A March 2008 article in USA Today says Buyers "Get a Lot of House for Their Money" in Chattanooga. This was even before Volkswagen committed to build a new assembly plant in our scenic city.
Chattanooga, Tennessee is a great place to work and live. If you are considering our town as possibly your next home, read the USA Today article and check out my previous blog entry of August 14 titled "Chattanooga a "Not So" Well Kept Secret" which links to many accolades from other major magazines. This will be a fun and informative research activity. Then come visit...
We have everything you want from recreation to arts to a growing job market.
© 2008 EUpwardRealty.com
Friday, August 22, 2008
Thursday, August 14, 2008
Chattanooga a "Not So" Well Kept Secret
Chattanooga, Tennessee is garnering all kinds of accolades from the outside world. National magazines are putting us at the top of the "Best of the Best" lists. Here are few articles that you might find interesting.
The September issue of National Geographic's Adventure magazine lists Chattanooga as one of The 50 Next Great Adventure Towns: Where to Live & Play Now . Check out this article.
Forbes Magazine recognized us in their April 7, 2008 magazine as one of the Great Places for Business.
In June of this year MSN Money called Chattanooga a "New Hot Retirement Spot."
Relocate America named Chattanooga as the third best place to live in the U.S. just behind Charlotte, NC and San Antonio, TX.
The Chattanooga Area Chamber of Commerce and all of our citizens have a lot to be proud about. We are proud of our town - now it seems the rest of the world is finding out about the place we call home.
There are a number of links in this blog entry - please take a few minutes and become more familiar with the Scenic City of the South. In the top right hand corner of this blog you will find more links to Greater Chattanooga Area information.
© 2008 UpwardRealty.com
The September issue of National Geographic's Adventure magazine lists Chattanooga as one of The 50 Next Great Adventure Towns: Where to Live & Play Now . Check out this article.
Forbes Magazine recognized us in their April 7, 2008 magazine as one of the Great Places for Business.
In June of this year MSN Money called Chattanooga a "New Hot Retirement Spot."
Relocate America named Chattanooga as the third best place to live in the U.S. just behind Charlotte, NC and San Antonio, TX.
The Chattanooga Area Chamber of Commerce and all of our citizens have a lot to be proud about. We are proud of our town - now it seems the rest of the world is finding out about the place we call home.
There are a number of links in this blog entry - please take a few minutes and become more familiar with the Scenic City of the South. In the top right hand corner of this blog you will find more links to Greater Chattanooga Area information.
© 2008 UpwardRealty.com
Tuesday, August 12, 2008
Housing and Economic Recovery Act of 2008
In late July, President Bush signed the Housing and Economic Recovery Act of 2008, also know as H.R. 3221. But what was included in this new bill? I will try to give you a brief overview in this blog entry.
First, the bill permanently increased the maximum conforming loan limits to $625,500. This raises FHA, Freddie Mac, and Fannie Mae limits. FHA limits are now the higher of $271,050 or 115% of an area's median home price up to the new $625,500 limit. For Fannie and Freddie, the new max is the higher of $417,000 or 115% of the area's median price to $625,500. These are the new pemanent figures. (You may remember that in February there was a temporary increase to a max of $729,750 and that amount is still the upper limit until December 31, 2008.)
The new legislation allows about 400,000 homeowners facing foreclosure to refinance with a new FHA backed loan.
Another super feature that should help in the recovery of the home sales market is the First-time home buyer tax credit. which allows first-time home buyers to receive a tax refund for up to 10 percent of a home’s purchase price, the maximum credit is $7,500. The refund serves as an interest-free loan and the homeowner is required to repay it in equal installments over 15 years. You can discuss this program with your tax adviser to see if it is good for you. Remember, this is for the first time homebuyer.
There are a lot of detailed features in this housing bill - if I just did a list of bullet items, there would be 10+ bullets to follow below. I think I would probably lose 90% of the audience...
The good news is that this should help the real estate market in the recovery process and that should boost the entire economy. If the economy begins to recover, the current low prices will begin to rise as demand increases for the current supply. NOW is the time to start looking for your new home, before everyone else jumps in and starts bidding up the prices again.
Check out my company web site to find a full-service Realtor that can help you find your next home... we are very good at selling homes, too.
© 2008 UpwardRealty.com
First, the bill permanently increased the maximum conforming loan limits to $625,500. This raises FHA, Freddie Mac, and Fannie Mae limits. FHA limits are now the higher of $271,050 or 115% of an area's median home price up to the new $625,500 limit. For Fannie and Freddie, the new max is the higher of $417,000 or 115% of the area's median price to $625,500. These are the new pemanent figures. (You may remember that in February there was a temporary increase to a max of $729,750 and that amount is still the upper limit until December 31, 2008.)
The new legislation allows about 400,000 homeowners facing foreclosure to refinance with a new FHA backed loan.
Another super feature that should help in the recovery of the home sales market is the First-time home buyer tax credit. which allows first-time home buyers to receive a tax refund for up to 10 percent of a home’s purchase price, the maximum credit is $7,500. The refund serves as an interest-free loan and the homeowner is required to repay it in equal installments over 15 years. You can discuss this program with your tax adviser to see if it is good for you. Remember, this is for the first time homebuyer.
There are a lot of detailed features in this housing bill - if I just did a list of bullet items, there would be 10+ bullets to follow below. I think I would probably lose 90% of the audience...
The good news is that this should help the real estate market in the recovery process and that should boost the entire economy. If the economy begins to recover, the current low prices will begin to rise as demand increases for the current supply. NOW is the time to start looking for your new home, before everyone else jumps in and starts bidding up the prices again.
Check out my company web site to find a full-service Realtor that can help you find your next home... we are very good at selling homes, too.
© 2008 UpwardRealty.com
Saturday, July 19, 2008
Chattanooga Welcomes Volkswagen
Unless you have been in a coma or visiting another planet since last Tuesday (July 15, 2008), you should know that Chattanooga has been selected as the site for a new $1 Billion VW production plant to be built. A lot of local folks are shaking their heads in amazement - but they are still smiling.
Everyone in the area knows this is big news, but most of us have yet to realize just what this means for the Southeast Tennessee and Northwest Georgia areas. In fact, Northeast Alabama and the Western regions of the Carolinas are going to benefit as well.
This is fantastic economic news for our area - especially at this time when we are seldom hearing even good economic news. Every area of the community should reap major, long-term economic growth and some stability to soften the natural ups and downs of the economy.
As a Realtor®, you know I have to look at the changes that are expected in the local housing market. While the changes will begin slowly and expand more quickly with time, you can and should expect not only to recover any property values lost over the last two years - you should expect price increases for the entire region. There will be a tremendous increase in the local payroll with VW and with the support businesses that move to the area. More money will be chasing a housing market that will have to expand to meet the demand. That means you will pay more for housing in the region.
If you've been sitting on the sidelines listening to the "Network Naysayers" (Network Nitwits), you might want to start thinking about YOUR future beyond the next 3-6 months. NOW IS THE TIME TO BUY A HOME! This is the best buyer's market Chattanooga has seen in probably 15 years or more. YOU may not see this kind of market again ever when the Rabbits start to multiply around here. Do you want a house? Yes, THEN GET OFF THE FENCE while you can afford a home.
When someone in New York (who sells stock on Wall Street) tries to give you real estate advice for Chattanooga, Tennessee, be very suspect about the value of that advice. (Stock brokers don't like real estate anyway, they like for you to pay them big fees then they lose your money for you.) Like politics, all real estate is local. And you know that local for us is promising - not the NY gloom and doom.
If you don't know where to start, contact me. My sales team and I live here in the Chattanooga area - we market this area all day - everyday, and we will still be here in a year or five years from now. We know a great place to live and we want to share it with you.
Here is a link to my company web site: http://www.upwardrealty.com/.
© 2008 UpwardRealty.com
Everyone in the area knows this is big news, but most of us have yet to realize just what this means for the Southeast Tennessee and Northwest Georgia areas. In fact, Northeast Alabama and the Western regions of the Carolinas are going to benefit as well.
This is fantastic economic news for our area - especially at this time when we are seldom hearing even good economic news. Every area of the community should reap major, long-term economic growth and some stability to soften the natural ups and downs of the economy.
As a Realtor®, you know I have to look at the changes that are expected in the local housing market. While the changes will begin slowly and expand more quickly with time, you can and should expect not only to recover any property values lost over the last two years - you should expect price increases for the entire region. There will be a tremendous increase in the local payroll with VW and with the support businesses that move to the area. More money will be chasing a housing market that will have to expand to meet the demand. That means you will pay more for housing in the region.
If you've been sitting on the sidelines listening to the "Network Naysayers" (Network Nitwits), you might want to start thinking about YOUR future beyond the next 3-6 months. NOW IS THE TIME TO BUY A HOME! This is the best buyer's market Chattanooga has seen in probably 15 years or more. YOU may not see this kind of market again ever when the Rabbits start to multiply around here. Do you want a house? Yes, THEN GET OFF THE FENCE while you can afford a home.
When someone in New York (who sells stock on Wall Street) tries to give you real estate advice for Chattanooga, Tennessee, be very suspect about the value of that advice. (Stock brokers don't like real estate anyway, they like for you to pay them big fees then they lose your money for you.) Like politics, all real estate is local. And you know that local for us is promising - not the NY gloom and doom.
If you don't know where to start, contact me. My sales team and I live here in the Chattanooga area - we market this area all day - everyday, and we will still be here in a year or five years from now. We know a great place to live and we want to share it with you.
Here is a link to my company web site: http://www.upwardrealty.com/.
© 2008 UpwardRealty.com
Monday, June 2, 2008
Buy a House for $100 down...
With the recent changes in the mortgage market, 100% loans have dried up. If you are a military veteran, you can still get 100% financing under the VA program, but everyone else needs a down payment.
If you have good credit but limited funds or you want to use the funds you have for decorating your new house, there may be some good news for you. Take a look at my post from May 28, 2008 titled "Buying HUD Homes with FHA Financing" (you can scroll down to it).
You should find this program interesting. If so, you can call me at 423-847-8001 for more information or to start your search. Or click on my website at www.UpwardRealty.com. Remember, HUD can take this program away at any time, so the sooner you get started, the sooner you get to move in!
© 2008 UpwardRealty.com
If you have good credit but limited funds or you want to use the funds you have for decorating your new house, there may be some good news for you. Take a look at my post from May 28, 2008 titled "Buying HUD Homes with FHA Financing" (you can scroll down to it).
You should find this program interesting. If so, you can call me at 423-847-8001 for more information or to start your search. Or click on my website at www.UpwardRealty.com. Remember, HUD can take this program away at any time, so the sooner you get started, the sooner you get to move in!
© 2008 UpwardRealty.com
Thursday, May 29, 2008
Right Time - Right Market
The Chattanooga Association of Realtors® (CAR) has begun a new campaign to help the community understand our current real estate market. The project includes billboards that will be popping up around town with testimonials from real people who are now homeowners in Chattanooga, Tennessee.
The campaign is called Right Time - Right Market. Chattanooga and the surrounding area is a great place to live and CAR is sharing this good news with everyone.
CAR has also created a new website that will help potential buyers and sellers learn more about the Greater Chattanooga Area and the benefits of buying a home. There are a lot of links at the new site, so you can research not only the City of Chattanooga, but the surrounding areas of Southeast Tennessee and Northwest Georgia. Here is quick link to the new website: www.RightTimeRightMarket.com.
Let me know what you think of the site by leaving comments on this blog. If you visit the site and find this is truly is the Right Time - Right Market for you, contact me and we will get to work. I can be found by calling 423-847-8001 or click on www.upwardrealty.com/.
© 2008 UpwardRealty.com
The campaign is called Right Time - Right Market. Chattanooga and the surrounding area is a great place to live and CAR is sharing this good news with everyone.
CAR has also created a new website that will help potential buyers and sellers learn more about the Greater Chattanooga Area and the benefits of buying a home. There are a lot of links at the new site, so you can research not only the City of Chattanooga, but the surrounding areas of Southeast Tennessee and Northwest Georgia. Here is quick link to the new website: www.RightTimeRightMarket.com.
Let me know what you think of the site by leaving comments on this blog. If you visit the site and find this is truly is the Right Time - Right Market for you, contact me and we will get to work. I can be found by calling 423-847-8001 or click on www.upwardrealty.com/.
© 2008 UpwardRealty.com
Wednesday, May 28, 2008
Buying HUD homes with FHA financing
Are you in the market for a house and want to save some money? The Department of Housing and Urban Development (HUD) has some homes on the market that you might need to consider. These are repossessed homes that were originally financed with an FHA loan, but have been taken back by HUD.
Yes, some of these homes do have significant problems, but you can find HUD homes that need just a little work such as some cosmetic attention and you can find HUD homes that need to be gutted and rebuilt. But you do get to inspect the houses before making an offer and you can do a full home inspection during escrow. HUD also has a "Property Condition Report" on line for each house that can be very helpful - but this does not replace a home inspection.
Many of these homes are eligible for FHA insured financing again, and HUD may help you with some incentives. If you are the winning bidder for one of these homes, HUD offers closing cost help as well as help with financing. Your agent will need to request all incentives when your bid is placed. You will need to live in the home you purchase, if you are looking for FHA financing help. Investors can also buy these home, but more traditional financing will be needed.
At present, there is a program called "Buy HUD with FHA" and it is a great option for qualifed buyers on a budget. Under this program, HUD is offering FHA financing with $100 down. The usual down payment for an FHA insured loan is 3%. So, on a $100,000 house, you would pay down $3000 on a regular FHA loan, but with this program, you pay down $100.
There is a catch, HUD says "PLEASE NOTE: These incentives are being offered for a limited time and may expire without notice." So, you need to get going if you want to take advantage of this program.
If you are interested in pursuing a program like this, you will need to work with a HUD approved broker who will have the keys to gain access to these properties. Any licensed real estate agent who has registered and been approved by HUD can help you. Of course, I would hope you would use me or one of my agents. I have helped a number of buyers purchase a HUD home over the years. You can find me at www.upwardrealty.com/ or call me at 423-847-8001. But whoever you select as your agent, ask them some questions and make sure they know the process and have experience assisting buyers with the HUD process.
In any case, if you think you are interested in this program, don't waste time thinking about it, get moving! Remember that bold warning from HUD and contact me or another approved HUD broker today.
You can look for HUD homes and more information on buying HUD homes at http://www.HudHomestore.com. If you have more questions, and you know you will, please don't hesitate to contact me, or you can post comments to this blog.
© 2008 UpwardRealty.com
Yes, some of these homes do have significant problems, but you can find HUD homes that need just a little work such as some cosmetic attention and you can find HUD homes that need to be gutted and rebuilt. But you do get to inspect the houses before making an offer and you can do a full home inspection during escrow. HUD also has a "Property Condition Report" on line for each house that can be very helpful - but this does not replace a home inspection.
Many of these homes are eligible for FHA insured financing again, and HUD may help you with some incentives. If you are the winning bidder for one of these homes, HUD offers closing cost help as well as help with financing. Your agent will need to request all incentives when your bid is placed. You will need to live in the home you purchase, if you are looking for FHA financing help. Investors can also buy these home, but more traditional financing will be needed.
At present, there is a program called "Buy HUD with FHA" and it is a great option for qualifed buyers on a budget. Under this program, HUD is offering FHA financing with $100 down. The usual down payment for an FHA insured loan is 3%. So, on a $100,000 house, you would pay down $3000 on a regular FHA loan, but with this program, you pay down $100.
There is a catch, HUD says "PLEASE NOTE: These incentives are being offered for a limited time and may expire without notice." So, you need to get going if you want to take advantage of this program.
If you are interested in pursuing a program like this, you will need to work with a HUD approved broker who will have the keys to gain access to these properties. Any licensed real estate agent who has registered and been approved by HUD can help you. Of course, I would hope you would use me or one of my agents. I have helped a number of buyers purchase a HUD home over the years. You can find me at www.upwardrealty.com/ or call me at 423-847-8001. But whoever you select as your agent, ask them some questions and make sure they know the process and have experience assisting buyers with the HUD process.
In any case, if you think you are interested in this program, don't waste time thinking about it, get moving! Remember that bold warning from HUD and contact me or another approved HUD broker today.
You can look for HUD homes and more information on buying HUD homes at http://www.HudHomestore.com. If you have more questions, and you know you will, please don't hesitate to contact me, or you can post comments to this blog.
© 2008 UpwardRealty.com
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