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5 Things Home Owners Need To Know About Boosting Home Value

by John Jones

I receive weekly calls from current and past clients inquiring about whether or not certain renovation projects are worth the time and investment. Today I want to talk about the 5 most important home improvements you can do to add value to your home and prepare it for resale in this current market. I’ll also talk about a few improvements that will add more personal value than monetary gain. 

Before diving into the list, I want to stress to home owners the importance of continued maintenance of your home from the moment you take ownership. Continued upkeep will end up benefitting you in the long run and is easier on the wallet as opposed to making a bunch of renovations at the time you are ready to list. 

Your home is one of the biggest investments you’ll ever make. Capitalizing on that investment by tackling these 5 projects to help increase your home’s value: 

  1. Paint: Wall space is the most noticeable element in any home. A new coat of fresh paint is the best way to transform and revitalize any room in your house. Neutral colors tend to attract more buyers because it allows them to focus on the home’s attributes. White and beige color schemes work with most types of furniture, so buyers will be able to see themselves in the space. 
  2. Clean / Updated flooring: Next to wall space, flooring is another thing people first notice upon entering your home. While hardwood flooring is a very popular asset to your home, clean, high-quality carpet can be quite attractive and will create a warm atmosphere. Be sure to repair any flaws in your flooring and have your carpets professionally cleaned or replaced if necessary. 
  3.  De-clutter and depersonalize: Vital to the pre-listing process is de-cluttering and depersonalizing your home as much as possible. Thoroughly cleaning your home, removing personal belongings like family photos and minimizing decorative accents will make it easier for potential buyers to imagine themselves living in the space. 
  4.  Update Fixtures and Hardware: Replacing old light fixtures and door hardware can go a long way in making your home appear up-to-date and modernized. Long gone are the days of all brass fixtures. Oil-rubbed bronze or brushed nickel accents have become trends that many home buyers now look for when perusing homes in today’s market. Installing new hardware fixtures throughout the home is a simple and inexpensive endeavor that can make any space brighter and more appealing thus creating a better overall sensory experience for the potential buyer. 
  5. Landscaping - Making very minimal changes to your outdoor landscaping can vastly improve your homes curb appeal. Mowing your lawn, pulling weeds, removing dead or overhanging branches from trees, trimming overgrown shrubs and bushes, and adding a fresh layer of mulch to garden beds are some of the basic maintenance items that will help spruce up your home’s exterior. I don’t recommend spending a boatload of money on elaborate landscaping schemes. This can sometimes overwhelm potential home buyers because they lack the desire or ability to maintain it. 


There are many home improvement projects from which home owners will gain a lot of personal value that won’t necessarily bring as much ROI. Now, I am all for putting in that swimming pool you’ve always had Clark Griswold dreams about. The memories you will create with your family and friends will last a lifetime and you can't put a price tag on that. Just remember that a pool is a pricey investment that often times will only bring you about one-third of the monetary return. Other enhancements such as detached garages and elaborate media rooms tend to bring sellers only about half of the money they spent on the project. 

Be sure to tune-in to my Facebook page again next Tuesday at 10AM where we’ll be discussing more relative information about the Rutherford County housing market. As always, don’t hesitate to Contact Us if we can assist you with any of your real estate needs!

Rutherford County Housing Market: 2015 Recap & 2016 Expectations

by John Jones

Live from Facebook…it’s Tuesday Morning Coffee!

Thanks to everyone who joined our very first Facebook Live stream this morning. I had a blast, and I hope you did too! 

We just finished up a very successful year at John Jones Real Estate and are looking forward to another great year for the local market. Which brings me to our topic for today: “A Recap of the 2015 Rutherford County market and What To Expect in 2016.”  

Last year was a great year for me both personally and professionally. For single-family residential sales, the market continued it’s growth as we saw interest rates fall to the lowest they’ve been in over a decade. Closed sales were up 10% from the previous year (2014) however total listings were down 21%, which is the lowest we’ve seen in quite some time. This is due mostly to the fact that construction came to a halt after the market crash in ’08 and because of that, inventory is down while builders attempt to play catch-up to the population growth that continued in this area during that time. We saw median days on the market decrease from 54 days in 2014 to 44 total days on the market in 2015. Homes were selling faster and at nearly an 11% higher price at $190K (from $170K) year-over-year. Median square footage for single-family homes in Rutherford County came in at 1978 sq. ft and averaged a little bit over $96 per foot, which is up 6% from 2014. 

A lot of people have inquired about the value of their home and the appreciation rates as they pertain to the growth in our local market. Sometimes this is a tricky question, because experts tend to base home value on varying factors. I always look at median cost per square foot because I believe it paints the truest picture of home value. To understand the current appreciation rate in our area, I believe we must touch on exactly what happened in previous years to understand the type of growth we are experiencing today. 

From 2000-2007 we had what I call the “thunder-clap” market, all of these factors were in play at once: baby boomers were at their peak buying potential, lending practices were completely unregulated and for the first time, Wall Street got involved in the mortgage game (if you haven’t seen the movie The Big Short based on the book by Michael Lewis, get to the theater. I promise, you won’t be disappointed.) All of these factors came to together to create the perfect storm which ultimately led to what I like to call “The Lost Years.” Between the years of 2008-2012, millions of people lost their jobs and their homes, and builders, developers and real estate agents - including yours truly - lost their ass…ets. I consider November 2011 to be the point our market bottomed out here in Rutherford County as far as home sales, home value and overall volatility of our local market. We finally started to see pick-up during 2012 and our market has continued to steadily improve. Prices are up 21% from that low point in Nov. 2011 and up 6% from last year as I mentioned previously. Now does that mean every home’s value has increased 6%? No. That is merely the median value increase based on that current median value of $190K. For a $250-$300K property, your home might have only appreciated between 4-5%. The value of your home is going to also be determined by the strength of our market in regards to the price point of your property. Be sure to give us a call if you have more questions regarding the resale value of your current home. 

The biggest change we saw in 2015 was the growth in condo/townhome sales. In 2006, we had the most number of condo sales in the history of our market…until last year, where we were up 6% from 2006. The reason for that is because condos and townhomes have become new starter homes for first-time home buyers. 

So this brings me to the topic of trends and expectations for real estate in Rutherford County in the coming year. Based on what I’m seeing from last year and experts in this industry, the next few years should be vibrant barring some unforeseen shakeup that is out of the market’s control. Millennials (<34 yrs) will continue to be the largest generation group of home buyers followed by financially recovering Gen Xers and older baby boomers who are downsizing. Interest rates will ease up but should remain manageable. Across the nation, rental rates are predicted to rise faster than home prices due to the expected demand. Overall, I expect 2016 to be another banner year in real estate sales and I am looking forward to the continued growth of our community in this optimistically stealth market. 

Read up on the National Housing Market Forecast for 2016-2017 here

Be sure to tune back in next Tuesday at 10am for another Tuesday Morning Coffee LIVE on Facebook.  

 

 

Open Houses Sunday, October 18 2015

by Janelle Hederman

Premium Prices for Older Homes

by John Jones

Don't live in a brand-new home? John discusses how even your 20 year old home can bring in top dollar!

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.

John checks in with new real estate agent Jim Dibble

by John Jones

It's been six months since Jim Dibble officially started his new career in real estate, so John checks in to see how his experience has been since becoming a new 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 
you from?
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?
Jim: 2
John:  And what ages?
Jim:  17 and 15, Oakland High School
John:  Oakland High School.  And uh, your wife’s name?
Jim:  Julie
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 
long?
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.
John:  Right
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.
John: Sure
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.
John:  Sure
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, 
correct?
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. 
John:  Bulldogs.
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 
plus?
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.
Jim:  615-439-8175
John:  Jim Dibble.  John Jones Real Estate, clients first.  Thank you.

If you're looking to buy or sell home, be sure to give Jim Dibble a call at 615-439-8175

5 Mistakes Sellers Make Pricing Their Homes

by John Jones

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 
computer logarithm.  
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.

 

FHA Reduces MIP Rate

by John Jones

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!!
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!!

Do We Have A Housing Shortage?

by John Jones

Do we have a housing shortage in Rutherford County? Tune in to hear John explain what different price points mean to buyers and sellers.

Do We Have a Housing Shortage?
John:  Hey guys!  John Jones here with Tuesday Morning Coffee.  Thanks for tuning in.  Do we 
have a shortage of inventory in Rutherford County?  That’s the question I want to answer today, 
but before I answer that question, let’s talk about what a market looks like.  Let’s talk about a 
seller’s market and a buyer’s market and everything in between.  The general rule of thumb is, 
that 0 to 3 month supply of homes on the market is totally a seller’s market, okay.  4 to 6 month 
supply of homes on the market is generally kind of a balanced market, doesn’t really favor the 
buyer or the seller either way.  Anything over 6 months, definitely turns to a buyer’s market and 
if you recall, in the pit of the recession, we got up to over 11 month supply of homes, 11 months, 
okay.  So, it was definitely a buyer’s market at that time.  Let’s look at Rutherford County right 
now; over all, we have 1,100 homes, single family homes on the market.  That’s a 2.58 month 
supply of homes on the market, so definitely overall we would be considered a seller’s market.  
When you break it down into price ranges, it will even make a little more sense to you.  Under 
$150,000 home in Rutherford County, under $150,000, we have a 1.36 month supply of homes.  
Definitely, a seller’s market.  $150,000 to $200,000, we have a 1.76 month supply of homes.  
Definitely, a seller’s market.  When you go $200,000 to $300,000 in Rutherford County, it jumps 
up to a 3.65 month supply.  So now, it’s becoming a little more balanced, but definitely, in my 
opinion favoring the seller.  When you get to $300,000 to $400,000 it jumps up to 5.75, now 
that’s more of a balanced market, not really favoring either party.  When you go over $400,000 
in Rutherford County, it becomes 8.66 month supply of homes on the market, so definitely still a 
buyer’s market, in the higher price ranges in Rutherford County.  So what does all that mean?  
Well, basically, it means that overall, we have a very vibrant market, and if you are in a house 
under $300,000, it’s definitely gaining value as we talk.  If you are a seller right now, it’s the 
best time we have had to sell your home in the last 7 years.  If you are a buyer, it’s a time that if 
you are looking in certain price ranges, where you have to be able to act fast, you have to be able 
to expect multiple offers and you really have to look at what the folks are asking for the house 
and if it’s fair, you better be willing to pay full price.  If you ask the question, why do we still 
have homes on the markets in those price ranges, why are some of those been sitting around for a 
while?  Don’t get me wrong, just because we are in a seller’s market, doesn’t mean you still 
don’t have overpriced listings.  You are still going to have sellers push the envelope on how 
much they think their home is worth or how much they want to try to get for their home.  Some 
of the disadvantages of this time for a realtor, is you do have to deal with appraisal problems 
cause the market is moving up and there aren’t the comps to support the most current sale.  A lot 
of times, we have to fight with the appraisals and we come in with some lower appraisals, 
because they do everything based on past sales.  So, anyway, I hope that helps explain the 
market.  If you have anything, call us at 615-867-3020.

 

Do We Have a Housing Shortage?
John:  Hey guys!  John Jones here with Tuesday Morning Coffee.  Thanks for tuning in.  Do we 
have a shortage of inventory in Rutherford County?  That’s the question I want to answer today, 
but before I answer that question, let’s talk about what a market looks like.  Let’s talk about a 
seller’s market and a buyer’s market and everything in between.  The general rule of thumb is, 
that 0 to 3 month supply of homes on the market is totally a seller’s market, okay.  4 to 6 month 
supply of homes on the market is generally kind of a balanced market, doesn’t really favor the 
buyer or the seller either way.  Anything over 6 months, definitely turns to a buyer’s market and 
if you recall, in the pit of the recession, we got up to over 11 month supply of homes, 11 months, 
okay.  So, it was definitely a buyer’s market at that time.  Let’s look at Rutherford County right 
now; over all, we have 1,100 homes, single family homes on the market.  That’s a 2.58 month 
supply of homes on the market, so definitely overall we would be considered a seller’s market.  
When you break it down into price ranges, it will even make a little more sense to you.  Under 
$150,000 home in Rutherford County, under $150,000, we have a 1.36 month supply of homes.  
Definitely, a seller’s market.  $150,000 to $200,000, we have a 1.76 month supply of homes.  
Definitely, a seller’s market.  When you go $200,000 to $300,000 in Rutherford County, it jumps 
up to a 3.65 month supply.  So now, it’s becoming a little more balanced, but definitely, in my 
opinion favoring the seller.  When you get to $300,000 to $400,000 it jumps up to 5.75, now 
that’s more of a balanced market, not really favoring either party.  When you go over $400,000 
in Rutherford County, it becomes 8.66 month supply of homes on the market, so definitely still a 
buyer’s market, in the higher price ranges in Rutherford County.  So what does all that mean?  
Well, basically, it means that overall, we have a very vibrant market, and if you are in a house 
under $300,000, it’s definitely gaining value as we talk.  If you are a seller right now, it’s the 
best time we have had to sell your home in the last 7 years.  If you are a buyer, it’s a time that if 
you are looking in certain price ranges, where you have to be able to act fast, you have to be able 
to expect multiple offers and you really have to look at what the folks are asking for the house 
and if it’s fair, you better be willing to pay full price.  If you ask the question, why do we still 
have homes on the markets in those price ranges, why are some of those been sitting around for a 
while?  Don’t get me wrong, just because we are in a seller’s market, doesn’t mean you still 
don’t have overpriced listings.  You are still going to have sellers push the envelope on how 
much they think their home is worth or how much they want to try to get for their home.  Some 
of the disadvantages of this time for a realtor, is you do have to deal with appraisal problems 
cause the market is moving up and there aren’t the comps to support the most current sale.  A lot 
of times, we have to fight with the appraisals and we come in with some lower appraisals, 
because they do everything based on past sales.  So, anyway, I hope that helps explain the 
market.  If you have anything, call us at 615-867-3020.

December 2014 Housing Statistics

by John Jones

Tune in as John recaps the real estate market in Rutherford County for 2014 and forecasts 2015.

December 2014 Housing Statistics
John:  Hey Guys!  John Jones here.  Tuesday morning coffee.  The New Year’s addition.  Happy 
New Year everybody.  I want to take this time to talk about the market for 2014 and maybe what 
to expect in 2015.  2014, let’s start with just the month of December.  Month over month, we 
were up 20% in closed sales.  So, there again, for about the past quarter, the whole last quarter, 
every month was 20% or better.  So, kind of a crazy ending.  Pendings were also up 27%, so that 
means we should see the continued increases that we are seeing, next month.  Inventory was way 
down for the month, 18% less homes on the market than this time last year.  Year to date, how 
did we do in the Rutherford County single home market?  For the year, we were up 10% in home 
sales over last year with a grand total of 4,910 homes sold.  To give you some reference point, 
2006 was the best year we ever had, and I believe there was right around 6,500 homes sold that 
year.  I think our bottom in 2011 was 2,900 homes, so are at 4,900 this year, so obviously things 
are coming back up.  Our closed price for the year, was $189,000, compared to $175,000 last 
year, so home prices are definitely coming up.  Our inventory is down 7% for the year, over last 
year, so definitely still have some inventory issues.  Which is gonna keep continuing to drive 
prices up.  Rates are still low, you know, incredibly low, and they’ve stayed there.  Don’t know 
how much longer they are gonna be that way, but it looks like with the economy, the job 
situation, and everything going on in the greater Nashville area.  Nashville is hot as a fire 
cracker, which means the surrounding areas are gonna be hot.  So, I think you’re gonna see 
continued upward swings in the market this year.  I think we are gonna continue the climb that 
we have had.  The issue that I think we are gonna have this year is gonna be inventory in certain 
price ranges.  I think you are gonna see in the lower price ranges, it’s basically, it’s gonna be all 
existing homes.  I don’t think, you know, under $130,000, that builders can even build a home, a 
single family home, anymore because of the rising costs to even produce a starter home for 
somebody in the price range, unless it’s a townhome of some sort.  So, I think townhomes are 
gonna become our starter homes at starter home prices and I think we are gonna have a void in 
the market in new construction, probably anywhere under, honestly, $250,000.  I think new 
construction is gonna be hard to find in that price range, so you’re gonna see, it’s gonna be 
mainly existing homes.  So therefore, I think we are gonna have some inventory issues that we 
are gonna have to deal with.  So, if you are thinking of selling, it’s an absolutely great time to 
sell, best time it’s been in probably 5 or 6 years to sell a home.  And if you are looking at buying, 
I would go ahead and look into buying because prices are gonna continue to rise, interest rates 
are still low, so it gives you the opportunity to go out there and hopefully lock in a good interest 
rate for 15 or 30 years.  If you should need anything real estate related, give us a call at 615-867-

 

December 2014 Housing Statistics
John:  Hey Guys!  John Jones here.  Tuesday morning coffee.  The New Year’s addition.  Happy 
New Year everybody.  I want to take this time to talk about the market for 2014 and maybe what 
to expect in 2015.  2014, let’s start with just the month of December.  Month over month, we 
were up 20% in closed sales.  So, there again, for about the past quarter, the whole last quarter, 
every month was 20% or better.  So, kind of a crazy ending.  Pendings were also up 27%, so that 
means we should see the continued increases that we are seeing, next month.  Inventory was way 
down for the month, 18% less homes on the market than this time last year.  Year to date, how 
did we do in the Rutherford County single home market?  For the year, we were up 10% in home 
sales over last year with a grand total of 4,910 homes sold.  To give you some reference point, 
2006 was the best year we ever had, and I believe there was right around 6,500 homes sold that 
year.  I think our bottom in 2011 was 2,900 homes, so are at 4,900 this year, so obviously things 
are coming back up.  Our closed price for the year, was $189,000, compared to $175,000 last 
year, so home prices are definitely coming up.  Our inventory is down 7% for the year, over last 
year, so definitely still have some inventory issues.  Which is gonna keep continuing to drive 
prices up.  Rates are still low, you know, incredibly low, and they’ve stayed there.  Don’t know 
how much longer they are gonna be that way, but it looks like with the economy, the job 
situation, and everything going on in the greater Nashville area.  Nashville is hot as a fire 
cracker, which means the surrounding areas are gonna be hot.  So, I think you’re gonna see 
continued upward swings in the market this year.  I think we are gonna continue the climb that 
we have had.  The issue that I think we are gonna have this year is gonna be inventory in certain 
price ranges.  I think you are gonna see in the lower price ranges, it’s basically, it’s gonna be all 
existing homes.  I don’t think, you know, under $130,000, that builders can even build a home, a 
single family home, anymore because of the rising costs to even produce a starter home for 
somebody in the price range, unless it’s a townhome of some sort.  So, I think townhomes are 
gonna become our starter homes at starter home prices and I think we are gonna have a void in 
the market in new construction, probably anywhere under, honestly, $250,000.  I think new 
construction is gonna be hard to find in that price range, so you’re gonna see, it’s gonna be 
mainly existing homes.  So therefore, I think we are gonna have some inventory issues that we 
are gonna have to deal with.  So, if you are thinking of selling, it’s an absolutely great time to 
sell, best time it’s been in probably 5 or 6 years to sell a home.  And if you are looking at buying, 
I would go ahead and look into buying because prices are gonna continue to rise, interest rates 
are still low, so it gives you the opportunity to go out there and hopefully lock in a good interest 
rate for 15 or 30 years.  If you should need anything real estate related, give us a call at 615-867-

November 2014 Housing Statistics

by John Jones

November Housing Market Stats for Middle Tennessee are in! Tune in to hear John's take on what this means for you as a buy or a seller!

November 2014 Housing Statistics
John:  Hey guys!  John Jones.  Tuesday morning coffee.  Thanks for tuning in.  Today we are 
gonna talk about November numbers.  First, we want to look at the month.  We were up 10% in 
closed sales over last November, so we are continuing the trend of double digit increases, which 
started in September.  Pendings are up 12%, so it looks like it could continue on into next month.  
Active listings for the month are down 15%, so we have still got a little shortage of homes out 
there.  Average days on the market, this November 62, last November 65, so that is obviously 
coming down a little bit.  Average close price last November was $181,000, this November 
$194,000, so prices tend to be increasing pretty nicely.  When we look at year to date for the 
year, we are up 9.6% for the year, so almost 10%, so we keep moving up on closed sales.  Our 
active listings are down 6% from this time last year, year to date, so our inventory is still 
shrinking.  Days on the market for the year are at 66, compared to last year, 71, so that number 
looks good.  Our average sales price, year to date, for the market is $190,000, last year it was 
$175,000, so things are continuing to be very robust for the market.  A lot of activity.  If you are 
a seller, don’t be scared of this time of year.  I have talked to quite a bit of sellers lately and they 
keep talking about waiting until the Spring, the Spring market.  Well, guess what, there will be 
more sellers in the Spring, so you will have more competition.  If you have to sell your home, 
don’t be scared to put it on the market right now, you will have a lot less completion.  So, if there 
is anything we can do to help you, call us at 615-867-3020.  Thank you!!
November 2014 Housing Statistics
John:  Hey guys!  John Jones.  Tuesday morning coffee.  Thanks for tuning in.  Today we are 
gonna talk about November numbers.  First, we want to look at the month.  We were up 10% in 
closed sales over last November, so we are continuing the trend of double digit increases, which 
started in September.  Pendings are up 12%, so it looks like it could continue on into next month.  
Active listings for the month are down 15%, so we have still got a little shortage of homes out 
there.  Average days on the market, this November 62, last November 65, so that is obviously 
coming down a little bit.  Average close price last November was $181,000, this November 
$194,000, so prices tend to be increasing pretty nicely.  When we look at year to date for the 
year, we are up 9.6% for the year, so almost 10%, so we keep moving up on closed sales.  Our 
active listings are down 6% from this time last year, year to date, so our inventory is still 
shrinking.  Days on the market for the year are at 66, compared to last year, 71, so that number 
looks good.  Our average sales price, year to date, for the market is $190,000, last year it was 
$175,000, so things are continuing to be very robust for the market.  A lot of activity.  If you are 
a seller, don’t be scared of this time of year.  I have talked to quite a bit of sellers lately and they 
keep talking about waiting until the Spring, the Spring market.  Well, guess what, there will be 
more sellers in the Spring, so you will have more competition.  If you have to sell your home, 
don’t be scared to put it on the market right now, you will have a lot less completion.  So, if there 
is anything we can do to help you, call us at 615-867-3020.  Thank you!!

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The Jones Team-
John Jones Real Estate LLC
239 John Rice Blvd. Suite A
Murfreesboro TN 37129
615.867.3020
Fax: 615-217-0197

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Murfreesboro, TN 37129
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