McSquared in Music City September 2023

SYSTEM CHECK

Are you ready to kick into gear?

Unpopular opinion - I am ready for summer to end! 

Matt and I kicked off August with a visit to Northern California. It was a restorative visit, filled with long walks in Carmel-by-the-Sea, urban hikes in San Francisco and lots of quality family time in the 209 (Stockton to those of you not familiar)! We ate, A LOT of really delicious food. (reach out for recommendations) We came home energized to finish the year strong; like we switched gears or something. I guess that's why I'm ready for the seasons to change too! 

Last month we spoke of the markets being "spring loaded" - buyers being coiled, ready for action at the slightest break in price, favorable interest rate movement or some other catalyst that has yet to be identified. We are still operating in that environment. What feels like a plethora of potential energy remained on the sidelines in August with home sales staying pretty flat month over month. Not surprisingly, properties put under contract in August declined 8% & 12% MoM for Davidson and Williamson counties, respectively. In my opinion, this market pull back or "break" is a healthy process. When a catalyst emerges, "rested" market/participants will come back invigorated. Are you ready? Don't get me wrong, in these quieter times I see some great opportunity for buyers who understand they are playing the game with less competition. Sellers too, who are providing quality inventory are often being rewarded.

Agents I speak to ALL OVER THE COUNTRY reiterate what we're seeing in Nashville is happening in their territories as well -  homes that are in desirable areas, that are turnkey, and priced well are being sold in MULTIPLE OFFER situations. 

So my message remains the same. Stay calm. Be ready to pounce on both sides of the equation.  Let's examine the hyper-local market you're in or trying to penetrate, stay acutely aware to it's condition, and plan our course of action.  If you're curious about why a property isn't selling, yours or otherwise, let's do some analysis and talk it through. 

Communication is key. Let's keep talking.

Local Events

september 9th, 4-10pm

NASHVILLE COCKTAIL FESTIVAL

East Park
All attendees must be 21. Ticket holders will have access to food truck vendors.

september 13th, 7:30pm

WAYNE NEWTON

Up Close & Personal
Ryman Auditorium

september 14th, 7pm

DISNEY ON ICE

Find your Hero
Bridgestone Arena

september 22nd, 6:30pm

P!NK

Summer Carnival 2023
Geodis Park

september 23rd & 24th

PILGRIMAGE MUSIC & CULTURAL FESTIVAL

The Park at Harlinsdale
Franklin, TN

september 25th 7:30PM

CHICAGO

First Bank Amphitheater
Franklin, TN

september 29th 7:30PM

THOMAS RHETT

Home Team Tour 23
Bridgesone Arena

Notable in Nashville

Lockeland Springs

1919 Holly Street

4 BD   4 BA   3894 SF   $2,510,000

Introducing the epitome of modern luxury living in historic Lockland Springs! This exquisite new construction home boasts 4 beds, 3 1/2 baths, and spans a generous 3,894sf. Indulge your culinary passions in the chef's kitchen, complete with a vegetable washing sink, 6 burner gas cooktop and stunning quartzite countertops. Hickory hardwood flooring graces every inch, while custom millwork and designer lighting exude elegance. Entertain in style with a wet bar and media room in the basement. Unwind in the screened porch accessible from the primary bedroom, overlooking the picturesque Shelby Golf Course's rolling hills. The primary bathroom pampers with a 10ft shower and a digital, programmable thermostat. Additionally, a detached 1bed/1bath 1000sf apartment qualifies for short-term rentals!

Neighbors of Granny White

1804 Writers Circle

5 BD   6 BA   6475 SF   $3,999,900

A masterpiece of timeless design, modern sophistication, and attention to detail in the exclusive, sought-after Vocé neighborhood adjoining Richland CC and Radnor Lake. This home was custom built in 2018, with interiors by a designer featured in Architectural Digest, Elle Decor, etc. Bask in the airy, light-filled interiors where you are embraced by classic, timeless materials such as masonry & Tennessee Fieldstone walls, a cedar shake roof, and surfaces of European marble, limestone, and white oak. Enjoy remarkable views of the surrounding nature and hillside sunsets. Wine cellar, home gym, outdoor living, firepit, fountain, and landscape by Daigh Rick architects. Multiple pool design concepts are available, and some furnishings are available for purchase as well.

Green Hills-Midtown

4603 Franklin Pike

6 BD   12 BA   14804 SF   $9,250,000

This resort style compound is just minutes from downtown Nashville. 14,804 sf of living space in 3 building structures on 5 acres. Completely fenced, a full surveillance system and 3 gated entrances offer privacy and security. The main home is mostly one level living with a large open floor plan, 4 large bedrooms with en suites, home theatre, chef's kitchen, home gym and a heated garage that can fit 6 cars. The guest home doubles as the pool house and features open living spaces, 2 bedrooms with en-suites, kitchen, sauna, basement and generator. The renovated barn has it's own gated entrance filled w/ designer finishes and rustic charm. Zero entry lagoon style gunite pool, hot tub, lounge area and a full sport court are surrounded by mature trees and green space. True compound living.

Green Hills

4020 Skyline Drive

6 BD   8 BA   6803 SF   $3,750,000

Stunning new construction from Vintage South in desirable Julia Green! Walkable to Julia Green Elementary and located on one of the best quiet, private streets in Green Hills. This home has an open floor plan with an immaculate primary suite and in-law suite both on the first floor and accessible from the friend's entrance. Includes a dedicated office on the first floor and four bedrooms, rec room, and media room upstairs. Open House Sunday 8//6 from 2-4.

In case you missed it

* More than 10,000 people in the U.S. turn 65 every day,..... and that number will peak at about 12,000 in the summer of 2024. 39% of home buyers are baby boomers - half of them all cash buyers - while only 28% were millennials. (MarketWatch)

* China’s exports plunged 14.5% in July, including a 23% drop in shipments to the United States. (WSJ)

* Oil prices are SURGING.... Olive oil prices! Especially in Spain that produces around 50% of the world's output where drought and weather have decimated crops

* The U.S. Treasury Department will soon propose a rule that would  require real estate professionals such as title insurers to report the identities of the beneficial owners of companies buying real estate in cash to the Treasury's Financial Crimes Enforcement Network. This is aimed at ending anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists and other criminals to hide ill-gotten gains. (Yahoo)

* Why has Nashville real estate performed so well?  According to the Nashville Area Chamber of Commerce, the city has maintained an average annual job growth rate of 2.5% over the past decade, attracting businesses from diverse industries.

* Sales of newly-built homes in the U.S. rose in July at the fastest pace since February 2022. (MarketWatch)

* Some of the richest people in the world are banking on a new California utopia. The New York Times reports that several of the techiest bros have banded together to buy up $800 million worth of land in Solano County, California—just a few hours outside of the San Francisco Bay Area—with the intent to build a new city.
https://californiaforever.com/

* Starting next year, 529 investors will have more flexibility in rolling leftover money into Roth IRAs

* In all, the top 1 percent of US taxpayers accounted for more FEDERAL income taxes paid than the bottom 90% combined. In 2020, the top 1 percent of taxpayers paid $723 billion in income taxes while the bottom 90% paid $450 billion. (Tax Foundation) Is your estate set up to limit tax liability to your heirs? We have introductions to make if not.

If you're in the market or know someone who would benefit from an informal conversation with me, please click here and we'll schedule some time together. 

REMEMBER, 
I have established relationships nationwide, likely in in your local markets, with agent colleagues of mine.  Utilize the trust I've established with these high performing men & women to foster smooth dealings on your next transaction. 

See the map below for our broad reaching locations. Thank you!

Shane McCarty

Affiliate Broker
M: 209.601.1957
O: 615.475.5616
shane.mccarty@compass.com

Office: 615-475-5616

Compass RE is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.