First-Time Home Buyers Fading

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. The cause of the October 2009 peak was the first-time home buyer tax credit, which got a large number of first-time home buyers off the fence. I have been saying that the extension and expansion of the tax credit would not produce the same results since most of the remaining firs-time buyers that did not buy when the original tax credit was announced either cannot buy now or won't buy now (at least without an even larger tax credit/incentive). Unfortunately, many of the first-time home buyers who purchased homes due to the tax credit will end up in foreclosure since most had little or no money for a down payment and as a result are already underwater. They thought they were getting a good deal, but were really duped into buying in the face of a declining market. This is just another case of fleeting government market propping which will ultimately fail - and result in more foreclosures and short sales. Be smart and buy only distressed properties (at a substantial discount) to guard against future price declines.

If you are a home buyer or real estate investor in Middle Tennessee who is interested in purchasing a Fannie Mae foreclosure, a Freddie Mac foreclosure, bank foreclosure or REO, a short sale, home, investmenr ptoperty, condo, or other distressed real estate in order to get a great home or investment property at an attractive price without dealing with the difficult REO/foreclosure listing agents and you want aggressive and professional buyer representation, please contact me, or visit my website Search the Middle Tennessee MLS - Find Middle TN Short Sales, Pre-foreclosures, Foreclosures & REO's so that you can find foreclosures, short sales and other distressed real estate and homes in Middle TN. I help home buyers in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Springfield TN, Gallatin TN and Mt. Juliet TN).

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

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


Attention Middle Tennessee Homeowners, Property Owners, Condo Owners, Real Estate Investors, Commercial Real Estate Owners, Home Builders and Real Estate Developers - Get Expert Help and Assistance from a Middle Tennessee Distressed Real Estate, Short Sale, Pre-foreclosure and Foreclosure REALTOR, Real Estate Expert & Real Estate Professional - Get Middle TN Short Sale and Loan Modification Help and Assistance


This Middle Tennessee real estate blog is focused on helping homeowners (single homes, high end homes, luxury homes, executive homes & estate homes), condo owners, property owners, real estate investors, commercial real estate owners, home builders and real estate developers in Middle Tennessee who have defaulted in their mortgage payments, know they cannot pay their mortgages, are in foreclosure, and/or who need expert help and assistance with a real estate short sale (i.e. where the property value is worth less than the mortgage debt). My website is designed to provide assistance to and help, inform and educate financially distressed real estate sellers, short sale sellers and pre-foreclosure sellers and consumers on how to best solve their Middle Tennessee real estate problems in the quickest time possible. The articles and tools throughout this website are FREE, with zero strings attached.


My name is James W. McCormack (people call me Jim McCormack). I am a Middle Tennessee Distressed Real Estate, Short Sale, Pre-foreclosure and Foreclosure REALTOR and Real Estate Expert. I am a 10+ year real estate sales veteran and full-time real estate professional who specializes in helping people and businesses solve their real estate problems. I focus on distressed real estate, short sales, pre-foreclosures, foreclosures and investment properties in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Real Estate Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, commercial real estate owners, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in and around Middle Tennessee. Reasons why you would need to do a real estate short sale include losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.


This website helps you to search for and find houses, homes and real estate in Middle Tennessee including distressed homes and listings, short sale homes and listings, pre-foreclosure homes and listings and foreclosure homes and listings in Middle Tennessee (Rutherford County Tennessee, Williamson County Tennessee, Davidson County Tennessee, Robertson County Tennessee, Maury County Tennessee, Murfreesboro Tennessee, Smyrna Tennessee, La Vergne Tennessee, Eagleville Tennessee, Lascassas Tennessee, Rockvale Tennessee, Christiana Tennessee, Brentwood Tennessee, Franklin Tennessee, Nashville Tennessee, Belle Meade Tennessee, Nolensville Tennessee, Spring Hill Tennessee, Gallatin Tennessee, Springfield Tennessee and Mt. Juliet Tennessee).
I am a Middle Tennessee REALTOR and real estate expert who is here to help you out of your financially stressful situation. Please contact Jim to discuss your particular real estate situation or problems. Jim almost always return phone calls and emails within 1 business day.


I provide the following real estate services:

Specialty and Challenging Real Estate (Sales, Consulting & Leasing):
     1. Physically Distressed Properties (i.e. fixer uppers, rehab properties, handyman specials, etc.).
     2. Foreclosures.
     3. Pre-foreclosures (i.e. Notice of Default, etc.).
     4. Short Sales (i.e. where the sale price is not enough to pay off the mortgage(s) and other liens.).
     5. Bank Owned Real Estate (i.e. REO's).
     6. Divorce Sales.
     7. Estate Sales.
     8. Abandoned and Vacant Properties.
     9. Rental Homes and Properties (Leasing and Consulting).
    10. Lease Option/Lease Purchase Homes (Sales, Leasing & Consulting).
    11. Other Difficult Situations.


Commercial and Investment Real Estate (Sales & Leasing):
     1. Small Multifamily Properties (2-4 units).
     2. Apartment Buildings (5+ units).

I am a Tennessee Licensed Real Estate Broker, REALTOR and Real Estate Expert who will help guide you out of your difficult financial and real estate situation. Be wary of so-called "angel investors" who promise to help you by buying your home, etc. Some even promise to rent your home back to you, which is not permitted according to the terms of most lender short sale approval documents and letters. Even if you can rent your home back from the investor/buyer the terms of the lease frequently make it very difficult for you to abide by the lease terms resulting in the investor throwing you out of your home. These investors are not licensed and are not bound by any ethical rules. Their goal is to buy your home (cash or terms) for as little as possible and get the best deal they can without any regard for your situation. They do not care about what happens to you. You can avoid this by contacing me to help solve your Middle Tennessee real estate problems. See these links below for some things to watch out for with these so called "angel investors":

• http://www.associatedcontent.com/article/371800/mortgage_rescue_companies_a_foreclosure.html
• http://www.nydailynews.com/news/2007/10/21/2007-10-21_angels_hit_desperate_homeowners_with_for.html
• http://www.usatoday.com/money/economy/housing/2007-11-08-foreclosure-scams_N.htm

Quick Links

• Find Out How Much You Can Sell Your Home For - Free
• Learn What the House Next Door Sold For!
• View Our Exclusive Featured Listings
• ATTENTION HOME OWNERS: Are You In Foreclosure, Scheduled for Foreclosure Sale/Auction, or Unable to Pay Your Mortgage?

Search Middle Tennessee MLS Listings 

Find Middle TN Real Estate, Houses, Homes, Townhomes, Condos, Building Lots, Farms & Land
Find Short Sales, Pre-foreclosures, Foreclosures, REO's, Bank Owned Properties, Fixer Uppers & Other Distressed Real Estate

You can find great local real estate information about homes, condos, investment properties, short sales and foreclosures in Middle TN (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN). Jim helps homeowners, condo owners, property owners and commercial real estate owners who are in foreclosure or who owe more than their homes, condos, investment properties or commercial properties are worth. Jim provides the latest news on foreclosures, pre-foreclosures, short sales, loan modifications, the overall real estate market and more. Jim McCormack is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.

Middle Tennessee REALTOR Closes Short Sale in Murfreesboro TN (Rutherford County)

Middle Tennessee REALTOR Closes Short Sale in Murfreesboro TN (Rutherford County)

Jim McCormack, a Middle Tennessee REALTOR with Exit Realty Bob Lamb & Associates, recently closed a Short Sale in Murfreesboro TN (Rutherford County) for $120,000 (with the buyer paying an additional $1,000 to the 2nd mortgage owner). Jim, a short sale specialist, was brought into the sale transaction immediately after the listing REALTOR obtained an executed purchase agreement. Jim obtained short sale approval in about 3 weeks, which is very fast. The seller was very happy and relieved to be out from under this home that they could no longer afford.

Short Sale and Foreclosure Help and Assistance in Middle Tennessee. If you are a Nashville Tennessee, Franklin Tennessee, Brentwood Tennessee, Nolensville Tennessee, Spring Hill Tennessee, Murfreesboro Tennessee, Smyrna Tennessee or La Vergne Tennessee homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN). If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Middle Tennessee Short Sale and Foreclosure REALTOR and Real Estate Expert.

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

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. The property was a listing of another REALTOR in the same office. Jim was brought into the sale transaction after the listing REALTOR spent 4 months trying to get the short sale approved. After Jim got involved the sale closed in about 3 months. The seller was released from all debts. The seller was very happy and relieved to be out from under this failed new construction/investment home.

Short Sale and Foreclosure Help and Assistance in Middle Tennessee. If you are a Nashville Tennessee, Franklin Tennessee, Brentwood Tennessee, Nolensville Tennessee, Spring Hill Tennessee, Murfreesboro Tennessee, Smyrna Tennessee or La Vergne Tennessee homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN).  If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Middle Tennessee Short Sale and Foreclosure REALTOR and Real Estate Expert.

Foreclosures Will Increase Again

Foreclosures Will Increase Again

According to this RealEstateEconomyWatch.com article, ’09 Foreclosure Binge to Produce Hangover in ‘10, despite foreclosures hitting a new record in 2009 (21% more than 2008 and 120% more than 2007), foreclosures will actually increase in 2010 and 2011 as a result of regulatory and lender delays which artificially reduced the number of foreclosures in 2009. the article states "In fact, the delay in processing foreclosures due to loan modification programs, moratoria and a system overwhelmed by the sheer volume of properties was the only reason the number of 2009 foreclosures was not greater." I guess we are going from bad to worse. No surprise here since I have been saying this for some time. Although the real estate market in 2009 was bad, it was artificially propped up and will get even worse in the next few years (see Our Phony Real Estate Market). As a result of this acceleration of the decline there will be more short sales and foreclosures in 2010-2011 and beyond.

Short Sale and Foreclosure Help and Assistance in Middle Tennessee. If you are a Nashville Tennessee, Franklin Tennessee, Brentwood Tennessee, Nolensville Tennessee, Spring Hill Tennessee, Murfreesboro Tennessee, Smyrna Tennessee or La Vergne Tennessee homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR and Expert. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN).  If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Middle Tennessee Short Sale and Foreclosure REALTOR and Real Estate Expert.