Nashville and Middle Tennessee Real Estate Services

Homebuyers Market Update for Nashville-Middle Tennessee Real Estate

2009-01-07T15:36:00.022-06:00

In the last few weeks, hundreds of properties have sold in the Middle Tennessee Real Estate market area. Since I continually monitor the Nashville real estate market, I thought I’d highlight a few opportunities that homebuyers have taken advantage of recently. These are just a few…

Belmont Area in Nashville for $190,000

This historic home built in 1935 has

almost 1,900 square feet and is just

a few steps from the Belmont Campus.

Pleasant View in Cheatham County for $239,000

On almost 2 acres with a cozy firepit

on a brick patio by the creek, this

home is 3,800 square feet with a

full basement.

Smyrna in Rutherford County for $260,500

Almost 3,000 square feet and just

a few years old, this home has lots

of custom touches with hardwood

floors and trim work.

Old Hickory Lake in Nashville for $262,500

You can walk to Old Hickory Lake

from this home that is over 3,000

square feet with a large lot that

adjoins wooded property.

Near Nippers Corner in Nashville for $269,000

Off Old Hickory Boulevard, this

2,500 square foot home has a

remodeled kitchen with granite

and stainless steel.

Franklin in Williamson County for $340,000

On over an acre with over 3,600

square feet, this home has a large

master suite with a spa bath and

screened porch.

Green Hills in Nashville for $368,000

This unique tudor style home in

the heart of Green Hills has over

2,600 renovated square feet

including 2 master suites.

Mount Juliet in Wilson County for $420,000

This 3,900 square foot home with

a Florida room is in an idyllic setting

that includes 10 acres with a stocked

pond.

And remember, this is just a few properties that I found interesting. Every buyer I work with has unique needs and requirements that make something feel like “home”. If you’d like to see what is available within 30 miles of Nashville in the Middle Tennessee real estate market, I encourage you to take advantage of my FREE Property Search feature by setting-up a Property Alert at my web site by following this link. Just a few minutes inputting your personal criteria and you’ll have the system notifying you when something intriguing comes on the market.

After working with thousands of buyers, I know that some people have REALLY unique requirements that can only be met with a Custom Search of the thousands of properties that are listed for sale in the Nashville-Middle Tennessee MLS Real Estate System. If you are one of those people, I’ll have to set-up the search for you. Just use my Dream Home Finder form at my web site to get the process started. Just click HERE.

I’ll warn you - I am far too busy to continually bug you to see if you’re ready to start actively looking at homes. So, after we spend a few minutes discussing what you’re looking for and we are satisfied that the search system is doing its job, I’ll count on you to let me know when you see something worth taking our time to tour. And one more thing, I’m NEVER TOO BUSY to be there for you when you are ready. I love looking at property with my clients to sort through the possibilities on our way to finding your Dream Home.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit http://www.RealEstate-NashvilleTN.com/ or just give me a call. Dr. Gala Gorman at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Your Retirement Home in Middle Tennessee

2008-11-01T14:42:00.000-05:00

You’d have to be living under a rock to completely escape the turbulence we are reminded of everywhere we turn today. Still, we know that everything in life has cycles and change is inevitable. In fact, I believe that we are defined by HOW we deal with change.

Aging is one of those inevitables that IS happening even as I write this. Hey, I can mask a few gray hairs but they’re still there! So, if you are among the millions of people that have retirement on their mind, you’ll be happy to know that making the choice to retire in Middle Tennessee is a wise one.

In fact, with nest eggs under attack by the declining economy, Forbes magazine recently ranked the Nashville area as the 10th best large metropolitan area to retire on a budget. The study considered housing affordability, inflationary pressures, and job prospects for the 20 percent (and growing) of those older than 65 who are still employed. Couple that with an attractive tax structure, gentle climate, and the beautiful landscape – those of us who already call Middle Tennessee home aren’t surprised to find that our “secret is out”.

In my last post, I discussed the factors that indicate that the real estate market is starting to show signs of turning around. So, if you’ve been thinking about your retirement home the current real estate market conditions are providing a great opportunity for you to set yourself up to really enjoy the “golden years”.

You can get the process started or just monitor the market by setting up a Property Alert on my web site using this link: http://www.RealEstate-NashvilleTN.com/Property-Alerts.asp When you see a home that interests you, just call or send an e-mail. I’ll be happy to answer any questions you have.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Pending Homes Sales News for Middle Tennessee Real Estate

2008-10-18T13:51:00.000-05:00

Last week we had a bit of confirmation for what I’ve been hearing and seeing in the real estate market in recent months. Pending home sales are up over last year – in every area EXCEPT the south.

In places like California, Nevada, Arizona and Florida where the market increased so dramatically several years ago, prices have finally retreated to a point where they are an attractive investment again…regardless of what the stock market is doing. For investors that have plenty of cash, there are opportunities everywhere and they’re starting to take advantage of them.

What does that mean for us here in the Middle Tennessee real estate market?

Well, since home prices didn’t fluctuate out of control on the upside they haven’t on the downside either. The market is still slow but showing definite signs of improvement. In fact, properties that are in desireable areas and are priced right are being snapped up now after just a few days on the market.

And, I know personally from my own clients that there are thousands of families that have been ready to relocate to Middle Tennessee for a couple of years now and have been stuck where they are due to the real estate market stagnation. With real estate in other areas starting to move, plans that have been on hold can be reconsidered.

So, if you’ve been thinking about buying it’s time to start looking in earnest. If you would like to do your own investigation or monitor the market, I suggest that you set-up a Property Alert on my web site using this link: http://www.RealEstate-NashvilleTN.com/Property-Alerts.asp When you see something that interests you, just call or send an e-mail. I’ll be happy to answer any questions you have.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Lease vs. Buy Real Estate in Middle Tennessee

2008-09-22T13:01:00.000-05:00

It’s been an interesting summer for the Middle Tennessee real estate market. While there was an increase in activity, inventory is still backing up and opportunities are everywhere if you know where to look.

I have been helping clients who believe they (for whatever reason) need some sort of seller financing. To be honest, this isn’t an easy road to take. The average seller doesn’t want to take the risk that they might end up getting the property back – and not in great condition. Investor sellers want a premium for creative financing and I am adamant that buyers I work with pay a realistic price based on TODAY’S market since we don’t really know how long it will be before we see significant increases again.

So, where does that leave you?

There are some reasonable opportunities for a lease purchase but I think an even better alternative is to seriously consider purchasing now. In fact, I just helped a family purchase a home when they were convinced that they needed to find a property with a lease purchase option. They still own a home (it’s currently rented) where they moved from. They were concerned that their credit wasn’t good enough or that their ratios wouldn’t work.

It required a bit of creativity, but I got them through the process and now they OWN the property – with a mortgage payment equivalent to what they would have paid on a lease purchase. The difference is that they receive all the tax benefits from Day 1. They paid over $10,000 less for the house, the deal required a lower down payment than a seller would have wanted for a lease purchase contract AND they don’t have to worry about the volatility in the financing market. They would have been left wondering if they could really get a loan in a year or two.

If you’re in the market for a new home, it is worthwhile to explore your options. I’ll be happy to answer any questions you have. Just call or send an e-mail. With a bit of information about your individual situation I can come up with a strategy that works to your benefit. Another reminder, I am a CPA and CFP® (accountant and financial planner) so I always want to make sure the deal makes good financial sense for all concerned.

If you would like to do your own investigation or monitor the market, I suggest that you set-up a Property Alert on my web site using this link: www.RealEstate-NashvilleTN.com/Property-Alerts.asp

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you are ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Buyers Getting Off the Fence in Nashville-Middle Tennessee

2008-06-22T18:34:00.000-05:00

Well, I found the article I mentioned in the last post. It was in Forbes. Nashville was ranked the 3rd best place to buy a foreclosure property. Does that mean all buyers are ready to take on that kind of property? Probably not…and you can read why I feel this way in a previous post.

What does it mean for real estate buyers and sellers in the Nashville area of Middle Tennessee?

Investors typically buy foreclosures because they can require more financial commitment (and risk) than the average homebuyer is willing to make (or take). The good news is that with investors ready to open their checkbooks we should start to see some of the excess inventory disappear.

As the market returns to balance, sellers will be more optimistic and less willing to negotiate. If they’ve made it this far, they might as well stick it out…right!?? Prices will stabilize and eventually the market will return to its former levels. In my opinion, that will take 3 to 5 years.

So, if you’re a buyer that’s been sitting on the fence I would caution you to start thinking about taking the leap. There are opportunities today that would have been unheard of a couple of years ago.

I specialize in helping buyers negotiate with sellers for some sort of creative financing. There are lots of reasons why this might be necessary including a buyer being trapped in the home they’re moving from. It’s a win/win for everyone. The seller has virtual certainty that the home will be sold and the buyer locks in today’s prices.

If you’re wondering how this might work in your situation (whether you’re a buyer or seller), just give me a call or visit my web site and send me a request. With a bit of information about your individual situation I can come up with a strategy that works to your benefit. Another reminder, I am a CPA and CFP® (accountant and financial planner) so I always want to make sure the deal makes good financial sense for all concerned.

If you would like to do your own investigation or monitor the market, I suggest that you set-up a Property Alert on my web site using this link: Dr. Gala's Property Alerts

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you are ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit

Nashville Real Estate Sellers Use Creative Financing

2008-06-01T15:03:00.000-05:00

We are definitely starting to see some movement in the real estate market again. Right now, it is primarily investors looking for (or creating their own) good deals. Still, it is a clear sign that some think we are nearing the bottom of this market adjustment…at least here in Middle Tennessee.

About six months ago (I can’t tell you exactly when because – darn it – I can’t find the article now), Nashville was ranked one of the top 10 markets for purchasing foreclosures.

What does that mean?

Well, most of us know that the market around here was never really overpriced. There was a bit of an overjealous increase in values but nothing like that seen in Florida, California, Arizona and Nevada. Unfortunately, we have been caught up in the mess to a degree due to the national media frenzy and lending criteria being a bit too lenient.

There are plenty of foreclosures on the market which is great for investors/buyers but not so good for the average home seller. However, with the strong economy here and desireable conditions for business, there is simply no long-term support for the stagnation we’ve experienced with our market.

What does that mean?

I believe that our market will recover much more quickly than others around the country. We will still have to work through an abundance of properties for sale and deal with issues related to financing but for those who are willing to “think outside the box” there are great opportunities.

In fact, I listed a beautiful home in Hendersonville for sale this week offering creative financing options. I’ve already had a number of people express interest. Remember, I am a CPA and CFP® (accountant and financial planner) so I always want to make sure the deal makes good financial sense for all concerned.

If you are at all interested in buying or selling in the next year and would like to monitor the market, I suggest that you set-up a Property Alert on my web site using this link: Property Alerts

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you are ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Nashville-Middle Tennessee Real Estate Data

2008-05-23T12:27:00.000-05:00

It is no surprise that we are starting to hear that home prices are declining. Frankly, the story that home prices were holding steady was really just smoke and mirrors. The only reason that it has taken this long to realize the price declines is the fact that there is almost a year of unsold inventory on the market...not to mention all of those sellers that really want or need to sell and finally gave up.

You may be one of them. Virtually every buyer is a seller and vice versa (first-time homebuyers being the exception). You can’t afford to sell at the price someone would be willing to pay…either because you owe too much on the property or you wouldn’t walk away with enough to be able to purchase a new home that would improve your situation in some meaningful way.

The homes that are selling are not a good representation of the overall market and have affected the reliability of the data (in my opinion). Of course, you have to keep in mind that I am a CPA and CFP® (accountant and financial planner) as well. I am keenly in tune with the numbers.

So, what should you do? There is no easy answer. Opportunities definitely exist but you have to dig for them. When I’m working with a buyer in this market, I pull together all the data to attempt to understand what the seller’s position might be. Quite a bit of information is available, you just have to know where to look.

If you are at all interested in buying or selling in the next year and would like to monitor the market, I suggest that you set-up a Property Alert on my web site using this link: www.RealEstate-NashvilleTN.com/Property-Alerts.asp

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you ARE ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Real Estate - Buying Foreclosure Property

2007-12-03T17:56:00.000-06:00

We are seeing more foreclosures listed for sale. Almost daily I have someone who expresses interest in buying one of these “bargain” properties. They are certainly priced to sell, but you need to make sure you know what you’re getting into.

The seller (the bank in most instances) has not lived in the property, so there is no requirement to disclose problems. It’s entirely up to the buyer to identify the issues and costs to repair them. Of course, with an FHA foreclosure there may be an assessment of the situation but there is no guarantee that their list is complete. And, since the previous owner most likely left involuntarily you run the risk that there are problems that are not readily apparent.

These homes are most often purchased by investors who are prepared to take on the risks associated with them. For the average homebuyer who is stretched to come up with the down payment and/or closing costs, the foreclosure property may not be such a good option.

Issues can also arise in the appraisal process. If the appraiser recommends repairs, the seller and lender must be willing to agree on how this will be taken care of. Generally the seller (the bank) isn’t willing to make any repairs and the buyer can’t make repairs until they own the property. Since the lender won’t extend a loan without a clean appraisal, you’re stuck.

For these and other reasons, I usually recommend that you dig a bit deeper to find a property that has some investment opportunity and can be purchased for a fair price without taking on so much risk.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit my web site by clicking HERE. To search the MLS listings for Nashville-Middle Tennessee real estate, there is a Quick Search feature in the left column. You can even sign-up for Property Alerts so that you'll be notified whenever a property comes on the market that meets your criteria.

Current Status Report for Nashville-Middle Tennessee Real Estate Market

2007-10-04T12:36:00.001-05:00

Are you tired of hearing the same old thing about the real estate market? I won’t even wait for a response. I’ll just say “So am I!”

What we really want to know is how to take advantage of the current situation. Every market has cycles. The more the market goes up the further it will slide when the correction happens. Such is life.

I’ve done some analysis on the Middle Tennessee real estate market. Keep in mind that I took a cross section focusing primarily on homes in the target range for the buyers I regularly work with. Here’s what I can share.

First, the two counties with significant sales growth (in number of transactions) are Wilson and Sumner. Williamson is holding its own but hasn’t grown over last year. And, while the market has slowed down it’s still pretty strong. For example…

For Wilson, Sumner and Williamson counties combined, the total transactions in my sample were up 13% from 2006. Wilson County was up 34%! People are buying a little less house but paying a little more money. Not strong appreciation but certainly not the freefall that we’ve been hearing about. It is taking a few extra weeks on average to sell. Still, the days on the market for the segment I used for my analysis sits well below 90.

So, if you invest in real estate (even if it’s just your personal home) and are wondering where to focus your attention, my money’s on Wilson and Sumner counties…in that order.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.FivePointsProperties.com . To search the MLS listings for Nashville-Middle Tennessee real estate, click on the large map on the home page.

Real Estate in the LaVergne Area of Middle Tennessee

2007-09-19T15:22:00.000-05:00

You’ll love this custom-built spanish Hacienda. The single story ranch style home has been recently renovated including new carpet and fresh paint. It is over 2,000 square feet with 4 bedrooms and 2 baths. The eat-in kitchen has a country feel with an island cooktop and extra storage. The master suite has a large walk-in closet and jacuzzi tub. With 1.4 acres, you’ll enjoy mature trees, an oversized garage, two-car carport, storage building with a second floor hideaway, and plenty of aggregate patio and driveway. There’s lots of possibilities here. The seller may pay closing costs. To see the Grand Photo Tour, visit www.175MasonCircle.com.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.FivePointsProperties.com. To search the MLS listings for Nashville-Middle Tennessee real estate, click on the large map on the home page.

Real Estate Home Buyers - Should you buy now or wait?

2007-09-10T17:50:00.000-05:00

There are lots of buyers “sitting on the fence” observing the craziness that seems to have taken over the real estate market. For the last several years, the market has been heavily favoring sellers. With any state of imbalance, there always comes a period of adjustment…the pendulum swings a bit too far in the opposite direction. Consequently, the current market is heavily favoring buyers.

What do you suspect that means in the long-run? You probably guessed that the pendulum will have to swing back in the other direction eventually. Professionals (and most homeowners for that matter) prefer a stable market where there are a reasonable number of homes (inventory) on the market for the number of active buyers.

The question on the minds of many potential buyers is “Should I buy now or wait for prices to fall?”

There’s no easy answer to that question and while I’m going to share a few thoughts with you, I encourage you to send me an e-mail or call to discuss the Nashville-Middle Tennessee real estate market and the services I provide. So, here goes!

If you’re a buyer, you need to think like a seller. Sellers who are not seriously motivated to sell will make minor price adjustments and eventually take the home off the market to wait out the storm. Motivated sellers will adjust the price more dramatically until they can’t go any further without it becoming a financial hardship.

With many homes mortgaged for close to their full value over the last few years, sellers have less room for price negotiation unless they’re willing to come up with $20,000 or more…most likely not going to happen. When sellers finally come to this conclusion, they take the home off the market and continue to live there or rent it out.

Nice homes in nice neighborhoods rent for close to what your mortgage payment would be AND you don’t get the tax benefits. If you rent a home that isn’t something you’d choose for the long-term, you also get to face moving at least twice. Remember, moving wasn’t fun the first time! So, renting is not necessarily a wise strategy.

Properties in desirable areas still get snapped up quickly. I was on the phone with a buyer today. He found a home he liked (after an extensive search) but thought that there was no rush to make an offer on it. The home sold before he made his offer and he’s really kicking himself. When you need something unique and you’re fortunate enough to find it, don’t delay!

The bottom line…most sellers are only willing to reduce the price so far before they go to “Plan B”. Everyone knows that markets go through cycles and “this too shall pass”. So, if you’re looking for something special and are fortunate enough to find it, there’s no reason to wait. Sellers are pretty realistic at this point and, if they’re motivated, have priced their homes to sell. If they’re not motivated, they won’t lower the price much anyway so waiting won’t make much of a difference in what you ultimately pay.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.FivePointsProperties.com. To search the MLS listings for Nashville-Middle Tennessee real estate, click on the large map on the home page.

Real Estate in Areas Around Nashville-Middle Tennessee

2007-09-07T16:03:00.000-05:00

I am often asked if I work in a certain area around Nashville. That’s actually a really good question and deserves a straightforward answer. Actually, I work in a 30 mile radius of Nashville. Most of my clients have purchased homes in counties other than where I live or have my office.

I have a bit of a different philosophy than most people in this business. I believe that my clients are perfectly capable of evaluating a neighborhood just by spending a bit of time driving around. If they’re using my web site, they have the general mapped location and property addresses available to them and can do their detective work at their convenience. And…technically, I’m not supposed to evaluate a neighborhood for them. That could be viewed as discrimination…what criteria do you normally use to make judgment calls like those?

Price and location will get you 80 to 90% there. The extra 10 to 20% really comes down to how a client feels…whether they make an emotional connection with the types of homes in the area they’re considering.

So, my clients get my professional experience and expertise (which includes a background in financial services focused on real estate consulting and development) applied to the evaluation of specific properties they’re considering. Once we find a property that they want to purchase, I structure and negotiate the contract. I also handle the financing for most of my clients. The contract should be written to incorporate the specific financing considerations unique to the individual and situation. Everything comes together with much less stress if there is one central contact point…that’s usually me.

Don’t get me wrong…I definitely help people narrow down their choices when it comes to searching for a home. I will say that I think clients are better at determining what they want to look at than I am. Most clients have used my web site to look at properties that are available for months before they’re actually ready to move forward.

When a client is really serious…it’s time to buy, I’ll run a comprehensive search based on the criteria they give me. Of course, there is a bit of professional expertise applied in this process. I know HOW to search using advanced features that many professionals don’t even know how to employ. I often have clients tell me that my search produced properties they hadn’t seen on the web site yet…they were there, they just didn’t know how to adjust the criteria to bring them up.

My search might produce 100 homes that meet the general criteria. I put these properties on a map so there is some perspective about location. Using the list which includes property detail and the map I provide, clients narrow it down from there…typically to less than 10 properties we’ll make appointments to see. We can look at that many homes in 3 to 4 hours depending on how spread out they are. That’s about all you can give fair consideration to in one day any way.

So, that’s where we start. Sometimes, we get lucky and find the right thing the first time out. If not, at least I get a lot more information about what a client is really looking for. And, the client is much more realistic about their choices. There is no perfect home that solves every item on their wish list. It’s an education process for everyone. If I try to tell them what I think they want/need, they’ll think they’re missing something…that I just didn’t want to show them a certain property for some secret reason that only an insider would know.

Clients appreciate my candor, honesty, and patience while they go through their “process”. I don’t try to sell them anything. The property sells itself (or not). I am a licensed CPA. While I no longer practice accounting, I was trained to render unbiased opinions. Some habits die hard, especially when you don’t really want to kill them.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.FivePointsProperties.com. To search the MLS listings for Nashville-Middle Tennessee real estate, click on the large map on the home page.

Selling Your Home - To Paint or Not to Paint

2007-09-05T21:00:00.000-05:00

When I talk to a seller about preparing their home to put it on the market, I suggest that resources be used wisely and only on things that will help the home sell quickly. A client asked me recently whether they should paint their kitchen.

I thought I’d share my response because most sellers could benefit from the advice.

If you paint the kitchen, should you paint the great room and/or the dining room? I do think it would be preferable to have more neutral colors BUT it might not be what ultimately brings the buyer.

A professional stager would definitely tell us to paint the kitchen. If it is something that you've been thinking about doing anyway, then I know it certainly wouldn't hurt your position.

Let me share an example...

I bought a home a couple of years ago. The seller's agent had recommended that they have the house painted. Apparently, they paid a professional over $3,000 to paint the interior of the home. It was a drab gray and they used flat paint. To further complicate things, they left no touch up paint so even if I thought I could live with the color it was impossible to touch up to my satisfaction. So...I ended up painting it again. The agent came by to drop something off and realized I had re-painted. She said "What a waste!"

So, my opinion on paint is that it's only paint and is fairly easily changed. If it isn't a really crazy unappealing paint scheme, I don't recommend you change it. The buyer will most likely want to make it their own anyway. If there is dated wallpaper, it's a different story. People know they can easily paint in a weekend. Removing wallpaper is a big job and if you don't do it right you could damage the walls and really end up with a mess on your hands.

With homes staying on the market longer, it doesn’t hurt to do some things that you would otherwise do if you were planning to keep the home long-term as long as those things would appeal to the masses. Your home needs to attract the attention of virtually every buyer since buyers are a scarce commodity right now.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.FivePointsProperties.com. To search the MLS listings for Nashville-Middle Tennessee real estate, click on the large map on the home page.

Mt. Juliet home Nashville-Middle Tennessee real estate MLS

2007-09-04T15:54:00.000-05:00

This home has been lovingly maintained. It is over 2,500 square feet with 4 bedrooms and 2 and a half baths. The 4th bedroom is currently used as a bonus room…so it’s up to you. The eat-in kitchen opens to a lovely sun room and deck. The yard is fenced and private with mature trees. The master suite is upstairs and is large enough for all your furniture. You’ll love all the extra storage under the stair and adjacent to the bonus room. In fact, there’s lots to love in this home.

If you’d like more information about this home, take the Grand Photo Tour by Clicking Here. To learn more about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.FivePointsProperties.com. To search the MLS listings for Nashville-Middle Tennessee real estate, click on the large map on the home page.

Nashville Real Estate in Interview for Smart Money Magazine

2007-08-23T19:42:00.000-05:00

The other day I was interviewed by a writer for Smart Money magazine. She was looking for a financial planner to comment about the real estate market and specifically what a buyer or seller should do right now.

Since I’m the “go to” person for the Financial Planning Association in Middle Tennessee for questions about real estate and finance, I was a great resource for the article. As a Certified Financial Planner® and licensed Realtor®, I have a unique perspective on the market. And, since I also own and operate a mortgage brokerage I added valuable insight about how that affects your real estate decisions as well. I’ll share with you a bit of our discussion.

First, let’s talk about sellers. On the surface, it would be simple to just say the market has shifted. It’s a buyers market now. If you don’t have to sell don’t.

While that may be true, it doesn’t do much for the thousands of homeowners that really would like to sell (or the thousands more that need to sell). For people that have owned their home for several years (and haven’t refinanced to access their equity), you are in good shape. You may have to price it more aggressively, or do a bit more to make it stand out for buyers, but homes are still selling..just not at the rate we’ve seen over the last few years.

For those sellers who don’t have much equity and really need to sell, you might consider doing something creative like offering the buyer a lease option contract. This could help you get a premium price for the property and the buyer can delay the financing process for a year or two. With the financing market in a state of turmoil, that could be a really good thing.

A word of caution. There are many issues to consider in a lease scenario if you want to make sure your interests are protected. This is not a contract to enter into without professional help. Buyers really just want to rent with the seller locked into a price IF they decide they want to buy. Sellers want to know the property is sold and may be willing to wait a little while (the shorter the better) for all the paperwork to go through. In many cases, the buyer and seller are worlds apart. A professional can help the parties come up with an arrangement that works and put it in writing so that everyone is bound by the terms that were agreed to.

So, what about the buyers? And remember, most sellers are also buyers. In fact, if the house you’re in now isn’t your dream home, now could be a great time to make a change. You could find a property selling for 10% less than it would have sold for last year if it’s been on the market for a while.

Keep in mind that desirable properties still sell VERY quickly. In fact, a couple of homes I’ve sold this year were under contract within a couple of days. Suggestion…if you do want to buy and know that what you’re looking for is unique, don’t be timid about making a quick offer. You may be looking for a long time to find something that is only a compromise compared to the one you missed.

In most cases, buyers would really be in the driver’s seat now if it weren’t for the melt down in the mortgage market. It is much more difficult to get financing…and it seems to be getting more difficult by the day. You should make sure your pre-approval has been updated in the last 30 days or you could end up with an unpleasant surprise when everything is ready to submit to the lender. There are still programs available for most borrowers even if you have no down payment. You just need a professional who knows where to squeeze you in.

Whatever decision you make, you should plan to stick with it for at least a few years. Things should level off next year but we will still have to work through the healing process to get back to a state of equilibrium in the real estate and finance markets.

Clients appreciate my candor, honesty, and patience while they go through their decision making process. I don’t try to sell them anything. The deal sells itself (or not). I am a licensed CPA. While I no longer practice accounting, I was trained to render unbiased opinions. Some habits die hard, especially when you don’t really want to kill them.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.FivePointsProperties.com. To search the MLS listings for Nashville-Middle Tennessee real estate, click on the large map on the home page.

Nashville-Middle Tennessee Real Estate - Buyer's Market?

2007-08-08T18:23:00.000-05:00

There are lots of examples where sellers are lowering the price to attract buyers. That approach doesn't help much. What you need to create is an emotional connection!

Let me explain...

I have been working with a client for months. The couple is relocating to Middle Tennessee and has taken advantage of my services in the area of Nashville for their real estate purchase. They are very motivated. She started a job at a prominent university last month.

We spent several days and looked at many real estate listings. Every trip ended in disappointment. One morning that all changed.

I monitor the market for my clients and a property came across my screen that I thought would be perfect for them. We had to wait several days to see it but within minutes the property had sold itself to my client. There was no need to keep looking, we went straight back to my office and made a full price offer.

My client had an immediate emotional connection with the property AND there was another offer waiting in the wings if ours wasn't accepted. So, if you're selling your home your goal should be to appeal to the discriminating buyer. To find out more about how I help sellers market their home or to take advantage of my Nashville Tennessee real estate home search tools, visit my web site at www.FivePointsProperties.com.

Real Estate - The Benefit of Appraisals

2007-04-01T13:15:00.000-05:00

Most people think that an appraisal is a costly nuisance when purchasing a property. By the time your agent has reviewed the sale of comparable properties establishing value and you've inspected the property thoroughly, isn't the appraisal just a "rubber stamp"?

Not always!

Recently, one of my clients made an offer on a home that they just loved...there was nothing comparable on the market and they were willing to meet the seller's demands which were many. We got through the inspection and ordered the appraisal. No one anticipated having a problem. The home had changed hands several times in the last decade. It appeared that any question about the property could be easily answered by historical reference.

About a week later, I received an unexpected call. The appraiser had measured the property and it was over 300 square feet less than what the listing showed. A second (and even third) appraiser confirmed it. The property wouldn't appraise for the contract price using an accurate square footage number.

I won't go into all the details. The property had been appraised several times in the past and the square footage problem was not discovered...the appraisal was limited to the property's exterior. I always recommend that a full appraisal be done on a property and this is a good example to bring the point home. The extra cost is definitely worth it. For a major purchase, you always want another opinion and pair of eyes.

And, there is a happy ending to this story! My client, the buyer, renegotiated the price and got the home they loved for substantially less money.

To learn more about my services or search the entire Middle Tennessee MLS, visit: http://www.FivePointsProperties.com.

Real Estate...The Perfect Home

2006-12-22T15:20:00.000-06:00

I was talking to a client yesterday that is having a difficult time making a purchase decision. Understandably, it's a decision you will live with for a very long time.

He remodeled an old home in a his old home state and has had trouble selling it. He's concerned that his new home will be more marketable. For that to be the case, you have to buy something that is appealing to a broad market.

Any property will eventually sell, but you always have to find the right buyer. The more buyers you have looking for the characteristics found in your home, the easier it will be to sell.

If you'd like to know how your home "sizes up", feel free to contact me at www.FivePointsProperties.com.