Nashville Real Estate Talk

Mt. Juliet Home Prices are on the rebound and outperforming Hendersonville. One year ago Hendersonville home prices were $20,000 above Mt. Juliet. Now it appears that Mt. Juliet home prices have caught up. In this latest Nashville Market Report, Mt. Juliet homes appear to be just $2,000 below the Hendersonville Median Price.

As you can see from the chart, both Mt. Juliet and Hendersonville home values are below where they were 1 year ago. But they appear to have hit bottom in May and are now moving upward.

Although both area are trending up Mt. Juliet is outperforming Hendersonville in the rebound. Part of this is because Mt. Juliet homes did not lose as much value. But there are two points to be made here.

1. The rebound  in home values started sooner in Mt. Juliet. Home prices began to rise about 6 weeks before Hendersonville.

2. The rebound is clearly stronger for Mt. Juliet Home values over Hendersonville. At this rate Mt. Juliet Homes will e more expensive than homes in Hendersonville within a few months.

To get our free Market statistics for your Nashville area community use this link:
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What to do if you Don’t have Flood Insurance and have Damage in Nashville?

Many of the folks suffering the most damage and anguish from our Nashville Flood did not have flood insurance. In Many cases the Federal Emergency Management Administration ( FEMA) had not acknowledged that their homes were in a flood plain.  Often these flood plains are identified as being a 50 year , 100 year or even 500 year flood plain.  This of course means that the odds are that a flood could occur once in 50 years, 100 years or 500 years.

However; the Army Corps of Engineers has already designated the Nashville Flood as being a “once in 1,000 year event!”.

So how could home owners have known?

Add to this that flood insurance is ONLY available to those who live i designated flood plains and you get the idea.  Nashville homeowners were in the dark.

So what do you do if you didn’t have insurance but you have flood damage?

First: Don’t lose heart. The Federal Government will be designating Nashville as disaster area soon.  When that happens, federal funds will be made available to homeowners on a case by case basis.  Usually this will be in the form of low cost, low interest loans to help repair the damage.

Second: Document everything! Take pictures, write it all down. You may need this information to qualify.  Make a video and store it in a safe place.

Third: Keep any and all receipts! Home depot, Veterinarian bills, food, anything and everything. If it’s money you’re spending because of the damage to your home, you must have a record of it.

Fourth:  Watch the FEMA website at http://www.fema.gov/.  You will be able to apply there on line for disaster assistance. here is their other contact information.

 If you have anyspecial questions, call Jim at 615-347-4424.

We’re here to help.

What’s Selling in Mt. Juliet?  And for How Much? This Home in Hawthorne Valley is a Good Example

Home in Hawthorne Valley, Mount Juliet

Our clients from Atlanta just closed on this new home in Hathorne Valley here in Mount Juliet.

The origional list price was $339,000.

We paid  $280,000! with 5% Mortgage

The house has 1/2 acre lot, 2800 sq.ft. , incredible floor plan and we even negotiated all stainless appliances including a Double Oven! I’m not kidding!

How?  We went at the Builder and their agent with solid marketing stats, we showed them that there was no way they were gonna get their asking price.  We also let them know our buyer was solid and was serious.  We won.  Thats it.

Formal Dining, This House is Incredible

If you’re thinking about buying a home anytime in the future Do It Now!

Cathy and I can’t promise we’ll get this great a deal for everybody , but we will try our hardest.

Wonderful Setting, Huge Lot

Don’t make an offer on a  New Home in Mount Juliet without us.

Cathy & Jim Wood, Crye-Leike’s #1 Couple

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Not all Real Estate Agents are Realtors!

I had a call this morning from a very distressed Wilson County  home seller.  She’s said she needed a new Realtor, the one she has doesn’t seem interested in her home and has been avoiding her!

Protect the investment!

I wasn’t sure what to make of this.  I listened for a while and told her I would look up her property and see if we could improve on the marketing being done by her present Realtor.

After getting off the phone I went to the Nashville are MLS and put in the property address.

“No Listing”, came back.  Next I did a thorough property search on her address and all that turned up was the previous listing when she had bought the property in 2006.  No other listing had taken place, no “Withdrawns” or “Expireds” were to be found either?

Now I was really interested.  I looked up the agent in our MLS roster, “No Listing”.

Bingo. The home seller had been hoodwinked.  Thinking she was signing up with a Realtor, she had instead signed a long term contract for exclusive marketing of her home for months with someone who had no access to the MLS Listing service, no website and apparently, no other listings!

The entire marketing effort for the past 90 days was simply a crude sign at the end of her street with a pointer, and a sign in her front yard.

Non- Realtor agents do exist. They just have to pass the Tennessee Real Estate Commissions test and just like that they are legal to assist in the buying and selling of property. However; there are many limitations , mainly to the people they work with.

Such  as:

1. Only Realtors can list your home on the Multiple Listing Service (MLS). Here in Nashville we have the Middle Tennessee Multiple Listing Service or MTRMLS.  That is reserved for Realtors in good standing.

2. Only Realtors have a Code of Ethics.  While the state of Tennessee maintains a set of codes for Real Estate Agents and Brokers, the Realtor Code is much more stringent and demands obeyance.

3. Only Realtors have access to the Sentri-Lock system. This is the most effective and safe way to co-ordinate the showings of your home. Only Realtors have access to them and each access is electronically recorded and Time Stamped.

4.  Only Realtors have the right to use that word Realtor.  It is trade marked.  If you are approached by someone to list your home or help you find a home, make sure they are a Licensed Realtor. Ask them for their National Assoc. of Realtors ID #.  Then call your local Chapter ( Greater Nashville Assoc. of Realtors, GNAR )and verify their standing.

If my caller today had known to do this, she might have already sold her home and be in that new home she is dreaming about by now.

I’m going to call her back now and ask her to bring over her contract to see if there is anything we can do to help her.  If her agent mis-repesented himself, she might be able to withdraw from the contract, but she has still missed valuable time on the market.

How did this happen?  On one hand we Nashville area Realtors need to make more information known about the advantages we offer. On the other hand Nashville area home buyers and Nashville area home sellers need to be more demanding when they interview agents.  Your home may be the largest investment you own,  don’t trust it to anyone but a professional.

Historic Cambridge Woods and Cambridge Crossing,  Mt. Juliet Communities in Demand. Almost 160 years ago Richard Smith started a farm in Mt. Juliet. Mr. Smith had formerly been the overseer of the Hermitage, President Andrew Jackson’s nearby farm.

Mt.Juliet Historic Community

Over the years this farm became known as the Gillion Smith farm. Today where that farm existed we have the Mt. Juliet communities of Cambridge Woods and Cambridge Crossing.
These two neighborhoods of just 75 homes are distinguished by their  unusual yards and custom homes.

Many of the homes back up to the valley that ran through the original farm. There you’ll find deer and foxes, passing trough in the mornings and evenings.  Hawks are common too.

Other homes are part of the remaining wooded areas of the farm which were never cleared.  Taken together these homes have some of the most distinctive lots in Mt. Juliet or Wilson County.

Home sales in Cambridge Woods. Mt. Juliet, are limited to the few home owners who occasionally leave.  There is always a strong demand for these neighborhoods and so listing do not last long.

Today there are just 3 homes available for sale in both Cambridge communities. There have been 3 sales in the last 4 months,  one home selling every 6 weeks.

The Cambridge communities are located just off North Greenhill rd. in Mt. Juliet, just about 3/4 of a mile before it meets Saundersville Rd. near Lake View Elementary School.

A ride through the community is a great way to appreciate this historic neighborhood.

The Glade in Cambridge Woods

The original Pond for the farm is still there , still full of fish and a meeting place for wildlife.

The Pond at Cambridge Woods

Here is a picture of a Typical back Yard in Cambridge Woods.

Early moring in Cambridge Woods

All homes in Cambridge Woods were custom built like this one.

For more info on this and other Mt. Juliet neighborhoods, call us, Cathy & Jim @ 615-347-4424

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Mt. Juliet home buyers time is running out if you want to get the $8,000 Tax Rebate for buying your first home or first home in 3 years.  Or, if you qualify for the $6,500 Move up buyer incentive.

 

You must have a home under contract by April 30th

You must close by June 30th

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McKay’s Mill has quietly moved to  the lead in home sales for Franklin and the Williamson County area Tennessee.

We tracked sales over the last six month, beginning in September of ‘09 and this is what we found.

During those six months 36 homes sold in McKays Mill, that’s a whopping  6 per month.

Plus, there are currently 21 homes pending in the community as well.

Add to that, of the 36 homes available in McKay’s Mill as of this morning, 5 have contracts on them.

That’s an incredible 62 homes, 10 per month. With just 31 homes available, just a 3 month supply, McKay’s is one of the most sought after neighborhoods in Franklin.     Here are the actual statistics from the Nashville MLS.

McKay's Mill leads Franklin

Why McKay’s Mill?  Community amenities including Olympic pool, picnic areas, 5,000 sq.ft. community center, over 70 acres of Green Space and miles of pathways for bicycle or walking.

Built by the Jones company, one Nashville’s leading builders, McKay’s Mill is a planned community. The Town Center  is designed to accommodate  retail, office space and Day Care.

Trinity Elementary school is nearby and Fred Page High school and Middle school as well.  For more information about McKay’s Mill, contact Jim or Cathy @ 615-347-4424.

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Del Webb Lake Providence Hosting Mt. Juliet Arts Alliance Gala

A Breath of Spring, this years West Wilson Arts Alliance Gala, will be held this year at Del Webb Lake Providence in Mt. Juliet.

Saturday April 10 is the date of this years event.

A Breath of Spring will feature the work of local artists. The Fine Arts Guild will hold an auction of many local works.  Past events have included the work of famous Nashville artist Phil Ponder.

Music will be provided by The Jazz Alliance,  Mt. Juliet’s own jazz orchestra.

Encore Theater will present a skit from one of their recent productions also.

The evening will begin at 6 PM with a Wine & Cheese reception provided by Tea & Co.  and  a Silent Auction preview.

The Menu

Peggy Stubblefield, of “Tea and Co.” ,will provide an hor d’ oeuvres feast with Carving Station featuring beef tenderloin, Shrimp Station,  Seasonal Fruit, Potato Station and Dessert Bar.

“This will be our third year of the Gala”, noted Cathy Wood, event co-chair,  “and each year the event has grow.  By moving to Del Webb we have  more area for the dancers and a larger space for all the art.”

There will also be dancing  with the live auction to follow.

The event is open to the public. Tickets are $50 per person and discounts are available for groups of 8 or more.  For Tickets contact Gary Rabideau at 415-1740 or grabideau@crye-leik.com.

To donate items or for sponsorship, call Jason Loggins at 754-0600

Here at NashvilleRealEsateTalk we have been tracking home buyer appointments for the last several years.  Each appointment is a listing viewed by a home buyer. In Frebruary Nashville Home buyers did not disappoint.

Over 4500 hundred showings were recorded by our appointment center. The largest number of showings since August 2009,  6 months ago.

This was despite freezing temperatures and the coldest February in 30 years.

The $8,000 Tax Rebate is seen as the principal driving force behind these numbers. You can expect Nashville Pending Home Sales for March to reflect these numbers. Closings for March and April will also be inflated by this strong showing.

If you are selling a home in Nashville, you should be receiving strong viewing right now.

Nashville Home Buyer Appointments for February 2010

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Luxury home buyers in Mt. Juliet, Brentwood  and the Greater Nashville area are starting to see some attractive Interest Rates on home Loans, once again.

According to Tom Matthews of HomeTown Lenders in Mt. Juliet, ” these are the lowest rates on luxury homes that I’ve seen in 3 or 4 years.”

Often called “Jumbo Loans”, mortgages on homes costing more than $417,000 in the Nashville area, these loans have been cost prohibitive for buyers up to now.

 ”Last year Jumbo rates were in the 7-8% range and no one was buying”, said Tom.

” Now we have 6.25% to 6.55% and buyers are moving again.”

The important thing here is that loans are not Federally Insured like FHA or VA loans. This money is coming from the private sector.  And the private sector is saying “We believe the market has hit bottom  and these homes will appreciate from this point.”  A sorely needed vote of confidence from the mortgage industry.

Luxury home sellers in Brentwood, Franklin and other high end markets should take this as a positive sign.

Home Buyers can qualify with a 650 credit score AND just 10 % down.

Here are the rates:

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