Jim McCormack, a Nashville Tennessee and Middle Tennessee REALTOR and Short Sale and Foreclosure Real Estate Expert, recently closed a Short Sale listing in Murfreesboro TN (Rutherford County) for $110,000 despite the bank valuing the property at $136,400 and an imminent foreclosure date.

Jim McCormack, a Nashville Tennessee and Middle Tennessee REALTOR and Short Sale and Foreclosure Real Estate Expert, recently closed a Short Sale in Spring Hill TN (Williamson County) for $140,000. Jim, a short sale specialist, listed the property and represented the sellers. Jim was able to close the short sale even though the sellers were current on their mortgage payments, were getting divorced and the bank valued the house at a substantially above market price.

Nashville Tennessee and Middle Tennessee REALTOR Closes Short Sale in Murfreesboro TN (Rutherford County). Jim McCormack, a Nashville TN and Middle TN REALTOR, recently closed a Short Sale in Murfreesboro TN for $140,000 despite the original buyer backing out due to financing issues.

FDIC Is Harming Financially Distressed Homeowners and Taxpayers Via Shared Loss Agreements Such As The One With OneWest (Formerly IndyMac)

NAR Housing Affordability Index Useless – REALTOR Group’s Housing Affordability Index Says Housing Has Never Been Unaffordable

7.2 Million Delinquent Mortgages As Of December 2009 – 7.2 Million Mortgage Loans In Default With An Estimated 1.0 Million REO’s

Homes Sales Plunge In December 2009 – Sales of existing (previously occupied) homes declined by almost 17% in December 2009, which is the largest such drop in over 40 years.

Tennessee Unemployment Rises Again – US Unemployment Rises Again – Housing Slumps Again. Tennessee unemployment rate spiked to 10.9% in December 2009 from 10.2% in November 2009.

First-Time Home Buyers Fading
According to this Real Estate Economy Watch article, First-time Buyers Faded in Q4, the percentage share of home buyers that are first-time home buyers has been declining since the peak in October 2009.

Stop Foreclosure in Nashville TN – Short Sale and Foreclosure Help In The Nashville Tennessee Metro Area

Nashville Tennessee and Middle Tennessee REALTOR Successfully Closes Short Sale in Murfreesboro TN (Rutherford County). Jim McCormack, a Nashville TN and Middle TN REALTOR, recently closed a Short Sale in Murfreesboro TN for $120,000 with the buyer paying an additional $1,000 toward the 2nd mortgage.

Middle Tennessee REALTOR Closes Difficult Short Sale in Mount Juliet TN (Rutherford County)

Jim McCormack, a Middle Tennessee REALTOR with Exit Realty Bob Lamb & Associates, recently closed a complex Short Sale in Mt. Juliet TN (Rutherford County) for $300,000 (with the buyer paying an additional $18,000) despite the fact that over $620,000 was owed to 3 different mortgage lenders, there was a title dispute and Fannie Mae (the loan owner) valued the property at $50,000 more than the sale price.

Foreclosures Will Increase Again – Foreclosures will increase in 2010 and 2011.

FHA Loans More Difficult and Expensive

SHORT SALE – 3BR/2BA Single Ranch in Murfreesboro TN

Recession 2 Coming Soon? Paul Krugman, a Nobel Prize winning economist and economics professor at Princeton University, believes that there is about a 30% to 40% chance of a recession in the 2nd half of 2010 and that the chance of growth slowing down enough such that unemployment increases again is more than 50%.

SHORT SALE – 2BR/1BA Condo in Town Center Homes at Lenox Village

SHORT SALE – 3BR/3.5BA Custom Single Home in Springfield TN

Fannie Mae and Freddie Mac Foreclosures Surge – Fannie Mae’s Delinquencies Rise 163 Percent in 12 Months.