Recently closed for my buyers....A Quaint English Country Cottage in Oak Hill. The new owners are very excited about their future plans for their new home.
2100+ Sq Ft
3 Bedroom
2.5 Bath
1.66 Acres
contact me: briantsmith@realtracs.com or 615.975.0578
Well Maintained Condominium on top floor/end unit in park like setting. At a price that can't be beat. Safe neighborhood, close to all, quiet. Set far back into a wooded neighborhood but terrific interstate and main road access. Pool on premises. Ball Fields and Parks near by. Washer/Dryer Hookups. Owned/Occupied by two Graduate Students who took great care of their home.
Directions Downtown Nashville: From I-24 East exit Briley Pkwy West. Turns into Thompson Ln. Left on Selena Dr. into Kingwood Condos. Follow scenic drive to building J towards back of complex.
1043 Sq Ft Top Floor/End Unit
Beautifully Maintained Grounds
Great Natural Light
Master Bedroom has walk-in closet that leads to bath
Jack and Jill Style Bath with His and Hers seperate half baths
Spacious Living Room with Private Balcony
Cozy Kitchen with Pantry and Utility Closet
Berber Carpet
Serene Paint Scheme
Central Heat and Air
Pool
$150 Association Fee covers grounds maintenance, pool maintenance, water and trash removal
Offered by Prudential Woodmont Realty
5107 Maryland Way, Suite 100
Brentwood, TN 37027
615-661-7800
Brian Thomas Smith
Affiliate Broker
615-975-0578
Anthony Longo, recently as a guest contributor to an Inman piece called 6 percent is dead wrote the following...
"But looking at it in reverse, as a buyer, the buyer's agent makes LESS commission for negotiating the lowest possible price for you. This is not in line. It doesn't make much sense. Actually, it does not make sense at all.
It is completely backwards, in my opinion. If you want to pay a buyer's agent on a percentage-based commission, a reverse algorithm would be most warranted for them to work their tail off to get you the lowest possible price, right? The way it exists now is that a buyer's agent makes less money when they do a BETTER job at negotiating for you."
That could possibly be one of the most black and white statements I have ever read. We're talking about very little difference in commission amount. It also depends on what price range we are talking about here but even so it's all relative. If your the kind of agent that will worry about a couple hundred dollars in commission you don't deserve to have a license. Maybe it's a few thousand dollars on a multi-million dollar deal. If you stand to make $50K in commission and you're going to worry about 3 or 4 grand...you'll be found out for what you are.
He also neglected to mention that many buyer's agents have lowered their commissions in order to help an offer look more appealing or to get a deal done that would otherwise have fallen apart. I can't think of one time a listing agent I was working in conjunction with was willing to lower their commission to help their seller.
Fee based real estate services are going to cause problems. Problem #1 - Quality of service will decline.
If you have an opinion please post it. Don't be afraid to disagree with me...
Nashville has some great attractions and of course the moniker Music City sort of makes it easy for those outside of Nashville to know what the attractions are. What most don't know is that Nashville has some advantages that other cities do not, advantages for retirees specifically. Did you know that as a senior citizen, if your income level is under a certain amount you may be able to freeze the property tax due on your primary residence? It's true. In 2007 the income cut off was $35,390. Yes, interesting to say the least.
This does not mean as a senior citizen you do not pay property taxes at all. It means that you will not be subject to increases in your property tax due to reassessments.
In addition the state of Tennesee does not tax your earned income only dividends and interest. This has its advantages and disadvantages but I will save that for a future blog.
In a supplement to the Tennessean, Davidson A.M., we see more news about development in the 12th South District of Nashville. Metro Planning has approved a rezoning proposal for 15 new homes at the 2500 block of 9th Ave South. These homes will range from 1,300 to 1,500 sq ft in size and will be priced from $310,000 to $349,000. These new units are to share a common open green space. The developer, Kelvin Pennington, is planning to name the new community Cottage Grove. The homes will conform to a historic design and style says Pennington.
Many that attended the Metro Planning Commission Meeting have voiced there opinions about the new proposal. Most of the concerns were traffic and parking related. Some were concerned about the density of the project. On street parking is currently restricted on this street. Jonathan Honeycutt (Metro Public Works) mentioned shifting the street to allow for on street parking. On the other hand a few local residents stated they felt the project would increase neighborhood property values. Yes...a good thing.
Kelvin Pennington (developer) plans to begin construction this summer pending Metro Council's final approval. According to him Cottage Grove should take less than two years to complete.
If you live in the 12th South District please feel free to comment on this blog or you can even email me directly.
I love the 12th South District. Lots of cool new shops, restaurants, and coffee houses have cropped up over the past few years. Not to mention the beautiful homes that have either been renovated or built new from the ground up.
Recently in the Davidson A.M. newspaper I read an article which talked about future plans for the corner of 12th and Paris. Apparently a mixed-use project will be underway which will house 25 residents, 3 small offices and 4 retail units. This new development will replace the current Southern Market and a used car lot. The new development will be called 12th & Paris...how clever. The new build out will contain flats and townhouses that will list between about $175,000 and $290,000. Not a bad price point considering the current average price in the area; but we will see how many square feet these new units turn out to be.
In the hood, most people know the hip coffee shop Frothy Monkey. I personally prefer Portland Brew but I'll leave the details as of why out of this. The owner of Frothy Monkey, Miranda Whitcomb-Pontes (don't know her personally) is considering a new venture which would include her taking part in the 12th & Paris development. Her new creation is Burger Up. This new establishment will of course feature what else but burgers. All kinds of burgers from veggie and vegan to turkey. The new place will also boast a full bar and include seating for at least 75 patrons.
The opening of Burger Up and probably other retailers in the proposed development, is slated for February 2010. Other planned businesses are an art gallery, photo gallery, counseling firms, architecture firm, and an accounting office.
Personally I'm looking forward to growth in the 12th South Neighborhood. I really dig the area and it's whole vibe. It certainly could use a little more and I believe the new 12th & Paris plans will bring to the community a much needed booster shot.
I started my real estate career in 2004. I got in when the market was hot and now things are a bit tougher; but a challenge I can always meet. When starting as a Realtor in Nashville back in 04' I went to Crye Leike. It seemed like the best place to start. Big name, big company with lots of opportunities to learn. Yet no one takes you by the hand in this business. I learned that lesson early on in my career. I am a self starter so real estate has always been fairly easy for me. Especially because I am a problem solver. Believe me lots of problems can arise during a real estate transaction. Various pieces of the puzzle need to be gently put in place and on occasion they need a little muscle to fit correctly. My approach has always been that of service. Service above all other skills is my strongest. That is what I bring to the table, fierce dedication, a no worry transaction, great people skills and an eye for detail. Not to mention some great relationships with many vendors in the industry.
Okay so moving on...enough about my great prowess as a Realtor. After about a year in the business I transitioned over to The Realty Association. TRA was a great place to hang my license. Incredible brokers and a staff that was second to none. They offered a great split and the brokers were available always. Perry would call me back in 10 minutes even on a Sunday afternoon if I had a question. His help was invaluable. TRA also offered great training of which I took advantage quickly. As a Realtor, continual training and education is a must. New technologies are always presenting themselves so you have to stay on the cusp.
Last summer I was at a Prudential Woodmont Realty company party with a friend that was an agent there. I met quite a few interesting people. One in particular that stood out to me was Jim Owens. Jim is part owner of Prudential Woodmont Realty in Brentwood Tennessee and he is also an agent. We talked about his business and the opportunities that are available at Prudential. It sounded appealing but at the time I was having a successful summer here in Nashville selling houses at my current brokerage firm. Things were better than ever, the money was good and my clients were happy. As the fall of 2008 started to taper off and the market started it's "down turn " I began to think about the things that Jim said to me at that Prudential Woodmont Realty summer party. I also started to assess my role in the industry. There was more to learn and more opportunity to grow. I would always have the skills that got me started in real estate and got me to where I was but I wanted more.
I am proud to say...Brian Thomas Smith is now a Realtor that hangs his license at Prudential Woodmont Realty in Brentwood TN. It's a great place with great people and that's who I like to surround myself with.
There has been much talk about how this "down turn" in the market will cause many Realtors to leave the business. ("down turn" may be too subtle a word)
Not to mention how many brokerages will as well. How will this effect those that are planning to stay in the business? How will it effect the different business models currently in place? I'm surely not the first person to bring this topic up nor will I be the last. However, I have some thoughts on the subject as I'm sure many of you do.
Of course a large number of agents and companies will bail. Some out of fear and some out of necessity. Both are valid reasons for perpetuating change. I have seen many in Nashville go by the wayside. How can an agent or company survive if there are no sales? They can't. They must leave the business or dig deeper, work harder or better yet, smarter. I won't waste everyone's time by stating how to do this. There's tons of information out there on this site as well as others to help today's agent improve their business. Obviously many don't feel that they even have the option to stay aboard. The proof is out there. If you are following the subject or talking with other agents and brokers the writing is on the wall. Agent renewals are down, offices are closing and some firms are changing their business models or even expanding upon the one they have. A trend that has been coming for years is the "virtual real estate company". Another is the "pay per service company". Then of course you have the "standard full service brokerages". As a real estate agent in Nashville, TN, this is where I am and this is where I plan to stay. At least for now. While I can appreciate the fact that not all customers and clients want a "full service agent", I do believe you get what you pay for. We have all seen this play out before in other markets. Let me display a simple example here. How many of us have been in a store and decided to purchase the "cheaper version" of a product that produced poor results or didn't even suffice for the purpose it was puchased? I know I have quite a few times. You always say to yourself..."Geez I should have paid the extra X bucks for the good one"..."now I've got to go back to store and buy the one I should have in first place". Am I not right here? It's true a lot of the time. Now I am not saying that there is no place for different business models in the real estate industry. I am saying simply, you get what you pay for. At least with me and I'm sure that holds true for most hard working Realtors. Sure there may come a time when getting in your car, picking up your client and walking them through fifty houses is just not how it works anymore; but I don't think that time is now. I believe most people need that human connection when buying or selling a house. That personal touch and guidance that a good honest present Realtor can only provide. I'm not here to make the arguement that this style of business MUST stay but I am saying that I don't think the time is now. Perhaps it will be in ten years or fifteen years, maybe longer...maybe never? People need people. That's part of being human.
Many agents have dropped their licenses. It's a personal choice those individuals have to make. It could be an easy choice or a hard choice for them. However I do believe that if you're just in it for the money then your heart is in the wrong place. I'm not going to go on and on about how my motives are so pure. Of course I want to make money. I want to make a lot of money but if that's your only motivation then real estate is not for you. That's how I feel. Some agents that have decided to leave the business may have their hearts in the right place. It will be a shame to lose those individuals to this tough market but it is a business and business is not for those who can't ride out the hard times. It's a grind. We all know that. Should we make licensure requirements more thorough? Maybe. What about requiring companies to provide state mandated training beyond what is in place now? We could do that and it might help; but again we are back to the idea that world of business is not an easy place. The strong survive. This is a capitalist nation. Too many regulations could threaten that system. Some regulations may strengthen it. It's a tough call either way. My feelings on the subject tend to be in the middle, leaning to the idealism that individuals need to be held accountable for themselves. Surely change will come and it will come in many forms. What they will be I can't say.
I'd like to know what you think will happen. Please leave your comments and tell us your feelings on the current state of the industry.
Nashville certainly has some great neighborhoods. As they say, "it's all about location". Buyers and Sellers need to be abreast of recent trends more and more to make smart decisions. Especially while the market is so volatile. This short blog may help assist those who are looking to buy or sell.
Below are some of the most popular neighborhoods and their average list prices. In addition there are those that have seen quite a bit of fluctuation in list price.
Data below was gathered from Trulia.com.
Most popular neighborhoods - Avg. listing price and percent change week over week Week ending Dec 17
Neighborhood
Avg List Price
% of change wow
Green Hills
$588,795.00
Down 5.2%
Inglewood
$173,578.00
Down 1.6%
Sylvan Park
$311,438.00
Down 2.5%
West Meade
$663,948.00
Down 0.5%
Lockeland Springs
$316,854.00
Up 0.6%
Movers & Shakers - Avg. listing price and percent change week over week Week ending Dec 17
Below are the month of November to December 28th closings for the 12th South/Belmont Area, also referred to as Waverly/Belmont. This area is between Wedgewood Ave on the north and I440 on the south...between Belmont Blvd and 8th Ave.
1816 Hillside Ave
$185,000
1715 Villa Place
$190,000
1402 Aklen Ave
$280,000
2911 10th Ave S
$263,000
2408 9th Ave S
$270,000
922 Bradford Ave
$90,000
1212 Linden Ave
$410,000
927 Aklen Ave
$430,000
820 Clayton Ave
$495,000
1003 Montrose Ave
$629,656
2516 Belmont Blvd
$635,000
The average price per square foot is $152.48 based on sale price. The house on Bradford Ave originally listed at $288,000 was on the market for 251 days. It looks to have been bought by a family member at a discounted sale price. I am not including this home in my calculation as it would skew the results in my opinion.
Click Here for Brian's Nashville Real Estate Blog
contact me: briantsmith@realtracs.com or 615.975.0578
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
I started my real estate career in 2004. I got in when the market was hot and now things are a bit tougher; but a challenge I can always meet. When starting as a Realtor in Nashville back in 04' I went to Crye Leike. It seemed like the best place to start. Big name, big company with lots of opportunities to learn. Yet no one takes you by the hand in this business. I learned that lesson early on in my career. I am a self starter so real estate has always been fairly easy for me. Especially because I am a problem solver. Believe me lots of problems can arise during a real estate transaction. Various pieces of the puzzle need to be gently put in place and on occasion they need a little muscle to fit correctly. My approach has always been that of service. Service above all other skills is my strongest. That is what I bring to the table, fierce dedication, a no worry transaction, great people skills and an eye for detail. Not to mention some great relationships with many vendors in the industry.
There has been much talk about how this "down turn" in the market will cause many Realtors to leave the business. ("down turn" may be too subtle a word)
Not to mention how many brokerages will as well. How will this effect those that are planning to stay in the business? How will it effect the different business models currently in place? I'm surely not the first person to bring this topic up nor will I be the last. However, I have some thoughts on the subject as I'm sure many of you do.
;)
;)
