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Buyer’s Agent in A Seller’s Market

Buyer Agent Nashville Chase Leatherwood

Nashville has been sustaining historic economic growth as the place to start and build a lifestyle for all walks of life, from singletons to families. I’ve seen this happening for several years in the local real estate market, and the data confirms it—this is a Seller’s market with high concentrations in East Nashville.

What’s A Seller’s Market?

A seller’s market means that the person selling a property has been put in the position to get multiple, competitive offers. It doesn’t mean you won’t get a great deal on your dream home… but it could be a quick turnaround for closing inspections and signing dates.

I’m Ready To Buy Now.

When you’re ready to buy a home, I am available as your agent – for FREE. Seriously.

Finding a home is a process that happens every day. I walk through the entire process with you, regardless of the situation. We start with what you want most in a home, where you’d like to live in Nashville and start the search process. We’ll find the home of your dreams, on your terms.

Regardless of where you are, we can work showings in to fit your lifestyle. If you’re not available to attend a showing, there may be an open house over the weekend. If relocation to Nashville is in your future for work, technology is on our side! I can set up a virtual tour for you with FaceTime or other video chat and conferencing tools.

Putting In An Offer

So we found you the perfect house. Now is when a lot of Tennessee real estate laws work to our benefit. The Tennessee real estate laws require certain disclosures, inspections, and a title search to close on a property and transfer ownership. I recommend clients who are buying a home to hire their own home inspections.

Uh-oh! There’s Competing Offers

Nashville has a ton of people coming in to live, work, and play at a historically high growth rate. It’s a common real estate story in our city to have competing offers in with yours. While we can’t know exactly what other offers are on the table, our offer can be as bold as you’d like within the limits of your budget.

In the event that the seller’s needs are not met in your offer, they can counter offer. The seller can request for more time until the closing date, an adjustment to the closing costs, or the initial repairs requested from your viewing. If the counter-offer isn’t ideal or beneficial for you as a buyer, you can walk away from the sale.  

They Accept Your Offer

Once you have an accepted offer, it’s time to start negotiating the contract and final offer. Depending on the age and state of the property, it’s normal to request repairs or funds to replace worn out flooring. The best part of this process: you don’t need to be present during negotiations. An added bonus – my real estate services are still free of cost to you.

The offer paperwork and inspections will feel like it’s taking forever… maybe even five-ever. In this time frame, from offer accepted to contract and close, we’re coordinating inspections, repairs, and requests on the seller’s schedule. I am in the loop on this process and can inform you as much as you’d like to be.

Let’s Get Together

If you’re not sure if you’re ready to buy a house, I always available to talk through the up and coming Nashville neighborhoods, from East Nashville to Sylvan Park. You can find me online at https://chaseleatherwood.com/ or give me a call directly at 615.988.0355.

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Closing on a House

Closing On A House Nashville Chase Leatherwood

We’ve made it this far. It’s time to start the closing process on your property.

Buyers, your offer for the home of your dreams has been accepted. Sellers, you’ve accepted the best offer and have started to move. Now, we get the Legal Eagle on board to make sure the bottom line is ready to sign.

I don’t really have an eagle on staff but I do have a list of fees, inspections, and title search that are required by Tennessee State Laws for all real estate transactions.

Escrow & Earnest Money

Earnest money is the lump sum of cash from the buyer to the seller. It’s held in escrow and applied to the closing costs and fees on the property. If the offer is not accepted or falls through, the money is returned to the buyer as the contract was not validated.

Property or Seller’s Disclosures and Inspections

The purpose of a property disclosure in Tennessee is to have the seller share the details of the systems or structure of the house. As a seller’s agent, we’ll go over this document at your listing appointment. Check out the REALTOR pre-listing disclosure form here. If you’re heavily considering a home, we can request the property disclosure and related documents to evaluate it further and prepare a competitive offer.

If the property you’re buying or selling was built before 1978, the house will need to comply with EPA standards for lead-based paint and related hazards.

As a buyer’s agent, I advise my clients to get their own inspections before closing on a property. It allows us to get a second opinion on repairs (needed or completed) and any issues of concern.

Then, depending on the results of the inspections, the purchase agreement may be renegotiated to reflect needed repairs and resulting changes to the closing costs.

Title Search Before Final Closing

In the state of Tennessee, it’s required for a real estate attorney to search for any issues with the deeds of the house in public record. I often work with Rudy Title for all of my closing transactions when I represent you as a seller.

The title search is essential for determining if there are any liens or easements tied to the property and/or home. My title company works through the deeds related to the property.

Signing The Bottom Line

After the inspections and title search are all clean, a date is set for the closing appointment. Typically this occurs at the title company’s office so that the documents can be filed for public record by the real estate attorney.

If you’re unable to attend the closing due to being out of town, we can reschedule the closing. If no other dates are available, we can designate someone as your power of attorney to sign for you.

The title company is also in charge of certifying the funds for the closing. This includes the down payment from the buyer. They will coordinate with you to get the appropriate banking and lender information.

After the signing, we will stay in touch. It’s always a pleasure to keep up with clients as they grow into a home and make it their own. You can always reach me on social media or through my newsletter.

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6 REASONS TO LOVE LOCKELAND SPRINGS

Lockeland Springs is Nashville’s artisanal paradise—everything there looks hand-crafted, from historic homes to The Idea Hatchery, an incubator for hyperlocal shops. If you’re looking to buy in Lockeland springs, you’re in very good company: homes start around $275,000, and you should definitely expect competition. But there’s an excellent reason why everyone’s itching to get into east Nashville’s gem of a neighborhood. It’s heaven. Here’s six reasons why:

 

#1. There Really Are Springs

The problem with all those cookie-cutter subdivisions with names like “Pinecrest Ridge” or “River Chase” (okay, one problem) is that even the names mean nothing: Where’s the ridge? Where’s the river? But there is a real, honest-to-God Lockeland Springs… in fact, an entire park, located on the former site of the old Lockeland mansion. The water was once so highly valued for its medicinal properties that they used to bottle and sell it. They don’t anymore, but you can still enjoy the park—not to mention the nearby community garden.

 

#2. Shelby Park Is Pretty Cool, Too

While plans for redeveloping Lockeland Springs Park are still underway, Shelby Park’s in full flower. There’s a golf course, playgrounds, a dog park, and live performances and movies.

#3. The Annual Holiday Home Tour

Lockeland Springs is a living lesson in architectural history, with authentic styles ranging from Italianate to Queen Anne to 20th Century Craftsman. To celebrate it, the Neighborhood Association celebrates its Holiday Home Tour each December. It’s a great way to see some beautiful homes (and meet people who could be your future neighbors)!

 

#4. So Very Much Amazing New Retail

Lockeland Springs is about more than its charming past. It’s also home to new food and retail developments. We’ve already mentioned the uber-popular Idea Hatchery… be sure to check out Walden at Eastland and Chapel, home to Jeni’s Splendid Ice Cream and Two Ten Jack’s amazing ramen. Over on Fatherland and 11th is The Fatherland District, a fast-growing collection of shops and restaurants that includes The Galena Garlic Company, Konadu Body Care, and the C Williams Writing Studio.

 

#5. Galleries Galore

Where do we start? Lockeland Springs has creativity in its bones. Try the Plowhouse Artists Coop, Billups Art, and The Art & Invention Gallery for starters. And if you need more than just a feast for the eyes…

 

#6.It’s Music to Your Ears

This is Nashville! Lockeland Springs is home to Fanny’s House of Music, “Nashville’s most comfortable music store,” home to a great selection of electric and folk instruments. There’s also historic Woodland Studios, currently enjoying a renaissance thanks to Gillian Welch and David Rawlings. If you’re looking for live performances, check out The 5 Spot, The East Room, The Green Room… really, you can’t go wrong here.

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11 Highest Home Sales in Nashville Start at $5M

This weeks The Chase features top of the market sales for November 11-24. The highest home purchase price went for a total of $5,000,000. Read below to learn more about the top 11 highest home sales in Nashville, TN.

Address: 2000 Ashwood Ave., 37212

Purchase price: $1,095,000

Buyer: Dawn G. Patrick

Seller: Aspen Construction LLC

 .           

 

 

Address: 1129 Radnor Glen Dr., 37027

Purchase price: $1,475,00

Buyer: Adam J. And Kathleen E. Davis

Seller: Scott P. and Jennifer Schreiber

 .           

 

 

 

Address: 700 12th Ave S., 37203

Purchase price: $1,500,000

Buyer: Roger D. Clark Trustee

Seller: James F. Jr. and Barbara B. Turner

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Address: 2708 Tyne Blvd., 37215

Purchase price: $1,500,000

Buyer: Terrence and Nicole Doherty

Seller: James L. Uden

 .           

 

 

 

Address: 3908 Trimble Rd., 37215

Purchase price: $1,587,500

Buyer: Kathleen R. Rosenthal Trustee

Seller: Elizabeth Baldwin

 .           

 

 

 

Address: 701 Westview aka 4315 Iroquois Ave., 37205

Purchase price: $1,595,000

Buyer: Andrew and Mary C. Healy

Seller: Albert P. And Elizabeth Lamb

 .           

 

 

 

Address: 6 Lynnwood Ln., 37205

Purchase price: $1,600,000

Buyer: Katherine K. Alexander Trustee

Seller: Samuel W. And Judith J. Owen

 .           

 

 

 

Address: 1205/1213 Robinson Rd., 37138

Purchase price: $1,900,000

Buyer: ECG Old Hickory LP

Seller: Lana C. Robinson

 .           

 

 

 

Address: 714/716 Russel St., 37206

Purchase price: $2,350,000

Buyer: Blaine H. Smith Trustee

Seller: David L. Haverkamp

 .           

 

 

 

Address: 2018 Fransworth Dr., 37205

Purchase price: $2,399,000

Buyer: Harold E. Jackson III

Seller: Stanley and Robin Hopp

 .           

 

 

 

Address: 308 White Swans Crossing, 37207

Purchase price: $5,000,000

Buyer: Anthony M. Sanfilippo and Angeline J. Sanfilippo Trustees

Seller: Clinton S. Higham Trustee

 .           

 

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For Sale by Owner: Lockeland Springs

This weeks Make Me Move Nashville is in the East Nashville Neighborhood of Lockeland Springs. The prior MLS record indicates this was last sold as a 2 beds, 1 full Bath, single family remodeled brick cottage with designer decor. The home also features refinished hardwood floors, dining area, good storage, new windows, and antique styled bathroom. You will also find a large outdoor deck space with a covered patio, hot tub, fully fenced-in yard, and great neighborhood.

East Nashville is known for their restaurants, hipster attitudes and a place for the locals to hangout. If you’ve ever been to the East Nashville Tomatoes Festival you know just how fun and neighborly this community can be. It’s very progressive and has come a long way in the past 10 years.

  • Make me move list price is $350,000
  • Last advertised Sq ft: 850 sq ft
  • Price/sqft: $265
  • Neighborhood: East Nashville | Lockeland Springs

If you’d like to schedule a time to look at this home you can click here to book a time with me.
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5 GREAT GERMANTOWN RESTAURANTS (AND ONE GREAT HOTEL)

Nestled along the western shore of the Cumberland River, Nashville’s Germantown neighborhood has been described many ways, all of them attractive: charming, walkable, tree-lined, even boutiquey. One word we’d like to throw into the mix is “delicious.” This neighborhood is home to amazing cuisine! Here’s a few great Germantown restaurants to get you started, ranging from a quick bite to a leisurely night out.

#1. Lulu

From the people who bought you Burger Up, Josephine, and the Frothy Monkey, Lulu is fast-casual dining with flair. The menu includes three different juices, labeled Red, Orange, and Green (they’re all fresh, tasty, and natural). There’s excellent composed grain bowls and salad for the health-conscious—but if you’re not ready to say goodbye to animal protein, enjoy a burger made of Triple L Ranch Beef. And don’t miss the soft-serve ice cream… never mind, you can’t, it’s right next to the door.

#2. Steadfast

This local roaster lives by the three Cs: Coffee, Creativity, and Community. Try Steadfast’s flash-chilled coffee, rested drinks (an espresso and milk concoction that’s allowed to “rest” before serving) and their famous Matchless coffee sodas. But don’t feel like you have to stick to the familiar: folks here are always rethinking the art of coffee.

#3. City House

City House earned a James Beard award for a sleek internationalist take on classic Italian—pork sausage with pho broth, bread gnocchi with rabbit sugo, and delectable pizzas. Word has it they’ve got an amazing Sunday supper, including a southern-style catfish that’s out of this world.

#4 Monell’s in Germantown

Are you looking for a big all-you-can-eat southern dining experience? Monnell’s in Germantown is your stop featuring a 4.8 Google rating. Their dishes include breakfast, lunch, and dinner menus smoked sausage, eggs, biscuit and gravy, skillet fried chicken, fried catfish, stuffed shells, and fried cheese. This place is a destination for both tourist and the locals.

#5. Henrietta Red

Simple elegance is the watchword at Henrietta Red, which offers fine vegan options like cauliflower steak in addition to signature fare like fried oyster sandwiches. In fact, pretty much everything involving oysters is Henrietta Red’s pride and joy.

#6. The Germantown Inn

If you’re thinking about moving to Germantown and want to get a real vibe for the neighborhood, a night or two at the Germantown Inn is not to be missed. This Federal-style two-story home, built in 1865, has been reinvented as a boutique inn. They don’t serve food here—but you’re right in the middle of all the great restaurants, and it’s wonderful to walk home from your meal.

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Real Estate Terms Every First-Time Home Buyer Should Know | Chase Leatherwood Realtor®

You’ve found the perfect home, your bid was accepted, and your mortgage was approved. Home free, right? Don’t forget about the contract! Unless you grew up in a family of realtors, all those real estate terms can start to sound like the teacher in a Charlie Brown special (Wma-ma-MAW-maw!). Be on alert: terms that sound similar may have narrow legal definitions that you would do well to observe. Your real estate agent should be there to advise you during contract negotiations—but it can’t hurt to do a little homework on your own.

 

#1. Appraisal

Never mind the asking price: your lender will want an independent appraisal of its actual value. That’s because your house is collateral for a loan, and they need to know they’ve got a way of recovering their investment if you’re unable to repay.

 

#2. Earnest Money

Chances are you’ve already dealt with this one, since a high earnest money offer is a strong incentive to sellers. What you may not know is that if the contract doesn’t go through, the process for getting your money back differs from state to state. It’s generally better if contingencies are covered in the contract: for example, if the house is appraised for far less than you paid, an appraisal contingency can save you a lot of hassle.

#3. Disclosures

Sellers are legally required to fill out a property disclosure that reveals any defects they’ve become aware of since taking possession of the property—and there’s the thin ice you’re on. A seller is only responsible for what they’re aware of, so if you suspect they’re holding anything back, get an inspection. Intentionally withholding information in a seller’s disclosure legally constitutes fraud.

 

#4. Inspections

You have the right to an inspection of any defects in the home (usually within a week or two of your offer being accepted). A thorough inspection can reveal problems that may have escaped your notice during viewings. Once the inspection is complete, you can a) accept the house as is, b) terminate the contract and return the earnest money, c) or request repairs. If the refuses to make repairs, you once again have the option to terminate.

 

#5. Title Search

This is usually (but not always) a routine process of determining that the seller has clear and uncontested ownership of the home and is legally entitled to transfer ownership to you. Title searches can become messy if the home is contested in a divorce, or if there are liens on the property. This is why it’s always a good idea to take out title insurance to cover your losses in case the house becomes unmarketable.

 

#6. Kick-out Clause

You may need to sell your old home before you can buy a new one. In this case, the seller may insist on a “kick-out clause” that permits them to go on showing the house. If you’re unable to sell your home in the agreed time period, then the seller has the option to accept a new offer and “kick out” your offer.

 

#7. Effective Date

This is the date on which your sales contract is considered valid for the purpose of starting the machinery rolling toward closing. Every sales contract contains time-sensitive terms (such as the date for an inspection) that are dated back to when the last party signed, initialed, and/or made changes to the contract.

 

#8. Closing

What sellers, buyers, and agents all live for. This is the day on which everyone gathers around the table to confirm that the terms of the contract have been fulfilled and it’s time to sign all the final paperwork: the buyer provides the funds, the seller gets the amount due to them… and you get to move into your lovely new home.

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PRICE REDUCED | Werthan Lofts Germantown | 2 BD | 2 BTH | $462K

Click images to schedule a private showing.                       

 

Click here for any questions or to schedule a showing.

This is an awesome 2 bed/2 bath unit at historic Werthan Lofts gated community with almost 1500 sq ft. in the highly desirable Germantown neighborhood you’re not going to want to miss out on. With it’s open floor plan, this unit at Werthan Lofts is unique and features the original wood flooring and exposed bricks and beams from the old mill that was renovated in the late 2000’s into living space that truly sets this community apart from others. Located on the 3rd floor with no-one above you and being a corner unit, this is one of the best that the community has to offer with tons on windows for natural light and a great view of the city.

Also included at Werthan Lofts are common areas that can’t be beat. As a resident,youll have access to two award winning pools on site, grills available for use, a twenty-four hour fitness center,  Bocce ball court, and indoor/outdoor parking for your convenience.

This is the perfect place to buy wether you’re wanting to be close to all the downtown action (less than a 5 minute drive), great restaurants and bars, or city living living with a down home vibe. First Tennessee park is also walking distance for all you Sounds fans out there!

Come on out this Sunday 10/29 2-4 to check this place out for yourself and see what living here is all about! Give me a call at 615.988.0355 or click here for any questions or if you would like a private showing.

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Lockeland Springs Nashville | 6 Reasons to Love | Chase Leatherwood Realtor

LOCKELAND SPRINGS NASHVILLE | 6 REASONS TO LOVE LOCKELAND SPRINGS

Lockeland Springs is Nashville’s artisanal paradise—everything there looks hand-crafted, from historic homes to The Idea Hatchery, an incubator for hyperlocal shops. If you’re looking to buy in Lockeland Springs in Nashville, you’re in very good company: homes start around $275,000, and you should definitely expect competition. But there’s an excellent reason why everyone’s itching to get into east Nashville’s gem of a neighborhood. It’s heaven. Here’s six reasons why:

 

#1. There Really Are Springs

The problem with all those cookie-cutter subdivisions with names like “Pinecrest Ridge” or “River Chase” (okay, one problem) is that even the names mean nothing: Where’s the ridge? Where’s the river? But there is a real, honest-to-God Lockeland Springs… in fact, an entire park, located on the former site of the old Lockeland mansion. The water was once so highly valued for its medicinal properties that they used to bottle and sell it. They don’t anymore, but you can still enjoy the park—not to mention the nearby community garden.

 

#2. Shelby Park Is Pretty Cool, Too

While plans for redeveloping Lockeland Springs Park are still underway, Shelby Park’s in full flower. There’s a golf course, playgrounds, a dog park, and live performances and movies.

 

#3. The Annual Holiday Home Tour

Lockeland Springs is a living lesson in architectural history, with authentic styles ranging from Italianate to Queen Anne to 20th Century Craftsman. To celebrate it, the Neighborhood Association celebrates its Holiday Home Tour each December. It’s a great way to see some beautiful homes (and meet people who could be your future neighbors)!

 

#4. So Very Much Amazing New Retail

Lockeland Springs is about more than its charming past. It’s also home to new food and retail developments. We’ve already mentioned the uber-popular Idea Hatchery… be sure to check out Walden at Eastland and Chapel, home to Jeni’s Splendid Ice Cream and Two Ten Jack’s amazing ramen. Over on Fatherland and 11th is The Fatherland District, a fast-growing collection of shops and restaurants that includes The Galena Garlic Company, Konadu Body Care, and the C Williams Writing Studio.

 

#5. Galleries Galore

Where do we start? Lockeland Springs has creativity in its bones. Try the Plowhouse Artists Coop, Billups Art, and The Art & Invention Gallery for starters. And if you need more than just a feast for the eyes…

 

#6.It’s Music to Your Ears

This is Nashville! Lockeland Springs is home to Fanny’s House of Music, “Nashville’s most comfortable music store,” home to a great selection of electric and folk instruments. There’s also historic Woodland Studios, currently enjoying a renaissance thanks to Gillian Welch and David Rawlings. If you’re looking for live performances, check out The 5 Spot, The East Room, The Green Room… really, you can’t go wrong here.

 

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Buying A Home In Nashville | Chase Leatherwood Realtor

THE NO-FEAR HOME BUYER’S GUIDE TO NASHVILLE

Nashville is booming… are you buying?

Last year, 38,594 residential properties sold in Nashville, with a median price of $266,408 for a single-family home. We’re pretty sure that meets anybody’s definition of an aggressive seller’s market—so if you’re moving to Nashville, we couldn’t blame you for looking forward to the home-buying process like a dog looks forward to vacuum cleaners.

If so, this is where your pulse rate goes down. Despite what you may have heard, you can buy a Nashville home and stay chill.

Get to Know the Neighborhoods
Nashville isn’t a city in the usual sense of the word… more like a lot of little communities that bumped into each other (that’s why so many of our street names abruptly change from one neighborhood to the next). Each one has a unique personality, so take time to find one that matches your own. If you love historic homes and restaurants you can walk to, check out Inglewood, Germantown, and Lockeland Springs. If you’re looking to dive straight into quirky bohemian paradise—close to the music and Nissan Stadium—East Nashville’s for you.

Buy or Rent?
If you’ve been hearing about amped-up competition for Nashville homes, you may be tempted to rent for a year and see how the market goes. However, right now it’s actually cheaper to buy than rent (this video tells you why). Make sure you check out the HOA dues and property taxes. Depending on where you’re planning to live, buying could save you a lot.

The Competition is Real
Inventory is low and prices are rising, particularly as you start to look eastward. Some of it’s about the buzz, a lot more is about getting your kids into the best school districts. If you see a home you love, expect it to get multiple bids. Talk to your realtor beforehand so you know what your best offer will be, and be prepared to make an offer on the spot. If the game gets too rich for your blood, the worst that can happen is you walk away and keep looking.

Nashville’s Old-School Social
You can often avoid a bidding war by keeping your ear close to the ground and learning about homes before the word gets out. Get to know people who’ve lived here a long time—we’re a pretty friendly bunch. Make sure your realtor really knows the neighborhoods. They’ll hear about great listings a long time before they show up on the Web.

Get Pre-Approved
Not to be confused with pre-qualified, which is only the first step of a much longer process. Getting pre-approved for a mortgage means you walk into the negotiation with a letter that shows a bank is ready to lend you money. This will give you a huge advantage over anyone who has to scramble for a down payment. Pre-approval takes time, but it means you can bid with confidence, and you’ll be in a better position to offer a short and simple escrow (which is as good as cash to many sellers).

Let the Seller See You as a Person
It’s about more than money: selling a home is often an emotional decision. If you love the home, chances are they did, too. Now’s the time to show them how much. Write a long letter, telling them who you are and what it would mean to own this wonderful home. Include photographs. All other factors being equal, the seller’s more likely to lean your way if they see their home will be safe in your hands.

Closing’s a Little Different Here
Ask your realtor to walk you through the closing process before you start looking, so you know what to expect. Tennessee laws are different than many states. For example, around here the seller is under no obligation to grant an extension on the closing. If you miss the closing date, you’re in breach of contract. Yet another reason to get pre-approved and avoid possible delays.

Relax… You’re In Nashville
You won’t hear a lot of stories about people “settling” for Nashville. The neighborhoods are walkable, the bars and restaurants are great, and there’s trees everywhere. If you’ve got an opportunity to move here, you’ve already achieved something amazing. The rest is just finding the right home to complete your Nashville dream. We can think of a lot of great homes you’ll want to see: no fear of that.