Tiffany White - Franklin TN Real Estate

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Spencer Hall Real Estate Franklin TN Oct 2008 Market Report

11-17-08

Spencer Hall Real Estate

Spencer Hall Subdivision is located off Highway 96 on the west side of Franklin, TN. Community amenities include a swimming pool, playground and several ponds in the common areas. Spencer Hall home sizes range from approximately 1,600 to 4,100 heated square feet. Most homes in this area were built between 1995 and 2006. Spencer Hall is zoned to Williamson County schools - Winstead Elementary, Hillsboro Middle and Independence High.

SPENCER HALL REAL ESTATE	Active	Sold in Aug.	Sold in Sept.	Sold in Oct.
Number of Listings	12	1	1	0
Average Price	$314,300	$259,000	$250,000
Price / Sq. Ft.	$115.51	$149.88	$139.82
Average Sq. Ft.	2,721	1,728	1,788
Avg. Days on Market	65	128	53

Want to know more about Franklin, TN Real Estate? Call Tiffany White at 615-260-5858 or view available Spencer Hall homes here Spencer Hall Real Estate

SPENCER HALL NEIGHBORHOOD AMENITIES

HISTORIC DOWNTOWN FRANKLIN TN

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Cottonwood Real Estate Franklin TN Oct. 2008 Market Report

11-16-08

Cottonwood Subdivision is located off of Cotton Lane on the west side of Franklin, TN. Community amenities include a swimming pool, playground, tennis courts and a club house. There are also many common areas throughout the neighborhood. Most of the home sites back to green space. Cottonwood home sizes range from approximately 1,700 to 3,800 heated square feet. Most homes in this area were built between 1974 and 1986. Cottonwood is zoned to Williamson County schools - Walnut Grove Elementary, Grassland Middle and Franklin High.

COTTONWOOD REAL ESTATE	Active	Sold in Aug.	Sold in Sept.	Sold in Oct.
Number of Listings	11	2	1	1
Average Price	$346,883	$281,500	$279,000	$355,000
Price / Sq. Ft.	$129,29	$118.08	$121.09	$124.34
Average Sq. Ft.	2,683	2,384	2,304	2,855
Avg. Days on Market	63	198	22	33

Want to know more about Franklin, TN Real Estate? Call Tiffany White at 615-260-5858 or view available Cottonwood homes here Cottonwood Real Estate

NEIGHBOHOOD AMENITIES

DOWNTOWN FRANKLIN, TN

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Home Selling Tips - Franklin, TN Real Estate

11-04-08

Curb Appeal

Buyers develop an opinion about your home within a few seconds of walking in the front door. You only have one chance to make a good first impression and the clock starts ticking as soon as they drive up to the house. Is the front of the house neat, clean and welcoming? Consider adding some extra landscaping or potted flowers. Buyers spend a minute or so standing on the porch while the agent unlocks the door. They have time to take a good look at the front of the house. Be sure to remove cobwebs, pressure wash the house and have a door knob and lock in proper working order. It's very aggravating fighting with an old door lock while my clients are standing out in the elements. Don't underestimate attention to detail, especially regarding the outside of the house and the first several rooms buyers will see.

Clutter Does Not Equal Value

Nashville Tn Real Estate Buyers are looking for a good value in their next home. First impressions are important. Everything should be neat, clean and uncluttered. You might even need to start packing before your home is on the market. Less is definitely more! Buyers need to be able to see each room and envision themselves living there. Buyers are not stopping by to admire your collections and nick knacks. It will be well worth the time and effort to pack away all unnecessary items before you open the door to buyers. Also limit personal photos and children's artwork. If your home seems too personalized to you and your family, buyers will have trouble feeling at home in YOUR space. If you have any deferred maintenance items, take care of them if at all possible. For every thing a buyer notices that is not right, they wonder how many other undesirable aspects of the home are hidden.

Kitchens and Bathrooms

The kitchen and bathrooms are typically the most important rooms in the home. Thoroughly clean these rooms and keep items setting on the counter to a minimum. Clean out drawers and cabinets. Serious buyers will look in drawers, cabinets and closets. You want buyers to have the impression of room to spare not a home overflowing with stuff.

Small Fixes

Nashville Tn Real Estate There are some small things you can do that make a big impact with buyers. I encourage you to consider improvements that don't cost much. Professional carpet cleaning usually costs just a few hundred dollars but can likely bring out years worth of lif. If your walls were recently painted, touch up paint might accomplish the same result as completely repainting plus save time and money. You never know if the next owner of your home might have a special wall color preference or want wood flooring where you currently have carpet. For these reasons, it can be wise to avoid replacing flooring or counter tops if possible. Keep in mind that there are times when it is necessary to repaint and replace materials. Look at other homes that are comparable to yours in price, size and location. Your Realtor can help compare your home with it's competition. If other homes in your area and price range have solid surface counter tops, a six-burner cook top and hardwood flooring, you might need to bring your house up to fit buyer expectation. Just remember that it's difficult to picks colors and materials that will appeal to every buyer. If considerable improvements are necessary to compete with other available homes, warm neutral tones are usually safe choices that will appeal to many buyers.

Price

Price is the single most important aspect to cause a home to sell. If you can't make needed improvements or properly prepare your home for sale, there is a right price that will expedite the sale of the home. Even if your home is staged to perfection, keep in mind that pricing your home too high might scare away buyers. At the very least, an over priced home will help the competition sell. By comparison, other homes will seem like a better value.

Search Nashville and Franklin TN area Real Estate www.TiffanyWhite.com.

Call Tiffany White at 615-260-5858 for your Nashville and Franklin TN area real estate needs!

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Home Buying Process - Franklin, TN Real Estate

11-04-08

Home Search

Nashville Tn Real Estate There are various online resources available to search homes for sale. As a Realtor, I have access to detailed information that might not be included on public home search websites. Additionally, I can set up a custom property search for you based on your specific needs. Perhaps you would like a house with a main level master bedroom, a bonus room or you need to be in a certain school zone. I can email you listings that satisfy these specific criteria. This will help you avoid sorting through bunches of listings that don't meet your needs. Also, mapping resources can show you where your target properties are located and save you time and gas money.

Financing Options

I recommend that you get pre-qualified for a mortgage loan early in your search. It's good to know exactly what you can afford before you actually view homes. You might want to talk to a few different local mortgage providers. Some companies have different products and might enable them to offer you a lower rate. I can suggest a few trusted loan officers who I have worked with. Please call me for more information!

Making an Offer

Once you find the right home you will need to make a written offer. Verbal agreements are not binding and might not be taken seriously. The standard Tennessee real estate purchase agreement includes many parts to help protect the buyer. There are several subject to clauses or contingencies. The most common contingencies include financing, appraisal, and inspection.

Nashville Tn Real Estate INSPECTION: I always recommend that you get a home inspection by a certified inspector. No matter how new or old a home is, there are lots of mechanical and structural parts that need to be checked. The inspection looks beyond physical appearances. The inspector will go in the attic, crawl under the house and look at visible electrical plumbing and structural components. In some cases, the inspector will recommend further investigation by a specialist such as a plumber, electrician or structural engineer. I have had a few occasions where a buyer decided not to buy a house because of details that the inspector found. That is why this paragraph is included in the contract- to help protect you! I just want to be sure that you are aware of the condition of the house. There is also an opportunity to ask the owner to make repairs based on the inspection report. The buyer must pay for the home inspection. Cost for a general home inspection usually starts around $250 to $300 for a small home. Costs vary based on the size of the house, the age of the home, the location and the services performed. The buyer or the buyer's agent will schedule the inspection.

APPRAISAL: This clause requires that the appraised value of the home must be greater than or equal to the purchase price. This helps to prevent you from paying too much. It is in the agreement to protect you and the lender. Anytime you get a loan for a house, the lender will require an appraisal. The lender will hire the appraiser but the cost is passed onto the buyer on the closing statement.

FINANCING: This clause will generally allow you to get out of a contract in the event that you cannot get financing for the purchase. It also spells out the time frame in which the buyer must apply for a loan.

SALE OF HOME: If you need to sell your current home before you buy another you will need to have a sale of home contingency in the agreement. Depending on the market, Sellers may be accepting of this clause. If homes are selling quickly, owners might not be willing to accept a sale contingency.

TITLE INSURANCE: Title insurance protects you in case there are any overlooked blemishes on the title to the property. The title company will perform a title search before closing. All mortgages and liens on the property should be paid off at or before closing and you will be assured clear title to the property. Title insurance costs can be the responsibility of the buyer or seller depending on language in the purchase agreement. Typical practices vary by county.

The purchase agreement specifies various terms of the sale including the price, the closing date and possession date, time for inspections and items that will remain in the house. In our area, the oven/stove, dishwasher, and built in appliances are typically included with the property. The washer, dryer and refrigerator are not automatically included. The contract should spell out which appliances stay and which do not. If there's something you specially want to be included, ask for it.

It's not uncommon for real estate negotiations to go back and forth a few times. This is where having representation by an experienced agent can really make things easier for you. I deal with these details weekly and am familiar with typical practices in this area.

Upfront Money

Before making an offer, you need to know how much money you have to put down on the purchase. There are two kinds of up front money: closing costs and down payment. The closing costs include the loan processing fees, various taxes and recording fees associated with the purchase. Closing costs are not applied to the purchase price. They are over and above the purchase price of the home. Closing costs are paid at closing and are included on the closing statement. Closing costs are typically estimated at 3% of the price of the home. The purchase contract can require for the home seller to cover all or part of the buyers closing costs. However, keep in mind that this is effectively just allowing you to finance the closing costs and the home still has to appraise for at least the purchase price. Your down payment on the home is applied toward the purchase price. Discussions with your lender will let you know if you can qualify for 100% financing. In some cases, little or no down payment is required. However, it is easier to get financing and you may get a better rate if you have some down payment.

EARNEST MONEY: Earnest money is usually expected by the Seller. Earnest money shows the Seller that you honestly intend to purchase the home. The exact amount of the earnest money expected varies depending on the area and the price of the home. The earnest money you submit with an offer to purchase a property will be credited toward your down payment at closing.

Home Owners Insurance

Before closing on your new home, you will need to set up home owners insurance. This will be required by the lender before the home is officially yours.

Utilities

Call to arrange to have utilities turned on before you move in. Some utility providers will require a deposit if you have not had service with them before. Other utility companies might run a credit check or require a letter of credit from a previous provider. If you can arrange to have utilities put in your name when the previous owner has them disconnected, you might save a reconnect fee.

Closing

Nashville Tn Real Estate A day or so before closing the title company will prepare a closing statement or HUD-1 document. This closing statement has all the charges and credits associated with the sale and purchase of the property. It will show the amount the buyer needs to bring to closing to purchase the property. Funds required at closing must be in the form of a cashier's check or money order. The title company cannot accept funds by personal check. The title company or the Buyer's agent can get this amount before closing.

Search Nashville and Franklin TN area Real Estate www.TiffanyWhite.com. Call Tiffany White at 615-260-5858 for assistance with all your home buying and selling needs!

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