Nashville Flooding: What do we do now?

After seeing historic flooding in Nashville TN, Franklin TN, and our surrounding communities, many will need a helping hand; especially if reports are true that it may get worse before it gets better.

Whether you are concerned for yourself and your family, or for your neighbors - please see the guide from the American Red Cross “Repairing Your Flooded Home.”
1) Take Care of Yourself First
2) Give Your Home First Aid
3) Get Organized
4) Dry Out Your Home
5) Restore Your Utilities
6) Clean Up
7) Check on Financial Assistance, etc

If you are looking to get involved for those around you – and we appreciate it so much – Hands on Nashville is thinking the same thing (please feel free to add updates below as more opportunities arise around the region): (HT @GiveEmKel) OR DONATE.

For firsthand accounts, check into this grouped photo blog @Flickr.

Thank you again to @nashvillest and everyone who contributed to #othersituation2010, #flood2010, #splashville, #Nashvenice, #nashlantis

((what is working with Kevin like?))

Kindest regards,

Kevin Pellatiro
(615)714-7918
kpellatiro@realtracs.com

Hoping to help you take advantage of the market – when you are ready.
---
Keller Williams Realty
Each Office is Independently Owned and Operated.
9175 Carothers Pky Suite 110
Franklin, TN 37067
Office: (615) 778-1818

5 Offers on a $550,000 foreclosure in Brentwood, $499k Short Sale Sold, and deals to be had…

There is good reason for responsible concern in housing today with shaky unemployment / economy numbers, shadow inventories from the banks, and homes taking longer to sell for less – but the on the ground activity is still more active than the popular buzz.

People are taking advantage of the market, even with these freezing temperatures:

This Brentwood foreclosure is listed for $550,000 (just over the median home value in Brentwood Tennessee) and has five offers in less than a week. It likely sold, and ready to have its new homeowners within 30 days. Below is the market data for this STEAL…

Another short sale in Brentwood is about to make a lucky homeowner (of a near custom quality residence in the Woodlands at Copperstone) very happy. Almost perfect condition, with beautiful old growth trees in the backyard.

---

The deals are out there, but the market is moving quickly below the water line. If you really want a steal – be ready to act NOW. Cash is king, prepared and experienced lending can be almost as good.

Are you ready and prepared to take advantage of this market before all the spring competition?

Kevin Pellatiro
Hoping to help you take advantage of the market – when you are ready.
(615)714-7918 kpellatiro@realtracs.com http://signswemustobserve.blogspot.com/

Some recent fun in the last few weeks…

Nashville :: home sold on the first day. Crazy. Well prepared and beautiful landscaping to compliment stunning 60’ maybe 70’ foot trees in the backyard. Did we give it away? Not a chance - received the second highest price in the neighborhood, outperforming half a dozen comparable homes this year; plus the several still available (we were second only to a recently renovated version of our home).

Nashville :: we paid 20% less than the average home price (27% below the median). Compared to a neighborhood home that closed within three weeks of our purchase – that meant 1,000 square feet… for FREE (about 2.5 two car garages worth of house). Pretty good first time purchase, especially with $8,000 still to come in the mail.

Williamson County :: THE house (the one we all wanted to hang out at as kids - pool, spa, game room, amazing private setting - even a community lake, the whole nine) was just purchased for $45,000 less than anything else in the neighborhood. Love it.

Thompson Station :: home sells in 30 days thanks to homeowner’s light décor, hard work (with three kiddos no less! Wow) and intense commitment to the showing process. Getting price? About $7,000 more than identical floor plan on the same street (that recently sold).

Murfreesboro :: Short sale purchase is the lowest ‘purchase price’ and ‘price per square foot’ in this highly desirable ‘Boro neighborhood… lowest of all *16 transactions* in 2009! Top ten signs you got great deal – 16 other people paid more :-) Another pretty good first time purchase, with $8,000 in the mail.

---

Are you or someone you know looking to protect yourself in the sale of your home? How about ensuring that you buy your next home right?

---

Are you ready to take advantage of the market?

###

Cribs, Music City style (April 2009)

As Thomas Wood points out for the CityPaper, two of Nashville’s NFL families made our list in April. But don’t just sit on the sidelines, take a look at these Nashville Cribs.

That tourist in downtown Franklin just saved us $322

Did you know that in an average Williamson County day, tourists spend $687,890?? As a result of this local tourist spending, each Williamson County household pays $322 less in local and state taxes. Oh, and 2,250 jobs are created.

((…according to the latest "fact sheet" compiled by Dr. Steve Morse, Director and Economist for the Tourism Institute at the University of Tennessee Knoxville. According to the report, which analyzes 2007 visitor spending in Tennessee, tourists spent an average $687,890 per day on hotels, transportation, restaurants, retail, recreation and entertainment in Williamson County.))

Does your business or company have an event that could enjoy the convenience of Cool Springs, and the charm of Franklin?
http://www.visitwilliamson.com/

.

Where should I buy in Brentwood?

A recent, public, discussion with a local Brentwood homebuyer that I hope might help you in finding the right home, at the right price here in the Nashville area:

Chris (buyer): If a buyer had the opportunity to buy at the same price point in Bonbrook and Highland Park, what would the better subdivision be?

--

Kevin (realtor): Location should be a major factor in any real estate purchase, along side the numbers. The location of Highland Park has a broader appeal than Bonbrook due to the proximity to I-65. The direction of the values in Bonbrook seems less desirable to me than those of Highland Park.

Given the price ranges, do you mind me asking which other neighborhoods you have been considering (there may be a few more to add to your list)?

---

Chris (buyer): Kevin, To answer your question about other subdivisions being considered, our search has been exhaustive and comprehensive - I feel as though we've looked virtually everywhere. Inglehame Farms, Chenoweth, Lansdown, Bonbrook, Carronbridge, Montclair, Governors Club, Saratoga Hills, Fountainbrook - the list goes on and on.

We totally agree with you on the direction of the values in Bonbrook, however, this seems to be holding true for most of the homes in the aforementioned subdivisions. Despite comps, many homes are still being listed on the market at well above neighborhood values, which is interesting to us. I don't know that this is an issue simply in Bonbrook - based on market data, I think it's an issue for most of the neighborhoods in Brentwood, which could explain why the market is comparatively slower to what it was. If homes were truly priced to sell based on comps or relevant market data, I believe the Nashville market would be in better shape (with less inventory).

Sorry for the tangent!

---

Kevin (realtor): Having just helped a great family make a similar relocation move in the last few weeks, I feel your pain (grin). Your searches have quite a bit in common - even the frustration with our market’s response to the times. There really are a few neighborhoods that continue to perform better than others, and while the quality of condition is a key component - location has proven to be king once again in this buyer’s market.

We found significant differences between what homeowners paid two and three years ago - versus what they were able to sell for today - in various Brentwood neighborhoods vs. other Brentwood neighborhoods. My hope is that your agent continues to give you straight forward, accurate information on the differences between what neighborhood A and neighborhood B have been doing yesterday, and today.

The trends are there in Brentwood. If only looking back, they can help us stay inline with market expectations moving forward. Trust your gut -- and the reasonable numbers. If there are any questions I can be more specific on, please let me know via e-mail or phone.

---

Does this help you in your search? Do you have questions?

---

Hacking it out in Brentwood... in the $200,000s??

This Brentwood rehab might be a steal, if you have the guts for it. Its ROUGH. Past clients will assure you - if I start with that, I mean that (grin). Full renovation needed. Still, if you are looking for trees, trees, trees and actual privacy in Brentwood (no easy task) -- it’s hard to beat this opportunity for…
1) a private neighborhood (feels like Forest Hills or Leiper's Fork)
2) convenient location off Hillsboro Road
3) Grassland/Grassland school zones (elementary school and middle school)

If you count yourself among the truly brave, or have put yourself in a position to strike on a deal like this one in today’s market, go and take a look at this diamond in the rough (not my listing). May even be a fit for 'construction to perm' or FHA renovation lending. We would need to steal it to make it worth the upside, but that’s always a possibility, right?