Murfreesboro Tennessee Real Estate
Displaying blog entries 1-10 of 442
Have you noticed a slump in home sales recently? Tune in to hear John discuss what's going on in the Rutherford County Housing Market.
It's not often John has an extracurricular assignment for his team, but the past few weeks we've been reading The Energy Bus by Jon Gordon as a company.
Tune into to hear why YOU should read it too!
Hey Guys! John Jones, Tuesday Morning Coffee. Thanks for tuning in. Today I am going to share with
you a book that my team and I are reading. Um, it’s a great book, I have read it 2 or 3 times. It’s called
the Energy Bus, John Gordon. Um, it’s basically a fable that gives you 10 rules to fill your life and team
with positive energy. It’s amazing, I probably need to keep reading this over and over and over again.
It’s amazing what you can do when you incorporate these principals into your life. The true
accomplishment you can receive out of life when you attack life and attack your day with a positive
spirit, a spirit of gratitude, a spirit of, uh, basically just being happy. That doesn’t mean we’re not going
to face challenges, we are. Every day we’re going to face adversity, we are going to face challenges.
There is no person in this world that goes through life untested. Uh, typically on a daily basis, uh, but
this book gives you 10 easy steps to draw upon and incorporate positive energy into your life to deal
with these challenges and in most cases turn them into positive experiences. Um, it’s an incredible
book, it has a lot of great, uh, easy to understand rules to kind of draw upon. One of my favorite rules in
the book is “how to deal with negativity”. Uh, how to deal with negative customers, how to deal with
negative teammates. It’s amazing the insight he gives you on that, so I truly encourage everyone,
everyone to read this book. It will, it’s a life changer, and uh, it’s such an easy read, you can give it to
your kids. I think it would be great, matter of fact, I am going to make all my kids read this book, or
encourage them to read this book and um, at such a young age and hopefully, take this approach that
Gordon gives us into their life. Thanks a lot!!
What does the stock market slump have to do with real estate? John explains in this week's Tuesday Morning Coffee.
Hey guys! John Jones, Tuesday morning coffee. Let’s talk about this stock market. The stock market has
dropped over 500 points the last two days, Friday and Monday. It gets a lot of people scared. What
does that mean to real estate? What does that mean, not only to real estate, from a national
perspective, but what does that mean for local real estate? Um, some experts will say that when the
stock market drops that that is good for real estate. That it will, in this instance, maybe prevent interest
rate hikes in the near future because they don’t want to hit both markets at once. Uh, some people will
say that when the stock market doesn’t do well that people invest into bonds which when bonds go up,
interest rates go down, so that also could be perceived good in real estate. Some other experts say that
when real estate goes down people want to invest, or excuse me when the stock market goes down
people want to invest their money into real estate, it’s a safer deal, so all those things could be positive
for real estate. Then you do have some experts that say when the stock market takes a plunge like it
did, that it freezes people, it puts a lot of fear into people, consumer confidence goes down. People
start worrying about their savings accounts. People start worrying about their investment accounts.
People start worrying about their jobs and therefore, it could negatively impact real estate. Um, at the
end of the day, I think we have to remember that real estate is local, every market is slightly different, so
although we are all effected by the global markets, the national markets, um, it really, what happens
here locally can outweigh those things. So, here locally, in Nashville, um, as long as there is good job
creation, there is a lot of excitement about this place and um, people have confidence in their jobs here
locally, um, I feel like our real estate will continue to thrive as it has in the last two years. Um, but when
one headquarters closes down, or something like that, locally, obviously could effect things, so we will
kind of stay on the look out. I don’t think it’s time to get real excited or get real scared either way, but it
is definitely something to keep our eye on as the Dow Jones did take a very heavy decline over the last
couple of days. If you need anything real estate related, call us at 615-867-3020.
Halfway through the 2015 and John gives an update on how the real estate market has changed from this time last year.
Hey guys! John Jones, Tuesday Morning Coffee! I am sorry I have been away for a while, but we are
gonna get back on track. Today, we are going to talk about the market, marketing report, or marketing
update for Rutherford County in the month of July. Also, we’re gonna talk about some year to date
numbers. Let’s get right to it, uh, July, year over year, compared to last July, closed sales up 33%, closed
sales up 33%, pendings up 27%, so we are probably going to have another big month next month. Uh,
listing inventory is down 20% over this time last year. We will talk about that more in a second. Uh,
days on the market, we were at 63 days in July last year, average days on the market, that number is
down to 50, ok, down to 50. Average sale price for last year was $201,000, this year it is up to $214,000.
Let’s talk about year to date, where do we stand compared to this time last year? Well, in ’15, closed
sales, closed listings were up 13, were up 13% for the year. Um, inventory is down 23% compared to
this time last year. Days on the market; last year we averaged 68 days, this year, it’s down to 56. And
average closed price; last year we averaged $187,000, this year we are at $206,000. That’s almost a 10%
jump in average closed price. So, as you can see, the market is very vibrant. There are a lot more buyers
in the market than there are sellers. Our inventories, that’s the thing to look at going forward, our
inventory is extremely low, especially in the $250,000 and under home. So, um, why is that? Um, I think
for a long time, we were always able to replace that type of product with new construction. That’s
becoming harder and harder to do because the cost of land, the cost of development has made those
lots so expensive, it’s hard to go in there and build a $180,000 house anymore, so, that’s gonna be
something we are gonna have to look at going forward. It’s gonna be a challenge in our market to find,
um, you know, new construction under $250,000, but, um, the market is on fire. If you are thinking
about selling, then give us a call. We have been helping our clients receive over full price offers. Um,
we’ve got a neat strategy on how we are helping folks do that, so don’t hesitate to call us at 867-3020.
Tune in today as John looks at the craziness of the market in 2015 and asks a few pointed questions as to where/what is going on in Rutherford County real estate.
Don't live in a brand-new home? John discusses how even your 20 year old home can bring in top dollar!
JOHN: Hey Guys. John Jones, Tuesday Morning Coffee, thanks for tuning in. Today we are gonna talk
about Homes in Subdivisions, where the age of the Subdivision is 20 years old. You say, “20
years, Gosh, that’s a long time.” We’re talking 1995, it’s not really that long ago. So, homes
that are 1995 or Subdivisions where the homes in there are 1990’s, guess what, they are across
the board on what you can expect to receive from them. What I mean by that today; I went to a
subdivision on the south side of town. There was everything from $82/sf to $98/sf. That’s a
huge difference. It’s like a, I don’t know, I didn’t do the math on it, but maybe what, like a
$30,000 difference in basically the same size house, the same age, in a subdivision. What is the
difference, why did this one get $30,000 more. It’s real simple: one house had kept their home
updated, had taken care of all the maintenance on the home and kept it painted up, had changed
the carpet out, had done the things over the years to bring it up to 2015. The other homes, that
were lower, didn’t and it’s quite simple, you can’t expect to get top dollar and premium from
your home if you’re not going to do the work to it along the way to deserve that kind of money.
Remember, buyers are willing to pay you a premium, if the house is move in ready, ok, and the
reason is, it’s human nature, it’s human nature. People that are buying homes, especially under
$250,000, typically don’t have a bunch of cash to sink into a home, other than the money they
are going to put down on the home, so, they will pay a premium to go ahead and have it ready
for them. It is up to us, as sellers, to go ahead and get the work done. Make it where the buyer
has no objections. If you will do that, you will get top dollar. For instance, the home I met with
today, their home if I had to sell it as is today, would probably be about a $215,000 home. It
needed paint, it needed carpet, it needed some fixtures, it needed a lot of things. A lot of it, just
deferred maintenance, not even really talking about adding things or making big improvements,
just making what’s there, better and newer. Okay. If they will spend anywhere from $12,000-
15,000, I will be able to get them probably around $245,000 for that home. Okay. That’s a
$30,000 difference with about half that investment and they will net $15,000-17,000 more by
doing that work. The reason why, they’re not making the buyer have to do it. I have had seller’s
go, “Hey John, we know it needs $15,000 worth of work, why don’t we just lower the price
$15,000 and that way, you know, the buyer can pick what they want”. The problem is, the buyer
is not gonna look at it that way, they’re not gonna say, “Oh well, we can probably just put our
$15,000”; A) they probably don’t have the $15,000 in cash, but B) is, if they are gonna have to
put the $15,000 in it, then they want to get a better deal than to have to fool with it. So, you are
always better off getting your home updated, keeping it painted, doing the flooring, doing all the
things you need to do to get top dollar; and you will get top dollar.
It's been six months, and John checks in with sales consultant Jim Dibble to hear about the ups and downs of being an agent.
John: Hey guys, John Jones, Tuesday Morning Coffee. It’s with great honor and privilege, I’m
gonna introduce you to Mr. Jim Dibble. Jim is one of our newer associates here at John Jones
Real Estate, one of our sales people. Jim, I’m gonna count rapid fire real quick, Jim, Where are
Jim: Clarksville, TN
John: Alright, Jim, What was your job prior to real estate?
Jim: I was the assistant golf course superintendent with Vanderbilt Legends Club in Franklin.
John: How many kids do you have?
John: And what ages?
Jim: 17 and 15, Oakland High School
John: Oakland High School. And uh, your wife’s name?
John: Alright. Your favorite things to do when you are not selling real estate?
Jim: Go to the beach, go fishing and play golf.
John: Alright. Jim, let’s talk about this a little bit. You have been in the business now, how
Jim: About 6 months.
John: Alright. And as a lot of you know out there, or don’t know, the first year in real estate is
the, the first 6 months especially, is the most brutal. I know I probably only cashed maybe 1
check, 2 checks in that first 6 months. So tell me, Jim, how’s it going for you? Tell me, now
that you have kind of got your nose bloodied a little bit, tell us about that experience.
Jim: It’s been real positive. Closed about 5 sales so far.
John: That’s awesome.
Jim: Met a lot of great people, got to help a lot of great folks. Getting my feet wet. It’s an
ongoing experience and I am looking for a big spring this year.
Jim: The way the market’s looking, I think we are gonna be able to cash in on a lot of sales.
John: Have you learned a lot in the last 6 months?
Jim: Absolutely. Learned how to talk to people.
Jim: Learned how to relate to folks. Find out what they’re looking for.
John: Trying to find out their needs and whatnot. What made you want to get into real estate?
Jim: Well, I really have a desire to help people and helping people get into a home is a life long
dream for a lot of folks.
Jim: And that’s been one of the big things is helping these first time home buyers get in a home.
It’s really a joy.
John: And, let’s back up a little bit. Your previous occupation, what did you do?
Jim: Grew grass for a living. Basically, I was a grass farmer on a golf course.
John: Not illegal grass..ok..it’s legal grass. Golf course. And you went to school to do that,
Jim: That’s right.
John: Where did you go? Tell me where you got your degrees from.
Jim: First time, I went to University of Tennessee at Martin in West Tennessee. That’s where I
met my lovely wife.
John: That’s awesome.
Jim: And later in life, I went back to Mississippi State University.
Jim: Big Bulldog fan…and
John: And got your degree
Jim: And got the degree in Golf Course Turf Management and moved on from there.
John: That’s awesome. Alright, last question, Jim. Our company, as some of you know or
don’t know, is a team concept company and what I mean by that is that kind of everybody works
together. We have a full time listing coordinator, a full time closing specialist, to try to give our
clients the most specialized service possible and the alternative to that is, kind of how I started
the business, is just go with a brokerage company if you are kind of on your own. Jim, now that
you kind of know and had the feel for real estate, what are the pros of what you did, coming on
with a team company?
Jim: Well, I feel like the biggest thing it has done for me is have years of experience behind me
that I can go to people and ask questions to, whether it is yourself or Tommy Davidson or
Michele; all these folks have been a great resource to me for all the questions that I have had and
all the experience that I am getting.
John: Right, right. And do you feel it’s a little bit easier, opposed to if you were out there by
yourself, where there are no leads coming in, to being in a company where the phones are
ringing and leads are coming in on the internet, to kind of help you get started. Has that been a
Jim: Absolutely, it’s been a big help. That’s where a lot of my sales have come from, leads that
come in on the phone and our website, that is always available to folks, so it’s been a big help.
John: Well, Jim, I know people are gonna want to talk to you, cause you are a man, you are a
person of interest. So, how would people get a hold of you?
Jim: The best way to get a hold of me is my cell phone 615-439-8175, call me or text me, I will
be glad to help you.
John: Give em that number one more time, cause I think the phone lines are gonna be buzzing.
John: Jim Dibble. John Jones Real Estate, clients first. Thank you.
Tune in to hear John discuss 5 mistakes to avoid if you're considering selling your home in this hot market!
John: Hey guys, John Jones, Tuesday Morning Coffee. Thanks for tuning in. Today we are
going to talk about the 5 biggest mistakes that home sellers make in pricing their property,
especially here in Murfreesboro. These are the ones that I see in the Rutherford County market
over and over again.
The number 1 thing I hear from sellers; How did you arrive at that price? Well, basically, it’s
what we want to net on the home. If we put it at this price, it’s gonna give us what we want to
get out of the home. Absolutely, has nothing to do with what a buyer will pay.
Number 2: They base their price on what it would cost to build the home today. Let’s say they
have done a lot of things. Let’s say they have done fences, they have done pools, detached
garages. They assume that every dime that they have put into that home should be, or what it
would cost to build all that stuff today is exactly what they should get for that house, which there
again, has nothing to do with what a buyer will pay for that home.
Number 3: They price it by square footage, okay, and maybe somebody back in their
subdivision sold their home, they heard for $100/sf, well, they just naturally assume that they
should get $100/sf. What if that home was a lot bigger than their home, their home may actually
bring more than $100/sf? What if that home was a lot smaller than their home, and their home is
more in average with the neighborhood. You know, it could go either way, so you definitely
can’t go by that alone.
Another popular thing I hear is that, well, the tax appraisal has said it is worth X. Tax appraisals
can be high, they can be low. It’s a computer logarithm that doesn’t take into a lot of things,
variable things about the home, like condition or where the home is located; is it located near a
main highway or on a perfect cul-de-sac lot. A lot of things like that don’t come up in a
That could be said also for maybe the most popular thing I am hearing now…the Zillow’s
estimate. Well, Zillow says my house is worth this. Well, Zillow can be right, it can be wrong.
You know, it definitely, it’s a computer, it definitely doesn’t take in some of the factors I just
mentioned before. In fact, I just did this on three homes I just sold. This home was in North
Murfreesboro, kind of in the Mitchell Nelson area. The Zestimate said it was $118,000, the tax
assessment said it was $120,000, it sold for $129,900. Ok, so neither one of them were correct.
This is a condo out in the Indian Hills, South Murfreesboro area. Zestimate said it was worth
$188,000, tax appraisal said it was worth $146,000, it actually sold for $170,000, okay. Neither
one of them were right. South Murfreesboro, this is a home I just put under contract. The
Zestimate said it was worth $459,000, the tax appraisal said it was worth $420,000, it just went
under contract for $350,000. So, what does Zestimate mean, what does tax appraisal mean, can
they accidentally get it right every now and then? Sure, but these are the three, the only three I
pulled up, I didn’t go searching for, these are the last three, the first three that I pulled up and all
three of them are way off, both Zestimate and tax appraisal.
So, be very careful, how do you find the price? Hire a good realtor like myself. We will come
out there and help you, but truthfully, you gotta look at current market data. What are homes,
like yours, selling for? Ok. And also, you gotta factor in marketing trends, absorption rates,
inventory supplies. Is the market trending up right now, can we go for a few more dollars than
maybe the last guy or is the market trending down. Those are all factors that go into it, but if you
hire a good professional realtor, they can help you and guide you on pricing that home to sell.
The FHA is lowering the Annual Mortgage Insurance Premium on January 26th! John gives a brief insight into what that means for new FHA loan home buyers.
John: Hey Guys! Tuesday morning coffee. We have big news, ground breaking news. FHA,
for the first time in the history of the loan, is reducing their Annual Mortgage Insurance
Premium. Effective the 26th of this month, FHA loans on the annual insurance premium, which
is currently at 1.35% of your base loan amount is going down to 0.85% of your base loan
amount. What does that mean in dollars, on a $200,000 house, that will be lowering a payment
of $84.00. Ok, what does $84.00 do for somebody? It allows them to probably buy another
$15,000 in house if they so choose or save $84.00 per month. The bad news is, it is only for new
loans after the 26th, it’s not retro, it doesn’t go into effect on loans that are already out there,
existing FHA loans, you would have to refinance to take advantage of it, but it’s the first time
this has ever happened and a good sign of things to come. FHA or the government is doing this
because they feel real comfortable with the reserves right now, which are upwards of $7 Billion
and they feel very comfortable with that so they are lowering that premium for home owners to
help them purchase houses. So, if you have any questions about it, please give us a call at 615-
867-3020. Thank you!!