Reverse mortgages are a plus when a homeowner is faced with the decision to either sell their home to get money to live or live in the home and have money, while the asset is increasing in value.

If a homeowner has significant equity in a home, a reverse mortgage might be the answer.

How the loan works:

Based on the home’s value, the lender makes payments to the borrower as monthly income, a lump sum of cash or a line of credit; borrower retains ownership; no repayment until the homeowner dies or sells the home.

Qualifications:

Homeowners must be at least 62 years old and live in the home or condo as their primary residence.

Income taxes and Social Security:

Proceeds considered loans, not income; they are not subject to income tax and do not affect Social Security benefits.

Interpretation of the Real Estate Sales

Knowing the numbers is helpful, but to really understand what is happening in your neighborhood, its necessary to have more information. If you are a long distance Nashville home-owner and would like to know what’s going on in your area, call us. We can help you understand today’s market and if its a good time for you to sell your investment property.

Just want “The Facts?”

Certainly, we can help with that too. If you would like to be added to our newsletter mailing list drop me a line. (Debbie@mylifestylesrealty.com) Please be advised, I won’t send you recipes, just the cold hard Nashville real estate facts, via email. If you want additional information, call us  615-373-4350…

Renting property and property management?

Sorry, we don’t do rentals. We prefer to refer property management to the professionals that do it well. Our specialty is SELLING real estate and we don’t do anything that would be a CONFLICT of interest to that. So if you have a rental you want managed, we can only point you in the right direction.

Values must always take in to consideration both history and current market. Additionally locations and condition of improvements are strong factors. So if the house next door is exactly like yours its reasonable to expect your value is similar.

If you are thinking of selling your home soon or in the near future, call us. We can provide a Comparative Market Analysis and a Net Sheet of your expected proceeds.

Use the following suggestions as a guideline to help:

Post Office: Change forwarding address online, click here!

Charge Accounts, Credit Cards

Subscriptions: Notice usually requires several weeks

Friends and Relatives

Arrange:

Bank: Transfer funds, arrange check-cashing in new city

Insurance: Notify new location for coverage: Life, health, fire, auto.

Automobile registration: Transfer of car title registration is necessary; also driver’s license; emissions test; motor club membership.

Utility Companies: Gas, light, water, telephone, perhaps fuel; get refund of any deposits made; arrange for immediate service in new town.

Route Services: Laundry, paper, mild delivery, changeover of services

School Records; Ask for copies of transfer of children’s records.

Medical, Dental; Ask Doctor and Dentist for referrals; transfer needed

Prescription Histories prescriptions, eyeglasses, x-rays.

Church Club: Transfer memberships, get letter of introduction.

Pets: Ask about regulations for licenses, vaccinations, tags, etc.

Don’t forget to:

Empty freezer, plan use of foods

Defrost freezer-refrigerator, Place charcoal to dispel odors

Have appliances serviced for moving

Obtain birth records and baptism records of all children

Clean rugs or clothing before moving; have them moving wrapped

Check with your Moving Counselor regarding insurance coverage, packing and unpacking labor, arrival day, various shipping papers, method and tie of expected payment

Plan for special care needs of infants.

And on moving day…

Carry currency, jewelry, documents yourself; or use registered mail.

Plan for transporting pets; they are poor traveling companions if unhappy

Carry traveler’s checks for quick available funds.

Let close friend or relative know route and schedule you will travel, including overnight stops; use as a message headquarters.

Double check closets, drawers, shelves to be sure they are empty.

Leave all old keys needed by new tenant or owner with agent or Realtor.

These deficiencies can be easily detected by homeowners and corrected prior to the inspector’s arrival.

The following is a list of the most commonly found deficiencies in a home.

Use it to your advantage and avoid unnecessary stress!

Peeling paint anywhere on premises-lead base precaution (mandatory on pre-1978 construction)

Broken/cracked glass

Missing/loose safety handrails on stairways or loose/damaged/missing safety railing on decks or retainer walls over 30″ high.

No vents to crawlspace or attic: no or inadequate access to these areas. (Have them readily accessible for appraiser).

No vent fan/or window in bathroom. (Usually found in additions or basements).

Iron security windows grates that do not swing-out for emergency exit.

Marginal safety appearance of electrical/plumbing/heating.

Debris-such as broken glass, garbage, old paint, oil, anti-freeze, batteries, cans, piled brush, etc. (usually found in crawlspaces, yard areas, behind garage, or on back 40!)

Major electrical power lines too close to dwelling/garage.

Loose/damaged floor covering and walks or driveways (Upheaval/settlement) that could cause injury by falling. (Local building codes preside, however, over 2″ is likely dangerous).

Accelerated Deterioration of Improvements

Paint/stain peeling to bare surface; missing or damaged gutters or down spouts where drainage is marginally away from improvements; leaking plumbing or bath/shower tiles missing or damaged; holes against foundation that may allow water penetration (usually from pets); landscape drainage toward the improvements; missing/damaged/curling roof shingles or covering; free standing water or dampness is frequently evidence of poor drainage, leaking water pipes, or high water tables (seasonally)- May need electric sump pump; structural damage from any cause-usually expansive soils, poor drainage, or the combination.

The appearance/existence of one or more of the above items may cause an inspector requirement which, in turn, creates more expense and time delays. Solving these potential problems in advance will save both time and money plus enhance your property value.

For Sale By Owners certainly deserve credit for giving it a good try, but if you didn’t succeed, you can pat yourself on the back, because you are not alone. Statistics show For Sale By Owner sales are dropping, despite all the access to internet lists, etc.

Hiring a Realtor saves both time and money

According to the 2003 National Association of Realtors “Profile of Home Buyers and Sellers, The typical FSBO home sold for $145,000, compared to $175,000 for a salesperson-assisted home. This means even if a FSBO pays a 6% commission, they will realize $164,500. These statistics are National averages. The same proportions hold true in the Denver metro area.

Just Who are you opening Your door too?

These times are full of easy conveniences and along with these conveniences come a new set of worries. As  Realtors, we are always confirming the identity of who we are working with. If they don’t share with us, we don’t work with them. I’m not so sure a FSBO thinks of these issues when they open their door to any stranger who calls them. True, not all home shoppers are folks to be wary of, but then how can one tell who is and who isn’t?

As  Realtors we filter out the dreamers and time wasters.

Buyers are not always buyers, sometimes they are wishfully thinking without any consideration for you or your time. FSBO’s are easy prey for these Wishful Thinkers, because they don’t ask the right questions. As  professionals, we don’t put people in our car (nor do most other good Realtors) until they have proven themselves to be qualified, ready, willing and able to purchase a home.

It takes a whole company to do this job…

As any experienced FSBO will attest, its not an easy job to sell your own home. After keeping track of the time spent (away from doing the things you want to do) and the amount of money it takes to get the home ready to market it, plus taking into account any false starts and anxious days on end waiting for a decision, a FSBO would be better off delegating the job to those who do it all the time. Putting your home into “the system” is cost effective and safer.


Keeping in touch with both your agent and current market trends is oh so important when trying to stand out in the crowded Nashville real estate market.

Now that your listing has expired, it may be time for some new insight and a change of scenery in your yard. Call us, We love selling expired listings. We work harder to because we love succeeding when others have failed to get the job done!

Call us, we welcome your call…

Solution: Delegate duties to a professional.

As  Realtors, We can help you meet your obligation in a variety of ways. Through the course of business, We have reliable contacts to assist you in general maintenance and repair, liquidation of personal property and property enhancement.

Our experience in handling all types of real estate sales qualifies us to help you fulfill your final obligation with a sense of honor and pride. You will be able to live up to the trust that was bestowed upon you, without faltering under the weight of what needs to be done.

Out of the area?

If you are not living near the real estate that needs to be sold, do not worry. Much of the work we do these days is done long distance. It is not uncommon to never meet the seller of a property. We can manage the process over the telephone, fax and email. If you need photos of the property, we can send you a comprehensive collection of the real estate along with the issues needing to be addressed. From this we can formulate a plan to sell the property "as is" or get bids to repair it. In any event we, like you, have a fiduciary to act in your best interest. You can be assured we will treat that responsibility with the utmost respect. It’s our job.

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