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.

March 9, 2016

Spring Fever 2016 Edition

So what’s news? The latest market numbers show the strongest February sales in a decade as buyers are starting their search earlier, and earlier in the year to try and beat the mid-Spring competition. 

Development is still rampant, as evidenced by our skyline of cranes, and the NBJ Crane Tracker was updated this week to include some more recent project announcements. I guess my favorite tee-shirt is still relevant!

 

The budding trees mean the thaw is on, so I think this year we should check out the Cherry Blossom Festival! I’ve never been, and I’d love to hear about it from those who have attended.

For my foodie friends, John Besh is opening, not one, but THREE concepts in town…Bourdain and Brock have been eating their way around town, and it sounds like they are combining the fine dining scene with some grittier local fare. If you’ve never seen the clip (at link above) of Sean Brock introducing Anthony Bourdain to the Waffle House, it’s pretty funny.

If you like your coffee a little stronger than what the Waffle House offers, I’ve started a new referral program; send a friend my way, and get a Starbucks gift card!

Enjoy some time outdoors, don’t forget to set the clocks forward this weekend, and Happy Spring!

 

PS: It’s not too late to take advantage of $100 off your energy audit I mentioned last month!

Feb. 9, 2016

Energy Audit Savings From Go Green

As the snow is falling for the second time this year, I am hoping we don’t lose power as we did a few weeks ago. We found ourselves in a house with the temperature hovering at about 50 degrees with 2 wood burning fireplaces going. I thought, maybe it’s time to have an energy audit?! Our house clearly isn’t as energy efficient as we would like.

Go Green Home Services is offering $100 off an energy audit until the end of March, so I thought I would share that with you!

An energy audit helps you pinpoint what in your house is underserving you, and gives you the tools to address the problems.

If you aren’t familiar with Go Green, it is a social enterprise founded by Village’s CEO Mark Deutschmann that invests 50% of Go Green’s net revenue into Hands On Nashville’s Home Energy Savings Program. This nonprofit program engages volunteers to make energy-savings upgrades in low-income homes at no cost to qualifying Nashvillians. More info can be found here.

Now through the end of March, get $100 off your Energy Audit.

Stay warm friends!

Jan. 13, 2016

Calling All Andersons!

Since I started this blog, I have had the extreme pleasure of hearing from some proud owners of Robert Anderson homes, and I thank each and every one of you for reaching out!!

I truly enjoy hearing your stories of all the joys and quirks your unique homes bring to your lives, and how many of you worked with him during later renovations.

I have created the first draft of the map, and I figure it's high time to share what I have so far. Please remember, this is a work in progress, as I am still uncovering addresses that have changed, properties torn down, etc..

Again, if you know an address to be incorrect, or can shed some light on a few of our mystery properties, please share. I hope by crowdsourcing we can collectively get some really solid data on these homes.

The map is HERE.

Map of known Robert Anderson designed homes.

In the next year, I would LOVE to organize a home tour of Robert Anderson homes, so if you think you might be interested in participating, please let me know!

Below are some of my favorites that have either sold recently, or are currently on the market.

 

4918 Mountainview Dr.

 

 

5054 Villa Crest Dr

 

 

2510 Ridgewood Dr

 

 

5836 Beauregard Dr

 

If you would like to stay updated on my Anderson project, or would like to participate in the future home tour, please sign up below!

Sign Up for Robert Anderson Updates HERE.

 

 

Posted in Architecture
Jan. 6, 2016

Regrouping for 2016

January is the month to regroup for many of us. We get back into our routines, and make plans for the coming year.

My plans always involve a good clean out with a side of organizational frenzy. I am determined to tackle the attic this year, but I can’t say I’m feeling quite ready for it in current temperatures.

To help inspire us, I have updated last January’s post on decluttering and organizing to include the “KonMari” craze. Yes, I too fell in love with Marie Kondo’s book The Life-Changing Magic of Tidying Up, and will be buying the new companion book Spark Joy very soon.

Have any of you adopted her methods for keeping your personal spaces organized? I’d love to hear what did, or didn’t work for you.

For plans I am feeling ready to tackle – Nashville! I love looking at the year end list of Nashville’s top restaurants or the best new everything and deciding where and what to try next. With new things opening every week, we can’t possibly keep up.

Our next stop (not on the list) is the new Otaku that just opened in the Gulch. We enjoyed the food when they operated out of the POP space in East Nashville, and hot ramen on a cold day is just the ticket.

Stay warm, happy 2016….and happy planning, organizing, and eating!

Nov. 22, 2015

Buying and Selling in the Winter Months

Sometimes your best laid plans are disrupted, or there is an unexpected relocation. Regardless of the reason, there will always be buyers and sellers in Winter. While Spring and Summer are the high season for home sales, Winter transactions have their advantages. If you don’t mind a smaller pool of homes for sale, or moving around the holidays, Winter can be a good time to house shop, or sell.

Less Competition, More Leverage
Since Spring and Summer are the most active real estate seasons, many home sellers wait until then to list their homes. That means there are fewer homes for sale in the winter, but the sellers often have strong reasons to sell their homes soon, such as job relocation. These motivated sellers can be a boon to the home buyer. From the Selling perspective, buyers coming to look at your home are also highly motivated, and you will likely see a greater percentage of serious and qualified buyers making appointments, and a far fewer neighbors and looky-loos!

With fewer homes to choose from, the smaller selection can save buyers and sellers a lot of time, yet allow buyers more time to consider their purchase decision. In Spring, buyers are often forced to decide on the spot whether to make an offer, whereas in Winter, less competition can take some of the pressure off of the buyer and allow them to possibly sleep on it.


Availability of Agents and Others Plus 
Assessing a Home’s Winter Fitness

Viewing homes in the winter lets you see how it holds up to the weather. Did you feel cold while looking through the house? Is there a functioning heating system and hot water? Are the windows letting in drafts?

Another advantage of buying a home in the off-season is the greater availability of industry professionals. Real estate agents will have fewer clients and more time to focus on your home search. Lenders will be more accessible for questions and assistance. Some lenders even waive fees during the off-season to encourage borrowers to use their services. (Our partner SWBC is offering free appraisals until the end of the year!!) Likewise, movers tend to lower their costs during the winter months.

So, if you find yourself looking to buy or sell in the Winter months, don’t despair! It can be a fruitful and pleasant experience for all parties.

La Luge by YH2 Architecture

Posted in Buying, Selling