Apartment Rents in Nashville seeing a drop in July 2018.

Apartment rents in the Nashville area dropped in July after nearly seven years of continuous upward growth, and the for-sale housing market’s sizzling post-recession prosperity chilled.

The slowdown is a welcome relief to renters and buyers weary of the seemingly boundless boom that has outpaced wages and rapidly inflated home prices to nearly double their 2012 values.

“I’m happy to see that the buyer market is getting a little bit of leverage,” said Jeff Checko, a Realtor with RE/MAX Advantage. “Sellers have been too big for their britches. The market is pushing back a little on that.”

Experts say this doesn’t point to an end to the region’s upward mobility. Zillow still ranks the Nashville area as one of the top 10 “hottest housing markets” in the country and housing prices are increasing, though at a slower rate than in recent years.

The downtrend is likely a market correction mirrored in cities across the nation, rather than the beginning of an economic slump.

“We’re seeing the same pattern in Nashville in markets like Denver, Seattle and Los Angeles,” said Aaron Terrazas, senior economist at Zillow. “It’s slowing down. But it’s still, in many cases, above the historic pace.”

More apartments opening

Median rent in Nashville was $1,490 in July – just $4 less than in July 2017, according to Zillow. But the downturn comes after seven years of significant consecutive rent hikes and feverish construction of thousands of new units.

Five new apartment complexes delivered 1,200 rental units and condos to the urban core this year, loosening the tight supply and decreasing demand, according to Nashville Downtown Partnership, a nonprofit firm dedicated to boosting downtown business.

Seven new apartment buildings are now in the works with 1,864 units expected to open incrementally through 2020. Those may come online at a slower pace, since demand has diminished a bit.

Demand rising for cheaper homes

Unlike Nashville rents, home prices increased in the second quarter of this year. But those prices inched upward at their slowest pace since late 2015, according to the most recently available data compiled by Zillow.

The average rate of housing-price increases has declined steadily since mid-2017, following six years of consecutive growth. Still, prices were 10.3 percent higher in July than they were the year before.

“Home value appreciation last spring and summer was growing very quickly,” Terrazas said. “It’s slowing down but it’s still very fast any way you look at it.”

The median home price in the greater Nashville area matched the national average of about $250,000 in July, according to several data reports.

The national housing market is experiencing a similar trend. Rising interest rates and a growing affordability gap – with wage increases dragging behind housing cost hikes for years – stalled sales of new, higher-priced homes in July.

In the greater Nashville market, homes listed for less than $300,000 in Rutherford County increased in value while higher-ticket options in Williamson County saw price declines this year, Checko said.

“It’s difficult to pinpoint the exact cause but certainly the recipe would include a climate of rising interest rates, overzealous sellers, and more inventory,” he said.

There are 31.3 percent more homes for sale in this quarter than during the same period last year, according to a Zillow analysis of the Nashville market.

Interest rates are expected to continue to increase slightly into next year, though they remain at historically low levels.

Nashville’s housing market is widely expected to remain strong.

“In the short term, prices move around a lot,” said real-estate developer Bert Matthews. “I have two children who are looking to buy their first houses and they keep asking me when prices are going to go down so they can afford something. Just like with the stock market, nobody is an expert in real-estate market timing. I would never bet against Nashville in the long run.”

Top Target Of Kitchen Remodeling?

Decluttering! Tidiness is the biggest trend this year, according to the 2018 Houzz Kitchen Trends Study. The study found that 75% of homeowners named decluttering their counters as their number one priority, followed by 66% who want to put things away and 49% who are focused on recycling.

The biggest issue? Storage, cited by 93% of survey respondents. That was followed by space planning (38%), entertainment (32%), and cleanliness (32%). The survey notes that homeowners are also interested in pullout garbage bins, organizers for dishes and utensils, and wine bars.

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January 2018

Dear Friend,

Happy New Year! Are you ready to shed the old and ring in the new? To help you kick it off, I’ve dedicated this month’s newsletter to having a fun start with some lighthearted news and stories.

If your New Year’s resolutions include business goals, the opening article might inspire you with stories about how little ideas can turn into big businesses.

If you’re just curious, the next article explains how we ended up with January as our first month of the year, and why we’re operating on the Julian calendar and not the Aztec calendar.

And in case you wondered if there really is anything to the “5-second rule,” after reading this month, you’ll know the truth.

Also Check our new website design www.NashvilleAreaHomes.com with new search features, map search and alerts for new homes coming on the market. Let me know what you think!


I wish you all the best at the start of this New Year. If buying or selling a home is in your near future, please know that I’m here for you. Thank you and have a wonderful New Year!

Kind regards,

Candie & Mike Worsham


5 Tips for Buyers in a Tight Housing Market

WASHINGTON (May 12, 2017) – When inventory is low, home prices tend to go up. Attempting to purchase a house in this type of market can make the already complex process of buying a home even more overwhelming. To help buyers successfully get through the buying process in a tight inventory market with as little stress and difficulty as possible, the National Association of Realtors® has these five suggestions and an infographic: https://www.nar.realtor/infographics/5-tips-for-buying-in-a-tight-market.

1. Determine and stick to a budget. Before beginning the house hunting process, prospective homebuyers should receive preapproval from one or more lenders to verify the amount of money they are qualified to borrow. Then, after taking into account additional costs of ownership such as taxes, utilities and insurance, buyers should determine a final budget they can comfortably afford. When listings are scarce, bidding wars can drive up prices, so buyers must be prepared to walk away if the asking price surpasses their budget.

2. Identify desired neighborhoods and home wants versus needs. When housing inventory is tight, buyers may need to compromise on what they believe they want from a home. Certain wants, such as stainless appliances or hardwood floors, can be added later. However, if a buyer wants to be in a specific school district or have a decent sized backyard, those cannot be addressed later and must be taken into account during the house hunting process.

3. Be ready to make a decision quickly. In a seller’s market, homes rarely stay on the market long, so when a house that is in their budget and checks off all of their needs come along, buyers should not hesitate. Buyers should be ready to submit an offer quickly, or they may risk missing out on the home altogether.

4. Bid competitively and limit contingencies. It is tempting to submit a low offer as a starting bid, but in a seller’s market buyers need to put forward their highest offer from the very beginning or they are likely to lose out on the home. It is also important to remember that in multiple bidding situations it is not always the highest offer that is most attractive to the seller but the one with the fewest contingencies. Removing restrictions related to the sale of a current home and being flexible with things like the move-in date can make a bid stand out to a seller.

5. Work with a Realtor®. All real estate is local, so it is important to work with an agent who is a Realtor®, a member of the National Association of Realtors®, and who is familiar with the areas and neighborhoods the homebuyers are considering. Realtors® are the most trusted resource for real estate information and have unparalleled knowledge of their communities; they can give buyers the competitive advantage needed in a tight market.

For more information on buying a home in a seller’s market, visit NAR’s comprehensive website for homeowners, www.houselogic.com/buy (link is external).

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

April 2017 Nashville Home Sale Stats

NASHVILLE, Tenn. (May 8, 2017) – There were 3,325 home closings reported for the month of April, according to figures provided by the Greater Nashville REALTORS®. This represents an increase of 1.3 percent from the 3,284 closings reported for April 2016.

     Year-to-date closings total 11,663. That is a 7.1 percent increase compared to the 10,885 closings reported through April 2016.

     “The second quarter of home sales, which is typically one of the strongest, started with positive gains,” said Scott Troxel, Greater Nashville REALTORS President. “Year-to-date sales are up by almost one thousand units, making it likely we will see 40,000 or more closings this year, something we haven’t seen since 2006.
     “While year-over-year sales were up for the month of April, there was a slowing down from the previous month,” said Troxel. “The struggle between low inventory and rising sales is beginning to even out. While supply is increasing, it has a way to go still to meet up with buyer demand. All indicators show we will continue to have growth in our market at a more even pace.”
     A comparison of sales by category for April is:

April 2016

April 2017 











    There were 3,540 sales pending at the end of the month, compared to the 3,198 pending sales at this time last year. The average number of days on the market for a single-family home was 47 days.

     The median residential price for a single-family home during April was $275,000 and for a condominium it was $195,255. This compares with last year’s median residential and condominium prices of $250,000 and $193,473, respectively.

     Inventory at the end of April was 11,062, down from 12,244 in 2016. The current inventory of properties by category, compared to last year, is:
April 2016

April 2017 











     “The increase in year-over-year home sales for April was slightly lower than the gains we’ve seen the in the past several months. This dip is not a decline in the desire for homeownership. In fact, it’s the market catching up with itself,” said Troxel. “Achieving double-digit gains each month compared to the prior year in nearly impossible to sustain without a matching growth in inventory. Smaller, steady gains are more desirable and contribute to a long-term healthier market.”

     Greater Nashville REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict code of ethics.

How to Get the Most Amount of Money for Your Home

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

  1. Price it a LITTLE LOW

This may seem counter-intuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:    “Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly under-priced, especially in areas with low inventory.”

  1. Use a Real Estate Professional

This, too, may seem counter intuitive, as the seller likely believes that he or she will net more money if they don’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the National Association of Realtors revealed that:    “The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

Call Candie for a strategy to sell your home. Nashville Native and owner/broker Nashville Area Homes. You could say “We know the Neighborhood”

Tips for Selling Your Home in 2017

If you are planning to list your home this spring and get the most out of the sale, your home should be staged. It comes back to the importance of emotion in the decision to purchase; an empty or a poorly furnished home doesn’t yield any emotion. Home staging is part of the process in preparing your home to have a great impression and successful sale.

Here are 9 tips for upgrading and styling your home and helping get what you want: a sale giving you close to your asking price.

  1. Curb appeal should be outstanding. Never underestimate the importance of curb appeal. Many people considering your home will do a quick drive-by first and make an early judgement regardless of what the inside looks like. Make sure you prepare your home for this initial judgement by doing the following:
  • Reseed, mow lawn as needed
  • Plant flowers and greenery
  • Make sure house number is easy-to-read
  • Clean front windows and power wash walkways and siding
  • Make sure porch floor has fresh paint or stain
  • Add a few pieces of nice porch furniture
  • Make sure porch and front walkway is illuminated in the evenings
  1. Decluttering is not easy, but it’s key if you’re serious about staging your home. You ‘gain’ more space when surfaces, floors, closets and cupboards are clear and clean. Make sure toys are cleaned up as this could be a big turnoff—even if a potential buyer has kids. People looking at houses are imagining a fresh start; a neat kids room could make the point that a kid’s room could be nicely organized. This goes for ‘extra’ rooms. Don’t assume a potential buyer would see the extra room as a positive if it’s shown as a storage room for unused furniture or boxes of items. Make sure the room has a clear purpose: another kid’s room, guest room, office or music room. This will have a big positive impression.
  1. Clean your house well. Every surface should be clean and shiny, from counters, floors, windows and grout. Cleaning your home is a cheap way to enhance it, but it’s not the easiest part of the preparation process. If the task is too daunting, don’t rule out hiring a pro to get the job done as you shouldn’t skimp on this.
  1. Choose neutral colors. While the idea of painting your daughter’s room lime-green might be fun, now is not the time to do that. You don’t have to go all white either, but could consider sophisticated neutrals like wheat or brown gray.
  1. Take care of your closets. Open house visitors will always look inside your closets to see how much space you have. Remove unnecessary items and try to have between 20-30% of each closet clear to give the impression of spaciousness.
  1. Show up any awkward areas or rooms. Try to find a creative way to show off that nook beneath the stairs. Whether you make it a small work station, reading nook or add a bulletin board, this can become another selling point.
  1. Get rid of and don’t create any unwanted odors. This is a big ‘make or break’ part of first impressions. If you have a pet, be sure to steam-clean all rugs, wash and vacuum all surfaces and keep your pet’s heavily used toys hidden at the time of the home tour. This is also not a good time to cook fish, bacon, fried food – anything that leaves a lingering odor – however, cookies, apple pies and bread never hurt.
  1. Create a lifestyle based on the neighborhood. If your neighborhood is in a quiet, leafy suburban area, hanging a hammock in your backyard or a bench swing on your front porch might be the perfect touch.
  1. Hire a professional photographer when you’re ready to list. Real estate listings should include quality photos that offer great first impressions to homebuyers. This may be the only chance a seller gets before their home is passed over for one that has photos taken by a professional. Be sure to confirm if your real estate agent whether or not the photos will be taken by a professional photographer. When it comes to the seller get the maximum out of their listing, it’s best to let a professional photographer do what they do best.


Call Candie for Expert Representation and our Exclusive Selling System 615.400.5230



Why Winter is a Great Time to Buy a Home

As the temperature in many areas of the country starts to cool down, you might think that the housing market will do the same. This couldn’t be further from the truth! Here are 4 reasons you should consider buying your dream home this winter instead of waiting for spring!

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.3% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates are Projected to Increase

Your monthly housing cost is as much related to the price you pay for your home as it is to the mortgage interest rate you secure.

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage are currently at 4.08%. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way You’re Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. Calll Candie 615.400.5230 to find your next home. 615.400.5230


Should I Sell my Home Myself?


In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

  1. Exposure to Prospective Buyers -Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
  2. Results Come from the Internet-Where did buyers find the home they actually purchased?

51% on the internet

34% from a Real Estate Agent

9% from a yard sign

1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

  1. There Are Too Many People to Negotiate With- Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

The buyer who wants the best deal possible

The buyer’s agent who solely represents the best interest of the buyer

The buyer’s attorney (in some parts of the country)

The home inspection companies, which work for the buyer and will almost always find some problems with the house. The appraiser if there is a question of value

  1. FSBOing Has Become More And More Difficult- The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years. The 8% share represents the lowest recorded figure since NAR began collecting data in  1981.
  2. You Net More Money When Using an Agent- Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line -Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

Call Candie for Expert Representation 615.400-5230 Broker/Owner Nashville Area Homes

Planning for 2017


Are you planning to sell your home next year?

If so, here’s a little secret: You don’t have to wait until spring is in the air to get your home ready for prime time. Gain an edge on the competition with these steps.

As soon as possible start interviewing agents. Finding the right agent is not an easy task. We all have friends that are part time agents and maybe sell a family member’s home once a year. Please don’t waste your time on an agent that only sells a few homes a year. You need a PRO who inspires you with confidence and has a proven track record. Look for high octane agent who can close your home. Look for experience.

Make a Plan: Before you roll up your sleeves and get to work, I suggest making a list of all your to-dos. This enables you to break the process down into bite-sized chunks so you don’t feel overwhelmed. Work with your agent to set priorities, then focus on knocking out one task at a time.

Start Packing: This is where the going gets tough. It’s time to part with your stuff—but only for a little while. Take a look around and decide what you can live without until your home sells. Rent a storage unit if you have to. Just pack it up and get it out so you can make room for buyers. Here’s an added bonus: The rest of the work will be much easier with less stuff clogging your corners!

Uncover Issues: Want to beat buyers to the punch list? Get a pre-sale home inspection. Of course, your buyer’s home inspector will still find things that need to be done. But being proactive enables you to identify potential deal breakers so you can adjust your timeline and budget accordingly. “If you need to deal with something really profound, it may change some of the other things you’ve got to do,”.

Tackle Repairs: With your home inspection report in hand, work with your real estate agent to prioritize the findings. Just keep these wise words in mind: “It’s always less expensive to repair or replace something up front than to wait for the buyer to ask for that in inspection requests,”. This is especially true for major fixes like a new roof or HVAC unit. “That’s the kind of stuff that scares people to death. They’ll ask $12,000 for a roof that would cost $4,500. It’s a vast difference!”

1 Month Before Listing- Spruce It Up: First impressions count—a lot! Breathe new life into your home with a fresh coat of paint, and pay close attention to curb appeal. Ask your real estate agent to refer a reputable home stager to help you incorporate today’s trends. “Remember, you’re not going to live here anymore,”. “It really doesn’t matter what colors you like. What matters is what buyers are looking for right now.”

1–2 Weeks Before Listing – Deep Clean: Save this step until it’s almost time to plant the For Sale sign in your yard. You don’t want a month of muddy paw prints traipsing through your home after spending your hard-earned cash to clean the carpets. Once every surface sparkles, I suggest giving each family member a special job—maybe even run drills—to ensure your home stays that way. Got pets? Keep fur balls and stinky smells at bay by sending Rover to Grandma’s house for an extended stay until you sell your home.

Call Candie Worsham for Expert Representation and 22 years Experience.






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