Signs of Real Estate Change in East Nashville

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Services for Real Estate Pros with Proforma Printelligence

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?

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Rainer
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Syvel Lowery
Mount Juliet, TN

Hey I like your blog. Its good. Ive been with AR, over a year now I'm starting to blog. Lets do some business together. Also when ever you have time can I invite you to my Radio Show as a Guest. email back @ slowery@drofmortgages.com

 

Also Kimble I'm doing & closing loans with 530 middle credit scores...Check out my blog, and my twitter.com/syvel / For more leads.

Jun 19, 2009 03:19 PM #1
Rainmaker
112,529
Robert Dirienzo
HABITEC Home and Building Inspections, LLC - Franklin, TN
Home Inspections - Nashville TN

Hello Kimble,

That's great news!  HABITEC has completed many home inspections in East Nashville and we can see why business is picking up there.  What a great location.  HABITEC is pleased to say we had a great summer and we're also seeing carryover into the fall!  Things have truly taken a turn for the better and we anticipate a great 2010!

Thank You,

Richard Acree

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Comments in this blog posting are the copyrighted intellectual property of Richard Acree, President, HABITEC Home and Building Inspections, LLC, and contributing members of the Active Rain Real Estate network, and are intended to educate and otherwise assist home owners, sellers and buyers, building owners, sellers and buyers, realtors, real estate investors, property managers, and lenders in the process of owning, buying or selling homes or commercial buildings.  HABITEC is a residential (home) and commercial building inspection company serving Middle Tennessee including Nashville, Brentwood, Franklin, Murfreesboro, Smyrna, Mt. Juliet, Hendersonville, Dickson, Belle Meade, Columbia, Spring Hill and more!  In addition to building inspections HABITEC offers Environmental Services for mold assessments, radon testing and water quality analysis.  Additional information about HABITEC can be found on our website at www.habitecinspections.com, or call 615-376-2753. 

Richard Acree is the author of the HABITEC Home and Building Inspections Blog and founder of the ActiveRain Group Tennessee Home and Building Inspectors.  All are welcome to join and see more blogs like this one. 

 

Sep 26, 2009 01:46 PM #2
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Rainmaker
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Kimble Bosworth

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