Franklin (Franklin, TN)
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Why Use a Franklin TN REALTOR® When the Housing Market is So Hot?
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

The other day I spoke with a Franklin TN home buyer. He called to pick my brain about new construction in the area. When I asked if he had a home to sell, he replied he did but he'd be selling it without the assistance of a real estate agent. I asked why? He stated the Franklin TN housing market is so hot. Why use an agent?

According to the National Association of REALTORS® (NAR), 2007 was the peak of the housing boom. That year, 13% of all sales in America were by For Sale By Owners (FSBO). The FSBO market shifted during the economic downturn to 9%. Even though, the housing market has experienced a recovery over the last two years, FSBO sales remain at 9%.

Why are sellers willing to pay real estate professionals when buyers are lining up to bid on their homes?

Why Use a Franklin TN REALTOR® When the Housing Market is So Hot?Internet marketing is more complicated and expensive than it looks. While the internet has revolutionized the way people buy homes, FSBO sellers don't fully grasp what this means. They think merely having their home in the MLS will automatically get it sold. Unfortunately, only members of the local multiple listing service can market homes in the MLS so FSBO sellers are restricted from its use. Sellers can upload their own listings to Trulia and Zillow now, but it may require enhanced features to get them the exposure they desire. These enhanced features can be expensive for FSBO sellers. As a result, many don't use the internet to its full potential, if at all.

Buyers still prefer to work with a real estate agent. According to the NAR, 32% of home sales were the result of a real estate agent. If a FSBO seller is unwilling to pay a buyer's agent's commission, he may have a hard time selling his house. In Tennessee, if a seller refuses to pay a buyer's agent, the buyer would then be responsible for paying his agent the commission. Many buyers will simply pass on a FSBO house before paying their real estate agent's commission.

FSBO sellers don't prepare their homes properly for sale. In an effort to keep as much money as possible in their own pockets, FSBO sellers refuse to hire a home stager to help them get the home ready for market. They underestimate the importance of staging and making repairs prior to listing their home.

FSBO owners don't know how to market their homes. Many think putting a sign in the yard and placing a flyer box outside, will sell their house. This means only those who drive by will find it. That's not going to get sellers the necessary traffic they need to sell, especially for top dollar.

FSBO sellers risk legal action. Selling a house is a legal transaction. Tennessee requires many disclosures be completed. If a seller doesn't properly disclose a defect, there is the potential that a lawsuit could transpire.

FSBO sellers don't know how to price their home. Typically, FSBO sellers list their homes too high which later causes them to sell below market value. In 2013, FSBO sellers averaged $175K. While their real estate agent counterparts averaged $210K. That's a price reduction of 20%; way more than the typical real estate commission of 5 to 10%. Not to mention, a lot of work to the sellers.

FSBO sellers don't want to take the security risk. The recent abduction and murder of an Arkansas real estate agent is a perfect example of the risks involved in selling real estate. A greater number of FSBO sellers have recognized the potential risk of letting unqualified buyers into their home. They would rather pay real estate agents tens of thousands of dollars in commissions to keep their families safe.

When you are ready to sell your Franklin TN home, consider your options carefully. The sale of your home is likely the largest financial transaction you will ever make in your life. Is that something you really want to do without the assistance of a professional?

Why use a Franklin TN REALTOR® when the housing market is so hot? Because it's a smart thing to do.

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Tammie White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 495-0752 Direct
Email: Tammie@TWRealtyGroup.net
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Benchmark Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tammiewhite2
How Local Should Your Agent Be to Sell You a Franklin TN Home?
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

How Local Should Your Agent be to Sell You a Franklin TN Home?This morning I ran across a post on the internet written by a person who is marketing their real estate services in Franklin TN. This person isn't even licensed yet. He's in the process of obtaining his Tennessee license.

From what I could see, he was previously licensed in another state several years ago and decided to get a Tennesee license. He has a blog on his website and has been writing posts about the Williamson County housing market and his experience in this market.

First, he doesn't even have an active license yet. Second, he has never sold a property in Williamson County or any other place in Tennessee. Yet his website refers to his experience selling Williamson County real estate. I also learned he's not even a resident of this county. He actually resides in a county approximately 50 miles from here. Why would a real estate agent want to sell homes in a county so far from his home?

Williamson County is the richest county in the state. Actually, it's the 17th richest county in the country. He'll make more money here than he will in the county he resides. So what's wrong with that? Doesn't everyone want to make more money?

My question to you--would you rather work with an agent who sells Franklin real estate to make more money? Or would you rather work with an agent who knows the market well? In other words, how local should your agent be to sell you a Franklin TN home? 

Nashville is just 15 miles north of Franklin. Many of the agents in Franklin will also sell in Nashville. I do NOT. I am NOT a LOCAL NASHVILLE REAL ESTATE EXPERT! Do I have access to the market data for Nashville? Absolutely. Am I the best person to hire to buy there? NO.

While I have access to sell you property all over Middle Tennessee, the information I would provide is greatly reduced in areas not well-known to me. For that reason, I only sell in Williamson County with an emphasis on Franklin.

When I see a person or agent who hasn't even sold one property here, suggest they are experienced in the Franklin housing market, I take offense. I have spent years working this market and researching the many nuances to buying a home here. My knowledge extends far beyond real estate.

How Local Should Your Agent Be to Sell You a Franklin TN Home?I know about the schools, the places to shop, dine out, access to information about lenders, doctors, dentists, hospitals and countless other things.

If you are looking for a neighborhood with a swimming pool, I can rattle off half a dozen names of Franklin neighborhoods meeting that criteria. That information will include the price points of these neighborhoods, the schools they are zoned for and even the monthly home owner's association fee.

When I hear a street name, I often know exactly where it's located. This information is valuable to buyers. Especially, those buyers moving here from other states.

I also know about the cadence of the local Franklin housing market. I know if a property is priced right and how quickly we should view it after hitting the market. I have prepared monthly market reports for 30 or more Franklin neighborhoods since 2009. I can tell you the current absorption rate for Franklin and most of its neighborhoods.

This isn't information that can be gleaned in just a few months. This is information that has been learned through many years and countless Franklin real estate transactions.

How Local Should Your Agent Be to Sell You a Franklin TN Home?I continually educate myself about the housing trends, sales and statistics. I stay informed about Franklin new construction and commercial changes that will affect the local real estate market and home values.

I understand that many families move here to take advantage of our highly-ranked public schools and keep informed about changes in zoning, programs offered and school rankings. 

When you're selecting a Franklin TN real estate agent, don't you deserve an agent who knows the most about the area, the local economy and housing trends?

 

How local should your agent be to sell you a Franklin TN home? VERY LOCAL!

************************************************************************************ 
 
Tammie White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 495-0752 Direct
Email: Tammie@TWRealtyGroup.net
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Benchmark Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tammiewhite2
Franklin TN Biggest Festival of the Year | Pumpkinfest Oct. 25, 2014
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

Franklin TN Biggest Festival of the Year | Pumpkinfest Oct. 25, 2014Franklin is famous for the many festivals it hosts each year but the Franklin TN biggest festival of the year easily goes to Pumpkinfest. This year marks the 31st year of this event. Scheduled to take place on Oct. 25 from 10 a.m. to 8 p.m.

There is lots of family fun in store. The People's Church will host a free children's area on Third Ave. S. Events will includes games, inflatables, pony rides, train rides, and more. This area is open from 10 a.m. until 3 p.m. 

There will be a separate area on Fourth Ave. N. for bigger kids. Activities include bungie jumping, a mechanical bull and a spider web mountain.

If you love a good bowl of chili, don't forget to attend the Franklin Tomorrow Chili Cook-off on Third Ave. N. from 10:30 a.m. to 4 p.m. There are approximately 15 teams that compete. A $10 ticket gives you an opportunity to sample all 15 chilis and then vote for the best one. You can't have chili without beer so that will be available for purchase as well.

For those who enjoy music, there will be two stages offering continuous entertainment. At 5 p.m., there will be a teenage Battle of the Bands which is also produced by The People's Church. The winners receive a $500 cash prize. 

If dancing is your thing, swing dance on the public square begins at 4;45 p.m.

There will be more than 75 food and craft vendors offering a variety of arts, crafts, jewelery and specialty food items. Booths are open from 10 a.m. to 6 p.m.

Other events include the appearance of The Great Pumpkin, costume contest for kids and pets and pumpkin carving contest.

As the Franklin TN biggest festival of the year, expect parking in downtown Franklin to be difficult. Instead park at The People's Church or Harlinsdale Farm and ride the trolley for $1 each way. Pets and strollers are not permitted on the trolley.

For further details, visit Downtown Franklin Events.

Courtesy of Tammie White, TW Realty Group in Franklin TN (615) 495-0752.

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Tammie White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 495-0752 Direct
Email: Tammie@TWRealtyGroup.net
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Benchmark Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tammiewhite2
Hire a Franklin TN Agent Who Goes Above and Beyond to Sell Your Home
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

There is so much more to selling real estate these days. Be sure to hire a Franklin TN agent who goes above and beyond to sell your home. Sellers need to know their agent can handle tough situations as they arise. I can tell you from experience, things will arise. I've helped many clients overcome obstacles to get their home closed. Below is just one of the many ways I have gone above and beyond to help homeowners achieve their goal of successfully selling their home.

A couple of years ago, I had a listing with a ventless fireplace. The fireplace had once been connected to an exterior propane tank. However, the seller had disconnected and removed the tank many years earlier.

Hire a Franklin TN Agent Who Goes Above and Beyond to Sell Your HomeThe buyer wanted to test the fireplace logs during the home inspection. I suggested the home inspector bring a 20-lb propane tank with him to test the logs. Unfortunately, the inspector discovered the gas line didn't have a flange to connect to the portable propane tank. The buyer made it a condition of the home inspection that either we prove the fireplace logs worked or replace them.

My seller called the propane company to have them come out. They told her they could do it but it would be a week and cost her $250.

Not only did the cost seem excessive, if the unit didn't work, the propane company wasn't going to be able to tell us what was wrong with the gas logs. There had to be a way to prove these gas fireplace logs were working.

First, I got the name of the fireplace manufacturer from my seller. I Googled the company name and discovered they were located in Manchester TN. I called there and found they were no longer in business. Once again, I Googled fireplace centers in Franklin TN and Nashville Fireplace popped up.

I called Nashville Fireplace and explained the situation. They would be able to help us but couldn't get out to the seller's house for a week. We were scheduled to close in five days. So I asked if there was anyway to get the gas logs to him? Yes, just use a crescent wrench to remove them.

Tom and I jumped into the car and drove to the seller's house (she was an elderly woman and had no one to do it for her). He was able to disconnect the gas logs in just minutes. We then headed over to Nashville Fireplace. 

Hire a Franklin TN Agent Who Goes Above and Beyond to Sell Your Home

The gas logs hadn't been used in five years, so Ken Fargason gave them a good cleaning. He lit the pilot light and turned on the logs. They lit up in seconds. Ken tested the gas logs on all four settings. Everything was in good working condition. He provided me with written verification and a photo of the working logs. The best part--it only cost $57. Crisis averted.

The point of this post...things come up. Problems occur. Make sure you hire a Franklin TN agent who goes above and beyond to sell your home. 

When you're ready to sell your home, contact Tammie White at (615) 495-0752.

************************************************************************************ 
 
Tammie White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 495-0752 Direct
Email: Tammie@TWRealtyGroup.net
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Benchmark Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tammiewhite2
Buying a Franklin TN Home? Know Your Closing Costs and Pre-Paids
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

You've finally done it. You've found the one. You sit down with your Buyer's Agent to write an offer and you suddenly realize there's a lot more to buying a house than you thought. The agent starts to ask you about the terms of the contract.

Terms? What are those?

Buyers Tips: What are Closing Costs and Pre-paids?Terms go far beyond just what you want to pay for a home. They include price, closing date, financing contingencies, appraisal contingencies, sale of home contingencies, and home inspection contingencies. These are just a few of the possible contract contingencies.

As a buyer, you have the option to ask the seller to pay for some of your costs associated with the purchase of a house. An example of costs you might incur other than the purchase price are: lenders fees, title work, survey, closing costs, prorated property taxes, pre-paids, termite inspection and home warranty.

This is when you need a good Buyer's Agent representing your interests. If you don't have a good Buyer's Agent, it could end up costing you a lot of money.

Terms you should know prior to writing an offer include:

CLOSING COSTS:  Closing costs are charges for services rendered by the various companies involved to bring your home loan to the closing table. Closing costs may vary from lender to lender and loan program to loan program. Closing costs include items such as credit report, appraisal, processing fees, lender fees, title fees, owner title policies and search, attorney fees and city transfer taxes. Additional settlement charges may include termite inspections, home warranties and credits for repairs.
PRE-PAID ITEMS:  Pre-paids are those items required by the lender to be paid in advance. They include mortgage interest, one year homeowner's insurance premium plus an additional 2-3 months to be held in escrow, flood insurance (if applicable), and private mortgage insurance (PMI), (if applicable). They also include prepayment of city and county taxes.
PRORATION OF TAXES:  Pro-ration of taxes is a division of the property tax bill determined by the closing date. The pro-ration of taxes is not considered a closing cost or pre-paid item but it will show up on the settlement statement at closing. If will be referred to as Reserves Deposited with Lender. These expenses are held in an escrow account by your lender to be paid at a later date. 

Buyers Tips: What are Closing Costs and Pre-paids?The above costs usually total 3% of the purchase price. If you are buying a $150,000 home, the closing costs, pre-paids and prorated taxes would be approximately $4,500. You can request the seller pay any or all of these fees. This is important to know.

Closing costs and pre-paids must be paid in cash via a Cashier's Check at the closing. They cannot be rolled into the loan. Many home sales don't go through because buyers didn't fully understand what their financial responsibilities were prior to closing.

If you are purchasing a home as a FHA/VA buyer, there will be an additional funding fee which can be rolled into the loan.

As a Buyer's Agent, I normally encourage buyers to request the seller pay 3% of the purchase price towards closing costs and pre-paids. This reduces the amount of money the buyer must bring to the closing. However, in a hot market, there may be additional competition for a house. A request for closing costs may impact the final outcome.

Your buyer's agent should review the pros and cons of asking for closing costs. Should you decide to request closing costs, be sure it's properly worded in the Sales and Purchase Agreement Offer. Remember, the seller doesn't have to pay any portion of the closing costs and prepaids just because you requested them. Like everything else in the sales contract, these items are negotiable.

When you're ready to buy your Franklin TN home, contact Tammie White at (615) 495-0752.

Buying a Frankin TN home? Know Your Closing Costs and Pre-paids.

************************************************************************************ 
 
Tammie White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 495-0752 Direct
Email: Tammie@TWRealtyGroup.net
 
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tammie White of Benchmark Realty LLC. Any party who uses this material without the permission of Tammie White is subject to copyright infringement and possible lawsuit.
Tomwhite
Fun at the Ryman Auditorium in Nashville TN
Tom White, TW Realty Group, Franklin TN--South of Nashville (Benchmark Realty, LLC (615) 870-8169 or www.TWRealtyGroup.net)

Fun at the Ryman Auditorium in Nashville TN

Last night my daughter Lindsey and I went to the Ryman Auditorium in Nashville TN to see The Piano Guys. It was a fabulous show!  One of the great benefits of living in Franklin TN is that Nashville is just a short 30 minute drive away.

Fun at the Ryman AuditoriumThe Ryman Auditorium, dubbed the Mother Church of Country Music, was built in the 1890's as a great Gospel Tabernacle. Through the years it served as a church and as a stage for an incredible variety of speakers and performers. Everyone from Teddy Roosevelt and Sarah Bernhardt to Lester Flatt and Johnny Cash have taken to this stage to entertain audiences and experience its amazing acoustics. 

We sat in the balcony (on the same old original church pews!) and had a wonderful view of the stage while the Piano Guys performed.

They are on tour right now and will be visiting many venues across the country until Christmas. If you have a chance to see them, I guarantee you'll walk away thrilled that you experienced their special take on popular and classical music. It'a WOW!

If you haven't ever seen or heard of them before check out this video.

 

 


TW Realty Group
 
Tom White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 870-8169
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Benchmark Realty LLC. Any party who uses this material without the written permission of Tom White is subject to copyright infringement and possible lawsuit.
Tomwhite
How Much Will I Pay For a Franklin TN Condo/Townhome? August 2014
Tom White, TW Realty Group, Franklin TN--South of Nashville (Benchmark Realty, LLC (615) 870-8169 or www.TWRealtyGroup.net)

How Much Will I Pay For A Franklin TN Condo/Townhome? August 2014 

The size of the unit, the condition of the unit and its location are primary factors in considering what you will pay for a Franklin TN condo or townhome. In addition, and of great importance to you, is whether prices are going up or down, or whether it's a buyer's market or a seller's market. To understand these factors you need to look at a current market report.

 

  • How Much Will I Pay For A Franklin TN Condo/Townhome | August 2014Active condo/townhomes listings: 60
  • Of those units currently on the market, the number under contract: 13
  • Properties closed in August: 22
  • Average sales price: $236,695
  • Average list price: $241,471
  • Average sales price to list price ratio: 98.0%
  • Average days on the market: 50
  • Average per SF price: $154.20
  • Lowest per SF price: $104.92 (Brentwood Point)
  • Highest per SF price: $256.75 (Grant Park)

What does all this mean for buyers? Is it a buyer's market or a seller's market? This will greatly affect the extent to which you will be in competition with other buyers.

To determine that, we use absorption rate. If you take the current inventory of 60 homes and divide that by last month's closed sales (60/22) you get 2.73 months. That means if the current inventory stayed the same, it would take about 2 3/4 months to sell all the existing homes.  A normal or steady market would be 5-7 months; anything under 5 months would be considered a seller's market; anything over 7 months would be considered a buyer's market.

The Franklin TN condo and townhome sales for August reflect a seller's market. The low inventory compared to the steady demand continues to drive the market upward. Over the last year, prices on condos and townhomes have risen an average of 10%.

The sales price to list price ratio remains at a high level (98.0%).  This means that if a unit is "priced right",  you may be somewhat limited in your ability to negotiate. This varies greatly from unit to unit and and from development to development. It is extremely important to enlist the aid of an experienced buyer's agent to help you pay no more than you should for the condo or townhome you desire.

I've included the lowest and highest square foot prices for units sold in August, and the names of those developments. If you click on those developments you’ll find their current listings.

In this market, buyers need to act very quickly to secure the home they desire--speed is of the essence. TW Realty Group is here to help.

When you are ready to buy a Franklin TN condo or townhome, contact Tom White of TW Realty Group at (615) 870-8169.


TW Realty Group
 
Tom White, REALTOR®
TW Realty Group
Benchmark Realty LLC
318 Seaboard Lane
Franklin TN 37067
(615) 870-8169
 
This posting with the content written here and photographs displayed are the intellectual property and opinions of Tom White of Benchmark Realty LLC. Any party who uses this material without the written permission of Tom White is subject to copyright infringement and possible lawsuit.
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