Nashville Real Estate BlogRecently posted or modified blog postshttps://www.nashvillerealestatenow.com/blog/Copyright NashvilleRealEstateNow.com2024-02-24T16:16:41-07:00tag:nashvillerealestatenow.com,2012-09-20:8680How Does Nashville Rate on Real Estate, Taxes, and Jobs?Steve Jolly here. I'll be with you every week throughout the housing season bringing you the latest on the best deals, money news, and my thoughts on the market. <br /><br />Let's Get to Business.
DEALS<br /><br />INVESTOR ALERT: West Meade Auction online with a starting bid of $286,000. Open House Saturday & Sunday 2-4pm. The auction runs from Saturday - Tuesday. Reach out to me for more information. <a href="https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p=eyJzIjoic0tNVzZaRmNWNWlIMExjQkpDSDEtVDIwbE80IiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTE1Njk2NjIjcGFnZW51bV8yXFxcL1wiLFwiaWRcIjpcIjZiZTk5YTE5NzRjNDRhNDI5NjY2ZTQ0MTE0MTMwODI3XCIsXCJ1cmxfaWRzXCI6W1wiNTM1NmIwZThjMWE1NTVlOGY5YWQwYjgwN2FlY2U1OWNiYmMxYWYyM1wiXX0ifQ" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p%3DeyJzIjoic0tNVzZaRmNWNWlIMExjQkpDSDEtVDIwbE80IiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTE1Njk2NjIjcGFnZW51bV8yXFxcL1wiLFwiaWRcIjpcIjZiZTk5YTE5NzRjNDRhNDI5NjY2ZTQ0MTE0MTMwODI3XCIsXCJ1cmxfaWRzXCI6W1wiNTM1NmIwZThjMWE1NTVlOGY5YWQwYjgwN2FlY2U1OWNiYmMxYWYyM1wiXX0ifQ&source=gmail&ust=1708825190951000&usg=AOvVaw3U8HI4d_fzKqZrUkdN431v"> https://www.nashvillerealestatenow.com/property-search/detail/38/2571539/5919-old-harding-pike-nashville-tn-37205/</a><br /><br />NEW CONSTRUCTION PRICE DROPS: <a href="https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p=eyJzIjoiTzNSX2VBVF93QUpOajBXWVZOSzhGOUVLbnFvIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTE1Njk2NjJcIixcImlkXCI6XCI2YmU5OWExOTc0YzQ0YTQyOTY2NmU0NDExNDEzMDgyN1wiLFwidXJsX2lkc1wiOltcIjUzNTZiMGU4YzFhNTU1ZThmOWFkMGI4MDdhZWNlNTljYmJjMWFmMjNcIl19In0" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p%3DeyJzIjoiTzNSX2VBVF93QUpOajBXWVZOSzhGOUVLbnFvIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTE1Njk2NjJcIixcImlkXCI6XCI2YmU5OWExOTc0YzQ0YTQyOTY2NmU0NDExNDEzMDgyN1wiLFwidXJsX2lkc1wiOltcIjUzNTZiMGU4YzFhNTU1ZThmOWFkMGI4MDdhZWNlNTljYmJjMWFmMjNcIl19In0&source=gmail&ust=1708825190951000&usg=AOvVaw1F8jniECuA92qnQh0oH0f3">https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1569662</a><br /><br />> 10% PRICE DROPS: <a href="https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p=eyJzIjoidU1ncEp5a2RjQkNXSWFTZzRMV3EyV2pkTGdJIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTE1NjE3NDZcIixcImlkXCI6XCI2YmU5OWExOTc0YzQ0YTQyOTY2NmU0NDExNDEzMDgyN1wiLFwidXJsX2lkc1wiOltcIjUzNTZiMGU4YzFhNTU1ZThmOWFkMGI4MDdhZWNlNTljYmJjMWFmMjNcIl19In0" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p%3DeyJzIjoidU1ncEp5a2RjQkNXSWFTZzRMV3EyV2pkTGdJIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTE1NjE3NDZcIixcImlkXCI6XCI2YmU5OWExOTc0YzQ0YTQyOTY2NmU0NDExNDEzMDgyN1wiLFwidXJsX2lkc1wiOltcIjUzNTZiMGU4YzFhNTU1ZThmOWFkMGI4MDdhZWNlNTljYmJjMWFmMjNcIl19In0&source=gmail&ust=1708825190951000&usg=AOvVaw1baBLSNSJWqIUH2BJs9Ge0">https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1561746</a><br /><br />LUXURY HOMES: <a href="https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p=eyJzIjoicWc0V2R0ZFFBcS1wRF9Pa05Xc2drVFhkc0NVIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTEzMTQ2XCIsXCJpZFwiOlwiNmJlOTlhMTk3NGM0NGE0Mjk2NjZlNDQxMTQxMzA4MjdcIixcInVybF9pZHNcIjpbXCI1MzU2YjBlOGMxYTU1NWU4ZjlhZDBiODA3YWVjZTU5Y2JiYzFhZjIzXCJdfSJ9" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://mandrillapp.com/track/click/30484894/www.nashvillerealestatenow.com?p%3DeyJzIjoicWc0V2R0ZFFBcS1wRF9Pa05Xc2drVFhkc0NVIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5uYXNodmlsbGVyZWFsZXN0YXRlbm93LmNvbVxcXC9wcm9wZXJ0eS1zZWFyY2hcXFwvcmVzdWx0c1xcXC8_c2VhcmNodHlwZT0yJnNlYXJjaGlkPTEzMTQ2XCIsXCJpZFwiOlwiNmJlOTlhMTk3NGM0NGE0Mjk2NjZlNDQxMTQxMzA4MjdcIixcInVybF9pZHNcIjpbXCI1MzU2YjBlOGMxYTU1NWU4ZjlhZDBiODA3YWVjZTU5Y2JiYzFhZjIzXCJdfSJ9&source=gmail&ust=1708825190951000&usg=AOvVaw3ir8ACeLyHf1ePGeGhD-jk">https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=13146</a>
MONEY<br /><br />Existing Home Sales are Still Growing: <a href="https://mandrillapp.com/track/click/30484894/www.bankrate.com?p=eyJzIjoid3NHSFBpVjR5NU84ckQ0ZWZpd1ZGSXJKaU1FIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5iYW5rcmF0ZS5jb21cXFwvcmVhbC1lc3RhdGVcXFwvZXhpc3RpbmctaG9tZS1zYWxlc1xcXC9cIixcImlkXCI6XCI2YmU5OWExOTc0YzQ0YTQyOTY2NmU0NDExNDEzMDgyN1wiLFwidXJsX2lkc1wiOltcIjliODhhMDdhN2RkMGQ1MGQwOTlmMjE0ZmMyMTBjNjk1ODE0YjkzMTlcIl19In0" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://mandrillapp.com/track/click/30484894/www.bankrate.com?p%3DeyJzIjoid3NHSFBpVjR5NU84ckQ0ZWZpd1ZGSXJKaU1FIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5iYW5rcmF0ZS5jb21cXFwvcmVhbC1lc3RhdGVcXFwvZXhpc3RpbmctaG9tZS1zYWxlc1xcXC9cIixcImlkXCI6XCI2YmU5OWExOTc0YzQ0YTQyOTY2NmU0NDExNDEzMDgyN1wiLFwidXJsX2lkc1wiOltcIjliODhhMDdhN2RkMGQ1MGQwOTlmMjE0ZmMyMTBjNjk1ODE0YjkzMTlcIl19In0&source=gmail&ust=1708825190951000&usg=AOvVaw2M1GB7t7oJQb0CZfxrmWTV">https://www.bankrate.com/real-estate/existing-home-sales/</a><br /><br />Nashville is a Leader in Real Estate, Taxes, & Jobs: <a href="https://mandrillapp.com/track/click/30484894/www.gobankingrates.com?p=eyJzIjoic2huSnA2dGg5VVU0cUdLTXhBSU5xOHQ5RkhFIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5nb2JhbmtpbmdyYXRlcy5jb21cXFwvaW52ZXN0aW5nXFxcL3JlYWwtZXN0YXRlXFxcL3RvcC0xNS1iaWctY2l0aWVzLWZvci1yZWFsLWVzdGF0ZS12YWx1ZS10YXhlcy1hbmQtam9iLW9wcG9ydHVuaXRpZXNcXFwvXCIsXCJpZFwiOlwiNmJlOTlhMTk3NGM0NGE0Mjk2NjZlNDQxMTQxMzA4MjdcIixcInVybF9pZHNcIjpbXCIyZDQ0YmZiYzk4MjdjNzliZmU3OTIzOGI4YTIzYTBlN2UxY2QzZTI4XCJdfSJ9" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://mandrillapp.com/track/click/30484894/www.gobankingrates.com?p%3DeyJzIjoic2huSnA2dGg5VVU0cUdLTXhBSU5xOHQ5RkhFIiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3d3dy5nb2JhbmtpbmdyYXRlcy5jb21cXFwvaW52ZXN0aW5nXFxcL3JlYWwtZXN0YXRlXFxcL3RvcC0xNS1iaWctY2l0aWVzLWZvci1yZWFsLWVzdGF0ZS12YWx1ZS10YXhlcy1hbmQtam9iLW9wcG9ydHVuaXRpZXNcXFwvXCIsXCJpZFwiOlwiNmJlOTlhMTk3NGM0NGE0Mjk2NjZlNDQxMTQxMzA4MjdcIixcInVybF9pZHNcIjpbXCIyZDQ0YmZiYzk4MjdjNzliZmU3OTIzOGI4YTIzYTBlN2UxY2QzZTI4XCJdfSJ9&source=gmail&ust=1708825190951000&usg=AOvVaw1BqLtPPlkTmVHjjHzYSGNK">https://www.gobankingrates.com/investing/real-estate/top-15-big-cities-for-real-estate-value-taxes-and-job-opportunities/</a>
MY THOUGHTS<br /><br />Rarely will Builders drop the price of their homes. First, they don’t want to make the folks mad who already purchased a home in the neighborhood. Plus, they want to continue to raise the price as they sell out the development.<br /><br />One of the links in the deals section is New Home Price Drops. Every one of these New Construction Homes had a 5% (or greater) Price Drop. While 5% doesn’t sound like a lot, when you do the math…that’s like $20,000 on a $400,000 home.
In addition, many of the builders are offering incentives in the form of closing costs, upgrades, and special financing. It’s not uncommon to see builders offer another $10,000 - $20,000 in incentives. It’s a great time to get a good deal on New Construction.<br /><br />If you or anyone you know is considering New Construction this year, let me know. I have the details on almost every new development in Middle Tennessee.
What do you think will happen this year in Nashville Real Estate? text 615.519.0983 and let me know. <br /><br /><img src="https://assets.site-static.com/userfiles/702/image/Nashville_Real_Estate_Jobs_Taxes.jpg" width="1024" height="1024" alt="Nashville Real Estate Jobs Taxes" />2024-02-24T16:08:13-07:002024-02-24T16:16:41-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:8635Introducing: Nashville Housing ListSteve Jolly here. I'll be with you every week throughout the housing season bringing you the latest on the best deals, money news, and my thoughts on the market. If this once-a-week email is too much for you, then hit the unsubscribe button below. I promise...it won't hurt my feelings.
<br />For the rest of you, Let's Get to Business
DEALS
INVESTOR ALERT: This home in West Meade goes to auction online with a starting bid of $286,000. The auction runs from Saturday - Tuesday. Reach out to me for more information. <a href="https://www.nashvillerealestatenow.com/property-search/detail/38/2571539/5919-old-harding-pike-nashville-tn-37205/">https://www.nashvillerealestatenow.com/property-search/detail/38/2571539/5919-old-harding-pike-nashville-tn-37205/</a>
NEW CONSTRUCTION < $400,000: <a href="https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1561734">https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1561734</a>
> 10% PRICE DROPS: <a href="https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1561746"> https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=1561746</a>
LUXURY HOMES: <a href="https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=13146">https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=13146</a>
<a href="https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=13146"></a>
MONEY
Rates Up After PPI Shows Higher Inflation: <a href="https://www.mortgagenewsdaily.com/markets/mortgage-rates-02162024">https://www.mortgagenewsdaily.com/markets/mortgage-rates-02162024</a>
Japan and the UK are in a Recession: Are We Next?: <a href="https://www.cnn.com/2024/02/16/economy/japan-uk-us-recession-explainer/index.html">https://www.cnn.com/2024/02/16/economy/japan-uk-us-recession-explainer/index.html</a>
<a href="https://www.cnn.com/2024/02/16/economy/japan-uk-us-recession-explainer/index.html"></a>
MY THOUGHTS
Most experts expect us to enter a recession sometime during 2024, and this has many in the housing market scared. I see it as a good thing, as it will force the Federal Reserve to lower the Federal Funds Rate to stimulate the economy. This typically has a similar effect on mortgage rates. Housing is the biggest engine in our economy and accounts for 20% of the GDP, so it's the easiest way for the FED to throw water or gas on the fire.<br /><br />Now if you're worrying about home prices...don't be too concerned. In 5 of the last 6 recessions, home prices have risen or held steady. The only time prices have dropped in the last 50 years was during the Great Recession. That was a worldwide, catastrophic financial market meltdown. History tells us only to expect those once every century or so. I wouldn't expect that this year, but what do I know? <br /><br />The end result of the Fed lowering rates by one percent or more will likely be higher activity, higher prices, and lower rates. I would not expect a dramatic drop in rates by the FED until our GDP starts shrinking. I'll keep my eyes on this for you.<br /><br />What do you think will happen this year? Text me and let me know: 615.257.9996.
<br /><br /><img src="https://assets.site-static.com/userfiles/702/image/nashvillehousinglist.jpg" width="1024" height="1024" alt="Nashville Housing List" title="Nashville Housing List" />2024-02-16T19:56:16-07:002024-02-16T20:25:50-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:4216If you waited, this is what it cost you to buy a home in NashvilleHey! Steve Jolly here with Benchmark Realty. Today on the Moving to Nash Show, we going to start a new series for buyers. The first show of this series is on the cost of waiting to buy a home in Nashville over the last year.
While the math might be shocking, that is not my goal today. Instead, I want to light a fire under you. Especially those who want to make a move in 2022 and start creating generational wealth for yourself and your family.
I completely understand those who took a break because the market was terribly frustrating. Now, let me show you why you shouldn’t do it again.
<img src="https://assets.site-static.com/userfiles/702/image/Median%20Sales%20Price.jpg" width="400" height="400" alt="Median Sales Price" class="img_box_right" style="margin: 5px 10px;" />Let’s talk about the median sales price. One year ago, the median cost of a home in Greater Nashville was $334,022 based on data from the Realtracs MLS. Today, the median price home has increased to $415,000. That’s a 24% increase in just 12 months. Or, a gain of $80,978 for the year, which equals $6,748 each and every month.
Now that’s a lot of money. Let’s take a look at rates next.
<img src="https://assets.site-static.com/userfiles/702/image/Higher%20Rates.jpg" width="400" height="400" alt="Higher Rates" class="img_box_left" style="margin: 5px 10px;" />In addition, the average interest rate has increased 1.32 percentage points over that same period from 2.68% in December 2020 to about 4.0% today. One hundred thirty-two basis points seem like pocket change until you spread that cost over the life of a loan.
On a $400,000 loan, the total interest paid over 30 years at 2.68% is $182,541. Now at 4%, that same loan will cost you $287,478 interest. That’s a difference of $104,936 or $291 per month in additional monthly payments.
Wow!
<img src="https://assets.site-static.com/userfiles/702/image/Total%20Potential%20to%20Wait.jpg" width="400" height="400" alt="Total Potential Cost to Wait" class="img_box_right" style="margin: 5px 10px;" />When you add the $88,000 in price appreciation plus the $104,000 of interest rate gain. The potential cost to buy a median price home in Nashville has increased by $185,914 in just one year.
And, most experts expect prices and rates to increase further in 2022 due to rising inflation and the housing inventory crisis in Nashville.
That’s shocking, but don’t let it stop you in your tracks. Let it be the wind under your wings, so you don’t fall further behind by sitting on the sidelines.
If you can’t afford a $400,000 home, don’t worry. We helped several first-time homebuyers last year, with one as low as $195,000 in Nashville. We know how difficult this can be, and have created systems to make you successful in this crazy market.
If you have questions, please text or call me at 615.257.9996. Don’t lose thousands waiting another year.
Next week on the Moving to Nash show, we will continue this series for homebuyers in order to help you move into your new home this year.
Take care!
2022-01-20T10:32:00-07:002023-02-24T11:25:24-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:4196Top 3 Housing Market Predictions for 2022 - Nashville
<img src="https://assets.site-static.com/userfiles/702/image/2022%20Nashville%20Housing%20Forecast.jpg" width="400" height="400" alt="2022 Nashville TN Housing Forecast" class="img_box_right" style="margin: 5px 10px;" />Today on the Moving to Nash Show, we going to kickoff the new year with my Top 3 Housing Market Predictions for 2022 in Nashville. If you’re thinking about moving in the near future, then this show was made for you.
My first prediction is that housing inventory, or the supply of homes for sale, will continue to be the number one problem in Middle Tennessee for the foreseeable future.
This supply imbalance was caused by a number of factors including an increase in demand for single-family homes, a decade of below-average new home construction, record low interest rates, and an anti-growth sentiment in many communities.
Experts estimate that it will take five years for new construction to catch up with demand across the country, and it could take even longer in Nashville due to number of people and jobs moving our way.
#2. Nashville real estate will continue to appreciate, but at a slower rate than last year. In 2021, the median sales price of a home in Nashville rose 22.4% from $339,000 to $414,900. Experts predict home value increases in 2022 will range from 6% up to a high of 19.8% locally.
While that sounds amazing, double-digit appreciation year-after-year is not healthy for our real estate market. Due to action recently announced by the Federal Reserve Bank, I expect appreciation to be closer to 8 - 10% this year. This is still above our 10-year average of 7.2% annual appreciation for single family homes in Greater Nashville.
If you are waiting for a downturn in the economy to buy you next home, just know that prices appreciated in Nashville during five of the last six recessions going back to 1979. Price appreciation, or the rate at which prices increase, is expected to slow down from last year, however, I would not expect home prices to go down in value anytime soon.
#3. While the supply of homes remains our number one problem, the biggest risk to the market is rising interest rates.
In December, the Federal Reserve announced changes to their monetary policy of keeping rates artificially low to fuel the economy. These changes will lead to an increase in interest rates which destroys a buyer’s purchasing power.
A one percent increase in interest rates reduces buying power by eleven percent. For example, if you were pre-approved to buy a home for $500,000 and the rates went up by 1%, your new pre-approval amount would be reduced by $55,000 to $445,000.
That’s a lot to swallow in a rising market.
To recap, the top three trends for Nashville Real Estate in 2022 are Low Inventory, Slowing Price Appreciation, and Rising Interest Rates.
If you are considering making a moving in 2022 and have questions, please call or text me at 615.257.9996.
I look forward to sharing my knowledge with you.
Here’s what one of our recent clients had to say about us.
“Steve is simply amazing. Professional, expert, client service oriented with a huge dose of going above and beyond.”
Next week on the Moving to Nash show, we will start a new series for home buyers and talk about how we help you move into your new home this year.
Take care!
Peace & Love y’all2022-01-13T16:31:00-07:002023-02-24T11:31:33-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3967Avoid This Big Mistake When Pricing Your Home<img src="https://assets.site-static.com/userfiles/702/image/Avoid_This_Pricing_Mistake.jpg" width="400" height="400" alt="Avoid This Big Mistake When Pricing Your Home" class="img_box_right" style="margin: 5px 10px;" />Hey! Steve Jolly here with Benchmark Realty. Today on the Moving to Nash Show, we going to continue our series for homeowners. If you’re thinking about selling your home, then this is for you.
Today, I want to talk with you about price anchoring and how important it is to you when selling your home.
Anchoring is a tendency of the human mind to focus on the first available information and give it more value than what you learn later.
It’s a good thing because it helps us to make educated guesses when we do not have all of the information that we need. However, you need to understand its power or it could be used against you.
Here’s what I mean.
In a scientific experiment, students and Realtors toured a property and then asked to estimate the home’s value.
During the tour, each person was given a randomly generated list price, and you’ll never guess what happened. The higher the list price given, the higher the value of the home was estimated.
Here’s the kicker.
This was true for both professionals and non-professionals.
This is why they call it an anchor. Learning that initial value locks it in your mind and every decision you make is biased against that first number.
Smart agents understand this and will use it to your advantage when selling your home…if they know how to properly value it.
This is a big problem in our industry. The average agent hasn’t put in the time to learn to analyze the market and crunch the data accurately.
This is important to you because people are going to value your home based on the number you ask for it, so it better be correct the first time.
If you overprice the home, it can results in little to no showings. Sitting for weeks wasting your time while you are paying thousands in interest that you’ll never see again.
Even if you get an accepted offer, I’ve seen buyers have instant remorse when they think they have overpaid. So much anguish that they cancel the contract or make unreasonable demands during the inspection period to make up the difference. That’s just more frustration and wasted time for you.
And, if you make it past inspection, you can still have the appraiser throw a wrench in your gears because they did not have the data to back up your inflated price.
If you list too low, you run the risk of leaving money on the table.
Both of these weaken your ability to negotiate and close the best deal for your home.
That’s why early in my career, I learned the tactics and approach appraisers use to value property. I combined that with the expert market knowledge into a powerful weapon that my clients use to their advantage.
If you are interested in what your home might be worth in today’s market, please call or text me at 615.257.9996.
I look forward to sharing the data with you.
Here’s what one of our recent clients had to say about us.
“[Steve] was spot on when it came to listing price and where the house would value. We sold our house the first day it was on the market - and I know it was because of him!!”
Next week on the Moving to Nash show, we will continue our series for home sellers and talk about how we help you become a better negotiator.
Take care!
Peace & Love y’all2021-10-14T07:45:00-07:002021-10-14T07:50:05-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3949How Marketing Your Home Like This Generates Massive Profits<img src="https://assets.site-static.com/userfiles/702/image/MassiveProfits.png" width="400" height="400" alt="How Marketing Your Home Like This Generates Massive Profits" class="img_box_right" style="margin: 5px 10px;" />Hey! Steve Jolly here with Benchmark Realty. Today on the Moving to Nash Show, we going to continue our series for homeowners. If you’re thinking about selling your home, then this is for you.
Today, I want to talk with you about marketing and how important it is to you when selling your home. Because it is a seller’s market, most people don’t value advertising your listing until they hear this.
The secret to getting the highest offer is through maximizing competition by getting as many buyers excited about your home as possible.
Now, you could take the approach of the average agent, put it in the MLS, cross your fingers and wait for results. You might even make a post on Instagram or Facebook to share the listing.
In this market, you’ll likely sell your home, but you’ll never know if you left money on the table.
Now, If there was a proven way to generate massive buyer interest, double the number of showings and produce bottom-line results at no extra cost to you, would you use it?
Here’s what we do for each of our listings that you won’t find from any other agent in Nashville.
First, we are going to create ads for your home on each of these platforms and pay to distribute them to the maximum number of people.
Now, these are not advertising our services. These ads feature your home and can be found on Google, Facebook, Instagram, Youtube, Email, and Zillow.
We are not just creating a post on Facebook and headed to the golf course. We are spending money to get your home directly in front of the 7,362 people in our database, and thousands of people online who are interested in buying a home in Nashville.
Yes, we can directly target those interested in buying a home just like yours.
When they show interest by clicking on the ad, we direct them to our website where we can follow up with them everywhere on the web to remind them of your home.
And here are the results from three homes we recently sold.
2025 Nolencrest Way
This ad was shown 17,553 times to a total of 9,123 people. So each person saw the ad about two times.
Of those 9,123 people, 852 were interested enough to click on the ad to view the details of the home. This resulted in 22 in-person showings when similar homes in the area averaged only 4 showings in that same time period.
The home was under contract within 2 days, sold over list price, and was the highest resale price in the neighborhood.
600 Vintage Green
This ad was shown 23,845 times to a total of 12,120 people. So each person saw the ad about two times.
Of those 12,120 people, 1,148 were interested enough to click on the ad to view the details of the home. This resulted in 15 in-person showings when similar homes in the area averaged only 7 showings in that same time period.
The home was under contract within 4 days, sold at list price, and was the highest sales price per square foot in the neighborhood.
6678 Clearbrook
This ad was shown 21,505 times to a total of 10,734 people. So each person saw the ad about two times.
Of those 10,734 people, 1,305 were interested enough to click on the ad to view the details of the home. This resulted in 8 in-person showings when similar homes in the area averaged only 3 showings in that same time period.
The home was under contract within 2 days, sold $30,000 over the list price.
And to note all three of these homes were priced at the very top of the market based on recent comps and expected appreciation.
If you want a copy of this report, or want to find out how to get results like this for your home, give us a call or text at 615.257.9996.
We would love to share this with you.
Next week on the Moving to Nash show, we will continue our series for home sellers and talk about the importance of pricing and how that can make or break your home sale
Take care!
Peace & Love y’all2021-10-07T09:11:00-07:002021-10-07T09:16:57-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:39353 Things You Need to Know About the Nashville Market<img src="https://assets.site-static.com/userfiles/702/image/ThreeThingsNashvilleMarket.jpg" width="400" height="400" alt="3 Things You Need to Know About the Nashville Real Estate Market" class="img_box_right" style="margin: 5px 10px;" />Hey! Steve Jolly here with Benchmark Realty. Today on the Moving to Nash Show, I want to start a new series for homeowners. If you’re thinking about selling your home, then this is for you.
The first thing I want to talk about today is the Nashville Market Heat Index. You’ve heard a lot about it lately because it is the #1 factor driving the market today. There is simply not enough supply for the current demand.
Fortunately, buyers in this area have a habit of slowing down in the fall and winter months. Less competition is good news for buyers who have been struggling to find success this year.
The heat index across Greater Nashville shows that slowing trend with an 86 score. That’s down from a 92 last week.
It means for every 86 homes that sold in the last 30 days, only 100 new homes were listed for sale. Our five-year average is 69, so it’s still a hot market but showing signs of typical seasonal trends.
Davidson County alone hit 90 and red-hot Williamson registered 97 on the heat index this week.
If you want to sell this year, I still have time to make that happen for you if you act quickly.
Just give me a Call/Text at 615.257.9996.
Now, if your timeline is early next year, I’d still call, and here’s why.
Marketing is everything when it comes to getting the best price for your home. And pictures are a huge part of how the public views your property.
Exterior photos that show your curb appeal look best right now, especially compared to late fall and winter pics.
We can have the photos shot now, while your yard still looks gorgeous. And be ready to list when it makes sense for you.
This also gives us more time to get your custom marketing plan designed and optimized.
Over the last few years, we’ve put a ton of resources towards marketing our listings that resulted in more showings, more competition, and more profit for you, our clients.
You won’t get this level of digital marketing for your home from any other Nashville agent.
Next week, on the Moving to Nash show, I’ll show what we do to market your home and the results. So you can see for yourself.
Now, before we go, here’s what you learned today.
1. The market slows down this time of year, every year. <br />2. It’s still a good time to sell, Get your pictures now.<br />3. Buyer’s who have been struggling. This is your time.
See you next week.
Peace & Love Y’all2021-09-30T11:01:00-07:002023-02-24T11:17:02-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3917When is the best time to sell your Nashville Home?<a href="https://youtu.be/ZsXb6rxWqTo"><img src="https://assets.site-static.com/userfiles/702/image/Best_time_to_sell.png" width="600" height="337" alt="When is the best time to sell your home?" style="margin: 5px 10px;" /></a>
Hey! Steve Jolly here with Benchmark Realty and the Moving to Nash Show. Today I want to talk with you about real estate myths and show you…
When is the best time to sell your home?
That’s one of the most common questions in real estate. For all practical purposes in Nashville right now, the best time to sell your home is when you are ready. As I showed you a few weeks ago, only one time in the last forty years has median prices dropped in Nashville.
Let’s set that aside and get back to the heart of the question. You want to know from an investment standpoint, when should you list your home.
The customary answer you might receive from an agent is the spring and summer are the best times to list your home. That logic is based on buying patterns that have remained steady for decades.
In this part of the country, people get excited about buying homes in the spring, sales peak in the summer and the market slowly winds down through the end of the year.
In other words, the demand (or buyer competition) is highest in the spring and summer months. The median sales price tends to follow the same pattern.
So, it’s really the demand in relation to the supply of homes that dictates when it’s the best time money-wise to sell your home.
All this year, we’ve experienced record levels of buyer activity and fewer homes for them to purchase. And, You can’t point the finger at one culprit.
Banks and Builders have taken a cautious approach to single-family development since the Great Recession. Municipalities have made it harder to build. Wall Street has been purchasing homes for rentals by the thousands. Interest rates are at all-time lows. People have been living in their homes longer before moving. A generation of Americans who were enjoying their mobile lifestyle decided to become homeowners when the pandemic hit.
All this and more has our demand/supply ratio way out of wack.
The number of new listings versus the number of sales in a 30-day period is what I call the heat index. And it’s a good way to measure the short-term supply & demand.
For the last five years, the heat index has averaged 69. This means that for every 69 homes that sold in the last 30 days, 100 new listings came on the market. Now keep in mind, the last five years of real estate in Nashville have been phenomenal. In 2017, Nashville was the number one market in the country. And all five of those years, we have been a top ten market.
In the best five years on record in Nashville, our heat index averaged 69. Since the beginning of the year, the heat index has jumped into the 90s for Greater Nashville, and today the index sits at 92.
That means for every 92 homes that sold, only 100 new ones came on the market. We’re barely replacing the ones that sell right now.
So, anytime in the near future is a great time to sell if you are ready to move.
Now, If you want to sell your home this year, there is still time to make it happen if you act fast.
You can Call/Text me with any questions at 615.257.9996.
However, if you thinking of selling in the next year or two, keep an eye on interest rates. When they start creeping up, and they will soon. The demand will go with it. That’s because every 1% increase in rates is equivalent to an 11% loss in purchasing power.
That’s all I have for you today. I hope you enjoyed this series on myths in Nashville Real Estate. Next week, I’ll be back with a new series of episodes for home sellers.
Peace & Love!!!2021-09-23T07:14:00-07:002021-09-23T07:23:29-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3968This is the Foundation of Every Successful Negotiation<img src="https://assets.site-static.com/userfiles/702/image/The_Foundation_Negotiations.jpg" width="400" height="400" alt="This is the Foundation of Every Successful Negotiation" class="img_box_right" style="margin: 5px 10px;" />Good Morning! Steve Jolly here with Benchmark Realty and the Moving to Nash Show. Today I want to talk to you about…
Secret #4: The Foundation of Every Successful Negotiation
The last three episodes prepared you for what we are going to talk about today. The Foundation of Jim Camp’s World-Class negotiating system, that’s your mission and purpose.
Now I know what you’re thinking. What does your mission and purpose have to do with buying and selling real estate?
You probably see the mission and purpose like everyone else does. It’s all about you.
In a negotiation, Jim would argue that your mission and purpose should be based in your adversary’s world, not your own. It should be about the other side and what they hope to get out of the negotiation.
If they cannot see true value in your offer, you will not like their response.
Here’s a good example.
There was a small lubricant company based in the Mid-West that grew to own half of the US market share in the large-scale hauling equipment industry. How did they gain this market share against all of these competing multi-national oil companies?
Instead of selling lubricant like the competition, they sold trouble-free operations. This small company discovered that people didn’t want to buy oil, they just wanted their equipment to work reliably.
Their sales team sent in engineers to review their client's operations, develop a maintenance plan, and then sold the oil to go with it.
It was genius.
Not only did they get the sale, but they created real value for their clients at the same time.
That’s what you need to do with your offer.
Research the property, the sellers, and the agent on the other side of the transaction. Ask the right questions, so you uncover their problems, perceptions, and goals. Dig deep to discover every potential unanswered question.
In this market, you need to all this in record time, so you can present an offer that the other side sees as the best solution to their problem. You want them to perceive it as the highest “value” option that they have to solve what they see as their problem.
If you want to work with agents who understand how to successfully negotiate, call or text us at 615.257.9996. Gretchen and I are here for you.
Here’s what one of our clients recently said about us.
We had very specific criteria for our new home and after searching high and low for several months, Steve wrote to existing homeowners that had homes in our target area that we were interested in. Lo and behold two individuals responded and we ended up offering a contract on our perfect home BEFORE it went on the market.
Next week, we will wrap up this series by showing you the most powerful word in negotiation. The word No.
Thanks for tuning in…Peace & Love2021-06-29T07:54:00-07:002021-10-14T07:58:30-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3954How to Drive Negotiations and Keep it on Track<a href="https://youtu.be/5L_8JNQeiNI"><img src="https://assets.site-static.com/userfiles/702/image/How_to_drive-Negotiations.png" width="400" height="224" alt="How to Drive Negotiations and Keep it on Track" /></a>
Steve Jolly here with Benchmark Realty and the Moving to Nash Show. Today I want to talk to you about…
Secret #3. How to Drive and Keep Negotiations on Track
Sean D’Souza is a marketer who wrote a brilliant book about buyer psychology called The Brain Audit. In that book, there is a famous story about arriving home from a long flight.
If you checked seven bags when you boarded the flight and then when you got to baggage claim only six of those bags are on the conveyor, would you leave the airport?
Of course not…You won’t leave until you get all seven bags.
Sean goes on to say that the same thing happens to your clients. How each one of those seven bags represents information that the client needs so they can understand what you are selling and buy it right away.
It’s an amazing book. If you are in business of any kind, you should read it. And then read it again.
Over the years, I’ve thought about that conveyor belt many times when working on problems in my own business. Then, all of a sudden it hit me like a ton of bricks.
There is a meta driving force behind this human behavior that Sean describes in The Brain Audit. And, I believe is the reason why his ideas work so well.
Here it is.
People will not make the decision to move forward if they have unanswered questions.
It seems so simple, yet it is incredibly powerful in the hold it has on us. Mostly because bad decisions lead to even worse consequences. Your primal fear of paying for your mistake will stop you dead in your tracks.
People will literally stay in the same place for years at a time until they get the information that they needed to hear. Then and only then, will they take that next step forward.
Because real estate is a journey of a million steps, it’s not uncommon for you or the person you are negotiating with to get stuck.
Sometimes you know the questions that need to be asked. Other times, your gut says that you just don’t know enough to move forward.
That’s when you need to dig deep to understand their concerns and then communicate the right information in a way that makes people comfortable enough to understand and make a decision.
Or better yet, hire an advocate who excels at doing that every day. If you have questions about negotiations or real estate, you can Call/Text Gretchen and me at 615.257.9996. We’d love to hear from you.
I believe that good Negotiations are key to your success in real estate. Here’s what one of our clients recently said about us.
"Steve has also provided us with great advice during the listing and negotiating phases and has done so the 3 times we've worked with Steve. Certainly recommend and will be using him again!"
We still have two more episodes in this series on negotiations. Next week, we are going to talk about the one thing that is the foundation to your success in every negotiation.
We’ll dive into that next week on the Moving to Nash Show. Thanks for tuning in.
Peace & Love Y’all.2021-06-22T13:10:00-07:002021-10-07T13:24:34-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3936The Secret to Winning Consistently<img src="https://assets.site-static.com/userfiles/702/image/mono.jpg" width="400" height="400" alt="The Secret to Winning Consistently" class="img_box_right" style="margin: 5px 10px;" />Good Morning! Steve Jolly here with Benchmark Realty and the Moving to Nash Show. Today I want to talk to you about…
Secret #2. Consistently Winning Negotiations. Last week, I said that to be successful, you need to understand the person on the other side of the table. As you are doing your homework and asking questions, what do you need to know about them?
First and foremost, you need to understand your opposition’s problems and their pain. This is rarely straightforward and easy in real estate.
Good detective skills and the ability to “walk in another’s shoes” are key.
Jim Camp, The Expert in Modern Negotiations, tells the story of a family who wanted to sell their business. One of Jim’s clients wanted to purchase the company, however, the price was significantly higher than the true market value.
Jim discovered that the price was high because the family was hesitant to sell. The CEO, founder, and head of their family recently passed. Even though they really needed to let the business go, they were afraid his legacy would be lost forever.
So, Jim’s client offered them a fair price for the company to include a memorial on the grounds to recognize and honor the founder’s achievements. The family would even get to choose the artist and the design, at no cost to them.
The family was blown away and accepted the offer on the spot.
You’ve seen the same thing happen in real estate too. For example, the buyer's “love letter” that tugged on the seller’s heartstrings and convinced them to accept the offer.
Or the one who let the sellers live in the home for two months post-closing at no cost, so they could avoid sleeping at the in-laws until their new home was completed.
Now, this is why it worked so well.
First, Jim took the time to research and ask questions which revealed a significant problem that was not readily apparent. Then, his client created a vision for the family that not only solved the problem of selling the business. It also relieved their biggest fear. The loss of their family's legacy.
It’s not always about the money. Don’t get me wrong. Money is important to most people, but avoiding pain ranks right up there with it.
The only way you are going to learn their pain is to do your homework. Or, work with an agent who understands how to discover problems and craft a vision with your offer of how you are the best solution to their problem.
If you have questions, you can CALL or TEXT me at 615.257.9996. Gretchen and I would love to hear from you.
Now, the last two weeks we’ve talked about the research necessary to negotiate like an expert. Next week, we are going to talk about why negotiations derail and the best way to keep them on track.
We’ll dive into that next week on the Moving to Nash Show. Thanks for tuning in.
Peace & Love Y’all.2021-06-15T11:07:00-07:002021-09-30T11:12:22-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3690The Secret to Winning Every Negotiation Before it Starts<img src="https://assets.site-static.com/userfiles/702/image/TheSecretWinningNegotiations.jpg" width="400" height="400" alt="The Secret to Winning Negotiations Before They Start" class="img_box_right" style="margin: 5px 10px;" />Secret #1. Negotiations begin long before you sit down at the table.
Most agents wait until they submit an offer to begin negotiations. And in this market, you’ll likely be too late to have a chance at winning. That’s because successful negotiations are like building a house. You need to lay the foundation before you start framing.
The grandfather of negotiations Jim Camp would turn down clients who only wanted him involved when all of the parties come to the table. He would tell them their approach was a big mistake and would cost them a ton of money.
In the short run, it cost Jim a small fortune too.
However, he made it up over time by sticking to his winning formula which produced results against the toughest competition in the world.
Jim spent years negotiating nine-digit deals for multinational corporations and governments around the world. He also was instrumental in helping Chris Voss, of Never Split the Difference Fame, revamp their FBI Hostage Negotiation Program. And taught at the Harvard School of Negotiations.
To say that Jim was an expert is a huge understatement. He is The Expert in Modern Negotiations.
Over the next several weeks, I’m going to share Five Rules for Negotiations that will instantly make you more confident and help you secure better deals.
The first lesson. Don't Wait Until You're at the Table to Begin Negotiations
Long before you sign any offer, your agent needs to research the property, the owners, and the agent on the other side of the transaction. By research, I mean more than just looking at the details online and walking through the home.
I know the market is moving fast, however, that doesn’t mean that you shouldn’t understand every important feature and detail of the property you are buying.
Things like listing details of similar sales, market reports, pricing analysis, flood maps, permit history, HOA rules/by-laws, lists of recent upgrades, and property condition disclosures are commonly shared.
You should be getting these things already.
If we have something that needs extra attention, we take a deep dive to show you where to find the truth.
Every one of these items can significantly affect the value of your home, and we feel you need all of it to make the best decision on the price you want to offer.
Most of this information is publicly available if you know where to go and how to get it. In these market conditions with your busy life, you don’t have the hours needed to dig up on your own.
If you want to work with someone, who can show you the answers quickly, then give me a text/call at 615.257.9996. I would love to hear from you.
Up to this point, we’ve only discussed researching the property. Another huge aspect that you need to understand is the person on the other side of the table. Understanding their problems and designing your solution around it, is Secret #2.
We’ll dive into that next week on the Moving to Nash Show. Thanks for tuning in.
Peace & Love Y’all.
2021-06-08T07:27:00-07:002023-02-24T11:32:31-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3680How to Find Quality, Affordable Contractors in Nashville<img src="https://assets.site-static.com/userfiles/702/image/13.jpg" width="400" height="400" alt="How to find affordable, quality contractors in Nashville" class="img_box_right" style="margin: 5px 10px;" />This is the final episode in this series for home buyers. This week we are going to talk about our network of professionals and how that helps you.
I heard this question the other day.
“I've just started to look for a painter and it seems a little overwhelming. There are word-of-mouth recommendations, then there are free online reviews and Angie's list. I've heard mixed reviews on the value of Angie's List, and my first thoughts were word of mouth is best, however, what might be good work to some may not be for me.
How do you find a quality and affordable contractor?”
I know the feeling.
Being in the business for the last sixteen years has taught me this. Good contractors are like Mamaw’s banana pudding. Here today, gone tomorrow.
Here’s one thing you need to know as a buyer. Most homes purchased today in Nashville come without any seller repairs. In fact, some people are waiving the entire inspection. Unless you are a General Contractor, I would never recommend that.
You need an inspection so you know what you’re buying and what needs to happen post-closing. Because of that, Now more than ever, Homebuyers need reliable tradespeople. And they are hard to find.
Also, timing is critical. Some repairs are best done before you move in. With the home improvement business busier than ever, you will need more than one option as many are booked months in advance in Nashville.
Over the years, our clients received the best results via word-of-mouth recommendations from recent customers of the contractor.
We gather that feedback, compare notes with our network of trusted colleagues, and try to give you several options to choose from when you need to find the best vendor for you.
And when we get a whiff of negative feedback, off with their heads.
As much as we’d like to…we can’t really do that. We will take them off the list pronto.
Here are a few of the vendors we shared with clients in the last thirty days.
Lenders<br />Appraisers<br />Attorneys<br />Flooring Contractors<br />Handymen<br />Window Cleaners<br />Pressure Washers<br />Plumbers<br />Roofers<br />Property Managers<br />Cleaners<br />Landscapers<br />Kitchen/Bath Renovators
Even if you are not a client, I’d love to help you too. All you need to do is CALL/TEXT 615.257.9996 today.
Here’s what one of our clients recently said about working with us.
“Our experience with Steve and Gretchen has been first-rate, and they are the consummate real estate professionals. I've been licensed myself in two states over nearly 30 years and realize what it takes, and their system and guidance through the process make it seamless and easy for the customer.”
This was the last episode in our buyer's series. Over the last several weeks we covered how to formulate the overall gameplay, finding the right neighborhood, writing a winning offer, negotiating, navigating the paperwork, and taking advantage of our network of professionals.
If you want to go back and review any of these, you can find them at the MovingToNash Youtube Channel or <a href="https://www.nashvillerealestatenow.com/buyers/">https://www.nashvillerealestatenow.com/buyers/</a>
For the next few weeks, we are going to focus on one skill that will help you whether you are a buyer or seller and it’s more important than ever. How to Master Negotiations and Win.
Peace and Love Y’all!
2021-06-01T13:26:00-07:002021-06-01T13:32:34-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3679Nashville Home Seller uses Little-Known Technicality to Cancel Contract<img src="https://assets.site-static.com/userfiles/702/image/12.jpg" width="400" height="400" alt="Seller uses little know technicality to cancel contract" class="img_box_right" style="margin: 5px 10px;" />This is #5 in our series for buyers and this week, we will talk about contract paperwork. How to make sense of it, and most importantly, how to protect yourself. I saw this story posted online this week. Here's what they said.
We finally got an offer accepted!! We're so happy and excited... Our 5th offer in 4 months of looking for a place. The morning after signing the papers to be in the contract the seller's agent decides to use a technicality to back out of our contract…Our agent feels like they wanted to back out because a higher offer came in. There's definitely something strange going on but we're not sure what.
The market for buyers is crazy right now, and the last thing you want is sloppy paperwork to cost you your dream home. That would be devastating to go from happy and excited one minute to pit-in-your stomach sick due to a tiny mistake.
Like forgetting a minor detail.
I’ve seen an entire contract invalidated because one tiny box on a ten-page Purchase and Sale Agreement was not checked.
To protect yourself, you need to find an agent who deeply understands the paperwork and can explain it in simple terms
Then you need to learn it yourself to make the best decisions for your family and ensure it's spelled out properly in the documents. To get the results you desire, both you and your agent need to bring your A-game.
Here’s how Gretchen and I like to help you get prepared.
First, we are going to send you copies of a sample contract package. Not just a blank contract, but completely filled out like we were submitting a real offer. We will send you every document that we expect you to sign and then give you plenty of time to read through it.
Next, I want to give you the opportunity to ask any questions or voice concerns. let’s resolve them right away.
Then, if you feel comfortable, we can walk through the entire contract. Line by line. Section by section. In as much depth as you need to feel confident.
This takes some time, and most of our colleagues breeze through this process. I believe that well-educated clients make the best decisions. And that’s why we want to invest the time in you.
While it can be done, one of the worst times to do this is when you’ve found the home of your dreams and you’re under a deadline to submit an offer.
So here is what I recommend.
CALL/TEXT me now at 615.257.9996 and let’s talk early on in your process. So when you’re ready to pull the trigger, you're already set for success.
Here’s what one of our clients recently said about us.
Steve was so easy to work with, he took care of everything…I thoroughly enjoyed working with him, and highly recommend him, even if you are just moving across town.
Next week, I want to talk with you about how to tap into our network of professionals to make your job easier and less frustrating.
2021-05-25T13:16:00-07:002023-02-24T11:22:16-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3678Here's your Inside-Information for Price Negotiations in Nashville.<img src="https://assets.site-static.com/userfiles/702/image/Inside%20Info%20for%20Price%20Negotiations.jpg" width="400" height="400" alt="Inside Information for Price Negotiations in Nashville" style="margin: 5px 10px;" class="img_box_right" />This is my fourth video in a series for buyers in Nashville.
I’m here to say that not everything is selling over list price, but still…it’s a significant amount. Over the last thirty days, thirty-nine percent of the homes sold in Metro Nashville were over list price.
The highest was $310,000 over list. Now, Those are far and few between. And…At the other extreme, the lowest sold for $550,000 LESS than list price. The 30-day average for those that sold over list is $15,802 more than the price listed.
Now get this. Thirty-nine percent sold over list, another Thirty-seven percent sold for the exact list price, and 24% sold below list price.
With prices all over the board, when you see a home listed for sale, how do you know what to offer? Over? At List? Less? Nobody…I mean absolutely no one, wants to pay more than necessary.
What do you do?
First and foremost, you need an agent that can show you the likely sales price of the home and the premium people have been paying in this area for homes like the one you want. <br />If you don’t get this from your agent, you need a new one pronto.
Second, you need someone who understands that negotiations start before the offer is submitted. This is where the best agents earn their commission.
Too many agents skip engaging the other side and take your order instead. They ask you what you want to offer, fill in the blanks on a form, and submit it to the home seller. They might tell you some tactics that have worked for others.
If they don’t mention anything about the seller and their needs, that’s another red flag.
What’s wrong with that approach? Nothing…If you don’t mind wasting your time. <br />All kidding aside, this might be a successful approach in a slow market. However…that won’t work in Nashville 2021.
That’s because your average offer is built in the world of you, the buyer. It’s all about you and what you want. Just like 80% of the other offers out there. That won’t cut it in today’s competitive market when the seller can pick and choose what works best for them. That doesn’t mean you can’t get what you want.
Here’s what I do to make your offer stand apart from the competition and still work for you.
I try to have two conversations with the listing agent prior to submitting an offer. The purpose of the first call is to find out the seller’s goals, needs, and concerns. That information is our secret sauce.
Then, we use that feedback to craft an offer the home seller can’t resist because it’s designed for them and their unique situation.
With the second call, I paint a picture in the mind of the seller that we are the best combination of buyer, agent, and offer to get them to the closing table with the least amount of headaches and frustration.
Here’s an example of a recent win for one of my clients.
In my preliminary call to the listing agent, I discovered that the sellers are building a new home. They also wanted to transition from their current home to their new home without having to move into temporary housing. <br /> <br />Transitional housing a huge pain in the butt and rather expensive because you have to pay move twice.
I’m guessing most of my competition submitted their offer without ever talking to the seller. This is how 80% of the offers get submitted today. While it's true that the seller could have countered the close date with any one of the other buyers, they didn’t have to because we made it easy for them.
Knowing that my buyers had some flexibility in their move date, we used that and other information gleaned from the listing agent to leverage ourselves into the top position.
Proactively solving problems built trust with the seller and helped us move to the front of the line without having to throw money at the problem.
If you want to work with an aggressive agent who knows how to win in this market, then give me a call at 615.257.9996.
Next week, I want to talk with you about how to make sense of all the paperwork involved in the sale of your home. And the best way to protect yourself as a buyer.
2021-05-11T12:58:00-07:002021-06-01T13:22:59-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2960How to Write a Winning Offer in Nashville<img src="https://assets.site-static.com/userfiles/702/image/1.jpg" width="400" height="400" alt="How to Write a Winning Offer in Nashville" class="img_box_right" style="margin: 5px 10px;" />This is the 3rd story in our series for Buyers.
Last week I talked about the Smart Buyer system and how it helps solve your biggest problems. This week, I want to share our secret to helping clients write winning offers.
Now let’s get to business…
I heard this from a buyer the other day.
“Been looking for a bit now, it seems like every house that I put an offer on gets turned down or the house goes under contract before I get the chance to see it. People say to keep your emotions out of the home purchasing process but this is a very big investment and it’s difficult to not feel hopeless. I’m slightly beginning to think that everyone here has hundreds of thousands in cash”
Kinda feels like you’re in the home-buying friend zone, right?
The home buying process is tough because of supply and demand. Both in homes and building materials.
Record numbers of folks are looking to purchase a home right now. Interest rates are at all-time lows which just adds fuel to the fire. A decade of reduced construction activity constrains builders from making up the difference.
Here’s the bad news. We need 25% more homes listed for sale to meet the current demand.
Market forces and competition are beyond our control. So, you can’t focus on that if you are going to be successful.
It’s imperative that you focus on the things you can manage in order to give yourself the best chance to win.
Availability, accurate information, and your negotiation strategy all play a part in a winning game-plan.
Here are three things we do differently to give you the best chance to come out on top.
1. I block my schedule nearly every day to show homes. If you want to see one with us, we can make it happen quickly. If we have another appointment, we will call our partners who can step in at a moment's notice for you.
2. When you find the right home, then we are going to share all of the information and data with you. Unlike other agents, we don’t hold anything back. We will give you the details and photos on every comparable sale and listing within a mile. I’ll show you exactly which homes are the most similar to your top choice, their Pros/Cons, and how it affects the price.<br /><br />We also give you our best recommendation and all of the little-known strategies for writing a winning offer. In other words, what we would do if we were in your shoes. But the final decision is all yours with no pressure from us.
3. Early negotiation is key. At this point, too many agents would write up the offer with a bunch of tactics that they saw on social media, submit it via email, and wait for a response.
In my book, that’s a big mistake. Not discovering the seller’s motivation and goals before you write the offer is the number one reason why some agents won’t succeed in this business.
That’s not negotiating, that’s like throwing spaghetti at the wall to see what sticks.
Instead, I am going to discover everything I can about the seller and their home. Find out what really motivates them. And craft your offer so that it appears to be the best way to achieve their goals.<br />It’s not always the highest price or the cash offer that wins. Small things like the ability to be flexible with the closing date, keeping the offer simple, and having a trusted buyer’s agent are a few examples that have put many a buyer across the goal line against stiff competition.
Here’s what one client said about us:
"Whenever we saw something that we want to see, we would contact Steve, and he would find a way to meet us whenever we needed to show us the new options!
Finally, they made our closing as easy as possible and kept up with everything that needed to be done. At no time did I ever feel that there was any chance that something would be missed, as we had the best agents around...
If you are looking for a new home, do yourself a favor and talk to Steve--I'm a pretty tough grader, but he gets an "A+" from us!"
If you have questions, feel free to Call/Text me at 615.257.9996.
Next week, I’m going to dive deeper into negotiations and show you how to create a vision that drives the seller's decision.2021-04-13T09:16:00-07:002023-02-24T11:18:53-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2937How to Find the Right Nashville Neighborhood for YouThis is the first story in our Smart Buyer series. Last week we talked about Prices in Nashville and a housing update for Q1 2021. This week, Gretchen & I want to share how to find the best Nashville neighborhood for you.
Now let’s get to business…<br /><br />When you consider moving to a new city, one of the first things you do is look at what you can buy in your price range. If you want to do that just call/text me at 615.257.9996, I can help you do that at a high level right now. <br /><br />However, this is for those who really want to learn how to research a property and neighborhood…especially if you moving to a new city. <br /><br />The best advice that I can give you is to explore Nashville extensively and then trust your gut when it tells you this is the right area for you. And, also listen to your instincts when you know something is wrong but can’t quite put your finger on it. <br /><br />These decisions are not based on new information, but on your accumulated experience.
In the book, Blink by Malcolm Gladwell, he tells the story of the purchase of the kouros, an ancient Greek statue, by the Getty Museum. During the due diligence period, the Getty Museum consulted their own experts and attorneys who all validated the authenticity of the sixth century B.C. artwork. It was only after they paid the seller more than $9 million dollars that they showed the piece to art historians and experts in Greek sculpture.
Although they couldn’t immediately prove it was a modern forgery, it only took one look to confirm it was a fake in the eyes of the new experts. <br /><br />How did they know this? <br /><br />It’s not math or anything you learned in school.<br /><br />This gut feeling that you get is a survival mechanism. Humans developed decision-making skills that are quick for their own safety. These quick decisions are based mainly on your own understanding of the world. <br /><br />Malcolm would also argue that snap judgments formed by experience, need to be verified with knowledge, and that’s where I stand apart from our competition. <br /><br />We want to point you to the source of the information, so you can get it all, directly from the horse’s mouth. Not spoon-feed you only the stuff that others want you to see.<br /><br />For example, a colleague had a client that wanted to move to a neighborhood close to mine but wanted more information on the zoned schools. The buyer wasn’t quite convinced this was the best place for his kids. The agent reached out to his network for help, and I was able to connect them to someone who serves on the PTO of that school to directly answer their concerns. <br /><br />And the rest is history. <br /><br />I can also show you the hard-to-find public information sources on deeds, restrictions, flood plains, codes, covenants, rules, and zoning. Or…do a deep dive in the MLS for data on pricing, appreciation, and so much more.<br /><br />The only thing you have to do is call me at 615.257.9996, and I’ll take it from there.<br /><br />Here’s what one of our clients said about our help, "I have used Steve to sell a home and purchase one. Their market knowledge, creativity, & connections are extensive. You never feel pushed as their client and receive not only assistance in the transaction but practical advice throughout the whole process. I now consider them friends and would recommend them to anyone considering buying or selling in the Metro Nashville area.”
~Steve Jolly
P.S. Next week, I’ll share with you the best way to find the right home for you.
Have a great week! Peace & Love Y’all2021-03-31T07:24:00-07:002023-02-24T11:16:05-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3549What's Up with Nashville Prices?Let's talk about a Housing Update for 2021 and find out what is going on with prices in Nashville.
You are not going to believe your eyes when we get to pricing in a minute, so hang in there.
Last week, we finished up a series for home sellers, and you can find all seven episodes at the Moving To Nash YouTube Channel. You should check it out.
Let’s get to business with the Nashville Housing Market Update for 2021.
Sales for Greater Nashville are increasing as expected this time of year and are at about half of the peak sales months in mid-summer.
Expect this trend to continue.
The median price is $348,000 for Greater Nashville and it takes 84 days on average from the time you list a property for sale until it closes.
But…not for all of them.
New Listings overall are on a decline. When you break it down by county, Nashville’s Davidson County is the only area holding steady. Everywhere else, it is in decline with Williamson County leading the pack.
We got a small bump in new listings after the first of the year. Expect more to be released in the coming months as many folks wait until the spring and summer to make their move.
Inventory is still my biggest concern for the Nashville Housing Market. Too few homes for sale coupled with record demand is the driving force behind prices.
The number of showings are at peak-season levels already. The first week of March buyers scheduled more than 12,000 showings with the Showingtime service in Greater Nashville. That’s more than any one-week period last year and the season is just getting started.
One more key indicator before we get to prices and that’s homes that went under contract or sometimes called pending.
As expected, this is increasing. And at the same rate as new listings. It was a trend that I noted almost all of last year.
That tells us homes are going under contract as soon as they hit the market. And in many cases, before they are listed. It’s a ceiling that we won’t breakthrough until the homebuilders can keep up with the pace of demand.
Let’s talk prices.
The word on the street is that this market is crazy. That is partly true and here’s why.
In Davidson and Williamson Counties, over the last 30 days, 17 homes have sold for $100,000 or more over list price. And most of those in the last two weeks.
It’s a problem that is getting worse in certain neighborhoods where few homes are hitting the market.
Keep in mind that most sold homes were negotiated at least 30 days in the past, and we won’t see what’s happening right now for several weeks.
The top dog in the last 30 days was $300k over list price. Yes, I said $300,000. This home was located in 12S and sold for just over $2 million.
Other big hitters:
Green Hills: $150,000 over list<br />Forest Hills: $150,000 over list<br />Brentwood: $205,000 over list<br />Franklin: $154,000 over list price.
And…it’s going to get worse as we get into the busy season.
The problem with the average agent is they have trouble pricing homes when times are normal. Most are just lost in this kind of housing market when it comes to the right price.
They simply don’t have the skills or experience to crunch the data and provide you with good, actionable advice.
If you don’t get the best advice on pricing, this is what you can expect.
1. Paying more than you need to for a home.<br />2. Wasting your time by not offering enough to be successful as a buyer.<br />3. Listing your home below the true market value as a seller and not capturing every dollar you deserve.
Here’s the good news. Not every neighborhood is this crazy. Two-Thirds of the homes sold over the last 30 days closed at list price or less.
So…If you are thinking about making a move, it’s imperative that you have someone on your team who understands the market and knows how to help you win when it comes to pricing.
You can call or text me at 615.257.9996. Gretchen and I are here for you.
Here’s what one of our client’s Vicki, recently said about us.
"Have bought and sold 8 homes, in 5 states, and with Steve's direction and guidance, this was BY FAR the BEST experience ever!"
Next week, we are going to start a series for buyers in Nashville. Stay tuned
Have an amazing week. Peace & Love You all.
~ Steve Jolly
<a href="https://youtu.be/IqQDqSZvASc"><img src="https://ci4.googleusercontent.com/proxy/h4aImG9tQUVObm1XTN_dK7rKuWgfwuSugElVoV2PnQZ5BjMI2sMdd-5nqtA0ncOagXgZpL-8GrMHV8dqGWxpjotfOz0ejUHGqeQbJZrNRlU1DIGqGEYSfzajihqXLJwCSr4XRbjBCF6U=s0-d-e1-ft#https://assets.site-static.com/userfiles/702/image/WhatsUpwithPricesNashvilleHomes.png" alt="What's Up with the Price of Nashville Homes?" width="400" height="224" class="CToWUd" /></a>2021-03-23T07:56:00-07:002021-03-23T08:00:49-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2916Here's Why a Win-Win Negotiation Strategy is a LOSS for You<img src="https://assets.site-static.com/userfiles/702/image/winwinloss.jpg" width="400" height="514" alt="Win Win Loss" title="Win Win Loss" class="img_box_right" style="margin: 5px 10px;" />This is my 6th and final story in a series for sellers just like you.
Last week we talked about using magnetic marketing to attract a flood of buyers who want a home just like yours.
This week, I want to share with you how my negotiation strategies get better overall results and protect you from those who would do you harm.
Now let’s get to business…
If you pull into the car dealership with a smile as wide as the Grand Canyon knowing that you're going to buy your dream car, it’s not going to be a great day negotiating.
A good salesperson is trained to look for subconscious signals that show your intent. Non-verbal clues like your body language, the tone of your voice, and your inflection. Without saying a word, the look on your face could say everything.
If he sees you as a potential “laydown” customer, someone who surrenders easily, he is going to use every trick in the book to increase the fear factor.
He’ll probably tell you about the calls he’s received on the car this week. How many people have stopped by to look at it? And how someone else is planning to stop by later to buy the car. All this in an attempt to build your neediness to a point where you’ll break your own rules just to get what you want.
This is emotional manipulation and it is an effective weapon used in negotiations every day.
I’m here to protect you from that.
It’s my job to help you through this process and shield you from negative influences from the other side. I can see these schemes a mile away and know how to effectively squash them by focusing on the truth of the matter.
Safeguarding you is one of my priorities.
However, protecting your interests is only half the battle. It won’t get you to the closing table with the best possible deal.
Most people focus on what they want out of the deal. This has no influence on the other side. In fact, it may just tick them off.
Others focus on meeting in the middle. A “Win-Win” is a loss for you.
The best possible deal comes from discovering the true mission and purpose of the other side and presenting your home in a way that shows it is the best possible solution to their problem.
That requires more work, a little finesse, asking the right questions, and truly listening to your opponents in the negotiation.
And if a little more work on my end, puts a stack of cash in your wallet at the end of the day, then it’s all worth the effort.
You don’t have to take my word. The world’s most feared negotiator, Jim Camp, says this.
“A business puts consistent profits in the bank over a long period of time by putting the customer first, and there is a direct analogy with every negotiation. You make good agreements that stick only by entering heart and soul into the requirements, needs, hopes, fears, and dreams of the people across the table. That’s where the action is, that’s where their decisions will be made - by definition - and that’s where your mission and purpose should be rooted.
If you want to work with someone who is going to protect your downside and put in the work to get the best deal for you, then let’s talk. You can reach me at 615.257.9996.
I am here for you.
Next week, I am going to share with you an update on the housing market, and what I expect for the rest of 2021.
<a href="https://youtu.be/_Gbbxqjyn-g">https://youtu.be/_Gbbxqjyn-g<br /><br /></a><a href="https://youtu.be/_Gbbxqjyn-g" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://mandrillapp.com/track/click/30484894/youtu.be?p%3DeyJzIjoiLUhENVJQaUdRRmIxMEZyU3duTjBiZG10V2E0IiwidiI6MSwicCI6IntcInVcIjozMDQ4NDg5NCxcInZcIjoxLFwidXJsXCI6XCJodHRwczpcXFwvXFxcL3lvdXR1LmJlXFxcL19HYmJ4cWp5bi1nXCIsXCJpZFwiOlwiMjE2MzYzZDRmNjE5NDA0MmI4YWY1ZmMyZGZkZWEwOGZcIixcInVybF9pZHNcIjpbXCIwOWJhMGYxZGNhMzk4ZGU1ZGM2OTM3NDNkZjJiYTZkMTYzOGQxODk1XCJdfSJ9&source=gmail&ust=1614820412494000&usg=AFQjCNHJfp_eHvQrr1kznQIMXK4n7hvIrw"><img src="https://ci4.googleusercontent.com/proxy/XzkuXh1y9dqsUseHxVPPRjS--jcZLpUAmLw2CQFQ51AzUFm-9wQltAma9wzMbA6449VynNIr-xFH6h8JLLPmJELybWI4C5__agKCt91z16QzfSitzF--YYBgBQd2YyYNl4AY7jEOHa_xWnkgPlcWvblIqDO31YATq0Tuig=s0-d-e1-ft#https://assets.site-static.com/userfiles/702/image/Copy_of_Heres_why_a_Win-Win_Negotiation_Strategy_1.png" alt="Here's why a Win-Win Negotiation Strategy is a LOSS for You" width="400" height="225" class="CToWUd" /></a>2021-03-03T07:10:00-07:002021-03-03T07:50:25-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2906This is Magnetic Real Estate Marketing<img src="https://assets.site-static.com/userfiles/702/image/MagneticMarketing.jpg" width="400" height="400" alt="Magnetic Real Estate Marketing" title="Magnetic Real Estate Marketing" class="img_box_right" style="margin: 5px 10px;" />This is my 5th story in a series for sellers just like you.
Last week we talked about This Small Step that Has a Massive Impact on Price.
This week, I want to share with you how to attract a flood of home buyers with magnetic marketing.
Now let’s get to business…
Small business marketing genius, Dan Kennedy tells his instantly valuable story while he was whale watching from a beach in Hawaii.
A fisherman drove up in his pickup truck and got out with twelve fishing rods. He baited each hook and cast them all into the sea. Dan became curious and asked him why twelve.
The old man said he loved fishing, but loved eating more. If he cast all twelve, by sunset some of them will have caught a fish. Never all. But usually enough to eat and a few to sell to local restaurants.
If he only cast one or two lines, some nights he would go hungry.
The fisherman understood a business flaw that suppresses prices and slows down sales. Too few lines cast in the ocean. It’s a common problem with hungry fishermen and real estate agents.
The average home is marketed by putting a sign in the yard and a listing in the MLS. While these are the fundamentals, it’s not close-to-being enough to sell quickly at the best possible price.
Good agents are going to provide additional services like professional photos, 3D tours, advertising, staging services, and social media.
Good marketing is just good. It doesn’t separate you from your competition because so many others are already doing the same thing. More importantly, it doesn’t specifically target the buyers that are looking for a home just like yours.
This is what sets us apart.
Using the massive power of Google and Facebook's Advertising platforms we can cast thousands of lines into the sea.
In addition, I use my extensive market knowledge to identify exactly who wants to buy a home like yours, reach out to them directly and get them to respond in a specific way. Like setting an appointment or requesting more details.
This is Magnetic Real Estate Marketing.
One recent client had 128% more showings than similar listings in his community and price range. This home sold for more than the list price with four offers.
Another client sold his home for $25,000 more than his neighbor’s similar home sold at the same time.
Now, You won’t see our smiling faces in your listing's ad. Instead, we’ll feature your home in the best possible light. In the last year, this resulted in an additional 24,564 people taking action on our client’s listings.
If we stopped here, you’d be getting the highest level of digital marketing service available for your home in Nashville.
And I haven’t even talked about my massive email list of 5,058 hungry buyers and the thousands of people who visit my website, <a href="http://nashvillerealestatenow.com/">NashvilleRealEstateNow.com</a>, every month.
If you don’t want to take any chances with the marketing of your home, then give me a call at 615.257.9996. I’ll even open up the hood and show you the results of my latest online marketing campaigns.
Next week, I want to talk with you about the negotiation strategies of the world’s most feared negotiator. And how will use those to get the best deal for your home.
2021-02-23T08:19:00-07:002021-02-23T08:25:53-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2897This Small Step has a Massive Impact on Price<img src="https://assets.site-static.com/userfiles/702/image/This_Small_Step_With_a_Massive_Impact_on_Price.png" width="400" height="225" alt="This Small Step has a Massive Impact on Price" style="margin: 5px 10px;" class="img_box_right" />
*This is my 4th story in a series for sellers just like you.
Last week we talked about a bulletproof way to price your home.
This week, I want to share with you This Small Step that Has a Massive Impact on Price
Now let’s get to business…
Staging is one of the best things you can do in order to sell your home quickly at the best price. According to recent studies by Realtor magazine, staging a home can increase the sales price by up to 5% and decrease the time on the market by as much as 70%.
Here’s the bad news.
Home staging is expensive. The average cost for an initial consultation is $500 and then an additional $500 - $1,000 per month. I’ve seen people spend as much as $2,500 per month just to rent furniture. For most homeowners, that’s unattainable.
For you…there is another option.
We call it our Strategic Staging service. It’s “strategic” because we focus on the areas that give you the biggest bang for your buck without breaking the bank. In fact, we offer this service to our clients at no cost.
That’s right…If you sell your home with us, we will provide our Strategic Staging service for you with zero dollars out of your pocket because it’s the right thing to do. Even if your home is vacant.
Here’s how it works.
First, we will walk through your home with you and relocate your current furnishings in the best location possible for showings. Our goal is to improve the flow through the home, make the rooms seem as large as possible, and reduce any unnecessary clutter.
All of these things distract buyers from being able to visualize living in your home. Without that vision, most buyers will not be able to make an emotional connection to your home and will move on to the next one. That’s the last thing we want to happen.
If your home is vacant, we can help you too.
Second, we will bring in furniture and decor from our collection to pull it all together. For example, we may add lights to help brighten a dark room or temporarily repurpose a room into something more meaningful to potential buyers.
This will help your home not only look more inviting, but spacious as well.
Third, we will provide you with a list of simple repairs that will give new life to your home and help it feel fresh. Some of these repairs, you may be able to do yourself. If not, we can put you in touch with reputable contractors who do great work and competitive prices.
Last, some folks take down their staging in the middle of a sale. We think this can be a mistake. Not only do you have to sell this home to the buyer, but you also have to sell it to the inspector, appraiser, and lender.
Leaving your home staged through the appraisal helps make for a smoother transaction and gets you to the closing table as quickly as possible. We prefer not to do anything that jeopardizes the sale or closing of your home, so we leave it in place for you.
If you want to see how our Strategic Staging Service can help you, just give me a call at 615.257.9996.
Next week, I’ll share how to attract a flood of home buyers with magnetic marketing.
2021-02-16T16:07:00-07:002021-02-16T16:10:19-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2879The bulletproof way of pricing your home<img src="https://assets.site-static.com/userfiles/702/image/bulletproof.jpg" width="400" height="400" alt="The bulletproof way of pricing your home" title="The bulletproof way of pricing your home" class="img_box_right" style="margin: 5px 10px;" />*This is my 3rd story in a series for sellers just like you.
Last week we talked about the mistakes you want to avoid getting your home ready to sell.
This week, I want to share with you a bulletproof way to price your home.
Now let’s get to business…
Early in the throes of the Great Recession, I took over a foreclosure listing in rural Sumner County for one of my bank clients. Another agent had it first and provided them an unrealistic expectation of the sales price for this home.
And guess what…the home sat forever with no showings or offers.
Using real data, I convinced my asset manager of the true market value for the home. The investors who owned the foreclosed property were not satisfied, but they agreed to lower the price.
Within one week, we received an offer on the home at list price.
This was unbelievable because buyers were hard to find and almost no one was paying full price. The investors, still in a state of shock, decided to reject the offer and hold an online auction instead thinking they could get more money for the home.
The buyer screamed and stomped. My asset manager grew more frustrated with his client and I was doing everything in my power to find a solution to the problem.
It took a few weeks to prepare for the auction and I encouraged the original buyer to submit a bid online. The auction lasted several days and had more than one bidder.
Here’s what happened.
The winning bidder was the original buyer and the winning bid was 10% lower than what they had offered just a few weeks before.
After this home closed with no other problems, my asset manager reached out and said he would never doubt me again. I was promoted to a “preferred” broker with this bank and still enjoy working with them today.
Over time, I became a preferred broker for many other banks based on my ability to determine the best price.
My contracting experience helped me get my foot in the door because they knew that I could help them understand the cost to bring a distressed home back to average condition.
This was incredibly important because most foreclosed properties need repairs and the condition of the home significantly affects the value.
Another part of that skill came from real estate experience. By that time, I had completed hundreds of price opinions and knew how to analyze homes and crunch the numbers to get the right price.
The last part of that expertise came from appraisers. Early on, I learned their tactics and approach to valuing property so I could give world-class service to my clients.
When I combined the appraiser's technique with the market knowledge of an experienced agent and my contracting background, I knew that was a powerful weapon my clients could use to their advantage.
Here’s why pricing is so critical.
If you overprice the home, it typically results in little to no activity. It can sit there for weeks wasting your time while you are paying thousands in interest that you’ll never see again.
Even if you get an accepted offer, I’ve often seen buyers have instant remorse when they think they have overpaid. So much anguish that they cancel the contract or make unreasonable demands during the inspection period to make up the difference. That’s just more frustration and wasted time for you.
And, if you make it past inspection, you can still have the appraiser throw a wrench in your gears because they did not have the data to back up your inflated price.
You also don’t want to underprice your home. That’s just leaving money on the table unnecessarily.
Instead, I’d rather use that pricing superpower to recommend a small range of prices for you to consider.
The lower end of the range will speed up the sales process and lower your carrying costs. The higher end of the range might take a little longer to sell but will add more to your immediate bottom line while giving you assurances that you’ll make it to the closing table with the minimum amount of frustration.
And the best part of all… the choice is yours.
If you are curious as to the value of your home, a good first step would be to go to my site, <a href="http://nashvilleprices.com/">NashvillePrices.com</a>, for up to two automated values. This will give you a general idea of the value of your home.<br /><br />Then if you want “bulls-eye” pricing, I’ll be glad to give you a custom value based on the unique qualities of your beautiful home.
Next week on the Moving to Nash show, <a href="https://www.nashvillerealestatenow.com/blog/small-step-with-a-big-impact-on-price/">I want to share with you how we help you get your home ready to sell quickly using our Strategic Staging service</a>.
If you have any questions in the meantime, give me a text or call at 615.257.9996.
2021-02-09T07:25:00-07:002021-02-09T07:55:30-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2869Avoid This Common Mistake When Getting Your House Ready To Sell<img src="https://assets.site-static.com/userfiles/702/image/AvoidThisMistake.jpg" width="400" height="400" alt="Avoid this common mistake when getting your house ready to sell" title="Avoid this common mistake when getting your house ready to sell" class="img_box_right" style="margin: 5px 10px;" />Some folks renovate their home while getting ready to sell with the hopes of making more money. This may be a good strategy if done the right way, but it’s not your only option.
The most common mistake we see with this is the Do-It-Yourself (DIY) renovation. While kitchens and bathrooms typically get you the best return on your investment, if done improperly they can work against you and the sales price you want to receive.
It’s not uncommon to see a DIY renovation that devalues the sales price because they installed builder-grade materials, allowed sloppy work or the style did not match current buyer expectations.
This is such a huge turnoff to buyers that many times they scratch houses like this off their list as they wonder what else could be wrong with the home.
Throwing money away is the last thing that I want you to do.
If you decided to work with us, one of the first things we do is develop a <a href="https://www.nashvillerealestatenow.com/blog/if-you-plan-to-sell/">road map for your home sale</a>.
I talked about this roadmap in last week's article.
While we are putting this plan together for you, we will also ask about the resources you have available and what you hope to achieve.
From that information, we will give you several options to help you sell your home when you want, give possession when it’s convenient to you, and get the best possible price.
Here are three (of the many) ways we can help.
1. One of those options might be to use our complimentary Strategic Staging service. Strategic Staging helps you with your home organization needs, placing your current furnishings in the best location for showings, and adding select pieces from our collection to pull it all together without costing you thousands of dollars.
In fact, it won’t cost you anything.
For a vacant house, our Strategic Staging service covers the essential areas to help buyers visualize living in the space and create a connection that feels like home.
2. A second option would be following our Simple Repairs list. During the review of your home, we will compile a list of inexpensive improvements that adds curb appeal, makes your home shine brighter, and attracts more interest.
An example might be to add mulch to the flower garden or paint the front door. We will even help you pick out the mulch, or suggest paint colors and provide a list of vendors who do the work for you.
3. The third option, and one that we rarely recommend, is to renovate your home. If you decide that is what you want to do, we will help by showing you what styles and materials are popular in your area and line you up with reputable contractors who do excellent work at fair prices.
We rarely recommend renovation because it is not necessary to sell your home in Nashville. The demand for homes outweighs the supply by a large margin. It’s also an expensive risk that should only be taken in certain circumstances.
With almost 700 home sales in the books, we have the knowledge and experience to make this profitable and easy for you.
If you need help like this getting your home ready to sell, then give us a quick call at 615.519.0983 and we will take care of the rest. <br /><br />Next week, I show you how we help you get “bulls-eye” pricing for your home that maximizes your profit and minimizes time on the market.2021-02-02T09:59:00-07:002021-02-02T10:27:46-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2857If you plan to move, you need this road map<img src="https://assets.site-static.com/userfiles/702/image/Plan_to_sell.jpg" width="400" height="400" alt="If you plan to sell, you need this road map" title="If you plan to sell, you need this road map" class="img_box_right" style="margin: 5px 10px;" />This is a first in a series of stories for home sellers just like you.
Bill Gates, the founder of Microsoft, once said, “Most people overestimate what they can do in one year and underestimate what they can do in ten years.” When it comes to planning your next move, it’s 110% truthful.
That’s because selling your home is a complex process involving a series of steps, in a specific order, at exactly the right time, and performed by literally hundreds of people scattered across the country.
Without a plan, it’s like herding cats with a water hose.
That’s where our Smart Seller System can help you succeed.
#1 - We learn about you.
Before we can plan, we need to learn exactly what you want to achieve, and when you want to make it happen. Starting with the end in mind, we will put together a list of everything that needs to happen, when it should start and when we expect each step will be completed.
If every agent did this for their clients, it would solve 80% of the problems people encounter and 99% of the surprises. However, this is not where we jump ship. We are only getting started working for you.
#2 - We manage the plan for you.
Once the plan is launched, it needs professional oversight. First, to make sure all of the pieces of the puzzle are coming together at the right time. Second, to develop contingency plans when the ball gets dropped. Last, to keep you informed. This helps you make the best decision for yourself and your family.
Transaction management is one of the most difficult [and important] parts of a real estate sale. And one that many agents mistakenly hand off to an assistant. That’s where we draw the line.
Gretchen and I personally grab the bull by the horns and show it the way to the closing table. Kindly at first.
Kicking and screaming, if necessary.
Then at each and every milestone, we will reassess where you are now, determine the best way to get to where you want to be, and share that wisdom with you.
With nearly 700 sales between Gretchen and me, we’ve encountered every pitfall, learned to spot them a mile away, and discovered the best way to solve them.
#3 - We provide the additional resources you need.
In addition to our knowledge and experience, we also developed a network of professionals who can step in at a moment’s notice to help you get back on track if needed. Having excellent relationships with honest attorneys, contractors, and loan professionals have saved our clients much time, money, and frustration over the years.
If you find yourself near the beginning of this process and you have questions that need to be answered, then give me a call at 615.519.0983. Gretchen and I are here to help you!
P.S. Next week, I want to share <a href="https://www.nashvillerealestatenow.com/blog/avoid-this-common-mistake-when-getting-your-house-ready-to-sell/">how we show your home to potential buyers in the best light possible</a>. In other words, how to get your home ready to sell.
Peace & Love!
2021-01-26T09:02:00-07:002021-01-26T10:11:33-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3362A look back at 2020On Thursday, I plan on taking a look ahead and sharing what the experts think is going to happen to the Nashville market in 2021. Before we do that, let’s look in the rearview at 2020 and see what we can learn from the most turbulent year in some time.
It started on March 3rd with the 6th costliest tornado in US History. The final toll is in the neighborhood of $1.5 billion worth of destruction. Downtown and East Nashville neighborhoods were some of the hardest-hit areas.
A few weeks later, we are in the midst of a shutdown due to the pandemic. Nashville quickly learned to deal with the virus as best as we could and started opening up where it was safe in April. The city has access to some of the best healthcare in the world, and those folks deserve a ton of credit for keeping us healthy.
The year ended with a bombing in the heart of downtown on Christmas morning. Damage estimates have not yet been completed. However, we know that 45 buildings were damaged, 7 of them cannot currently have occupants and three others face immediate demolition.
Most places would be devastated. Waiting on bailouts and help from the outside. Not this town. Nashville is beyond resilient. Falling hard, getting up, and then keep moving forward, day after day.
This is one of the reasons why I love living in Nashville. It’s a big city with a small town work ethic and love for your neighbor.
The Nashville Real Estate Market ended the year, very similar to how it started. Lots of demand with little supply.
Here’s what Sales looked like throughout the year.
<img src="https://assets.site-static.com/userfiles/702/image/Screen_Shot_2021-01-05_at_1.09.38_PM.png" width="604" height="400" alt="Nashville Sales 2020" class="img_box_left" style="margin: 5px 10px;" />
In spite of the supply issues, sales still increased in 2020, 6.2% over 2019. New home sales were a big help with 19.2% of the overall market share.
Resales were down partially because people are staying in their homes longer. The average person now moves only once every ten years. Just a few years ago, it was closer to once every seven years.
Here’s what new listings looked like in 2020:
<img src="https://assets.site-static.com/userfiles/702/image/Screen_Shot_2021-01-05_at_1.09.53_PM.png" width="603" height="400" alt="Nashville New Listings 2020" class="img_box_right" style="margin: 5px 10px;" />
The pattern is typical because most people attempt to sell their homes in the spring and summer months. However, it’s still not enough to meet the demand from buyers.
Buyer demand is peaking for several reasons. First, interest rates are still near record low levels. That is a huge motivator. Also, the largest living generation in America right now are the Millennials with more than 72 million in total. The bulk of that generation is at the age when most people buy homes.
Based on these factors, we are likely going to have to build our way out of this problem. That’s going to take time and will likely be a bonus for the market and homeowners for some time.
Here’s what the showing demand looked like for 2020:
<img src="https://assets.site-static.com/userfiles/702/image/Screen_Shot_2021-01-05_at_1.10.08_PM.png" width="608" height="400" alt="Nashville Showings 2020" class="img_box_right" style="margin: 5px 10px;" />
It’s amazing that it increased with all of the troubles we’ve had this year. I know what you are thinking. Can we really keep this up?
One of the best ways to keep an eye on future business is to watch the number of homes that go under contract. These homes will close 30-60 days in the future for resales and up to a year for new construction.
Here’s a glimpse of those pending sales throughout 2020:
<img src="https://assets.site-static.com/userfiles/702/image/Screen_Shot_2021-01-05_at_2.40.45_PM.png" width="608" height="400" alt="Nashville Under Contract 2020" class="img_box_right" style="margin: 5px 10px;" />
Homes going under contract continued to increase throughout the year. And I expect more of the same in 2021.
All considered, 2020 was an amazing year for the economy and the Nashville Real Estate Market.
What about next year?
If you want to check out what the experts expect for Nashville in 2021, then tune into my Facebook Live show on Thursday, Jan 7th.. If you can’t make it, you can always watch the replay at <a href="http://MusicCityShow.com">MusicCityShow.com</a>. You should find it there on Thursday afternoon.
If you have any questions, you can always reach me at 615.257.9996.
See you Thursday!2021-01-07T11:54:00-07:002021-03-03T12:50:15-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2394All Sales are Final<img src="https://assets.site-static.com/userfiles/702/image/All%20Sales%20Final.jpg" width="400" height="400" alt="All Sales Final in Real Estate" class="img_box_right" style="margin: 10px;" />Cal realized the mistake he made just when the gavel came crashing down and the auctioneer proclaimed that “All Sales are Final.”
He went to the auction intending to buy a small apartment to renovate. Instead, Cal purchased an old, derelict mansion. Bad roof, crumbling walls, foundation sinking, mold-infested, no electricity for two decades. And the list goes on and on.
He made a simple mistake at this auction by bidding on the wrong property. That cost him about $45,000, and now he is borrowing more money to correct the error.
While they try to put a positive spin on this story...it’s truly sad.
Cal and his fiancé could be living in their newly renovated apartment, instead of a camper out behind the old manse. They could be enjoying their life as twenty-somethings instead of giving every spare minute to this renovation.
About twelve years ago, I saw firsthand the results of other “new” investors who made the same mistake as Cal. Seeing others making “easy” money in real estate, they set out to flip homes with very little professional help, experience, or advice.
And they paid the price.
I decided to share this story because it is starting to repeat itself here in Nashville. People from all over the nation are wanting to invest here. They’ve seen the growth, headlines, and buzz about our great city. It all seems so simple, especially on TV.
Find a house at a great price. Hire a contractor to fix it. Then buy a wheel barrel to haul all your profits to the bank. I wish it were that easy.
If you are thinking about investing in Music City, then give me a call. I’d be glad to listen to your plans and share my experience.
And if you still want to go to an auction, I’ll gladly go with you.
2020-12-01T09:04:00-07:002020-12-01T09:07:32-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3252This is what everyone needs for the holidays<img src="https://assets.site-static.com/userfiles/702/image/PriceIsWrong.jpg" width="400" height="316" alt="I won on The Price is Wrong" class="img_box_right" style="margin: 5px 10px;" />Two years ago, Kim and James were looking forward to the holidays when they received this surprising letter in the mail. The property they rented had been sold. Although they were good tenants and paid on time, the new owner sent them a letter of eviction.
They were told to move out within 60 days. A change in ownership doesn’t negate the lease in Tennessee. However, if you let your lease go to a month-to-month, you always run this risk with your landlord.
James had been diagnosed with terminal cancer and Kim was on disability. Even if they had the money and help to move, waitlists for properties that they could afford were 3-6 months long. They had nowhere to turn but the streets.
That’s where Open Table Nashville stepped in. They were able to negotiate an extension with the landlord to give them some time and then helped them transition to other housing.
Open Table does what other organizations can not. They help everyday Nashvillians, like Veterans, Nurses, and College Graduates, and those who fall through the cracks move into permanent housing every week in Nashville.
And they do it all by relying on the support of your neighbors in Nashville. Good folks just like you who want to make a difference in Music City.
Meeting people where they are is a cornerstone of their ministry. One of the most important things that they do when temperatures drop is to see what people need to survive while they are camping or living on the streets.
This winter will be more important than ever because the pandemic is severely limiting the numbers of folks accepted at shelters and Room in the Inn. <br /><br />I am so happy that Open Table Nashville was chosen as a winner on The Price is Wrong, and I feel blessed to be fortunate enough to help.
If you also want to help this year, here are four ways you can do it.
The easiest way to get involved is to give. You can do that here: <a href="https://opentablenashville.org/donate">https://opentablenashville.org/donate</a>
They also accept items like those found on their Amazon Wish List here: <a href="https://www.amazon.com/gp/registry/wishlist/3JTNX35QYFXMU">https://www.amazon.com/gp/registry/wishlist/3JTNX35QYFXMU</a>
Contact <a href="mailto:donate@opentablenashville.org">donate@opentablenashville.org</a> for In-Kind donations of new or gently used items.
Volunteer when they have a call to action. Here’s where you can follow them online and find out more ways to help: Facebook: @OpenTableNashville, Twitter: OpenTableNashville, Instagram: @OpenTableNash
If you decide to get involved, I thank you from the bottom of my heart. Hit reply and let me know that you did.
Take care and Happy Thanksgiving!
Peace & Love Y’all2020-11-24T07:40:00-07:002020-11-24T07:50:51-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3230One more lender mistake you want to avoid at all costs<img src="https://assets.site-static.com/userfiles/702/image/One_more_lender_mistake_you_want_to_avoid_at_all_costs.png" width="400" height="335" alt="One more lender mistake you want to avoid at all costs" class="img_box_right" style="margin: 5px 10px;" />In my last article, I talked about the errors that lenders make that cost you big time. Today, I want to share another story about lenders that will hit you straight in the wallet and how you can prevent it.
This is how I heard it.
“I was a naive first-time homebuyer when I started this journey. I went on to Zillow and used their portal for finding a lender in my area. They quickly connected me with a mortgage company who promptly called me and got the process going. The representative was very nice and we began the underwriting process.
Everything seemed okay at first, but I began to notice some strange things going on, such as him focusing heavily on the bank fees as part of the closing costs. He quoted me upwards of $5,000-$6,000 on a $275,000 purchase just in bank fees for the loan. Keep in mind I am a prime borrower with a 780 credit score and solid income with no other debt. Anyway, I got my pre-approval letter and this is where things became truly absurd.
On the letter itself, it had contingencies to make the pre-approval valid, one of which was securing 6% seller concessions towards closing costs. At this point, I had done more research and knew how absurd this was. Asking for 6% seller concessions would be ridiculous especially in our hot seller's market.
I called him and asked about it, and he said a common strategy is to offer more than the list price to get the seller to agree to pay the 6% concessions, but then that just leaves me with a higher mortgage while they get their ridiculous fees paid for. Absolutely insane.
That's when I reached out to another mortgage company. The experience has been night and day compared to the Zillow-referred lender. I ended up paying just under $2,750 in closing costs.”
Getting a mortgage is expensive, however, that doesn’t justify getting ripped off to the tune of thousands of dollars. Especially, if you have a good credit rating.
The best thing you can do is to shop for lenders. This takes time because the lender will need basic financial information from you in order to share costs. You may be reluctant to do that because you’ve heard that checking your credit hurts your score.
That is true to some extent, however, lenders have fixed many of these problems. For example, if you allow multiple mortgage companies to pull your credit in a short period of time, those inquiries are typically treated as a single inquiry. Lenders understand people want to shop without hurting themselves before they commit to working with a lender.
You also want to go beyond rate shopping. Mortgage rates affect the price you pay each month for your mortgage and have nothing to do with closing costs. Since closing costs easily run into the thousands of dollars, you’ll want to see a loan estimate that details the total cost you pay throughout the life of the loan.
If you need a referral to a great lender or have other questions, feel free to text/call 615.519.0983. Gretchen and I are here for you.
The Daily Deal in Nashville is this renovated cottage in East Nashville that is listed for less than $325,000.
<a href="https://www.nashvillerealestatenow.com/property-search/detail/38/2205902/2025-jones-cir-nashville-tn-37207/">https://www.nashvillerealestatenow.com/property-search/detail/38/2205902/2025-jones-cir-nashville-tn-37207/</a>2020-11-11T10:05:00-07:002020-11-11T10:09:52-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3180If your lender does this, you have serious problems
<img src="https://assets.site-static.com/userfiles/702/image/If_your_lender_does_this_you_have_serious_problems.png" width="400" height="335" alt="If your lender does this, you have serious problems" class="img_box_right" style="margin: 5px 10px;" />
Here is the story as I heard it.
“I’m not sure if this is typical.
Every single document I’ve had to sign contains some issue: spelling errors, incorrect addresses, the wrong name (they keep calling me “Cheryl” on phone calls and in emails), and even the wrong amounts! Who the flip is Cheryl???
I have to read each form with a fine tooth comb TWICE anticipating revisions.
And then everything about my lender is an emergency.
They also submit documents for signature at odd hours of the day (5am on a Sunday, 11pm on a Tuesday, etc) and then they demand I sign them IMMEDIATELY with back-to-back phone calls.
We missed our first closing date because the lender sent over one document at 11:30 PM and demanded we sign it by 12 AM or risk delays.
Guess what? We were asleep and woke up to missed calls, texts, and a mountain of voicemails.
Why?”
The lending process is one of the top reasons why real estate sales crash and burn. And it’s also why it takes so long to close on a home after you get it under contract.
Because they play such a critical role in your transaction, you cannot afford to leave it to just anyone. You need a true professional who is going to do what they say and do it on time.
That’s why I love this story as a guide for you. It illustrates some of the most common mistakes lenders make. This way you can spot the problems early and pivot before you get too far in the process.
The first problem is all of the errors in the documents. To me, it indicates that this company has too much on their plate or they are not paying attention to the details.
If they are making these mistakes on the documents, what mistakes are they making processing and underwriting your loan?
These kinds of blunders lend themselves to emergencies. Because the loan process is a series of hundreds of steps that have to be completed in the right order and at the right time, all it takes is one small misstep to stop the loan in its tracks and cause huge delays for you.
Lastly, your lender should never send over a document and DEMAND that you sign it immediately. That is a huge red flag to me because they are not giving you a chance to review or think about the implications of what you are signing.
It’s not like the lender is surprised that you have to sign these documents. They use them every day in their business with every mortgage client. For them to drop a bomb on you like that is reprehensible.
Choosing the right lender is just as important to the success of your sale as working with the right agent.
Shop around, ask questions and if you need a referral to a lender who won’t let you down, then give me a call at 615.519.0983.
2020-10-20T10:06:00-07:002020-10-20T10:15:42-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3164Is this a sweetheart deal or unexpected nightmare?<img src="https://assets.site-static.com/userfiles/702/image/Isthisasweetheartdealunexpectednightmare.png" width="400" height="335" alt="Sweetheart Deal or Unexpected Nightmare?" class="img_box_right" style="margin: 5px 10px;" />You want the highest price that the market will pay, but most homeowners (and agents) don’t know the best way to get it.
Here’s why.
A homeowner decides to place his home on the market that is priced significantly higher than recent sales because there are few similar homes for sale. Within a few days, the seller receives a handful of offers. Excited about the move, they accept the highest & best offer and start packing. From the seller’s perspective, this is a sweetheart deal.
What sellers fail to realize is the buyer is going through a completely different set of emotions.
The buyer is immediately excited that they have a home under contract. Then apprehension sets in and they begin to wonder is this too good to be true. Since they have submitted several offers on other homes and lost, they begin to seriously question this purchase.
Did they just pay too much for the home?
Did the sellers really have multiple offers?
Is there something wrong with this home that they did not know?
With buyer's remorse, they trade in their rose-colored glasses for a microscope. Suddenly, every tiny defect becomes a major issue and the buyers cancel the contract during the inspection period.
The buyers did not feel comfortable about the price they agreed to pay and then walked away using the inspection as their excuse.
Now the seller is at a worse place than where they started.
First, they have a stigma on their home because the contract was canceled. Every new buyer is going to wonder what is wrong with the home.
Second, they have wasted the most important time that a home is on the market. New listings attract the most attention. Once your home has been on the market for a few weeks, the number of people organically viewing your home drops dramatically.
Last, with less competition from buyers, it’s harder to get the best price for your home.
All this trouble is caused by pricing the home too high and the emotions that followed.
To avoid this mess, we have a proven plan that helps people sell their home quickly while getting the best price and minimizing any buyer’s remorse.
And when you have a plan in place, it’s much easier to stick to it than be led astray by the excitement of the deal.
Our Smart Seller System will help you:
Get your home ready to sell with the least amount of effort or cost
Provide you an estimate of the most likely sales price and our recommended list price
Show you the best times to put your home on the market
Advise you how long you should market the home before reviewing offers
If you want to learn more about our proven plan to get the highest price for your home, then text or call me at 615-519-0983. 2020-10-13T07:10:00-07:002020-10-13T07:18:06-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3142Who has time for serious problems?
<img src="https://assets.site-static.com/userfiles/702/image/serious_problems_.png" width="400" height="335" alt="Who has time for serious problems?" class="img_box_right" style="margin: 5px 10px;" />Here’s a story I heard from a buyer in another state.
“We put an offer in on an under-construction house, asked if some changes would be allowed, we were told yes and we went ahead with our offer. We met with the builder, discussed changes, was told everything but the floor plan was changeable.
This was a lie, and then we found out he was putting in white cabinets which is the one color we were absolutely against. Had to swallow it and deal because it was "already picked and non-negotiable" (would have seriously reconsidered the offer had we known. We were hoping for black).
Was supposed to meet him a couple of other times to pick out options and colors, he flaked EVERY SINGLE TIME, and it would be days after he said, and we'd usually just find some samples left in the house to look through without him and email him what we wanted.
Move-in was supposed to be May 25th, but then COVID happened and everything fell apart and move in was rescheduled for June 25th.
...then July 6th, then July 9th, then July 13th and now, as of 2 days ago, we don't know when because the granite countertops are somewhere that isn't our house, so now no move-in date.”
One of the biggest mistakes that people make when buying a new construction home is buying it directly from the builder.
The incentives and hard sell tactics make it difficult for you to walk away, however, they will likely give those same benefits to anyone who buys a house from them. Even if they give you a “special deal”, what you don’t realize is that the builder is saving thousands more than he is giving back to you.
Most people do not understand that the listing agent in this case represents the builder only and is looking out for the best interests of the builder. The builder’s agent likely has several builds with multiple customers going on at the same time. His priorities are selling the next new build and closing the next home finished. Sure, they will finally get around to making your build a priority, but only after you rise to the top of the list. And that can take a long time because most builder contracts allow them up to TWO years to finish your home.
Who has time for that?
The average resale home has more than 70 people involved in completing the sale. When you add construction to the mix, you are now up into the hundreds of people involved in the building and sale of your home.
When you have that many people involved in the complex process of new construction, it’s bound to get off track and go sideways many times.
It’s even more true now. With ongoing supply chain disruptions, labor shortages, and regulatory delays, someone on your side needs to fight for what you were promised. It’s not always about someone’s knowledge of a subject. Wisdom also comes from knowing the right questions to ask, at the right time.
Buying a new construction home without an agent representing you is like doing complex business taxes without a CPA. Sure you might save a little money now, but what headaches will you face tomorrow.
If you have questions about buying a home, feel free to text/call me at 615.519.0983.
If you are enjoying (or not) this series on Learning from Other’s Mistakes, leave a comment and let me know. I’d love to hear from you.
2020-10-06T07:18:00-07:002020-10-06T07:21:22-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3127Is this a special opportunity or a horrible mistake<img src="https://assets.site-static.com/userfiles/702/image/Isthisaspecialopportunity.png" width="400" height="335" alt="Is this a special opportunity or a horrible mistake?" class="img_box_right" style="margin: 5px 10px;" />This is a cautionary tale about the sale of two homes and the potential loss of thousands of dollars.
Here is the story.
I listed a home for sale in the Nashville area earlier this year. Just by chance, the home next door had sold to one of the national iBuyer companies just a few weeks earlier. An iBuyer is a company that uses technology to make an instant offer on your home.
If you accept their instant offer and sell your home to an iBuyer, they will sell it again in the near future to someone else for a profit.
While they offer an alternative to the traditional home selling experience, that convenience comes at a cost that can easily run into the five-figures.
My goal today is to not convince you that the traditional sale is best. Instead, I want to show you a direct comparison of two similar sales, so you can decide which is best for you.
Unlike other comparisons in the past, this one is unique because the two homes in this study were very similar in style, size, condition, location, timing, and starting price.
The biggest difference between the two was the method of sale. One of the homeowners took the iBuyer route, and the other chose a traditional sale. And the rest is history.
Here’s what they did.
First, let’s take a look at the iBuyer sale. It was purchased by the iBuyer company in July 2020 for $254,000. This sales price does not likely include any repair allowances or convenience fees charged by the iBuyer and paid by the homeowner.
Nine days later the home was listed for sale by the iBuyer company for $275,900. Within 5 days, this iBuyer sale was under contract, and it closed a month later for $252,000.
You may be asking, why did the iBuyer take a loss on this home? They might have lost a few thousand on the sales price, but they likely made it up [and much more] on the convenience fee and repair allowances.
Here’s what we did.
My client had the home next door. During the month of July, my client had some small repairs completed on the home. We recommend these repairs because we thought they would bring more buyers and a higher price.
Gretchen and I also spent time in July getting this home ready for sale with our Strategic Staging program. This is a unique plan that we created to attract more attention with furniture and decor from our collection that helps to sell your home. The best part, Strategic Staging is included with every sale at no additional cost to our clients.
By chance, our home was listed just one day prior to the iBuyer listing next door at $275,000. Within four days, my client's home was under contract. Forty days later this home closed at list price. And my client was very happy.
A recent study by the firm Collateral Analytics Research showed the typical cost to a seller appears to be in the range of 13% - 15% versus 5% - 7% for a traditional sale.
Based on this comparison, these are the questions that you should be asking yourself when getting ready to sell your home.
Is the added convenience of an iBuyer sale worth 6% - 10% of the sale price of your home?<br />
If you lived in this neighborhood, would you prefer your neighbors sold via an iBuyer or a traditional sale?
If you answered YES to the first question, that’s ok. We can help you get the best deal for your home from an iBuyer.
Otherwise, Gretchen and I are here to answer any questions that you have about the process. And share with you the source of data for both of these sales. Feel free to text or call anytime, 615-519-0983.
This is my first story on my series on Learning from Other’s Mistakes. Leave a comment and let me know if you enjoyed it or not. 2020-09-29T06:54:00-07:002020-09-29T06:58:04-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3116This Insider Information helps you uncover the best agents<img src="https://assets.site-static.com/userfiles/702/image/InsiderInfo.png" width="400" height="335" alt="This insider information helps you uncover the best agents" class="img_box_right" style="margin: 5px 10px;" />Whatever you believe about real estate agents, many people think that all real estate agents are about the same. In other words, good or bad, you’ll get the same level of service from one to another.
And if you were talking about the average agent that only sells a few homes a year, I would agree with you. Not much differentiation when the bar is set this low.
However, this myth doesn’t tell the real story.
I’d like you to step back and look at the big picture. Rising to the top of that mountain of average agents is a small group of Realtors that provide a world-class experience for every one of their clients. The weird thing is this. It’s not always those who sell the most that provide the highest level of service.
So how do you separate the good apples from the bad?
What I’ve found when working with agents across the country is the cream of the crop does a few things in common.
First and foremost, they should put your interests at the top of the list. Even ahead of their own interests. This is key.
If you see any indication to the contrary, I would consider working with someone else. It’s hard to fully trust someone to help you with the biggest transaction in your life when they could have ulterior motives.
Second, they should already have solutions to the biggest problems you face in real estate and the reason why they recommend that solution.
For example, if you are selling your home they should be able to explain their solution to:
A customized game-plan to sell your home
How to get your home ready to sell
The perfect pricing strategy your home
Any necessary repairs or renovations
The best way to market your home
A tailored negotiation strategy
Who you will work with during the transaction
And, if you are buying a home they should be able to demonstrate how they provide
A road-map to buying a home in Nashville
How to find the right neighborhood
The strategy to structure your offer
What you need to do to be successful
A plan to structure your offer
The six areas of expertise every buyer's agent needs
If you are thinking about making a move in Nashville, I would recommend that you ask them questions around these major problems they will need to help you solve along the way.
It will likely be that they have never received such insightful questions from a potential client. A great agent will appreciate that, so keep an eye on their response.
If you want to check their answers, you can always compare them to what I wrote in my buyer and seller guides.
For sellers, you can see the guides here: <a href="https://www.nashvillerealestatenow.com/sellers/">https://www.nashvillerealestatenow.com/sellers/</a>
And for home buyers, click here: <a href="https://www.nashvillerealestatenow.com/buyers/">https://www.nashvillerealestatenow.com/buyers/</a>
If you have any questions, you can always text or call me at 615.519.0983.2020-09-23T08:55:00-07:002020-09-23T08:58:00-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3100How School Ratings Affect Your Home Value<img src="https://assets.site-static.com/userfiles/702/image/How_School_ratings_affect_your_home_Value.png" width="400" height="335" alt="How School Ratings Affect Your Home Value" class="img_box_right" style="margin: 5px 10px;" />A common myth among home buyers is that schools are only important if you have children. A recent study by the National Association of Realtors showed that only 26% of homebuyers considered school performance when looking for their next home.
I was floored when I read that because I know what a difference good public schools made in my life and the life of my kids. I had several friends think we were crazy when we bought a home because there were so many rentals on our street at the time. However, it was what we could afford in the school zone we wanted our kids to attend.
I wouldn’t trade it for the world. Not only did my kids have the experience of a lifetime, but my home value skyrocketed.
Here are three reasons why you can do the same even if you’ll never need the schools.
First, it’s possible to find affordable homes in good school systems. For example, Merrol Hyde Magnet School in Hendersonville is rated the #1 high school in the state and #3 in the country by US News & World Report for 2020.
The average home price in Sumner County is $6,117 less than the average for Greater Nashville, and there are currently 137 homes for sale that are priced less than $300,000.
The great thing about magnet schools like Merrol Hyde is that they usually are district-wide. You don’t have to live in a certain neighborhood or part of town. This means that you can live anywhere in Sumner County and apply to attend this high school.
Even in the most expensive places to live in Middle Tennessee, you can find homes for sale at below the median price. Take Brentwood and Franklin as an example. Currently, there are 25 homes for sale and 139 homes sold in the last six months below $300,000.
Second, when it comes time to sell, home in good school districts get more attention from buyers. A study by Realtor.com showed that homes in the top-ranked school districts sell eight days faster and get 26% more views than the average home.
This isn’t a new trend. The same results can be found in dozens of studies across the last three decades.
Lastly, as school districts improve so do the prices of homes in the area.
Economists have estimated that a 5% increase in standardized test scores can raise prices by as much as 2.5%.
A study of the Durham School system in North Carolina showed that for a 10% increase in standardized test scores in elementary and middle schools, homebuyers paid an 11% price premium.
That price could be significantly less than the cost of a K-12 private school education which can easily cost more than $20,000 per year per child. And maybe recouped when you sell your home.
While school quality might not be at the top of your list, it should be something you consider when looking for your next home.
If you have questions about schools in Middle Tennessee, give me a call at 615.519.0983 and I’ll make sure that you get answers.2020-09-16T08:25:00-07:002020-09-16T08:28:39-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3085Sell it yourself and make LESS money<img src="https://assets.site-static.com/userfiles/702/image/Sellityourself.png" width="400" height="335" alt="Sell it yourself and make LESS money" style="margin: 5px 10px;" class="img_box_right" />Collateral Analytics Research recently performed the most comprehensive study in history on the value your real estate agent brings to the table. This study breaks the mold on the "Sell it yourself to make more" myth.
They wanted to improve on the past studies that couldn’t get a clear picture of what these homes were worth and were limited to one geographic area. The waters were muddied because there was no way to control for differences in property attributes, which can create huge fluctuations in the true value between homes.
For example, a home with a renovated kitchen and master bath will sell for a significantly higher price than the same home without the repairs. Also, many past studies were too small to be an accurate representation of the market.
Unlike the previous reviews, this study used Automated Valuation Models to compare the actual sales price to the market value of homes across the nation to get an apple to apples comparison.
This is what they found:
For Sale By Owner homes sold for less money than through traditional agents<br />
For Sale By Owner homes have a lower probability of selling<br />
Homeowners will net roughly the same proceeds whether they sell through a real estate agent or take the For Sale By Owner route
The study concluded agents perform better because of their expertise in staging a home, marketing, and incentivizing buyer’s agents for bringing a sale.
Here’s what the experts said about the study
“This makes a strong case for hiring an agent, considering that agents allow homeowners to reduce the work, risk, and time of selling a home, said Dr. Michael Sklarz, CEO of Collateral Analytics.”
“Overall it is clear that FSBOs have a low probability of selling, and if they do they will likely net the same or less after closing issues, plus they are more likely to screw up on disclosures which may lead to lawsuits after the fact, when buyers discover material facts not disclosed,” said Norman Miller, co-author of the study and real estate professor at the University of San Diego.
Two more things to consider.
Buyers look at FSBOs for the same reason sellers try to sell them. They see it as an opportunity to save money. They feel entitled to make low-ball offers or at a minimum reduce their offer by the amount of the commission that the seller is expected to save.<br />
Marketing and staging are expensive. Gretchen and I spend thousands of dollars on every home we sell to make sure it is properly presented and positioned to potential buyers. These costs are not part of the study and would cause the For Sale By Owners to net less money than the study reported.
Here’s my “biased” take on the study.
If at worst you take home the same amount of money whether you list with an agent or sell on your own, then why would you take on the extra work, costs, headaches, and liability.
If you have questions or want a copy of this study, just hit reply. I love to hear from you.2020-09-08T10:49:00-07:002020-09-08T10:54:42-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3066Should you renovate before you sell?
<img src="https://assets.site-static.com/userfiles/702/image/Should_You_Renovate_Before_You_Sell__1.png" width="400" height="335" alt="Should you renovate before you sell?" class="img_box_right" style="margin: 5px 10px;" />One of the biggest myths in real estate today involves renovation and its largely promoted by the home improvement reality shows like those found on HGTV and DIY networks.
While they don’t come out and directly say it, these shows leave you with the feeling that you need to renovate your home prior to selling it because they do it with every home. I’m here to say that is not true, especially in this market.
While it looks fun on TV, in real life it can be a huge pain in the tuchus…Here’s why.
The best contractors have a long waiting list in Nashville. When I say long, I mean six months to a year's worth of work already lined up and ready to go. This timeframe is not going to work for people who need or want to sell their home now.
This doesn’t take into account the time it takes to complete a project. Renovations are never as fast as you planned, and those completion dates could be extended indefinitely due to this.
This time it’s the supply of materials.
When the lockdown began, people started taking advantage of their time by completing DIY projects around the home. It might not seem like much, but 40% of all lumber purchases are used in repair and remodeling projects.
On top of the DIY boom, demand for homes has exploded due to the record low-interest rates and the need to move somewhere you feel safe.
To add fuel to the fire, the pandemic has also affected builder supply chains creating shortages in basic materials such as doors, sinks, and appliances. Pricing and availability changes on a daily basis make planning and estimates a nightmare for everyone.
I know what you might be thinking.
The shortage of labor and materials are good reasons to not renovate right now, but what about renovations during a balanced or buyer’s market?
HGTV is big on remodeling because those before and after shots make compelling shows. However, the ROI on the largest renovations doesn’t make sense to the average homeowner.
According to Remodeling magazine, the average return in Nashville is less than the cost of renovation. Their data shows you stand to recoup 50% - 85% of the cost, so it doesn’t make sense to renovate from a cost perspective.
Here’s what we suggest instead.
Instead of focusing on major renovations, let’s instead do the small repairs that have the biggest impact without breaking the bank. Things like replacing worn carpeting, painting, strategic staging all help to freshen up the look of your home without costing you a fortune.
In addition, many buyers prefer to pick out the colors and styles they like best. It’s not the problem it used to be for today’s buyers.
One recent client followed our advice and his home sold for $23,000 more than his neighbor’s similar home. Both homes were listed for sale at the same time.
If you want to see the small things we did differently that made a huge difference, just give me a call at 615.519.0983. I’d love to share it with you.
2020-09-01T07:37:00-07:002020-09-01T07:54:25-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3046Saving money? This could cost you more<img src="https://assets.site-static.com/userfiles/702/image/SavingMoney.jpg" width="400" height="335" alt="Saving Money?" class="img_box_right" style="margin: 5px 10px;" />There is a myth in real estate that to get the best deal, buyers need to work with the listing agent.
This misconception is promoted by the “Get Rich Quick in Real Estate” seminars and by those who love to work the system to get twice the pay for one sale. So take it with a grain of salt.
Nothing is further from the truth and here’s why.
The commission agreement is between the seller and the listing agent. No one else is a party to that contract. Not even the buyer.
Since the commission is coming out of the seller’s pocket, the seller will want to benefit if there are any savings.
Why would the seller hand over their money to the buyer?
Especially knowing that the transaction will be more difficult due to the additional work for the lack of agent on the buyer side.
Today, I want to share with you the other side of this racket.
The part you're not even considering because you are focused on the false premise that you are saving thousands of dollars.
Besides saving money, another reason people want to speak with the listing agent is that they know “everything” about the property. While that may be true in some cases, I also know listing agents who have never set foot in some of the properties they sell.
Here’s what I want you to consider.
The listing agent has a fiduciary responsibility to his client, the seller. And if they are a Realtor, the Code of Ethics requires them to put the seller's interests first, above all other parties.
That makes you third in line if you consider the listing agent's personal responsibility to themselves and their family. While the listing agent might answer every question you ask honestly, they are under no requirement to tell you anything that you forgot to ask.
While a buyers agent might not be an expert on this particular home, they should be an expert on real estate in your area.
Not only will they ask questions you did not consider. They will also ask followup questions to get past the sugar coating and get down to the real truth of the matter.
For example, if you are buying a new construction home, you may assume that the home will be completed in the next six months. Like most consumers, you take that for granted.
What you might not realize is that most builder contracts allow them to take up to two years to complete a home. <br /><br />Or decide not to build it at all.
And if you are counting on being in the new home for the holidays, you could be seriously disappointed if you find this out after the fact.
The best buyer agents will know what is important to you and dig deep to make sure that you see the truth, the whole truth, and nothing but the truth. 2020-08-25T07:01:00-07:002020-08-25T07:27:03-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3031How to use this housing myth to your advantage<img src="https://assets.site-static.com/userfiles/702/image/HousingMyth.jpg" width="400" height="332" alt="How to use this housing myth to your advantage" style="margin: 5px 10px;" class="img_box_right" />There’s an old adage that says you should never buy the first home you look at. Or, even a home that you see when you first start looking.
The origins of that advice go way back to the days before the MLS. When you had to physically visit each brokerage in town to see what homes they had listed. You would spend your day going from broker to broker, just to see what you could buy before you took a step inside a home for sale.
Even back when the MLS was in its infancy, the amount of information and photos on each home for sale was minimal. If you were lucky, they would have a picture of the front of the home, the price, and a few other details.
It would be just enough information to entice you in the door.
However, the benefits of this wisdom do not always hit the mark in Nashville 2020.
Here’s why.
The amount of information on homes available in your preferred area is staggering. I entered the address of one of my current listings in an online search engine and found 1,350 different websites with the MLS information on this specific listing.
In addition to each one of these listings, you may also find up to 50 photos, drone videos, 3D tours, plat maps, floor plans, property condition disclosures, pre-sale inspection reports, surveys, flood maps, topographical maps, property tax data, lists of upgrades and more.
Yet, the massive amount of information available today is not enough to toss this advice aside.
But, when you combine it with the number of homes available for sale and the speed at which they are moving, you might change your mind.
Based on our current market statistics if no new homes came on the market, Nashville would run out of homes to sell in 39 days. Our area needs +20% more homes for sale just to get back to a balanced market.
Here are the real-life implications.
This year, I’ve worked with four buyers this year who all found a home that checked off 99% of the boxes when we first started looking. A veritable “dream” home. Each one of them had specific requirements that reduced the number of available homes that met their needs to less than a handful. To respect your time, we work hard to narrow the list before you set foot in a home.
After months of trying to find the right home, two of them have expressed regret to me in their decision to pass on that first home.
The third and fourth buyers, who decided to move quickly when they had that first opportunity, are ecstatic. One is already loving their new home and the other will be soon.
Here’s the good news.
When you decide to work with us, you’ll get the same great info, data, and advice that we gave to all four of these buyers without any pressure to make a decision. As always, the choice is yours to make when it feels right to you.
Over the next several weeks, we will explore a series of Real Estate Myths and how they hold up in today’s market.
If you have a question or concern, you can call or text us directly at 615.519.0983.2020-08-18T11:09:00-07:002020-08-18T11:12:00-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:3017How do you protect yourself when buying a home?<img src="https://assets.site-static.com/userfiles/702/image/protectyourself.jpg" width="400" height="343" alt="How do you protect yourself when buying a home" class="img_box_right" style="margin: 5px 10px;" />When you read cautionary tales about purchasing a home, one of the common problems is the buyer received bad advice from their agent. It’s usually in an area when the average agent has no business providing counsel because that topic is outside their wheelhouse.
Most people assume that agents should be able to give you advice about all things real estate including the contract details, the condition of the home, or how to structure the sale to best match your financial situation.
You know what Grandpa said happens when you Ass-u-me.
All jokes aside, it’s not wrong for you to ask these kinds of questions. It’s only wrong when your agent decides to provide expert advice on one of them.
So why would an agent answer a question they know they should not?
Some good people just can’t say no and want to make you happy. I’m sure you know a few of them. Other folks have more pride than they do brains and don’t want to look stupid in front of their clients.
But the worst offender of all is the one desperate to make a sale. That person is more than willing to put their personal interests ahead of yours. This is one of the worst things an agent can do in my opinion.
So…How do you protect yourselves?
The first thing that will help you is to understand the areas where your agent should have expertise. Then when you have concerns in anything outside of these areas, insist that your agent help you find an expert.
Here are six areas of expertise you should expect from an agent when buying a home.
1. Knowing the area where you want to move like the back of their hand.<br />2. Utilizing all of the ways to find the right home for you. Not just the MLS.<br />3. Determining a fair purchase price backed up by data.<br />4. Negotiating the offer, the repair proposal, and the appraisal.<br />5. Navigating the paperwork.<br />6. Providing a network of experts for any problem you may uncover.
Here’s how this should work.
Let’s say that you have a question about the life expectancy of an HVAC unit. It’s ok for your agent to share with you his past experiences with other clients, but they should also offer to help you find a licensed professional to provide an answer to your specific concern.
And…
If you're looking for an expert to help you buy your next home, during the interview ask the agent questions about these six areas and it will make your decision 10X easier.
To ask me anything, just give me a text/call at 615.519.0983.
Here’s what one client said on Zillow about working with us.
“We have bought and sold 12 homes in 45 years of wedded bliss. Mr. Jolly helped us to purchase our lucky home #13. I can honestly say that he has been the best Realtor with whom we have worked.”
2020-08-11T09:41:00-07:002020-08-11T09:43:59-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2998Is this a red flag?<a href="https://www.zillow.com/profile/stevejolly/#reviews"></a>
<img src="https://assets.site-static.com/userfiles/702/image/redflag.jpg" width="400" height="333" alt="Is this a redflag?" class="img_box_right" style="margin: 5px 10px;" />Here’s a story I heard from a buyer making a purchase in another state.
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“My husband and I are buying a home and found several discrepancies between the MLS listing, the contracts signed by everyone, and the county assessors information. Is this something that happens all of the time?
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Or…Is this a red flag?”
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The answer to both questions is a resounding YES. First, it is not uncommon to find information that doesn’t line up when you compare two sources in real estate. In this case, the square footage in the MLS was different from what was listed in the tax records.
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There are several potential causes:
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The tax assessor did not look at interior features like vaulted ceilings that affect accuracy.
The seller could have finished out a bonus room or basement without pulling permits.
Inaccurate measurement by a non-professional.
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Each of these takes time and experience to investigate. And require a different set of tools to get to the bottom of the situation.
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For example, if the measurement is likely inaccurate, we can put you in touch with a professional during the inspection period to know the truth before you pay for an appraisal.
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Or…if the seller did not pull permits, you may want to go over this area with a fine-tooth comb.
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Then you can decide to move forward or walk away based on the facts.
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The important thing is that we are going to make sure you know the whole truth and have several options on how to resolve the problem to your satisfaction.
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Besides inaccuracies with the paperwork, another common problem is that most agents don’t take the time to explain documents or give you a chance to review them first.
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At a minimum, I’m going to share with you the purpose of every document that I ask you to sign. Then, if you prefer, we can walk through the whole enchilada paragraph by paragraph, line by line.
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And if you still have questions, I can put you in touch with an attorney who will answer your concerns at no additional cost to you.
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If you are afraid of getting ripped off, I understand.
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The best solution is to partner with an agent who puts your interests ahead of his own. Here’s what one of my clients said on Zillow about working with us in 2014.
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"I used Steve to purchase a house recently. Steve was the third agent I worked with as I wasn't satisfied with the first two. We looked at a number of houses before I made an offer that was accepted. I closed several weeks ago. Steve's service was outstanding from the start of my search through closing and after. He is a consummate professional who puts his client's interests ahead of his own. He's extremely knowledgeable about all facets of real estate and I will definitely use him again in the future.”
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And we are working with him again this year. If you have any questions, give me a call at 615.519.0983. I am here for you.
<a href="https://www.zillow.com/profile/stevejolly/#reviews"> </a>2020-08-04T07:10:00-07:002020-08-04T07:20:59-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2975That Dog Won't Hunt in Nashville<img src="https://assets.site-static.com/userfiles/702/image/ThatDogWontHunt.jpg" width="400" height="335" alt="That Dog Won't Hunt in Nashville" class="img_box_right" style="margin: 5px 10px;" />Over the last thirty days, the average Nashville home has sold for $1,634 more than list price in a busy housing market.
The difference between a winning offer and a losing one in Nashville right now is a slim as a Vanderbilt lead deep in the fourth quarter.
So…When a seller gets five offers all about the same price, how do they decide which one to pick?
That’s a great question.
When all offers seem equal in price, the other terms in the offer become much more important. That’s where the true negotiators outshine the order takers.
Too many agents skip engaging the other side and take your order instead. They ask you what you want to offer, fill in the blanks on a form, and submit it to the home seller.
You might be asking yourself, what’s wrong with that approach? Nothing…If you don’t mind wasting your time. Snark aside, this might be a successful approach in a slow market.
However…that dog won’t hunt in Nashville 2020.
That’s because your offer is built in the world of the buyer. It’s all about the buyers and what they want. Just like every other offer out there. That won’t cut it in today’s competitive market when the seller can pick and choose what works best for them.
Here’s what I do to make your offer stand apart from the competition.
I have a conversation with the listing agent prior to submitting an offer. The purpose of that call is to find out the seller’s goals, needs, and concerns. That information is like our secret sauce. Then, we use their feedback to craft an offer the home seller can’t resist because it’s designed for them and their unique situation.
Here’s an example of a recent win for one of my clients.
In my preliminary call to the listing agent, I discovered that the seller’s are building a new home. They also wanted to transition from their current home to their new home without having to move into temporary housing.
Transitional housing a huge pain in the butt and rather expensive because you have to pay move your furniture twice.
I’m guessing most of my competition submitted their offer with a closing date about 30 days in the future because that’s how long it takes the average buyer to close their loan. This is how 99% of the offers get submitted today. While it's true that the seller could have countered the close date with any one of the other buyers, they didn’t have to because we made it easy for them.
Knowing that my buyers had some flexibility in their move date, we used that and a solid offer to leverage ourselves into the top position. My clients were ecstatic and a little shocked that by removing one obstacle for the seller they got moved to the front of the line.
If you want to work with an aggressive agent who knows how to win in this market, then give me a call at 615.519.0983.
Next week, I want to talk with you about how to make sense of all the paperwork involved in the sale of your home. And the best way to protect yourself. 2020-07-28T07:34:00-07:002020-07-28T07:37:27-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2933If you are moving to Nashville, this is for you<img src="https://assets.site-static.com/userfiles/702/image/Moving%20to%20Nashville.JPG" width="400" height="400" alt="If you are moving to Nashville, this is for you" title="If you are moving to Nashville, this is for you" class="img_box_right" style="margin: 5px 10px;" />If you are moving to Nashville, then this story is for you…especially if you are new to this city, don’t know a single soul and you are not sure who to trust.
I’ve been in those shoes before and it’s not a lot of fun.
Your best defense is to find someone who understands your concerns and will let you ask a lot of questions. In that spirit, here’s what I’d like to do with this column for the next couple of weeks.
It’s your chance to learn and get answers without obligation.
I’d like to walk you through our Smart Buyer System. This is the same plan Gretchen and I have used to help hundreds of buyers find the right home, negotiate the best price, and walk with them all the way to the closing table.
I am going to focus on six areas that are important to you. I’ll show you how we are different than the average agent, why that is valuable to you, and what common mistakes to avoid.
Including how we help you…
• Learn About Neighborhoods<br />• Find the Right Home<br />• Provide Info on Market Value<br />• Negotiate the Best Price<br />• Make Sense of the Paperwork<br />• Tap Into Our Network of Professionals
Now the first thing I want to do is listen to your thoughts. Of these six items, which one concerns you the most?
Hit reply and let me know.
Here’s what one of our clients said on Zillow about their recent experience moving to Nashville:
“We have bought and sold 12 homes in 45 years of wedded bliss. Mr. Jolly helped us to purchase our lucky home #13. I can honestly say that he has been the best Realtor with whom we have worked.”
P.S. Next week the focus is on Learning the Neighborhoods. See you then!2020-06-30T07:00:00-07:002020-06-30T07:16:52-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2924Don't let your agent do this to you<img src="https://assets.site-static.com/userfiles/702/image/DontLetYourAgent.jpg" width="400" height="400" alt="Don't let your agent do this to you" title="Don't let your agent do this to you" class="img_box_right" style="margin: 5px 10px;" />One of the things I despise about dealing with large corporations is that you frequently get bounced from person to chat to voicemail and back just get your problem solved.
It sounds like…”Let me get you over to this group. Or, the person who schedules is on vacation this week. And, I can do this part, but you’ll need to talk to accounting to get that done.”
You spend hours on the phone for something that should take minutes just because their system is designed to work for them and not for you.
It’s enough to drive you crazy.
That’s why long ago, Gretchen and I decided that we will be your main point of contact from the beginning to the end of your move.
Especially, when it comes to managing the transaction when you go under contract. That’s one area agents frequently farm out to a transaction coordinator or a junior member of their team.
And…it might be the most difficult part of a sale.
That’s because 100’s of people from agents, assistants, inspectors, loan officers, processors, underwriters, title searchers, and appraisers touch your transaction as it moves through the system. It only takes one of them to skip a beat and your home sale comes to a grinding halt.
While I understand why agents think that makes sense for their business, however, I question whether they are considering it from your point of view.
In addition to the convenience factor, most people feel less stressed and have fewer frustrations with one point of contact.
That’s not all. Here are a few other things you need to consider.
Who is going to understand the unique needs of you, the client, and make sure they are met: the person you’ve been working with since day one or the one who joined in at the last minute?<br /><br />Who is going to be able to best move the contract quickly through all of the steps to the closing table: the one who has personal relationships with all of the stakeholders or the new guy on the team?
Who is your best advocate during this trying time: The person closest to you and this transaction or someone you’ve never met in person?
I could go on-and-on, but I think you got my point. You are best served by the agent you hired from the beginning of the process to the end.
That’s what we intend to do for you.
If you want to see how we can best help you through this process, then give me a call at 615.519.0983. We are here for you!
Here’s what one of our recent clients said in a review on Google.
“Great experience AGAIN with Steve! Selling our house from a distance was made super easy by him. With the Covid-19, Steve was able to hold open houses, create Virtual Tours, and get our home sold extremely quickly! Steve has also provided us with great advice during the listing and negotiating phases and has done so with the 3 times we've worked with Steve. Certainly recommend and will be using him again!”
2020-06-23T06:53:00-07:002020-06-23T06:55:53-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2836Are Home Prices Falling in Nashville?<img src="https://assets.site-static.com/userfiles/702/image/NashvillePrices.jpg" width="400" height="400" alt="Are Home Prices Falling in Nashville?" title="Are Home Prices Falling in Nashville?" class="img_box_right" style="margin: 5px 10px;" />This question is top of mind for almost everyone in Nashville.
If you own a home or rent here, real estate is one of your biggest monthly expenses. Beyond that, it’s also a huge driver of the economy. 25% of the national GDP comes from the housing industry and probably more in Music City.
To say it’s important would be an understatement.
I’ve been keeping an eye on pricing for you. I want to tell you what I know and then what I expect to happen. If you have any followup questions, I am here for you.
Here’s what I know.
The median sales price for single-family home sales in Greater Nashville for the first 27 days of April was $315,000. That puts the median sales price DOWN 0.8% over March 2020 and UP 8.7% over the same time period last year.
I said UP 8.7% over last year. And basically flat over last month.
First, I’m impressed as many of these homes went under contract in March when we were under stay at home orders for an indefinite time period. And encouraged that the leading market indicators are stronger than expected in this hard-hitting crisis.
More than 900 home sales will be entered into the MLS before they close the books in April, and many of those will be new construction which sells at a premium. So, I expect the median sales price to stay the same or increase slightly by months end
I also need to say that I’m cautiously optimistic at this point. If we don’t stay on a path of safely restarting the economy, my confidence fades fast.
Here’s what I think will happen.
Right now, I do not expect the median sales prices to be in decline in Nashville at the end of 2020.
Prices increased and the market expanded in two of the last three recessions in Nashville. That’s also true for the nation as a whole. Home prices don’t typically fall during a recession.
The falling prices a decade ago had more to do with a multitude of bad loans, a huge oversupply of new construction, a delayed stimulus package, and late action by the Federal Reserve to shore up the economy. None of these factors are in play at this time.
Rest assured if I am wrong, I’ll be the first to keep you in the loop with any market changes. I’m keeping a closer eye on this than ever before.
If you want to check on your home price today, visit my site <a href="http://nashvilleprices.com/">NashvillePrices.com</a> for 2 instant price estimates of your home. <br /> 2020-04-30T08:11:00-07:002020-04-30T08:13:51-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:11655 Amazing Places to Walk and Hike in Nashville<a title="Nashville Map Search" href="https://www.nashvillerealestatenow.com/property-search/results/?searchtype=2&searchid=258385"><img src="https://assets.site-static.com/userfiles/702/image/Beaman_Park_-_Nashville.jpg" width="400" height="267" alt="Beaman Park Bench - Nashville TN" title="Beaman Park, Nashville TN" class="img_box_right" style="margin: 5px 10px;" longdesc="Beaman Park, Nashville TN" />Nashville</a> is an area blessed with natural beauty. This area stands apart from other large cities due to the abundance of nature and the number of parks within a few miles of the downtown area. <br /><br />Spring & Fall are my favorite times to enjoy the outdoors in Tennessee. With the change of seasons always on the horizon, I wanted to share some of my favorite places in Nashville to take in the beautiful scenery of this river valley we call home. <br /><br />Percy and Edwin Warner Parks<br /><br /><a href="https://www.warnerparks.org/where-to-explore/hiking"><img src="https://assets.site-static.com/userfiles/702/image/Warner_parks_1.jpg" width="400" height="267" alt="Warner Parks, Nashville TN" title="Warner Parks, Nashville TN" class="img_box_left" style="margin: 10px;" />The Warner Parks</a> are part of the Metro Nashville Park System and are one of the top destinations for hikers in the city. Percy Warner is located just nine miles from downtown Nashville just south of <a href="https://www.nashvillerealestatenow.com/belle-meade/">Belle Meade</a>. When combined with Edwin Warner Park, this area spans nearly 2700 acres and is the largest city managed park in the state. <br /><br />Most consider the Mossy Ridge Trail in Percy Warner to be the best hiking trail in Nashville. This trail was recognized as one of the top seven hiking trails in the nation by Fodor’s Travel Guides. <br /><br /><img src="https://assets.site-static.com/userfiles/702/image/warner_parks_2.jpg" width="400" height="267" alt="Warner Parks - Steeplechase Nashville TN" title="Warner Parks - Steeplechase Nashville TN" class="img_box_right" style="margin: 10px;" />Also, known as the red trail, Mossy Ridge is the most strenuous in the park. The south loop is the steepest part of the hike. This trail offers the best opportunity to see a variety of wildlife and wildflowers. The Quiet Point Spur overlooks the Deep Well Trailhead and Picnic Area. The Eanes Overlook Spur provides a north-facing view of West Meade. <br /><br />The Warner Parks also offer 8 additional hiking trails, horse riding trails, picnic areas, nature center, two golf courses, and many other planned activities. <br /><br />Radnor Lake<br /><br /><a href="http://radnorlake.org/">Radnor Lake</a> is part of the Tennessee State Park System and is another top destination for hikers in Nashville just southeast of <a href="https://www.nashvillerealestatenow.com/green-hills/">Green Hills</a>. Because it is classified as a Natural Area, the land use at the park is restricted to hiking, canoeing, and education to avoid upsetting the delicate balance of this unique ecosystem. Radnor Lake is located about 10 miles from downtown Nashville.<br /><br />There are six miles of trails at the park, with the most popular trail being the Radnor Lake Loop. This 4.3-mile circuit wraps neatly around the 85-acre lake that is the centerpiece of this natural area. <br /><br />The lake loop is an easy hike with little changes in elevation and beautiful views of the lake. If you are feeling adventurous and would like to take in some gorgeous views of the downtown skyline, take a side trip on the Ganier Ridge trail just off of the lake loop. <br /><br />Richland Creek Greenway<br /><br /><a href="http://www.nashville.gov/Parks-and-Recreation/Greenways-and-Trails/Maps.aspx"><img src="https://assets.site-static.com/userfiles/702/image/Richland_Creek_Greenway.jpg" width="400" height="267" alt="Richland Creek Greenway, Nashville TN" title="Richland Creek Greenway, Nashville TN" class="img_box_left" style="margin: 10px;" /></a><a href="https://greenwaysfornashville.org/wp-content/uploads/2016/01/richland.pdf">Richland Creek</a> is part of the growing Metro Parks System of trails and greenways located only 4 miles from downtown Nashville. Although not a true hiking trail, Richland Creek is a great place to get some quick exercise while soaking in the beauty of Nashville.<br /><br />The greenway offers nearly 4 miles of paved trails for walkers, runners, and bikers. The trails connect the neighborhoods along the Harding Rd and White Bridge Corridors with the Sylvan Park neighborhood. <br /><br />A family favorite is to hike the Richland Creek Greenway and take in a light breakfast or lunch at one of the great places to eat in Sylvan Park. <br /><br />Beaman Park<br /><br /><a href="https://greenwaysfornashville.org/wp-content/uploads/2020/01/GW_IndividualMaps_Beaman_Park.pdf"><img src="https://assets.site-static.com/userfiles/702/image/beaman_park_3.jpg" width="400" height="267" alt="Beaman Park, Nashville TN" title="Beaman Park, Nashville TN" class="img_box_right" style="margin: 10px;" />Beaman Park</a> is located in a rural area on the edge of the Highland Rim in the northwestern part of Davidson County and is part of the Metro Park System. Beaman Park is a 1700 acre tract that offers 3 trails that cover more than 5 miles of hiking.<br /><br />Due to its location on the edge of the Highland Rim, Beaman Park offers unique species and variations of plant life. The landscape in this park is more rugged with narrow hollows, streams, and waterfalls. <br /><br />In addition to the hiking trails, Beaman Park also has a Nature Center and a variety of educational programming. At one time this area was a hotbed for moonshiners and may have been a hideout for the James Gang. Frank & Jesse were known to hideout in this area.
Shelby Park/Shelby Bottoms<br /><br /><a href="https://greenwaysfn.wpengine.com/wp-content/uploads/2016/01/shelby.pdf"><img src="https://assets.site-static.com/userfiles/702/image/Shelby_park1.jpg" width="400" height="267" alt="Shelby Park, Nashville TN" title="Shelby Park, Nashville TN" class="img_box_left" style="margin: 10px;" />Shelby Park</a> is affectionately called Shelby Bottoms by most people in Nashville. Located just across the river from downtown Nashville, Shelby Bottoms contains more than 1,200 acres of rolling green space <a href="https://www.nashvillerealestatenow.com/east-nashville/">along the Cumberland River in East Nashville</a>. <br /><br />The park features 5 miles of paved Greenway and 5+ miles of more primitive hiking trails. The Cumberland River Pedestrian Bridge connects the Shelby Bottoms Greenway to the Stones River Greenway. <br /><br /><img src="https://assets.site-static.com/userfiles/702/image/Shlby_park_2.jpg" width="400" height="242" alt="Shelby Park, Nashville N" title="Shelby Park, Nashville N" class="img_box_right" style="margin: 10px;" />In addition to the trails, Shelby Bottoms also offers sports fields, picnic area, dog park, boat ramp, community center and two golf courses. This area was part of three separate farms as late as 1994 when it became the pilot project in Nashville’s greenway program. 2020-04-21T06:42:00-07:002020-04-21T07:13:06-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:1225Where do you find your inspiration?<img src="https://assets.site-static.com/userfiles/702/image/Inspiration.jpg" width="400" height="400" alt="Inspiration" title="Inspiration" class="img_box_right" style="margin: 5px 10px;" />
On May 27th, 2010, Infantry Platoon Sgt. Rick Clement was on routine foot patrol in Helmand Province. Helmand is in the south along the border with Pakistan and a long way from safety. Rick stepped on a pressure plate that was wired to an IED. He lost both of his legs above the knee, broke his back, hips and ribs.
If that wasn't bad enough, he flat-lined twice in the chopper ride back to Camp Bastion.
Three weeks later he woke up in a hospital determined to not let this set him back. Rick was the most seriously injured British Soldier to survive Afghanistan.
He set a goal of walking to lay a wreath on Remembrance Day in honor of four friends that died. Remembrance Day is the British version of our Veterans Day.
Rick gradually became stronger and more independent. Swimming, Driving, nothing could stop him.
Except this setback.
His amputations were so high; his doctors decided that prosthesis' for his legs were not possible.
Determined to win any way he could. He spent the last 22 months in a rehabilitation center for injured soldiers. He was outfitted with the latest biotech limbs.
Rick's dream, thanks to his tenacity, became a reality.
He took his first unaided steps to place a wreath to honor his friends and all others who gave all.
Rick said of his fallen brothers, "I use them as inspiration for me to get out of bed and carry on."
This brave soldier set a second goal to ride a jet ski around the British Isles to raise money for his charity which helps soldiers suffering from PTSD get off the streets and into homes of their own.
I want to say to Rick and all the other heroes who are serving on the front lines overseas and in our hospitals today, "You are my inspiration. Thank you for giving so much we all can live in safety and peace in the comfort of our homes."
Let me ask one more time...
Where do you find your inspiration?
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2020-04-14T08:35:00-07:002020-04-14T08:49:44-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2797Forbearance To Free Up Your Cashflow<img src="https://assets.site-static.com/userfiles/702/image/Forbearance.jpg" width="400" height="400" alt="Forbearance To Free Up Your Cashflow" title="Forbearance To Free Up Your Cashflow" class="img_box_right" style="margin: 5px 10px;" />Lately, I’ve seen a mountain of misinformation considering the forbearance options included in the CARES Act that Congress passed last week. And I want to clear that up for you so you won’t make the same mistake that thousands of people are making right now.
Many folks want to use this tool to delay paying mortgage payments to free up cash flow during this crisis. I understand why this makes sense on the surface. However, you need to dig deeper to truly understand what you agreed to do.
In case you don’t know, the bulk of my real estate career has been working with my bank clients to sell their foreclosed properties. I gained a ton of knowledge and industry contacts during that time.
In addition, I also helped many folks make wise choices to avoid the bank taking ownership of their homes.
I want you to know that I am here for you too!
This is not legal advice, but helping you understand your options so you can make the best decision for you and your family.
Currently, the Federal Government is allowing you to get a forbearance on your mortgage payments without any proof of hardship. This could be a huge mistake if your goal is to stack a pile of emergency cash.
Here’s why…
A forbearance does not add the monthly payment schedule to the end of your loan.
There are other options like payment deferrals and loan modifications that have various rules. These small differences could make a huge impact on your financial condition.
First, a forbearance is a temporary relief from making the monthly payment. What most do not understand is that the total of the monthly payments are due in full at the end of the forbearance period.
For example, if you pay $2,000 per month and get a six-month forbearance, then at the end of six months the bank will expect you to pay $12,000 to bring your loan current.
This is important. If you decide to stack cash, then keep enough on hand to pay in full at the end of your forbearance period.
Second, a less popular option with banks is the payment deferral. What most people do not understand about the deferral is that you will have a balloon payment due
For example, if you pay $2,000 per month and get a six-month payment deferral, then the bank will expect you to pay $12,000 when you sell the property or at your mortgage maturity date. Whichever comes first. This could be a huge surprise for you down the line.
The payment deferral is a little better than the forbearance. To get a payment deferral, most loan servicers are going to require proof of hardship.
The last option is the loan modification. This is likely the best option for you and the toughest to negotiate with your lender.
This type of relief is the only one that may allow you to make additional monthly payments after the loan maturity date. Though it’s not guaranteed. Your repayment plan will be spelled out in the loan modification agreement that you work out with your bank.
Read any of these agreements carefully and get the advice of an attorney if there is anything you do not fully understand.
If you or someone you love is experiencing a crisis and needs help, feel free to give me a call. I will do anything that I can to help and get your questions answered. You can TEXT/CALL me at 615.257.9996.2020-04-07T09:26:00-07:002020-04-07T09:28:43-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2786You are better than any doubts you have about yourself<img src="https://assets.site-static.com/userfiles/702/image/doubts.jpg" width="400" height="400" alt="How to deal with self-doubt" title="How to deal with self-doubt" class="img_box_right" style="margin: 5px 10px;" />There are two kinds of people in this world: Those who have a healthy amount of self-doubt and those who do not. This story is for the latter.
Abraham Lincoln famously struggled with doubt and depression for most of his life. What brought on those feelings? We will never know for sure. Though, it’s probably similar to why all of us to feel that way.
Past failures, the baggage dumped on you by society/family, comparing yourself to others, facing new challenges, and the fear of success all can all be debilitating, if we let it.
At the age of 26 and struggling in his early political career, the future president said, “I am now the most miserable man living…I must die or be better.”
Lincoln openly admitted to his struggles with melancholy. Most people today would call that depression. And when you’re wrestling with those thoughts, even the smallest of problems seem insurmountable.
During this time, what we know today as modern psychology did not exist. Neither had the medicine people use to help them cope today.
So he turned to the bible for comfort and consolation.
The solace that he received from reading helped him transform the focus on his personal demons to a greater cause, the struggle for universal justice.
In 1958, he lost the Illinois Senate race to Stephen A. Douglas. It would have been easy for him to slip back into his suicidal thoughts. Instead, he said, "The cause of civil liberty must not be surrendered at the end of one, or even, one hundred defeats.”
And during the darkest days of the Civil War, Lincoln proclaimed, "I expect to maintain this contest until successful, or till I die.”
What changed Lincoln from a man of sorrow to one of the greatest leaders to ever grace this planet? <br /><br />It was a purpose greater than himself.
Finding that cause for your life can be your savior too. It takes some self-reflection of what makes you passionate. You’ll need to adapt to the changing world around you, set your ego aside, and ignore the negative people in your life.
Then, if you listen to the quiet voice deep down in your heart, you’ll find your life’s mission.
More people love you, count on you and need you than you realize. And if you not there for them in their time of need.
Who will be?2020-03-26T08:12:00-07:002020-03-26T08:16:42-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2783Here's some good news about Nashville<img src="https://assets.site-static.com/userfiles/702/image/March_2020_Update.jpg" width="400" height="356" alt="March 2020 Update Nashville" title="March 2020 Update Nashville" class="img_box_right" style="margin: 5px 10px;" />I wanted to give you a quick update on the real estate market in Nashville.
Before I do that if you need anything [and I mean anything] just let me know and I’ll do whatever I can to help you. Ok?
We are taking lots of extra precautions, especially with showings. We’ve put on hold any unnecessary face-to-face meetings, and offering to do showings via Facetime. For those who need to see a home in person, we are validating that everyone is free of symptoms, avoiding touching surfaces, and making sure that personal hygiene is a top priority. And, there is much more that we are doing behind the scenes.
Here’s the good news, the Nashville real estate market is strong and steady.
The best indicator of recent market performance is the number of closings. Other than the bump we expect to see at the end of every month, you’ll see in the attached graph that the number of closing every week is holding steady since the end of January.
The best indicators for short term performance are the number of showings and the number of pending sales. Showings have tapered off slightly since February, but that is not uncommon, as we typically see a small slow down in March as people enjoy their spring break time.
There are currently 4,684 listings in pending status across Middle Tennessee, that figure is in ahead of the 3,504 sales pending reported at the end of February.
These are good signs for Tennesseans since housing is 25% of the national economy.
Nashville has proven to be extraordinarily resilient during downturns in the economy as I showed you in this case study that I put together, How Nashville Survived the Last 3 Recessions. You can get a copy here: <a href="http://bit.ly/NashTN3">http://bit.ly/NashTN3</a>
Once again I want to stress that if you need anything, Gretchen and I are here for you. You can TEXT/CALL me at 615.257.9996.
✌️ & ❤️ y’all2020-03-19T09:16:00-07:002020-03-19T09:20:54-07:00Steve Jollytag:nashvillerealestatenow.com,2012-09-20:2760Do you hear the struggle in their voice?<img src="https://assets.site-static.com/userfiles/702/image/Struggle.jpg" width="400" height="267" alt="Do you hear the struggle?" title="Do you hear the struggle?" class="img_box_right" style="margin: 5px 10px;" />This is a story from a buyer in another state.
This is our first time buying a home and it’s so stressful. We are stuck in a seller's market so that makes things way harder. We’ve been outbid several times and we finally had to offer $5k over asking on a house and I’m also paying for closing costs. Inspection went through, we agreed on repairs. now we’re waiting for the appraisal and it’s been 8 days since my lender ordered it and they haven’t even stepped foot in the property yet. At this rate, we won’t even know if the house is ours until right before closing.. if that. Plus I have a feeling this thing won’t appraise. We are currently renting and my landlord is still waiting for me to tell him whether or not this closing date is set in stone.
Sound familiar?
According to the Dartmouth College Stress Test, moving is one of the most difficult life events we face. I could sure feel this person’s pain.
My biggest fear is that this buyer was not properly prepared by her agent and lender for the challenges she would face.
Not that it would have solved her problems, but it would have made them much easier to handle.
And not so overwhelming.
That’s why I put a priority on educating my clients. Taking the time to explain it clearly and reminding them in important moments.
To my clients, It might seem like a pain at times, or that I am not moving fast enough.
However…
Several times during the sale process, I’ll see the proverbial “lightbulb” go off in my client’s mind and I know that I’ve just helped them make a better decision for themselves and their families.
That’s what makes the struggle worth it for me.
How can I make it easier for you? Send a message and let me know. I am here for you.
2020-03-04T13:24:00-07:002020-03-04T13:28:36-07:00Steve Jolly