Avoid These Mortgage Mistakes During Your House Hunt


If you're looking to buy a house, you'll want to avoid these four mistakes when it comes to your financing.

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When you're shopping for a home, there are four mortgage mistakes you should try to avoid: 1. Thinking the advertised you see is the rate you'll get: The advertised rate will be that company's lowest possible rate. In reality, many things go into determining the rate you'll get, like your credit score.

2. Not comparing lenders: There are plenty of ways to compare lenders and their rates these days. You also want to compare their closing costs, especially in an area like Clarksville where you might ask the seller to pay some closing costs.

3. Waiting for a better rate: If you wait for rates to drop in an active market like ours with prices going up, you might end up paying more for the house itself, even if the rate goes down. In many cases, it could actually cost you more money if you wait.

4. Choosing the wrong type of loan: For example, many people think that since we're in a VA market, they should automatically choose a VA loan. However, it all depends on what else you plan to do with the the financing. One big thing to consider in this situation is how much money you're putting down.



Waiting for a lower interest rate could mean paying more for the house itself.



We can provide more details and advice on any of these points if you have any other questions. Just give us a call or send us an email. We're happy to help!

How Much Do You Need for a Down Payment?


How much money do you need to put down when you purchase a home? Contrary to popular belief, you don’t necessarily need to have 20% down.

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How much money do you need for your down payment? Clarksville is a military town, so many of our residents are eligible for VA loans and can get a house for no money down. If you do not qualify for a VA loan, there are still many loan programs that can get you into a house for less than 20% down. Depending on your credit score, you can get a conventional loan with 5% down. If you qualify for an FHA loan, then you only need 3% down.



Depending on your credit score, you can get a conventional loan for 5%.



We also have local programs where the seller can pay most of the closing costs for you and you won’t have too much of a down payment. 

If you have any questions about your down payment or if you want to know more about buying a home, give me a call or send me an email. I would be happy to help you!

The Latest Stats From Our Hot Clarksville Market


Here are some of the latest stats from our Clarksville market and how we stand compared to where we were at this time last year.

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We have a hot market here in Clarksville, and today I have the stats to prove it. To give you an update on where we stand, I’ve compared the latest market figures to the same figures from March of last year. In March 2016, we had about 1,400 houses on the market for sale. Right now, we have about 1,100 houses on the market for sale. At this time last year, our number of year-to-date home sales was 827. This year, we’ve closed 834 houses so far. That’s not much difference, but it shows that we had a great market last year as well. Our average list price increased 6.4% from $164,000 in March 2016 to $174,600 in March 2017. Our average sales price increased 6.81% from $161,500 in March 2016 to $172,500 in March 2017. In that same time frame, our average days on market dropped from 101 to 91. As you can see, prices are going up in Clarksville, so it’s a great time to put your home on the market.



The market’s been busy since January, and it continues that way.



Something else we’ve started tracking lately is the most active price ranges, and right now the most active price range is between $140,000 and $180,000. There are 207 houses on the market within this price range, and about 25% of those houses have been sold already. 

The next hottest range is $180,000 to $240,000, which represents about 24% of the market. The third hottest range is the $100,000 to $140,000 area. You might not think it, but you can get a nice house for $100,000 in Clarksville. 

If you have any questions about our market or you’re looking to buy or sell a home, please don’t hesitate to reach out to me. I would be happy to help you.

3 Options for Managing Your Investment Property


When it comes to managing an investment property, you basically have three options. Today, I'll explain the major advantages of these three options.

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There are three things you should look for in managing an investment property. Should you manage the investment property yourself or use a property management company? You can manage the property by yourself, but let me tell you, it takes a lot of time. Make sure you have both the temperament and time if you plan to do it on your own. So what about hiring a property management company? The great thing about hiring a company is that they know property management laws and tenant-owner relationships. They can manage security deposits (which have to be managed in a certain way) and can take care of credit reports and evictions if they need to.



Property management companies can handle deposits, credit checks, and evictions.



You can also hire individual property managers. If you work with an individual property manager, check their references to make sure it's not the first time they've managed property. 

If you have any questions about the best way to manage an investment property, give me a call or send me an email. I'd be happy to help!

Use These 3 Steps to Ensure a Smooth Home Purchase


If you’re thinking about buying your first home in 2017, make sure you do these three things first.

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If you’re looking to buy your first home in 2017, there are a few steps you should take in preparation. I’ll go over those today. First, you need to hire the right real estate agent. You might run into some uncomfortable situations if you work with a family member or a friend, so I recommend choosing an experienced agent who’s only objective is to represent your home purchase. Also, an experienced agent can help you find homes that might not even be listed on the market. Furthermore, the right agent is going to be able to negotiate in your favor to ensure you get the best deal on a home. Second, don’t be afraid to talk to multiple lenders. Some lenders’ rates might be better than others, or they might match each other. Either way, talking to multiple lenders can only benefit you. Also, if you are going to get a VA loan, make sure the lender you choose is experienced in dealing with that specific type of loan.



The right agent is going to be able to negotiate in your favor to ensure you get the best deal on a home.


Last but not least, mind your credit. Credit scores are incredibly important because a lender is going to base the interest rate you get for your mortgage off them. There are also going to be credit checks when you go to put insurance on your home. 

There are a few other tips, so if you would like to hear about them or if you have any other real estate related questions, feel free to give me a call or send me an email. I would be more than happy to help.

How Did the 2016 Clarksville Real Estate Market Do?


How did the 2016 real estate market stack up against 2015? What can buyers and sellers expect from our current market? I’ll go over everything you need to know today.

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What’s going on in the Clarksville real estate market? Today, we’ll take a look at how the market did in 2016 compared to 2015. 2016 was a great year for real estate; everything has increased since 2015, and 2017 is already off to a great start! In 2015, 3,580 properties closed. In 2016, 4,221 properties closed, which is a 17.9% increase. The average listing price also went up. In 2015, the listing price was $171,500, and in 2016, it increased 2.6% to $175,900. So, what did homes actually sell for in 2016? In 2015, the average sales price was $168,700; in 2016, it went up 3.62% to $174,800. That is great news because our market has been flat for the last couple of years. Now, it’s finally starting to go up.



Our market is finally starting to go up.


The average days on market in 2015 was 92, which dropped to 86 days on market in 2016. 

What do all of these numbers mean for you? 

If you’ve been thinking about selling, now is a great time to get on the market. Houses that are priced correctly and in good condition are selling really fast. 

As for buyers, interest rates have gone up and the market is increasing, so the longer you wait, the more likely it is that you will get less house for more money.

If you have any other questions about the real estate market or about selling your home, give me a call or send me an email. I would be happy to help you!

3 Questions You Should Ask Before Hiring a Realtor


Selling your home goes a lot more smoothly with a Realtor at your side. However, make sure you hire the right one by asking these three questions.

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Entering the real estate market without a Realtor to represent you is very risky, but you don’t want to hire just anyone. There are many questions you should ask before hiring a real estate agent, and these are the top three: 1. How long have you been in the business? There are so many different factors that come into play when getting your sale to closing. You want to make sure they have experience to handle every aspect of the sale and make sure the closing process goes smoothly. 2. What is your list-to-sales price ratio? You want to make sure they are selling homes for something close to what they listed them at initially on a consistent basis. 3. How many houses did you sell last year? Knowing your agent is active in the market is key. Someone who has 30 years of experience but only sold two houses last year is not going to be the right fit to sell your home.



Make sure your agent has enough experience.


There are many more questions you should be asking, so if you’d like to talk to me about those or have any other questions, please feel free to give me a call or send me an email. I look forward to hearing from you!