Franklin TN and Nashville TN Real Estate News November 2009

Hi Friends, Happy Thanksgiving!  I hope you and your family and friends have a wonderful Thanksgiving holiday, and for many of you, a good break from work!  I’ll be in town, celebrating with my parents and brother and his family.  I’ll be watching for your posts about Turkey and funny family jokes on Facebook.  If we aren’t “Friends” on Facebook and you are already connected there, find me so we can connect.  To find it directly, you can go to this link, www.facebook.com/monica.neubauer .  I post lots of fun stuff and interesting Real Estate news when I have it. I’ve been watching the local market news.  2009 has been a bit of a challenge for real estate in Middle TN.  However, October and November show some “up” numbers .  How many months constitute a trend?  We hope we are trending upwards.  This month ends the “old” deadline for the First Time Homebuyer Tax Credit, so we expect some of this volume that is higher than 2008 is a reflection of the Tax Credit and people taking advantage of the Credit.  And hopefully the increases will continue.  The Tax Credit has been extended and enlarged. Click Here for information about the New Tax Credit.  And you can check out this link too. This is still an $8000 credit for First Time Homebuyers, and it also has a $6,500 Tax Credit for current homeowners who want to move and buy a different house.  You would have needed to live in your current house for at least 5 consecutive years out of the last 8 years to qualify.  There are also income restrictions, but they are fairly high for our market.   One of the questions that seem to come up fairly often is, “What is going to happen to Spring Hill when the plant closes this month? ”  The obvious answer is that we will have to wait and see.  I have a number of friends and acquaintances who work at the GM plant or know people who do.  I have heard so many different responses to their own personal journeys that I have some thoughts about it.  First, not all the employees live in Spring Hill.  Many live in Franklin and Columbia and other areas.  So, even if everyone did move – the effect would be across several towns.  But I am not hearing about people moving right away.  A good number of the folks have decided to take retirement.  Some of them will stay here because they like it or have found other work.  Some of those retiring will move, but not necessarily right away – they may have flexibility in their plans.  840 workers will be offered jobs in Michigan and most, if not all, of those jobs will be taken, but I know of at least one family where the GM employee  will work in Michigan and they will still keep their house here, making a temporary move.  For some folks, Michigan is home and moving back might be what they want. Some will start new small businesses and some will find jobs in other industries here.  I am not hearing of a mass exodus of GM workers.  Not yet, anyway.  If someone knows otherwise, let me know.  I am interested to hear any updates.  We will know over the next few months as the workers transferring to Michigan will be leaving from February through April 2010. And, of course, the plant is still there – waiting for a new job to do and people to do that job. I have attached links to the Williamson County Association of Realtors and the Greater Nashville Association of Realtors updates of recent closing numbers.  You can see that September was not too active, and October was active – better than 2008.  I have taken a look at the upcoming November numbers and they look like an improvement over 2008, at the least.  And hopefully we will see an upward trend. If you have questions about your home or your situation, please call me.  Sometimes, getting answers to questions can help you see through the fog of housing options you might be considering.  I can help with local information about your subdivision.  If you are finding your payment is a little high, we can discuss options for you.  I am glad to help out with information whether you are selling or not. October Williamson County News http://www.williamsoncountyrealtors.org/News/Article/47.aspx September Williamson County News http://www.williamsoncountyrealtors.org/News/Article/46.aspx Greater Nashville Numbers for 2009 http://gnar.org/09mlsmonthly.htm Greater Nashville October Comparisons http://gnar.org/mlsrelease.htm You may have noticed a different logo on my newsletter.  I have made a change to Benchmark Realty in Cool Springs.  Like others in all businesses, I have reviewed my business and needed to make a change.  You can be assured that you will have the same great service as always! I hope you have a great weekend!!   Monica Monica Neubauer, Broker Benchmark Realty 7127 Crossroads Blvd, Suite 102 Brentwood, TN 37027 615-568-8384 Cell 615-371-1544 Office www.RealEstateTennessee.com www.FranklinTNBlog.com Accredited Buyer Representative (ABR) Senior Real Estate Specialist (SRES) Certified Residential Specialist (CRS) Green

 

Franklin, TN Homes for Sale – 407 Fontaine Dr.

Monica Neubauer | Keller Williams | 615-568-8384 407 Fontaine Dr., Franklin, TN Large house with spacious backyard. 4 Bedrooms, Office, 3 Living Areas! 4BR/2.5BA Single Family House   offered at $339,500 Year Built 1995 Sq Footage 3,016 Bedrooms 4 Bathrooms 2 full, 1 partial Floors 2 Parking 2 Car garage Lot Size 18,741 sqft HOA/Maint $47 per month DESCRIPTION      Do you need lots of space? This house has it. Large kitchen with large windows overlooking mature trees in the backyard. Office in the front of the house. Master closet has professional organizers in it. Sidewalks and pool in the neighborhood. Close to schools, parks, shopping.   see additional photos below PROPERTY FEATURES     • Central A/C • Central heat • Fireplace • Walk-in closet • Hardwood floor • Family room • Living room • Bonus/Rec room • Office/Den • Dining room • Breakfast nook • Dishwasher • Stove/Oven • Microwave • Laundry area – inside • Balcony, Deck, or Patio • Yard   COMMUNITY FEATURES     • Swimming pool(s) • Playground   OTHER SPECIAL FEATURES     • Huge Deck • Playset in Backyard • Mature Trees ADDITIONAL PHOTOS     Brick Home-sidewalks Backyard has large deck Family Room-Fireplace Bonus-Storage-TV stays Photo 6 Huge Kitchen! Contact info:   Monica Neubauer Keller Williams 615-568-8384 For sale by agent/broker  Link to view full description Equal Opportunity Housing Posted: Jul 3, 2009, 6:50am PDT

Homes in Courtside in Brentwood, TN

Courtside at Southern Woods

Courtside is a community in northern Williamson County – close to the Davidson County line. People like it because they can live close to Nashville, but still have the Williamson County school system and lower property taxes. The taxes in Davidson County are about 10% – 15% higher than Williamson County. Except in Franklin. The taxes in the city of Franklin are a little higher because of the Franklin Special School District.

Okay, I am done with the taxes rabbit trail. Back to Courtside. These houses were built starting in 2000, but with the bulk of them finished in 2003 to 2006. There are still some new houses in Courtside as they finish it out more slowly, due to the economy. The community has tennis courts and a swimming pool they share with Southern Woods, an older neighborhood right beside it. The association fees are very reasonable at $35/month. Courtside is built in a hilly area that provides some good benefits to a buyer interested in this location. Some of the houses have basements and many of them have nice tree-lined views out the back of the house. There are houses there with 2 or 3 car garages. They are all brick houses built by several builders – Prescott Builders, who is still building there, Pulte, Meile Homes and others. 

The pricing for homes in Courtside is interesting. These houses were selling around $140/sq.ft in 2006 and many of them new at that time. In 2008 we saw an average closer to $143. However, since December of 2008, there has been a drop in price in Courtside for resale houses down to an average of about $123/sq. ft. This is a very difficult transition for the sellers there. The sellers who are adjusting are selling their houses, but the price different is quite drastic from where they were last year to where they are now. The listing agents tell me they have a good number of showings, but the offers are slow to come. I don’t see many of the houses selling. This neighborhood has a good price point in Brentwood and attractive houses. It is a good area to buy. We will see how it shifts in this current market. With so few buyers, the aggressive will be the ones to sell. Motivation is a serious factor here. 

 

Here are the statistics for Courtside with the closed houses being since Dec 1, 2008. Two of the houses sold were new and they make for the higher averages than I described earlier.

 

Active  18 Properties Found
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sales Price	Days on Market
MIN	2,927	4	3	0	$354,500	$0	4
AVG	3,377	4.11	3.06	0.72	$470,819	$0	70
MEDIAN	3,324	4	3	1	$467,450	$0	51
MAX	4,493	5	4	1	$600,000	$0	263

 

Closed  8 Properties Found
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sales Price	Days on Market
MIN	2,706	4	2	0	$365,500	$342,000	15
AVG	3,096	4	2.88	0.63	$439,425	$411,250	83
MEDIAN	2,974	4	3	1	$421,000	$401,500	64
MAX	3,613	4	3	1	$610,000	$560,000	189

 

Pending  1 Properties Found
	Square Feet	Bedrooms	Full Baths	Half Baths	List Price	Sales Price	Days on Market
MIN	3,016	4	3	1	$379,900	$0	191
AVG	3,016	4	3	1	$379,900	$0	191
MEDIAN	3,016	4	3	1	$379,900	$0	191
MAX	3,016	4	3	1	$379,900	$0	191

 

 

Click on the link below to see what houses are for sale in Courtside at Southern Woods:

Courtside Homes for Sale

This posting and the contents written here are the intellectual property and opinions of Monica Neubauer. Monica is a Realtor with Keller Williams Realty in Franklin, TN. She provides real estate services to clients in the Nashville area, including Nashville, Franklin, Brentwood, Spring Hills, Thompsons Station,  and other areas in the Middle Tennessee Region. You can contact her by calling 615-568-8384 or visit www.RealEstateTennessee.com.

Links to areas of interest in the Middle TN Area

Townhouses for Sale in Bellevue, Nashville, TN

Monica Neubauer | Keller Williams | 615-568-8384 McPherson Ct. S, Nashville, TN Investment Opportunity in Harpeth Valley Elementary School District 3BR/1.5BA Condo offered at $108,888 Year Built 1972 Sq Footage 1,092 Bedrooms 3 Bathrooms 1 full, 1 partial Floors 2 Parking 2 Uncovered spaces Lot Size Unspecified HOA/Maint $44 per month DESCRIPTION 3 BR townhouse. New Paint and Carpet in 2008. New Roof and Siding in 2007. 3 min from Percy Warner Park. Convenient shopping to Bellevue and Temple Rd. Easy commute to Nashville.Covered back porch. Property is currently leased. Harpeth Valley Elem. see additional photos below PROPERTY FEATURES Central A/C Central heat Living room Breakfast nook Dishwasher Refrigerator Stove/Oven Laundry area – garage Balcony, Deck, or Patio Yard COMMUNITY FEATURES Guest parking OTHER SPECIAL FEATURES New Roof and New Siding in 2007. New Paint and Carpet in 2008. ADDITIONAL PHOTOS Photo 1 Photo 2 Photo 3 Photo 4 Photo 5 Contact info: Monica Neubauer Keller Williams 615-568-8384 For sale by agent/broker Equal Opportunity Housing Posted: Apr 22, 2009, 11:03am PDT

McKay’s Mill in Franklin, TN

Being a Realtor, of course people ask me about the market. They want to know what is happening with real estate in Franklin, TN.   Well, there are houses available in all price ranges and some, but not as many buyers as we would like to see.  McKay’s Mill in Franklin, TN is a perfect example of this.  This large subdivision with nice, wide roads, attractive homes, and a shopping area right in the middle of the subdivision, is in a great location!  McKay’s Mill is convenient to the interstate, I-65,  and the Cool Springs shopping area. McKay’s Mill is in Williamson County and is 20-30 minutes from Nashville – an easy drive.  It is also convenient to the downtown Franklin area.  McKay’s Mill is zoned for Trinity Elementary, Page Middle and Page High School.

So what is happening with the real estate market in McKay’s Mill?  House prices vary in McKay’s Mill.  They have several builders and many price ranges.  The price ranges from $250K to $690K.  Do you think you might be able to find some good options in that price range?  As of today, there are 68 homes on the market with 8 of those under contract.  There are 6 houses pending and 16 have closed in the last 3 months.  The good news is that we are seeing a slight increase from 5 houses selling per month to now about 8.

I went out with my client looking at homes in McKay’s Mill last week.  We looked at a number of houses in the upper $300s and lower $400s.  What a difference we saw in some of the different places!  There are differences between builders and their “standard” level of quality in the houses. And then the individual homeowner has added their own selections of upgrades.  This is where a qualified Realtor can be of service.  One of the questions you need to ask an agent is if they can identify items of quality in a house that make a difference in the price.  There are differences in kitchen cabinets, carpet, hardwood and even roof types.  And in McKay’s Mill, the differences in homes can be substantial.

Are you interested in McKay’s Mill?  Let’s walk the nice streets with sidewalks.  Let’s look at the large clubhouse and pool.   And we’ll house shop and compare the options.

McKays Mill homes in Franklin TN

McKays Mill homes in Franklin TN

Search for Homes in McKay’s Mill

Williamson County TN March 2009 Housing Sales

March 2009 Housing Sales     The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of March. There were 169 residential and condominium closings reported for the month, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area. Compared to March of 2008, the residential home closings decreased 37 percent and the median prices for residential homes decreased by 4.7 percent. Days on the market (DOM) for residential homes increased by 8 days compared to March 2008. Condominium closings decreased by 43 percent. The median prices for condominiums decreased by 9 percent and days on the market also increased by 76 days compared to March 2008.   March 2009   Closings Median Price Average Price DOM Residential 152  $      357,500  $       421,664           91 Condominium 17  $      190,000  $       196,483         134 March 2008   Closings Median Price Average Price DOM Residential 243  $      375,000  $       439,809        83 Condominium 30  $      209,404  $       212,124        58 March 2007   Closings Median Price Average Price DOM Residential 340  $      380,000  $        456,587           67 Condominium 53  $      181,990  $        203,859           41 March 2006   Closings Median Price Average Price DOM Residential 401  $      327,402 $      402,950 51 Condominium 51  $      137,000 $      163,395 33   “Although closed transactions are up 10% from February to March, our increase has historically been more significant for this time period.  REALTORS® in Williamson County are reporting that activity for showings and offers has increased in the past two weeks. April has brought a new low in interest rates and first time buyers are better informed as to the benefits of the Federal Government’s $8000 tax credit.  We anticipate that this activity will result in increased closings in April, May and June,” said Diane Johnson, 2009 President of the Williamson County Association of REALTORS®.   The Williamson County Association of REALTORS® is the professional board of choice for the real estate industry in Williamson County. Established in 1962, the association provides professional development and support services for real estate professionals. The association has over 1,450 members and is headquartered in Franklin, Tn.

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