Ray Carman – Auctioneer

Much like the song “The Gambler,” it is important to know when to act or not to act in Real Estate. We all know we are currently in what is known as a “Buyers Market.” Yet time and again, some people are trying to make a move when it is not the right time for them. As homeowners, sometimes we just get the “itch” to move or get a new home. With prices on other houses seemingly so great due to foreclosures and Short Sales, some folks think NOW is the time to move.  But the problem comes in the fact they want “sellers market” prices for their homes. So what is the key to avoiding this situation?

Knowing when to Hold Up!!!! Simple as that. Here are some things to think about.

1. What is the reason for trying to sell my home in a buyers market?

2. Do I HAVE to sell, or do I just have an “itch” to sell and make a change?

3.  Am I willing to take present market value for my home, or would I rather ride out the storm till I can make a profit on my investment?

4. Would I be better off to sell and buy or simply Re-fi with the low rates?

Using good common sense in todays market is HUGE if you want to make the right move. Unless you HAVE to sell or can afford to take a hit in your investment of your homes value, then it might be a good idea to ignore that restless itch and stay put till the market swings back in your favor. This might sound like strange advise from a Realtor, but if your best interest are in mind, it might be the best thing you could hear from a Real Estate professional.

For a free analysis of your situation here in Sumner and surrounding counties, and ideas on what makes the most sense for your current situation, give us a call at 824-0044!

I received an email recently from a friend who wanted to know if there were some good deals on just land for investment purposes around Sumner County. As a Realtor, it is easy to find a piece of investment land for a buyer, but, the question in this present market is, “When to invest?”

I am not a person who knows much about the Wall Street Market, but simply listening in anyone can learn the key rule. Know when to buy and know when to sell. It is eerily similar to that old song by Kenny Rogers , “The Gambler.”  You got to know when to hold them, and know when to fold them.

The key right now is to know your investment strategy and plan. Know exactly what your intentions are. Knowing this will be the key element in knowing when to strike gold in your Real Estate investment strategy.

NOW is definitely a time to buy. With foreclosures and over building, prices on homes are reducing, and will continue to do so for awhile. Land has been slower to follow suit, however, in weeks to come, there will be good opportunities to buy on the down side of pricing in the market. BUT, you need to keep a very sharp eye on the situation. Have someone you trust guide you into the perfect timing for your particular situation. Because, as in any investment, it will be extremely important to “make hay while there is hay to be made!”

If you are looking to move money into the security of Real Estate Investing, align yourself with a professional who can help you make your move at the right time.

Ray Carman

Auction lovers! As the winds of winter pass through, the auctions are once again picking up here in Sumner and surrounding counties! We have already seen bookings on into the late spring early summer! If you are thinking of having an auction, or know of a family in need of an auctioneer (estates, farm, equipment, commercial, etc), now is the perfect time to have them give us a call and get their date set for this year! With interest rates low, and the warmer winds of Spring about to arrive, it is a perfect time to talk to your auction experts! 615-428-4920

On Valentines Day, Saturday, Feb 14th, at 10 AM, Gene Carman the 3rd (my brother) will be hosting a sale along with my Grand Father, Gene Carman, in Gallatin. A local Woodworking shop is closing their doors and are selling all sorts of tools, large wood working equipment, a trailer, office equipment, and more. Their decision to close the doors is an opportunity for you to get some amazing deals on equipment or to go into business for yourself. For more info, call “Little Gene” at 615-633-1323!

Then, on Wed, Feb 18th, at 12 Noon, Furrow Auction Co will be in Portland offering a foreclosure property. This brick house and lot is located at 755 College Street, Portland TN! The securing party has said to move this property! This would make a great opportunity for a first time buyer or investor!

Enjoy these great opportunities that are coming your way! I hope to see you there.

Remember, if you are considering an auction, or know someone who is, please have them give me a call, 615-428-4920!

Ray Carman – Auctioneer / Auction Specialist!
on Twitter @TNAuctioneer or on Facebook here!

I was reading a friends take on the financial world today, and he made an attempt at predicting the future. Prior to doing so, he quoted someone as saying, “forecasting the future is basically us telling you what we think will happen, then explaining why it did not.” With that in mind, I will tell you what I see happening in our Real Estate future.

To have somewhat of a grasp on what is ahead, we must first understand what is behind. We have seen in our nations history, several “real estate” bubbles that have come and gone. Prices have risen and then due to some financial “crisis,” prices have dropped and people have endured tough times. BUT, the nation has always found a way to survive again.

Bringing tha down on a personal level here in Sumner County. We have seen unprecedented growth in this area both comercially and residetially. And contrary to what some have said, this growth is still going and growing. IN the wake, some smaller contractors have found themselves on the wrong end of the housing “slump”, and banks have become home owners and/or the determining factor in what houses bring in newer subdivisions. Prices increased drastically from 2000 to 2006, allowing builders nad homeowners to experience tremendous growth in their homes/property value. Many cashed in on this market and moved “up” to a better life on larger/newer homes. People with no money and no crdeit were able to borrow money to buy homes wothout even a check into their credit history or job situations. Prices grew, buyer bought, people enojyed greater lifestyles than they ever could imagine.

Then, a little ripple started making its way across the country, from west to north, south to east, as 3 yr ARM mortgages that were interest only, or low interest, started coming due for renewal, and the lenders had retracted their willingness to lend money for interest only. People in 500k homes paying a small interest only payment found themselves owing double the interest and a principle payment as well. Thus, the “bubble” started to “crack” and homes began to end up in bankers hands.

For a short while, this played well for investors who were picking up homes at reduced prices in hopes of making some good returns. But eventually, this played out as well when the numbers of available homes began to swell as more and more people found themselves unable to pay. This left a few investors clamouring for buyers and dropping prices to unload a overstuffed porfolio of investment homes.

Sumner County did not really feel this surge until late 2007, as some of the larger homes in the area that had been built over the past fives years began to show up on the foreclosure map. This in turn began to affect the sale of new construction homes, as the subprime lending market began to fold.  Investors on Wall Street saw the bubble starting to unravel, even announcing it in emails to each other saying things like, “lets hope we have all made our money and found our way out before this all comes apart.” (quoted from an interview on 60 minutes last night.)

This was only the tip of the iceberg, as news reports started coming from CA, showing medium income individuals who had taken advantage of “no money down, no credit, no problem, just sign here” lending, and now they were in tents in large fields, living on all they had left, tarps and tents, struggling for their next meal. People here in Middle TN began to really understand the enormity of this only in the Spring of this year as more and more homes found themselves in the hands of banks, from new construction to first time buyer homes. And as banks found their inventory rising, they started to package and unload homes at drastically reduced prices. (see Michigan, banks selling houses in lots of 8 to ten to investors at pennies on the dollar).

All this and now we stand in an election year, with two unproven tickets vying for leadership of a ship that seems to have major cracks in the hull. How will this fair out for our local Real Estate Market.

Despite all the bad news, here is the truth. Houses and property are still selling. The rate at which they were moving has come to a crawl (from 30 or more a day to 10 on a good day), but they ARE still moving. As the election draws nearer, we can expect it to slow even more, as people watch the bailout plan and the election in progress. And, I believe, irregardless of who wins, our market will see a surge in 2009, as hopes for a brighter future emerge under a new leader. There will be a bubble to hit, and if hit timely, could see some folk out of the “crisis” they are in personally as they struggle to pay a mortgage or have a readjustment hitting them soon. We will see rising confidence in a market place and life apparently getting back to normal. And, depending on who wins the election, we will see how long this bubble last before reality sits in on choices made by former presidents dating back to the early 90’s.

All that said, it is imperative that we watch carefully for this “bubble” of hope to rise, and move with precision and accuracy to see your aspirations come to fruition in the Real Estate market. It is imperative you seek out wise council for your decisions you are making and have proper pricing and strategies for your real estate needs. This next surge will be very important to hit in a timely fashion.

So whether Real Estate private treaty or an Auction, be sure you seek out someone with your needs and desires at the top of their Priority list. If we can be of assistance in any way, we would love to hear from you. Priority One Real Estate and Auction, Ray Carman (broker/auctioneer/owner), 824-0044.

But not in a list we want to be known for. Foreclosures!

RealtyTrac Inc, one of the nations foremost authority in foreclosure data put out this report on national foreclosures last month. Tennessee ranked tenth in the nation in the month of February.

I have been watching our states foreclosure very closely, and I will presume that this report is spot on. We have had a tremendous amount of foreclosures in the past few months. BUT, there needs to be some further looking into the issue. From the research I have done, nearly 50%, if not more, of these foreclosures have been in Shelby County (Memphis).  We have seen a fair share of them come through this area, but nothing like what Memphis is enduring right now.

If you would like to check in on foreclosures, you can sign up for RealtyTracs feed, or go to Hotpads.com

about the governments Foreclosure Bailout Bill?

Here is what one person thinks.

Help your neighbor!

What a concept! First you need to know your neighbor enough to know they need help. Maybe todays market is a great boost to get in touch with the family behind the front door or in the yard next door!

We all know there are many foreclosures across the country. Now, Hotpads.com allows you to see them on a map. Great tool for keeping up with what is going on around you and to see if you might want to invest!