Murfreesboro Information and Resources

If you need to sell for some reason—such as a job transfer or because you can’t afford your monthly payments—it doesn’t really matter whether or not it’s a good time to sell.  If your life dictates that you must sell, then it is important that you are realistic about what this market will (and will not) bring for your home.

Recognize that we have just come out of one of the best sellers’ markets in history.  If you’re determined to wait to sell your home until the market returns to 2005-06 levels, you may be waiting for a long time.  After more than a decade of positive home value growth many homeowners have mistakenly concluded that it is their birthright to always sell a property for more than they paid for it.  The truth is that, just like the stock market, the real estate market ebbs and flows with values rising and falling short-term while usually trending upward long-term. 

The good news is that we are now in one of the best buyers’ markets in history.  That means people who are selling in order to buy another home are really in a strong position.  The key is to look at the sale and purchase as one big transaction instead of viewing them as two separate ones.  The odds are that any hit you take on your sale can be more than made up with the great savings you will have when you buy a home. 

In this edition of Tuesday Morning Coffee John gets off real estate and presents some inspiration via a model for success from Gary Keller, owner of Keller Williams Realty. This theory can be applied to any aspect of your life to improve whatever it may be you'd like to get better at. Hope you enjoy. As always we welcome your comments and/or suggestions for future topics for Tuesday Morning Coffee. If you have have any questions about real estate let us know! You can also view Tuesday Morning Coffee in HD via Facebook at http://www.facebook.com/TuesdayMorningCoffee

Low appraisals can become a big issue in a flat or declining real estate market. At this point, you really have three options:

1. Accept less for your home, allowing the buyer to qualify for his loan based on the lower appraisal;
2. Ask the buyer to put down more cash to cover the difference between the purchase price and the low appraisal - This is unlikely to happen in a Buyers' Market;
3. Cancel the transactions. However, keep in mind that an FHA or VA appraisal will remain with your house for six months. If your next buyer has FHA financing, you will run into the same appraisal problem.

Of course, the best option is to look closely at the value of comparable sales in your neighborhood before you even put your home on the market. These days we have to sell almost every home twice - first to the buyer and secondly to the appraiser. If you're honest with yourself about how your home compares to others that have recently sole, it will allow you to either price the house so the appraisal won't be a problem or at least be prepared up front for the possibility of a low appraisal.

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In this edition of Tuesday Morning Coffee John addresses the "We buy homes" or "Cash for your home" schemes that seem to have overtaken so many street corners in recent months. What are these people really out to accomplish and what can you do avoid being mislead when dealing with one of these companies.

Have a real estate question you'd like answered on Tuesday Morning Coffee? Let us know or feel free to join in the conversation here. Just click on the post title and sumbit your comments.

This week John delves into credit scores. Covering everything from where you can get a free credit report on the web in a safe and secure environment to how your credit score is viewed by mortgage companies and other loan institutions, John presents a simple, to-the-point view of what makes up your credit score.

Real estate expert and Murfreesboro native John Jones discusses flipping houses, investing in real estate, avoiding overpaying when buying a home, Harvest Woods subdivision, mortgage rates, and the economy with David Letterman on The Late Show.

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John delivers this episode of Tuesday Morning Coffee from the comfort of his home in Murfreesboro. Perhaps a little more relaxed in his new found "old age" and wisdom after turning 40 last week.

Spring seems to have brought with it a short continuance of the great mortgage rates we've been hearing so much about. Still fluctuating around the 5% mark. Here's John Jones with the story!