Restaurant Review: Yolo's

Posted on February 3, 2010 by Kenny Silva

I’m always down to try something new, so when Yolo’s opened back in October, I made a mental note and put it on my list.
I wish I didn’t hadn’t waited until tonight to try it!

I’ve heard mixed reviews, so I went in a little apprehensive. Well, I really enjoyed it. Maybe not my favorite spot in Nashville, but definitely worth tossing in to the rotation. The atmosphere had a cool, modern vibe to it. Plenty elegant, but completely unassuming.

My guest and I each started off with a caesar salad. It was a nice little starter. The romaine was fresh. There were sun-dried tomatoes in it, which I don’t find too often in a caesar… but they worked! The dressing was a tad bit boring for me… but it was still a great little salad.

For dinner, I ordered the Santa Fe Chicken. It was a grilled chicken breast topped with jack cheese, corn, black beans, tortilla strips, and a southwestern ranch sauce. To go with that, I had a loaded sweet potato. It was “loaded” with butter and cinnamon, which was a beautiful thing.

The chicken was cooked nicely; a little charred on the outside yet still moist on the inside, which is how I like it. The rest of the ingredients really complemented the chicken and created the whole southwest vibe. I wish it was a little bigger, but it was still a great tasting plate. No dessert for me tonight. I’ve never had a big sweet-tooth. Not to mention, my metabolism is not what it was when I was a teenager.

As far as price goes, I paid $30(with tip) for a Sierra Nevada Pale Ale, salad, and entree. That’s not terribly expensive for dinner in Nashville, imho.

In conclusion, it was a great atmosphere with pretty good food. Having previously worked in the restaurant industry for years and years, I’m pretty demanding. I’d probably give it a 7 out of 10. Like I said, not my favorite in Nashville, but I’ll definitely be back in the future.

Time to Get Cracking, First Time Home Buyers!

Posted on January 16, 2010 by Kenny Silva

You have to have your new home under contract by April 30th if you want to claim the $6500 or $8000 tax credit.

“Yea. Sure. Okay. They’ll just extend it again.”

Have you heard or thought that lately? Here’s the thing about that… It’s probably not getting extended.

“Fine, it’s not getting extended. I still have plenty of time before I need to even think about it.”

How much time did you spend shopping for your last car? If you’re like me, it took a few weeks. Now go ahead and multiply the gravity of that decision by about 10…

So, how long do you need before you find the right house?

Buying a house is no joke. It takes planning and careful consideration.You don’t want to rush it!

Before you know it, the first few months of the year will have slipped by and you’ll be clamoring to find the right house and get it under contract before the deadline arrives.

Those types of situations usually lead to a bad house, bought at a bad price with bad terms.
An $8000 tax credit is worthless if you overpay $10,000 for the house.

You want to find a great piece of real estate on your own time line and get it on your terms.

I’ll be happy to teach you all about what that looks like. All it takes is a phone call and a cup of coffee.

Think about it

Kenny Silva
Real Estate Consultant

Silva Real Estate Group
www.thesilvagroup.net

Cell:(615)336-6638
Office:(615)425-3600
Fax:(615)690-8721
Email:kenny@thesilvagroup.net
Facebook:http://bit.ly/7ZU3cI
Twitter:http://www.twitter.com/kennysilva
LinkedIn:http://www.linkedin.com/in/silvareg
WordPress:http://silvareg.wordpress.com

Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215

Don't File Your Taxes Just Yet! Get your $8000 Tax Credit Sooner

Posted on January 14, 2010 by Kenny Silva

I’ll make the disclaimer up front that I am not an accountant.

All of this information should be verified with your personal tax professional before you take action.

The IRS has stated that you can claim the $6500 or $8000 tax credits on your 2009 taxes, even if you purchase a home in 2010! (Review the reference material below.)

Think about that.

You’re a qualified first time home buyer. You go out today. Find a house. Write a contract. Close next month.

Then, you file your taxes 2009 (claiming your $8000 credit) with whatever flavor tax preparer you prefer.

You get a refund check a few weeks later including your refundable tax credit! …ka-ching!

To those planning to buy something this Spring,

Before you get ambitious with filing your taxes right away, talk to your accountant about your home purchasing plans and see if you can cash in on that $8000 ($6500 for repeat buyers) this Spring.

To those not planning to buy something this Spring,

You’re missing out!!!!! The general consensus is that Congress will let the tax credit expire this time.

Check it out. You can get that money this Spring. If not, you’ll be waiting a whole year for it!
$8000 today is worth a whole heck of a lot more than $8000 a year from now.

Think about it.

Kenny Silva
Real Estate Consultant

Silva Real Estate Group
www.thesilvagroup.net

Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215

Straight from the National Association of Home Builders
http://www.federalhousingtaxcredit.com/faq1.php#21

If I’m qualified for the tax credit and buy a home in 2009 (or 2010), can I apply the tax credit against my 2008 (or 2009) tax return?
Yes. The law allows taxpayers to choose (“elect”) to treat qualified home purchases in 2009 (or 2010) as if the purchase occurred on December 31, 2008 (or if in 2010, December 31, 2009). This means that the previous year’s income limit (MAGI) applies and the election accelerates when the credit can be claimed. A benefit of this election is that a home buyer in 2009 or 2010 will know their prior year MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount.

Taxpayers buying a home who wish to claim it on their prior year tax return, but who have already submitted their tax return to the IRS, may file an amended return claiming the tax credit using Form 1040X. You should consult with a tax professional to determine how to arrange this.

Straight form the Internal Revenue Service:
http://www.irs.gov/newsroom/article/0,,id=206291,00.html

Q. Which home purchases qualify for the first-time homebuyer credit?

A. Any home purchased as your principal residence and located in the United States qualifies. You must buy the home after April 8, 2008, and before May. 1, 2010 (with closing to take place before July 1), to qualify for the credit. For a home that you construct, the purchase date is considered to be the first date you occupy the home.

Normally, taxpayers (including spouse, if married) who owned a principal residence at any time during the three years prior to the date of purchase are not eligible for the credit. This means that you can qualify for the credit if you (and your spouse, if married) have not owned a home in the three years prior to a purchase. However, a long-time homeowner can also get the credit for a qualifying replacement home purchased after Nov. 6, 2009. To qualify, you must have owned and used the same home as your principal residence for at least five consecutive years of the eight-year period ending on the date you by your new principal residence.

If you make an eligible purchase in 2008, you claim the first-time homebuyer credit on your 2008 tax return. For an eligible purchase in 2009, you can choose to claim the credit on either your 2008 or 2009 income tax return. For an eligible purchase in 2010, you can choose to claim the credit on either your 2009 or 2010 return. (11/19/09)

OPEN HOUSE Sunday 1/17 2-4PM – 6769 Cold Stream Drive Nashville, TN 37221 4 BR 3 BA 4000 Sq.Ft. $339,900

Posted on January 14, 2010 by Kenny Silva

Here’s where I’ll be this Sunday!

Property Features
Single Family Status: Active Area: 2 County: Davidson Subdivision: Poplar Creek Estates Year Built: 2005 4 total bedroom(s) 3.5 total bath(s) 3 total full bath(s) 1 total half bath(s) 10 total rooms Approximately 4060 sq. ft	Type: Newer home (0-5 yrs) Master bedroom Living room Dining room Kitchen Basement Master bedroom is 13×20 Living room is 16×20 Dining room is 11×13 Kitchen is 13×20 Basement is 1350	Fireplace(s) 2 car garage Heating features: Central, Gas Central air conditioning Community recreation facilities Community swimming pool(s) Approximate lot is 71 X 120 Approximately 0.2 acre(s) Lot size is less than 1/2 acre Elementary School: Harpeth Valley Elementary Jr. High School: Bellevue Middle School High School: Hillwood Comp High School

Interior Features

Carpet, Eat-in kitchen, Finished basement, Fireplace(s), Security features, Stove, Tile flrs, Wood flrs

Exterior Features

Deck, Fenced, Lot is less than 1/2 acre, Porch, Public sewer srvc, Public water supply

Property Listed By:

Curtis Groves

(615)425-3600

Keller Williams Realty

30 Burton Hills Blvd Suite 175

Nashville,TN 37215

203k Loans – FHA's Dirty Little Secret

Posted on January 11, 2010 by Kenny Silva

No, FHA, isn’t hiding anything from you. It’s just that I don’t hear too many people talk about this program.

203k is a program offered by FHA that allows you to borrow extra money to make necessary repairs on your new home.

-> Think a few months ahead to the impending release of foreclosures onto the market.<-

Banks own so many properties right now that they don’t know what to do with them. When they finally decide to unload these properties, you’re going to see a ton of “fixer-uppers” on the market.

Foreclosures offer great opportunity to find some really killer deals. However, they are usually sold AS-IS. So, good luck getting the bank to repair anything.

Still, the great deals will be there.

Why pass up a superbly under-priced property just because it needs a little love?

Re-enter the 203k loan. Let’s look at this example: (we’ll use nice round numbers to keep it simple)

You find a home for sale that you’d like. It’s priced at $80,000 because it needs some work. In good condition, it could sell for $100,000 easily.

You determine that the house will need about $10,000 in repairs to get it up to speed.
You put in an offer on the house and get it under contract for $80,000.
You get two contractors to bid on the work as part of the process.
You apply for your loan to cover the purchase price and rehab costs. (Minus down payment and seller concessions.)
The bank will order an appraisal on the house. The appraiser will assess what the value will be AFTER repairs.
The lender works their magic. You get approved for a $90,000 loan.

Long-story short, you got yourself a home for $80,000, used a government sponsored loan program to get it up to good condition for $10,000 additional, and now you have a $100,000 valued home that you can move into and enjoy.

Ka-ching?… yes, ka-ching.

As with any government program, there are plenty of details that are case-dependent, so check out the link below.

http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm

This is a great program that is really under-utilized in my humble opinion. Check it out. Get some knowledge. Talk to me.

Think about it.

Kenny Silva
Real Estate Consultant

Silva Real Estate Group
www.thesilvagroup.net

Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215

Open House Sunday 1/10/09 2-4PM – 5376 Village Way Nashville, TN

Posted on January 8, 2010 by Kenny Silva

Come and see us at 5376 Village Way Nashville, TN on Sunday!

Immaculate Home w/ Private Fenced Backyard, New Hwoods & Carpet, New Master Bath w/ Subway Tile & Hexagon Floor Tiles, New Lighting, Custom Paint & Closets, New Fireplace & Windows, Walk-in Storage Under House, Pull down Attic Storage, Mature Trees

Listing Details

Status List Price	For Sale $169,900
Listing Type	Resale
MLS/Source ID	1132485
Lot size	0.18 acres
Bedrooms	3
Baths	2
Price/sqft	$127
Year built	1986
Days on Trulia	59
ZIP code	37211
Neighborhood	Villages of Brentwood

Listed By Allen Perry
The Perry Property Group
Office – 615.425.3627
Fax – 615.690.9646
allen@nashvilleonthemove.com
www.nashvilleonthemove.com
Keller Williams – Green Hills
30 Burton Hills Blvd Ste. 175
Nashville, TN 37215

Nashville December Home Sales Increase over 13%!!

Posted on January 7, 2010 by Kenny Silva

The following information was provided by Don Klein at the Greater Nashville Association of Realtors:
My own interpretations will be in italics.

DECEMBER HOME SALES INCREASE OVER 13 PERCENT

4th Quarter Shows Significant Increase; Year-end Status Improves Dramatically From Mid-Year Conditions

There were 1,612 home closings in Greater Nashville during December, representing a 13.3 percent increase from the 1,422 closings reported during December of 2008. More people are buying houses! That’s great for buyers because it means that mortgage loans are becoming more accessible. It’s good for sellers because inventory is decreasing and putting a little more power back in their hands.

During the 4th quarter there were 5,730 closings in the region, which is a 29.8 percent increase over the 4,413 closings in the 4th quarter of 2008. More closings = less deals falling apart due to unavailability of financing and other contingency factors.

And, there were 21,183 closings at year-end for 2009, which is 12.6 percent lower than the 24,246 closings for 2008. Could be dismaying, but we have to account for the lack of activity at the beginning of 2009.

The median residential price in December of this year was $164,000 and for a condominium the median price was $149,900. That compares with median prices of $163,750 and $132,062 respectively in December of last year. And, there were 1,339 sales pending at the end of December 2009, compared with 1,250 at the end of December of 2008. Prices are stabilizing and more contracts are being written.

Inventory is down to 20,774, compared with 21,274 in December of 2008. Power is shifting back ever so slightly to the sellers.

From Kenny,

This information is encouraging to say the least.

Activity is being spurred, in part, by the First Time Home Buyer Tax Credit, as well as low interest rates.Both of those incentives are, however, on their way out much more quickly than you may realize. The time to act is now!

Let’s get together and talk about your options.

Think about it.

Kenny Silva
Real Estate Consultant

Silva Real Estate Group
www.thesilvagroup.net

Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215

What on Earth are you talking about??? – Real Estate Jargon Defined

Posted on January 6, 2010 by Kenny Silva

Welcome back!

Ever listen to people talk about real estate and have no clue what they’re saying?

It’s like they’re speaking another language, right?!?

Admit it… No one is going to judge you… I didn’t understand most of it until recently.

Maybe you have friends who are searching for a house and looooove to talk about it.
Maybe you’ve been watching stories on the news about the housing market.

Glaze over this list from the FTC for a few minutes and give yourself a little brush-up on the terms.

Federal Trade Commission – “Talking the Talk”

Now you’ll be better equipped the next time you find yourself in a real estate conversation.

If you want a little more information, I’m always available for a cup of coffee.

Think about it.

Kenny Silva
Real Estate Consultant

Silva Real Estate Group
www.thesilvagroup.net

Keller Williams Realty
30 Burton Hills Blvd Suite 175
Nashville, TN 37215

Each office independently owned and operated.

How Do I Get There?

Posted on January 5, 2010 by Kenny Silva

It’s 2010. You’ve got goals and dreams, but how do you get there?

For me, I see a beautiful house on a hill and a family with a few cars and a dog in the background.

Typical, blue-collared American dream right?

But how do I get there?
Easy. Have a plan and stick to it. My plan centers around real estate, but not as my occupation, as an investment.

When I work with first-time home buyers, I make it a point to relate to them that their first house will not be their last.

You buy one, build some equity, use that equity to move up a few years later… And so on and so forth…

Play your cards right, manage your money well, pay extra on your mortgage and 20-30 years down the road, you’re sitting in your dream house. Best of all, it’s probably paid for!!

Houses = forced savings accounts. Let’s not forget that, historically, home prices appreciate at a rate of about 5% a year over the long-term.

Think about the freedom of having a valuable home with no housing payments. How secure would you feel? How much more flexibility would you have with your income?

Would you rent it out and buy another one? You could. You’d make that much more money in the process.

If you haven’t read it yet, The Automatic Millionaire by David Bach really spells out how to achieve your dreams and financial independence in this nearly automatic way.

Check out David Bach’s work at:
http://www.finishrich.com/books/automatic_brandhome.php

Why am I telling you about this?
It’s in my best interest to help you purchase a home, but I’m not too concerned about my interests with this post. It’s really about helping you do something to secure your future.

What if I told you that for the $700 a month you’re paying in rent right now, you could be paying $700 to own a condo down the street?

Would you continue to pay that money on your landlord’s mortgage, or would your start paying it on your own mortgage?

Mull it over. Give me a call if you feel like taking a huge step towards financial peace and freedom.

P.S. Interesting fact from the National Association of Realtors:
The average homeowner’s net worth is $231,000.
The average renter’s net worth is $5100.

Think about it.

Kenny
(615)336-6638

The Silva Group

Helping You Move Forward | East Nashville Real Estate

Tag Archives: kenny silva

Restaurant Review: Yolo's

Don't File Your Taxes Just Yet! Get your $8000 Tax Credit Sooner

OPEN HOUSE Sunday 1/17 2-4PM – 6769 Cold Stream Drive Nashville, TN 37221 4 BR 3 BA 4000 Sq.Ft. $339,900

Property Features

Single Family

Type: Newer home (0-5 yrs)

203k Loans – FHA's Dirty Little Secret

Open House Sunday 1/10/09 2-4PM – 5376 Village Way Nashville, TN

Listing Details

Nashville December Home Sales Increase over 13%!!

How Do I Get There?