Tennessee RealEstateRama

Counties chosen for industrial inventory assessment program  NASHVILLE — The Tennessee Department of Economic and Community Development announced today the five counties chosen to participate in the fall round of the Select Tennessee Property Evaluation Program (PEP)

A first-of-its-kind study uses THDA home loan data to identify the impact of homebuyer education classes on default and foreclosure rates. The new study shows the odds of foreclosure were 42 percent lower among participants in THDA’s down payment assistance program who completed a homebuyer education (HBE) class compared to participants who did not.

Tennessee Housing Development Agency will serve as the lead sponsor of Habitat for Humanity’s Jimmy & Rosalynn Carter Work Project in Memphis, Tennessee, taking place Aug. 21-26, 2016. In partnership with Habitat for Humanity of Greater Memphis, local families will build or improve their homes alongside President and Mrs. Carter and hundreds of volunteers. Projects during the week will include new home construction, neighborhood beautification and home modifications for seniors.

U.S. Senator Bob Corker (R-Tenn.), a member of the Senate Banking Committee, released the following statement today after a Federal Housing Finance Agency (FHFA) stress test concluded that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac could require a taxpayer-funded bailout of over $125 billion in the case of a severe economic crisis.

Memphis-area home sales for June increased 5.9 percent from a year ago, with 1,781 total sales recorded in the Memphis Area Association of REALTORS®MAARdata property records database. Sales were up 15.7 percent from May, when there were 1,539 total sales. Average sales price from June-to-June was up 5.2 percent, at $182,206. Inventory increased 1.9 percent, with 5,639 units listed for sale. YTD sales volume increased by 9.8 percent, at $1.34 billion.

As the summer season winds down, college students begin preparations for the fall semester. While some will be first-time students moving into residence halls, many will be moving off-campus and living on their own for the first time. The State Fire Marshal’s Office (SFMO) urges students and their parents to choose fire-safe off-campus housing and discuss fire safety practices in order to prevent potentially life-threatening situations

U.S. Senator Bob Corker (R-Tenn.), a member of the Senate Banking Committee, released the following statement today after authoring a bipartisan letter to the director of the Federal Housing Finance Agency (FHFA). The letter encouraged Director Mel Watt to avoid taking steps that may facilitate the release of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac out of conservatorship without comprehensive reform. Senators Mike Crapo (R-Idaho), Heidi Heitkamp (D-N.D.), Dean Heller (R-Nev.), Jon Tester (D-Mont.), and Mark Warner (D-Va.) coauthored the letter

The Tennessee Department of Commerce & Insurance’s (TDCI) Divisions of Insurance and Consumer Affairs are offering guidelines, tips, and general information to Tennessee homeowners and residents who were affected by the July 7, 2016 flooding

As is tradition, Governor Bill Haslam declared June to be “Homeownership Month” at the request of the Tennessee Housing Development Agency. Part of THDA’s mission is to make homeownership affordable to a wider range of Tennesseans through responsible financing options and the availability of down payment assistance.

The State Fire Marshal’s Office (SFMO) reminds Tennessee communities that a new version of commercial building codes will be adopted and become effective August 4, 2016.