There's not a lot of them listed these days. Why is that?

'Cause most of the owners just downright LOVE living in this amazing historic converted factory and wouldn't WANT to sell.

They've got

• the best farmer's market - The Nashville Farmer's Market
• the best hot dog shop - Zackie's Original Hot Dogs
• three of the best restaurants - Germantown Cafe, The Mad Platter, City House
• the best home cookin' - Monell's
• the best chocolate shop - The Cocoa Tree
• the best coffee shop - Drink Haus
• the best dry cleaners  - Germantown Cleaners
• and, let's not forget...THE BEST CUPCAKES - Cupcake Collection

just steps from their entrance. And let's not forget what's inside those gates:

• 3 pet areas
• Nashville's only rooftop saltwater pool
• cabana outdoor kitchen
• three courtyards
• 2 public grills
• covered garage parking
• basement storage facilities

'Cause the developer is waiting to build phase V until the market settles down a bit. Not a smart idea to flood the market with 85 - 100 more lofts when so many buyers are still hesitant to buy a condo in downtown Nashville.

They're using the time while the market does recover to build 12 rental units just next door on Taylor street. Oh, and they're building one more little thing that just rounds out the neighborhood perfectly...A LOCAL TAPROOM!!!

Yep, you read right, a small tap room and restaurant to complete the area dining experience with a long awaited local, casual hangout. YAY developer!

'Cause the owners who might have sold have kept their places and are renting them out instead. Since prices are just bouncing back to their 2006 levels, why lose equity? Rents are healthy and there are no shortage of renters who LOVE loft living.

Maybe they're taking a cue from the aforementioned and admired local developer, who is smart enough to know that once renters get into this neighborhood, they, too will fall in love with the area and eventually want to buy here.

SO What's the point? You ask. Well. the point is - there IS one loft for sale in Werthan that you won't want to miss. Check out MLS 1312629 - Penthouse 430.

It's three bedrooms (or 2 + office) with a huge, open entertaining space that empties onto an 1800 square foot rooftop deck. It's got that great brick that Werthan is famous for in the entry gallery, bamboo floors, walls of insulated sliding glass doors in the main living/dining/kitchen area and master bedroom and air rights for vertical expansion space that has endless possibilities.  And while you do check out this loft - remember this:

The short sale pricing is remarkable. And the agent is a short sale specialist who makes the sale and dealing with the bank quick and easy as possible.

Want a private tour of the lofts and the neighborhood from a Realtor who's lived in Werthan Lofts since 2006? We actually are the sellers of this space! Call the bozTEAM at 615.715.0545. We're always happy to show off the area to either Realtors or clients.

This blog post might go in the category of, "Things you should have known sooner;" since today IS the 4th of July and it's not likely you'll be able to buy the house in time to see fireworks tonight.

However, in the holiday spirit, the bozTEAM felt we should clue you in on one listing where, if you lived there already, you's have THE BEST fireworks views:

1400 Rosa L Parks #312 is a large loft in the Lofts at Werthan Mills. This Germantown location sits atop a hill overlooking the State Capitol. It's the highest, closest point to downtown in the area. and this loft happens to be on an upper floor with a wall of windows overlooking downtown (and, consequently, the fireworks).

The windows have unique architectural storm windows, which are mounted on the inside. That's lucky on a cooler night, when you might want to remove them and feel the breezes (or hear the fireworks more clearly).

If you feel like gathering lots of people, the wide open living room is a great place OR you can cruise down the hall and up one flight of stairs to the Werthan Rooftop deck.

It's too late this year, but if you want to be in the prime location for next year's fireworks, come check out Werthan Unit 312. At $324,545, it's one of the cheapest permanent seats for the show close to downtown. And, since the downstairs can be a separate apartment, a smart shopper can even secure a renter and offset a considerable amount of the mortgage expense.

Call Kimble Bosworth at 615.715.0545 to schedule a showing.

...if you think that market price for your home listing = the amount you still owe + Realtor commission + a little extra for the down payment on your new place.

...if you want to list your house a 'little high' to leave wiggle room for the low offers.

...if you think an open house every weekend and advertising in every print publication in the tristate area will sell your house.

...if the first words you plan to say in  listing meeting are, "well the house down the street sold for (insert dollar amount here)"

...and those words are not immediately followed by, "...last last month - and it's the exact same floor plan and condition as mine..."

Ok, get another Realtor is a little harsh, maybe. But my point is this:

Select a Realtor because:

1. She/He is a professional, with ethics, continuing education and resources.
2. She/He is  person you trust to advise you on market conditions, determining list price, staging, marketing techniques.
3. She/He provides research and analysis to back up those recommendations.
4. She/He is not just telling you what you want to hear.

Now, a few more harsh words:

If you are a surgeon/auto technician/accountant/teacher/(insert profession here), I promise NOT to tell you how to operate/auto repair/prepare taxes/educate our youth/(insert service here). Please trust me to help you sell/find your place.

This market is no longer a happy, pretty place with rainbows and roses (with no bugs on the leaves). I've probably got some bad news for you. And you're gonna hear it, 'cause it's important to know. So here's a little sampler:

• My picture on a business card/billboard/shopping cart will NOT sell your house. That will take us working as a team to price it right, stage it right and market it to the right target market.
  
• There are only three things that affect the sale of your home: Location, Condition and Price. 
• These days "They can see past it" are THE MOST DESTRUCTIVE WORDS you can say.

So, if you're not ready to really listen to professional, informed and backed-by-research recommendations for how to get through this not-so-comfortable buyer's market with your dignity and your house sold in the shortest time possible for the most money possible through hard work on all our parts...

GET ANOTHER REALTOR.

So, there are these homeowners who got curious last weekend about houses - even though they were perfectly happy in their Sylvan Park starter home, which they spent the past 4 years updating and expanding. They went to an open house on a whim and fell head over heels for the potential, new place. There's just one problem. They still own their current home and had planned to list several months from now.

Fast forward and here we are - home cleaned and prepped for showings, prequalification in order, and all they need now is a buyer for their current, fabulous home. 

Their impulse decision could be your gain! Have you looked at every home in Sylvan Park and just not found the right one? Well you might not be too late for a great deal at $249,545.  The 1100+ square feet of this home does not even include the lareg screened porch or huge 'barn with electricity.

Sit and enjoy the quiet neighborhood from the covered front porch than spans the front of the home. Or, in colder weather, cozy up by the gas fireplace in the open living/dining/kitchen area.

Entertaining? It's easy for crowds to spill out into the new screened porch or the fenced back yard with an additional patio for a firepit.

The massive storage building will thrill the musician or hobbyist in the family - it can easily be used as a music room or workshop.

Recent upgrades include completely new kitchen, utility room, 12'x5' pantry that currently doubles as an office, HVAC and more...

Because there is a baby in residence, the sellers request 2 hour showing notification.

Although the Lofts at Werthan Mills have weathered the real estate storm pretty well; these relocating home sellers are eager to sell and have prices accordingly! At $399,545, this 2570 square foot condo is a steal. Unit 112 was one of the first and largest lofts to be built in Werthan - a true urban, gated community that features one of Nashville's only rooftop green spaces, complete with salt water pool and bocce courts.

Just because there's a bargain price, doesn't mean the owners skimped on any details in this huge space. Their upgrades include a 1046 square foot master retreat - with:

19' x 12' master bedroom
2 walk in closets

Master bath with spa tub,
separate shower & double
vanities

25' x 16' sitting room/den
Built in bookcases
2 additional storage areas

The upstairs is just as spectacular - with a 25 foot, covered outdoor area for entertaining, a large open living, dining and kitchen, guest 'master' and a third full bath.

Call the bozTEAM today to schedule a showing of this wonderful home.

bozTEAM of village real estateSERVICES
615 WOODLAND ST | NASHVILLE | TN | 37206
o: 615.369.3278 | c: 615.715.0545
www.AreYouReadyNashville.com

Many new buyers are learning about a loft enclave in Germantown that is unlike most in Nashville. Some say Werthan Lofts could be right at home in New York or Chicago! It's part of the appeal for over 200 residents in this converted factory that still looks like an industrial complex as you drive by on Rosa Parks Blvd.

For the past 2 years, throughout a real estate slump, sales in Werthan have remained strong - perhaps as a result of the architectural originality OR the affordability OR the convenient, walkable neighborhood OR the spectacular pool and outdoor areas throughout the gated community OR the rare opportunity for expansion space in condo living (Werthan is one of only a handful of condos where owners of certain units can expand into basement space, upward, or by adding lofted mezzanines in the interior spaces). Whatever the reasons, Werthan lofts have closed 111 sales since June of 2007. With Phase 4 construction complete and the development down to 12 units on the market; there is still something for everyone.

Prices range from $184,000 - $475,000. Sizes range from 743 square feet to almost 2600 square feet. Here are some highlights of two available units:

Unit 112 is one of the largest spaces in the community. At $429,545 this 2576 square foot unit is one of the smallest prices per square foot. And those numbers don't take into account the most spectacular part of this space - the huge covered deck that was once a factory loading dock. The current residents spend as much time in the outdoor areas as they do inside!

Both bedrooms in the space have a private full bath. The master retreat also features a sitting room that's almost the same size as the living room and two large closets - a hot commodity in any loft.

There's a third full bath off the open living, dining and kitchen area. The entire main level is built for entertaining with large wall spaces for a gallery of art, extra cabinets and storage, room for a bar and so much more.

For the more frugal buyer, there's another Werthan gem on the upper level of phase 3. At 1330 square feet, unit 317 is a real surprise for $292,545. It, too has an outdoor space - a balcony overlooking the Hydrangea garden of the East Courtyard. The master suite here is a mix of modern - with a wall of industrial windows and vaulted ceilings that allow enough space for a mezzanine expansion. The open living room has those bricks and beams the old factory is known for - so does the second bedroom (currently used as a media room).

So, whether you're looking for large or small spaces - modern or filled with restored factory charm - Werthan Lofts really does have something for everyone! Call the bozTEAM of Village Real Estate to get your piece of history today.

A recent bozTEAM blog pointed to signs of change in Germantown. There was more evidence this week in East Nashville!

Over the past year, selecting houses for our Thursday Preview Tour of Homes has been REALLY difficult. It starts Wednesday AM with bozTEAM agents sifting through hundreds of homes on an report, trying to find 10 - 20 great candidates for the tour.

Yesterday, armed with this week's theme of '1st Time Buyer Homes Under $175,000 in East Nashville & Inglewood, 2BR/2BA'; I was sure to be in for a LOT of narrowing to get the initial sort under 250 homes.

NOPE! The initial, wide range search only found 53 homes! I did a doubletake. WHA..WHATTTT?????

53 HOMES! What could be happening here?

Then I started the daunting process of softing through those 53 homes to find suitable candidates for the tour. These had to be the best and brightest! Our current buyer needs (oversimplified for the sake of blogging, of course):

BUYER 1: Move in ready. Kitchen is MOST important. Social space is also key. Likes hardwoods. Doesn't require fenced yard, but it is a plus. Large rooms or open spaces. Over 1000 s.f. would be GREAT - but it's also ok if it just 'feels' large.

BUYER 2: Investment property to be used as rental with 2 or more units. Large yard. Future possibility to combine into buyer's personal single family home. Prefers ranch style with finished basement and 'Needs TLC'. Expansion space possibilities would be great, too.

BUYER 3: Almost the same as BUYER 1 but under $120,000 and space for music room...

You get the idea...lots of different needs usually means LOTS of previewing. After sort #2, the preview list for Buyers 1 and 3 was down to 9 listings. THIS IS TOO EASY!

What does it all mean?

1. Inventory is down. Either things are selling OR things are renting and no longer listed. Either way, it's a good thing.
2. There is more competition out there. Many of the listings already had contingencies. Haven't seen as many of those lately. We'll still preview 'cause you never know what can happen with financing. Many of the buyers we're working with are happy to be the backup offer.
3. The preview day won't be nearly as frenzied as it usually is. We can get to those 9 listings in less than 2 hours and have great video clips and pics text messaged to those buyers to help them narrow down our Weekend Buyer Tours in no time.

So, look out East Nashville, the bozTEAM is coming! Are you ready?

Unfortunately, the bozTEAM has had a lot of experience with short sales over the past year. You may have seen a few of our blog posts that deal with the actual process. This one does not.

This post deals with the psychology of a short sale. It's hard enough to put together a successful (and quick) short sale without considering the emotional state of the Seller. The Buyer and Buyer's real estate agents can help quite a bit if they understand some of the feelings 'baggage' that comes with this process.

The Buyer, for the most part, has the easy part of the transaction. Oversimplified: the Buyer submits the 'short' price to the Seller - a price that is LESS than the amount the Seller owes the bank. The burden is on the Seller and Seller's Agent (or Mediator) to negotiate that 'short' price with the bank.

Here's where the psychology comes in. It's not like that shortage just evaporates! Something has to happen to that money. Either the bank agrees to write it off; (Yeah, right! That RARELY happens) OR the Seller:

1. ...takes out a LOAN to pay the difference (or some portion of it) back to the bank.This is usually an unsecured loan because the bank is feeling very generous and is kind enough to extend some pretty flexible terms to that Seller so they can make their money back. These loans can be low interest rates, interest only for some period of time until the Seller gets 'back on their feet' after the financial crisis that caused the short sale in the first place...Sometimes the loans are really long time frames. Either the low interest or the long time frame are supposed to ease that burden to the Seller.
2. ...refuses or just CAN'T take out a loan. The bank sues for the difference.This is likely to end up in some judgment against the Seller and, ultimately in bankruptcy or some form of debt management program. In either event, there will be years of financial consequences for the Seller.

I could go on and on about these options, but you should start to get the idea by now. The Buyer is most likely getting a really good deal on this house. They are excited. They feel like they have had some small victory in this tough real estate market and are going to come out WINNERS. But it's important to have some humility in the face of that victory. Keep in mind how that Seller must feel.

The Seller is going to be paying for that victory, either literally with loan payments for years, or with the impact on their credit rating. The Seller may also feel like they are 'giving' their home away.

This is real stuff. And here are some real examples of how a few short sale Sellers we work with have been emotionally impacted:

Case 1: The Seller - a builder - was selling a personal, custom-built dream home for $200,000 less than the amount owed to the bank. This sale resulted in the loss of the dream home AND the loss of a career as a builder. The bank wouldn't write off the difference and the result would be Bankruptcy for the Seller.

In this example, the Buyer was very aware of this and made the sale go very smoothly. The Seller was extremely grateful for the compassion during this stormy period of financial distress.

Case 2: The Sellers had passionately restored a home to resell for almost a year. The home was selling for $400,000 less than appraisal and $150,000 less than their loan. The bank was arranging a loan for the Sellers to pay off that difference.

In this example, the Buyers came by the house unannounced almost daily the week before the sale. Their agent was not even aware they were 'stopping in'. They directly asked the home's residents if they would mind leaving wine racks and shelving. When they called and asked the Agent (and then, the Seller directly), where an optional glass insert in the $2000 range hood was; they almost killed the deal. Whether the Buyers intended or not, the implication was that the glass (which was omitted by the designer for aesthetic reasons) was removed from the home by the Sellers.

It was all I could do as an agent involved in the transaction not to take these Buyers and their Agent and shake them! Happily, there was no assault. The Sellers completed the transaction and moved on.

I only hope that, if you are fortunate enough to buy or work with buyers of a short sale, that you will not be so short-sighted as case 2 Buyers were. Consider the feelings of loss, the financial distress and the emotional toll that these changes in the Sellers' lives are causing and be gentle in how you deal with them directly during the process. You might just get the home of your dreams, even though the Seller might be giving theirs up.

Started years ago by the locals, the Garden guzzle is billed as 'Historic Germantown's Signature Event' and it's just one more reason the neighborhood residents find their area so desirable.

This year's Guzzle starts at Monell's lovely cottage garden and features an appetizer selection from this, one of the neighborhood's most popular restaurants.

Guzzle-Goers will stroll from there to The Mad Platter Herb Garden, following the movable refreshment stand (actually a BOAT!) from one location to the next.

So grab your shades and dress in your finest garden party attire and join us for this tour of 9 lovely commercial and residential gardens throughout this celebrated urban neighborhood. The tour culminates in an organic garden with a feast of local favorite foods, cool drinks and live music on the 1400 block of 4th Avenue.

Cheers, Y'all.