Brentwood, Franklin, Nashville & Southern Middle Tennessee                    Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your new home here. Please reach out if you have any questions at all. We’d love to talk with you!

 

 

March 25, 2020

The Ultimate Home Office

Corona Virus got you working from home for the next few weeks? Why not enjoy it! Create an inspiring and comfortable workspace right here at home with these pro tips.

Does color matter?

Yes, according to Harrington College of Design, the color surrounding you can impact your mood and enhance productivity. Freshome.com suggests green as the most relaxing color for your eyes, relieving stress and encouraging the unwinding of your mind.

Is your office space limited?

Studies have shown the average worker spends a week each year looking for misplaced papers and items.  So…have you ever heard the phrase “a place for everything, and everything in its place”?  If you’re short on space, consider floating shelves and building up rather than out.  And keep a paper shredder under your desk.

Should you personalize your office space?

Entrepreneur.com recommends keeping your workspace free from clutter, helping you think more clearly. Clutter accumulates quickly so the fewer unnecessary items in your office space the better. And personal items, such as photos of your recent vacations, can cause distractions.  Less is more when it comes to office space.

The best place to position your desk?

Studies show exposure to natural light has a wide range of health benefits, including stimulating your immune system and increased productivity.  If possible, position your desk in front of a window.

My top 5 office essentials:

1.     High speed internet.  There is nothing that frustrates me more than waiting and waiting and waiting for access.

2.     A heavy duty, built-to-last surge protector.

3.     A dependable multipurpose printer/scanner.  I use the HP4650 and love it.

4.     An ergonomic office chair. Long hours at your desk create stress for your lower back. A great ergonomic office chair is worth its weight in gold.

5.   A heavy-duty paper shredder.

Posted in Blog
March 11, 2020

The Amazon Effect

Nashville, Antioch, Lebanon, Murfreesboro and who knows what’s next on Amazon’s agenda for Middle Tennessee? With the Operations Center towers set to open in Downtown Nashville in 2021 and plans for a 100,000 square foot fulfillment center near the airport, Amazon will be adding about 5,000 jobs to the 3,700 that already exist in Middle Tennessee. The move to Nashville will be the largest jobs deal ever in Tennessee.

With companies like Amazon moving in and Middle Tennessee being a key location for industries like healthcare, it’s no wonder there are so many relocating from other states to the area. Things like plentiful employment opportunities and lack of state income tax make the area attractive to many. Real estate inventory is scarce in comparison to demand and for a few years now, contractors can’t seem to build housing developments fast enough. And is it supposed to slow down any time soon? Not in Middle Tennessee. Home values are expected to continue rising despite the indications that the housing market will bottom out in the near future for the general U.S. Conclusion? Now’s the time to buy AND now’s the time to sell.

Posted in Blog
Feb. 26, 2020

Home Renos in 2020 – What Gets The Best Return?

Soon-to-be home sellers, listen up! Curb appeal still has a big impact on the return you will receive on your investment. Of the Top 10 home improvement projects, 8 are related to the exterior. Renovation costs have increased across the board but there is a consistent message that exterior renovations yield the biggest bang for your buck!

Nationally, these 10 projects show the greatest ROI (return on investment):

  1. New Roofing – Average Cost $7500, Estimated Cost Recovery 107%
  2. New Hardwood Flooring – Average Cost $4700, Estimated Cost Recovery 106%
  3. Hardwood Floor Refinishing – Average Cost $2600, Estimated Cost Recovery 100%
  4. Manufactured Stone Veneer – Average Cost $9357, Estimated Cost Recovery 95.6%
  5. New Garage Door – Average Cost $2100, Estimated Cost Recovery 95%
  6. HVAC Replacement – Average Cost $8200, Estimated Cost Recovery 85%
  7. Minor Kitchen Remodel (Midrange) – Average Cost $23,452, Estimated Cost Recovery 77.6%
  8. Siding Replacement (Fiber Cement) – Average Cost $17,008, Estimated Cost Recovery 77.6%
  9. Siding Replacement (Vinyl) – Average Cost $10,731, Estimated Cost Recovery 74.7%
  10. Window Replacement (Vinyl) – Average Cost $17,641, Estimated Cost Recovery 72.3%

Although it doesn’t rank in the top 10, don’t ignore sprucing up your deck and updating your entry doors. These exterior renovations also rank high, above 60% returns on investment, and do wonders for the curb appeal of your home!

Posted in Blog
Feb. 12, 2020

Nashville’s Rental Rates: A Giant LEAP

Nashville’s Rental Rates: A Giant LEAP

When I think about Leap Year 2020, I think about the giant leap Nashville’s rental rates have taken in the last decade.  According to the Nashville Business Journal, rental rates are up 83% since 2010, earning Nashville the #7 spot in the nation for rent increases! 

Last year, Nashvillians spent an astounding $2.8 Billion on rent. Current rental rates average $1432 per month…and these prices are increasing every year!

Compare this to the benefits of owning your own home:

·        First, your house payment doesn’t change, it remains the same year after year.

·        Interest payments & property taxes can be applied as tax deductions on your income tax return.

·        Home values in the Nashville area are appreciating at a steady 7-10+% per year with no signs of slowing down any time soon.  Where else can you get a return on investment like this?

Additionally, the winter is usually a slower time for moving companies so you may be able to negotiate the price of your move, as well as have your pick of moving date!

Posted in Blog
Jan. 29, 2020

Middle TN Market - Still Booming

Graph

So, how’d we wrap up 2019? Middle Tennessee home sales broke all-time records with 42,356 homes sold and closed. Plus, another 3,076 properties had contracts pending that will close in early 2020.  That’s an incredible number…over 45,000 homes sold in Mid-TN last year!

Kicking off 2020, there are only 9,365 properties actively on the market.  I share this because if you’re considering selling, it’s a great time to get intentional about getting your home out there in front of buyers.  The number of qualified, ready-to-buy buyers, just waiting for homes to become available, greatly outnumber the available properties on the market today.

If you’re thinking about buying, now is the time to prepare.  Within Middle Tennessee, there are many sub-markets and niche markets so now is the time to get educated on YOUR market, knowledgeable about the home buying process, and have your financing in place and ready to go.  With the limited inventory available, homes properly positioned are selling quickly.  2020 is already indicating an uptick in competing multiple offers! So…being educated, knowledgeable and prepared are the keys to winning the home of your dreams!

Posted in Blog, Market Updates
Jan. 15, 2020

Why Buying A Home In Winter Is A Smart Idea

Winter House

Most people don’t associate winter with being the best time to buy a house, but there are definite reasons why it’s a smart move!

TAX BREAKS. By buying your home before the end of the year, you could score a few additional tax deductions, and we all like tax deductions, right?  Be sure to consult your tax professional on how you can turn this benefit into a bonus for you!

COMPETITION. Less than 6% of existing home sales happen in January and February, compared to 40% in the spring and summer months.  Making your move in winter drastically decreases your competition and reduces the frustration of competing with the cash offers and “bidding wars” that come along with buying in the spring and summer.

MOTIVATED SELLERS. If a house is listed in winter, chances are the seller NEEDS TO SELL!  Many companies promote and transfer employees at the beginning of the year and these transferee’s have high motivation to sell and tight timelines to relocate which could be a huge bonus for you as the buyer!

FASTER CLOSINGS. During the winter months, sales can usually close more quickly due to the lower number of buyers in the market compared to other times of the year.  If getting a speedy loan approval and a convenient closing date is important to you, buying this winter is a great idea.

CONDITION.  Weather conditions can expose things not as obvious at other times of the year such as drafty windows, poor insulation, cracks around doors and windows, how well the heating works!

MOVING COMPANIES. Since winter is usually a slower time for moving companies, it is generally easier to negotiate the price of your move, as well as pick your most convenient move date!

Posted in Blog
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates