The Banks Role In Determining The Path To A Short Sale - 08/11/07 09:49 AM
What do banks look for when they review the information on a loss mitigation request? (Step 1 in a short sale)
Most banks require the owner to provide 2 years of tax returns, two current months of bank statements and 2 recent pay stubs along with a complete financial statement and a hardship letter just to start with. They have their departments also reverify employment or unemployment dates. All of that is then compared to the time frame of the slow or non payment records. If all of these things match up and there is verification of a life changing event then in … (11 comments)

Mixed Messages..Hang On The Ride Has Just Begun - 08/09/07 06:20 PM
As the Dow Jones takes a dip in trading based on international investors selling off investments in the subprime but high yielding home loan market, we see applications for new mortgages surge???? If you like wooden roller coasters that drop and make you feel like your stomach is in your throat than the next 6 months is for you.... Below is a report that came out on 8/8/07 the day before the Dow Jones average adjusted downward 380 points amidst fears of further bad reports from mortgage lenders....
Oh and by the way the word on the street is getting louder that Bank … (4 comments)

Williamson County Housing Sales By City - 08/09/07 04:16 PM
 
Sales are down slightly over the 2006 Record Pace but continued economic growth continues to keep prices steady and home sales are stable. Larger homes and specialty / luxury homes have seen the bigggest slow down over the same time period in 2006
… (0 comments)

Williamson County July 2007 Housing Sales Figures - 08/09/07 04:10 PM
August 8, 2007 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of July. There were 472 residential and condominium closings reported for the month, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.Compared to July of 2006, the residential home closings decreased 16 percent. While the median prices for residential homes increased by 3 percent. Days on the market (DOM) for residential homes increased by 20 days or 43 percent as compared to July 2006. Condominium closings decreased by 3 … (0 comments)

Everybody Wants To Do A Short Sale! - 08/05/07 10:11 AM
Everyone is talking about it, they have clients who they fell might qualify, the banks are foreclosing on so many houses why want the work with my client?? 
Well the truth be told, not every client who is late on their mortgage payment will or should qualify for a Short Sale. See the rules have not changed for qualifying for a Short Sale, the Market has dramatically changed and now once something that was thought of as a last resort has become Option # 1 when the owner can't sell their house for a profit or breakeven. This isn't going to … (6 comments)

New Trust Laws in Tennesee Help Protect Your Finances Even More! - 08/05/07 09:34 AM
In our ongoing effort to share with the country the wonderful business climate and economically friendly climate in Tennessee I wanted to sahre an article from several local business periodicals as to why Tennessee has continued to see growth in the real estate market despite all of the negative regional reports from around the country. 
From The Nashville Business Journal, The Tennessean and Insurors Digest: 
Tennessee has liberalized its trust law to make things easier for those who have millions or hundreds of thousands of dollars to protect. For the first time, people can set up trusts in Tennessee to benefit themselves and still try … (0 comments)

Local Counties Pass New Senior Property Tax Rules - 08/05/07 09:22 AM
Davidson, Williamson and Rutherford Counties in Middle Tennessee adopt legislation at the local level to FREEZE the Property Taxes of Senior Citizens. In a November of 2006 refferendum the State's voters overwhelmingly approved the Legislature to  allow County Governments to place a Freeze on the property taxes on the primary residence of the state's senior citizens. Every county has the right to make some minor modifications and set income limits as a part of the tax freeze and every county must adopt their own program it is not a mandatory State wide law tat requires local governmnet to freeze the property tatxes of seniors.
Davidson County was … (0 comments)