Clarksville, TN

This year’s tour will feature an incredible 18 homes from Association members.  Included in the tour for the first time will be a condominium and an Energy Star Certified home.

The public will be able to view homes in a variety of areas and subdivisions.  Surveys from last year showed that many people gathered decorating and remodeling ideas.  Builders are allowed to fully stage one room with furniture and accessories.

Participating homes were judged earlier.  Winners were determined in numerous categories including “Best Master Suite”, “Best Kitchen”, and “Best Landscaping”.  The public will get to vote for a “People’s Choice” award.  The Overall winner in each price category is listed below.

Real Estate agents and mortgage lenders will be on hand to provide support. Visit the Clarksville Home Builder Website for a map and more information on times and where tickets can be purchased. www.clarksvillehba.org

Winners this year in the under $265,000 category for Best Overall

• 1st Place: Lot 53 Whitetail Ridge – Hawkins Home Builders
• 2nd Place: Lot 18 Farmington – Clarksville Homes
• 3rd Place: Lot 178 Hickory Wild – Powers, LLC

Winners in the $265,000 – $300,000 category for Best Overall

• 1st Place: Lot 77 Bentley Meadows – Pranger Construction
• 2nd Place: Lot 126 Farmington – Hawkins Home Builders
• 3rd Place: Lot 67 Bentley Meadows – Pranger Construction

Winners in the over $300,000 category for Best Overall

• 1st Place: Lot 8 boyer Farms – Crabbe Construction
• 2nd Place: Lot 75 Farmington – Reda Home Builders
• 3rd Place: Lot 19 Copperstone – Prestige Builders

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This event, which began on a local level a few years ago, is a weekend when REALTORS® across the country—and across the globe—will hold open houses.

It is the start of the summer house hunting season. And with over 1,800 homes on the market in Montgomery County, it is a great opportunity to see the incredible variety of homes available.

Though it is billed as a “national” event, real estate professionals from nearly 60 international countries are also taking part including Canada, Denmark, France, Norway, Philippines, Sweden, United Kingdom, Israel, Mexico, Romania and Peru.

Realtors will be on hand to answer questions about home ownership and local market conditions. They’re trained to find the home you seek and won’t stop until they do. So, head out this weekend, meet with your Realtor and check out some area open houses. You won’t be sorry.

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Montgomery County Foreclosure information from RealtyTrac®

RealtyTrac(realtytrac.com), the leading online marketplace for foreclosure properties, reported that Montgomery County foreclosure filings were 93 in August, up from 66 in July.  This is the highest monthly number this year.  One in every 691 housing units in the county received a filing notice in August. This is only slightly better than Tennessee with one in every 647 homes receiving a foreclosure filing.

Poor economic conditions and high unemployment have contributed to a Mortgage Bankers Association estimate that more than one in seven homeowners is currently facing foreclosure (or at least one payment past due).

Homeowners facing foreclosure have options.  Some of these options are loan modifications, refinancing, deed-in-lieu of foreclosure, rental, or the short sale.

Short sales are on the rise as mortgage companies learn to deal with the current market.  A Short Sale is when the mortgage company accepts less than the full balance of the loan on the sale of the home at closing. Each of these alternatives has different qualifications and implications for the homeowner.

For the military, there may be additional options for some form of relief under the Service members Civil Relief Act (SCRA) and the Department of Defense Homeowners Assistance Program (HAP).

A short sale can save someone from going through foreclosure and possibly bankruptcy.  For the mortgage company, the short sale is normally less costly than pursuing the foreclosure process. The Federal Housing Finance Agency has reported that short sale volume is up more than 150% from volume in 2^nd Quarter 2009.

The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. Homeowners in distress need to consult experts to adequately evaluate their financial situation. Speaking with a knowledgeable attorney and accountant is critical as is working with a well-informed, qualified real estate professional. They have the tools needed to help homeowners find the best solution for their situation.

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REALTORS® around the nation will be holding open houses on the weekend of April 10 and 11, 2010 during REALTOR® Nationwide Open House Weekend! Thousands of people who have listed their home for sale will open their doors with a REALTOR® as host, for you to look around.

How is this weekend different than any other weekend in April? This is an incredible opportunity for consumers to shop for a new home while:

• Interest rates are still low
• Home prices are lower
• There are a variety of home choices available
• The Expanded First-time Homebuyer’s Federal Tax Credit is still available. It ends April 30, 2010.

Eventually, home prices and interest rates will climb, inventory will become scarce and the tax credit will be gone.

A list of open houses can be viewed at the web site for the Clarksville Association of REALTORS at http://clarksvilleassociationofrealtors.com/

So get out and visit all the open houses in your area on April 10-11. After all one of the open houses you visit may be the one you’ve been looking for.

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Rotarians from the Clarksville Sunrise Rotary Club will be stationed near the entrances to the Dunn Center to accept the donations and provide the  tickets.  The Clarksville Sunrise Rotary Club and APSU Athletics are coordinating this effort as part of the larger “Clarksville Responds” efforts.

Please come support the Govs basketball teams, make a donation, and make a difference for those suffering from the devastating earthquake that struck Haiti on January 12th.

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Nationally, existing home sales declined 1.3 percent from May and were 8.9 percent below June 2005. The median house value was $231,000. The median is a typical market price where half of the homes sold for more and half for less.

The Realtracs Multiple Listing System provided me with the detail to obtain the figures for Montgomery County. These numbers include both new and resale homes. Locally, home sales in June were 408. This is an increase of 18% over last month and nearly equal to the 411 sales of a year ago.

The median value of a Montgomery County home was $132,500. When compared to the national figure, you can see just what a bargain Clarksville is.

The bottom line is that demand remains strong in our area. Homes in the lower price ranges are selling quickly and we have seen more homes in the highest price ranges selling in the last several months.

Home sales in Clarksville can be impacted tremendously by the status of the Ft. Campbell troops. The return of the troops in September, October, and November will make the market even stronger.

If you are a buyer, you should look now. The return of the troops will increase demand and the sudden influx of potential buyers could raise prices. We’ve already seen this in the rental market as military spouses are returning to the area in preparation. Rental home inventories are way down from previous months.

If you are a seller, now is the time to get your home ready and place it on the market. Demand for homes will continue to be strong for most of this year.

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