile but high yield potential stocks to predictable modest … (3 comments)

tn real estate: Haven't Applied for a Loan in a Few Years - You May Have Some Surprises - 01/11/08 11:57 PM
I had an old neighbor email me today asking about her financing as she gets ready to buy a home. The answers I gave are pretty vanilla, but for her they are probably shocking because she hasn't applied for a loan in 3 years. She inquired about doing an 80/20 to avoid MI - clearly she hasn't been keeping up with guidelines :) How things have changed! Two years ago no one would have a loan with MI and now it really is the right way to do it for many borrowers.
"Things have changed a bit since the last time … (2 comments)

tn real estate: 2008 Nashville Market Outlook - 01/07/08 03:12 PM
As we get rolling into 2008, the best sources are indicating that the Nashville market is extremely healthy. According to Moody's Economy.com, Nashville's housing market is "faring better than the markets of other larger metro areas and it maintains a positive outlook."  One of the reasons for the market's good standing was the abscence of quickly inflated prices - often due to strong investor activity - seen in many areas of the country that are now hardest hit by price retreats. "Nashville has below average exposure to investors and to nonprime borrowing."
The area's strong job growth is attributed to the steady growth of … (10 comments)

tn real estate: Brokers Not Responsible for Mortgage Mess? - 12/17/07 03:13 PM
On December 16, 2007, the Tennessee Association of Mortgage Brokers' president, Brian Short, was quoted in The Tennessean as saying "I can't see how mortgage brokers are responsible for the increase in foreclosures." Yet, one of the largest lenders with sales channels in both direct sales and via brokers has stated that over 3/4 of its loans that have entered foreclosure were originated by mortgage brokers and not their direct sales channels, known as mortgage bankers. With such a staggering disparity, how can Mortgage Brokers claim no responsibility?
Mr. Short and the TN Association of Mortgage Brokers will argue that it is … (5 comments)

tn real estate: Rate Watch - 12/14/07 04:34 PM
For 12/14/2007...
30 Yr Fixed Conforming - 6%
15 Yr Fixed Conforming - 5.75%
5/1 LIBOR ARM - 6.125%
30 Yr Fixed Jumbo - 6.375%
30 Yr My Community - 6.875%
30 Yr Fixed Interest Only - 6.375%
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Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation of Certified Mortgage Planning Specialist (CMPS). He is a Home Loan Consultant for Countrywide Home Loans in Brentwood, TN - Countrywide's #1 branch for purchase originations. Additionally, Kevin earned his Masters of Business Administration (MBA) from Nova Southeastern University bringing advanced concepts to his clients' mortgage plans and his referral partners … (0 comments)

tn real estate: FHA Changes Coming for Early 2008? - 12/14/07 11:50 AM
With Subprime lending virtually non-existing, expanding FHA will give the mortgage and Real Estate markets a nice shot in the arm.
FHA Loan Expansion Heading to a Vote
Washington Post (12/14/07) P. D1; Cho, David
Senate legislation to revamp the Federal Housing Administration mortgage program has finally moved out of committee and is expected to be passed in the next couple of days when it comes up for a full floor vote. The bill would reduce the required down payment on FHA-insured mortgages to 1.5 percent from 3 percent and open the program to pricier housing markets by letting the agency insure … (0 comments)

tn real estate: Being a Home Buyer Today is Like Being at a Middle School Dance - 12/11/07 08:32 AM
OK, let's be honest about our Middle School experiences. There probably isn't a time in life were being like everyone else is as important as Middle School - just fitting in is an accomplishment. So when the school dance came around, you probably did what just about everyone else did - stand against the wall on the side of the gymnasium.
But the funny thing is that the very best dance partners were probably out on the dance floor while everyone else was standing on the wall waiting for Mister or Miss Right to ask us to dance. I'm not ashamed to … (1 comments)

tn real estate: Rates Too High Part II - 12/05/07 02:05 PM
This one shows the history of rates since 1790. Rates too high? Are you kidding me? Get some perspective...
Provided by Jim McMahan, Mortgage Market Guide
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Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation of Certified Mortgage Planning Specialist (CMPS). He is a Home Loan Consultant for Countrywide Home Loans in Brentwood, TN - Countrywide's #1 branch for purchase originations. Additionally, Kevin earned his Masters of Business Administration (MBA) from Nova Southeastern University bringing advanced concepts to his clients' mortgage plans and his referral partners marketing plans. He believes that if he … (2 comments)

tn real estate: Rates Are Too High to Buy Now?!?! - 12/05/07 01:56 PM
I recently had a buyer choose to not buy a home because "rates were too high." Certainly an excuse but here's some evidence to fire back at someone if you get the same point of resistence.
Provided by Jim McMahan, Mortgage Market Guide*******************
Kevin Michelson, CMPS, MBA is one of the few mortgage originators in the state of Tennessee to hold the prestigious designation of Certified Mortgage Planning Specialist (CMPS). He is a Home Loan Consultant for Countrywide Home Loans in Brentwood, TN - Countrywide's #1 branch for purchase originations. Additionally, Kevin earned his Masters of Business Administration (MBA) from Nova Southeastern University bringing advanced … (3 comments)

 
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Nashville Insurance - Kevin Michelson, MBA

Nashville, TN

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Liberty Mutual

Address: 4017 Hillsboro Pike, Ste 406, Nashville, TN

Office Phone: (615) 463-5990 x 59942

Cell Phone: (615) 430-9140

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