10 Reasons To Relocate To Nashville Groombridge Land With Potential Buying A Second Home In Myrtle Beach Real Estate Terms From Pre Approval Letter To Townhouse Timing Clauses Stop Sellers From Inciting Bidding Wars Foreclosure Rescue And Foreclosure Options
Anyone who has ever been to Nashville can attest to the fact that it is a great city. But Nashville has become known as a great place to relocate to for a variety of reasons. Not only was Nashville listed as one of the 10 best places to live and work in America, it is also home to one of the lowest costs of living in the Nation.Here are a few other reasons why Nashville is a good choice for relocation.
1. Nashville is home to an appreciating real estate market. With home values on the rise, home owners are seeing a great return on their investments. Naturally this is a great environment for real estate investors who are seeking to increase their equity.
2. Tennessee is one of only 6 American states with no personal income tax. As you can imagine this is a bit of a money saver!
3. One of the most attractive aspects of Nashville is its central location in the South. Tennessee has easy access to numerous surrounding states. Nashville is actually located within a one day drive of 50% of the U.S. population.
4. Nashville is home to a great local arts scene. There is an abundance of live theatre and cultural events that showcase the history and culture of this beautiful city. There is never a shortage of things to do or see in Nashville.
5. No list of Nashville’s assets would be complete without mentioning the local music scene. This is the heart of the nation’s country music scene. It is also the home of the world famous “Grande Ole Opry” which is one of America’s best known and most beloved venues.
6. The Nashville area is blessed by a bounty of beautiful lakes and parks. This is truly some of the most stunning countryside in the nation. Gently rolling hills and prairies set a picturesque backdrop for the homes and properties.
7. Nashville is renowned for its friendly people. This area is home to a diverse and cultural population, it is not hard to find your place in Nashville. This is the kind of community where new residents immediately feel like they are a part of something special.
8. If you are a sports fan, Nashville is a fantastic place to live. With pro football’s Tennessee Titans and the Nashville Predators of the NHL any sports fan will have their calendars full of things to do and games to see.
9. As a national focal point for relocation, Nashville has a remarkably cosmopolitan make up. This city is host to a varied blend of commerce and industry and the outlying areas are home to a thriving agricultural sector. This is also one of the reasons that Nashville is known to be one of the hottest real estate markets in the U.S.
10. What more could be said about the climate in Nashville aside from the fact that it is beautiful, year round. The average temperature in Nashville is 70 degrees! You could really wear shorts all year long.
There are numerous other reasons to consider Nashville for relocation, in fact there are simply too many to list in such a small space. Nashville has excellent employment opportunities, numerous places of worship of all denominations, and excellent health care. Maybe you should check out Nashville sooner rather than later.
Groombridge land is agricultural land which has potential for development. Groombridge is located on the edge of west Kent, some seven kilometers to the west of Tunbridge Wells.
Groombridge is notable for the unspoilt nature of The Green and its enclosure by groups of buildings that are completely harmonious and with nothing out of place.
The Key Characteristics of Groombridge Land are:
– The unspoilt rural setting in the Metropolitan Green Belt and the High Weald area of Outstanding Natural Beauty;
– The topography created by the valley of the River Grom and dominance of trees in the parks, along roads and the river and encircling the northern side of the settlement;
– The sloping green and its exceptional array of 17th century cottages, remarkably unspoilt; As a result of the above, the 56 listed buildings, no less than 27 of which are Grade II* and five are Grade I. Such a concentration of high grades is wholly exceptional and serves to underscore the very special quality of the settlement;
– Groombridge Place, remarkably little altered since it was rebuilt in the second half of the 17th century, with its 17th century walled garden and 17th century and later landscaped park, a Grade II* registered landscape;
– The ‘Gothic survival’ church built in 1625, an unusual date for the building of a church, and the four listed Camfield monuments in the churchyard;
– The complete ensemble of village green, church and Groombridge Place with only the minimum of intrusion from the 20th and 21st centuries;
– The mellow variety of building materials, of brick, tile hanging, tile roofs, timber-framing, sandstone and weather boarding;
– The soft and ambiguous boundaries of the properties fronting The Green; and
– The harmonious uniformity of paint colours for doors and windows on The Green.
The unique qualities of Groombridge have been recognized for many years and the village is well preserved. Groombridge Place is rich in historical associations and current day attractions. All these characteristics make it a land with potential for investment.
In an age where investment is possibly the most secure investment available, the process of trying to identify the perfect area in which to invest has become more and more important. There are certain areas in this country that have become synonymous with real estate fortunes, Florida, California, Las Vegas to name a few. But as these markets become more and more saturated, smart investors are looking to other areas as they have seen the focus switching away from these overloaded markets.
As the focus has moved away from these markets there are a few different areas that have started to emerge as areas of potential growth. One such area is Myrtle Beach. Myrtle Beach is an extremely popular resort destination and along with such a designation comes the opportunity for real estate investment. Like many other destination areas, Myrtle Beach has a booming vacation rentals industry that is only showing signs of growth in past years. This has presented a great chance for real estate investors to get in on the ground floor of this booming area.
If vacation rentals are not to your liking and you prefer the stability of long-term renters then you need not worry as Myrtle Beach is also a great place to live and work. The solid industrial core and diverse economy have created a environment of economic growth and prosperity that bodes well for the future of this area. There is also a great system of education here that includes both public and private schooling and a variety of post-educational options including Webster University.
The future is looking bright for Myrtle Beach. With a thriving vacation industry and the emergence of a strong business sector, this area will continue to see growth for many years to come. This is a great time to invest in Myrtle Beach as getting in on real estate in this area will show a great ROI no matter what vein of real estate you choose to place your money in.
When buying or selling a property, it always helps to have a basic understanding of real estate terms. In this on going series of articles, we take a look at definitions starting with “Pre-Approval Letter.”
1) Pre-Approval Lender Letter – a writing from a lender stating that a potential buyer has approval to borrow a stated amount of money from his firm based on having documented all the personal information needed. Final approval is subject only to the lender’s receiving a copy of a contract to purchase real estate, a satisfactory appraisal of that real estate, and its underwriting department’s review of all pertinent information. In other words, the buyer qualifies so long as the property does and no changes occur.
2) Pre-Qualification Lender Letter – a writing from a lender stating that a potential buyer is able to get a loan in a named amount. It typically states the price of real property to be purchased, and what information the lender had when forming his opinion. When a lender has pulled a borrower’s credit file, his opinion is worth more than if he just based it on what the borrower told him.
3) Real Estate, or Real Property – ground, any plants growing in it, any minerals under it, and any buildings or other improvements built on it.
4) Septic System – a self contained means of disposing of sewerage which tends to intimidate city dwellers. The simple version is a holding tank in which enzyme and bacterial action decomposes the waste material and buried lines in a drainage field which uses soil to strain out what remains. This works very well in soil which percolates well (water drains through it quickly). More elaborate septic systems are often needed in areas with heavy, clay soil and in areas with a high water table. Some properties are totally unsuited for septic systems and cannot be built on until public sewer is available.
5) Title Insurance – insurance which will compensate the insured for the value of his ownership or collateral position in real property if a person not thought to be a current owner materializes as an owner. (I’ve seen this come into play when property was owned by many heirs a generation or two ago.)
6) Townhouse – A single family attached dwelling unit with common walls.
Well, as promised, it’s not a be-all, end-all, but we have covered lots of the important definitions and concepts needed to successfully handle your for sale by owner transaction. If I’ve missed something, don’t hesitate to visit our site to read more.
It is no secret that the current real estate market is hot, hot, hot. Sellers can receive multiple bids for their property on the same day. In the rush of the moment, your emotions can carry you into a bidding war. Using timing clauses can help avoid such a situation and protect you from buyer’s remorse.
Timing Clauses – Drop Dead!
A timing clause is inserted in an offer to avoid open-ended bidding wars. You do not want your offer to be “on the table” indefinitely. Such a situation inevitably leads to a bidding war where sellers “auction” up the price of home to a sellers benefit. To avoid this, you should choose to put a “drop dead date” on your offer. You would include language that says something like, “This offer is open until withdrawn or until 9:00 P.M. on Tuesday, June ____, 20__, whichever comes first.”
Let’s look at an example of how a hypothetical situation might work out.
Say the asking price of the home is $995,000. Your offer is $995,000 with a drop dead date of September 1, 2005. On August 29, 2005, the seller informs you of a competing bid for $1,000,000. While your immediate reaction is to panic and up your offer, you should instead calmly ask to see the competing offer. If the seller drags their feet or won’t produce it, the bluff is called. Now the seller has to make up their mind before the 1st. They may decide not to accept your offer, but at least you will have avoided bidding against yourself. Alternatively, if the seller produces a competitive bid, you will know where you stand and make an informed decision on whether to raise your bid.
Timing clauses are fairly standard practice in most parts of the country. Make sure you use one to force the seller to make a decision. You don’t want to be left twisting in the wind.
Foreclosure rescue, also known as equity skimming or equity stripping, is any of various predatory real estate practices aimed at vulnerable, often low-income, homeowners facing foreclosure in the United States. Most often, these transactions take advantage of uninformed, low-income homeowners.
The term “foreclosure rescue” has sometimes referred to subprime lending refinance practices that charge excessive fees thereby “stripping the equity” out of the home. The practice more often describes foreclosure rescue scams. While most do not consider foreclosure rescue a form of predatory lending per se, foreclosure rescue is related to traditional forms of that practice.
Subprime loans targeted at vulnerable and unsophisticated homeowners often lead to foreclosure, and those victims more often fall to foreclosure rescue scams. Additionally, some do consider foreclosure rescue, in essence, a form of predatory lending since the scam works essentially like a high-cost and risky refinancing. Foreclosure rescue, however, is conducted almost always by local agents and investors, while traditional predatory lending is carried out by large banks or national companies.
Trends in the United States economy have led to the growing market for foreclosure services and foreclosure rescue. Property values have increased dramatically from 2000-2005.
Foreclosure A homeowner falls behind on his mortgage payments and enters foreclosure. Foreclosure notices are published in newspapers or distributed by reporting services to investors and rescue artists. Foreclosed homeowners also contact lenders to inquire about refinancing options.
Solicitation Rescue artists obtain contact information for foreclosured homeowners and make contacts personally, by phone, or through direct mail. Some lenders and brokers will also refer foreclosed homeowners that do not qualify for new loans to rescue artists for a commission. Rescue Artists offer the foreclosed homeowner a “miracle refinancing” and/or say they can “save the home” from foreclosure.
Acquisition Rescue artists arrange the closing (often delaying the date until shortly before the homeowner’s removal in order to create urgency). At the closing, the homeowner transfers title (possibly unwittingly) to the rescue artist or an arranged investor. The rescue artist or arranged investor pays off the amount owed in foreclosure to acquire the deed, and inherits or is paid any portion of the homeowner’s remaining equity.
Result The homeowners remain in the home and pay rent or contract-for-deed payments (often higher than their previous mortgage payments). Several states have passed laws to prevent and/or regulate foreclosure rescue schemes. Minnesota and Maryland passed laws in 2005 aimed at “foreclosure reconveyance” practices . The statutes also ban certain deceptive and unfair practices associated with foreclosure rescue.
Reinstatement of Loan (Cure): This option is paying the lender everything that is owed in one lump sum to include missed payments, any late fees associated with these payments, foreclosure fees, legal fees and the principal owed during the delinquency.
Repayment Plan: This is a written agreement between the lender and the seller. These plans require higher payments than the regular monthly mortgage amount for a period of time until the loan is brought up-to-date.
Loan Modification: A loan modification involves changing one or more terms of a mortgage. Modifications can be considered to reduce the interest rate of the mortgage, change the mortgage product (from an adjustable rate to a fixed rate, for example), extend the term of the mortgage or capitalize delinquent payments (add delinquent payments to the mortgage balance-only available in extreme hardship situations).
Forbearance Agreement: The lender will allow you a period of time (3-6 months typically) of either low payments or no payments at all.
Special Forbearance (FHA Loans only): Allows eligible borrowers to postpone monthly mortgage payments for a minimum of four months.
Deed-in-Lieu: A Deed in Lieu is an option in which a borrower voluntarily deeds collateral property in exchange for a release from all obligations under the mortgage..
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