Thursday, October 23, 2008


Market conditions Oct 23, 2008 Dyersburg,Tn 38024

I run into people everyday on the street and they all ask me the same question, "How is the market"? I tell them that sales have slowed somewhat but there are still buyers and sellers out there.

It appears that the lower priced houses(under $75,000) are the slowest movers in this market. For people who cannot wait to sell in this price range, they are lowering their prices and unloading them. There are also more foreclosures in this price range than any other.

In a slow market, usually the last sector to recover is rental properties. In this market, rental properties are the first sector recovering and all these houses being unloaded and the foreclosures are being turned into rental properties.

Up until 3-4 months ago there was a shortage of rental properties but now with all these purchases turning into rentals there is more available to rent.


Monday, October 06, 2008


Interview w/bank president in Dyersburg,Tn 38024

With all the questions swirling about the bailout in Washington, I decided to interview David Hayes who is the president and CEO of Security Bank in Dyersburg.

I chose David because he has (IMO) one of the most brilliant minds when it comes to banking and finance.

David just oversaw the completion of extensive remodelling of the main bank in Dyersburg which includes a internet cafe, extensive changes in the lobby area and additional small offices and an extensive face lift on the outside of the building.

I have had numerous conversations with David and he believes the future of Dyersburg is bright and with his bank spending all this money on renovation reinforces this belief.

I gave David a list of questions and here are his replies.

First of all Security Bank is a very strong and stable bank. We have
money to loan and have not been directly affected by the national
financial problems. If any of the readers have concerns about their bank they should visit and evaluate the bank rating there.

Readers should NOT be concerned because if they want to discuss
anything I am just a short phone call or visit away.

The Washington/Wall Street mess has caused all of us to be concerned and
I have had sleepless nights not knowing what the future of our country will
bring. As I type this I just received word that the "Bailout Bill" had
passed and will be signed by the President today. What does that mean-as
much as I hate to see the government involved in such a plan it was the
only choice we had. We did not get into this type of problem overnight
and will not get out overnight. America has some of the brightest minds
in the world but we should have seen this coming. We need to be careful
with the continued concentration of financial resources into the hands of
a few institutions.

Let's just pray that the plan works and allows the larger companies in
the world to have access to credit just like those on Main Street have


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