I sometimes equate the Nashville real estate market to
Kroger’s shelves just before a snow day; supply is so low right now, and demand
is so high that’s is basically a feeding frenzy amongst buyers. Here are 5 things that are great to know about how to find a house you love in Nashville
1. Have your lender on standby and your
preapproval in hand. If a house is nice and priced well, it will sometimes
be on the market for only a few hours. This means there’s no time at all to
dawdle.Let your real estate agent
know what your schedule is and what your flexible times are, should you need to
leave work. Buying a house in this market is equivalent to being
eight-and-a-half months pregnant; you need to keep your bags packed, have your
ducks in a row, and be ready to jump at a moment’s notice. 2. Know the general values of the
neighborhoods you’re interested in. Pricing has everything to do with where
a home is located. Because properties are becoming available so infrequently,
and because we have to move so quickly on real estate transactions right now,
it’s good to educate yourself ahead of time on which are the hottest Nashville neighborhoods,
and what the going rates are for houses in the areas you like best. That way
you won’t waste any time wondering if something is overpriced or not. By the
way, if the home you’re looking for is in 12South, East Nashville, or Hillsboro
Village and seems overpriced it’s probably not. The supply and demand in those
areas is so high that the higher prices are just in response to higher demand. 3. Know your price range. Once you fall in
love with a house, things can go from rational to emotional very quickly.
That’s why it’s very important to nail down your price range prior to finding
the house of your dreams. Have your limit and don’t allow yourself to go over
it. Your Realtor will be able to help you determine your range, and a good Realtor will never pressure you to go over it. 4. Make your offer irresistible. Once you
find a home your love and want to make an offer on it, not only do you need to
do so immediately but you need to make it as easy and breezy for the seller as
possible. For example, offer a short inspection time frame and a short closing
time frame, put up strong earnest money—things like that. Basically, any way you
can curtail your offer to make it more attractive will win you brownie points
with a seller whose looking at multiple offers.
5. Temper your enthusiasm while browsing for property online. Junkies of the internet, beware: When searching for property
online, make sure you don’t go and get your hopes up each tie you find a
property that you really like. Unfortunately, right now there’s a good chance
that even very new listings are already under contract. It’s OK to be excited,
but make sure you reach out to your agent by saying not “Can we go see this?”
but instead “Is this under contract?” If it looks too good to be true, it might
just be. Have any questions about Nashville real estate in 2014? I’m
always available to you.
Author:TJ Anderson Phone: 615-364-1530 Dated: February 12th 2014 Views: 850 About TJ: TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a h...
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