Franklin, TN Real Estate News

By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
Last week, we listed the property located at 2718 Buckner Lane in Thompsons Station in Williamson County TN. This acreage is located within minutes of shopping and dining which is unusual for acreage property. It is also right down the street from all three of the public schools zoned for this home. In addition, it's priced extremely well. Needless to say, there has been a lot of interest. Everyone thinks they want to live on 5 acres. That is, until they actually see how large 5 acres is.The home is slightly bigger at 5.58 acres and the house sits high up on a hill. The acreage in back rolls away from the house. With nothing but a farmer's field behind it, the acreage looks expansive.A few of the buyers who thought they wanted acreage have asked, "What does one do with 5 acres in Willam...
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By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
Today, I received feedback on one of my listings. In the feedback, the buyer's agent asked a few questions about the property. She ended the feedback with "Is your Franklin home seller flexible on price?".First of all, we are the listing agents on this particular property. Our job is to represent the seller and his interests. we want to get the most money and the best terms for our sellers. That's what they hired us to do. We often hear this question from buyers but were surprised to hear it from a fellow agent.Secondly, when we list a home, we look very closely at the recent comparable home sales for the last 90 days. We preview other similar properties to provide sellers with our first-hand account of their competition. Sometimes we'll see properties that are nicer than theirs and oth...
Comments 4
By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
1349 Jewell Ave. Franklin TN 37064 in Westhaven SOLD!What does every home seller want when they contact a real estate company...a quick sale for the most amount of money. Well that's exactly what the sellers at 1349 Jewell Ave. Franklin TN 37064 in Westhaven got. This beautiful home sold within 5 days of listing for 99.6% of asking price. When we first listed this home at $565,000, it was priced $15,000 more than the most recent comparable but it had one very desirable feature--a corner lot. Having worked with several Westhaven buyers in the past, we knew this feature was the key to a successful marketing campaign.Even the photo shoot with our professional photographer, emphasized this attribute of the home. We used the phrase "DESIRABLE CORNER LOT" in all our marketing pieces. This foc...
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By Larry Brewer - Benchmark Realty llc
(Benchmark Realty LLc)
Franklin Tn Homes for sale and August 2015 market update - 240 Franklin Tn homes closed during the month of July compared to 261 for the same month in 2014, a reduction of 9% year over year, mostly caused by a shortage of available homes. The median price Franklin homes sold during the month was $443,786 compared to $406,915 for June of 2014, an increase of 9%. The absorption rate based on July sales and the current inventory is 3 months, and the median days on market is only 47 days. Franklin homes are in a sellers market with many of the better homes 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 July was 100% 331 Franklin TN hom...
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By Tammie White, Broker, Franklin TN Homes for Sale
(Franklin Homes Realty LLC)
This morning I received a property valuation request from a home seller in Franklin. There was only one problem. When I went to research her home, I learned that she listed her house with another agent eleven days ago. I'm not sure why she reached out to us AFTER she listed. Maybe she thought we would be the agency to bring a buyer but she shouldn't be contacting other agents at all. Any correspondence should be coming from her listing agent, not her directly. My point--the time to contact Franklin Homes Realty LLC is prior to listing your home, not after.Once you are listed with another brokerage, I can't help you. Obviously, if I have a buyer looking for a home like yours, I will definitely show it. Other than that, I can't do anything to assist you in the marketing of your home. That...
Comments 4
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 --August 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 July 2015.  Active condo/townhomes listings: 68 Of those units currently on the market, the number under contract: 25 Properties closed in July : 21 Average sales price: $271,367 Average list price: $275,956 Average sales price to list price ratio: 98.3% Average days on the market: 43 Average per SF sold price: $156.32 Lowest per SF sold price: $96.38 (Andover) Highest per SF sold price: $250.32 (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 68 homes and divid...
Comments 10
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...
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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...
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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'...
Comments 10
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...
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