Nashville Real Estate News

Nashville Orientation is not openI'm at college orientation for my youngest.

At another crossroads in my life and an exciting time for my daughter.  This "orientation" event is excellent.  Designed to guide you through all the right pathways. So you end up at the right place.

If you are considering a move to Nashville, you may be in the same boat.

Wondering where you should live, what the schools are like, how you will spend your free time and who you should work for.

For an introverted extrovert like me, it creates as much anxiety as excitement.

That's how I felt when I moved here in 2001. Fortunately, My wife, Gretchen, grew up in Music City which made our transition easier.

And that's what we love to do for you.

Help make your transition to our wonderful city

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Get the best from your Nashville property management companyWhether it’s with your first or fiftieth, you may decide to turn over the management of your investment property to a professional.  

It’s a great way to save your time every month and leave the day-to-day hassles to someone else.  

Before you take that big step, it’s best to do your homework first because not all managers give the same quality of service. 

Most know the basic questions to ask, like:  

  • How many years of experience?  
  • References?
  • What services do you provide?
  • Insurance Coverage?
  • Vacancy Rates?
  • Turn Times?
  • Cost?

And you will get similar answers from the property managers that you interview.

So, I propose that you dig a little deeper.

And the first thing that I would ask for is a copy of the

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Don't catch this at a foreclosure saleI get asked about foreclosures every week, and much of it has to do with the confusion on how the industry works.  

This confusion leads people to use the same term for different things.

Like the word foreclosure.  

It’s used as a “catch all” term for a property in any stage of default.  

So when you hear the word “foreclosure sale” most people do not discern that from a sale of a “bank owned” home.   And the difference is huge.

A foreclosure sale typically happens at the courthouse or other public place.  It is an auction to the highest bidder with a reserve.  If the reserve is not met, the bank managing the foreclosure makes a bid at the reserve price and becomes the new owner.  

This is when the property changes from a foreclosure to

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It's what you don't know to ask that costs the mostIt happened again.

A couple from Toronto lost their $30,000 deposit and the home of their dreams in what the real estate industry calls dual agency or a double-ended deal.

In other words, it’s when the same real estate agent represents both the buyer and the seller in a transaction.  

Here’s a link to the story:

http://www.cbc.ca/news/canada/toronto/toronto-area-couple-loses-30k-deposit-after-bad-advice-from-double-ending-real-estate-agent-lawyer-says-1.4156491

If you’ve listened to me for some time, then you’ve heard me warn against dual agency.  

And here’s why I am 100% against it.  

First, of all I am a Realtor.  That set’s me apart from real estate agents because I live by the Realtor Code of Ethics that goes way beyond the laws

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One in a long line of difficult stepsGood news.

I just received the clear to close on a property that went under contract 6/13/2016.

That’s right…2016

And, it is not new construction.

One year ago today, my client put this home under contract and it is just now ready to close.

At first glance, this one looked fairly easy.  

Just like every show on HGTV.

You submit an offer.  Get it accepted.  Fast Forward to the closing table and start enjoying your new life.  

If real estate was that easy, you wouldn’t need me.  

Due to the huge demand for homes in Nashville, most buyers think that getting a home under contract is the hardest part.   

In reality, that is just one in a long line of difficult steps.  And most of them you have no control over.

Here’s just a

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Who you ask is as important as the questionIt’s common for people to share their experiences, but I want to caution you on the growing trend of people getting advice online. 

Especially from strangers.

This story caught my eye this morning.  The headline read “Well, this is terrifying.”

The story came from a millennial who was buying a home with her partner.  She was freaking out about emptying her savings, how much the home would cost per month, the expense of maintaining the property, and that the home was located in a flood zone.  

She spilled her guts online and asked for advice from an online forum of other buyers.  

I have no problem with people seeking advice, and I regularly encourage people to seek it.

But, only from professionals.   

It’s not that you can’t ask for

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When you don't care what other people thinkHere’s the story.

When the pressure is on, people make mistakes because they are too nervous.  They are worried about making a mistake.  

And that’s exactly what happened to Frederic.  His boss knew that he had talent, but every time that he had a chance to showcase his work, he failed due to his lack of confidence.

He heard all of his life that he was not fast enough or good enough to play professional hockey.  He was passed over once in the Junior Hockey Draft and twice in the NHL draft.  

Then in 2013, he got one chance.  It was a $40,000 a year contract to play with the Milwaukee Admirals, the minimum salary for the American Hockey League.  

The Predators thought that he had talent, but needed to gain confidence.  In early 2016, they

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The numbers that I reported were true, however, I’m not convinced that we are moving towards a balanced market in Nashville.  Based on the numbers in May, the market looks stronger than ever.

In fact, this was the best May on record for real estate sales in Nashville.  

We are 7% over the sales recorded in May 2016 and up the same amount year-to-date.  And we’re so close to the 4000 unit sold in May that I expect to beat it when we peak for the year in June or July.  

The inventory continues to dwindle, and Nashville is down 11% over the same month last year.  The trend in inventory seems to have stabilized which is good news for the health of the market.  I expect builders will continue to add new homes at the current pace for some time.

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Is it the right time to sell your Nashville home?The right time to sell your personal residence in Nashville depends solely on this one thing.

YOU.  

That’s right, you.  

Now, if we were talking about your investment property, then we might have a different answer. 

Instead, we are talking about where you live now.  Where you raised your family.  Where you have so many memories.  The place you call home.  

This is much more than an investment.  And it’s something that you should keep in mind when you are thinking about moving.  

The best time for you to move is when you are ready.  

I wouldn’t factor market timing much into the mix.  I might wait an extra year or move it up slightly, if I thought it would make a significant difference.  

Otherwise, I would go when I was ready.  

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5 ways to avoid costly repairs with new construction in NashvilleOne of the most common headaches with home ownership is the cost (and inconvenience) of major home renovations.   

And that may be your #1 reason in considering a new construction purchase.  

Buying a new home is not a guarantee that you won’t face costly repairs in the first few years of ownership.  

If you are thinking about buying new construction for this reason, then here’s five things that you need to do.  

1.   Learn as much as you can about the builder 

Search for information about the builder online and read any reviews that you can find.  Talk to people who live in homes your builder constructed within the last ten years.  Ask about any problems they are having with the home and how warranty work was handled.    Ask your agent about

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