I loved this post and have said so many of the same things for so long now that I wanted to get this out there further! Well said and well done! In the Brentwood, Franklin and Nashville markets I sell in we are not experienceing "fire" sales ala Detroit! Yet, buyers expect to get a 2million dollar home for less than 1 million just because. Really? Is that reasonable? What say you?
Now is a great time to buy real estate. I was quoted 3.75% on a 7/1 ARM today (great if you are putting a lot down and plan to move in 5 years or less), and 30 year fixed are getting deliciously close to 5%. The high inventory and low prices are all in the buyer's favor. I see homes off 25-30% from their peak in some very nice areas, and even more in some parts. Sellers want to make a deal too, and I am seeing them do things they never would have done even 2 years ago: include furniture, help with closing costs, eating the difference in low appraisals, and even agree to significant repairs. All this points to a strong buyer's market.
Yet some buyers are frustrated. Why? Because all this talk in the media has them thinking that if they offer $400,000 on a gorgeous $500,000 home in a prime location that the seller will fall down and kiss their feet! Worse, when someone outbids them for that gorgeous, well appointed home in a prime location they are perplexed! Prices are down 50% in Shamokin! I should be able to get something in White Plains or Scarsdale for 25% off! Isn't a buyer's market a license to steal?
Of course it isn't. A buyer's market isn't a flea market. That $500,000 house was selling for $650,000 4 years ago. That's your discount. If I am your buyer agent, you might get it for $460,000 or $475,000. And the seller may throw in the deck furniture, the snow blower and the breakfront you liked. But a market, by its very definition, is not where theft occurs. It is only a good deal if the seller goes for it. And until we are able to hypnotize the seller, their agent, their lawyer and Uncle Vinny, you aren't gonna raid the neighborhood like an invading Visigoth.
Moreover, in those perplexing cases where you are outbid, you have to understand that if you adore a fantastic place that is aggressively priced, then someone else will probably love it too! Hot properties still have a larger audience. So happy househunting for you brave, smart people out there actually looking in earnest, and do remember that a buyer's market is distinct from a hold up.
J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. Reach Phil at (914) 723-8900. Search the MLS like an agent here. Read my short sale bog here. J. Philip Serves Briarcliff Manor, Ossining, the River Towns, Westchester County, and the bedroom counties of New York City.
This home was only on the market 4 days before a contract was offered and accpeted, this home in Fieldstone Farms in beautiful Franklin TN sold in less than 3 weeks from list to close and it sold at 98% of list price!
Condition and price are the reason and answer, Call me now to see how I can help you sell your home quickly too!
Incredible steal for some lucky home buyer! Walk in with hundreds of thousands of equity possible! Purchased for 2 million, short sale listed for 1.25 million! Short Sale contingent upon bank approval. 4 bed, 4.5 bath, this extraordinary home features 6750 sq. ft, an elevator, SMART HOUSE integrated systems, expansion room already roughed in on attic level and incredible theatre on terrace level with master up and down! Must see to believe the care and taste put into this masterpiece of a home! www.VanessaStalets.com for more info.
New Price $221,000! Move in ready! 1500 Sq Ft, 3 bed 2 bath with large bonus rm! New paint, carpet tile and more! New roof and AC! One of Franklin TN's most sought after neighborhoods, Fieldstone Farms! Great schools, close to shopping in Cool Springs, Green Hills, Brentwood and Downtown Nashville. Visit www.VanessaStalets.com for more information on this home.
Open House in Fieldstone Farms on Sunday 184 Clarendon Circle Franklin TN
Fieldstone Farms, Franklin - We invite everyone to visit our open house at 184 Clarendon Circle on November 8 from 2:00 PM to 4:00 PM.
Gorgeous home in Fieldstone Farms, one of Franklin TN's premiere neighborhoods! Tennis courts, walking trails, clubhouse are just some of the amenities available with membership. This 3 bed, 2.5 bath home is 2184 sq. ft and boasts new carpet, tile, paint, roof and HVAC and heat pump! Huge screened in back porch with dual ceiling fans make this one a keeper! Large fenced yard is the perfect oasis all for $259,850, a price that is tens of thousands lower than others in the same area. Priced to sell, this home won't last long! See www.VanessaStalets.com for details.
Gorgeous home in Fieldstone Farms, one of Franklin TN's premiere neighborhoods! Tennis courts, walking trails, clubhouse are just some of the amenities available with membership. This 3 bed, 2.5 bath home is 2184 sq. ft and boasts new carpet, tile, paint, roof and HVAC and heat pump! Huge screened in back porch with dual ceiling fans make this one a keeper! Large fenced yard is the perfect oasis all for $259,850, a price that is tens of thousands lower than others in the same area. Priced to sell, this home won't last long! See www.VanessaStalets.com for details.
184 Clarendon Circle For Sale in Fieldstone Farms,Franklin TN $ 259,850!
MOVE IN READY, QUICK CLOSE!
• 2,184 sq. ft., 3 bath, 3 bdrm 2 story - MLS® $259,850 - BEST DEAL ON THE BLOCK!
Fieldstone Farms, Franklin TN - LOWEST PRICE & BEST DEAL ON THE BLOCK! Move in Ready~All New Paint~All New Carpet/Tile Floors~New Roof~New HVAC~Open Kitchen/Den W/FP~ Large Bonus Rm~Front/Back Stairways~Gorgeous 19 X 17 Screened Porch in Back w/Ceiling Fans~ Huge Fenced Yard~ Priced to sell quickly! Other homes in this section priced far more! Room to improve and have great equity! Quick close is easy! Buyer/agent to verify tax, sq.ft and schools as well as any other pertinent info.
Vanessa Stalets, RE/MAX Elite Brentwood TN
Call 615-957-6333 for more information!
Your number one site for Brentwood TN Real Estate Information.Find market analysis, finance, Government actions and how they affect you, plus all the latest home listings for Brentwood TN, Nashville TN and Franklin TN. You will also find great home improvement ideas and tips!Email vstalets@realtracs.com
www.vanessastalets.com
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MLS® $259,850 - BEST DEAL ON THE BLOCK!
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