Sherri Welborn - Murefreesboro TN Real Estate

Map of Murfreesboro, Tennessee

Experts Agree that NOW is the Time to Buy a Murfreesboro TN Home

Sherri Wellborn — Thu, 15 Dec 2011 15:47:32 +0000

The jury is in and financial experts across the nation are saying to invest in real estate and BUY A HOME NOW!

Trulia – Rent vs. Buy Index – Trulia has rated Murfreesboro TN as an area where it is better to BUY vs. RENT!
FORBES MAGAZINE - Their analogy shows that Murfreesboro TN home buyers do better off with housing expenses than renters!
CBS Money Magazine - Their position is RIGHT NOW is a GREAT Time to Buy a Home!
CNN Money – Rent vs. Buy? No doubt about it! Even CNN Money Magazine says buying WINS big over renting!

Fear is keeping Some Potential Buyers from Moving Forward

Despise these reports and opinions from financial experts, fear is keeping some potential buyers from moving forward on purchasing a Murfreesboro home. Some have legitimate concerns about employment, the future of the economy, the commitment of a mortgage, and also scared home prices will continue to drop.

When fear stops us from doing things we need to look at each individual concern and determine if they have any validity. Most of these fears that home buyers experience are nothing more than false beliefs.

The monthly budget for almost all households simply must include housing expenses. Whether we decide to rent or buy we must live somewhere! The Murfreesboro real estate market favors buying over renting. The monthly housing expenses are significantly lower if you own your own home instead of renting in Murfreesboro.

CNN Money Magazine uses a Formula to Calculate the Cost to Rent vs. Buy

CNN Money Magazine indicates that if the formula returns a number of 15 or below then it makes more sense to buy instead of rent. The formula takes calculates the sales price of a home and divides it by the estimated yearly rent for a comparable home.

In Murfreesboro, the rate on comparable homes in most portions of the city run 10! This is much lower than the 15 which is used as a benchmark for determining whether to rent or buy. You can see examples of this formula being used in my posts about the Murfreesboro TN Real Estate Market Recovery and The Golden Era of Homeownership.

MY top Reasons Why You should Buy a Murfreesboro home!

You will NEVER be debt free if you rent! Renters will always pay a monthly housing expense, which is DEBT! The real estate market may go up or down, but homeowners will ultimately own their own home free and clear and be debt free.
Your monthly housing expense will be LOWER!
You have no worries over future rent increases.
You have a locked in payment and control over your housing expenses! The threat of rising home prices or increasing mortgage rates are eliminated.

Don’t miss out on the Golden Era of Homeownership because of false beliefs! When you are ready to begin the journey to find your new home, please contact Sherri Wellborn.

Murfreesboro Tennessee Realtor®

Sherri Wellborn

Keller Williams Realty

615-566-3789 Cell

Map of Murfreesboro, Tennessee

Murfreesboro TN Homes Provide Stability and a Solid Investment

Sherri Wellborn — Thu, 15 Dec 2011 15:13:02 +0000

Most individuals purchase a house in Murfreesboro to live in that will become their home and not necessarily as an investment vehicle. Although the market appears to be great for long term gains on home purchases, the argument to buy NOW is even greater when what you are truly searching for is a home.

Murfreesboro Real Estate is a Solid Investment

Many experts are suggesting that right now Murfreesboro TN real estate is a great investment in a retirement plan. Expected returns on homes purchased as investments today that are sold in ten years are expected to have greater returns than the projected returns on investments made in stocks and bonds.

As with any investment, there is no guarantee that the prices of homes will increase in the future. But, even the money experts who are usually nay-sayers agree that the current real estate market does look good for real estate investors.

We have no way to know for sure that the future holds for the Murfreesboro TN real estate market. However, I strongly believe that our market has stabilized and the home prices are beginning to trend up. I anticipate Murfreesboro TN homes to sell for a higher sales price in the upcoming year and will continue to go higher as the economy recovers.

Purchasing a Murfreesboro TN Home

Keep in mind that even IF prices were to drop slightly, this isn’t a huge factor if you are purchasing a Murfresboro home to live in for several years. The monthly housing expenses are lower when you purchase a Murfreesboro TN home over renting a comparable home.

The current real estate market is considered to be historical! The National Association of Realtor has dubbed this the Golden Era of Homeownership! Prices have never been more affordable and we are at an all time high on the home affordability rate! Home buyers are finding some amazing Murfreesboro Tennessee homes for sale deals. However, inventory is really beginning to drop which is causing prices to trend up.

In addition to historical levels for home affordability, mortgage rates are low. In fact, they are at historically low rates too! When you add historically low home prices with historically low mortgage rates, you create the perfect storm and the ultimate opportunity for individuals and families to purchase a new home.

Murfreesboro Real Estate market

The Murfreesboro Real Estate market is definitely changing! While the market is still favoring buyers, the inventory of homes is continuing to drop which is tilting the market toward individuals thinking of selling their home! Many home buyers are looking for homes and waiting for the right home to come on the market Less supply and more demand means home prices will continue to trend up.

History tells us that homes will appreciate in value over time. Murfreesboro TN homes have taken a drop in value, but now appear to be moving up. By purchasing a home now, you will take advantage of less competition, historically low home prices, and lock in a historically low fixed rate payment. Not only will you secure a great potential investment vehicle, but you will secure a place to call home.

A comfortable home provides a great source of happiness for you and your family!

A knowledgeable Realtor® can alleviate much of the stress associated with buying. Select a Murfressboro TN Realtor® who can help you with understanding market statistics, pricing trends, inventory of homes and rate of absorption. Together you can use this information to make a wise investment & financially solid decision.

It’s always a great time to purchase a house in Murfreesboro that you love and will call home! If you are ready to buy or thinking about selling a Murfreesboro TN home, please contact me and let me help you use the proven power of technology to get the results YOU want!

Murfreesboro Tennessee Realtor®

Sherri Wellborn

Keller Williams Realty

615-566-3789 Cell

Map of Murfreesboro, Tennessee

Worried about Forclosure on Your Murfreesboro Home? I can Help

Sherri Wellborn — Thu, 15 Dec 2011 14:49:07 +0000

It can be a startling realization for some homeowners when they finally accept that they are underwater in their home. The Murfreesboro real estate market has shifted and reality is setting in for some homeowners. Homeowners that are facing hardships such as a job loss, divorce, illness, or relocation may find themselves with a mortgage payment they can no longer make.

To complicate matters, they often feel trapped when they discover they are not able to sell their home because it is worth less than they owe. Unable to make monthly payments and unable to sell, some homeowners feel like they are out of options.

Sadly, many homeowners ultimately face foreclosure after months of struggling to make their payments, slowly falling behind on their obligations, and failed attempts at selling their home for an amount that will allow them to pay off their lender.

Short Sale – Alternative to Foreclosure

There is an alternative t foreclosure! All is not lost for homeowners underwater and out of cash. The answer may be a “short sale.” A short sale is when a mortgage holder accepts less than full payoff to release its lien to accommodate a sale. The lender does not report this as a foreclosure to the credit bureau.

A foreclosure will remain on your credit report for 7 – 10 years and will lower credit scores by an average of 100 points. You will be unable to purchase a new home if your home goes into foreclosure for at least 5 years! A short sale is much easier on your credit score and may lower your score by an average of only 45 points. Even if you are behind on your payments, you can qualify to purchase another home within two years or less when you execute a short sale.

Although some people believe that you must be behind on your mortgage to qualify for a short sale, this information is false! You can be current on your monthly mortgage payment and STILL quality for a short sale. A huge benefit to keeping your payments current and executing a short sale is purchasing power for a new home!

If you are able to make your payments and have not fallen behind more than 30 days, and your lender doesn’t require you to sign a promissory note for the balance, Fannie Mae lending guidelines may allow you to purchase another home immediately.

If you feel trapped in your home and are afraid of facing foreclosure, I can help! I have a sincere passion to help homeowners through this challenging time. By working together we can stop foreclosure on your home! If you have questions about a short sale or stopping foreclosure on your home, please contact me.

Murfreesboro Tennessee Short Sale Expert

Sherri Wellborn

Keller Williams Realty

615-566-3789 Cell

Map of Murfresboro, Tennessee