McSquared in Music City June 2024

You sure look good to me ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

"Shorty, Swing my Way..."

🎶🎵🎶🎶🎶

Markets for May were relatively quiet. The number of new listings in Davidson county (Nashville) was essentially flat MoM, while Williamson county ( including Brentwood & Franklin) saw new inventory jump 13% from April. 

Unsurprisingly, we saw an increased number of closings (up 5-7%) in May after last month's steep increase in properties going under contract, but that trend did not continue through to May as it appears there's a little fatigue in the market. Nashville put 12% less properties under contract last month than the previous and Williamson County was down 30% MoM. 

Was it time for a little breather? Buyers and Sellers pre-occupied with end of school, Memorial Day travel, or just enjoying the lack of humidity and cooler Spring temps? How many of you went to 30A? Be honest! 

Anecdotally, there's still a fervor behind these figures - people are out and about looking, talking, and shopping real estate. Open house attendance is steady. Ready for a JUNE BOOM!

My take is we need to be taking swings. If there's a property you've been watching, let's talk it through and see if there's a win/win deal to be made. "You miss 100% of the shots you don't take," right? 

The trend in new construction being overpriced for less than optimal quality is prevalent. It feels like no one wants to be the 'first' to lower their asking price - though they're "willing to negotiate" - aka, take a lower price! Avoid the herd mentality..."Be Fearful When Others Are Greedy And Greedy When Others Are Fearful." - Warren Buffett

We had a slew of visitors come through last month and took our own swings, at Top Golf!😉 Good times with family and friends invigorates the soul.  ❤️

Safe travels on your early summer getaways; here for you. Wishing you well,

Shane

Nashville Sounds Games

First Horizon Park
Germantown

Musicians Corner @ Centennial Park

2024 Nashville PRIDE Festival

Bicentennial Capital Mall State Park

Alanis Morissette - The Triple Moon Tour

Third Eye Blind- Specail Guest Yellowcard - Summer Gods Tour 2024

FirstBank Amphitheater, Franklin

Once a Month | May-Aug

Cornelia Airpark Concerts

Cornelia Airpark - Shelby Bottoms Park, EAST Nashville

Notable in Nashville

514 Legends Ridge Court

6 BD   6.5 BA   9059 SF   $3,890,000

Cresting the hill, set within mature landscaping, this stunning French inspired, custom-built home is revealed, presenting a warm ambiance of privacy and exclusivity.  Positioned to maximize a rear facing, Northern exposure & the natural hillside, the home’s three floors offer six thoughtfully placed ensuite bedrooms, serviced by an elevator. The fully fenced rear garden is accessible via a remarkable, newly constructed two story covered veranda, complete with fireplace, Infratech heaters, ceiling fans, TV, outdoor kitchen and grill. Built for entertaining with two wet bars in addition to the world class wine cellar, a two story, coffered ceiling living room elevates an evening to grand scale, while a multitude of spaces including the double island, discerning chef’s kitchen are maintained for the intimate moments of everyday modern life. Sonos speaker system, Central Vacuum, 4 car, WiFi enabled garage, electric Hunter Douglas blinds, Jeld-Wen double pane windows with plantation shutters throughout and 3 fireplaces affirm the consistency commanded from the home’s stewards. 514 LRC presents an unparalleled opportunity of elegance and serenity to call home.

3 BD   3 BA   3178 SF   $1,490,000

This stunning colonial-style home is nestled in one of Nashville's most prestigious and convenient neighborhoods. Meticulous landscaping with irrigation surrounds the home, creating a serene environment. The peaceful backyard and screened-in back porch are perfect for relaxation and entertaining. Inside, enjoy an abundance of natural light, character, and a cozy ambiance throughout. The well-designed floor plan offers seamless transitions between rooms. The spacious detached 2-car garage provides ample storage and comfortable parking. Don't miss the opportunity to make this your new home!

1003 15th Avenue South

3 BD   3 BA   3100 SF   $1,499,000

Nestled amidst the vibrant energy of Music Row, this historic home stands as a testament to timeless elegance. The home offers many custom architectural details, its exterior boasts a fully fenced yard with a wrap around porch, offering both privacy and charm. Stepping inside, exposed brick walls and soaring 12-foot ceilings welcome you, each showing details of the past. On the main floor, a spacious primary suite awaits you, offering a retreat from the rhythm of the city. With its blend of historic allure and modern comfort, this home is a harmonious blend of Nashville's rich heritage and contemporary living. This home had a complete remodel in 2011 and primary bath remodel in 2019. Home is well equipped with E/V charger in the garage and extra large unfinished basement.

3715 West End Avenue

5 BD   6 BA   6898 SF   $3,500,000

Step into historic luxury in this captivating 1920's Georgian-style home defined by its craftsmanship, character, & convenience. Greet guests inside your gated drive and enter to discover original handcrafted chandeliers adorning soaring 11 foot ceilings. The kitchen is sun drenched and smartly designed with elevated cabinetry, a functional marble island, and hidden appliances for a sleek look perfect for elegant entertaining. Upstairs, all bedrooms are complemented with en suite baths, including a comfortable primary suite with luxurious spa bath and oversized shower. In the basement, more opportunities for gracious living exist with a wine cellar and large bonus room or 5th bedroom. The idyllic back yard is filled with gardens of mature landscaping, setting a brilliant canvas for the sparkling pool and carriage-style, kitchenette-equipped guest house. With an exceptional location, this is a home of distinction that will grow even more precious with time - reserve your showing today!

In case you missed it

* A symptom of the great wealth transfer? Since 2019, as the rich get richer, the number of family offices worldwide has more than tripled, to almost 4,600 in 2023. Most are concentrated in New York, London, Dubai, and Singapore. The nature of many family offices has started to change and some are now playing the role of “pseudo private equity houses”. (Bloomberg/FT)

* "The biggest myth in marketing is that choice is a good thing. Choice is a tax. Consumers don't want more choice: they want to be more confident in the choices presented." - Scott Galloway
Life is short. VERY short. Time is the last luxury. Spending too much time struggling with decision making around housing can prevent you from the enjoyment of all the thousands of other things life has to offer.

* Consumer confidence rose for the first time in four months. Americans are unexpectedly feeling better about the economy this month: Per the Conference Board’s monthly index, US consumer sentiment rose from 97.5 in April to 102 in May, smashing economists’ estimates. Meanwhile, the expectations index, which measures the short-term outlook for income and other labor market conditions, increased the most since July. However, the report showed that Americans remain worried about inflation and interest rates. Despite their mixed feelings about the economy, Americans continue to spend vigorously on travel. The TSA  set a record for most travelers screened in a single day over Memorial Day weekend. 

* New York indefinitely pushed back a controversial congestion pricing plan to charge drivers entering part of Manhattan. (WSJ)

* The number of luxury Houston area homes sold with generators increased 600% from 2018 to 2023, according to the Houston Association of Realtors. 

* In a blow to the United Auto Workers’ (UAW) organizing momentum in the South, workers at a Mercedes-Benz plant in Alabama voted  against unionizing. It was a close one: The final tally after 5,075 ballots were counted showed that only 597 votes kept the facility from becoming the first auto factory in the fiercely anti-union state to join the UAW.

* Assisted living costs have soared 53% in the past 10 years in the US - not just during the high inflation period of 2020-2023 - with costs rising 30% between 2012 and 2020, pre-COVID. Inflation is nothing new - especially in healthcare - but has been much higher in the past 3-4 years. Labor costs are driving this, but rising insurance costs may be more to blame in some areas. (BLOOMBERG)

* Nearly 57% of America’s available housing inventory is located in the southern parts of the US, also the highest concentration of more affordable options. Expect people - and corporations intent on fueling profit via lower costs to do business and house employees - to focus on these areas.

* The Biden administration said it had canceled an additional $7.7 billion in student loans for 160,000 Americans as it works to chip away at the problem after the Supreme Court tossed its larger student debt forgiveness program.

* U.S. officials forecast a record breaking Atlantic hurricane season. (WSJ)

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.