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VOL. 46 | NO. 8 | Friday, February 25, 2022

$245K more than asking price? How about $350K?

Nashville-area bidding wars insane

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4013 Colorado Avenue

As the entire city is beset with flu, various strains of COVID and a nasty rhinovirus, home sales continue to flourish. Sellers are receiving offers for hundreds of thousands of dollars over the list price in all areas of town.

Last week, a house in the 37215 ZIP code located at 1051 Lynnwood Boulevard sold for $170,000 more than its list price, and a home at 130 Windsor Drive in the Belle Meade Links sold for $245,000 more than list price, topping the $2 million mark.

Hopping over Harding Pike, or Harding Road, 756 Newberry sold for $350,000 more than list.

Over in Forest Hills, 815 Forest Acres Drive was listed for $850,000 and sold for a mere $1.2 million, while down I-65 a couple of miles, a Crieve Hall property sold for $50,000 more than the price listed.

Sliding to the West, Bellevue was not immune to the trend, with a home at 905 Batey Court selling for $100,000 more than list price.

An East Nashville home on Carter Street went for $985,000 after being listed at $815,000.

Those shopping in the Hillsboro/West End neighborhood saw 1808 Sweetbriar close for $75,000 more than asking price.

The entire city is infected with the multiple offer epidemic.

This while hospitals are filled with COVID patients, so much so that Vanderbilt Hospital has initiated two programs in attempts to handle the overflow: One is called “Covid at Home,” and the other “Hospital at Home.”

In both cases, the homes of the patients are converted to makeshift hospital rooms complete with oxygen, prescription drugs, all of the equipment to allow remote nurses to monitor vital signs.

Illnesses and possibly deaths have even placed a strain on the probate court. One attorney noted probating a will – which in the past could be done in a matter of days – is now taking as long as four months.

Often, courts will allow real estate transactions that were in progress to close when one of the principals dies. However, those settling estates should be aware the sales are subject to court approval.

Sale of the Week

Sylvan Park was not to be denied a place in the bidding wars last week, and the home located at 4013 Colorado Avenue sold for $1.4 million after Sunshine Weaver listed it for $1.25 million. Weaver is with Zeitlin Sothebys International Realty and netted her sellers $150,000 more than her listed price.

With 3,303 square feet, four bedrooms and three full bathrooms, the house sold for $424 per square foot, or $46 per square foot more than list price. The owner had paid $800,000 for the house in 2018, so Sunshine need not worry about a clouded title with this one.

In her remarks about the home, Weaver spun a descriptive narrative: “A stunning Craftsman in one of Nashville’s most walkable and sought-after neighborhoods, Sylvan Park. This open-concept home boasts four bedrooms with a gathering room that could be a fifth bedroom.”

She notes the home features a “dreamy” primary bedroom on the main level that allows access to the deck on the rear of the house. Additionally, she offered opportunities for the space above the two-car garage that the buyer could finish as their hearts desire. Her suggestions: Art studio, game room or sports cave.

We’re thankful the term “man cave” has at least left this building, maybe going the way of the raven to be written nevermore.

Another feature mentioned is a “secret laundry chute from the second floor to the first.” This could prove beneficial for either the family’s secret, dirty laundry or an invisible means for the transportation of said laundry to a place for its cleansing.

Ashley Dugger, the veteran broker with Benchmark, represented the buyer and emerged victorious over other suitors for the property. Her buyers can enjoy the chef’s haven with a walk-in pantry and extraordinary counter space.

Richard Courtney is a licensed real estate broker with Fridrich and Clark Realty and can be reached at richard@richardcourtney.com.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0