Thursday, October 25, 2007

Today's Top Ten!!!!

Today's Top Ten signs that it is time to sell your home.

10. When you bought your house, you lived in the country. Now you're surrounded by high rises.

9. You can't get any appliances repaired because "they stopped making those parts years ago"

8. The swing set in the backyard has sprouted roots.

7. The plumber's number is on your speed dial.

6. Your phone number is on your plumber's speed dial.

5. All the children's rooms are now guest rooms.

4. You haven't visited the other half of the house in six months.

3. You have to move the furniture to see the carpet's original color.

2. Your bathroom is a lovely shade of avacado green......from the first time that it was in style.

And today's #1 sign that it is time to sell your home...........

1. You can't make any improvements to the exterior of your home without getting approval from the Board of Historic Monuments.

For assistance with the purchase or selling of real estate in the Greater Nashville area give me a call, I would be glad to help. God Bless

Nick Woodard
Keller Williams Realty

Wednesday, October 17, 2007

Selling your home in a cool market

SELLING YOUR HOME in a cooling market is stressful at best. A couple years ago, headlines screamed of bidding wars and of homes moving off the market within days. No more. Across the country, new home prices are now down slightly from one year ago. And many predict housing prices will fall farther before they're done.

So if you plan to sell your home in the near future, call a handyman to make sure everything is in working order. Then take a close look at your local real-estate market and find out what's selling, what's not and why. Finally, don't expect to get more for your house than your neighbor got a year ago. This is a different market, warns Nelson Zide, co-owner of ERA Key Realty Services in Framingham, Mass. Look at more recent sales data and price your home accordingly.

That said, can you still get a good price? You bet. Here are some more tips to help you get top dollar for your house.

Price, Price, Price
Selling a house is all about price. Ask too much, and you could get stuck with a home that languishes on the market. The longer it sits, the harder it is to unload. "The first question a buyer asks is how long the house has been on the market," says Pamela Liebman, chief executive of New York-based real-estate firm the Corcoran Group. "If it's been on a while, they ask what is wrong with the house."

Ironically, homeowners who ask more for their homes tend to get less in the end. According to Liebman, studies show that if you price your home properly it will sell faster and at a higher price than if the home was priced aggressively. "Overpricing leads to low bids," Liebman says. "Proper pricing leads to high bids."

So how do you set the right price? First, take a look at recent sales in your neighborhood. And don't forget to factor in the condition of your house. A home buyer in a more neutral market is still going to pay up for a new kitchen with Poggenpohl cabinets and a Sub-Zero Refrigerator. But if you failed to notice that Harvest Gold stoves and countertops went out of style with bell bottoms and love beads, you had better be prepared to drop your price by about as much as it would cost a new owner to renovate your relic.

Curb Appeal
First impressions are everything. The last thing you want is to turn off a potential buyer before he or she walks in the door. So make sure the house is painted, and call a landscaper to get your lawn in tip top shape. "If your grass isn't green, make it green," Liebman says. "If you have weeds, get rid of them. If the shrubs are overgrown, cut them." Even small, inexpensive potted flowers can make your home seem more inviting.

Some renovations are worth an investment. An extra bathroom makes a home more saleable, says Jim Cory, senior editor at Remodeling Magazine. A few cans of paint and new carpeting could also provide a handsome return. An outdated eight-room home in South Philadelphia, for example, might go for roughly $130,000, says Cory. Pull the shag carpeting and wood paneling — a project that costs roughly $15,000 — and that same home could list for $180,000.

Fix Everything
Make sure everything works. Have an inspector assess everything from your water heater and furnace to your central air conditioning system. "If there are any doubts about the mechanical functions, a buyer will walk," Remodeling Magazine's Cory says.

Even minor repairs are crucial. Hire a contractor to go through your home with a fine-toothed comb. Make sure the gutters are cleaned and the tub has new grout and caulk in the joints. Every window must slide open, and kitchen cabinets should open with ease. And don't forget to paint over ugly water stains. If you don't, a potential buyer could see it as a warning sign of a larger issue.

If you're inclined to leave your home as is, prepare to drop your asking price. "I hate to say it, but price cures everything," says Era Key Realty's Zide. Historically, buyers negotiate two dollars for every dollar of reported deficiencies, according to home-inspection company HouseMaster.

Additional Tips
There's some basic advice that's worth repeating. Keep your home as clean and as pristine as possible. This means cleaning out your closets and getting rid of excess clutter and furniture. You want your home to look as spacious as possible. The Corcoran Group's Liebman even suggests fresh flowers. "Baking cookies could be a bit silly and obvious," she says.

How long will all this take? Give yourself a good six months. It takes time to plan, and then to coordinate projects with a contractor or handyman. Just know that the hassle will be worth it. With a little hard work, you can get the best price for your home in any market.

Nick Woodard
Keller William Realty Franklin,TN

Monday, October 15, 2007

Q & A about your credit score

My friend was told by a "debt counselor" that he should keep his credit utilization ratio at about 30 percent because having it too low would hurt his score. I dispute this notion. My (credit ration) generally sits between 1 and 4 percent based on monthly purchases (paid in full) during a statement period. Can you settle this dispute?
-- John R., Phoenix Ariz.

In general, making generalizations about credit scores is not a good idea.

According to the people who created the scoring system, a lower credit utilization is usually gives you a better score. That's why closing credit accounts without paying down debt on open accounts can lower your score. By reducing your total credit limit without a corresponding drop in your debt balance, you raise the ratio of debt to credit limit.

Still, your score is based on a complex formula that takes a number of factors into account. For more on how it works, check out the Fair Isaac & Co (FICO) Web site. They used to be fairly secretive about how the scoring works, but these days they’re happy to share the criteria with the public.

As for your friends “credit counselor,” in my opinion many of those holding themselves out as counselors are simply selling more credit. The common scam is to consolidate loans into a new one, charge a higher interest rate and then stretch out the term for many more years to lower the monthly payment. Since most people are so fixed on monthly payments they go along with this. But they end up paying much more interest before the loans are paid off.

The only credit counselors we believe to be legit are those certified and affiliated with the National Federation of Credit Counselors. You can find one in your area by going to

For a list of reputable qualified lenders or assistance with your next real estate transaction, visit

Thanks and God Bless,

Nick Woodard
Keller Williams Realty

Monday, October 8, 2007

September closings in Willimson County Tennessee

Williamson County Association of REALTORS® Announces September Housing Numbers
October 8, 2007 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of September 2007. There were 364 residential and condominium closings reported for the month of September, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.
Compared to September of 2006, the single family residential closings decreased 30 percent and the median price decreased by 2 percent. Condominiums closings have decreased by 42 percent and the median price increased by 8 percent. The average days on the market (DOM) for residential homes have decreased by 35 percent and condominiums have increased by 14 percent. Days on the market have been consistent since the onset of 2007, with the days ranging from 61 - 68 days. Median prices have remained consistent since January 2007, ranging from $367,500 to $391,200. The median is a typical market price where half of the homes sold for more and half sold for less.

"Our County continues to attract buyers and sellers of property and homes. Although the market is not performing to 2006's record-setting year, the market has been consistent since the beginning of 2007 and the trend of seasonal closings is consistent year over year," said Susan McKinney, 2007 President of the Williamson County Association of REALTORS®.

For more information about our real estate market or for my personal real estate services, please contact me at 615.566.9839 or go to Thank you and God Bless.

Nick Woodard
Keller Williams Realty

Thursday, October 4, 2007

Increasing your home's value

Increasing Your Home’s Value

Which improvement projects will give the highest return on your investment? Five tips from a top appraiser.

With an increasing number of properties hitting the market, you want to make sure that you’re doing all the right things to get top dollar for your property. And while you cannot change your house’s location or size, there are a number of ways you can easily affect the value of your house. “By spending a few hundred dollars on improvements you might earn a few thousand in payback,” says Terry Dunkin, president of the Appraisal Institute. Here are five things that may help secure your asking price.

Maintenance pays off—big time. A house’s condition can be critical to the appraiser’s or potential buyer’s impression, because it indicates the homeowner’s attitude toward his property. “A well-maintained house tells the buyer that you’ve taken care of your property and care about it,” says Dunkin. That helps buyers feel confident that they won’t discover big problems that have been left to fester. But frayed carpets, peeling paint and cracked sidewalks say just the opposite. Luckily, a house’s condition can be a relatively quick fix. By investing in a paint job and new carpets, you can easily up the value of your house.

Keep up with the Joneses. If you’re guessing at whether it would be a wise investment to add granite countertops or an in-ground pool, the best way to decide is by taking a look around the neighborhood. “You don’t want to be particularly above or below your neighbors,” says Dunkin. Hiring an appraiser who is familiar with your area can be particularly helpful in determining how your house measures up. Says Dunkin, “They are out in the neighborhoods and know, for example, if three-quarters of your neighbors do have granite countertops.”
Size does matter. We’re talking in terms of both property and the house itself. And unlike location, you do have a few tricks up your sleeve for this one. “The way you get bigger bang for your buck is by creating living space within the confines of the existing structure,” says Dunkin. That means getting a bit creative, by adding a new bedroom in an attic or converting a basement into a family room.

Some rooms are better than others. When appraisers are valuing a house, the bedrooms and bathrooms are particularly important, because they indicate how many people could comfortably live in the house. This can make an additional bedroom a particularly wise investment.

It’s all about balance. Always keep in mind the cost of improvements versus the impact they’ll have on your appraisal. Investing in a pool if you live in California, for example, may have a significant impact on your house’s appraisal. Doing the same thing in New Hampshire, however, is probably not the wisest investment. Once again, Dunkin recommends working with an appraiser if you need more insight into how much a particular improvement or amenity will add to your house’s value.

Thanks for stopping by and God Bless

Nick Woodard
Keller Williams Realty Franklin, TN