Clarksville TN makes Business Week's list of best places to raise your kids:  2010

It was only a matter of time before our great city of Clarksville TN was found out!  I have said for years that Clarksville one of the best kept secrets in Tennessee.  Whether you are a Soldier assigned to Fort Campbell, KY, a Retired Soldier looking to settle down or a private citizen looking for a job in Corporate America, Clarksville is the place to be in Tennessee.

Clarksville offers a great public school system as well as some great private schools, a low cost of living and Clarksville TN Real Estate values have not been inflated, thus keeping the market stable through the recent Real Estate crisis.  Located just minutes to downtown Nashville going East on I-24 and minutes to Land Between the Lakes going West on I-24, Clarksville is the perfect place to raise a Family and to call your home. 

Way to go Clarksville!  To read the article click here:  Best Places to Raise Your Kids: 2010

For more information on Clarksville TN click here:  Clarksville TN Info

To search homes for sale click here:  Clarksville TN Homes for Sale

Yesterday I blogged asking for your vote as Best Real Estate Agent/Team in The Leaf Chronicle Readers Choice Awards after being nominated by some of our clients. While Pam and I are certainly flattered that our clients would nominate us for this award, I must admit a few things:

- I believe that Pam and I are among the best Clarksville Realtors both ethically and professionally.

- I believe that our past client testimonial supports this - we do not doctor nor add to what our clients say.

- I believe there are many great Clarksville Realtors and Clarksville Real Estate teams here and have been proud to work with many of them.

- I DONT believe that this award is anything more than a race to see who can hit the 'Yes' button faster and more often than the other.

- I DONT believe that this award would be a reflection of any Clarksville Realtor's dedication to their clients or their professionalism.

I see this as an experiment of sorts. Again, while Pam and I KNOW that we have provided the utmost to our clients and continue beyond the closing table YOU really do not know whether we are The Best Realtor in Clarksville TN if you have never given us the opportunity to serve you or have never been a referring agent. You can simply take what I write or that of what our clients say to base a decision on should you choose to vote.

Anyone who has followed my writings (I know, some very dull) will see that we are no frills and all about God, Family and caring for our Clients. What you read is really what you get. Those who knew me while I proudly wore the U.S. Army uniform know this was much the same then, with the exception of replacing clients with Soldiers.

My philosophy has been and continues to be:

- Never forget where you come from
- Treat others as you would want to be treated
- You must give respect to earn respect

The above three principles have guided me through life and my darling wife Pam shares much the same philosophy. I believe this helps us not only in life, but in the Clarksville TN Real Estate business. Obviously we have a fondest for assisting Soldiers and their Families who are PCSing to Fort Campbell KY but we place equal emphasis on a Corporate Relocation to Clarksville TN.

So, back to my experiment. My experiment in this contest is really and truly to see how vast an audience my writing reaches as well as how important social networking in today's business environment and age plays a role in your success and failure. If you have become to know Pam and I through our relationship via the internet, our interactions in Clarksville Real Estate or you are a friend, we would certainly appreciate you participating in this.

I am a huge believer in social networking. I believe the more informed one is, the better prepared they are in making decisions that effect their lives and that of their Family and this decade will show how social networking plays a role in this. It has certainly played a large role in our success in the year 2009 as it pertains to Clarksville Real Estate. I thank who have entrusted their Clarksville TN Real Estate needs to The Cash Team and sincerely hope that through our interaction both personally and virtually we will be able to serve a greater audience of Families this year.

If you would like to vote for us as The Leaf Chronicle Readers Choice Awards, simply hit the icon below.

Four Car Garage!

• 2,000 sq. ft., 3 bath, 3 bdrm single story "Ranch with full basement" - MLS® $158,000

Chrisman Hills, Clarksville  -  Large beautiful private lot with wood split rail fence and separate dog run. Just shy of 1 acrce. 3 bedroom, 2.5 bath home with office, hobby room and large entertainment area. Large eat-in kitchen with plenty of cabinet space. 2 fireplaces, water garden, established landscaping and more. Large detached 2car garage + 2car garage in basemt. Take a visual tour!

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It is always great to get feedback from your clients.  Word of mouth and past client feedback has certainly assisted Pam and I in the Clarksville TN Real Estate Market.  This feedback was from a prospect and certainly unexpected but very much appreciated. 

Many times after showing a home or going to a listing appointment we as Realtors never receive a call back or hear from them.  This is one case in which we did and while they did not hire us to represent their Clarksville TN Real Estate transaction, their words are worth more than the sale in our opinion:

I just wanted to send you and Pam an email (very belated) thanking you for showing us the property (without us having a buyers agent). Although we decided that we would need to go with a larger home, and are currently under contract on another house, I’ve been meaning to write you an email for a while, but was just reminded when I checked on militarybyowner.com and saw that the house you showed us was under contract. Congrats!
 
The reason I'm writing is to say that I was very impressed with your job as sellers agents. You were really there to sell the house. Of all the agents we met with that day, you seemed to be the only ones who were really interested in selling your clients' house, rather than getting us as buyer clients. You really put in an effort to sell that house, with the presentation folder, the ad on militarybyowner.com, the great descriptive listing, the great photos, etc. You both were really interested in selling that house, but in a very non-pushy way. I made note of that, and I will definitely mention your name if anyone asks about a good sellers agent.

Again, while we did not get the opportunity to serve this wonderful Family in their Clarksville Tn Home Search we sincerely appreciate their email.  Pam and I work very hard to ensure that we are providing our clients with the level of service that we would expect if we were in the market - this validates that we are on the right path - not perfect by no means, but certainly on the right path.

You know, for me, Real Estate is more than just a paycheck and more than just a business transaction.  Pam and I take our duties as Realtors very serious as real lives are affected either positively or negatively dependent on the service and advice that we provide our clients.  That is a HUGE responsibility and one that should be taken seriously by all in the Real Estate Profession whether you are a Realtor, Home Inspector, Mortgage Broker and even the Insurance Agent.

When you are speaking about a residential real estate, you are speaking of the largest financial transaction that most American Families will make in their lifetime.  You are speaking about a Families home where dreams are supposed to come true, where warm, fond and lasting memories are supposed to originate.  The Christmas, the Birthdays, the Anniversarys, etc.

This is HUGE folks - make no bones about it.  The responsibility that we have is inherently to guide Families and to assist them in finding the best home for the best price when serving as the buyer's agent.  It is not to see how fast we can get them under contract and to the closing table.  The repercussions of screwing this up are far reaching.  Granted, some do not care and granted once you hand over the keys and walk out of the closing room your 'obligation' ends - or does it? 

I like my sleep as I am sure many of you do.  I simply could not sleep at night if I felt that Pam or I did not to everything within our abilities to assure our clients needs were met and their concerns were answered.  I just could not do it - simply not in my nature.  Our obligation doesnt end when the keys are handed over - in our mind it is just the beginning of a long and lasting relationship. One that was build on client's trust and confidence is us as Realtors and as people.

This is one of those 'if the shoe fits - wear it' scenarios.  A lot of times, only the client and Families that were left with questions or left with unanswered calls after they left the closing know which Real Estate professional wears this shoe.  Many feel they have no recourse and sadly many times they do not depending on what issues may arise.  I can guarantee you that this shoe does not, nor will it ever fit my foot or Pam's.

Think about it.  On your journey to be top dog in your area of expertise - SWEAT THE SMALL STUFF.  By doing so, I can assure you that your clients, both past and present will remember you and you will reap the benifits of providing a service that was both personal and professional.  

Sweet dreams

Custom Built Home

• 2,026 sq. ft., 2 bath, 3 bdrm single story - MLS® $250,000

Drakes Cove, Clarksville  -  All brick custom built home. All on one level. Situated on a Cul-de-sac lot with no neighbors behind you. County taxes only - Country living with City conveniences. Detailed trim work, harwood floors and tile. Stainless Steel appliances. This is a must see to appreciate all the detail and upgrades that went into this home.

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Pam and I recently completed a short sale here in Clarksville as the listing agents.  While I usually am very proud of our abilities as a Clarksville Real Estate Team and love to congratulate our buyers and sellers on the recent Clarksville Real Estate transaction, it simply is not the same when it comes to short sales in Clarksville or anywhere else in the Country.

Granted we did receive heart-felt thank yous from the sellers of the property, it simply is not something that you 'congratulate' someone on.  At least not in our minds that is.  Our Short Sale experience has certainly opened our eyes to many facets of the Clarksville Real Estate market and the Real Estate Market country wide (as it does not merely effect Clarksville).

First and foremost, when dealing with a short sale you need to have compassion as many times the circumstances surrounding the short sale are beyond the seller's control.  Many times these events are life changing and significant such as the loss of income, the sudden decline in health, a divorce, death in the family, or as has been seen many times in Clarksville, the PCS of a Family.  Coming to the decision that a short sale situation has become reality is not an easy pill to swallow for any proud person, thus another reason for compassion and understanding.

You will have to be there every step of the way, and many times go above and beyond what you would normally be accustomed to do in a normal listing.  Examples are dealing with the first mortgage holder, second mortgage holder and the owner all simultaneously.  Anyone who has been the listing agent on a short sale can attest that it is not that simple to find the right person with the AUTHORITY to make decisions when working with the banks that hold the mortgage - many long hours, numerous emails, phone messages, etc.  Constant communication with all parties involved.  This takes both patience and persistence as well as compassion when relaying messages from the bank to the owner or being able to empathize with the owner's frustration - being a sounding board of sorts, or a shoulder to lean on in other respects.

Listing agents - prepare your clients.  Let them know up front that the bank ultimately has the final say in short-sales and that the process is not a simple or fast process.  Ensure they realize that it can take months once an offer is submitted until the bank decides whether to approve or disapprove the short sale.  Additionally, ensure they have an exit strategy as while it may take months, the timing is unknown and the approval can come with a closing date within weeks if not days. 

Buyer's agents - same thing as above.  There are many buyers out there who are specifically looking for short-sale properties.  These clients need to understand that the process is time consuming and that the listing price is most likely a price that has been approved by the bank for a quick sale.  Obviously there is room for negotiation, but not overly so.  Again, while it may take months, the decision could come unexpectedly, thus look for a short term or month to month rental if you are relocating from another area.

In the end, our short sale story was a success in that the owners and the bank approved the offer.  Beyond that, Pam and I hope that our clients will quickly rebound from this significant event and know that Pam and I will be there when they need us.  There is a light at the end of the tunnel.

Regards

Tim and Pam Cash
Crye-Leike Realtors
931-338-1375 or 931-436-7617


The Cash Team - Making dreams come true one home at a time. Proudly serving the citizens of Clarksville and the Soldiers of Fort Campbell. To view available Clarksville properties, please visit our website at www.cashsofclarksville.com or www.myclarksvillerealestate.com.  You can also email us at thecashteam@cashsofclarksville.com and we will run a custom search for you. Finding you and yours the perfect property in Clarksville Tennessee and surrounding areas is our goal.

• 1,344 sq. ft., 2 bath, 3 bdrm single story - MLS® $129,900 - Excellent Value

Northmeade, Clarksville  -  Immaculant home with open floor plan. Spacious foyer. Master suite has alot of room with walk in closet. Large spare bedrooms. This home has been meticulously cared for. Convenient to Fort Campbell and I-24.

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• 2,564 sq. ft., 3 bath, 3 bdrm single story - MLS® $288,950

Enclaves II, Clarksville  -  New Construction just completed and move in ready in the Sango area. Hardwood, Tile, Crown Molding, Tray Ceilings, Huge Bonus Room with 1/2 Bath. Stainless Steel Appliances to include Double Oven. Nice Master Suite w/Corner Garden Tub/Separate Shower, and Walk in Closet.

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Lake View Property

• 3,019 sq. ft., 4 bath, 3 bdrm 2 story "Cape Cod" - MLS® $250,000 - Excellent price

Dover, Stewart County  -  You will fall in love with this property. 3 Bedrooms and 2.5 baths in the main living area. Finished area in the basement offers a kitchen and handicap accessible bathroom. Sit on the front porch overlooking the lake or relax in the back by the fire pit. Incredibly beautiful home on 1.88 wooded acres.

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I came across this great site.  All encompassing site for temporary lodging for our Soldiers, Sailors, Airmen and Marines who are on PCS orders to another duty assignment.  Offers links to both off post and on post lodging.  Relatively new site but a great idea - PCS Lodging

If you are on PCS or Military Relocation orders and need a great realtor in the area please feel free to contact us - we have built a great network of Real Estate Professionals who are ready to assist you and your family.  PCS Referral 

Regards

Tim and Pam Cash
Crye-Leike Realtors
931-338-1375 or 931-436-7617


The Cash Team - Making dreams come true one home at a time. Proudly serving the citizens of Clarksville and the Soldiers of Fort Campbell. To view available Clarksville properties, please visit our website at www.cashsofclarksville.com or email us at thecashteam@cashsofclarksville.comand we will run a custom search for you. Finding you and yours the perfect property in Clarksville Tennessee and surrounding areas is our goal.

Deertrail, Clarksville  -  Announcing a price reduction on 814 Turtle Creek Rd, a 1,176 sq. ft., 2 bath, 3 bdrm single story. Now MLS® $125,000 - Great price.

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Cumberland View, Clarksville  -  Announcing a price reduction on 1955 Dinsmore Rd, a 1,184 sq. ft., 2 bath, 4 bdrm single story. Now MLS® $135,000 - 4 Car Garage.

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At first blush, the rule seemed so unfair that it must have been a cruel hoax. First, you lose your house in a foreclosure-perhaps you fell behind in the payments after you lost your job, you got sick, or your husband or wife died. Then the law ordered the IRS to pile on the emotional and financial grief by charging you extra income tax.

Outlandish, perhaps. But, until foreclosures became the symbol of the national financial crisis in late 2007, that was the law. First, a look at the basic rule, then a review of the temporary fix that will benefit hundreds of thousands of taxpayers who find themselves in dire financial straits.

Under general tax law, if the bank forecloses and sells your home for less than the amount left on your mortgage-and forgives the excess debt-the amount forgiven is treated as taxable income to you. That's right; as far as the income tax is concerned, money you don't have to pay back is treated the same way as money paid to you: Taxable in your top bracket. The IRS even has a special form for reporting this "windfall": the 1099-C. The C stands for cancellation of debt and the law says cancelled debt is taxable as income. (There are exceptions, which we'll get into later.)

As a wave of foreclosures began sweeping across the nation in 2007-fueled by the risky loans, rising rates, and a slowing housing market-this arcane rule began to get more and more attention. So did other efforts by strapped homeowners-such as "short sales" or loan restructuring-that can also trigger 1099-Cs reporting taxable income. If a lender agrees to freeze an adjustable interest rate for a period of time rather than allow it to rise as called for in the mortgage, for example, the change can result in forgiven debt that would be taxable under the regular rules.

Congress steps in with relief

To protect homeowners from this double whammy, Congress has declared that when a taxpayer's principal residence is involved, forgiven debt will not be treated as income. For now, this break applies only for 2007, 2008, and 2009. After that, the old rule is scheduled to come back into play. This is a big deal for affected taxpayers. There are limits, of course, and it is important to know what's covered and what's not.

•·         This relief applies only to principal residences, that is, the home you live in. If a lender forgives debt after a foreclosure, short sale or loan restructuring for a vacation home or investment property, for example, the old rule still applies: The amount of debt canceled is considered taxable income to you (unless you qualify for one of the exceptions discussed later). Congress didn't want to offer a helping hand to speculators who helped fuel the housing boom by buying properties in hopes of "flipping" them quickly for hefty profits.

•·         No more than $2 million of forgiven debt can be excluded from income.

•·         To be eligible for the break, the loan must be secured by your principal residence and the money must have been used to buy, build, or substantially improve the property. If part of the forgiven debt was a home equity loan used for other purposes, for example, that part would be considered taxable income.

•·         The tax basis of the home is reduced by the amount of canceled debt excluded from income. The basis is the amount you compare to the selling price of the home to determine if you have a profit or loss. (And, for tax purposes, a foreclosure is treated the same as a sale.) If a loan restructuring results in cancellation of $25,000 of debt, for example, your basis would be reduced by $25,000... potentially increasing by up to $25,000 the amount of profit you realize when you later sell. (The basis reduction will usually have no tax impact, though, because most home sale profit is tax-free.)

1099-C Confusion

While the new law offers important relief for strapped homeowners, it won't prevent lenders who forgive debt from sending out 1099-C forms to taxpayers, with copies to the IRS. It will be up to you to know whether or not the discharged debt reported on the form is taxable or tax free.
The 1099-C must show the amount of debt forgiven and the fair market value of property given up through foreclosure. The IRS urges borrowers to check the form carefully and notify the lender immediately if any of the information shown on their form is incorrect. Pay particular attention to the amount of debt forgiven (Box 2) and the value listed for your home (Box 7).

How short sales work

Sometimes, rather than pursuing the costly and time-consuming process of foreclosure, a lender will allow a delinquent borrower to sell the house for less than the mortgage amount and turn the proceeds over to the bank as payment in full. Say you lost your job and can't keep up payments on your home, you still owe $300,000 on your mortgage but the house value has dropped to $275,000. If the bank agrees to a short sale, you'd sell the place, pay the commission and other selling costs-let's assume $15,000-and turn the remaining $260,000 over to the bank. The $40,000 gap between the payment and the amount due would show up on a 1099-C form. That's right, even the $15,000 of selling expenses gets tossed in with the amount of forgiven debt.
Thanks to the new law, when the short sale in 2007, 2008 or 2009 involves a principal residence, the canceled debt is not considered taxable income.
Banks don't always agree to a short sale-among other things, they look at the gap between the balance on the loan and the expected proceeds of the sale and the homeowner's other assets. Basically, they weigh the cost of a short sale against the cost of foreclosing and selling the property themselves.

Dodging the tax bullet

Even if you're not covered by the new tax-relief rule-say the house you lost was a vacation home rather than a principal residence-there's a very important exception to the debt-relief-equals-taxable-income rule. Although lenders must send 1099-C forms reporting taxable income whenever canceled debt is $600 or more, the tax bill itself is forgiven if you are in bankruptcy or are insolvent.
Insolvency means your debts (including that mortgage) exceed the value of all your assets. You use IRS Form 982 to claim the exclusion.

Updated for tax year 2008. Content provided by Kiplinger, courtesy of TurboTax, a registered trademark of Intuit Inc.

Regards

Tim and Pam Cash
Crye-Leike Realtors
931-338-1375 or 931-436-7617


The Cash Team - Making dreams come true one home at a time. Proudly serving the citizens of Clarksville and the Soldiers of Fort Campbell. To view available Clarksville properties, please visit our website at www.cashsofclarksville.com or email us at thecashteam@cashsofclarksville.comand we will run a custom search for you. Finding you and yours the perfect property in Clarksville Tennessee and surrounding areas is our goal.

Glenstone, Clarksville  -  Announcing a price reduction on 531 Glenstone Springs, a 2,204 sq. ft., 4 bath, 4 bdrm 2 story. Now MLS® $225,000 - Great price!.

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