My Picks For Area Dining!

For new residents and for the established residents I offer a list of my favorite Nashville fine dining and dive restaurants and a Sumner County list as well.

Since I am not a professional food critic, these lists are simply the places I consistently enjoy for both the food and atmosphere. The lists reflect my bias against national franchise and my appreciation of locally owned and operated dining establishments. The lists are ever changing and my favorites today may not make the lists tomorrow.

With the above mentioned qualifications and biases, I will start with my favorite fine dining restaurants.
1)  The Silly Goose: I hate the name, but love the food. This small East Nashville Cafe has a changing seasonal menu of salads, sandwiches, couscous dishes, desserts and an evening special. The dishes are simple but with unusual combinations and the best of local quality food products.
2)  Urban Grub: This new 12 South eatery has a large and diverse menu and offers at least eight different dining areas. Great atmosphere, food and architecture.
3)  The Tin Angel:  This West End Ave. favorite is inspired by many world cuisines and features several dishes from the wonderful Zola's menu like the incredible meat balls (That are not shown on the menu).
4)  Margo's:  This restaurant started much of the East Nashville renaissance. The menu is ever changing, but always delicious, and served in a cozy atmosphere.
5)  Jimmy Kelly's:  This Nashville restaurant has been around for seventy years, and I think that many of the waiters have been there for fifty years. Great place for winter dining by the fireplace. The only problem is that I am always full from the incredible corn cakes before the meal arrives.

A few other contenders for fine dining that I can suggest would be Silo's, Sambuca, Cafe Laredo, and City House. I also plan a trip to the Cat Bird Seat just as soon as I make my next million dollar sale.

I am not sure where you cross the line from dives to casual dining, so you make the call on these following Nashville favorites.
1) La Hacienda and 2) Mas Tacos: For Mexican food La Hacienda was Nashville's first fresh taco factory and has now expanded to a restaurant and grocery. Mas Tacos started out and still operates a food truck, but also has a block and mortar location in East Nashville. Don't miss the best tortilla soup I have ever had and the fried avocado taco.
3)  Hog Heaven: They have a great barbecue chicken sandwich. Be sure to get a jar of the Kickin Chickin white sauce to go. Pick up your sandwich and go to the Spring Water next door for a cold beer. It is not as dangerous as it looks!
4)  Bobbies Dairy Dip:  This Nashville institution has been serving up burgers and dairy treats for decades.
5)  Lovelace Cafe:  Nashville's classic for breakfast and dinner Southern cuisine.

Other suggestions would be Rotier's, Browns Diner, or the Pharmacy for burgers. Calypso Cafe for Jamaican, Baja Burrito for the fish tacos, and Fido's and Bosco's in Hillsboro Village.

Sumner County is the home of all things franchised however there are a few local favorites that I can recommend.
1)  Moore's Famous Chicken:  This clean three seat restaurant prepares every meal to order. My favorite is the breast quarter with medium heat with fried okra and baked beans.
2)  Cafe Rakka:  Some of the best Mediterranean food you will ever taste. The restaurant was featured in Guy Fieri's Diners, Drive-Ins and Dives program on the food network. You will love the family recipes and the fresh bread for the hummus bar.
3)  China Wok:  This restaurant is mostly carry out, and all orders are individually prepared from the extensive menu with your choice of sauce.
4)  Cockeyed Pig:  This is my favorite barbecue restaurant in Sumner County. The wide selections of meats are very smokey with excellent sides. Take home a combo pack for dinner.
5)  Sax Deli:  In their new City Square location Sax offers great deli specialty sandwiches and the best hamburger in Sumner County. My favorite is the patty melt on marble rye with their fries.
6)  Knead Dough Pizzeria: These New York style pizzas are hand tossed and cooked in a brick oven.

Bon Appetite!

An Insiders Guide to Nashville

Music Venues In Music City

There are only a few cities in the world where seven nights a week you can find a great live set of original music. The music can be found in lots of venues around Nashville, but three have a worldwide reputation as music hall icons.

The first and oldest is the Ryman Auditorium. It was built as a church and still has hard wood pews, soft wood floors and stained glass windows. It became the "Mother Church" of country music in 1925 when it started broadcasting a one hour barn dance show, and in 1930 the Grand Ole Opry began broadcasting a four hour show on the 50,000 watt WSM tower which spread country music to all corners of the USA. Today the Grand Ole Opry is still at times broadcasting from the Ryman, but since a complete renovation in 1994 the stage of the Ryman has been an intimate location for music icons of all genres like Aretha Franklin, Neal Young and Van Morrison.

The second best known club in Nashville is the Blue Bird Cafe. Nashville has always been a publishing powerhouse and that is especially true of song writing and music publishing. The Blue Bird usually features singer/songwriters in the round playing their own songs and telling stories behind their songs. The 100 seat venue was where great artists from Garth Brooks to Taylor Swift were discovered. This is one of the few venues with a "shh" sign to tell the audience to shut up and listen, except on Monday nights when Mike Henderson comes to play a blues set.

The third most famous venue is the Station Inn. This funky old stone building in the gleaming new urban Gulch is the best known Bluegrass music venue in the country. They also host some of the best Americana artists, and on Tuesday you can't miss the Doyle and Debbie Show.

3rd and Lindsey is another excellent club that recently expanded to 400 seats and attracks an excellent schedule of national and local heavy weights. Artists like Sheryl Crow and Steve Earl will sell out but the Time Jumpers on Monday and the Wooten Brothers on Wednesday may be even more entertaining.

The Exit Inn has hosted some of the biggest names in music since the 70's, and it is alive and kicking today. These days it hosts a lot of young college radio bands. A venue owned by the same group is Marathon  Music Works, a large industrial space with a 2,000 standing capacity. This hall books mostly young groups, but you can also catch the likes of  Emmy Lou Harris, Warren Hayes, or the Carolina Chocolate Drops on occasion.

Tootsies' Orchid Lounge and Roberts Western World on lower Broadway represents the best in live traditional country music seven nights a week. There are lots of other honky tonks in the area, but none better then Tootsies' and Roberts.

There are two great blues bars in downtown Nashville; the Burbon Street Blues and Boogie Bar and B B Kings. Both host national acts and great local talents like Stacy Mitchhart. These venues are located in funky old buildings loaded with charm.

Some of the favorite showes that I have attended were at the Cannery. There are two separate venues, the Mercy Lounge and the larger Cannery Ballroom. These venues book a wide eclectic mix of music from National and local artists.

While I have mentioned the better known clubs, on any given night great music can be found in the smaller clubs like Douglas Corner where once a month Pat McLaughlin plays the best $10 show in Nashville. You also never know who you will find in places like Spring Water, Family Wash, The Baesment, Belcourt, Franklin Theater, Loveless Barn and many other bars. Nashville music talent runs deep and the place to get those one of a kind shows is in the local clubs and bars.

Year End Real Estate Updates and 2012 Predictions!

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!

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!

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?

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.