The Government Shutdown And Housing

We're a little over a week into the government shutdown and many are wondering whether the closing of federal offices has or will impact the housing market.
 
The short answer at this point is no. But since none of us can predict how long this may last or what the outcome may be, it's hard to say with certainty that no glitches will arise.
 
Fannie Mae and Freddie Mac back the majority of mortgages in the U.S., and thus far have not been affected by the shutdown. However, the Federal Housing Administration is operating with a reduced staff, which means that FHA loans may experience delays in processing due to the lack of staff.
 
In fact, news sources say that the Department of Housing and Urban Development, which oversees the FHA, has just 64 of the nearly 3,000 employees who normally work at its offices reporting to work right now.
 
What could create delays in the mortgage market is the lack of an IRS form that lenders use to verify borrowers' incomes. Since the IRS is closed as part of the shutdown, they're not releasing verification forms at the moment. While a portion of the loans in process now would already have ordered these forms, some may be waiting for this in order to resume closing. If the shutdown lasts for more than a week or two we could reach a point where a small backlog occurs.
 
A few buyers are already caught up in mortgage purgatory because of the shutdown. If the shutdown persists, there will come a point where no mortgages can move forward. And those who were seeking FHA loans likely would be out of luck.
 
However, as the Wall Street Journal points out, if the shutdown lasts longer than a week or two, income verification forms would be the least of anyone's worries. Some government employees may face falling late on their mortgage payments. FHA could lose funding authority, effectively shutting off all FHA-backed loans. And failing to raise the debt ceiling would have much broader consequences for the housing market and the economy than process delays.
 
At this point, it's all speculation around what happens to the housing market and greater economy if the shutdown affects the debt ceiling. But we're all watching nonetheless.
 
If Congress resumes in the next week, home sales likely will be unaffected in the grand scheme of things.
 
Let's hope for the best.
Written By Gino Blefari
President & CEO
Intero Real Estate Services, Inc.
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Chris 615-406-1212, cday1212@gmail.com
Don 615-406-7348, don@teamdonday.com
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The home featured is perfect for those looking for quiet country living. This home is located off of Hwy 99 near Champions Run golf course and close to Veterans Parkway, 840, and I-24. A beautiful all brick home with a 2 car garage and a HUGE yard this 1356 square feet home is a MUST for those wanting to escape the city life but still be close to it all! NO CITY TAXES & 100% FINANCING available. Call us for information and find more pictures HERE. 

Let Us Simplify Your Search

Finding your new home is easier when you have someone with the skills and know-how to simplify and narrow down your search. We have access to all of the major sources of information, continually monitor the multiple listing service, are knowledgeable about new homes offered by builders, and even homes for sale by owners. But before we begin we need to know what your needs and criteria are.


Team Day frequently works with many of the builders in our area and can provide you with the information you will need before we go and take a look. We can also make sure that you avoid some of the more common pitfalls when dealing with owners selling direct to help you get the best deal on your dream home.

As dedicated Realtors, we are here to provide you with a full range of services and the peace of mind that comes from working with someone who has your best interests at the top of their list. We aim for 100% satisfaction and will make your home buying adventure a success.

Please don’t hesitate to call or email. We look forward to hearing from you and getting to work to find the perfect home for you.

Chris and Don, Team Day

Chris 615-406-1212, cday1212@gmail.com
Don 615-406-7348, don@teamdonday.com

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**Check out this one of a kind listing at 2546 Summit Court. Call us today to make this house your home!** (website for more images HERE)

Intero Foundation

When we joined Intero last year there were quite a few questions about this new company. One of the ones we still hear today is, "How do you prounounce the name of your company?" Well, we are happy to answer that question! So, say it with me, IN-TEAR(not a tear you are crying, a tear like you are ripping paper)-OH. One more time. IN-TEAR-OH. Good. Now that that's settled let's talk about WHO we are. 

When Intero Real Estate Services was founded ten years ago, its founders set out to create a company that was different. That difference would be based on values. One of those values is Commitment. The Intero Foundation is our vehicle for expressing a meaningful and sustained commitment to our community.

Through the foundation our goal is to positively impact the growth and well-being of children in the communities in which we work by supporting organizations focused on assisting in their education and personal development. Founded in 2002, it has raised more than $2 million to benefit children living in the communities we serve over the last 10 years.

To date, the Intero Foundation has lent its support to over 70 local charities – organizations that range in size and mission, but all work to positively impact the growth and well-being of children by enhancing their education and personal development.

The Intero Foundation is funded, promoted and governed by Intero agents – each of whom are vested in the health of the communities in which they work and live. An executive committee, led by Intero President and CEO Gino Blefari, provides strategic guidance. All members of the Intero community – executives, staff and agents – donate their time to further the Foundation’s mission.  To learn more about the Intero Foundation, please visit www.interofoundation.org. 

We are proud to be a part of and give to a non-profit that sees the needs in our own community, The Pregnancy Support Center. You can learn more about them HERE on their website. To date we have donated diapers, wipes, and have invested financially to their vision.

Take the Sting Out of Your First Home Purchase

The experience of owning your own home and being able to personalize it is one of the most rewarding experiences you’ll ever enjoy. But how much you know about the buying process - and whom you choose to help you - can save you from unnecessary headaches and unforeseen hassles.

 

Are you up to speed on title issues? How important are inspections and what does code compliance mean? What happens during escrow? Will you be able to find the opportunities that can tip price and rates in your favor?

 

Some people think they can get by with “just enough” knowledge, relying on a mortgage agent or lender that may or may not have their best interests at hand. The truth of the matter is, the more you know, the better position you will be in when it’s time to sign papers. And the right team will make an enormous difference on the outcome of your home buying adventure.

 

This is where we come in - offering the guidance, information and assistance that only a qualified Realtor can provide. We can also help you team up with a proven financial expert to put the best loan package together. This is why when you have a dedicated team working together on a planned strategy, chances are you’ll be moving in to your dream sooner than you might imagine.

 

We look forward to helping you achieve success with this major milestone in your life!

**The pictures featured are from one of our NEW listings at 3739 Precious Avenue. This house would make a perfect home for a first time buyer. Call us to make it happen before it's GONE! 

Chris and Don, Team Day

http://www.yourteamdonday.com/

Chris 615-406-1212

Don 615-406-7348

Home Improvement - Where To Start

You may be at the point in your home ownership where you are thinking about making some improvements. Here are remodeling projects that yield high returns right now according to the National Association of Home Builders: 

1. Small Kitchen Remodel: A simple re-facing of the cabinets, new flooring, appliances and hardware can transform a kitchen. Easily the most satisfying remodeling job I know of. Check out this article and our pinterest board for some great ideas for a small kitchen.
2. Bathroom addition: Older homes particularly benefit from this kind of change because they have a low bathroom count or the baths they have are very small. We have found some amazing bathroom ideas on pinterest - a great resource for ideas and inspiration. 
3. Major Kitchen Remodel: Who doesn’t love a state-of-the-art kitchen? And with new materials dropping the remodeling costs all the time, this can be a worthwhile project that will transform your life. Check out our pinterest board for some great eye catching kitchens! 

Keep in mind that priorities on which projects to choose now are different when you’re getting ready to sell. When it’s time to put your home on the market, your energy is better spent on ‘elbow grease’ projects like fresh interior paint that ‘lightens and brightens,’ plumbing repairs, and new exterior paint.

Call us if you need recommendations for trades people to handle any of this work. We have lots of names and numbers at our fingertips of excellent service people who have helped many of our clients.

Chris and Don, Team Day

http://www.yourteamdonday.com/ 

Chris 615-406-1212

Don 615-406-7348

**Featured above is one of our exclusive listings at 2804 Battleground Drive that is loaded with amenities. Call us to make this house your home today! 

Ensuring Your Successful Sale Is Our Goal

“Great things are not done by impulse, but by a series of small things brought together." Vincent Van Gogh  

Selling your home - and getting the maximum value for it - requires more than simply putting an ad in the paper, placing a sign in the front yard, and sitting back waiting for the phone to ring. There are several very important things to do and follow through on to make sure that you get top dollar for your home.

We take pride in making sure that we cover all the areas that will lead to finding the right buyer for your home. From the initial planning and the strategic direction we decide upon, to following through on all levels, making sure that we attract the right group of interested buyers to reduce the time your home is on the market.

To create yet another success story and ensure your complete satisfaction with our services, we follow a proven plan of action:

• We deliver first-rate service and pay close attention to every detail
• We conduct every aspect of our work with professional demeanor
• We always develop a marketing plan that guarantees the highest value for your home
• We always follow up on all the key areas to make sure that nothing is left to chance
• We are known for being tough negotiators

We're ready to get to work for you to find the buyer that will pay the highest price in the shortest amount of time. If you’re looking for a team that keeps your success top-of-mind, please call or e-mail us and let’s get started. We're ready when you are!

Chris and Don, Team Day

http://www.yourteamdonday.com/

Chris 615-406-1212

Don 615-406-7348

**Featured above is one of our exclusive listings at 2181 Gold Valley Drive. This home is one level living at it's finest - an absolute showstopper! Call us to make this house your home today! 

Move or Improve?

To Move or Improve – that is the question! To help you with this age-old dilemma here are a few suggestions that will shine more light on this subject. 

1. The first step is a basic reality check - assess if your remodeling plan is feasible. Check your building codes and ordinances. Consult with a qualified contractor and/or architect with experience in your area. You’ll also need to know what structural requirements are necessary if you’re planning to build above the ground floor.
    
2. The next step is to obtain an estimate of the cost. The very same contractor or architect can help you determine how much you’ll need to spend in order to create the additional space you need.
    
3. The last step is to investigate the current real estate market and determine what is available that meets your needs. The market is still quite favorable to buyers who are looking to trade up, and you can take advantage of interest rates that remain low. You’ll also find that the market is somewhat softer at the higher end, with a broad selection of homes offering very attractive options to meet your needs. At this level you’ll often find that a new home might give you much more than your current home ever could - even with the improvements you’re planning.  

It’s essential to know what your project will cost, so you can understand everything that’s involved and what the net gain will be when the dust settles. With this information in hand, you may decide that it’s simply not worth the cost or effort to add on.

It also helps to keep tabs on the market and look at larger homes as they become available. Knowing what’s on the market will ultimately help you decide whether to stick with your current home and add on, or to trade up to a new home that offers everything you need, right from the day you move in.

Call us to discuss this very important stage of home ownership. We will also be happy to refer you to professionals for your home improvement needs. We look forward to helping you!

*The beautiful home featured above is 1508 Barnsley Drive, located in the Berkshire neighborhood at Winslow Park. Call us if you would like to view this home and make it yours!

Chris and Don, Team Day

http://www.yourteamdonday.com/

Chris 615-406-1212

Don 615-406-7348