Red Realty

Home sales through the roof

Steven Dotson — Fri, 11 May 2012 20:44:32 +0000

http://m.dnj.com/localbusiness/article?a=2012305100019&f=690 - please enjoy the read.… Read the rest

The Red Report- April 2012

Steven Dotson — Mon, 07 May 2012 15:10:59 +0000

The Red Report

April 2012 Home Sales Report:

CLOSINGS 2012

Month Rutherford Williamson Davidson Wilson

January 183 167 396 90

February 222 189 413 107

March 288 242 526 162

April 354 292 627 133

CLOSINGS 2011

Month Rutherford Williamson Davidson Wilson

January 169 140 302 92

February 152 150 329 85

March 259 245 427 133

April 251 209 467 112

May 278 305 518 138

June 263 316 596 134

July 290 337 521 158

August 289 274 572 158

September 261 244 527 131

October 259 232 468 144

November 238 201 425 129

December 231 264 508 143

TOTAL 2,940 2,917 5,660 1,575

April 2012 Home Sales once again prove the real-estate market is on the rebound!

Ok, I’ve been holding back my excitement as much as I can so I’m going to go out on a limb here and say that

we have officially turned the corner to a better improved real-estate market. I haven’t been this excited

about the future of our market in quite some time and it keeps getting better each month. Yes, some of it

is seasonal, but even the seasonal numbers are much better than last year.

Closings up, Inventories down, and Pendings higher than the same time last year tells us we are on the rebound.

Prices are a little mixed/flat, but I’ll elaborate on that towards the end of the report.

Total Closings up 35% for April 2012 verses April 2011 (Wow!).

Year to date Closings are up 25%.

Total Inventories are down 12% from April 2011 to April 2012.

Closings for April 2012 vs April 2011:

Rutherford closings up 41% with average closed prices up 2%.

Williamson closings up 40% with average closed prices up 11%.

Davidson closings up 34% with average closed prices down 3%.

Wilson closings up 19% with average closed prices up 11%.

You can expect a little jump, but 19-41% increases is incredible. We are on the rebound and the pending numbers

below say we’ll keeping on going up.

Prices are starting to improve a little and will continue to improve as volume increases, inventories decrease,

more properties get multiple offers and appraisers adjust accordingly.

Closings from March 2012 to April 2012:

Rutherford closings up 23% with average closed prices down 4%.

Williamson closings up 21% with average closed prices up 5%.

Davidson closings up 19% with average closed prices down 6%.

Wilson closings down 18% with average closed prices up 7%.(Wilson was up abnormally by 51% last month so a decrease is expected)

Prices are mixed- see below.

Pendings for April 2012:

Rutherford pended 425 which is up 20% from last month.

Williamson pended 383 which is up 8%.

Davidson pended 723 which is up 7%.

Wilson pended 200 which is up 27%.

All Pending are up so May should be another strong month of Closings.

Prices: why are prices mixed/flat?

One reason is just the natural supply and demand of the market, but there is another reason that the general public may not see

or hear about that I think is important to understand. That other reason for pricing issues is the federal government’s regulations

on the appraisers and banks. The government who allowed lending practices to get too lose decided they would fix the problem

by going too far the other direction. Appraisers/Banks have a new set of rules/regulations that are not helping the real-estate

market’s prices. The appraisal selection process is improving, but still a little ridiculous when an appraiser who is three counties

away gets on the rotation and ends up appraising a home in a subdivision he/she has never heard of. Appraisers should be

allowed to serve their market where they know all the factors. Appraisals are improving, but we still see multiple offer

situations where several buyers were willing/able to buy a home for a certain amount and then the appraisal still comes in

5-10% below the price several buyers were willing to pay. That still happens more often than you think and that is a

concern. If the supply/demand justify a price then an appraisal should not stand in the way. It seems like the appraisal

regulations are not allowing the pricing to do what the supply/demand is naturally doing to improve the prices. The appraisals

are improving, but they have a long ways to go to get back to the middle. Yes, I’ll be the first to admit we don’t need to go back

to previous lending practices where anyone that had a job and less than mediocre credit could buy a home with 100%+ loans,

but we could come back to the middle to allow the market to naturally set the prices, not the opinions of federal regulators.

I hated to bring up the appraisal issues with such a great report on the numbers, but I think we all need to be aware and

voice our opinions so that hopefully the regulations will improve to help our pricing naturally increase with the demand.

May should be another great month. I’m sure we’ll still see all the seasonal trends up/down and we have a long ways to go to

get to 2006 sales volumes, but these numbers above are all a great sign for a recovery over the next couple years!

Thanks,

Steven

Steven Dotson

President

Red Realty

www.RedRealty.com

www.RedSavesGreen.com

Direct: 615.896.1400

111 Lynnford Dr, Murfreesboro, TN 37128 | $189,000 | MLS#: 1355666

Kristin — Tue, 17 Apr 2012 19:40:50 +0000

Great opportunity to get in before Wal-Mart breaks ground. Selling as land only. Commercial Potential Property

… Read the rest

The Red Report- March 2012

Steven Dotson — Thu, 05 Apr 2012 15:02:17 +0000

The Red Report

March 2012 Home Sales Report:

CLOSINGS 2012

Month Rutherford Williamson Davidson Wilson

January 183 167 396 90

February 222 189 413 107

March 288 242 526 162

CLOSINGS 2011

Month Rutherford Williamson Davidson Wilson

January 169 140 302 92

February 152 150 329 85

March 259 245 427 133

April 251 209 467 112

May 278 305 518 138

June 263 316 596 134

July 290 337 521 158

August 289 274 572 158

September 261 244 527 131

October 259 232 468 144

November 238 201 425 129

December 231 264 508 143

TOTAL 2,940 2,917 5,660 1,575

March 2012 Home Sales continue to show positive signs the real-estate market is improving!

Closings up, Inventories down, and Pendings higher tell us we have an improved Spring/Summer market ahead of us.

Total Closings up 14% for March 2012 verses March 2011.

Year to date Closings are up 20%.

Total Inventories are down 12% from March 2011 to March 2012.

Closings for March 2012 vs March 2011:

Rutherford closings up 11% with average closed prices level.

Williamson closings down 1% with average closed prices up 7%.

Davidson closings up 23% with average closed prices up 7%.

Wilson closings up 22% with average closed prices up 3%.

Prices are starting to improve a little. As seller confidence improves where sellers feel they don’t have to take any

offer they get, we will see prices improving. I have heard several stories of the great properties receiving multiple

offers, so the more times that happens the more comfortable Realtors and appraisers will be with higher prices.

Closings from February 2012 to March 2012:

Rutherford closings up 30% with average closed prices up 1%.

Williamson closings up 28% with average closed prices up 9%.

Davidson closings up 27% with average closed prices up 18%.

Wilson closings up 51% with average closed prices up 8%.

The closing increases are partly due to Spring selling season, but it’s still above last year.

All the average closed prices improved from last month. Hopefully this is a trend we will see as activity increases.

Pendings for January 2012:

Rutherford pended 355 which is up 11% from last month.

Williamson pended 353 which is up 30%.

Davidson pended 673 which is up 34%.

Wilson pended 157 which is up 7%.

All Pending are up so April Closings should be up as well.

I couldn’t find anything negative with the March numbers. Everything appears to be very positive for all of Middle

Tennessee moving forward. I haven’t felt this good about the market in quite some time.

This is a great start to a great year!

I hope everyone has a blessed Easter weekend!!!

Thanks,

Steven

Steven Dotson

President

Red Realty

www.RedRealty.com

www.RedSavesGreen.com

Direct: 615.896.1400

Good News!

Steven Dotson — Thu, 08 Mar 2012 20:26:21 +0000

check out the two news articles- good to see they are printing the good news!

http://www.dnj.com/apps/pbcs.dll/article?AID=2012303070033

http://www.murfreesboropost.com/home-sales-show-continued-improvement-cms-30414

… Read the rest

The Red Report

Steven Dotson — Thu, 08 Mar 2012 20:24:01 +0000

The Red Report

February 2012 Home Sales Report:

CLOSINGS 2012

Month Rutherford Williamson Davidson Wilson

January 183 167 396 90

February 222 189 413 107

CLOSINGS 2011

Month Rutherford Williamson Davidson Wilson

January 169 140 302 92

February 152 150 329 85

March 259 245 427 133

April 251 209 467 112

May 278 305 518 138

June 263 316 596 134

July 290 337 521 158

August 289 274 572 158

September 261 244 527 131

October 259 232 468 144

November 238 201 425 129

December 231 264 508 143

TOTAL 2,940 2,917 5,660 1,575

February 2012 Home Sales show continued improvements:

30% higher than February 2011 and the Year to Date Closings are 25% higher:

Total Closings up 30% for February 2012 verses February 2011.

Year to date Closings are up 25%. It’s only February so we’ll continue to reevaluate each month.

Total Inventories are down 12% from February 2011 to February 2012.

Closed volumes up and inventories down tell me the market is improving.

Closings for February 2012 vs February 2011:

Rutherford closings up 46% with average closed prices up 2%.

Williamson closings up 26% with average closed prices down 7%.

Davidson closings up 26% with average closed prices down 13%.

Wilson closings down 26% with average closed prices down 4%.

As you can see the closing volume is way up, but prices are not rising yet. I think prices will

follow the volume but they haven’t yet. If you are a buyer, you better be buying because

the days of the super discounted deal will be over in the near future.

Closings from January 2011 to February 2012:

Rutherford closings up 21% with average closed prices up 3%.

Williamson closings up 13% with average closed prices down 16%. (they had several big jumps so just getting back closer to average)

Davidson closings up 4% with average closed prices down 8%.

Wilson closings down 19% with average closed prices down 3%.

Pendings for January 2012:

Rutherford pended 319 which is up 23% from last month.

Williamson pended 272 which is up 20%.

Davidson pended 501 which is up 1%.

Wilson pended 147 which is up 20%.

Overall, I think this is one of the best reports I’ve sent in a long time. The prices are the only negative area I

see and I think they will trend upwards as we continue to see the volume increasing.

The big news for February is the huge increase from February 2011. Pendings also continue to strengthen as we

move into the Spring selling season.

Rutherford’s prices seem to be the only one to have stabilized and heading in a positive direction, but look back

at the previous months where Rutherford was the only one going down while other County’s prices were going up.

The prices seem to bounce around, but hopefully all the counties will follow the trend up.

It’s exciting to see improvements. Some of the increases are seasonal, but as we compare February 2011 to
February 2012, we see that the same time periods show big improvements.

Enjoy the Spring weather and hopefully we’ll continue to have good news next month…

Thanks,

Steven

please note my new email address: SDotson@RedRealty.com

Steven Dotson

President

Red Realty

www.RedRealty.com

www.RedSavesGreen.com

Direct: 615.896.1400

12848 Old Hickory Blvd, Antioch, TN 37013 | $9,500,000 | MLS#: 1027870

Admin — Sat, 11 Feb 2012 19:23:27 +0000

This property is adjacent to I-24, The Crossings Industrial Park, the railroad and Cane Ridge High School. Seller will sell all or divide into smaller tracks. Sewer agreement is worked out and to property.

View … Read the rest

1927 Beasley Rd, Murfreesboro, TN 37129 | $9,225,000 | MLS#: 921461

Admin — Sat, 11 Feb 2012 19:15:39 +0000

COMMERCIAL Potential. Great Location with new I840 interchange. The property is one of the best large tracks available in Murfreesboro for commercial development.

View Listing… Read the rest

0 Manson Pike, Murfreesboro, TN 37129 | $5,995,000 | MLS#: 1144929

Admin — Sat, 11 Feb 2012 19:11:23 +0000

This is a 6 Lot Propsed Site Plan for 34.7 acres. It includes 5 outlots and one anchor site perfect for any type of commercial or multi-family use. Less than 1 mile from I-24 Medical Center Pkwy Exit, this site will soon front a major 5 lane road.

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32 Highway 41, LaVergne, TN 37086 | $4,000,000 | MLS#: 920426

Admin — Sat, 11 Feb 2012 19:08:47 +0000

This lot wraps around the new LaVergne Post Office. Great Commercial Lot on busy intersection.

View Listing… Read the rest