HomesByBruceMitchell

Year End Real Estate Updates and 2012 Predictions!

2012-01-10T14:57:00.000-08:00

The old saying is that all real estate markets are local, and that is certainly true. In the media you hear statistics being quoted , some of which may be conflicting. Are the statistics for local or national sales; new homes or existing homes. Well this update strictly looks at Sumner County real estate.

The easiest way to describe our market in 2011 as compared to 2010 was that it was about the same. In 2011 there were 1,862 residential homes sold at an average price of $194,076. In 2010 there were three more homes sold (1,865), at an average price of $206,435. This translates to a little more then 3% drop in value for 2011. The only encouraging statistic in comparing 2010 and 2011 is that the inventory of homes fell by 13% to 1,622 average number of actively listed homes in 2011. That number while smaller still represents a 12-month supply of homes as the market. By comparison in the excellent market of 2006 there were 45% more homes sold (3,346) in Sumner County and the active inventory was only a 4.5-month supply.

So what does the new year hold for the local real estate market. These predictions are based on the opinions of experts plus my own observations for our real estate market.

(1) The real estate market should slightly improve for 2012.

(2) Home values should stabilize in 2012.

(3) Interest rates should remain very low in 2012.

(4) Home ownership rates will continue to drop and rents will continue to rise in 2012.

(5) As much as 30% of all residential sales will be distressed sales (short sales, foreclosures, and individuals taking personal losses) in 2012.

(6) Banks will do a better job of streamlining and making more efficient foreclosures and short sales purchases. Banks will also release more of the distressed properties to the marketplace in 2012.

(7) The number of licensed realtors in Tennessee will stabilize in 2012.

In my next post I will explain some of the reasons for these trends and the many opportunities they present for buyers and sellers in the coming year.

Have a good and prosperous 2012...

The New Normal For Real Estate!

2011-09-27T13:40:00.000-07:00

I see the term "new normal" being used frequently to describe the real estate market in today's world. After five depressed years with no upturn in sight the phrase has real meaning to me. For several years my clients were in denial of the changes and lost values. Now we have just settled into a new paradigm accepting current conditions as normal.

So what is the "new normal"? From the perspective of a professional realtor who started taking pre-licensing classes in 1979, here are a few observations about how business has changed.

The most obvious change is in my volume of sales. In my best years I would sell about sixty homes a year. In the last five years the volume has been reduced to around twenty per year. Not only has the total number of homes sold much smaller, the prices for an average home have also dropped substantially. In 2006 probably 50% of the homes I sold were over $350,000. This year only one topped the $350k range.

Another change has been selling almost exclusively resale homes. In my old business model, 50% of my business was listing and selling new homes of small builders and developers. Sadly many of my small builder and developer clients went bankrupt, some retired, and the survivors have stopped building speculative new homes. Yes, we Realtors have been hurt by this downturn, but builders and developers have been devastated.

Another aspect of this business that has changed drastically in the last five years is the difficulty of getting the signed contract to a successful closing. Banks have been under such pressure from their past mistakes that more loans than ever are not approved. It takes a larger
down payment than I have ever seen in my career to get a loan.

If you are qualified for the loan, the pressures of banks and foreclosure sales have made it difficult to work out the appraisals which can torpedo a solid sale. And if the contract is signed, the loan is approved, and the appraisal, is OK, the professional home inspection can be a major factor in a sale not closing. The "new normal" is that every successful sale that makes it through to closing will have its nail biting, teeth gnashing moments of fear and stress.

Our roles as Realtors have also been changing. With the depressed economy, loss of a job and declining home values, our role as Realtors often turn to therapists and advisers. When prices are rising it is hard to make a real estate mistake. Now everyone is running scared and
consumer confidence is at the lowest level that I have ever seen.

The role of the Realtor has never been more important. The "new normal" is all about playing the cards you are dealt, so to speak, and helping your client to the best of your abilities. The job isn't easy, but if it was easy my clients would not need my services.

It is true that real estate has always experienced its ups and downs and this market too will turn around one day. I started to pursue a real estate career in 1979. While taking my pre-licensing course, interest rates went through the roof so I delayed my entry into the real estate business until 1983. I experienced the savings and loan debacle and the dot com bubble, but this housing recession may follow me to the end of my career. I turn 65 this month, a traditional retirement age, but I plan on working well into my 70's. And for us "baby boomers" this too may be part of the "new normal".

Death Of A Realtor!

2011-06-14T08:49:00.000-07:00

Frances Almany passed away last week. She left this earth in the same way she lived her life and ran her business... on her own terms.

Frances was one generation older than me in age and social outlook. She was the top selling agent in Sumner County when I entered the business. Frances was definiely "old school" in her approach to real estate. She probably went to her grave angry about the fact that contracts expanded from a one page to a twenty seven or more page document.

Frances never embraced the computer age. I would guess that she would have liked to have continued using her MLS book. For you younger agents the MLS book was the size of Nashville telephone books published weekly with all the active listings in the area. The books were used until to 1995 when MLS went to a net based system.

Yes, Frances was old school, but there was not another agent that I would rather conduct business with. Frances knew what was important; and that was cutting through the bull shit and getting the deal done. She knew what was best for her clients even when they did not.
When I was president of our local realtor organization I asked Frances to be on a panel of top producers for an association meeting. During the discussion I ask her for a word of advice for the newer agents in attendance. She said that everyone has major business disappointments. A good friend will list or buy from another agent, a big deal will fall through, etc. She said that when it happened to be her she only gave herself twenty four hours to grieve about it, then she gave it up and went on to something positive. I think this was also a life philosophy for her as well as a business philosophy.

Another way that Frances influenced me was as a role model for being a success. Every new agent gets their license then sets foot on a career path without a road map or GPS. I know when I entered the business I looked at the successful generation of realtors before me and tried to measure up to their success and win their acceptance as a peer. I have never been highly motivated by money so my drive to succeed was simply a competition with other realtors like a football or soccer match. My first goal was to be number one in my company, and my ultimate goal was to out sell Frances Almany. I achieved that goal in the mid 90's. I don't think Frances was very pleased with my accomplishment, but I was also grateful to her for setting the bar higher.

Real estate is an odd career. You are an independent contractor and there is no mandatory retirement age. Many of the agents who I looked up to when entering the business have passed on. Very few ever retired. Now that I am becoming one of the "old timers" they still chart courses for a career path that I hope to extend into my 70's.

Thanks Frances, I'll miss you!

Is There a New Normal in the Real Estate Market?

2011-04-26T08:39:00.001-07:00

Watching for the real estate market recovery is like chasing a mirage on the desert. You know that national economist are saying that the economy is improving. Unemployment rates are slowly dropping. Activity is increasing. But just when you think you can touch the improving real estate market it disappears before your eyes. This housing recession has gone on for so long you begin to wonder, "Is this the new normal?"

I saw the downturn begin in August of 2006. I was working alot in Fairview Plantation where buyers were coming through daily from all over the country, and my resale business was robust. July 2006 was the best month for closings that I had ever experienced, and the future "was so bright I had to wear shades."

Then in August something happened. Activity greatly diminished, as if cut off by an invisible faucet. There were talks of problems in California, Arizona and Florida, but no one seemed to think that our market was subject to the problems of these out of control appreciating markets. Every drywall subcontractor had turned into a builder, and new construction was continuing at a furious pace. Banks were giving out money like candy on Halloween. I started to watch closely the existing inventories of active listings, and they increased by over 5,000 in just three months.

The ugly truths of the market were beginning to sink in with the realtors and builders a year later in 2007 and early 2008. Then the hammer fell, almost taking out the entire banking system with it in the fall of 2008.

Since then we have languished in a market that has seen an end to speculative construction except for the lower end of the market. Excessively high inventories are chasing a small pool of buyers. Foreclosures have brought down values, and the process of closing a sale can feel like a root canal.

From time to time we see an improvement in sale statistics for a given month, but the numbers are based on sales that are at very low levels when compared to the excellent market of the past. A month of increase will often be followed by a month of declining comparative sales.

So is there "a new normal in real estate?" Probably not, but turning around this market is like turning around a cruse ship; it is going to take a long time.

There have always been up and down cycles in real estate. I started my real estate career in the early 80's when stagflation and high interest rates depressed the markets. 1985 and 1986 were recovery years, and then the tax law changes started another downturn that persisted for four years and brought down the savings and loan institutions with it.

There have been other brief downturn in the 90's like the dot-com bubble and 2001 the 9/11 crisis, but none of these cycles have had the impact of this current housing recession.

I personally plan to continue to work productively in my real estate profession well after most people's retirement age. I enjoy my career and the stimulation it provides. I can only hope that I will work and live long enough to see a return to the good times again.

2011-04-26T08:39:00.000-07:00

The 10 Things You Must Do Before You Call Yourself a Nashvillian!

2011-03-29T13:52:00.000-07:00

OK, so I'm from Hendersonville, but if I was anywhere else in the world and someone asked me where I am from my answer would be Nashville. Hendersonville was incorporated in 1952 and is a fine place to live, but let's face it, we are first and foremost a Nashville bedroom community.

I personally am not bothered by Hendersonville's split personality because I love Nashville "Music City". For a city of it's size Nashville has a distinctive personality and so much going on that a week does not pass that my wife and I do not make the 30 minute drive to experience it's pleasures. So I offer up 10 things that you should do before calling yourself a Nashvillian.

1. Attend the Ryman Auditorium for a performance of the Grand Ole Opry.
The Opry is first and foremost a radio show. In the 30's the 50,000 watt WLAC radio tower was constructed. It broadcast music to most corners of the USA and contributed greatly to not only the exposure of country music, but also R & B and Rock and Roll building audiences and influencing countless future musicians from around the country. The WLAC radio tower was the spark that started Nashville's reputation as "Music City".

2. See the Athena at the Parthenon.
Centenial Park dates back to the 100 year anniversary of Nashville which was celebrated with a Worlds Fair. Canals were formed for Venice, pyamids were were erected to potray ancient Egypt, and an exact replica of the Greek Parthenon was built. There are lots of free art fairs and events held at Centential park, but not so many people pay the admission to see the very nice art gallery in the basement of the Partheon and see the incredible statue of Athena by Nashville sculptor Alan Le Quire.

3. Go see the Time Jumpers Monday night show at the Station Inn .
The Station Inn is one of the country's best venues for American Music, and it doesn't get any better than on Monday nights when the Time Jumpers perform. Yes, there are famous people in the band like Vince Gill, but the group is made up of the top sessions players in Nashville and the level of musicianship is incredible. The only place you might ever get to see them will be Monday nights at the Station Inn.

4. Take in a TPAC performance.
The Tennessee Performing Arts Center hosts a variety of entertainment options. Three theaters host Broadway touring plays, the Tennessee Repertory Theater and the Circle Players. You can also catch many concerts, comedy and other touring events.

5. Parks on the East side of the Cumberland River walk over the Pedestrian Bridge and hit Tootsies, Roberts Western World and all the honky tonk bars on Broadway.
Tootsies and Roberts Western World are the most noted venues on Broadway, but a great evening can be had on a walk around Broadway, up 2nd Avenue and through Printers Alley to see and hear the music of Nashville.

6. The Frist Center for Visual Arts.
Nashville now has a fabulous Arts Center with the conversion of the art deco Post Office into a great space for touring art events. Be sure to take the architectural tour, then stop off at Union Station or the Flying Saucer at the end of the day.

7. Attend a Titans or Predators game.
Nashville has always been a good town for minor league baseball, but the addition of the Tennessee Titans football team and the Nashville Predators hockey team has brought a new enthusiasm for sports to Nashville. The community is not jaded about their new teams, and a game is a great way to spend a Sunday afternoon of football or an evening of hockey action.

8. Take in a local Festival in East Nashville or Germantown.
A vibrant rebirth of life has returned to the historic neighborhoods of East Nashville and Germantown. The special events like the St. Patrick Pub Crawl and festivals like the Tomato Fest are great fun, but searching out the fine independent restaurants, bars and music venues while taking in the charm of the neighborhood is a great time in any season.

9. Check out a Pat McLaughlin once a month show at Douglas Corner.
You may wonder about this obscure event, but this is just one of many musical events that you can only see in Nashville. It could be a pop performance at the Schermerhorn Symphony Center or a writers night at the Blue Bird Cafe, but with a little inside information you an find incredible performances of original material that you can't find any where else but Nashville.

10. Tour the Opryland Hotel.
Anyone living in their home town can get jaded to the wonders around them, but recently I toured the Opryland Hotel after the renovations from the 2010 flood and once again was impressed by the area of tropical paradise under the three stories of glass canopy.

Many residents of Nashville would have their own take on the 10 things that make Music City unique. I have left out many of my own favorites like Cheekwood. But for a city of its size I cannot think of a more enjoyable place to spend time than our own Nasville, Tennessee.

Day Vacations from Sumner County #2

2011-03-15T10:24:00.000-07:00

At the end of the coldest winter season in many years my wife and I needed to escape the sofa and experience the out of doors. In the last week of January the sun reappeared, the temperatures soared to the 50's, and we decided to take a thirty minute drive to Nashville for a trek around Radnor Lake.

Radnor Lake is an unexpected jewel inside of Nashville/Davidson County. Radnor is not a natural lake. Located in a deep hollow surrounded by high ridges in southern Davidson Co., the lake was built in 1913 by the L & N Railroad.

Built at a high elevation the reservoir offered a gravity flow of water to fill the many steam locomotives and water for livestock at the Radnor Yards just south of 100 Oaks Shopping Center. The beautiful lake surrounded by forest was also a great hunting and fishing preserve for L & N officials and guest.

During the ten years after construction the lake became a haven for indigenous wildlife and migratory birds. Hunting was suspended at the request of the Ornithological Society, and the lake became a wildlife sanctuary.

The land had a quiet existence for sixty years while the areas of south Nashville and into Brentwood became the most sought after residential destinations in the greater Nashville area. The quiet existence ended when in 1962 a construction firm purchased the 747 acres around Radnor Lake for a luxury residential development. The public outcry was immediate. This started an eleven year battle to preserve the lake as a protected area. Through government, private sector and enlightened conservationists the land was preserved as Tennessee's first natural area and protected ecosystem.

It is events like this that make our country great. The beautiful area is now available to everyone during daylight hours to stroll around the lake or hike the rigorous ridge trails, to enjoy the natural beauty and observe the abundant wildlife.

On our late January hike, water foul were fishing the waters, turtles were baking on the first high 50 degree sunny day of the year, and beavers were rearranging the environment. My best memory of the day was the wind blowing across the lake and breaking up the ice which sounded like a thousand glass wind chimes.

This is a beautiful area in every season of the year. Radnor Lake can be accessed from both Granny White Pike and Franklin Road (Hwy 31) and turning on to Otter Creek Road. So take a little time, disconnect from the phone, television and computer and rest your mind and spirit in the beautiful surroundings.

The Three Reasons Why Now Is The Right Time For A Move!

2011-02-22T11:13:00.000-08:00

For the last three years we have experienced a dreadful real estate market. The national economy has made everyone afraid to spend money or make changes in their housing status, but I am optimistic this will be a turn around year.

If you have thought about downsizing, buying an investment property for retirement, moving up in value, or moving to a lower maintenance home, there are three reasons this may be the best year ever to make a move.

The first reason is the direction of mortgage interest rates. After seeing rates hit record lows in November of about 4% on a 30 year loan, the interest rates have risen about 1% in the last two months according to TAR Digest . I am afraid that with the emergence of inflation rates will continue to rise, but current rates are still fabulous. A 2% increase in a $200,000 30 year note is a monthly payment increase of $258.00. Think monthly payment not pricing.

The second reason for making a move now is better selling conditions for existing homes. So far this year there are signs of improved consumer confidence. According to Credit.com consumers are using their credit cards again, and in my own business I see a definite increase in calls and real estate activity. Foreclosures and short sales are in decline in all but the lower price ranges in Sumner County according to Realtytrac.com. My greatest problem in sales during the past two years has been competition from foreclosures and short sales. This should be a better year for selling resale homes.

The third reason to move now is that there is a great selection of homes at excellent prices. There have been far fewer new homes built in the last three years. As homes sell and are not replaced we should see declining inventories and increasing prices. Now is a great time to find good selections before inventories decrease and prices significantly increase.

So if you need to sell or just desire to make a move, please give me a call. Let me analyze your home value, home marketability, and availability of homes in the price range in which you are interested. It is time for action to take advantage of excellent interest rates, improved selling market, and a large inventory of homes with excellent values.

Tennessee Foreclosures

2011-02-08T15:01:00.000-08:00

It was another record year for foreclosures in 2010 according to RealtyTrac. This occurred despite the fact that many banks slowed down their foreclosure activities during the last quarter of the year due to the widely reported problems of improper documentation and procedures.

Foreclosures are the biggest problems facing real estate recovery. So how did we get to this point? It certainly started with the international belief that real estate can only go up in value. Easy and creative financing with little or no money down made perfect sense if you bought into the assumption that real estate values would continue to go up quickly. Soon after the banks found big prospects ( see blog 2/2/11 Getting Drunk and Throwing Up) in making bad loans to unqualified buyers the first wave of foreclosures began.

Demand for homes started falling, and so did home values. This led to the second wave of foreclosures. Builders and developers that were highly leveraged, and anyone who bought homes between 2001 and 2006 found themselves upside down with value less than their home loans.

These problems started on the West Coast, but within a year had spread to the entire nation plunging the country into the worst recession since the Depression. The unemployment and underemployment that resulted from the recession started the current third wave of foreclosures. People just could not afford their payments, sell their home, or refinance leaving foreclosure the only option.

When you hear the shocking statistics of foreclosure it is easy to forget that the problem is not shared equally by the country. Five states account for 51% of all foreclosures in 2010. They were California, Florida, Arizona, Illinois and Michigan. Georgia, Texas, Ohio and Nevada were other states that accounted for large percentages of the national foreclosures.

When it came to the largest numbers of foreclosures per households, Nevada, Arizona and Florida lead the nation. In Nevada one out every 11 homeowners received a foreclosure notice in 2010.

Tennessee's foreclosure problems are not as bad as many other areas of the country. Still they had a tremendous impact on our real estate market causing excessive inventory and declining values.

In Sumner County, Realty Tracs reports 691 banks owned properties. Most are single family homes, some are lots and there are even a couple of golf courses with club houses. That's a lot of future sales that will go at depressed values. The most shocking statistic is that of the 691 bank owned properties, only 57 are currently for sale at this time. Maybe I just do not understand the complexities of modern banking, but there must be a better and more profitable way to address foreclosures and liquidate this backlog of bank owned properties.

One Day Vacation Ideas

2011-02-01T13:05:00.000-08:00

Bluegrass Underground

One of the joys of living in the Hendersonville, TN and the Sumner County area are all the great one day trips that make you feel like you are on Vacation.

Last week my wife said that we needed to find a brief getaway to move us off the sofa and end our winter hibernation. Then in the Friday Tennessean there was an article about an event that I had always wanted to attend, Bluegrass Underground.

Bluegrass Underground is a once a month concert and radio show. It showcases some of the best bluegrass musical talent in the country with performances in what might be the most unique venue in the USA.

Bluegrass Underground takes place once a month in Cumberland Caverns which is located near McMinville, Tennessee. This beautiful area of the Tennessee Ridge is home to some of the most dramatic scenery in the state. The cave is open for tours throughout the year.

The Bluegrass Underground show is located 333 feet below the caves entrance about a 15 minute escorted walk. You come to one of the caves many offshoots and walk down into the Volcano Room which has high ceilings and other cave intersections for snack bars and green room. The complete absence of outside noise and the asymmetrical room make a wonderful venue for acoustic music. I ask about the attendance for past events and they range from 250 to 800+ when Ricky Scaggs performed last year.

On the day we attended Rides In The Sky a Grammy award winning Western group headlined, and the hilarious Cleverly's did Black Eyed Peas and other techno dance music bluegrass style. Lots of fun!

If you go, enjoy the scenic drive. The Caverns are located near Fall Creek Falls, Savage Gulf, and Rock Island State Park. Take some time to explore this beautiful area of the State.

Hendersonville, TN Morning Commute

2011-02-01T11:58:00.000-08:00

It's 7:00AM and I'm headed to the gym opposite the Nashville commuter traffic on the bypass (Hwy. 386). Brake lights are flashing at Exit 6, and all of these drivers will need another 45 minutes to cover the 18 miles to Nashville at the height of rush hour. That is unless there is rain, snow or a hiccup at Trinity Lane.

Normally there are about 75,000 cars a day running the two lanes of 386 according to the Tennessee Department of Transportation. There are alternatives to 386 like Gallatin Rd. (Hwy. 31) or Long Hollow Pike (Hwy 257), but 386 with no traffic lights or stop signs is the choice of most commuters. One of Hendersonville's and Gallatin's greatest assets is also its greatest liability for commuter traffic, Old Hickory Lake. The lake forms the southern border of all of Sumner County, and there are only two bridges spanning Old Hickory within our border.

So why do commuters go through so much stress time and expense to live in Sumner County and commute to Nashville? The simple answer is that it is worth it.

Some people move here for the great public and private schools, some for the lake, parks, and recreation, some for the lower taxes and others for the variety of houses in new safe neighborhoods. There are many compelling reasons to live in Sumner County that make the commute worthwhile.

Actually the commute to Nashville is a lot easier now than when I first moved here 33 years ago. At that time there were only two lanes of I65 into Nashville, a one lane bridge (no kidding) on Long Hollow Pike, and no Hwy 386. We have better commuting now, and we are better off than many of Nashville's other commuter cities, but the only way we can keep pace is with mass transit. Stop 30 road in Hendersonville was named for what used to be the 30th stop on the Nashville Commuter Train in the 1930's. It is time we visited their old ideas.

Commuting has never been a picnic even in the days of Hendersonville's first settler Daniel Smith. Daniel Smith's house Rock Castle still stands proud today, but two of his carpenters and his son-in-law were killed by Indians on their commute across the county. The only traffic jams were the herds of buffalo that wandered the valleys, but there were numerous other stresses and hazards from the river and animal trails that were the first area commuter routes in the 1790's.

So as you make your commute to Nashville, remember no texting, checking your emails or traveling too close to the car in front of you... and watch out for the buffalo and arrows.

2011 Predictions and Perscriptions on Life and Real Estate!

2011-01-05T07:43:00.000-08:00

I must confess that I was happy to take down my 2010 calendar and start a new year. Everything looks good at the starting line to paraphrase an old song.

2010 was no exception. I started the first two months of 2010 building a nice inventory of properties, and in March and April I had sold more homes than I had sold for all of the previous year. Then on the first weekend of May storm clouds gathered, the flood came, the tax credit disappeared and pending sales dropped each of the next eight months from the previous year. A drop of approximately 30% from 2009's pitiful sales figures created a lot of pain and stress for home owners, the real estate industry, and banks. My year in real estate was parallel with the Tennessee Titans season, which started great, collapsed, and ended with a terrible finish.

So what is the forecast for the real estate market at the starting line of this brand new year. Well it looks like we still have continuing problems that will make this race uphill and difficult. Foreclosures, unemployment, high inventories, deflated prices, and a lack of consumer confidence did not magically disappear with the new year. But with that being said I do see some signs of improvement for the coming year. I am seeing fewer foreclosures coming on the market especially in the higher price ranges. The lack of competition from foreclosures and short sales should drive prices higher in the coming year. It is projected that the national economy will grow and improve in 2011. The improved economy plus excellent interest rates should bolster consumer confidence and bring more buyers back into the market. I believe we will start seeing the real estate market turn around this year, however it will most likely be a slow process.

The start of a new year is both a time to look forward and to reflect on the past. I was thinking back to 10 years ago. The year 2000 started off great with a Millennium celebration in New Orleans, the best year in real estate sales that my wife and I had ever had and great fun and accomplishments of family and friends, and a final 2000 Titans Victory on Christmas night. Life seemed too perfect.

Then in the first week of January 2001 we found out that my wife had cancer which was terminal by July, then followed by 9/11, the endless wars and fear and decline in our entire nation. The lesson learned is that the performance of the housing market and economy are of little importance as compared to your family and your health. So regardless of how the real estate market is doing focus on the most important things in life and everyone have a great 2011.

The Bad News, Bad News, Good News!

2010-08-26T07:56:00.000-07:00

What a week for Real Estate news.

Here are just a few of the headlines.

1. July existing home sales tumble by 27.2%
(Remember that's 27% below July 09's miserable #'s.)

2. New home sales reach lowest levels on record.
(Statistics for new home sales were first recorded in 1963.)

3. Tennessee ranks #2 nationally in bankruptcies.
(Nevada is #1)

4. Inventory of unsold homes reaches record highs.
(This is a major problem in the recovery of home values.)

5. Home ownership rates are lowest since the early 60's.
("The American dream" is out of grasp to so many.)

None of these headlines were news to me. I'm living it, and August figures will not be better. After a terrific March and April the market shut down, but I've seen this pattern of roller coaster recovery before.

After the 1986 tax change laws, the market went south. Savings and loan institutions were going under daily. Developers and builders were bankrupting. The inventory soared. Well it took years to come back, but one day the inventory was absorbed, and suddenly if you put your sign in the yard a contract would beat you back to the office. Although it took four years to recover during this period, we saw brief surges in sales. Like a wave rolling into the beach, sales would briefly peak only to crash on the shore and dissipate.

So whats' a seller to do. First stay in the market. Sales happen even in the slowest economic times, and when we do hit these brief spikes in sales you can be in a position to ride them to a successful conclusion where low interest rates, great prices, and selection await a qualified buyer.

The second suggestion to a seller is to be competitive in price. Values have dropped, and a seller is competing with short sales, foreclosures, and other distress sales. You have to find the price that will sell the property, and remember your home value has nothing to do with what you paid for it, or what you "have to get out of it."

The third suggestion is, you must have your home updated and in it's best condition. The buyers do not want to choose their own wall colors and carpets or remodel your kitchen. They do want a pristine home that's move in ready. With high inventories in a competitive market one negative feature can mean the difference of your home losing out to a competitor.

One day our inventory will balance, and we will be back to a sellers market. But until then, you must do everything right to be ready to catch that next sales spike and take advantage of this fabulous buyers market with 50 year lows in interest rates. And that's the good news...

Stressed To Kill!

2010-08-17T08:29:00.000-07:00

Our state legislators have made sure that the Tennessee "militia to secure the free state" can now take our guns with us most everywhere we go. It is now within the law to take your gun to bars, parks, and churches.

Believe me, with few exceptions our second amendment rights are not under threat in Tennessee. But if the wise leaders in our legislative chambers start encouraging Buyers and Sellers to bring their guns to real estate closings, then it may be time for me to retire my real estate license and get a job as a Walmart greeter. (I wonder if they are packing heat.)

As Realtors, buyers, or sellers you know some version of this story. Mary, your Sunday school teacher, and her husband John listed their home with you and today is closing day at 5:00PM. John has been living in Atlanta for three months working at his new stressful job and has signed power of attorney for the closing. Mary is home with the three children and is leaving her job, friends, and family, and her children needed to be in the right Atlanta Schools two weeks ago. The movers are at the home and almost ready to pull out when you get the call from the closing attorney. "The home can't close today."

There are a thousand reasons a home does not close as scheduled, but whether the paperwork is not ready or the earth has just been hit by a giant meteor the results are the same. It's out of your control and you are going to hear words come out of your Sunday school teacher's mouth that could make a sailor blush, and you hope that her gun has been packed up by the movers.

Realtors at this time, it's good to drink a big glass of empathy juice. Never forget that the sale of purchase or real estate is a very stressful event for our buyers and sellers and it often coincides with another very stressful event in our customer's and client's lives.

Some homes have happy closings where the buyer is moving to a nicer home. Even then people are stressed about spending the most amount of money they have ever spent in their lifetime. But most home closings are coupled with some other stressful life event.

Job relocation, loss of a spouse, a new child on the way, health issues and loss of income are just a few examples of other major stressful events that accompany the sale and purchase of a home. That is why some seemingly small problem during the transaction is the proverbial straw that breaks the camel's back.

Real estate transactions have become more and more complicated. To nurture a transaction through selling, financing and inspections to the closing is complicated, and things will go wrong. Today's economy has made the process even more stressful with loss of values, appraisal problems, and banking that has taken a 180 degree turn from the days of free flowing money.

The stresses that our clients face in every transaction are real. Never forget it..

We Are Just Animals Running With The Herd!

2010-08-10T07:58:00.000-07:00

It is a miracle that we all have survived to walk the face of the earth. Our survival was dependent on the survival of our parents to the age of procreation. And our existence was dependent on the survival of our grandparents, their parents and the survival of our relatives for scores of generations over thousands of years.

At some point in ancient history our most distant relatives crawled down from the tree tops. They out witted the saber tooth tigers, discovered fire, learned to make stone and iron tools, learned how to raise high caloric crops, and domesticated animals to survive.

In the process some of human survival skills were hardwired in the brain as part of our DNA in the evolutionary process. These ancient brain connections, like fear of snakes, we call instincts.

Our instincts are outdated and shaped for a lost primitive world. Some instincts, like the desire to gorge on high caloric foods, served us well when we were foraging for nuts and berries, but in today's world of super sized meals our instincts to consume large quantities of high caloric foods actually has a negative affect on our survival.

Another instinct that does not serve us well in the modern world is running with the herd. In prehistoric times running with the herd may have offered protection from wild animals and tribal enemies. But in today's world it can be questioned that individuals following logical independent thought serves us better than hanging with the herd.

A good example is in the purchase of real estate. In 2005 and 2006 the herd was buying homes in large quantities. Lot prices were at an all time high. Labor costs were at an all time high. And as you would expect prices were at an all time high. Logically a thoughtful individual, banker, or investor, could see that this was not a great time to buy, but the herds ran straight toward the cliffs ahead, and we know what happened in the stampede.

Well now we find ourselves in a period where inventories are at record highs, interest rates are at record lows, and prices are at close out sale prices and no one much is buying, because the herd is not buying.

Wake up humans! Rise above your instincts. Does "buy low and sell high" mean anything to you. Separate from the herd and try to create new brain paths of instincts to pass on to future branches of your hereditary tree.

Now is the best time to buy real estate so stop cowering with the herd and give me a call...

Reply Real Estate "When Will I Ever Learn"

2010-08-03T09:02:00.000-07:00

Is it ever too late to learn? I hope not but a lesson that I have learned and forgot more than once is NEVER BUY ANYTHING FROM A PHONE SOLICITATION.

I may have learned my lesson this time for good after answering a call from REPLY REAL ESTATE, INC. At a time recently when I was rushed and stressed about business I got a call asking if I would like more business. "Yes" I answered, then the solution was presented to me by Reply Real Estate, Inc. For only $55 a lead I could greatly increase my business. Well I obviously did not listen or understand the program.

The leads started coming in large numbers. Oddly they always came from areas that I would not drive my car through, from people wanting homes in the affluent community of Hendersonville. I still followed up on a few, but after misinformation, slammed receivers, and bewildered prospects that I wondered why I waste my time. How do they capture these leads? I can only imagine that they must offer a promotional crack or gun give away.

Well I tried to stop the program yet the useless leads continued to come (CH CHING CH CHING). After dozens of e-mails and a big bill to pay as settlement I have finally learned my lesson.

If you are a Realtor and this story doesn't teach you not to make the same mistake as I did, I have a proposition for you. Send me money, or better, let me bank draft your account like Reply Real Estate. For only $35 a lead I will send all the leads you can stand. I will blindfold myself and put my finger down on name in the phone book. And for only $25 per lead I guarantee you will get a better quality lead from me than from Reply Real Estate.

The Power Of Illogical Thinking!

2010-06-08T13:02:00.000-07:00

I live and do business in the rather affluent communities of Hendersonville and Gallatin, TN a suburb of Nashville. As you might expect I do business with a lot of smart and well educated people: Medical Doctors, P.H.D.'s and financially savvy business people. So at times I can not believe the illogical thought process that I hear on many of my listing appointments.

Here are just a few examples:

We have just reached the point in the listing presentation where it is time to talk price. I've done my home work; I have active homes that compete with the seller's home, all comparable sold homes from the last 12 months, tax records on all sold homes to compare with the subject property, and a break down of all adjustments that show why the seller's property is worth more or less than the other sold homes. Then the tense moment " I think the price should be XXX dollars ." The next statement that comes from the client is often, "that's interesting but I need to price it for XXX dollars because I need XXX dollars out of it." Please explain to me logically how what someone needs out of the property has to do with the value. I haven't tried out this logic for myself but I think I will go march down to the Mercedes dealer and ask to buy a new 320 model for $8,000 because that's the price I need it to be.

Value is best predicted by past comparable sales, and the selling public must think at times that a customer looks at only one home before making a purchase. Believe me you can take a couple off the boat from Bangladesh and show them 10 homes, and they can tell you which ones are over priced.

This is example number two of illogical thinking at the listing presentation:

As a Realtor you have just walked through the home. It's located in a good school district in a well cared for neighborhood. There's just a few problems ; the wall colors are mauve and sea foam green, the sculptured carpets are peach, the dining room area has a duck wall paper border that perfectly matches the floral kitchen wallpaper. Sad looking deer heads stare down at the worlds largest collection of pig salt and pepper shakers. And the cat box in the corner, well it smells like ... let's put this politely... SHIT. I am informed with great pride that the home has a new roof and water heater.

I delicately bring up the need for changes and with sad faces am told of the paint and carpet " I'm sure the new owners would rather pick out what they want, the husband is proud of the deer heads, and they can't even smell Fluffy's litter box." I understand that they don't want to make changes, and anyway maybe buyers will line up and and take numbers since it has a new water heater. RIGHT!

The last illogical approach to selling and buying a home is the emphasis on "dollar per square ft."

When I started my career many years ago dollar per square ft. had meaning. Of course 90% of the homes were ranch style boxes that had 4/12 pitch roofs, and the other 10% were two story boxes.

In today's world talking about dollar per square foot is as logical as asking how much is the cost of a bag of groceries. So many homes today have so many factors that affect cost. How complicated is the plan, what amenities are in the home, is there 2 story volume areas and what's outside; like covered porches, fireplaces, and pools. Also one level homes are more expensive to construct per square foot than two stories, and the smaller the house, usually the higher dollar per square foot. And half the time one of the two homes being compared has incorrect square footage. While size matters, dollar per square foot is of little use in pricing homes in today's market.

Well I could make this blog into a book about the illogical thoughts that people express about their homes. But the truth is that we all bring so much emotion to the table when it comes to the thoughts and feelings about our home, "our castle."

When I first got into Real Estate I listed farms, log homes, acreage properties, and contemporary homes. I was more successful at listing than selling my inventory, so I went to my broker and asked what I was doing wrong. He said have you ever thought about listing the type of homes that are easy to sell. Well that got my attention! I became much more objective and logical about my business and less illogical and subjective.

What I liked wasn't necessarily and in most cases the opposite of what the public liked. So just remember illogical thinking most often leads to inappropriate actions. That's the power of illogical thinking...

I'll Be Living That Good Life In Hendersonville TN!

2010-05-18T14:16:00.000-07:00

Living the good life has a different meaning for many of the residents in our community. For some it's a round of golf on one of our many five courses, or a day on Old Hickory Lake boating or fishing. For others it may be spending time with family at the many parks and church events. You may think of this as 60 tweets but this is a description of a day in my perfect life in the Hendersonville/Nashville TN. community.

Alice and I sleep in until 6:30 after attending a record release party at the Station Inn with Elizabeth Cook. There is not enough time to make it to the gym but we do have time for a 3 mile walk down our still rural road that is only a mile and a half from a Starbucks and 18 miles from downtown Nashville.

The first thing I notice is that the male half of the Mallards couple that live in the creek across the street is missing. I look for feathers on the road but seeing no evidence of accident or "foul play" the male has unexplainably "flown the coupe." We spot a flock of wild turkeys along our walk a rather common event and the two Canadian Geese that have frequented the Frazier's. Have for the 3 springs now. The Timmons' iris beds that have exploded to a point of domination their entire front yard are looking great and I spot a few clusters where I can get future cuttings.

After arriving home I decide to delay my work day and head up to the gardens. I pick fresh asparagus and transplant from seedbed the eggplant, red peppers, and Romaine lettuce before the predicted morning rains arrive.

Afterward a quick clean up and a third cup of coffee I am off to put in my eight hours of real estate work. The market took a major upturn in March and it's keeping me busy preparing for seven closings during the next three weeks. Have inspections, appraisals, coordinating closing details, getting loan pay offs, etc consume the day. It has become a complicated maze in today's world to guide a sale from contract to closing. I could complain, but if it was all easy there would not be a need for Realtors.

I end the work day at 5pm and prepare for a date with my lovely wife Alice. First stop will be at our new favorite restaurant the Silly Goose. - The Silly Goose in East Nashville is so small that they do not have the seating capacity to get a liquor license so we select a bottle from our wine cabinet and we are soon off the Nashville.

The restaurant is so unique. Their entire kitchen consists of a George Foreman grill, a panini grill, and a hot plate. The menu breaks down to four categories, snacks, sandwiches, couscous dishes and deserts. It all sounds so simple and it is, but the combinations of specialty cheeses, Italian pork, apple wood bacon, fruits etc. makes for a most memorable dining experience.

I get a call before dinner and its word that our counter offer on the Twin Cove lake home has been accepted, which means the new home my clients want to buy will be a reality. News of two sales, calls for a special toast and a splurge on the beet ice cream.

After splitting dishes we are pleasantly full and head off to our second stop, the Cannery Ball Room to see Sharon Jones and the Dap-Kings. Sharon Jones and Dap-Kings are definitely old school. They channel all the best of funk, R & B and Soul from the Stax record era and James Brown.

If I can diverge a bit, I think James Brown will go down as the most influential musician of the last 50 years. I grew up in a small Tennessee town on the Alabama border in the 50's, a time when all my peers were into Elvis and early rock and roll. Somehow I encompased a broader interest in music with James Brown as my musical hero. Throughout my public school education schools were segregated, but I got my fix on "Colored Music" from listening to the Randy Record Shop late show on 50,000 watt WSM on a transistor radio after my parents were in bed and asleep.

Before listening to the Randy Record Store broadcast, I think my musical interest was influenced by a show at the country fair called "Club Ebony." Club Ebony was a way to bring the black music found in the Juke Joints and Chittlin Circuit of the Old South. The shows had comedians, dancing girls, and great blues and R & B music. It was risque, and exciting for a 12 year old and I went back every year during the Fair and was influenced forever.

When I turned 16 and got my drivers license my first road trip was the 100 miles to Nashville in 1966 to see James Brown and the Famous Flames at the Nashville race tracks grand stands. I have seen hundreds of concerts since, but that concert experience to this day is still one of the top three concerts events of my life.

Back to my day. Sharon Jones and the Dap-Kings do not disappoint. The Dap - Kings do back up and recording for the like of Amy Winehouse and they could not be better driven by the vocal power and original music of Sharon Jones.

Well its 12 and this perfect day in the life of a Realtor is not over. But the thought occurs to me that there is no better location to pursue many of my life's passions: Wife and family, gardening and the rural life, my profession as a realtor, food, wine, arts and entertainment and urban life than in my home town Hendersonville TN. home of Johnny Cash 20 minutes from downtown Nashville.

HAVE A PERFECT DAY!

How High's The Water Mama!

2010-05-11T13:59:00.000-07:00

Hendersonville Tn in the Flood of the Century

" How high's the water, Mama? Six feet high and rising." That was a line from an old country song, but was probably often repeated during the first weekend of May in the greater Nashville area.

The third highest 24 hour rainfall ever recorded in Nashville, Tennessee was recorded May 1st, 2010. The highest 24 hour rainfall ever recorded in our area was May 2nd. The combination of 14 to 20 inches of rain in two days resulted in a five hundred year flood event.

Twenty lives were lost, numerous homes and basements were flooded, and most major road systems and even interstates were in sections under water. Thousands of people lost homes and personal property. Most did not have insurance coverage for their losses.

What should people do to protect themselves? First, know what your risks are before purchasing a home. If your home is in a 100 year flood plain your bank or mortgage will require that you get Federal Flood Insurance. Remember that the flood insurance that the bank requires only covers the structure. You must then take out an additional policy for personal property.

What is the flood rating for your property? Not many people know the answer to that question, but it is an important fact to know and understand. Most of the homes that were flooded were not in the 100 year flood plain, thus not required to carry flood insurance. The closer you are to a flood plain the more likely you are to have problems if a 500 year event should occur.

There also are other possible events like the collapse of a dam that can contribute to an abnormal flood event. A lot of publicity was generated in 2005 and 2006 by the leaking and structural integrity of the Wolf Creek Dam in Kentucky. A collapse of the Wolf Creek Dam would flood major portions throughout Midle Tennessee. If you are outside the 100 year flood zones the Federal Flood Insurance is relatively inexpensive. For $370 you can get $250,000 in home insurance and $100,000 in content coverage. A lot of people who bought Federal Flood Insurance to protect against a Wolf Creek Dam problem were happy to have it when the flood of 2010 came to town.

Another "deep thought" to consider when purchasing a home is that water runs down hill. Be sure to check your home for proper drainage. I had friends last week whose basement flooded taking out washer, dryer, hot water heater, and heating and air equipment. Thankfully the Karaoke machine was saved. I had another friend several years ago who lived on a hillside who had water getting under the basement slab. Within 7 days the problem went from sticking doors to total collapse of the home. Even a flow of water into a crawl space can lead to mold that can be a major health problem with an expensive fix.

Buying insurance is always a calculated bet. But in this era of rapid climate change my advice to you is to first evaluate your risks, then double down if you find that there is a chance of losing it all in a major flood.

Sex in the Back Yard Hendersonville Tennessee!

2010-04-07T13:49:00.000-07:00

"Let me tell you about the birds and the bees

and the flowers and the trees

and the moon up above and a thing called love"

There is no place I would rather be on the first weekend of April than my five acres of pasture, ponds, gardens and log home in Hendersonville, TN. One thing that I love about Tennessee is the biodiversity of plants and wildlife that exists in the Volunteer State. That diversity is never more beautiful than on the first weekend of April.

Stepping off the back porch I startled the Chickadees that apparently have "hooked up" and are now building a nest at a very inappropriate spot on the side porch. They will soon be followed by the even messier Barn Swallows that have adopted the same spot for 2o years where they build Adobe high rises. Not long from now the eggs will be hatching and baby birds will be covering the porch with bird crap. Oh the "circle of life" now where is my pressure waser?

From the porch I can see over twenty varieties of Butter Cups in bloom, brilliant yellow Forsythias, red Hawthorn, the burst of white from the borders of Pear Trees, Purple Saucer Magnolias, hot pink Redbirds, and the first green leaves of the Weeping Willow. I think our natural attraction to flowers must be teaching us lessons in beauty and the mysteries of sexuality.

This display of color in a reawakened earth is in sharp contact, to a snowy landscape of six weeks ago. The season changes are so dramatic in Tennessee. I love the beaches, the desert Southwest, and Mountain peaks, but I could never live in an environment where there was not distinctive season changes.

The bees are buzzing today and wood bees large and small are eating our log home. The holes they bore will soon be plugged entombing a new generation of soon to be hatched baby bees to feast on the oak, cedar, and poplar logs that shield us from the elements.

Walking toward the gardens I pass the frog ponds in the Bald Cypress swamp. The frog pond is the amphibian equivalent of a disco, complete with the music of the three varieties of frogs. One variety chirps like crickets while the bullfrogs lay down a base and tuba riff. A real meeting spot for the mating dance, and yes Wild, Wild Sex. I have already seen my first tadpole.

My next backyard observation can be best expressed in today's hippty hop rabbit vernacular. A home bunnie is chasing his bitch around the field. She stops, he catches up, she runs off, hecatches up; what a tease. I can't say I observed them doing what rabbits do, but I am sure that the hare and his ho had a successful booty call. Soon there will be a gang of little bunnies eating my new lettuce plants in the garden.

All this excitement and stimulation is just too much and I sit down by the Koi pond to contemplate if there really is too much exposure to sex in our society. Well the answer came quickly. The Koi have started their spring break and it's time for "Fishes Gone Wild". If you have ever seen Koi before spawning it is quite a show. The males flash by turning sideways on the bottom, and all the males gang up and chase the female at time pushing her up and out of the water. A whole lot of splashing going on! I wonder if there is a web site for fish porn?

I could go on and on with my observations, but instead I will challenge you to make your own discoveries. It's a wild, beautiful, sexy world and there is no better time and place to observe it than in the first week of April in your own back yard in Hendersonville Tennessee...

Spring Has Arrived And The Real Estate Market Is Blooming!

2010-03-30T12:03:00.000-07:00

Well it was the longest, coldest winter in 30 years, and all the flowers were weeks late in blooming. But spring weather is now here, and my gardens are alive with dozens of varieties of Buttercups, Saucer Magnolias, Bradford Pears, Forsythias, and Hawthornes in bloom.

It has also been a long winter in the Real Estate Business. It has been the worst Real Estate market of my 25 years in the business. And this winter of Real Estate has lasted for two and a half years. Starting in 2006 we began to see problems developing in California, Arizona and the West, Michigan and the Mid West, and Florida from the South which rolled into the Nashville, Hendersonville and Gallatin TN market like cold fronts passing through and dumping problems on Middle Tennessee. These problems started to slow our markets in August 2006 and inventories soared. Then the national economies collapsed in the fall of 2008 leaving us with the chill of foreclosures. I must confess at times I wondered if we would see improvement in my lifetime.

Then suddenly without warning starting three weeks ago in the first week of March there were signs of rebirth in the market. Our sales board which shows all the weeks sales, pendings, and closings completely filled and continued to fill for the following two weeks. In this same three weeks I received a dozen calls for listing appointments, and messages and Real Estate e-mails lit up my phone like a slot machine.

Well I know that good science and research require lots of data and large samples but from what I've seen with our company, and from my personal perspective we are seeing a return to more normal markets. So if you are reading this blog just remember you heard it here first. The Real Estate market is coming back. We have come to the end of our long Real Estate winter, and sales will soon be blooming again.

Hendersonville TN Real Estate Then and Now!

2010-03-16T09:33:00.000-07:00

Real Estate Hendersonville TN

Then and Now!

The picture to the top left is the first "head shot" I could find from my Real Estate past. I got my Real Estate license in July of 1983. This picture was taken By Ed Bruchas in front of the Real Estate Review in 1989. The only thing that has changed more than my hair line in 25 years is the Real Estate market in Hendersonville.

When I first started my career each weeks Realtors received a book (no kidding) the size of a telephone book with all the active listings. Then once a quarter we received a comparable sales book. I was looking through an old comp book from the fourth quarter of 1983 and here are a few sales from that time and there current tax value today.

Address________Sq.Footage___83 Selling Price___Current Tax Value
Lake Homes:
206 Baha Mar Point------6400 sq. ft.------------$184,000--------$641,700
552 Indian Lake Rd.------5180 sq. ft.------------$180,000---------$550,000
278 Bluegrass Dr.--------- 2220 sq. ft.----------- $134,936-------$361,400

New Executive Homes:
195 Jefferson Dr.----------2580 sq. ft.------------ $108,000--------$244,200
117 Choctow Dr.---------- 3060 sq. ft.------------ $115,000------- $308,400
252 Hidden Lake Rd.---- 2550 sq. ft.------------- $119,000-------$381,900

Affordable Homes:
1050 Peninsula------------ 1425 sq. ft.------------ $48,372--------- $136,700
109 Southburn------------ 1725 sq. ft.------------ $51,880----------$144,800
111 Wessington------------ 1300 sq. ft.----------- $52,335---------- $130,600

From this small sample you can tell the best bet for appreciation is buying a lake home. A resident once told me when he bought his home on Lake Terrace he could have bought the lake lot on the lakeside of the road for $15,000 more than the non lakeside. Today the lake home would sell for $600,000 and up while the same home across the street would sell for $200,000 to $225,000. They are just not making new lake front property 30 minutes from downtown Nashville, and lake front property is still a great value today. It is no longer uncommon to see lake front purchased for $600K to 900K to be torn down for the lot.

Another big change that I noticed looking through the 1983 comp book was the changes in Real Estate Companies. What I believe to be the top Real Estate Companies in 1983 were: Tom Moore Realty, Dobson & Johnson, and Folks Jordon. None of these companies are in existence today!

The only three companies doing business in Hendersonville in 1983 that are still around today are -- 1. One Stop, 2. Lakeside, and 3. Almany Realtors. The #1 company in Hendersonville and Sumner County today is RE/MAX Choice Properties. The company was not started until 1997 and I am proud to say that I was one of the five original members.

So lots of things have changed in my 25 years in Real Estate; but some things never change:
1) People still want to buy their own home in which to live and raise their families.
2) A home represents most peoples largest purchase and greatest investment.
3) The US Government and The Banking System make ownership accessible to a large percentage of the NationalPopulations.
4) And the 4th thing that has not changed in 25 years is that I still enjoy the satisfaction of working in an industry that has a product everyone wants with a service that everyone needs.

I still love this business and who knows I may have another 25 years in me. Don't think it's imposable. It's certainly no less unimaginable than buying a lake home on Bara Mar Point for $189,900.

Hendersonville's Top 5 Non Franchised Restaurants!

2010-02-23T07:58:00.000-08:00

Before I declare the top non-franchise restaurants in Hendersonville, TN, I should probably include disclaimers.

Disclaimer #1: I am not a professional food or restaurant critic. My only qualifications are that I enjoy a good meal and I have 63 years of eating experience.

Disclaimer #2: I don't even eat out that much. My dining habits are much like the Italians. I visit the grocery store everyday and cook fresh and simply at home. Most eating out occurs at the lunch time meal.

Disclaimer #3: When I go out to eat it is usually to get a meal that I would not cook at home. At home I eat a healthy diet but, I'm a Southern man and fried foods are in my DNA. While I don't fry at home, from time to time I need to lubricate the genes of my Southern heritage with a deep fried non healthy dish.

Disclaimer #4: I am not related to any of the owners in the picks for Top 5 restaurants or the honorable mentions. And I have not been offered cash, food or other valuables for my recommendations. However I am not beyond accepting a meal, discount, or other gift if they feel so moved.

Now that we have covered the disclaimers can I get a drum roll?....

TOP FIVE:

#5 - Dickey's Hickory Pit, 1622 Stop 30 Rd: First of all Dickey's is officially a bar and not a restaurant, so you can take your gun to lunch. Dickey's should have a historical marker since it was one of only 2 bars that was grandfathered to serve beer when Hendersonville was orignially incorporated as a dry city. The Bar B Q is good, but they are best known for Hot Chicken on Friday at lunch only. Now hot chicken is a misnomer. It should be called spicy fried chicken since it is often served less than hot and is not really spicy hot like say Price's Chicken in Nashville.

#4 - Ruby's Kitchen, 75A New Shackle Island Rd: If you are from another region of the country you may not be familiar with the term meat and three restaurant. To explain, it's Southern comfort food that may have been served to your great granddaddy by his wife down on the farm at lunch time. Ruby's menu changes daily, but if you go there be sure to save room for dessert.

#3 - The China Wok, 247 West Main at Walton Ferry Rd: There are a few tables at the China Wok because it is primarily a take out restaurant. They have about 129 dishes that have been posted on the wall for many years. All dishes are prepared on the spot with the sauce of your choice. No food in thoughs here, just good food individually prepared.

# 2 - September's Cafe the Streets of Indian Lake: September's Cafe was started in a dismal strip center where it was transformed into a charming bistro by September Norman. She moved the business and it is now the jewel of The Streets of Indian Lake Center. September's is the best spot for elegant dining in Hendersonville. The creative dishes and excellent wine selection are crowd pleaser, but I usually cannot get past the dinner salad selections which are the best in the greater Nashville area.

# 1 - Cafe Rakka, 71 New Shackle Island Rd: Cafe Rakka is located in the previous location of September's Cafe, so you know it started off with some good karma. This family owned restaurant features great Mediterranean and Middle Eastern dishes based on old family recipes. The hummus bar with various toppings is a great start, and I have tried every main course and never been disappointed.

I appreciate the hard work and difficult uphill battle to start a successful independent restaurant. Here are a few runners up that definitely make the grade:

#1 - Steamboat Bills: Best fried catfish, oysters, shrimp and crawfish around.

#2 - Blue Goose: Great breakfast - try the Kitchen's Omelet and a good meat and 3 lunch.

#3 - Barefoot Charlies: Beach food served up in a great setting. Love the chicken nachos.

#4 - Cafe La Crumbs: Great chicken salad sandwiches and salads.

#5 - El Rodeo: Very good Tex Mex dishes.

#6 - Knead Dough Pizza: Hand tossed New York Style Pizza

#7 - Center Point and Whitts Bar B Q: We Southerners love our smoked pork and both serve good hickory smoked

Bar B Q.

BON APPETIT!

Snow Days A Southern Holiday

2010-02-16T08:48:00.000-08:00

It is such a cliche' but so true that the world has become a smaller place. You see it on a drive by fast food row how local and national cuisines have spread to all ends of the earth. You can now get Le Big Mac on the Champs-Elysees or a Starbucks triple skinny cappuccino in China's Forbidden City.

What were once regional cultural differences have been exposed and adopted around the world. In doing so our lives have been enriched, but our unique regional cultural differences have been diluted.

As a Realtor I do not need a demographer to tell me that populations are moving south. Thanks to the invasion of the "blue plates" (slang for our northern neighbors who all have blue car tags) Nashville has become a NHL city. I like Hockey although I don't know a hat trick from icing. It still does not offer the same thrill as the opening of SEC football season, but I don't put hockey down.

While I appreciate what my friends who settled here from lands north of the Mason Dixon line have contributed to the local culture, I do have one complaint... their complete misunderstanding and ridicule of the uniquely Southern Holiday known as Snow Days.

Now I know what my Yankee friends say about southerners. We don't know how to drive in the white stuff, we don't even have snow blowers and other snow removal equipment, we wipe out grocery stores, and close schools with a mere forecast of a few flakes. Well these things may be true, but you miss the point! A Snow Day is a Southern Holiday, and it's time to understand this tradition, celebrate, and enjoy it.

Let me explain the holiday...

First get ready, by which I mean get a 2 week supply of food and include all the goodies you swore off with your New Years resolutions. My Northern friends don't snicker when Publix and Kroger come to life at Christmas and Thanksgiving. Food is important to the celebration of all Holidays especially Snow Days.

Second, a Snow Day is a time to stay home and be unproductive guilt free. You can call your boss and say you can't make it in even if you live 2 blocks away. It's not a lie, it's just part of a myth of the holiday like Santa Clause and Easter Bunnies. Your boss will understand.

And third, celebrate! Nothing is more beautiful in the winter than a blanket of snow, so relax, eat, find a make shift sled and rejoice with your family. Transplanted Snow Buds chill out and by the way....

Happy Snow Days!

I Got A New Listing And It's A Real Cream Puff!

2010-02-02T09:51:00.000-08:00

I got a new listing and I was searching for the perfect words to describe it in a real estate ad. So I did what many Realtors do. I picked up "Buy A Home" a real estate publication and I plagiarized all my favorite ads. So here goes.

Owner Says Sell!

This charming unique historic home with a beautiful lake view could be a real cream puff with a little TLC. The home features a great floor plan and a comfortable front porch. This 1/2 acre mini farm has immediate possession and is the lowest price per sq. ft. in the neighborhood. This property is loaded with character, call today it won't last long.

Well I may be accused by my fellow Realtors of giving away the secrets of our industry, but as a public service I will try to show how to interpret the real meaning of a real estate ad. So let's break it down starting with the title "Owner Says Sell." This may be my favorite real estate ad line. It speaks the truth and says nothing! If the property is listed and advertised the buyer just might be assured the seller says sell it!

The first sentence of the ad has imaging that would make a poet jealous.

"Charming unique historic home." Charming and unique are the perfect words for describing the ugliest girl in class.

"Historic" Realtor speech for old and decrepid.

"Lake View," climb the cell tower behind the house... if it's winter and the leaves are off the trees you may be able to see a lake. You can also substitute walk to the lake for this clause. Needs a little TLC simply put means bring the bulldozers.

The second line "great floor plan with comfortable front porch.

"Great floor plans it's got all the rooms you would expect (family, kitchen, bedrooms, etc.)

"Comfortable front porch." Comfortable like the shoes you wore out and threw in the trash.

The third and fourth lines as explained below.

"Mini farm" If it's not a condo it could be a mini farm.

"At the lowest price per sq. ft in the neighborhood." The lowest dollar per square foot means that the Realtor used tax record data which was 40% higher than the real square footage.

"The property is cozy." Isn't cozy a cozy sounding word.

"Loaded with character." Describes the ugliest boy in the class.

"It won't last long." Listing will expire in two weeks.

Well that breaks down just one ad to show the true meanings behind the language of a Real Estate ad. You may also want to reread my previous blog "It Makes Sense If You Really Don't Think About It." for further insight about buzz words, facts and their relationship to the truth.

I may write an entire dictionary of Realtor ad terms one day but for now happy house hunting...

Getting Drunk And Throwing Up!

2010-02-02T08:02:00.000-08:00

Have you ever gotten drunk and thrown up? I didn't think you had. But I must confess it has happened to me a few times .

The first two times if happened I was a student at U.T. In my defense Playboy Magazine had voted U.T. Knoxville the number one party school in the nation, and I felt an obligation to uphold the schools reputation and traditions. I'm kind of responsible about things like that!

Two other times were on trips to New Orleans. I love the Big Easy; it's architecture, history, music, food and the spirit of "Laissez Le Bon Temps Roulet." Can I be forgiven if I got caught up in the spirit of the culture?

Then there were 2 or 3 times partying with friends. No excuses here. You are having a great time; your getting better looking and more humorous with every cocktail and then.... you are holding on to the bed while laying down. You make a serpentine path to the bathroom where you kneel at the alter of the porcelain bowl and well... you know the rest of the story.

Well during the 2nd term of the Bush Administration the banks threw down on a big party. Admit it... we all had a great time.

The public was getting dizzy on the soaring real estate values. Realtors got the big buzz selling large homes to customers that could not afford them. Mortgage bankers got knocked out loaded on commissions, and wall street traders just went crazy out of their minds selling junk AAA rated paper around the world. Unfortunately regulations peaked early and passed out in the corner oblivious to the party going on around them. And of coarse the banks that hosted the party were high on profits, bonuses, and stock dividends.

If you party too hard you are going to get sick and the banks were wasted. Some died, and some of the biggest and strongest were in the ICU on life support. Still in 2010 most are still looking puny. Banks take my advice and throw up the bad loans and foreclosed inventory. I promise it feels bad when it happens, but you will start improving immediately.

An article in "The Residential Specialist" http://www.crs.com/ "In The Shadow" concludes that banks have no incentive to unload their foreclosed inventory because of a recent change in federal accounting rules. This allows banks to hold foreclosed properties at valuations from 3 to 4 years ago. Losses are not taken until the sale of the foreclosed property takes place. There are also 7 million home owners behind on their mortgages. Bank held properties and bad mortagage loans that have not been dealt with have created a shadow inventory. This shadow inventory continues to increase supply and suppress prices and continues stalling a recovery in the real estate market.

It's time to deal with the back log of foreclosures and bad loans. Get them up, get them out. Then maybe we can then see values improving and return to a stable real estate market.

Excellent Realtors Stand Up And Give Me Your Opinions!

2010-01-26T08:23:00.000-08:00

It's that time of the year for "The Award of Excellence." Everyone is busy filling out applications, and the award police are auditing forms. Soon we will know not only who is excellent, but just how excellent they are as distinguished by the precious metal with which they will be honored.

For many years now I feel like the guy at the football stadium who stands up with hands held high to start the wave and no one joins in. So, I stand up once again to ask why as members of the Sumner County Association do we continue with this annual event. Let me give a few reasons why I think " The Award of Excellence" should go!

The Association of Realtors has a goal to promote the memberships as respected professionals, somehow elevating us in the public eye above used car salespeople. Don't take offence if you are in the used car business. One of the most professional sales people I have ever know was the late Austin Chambers who sold me 3 cars while representing the best in customer service, honesty, and professionalism. I am only speaking of public perception.

But, what other professionals do you know that give self congratulatory awards based on dollar amount of production? Clearly you do not judge the excellence of your doctor by the income his practice takes in, or the excellence of your attorney by the numbers of hours he or she bills. Measuring excellence by the volume of sales sends the wrong message to the public.

At least we no longer call the award "Million Dollar Sales Club." The public thought we made millions and had the perception that we were glorified chauffeurs who made too much money for the work we do.

Also using dollar amounts for determination of excellence has little to do with the meaning of the word. Is the realtor who sells nine $100,000 homes to first time buyers less excellent than the realtor who might sell one million dollar home?

More progressive associations have dropped these awards, however we not only promote them, but spend countless hours documenting then auditing applications. I think the associations could find better ways to use their time and resources. Doesn't the term Realtor imply honesty? Just ask the realtor which award they observe and give it to them.

So, another year passes, and since I once again did not fill out the application, I will not be among the excellent. That's OK since I think excellence should be judged by the clients we serve.

Well enough of my ranting. Next week I will blog about puppies and kittens, but until then is there anyone who would like to stand up with hands held high and start a wave.

"Damn I Could Have Bought That Property For...."

2010-01-19T09:06:00.000-08:00

OK everyone over the age of 30 can complete this sentence and probably have an interesting story to tell at the cocktail party or their church social.

Let me quickly tell you my story: At the age of 22 I decided it would make more sense to buy than rent. I found a little house on 4 acres of land in south Nashville for $33,000 that I thought would be a good first home and called my father for advice. He came from Pulaski to Nashville looked at the property and said, "Son look at these crocked floors and swagging roof. I would never buy this house if I were you." I DIDN'T!

Fast forward 14 years when I just started a real estate career. I drove by the same house which had a commercial real estate for sale sign on it. Out of curiousity I went to a pay phone(remember them) and called the agent. The price was $475,000. That would be about a million and half in todays market.

So, grasshoppers, what lessons can we learn from this? Lesson one: If you are a first time buyer seeking well meaning advice from your parents, just remember they may not have bought a home in twenty years, and during that time the real estate landscape completely changed.

Lesson two: Opportunity is knocking right now. You can buy property for investment or to live in at a 15% discount over 2006 value at a time when inventories are excellent, and interest rates are in the 5% range and take advantage of the Federal Tax credit if you qualify.

I would also like to suggest that you use me as your Realtor, and ten years from now you won't be saying, "Damn I Could Have Bought That Property For...."

"It Really Makes Sense If You Don't Think About It"

2010-01-12T13:30:00.000-08:00

This is my new favorite quote from John Oliver. We are so bombarded with facts and information but few people look behind the facts and buzz words for the true picture. Weather you are talking about Sarah Palin "Death Squads" or December Real Estate Statistics there are the facts and there is the truth behind the buzz words and facts.

Headlines: Real Estate Sales were up 27% in December. The fact is true however the 27% increase was a comparison with Dec. 2008 figures which was a period when everyone thought the entire economy was going into the toilet and sales were at all time lows. Maybe all time lows is an overstatement. As a matter of fact I just made that part up, but doesn't it look authoritative in print.

Also the medium price per sale fell from $178,500 in Dec. of 2008 to $166,000 in 2009 in Sumner County. So the truth behind the fact is yes we sold more homes last month than a year ago but they were for less expensive properties. Thank God for the first time buyers Tax Credit (but remember statistics are not proof only associations.) So taking a philosophical approach instead of a scientific approach, Real Estate business must be getting better because I can't imagine it getting any worse.

Next week I will do a few comparisons from the heady years of 2005, 06, and 07. Until then seek the truth.

2010 New Year Same Old Problems

2010-01-05T14:25:00.000-08:00

Well it’s a new year and a new set of resolutions that are the same as my 2009 resolutions. Loose 10 pounds, sell a half million dollars worth of real estate a month and show all the people important in my life that I love them. It’s ditto on the resolutions and ditto on the direction of real estate from 09 to 2010.

As we start the new year interest rates are fabulous, there has never been a better time to buy a home. That is especially true if you qualify for the $8,000 tax credit.

On the other hand several major problems still exist and my persist throughout the new year.

The first problem is consumer confidence. We are herding animals that run in packs, sometimes right off a cliff. There is a lot of fear and uncertainties and people are holding off on large purchases.

Second problem is over supply making it difficult to sell a property in order to buy another one. From 2000 to 2006 lots of people from Florida and California were moving to Tennessee. When their markets crashed, the greater Nashville market was affected. Also move up local buyers wanting to take advantage of a great buy can’t sell their current home quick enough to make it happen.

The third problem is banking and foreclosures. Foreclosures have hurt everyone’s values and banks have reacted by making lending guidelines much more stringent.

Well before you jump out the window or slit your wrist, take heart. 2010 may be challenging, however properties will be sold, inventories will be reduced,consumer confidence will increase. And the best news is anyone who owns a home they hold for a reasonable period of time always has a great investment.

And just remember your home is an investment that keeps the rain off your head and is the store house of your best family memories.

Have a great 2010!