Sunday, April 28, 2013

Franklin TN short sale homes

A “short sale” is when you sell your house at a price that is lower than the balance you owe on your house.  Because the proceeds from the sale of your house falls short of the principle balance you owe the bank, it is referred to as a “Short Sale”.  This type of sale occurs when a homeowner cannot afford the mortgage payments and the value of the property drops so that the homeowner cannot refinance his home.  The Bank decides that selling the property at a loss is better than forcing you into foreclosure.
The Banks have loss mitigation departments that will look at each deal and decide if the bank will agree to a short sale.  Each Bank will have their own requirements for approving a short sale.  Typically a Bank will have the home appraised and based on that appraisal they will decide if it is better to have you sell the home for less than you owe or if they will make more money foreclosing on you and then selling the house themselves.

If the Bank does agree to the short sale you are still not out of the woods.  You will still be responsible for the difference between the short sale proceeds and the remaining balance of your mortgage unless you have it clearly stated in the agreement that you are not responsible for any remaining balances.   Even after you get the Bank to forgive the debt you sill have to deal with the Internal Revenue Service (IRS).  When you have any debt “forgiven” the IRS considers it to be income.  So while you are losing you house because you can’t afford to make the payments the government expects you to pay taxes on the gains you receive.  You should always ask a tax professional what the impact of the Short Sale will have on your personal income taxes since there are some exclusions that have recently been put into effect.

Hopefully, the goal of making the definitions of a Short Sale Simple has been achieved.  You should seek the services of a licensed real estate professional that specializes in Short Sales before you contact the bank.  These Professionals can negotiate with the Bank for you.   Also remember to consult with a tax specialist before signing any agreement.  by Mike Conrad

Franklin TN short sale agent

Saturday, April 27, 2013

short sale homes

We represent a number of short sale properties.  These can present a great opportunity for the right buyer.  Look to the right and you will see a number of short sale homes.  If you are an investor or looking for a great deal, a short sale, pre-foreclosure or foreclosure may be right for you.  Give me a call on 615.429.6785 or email me at and let's begin your search today.  We have Brentwood TN short sale homes, Franklin TN short sale homes, Williamson County short sale homes and Spring Hill TN short sale homes.  We also have Nashville short sale homes, Bellevue short sale homes and more short sale homes.
If you are already working with a REALTOR please be aware that all sales are subject to the seller's lender approval.  Buyer's Agent will receive between 1 - 3 percent cooperating compensation depending on final approval of the short sale by the lender.
by Mike Conrad

what is a short sale?

Wednesday, April 24, 2013

SilverPointe has highest avg. sales price!

in Middle Tennessee.  Wanting to get top dollar for your home?  Call me asap or email me.

Getting your home sold for Top Dollar in Brentwood TN, Franklin TN or Nashville TN

229 Heathstone Franklin TN 37069 home sold and closing this friday!

woo hoo!  another one about to go into the 2013 books.  The Franklin TN, Brentwood TN and Williamson County TN homes for sale market is red hot and homes are selling for at or very near list price, assuming they are in good shape and priced with some sense of reasonableness.   by Mike Conrad

Franklin TN homes for sale

Monday, April 22, 2013

Housing market sarts

"I'm always making a comeback but nobody ever tells me where I've been." Billie Holiday. And the evidence continues to show that the housing market is making a comeback. Read on for details and what they mean for home loan rates.

Housing Starts spiked by 7 percent in March to 1.036 million units on an annualized basis, well above the 930,000 expected. This was the largest rate since June 2008. In addition, Housing Starts were up a whopping 47 percent since the same period last year.

Building Permits, a sign of future construction, did decline by nearly 4 percent to 902,000. But overall, this was a strong report and further evidence of improvement in the housing sector.

In other news, the Labor Department reported that the Consumer Price Index (CPI) declined by 0.2 percent in March, showing that inflation at the consumer level remains tame. Weekly Initial Jobless Claims rose by 4,000 to 352,000, with no clear signs of any significant move lower as the labor market continues to muddle along with no meaningful growth. And in the manufacturing sector, the Empire Manufacturing Index was much weaker than expected, falling to 3.1 in April from 9.2 last month.

What does all of this mean for home loan rates? The Fed has noted that inflation remains in check and they expect this to continue for some time. The recent inflation and weak jobs data gives the Fed cover to continue its Bond purchase program known as Quantitative Easing, which should continue to benefit Bonds and home loan rates (since they are tied to Mortgage Bonds).

The bottom line is that home loan rates remain near historic lows and now is a great time to consider a home purchase or refinance. Let me know if I can answer any questions at all for you or your clients.

Forecast for the Week  

This week contains a full slate of important news from start to finish.
  • The housing market will be front and center the beginning of the week, with Existing Home Sales on Monday and New Home Sales on Tuesday.
  • We'll get a sense of how the economy is doing with Wednesday's Durable Goods Orders, which tracks orders on big ticket items used for an extended period of time, and Friday's 2013 Q1 Gross Domestic Product (First Estimate).
  • As usual Thursday brings us weekly Initial Jobless Claims.
  • We end the week with the Consumer Sentiment Index for April.
In addition, earnings season continues and the markets will be watching these reports closely for signs regarding whether our economy is improving.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond that home loan rates are based on.

When you see these Bond prices moving higher, it means home loan rates are improving -- and when they are moving lower, home loan rates are getting worse.

To go one step further -- a red "candle" means that MBS worsened during the day, while a green "candle" means MBS improved during the day. Depending on how dramatic the changes were on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.

As you can see in the chart below, Bonds and home loan rates remain near record best levels. I'll continue to monitor this closely.
Chart: Fannie Mae 3.0% Mortgage Bond (Friday Apr 19, 2013)
Japanese Candlestick Chart

The Mortgage Market Guide View...  

Five Ways to Get More Business From Your Website

Many small to midsize local businesses have ineffective websites and often still rely on traditional media to get leads and drum up new clients. But online search analysis company Chitika reports over 43 percent of all internet search queries are now local. Combine this with declining readership in print publications and Yellow Page use, and local businesses may be looking at a serious problem.

Here are five ways to make sure your website keeps up with the rapidly changing face of technology:

Go mobile. According to Google and Bing, over 50 percent of web searches made from a mobile device are local and yet 93.3 percent of local business websites are neither mobile compatible nor render correctly from most smartphones. Mobile compatibility is critical as customers will usually move on to the next site within a few seconds if they are required to "pinch and zoom" for information.

Be social. According to Marketecture, Inc., a company providing websites for small businesses, 80.5 percent of small businesses don't provide social media links on their website, even if they have a social media presence. Social media is potentially one of the largest sources of free traffic, so make sure your website communicates your presence there.

Answer quickly. Email is convenient, fast, and ubiquitous. Getting in touch with you should be the same. Make sure your website has contact information, including email, where it can be easily seen on every page of your website. The same is true for your phone number: make sure it's everywhere on your site and not just the Contact page.

Be a resource. If you don't have an "information request" form on your website, connected to both your email and CRM, you're missing out on a great avenue for leads. Make it easy for people to ask questions and receive quick answers, and you will always be rewarded with new business and stronger referrals.

SEO is essential. Woody Allen once quipped that 80 percent of success is just showing up. But if your website doesn't show up in search results, you're 100 percent out of the race. A significant source of customers can result from the traffic directed to you by search engine results. Search engine optimization (SEO) using proper keywords, site optimization, and link building are necessary to get search engine ranking. If you don't know how to do it yourself, it's worth hiring specialists.

Address these areas on your website and you'll capture a bigger share of local website traffic, improve your customer engagement and, of course, get more leads and new business coming in the door than ever before.

Please pass this along to any clients and colleagues who might benefit from these tips.
Economic Calendar for the Week of April 22 - April 26
Economic Report
Mon. April 22
Existing Home Sales

Tue. April 23
New Home Sales

Wed. April 24
Durable Goods Orders

Thu. April 25
Jobless Claims (Initial)

Fri. April 26
Gross Domestic Product (GDP)

Fri. April 26
Chain Deflator

Fri. April 26
Consumer Sentiment Index (UoM)


The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.

As your mortgage professional, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.

In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email:

If you prefer to send your removal request by mail the address is:

Craig Newby
License# 450444
Wells Fargo Home Mortgage

Thursday, April 18, 2013

HARP Extended

The Federal Housing Finance Agency (FHFA) has announced the extension of the Home Affordable Refinance Program (HARP) by two years to December 31, 2015Top Agent for Brentwood TN, Franklin TN and Nashville TN

Friday, April 12, 2013

Luxury Homes for Sale in Franklin TN

 Offerred at $1,079,995 this Franklin TN home for sale boasts approximately 6,000 sqft. with 6 bedrooms, 5 full baths and 2 half baths.Lusury homes for sale in Franklin TN                                               

Wednesday, April 10, 2013

Selling Homes in Sullivan Farms, Franklin TN

homes sold by Mike Conrad in Franklin TN

Franklin TN homes for sale

Franklin TN short sales

What is a Short Sale? A short sale is when the bank agrees to take less than what is owed on the mortgage to close on the sale of a home.(there are not fees to the seller)  A short sale is a common solution for people that owe more than their home is worth, can't afford the monthly payments or don't have the money to bring to closing to complete the sale of their home.   PLUS a lot of banks are now paying home owners as much as $5,000 to $30,000 for relocation costs if they maintain the home during the sale!  They pay this because it’s cheaper than the foreclosure process! 
(We are not licensed attorney's or CPA's so cannot advise on tax consequences but there is relief if you sell short, see Mortgage Forgiveness Debt Relief Act of 2007. The IRS could consider the loss as income but the tax act may forgive it!)


There is no cost to you and we will never ask you for any money at anytime!
The bank will pay our compensation for getting the property sold. At the same time we will look out for your interests and take the pain and confusion out of doing a short sale. We provide, at no cost to you, an ethical and professional solution. While it is possible to negotiate on your own most often the bank will want your property listed with a real estate professional.

I have done many short sales so we can guide you through the process. Many times it takes 60 - 90 days and hours of time spent on the phone tracking down the right people and processing the deal. You do not want to risk losing a buyer due to long processing times. (No money comes out of your pocket since the bank takes less than what is owed.)


Tuesday, April 9, 2013

Luxury Home Sales in Franklin TN

  • People who own million dollar + homes put on their pants the same way you do, one leg at a time.
  • People who live in million dollar + homes are mostly just like you. They are people too.
  • People who live in million dollar homes come in two types: those that are truly wealthy and those that are wannabees.
  • Truly wealthy people own a lot of books. All leaders are readers. Readers make more money than non readers.
  • People who live in million dollar+ homes are mostly entrepreneurs, own their own businesses or are in the executive sectors of companies.
  • People who live in million dollar + homes tend to be articulate in language, have a world knowledge, understand history and geography.
  • People who live in million dollar + homes are the most down to earth people we have ever been acquainted with.
  • People who are truly wealthy are NOT snobs. They are personable, interesting and caring.
  • People who live in million dollar + homes give a lot to charity and work in charity events often. Luxury Home Sales in Franklin TN

Monday, April 8, 2013

Luxury Homes in Franklin Tennessee, Luxury homes for sale in Franklin TN

Interesting luxury home market here in Franklin TN.  I have been selling real estate full time here in Williamson County TN since 2005.  I am a licensed TN Broker.

The market for luxury homes is making something of a come back, but the mega expensive homes are still languishing a bit.  What we did see last year was a couple of high profile folks move to the area and overpaid for their homes.  That sparked, in my opinion, a false indicator of overall high end market health for luxury homes in Franklin TN.

here are some of the more expensive homes in the area.  One of the things, again my opinion, that get some seller's in trouble with overpricing their homes is what value the put on the land.  in most cases they grossly over value acreage.

Give me a call or send me an email if your are interested in buying or selling a luxury home in Franklin TNBuying or Selling a Luxury Home in Franklin TN