Chris Elrod Properties-Connecting Buyers & Sellers Of Real Estate

Housing is Recovering!!!

Here’s more evidence that the housing market is recovering. Two major home builders, Toll Brothers Inc. and Hovnanian Enterprises Inc., say their losses were shrinking compared to last year because buyers are coming back to the market. Other encouraging news came from IHS Global Insight, a research firm, which said home prices fell on average at an annual rate of 2.2 percent in the first quarter in 199 of 330 metropolitan areas. That compares with a 12.5 percent decline in the fourth quarter of 2008 in 312 metropolitan areas. "While it's too early to see a bottom of this housing downturn," the report said, the latest data "may signal that the market is beginning to stabilize."

Source: The Wall Street Journal, James R. Hagerty and John Spence (06/04/2009)

1004 Brixworth Drive, Spring Hill, TN - $279,900

This warm and inviting home features decorator wall colors, custom finished cabinetry and golden hardwoods thorough out the main.  The kitchen is spacious and has granite countertops and under cabinet lighting.   The kitchen and the great room connect creating a spacious open social and entertaining area.

 

The owners suite is downstairs.  Upstairs are three additional bedrooms, each having their own walk-in closets.  The LARGE oversized bonus room has  a HUGE storage closet.   With the storage space in this home, you will have room for Everything!

 

*****NEW FLAT  SCREEN TV REMAINS!!!****

 

Bridgemore Village

Introducing Bridgemore Village – Pastoral living with the appeal of beautiful lots and large                     tracts of green space. In fact, over 250 acres adjacent to                     the homesites of Bridgemore Village are dedicated to open                     space. Pocket parks, walking trails and a playground make the space even more family friendly.                     At Bridgemore Village, we’ve created a community with                     a diversity of home styles, prices and size. Yet all of them                     represent the types of homes you won’t find anywhere                     else in Williamson County.
                   
Located in Thompson’s Station, Bridgemore Village is convenient to SR 840, for easy access to nearby Franklin, Cool Springs and downtown Nashville. Neighborhood amenities include a pool and cabana, a tree-lined boulevard entry and sidewalks. We’ve made convenience, recreation and space for activities a priority for homeowners here.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

•		Located in Thompson’s                         Station
•		Convenient to I-65 and Franklin, Cool Springs                         and the                         Galleria Mall.
•		Pool and cabana
•		Sidewalks and walking trails
•		Several pocket parks

                  

Directions from Nashville:
Follow                  I-65 South to Exit 59B.
Take Exit 30 and turn right onto Lewisburg Pike.
Travel 1 mile, then turn right on Critz Lane.
Bridgemore Village is .7 miles on left.

Directions From Springhill:
Take US-31 North and turn right on Critz Lane.
Bridgemore Village will be on your right.

For More Info click here.

In Your 70s, Weighing Whether to Buy a Home or Rent

Question: We recently sold our home and have relocated to a different part of the state. We are renting until we decide which neighborhood we wish to live in and have eight more months on our lease. Should we decide to buy at our ages, 75 and 73, or continue to rent? We are both healthy and able to pay all cash, or shouldn't have trouble getting a mortgage as we both have excellent credit and no debt. We have heard arguments both ways involving life expectancy, the continuing drop in housing prices within our time frame, and rentals becoming more scarce as homeowners are having to foreclose, etc.

  --Herbert Dennis, Vancouver, Wash.

Answer: Two certified financial planners, one on the East Coast and the other on the West Coast, suggested that you seriously consider continuing to rent -- or, if you'd rather buy, at least scale down to a condominium with less maintenance involved than a house.

Financially speaking, you'll have to weigh what you're paying for rent against what you'd want to pay for a house, factoring in taxes and potential appreciation, says Cary Carbonaro, a planner who practices in Clermont, Fla., and New York. And if you have children, you'll need to think about whether it's important to you to leave them a house as their inheritance.

For the rest of the article click here.

By Kelly Greene
From The Wall Street Journal Online

Villages at Clovercroft

The Villages at Clovercroft, a new residential neighborhood, can boast 173 home sites with homes from three different collections — and two distinctive personalities.

"This development is unique in that it has elements of the traditional neighborhood development and elements of the standard subdivision, too," said Dan Crunk, director of land development with The Jones Company.

"The northern part of the project has a mix of housing styles in proximity to each other. Sidewalks, the neo-traditional feel, the landscaping and streetscaping are all part of this style. The lot sizes are from 6,000 to 21,000 square feet, with most lots ranging from 6,000 to 10,000," Crunk said.

The development's southern side has more of a standard subdivision look. Those lots from a third to a half acre.

For the rest of the article click here

By CATHI AYCOCK
For Williamson A.M.

Charming downtown brings in the buyers

Home listings close the the square grow in price, popularity
By Cathi Aycock
For Williamson AM
How hot is the residential real estate market for historic downtown Franklin? Ask any real estate professional, developer or homeowner. Residential property available in the two-mile radius from Five Points in downtown Franklin is always red hot on the residential radar.
"The allure is living within walking distance to downtown. We live in a community that is so unlike any other. Franklin has managed to preserve the downtown area in a way that is really unique. So, of course, we have clients who say they only want to live in this area,"says Matt Ligon with Shirley Zeitlin and Co. But Ligon is quick to point out that the term "Historic Franklin" does not mean your hosue will be historic. "I have lived in old houses all my life. I mean like 1800s old. Now my wife and I live in a home built in the 1930s. People ask me if I like living in an old home, but to me, it isn't really all that old."
According to Ligon, three main types of residential property are available to buyers in the downtown Franklin area: histori, infill and simply od and charming. "You have amazing historic homes, built in the 1800s. You have charming bungalows. Some are fixer uppers. And then you have infill, property that has been built fairly new, and made to fit in the existing environment."
Ligon says almost everyone has a different definition of hisoric.

Title Insurance-Not just another fee

What is Title Insurance?
Even though we call it insurance, it's really a process that includes an end product-the title insurance policy.
There are two types of title insurance: lender's and owner's title insurance. Most lenders require  loan policy when they issue a loan to protect their interest in the property should  a problem arise. The policy amount decreases each year and eventually disappears as the loan is paid off. It does not protect the homeowner.
As owner's policy assures the homeowner that the property is free of issues that could cloud the title. IT is purchased for a tone-time fee at closing and is good for as long as they or their heirs have an interest in the property. This may even be after the insured has sold the property. If the homeowner refinances, the lender will require a new loan policy.
Prior to issuing the insurance policy and before closing, title professionals scour books and numerous pages of property information, maps , records, and more looking for any questions or problems of ownership.
what are some typical problems that might cloud a title? There Amy be a lien on the property for unpaid property taxes by the previous owner, or a mechanic's lean by a subcontractor who preformed work on the property and was never paid. Other examples include a prior unpaid mortgage, deceased parties in title, or covenants and restrictions on the use of the property.
If a title problem is discovered, title agents, work behind the scenes to fix them, often without customers knowing there was an issue. According to the American Land Title Association, over 33% of all residential property transactions have some kind of title problem or question from the start-that's one in three property transactions.
Sometimes there are problems that go undetected during the title search, such as fraud or forgery, a mistake in the public record, or an unknown heir claiming ownership. If this occurs, homeowners would file a claim with the title insurance company.
The truth is, claims are lower than the other lines of insurance because of the due diligence that is preformed before the policy is issued. Most of the premium dollar goes to pay for the upfront costs of preforming the title search, and clearing up title issues before closing.

Home Buyer Helper

There's been a lot in the news recently about the delinquency problems with subprime mortgages, even though these delinquencies comprise less than 2 percent of all outstanding loans.
Lenders have been tightening their underwriting standards, making it harder for some consumers to find and qualify for a mortgage. However, most home buyers still have a number of financing options.
Conventional fixed rate and traditional ARMs offered in both the prime an subprime markets, are good choices for some first-time home buyers.
Responsible nontraditional mortgates and hybrid subprime mortgates are still a choice for borrowers who can afford them.
FHA and VA have recently made significant improvments to their programs that can be valuable financing tools for many home buyers.

How to spot a bargain in "as-is" homes

The neighbors wanted to have the house condemned. But Jackie Braitman knew the home in Takoma Park, Md., had potential. When it came on the market, listed for sale "as-is," she pounced, picking it up for about $550,000. Three years — and a complete renovation — later she is selling the house for more than twice that.Is that "as-is" home listing you spotted hiding a bargain or a disaster?
To figure out what you're looking at, you have to figure out what "as-is" means. "If you ask 10 different people —including a judge — you'll get 10 different answers," said Irene Lindner, a real estate lawyer in the District of Columbia.
But generally when a property is sold as-is, that means the seller makes no warranties or representations about its condition and will not pay for repairs of even obvious defects, such as a wet basement or termite-gnawed floor joists. In Braitman's house, one whole side looked as if it were about to fall off, the kitchen was a wreck and plaster was crumbling everywhere.
For more click here!

Mary Ellen Slayter
The Washington Post

Utility Services

Electricity
Columbia Power & Water
PO Box 379
Columbia, TN 38402-0379
931-388-4833

Duck River Electric
605 S. James Campbell Boulevard
Columbia, TN 38401
931-388-3131

Middle TN Electric
2156 Edward Curd Lane
Franklin, TN 37064
615-794-3561

Nashville Electric Service
1214 Church Street
Nashville, TN 37203
615-734-6900

Gas
Nashville Gas Company
814 Church Street
Nashville, TN 37203
615-734-0665

ATMOS
SET UP SERVICE BY PHONE ONLY
888-824-3434

Cable Television
Charter Communications
2008 S. Main St.
Columbia, TN 38401
931-388-3550 or 800-972-5757

Comcast
6940 Mooreslane
Brentwood, TN 37027
615-244-5990
www.comcast.net

Water
Brentwood Water
5211 Maryland Way
Brentwood, TN 37027
615-371-0080

City of Franklin Water
City Hall Mall
Public Square,
Franklin, TN 37064
615-794-4572

City of Spring HIll Utility
PO Box 789
Spring Hill, TN 37174
931-486-2252

Columbia Power and Water
PO Box 379
Columbia, TN 38402
931-388-4833

Fairview Water
City Hall
Fairview, TN 37062

Harpeth Valley Utility District
PO Box 210319
Nashville, TN 37221
615-352-7076

HB & TS Utility Dist.
2000 Columbia Avenue
Franklin, TN 37064

Horton Hwy. Utility Dist.
Horton Highway
College Grove, TN 37046
615-364-2283

Mallory Valley Utility Dist.
7117 Crossroads Blvd.
Franklin, TN 37065
615-377-3374

Maury County Water
1018 South Garden St.
Columbia, TN 38401
931-381-8900

Metro Water
1700 Third Ave. North
Nashville, TN 37208
615-862-4600

Milcroften Utility District
6333 Arno Road
Franklin, TN 37064
615-794-5947

Nolensville-N/CG Utilities
2000 Johnson Industrial Blvd.
Nolensville, TN 37135
615-776-2511 or
615-776-2187

Telephone
Bellsouth/AT&T
712 Church Street
Nasvhille, TN 37201
615-557-6500
Outside TN: 888-757-6500

United Telephone Company
College Grove/Nolensville
PO Box 38
Chapel Hill, TN
931-364-2289