My article for the Tennessee Tribune June 19 -25, 2008

On any given Sunday in Nashville, hundreds of Nashvillians flock to open houses to see what their neighbors’ homes look like or to look at a home they have been interesting in buying but hesitant to contact a real estate agent about. An open house is when the general public is able to view a home that is for sale without an appointment. An open house is a great way to look for a home because it allows a buyer to view a property without making prior arrangements. It also allows a seller of a property to maximize their market exposure by allowing a wide variety of prospective buyers to visit the home with a real estate professional that knows the property and neighborhood very well. Typically during an open house, the seller’s agent will give a guided tour of the home and answer any questions about the home and the neighborhood. Below are six tips for buyers looking to find their next home during an open house.

1. Look for open houses in your area.

Open houses are usually advertised in the Sunday paper and on the internet. Crye-leike.com, realtor.com and realtracs.com are great resources to use to locate open houses in the Middle Tennessee area.

2. Have a game plan.

Make a list of the homes you would like to visit and know the route you will be using to maximize the time you will have during peak open house times. Open houses in Davidson and surrounding counties usually occur on Sunday’s between 2-5 p.m.

3. Don’t be embarrassed to ask questions.

The real estate agent working during the open house is there to answer any questions you may have about the property. Use them at your disposal; don’t be afraid to ask any question even if you think it’s a silly question.

4. Have a pre-approval letter with you.

I cannot stress the importance of being pre-approved for a home loan prior to searching for a home. Having a pre-approval letter will help you search for homes in your price range and you know what your monthly payment will be prior to writing an offer on a home.

5. Have your real estate agent on speed dial.

If you are working with a real estate agent let them know what homes you will be visiting and ask if they will be willing to meet you at that home to write an offer if you find one you love during an open house.

6. Done be afraid to make and offer.

If you fall in love with a home you visit during an open house, be prepared to write an offer on the home. A lot of effort is put into preparing a home for an open house. A seller will be more inclined to accept an offer less than the asking price if received the day of the open house.

Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle Tennessee area. She can be reached at 615-373-3456 or at www.denisejbeard.com. If you have a real estate question or a topic that you would liked covered, please e-mail Denise at denise@denisejbeard.com.

Tennessee Tribune June 11-18, 2008

This year commemorates the 40th Anniversary of the historic 1968 Fair Housing Act. On April 11, 1968 President Lyndon Johnson urged congress to approve the Fair Housing Act just one week following the assassination of Dr. Martin Luther King, Jr. as a tribute to Dr. King's legacy and commitment to civil rights. One of the Act's central objectives was to prevent discrimination based on race in the sales or rental of housing. This historic Act has since empowered people from all races and ethnicities to pursue the dream of equal access to housing.

In 2002 President George W. Bush enhanced our nation's commitment to equal housing opportunities for all by designating June as National Homeownership Month, with the goal of increasing minority homeownership in America by 5.5 million by 2012.

Today, Realtors work hard to provide fair access to affordable housing and homeownership year-round. By commemorating Fair Housing Month in April and National Homeownership Month in June, Realtors take extra time out to focus on the education of members, as well as consumers. By spending time on areas like homeownership counseling, new FHA and conforming loan limit programs, avoiding predatory lending pitfalls, workforce housing initiatives, diversity and smart growth initiatives, Realtors and consumers alike gain knowledge and become closer to achieving the ultimate goal of equal housing access for all.

My article for the Tennessee Tribune June 5 -11, 2008

As a real estate broker, I am often asked, “Where can I find a good deal?” Since it is a buyers market, “good deals” can be found all over Nashville. The key is to take advantage of the opportunity when it presents itself. Often buyers will pass on a very worthwhile purchase because they think something bigger and better will come along, only to be disappointed when they realize they missed out on a very good opportunity.

If you think you can purchase a home for pennies on the dollar in Nashville, you are sadly mistaken. Understanding the fundamentals that makes a good buying opportunity will help you when deciding to take advantage of it. Weather you are purchasing a foreclosed, HUD or existing home, if you are able to purchase it for 85-90% of its fair market value, the odds are in your favor that you are making a very good investment. Your agent should be able to provide you with the homes fair market value.

Since there is a shortage of qualified buyers in the market, sellers and their agents’ are coming up with creative ways to lure prospective buyers to their homes. Sellers are willing to pay all of the buyers closing cost and leave behind major appliances. Although it is very uncommon, I have seen some instances where a seller will include cars, gas cards, plasma televisions and vacations with the purchase of their home.

The Nashville market is strong when compared to other markets in Tennessee and the expectation of purchasing a home for less than 70% of its value does not happen here. The good news is that when purchasing a home, you and your agent will be in the pilot’s seat when negotiating the terms of your contract. Use this negotiating power to require the seller to leave home appliances and pay most of your closing cost. If the seller is not willing to comprise with the terms of the contract, a buyer has tons of options due to the large inventory of homes on the market.

Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle Tennessee area. She can be reached at 615-373-3456 or at www.denisejbeard.com. If you have a real estate question or a topic that you would liked covered, please e-mail Denise at denise@denisejbeard.com

Selling your home can be a challenging task

Selling your home can be a challenging task. With more homes on the market than ever before, prospective buyers have tons of homes to choose from. When you decided to place your home on the market, it is imperative that your home is in tip-top shape. By following these ten steps, you will have your home sold in no time.

1. Put yourself in the buyer’s shoes

Remind yourself of why your fell in love with the home when you first purchased it. When you have decided what those features are, decide how to best enhance them so that prospective buyers will fall in love with those features too.

2. De-Clutter

People tend to accumulate a massive amount of stuff some of which buyers will think is junk. It is important to de-clutter so prospective buyers can see your home as opposed to all of your “stuff”. This also means removing some pieces of furniture so that the room appears larger.

3. Clean up the outside

First impressions are very important; the first thing a buyer will see is the outside of your home. Make sure the home looks charming and inviting. If the home does not have what real estate professionals call good “curb appeal”, buyers may not even bother looking on the inside.

4. Touch up the interior

Fresh coats of paint and repairing minor infractions make a big difference. Anything that needs to be repaired gives potential buyers a reason to give a lower offer.

5. Neutralize and De-Personalize

Neutral paint and décor creates a home for any lifestyle. It helps buyers see themselves in that space. Some buyers can't see past personal artifacts, and you don't want them to be distracted. You want buyers to imagine their own photos on the walls, and they may not be able to do that if yours are there.

6. Cleanliness

Your home must be clean before selling – that includes walls, carpets, doors, counters and bathrooms. It gives the impression that it has been well cared for, which buyers love.

7. Air it out

If you have pets, get rid of as much hair and dander and pet odor as possible. If you are a smoker, rent an ozone machine, it helps get rid of the odor.

8. Establish a marketing plan

Choose a Realtor® that is familiar with your neighborhood and that has a proven marketing plan. With the hard work you have done to get your home ready for prospective buyers, you should have a good Realtor that will showcase the features and benefits of your home.

9. Set a realistic price right from the beginning

Since your home will generate the most attention and showings in the first few weeks it is on the market, it is of the utmost importance that your home is competitively priced in the market. If your price is too high relative to the competition, then buyers will not even look at an otherwise attractive property - particularly during the critical stage of initial market exposure.

10. Have an Exit Strategy

Know where you are going to move once your home is sold. If you have to sell your home before purchasing a new one, identify neighborhoods that you will want to live in once your home is sold.

Denise J. Beard is a Real Estate Broker with Crye-Leike, Realtors in Nashville, serving the Middle Tennessee area. She can be reached at 615-373-3456 or at www.denisejbeard.com.