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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.
Tammiewhite2
Hire the Right Franklin TN Real Estate Agent to Market Your Home
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

Franklin TN has been in a seller's market for much of the year. That trend is continuing right into the Fall. That is good for home sellers. However, I am seeing a growing number of real estate agents who are bringing homes on the market before they are actually ready.

Hire the Right Franklin TN Real Estate Agent to Market Your HomeThese agents are including notations in the MLS with things like "the house is in the process of being painted, photos to be added later". Your house should be ready for showings the minute it hits the market.

Hiring the right Franklin real estate agent to market your home will determine if you get the best price in the least amount of time.

Here are just a few of the things you should expect from your agent:

1. Pricing recommendation -  Hire an agent who provides a thorough pricing recommendation based upon a Competitive Market Analysis (CMA). There is a common misconception that real estate agents determine the price of your home. Actually, the housing market determines the price of your home. What buyers have recently paid for a home similar to yours will determine the price of your home. An agent merely interprets this information. Your agent should be able to tell you the absorption rate for homes in your neighborhood, as well as, the surrounding area.

2. Professional photography - Hire an agent who provides professional photographs from the minute your house comes on the market. The MLS photographs have become your first showing. When these photos get syndicated to the national portals, you want them to show your home in its best light right away. Don't settle for sub-par listing photographs. Only hire an agent who uses a professional photographer.

3. Presentation - Hire an agent who provides staging assistance. Your house should be ready for showings the minute it hits the MLS. If the house doesn't look good or buyers can't get in to see it, you'll likely lose them. It must be presentable to buyers immediately. 

4. Pro-active marketing - Hire an agent who will use sources other than the MLS to market your home to the largest number of buyers. One who will provides pre-MLS marketing and premium online placement through a pro-active marketing plan. One who will entice buyers to not only see your home but make an offer on it.

Not all real estate agents are created equal. Do yourself a favor and make sure you hire the right agent the first time around or you may still be sitting in your house months from now.

When you are ready to hire the right Franklin TN real estate agent to market your home, contact Tammie White at (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
What Are You Marketing...Yourself or My Franklin TN Home?
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

What Are You Marketing...Yourself or My Franklin TN Home?

What are you marketing...Yourself or my Franklin TN home?I recently received correspondence from a potential seller. He had already met with one listing agent and said he got the sense from meeting with her that she was more interested in marketing herself than his property. His question to me, "What are you marketing--yourself or my Franklin TN home?"  I thought this was a reasonable question. Given the fact that all he's interested in is selling his house.

The short answer is both. However, I do it in a way that will benefit you, as the seller. You see many listing agents want to get their name out there. After all, the way to secure more listings is for everyone in the neighborhood to know they listed and sold your house.

This can usually be accomplished through postcard mailings, yard signs and blogging announcements. Oh, so you've heard of postcards and yard signs but you're wondering what a blog is.

This article is a blog post. I do write blog posts to announce my new listings, contracts pending and sold listings but in between those announcements, I do a whole lot of blogging about your home, market conditions and other items of interest to home buyers.

I will write about your neighborhood, the amenties found there and possibly even some of the events that take place. I write posts that focus on some of the wonderful features of your home.

When I write a blog here or on another venue, like my website, I do it in such a way that it brings attention to your home. That's why I use titles like Franklin TN Starter Home or Franklin TN Home for Sale with 3-Car Garage in Spencer Hall.

I use these terms because this is the way that buyers search. Rarely do buyers know the actual address of a home. Most of the time, buyers search for desired features or price or neighborhood to find their new home. I use similar terms to rank in the search engines.

When I'm more visible in the Google rankings, then more people click on my blog posts and possibly from there to my website. If I don't provide the information they are looking for, they will click away from my blog post or website before they even get a chance to see your beautiful home.

Buyers aren't interested in seeing just one property. They want to see many properties all in one location. They also want useful information about the area and tips on buying and selling homes. I use a multitude of ways to get them to my website, including writing blogs, using single property websites and off-line marketing enticing buyers to visit www.TWRealtyGroup.net.

When buyers go to my blog, website or even a single property website and can't find anything of interest, they will click away and move to another site. This may decrease the chances of getting your home sold.

What are You Marketing...Yourself or My Franklin TN House?So you see, by bringing attention to me, you benefit. Because the more people who see my blog and click through to my website, the better chance we have of getting your house sold.

Buyers and sellers want lots of information in one location. Otherwise, they click off that site and move onto another. Providing valuable home searches, information about the area, and useful tips about buying and selling homes, keeps them on my website.

The end result...marketing myself, my services and our community, benefits you. It just may be what gets your property sold.

When you are ready to sell your Franklin TN 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
What's My Franklin TN Luxury Home Worth? Market Report for July 2014
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

What's My Franklin TN Luxury Home Worth? Market Report for July 2014

  • Franklin TN Luxury Homes Market Report for June 2014Properties currently Active on the market: 103
  • Single-family properties closed in July: 7
  • Average sales price: $1,243,571
  • Average list price: $1,309,571
  • Average sales price to list price ratio: 95%
  • Average days on the market: 158
  • Pending sales: 7
  • Franklin TN Luxury Homes absorption rate: 14.7 months of inventory (a normal or steady market would be 5-7 months, a buyer's market would be in excess of 7 months, and a seller's market would be less than 5 months)

Franklin TN Luxury homes market report for July 2014 reflects an extreme buyer's market. With 14.7 months of inventory and 158 average days on the market, sellers should expect to sit on the market for awhile due to the reduced number of buyers at this price point.

Wondering what your Franklin TN luxury home is worth? Click the photo below to be taken to an instant property valuation report.

What's My Franklin TN Luxury Home Worth? Market Report for June 2014

For those who want to see their Franklin TN luxury home sell quickly, pricing it right when it first comes on the market is crucial. You will often see homes constantly re-listed at this price point. It's best just to price them right from the beginning.

The least expensive Franklin TN luxury home sold was 5,880 square feet built in 2012 and sold for $1,125,000 in Westhaven. It was listed for $1,188,000. The most expensive sale was 3,362 square feet historic bungalow on 3 acres in Historic Franklin for $1,350,000. It was originally listed for $1.4M. Luxury homes are currently priced between $1,025,000 to $30M.

Marketing your luxury home to buyers across the country will be an important part of achieving success in selling your Franklin TN luxury home. With 92% of buyers beginning their home search on the internet, you need your home to have the best coverage possible. This goes far beyond just syndicating your home to other websites.

Curious what this type of marketing looks like? Just click the link for an example of a post I wrote about a luxury home, Simply Charming Country Home in Leiper's Fork. This home is no longer available but this is the the type of internet marketing that can set your home apart from all the others.

At TW Realty Group, we use the latest technology so your home is seen by a large pool of buyers, including buyers outside our local market. We do this through the use of social media and blogging. Something you rarely find in the Franklin luxury housing market.

Visit our website, www.FranklinTNHomesforSaleOnline.com.  It's easy to see why our site gets thousands of clicks each month. This provides your listing with exposure to home buyers all over the country.

When you are ready to sell your Franklin TN luxury 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
Absorption Rate Determines Franklin TN Housing Market Condition, Not DOM
Tammie White, Franklin TN, South of Nashville (Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net)

Today, I read a Franklin TN market report that was written by a local agent. In that report, the agent stated that days on market (DOM) determine whether we are in a buyer's market or a seller's market. That simply isn't true.

Buyer's market? Seller's market? Absorption rate determines Franklin TN housing market conditions, not DOM. The absorption rate signifies how long it will take to sell the existing homes on the market based upon the most recent sales data. Or how long it will take for the active listings to be absorbed by buyers.

Absorption rate is determined by using a simple mathematical equation. Take the existing housing inventory and divide it by the most recent month of closed sales. As an example, there are currently 768 active listings in Franklin. Take that number and divide it by the most recent month of closed sales (July 2014) which is 238 (768/238). That number equals 3.2. That means at the current rate of sales, it will take 3.2 months to sell the existing housing inventory in Franklin.

The next question: Is 3.2 months a buyer's market or a seller's market? Anything under 5 months of inventory is considered a seller's market. A normal or steady market is 5 to 7 months of inventory and a buyer's market is anything in excess of 7 months of inventory. Do the days on market (DOM) matter? They do but they don't determine whether your area is in a buyer's market or a seller's market. Let me explain.  

We produce many market reports every month for Franklin neighborhoods. We do this to give sellers an indication of how long we believe it will take to sell their house if we've priced it right and properly prepared it for market. Let's take a recent market report prepared for Cedarmont Farms.

As you can see, Cedarmont Farms is experiencing an extreme seller's market. However, the average days on the market were 107 Days. How can it be that Cedarmont Farms is in an extreme seller's market and has so many DOM?

1.  At the time of this report, there wasn't any existing housing inventory and the most recent month of sales, suggested that buyers were interested in buying in this neighborhood. Since there is less than 5 months of inventory, Cedarmont Farms is in an extreme seller's market (less than 2 months of inventory).

2.  The DOM indicates that one house was on the market for more than 300 days. How can that be if Cedarmont Farms is in an extreme seller's market? This 300 days suggests that the house was overpriced when it came on the market 300 days ago. This seller reduced the price to finally get it sold. That's why the average sales price to list price ratio is lower than most neighborhoods experiencing an extreme seller's market in Franklin right now. The house was priced too high from the beginning.

All of these numbers work together to help sellers determine a good listing price if they want to sell their home in 30 days or less.  Absorption rate determines Franklin TN housing market conditions, not DOM.

Not all market reports are created equal. Make sure the Franklin housing data actually supports the claims made about the current housing market. When you are ready to sell your Franklin home

call Tammie White at (615) 495-0752 today!

Originally posted: http://www.franklintnhomesforsaleonline.com/blog/absorption-rate-determines-franklin-tn-housing-market/

************************************************************************************ 
 
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
Franklin TN Condo and Townhome Market Trends 2014
Tom White, TW Realty Group, Franklin TN--South of Nashville (Benchmark Realty, LLC (615) 870-8169 or www.TWRealtyGroup.net)

Franklin TN Condo and Townhome Market Trends 2014

If you're considering the purchase or sale of a Franklin TN Condo or Townhome, you need to understand what's going on in the market. Knowing what's happening in the market will help you play an active, educated role in working with your REALTOR® to price your home to sell quickly, or to make a sound offer on the home you want to purchase.

The Condo and Townhome market in Franklin TN is relatively small compared to the single family detached home market. In July, 2014, there were 775 single family detached homes on the market. At the same time there were only 65 Condos and Townhomes listed in the local Multiple Listing Service (MLS). Fewer homes gives us less data to work with when we're trying to understand if there are trends evident in the market. For that reason, I'm using quarters of a year (three month segments), rather than monthly data over the past 2 1/2 years, to examine the market.

Prices of Condos and Townhomes in Franklin TN have inched upward over the past 30 months.

Franklin TN Condo and Townhome Market Trends 2014

In fact, even with some seasonal fluctuation, the Median Sales Price of Condo and Townhomes has increased over 11% from 2012 to the middle of 2014. Simply put, prices are going up.

Let's turn now to another indicator of market trends, the Sales Price to List Price Ratio. Why is this important? If you are buying a Franklin TN Condo or Townhome, and your Realtor has told you the property is "priced right", how close to asking will your offer need to be to have a reasonable chance of being accepted?

Franklin TN Condo and Townhome Market Trends 2014

Again recognizing that there will always be some seasonal fluctuations in the market, we see that in early 2012 the ratio was around 95%. In the middle of 2014, the sales price to list price ratio is close to 99%. What this means is that if the property is priced right according to your agent, you can expect to pay very close to asking price for a property. One more reason to hire an experienced, qualified REALTOR® who really understands the market!

The next market indicator we'll take a look at is "Days on Market" or DOM. This is important because it helps us gauge the demand for homes in the housing market. When demand is high, homes do not stay on the market very long. 

FranklinTN Condo and Townhome Market Trends 2014

The median Days on Market for Franklin TN Condos and Townhomes has steadily decreased over the last 10 quarters or 30 months. From a high of 101 days at the beginning of 2012 to 47 in the second quarter of 2014, the DOM has decreased dramatically. What this means is that buyers in the Franklin TN Condo and Townhome Market in 2014 must act quickly if they want to purchase that home they have dreamed of owning!   

This is a lot of information in a format that many people find...difficult. What does it mean? It means we're in a hot seller's market--and indicators suggest it is getting hotter!

The bottom line is that if you are buying or selling, you need the advice and assistance of a knowledgeable REALTOR®. With TW Realty Group you know that you're getting agents who understand the Franklin TN Condo and Townhome Market Trends 2014. Call Tom White at TW Realty Group today 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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