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Wednesday, 13 December 2017
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Monday, 11 December 2017
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Tax plan could really hurt Nashville real estate market

 

“Realtors: Senate-passed Tax Legislation Bad News for Homeowners,” reads a recent headline from the National Association of Realtors. Lest this spawn a political debate, it should be noted that NAR’s membership is 1.3 million strong and that its PAC raises and disburses millions and million of dollars each year, and that those dollars are usually almost evenly split between the two major parties.

Based on what we have seen, the big money must be on the other side of this issue.

NAR cares not about Republicans and Democrats. Its focus is homeownership and Realtors. Its resources are infinite, and its research thorough.

And the association says the bill “puts homeowners at risk.” Senator Bob Corker, as anyone who follows these things knows, voted against the bill. For those who are missing a program, Corker is a Republican.

NAR president Elizabeth Mendenhall, a sixth generation Realtor from Columbia, Missouri, offered strong concerns over the bill and said the Realtors will continue work with members of the House and Senate as the process moves forward into a conference committee. She says there is hope in Senate/House reconciliation.

Her statement is alarming: “The tax incentives to own a home are baked into overall value of homes in every state and territory across the country. When those incentives are nullified in the way this bill provides, our estimates show that home values stand to fall by an average of more than 10 percent, and even higher in high-cost areas.” By the way, Nashville would be considered a “high-cost area.”

Mendenhall says the NAR supports tax cuts “when done in a fiscally responsible way.”

This bill, however, could cause many homeowners “to see a tax increase,” Mendenhall says, adding “In exchange for that, they’ll also see much, or all of their home equity evaporate as the $1.5 trillion is added to the national debt and piled upon the backs of our children and grandchildren.”

There are 75 million homeowners out there.

Many have wondered what could cause the city’s growth to slow. Perhaps this is it.

Thirty-one years ago, when the Tax Reform Act of 1986 passed, there was celebration in Washington among those who passed the legislation. While I write about it in negative terms, there are those who feel it was helpful.

But, they were not in attendance in Resolution Trust Corporation auctions the banquet halls of local hotels. There were condos listed on large Post-it notes easels with prices beginning at $25,000 for 1,200-square-foot condos across the area.

One of the attendees bought a condominium on a credit card, never dreaming that he would buy anything at the auction. Pay down those balances and raise the credit limits, there may be some bargains to be had.

Sale of the Week

One of Nashville’s top Realtors is Village’s Virginia Degerberg, whose sales prowess is understandable considering she cut her teeth selling air time at local radio stations. After selling the verbal ramblings of air personalities from Gerry House to Carl P. Mayfield, she broke into real estate and sold more than any other new agent in the Greater Nashville area that year.

She has continued to prosper and recently sold a house in West Meade – some people call it West Meade, Degerberg calls it Harding Park – and garnered some $1,726,000 for its 6,652 square feet. With five bedrooms, five full baths and a couple of half bathrooms, it has three garage bays and rests upon .62 acres.

Degerberg described the house as “light-filled with amazing outdoor space” and noted the outdoor gas grill had been “totally redone.” Also included in the sale were new kitchen appliances and a media room with a “movie screen and a new projector.”

Located at 120 Laird Road, the $1.7 million price tag is robust. Houses with spectacular kitchens, some sizzle in the bedroom and outdoor areas will command that number.

Barbara Keith Payne of the Pilkerton Company represented the buyer and beat the others to the punch with the house going under contract three days after Degerberg listed it for $1.75 million.

With a new roof, gutters, water heaters and HVACs, the home is virtually new.

A speaker once said that when a person precedes a claim with the word virtually, what follows in generally not true. Of note is that at one time this was the home of Daisy King of Miss Daisy fame. While Daisy King is driven, she is not famous for that. Rather she is a relentless chef, cookbook author, caterer, and philanthropist, one of the area’s true characters.

Richard Courtney is a real estate broker with Christianson, Patterson, Courtney, and Association and can be reached at richard@richardcourtney.com.

https://www.tnledger.com/editorial/Article.aspx?id=102468

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Posted on 12/11/2017 4:09 PM by tiffany olson
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Wednesday, 29 November 2017
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Don’t expect the Nashville area’s housing market to cool off much in 2018 — the National Association of Realtors' 2018 National Housing Forecast expects the area to be among the country’s top 10 housing markets next year.


RICHLEGGDon’t expect the Nashville area’s housing market to cool off much in 2018 — the National Association of Realtors' 2018 National Housing Forecast expects the area to be among the country’s top 10 housing markets next year.

By   –  Managing Editor, Nashville Business Journal

Don’t expect the Nashville area’s housing market to cool off much in 2018 — the National Association of Realtors' 2018 National Housing Forecast expects the area to be among the country’s top 10 housing markets next year.

Based on expected gains in prices and number of sales, the Nashville MSA ranks No. 9 in the association’s forecast, which is topped by Las Vegas.

Through the first 10 months of 2017, there have been 34,059 closings in the Nashville area, an increase of 4.2 percent compared to 2016, according to the Greater Nashville Realtors.

Realtor.com’s full housing forecast is available here.

 

https://www.bizjournals.com/nashville/news/2017/11/29/nashville-expected-to-be-a-top-10-housing-market.html

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Posted on 11/29/2017 2:11 PM by tiffany olson
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Friday, 17 November 2017
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3365 Hospital Ln, Nashville, TN 37218

https://www.realtor.com/realestateandhomes-detail/3365-Hospital-Ln_Nashville_TN_37218_M82950-39443?cid=soc_shares_ldp_fb

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Posted on 11/17/2017 2:03 PM by tiffany olson
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Thursday, 16 November 2017
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https://www.oldhousedreams.com/2017/11/07/1887-fort-scott-ks/

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Posted on 11/16/2017 2:10 PM by tiffany olson
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Thursday, 02 November 2017
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1725 Bastante Ct, Nolensville, TN 37135

https://www.realtor.com/realestateandhomes-detail/1725-Bastante-Ct_Nolensville_TN_37135_M71245-06895?cid=soc_shares_ldp_fb

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Posted on 11/02/2017 7:35 PM by tiffany olson
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Thursday, 19 October 2017
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1164 B Greenland Ave, Nashville, TN 37216

https://www.realtor.com/realestateandhomes-detail/1164B-Greenland-Ave_Nashville_TN_37216_M89968-93239?cid=soc_shares_ldp_fb

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Posted on 10/19/2017 7:33 PM by tiffany olson
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Thursday, 19 October 2017
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Check out our May Newsletter - MODS International

http://lightersideofrealestate.com/around-the-home/architecture/amazon-will-deliver-tiny-house-right-door

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Posted on 10/19/2017 7:49 AM by Tiffany Olson
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Sunday, 15 October 2017
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Follow this link...

https://www.facebook.com/TennesseePAC/videos/10156517885093521/

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Posted on 10/15/2017 7:46 AM by Tiffany Olson
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Thursday, 12 October 2017
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'Tall skinny' takeover: Which Nashville neighborhoods are doubling up after demolition

, USA TODAY NETWORK – TennesseePublished 6:00 a.m. CT Oct. 12, 2017 | Updated 4:40 p.m. CT Oct. 12, 2017
 

From his office above a Whole Foods store in upscale Green Hills, John Brittle Jr. and his team of agents target the next affordable Nashville neighborhood for redevelopment.

Brittle, a broker with Parks Realty, is called the “Infill King.” His developer clients rely on him to spot bargain older homes, which they tear down and replace with bigger, more expensive properties.

“For 30 years, real estate agents have been talking about the TSU and Fisk areas,” Brittle said, referring to the neighborhoods surrounding Tennessee State University and Fisk University, two of Nashville's historically black institutions. “We’re going to see some beautiful stuff there.”

Investors and builders have transformed entire neighborhoods in recent years as Nashville’s appetite for homes soared. Countywide, nearly half of all properties with single structures demolished and new construction approved had two or more residential buildings planned for the lot, according to a Tennessean analysis of Metro Nashville permit data.

The familiar scene replays throughout the urban core: Multiple modern, three-story homes replace one-story brick houses. Some derelict homes are demolished and property taxes flow into city coffers. Meanwhile, long-time neighbors live with construction dust, noise, blocked sunlight and changing faces — until they too move, often outside the city. 

“Some people don’t like what we do,” said Brittle, who wishes city regulations would allow for denser, less expensive development. “But the fact of the matter is that the market demands this. People are wanting to move into these neighborhoods.”

Metro Nashville issued 962 residential demolition permits in 2015 and 1,035 in 2016 — nearly three houses a day. That rate has cooled off by 10 percent in 2017, but the rapid redevelopment has left many residents wondering what is happening to their city. 

The Tennessean analyzed building permit data from the past three years to see where most residential demolitions happened, and what was being built in their place.

The 37209 zip code that includes The Nations and Sylvan Park had the most residential demolitions, with 583 between September 2014 and September 2017. At those properties, 376 had approval for new housing. And on those lots, builders obtained 608 new home permits. 

Nashville ZIP codes with most residential demolition permits, Sept. 2014 - Sept. 2017

  • 583 permits - 37209 (The Nations/Sylvan Park/Sylvan Heights)
  • 383 - 37206 (East Nashville)
  • 254 - 37208 (Germantown, North Nashville)
  • 251 - 37215 (Green Hills)

Source: Metro Nashville Codes Department data; Tennessean analysis

"You tear down the eyesore and build two nice houses in their place, and raise the property values," said George Lauderback, owner of L & S Construction Services, the company with the most permits to build on lots with recent demolitions.

Continue reading at:

http://www.tennessean.com/story/news/2017/10/12/nashville-housing-boom-redevelopment-strains-neighborhoods/694979001/?hootPostID=3717008ff0253ab992df2e743cecf784

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Posted on 10/12/2017 9:38 AM by Tiffany Olson
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Monday, 09 October 2017
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- Walkable to the proposed site of the new MLS soccer stadium
- 408 Mallory Street in Nashville's hottest neighborhood, Wedgewood Houston (WEHO)
- 750 sq ft house in poor shape; it could be rented or renovated although it is likely a tear down. Selling strictly AS-IS. Investor special...some foundation issues
- 37X105 lot allowing for a whole host of uses including residential & commercial
- Several $500K new homes being built across street - terrific deal for builder/investor
- House does have new flooring and new paint. Does not have central HVAC but has new window AC's
- House has living room, kitchen, 2 small bedrooms & bathroom
- On a quiet street VERY close to Vandy, Belmont, 12South, & Melrose
- Contact Mike at 615-414-3270 for more info or for a showing

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Posted on 10/09/2017 9:35 AM by Tiffany Olson
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Friday, 06 October 2017
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https://www.oldhousedreams.com/2017/10/05/1893-queen-anne-cuba-ny/

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Posted on 10/06/2017 9:33 AM by Tiffany Olson
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Thursday, 05 October 2017
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Completely renovated single family home (not attached) & walkable to both Melrose & 12South. New everything - electrical, plumbing, HVAC, duct work. High-end finishes all around with original hardwoods refinished, doors and hardware fully restored. WALK TO BOTH MELROSE & 12SOUTH SHOPPING & RESTAURANTS. 4th bedroom would make a great office, bonus room, media room, etc. A MUST SEE - $764,000. 

Contact listing agent, Mark Dunham, for more info. 615.428.1889 or dunhamhomes@gmail.com

 

https://www.facebook.com/postandcompany/videos/1474807162596699/

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Posted on 10/05/2017 6:49 AM by Tiffany Olson
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Monday, 02 October 2017
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Wednesday, 13 September 2017
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411 Compton Ln, Franklin, TN 37069

 

https://www.realtor.com/realestateandhomes-detail/411-Compton-Ln_Franklin_TN_37069_M70474-69448?cid=soc_shares_ldp_fb

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Posted on 09/13/2017 4:30 PM by Tiffany Olson
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Tuesday, 12 September 2017
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Each year at the end of summer, Post & Co. hosts a client appreciation picnic for our clients and friends. It is our way of saying "thank you" for the support, referrals, and friendship.

There is no talk of buying or selling, no "do you know how much your house is worth?" gimmick or real estate presentation. It is just a party with our friends.

It's always a great time! This year, nearly 200 friends and clients attended our annual picnic at First Tennessee Park. We hope you'll join us next year!

 

https://www.youtube.com/watch?v=x-UmYWoRahE&t=3s

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Posted on 09/12/2017 3:50 PM by Tiffany Olson
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Monday, 28 August 2017
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http://www.realtor.com/realestateandhomes-detail/3226-Moorewood-Dr_Nashville_TN_37207_M74205-15198?cid=soc_shares_ldp_fb

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Posted on 08/28/2017 2:59 PM by Tiffany Olson
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Monday, 28 August 2017
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Wednesday, 16 August 2017
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4315 ESTES - 4BR, 3BA, 3800 sq ft - $899K

* New master suite (on main level) with vaulted ceiling, gorgeous master bath with custom made double vanities, separate shower & tub, & custom walk-in closet
* Gourmet kitchen with Carrara marble counters new SS appliances
* Hardwood floors refinished in entire home
* High-end finishings (hardware, mirrors, & light fixtures) from Horchow, Restoration hardware and Iron Gate (all purchased separately....nothing is builder-grade)
* In last 5 years, home has new roof, new garage door, entire exterior of home repainted (just last month), new aluminum fencing & gate, new water heater, all new landscaping
* In-law or teen suite potential in lower level
* Stone's throw from Belle Meade but without the taxes
* Private backyard is flat & fenced
* Over $150K spent in last few years on renovations

Please call or text Mike Post with questions or if you would like to take a look - 615.414.3270

Photo

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Posted on 08/16/2017 5:29 PM by Tiffany Olson
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Monday, 14 August 2017
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http://www.realtor.com/realestateandhomes-detail/3226-Moorewood-Dr_Nashville_TN_37207_M74205-15198?cid=soc_shares_ldp_fb

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Posted on 08/14/2017 5:25 PM by Tiffany Olson
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