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You are here: Home / Franklin Homes / Franklin Home Buyers Don’t Understand A Sellers Market

Franklin Home Buyers Don’t Understand A Sellers Market

June 2, 2013 by Larry Brewer 1 Comment

Cool Springs home in Franklin TnFranklin Home Buyers Don’t Understand A Sellers Market – At least not at first. Here is one of the e-mails I received yesterday from someone I barely know on a Benchmark listing in Franklin “We would be interested in this except it is way way way overpriced. Are the owners underwater or is there some wiggle room?” .

My response after checking the tax record and looking at recent sales and current homes available in the neighborhood

“They are not upside down on this home, but since it’s the least expensive home in the neighborhood,  and it’s only been on the market a week, they probably are not in a panic to sell it. What would you like to offer?
In the neighborhood in question, homes are selling at an average of 99% list price to sales price and they average 57 days on market. So if you count an average of 30 days from contract to close, the homes in this Franklin neighborhood are only available around 27 days before being under contract.
Buyers of Franklin Tn homes need to understand that the tables have turned, and now they are having to compete with other buyers, because the inventory of available homes is very low, and the sellers of many homes typically have multiple offers within the first week. Lowball offers are usually not even worth the time to get a response on good homes.
Of course if you are willing to buy a less than average home, then it’s a different story.
search for Franklin Tn homes here
Franklin Tn Homes

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  • 100 CHURCH STREET, Franklin, TN
    100 CHURCH STREET
    Franklin, TN
    Photo of 100 CHURCH STREET, Franklin, TN 37064 (MLS # 2221145) Broker reciprocity icon
    $1,985,000
    • Lot Size

    • Home Size
      4,909 sqft

    • Beds
      5 Beds

    • Baths
      6 Baths

  • 913 Horizon Drive, Franklin, TN
    913 Horizon Drive
    Franklin, TN
    Photo of 913 Horizon Drive, Franklin, TN 37064 (MLS # 2221111) Broker reciprocity icon
    $776,830
    • Lot Size

    • Home Size
      2,653 sqft

    • Beds
      3 Beds

    • Baths
      4 Baths

  • 505 Franklin Rd, Franklin, TN
    505 Franklin Rd
    Franklin, TN
    Photo of 505 Franklin Rd, Franklin, TN 37069 (MLS # 2221056) Broker reciprocity icon
    $1,399,900
    • Lot Size
      1.95 ac

    • Home Size
      4,851 sqft

    • Beds
      5 Beds

    • Baths
      5 Baths

  • 4029 Hathaway Street, Franklin, TN
    4029 Hathaway Street
    Franklin, TN
    Photo of 4029 Hathaway Street, Franklin, TN 37064 (MLS # 2220940) Broker reciprocity icon
    $1,589,700
    • Lot Size
      10,019 sqft

    • Home Size
      5,121 sqft

    • Beds
      5 Beds

    • Baths
      7 Baths

  • 122 Riverwood Dr, Franklin, TN
    122 Riverwood Dr
    Franklin, TN
    Photo of 122 Riverwood Dr, Franklin, TN 37069 (MLS # 2220734) Broker reciprocity icon
    $649,000
    • Lot Size
      11,326 sqft

    • Home Size
      3,008 sqft

    • Beds
      4 Beds

    • Baths
      3 Baths

See all Real estate matching your search.
(all data current as of 1/18/2021)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Filed Under: Franklin Homes Tagged With: franklin homes, Franklin real estate

Comments

  1. Michelle Gibson says

    June 2, 2013 at 8:11 pm

    Larry – Excellent answer! Unfortunately some buyers need to lose a home or two before they fully understand the current market conditions.

    Reply

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Benchmark Realty

Larry Brewer

Larry Brewer Benchmark Realty
Tn License 00285925
318 Seaboard Lane
Franklin, TN 37067
Cell: 615-512-7853
Fax: 615-371-6310
office 615-371-1544

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