CHECK OUT OUR BLOG

Get the latest scoop on all things related to our the real estate industry by reading through our engaging, creative blogs!

 

Jan. 31, 2023

An Overview of Mortgage Buydowns

A mortgage buydown is a financial tool that can potentially lower a borrower’s monthly mortgage payments. It works by having the borrower, lender, or a third party pay an upfront fee in exchange for reduced interest rates during the first few years of the loan. In this blog post, we will explore why someone might consider doing a mortgage buydown and how it works.

 

When Should I Consider Doing a Mortgage Buydown?

Mortgage buydowns are most beneficial to borrowers who plan to stay in their homes for only a few years. This is because with a buydown, the initial interest rate on your loan will be lower than it would have been without the buydown, allowing you to save money on your monthly payments in the short term. However, as time passes and the rate increases back up to its original level, you may end up paying more overall over the course of your loan than if you had not done a mortgage buydown at all.

 

How Does A Mortgage Buydown Work?

A mortgage buydown works by reducing your interest rate for several years after closing on your loan. This reduction is achieved through what is known as “buydown points” which are paid upfront by either yourself (the borrower), the lender, or another third party such as an investor or charity organization. The amount of money paid per point depends on how much you want to reduce your interest rate and how long you want it to stay reduced for—typically ranging from 0.125% up to 2%.  For example, if you wanted to reduce your interest rate by 1%, then you would need 8 points (1 divided by 0.125%). Each point is equal to 1% of your total loan amount and can be used in any combination of percentage reductions that add up to one full point (e.g., two 0.5% reductions).

 

The amount of money saved each month depends largely on how much was paid upfront and how long the reduced rate lasts; however, it is important to keep in mind that while this tactic can help lower monthly payments in the short term, it may end up costing more in total over time if you do not remain in your home for longer than three or four years due to increasing rates over time.

 

A mortgage buydown can be a great way for borrowers looking for relief from high monthly payments or those who plan to move within three or four years of purchasing their home. With a mortgage buydown, you can reduce your interest rate for several years after closing on your loan by paying an upfront fee either yourself, through the lender, or via another third-party organization depending on individual circumstances and preferences. Give Green List Realty a call to discuss both the potential benefits and drawbacks associated with this financial too.

Posted in Buying a Home
Jan. 30, 2023

Exploring the Best Suburbs to Live in Nashville

Nashville has become one of the most popular cities in the US for both tourists and potential residents alike. But with so many great places to choose from, it can be hard to figure out which suburb should be your home. We've done the work for you and compiled a list of some of the top suburbs in the city that provide everything you need - from great schools to beautiful parks.

 

East Nashville

Located east of Downtown, East Nashville is one of the most popular neighborhoods in town. Home to an eclectic mix of people and cultures, East Nashville is known for its vibrant music scene, unique restaurants, and cool shops. It’s also a great place for families due to its excellent school system and proximity to several parks. Plus, there are plenty of affordable housing options here compared to other parts of town.

 

Hillsboro Village

If you're looking for a quieter neighborhood with easy access to downtown, Hillsboro Village may be perfect for you. Located just minutes from downtown, Hillsboro Village offers all the amenities associated with living in a big city - like great restaurants, trendy boutiques, and plenty of nightlife - without having to deal with all the hustle and bustle. Plus, there are plenty of parks nearby as well as walking trails along Richland Creek Greenway.

 

Bellevue-West End Neighborhoods

The Bellevue-West End area is quickly becoming one of the most sought-after areas in all of Nashville due to its diverse population and convenient location close to downtown. There are plenty of things to do here including shopping at local boutiques or catching a show at The Grand Ole Opry House. And if you're looking for something more outdoorsy – there's no shortage of hiking trails nearby either! Plus, due to its proximity to downtown there's easy access to public transportation making commuting a breeze!

 

Whether you’re looking for an urban oasis like East Nashville or a suburban paradise like Hillsboro Village or Bellevue-West End Neighborhoods – there’s something perfect out there waiting for you in Music City! From excellent schools systems and beautiful parks to unique shops and trendy restaurants – it’s no wonder why people are flocking from around the country (and world!) To make their homes here in Nashville! So what are you waiting for? Pack your bags and give Green List Realty a call because Music City is calling your name!

Posted in Community News
Jan. 25, 2023

What You Need to Know About Realtor Fees

When it comes to buying or selling a home, there are a lot of costs and fees associated with the process. One such fee is the realtor fee. But what exactly is a realtor fee? In this blog post, we’ll cover everything you need to know about realtor fees so that you can make an informed decision when it comes time to buy or sell your home.

What Is a Realtor Fee?

A realtor fee is the commission fee paid by either the buyer or seller (or both) for working with a real estate agent. It is usually calculated as 3% percent of the listing price of the property. 

 

Who Pays Realtor Fees?

Typically, it is the seller who pays the realtor fees for both their own agent as well as any agents representing potential buyers. However, there are instances where buyers will pay for their own agent’s commission in addition to other closing costs associated with purchasing a home. Ultimately, how and when these fees are paid will depend on negotiations between all parties involved in the transaction.

 

How is Green List Realty different?

Working with a real estate agent at Green List Realty will save you thousands of dollars compared to working with other real estate agents. Green List Realty does not charge the industry standard 3% fee. We charge a flat fee of $5,000 - regardless of what the list price of your home is! Our team will help you find out what your home is worth, take professional photos, list it on MLS, Zillow, Trulia, Redfin, negotiate and other websites, document all paperwork and contracts, then sit with you at the closing table as we celebrate making your house dreams come true!

 

Are Realtor Fees Worth It?

Other realtor fees can seem expensive. To be honest, it's because they are! Green List Realty can provide a better solution to realtor fees and provide an invaluable service while saving you thousands of dollars that help protect both buyers and sellers throughout their transactions. We provide expertise in navigating local market trends and regulations, negotiating pricing and terms of sale, and helping ensure that all parties involved get what they want out of their transactions. Ultimately, you will save time, money and stress by allowing Green List Realty to provide the professional guidance throughout the entire process.

Posted in Selling Your Home