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Editorial Results (free)

1. Low inventory creates good opening for reluctant sellers -

The next two months will be telling in the world of local residential real estate. There is the possibility that the year will end with a record-setting number of closings. Most real estate brokers say the number would be much higher with more inventory, an issue that has plagued the area since 2014.

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3. Leaving it all on the field with football analogies -

With football season devouring the minds and souls of the Midstate, it is interesting to try to gain knowledge from the brain trusts – aka head coaches – who impart words of wisdom throughout the season.

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5. Top Middle Tennessee residential sales for September 2019 -

Top residential real estate sales, September 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

6. Midstate market continues to defy rational expectations -

“Third Quarter 2019 Home Sales Showed Unprecedented Growth,” reads the Greater Nashville Realtors’ news release announcing third quarter sales numbers. It might sound hyperbolic, but it’s really not overstating the situation.

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8. Outsiders are pouring in to neighborhoods, stadiums -

Buyers in the Nashville real estate market are angry and frustrated, especially the buyers who have decided to relocate here from other cities.

They feel there is no inventory, and houses that meets their specifications and parameters receive multiple offers when they hit the market.

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10. Want to move into a clean house? Better grab a broom -

Those with cleanliness fetishes should beware when buying homes and understand the houses they consider will not meet their tidiness specifications. Those who are concerned about sanitation often include the term “House must be cleaned by a professional cleaner prior to closing” in their offer.

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12. Top Middle Tennessee residential sales for August 2019 -

Top residential real estate sales, August 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

13. Get a home inspection – even if you’re not selling -

Even as we continue with our monthlong drought, the water intrusion issue continues to plague homeowners and hamper the sales of many homes. Heavy rainfall followed by days of hot, dry weather can cause the soils to move about and change the flow of stormwater. When this happens, the building foundations can be affected.

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15. New Metro Council has housing issues to resolve -

With the mayor’s race in the rear-view mirror, developers, builders and Realtors are making efforts to discern how the election will affect their industries. Most of the matters the Council considers have to do with real estate, and most of that zoning.

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18. Urban legends, myths plague real estate market -

Residential real estate is loaded with myths and misinformation. Well meaning, well heeled, highly educated men and women of brilliance often utter sentences that make responses difficult.

Last week, a successful entrepreneur said, “I’m putting in a new stair rail, not that it needs it, but the code requires it, and the lender won’t lend any money if it does not meet codes.”

19. The rain in Nashville falls mainly in your basement -

Albert Hammond had a big hit with a song he co-wrote called “It Never Rains in Southern California.’’ Maybe not in California, but in Nashville, it rains and it rains all year. In February, the rain topped the charts with 12.55 inches, the most the city has seen in its history in that month.

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21. The 'R' word creeps in although the news is good -

The Greater Nashville Realtors released sales data last week comparing the monthly numbers with the same periods as last year. Based on the monthly figures, the news is good with sales up 9.9% as unit sales increased from 3,812 to 4,189 and median prices are on the rise as well.

22. At-home radon testing should be a requirement -

In the 1980s the air quality in Nashville and other cities around the country began to worsen to the point that states and the Environmental Protection Agency began to take steps to improve the air Tennesseans breathe.

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25. Belle Meade residents mull conservation overlay -

Several weeks ago, Lyle Patterson, director of building and zoning for the City of Belle Meade, mentioned there was going to be an historic announcement in the coming weeks that would have significant ramifications for the city.

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27. Buyers, sellers don't fret about Realtor shuffle chaos -

For years, the program hawkers at athletics contests have used the same enticement to sell their wares:

“You can’t tell the players without a program!” The same can be said for Realtors over the past several months. All of this is good for business for buyers and sellers alike.

28. Nashville pays respects to innovative builder -

The city of Nashville lost a treasured, iconic character recently with the death of Rogan Allen. Arguably the best home builder in Nashville during his heyday, Allen was a sponge absorbing architectural history and construction knowledge and consistently incorporating the ancient practices into the current, cutting edge building trends worldwide.

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30. As sales fluctuate, demand for $1M-plus homes grows -

There were 4,172 homes sold in June, eclipsing the 4,036 in June 2018, Greater Nashville Realtors sales data shows.

Oddly, there also were 4,172 sales in May. Steady as she goes for the real estate world.

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32. Top Middle Tennessee commercial sales for second quarter 2019 -

Top commercial real estate sales, second quarter 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

33. Top Middle Tennessee residential sales for second quarter 2019 -

Top residential real estate sales, second quarter 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

34. Earnestly, there has to be a better way to kill a deal -

During the first couple of hundred years of the country’s existence, there were various contracts used by buyers and sellers of real estate to help them agree on the terms and conditions of sales.

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36. Top Middle Tennessee commercial sales for June 2019 -

Top commercial real estate sales, June 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

37. Top Middle Tennessee residential sales for June 2019 -

Top residential real estate sales, June 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

38. You can ask, but you might not like the answers -

As the years float by and trends come and go, the questions frequently asked by buyers and sellers of their agents remains fairly constant. In many cases, the answers are blowing in the wind, while in others, most Realtors agree on the responses.

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40. Appraisers struggle to find comps for inflated deals -

It had to happen at some point. Prices in the Nashville residential real estate market have been flying skyward for seven years, and the appraisers have been able to keep pace, at times making upward adjustments when there were multiple offers on the same house.

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42. Top Middle Tennessee commercial sales for May 2019 -

Top commercial real estate sales, May 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

43. Nashville homes go for beans compared to Boston -

While many local real estate investors have sat on their hands during the recent boom – watching in disbelief as the market careens out of their comfort zone – out of state money continues to roll in. And that includes international investors.

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45. Top Middle Tennessee residential sales for May 2019 -

Top residential real estate sales, May 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

46. Even the haters see some benefits in open houses -

Are open houses a valuable real estate tool or simply a way for real estate brokers to pad their mailing lists?

It’s the real estate equivalent as asking a colleague, “So, what do you think of Donald Trump’s presidency?” You might get a stronger reaction than you anticipated, although there is no political correlation between the two camps in the open house debate.

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48. 2019 on pace for another record year in home sales -

The bubble has not burst, but the city is set to explode. The Greater Nashville area is on its way to yet another record-breaking year with year-to-date sales totaling 15,698, compared with 15,606 sales through May 2017, the year the record was set.

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50. In dog-eat-dog world, homes must have new-puppy smell -

One of the oldest myths in pet lore is that one year of a dog’s life is the equivalent of seven years of a human’s life. Hence a 5-year-old dog would be comparable in age to a 35-year-old human, and a 10-year-old dog would have the age comparable to a 70-year-old man or woman.

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52. Want to keep some fixtures? Don’t let buyers see them -

Sellers often have precious possessions attached to their walls and ceilings they would like to take with them as they transition into their new homes. “The chandelier is an heirloom and does not convey,” the listing description specifies.

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54. More to Belle Meade sales than premium commissions -

After completing their real estate courses, passing the state real estate examinations and receiving their real estate licenses, many agents set their sights on Belle Meade.

Long known for its affluence and – for years – the home of the highest-priced houses, these newbies feel the area will become their primary source of revenue.

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56. Top Middle Tennessee residential sales for April 2019 -

Top residential real estate sales, April 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

57. Stable and unpredictable? Sales trends defy reason -

The Nashville real estate market is nothing if it is not baffling.

At the end of last month, there were 3,158 sales that fell into the “pending” category, meaning the properties were under contract, not being shown and the listing agent was confident that the sale would close.

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59. Belmont Park Terrace build raises level of competition -

With building permits breaking all existing records, once quiet neighborhoods are now under siege from builders who are demolishing and then rebuilding homes, leaving many homeowners angry and frustrated.

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61. Real estate frenzy shifts to those looking for rentals -

The uptick in residential property sales, in both condominium and single-family homes, has been well-documented, but the most active sector this spring is the rental market.

On any given Sunday, there are many more renters scouring the market than those seeking ownership, and there is no comparison to the speed of the game. In most cases, those seeking long-term rentals – six months or more – must rent the properties sight unseen.

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63. Lupinacci is now chairman, CEO of Baker Donelson -

Timothy M. Lupinacci has assumed the role of chairman and chief executive officer of Baker Donelson.

Lupinacci, who was elected as the incoming chairman and CEO by the firm’s board of directors in October 2018, assumes the role from Ben C. Adams, who has served as the firm’s chairman and CEO for the last 16 years. Adams is remaining with Baker Donelson and will continue his practice focused on estate planning and corporate law.

64. Inventory, construction jump, market stays steady -

Building permits increased 30 percent during the first quarter of 2019 compared to last year and totaled $1.43 billion, says real estate developer Charlie Vaughn of Cherry and Associates.

As was reported last week, residential sales decreased 6% in May while inventory increased.

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66. Market sees higher prices, more inventory, fewer sales -

The law of supply and demand is taking a beating in the Nashville real estate market. Inventory is on the rise, with 11,276 properties on the market compared with 8,521 at this time last year. Yet the price of a single-family home has increased from $297,915 to $305,000 during that same period. Condos have followed the trend, rising from $218,600 to $223,000.

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68. Top Middle Tennessee residential sales for March 2019 -

Top residential real estate sales, March 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

69. Better to miss a deadline than kill entire transaction -

In most real estate transactions, there is a confluence of legality, reality and realty. From time to time, however, there are situations in which the law and the contract and realism are at war.

In these skirmishes, it is possible to win the battle and lose the war.

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71. Low tax burden not only reason for Nashville influx -

The spring market is here, and houses are flowing onto the market as vigorously as last month’s rains flooded basements and crawl spaces. The real estate bubble is yet to burst, and sellers know it. Prices remain on the rise.

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73. Educate yourself before searching for new home -

Spring break is over. It ended for Metro schools a couple of weeks ago, most of the private schools returned to the classrooms Monday and all the surrounding counties have their students back in school.

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75. Let the seller beware when the buyer’s house hasn’t sold -

Sellers in a frantic real estate market are not likely to accept an offer contingent on the sale of the buyer’s current residence.

Buyers in the past would often make offers with financing contingencies but no mention of the ownership of their current homes. The contract was merely dependent upon the buyers’ ability to secure financing.

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77. Creswell named GNR Realtor of the Year -

Denise Creswell with Pilkerton Realtors has been named the 2018 Realtor of the Year by Greater Nashville Realtors.

The Realtor of the Year award is presented annually to the association’s member who has made the most significant contribution to their clients, the real estate profession and the community. Creswell was awarded the honor for her commitment to professionalism, clients and the real estate industry at the association’s annual Awards of Excellence Gala on March 9. The 2017 recipient, Amy Cannon, presented Creswell with the award.

78. Top Middle Tennessee residential sales for February 2019 -

Top residential real estate sales, February 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

79. Soggy basement? Solution might be in your back yard -

With the abundance of rainfall that has tormented the area during the past several weeks, thousands of residents have experienced flooding or water intrusion in their basements.

A common solution for wet basements is the use of a sump pump, which senses gathering water and pumps it outside.

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81. Many changes ($7K toilet?) in 40 years of real estate -

Several years ago, I left the banking industry to try my hand at real estate until I found a real job.

Saturday, I will celebrate the 40th anniversary of that decision. It is unfathomable that the past days have spawned 40 years, but it happened.

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83. Comps not always a good guide for pricing a home -

Located slightly into Williamson County, the house at 2492 Old Natchez Trace sold last week for $805,000, which was $55,000 more than list price. Well, $55,000 more than the latest list price. It had previously been listed for $955,000.

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85. Restaurants, homes for sale have predictable death spiral -

As Nashville evolved into the ‘It City,” the only sector that proliferated more than real estate – with its tall, tall skinny houses, apartment buildings and condos – was the restaurant industry.

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87. Top Middle Tennessee residential sales for January 2019 -

Top residential real estate sales, January 2019, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

88. Buying a home now will provide better options later -

How important is home ownership? It is something everyone should attempt?

NewsChannel 5 had a story this week about 86-year-old Aline Lyles, whose apartment building was sold and she was given notice to find a new place to live.

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90. Another irrational reason to hate Super Bowl champs -

The real estate market and the automobile industry received a big boost from the Federal Reserve last week when it announced that it would not raise rates in the near future, says Elliot Eisenberg, who calls himself the “Bowtie Economist.”

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92. Songwriters, flippers dream of hitting it big – just once -

At one point in the city’s storied past, Nashville’s population included approximately 20,000 musicians, singers, songwriters and a host of others employed by ancillary industries of the music business, according to a music industry insider.

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94. 2018 not a record-breaker but likely better than 2019 -

The Nashville area had 39,514 total real estate sales in 2018, 968 less than record-setting 2017, marking a 2.4 percent decrease, Greater Nashville Realtors figures show.

That also means 2006 has maintained its hold on second place and remains the only year other than 2017 to have surpassed the 40,000-sales mark. 2018 pulled in 486 sales short of the 40,000 mark and 532 less than the 2006 total.

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96. Top Middle Tennessee residential sales for December 2018 -

Top residential real estate sales, December 2018, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

97. Top Middle Tennessee residential sales for 2018 -

Top residential real estate sales, 2018, for Davidson, Williamson, Rutherford, Wilson and Sumner counties, as compiled by Chandler Reports.

98. Hacker’s scam, court ruling a big wakeup for industry -

There is no better way to get the attention of an industry than to have a court render a $167,129 decision against one of its members.

It happened in a Kansas federal court with the jury finding a buyer’s real estate agent and his broker liable for negligent representation in a case involving a wire transfer. The defendants, a real estate agent and his broker, were found liable for $167,129.

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