I’m delighted to have my favorite Knoxville area mortgage banker, Debbie Nieto of CTX Mortgage Company as my first guest blogger.

debbie nieto, ctx mortgage company

Debbie Nieto


Debbie has written a great list of reasons why, despite all the negative real estate news the local and national media keep insisting on promulgating, now is a great time to buy or sell real estate in Knoxville, Tennessee.

And now without further ado; here’s Debbie

“Put the facts on your side!

In today’s housing market, we all know how important it is to get buyers and sellers back into the game. Unfortunately, the media’s continued focus on negative real estate news is keeping many people solidly on the sidelines. But remember, these people aren’t getting the whole story. And the facts they’re missing can alter their mindsets. All we have to do is put those facts out there!

Fact #1: Some six million Americans are expected to buy a home this year. Six million people in the game make up a pretty big game. That’s a level of sales equal to the one we experienced in 1998—by all accounts, a pretty good year.

Fact #2: There is still over $23 trillion of value in u.s. housing stock. Home ownership continues to be the basis of our wealth in this country.

Fact #3: The housing market cannot help but grow. Our country’s tremendous wealth, liquidity, and entrepreneurship will continue to drive our economy. 70-100 million people will be added to our market in the next 40 years.

Fact #4: Real estate is cyclical. The biggest fear in good times is that the fair weather won’t last forever—because it doesn’t. But the reality of a cyclical real estate market also provides its brightest hope in bad times—foul weather won’t last forever either. What’s happening today is a market correction, severe in some places, but it’s not the end of the world. As shown by Fact #1, people are still buying and selling homes. The markets will stabilize.

Fact #5: 2008 is the best year to buy a home in 35 years. 1973 was the last time mortgage rates were this low in a buyer’s market. We had rates this low in 2001 and 2002, but those were strong seller’s markets with little inventory. The last two big buyer’s markets, in the early ‘80s and early ‘90s had much higher rates. Low rates and good inventory make 2008 the best year to buy in decades!

Fact #6: First-time buyers have a real advantage in today’s market. First-time buyers can buy at a reduced price without having to sell at one too. Higher limits on lower cost conforming loans also help first-time buyers purchase more home for their money. Today’s ‘starter’ homes can be pretty impressive.

Fact #7: First-time buyers lose money while they wait on the sidelines. First, renters typically pay more state and federal income taxes than homeowners with a mortgage deduction. Renters are also losing the wealth they could be accumulating as they pay down their mortgage and as their home increases in value over time (as it surely will). Lastly, renters who wait to buy will lose money if interest rates increase by the time they finally act. Higher payments from higher interest rates represent money buyers could have kept if they had bought earlier. Conversely, if they were willing to spend that amount of money earlier, they could have bought more home.

Fact #8: Homes sell when they’re priced right and show well. Buyers are looking for value in today’s market. When sellers make their home’s value obvious, they make a sale—it’s as simple as that.

Use these facts on your website, in blogs, and in conversation whenever you run into reluctance from a prospective buyer or seller. The best way to fight negative media is with the facts they’re leaving out!

… Have a great month!”

Have a great month indeed!

And here’s a link to find some homes for sale to put Debbie’s excellent advice to work for you.

When you find a great home, Debbie has the cash to buy it with and I have the keys; call us please.