5 Amazing Tips to Buying a Home in Nashville Now

How to Buy A Nashville HomeAs the pendulum swings back in the other direction, some Nashville home buyers are feeling the effects of a low inventory market. As I reported in my latest market update, the number of homes for sale in Nashville is at a seven year low. This phenomenon is changing the face of the Nashville Real Estate Market.

New obstacles have been put in your path that have not been seen in years. Multiple offers, Sales over Listing Price, Sellers declining Showings are part of the new reality in Nashville Real Estate.

Are you prepared to buy a home in these conditions?

Is your Agent helping you get there?

 

Below you will find my five amazing tips for surviving and succeeding the home buying process in Nashville today.

 

1. Information is Power

Most buyers want to be in charge of the online home search. This is great; however, most of the buyers searching online are using the wrong tools. The major websites get their listing information from a variety of sources. This causes a huge problem with accuracy of the information. You will find homes on these sites that have already closed, six months ago. It is frustrating to find your potential dream home online to find it is no longer available.

Another issue with the major sites is the timeliness of the data. A new listing could take a few days to show up on these sites. The best homes are being sold quickly. While you are waiting around for a few days for your dream home to show up; someone else has already bought it.

Get your information direct from the MLS. If you search for homes on Nashville Real Estate Now, the data is a direct feed from the MLS. This provides the fastest and most accurate information available to the public. You can also set up alerts to search every day based on your criteria and send you an email with results. When it is crunch time, ask your agent to set up alerts for you in the Realtracs MLS system.

 

2. Full Attention

Your home is the largest investment you will likely every make. This transaction deserves your full attention. Use the online search to really narrow down your choices and then take time off from work to search. This task is far too important for a part time approach. An evening here and a weekend day there does not always equal a successful home purchase. Especially, when the trend is moving towards a seller’s market.

When it is time to buy, take off during the week to see all of your favorite homes. This will provide the time necessary to make a proper evaluation and the best decision. Get your offer submitted and accepted before the weekend showing rush.

 

3. Urgency

Without a sense of urgency in your home search, you will find the process frustrating and time consuming. It could even cost you more money!

I have listed five homes in the last few weeks all across Metro Nashville. Four of these homes had multiple offers. The other home had an offer on the first day that was accepted.

If you wait a few days to see the listing or make an offer, someone else will gladly take your place. If your lack of urgency leads to a multiple offer situation, you may have taken a hit to the wallet.

See homes as soon as they hit the market and do not wait to write an offer if you really like the home.

 

4. Smart Negotiations

No one wants to work with an unrealistic or difficult buyer. I try to avoid them like the plague.

Start with an offer that will get the interest of the seller and entice them to want to work with you. Keep the contract as clean as possible and highlight the benefits of working with you. Be willing to pay fair market value for a home. Provide complete and accurate offer paperwork. Respond quickly to requests and counter offers. Treat the sellers how you would like to be treated. Be professional.

Buyers in this market do not have a lot of leverage in the negotiations. Find every ounce and use it to your advantage.

 

5. Push Thru Adversity

We grow the most during the times of trials of our life. The same can be said for Real Estate. Go into this process knowing that you are going to face adversity and overcome it. Do not give up!

Choose Real Estate Professionals who are willing to hold your hand and walk with you to the end. Find professionals who have the heart of teacher. These folks can see the potential obstacles coming; and know the best way around, over and through them.

Lou Holtz said it best, “Show me someone who has done something worthwhile, and I'll show you someone who has overcome adversity.”

 

 

I hope you can learn from these common buyer mistakes, to do something amazing.

 

How can I help you get there?

 

Discussion

#1 By Steve Jolly at 7/17/2017 6:30 AM

Thank you for sharing Ed. If you decide to come to Nashville, do not hesitate to contact me.

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