Daily, I hear of Home Buyers in Middle Tennessee not finding the houses on the market fitting their wants and needs.
Sure! There ARE houses on the market, and the inventory is showing some signs of loosening up thereby giving Buyers more options to consider, BUT . . .
Lots of what’s out there isn’t all that interesting to many Buyers who aren’t interested in the “Tall Skinny” in-fill new houses (virtually the ONLY option for new construction in most areas), and many of the resale houses seem to be overpriced and/or under-conditioned (Need some TLC).
As I consult with agents and clients, I am encouraging them to do some visioning work.
The principles have not changed . . .
Start with Financial Pre-qualification.
Determine preferred LOCATION LOCATION LOCATION . . .
Get a read on what’s available in that location and assess how well the budget aligns with what’s out there.
In most areas, there are only 3 types of property . . .
- Resale Houses that need up-dating/renovation
- Resale Houses that have already been up-dated/renovated
- New Construction
The frustrated Buyers are frustrated because they are not liking any of the 3 options available within their price parameters.
My “Hot Tip” for the day is: If you don’t like what you see out there, buy a house that needs updating in your perfect location and think of it as your blank canvass to create your Dream Home.
The tricky part is that you might need to start looking at houses priced significantly lower than your qualification affording the gap you’ll need to pay for the up-dates AND for the finished house to be commensurate with other houses in the neighborhood.
It helps for Buyers to understand the importance of this “Visioning” such that they can see THEIR dream home on THAT perfect lot.
The Sellers and Listing agents also need to “Get” this concept such that their marketing presentation focuses on the real “problem” their probable Buyer has.
I have a perfect example . . . and imagine this . . . It’s my own new listing in the Oh-So-Desirable City of Oak Hill – Nashville – priced at the Oh-So-Palatable price $744,000
5025 Franklin Pike Nashville, TN 37220 – Click the link for Information and additional pictures
The LOCATION is PERFECT! Nestled Between Green Hills and Brentwood and literally a stone’s throw from I-65. Radnor Lake is just down the street. For anyone who wants to be NEAR town but not IN town, this location couldn’t be better. Just ask ANYONE living in Nashville now . . . Our traffic is HORRIBLE, yet this house is near the “Back Roads Network” that neutralizes traffic woes for commuters to downtown.
The lot is nothing short of magical. This is a 2 acre LEVEL,corner lot with lots of beautiful, mature trees. This provides a level of privacy that’s extremely difficult to find . . . and so much versatility. Many other houses nearby are in the $2,000,000+ price range, so the sky’s the limit when it comes to investing in renovation and/or expansion. One interesting idea would be to reclaim the current driveway as yard and re-orient the house towards the Side street.
For sure, there are ample car parking possibilities with 4 car Garage Parking PLUS a 1 car carport. Additionally, more versatility in the form of an 800 SF workshop which could be anything you want it to be – Studio – Rec Room – Pool house (great lot to add a pool behind the house to create your own oasis).
This is a location, lot, and house that offers a “Versatility Advantage” that is sure to solve the problem for any discriminating Home Buyer in Nashville.
Are you with me?
There’s good news . . . We are having a Public OPEN HOUSE this Sunday 9/11/2016 from 2-4 PM, so you can view the house and walk the lot and form your vision of your dream home.
Of course, if you are not able to attend the Open House, please connect with me to schedule your private showing – 615-568-2123 – Barry@paretorealty.com