Home Buying in 37129>Question Details

Mr. C, Home Buyer in 37129

Picking a home zoned for either Siegel Elementary, Walter Hill, or Wilson? New contruction or Existing?

Asked by Mr. C, 37129 Thu May 31, 2012

My wife and I are currently renting, trying to save up for a down payment, after selling our home. We definitely want to buy in an area zoned for one of these elementary schools with Siegel being our first choice, followed by Walter Hill, and then Wilson Elementary. I was wondering if anyone had any neighborhoods they would suggest or ones we should avoid? Blessed with a picky wife I know we will be looking for at the least a 3 bedrooms 2 bath 2000sq ft home (preferably brick and preferably 4 bedrooms).
My second question is what does everyone suggest buying existing or building?

Finally, any advice on loans? I think with little saved we would be looking for a FHA loan. Any advice is appreciated

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David Estes’ answer
Check us out at http://www.johncjones.com and watch our videos and use our home search. Harvest Woods is a great subdivision and NO city taxes . You might look into a Rural Developement Loan which has less MIP per month.
Thank you,
David Estes
0 votes Thank Flag Link Fri Jun 1, 2012
710 Woodmont, renovated and soon updated in Murfreesboro is zoned Siegal ES and HS. 2940', 4 BR, 3 Bath . . . More house, less money . . . free $175,000 tree included with purchase. ;p

I live down the street, most convenient, easiest area I've ever lived in, close to everything.
0 votes Thank Flag Link Mon Sep 16, 2013
FHA may be a good choice for you, let your lender guide you based upon your needs. Also, who ever you choose as your lender, be sure to that lender has in-house underwriting. It will make all the difference in the word in getting a timely approval. Also get a pre-approval, which takes out the guesswork of can I buy and makes you a cash buyer in the eyes of the seller for a better deal.

Existing construction is a better deal at less cost for anyone willing to take an existing home. Look for age of roof, CHA unit, and the hot water heater as the most common problem areas with homes over 7 years of age. The CHA lasts about 7 yrs, roof 18 to 30 depending on the type shingle used by the builder, and the hot water heater 7 yrs on electric and all over the map on gas units.

Whether new or existing, hire a licensed home inspector who has more than the ASHI certification. One with an engineering background is best, but you may not get be able to afford one with engineer credentials if you are on a tight budget (an licensed inspector who is also an engineer may cost about $100 more than just a licensed home inspector). If FHA you may be able to roll the cost into the loan- ask the loan officer. At the least they should have a working knowledge of building practices, codes and application of i-beam installation, foundations, electrical, pluming and structural systems in general.

As for neighborhood, look in Thompson Square off Thompson Lane. There are some homes there under $200,000 that include 4 bedrooms and your Siegel Elem. An alternate to 4 bedrooms would be a bonus room that could be used as a bedroom. Since you did not state the price range you needed to be in that is a compromise on pricing between higher and lower housing, is easily accessible to shopping, churches and other amenities. I live near Siegel High and know the area reasonable well. There is a home near me on Northboro Court offered at $199,900 lots of room and zoned for all 3 Siegel schools. You may have options but it depends on your price range.

Let me know if I may assist you. You may take advantage of my 18 yrs experience: I taught real estate contract as a broker manager for 10 yrs, and have far more than the minimum state required education to practice real estate. I am a full licensed broker- I work for you, an affiliate works for the broker. Good luck and feel free to call, 615-848-4918. David
0 votes Thank Flag Link Thu May 31, 2012
Not easy to find something in "triple Siegel" but there are a few. I've got a listing at 3238 Park Hill for $209,900. Great corner lot, huge yard! Anyway, there are some newer neighborhoods that are Wilson Elementary and Siegel Middle/High. Would love to help you find something!
0 votes Thank Flag Link Thu May 31, 2012
Well, there are currently no homes available in the Siegel area, there are 12 homes available in the Walter Hill area and 66 in the Wilson Elementary area as of 5-31-12. This changes daily with the improving market. There are many under contract in these areas. If you email me(casey@tn-home-search.com), I'd be happy to set up a real time update prospector for you that will keep you posted when new homes are listed for sale in these specific school zones. As far as neighborhood suggestions, we'd have to talk so I can get a better idea of your needs with regards to commute, amenities, etc. If you want to avoid crime areas you can use sites like crimemapping.com, etc. to check out those stats. I would suggest driving by some of the current listings that might interest you and spend a little time in the neighborhood at different times of the day to see if you like it. I would start with the homes first, let's go look at the ones you like from what you see online and check out the neighborhoods to see if you like them because what might be a "quiet neighborhood" to one person may be a horrible one to another. It has to be seen from your perspective.

There are pros and cons to buying existing vs. building. You can find great deals on existing homes, but building is, well, new and you can pick out the things you want vs remodeling an existing. It's all in what you want to do. You might find that right house in a great existing neighborhood or you might want that fresh untouched newness of a new construction home. Do you want to go through the hassle of remodeling? How much will it cost? Sounds like you are saving for a down payment which will eat up most of your cash reserves. Will you have the cash to remodel an existing home to make it exactly what you want? If not, maybe new construction is for you. You could find an existing home that's fairly new that has everything you want. I wouldn't rule out either one.

As far as loans, I have a great local contact for you in Murfreesboro. You could go FHA with a small down payment or you could go THDA and get your down payment paid. Both allow for closing costs paid by the seller....as far as I know. I'm not a loan office so I leave it to the pros on that to keep up with the ever changing rules and regs. Call Isabel Elam at 615-569-4103. She's a senior loan officer with Acopia Home Loans. She can put you in a loan product that fits you best as far as what you qualify for and available cash. I think you would be surprised to find out that you may be able to make the move sooner than you think.

In the mean time, email me at casey@tn-home-search.com. Let's get you looking at available listings in these areas online, go view listings that you like at your convenience, narrow down what neighborhoods you want and then narrow it down to THE home you want to offer on.

Casey Baird
615-477-3484 mobile
http://www.TN-Home-Search.com
Reliant Realty
640 Broadmor Blvd. Ste 100
Murfreesboro TN 37130
0 votes Thank Flag Link Thu May 31, 2012
Casey,

I am not sure what your search criteria is but several homes come up for the Seigel area for me when I search. I appreciate the advice.
Flag Thu May 31, 2012
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