Ray Carman – Auctioneer

“When you wake up with nothing to do, that is usually what you get done, NOTHING!”

This is a killer in Real Estate, or any sales job for that matter. If you are not actively pursuing something, then you will typically do nothing. And NOTHING gets nothing done and brings in no funds with which to survive. And with no funds, you will soon be looking for something new to do.

Real Estate is about being active and producing results. I can remember being told to “just do something” so I would be busy and active with my mind. To a young mind, this usually translated to forcing myself to be physically active. But years of learning have taught me this is not so. Just doing something may or may not be the answer. BUT, doing something that will end in results IS the answer.

In other words, a Realtor can be out hustling and bustling and all they accomlish is to get worn out. However, another Realtor may find their time open with a soft market, and they will choose to increase their knowledge by reading a book. Or, increase their client base by reaching out to all past clients and customers to remind them that they are still their for their needs and needs of their friends. These Realtors will find themselves not only surviving, but thriving in soft markets.

They key is to wake up with purpose, but also to USE your time wisely and not “just be doing something!” To stay ahead of the game, you must stay on top of the game!

Priority One Real Estate and Auction – 615-824-0044

I think this says it all from the leading experts in the blogging fields!

Here is a video of an upcoming auction of a farm that is rich with Civil War history!

Be sure to come visit us on November 1st, 2008 at 10 am CST! We will see you there!

With credit and lending in the front pages these days, I feel there is some clarity that we should try to make. The institutions are talking about a credit freeze, but that is not entirely accurate.

Lending is not any worse for those that have decent credit.  The biggest issue is that 100% loans are gone except for some deals that have government grants and things that are government subsidized.  As we know that these are hard to get for the normal person trying to purchase a house.  You can still get gift funds on all loans as long as it is from family.  So if you want to do an FHA loan the family can give the 3.5% downpayment for them.  Conventional loans are going to require that borrowers put down 5% of their own funds but parents can give more on top of that to lower LTV and make a largesr down payment.  Conventional loans are more credit challenged now than FHA loans are.  There are hits to raise the rate if you are not a 700 score, 680, 660, 640, 620.  Each step down in your score will raise your rate.

The best loan in the country right now is a cash out refinance to 95% to pay off old debt and lower your monthly payments.  It is at the best rates with ½ price mortgage insurance premiums.   You can also do the same loan with no cash out / just rate and term to 97%.

We are rarely coming against clients that we can’t get closed.  Even in this economy.  There is still plenty of loans and plenty of money out their. If you are looking for a loan, please give us a cal at 615-898-1405

If you are caught watching the worlds economic debacle, you are surely feeling a little anxiety. For people who have no stake in the market, they are seemingly less twisted by the mess. They seemingly have less at stake. Which unfortunately is not true. Whether you have money in Wall Street or not, how the market plays out does have an affect on your life.

For instance, the farmer who has never owned a stock will see the prices of his crops and cattle drop as users spend less and less at the market store because they have lost money on Wall Street. The homeowner who works 9-5 and has never dabled in stocks has seen his house value crunched as more and more investors have lost their homes due to the economic spill out. The single mom who works three jobs just to get by, yet has never made one trade, will hit hard times as the third job has been stripped away due to the owner losing his shirt on wall street.

These effects due trickle down and hit “Main Street” as they said it would. Like the “Bailout Plan” or not, they passed it, and as we saw, it seemed to do little to help investor confidence last week. Every global market had huge hits, as people ran scared to clear accounts, fearing disaster.

But, it is immensely important, inspite of your politcal leanings or yearly earnings, to remain calm during this storm. Those who act irrationally will find themselves on the losing end no matter what. Sumner County’s real estate market has remained “stable” compared to the rest of the nation. But even last week, our market saw the effects of the “meltdown” as closings and contracts slowed to a mere sluggish crawl after we have been experiencing marathon sprints for the past 5 years! One day even showed only 2 transactions closing, and a total of 12 for the weekend (Thursday-Sunday). This down of course from the 25-30 daily we experienced in high times.

All sound like bad news? Well, it is not! People and lenders got caught in the trap of watching the media last week, and thus were frozen in fear of the days ahead. The truth is, even when things were the toughest in this economy, people still moved forward. Stories from the 1930’s deppression era told of folks who took their lives because the world was ending, yet, America moved forward and grew. Black Monday in 1987 sparked immense fear and people again panicked, thinking all was lost, yet, the country moved forward. Time and again our nation and Real Estate economy has proven itself to be able to recover and grow during hard times. Why else would investors from Wall Street be calling and looking for land into which to invest their withdrawings? They know this is a great place to invest, especially in difficult times.

Are things going to be easy? NO! Are tough times ahead? YES! Is either candidate going to change things drastically/ Probably not! So the key is to stay calm, relax, and take it one day at a time!

If you have any questions, thoughts, or ideas for people in the real estate and auctions, feel free to post a comment or email us your thoughts!

Ray Carman

to find out what you want to know regarding Real Estate in Middle Tennesse and regarding Auctions. SO, fire away! What topics do you want to know about? Throw me either a question or topic for discussion! We will then post them both here and at ISurfSumner.com

Email them to RayCarman@gmail.com or post in the comment section below.

You are being hunted!!

Qualified buyers have become a premium in the Real Estate market, and there are lots of hungry Agents looking for you. Houses are now on every corner with a for sale sign in the yard, yet qualified buyers have dissappeared like the dinosaur from the landscape. As the lending and credit crunch become more and more effective in our landscape, buyers who can actually obtain a loan are a priceless commodity!

So, Buyers Beware! You are of utmost value and need in our world today! As you start your treck through the masses of would be homes, be sure you are aware of your current value when choosing a home and an agent!

Good Hunting!

When a market is stagnent due to an overage of supply of homes coupled with and shortage of qualified buyers, it is a perfect time to consider leasing your home, at least till the market settles down.  Even high end homes!

The math is simple! More and more people are falling short of mortgages because of defects in credit, yet they can still afford to make some healthy monthly payments, just can’t quite nail down that mortgage till their credit is cleared up.

Also, many folks are having to give the keys back to banks on houses they bought in the last five years because their rate adjusted and they no longer could make the payments because of the increase. BUT, they can still make good solid monthly payments on homes in the area on a monthly lease basis.

Using a lease could help you hold on to an asset during rocky times and keep you from losing money during this soft market. It could also free you up to get that new home you have had your eye on as well. Doing something like this will also play a part in kick starting an economy that is struggling.

KEYS to wise leasing! It is simple! Hire a property manager!!! This is someone who has been in the leasing field for awhile and knows how to filter through client applications to be sure you are getting a good tenant who can and will pay. This person also has knowledge and expertise in advertising your property as a lease or lease purchase, and knows how to get the applications in! And this professional also knows how to handle the situations delicately when things have gone a little sour or payments are not being made!Property Managers can surely be found in your area, and if you are considering a lease or lease purchase in Sumner County (Gallatin, Hendersonville, White House, Goodlettsville, or Portland) I would strongly recommend our property manager, Jennifer Rowland! You can reach her at the office (615-824-0044) or on her personal line, 625-708-9916!

Leasing is clearly a great option in our market today!

When people think Auction, they simultaneously think “I am going to get a deal!” When sellers think auction, often they think “I am going to lose a fortune!” Yes, both of these statements can be true if the circumstances are right, BUT, they can also keep you from making a great decision as a seller, and fool you as a buyer!

During my years as an Auctioneer here in Sumner County TN, I have seen people make great buys at an auction and make money on the property ofr item they bought. But, in that very same setting, at the very same auction, in the very same buy, I have seen sellers come out smelling like a rose because they chose to sell by using the auction method! Although the buyer may have gotten a “bargain” on his item, the seller came out on top as a whole because the sum of all the parts put his choice on the side of “greatness.”

So why (and when) should you consider an Auction?

1. If you are handling an Estate! When you are in the position of handling an estate, many times you wll have a house, land, and personal property with whcih to seperate. Oft times, a house cannot be divided among heirs, so the money form it is needed to distribute equal portions. And, there is bound to be a house full of personal items which need to be sold because no one in the family really wants them, thus once again money is needed for equal split. Many times I have heard the fears of the sellers, concerned the items and property will not bring its worth. Here is the truth! Some items will not bring the entireity of their value, BUT, other items will bring far more than you would have imagined, thus bringing out a well balanced sell! The house/property will always go for at or near market value at the time it is sold. In rare occassions, properties have not brought their value, BUT, in others, they have met and even exceeded it.

2. If you are looking for quick sale! Many times, an owner wants something sold so he/she can move on to the next thing they have in line (new house, new town, new job). They can place their house on the market and wait for a buyer, or, put their place up for auction and force buyer to make a decision quickly. This is often helped by the fact that Auctioneers typically have a bank who is willing to offer “on the spot” financing with the buyers down payment (usually collected as earnest money). This places the seller in the control seat while making the buyer make a move.

3. If your market is overloaded with homes! This is a perfect time to speak to an Aucitoneer about marketing your home for you. With houses piling up on the market, buyers become stagnant in their decision process, waiting on who is going to cave and give them the best deal. Using an Auction as your marketing strategy, you simply force the buyer to decide if your house is the one for them. I cannot recall the many times that houses have actually and properties have actually sold before the auction came to pass, simply because a buyer was concerned they would lose out to another bidder at the auction. I also have witnessed many occassions in which two competing buyers have driven the price to the market value and beyond simply because they “wanted THAT place!”

Auctions do have risk, as anything in life. But auctions also have great value and potential that is something you should definitely consider!

If you would like a free consultation regarding your Auction potentials, give me a call at 615-824-0044 or email me at Ray@RayWCarman.com

With yet another day of stock drops on Wall Street, it is just another proof that you should be putting our money into real estate. In an interview today, Donald Trump says he is in buying mode, and he was talking about real estate. Over 90% of your worlds millionaires made their money in real estate. So if you have some cash sitting around and you are wondering where to put it, it is Real Estate.

A young investor called me today and he too is looking to BUY! His invested money has been taking a hit this year, and he is looking to buy here in the local market. Using the knowledge he has obtained, he is going to dig into investment properties in Sumner County.

The only question is, why aren’t you?

If you have questions and even concerns about our local Real Estate market, feel free to give me a call. I would be happy to sit down with you for a free consultation about how this present Real Estate market could be your key to survival during these uncertain times!

Ray Carman, 615-428-4920 or Ray@RayWCarman.com