Franklin, TN Real Estate News

By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
Yesterday, I received an email from a buyer interested in seeing a property. I was with another buyer showing homes and didn't respond.This morning, I contacted the buyer by phone and then by email. I explained I was NOT the listing agent and that the house was under contract. I added that the home has a sale of home contingency and is continuing to be marketed to buyers who don't have anything to sell.Within 15 minutes, I got a call from the buyer. I explained the house was under contract. Before I could say more, he said his agent had told him the home was seller-financed.I stopped him right there and told him he should contact his agent and not be talking to me at all. I explained I wasn't the listing agent. He said he had been requesting information through our website and assumed w...
Comments 9
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
You're thinking of selling your Franklin home and not sure the best way to choose an agent. A friend told you to choose the agent based upon their commission rate. The lower the rate, the better for you.On the surface that sounds like a good idea. However, what if the guy who offers the lowest commission doesn't sell your house? Or doesn't sell it for a good price? That reduced commission is meaningless if the agent sells your home for tens of thousands of dollars less than you anticipated.Should I choose the Franklin TN agent offering the lowest commission?While you may consider commissions an important part of the elimination process, there are other things to consider when hiring a real estate agent to sell your Franklin home. Things you may want to know prior to hiring an agent: How...
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By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
When you work with a real estate agent, they have the ability to change your life. I know you may think that sounds silly but we help people through difficult times every day. Today was one of those days.A few months back, we were contacted by a dear friend. His father's health was failing and it had become necessary to move his parents closer to family. It's difficult for adult children as they see their parents change and become dependent upon them for assistance. When his mother called, she shared that her son had referred her to us because we were 'the best'. That was a very nice thing for her son to say. We felt privileged to help his parents with the process of relocating to Franklin.They traveled from Florida in May and we began the home search. As luck would have it, not much wa...
Comments 25
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
Several years ago, I had a Franklin listing located on a one-acre lot. The house was built in the late '80's but the sellers had totally renovated the kitchen and master baths. Yes, there were two master baths: one up, one down. The house had been meticulously cared for and was beautifully decorated. Even the roof and HVAC units were new.By the time the sellers contacted me, the house had already been listed with two other agents for almost a year. It was clear to see the house was over-priced but it had another feature that was of concern to me.The house was almost 4,000 square feet and three levels. It was clear this home would be purchased by a growing family. However, the floor plan was a very traditional 1980's plan. In other words, it did NOT have an open floor plan. At a time whe...
Comments 11
By The Brewer Team - Benchmark Realty
(Benchmark Realty)
Homes for sale in Fieldstone Farms and July market report 15 Fieldstone Farms homes sold during the month of June with on 12 currently listed and not already under contract. As usual, the neighborhood is in a hot sellers market this summer, and buyers are having to pay premium prices to make a purchase. 15 Fieldstone Farms homes sold in month of June 12 Fieldstone Farms homes are currently listed in the Nashville MLS and available for purchase The absorption rate for Fieldstone Farms homes based on June sales is 1 month the average price of homes sold was $404,860, compared to $355,642 for the same month last year an increase of 13.8% the average size of homes sold was 2834 square feet 15 homes are currently under contract the list price to sales price ratio was 99% Fieldstone Farms is ...
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By Larry Brewer - Benchmark Realty llc
(Benchmark Realty LLc)
Franklin Tn homes - July 2015 market update - 267 Franklin Tn homes closed during the month of June compared to 263 for the same month last year. The median price of homes sold in Franklin during the month was $460.000 compared to $412,500 in June of 2014, an increase of 11.5%. The absorption rate based on June sales and the current inventory is 2.8 months, and the median days on market for sold homes is 47 days. the median list price to sales price ratio for Franklin TN homes was 99% 348 Franklin TN homes are pending at this time 755 Franklin TN homes are currently listed in the Nashville MLS as available for purchase, but many are already under contract the absorption rate based on June sales is 2.8 months 31 Franklin Tn condos sold during the month of June the average sales price of ...
Comments 0
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
A Tennessee Purchase and Sale Agreement is a legally binding contract for the sale of residential property. Within that contract are specific performance dates including loan application deadlines, home inspection deadlines, resolution of repair deadlines and closing deadlines. These are referred to as contract performance dates. You will often hear real estate agents say, "Time is of the essence." This is especially true when adhering to contract performance dates. When items are not performed by the specified date or deadline, there are consequences. Some consequences are more harsh than others. The worst being the contract becomes null and void.These performance dates have been created for a reason. They are not to be taken lightly. Real estate agents and their buyers and sellers mus...
Comments 7
By Tom White, Franklin Homes Realty LLC, Franklin TN
(Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com)
Franklin TN Condo and Townhome Market Trends --July 2015What's happening in the Franklin TN Condo and Townhome market? The best place to start is to look at a current market report. Let's see what happened in Franklin TN in June 2015.  Active condo/townhomes listings: 72 Of those units currently on the market, the number under contract: 14 Properties closed in June : 29 Average sales price: $278,072 Average list price: $283,065 Average sales price to list price ratio: 98.2% Average days on the market: 46 Average per SF sold price: $175.33 Lowest per SF sold price: $121.74 (Regency Square) Highest per SF sold price: $253.33 (Grant Park) To determine whether it's a buyer's or seller's market, REALTORS® use something called absorption rate. If you take the current inventory of 72 homes and...
Comments 13
By Larry Brewer - Benchmark Realty llc
(Benchmark Realty LLc)
Homes for sale in Fieldstone Farms and July market report 15 Fieldstone Farms homes sold during the month of June with on 12 currently listed and not already under contract. As usual, the neighborhood is in a hot sellers market this summer, and buyers are having to pay premium prices to make a purchase. 15 Fieldstone Farms homes sold in month of June 12 Fieldstone Farms homes are currently listed in the Nashville MLS and available for purchase The absorption rate for Fieldstone Farms homes based on June sales is 1 month the average price of homes sold was $404,860, compared to $355,642 for the same month last year an increase of 13.8% the average size of homes sold was 2834 square feet 15 homes are currently under contract the list price to sales price ratio was 99% Fieldstone Farms is ...
Comments 0
By Larry Brewer - Benchmark Realty llc
(Benchmark Realty LLc)
In December of last year I wrote a post titled Did you want windows, and it was about the process of purchasing a new construction home, and the one sided contract that builders want buyers to sign.Like I was saying then, the builder will make changes to the plan without the buyers approval, and the construction will be delayed for one reason or another, and the builders take no responsibility. If for any reason the buyer can't close when the builder is finally ready, they will keep your down payment and sell the home to someone else at a higher price.Now we are getting close to a finished product on the home in question. The builder did make some changes to the plan, and tried to sneak it past the buyer, but no, it didn't go unnoticed, and they had to do what they were contracted to do...
Comments 2
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
Monday, I spoke with a woman who was standing in front of a condo development. She had seen three condos online that were for sale and she wanted to get in to see them. I was sure these units were already under contract and upon checking the MLS, that suspicion was confirmed.She said she'd just seen them the day before online. How could they already be under contract?I explained that just because she'd seen them online, didn't mean they were still available. Move-in ready townhomes are selling quickly. It was best to call prior to making a trip to the development.I agreed to send her listings that were currently available. She was to review them and then we'd schedule an appointment later in the week. While at a final walk-through yesterday my phone rang. I never answer my phone when I'...
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By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
The other day I met with a couple who are looking to buy a Franklin TN home. They are moving into the area from a location just outside Williamson County. Some of these areas aren't performing as well as the Franklin market.We discussed the need to sell their home prior to buying another and scheduled a listing appointment for later this week.Last night, I received an email from them stating they wanted to see the comparable home sales in their neighborhood for the last two years. Home sales from two years ago aren't relevant. Housing markets go up and housing markets go down. What the housing market was doing two years ago isn't crucial to pricing your home today.Appraisers will only use data from the last six months. Many are most concerned about the sales within the last 90 days. The...
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By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
My husband and I don't watch much TV. However, every summer we pick a TV series that has completed its run and watch it. It's usually seven years of programming in one summer. It's our guilty pleasure.This summer, we chose Mad Men. For those of you who don't know the series, the show is about an advertising agency in the 1960's. We're really enjoying it.Today as I was reading the featured post, 9 Ways to Succeed in Real Estate, this TV series came to mind. Fred's post has some excellent points on how to succeed in real estate. Many of which I agree with. However, I disagreed with his very first statement: You are in Sales - know how to Sell.Consumers typically think of salesmen as people who are trying to sell them a product they don't want or don't need. That's NOT how we want them to ...
Comments 5
By The Brewer Team - Benchmark Realty
(Benchmark Realty)
Franklin Homes for sale and May 2015 market update - 181 Franklin homes closed during the month of April compared to 168 for the same month last year.. The median price of homes sold in Franklin during the month was $439,900 compared to $395,000 for April of 2014, an increase of 11%. The absorption rate based on April sales and the current inventory is 4 months, and the median days on market is only 49 days. A lot of Franklin TN homes are now getting multiple offers the first day on market, and a good buyers agent is critical to having a chance to compete for the better homes. the median list price to sales price ratio for Franklin Homes in April was 99% 324 Franklin homes are pending at this time 721 Franklin homes are currently listed in the Nashville MLS as available for purchase, bu...
Comments 1
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
Westhaven Pending Sale: 1349 Jewell Ave. Franklin TNWhen this seller completed a property valuation on our website, she stated she was looking for an AWESOME REALTOR®. I contacted her immediately and we scheduled an appointment to meet. As soon as we drove up to the house at 1349 Jewell Ave., Franklin, we knew this home was a winner. It had a prime corner lot location which is a rare commodity in Westhaven. As we walked in the door, it was clear this couple loved their home. Not only was it equisitely decorated but it was spotless. This 2,883 square foot home had what every Westhaven home buyer is looking for--style and function. Every inch was meticulously planned. There wasn't a wasted space in the house. The prime corner lot and three-car garage made this a desirable home.We signed t...
Comments 7
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
It's the summer months and you're trying to sell your house. You're also a pet owner and outdoor temperatures are too high to leave Fido in the yard. As a cat owner, you're worried an agent showing your house will let Muffy out and then you'll never see her again. As a dog owner myself, I understand your dilemma.What are pet owners to do who are selling their Franklin TN home?Here are some tips:1.  The very best thing to do is ask someone else to care for your pets while your house is for sale. Some sellers will board their pets or ask a relative, neighbor or friend to care for them. Given our current market, it may only be a week or two and your house could be under contract. Once that happens, the showings will stop and you can bring your pets home.2.  Crate your pets when you leave y...
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By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
When I step into your home to give my listing presentation, I've done my homework. In many cases, I've looked at the past sales of your home and the listing photographs. I've looked at the current listings in your neighborhood and may have even previewed those homes. I want to know what has recently sold and for how much. Basically, I've seen your home before I ever step foot into it.From those past sales, I am able to get a good sense of what it takes to sell your house. You see, each home has a unique selling feature. Even if you live in a neighborhood with similar floorplans, I can find something that sets your home apart. I hone in on those attributes and run with them.This past weekend I listed a home in the Westhaven neighborhood of Franklin. There are approximately 1,200 homes in...
Comments 3
By Larry Brewer - Benchmark Realty llc
(Benchmark Realty LLc)
Franklin Tn Homes June 2015 market update - 206 Franklin Tn homes closed during the month of May compared to 180 for the same month last year, an increase of 15%. The median price of homes sold in Franklin during the month was $450,818 compared to $403,338 for May of 2014, an increase of 12%. The absorption rate based on May sales and the current inventory is 3.5 months, and the median days on market for sold homes is 47 days. A lot of Franklin TN homes are now getting multiple offers the first day on market, and a good buyers agent is critical to having a chance to compete for the better homes. the median list price to sales price ratio for Franklin Tn Homes in May was 100% 370 Franklin TN homes are pending at this time 725 Franklin TN homes are currently listed in the Nashville MLS as...
Comments 0
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
I received an email from a buyer this morning inquiring about five listings. Each inquiry had an address and then the words, "Is this house still available?".These homes were move-in ready. As a matter of fact, all five looked as if they were from a Homes & Gardens magazine. I chuckled as I looked at them because I knew before even checking our MLS that the homes were already under contract. Upon further investigation, I did find that all five homes had already sold. As a matter of fact, I learned that of the 70 homes available in Franklin priced between $250K to $350K that 41 of them were already under contract.There are only 731 homes currently listed at all price points in Franklin. This even includes new construction homes. I would guess that two-thirds of those homes are already un...
Comments 5
By Tom White, Franklin Homes Realty LLC, Franklin TN
(Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com)
Franklin TN Condo and Townhome Market Trends --June 2015What's happening in the Franklin TN Condo and Townhome market? Should I buy now or wait? Should I get my condo or townhome on the market right away or delay? All good questions about the Franklin TN Condo and Townhome market. The best place to start is to look at a current market report. Let's see what happened in Franklin TN in May 2015.  Active condo/townhomes listings: 73 Of those units currently on the market, the number under contract: 22 Properties closed in May : 29 Average sales price: $254,777 Average list price: $257,409 Average sales price to list price ratio: 98.9% Average days on the market: 48 Average per SF price: $167.37 Lowest per SF price: $110.14 (Residences at Southwind) Highest per SF price: $243.69 (Grant Park...
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