I want to address some of the myths that the media is promoting.
First and probably foremost, they want you to believe that someone has to have 20% down to buy a home. That is far from true. There are several ways (especially if you are a Veteran, a first time buyer or buying in a rural area) to actually buy with zero cash. Just talk to me about it. Even if none of those situations fit you, an FHA loan requires only 3.5% down and that can be a gift.
They also want you to think you can buy with only the best credit score. That isn't true either. While the credit requirements are higher than they have been, we can often make a score of 620 to 640 work. Once again a little consulting from me can make the difference. Often we can tweak a couple of things and rescue a situation that won't work today and make it work in a couple of months.
What I do is figure out how to makes loans work for you. It is almost like hiring me as your lawyer. It is my job to represent my client and to get you the most desirable loan or I don't get paid. My number is 777-4663 (HOME) or e-mail me at George.Margrave@MIGonline.com .
Wednesday, August 24, 2011
Wednesday, August 17, 2011
The Local Real Estate Market
The media focuses on the national picture. But let’s stop and consider the local picture. The median price (not the average) for existing single family homes has dropped from $196,600 in 2008 to $173,100 in 2010. At the same time the interest rate has dropped from 6.15% to the present low 4's.
If we look at appreciation in Tennessee we see that the 5 year rate is positive at 2.79% and the ten year rate a great 28.06%. So from where I sit it is an unbelievably great time to buy a home in Tennessee. If you already own one, maybe it is time to sell it and move up. Or if not that, maybe to refinance and get a 15 year rate in the low 3's. No you didn’t hear wrong. Give me a call at 777-HOME (4663) or email me at George.Margrave@migonline.com .
If we look at appreciation in Tennessee we see that the 5 year rate is positive at 2.79% and the ten year rate a great 28.06%. So from where I sit it is an unbelievably great time to buy a home in Tennessee. If you already own one, maybe it is time to sell it and move up. Or if not that, maybe to refinance and get a 15 year rate in the low 3's. No you didn’t hear wrong. Give me a call at 777-HOME (4663) or email me at George.Margrave@migonline.com .
Wednesday, August 10, 2011
REALTOR.COM Traffic Confirms Its Popularity
If anybody doubts the amount of consumer traffic at REALTOR.COM, the June 2011 traffic reports should dispel those doubts:
• 31% more minutes are spent on REALTOR.com than the next closest competitor (Zillow).
• The average visitor spends 18.6 minutes, and viewed 44 pages while searching properties on REALTOR.com.
• More pages were viewed on REALTOR.com than the next 3 competitors combined (Trulia.com, Zillow, Homes.com).
• REALTOR.com received 95% more visits than the next closest competitor (Zillow).
• REALTOR.com has the most average daily visitors, 97% more daily visitors than the next closest competitor (Zillow).
• 170% more pages were viewed on REALTOR.com than the next closest competitor (Trulia.com).
• REALTOR.com real estate search app for iPhone and iPad has been downloaded almost 5.2 million times and growing. An average of 10 listing detail pages are viewed per user per day.
• Android app for REALTOR.com has had over 770,000 downloads and an average of 9 listing detail pages are viewed per user per day.
From Tennessee association of Realtors
You can reach me at 615-777-4663 or via email at george.margrave@migonline.com
• 31% more minutes are spent on REALTOR.com than the next closest competitor (Zillow).
• The average visitor spends 18.6 minutes, and viewed 44 pages while searching properties on REALTOR.com.
• More pages were viewed on REALTOR.com than the next 3 competitors combined (Trulia.com, Zillow, Homes.com).
• REALTOR.com received 95% more visits than the next closest competitor (Zillow).
• REALTOR.com has the most average daily visitors, 97% more daily visitors than the next closest competitor (Zillow).
• 170% more pages were viewed on REALTOR.com than the next closest competitor (Trulia.com).
• REALTOR.com real estate search app for iPhone and iPad has been downloaded almost 5.2 million times and growing. An average of 10 listing detail pages are viewed per user per day.
• Android app for REALTOR.com has had over 770,000 downloads and an average of 9 listing detail pages are viewed per user per day.
From Tennessee association of Realtors
You can reach me at 615-777-4663 or via email at george.margrave@migonline.com
Wednesday, July 27, 2011
The Sky Is Not Falling
This week's post comes from the Cabot Wealth Advisory
July 25, 2011
Salem, Massachusetts
By Timothy Lutts
I don’t know about you, but I’m sick and tired of all this debt ceiling talk … the distortion of facts, the posturing and the brinksmanship. But that’s politics and I expect no less from the elected representatives of our oh-so-diverse country.
What bothers me more than that is the way the media is eating it up—even fanning the flames—by constructing terrible scenarios of what might happen if the debt ceiling isn’t raised.
What’s lacking is a rational voice.
So today I’ll provide it, by looking at this from a perspective most people haven’t considered.
We start back in 1999, when the whole world was preparing for the countdown to the new millennium, or Y2K. The big fear then was that computers that had been programmed to treat years as two digits might think we were back in 1900 when the calendar rolled over. And if those computers belonged to banks, airlines, electric and water utilities, etc., the resulting chaos, dubbed the Y2K crisis, might bring civilization to a standstill … at least until someone rebooted.
John Hamre, United States Deputy Secretary of Defense said, “The Y2K problem is the electronic equivalent of the El Niño and there will be nasty surprises around the globe.”
But nothing happened. There were a lot of parties, and life went on.
On a smaller scale, consider two weekends ago.
Residents of Los Angeles were warned that the Sepulveda Pass Improvement Project, in which 10 miles of normally congested highway were shut down for 53 hours, would result in massive gridlock. The potential nightmare was dubbed Carmegeddon.
Posie Carpenter, chief administrative officer of The UCLA Medical Center, said, “We see this as being a disaster—only it's a planned disaster."
But nothing happened. In fact, the construction project was completed in just 36 hours, 17 hours sooner than expected.
The similarities in both cases should be obvious.
There was a well-publicized threat. There were widespread warnings about the threat. There was wide-scale adaptation to the threat.
And as a result, there was little or no pain.
In fact, thanks to the Y2K threat, a lot of computers were updated, which provided a nice shot in the arm to the tech sector.
And in LA two weekends ago, a lot of folks walked, rode bikes or used public transportation, and if some of them stick with that alternate mode of transportation, everyone will benefit.
Coming back to the debt ceiling crisis, which still lacks a catchy nickname, I think we’ve had ample and widespread warning, and I see little chance that the parties in power won’t come up with a compromise before the time bell rings. But I also see that each party will refuse to compromise for as long as it thinks it can gain political advantage from doing so … which could be right up to the wire.
And what will be the advantage to us from this “avoided disaster?”
Ideally, a smaller deficit, and the start of a true trend toward an improved national balance sheet. I look forward to it.
I can’t avoid sticking this in here.
Concern Yourself Least When Others Fear Most
The corollary, by the way, is this: Trouble comes from where it’s least expected.
So what should you worry about? Well, if you live in Southern California, and are happy to have avoided Carmeggedon, I suggest you think hard about an earthquake. I recently spoke with a seismic geologist who’d recently relocated from Los Angeles to Boston, and he told me he’s very happy to be on solid ground.
I can be reached at 615-777-4663 or via email at George.Margrave@MIGonline.com
July 25, 2011
Salem, Massachusetts
By Timothy Lutts
I don’t know about you, but I’m sick and tired of all this debt ceiling talk … the distortion of facts, the posturing and the brinksmanship. But that’s politics and I expect no less from the elected representatives of our oh-so-diverse country.
What bothers me more than that is the way the media is eating it up—even fanning the flames—by constructing terrible scenarios of what might happen if the debt ceiling isn’t raised.
What’s lacking is a rational voice.
So today I’ll provide it, by looking at this from a perspective most people haven’t considered.
We start back in 1999, when the whole world was preparing for the countdown to the new millennium, or Y2K. The big fear then was that computers that had been programmed to treat years as two digits might think we were back in 1900 when the calendar rolled over. And if those computers belonged to banks, airlines, electric and water utilities, etc., the resulting chaos, dubbed the Y2K crisis, might bring civilization to a standstill … at least until someone rebooted.
John Hamre, United States Deputy Secretary of Defense said, “The Y2K problem is the electronic equivalent of the El Niño and there will be nasty surprises around the globe.”
But nothing happened. There were a lot of parties, and life went on.
On a smaller scale, consider two weekends ago.
Residents of Los Angeles were warned that the Sepulveda Pass Improvement Project, in which 10 miles of normally congested highway were shut down for 53 hours, would result in massive gridlock. The potential nightmare was dubbed Carmegeddon.
Posie Carpenter, chief administrative officer of The UCLA Medical Center, said, “We see this as being a disaster—only it's a planned disaster."
But nothing happened. In fact, the construction project was completed in just 36 hours, 17 hours sooner than expected.
The similarities in both cases should be obvious.
There was a well-publicized threat. There were widespread warnings about the threat. There was wide-scale adaptation to the threat.
And as a result, there was little or no pain.
In fact, thanks to the Y2K threat, a lot of computers were updated, which provided a nice shot in the arm to the tech sector.
And in LA two weekends ago, a lot of folks walked, rode bikes or used public transportation, and if some of them stick with that alternate mode of transportation, everyone will benefit.
Coming back to the debt ceiling crisis, which still lacks a catchy nickname, I think we’ve had ample and widespread warning, and I see little chance that the parties in power won’t come up with a compromise before the time bell rings. But I also see that each party will refuse to compromise for as long as it thinks it can gain political advantage from doing so … which could be right up to the wire.
And what will be the advantage to us from this “avoided disaster?”
Ideally, a smaller deficit, and the start of a true trend toward an improved national balance sheet. I look forward to it.
I can’t avoid sticking this in here.
Concern Yourself Least When Others Fear Most
The corollary, by the way, is this: Trouble comes from where it’s least expected.
So what should you worry about? Well, if you live in Southern California, and are happy to have avoided Carmeggedon, I suggest you think hard about an earthquake. I recently spoke with a seismic geologist who’d recently relocated from Los Angeles to Boston, and he told me he’s very happy to be on solid ground.
I can be reached at 615-777-4663 or via email at George.Margrave@MIGonline.com
Wednesday, July 20, 2011
A Ray of Sunshine is Coming....
A ray of sunshine is coming. At least I think so if the President and Congress can get the debt limit extended. That will be because the media will start publishing some better figures. And that is because for a long time the reported housing statistics have been compared to the time period when we had the first time homebuyer’s tax credit. July will be the first month that we don’t have that comparison. And just maybe some of the other negatives will die down. I do know you can take advantage of the real estate close out sale to get a great value and finance it with a great interest rate. And contrary to what you hear, you don’t have to pay 20% down. With VA it is zero down, with FHA it is 3.5% down and with conventional it is 5% down.
Also the first time homebuyers don’t have to have any money. Call and ask me how YOU can buy a house.
You can reach me by phone at 615-777-4663 and via email at George.Margrave@MIGonline.com .
Also the first time homebuyers don’t have to have any money. Call and ask me how YOU can buy a house.
You can reach me by phone at 615-777-4663 and via email at George.Margrave@MIGonline.com .
Wednesday, July 13, 2011
Here is some good Real Estate News
Forbes, in a study just completed with Praxis Strategy Group, projects Nashville to be the No. 3 boom town in the coming decade. That is out of the 52 top cities in the US. They looked at recent growth and demographic information like family formation and growth in educated migrants among other things. Forbes also wrote: “The country music capital, with its low housing prices and pro-business environment, has experienced rapid growth in educated migrants, where it ranks an impressive forth in term of percentage growth.”
Now this is the kind of news we need to show our potential homeowners. The values and market of the future may be very strong.
You can reach me via phone at 615-777-4663 or via email at George.Margrave@MIGonline.com
Now this is the kind of news we need to show our potential homeowners. The values and market of the future may be very strong.
You can reach me via phone at 615-777-4663 or via email at George.Margrave@MIGonline.com
Wednesday, July 6, 2011
Laptop Safety
This is a little off the subject, but not really, since about all the Real Estate and Mortgage people I know live thru their laptops
Are you tired of having a trusty computer for work and pleasure? Do you relish the anxious insecurity of knowing a creeper somewhere could be browsing all your personal and corporate information? Or are you just tired of things going smoothly at work and want some thin ice to walk on for a bit? Then this post is for you!
There are a lot of ways to make sure your laptop gets stolen and all your files compromised. Not only can you lose your personal documents, applications, pictures and videos, but your company’s confidential, proprietary data and sensitive customer data as well! It’s easier than you would think to completely mess stuff up, lose hundreds of dollars and make things pretty miserable for yourself!
Here is our patented, six-step, surefire way to make sure your laptop gets stolen and all your hard work gets tossed out the window:
1. Leave your computer in your car in plain sight, like the front or back seats
2. Carry your laptop in an obvious “laptop bag”
3. In public places like coffee shops, leave your computer on the table when you get up
4. Don’t have a secure system login password
5. Don’t back up your important files once a week and before going on trips
6. Assume it’s safe and will not get stolen today
Protecting your computer can be a little like convincing yourself to floss. You know what you should do. But do you do it? The answer to that question is the difference between a major disaster and a minor setback.
From Claris networks
You can reach me at 615-777-4663 or via email at George.Margrave@migonline.com
Are you tired of having a trusty computer for work and pleasure? Do you relish the anxious insecurity of knowing a creeper somewhere could be browsing all your personal and corporate information? Or are you just tired of things going smoothly at work and want some thin ice to walk on for a bit? Then this post is for you!
There are a lot of ways to make sure your laptop gets stolen and all your files compromised. Not only can you lose your personal documents, applications, pictures and videos, but your company’s confidential, proprietary data and sensitive customer data as well! It’s easier than you would think to completely mess stuff up, lose hundreds of dollars and make things pretty miserable for yourself!
Here is our patented, six-step, surefire way to make sure your laptop gets stolen and all your hard work gets tossed out the window:
1. Leave your computer in your car in plain sight, like the front or back seats
2. Carry your laptop in an obvious “laptop bag”
3. In public places like coffee shops, leave your computer on the table when you get up
4. Don’t have a secure system login password
5. Don’t back up your important files once a week and before going on trips
6. Assume it’s safe and will not get stolen today
Protecting your computer can be a little like convincing yourself to floss. You know what you should do. But do you do it? The answer to that question is the difference between a major disaster and a minor setback.
From Claris networks
You can reach me at 615-777-4663 or via email at George.Margrave@migonline.com
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