Nashville Tennessee Real Estate Market Activity Update for Sellers from JoAnne Staler REALTOR

The end of July and all of August is the most frustrating time in the real estate business for Sellers. Showings are historically down as buyers and agents take last minute vacations and prepare kids for school. The seasonal slow-down is exacerbated by the currently high inventory of homes for sale, the heat (whew!), and the constant media coverage of declining home sales. The truth is that while marketing time has increased, we still have a "good" (read: more normal) real estate market in Nashville Tennessee, and homes that are priced right are selling every day. I will tell you that the buyers are definitely spread pretty thin, but they are out there, and we are ready for them!

Buyers are taking much longer now to make a decision. During their search, they are looking at more houses than ever before. Consequently, the buyers know and understand the market much better than in the past. With so many homes to compare in their price range, it is obvious to them which homes are overpriced and which homes represent a good value. Also, many home seekers are finding that they can even step down a price point or two and still find the amenities they are looking for, especially with new home builders offering hefty incentives.

The days of bidding wars are probably past us for awhile. Unlike our most recent market, there is no reason now for a buyer to overpay for a house. Those buyers that are looking specifically for bargains can find them, as many sellers are in a position where they MUST sell. However, median home prices are still up in our area, so we’re not seeing many fire sales yet. I’m finding that if the seller isn’t agreeable to a reasonable price negotiation, the buyer just moves on to another house. When we find an interested party, you can expect an initial lowball offer as the buyer tests the waters. You can expect to make more concessions than sellers have been used to in recent years. In some areas and price ranges, we are definitely in a buyer’s market.

However, I believe all the extras I provide my Sellers give them a competitive edge over all the other homes on the market….

My extensive advertising  is constant and widespread. When you list your Nashville home for sale with me your home is always in print media, peppered on numerous sites throughout the web and frequent email blasts are sent to middle Tennessee agents. Included with all of my listings is a unique website for your home address. Most weeks your home will be a Featured Home on realtor.com (I’m having to alternate some due to an increased number of listings). I am writing about all of my listings on my blog which is increasingly driving more traffic to my websites. I’ve just instituted a new feature, ClickPhone, which will appear on all my web ads. A potential buyer can click on the phone icon and instantly be connected to my cell phone. I’m hoping to be able to get a few more showings that way.

I even gave out quite a few $10 gas cards to agents for showing my listings! I’ll continue that promotion on through August, as an incentive for agents to show my listings. Finally, I provide First American home warranties that repair or replace major operating systems and appliances in a home that fail due to normal wear and tear free of charge to my Sellers.  I place the home warranty on all my listings so the Seller is covered while the home is on the market and the buyer is covered for one year once the home is sold.  

To find out more about listing your Nashville home for sale with me click here.  Visit my website by clicking here to find out more information regarding the Nashville Tennessee real estate market.

Please call me anytime with any questions or concerns.

JoAnne Staler, Broker Associate, RE/MAX Elite

JoAnne Staler Nashville REALTOR is a Certified Luxury Home Marketing Specialist, Accredited Buyer Representative, Certified Residential Specialist Graduate, Realtor Institute RE/MAX Platinum Club Member, Hall of Fame Member and a Lifetime Achievement Award Recipient.

Direct Line (615)269-3600

Toll Free (888)801-2666

www.JoAnneStaler.com  

Best regards,

JoAnne