Nashville Real Estate News

The New Motto of Nashville Home BuyersHerodotus, a Greek historian, once described the ancient Persian mail system with these famous words, “these are stayed neither by snow nor rain nor heat nor darkness from accomplishing their appointed course with all speed.”

A similar translation was inscribed on the James Farley Post Office in New York; however, it is not the motto of the Post Office.  The US Post Office has no official motto.

Given a few minutes, I’m sure we could help them out. 

I am declaring these famous words as the official motto of Nashville Buyers in 2016. 

There were 2,167 closings in January which is up nearly 10% over the previous January.  It was 2007 when we last saw more than 2000 closings in January, so this is surely a sign of continued market growth. 

We

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How Nashville Became the Calm After the StormIt was a beautiful May Day, nearly six years ago.  We were at a party and auction to raise money to for youth missions.  We knew it was supposed to rain that weekend and we were happy that it held off for the evening. 

Later that night, we all went to bed expecting to wake up to a warm and wet Sunday.

No one expected that we would get nearly two feet of rain in the next 24 hours in Nashville. 

Thousands of homes and businesses were damaged throughout the Greater Nashville area.

People were displaced, some lost everything they had and a few never made it to Monday.

It was truly a time to be sad.

But, that’s not Nashville.

We didn’t complain or wait for someone to help us.  We worked together to put this city back on its feet in record

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Heres the Top 5 Trends in Nashville Home RenovationIf you read my email on Friday, I told a story about how the cost of repairs does not always amount to an equal increase in value.  Over the weekend, I have had time to go over the report and a few items stuck out like a hipster at the SuperBowl.

I think that you will find value in these recent trends if you are planning a repair or remodeling project.

So, here are my Top 5 Trends from the report.

  1.  The increase in new construction prices are helping to lift the value of renovation projects even as costs are rising.  The thirty projects studied this year resulted in an average ROI of 64.4%.  This is up from 2015 with an ROI of 62%.

  2. The average renovation project cost 4.7% more this year than the previous year.  This is a trend that we expect
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This is John.  Don't be Like John.John was getting older and was finally building his dream home.  He picked out a beautiful “spec” home, but it wasn’t quite right.

See, John loved two things.

First, John loved spending time on his deck in the fresh air and sunshine.  He wanted a big deck so he built one four times the average size.  It was gigantic.

Second, he loved not having to walk far to the bathroom.  You know, he was getting older.  John decided this home needed five bathrooms and not three.

Between the two extra bathrooms and the monster deck, John spent an extra $100,000 on his home.  Builders hate major changes to spec homes and John paid a premium.  That’s not bad if you are going to live there for a long time and enjoy it.

But things changed in John’s life.

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The Cared, but Only About the MoneyThe foreclosure industry is a strange one.  Due to the nature of the business there are not many opportunities to advertise to get new bank clients.  Well, not many opportunities that are effective.

One of my vendors decided to add the ability to advertise within their asset management software.  It’s not something where I can see the ads running, so naturally I was hesitant.

The sales person was persistent.  They called frequently and sent informational emails all in an attempt to get me to purchase ads.  This industry slows down in the 4th quarter, so I thought I would give it a try.

I set up the ads, asked for their input, paid the bill and then forgot about it. 

I did not hear from them again for three months.  Right at the time for

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Beauty is in the Eye of the BuyerThis is a funny story that could have been disastrous.  Several years ago, I was hosting an open house at my REO, bank-owned listing, in a wonderful neighborhood. 

This area was popular, but the market was down and homes were not selling.

Buyers complained about everything because they thought it would help them get a lower price.

The house was quite lovely.  However, some of the rooms had creative color choices.

The dining room was the most unusual.  So unusual, that I cannot even describe the color they used.

Everyone complained about the color of the room.

“Oh my gosh” they said when they entered the room

“Hideous” she whispered while snickering at her spouse. 

I didn’t think it was that bad, and I was getting tired of all of

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Make Your Mark Like a ManningPeyton Manning might not have as many championship rings as Tom Brady, but his mark on the game will be his lasting legacy.

When Peyton entered the league, it was dominated by the defending champs, the Denver Broncos, and their main weapon, running back Terrell Davis.  Barry Sanders, Detroit’s Running Back, was the highest paid player and the league MVP.  Emmitt Smith, Running Back for the Dallas Cowboys (and his endorsement deals) helped him make more money than any other player.

The running back was king, but that would soon change. 

Peyton changed the way the game was played for the better and the rest of the league followed.

Here are the Results.

Peyton threw the ball more, especially on first down.   A few years later the rest of the

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People have been falling for real estate scams since the beginning of time.  They have affected our society to the point where the scams have been ingrained into popular culture.  If you don’t believe that, I have a bridge for sale in Brooklyn.

Victor Lustig, a con man visiting Paris (not Paris, Tennessee), once sold the Eiffel Tower for scrap metal) TWICE to unsuspecting buyers.

Many people fall victim to these types of scams due to their own greed.  That’s not always the case.  Others fall because they are grabbing for straws due to desperate situation.

The old adages about scams are sound advice.

Trust that little voice when it tells you that everything does not add up. 

If the train is leaving the station now, wait on the next one. 

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Keep on with the Block, Dont Stop til You Get EnoughThis morning, most of world is complaining about who didn’t show up at the Presidential Debate or Super Bowl Quarterback Cam Newton and his egregious dance moves. [People are Strange huh?]

While they were playing, I was Blocking.

Not the football kind of blocking.

TIME BLOCKING

Everyone has a different idea of how they should time block.  There is no right way as long as you are getting work done efficiently.

This is how we do it. 

The first part of your day is the most important. 

It’s also the time of day when we typically have the least distractions.

So the first few hours of the day are reserved to get the most important things completed.  My time block ranges for +/- 4 hours depending on the work load for the day. 

If you

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The Bizarre World of Abandoned NashvilleThe creepiest abandoned building in Nashville has to be the old Tennessee State Prison on Centennial Boulevard.  The prison was built in 1898 and looks like a fortress from the outside.

Even if you’ve never been to Nashville, you have likely seen this building in the movies, The Green Mile and The Last Castle.  It has also been the set of many television shows and music videos. 

The Castle, as it is popularly known, had its share of problems, mistreatment and deaths.  In 1983, a Federal Court issued a permanent junction from ever housing inmates in the facility.

The building has sat abandoned ever since. 

It is an ominous site, when you catch a glimpse driving on Briley Parkway in West Nashville. 

I’ve always wanted a closer look, but this

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