July 10, 2009 by brucejones
Last month there were 2,091 homes closed in the Greater Nashville area. This is the first time since September that we have experienced greater than 2,000 closings. Hey, some fair/ good news. Sales are still down from 2008 numbers.
The median price of a single-family Nashville home in June was $177,700, down just 3 percent from the $183,615 median price at this time last year. The condominium median price was $ 152,870 in June of this year, compared with $185,500 in June of last year.
Nashville inventory levels are down a tad, so all of this tells me that we may have hit the bottom. Sellers have taken equity loans out on their homes years ago on “presumed equity” they thought they had. Now they complain that their home is worth less than they owe. Duh!!! When you go to the ATM too many times, you eventually run out of money. Your home equity varies each month. Don’t believe me? Go to www.Zillow.com or www.Trulia.com which are free sites that give you graphed data that shows the fluctuations.
The general buying public wants and craves data. If your home is overpriced, everyone now knows it and it will just sit on the market without a buyer.
Recently I sold two homes in the Keystone development in Franklin, TN. Both sellers were willing to listen to what I had to say about pricing. Both were disappointed, but understood. Both homes sold within a month. Bad market? Not if you price it right.
Your house value can be like a stock. You will not know your true gain or loss until the house or stock sale is completed.
Posted in Nashville Real Estate News | Tagged Franklin TN, Keystone | Leave a Comment »
July 9, 2009 by brucejones
So which is better? Solid surface tops or granite? Granite is a natural stone that no man made product can duplicate. It withstands high heat and is hard. Use it outside or inside. How tough is it? What do you think cemetary head stones are made out of? Think they are designed to withstand the test of time?
Sellers fight me from time to time about spending more money on their home in order to sell it. Guess what? I know what buyers want. Granite is not expensive to install, looks great and buyers time and time again comment on a house that has granite vs. one that does not.
Recently I had a Franklin, TN seller contact me about selling their home. It had been on the market in 2008 for six months and did not sell. They interviewed me about their home and they had white formica counter tops in their small kitchen. I immediately told them that if they wanted me to sell their home, they must first install granite in the kitchen. They spent under $3,000 to have all new granite, new stainless undermount sink and costs for a plumber and within 7 weeks we had their house under contract.
Bottom line – Listen to your experienced REALTOR. We know what sells homes.
Posted in Nashville Real Estate News | Tagged Certified Luxury Marketing Specialist, Certified Realtor Institute, Franklin TN, Granite Counter Tops, Granite Kitchens, How to sell a listing, Sold Homes in Franklin TN | Leave a Comment »
July 9, 2009 by brucejones
Have you heard about trading houses? The concept is not as easy as it may seem, but I just closed a transaction in Franklin, TN last month that was one of the smoothest transactions ever.
-
-
Franklin, TN
How do you negotiate price? First you need to be concerned about the appraisals. Fannie May and Freddy Mac now require that the appraisals on each property be given to each financial institution as part of the deal. Another words, they want to make sure that the values are not inflated. Given this, it may be difficult to have both properties contract under the list price or higher. If one does not appraise, then the whole deal is off.
Don’t negotiate prices based on % amounts. Negotiate on a total price paid. It also makes sense for both homes to include a home warranty via a third party company. When/If issues come up, the new owners call the warranty company vs. getting upset with the previous owners. Agents should strongly encourage professional home inspections.
The real trick! Moving Day. Solution – Storage containers. Talk to both sides about loading up as much as possible into an on-site storage containter such as PODS or 1-800-Pack-Rat. Schedule the move a day or two after closing just in case the closing gets pushed back a day or two (mortgage companies tend to wait to the last minute to get everything to the closing). Schedule a time in the afternoon for possession for both homes. Both owners should schedule movers that day to move all remaining items out of the house. The majority of smaller items will already be inside the storage containers that will be moved that day.
To assure that this type of transaction works, both sides must work with each other vs. against each other. There must be a give and take on both sides. both agents must work closely with each other.
Posted in Nashville Real Estate News | Tagged Franklin, TN, Trading Houses | Leave a Comment »
April 2, 2009 by brucejones
Have you ever wanted it all, but not sure where to find it? Here it is! The Ultimate Lifestyle in Franklin, TN is now avaiable at a greatly reduced price. Will Forte, owner of Forte Building Group, out did himself when he spent two years building his latest masterpiece. This newly constructed 6,000 square foot luxury home has every feature you can image. Features include; Outdoor fireplace, automatic blinds for the signature turret windows, full home automation, temperature controlled wine cellar, high grade appliances and so much more!
Walk to the square in Downtown Franklin. 
to a large variety of resturants, shopping and churches. Enjoy the multiple Downtown Franklin Festivals throughout the year by just walking out your front door. Franklin, TN was recently ranked the #5 small town by Southern Living Readers Choice Awards for 2009. Nearby is the Factory at Franklin where unique shopping experiences, salons, spas and eating destinations such as Saffire are just 1/2 mile away. What about a fun night out on the town where you can see everything and enjoy food and taste a large variety of wines? Franklin’s Wine on Mainstreet can be enjoyed by just stepping out your your front door at 112 Church Street. My wife and I always enjoy this once a year event and it is a great time to see friends and meet new people in Franklin.
112 Church Street is located at the Brownstones development at Church and 3rd in Franklin. Check out the photos of this property or watch the video on my website at www.FranklinElite.com. Exotic cuts of granite, wide cut hardwoods, glass tile work, an elevator to all 4 floors, high grade doors and windows and much more are featured in this property. Only the best would do! Best of all, the property sits across from the development’s signature courtyard. At just $1,975,000 this newly constructed home is the lowest price the builder has ever offered. Please call us for your private showing today at 615-429-0153. We have floor plans and information about this property on our website at www.FranklinElite.com. The home is listed and marked by Bruce Jones with RE/MAX Elite.
Brownstones Signature Courtyard
Posted in Nashville Real Estate News | Tagged Brentwood, Cool Springs, Downtown Franklin, Exotic Granite, Franklin, Historic Franklin TN, Home Elevator, Luxury Homes, New Construction, New Homes, RE/MAX Collection, relocating to Nashville, sellers, Southern Living, TN New Construction, Uber Homes, Uber Luxury, Williamson County | Leave a Comment »
March 23, 2009 by brucejones
There is no question, buyers in this Williamson County / Nashville market are looking for good/great deals. Buyers also do not have large down payments like they have had in the past probably because the home they sold did not net them as much or they have lost money in the stock market. With this being said, buyers not only demand a great deal, they also NEED the home to be updated and ready to move in with minimal improvement left to be made. The buyers do not want carpet or painting allowances, they need to see the improvements now. The banks also are not as kind as they used to be when it comes to “Decorating” allowances or carpet allowances. The banks and appraisers want and demand that the work already be done. So Beware!
Cool Springs / Franklin, TN Listing
Your Nashville area / Franklin, TN real estate agent has to tell you how it is right now. No sugar coating! The home listed above has all new carpet, newly finished hardwoods and fresh paint and is aggressively priced. Guess what? The buyers want more! What do they want? Get rid of the brass plumbing fixtures. Give me GRANITE in the kitchen! Give me GRANITE in the bathrooms! Wow, these Williamson County buyers really demand a lot! The affluent Franklin / Brentwood, TN buyer does want a lot, but you have to give it to them if you want your house sold. The listings that already have all the updates done and are priced right will be the ones that sell first. All others will have to wait!
Bruce Jones, Broker
ABR, CLHMS, CRS, GREEN, GRI
RE/MAX Elite – Brentwood, TN 37027
Direct – 615-429-0153
Office – 615-661-4400
Posted in Nashville Real Estate News | Tagged Brentwood, Certified Luxury Marketing Specialist, Cool Springs, Franklin, nashville, Nashville listing, TN, Williamson County | Leave a Comment »
March 16, 2009 by brucejones
A few weeks ago I asked if your Brentwood / Franklin real estate agent a good negotiator? The fact is that a lot of real estate agents do not learn
the true art of negotiating. Some of my best negotiations have been brought about by not saying one word. Chatty agents tend to show all their cards to anyone who will listen. I ask leading questions in order to try to get as much as possible out of these agents. They have no idea what damage they are doing for their clients.
Negotiating Your Nashville Home Purchase
Continue Reading »
Posted in Home Buyer Articles | Tagged Bruce Jones, Nashville home buyers, negotiation skills | Leave a Comment »
March 2, 2009 by brucejones
First time Nashville area home buyers, now is the time to take advantage of your $8,000 tax credit. I have two new listings this week that are perfect for first time buyers. Listing # 1 – 3517 Chandler Cove Way, is in Cane Ridge, TN 37013. Offering over 2,600 square feet, 4 large bedrooms, this Cane Ridge, TN home includes a large kitchen with island and hardwood flooring on the entire first floor. A recreational area and 2-car garage on a level lot for just $189,900.
Come Home to Cane Ridge!
Continue Reading »
Posted in Home Buyer Articles, Nashville Real Estate News, Relocation | Tagged 37013, 37064, 37214, Antioch TN, Beazer, Cane Ridge TN, Centex, Franklin TN | Leave a Comment »
February 19, 2009 by brucejones
What You Don’t Know During Your Divorce Will Hurt You
Your Nashville family home is usually the biggest (if not only) asset in most divorces. However, when dividing marital property, appraisal minus mortgage does NOT equal equity. This incomplete equation leaves your Nashville property over-valued and that works against you in divorce. In addition to the inaccurate and unfair division of your Williamson County property, you risk damaged credit, default, foreclosure or even bankruptcy. Without more real estate due diligence much earlier in your divorce process, divorce can be fraught with avoidable problems. To protect your rights NOW, you need a Nashville real estate agent specializing in divorce -an RCS-DTM REALTOR®.
Specialized Nashville Real Estate Services for Your Unique Needs
Continue Reading »
Posted in Nashville Real Estate News | Tagged divorce, RCS-DTM REALTOR® | Leave a Comment »
February 12, 2009 by brucejones
If you aren’t using a qualified Nashville buyer’s agent you should be. Why? A qualified Nashville buyer’s agent will represent only you and your interest when buying your next Nashville property. The next question you should ask as a home buyer is this; “How many years of experience does your Nashville buyer’s agent have?” Do they have a broker they can reach at a moment’s notice when help may be needed or when problems arise? Do they have a team of professionals and a support staff to back them up when they are not available? Don’t hope so, know so!
ABR, CLHMS, GRI, CRS – It’s Not Alphabet Soup!
You deserve a team of buyer’s agents and all of our Nashville buyer’s agents on the team here at Bruce Jones and Associates are all highly 
qualified. Bruce Jones is a licensed Nashville Real Estate Broker, an Accredited Buyers Representative (ABR), Certified Residential Specialist (CRS), Graduate Realtor Institute (GRI) and a Certified Luxury Home Marketing Specialists (CLHMS). What do all these real estate accreditations mean for you as a Nashville home buyer? These accreditations spell out peace of mind, experience and specialized training assuring you the highest caliber of client services.
Do you have a question about Nashville real estate? Be sure to leave a comment and Bruce Jones and Associates will respond. You can comment on this blog and never have to worry about being spammed. Plus, we will never share, rent or sell your personal information with any third party – we promise!
Posted in Home Buyer Articles | Tagged ABR, Accredied Buyers Agent, Certified Luxury Marketing Specialist, Certified Realtor Institute, CLHMS, CRS, GRI | 1 Comment »
February 9, 2009 by brucejones
Now more than ever you need to select a good negotiator to be on your side during the buying and selling process. They say the first offers are usually the best offers. Why? If the first offer comes in the first 30-60 days of the listing, then it is probably near the original list price. Your Nashville real estate agent needs to give you sound advice and get your house sold. They must know the Nashville / Williamson County real estate market.
Nashville Real Estate Negotiations Expert
If you are buying a home for sale in Nashville, then your agent must outline a plan on what to offer, what to counter and make your case. As your Nashville real estate agency team, Bruce Jones & Associates presents offers to sellers and their agents and explains why our client’s offers are what they are. A letter to the selling agent is presented so they can present this to their sellers which outline how/why the offer was arrived, especially when the offer is aggressive. Possessing years of experience negotiating Nashville area homes, condos and land for both buyers and sellers, me and my associates have perfected the negotiation process. I also bring to the table many years of corporate experience negotiating large national contracts. This type of experience is invaluable. It can literally save you thousands of dollars.
Examples of the negotiation Power of Bruce Jones & Associates
Example # 1: Summer of 2008 – The builder of a home in the Franklin, TN development of Westhaven was 90 days out of completing a home listed at nearly $900,000. The buyer really wanted the home and the listing agent had stated they had very little room to negotiate, if any at all. The result? The buyer bought the home at a $20,000 discount with several additional builder added features included in the deal.
Example # 2: Summer of 2007 – I first met my buyers and within two weeks I found the house they wanted. It had the Brentwood location, the Brentwood schools they wanted and the price they desired. It had everything. I advised them to make an offer that was about $30,000 to $40,000 lower than the list price. They offered $200,000 less! This was priced just over $1.2 million, but their offer was too aggressive. I told them they would not get the house if they offered such because I knew of another buyer that was waiting in the wings. They said they could live without the house. Bam, they lost out! Two weeks later they were regretting it. A month later they wanted me to call the agent and offer list price plus $50,000 more! Too late! The house sold at a $35,000 discount off the list price. One year later we found another Brentwood, TN home and bought it on day one, but it took a full year to find the next deal. Now here is where they really lost out. The value of their Brentwood, TN home dropped over that time period. The market deteriorated in that year and that probably cost them $75,000. The home would probably have sold for upper $600K’s, instead it sold in the lower $600K’s. They should have listened to their seasoned Brentwood real estate agent the first time.
Strong Negotiation Skills Make a Difference
As you can see from the examples above, utilizing superior negotiation skills will make a difference in your Nashville real estate process. To take advantage of these benefits as a home buyer or seller, contact us, the Bruce Jones & Associates today.
Until my next post,
Bruce Jones
Posted in Home Buyer Articles, Home Seller Articles | Tagged nashville, Nashville real estate, negotiation skills | 2 Comments »
Older Posts »
