Selling Your Home

Copyright © Selling Your Home courtesy of Kenneth Bargerse, Greater Nashville Realtor®
The Process​ | Working as a Team to Accomplish Your Goal!

There is a Buyer for every home!  Working as a Team and having a clear understanding of your goals and expectations is key to a successful conclusion in selling your home.  Some common concerns for homeowners are time constraints, net value at closing, and other financial obligations.

Let's begin by review the following topics:


  • Understanding the Market - National
  • Understanding the Market - Greater Nashville
  • Understanding the Market - Your Neighborhood (password protected)
  • Evaluating Your Property (password protected)
  • Staging
  • Marketing
  • Showing​
Understanding the Market | National Overview

2016 Marked Best Year for Sales in a Decade

Existing-home sales finished out 2016 as the best year since the housing boom days, the National Association of REALTORS® reported.

Total existing-home sales – which are completed transactions that include single-family homes, townhomes, condos, and co-ops – closed 2016 at 5.45 million sales, surpassing 2015 (5.25 million). It was the highest total for existing-home sales since
 2006 (6.48 million), NAR reported.

“Solid job creation throughout 2016 and exceptionally low mortgage rates translated into a good year for the housing market,” says Lawrence Yun, NAR’s chief economist. “  However, higher mortgage rates and home prices combined with record low inventory levels stunted sales in much of the country in December.

The final month of 2016 saw existing-home sales drop 2.8 percent to a seasonally adjusted annual rate of 5.49 million, NAR reported. Sales in December were now only 0.7 percent higher than a year ago. Low housing supplies continue to press on the market.

“While a lack of listings and fast rising home prices was a headwind all year, the surge in rates since early November ultimately caught some prospective buyers off guard and dimmed their appetite or ability to buy a home as 2016 came to an end,” Yun says.

Mortgage Rates Hit Highest Levels in 6 Weeks
Freddie Mac   article by Daily Real Estate News | October 6, 2017

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 5:

  • 30-year fixed-rate mortgages: averaged 3.85 percent, with an average 0.5 point, rising from last week’s 3.83 percent average. Last year at this time, 30-year rates averaged 3.42 percent.
  • 15-year fixed-rate mortgages: averaged 3.15 percent, with an average 0.5 point, rising from last week’s 3.13 percent. A year ago, 15-year rates averaged 2.72 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.18 percent, with an average 0.4 point, falling from last week’s 3.20 percent average. A year ago, 5-year ARMs averaged 2.80 percent.

Nationally: Housing Shortages Constrain Existing-Home Sales
National Association of REALTORS®    article by Daily Real Estate News | September 20, 2017

For the fourth time in five months, existing-home sales dropped as a shortage of homes for sale continues to plague the housing market. Strained supply levels of homes are making it that sales are unable “to break out,” according to the National Association of REALTORS®’ latest housing report, released Wednesday.

The following are some key housing indicators from NAR’s latest report:

  • Home prices: The median existing-home price for all housing types in August was $253,500, up 5.6 percent from a year ago.
  • Inventory: Total housing inventory at the end of August dropped 2.1 percent to 1.88 million existing homes available for sale, and is now 6.5 percent lower than a year ago. Unsold inventory is at a 4.2-month supply at the current sales pace, down from 4.5 months a year ago.
  • Days on the market: Fifty-one percent of homes sold in August were on the market for less than a month. Properties typically stayed on the market for 30 days in August, down from 36 days a year ago.
  • All-cash sales: All-cash transactions comprised 20 percent of transactions in August, down from 22 percent a year ago. Individual investors account for the biggest bulk of cash sales. Investors purchased 15 percent of homes in August, up from 12 percent a year ago.
  • Distressed sales: Foreclosures and short sales accounted for 4 percent of sales in August, slipping from 5 percent a year ago. Broken out, 3 percent of sales in August were foreclosures, and 1 percent were short sales.
Understanding the Market | Greater Nashville

The Greater Nashville area continues to be one of the hottest real estate markets in the United States.  Building momentum in 2014, the values and home sales continued to increase throughout 2015 and ended the second half of 2016 as a consistent monthly Top 20 housing market in the nation.  Per realtor.com, Nashville was ranked in the Top 20 eight (8) times in 2016.

Due to the reputation of the "It City", relocation is heavy to Middle Tennessee and with this popularity comes shortages in housing inventory.  Existing homes and new construction struggle to keep pace with the number of Buyers.  Housing Inventory remained a concern throughout 2016.  

Home prices continue to increase in value throughout 2016 in comparison to the improvement of 2015.  Middle Tennessee ended the year with very strong production - all good indicators for 2017!

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Some key highlights from Septembrer 2017 housing data:

  • 3,544 home closings September 2017; a 2% increase from September 2016
  • 3,292 under contract at end of September 2017
  • Median residential price for single home dwelling was $280,000 September 2017 compared to $256,900 September 2016
  • 9,358 housing inventory at the end of September 2017 compared to 10,350 housing inventory of September 2016
  • Average Days on Market was 27 days
Staging | Prepping Your Home

Showoff your square footage and floor plan- Floors, Walls, Ceilings, Windows! Selling your home while you still occupy the premises can be a challenge to your every day routine but the opportunity of a first impression is key to a second showing and/or Offer from a potential Buyer.  Consider these areas of staging when prepping the home.

  • Ease of movement - make sure there are pathways throughout home
  • De-clutter the home
  • Edit down the furniture, if necessary
  • Organize the closets - the floors should be empty
  • All counter-tops for the kitchen and bathrooms should be as clear as possible to show off the working space
  • Attempt to remove any furniture from blocking windows
  • All storage spaces, including the pantry and garage, should be well-organized
  • Make sure each room has its own purpose - for example, a bedroom should not be a dual area for an office or exercise equipment
  • Edit as many personal items as comfortable to you from the home including pictures, achievements and awards
  • Make sure all light bulbs are functional
  • Front Door - is your front door welcoming - do you need to polish or paint the door - is your hardware old, tarnished or beyond repair - please consider this important first impression
  • Outdoors - make sure the property is manicured including the lawn, trees, bushes, landscaping - make sure your outdoor living area is organized and usable 
Marketing​ | Exposure! Exposure! Exposure!

Starting the home buying process online continues to be the first step that many home buyers are taking. Forty-two percent of recent buyers first looked online for the properties for sale, with 92 percent of all recent buyers using the Internet at some point during the home search process. Over half of recent home 
buyers used a mobile or tablet website or application to search for a home. Of the home buyers who used the Internet to search for a home, 47 percent found the home that they ultimately bought online.

The Internet is a key target within the marketing toolbox necessary to promote the maximum exposure of your home!

  • Multiple Listing Service (MLS) - this real estate network initiates your listing exposure throughout the nation.  There are currently over 800 MLS databases throughout the nation with listings shared among all of America's brokers, real estate agents and realtors.  The MLS Listing feeds to secondary-tiered national real estate sites such as HomeSearch, Trulia, Zillow, etc.
  • Real Estate Industry Networking Sites
  • Social Networking Sites
  • Postlets Real Estate Classified Platform - distributes to public home search engines including local classifieds, Craigslist, etc.
  • Exclusive domain address to promote property; for example: www.123mainstreet.com
  • Bargers Solutions and Pilkerton Realtors websites
  • E-blast distribution - electronic flyers and marketing announcements targeting realtors and selected e-distributions groups
  • Marketing Print Materials - market sheets, postcards, announcements, brochures
  • Professional Photography
  • Open Houses - periodic open houses usually scheduled on Sundays from 2:00pm-4:00pm - promotion of open houses are advertised a week in advance and also tagged through the MLS system
  • Executive and Estate Properties - additional distribution to targeted corporate relocation departments, chamber of commerce, advertise print publications
  • Vacation and Retreat Properties - additional national distribution, advertise print publications
  • Properties with more than 25 acres also included in MLS Land Listings category
  • Commercial properties - additional distribution to main commercial platform of LoopNet 
Scheduled Showing​ | It's Showtime!

Here are some prep items to remember for your scheduled showing.  If you are out of town or unable to accomplish these tasks beforehand, please give me a call and I will make sure the home is ready for the potential Buyer:

Let there be light!  Make sure all lights, including lamps, are on

Marketing materials are placed in a central location such as kitchen counter top or entrance table - marketing materials include Listing Sheets, Marketing Sheets, Property Condition Disclosure, Business Cards

All windows should be uniform allowing light to flow in the house - all blinds should be up or slats open with the same slant

The candy dish and welcome note should be displayed on the kitchen counter top or entry table

Even though the REALTOR® will be there to walk the potential Buyer through the home - please be sure your jewelry and personal valuables are locked away