In the Bartlett real estate market, grabbing properties before your competition is essential for making the best deals. Although real estate investors sometimes go the traditional route and seek bank loans, the process is anything but speedy.
When time is of the essence, waiting for the lengthy process of getting approval is not an option for most investors. Bartlett hard money lenders specialize in providing hard money loans which provide quick funds to investors. These loans are for a non owner occupied property or in some cases for business purpose loans.
Bartlett Hard Money Lender FAQ’S
Below are some of the most frequently asked questions we get regarding hard money loans and lenders in Bartlett.
What Do Bartlett Hard Money Lenders Specialize in?
Bartlett hard money lenders specialize in providing short-term, creative financing for real estate investors. If you seek a conventional lender to purchase an investment property, your loan request will be based on the property’s value and your assets. Your credit score, job, and finances will be scrutinized intensely. Hard money lenders base their final loan decisions on the after-repair value. The ARV represents the potential value of a property after all repairs have been accomplished.
What are the Benefits of Bartlett Hard Money Loans?
Bartlett hard money loans offer advantages that traditional banks cannot. Lenders like Acamnet Financial offer a higher level of flexibility than banks. When qualifying for this type of loan, lenders do not delve too deeply into the finances of real estate investors. In most cases, simply present the property and your plans, which saves you the hassle of gathering countless financial documents.
Do Bartlett Hard Money Lenders Look at my Credit Score?
One of the greatest benefits of working with Bartlett hard money lenders is the lack of credit score requirements. One of the first things a bank does is check your credit score. You can get approved for a hard money loan in Bartlett even if you have bad credit or poor credit, bankruptcies, and foreclosures in the past. Bartlett Hard money lenders primarily care about the property you are purchasing.
What is the Interest Rate & Points for Hard Money Loans in Bartlett?
Interest rates for hard money loans in Bartlett are typically higher than traditional bank loans (conventional loans) because of the greater risk lenders must take on when approving loans. When searching for a hard money lender near me in Bartlett, you will find average interest rate is between 8%-15%. You should also be aware that lenders sometimes charge points that are meant to offset their administrative costs. Each point represents 1% of the total loan amount. The average points lenders charge is between 1 to 3. Some lenders may charge up to 10 points. These points are due upfront or at closing, depending on the lender.
What Should I Look for in a Bartlett Hard Money Lender?
There are many benefits to working with a Bartlett hard money lender. You just need to make sure you are working with the right lender. You can rely on Acamnet Financial Group when you need us most. We offer reliability, consistency, experience, and support. As a real estate investor, you know the importance of grabbing the best property deals when they become available.
How can Hard Money Lenders in Bartlett Help Me?
Whether you are new to real estate and real estate projects or an old pro, you know having the capital to purchase real estate is essential. Without funds, you will miss out on real estate transactions. When you partner with hard money lenders in Bartlett, you will quickly get the money you need without jumping through the hoops of traditional bank lenders.
How do I get a Hard Money Loan in Bartlett?
When you want a hard money loan in Bartlett, begin by preparing the property information. Location, size, purchase price, after repair value, repair costs, etc. In most cases, the financing will be based on these numbers. Then, apply for a hard money loan in Bartlett using this information and supply some financial information. Then, an appraisal will be ordered to assess the loan-to-value ratio, which will influence the loan amount.
How do I Refinance a Bartlett Hard Money Loan?
Refinance a Bartlett hard money loan will involve moving from a high interest, short term loan to a longer term, usually lower interest rate loan. Typically a conventional type of loan. When refinancing a Bartlett hard money loan you will find it will have a more stringent set of guidelines. You will need to have sufficient credit and income qualifications. As the lending landscaping and regulations constantly change, you want to consult a knowledgeable conventional loan expert.
Here’s other cites we can help with in Tennessee: Hard money lender in Tennessee
Current Real Estate Trends In Bartlett (2024)
The purpose of this data is to provide an objective analysis of current real estate trends in Bartlett, Tennessee.
The Bartlett real estate market is experiencing a seller’s market, with demand for homes greater than the available supply. The median listing home price is $346.5K, with a median listing home price per square foot of $135.
In October 2023, the median home sold price was $330K, indicating a sale-to-list price ratio of 100%.
Homes in Bartlett are on the market an average of 29 days, with a decreasing trend in median days on market.
According to the Bartlett City Real Estate Forecast, home prices are predicted to reach $329,896 by 2028, making it a good short-term investment. A 5-year investment in Bartlett homes may yield a profit of $123,780 by 2028.
The real estate market in Bartlett has positive trends and potential for long-term profitability.
Home Values
Home values in Bartlett have seen a slight decrease of 0.6% in the past year, with an average home value of $323,963. On average, homes here go pending in around 26 days, indicating a steady but slowly declining market.
This could present some obstacles to the current real estate market in Bartlett. It is necessary to look at inventory levels and median sale prices to get a more complete understanding of the market. Gaining insight into the current trends in Bartlett real estate requires further analysis.
Market Overview
Bartlett’s real estate market is looking strong with 188 properties for sale and 65 new listings. Buyers will have plenty of options when searching in the area, and the median sale to list ratio of 0.997 shows that homes are selling near or at their list prices. This is indicative of a strong demand and high competition between buyers.
The median sale price of $311,667 demonstrates that the real estate market is doing well and is likely to continue to attract buyers and experience growth.
1-Year Forecast
Bartlett’s real estate market is showing strong signs of growth and is attracting more buyers in the upcoming year. According to the year forecast, the market is expected to remain favorable for sellers with a median sale to list ratio of 0.997 and a median sale price of $311,667 as of September 30, 2023.
There are currently 188 properties available for sale, with 65 new listings added in October 2023. This indicates a healthy inventory and a regular influx of new properties entering the market.
All in all, Bartlett’s real estate market looks positive for the year ahead, making it a great opportunity for buyers and sellers.
Sources
https://www.realtor.com/realestateandhomes-search/Bartlett_TN/overview
https://walletinvestor.com/real-estate-forecast/tn/shelby/bartlett-housing-market
https://www.zillow.com/home-values/10264/bartlett-tn/
All About Bartlett
Are you looking for an exciting city with plenty of activities and attractions? Bartlett, Tennessee is the perfect destination for you! Located in Shelby County, Bartlett offers something for everyone.
History buffs, outdoor adventurers, foodies, and art-lovers alike will find plenty to love in this city. Take a trip back in time at Davies Manor Plantation, the oldest log home in the county.
For entertainment and recreation, Andy B’s Bartlett is an unforgettable bowling experience, while W. J. Freeman Park and Ellendale Park offer plenty of green spaces and playgrounds for the whole family.
Quail Ridge Golf Course is perfect for golfers, with breathtaking natural beauty. Foodies can indulge in homemade burgers and local favorites at Memphis Mojo Cafe, or take in the lakeside views and vibrant fall colors at Yale Road Neighborhood Park.
Canvas Therapy offers painting classes for all skill levels, and Pump it Up is an indoor playground great for kids’ birthday parties.
Bartlett really has something for everyone!
Historical Sites and Tours
Bartlett has a long and interesting history, which can be explored through a variety of historical sites and tours.
Davies Manor Plantation is a must-stop for anyone interested in the oldest log home in Shelby County. Founded in 1977 and managed by the Davies Manor Association Inc., this historical site offers guided and self-guided tours. You’ll be able to explore the grounds and gain an understanding of the area’s past. The highlight of the plantation is the oldest log home in Shelby County, which gives visitors a special look back in time.
In addition to the Davies Manor Plantation, there are other historical sites and tours in Bartlett that provide insights into the cultural heritage of the city. You can gain a greater appreciation for the past of Bartlett and the people who have made it what it is today by visiting these sites and taking part in guided tours.
Entertainment and Recreation
Are you up for some fun and excitement? Then head over to Andy Bs Bartlett and enjoy a unique bowling experience and interactive arcade games. At Andy Bs Bartlett, you can have a traditional game of bowling or take it up a notch with VIB bowling. This private 12-lane VIB pad offers an exclusive atmosphere with audio and lighting effects that will guarantee a great time.
But that’s not all! You can also challenge your friends to some arcade games – air hockey, skee-ball, and the latest racing games. There’s something for everyone here.
If you’re planning a group outing or a birthday party, Andy Bs Bartlett has got you covered. They have packages that include bowling, arcade games, and even food options. It’s a great place for celebrations.
After a long and exciting day at Andy Bs Bartlett, you’ll be hungry. Luckily, Bartlett has plenty of dining options for you to choose from.
Dining and Food
When you’re in need of a good meal, the options in Bartlett are plentiful. From casual eateries to upscale restaurants, you’ll find a variety of cuisines to choose from.
Memphis Mojo Café is a big red food truck that serves up homemade burgers and Philly cheesesteak sandwiches. They also have pulled-pork sandwiches, fish tacos, and more. Don’t forget to try their cheesy fries, crisp salads, and deep-fried jalapeños for a tasty treat. If you’re looking for something a little different, they offer a selection of local specialties as well.
No matter where you go in Bartlett, there’s something to satisfy your cravings. Italian, Mexican, Asian, or classic American fare, you’ll find it all. And when you’re done, explore the parks. Yale Road Neighborhood Park is a great spot to take in the autumn colors and see the geese feeding by the lakeside. Or, check out Bartlett Boulevard Soccer Park for some exciting soccer games and family fun. With parking and night game lights, it’s an ideal place for an afternoon with friends.
Bartlett offers a variety of delicious dining and outdoor experiences. Whether you’re looking for a quick bite or an upscale meal, you’ll find something to please everyone. And to wrap up your visit, take a walk through the parks and take in the beauty of nature.
Parks and Nature
To truly enjoy the beauty of Bartlett, one should explore the parks and appreciate the serenity of nature. Bartlett has many parks that provide a variety of outdoor activities for all ages.
Yale Road Neighborhood Park is great for a relaxing stroll or jog along its 0.4-mile track with picturesque views of the lake. It also has playground equipment for children and allows pets, making it the perfect spot for families to have quality time. During the fall, the park is beautiful with its vivid colors and birds feeding at the lake.
For soccer players, Bartlett Boulevard Soccer Park is the place to be. It is a great environment to play and cheer on the teams. The park is well-maintained and provides lighting for night games, allowing for more playing time. Remember to note that the park has limited parking and does not allow activities such as motorized watercraft, golfing, swimming, and alcohol consumption.
As you move on to the next section about ‘art and creativity’, you will find another part of Bartlett’s charm. Whether you are an art enthusiast or looking for something creative, Bartlett has something for everyone.
Art and Creativity
Immerse yourself in the vibrant world of art and creativity in Bartlett. Whether you’ve been making art for years or simply appreciate its beauty, Bartlett offers a variety of activities to indulge your creative side.
Canvas Therapy is an artistic creativity and appreciation studio. Here, you can join step-by-step painting classes that cater to every skill level. The staff is friendly and accommodating, ensuring that you leave with a masterpiece. It’s a great activity for families and friends to do together.
The streets of Bartlett are adorned with murals and sculptures that reflect the unique culture and character of the community. Take a walk and admire the local artwork.
Bartlett has something for everyone. Let the vibrant world of art and creativity captivate your imagination.