Franklin TN Home Buying: Heed Your Agent's Advice

By
Real Estate Broker/Owner with Franklin Homes Realty LLC

Franklin TN Home Buying: Heed Your Agent's AdviceThe Franklin TN housing market is hot, even in February. As a matter of fact, there are only 20 single-family homes in all of Franklin priced under $350,000. Three of those are new construction and won't be ready for several months. That leaves just 17 single-family homes in Franklin TN priced under $350,000 for immediate occupancy. Unbelievable, really.

When a listing comes on the market and it's in great condition, it's probably going to sell. Even if, the buyer thinks it's priced a little high. It's called the law of supply and demand. Supply is low and demand is high which means properties may sell for more than their fair market value.

Let's face it, no one wants to pay more than a house is worth but if buyers want their offer to be competitive, they may need to be at asking price or above. That's very difficult for buyers to understand. Especially, those buyers who may be moving here from another area. They may not be seeing this same activity in their housing market. It's in times like these that buyers really need to heed the advice of their agents. We know the market and can usually predict with a lot of certainty those properties that will sell quickly.

I'm probably viewing 25-30 homes a week. After I show them, I track how quickly they go under contract. I know what will sell and what won't. For example, last week I showed a house that was priced high for its condition. However, it was in a very desirable neighborhood. I told the buyers that I thought the house would be under contract within a day. Sure enough, it was. Even though, it needed some work.

That's the reality of our market. I don't like to be the bearer of bad news but I don't create the market, I only interpret it. Our inventory is extremely limited. Buyers are waiting for the right house to come on the market. When it does, they don't dilly dally around. They submit strong offers to win the bid.

Franklin TN Home Buying: Heed Your Agent's AdviceIf you are a Franklin TN home buyer, it's important to put your preconceived notions of our housing market aside. Instead, listen carefully to the advice your buyer's agent provides and act quickly. If not, you may never be able to find a home.

Looking to buy a Franklin TN home? Call Franklin Homes Realty LLC at (615) 495-0752.

Posted by
Tammie White, Managing Broker/Owner
CLHMS, CRS, GRI, SFR
Franklin Homes Realty LLC
Franklin, TN
(615) 495-0752 
GET REAL. GET LOCAL.
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Franklin Homes Realty LLC. Any party who uses this material without the written permission of Tammie White is subject to copyright infringement and possible lawsuit.
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Tammie White What a nice Call to Action for those Buyers in Franklin, TN area. With such a low inventory available, buyers need to understand just how HOT the market is there.  I know they'll be in great hands with you as their agent.

Feb 06, 2016 04:29 AM #1
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Anna Banana Kruchten CRB, GRI, WLS
Phoenix Property Shoppe - Phoenix, AZ
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Tammie buyers would be very wise to heed your advice - you are the Franklin TN real estate expert that REALLY knows the market.

Feb 06, 2016 05:02 AM #2
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Tammy, that's pretty tight inventory, and buyers have to be pretty aggressive when they find a home they want.

Feb 06, 2016 05:20 AM #3
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Tammy, what you are writing about is "The Talk About The Facts Of Life" I have been having with buyers for over two years now, as we've been a seller's market for at least that long. Some listen, some don't. Some need to lose out on a good home or two before they get it and that I'm not hard-selling them, but giving them the facts of life in a seller's market. And don't you love it when a buyer asks how negotiable a seller is on a home that's been on the market for two days and has multiple offers? What? Not!

Feb 06, 2016 05:39 AM #4
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Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Tammie - yes they should not shoot the messenger when you are interpreting it.  Sometimes it is hard to swallow.

Feb 06, 2016 06:21 AM #5
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Tammie - Your market sounds very similar to ours, and helping our buyers deal with the reality of the situation is a huge challenge - it usually takes at least one unsuccssful offer for them to figure it out.

Feb 06, 2016 08:40 AM #6
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Tammie- buyers in the Franklin TN housing market would be wise to call you to keep on top of inventory and the current local market!

Feb 06, 2016 10:17 AM #7
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Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

It's funny to me when someone comes to us based on our expertise and then proceeds to tell us everything they think we don't know. 

Feb 07, 2016 08:11 AM #8
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Hey, Tammie!

I included this post in todays Last Week's Favorites on ActiveRain.  Enjoy the SuperBowl - or Downton Abbey!                                                                                                                 

Feb 07, 2016 08:12 AM #9
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Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Tammie - Ah, the law of supply and demand. Can't believe only 17 homes available for sale under $350k in your market. We have 386 homes available under $350k, and that is just in our city. Drive 5 miles down the road, and the next city has 465.

Feb 09, 2016 02:56 PM #10
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Franklin TN Homes for Sale
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