Housing Market Up ??

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The big players in the mortgage business, Fannie Mae and Freddie Mac, may be gearing up to help home owners in distress due to possible foreclosure, according to news today via Comcast.net. According to the article:

Richard Syron, Freddie Mac's chairman and chief executive, said the company is "working on a major effort to develop more consumer-friendly subprime products that will provide stable financing alternatives going forward," which are expected to be available by midsummer.

30-year mortgages are already commonplace, but growth is expected in 40-year mortgages. Because these mortgages are longer-term, buyers will pay more interest, but monthly payments would be expected to go down.

In other news, the housing market economic outlook is being called "modest" by forecasters. According to CNN,

The South, which accounts for about half the nation's home building, showed a 3 percent decline [in housing starts], and building fell nearly 8 percent in both the Northeast and West.

But according to the same article, the National Association of Home Builders predicts the housing market to stagger along,

The glut of new homes for sale on the market has slammed sales and profits of the nation's major builders.

On a personal note, the market does seem to be picking up after what has been my longest dry-spell since I initially got my real estate license. For that I am very thankful! I'm always available as a full-time agent to help you with any of your real estate needs. I also appreciate any referral business you can send!

Open House this Sunday

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I'm helping an agent in my office out this Sunday by hosting an open house on one of her listings. If you're in the housing market or you know someone who is, please stop by 302 Davids Way between 2:00 and 4:00 p.m. on Sunday. It's a beautiful home with lots of upgrades! There are so many lovely places to live in La Vergne and this one is definitely one of them! Some photos:


Notice the privacy fence in the back, all brick (with some wood), level yard, two car garage.








I love this living room. Neutral colors, fireplace, bright.



Here's the real winner... this kitchen with the black appliances is very pretty. I like having a pantry (see to the right of the stove) ... very nice.



A formal dining room is huge!



PLUS a breakfast nook.



PLUS a bonus room!



(See, I told you this house is beautiful!)

Finally, a view of the back yard!



Come by and say hello! And don't forget about the lender I know whose company is offering $5,000 toward closing costs (while supply lasts - probably mid-May). I received a phone call earlier this week about this offer, but never heard back from the caller. Let me know if you want more info because this won't last long.

And for your added info, here's a quick guesstimate... to buy a home for $110,000, your payment would be around $785 p/month (includes tax and insurance). So to buy a home for $200,000, it would be around $1400'ish. And there are plenty of other homes out there! Right now, we have 381 homes on the market in La Vergne. Lowest price is $31,500 on Old Jefferson Pike and the highest is $485,900 in Hampton Estates.