April 5, 2017

April Newsletter + Did You Know?

Hello! This month, we have our monthly stats, (no slowdown yet) some FAQs/refresher tips on first time home buying, and a Spring recipe to get us in the spirit of the season amid the green pollen film currently falling all over EVERYTHING.

 

Davidson County

Home sales in Nashville and Davidson County continue climbing.

The total number of units sold in March were up 7% and average home sales prices were up 9% from last year.

There were 1,538 home sales recorded for the month averaging $293,671 compared to 1,435 sales recorded in March 2016 averaging $268,316. 

Median home sale prices were up 11% from last year to $238,000 versus $215,000 last March.

Through the first quarter of 2017 the number of home sales recorded are up 8% and the average home sales price is up 10% from Q1 2016.

Antioch (37013) had the most home sales for the month with 179 recorded averaging $184,751.  

Green Hills (37215) recorded the highest average sales price for the month of $781,910 across 64 sales. 

 

Williamson County

Home sales were up 8% with 523 sales recorded for the month compared to 483 recorded in March 2016.

The average home sales price was up 5% to $485,746. The median sales price was $420,000, up 1% from last year.

Franklin West (37064) had the most home sales for the month with 158 sales recorded averaging $445,321.

Brentwood (37027) had the highest average sales price of $862,648 across 69 sales.

 

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It's easy to forget what we DIDN'T know about the home buying process when we were first starting out. In an effort to combat common misconceptions, and keep us up to date on what may be new information due to changes in the laws, I've created a page called "Did You Know?"

A few examples of what I address are:

DYK? You do not have to have 20% down payment to purchase a home. There are government loans such as THDA that provide down payment assistance, and with good credit, you may qualify for a conventional loan with only 3% down.

DYK? The onsite agent at a new construction development is not an agent working for you - they represent the builder. If you a view a home with them, they often require a buyer to sign that they will not use their own representation. Call your agent to accompany you to the build site, or you will have compromised your negotiating power and ability to have your own representation.

DYK? Your Realtor can show you any property that is available for sale, not just their own listings! Once upon a time, in a land far, far away, some agents had territories, and geographical restrictions in certain markets. Today your buyers agent can show you any property that is for sale in your market.

 

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Spring means tender, thin asparagus is one of the best things you can get at the store, so I plan to make this next, which would also make a great brunch dish. Egg and asparagus pair perfectly, and it's easy too!

Recipe is here.

Plus, if you're like me, just roasted or grilled is good enough, but a nice sauce might punch it up a bit. Try these!

 

 

March 7, 2017

March 2017 Newsletter

The market stats for February show continued growth in Nashville and surrounding areas. The jump in $1 million plus sales in Williamson County vs. 2016 is notable, with new construction accounting for some of these gains.

 

Davidson County

While the total units sold in February were down 9%, average home sales prices were up 11% from last year.

There were 920 home sales recorded averaging $294,627 compared to 1,015 sales recorded in February 2016 averaging $264,497. 

Median home sale prices were up 15% from last year to $236,000 versus $205,000 last February.

Antioch (37013) had the most home sales for the month with 107 recorded averaging $194,970.  

Oak Hill (37220) recorded the highest average sales price for the month of $1,306,160 across 5 sales.

Home sales over $1 million were up 18% from February 2016 with 20 recorded compared to 17 recorded last year.

 

Williamson County

Home sales were up 10% with 376 sales recorded for the month compared to 343 recorded in February 2016.

The average home sales price was up 8% to $461,226. The median sales price was $424,900, up 8% from last year.

Franklin West (37064) had the most home sales for the month with 117 sales recorded averaging $451,530.

Brentwood (37027) had the highest average sales price of $661,790 across 53 sales.

Home sales over $1 million were up 140% from last year with 12 recorded for the month compared to 5 recorded in February 2016.  

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Photo by Carbine and Associates.

I was lucky enough to preview the House for Hope over the weekend, and encourage everyone to visit and tour the modern farmhouse designer showcase. Built by Carbine and Associates, with rooms designed by some great local talent, proceeds benefit various area children's charities, and there is a lot of beautiful eye candy to take in during the tour! 

You can see some of the snaps I took on my Instagram feed.

Tours are running through the 12th, and tickets are available HERE or at the gate.

 

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Because I'm a food nerd, I always like sharing something fun from the kitchen each month, and today I'm excited to share my take on "The 108" from the Clock Bar in San Francisco. I tested it out on a few willing takers as an aperitif before a meal of Indian food recently, so if you're a curry lover, I have your new cocktail!

This recipe will make a batch of 12-16 cocktails, depending on how generously you pour! 

  • For Maple Masala Syrup:

    8 ounces maple syrup

    24 ounces of water 

    3 ounces garam masala spice

     

  • For Cardamom Infused Gin:

    750 mL gin

    20 cracked green cardamom pods

    (Let gin steep with pods for 3 days)

  •  

    For Cocktail:

    1.5 ounces Old Raj Gin

    1 ounce maple masala syrup

    3/4 ounce cardamom infused gin

    1/2 ounce Lillet blanc

    Add all of the above into a cocktail shaker with ice, and pour into a chilled glass and top with

    1 ounce club soda, and garnish with a piece of star anise.

  • Enjoy!!

 

 

 

I'd love your referrals! If you know anyone looking to buy or sell, have them give me a shout!

 

Feb. 3, 2017

February 2017 Newsletter

Happy February! 

The Nashville market seems to be back in the swing of things already, as I have joked that January is the new March. The number of new listings each week has been climbing rapidly, with sellers hoping to beat out the glut of Spring activity and offer up their homes while there is less competition. Buyers are concerned about another rise in interest rates and want to lock in sooner rather than later. Davisdon County posted the best January on record, so it goes to show that here there isn't much of an off-season any more, as discussed here previously. 

January 2017 Market Stats

Davidson County: The number of home sales increased 13% from January 2016 with 1,091 recorded for the month compared to 967 last year.

The average price of a home increased 11% to $294,616 from $264,829 last January.

Median home sale prices were up 14% from last year to $240,000 versus $210,000 in January 2016.  

Antioch (37013) had the most home sales for the month with 131 recorded averaging $191,510.    

Green Hills (37215) recorded the highest average sales price for the month of $707,474 across 34 sales.

Williamson County: Home sales were up 9% with 345 sales recorded for the year compared to 318 recorded in January 2016.  

The average home sales price was down 2% to $442,871.

The median sales price was $412,440, up 2% from last year.  

Franklin West (37064) had the most home sales for the month with 88 sales recorded averaging $437,416.  

Arrington (37014) had the highest average sales price for the month of $601,986 across 6 sales.

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Thank you to those who left a testimonial/review before the January 31st deadline and were entered to win a $100 Visa gift card! If you missed the announcement on my business Facebook page, the winner is.....

  

 

 J. T. !!  You will receive your card by the end of the week!

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It can be easy to lose inspiration to cook in the Winter months, as we long for the abundance of fresh produce the warmer seasons bring, (cabbage anyone?) but one of my favorite ingredients in the world has just arrived in stores - blood oranges!

Not only are they beautiful, but to my palate, so much more delicious than a navel orange. They complement any meal with a fresh brightness not found in most Winter fare. I just made Mario Batali's Fennel and Blood Orange Salad, and it's a keeper. He has a complete video demo on the recipe here.

 

For brunch lovers, there is nothing simpler, or prettier, than a blood orange mimosa. A little blood orange juice topped with prosecco is refreshing and light for any time.

 

 

 

Until next time! 

Jan. 1, 2017

Happy New Year!

 

Happy 2017 everyone! I hope we are ready, because there's a lot ahead!

2016 closed with some interesting ebbs and flows in the market. While overall sales continued to be stronger over November/December of the previous year, there was a spike of closings in late November attributed to the impending rise in interest rates, and rise they did. Conversely, there was a significant drop in the sale of homes of $1 million or more over last year. 

What does this mean for home sales in 2017? No one really knows for sure, but higher interest rates and the newly built glut of apartments for rent would seem to indicate a slight correction in 2017,  but maintaining a strong market. I think the rents in many of these apartments are too high for the population that needs housing the most, but we'll see what that looks like as we get into the busy season.

It's also that time of year where the gym is crowded, and millions of people are on a diet or cleanse etc... to reboot for the coming months. Personally, I'm excited to try brewing Jun Tea as an alternative beverage that has great health benefits. By using honey from our own hives to brew it, I hope it will keep us all strong, and illness free this year! I'll let you know how it goes - I am gathering supplies this week to get started. If you're interested in the process, there is a tutorial and history HERE.

 

 

Now that Winter has decided to reappear, maybe we can get some exercise at the ice rink downtown without it getting too slushy? My kids are counting on snow to coincide with the first day of school, as they do every year. Some things never change.

Back to it, and I hope to see you soon!

 

Collyn

 

 

 
Nov. 14, 2016

November 2016 News

November is flying by. Thanksgiving seemed ages away, and now it's next week! Here are last month's numbers, a pop up flea market, and my new favorite side dish for Thanksgiving.

Davidson County October 2016

Home sales were down 3% for the month with 1,460 sales recorded compared to 1,503 recorded in October of last year. 

Average sales prices were up 15% to $298,707 from $260,317 last October. Year-to-date home sales are up 1% and average sales prices are up 9% from the same period last year.

Antioch (37013) had the most home sales for the month with 179 recorded averaging $184,936 and Oak Hill (37220) had the highest average sales price of $649,921 across 9 sales.

There were 338 condo sales recorded for the month averaging $428,062.

Home sales over $1 million were up 44% from last October with 33 recorded for the month, compared to 23 recorded last year. 

 

Williamson County October 2016

Home sales were up 7% with 590 sales recorded for the month compared to 554 recorded last October.

The average sale price was up 5% to $468,042. The median sales price was $416,000.

Year-to-date home sales are up 2% and average sales prices are up 7% from the same period in 2015.

Franklin West (37064) had the most home sales for the month with 158 sales recorded averaging $448,005 and Arrington (37014) had the highest average sales price of $758,921 across 5 sales.

Home sales over $1 million were up 24% from last year with 21 recorded for the month, compared to 17 recorded last October.

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I love a good flea market, and this weekend we have a newcomer to town, The Big Flea & Antiques Market. I'll let you know how it is. Thanksgiving weekend, our regular Nashville Flea Market at the Fairgrounds will be returning, so we get back to back market weekends!

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We are hosting Thanksgiving in Nashville for the first time since we moved here 8 years ago, so plans are afoot and I've been researching recipes. Today, I'm sharing an old favorite. If you aren't a big fan of sugary, gooey, marshmallow sweet potatoes, I've got a dish for you. Savory Carrot Soufflé. It's pretty easy, colorful, and quite tasty! Plus, no sugar added.

 

Savory Carrot Soufflé

serves 8

2 pounds carrots, peeled and cut into large pieces

1 teaspoon kosher salt

1/2 large onion, chopped

2 cloves garlic, chopped

2 tablespoons salted butter

salt to taste

1/4 teaspoon freshly-ground black pepper

1/8 teaspoon cayenne pepper

1 cup sharp cheddar cheese, shredded

3 large eggs, separated

 

Preheat the oven to 350 F. Butter a 2-quart casserole or soufflé dish and set aside.

Place the carrots in a large pot and cover with water; add about a teaspoon of salt. Bring to a boil over high heat and cook until the carrots are tender, about 10 minutes. Drain and transfer to the bowl of a food processor.

While the carrots are cooking, melt the butter in a small, heavy skillet over medium heat. Add the onion and cook, stirring frequently, until the onion is soft and nearly translucent, about 5 minutes. Add the garlic and cook one minute more. Remove from the heat, and add to the food processor with the carrots. Puree until smooth.

Using an electric mixer, beat the egg whites on high until stiff, but not dry. In a separate, small bowl, beat the egg yolks with a fork, or whisk until thick and lemon colored.

Transfer the carrot puree to a large mixing bowl. Stir in the salt, pepper, cayenne, cheese and beaten egg yolks until well-blended. Gently fold in the egg whites with a rubber or silicon spatula.

Scrape the carrot mixture into the dish and smooth with the spatula. Bake for 40 to 45 minutes, or until golden brown and slightly puffy. Serve immediately.

 

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There are lots of beautiful modern homes on the market right now! I update my home page several times a week to add new modernist listings as they come on the MLS, so check back to see what's new.

 

I hope everyone has a safe, and happy Thanksgiving! 

 

Oct. 12, 2016

October News, Alloy, and Barb

I did not manage to write a newsletter last month, as I have been working on a new website with better search capabilities, and re-branding with a new logo! I hope you like it. I'm still with Village, but purple was never my best color.

September Market Stats

Last month, Davidson County showed home sales were down 6% for the month with 1,528 sales recorded compared to 1,629 recorded in September of last year, but average sales prices were up 11% to $292,997 from $263,721 last September. Antioch recorded the highest volume of sales (188), and Oak Hill recorded the highest average sales price at $764,426.

Williamson County showed home sales were down 7% with 578 sales recorded for the month compared to 620 recorded last September, but the average sale price was up 10% to $466,547. The median sales price was $412,000. Franklin West had the highest volume (162), and Arrington had the highest average sales price at $736,533.

Development News

I talked a little about housing affordability concerns a few months back, and I'm happy to report that while there is still a lot of work to do in this area, we have a new project by Core Development and Village that will attempt to fill this vacuum. 

Alloy will be a multi-phase project that will eventually have both residential and live/work spaces available in the urban core. (Tech Hill is the new name for that area, Herron Drive off Nolensville Pike.) The first phase is 82 residential units, and prices will range from $185k-$325k in this pre-sale time period.

The Nolensville Road corridor aka NoRo will take Alloy residents into downtown in about 15 minutes, as it is just under 3 miles to Broadway. They are breaking ground and pre-sales have started this week. Completion of phase one is projected for September 2017.

 

Events, Misc.

Centennial Craft Fest is this weekend, as well as the Southern Festival of Books, and the final Grassy Knoll Movie Nights of the season, showing none other than the late Gene Wilder's Young Frankenstein/Fronkensteeen.

Halloween is just around the corner and I have a LOT of work to do. If I am to successfully pull off Barb from Stranger Things, I might need some help finding her outfit. Give me a shout if you happen across either of these tops!

 

 

Happy Autumn! 

Aug. 13, 2016

Late Summer News

Some of us are heading into the second week of school, others are soaking up the last stretch of Summer holidays, and most of us are ready for some cooler weather!

While the real estate market volume slowed down in July, the median sales price has continued to rise. More on what that means for Nashville here.

Remember when we discussed short term rentals? The backlash has begun, and new legislation is being proposed to facilitate the enforcement of current metro rules.

What’s coming up in town that’s fun for all ages?

The Nashville Sounds are finishing out their season by spicing things up at The Band Box with local chefs preparing their version of ballpark food. Details on the final games/chefs here. I’m sorry I missed the Cracker Jacks With Foie Gras Caramel, Pistachios and Dried Cherries!

Too hot to think about outdoor activities? Cool off at a steady 56? 333 feet underground and listen to great music in an unforgettable location. Bluegrass Underground in Cumberland Caverns celebrated their 8th anniversary last week, and the backstory on how the Volcano Room became a venue to watch live music is here. I highly recommend the experience.

My family loves the Saturday morning quiz/game shows on NPR, and we are excited to complete the trifecta of our nerdy favorites live. We’ve seen both Wait, Wait Don’t Tell Me, and Says You, but have not seen Ask Me Another… yet! AMA is coming to Nashville next month, and tickets are still available.

Enjoy the end of Summer, and we’ll talk soon!

June 30, 2016

Rightsizing for Any Age

As I help my parents sort through 50+ years of a shared life together, I find myself thinking of others at this same crossroads. Through the course of our lives, housing needs inevitably change.

What used to be termed "downsizing" has become "rightsizing" as some seniors may opt for more square footage than they previously had in the family home!

Those who travel extensively may prefer a condo with easy airport access. Couples starting a family often find themselves cramped, and longing for more space, yet as we become empty nesters, we may seek a home with less yard to maintain. Everyone has their own "right size" depending on their needs, and lifestyle.

Thankfully, my parents are both healthy, but stairs aren't as easy as they used to be, so it is fitting they have decided to change their lifestyle to one level apartment living. I'm excited for them to be free of the burden of home/yard maintenance and enjoy this next chapter of their lives with fewer obligations inherent in homeownership.

As the Baby Boomer generation ages, there is increasing demand for one level living, and ranches are having a moment (again) for just that - linear, one level floor plans. In Nashville, so many of them sit on an acre or more, and are increasingly torn down, or had a second story added. There are more buyers for one level living than there is inventory in our city.

One new project due for completion in December is Poston at the Park. A long overdue development of boutique condominiums at Centennial Park with one level units ranging from 1552sf - 3300sf. Pricing will start in the $500k range, and the 27 units will vary with seven floor plan options, and two penthouse floor plans. The building will have luxury amenities such as a salt water lap pool, fitness center, rooftop terrace, fire pits, and office space for Poston owners to use. Available exclusively through Village RES, feel free to contact me for more information.

 

Have a happy 4th of July, stay safe, and remember to keep pets secured indoors during fireworks!

And for our local oenophiles, Happy Wine in Grocery Stores Day!

Posted in Buying, Selling
May 4, 2016

Spring Stats and a Modern Treehouse

I recently shared this photo on my new Facebook business page, and it’s a great example of the housing issue we are seeing in what used to be our “starter home” neighborhoods. When 800 sf cottages are now selling in the mid $200s often needing significant improvements, the market is forcing our first time buyers into areas outside of the urban core, even surrounding counties, with no mass transit to get them back into the city easily, and efficiently.

Image via The Washington Post

I think this article in the Nashville Scene sums up the problem this presents to our teachers, firefighters and community lifeblood.

As our first quarter 2016 results for home sales are up 10.7% over Q1 2015, with a median price increase of 10.1%, the market is not showing any signs of cooling off. I expect Q2 numbers will be even stronger!

Showings begin this weekend for a wonderful and unique property I listed last week. It is a Robert Anderson designed 1972 modern treehouse with 3 bedrooms, 2 full baths, and an amazing land bridge entrance to the home.

Architecture nerds and/or modernist mavens don’t want to miss this one!

I’ll be hosting an open house from 2-4 on Sunday, May 8th, so after Mother’s Day brunch, come by and have a mimosa in the treetops!

Details and many more photos can be found HERE.

Oh, and May the 4th be with you…….

 

April 8, 2016

Short Term Rental FAQ

We’re coming up on high wedding season, which in Nashville means bachelorettes on pedal taverns, and Airbnb rentals spiking through the roof. Nashville has become a mecca for both. What does that mean for our city, or for any of us personally?

From a financial perspective, this is great for our city. More tax dollars and tourism spending are pumped into our local businesses. What about individuals? Say you are buying a property with plans to rent it out as an Airbnb, or are selling a home with a garage apartment that is currently leased as a VRBO – sounds great, right? Not so fast. The spike in the short term rental market in Nashville has led to a lot of confusion over what property owners can, and cannot do. I’m hoping to break it down as succinctly as possible for you.

There are 3 types: 1) Owner occupied, 2) Non-owner occupied, and 3) Non-owner occupied multifamily. The bulk of STRPs in Nashville are type 2, non-owner occupied, mostly single family homes, or condominium flats. NOTE: In any condo, or planned unit development, HOA rules apply and most do not allow them – make sure you check!

Q: What qualifies as a short term rental vs a standard lease?

A: Short Term Rental Property (STRP) is defined as a residential dwelling unit, containing not more than four sleeping rooms, that is used and / or advertised for transient occupancy (less than 30 consecutive days by the same occupant). It requires the property owner to obtain a permit, and to pay hotel occupancy taxes, as well as state, and local taxes. Owners may, or may not be required to have a business license depending on annual gross income. More on that is here. Standard leases typically run for a minimum of 6 months to a year.

Q: How do I get a permit?

A: The first course of action is to see if any permits are available in your zone. For Type 1, there are unlimited permits, but for 2 and 3, there is a limited number. For Metro residents, type your address into the map here to see if permits are available where your property is located. Many zones have already reached their maximum number of permits, and there is a waiting list to receive one. If there are any available, or you want to apply to get onto the waiting list, follow the steps outlined by the codes department here.

Q: I have a permit, so when I sell my property, the next owner can use it, right?

A: I’m afraid not. Permits are not transferrable, and the new owner will have to apply for their own permit.

Q: What if I live in one of Nashville’s satellite cities? (Forest Hills, Oak Hill, Belle Meade and Berry Hill) Can I get a permit?

A: The satellite cities each have their own ordinances about STRPs, and currently STRPs are banned in Forest Hills, Oak Hill, and Belle Meade. Berry Hill has not banned them,(95% of Berry Hill is commercial) but plans to regulate them soon.

Q: Do I have to have a real estate license to operate my own STRP?

A: No. Only if you manage rentals for someone other than yourself will you need a license.

Have you ever stayed in a short term rental? How was your experience? For us, traveling as a family, we rent STRPs over hotels 90% of the time since we can cook meals at home, and have more room to spread out for privacy. We love them!

If you still have questions about STRPs, feel free to give me a shout.