Homes For Sale in Murfreesboro, TN | Buying a House in Murfreesboro, TN | Foreclosures in Murfreesboro, TN | Short Sales in Murfreesboro, TN

Inside Real Estate
Let Me Help You!
(615) 519-4040
Follow My Blog
luckyluecke
Lucky Luecke
Managing Broker
    Years of Experience: 15

    ABR - Accredited Buyer Representative
    CRS - Certified Residential Specialist
    CSP - Certified Home Specialist
    GRI - Graduate Residential Institute

Direct: (615) 519-4040

Office: (615) 896-2733



Company Info

Red Realty
522 Uptown Square
Murfreesboro, TN 37129
(615) 896-2733


Real Estate Tools

Schoolsschools

Communitiescommunities

Calculatorscalculators

Posts Tagged ‘Best Real Estate Company in Middle Tennessee’

Utilize House Trade Marketing Option to Sell Your Home…Fast!

Friday, July 13th, 2012

FACT:  House trading greatly increases the likelihood of selling your home faster in today’s challenging market.  In my experience, many Realtors and their Seller or Buyer Clients have no clue on what a House Trade is and how that might be a “win win” option for all parties to consider.

Sellers, if you are looking to either downsize or upsize in the local market, your home should be marketed, “will consider House Trade.”  Briefly describe the criterion that would cause you to be interested in your next home.  For example, you might want to purchase a home in the Blackman School zone, sized 1800-2500 sq ft and priced in the $180,000-$250,000 list price range.  This may spark interest from Buyer prospects who already have their homes listed for sale and who may also be searching to buy a house just like yours!  Additionally, Home Owners who maybe on the sidelines for various reasons (e.g. who have yet to list their home for sale) oftentimes will inquire about your house when they  see the words “house trade” in your advertisements.

Most recently, I was involved in a successful House Trade this past spring.  The Buyers did not have their home on the market because they didn’t want the inconvenience of multiple showing appointment requests because of their very busy family lifestyle (3 young boys, etc).  They were “cramped” however, in their 2200 sq ft sized house and desired a larger house with a pool.  Hence, that Buyer saw the House Trade Marketing data on one of my listings that had 3700+ sq ft, and the rest is history.  My Seller was looking for a 2000-2500 sq ft house, and now both are happily living in their “new” houses.  Success through House Trading!

What are some key characteristics to know when determining if a house trade is likely to work out:

  1. There must be some “equity” in the respective properties.
  2. Both properties must appraise for the purchase price or greater.
  3. Both homeowners must “match” their home purchase search criterion.
  4. If financing is required, the Lender must have the expertise necessary to close this type of loan(s).
  5. A Realtor, such as me, must have the experience necessary to properly manage the house trade process through a successful closing.

Sellers, consider the risk/dangers of Early Occupancy and Lease/Purchase Agreements!

Monday, July 9th, 2012

I’ve recently seen an instance where a Seller gladly accepted an Early Occupancy Agreement within a Lease/Purchase framework.  The Seller thought to themselves, “Great, even if the Lease Purchase/Temporary Occupancy Agreement did not work out (in the vast majority of instances, they do not because the tenant/Buyer never improves their credit scores in order to get loan approval along with a host of other issues), then I’ll at least have a rental income to pay my mortgage, etc.”

In spite of being cautioned about the downside risks associated with Lease/Purchase Agreements (see previous Blog articles), this Seller, like many others are prone to do, rolled the dice in hopes that all would work out.  Unfortunately, it did not work out and reality hit…and hit hard!

A “red flag” immediately went up when the tenant stopped paying their rent and was non responsive to the multiple attempts by the landlord to get the tenant caught up with the agreed upon rental payments.  What happened next was that Law Enforcement Officers (police, including S.W.A.T. team members) were breaking into this house with subpoena in hand because of the reasonable cause to suspect that large amounts of illegal drugs were being sold at this residence.  Unfortunately for the Seller, damage was done to the property by the tenant and the police which now forces the Seller to spend additional monies to go to court to seek economic remedy over this matter.

Incidentally, the police found a considerable amount of “pot” on the  premises as well as confiscating over $100,000 in cash!  Fortunately for the Seller, what would have been even worse is if their residence had been turned into a highly toxic meth lab.  Had that been the case, the entire house may have been required to be razed.  The fine print contained in many Homeowner Insurance policies may even exclude such claims for property damage.

Again, if you are a Seller considering a Lease/Purchase in Middle Tennessee, do your due diligence on prospective Renters/Purchasers.  Even then, know the risks that you are taking in such Agreements.  Have an experienced Principal Broker like me to guide you through complicated real estate proceedings such as what is described in the foregoing.

Buyers Beware… What you don’t do to protect yourself will likely cost you grief and money!

Thursday, July 5th, 2012

As a Principal Broker and someone who is trained to teach real estate in Tennessee, I am in an excellent position to review a large number of real estate contracts.  I doubt seriously if Buyers and in many cases, even their Agents, have a clue as to how many things can actually go wrong in the process;  things that could cause that dream home to be a “money pit” or, at the very least, a source of unhappiness and disappointment for years to come.

For example, how would a new Home Buyer feel when he/she turns in a property damage claim (for roof leak, etc) two months following closing only to learn that their Homeowners Insurance was denying the claim because it was discovered that the previous Owner had pocketed the monies intended for a new roof (but failed to have it replaced).

Other considerations often times overlooked by many Buyers include… how would a Buyer feel when one week before closing a flood certification required by the Lender revealed that flood insurance would be required?  They Buyer has the financial ability to still get the loan but is unhappy with the additional $50-$100/month required for flood insurance and has no ability to terminate their real estate contract because a flood zone contingency was not even considered during the offer negotiation process.

How about this scenario… a Buyer closes on their “dream home” only to learn from a neighbor down the street that they are living next door to a convicted child molester… one who spent seven years in jail for sexually violating a child similar in age to the Buyer’s own children!

Or, how about this… a Buyer just bought a house in the perfect neighborhood but learned three months after closing that a neighbor complained that the subdivisions covenants and restrictions are being violated because the Buyer’s hair salon home business is prohibited!

These and other “unpleasant discoveries” could have been avoided with an experienced Broker who was truly acting in their Buyer client’s best interest by discussing contingencies that could be included in an Offer to Purchase and subsequent Negotiations.

Contact me so that I can help you avoid many of the “problems” described in the foregoing.

Buyers & Sellers, Know the difference between being PreQualified, PreApproved or having a Loan Commitment!

Monday, July 2nd, 2012

Buyers and Sellers often times are confused as to what Lender terms and descriptions really mean (PreQualified, etc).  Why is it important to know the difference?

If you’re a Buyer, you should know that none of the above statuses guarantees that you will obtain loan approval and close a real estate transaction.  For example, to get PreQualified, one only has to call a Lender and after describing income and debts over the phone, the Loan Officer can convey a ballpark estimate of a Buyer’s maximum purchasing power.  Most Lenders prequalify Buyers for free.  This step, at a minimum, is recommended to better ensure that a Buyer is in the right purchase price range that their income would likely support.

A PreApproval step is even better and more reassuring for all, as the Buyer will have had to have submitted documentation and will have their income, credit, and assets all verified.  Typically, a specific loan amount and type will be cited by the Loan Officer.  Again, this step often times is provided at no charge by the Lender and is a highly recommended action to take prior to submission of an Offer to Purchase.

A Loan Commitment is the strongest position that a Buyer can expect to attain through a Lender.  Typically, a conditional commitment letter will be generated 20 days following a contract’s Binding Agreement Date.  That time frame allows ample time to confirm that an appraisal has been ordered, the Buyer has the funds to close, the Buyer’s credit is deemed acceptable to their Lender, and the Buyer has the employment and income necessary to obtain said loan.  It should be noted, however, that even this step is not a guarantee that a Buyer will obtain loan approval.

What could go wrong, you may ask?  Well, many things, such as:  an Underwriter who pulls a final credit report the morning of closing discovers that a Service Provider reported a “slow payment.” Or, a first time home buyer, who became so excited about the prospect of closing on their first home, subsequently purchased $10,000 worth of furniture on their credit card… Oops, the Buyer “forgot” that Underwriters will undergo a final check of their debt to income ratios immediately before closing.  More often, one sees instances where the formally “Solid Buyer” suddenly gets laid off or otherwise experiences a reduction in income (sometimes by occupational injury, illness, etc).

Let me help you (or those you refer to me) through the entire real estate process.

Exercise Care When Asking for or Granting Possession Following Closing

Monday, June 25th, 2012

Buyers and Sellers oftentimes must negotiate possession dates either prior to or after the closing date.  Extreme care must be exercised by all parties so that respective interest are protected.  Let’s first look at this subject from the viewpoint of the seller.

Sellers may want to negotiate a contract with a delayed possession of lets sat three days, to assure themselves that the Buyer was in fact able to close their loan.  Some may have been “burned” in the past when they discovered the morning of the scheduled closing that an Underwriter had denied the loan resulting in the contract going “south”.  The Seller may have incurred a large amount of expenses to move their household goods back into their recently vacated house, ect.  It’s easy to understand that, that scenario could and does happen.

Potential issues for the Seller in a delayed possession start with ensuring adequate insurance for household belonging.  At that point, the Seller is either a Paying or Nonpaying Renter who should have Rental Insurance after closing has occurred.  Further, any such Temporary Occupancy Agreement should be in writing and clearly state such things as:

  1. Is a rental payment expected and if so, what amount?
  2. Will a damage deposit be held by the new Owner and if so, what amount?
  3. What happens if damage ensures after closing but before possession is given?
  4. If damage is caused by the negligence of the Seller (ie grease fire in kitchen) who is responsible for repair?
  5. What party is responsible for Utility costs, ect.?

I’ve seen examples from two insurance company representatives within the same company; one stating damage was covered under the new Homeowner Insurance Company’s policy and another who stated the claim would be denied.

From the Buyers perspective… The Buyer likely would have conducted a final walk through inspection prior to closing to ensure that the property was in the same condition it was in as of the Binding Agreement Data.  However, what happens if someone vandalizes their house or damage occurs due to a hail storm, or the Seller trips and falls one day after closing and breaks their back?  Once again, whose insurance will handle such a matter?

There is also a very distinct possibility that the Buyer would not have discovered a big hole under the couch during the “final” walk through.  When the Buyer takes possession three days later their new “dream home” becomes something very less because of some unknown defects that are now discoverable.  Problem is, closing means closing and remedies may be difficult in these scenarios.

Have a trusted real estate advisor help you avoid mistakes that can cost you thousands of dollars!  Call me today!

Real Estate Career – Part II

Tuesday, February 21st, 2012

 Training, education, and resources at Red Realty are second to none in Middle Tennessee.  Red has the Cutting Edge Technology, innovative web site (that generates leads), iPhone apps, Intranet, EMail System, Prefered Builder Program, IDX leads, Boomtown leads, ect., that provide associates with the maximum ability to not only meet but to exceed clients needs.  There are some 40-50 formal, in house training  classes that are offered during the year, at different times of the day and on weekends to accommodate the varying and busy schedule of it’s Agents.  Additionally, Nationwide Training Instructors like Coach Burt, Jim Goddard and others are available for training sessions throughout the year, at NO ADDITIONAL CHARGE to Red Realty Affiliates!  Bi-monthly, less formal, but equally as effective MAC Meetings, enable real estate training topics and issues to be addressed in a very timely manner.  Better yet, all of this training is FREE to Affiliates, most often, Instructors are volunteers from Red itself, which further demonstrates and gives real meaning to the selfless nature of our company.  There is also a great deal of talent in house.  Many have demonstrated proficiency and success within the real estate profession as Brokers, others have attained multiple advanced real estate Designations and Awards.  Others are successful Builder/Realtors and others have previously owned and successfully managed their own companies.  Some are Real Estate Investors themselves or have developed large scale Residential and/or Commercial properties, while others work closely with Builders  successfully marketing New Construction or holding office and providing leadership for local Government.  Many Red Realty Agents go well beyond the call by volunteering their time and energy to selflessly assist those in need at their Church or in the Community.  Red Realty Agents also have unsurpassed access to ask questions and receive guidance from their respective Managing Broker.  You might be surprised to know that, that is not always the case elsewhere.  In the rare instances at Red when Broker access might be restricted due to schedule conflicts etc., the Owners, Staff and other Red Agents graciously provide help and assistance whenever possible.  That is teamwork personified.  The formal Mentoring Program which also helps to better ensure that new Affiliate(s) have the necessary skill and knowledge to reach their real estate goals is likely to appeal to others considering a real estate company affiliation change.

Real Estate Career – Part I

Friday, February 17th, 2012

 Unlike other companies who seemingly recruit just bodies and who send out propaganda so frequently so as to almost border upon harassment, Red Realty continues to seek out measured growth, with high quality individuals.  Therefore, Red Realty keeps its eyes open for people who are selfless, who are true team players and who sincerely desire to do things the right way, legally and ethically; people with good hearts, if you will.

Our “recruitment” consist of focusing on the positives of Red Realty.  Making disparaging remarks about other Companies, their Agents or their practices is prohibited.  Many have shared instances of certain Agents and Brokers in other companies who are likely to be in violation of the Realtor Code of Ethics due to their unsavory and overly aggressive recruiting tactics or practices.  Not surprisingly, many of those same companies experience very high turnover, as gullible Agents/victims become disenchanted and even angry when things that were promised or represented to be a certain way during their recruitment, turned out to be the polar opposite in actual practice. 

Revenue Sharing which provides the opportunity for residual income each quarter as well as Retirement and Death Benefits from the team that you create and sponsor.  Unlike the limited number of Real Estate Companies who even offer some form of profit sharing, participants themselves state that their “profit sharing” plan is very convoluted, very hard to understand and allegedly, easily manipulated (by their Management), Red Realty’s Leveled Sponsorship Plan, on the other hand, is very easy to understand.  Red Affiliates do not have to attain and maintain a certain commission/sales level to be eligible as is true in one of these types of companies that have “profit sharing.”  Even in a “down” real estate market, Red Realty had distributed well over $100,000 each year to Affiliates participating within the Red Realty Sponsorship Program.

Company Culture which ensures that Affiliates and Staff are surrounded by persons who have excellent reputations and high character.  There are certainly other Real Estate companies that have persons with these same traits, however, many times, those same companies have a large number of Agents and/or Staff that either can not be trusted, have poor reputations, are selfish, unethical, etc.  Red Realty offices are medium in size and better able to facilitate a tighter knit, true family feel.  Decision makers are local, acceptable and able to respond quickly, when necessary, as opposed to some companies that must obtain “approval” from stodgy, bureaucratic. Franchise Companies.  Red Realty truly fosters a caring for one another type of environment.  At Red, there is also a concerted and sincere effort to mesh the needs of the community with the needs of it’s Associates whenever practicable.  You’ll probably come across some agents in other companies who are very open for an office change largely because they are tired of the stress caused by seeing the high frequency of Agent to Agent or Agent to Staff conflicts within their present offices.  Many have simply become disillusioned after seeing the back stabbing, cliquishness and/or seeing favoritism run amok within their current, sick, office environments.  Red Realty, although not perfect, is remarkably free of such drama and internal strife.  In my opinion, Red Realty has one of the best and most positive and pleasant office environments around and is a great place to conduct real estate business. 

Call Lucky Luecke 615.519.4040 for a Confidential Interview today!

Seeking a Way to Better Ensure Continuous Income in Real Estate?

Friday, December 16th, 2011

   Look no further than Red Realty, Murfreesboro, Tennessee.  The reason why Red Realty agents produce among the highest levels of Gross Comparison Sales Income / Agent in Middle Tennessee is the wide ranging business and lead generating opportunities available to its affiliates.

   Red Realty’s Success Sharing Program is quite unique in that it is tied to revenue, not profitability, which often times can be easily manipulated.  Revenue calculations and figures are very easy to understand and therefore result in the desired incentive and motivation for individual participants as well as the company to reach and exceed their goals.

   Red Realty has shared over $100,000 to it’s agents in each of the last two years as a result of it’s extraordinary Revenue Sharing Program.  Many realtors typically experience fluctuating cycles in business income during their career.  Red Realty affiliates love this particular program because it is just one of several things offered which helps to ensure a more steady stream of income.

    Additionally, many real estate companies are in a retrenchment mode as they struggle to cover their expenses due to reduced income levels during this depressed real estate sales market and economy.

   Red Realty, on the other hand, is investing in its people and systems as it continues to grow its business and opportunities for all of its agents.

   Our Preferred Builder Program in and of itself has caused the phone to ring for a number of Red Realty agents whose yard signs dot the Middle Tennessee landscape!  We now have newly constructed homes available for sale in seven new developments with list prices ranging from starter homes from $120,000, to mid range homes in the $160-220k area, to $360k and higher end homes.

   With approximately 150 lots available, Red agents can work existing model homes in new construction developments, sell lots and negotiate pre sale house contracts for buyers or focus on existing home sale business.  Opportunities are abundant!  For further information, call me to find out how a Red Realty affiliation can benefit your real estate career and your quality of life!

Battling the Neighborhood Eyesore!

Tuesday, June 7th, 2011

If you are thinking about selling your Middle Tennessee home but worry about the affect an abandoned home next door might mean to your chances of getting the price you need or want and the time frame needed for a sale, consider the following:

Abandoned homes, at a minimum, can be an unpleasant sight due to overgrown lawns and weeds, boarded up and broken windows, sagging gutters or missing handrails, and unsightly mold.  Then, factor in the increased likelihood mosquitoes and other annoying insects, pesky rodents and the higher risk of fires and vandalism and it’s easy to understand the research findings by the Center for Responsible Lending which states that foreclosures will affect 91.5 million nearby homes by 2012 and reduce property values of these homes by $20,300 per household!

With the “soft” economy, particularly in a Buyer’s market, that “news” is particularly troubling for the typical Home Seller.

Can anything be done to ameliorate this condition for Middle Tennessee Home Sellers?  Yes, first check with applicable City or County officials to see whether nuisance abatement law(s) can be enacted.  If  a “clean and lien ” provision is already on the books,the applicable government agency would be allowed to step in and clean up vacant properties and put a lien on them for the cost of the cleanup.

If there is not an ordinance in place, you might be able to consider the following to alleviate the problem:

If a  Homeowners’ Association is already in place in your neighborhood the HOA may have a provision and the right to have the grass mowed and take care of maintenance issues, and then tack the expense on to the HOA bill, which will have to be cleared by the bank before the property sells.

Check all Local and State laws. Start with your city’s Building and Codes Enforcement Division.  Also, examine Subdivision Restrictions and Covenants for violations.   Fire department can inspect for fire hazards while the police can help if there’s vandalism.

Some states have even enacted laws that can fine owners for not maintaining their properties.  Some laws are in place that place the responsibility onto the Banks for maintaining foreclosed properties from the commencement of the foreclosed process.

In some very rural areas, none of the above suggestions may apply so what can be done then?  Try Making property boundaries clear. On the outside, fences make good neighbors, so does landscaping with evergreen shrubs and tress to block some unpleasant views.  On the inside, turn down plantation blinds ever so slightly to let natural light in but not necessarily the unsightly view.

When all else fails, a Seller can consider contacting the offending neighbor and offering to haul off thrash, weed eat, pressure wash or whatever is needed.  It can be a challenge sometimes to even locate the owner.  You’ll likely be advised not to anything without the express written permission (so as to avoid a charge of trespass and or allegations that you caused damages to the premises).  Be very careful with this last ditch effort to improve the appearance of a nearby nuisance property.  Consult an attorney before doing any work or authorizing work on property that you do not own.

Learn About Some Crazy Tennessee Laws

Wednesday, May 25th, 2011

We’ve all seen or heard about laws that cause us to shake our heads in disbelief.  Some that I find amazing are:

  • Any person crippling, killing or in any way destroying a proud female dog that is running at large shall not be held liable for damage due to such killing or destruction.
  • More than 8 women may not live in the same house because that would constitute a brothel.
  • Driving is not to be done while asleep.

Dyersburg

  • It is illegal for a woman to call a man for a date.

Lenoir City

  • When you pull up to a stop sign you must fire a gun out the window to warn horse carriages that you are coming.

Lexington

  • No one may eat ice cream on the sidewalk.

Knoxville

  • In front of their buildings, all businesses must have a “hitching post.”

Memphis

  • Illegal for a woman to drive a car unless there is a man either running or walking in front of it waving a red flag to warn approaching motorists and pedestrians.
  • It’s illegal for frogs to croak after 11 PM.
  • It is illegal to give any pie to fellow diners. It is also illegal to take unfinished pie home.  All pie must be eaten on the premises.

Oneida

  • An ordinance forbids anyone to sing the song “It Ain’t Goin’ To Rain No Mo’.”

Believe it or not!  I’m happy that Middle Tennessee didn’t make the list…

Market Recap

  • Avg. Sales Price: 172,000

  • Avg. Days on Market: 93

Free Market Alerts

Get local reports delivered to you

 
Ask Me a Question

Do you have questions you need Answered?

Recently Asked Questions
    market alert newsletter

    Get free market reports delivered to you. » Sign up today

    - Copyright © 2010 Inside Real Estate, LLC

    Inside Real Estate does not endorse the agents on this site, and does not guarantee the content submitted by the site's members. Blog and page entries, content, and other information contributed by agents that are members of the site are accountable to the particular agent.