FIVE THOUSAND DOLLARS available now to buy home

UPDATE: To answer a question in the comment section, this is for homes in any area of middle Tennessee, but through one specific lender.

One of my favorite lenders came to our meeting this morning to tell us about the "Welcome Home Program" his company is sponsoring. For a limited time (probably until mid-May or when the money runs out), down payment assistance up to $5,000 will be available for buyers. A buyer would, of course, still have a passable credit score and there are a couple more requirements:

• The borrower must owner occupy the home (no investors for renting)
• Homebuyer education required for first-time homebuyers
• A portion of the grant may have to be paid back if the home is sold or refinanced in the first five years (ask mortgage consultant for details) (the lender told us this was R.A.R.E.)
• The borrowers' annual household income cannot exceed $49,280
• The borrower must have an investment of at least $500 in the transaction (and up to $300 can be a "gift" from a family member)
• The $500 investment required is waived if the borrower is disabled
• First come, first served basis - extremely limited.

If you are one-iota interested in this, pick up the phone and call as soon as possible because the free five grand won't be around long. I can be reached at (615) 491-2161 and my office number is (615) 459-4040 (ask for Kathy T.).

La Vergne Housing Numbers

Wanted to give a quick update on where our housing market in La Vergne is today.

Homes sold in March 2007: 56
Homes sold since January 1, 2007: 160
Homes sold in March 2006: 100
Homes sold from Jan. 1 - March 31, 2006: 237

Clearly, we've a a decline in the housing market since this time last year.

Homes currently on the market: 369
Homes on the market, but pending: 85 (these could include lease-purchase homes or regular homes that are nearly ready to close)

Lowest home price is $49,500 for a mobile home on a decent track of land on Hollandale Road.
Most expensive home is $485,900 in Hampton Estates off of Jones Mill Road.

By comparison, Smyrna has 372 homes on the market (as of right now 12:35 p.m. 3-31-07) and 210 homes have sold since January 1, 2007.

Please comment if you have questions!