Bizarre Real Estate Listing Photos #14

While looking through the Nashville, TN real estate listings on the MLS, I come across some rather peculiar photos. They reveal some unusual lifestyles and inexplicable design choices that are normally hidden from view. Thankfully, the well-compensated, professional real estate agents think that somehow these photos will help their listings sell, so they make them available for the world to see. Therefore, we have the pleasure of enjoying our weekly installment of Nashville’s most Bizarre Real Estate Listing Photos:

laundry

Sometimes our washer and dryer get a bit tired and need to take a nap. 

bathchair

For those who truly love multitasking we present: *The Bathchair* – wash your feet and check your email at the same time!

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The Ideal of Leveraging Vs. The Ideal of No Debt (Part 2)

While writing Part 1 of this discussion, I quickly realized how lengthy it could become. The problem is that there are so many details and variables to consider in this debate. From monthly cashflow, to opportunity cost, to tax implications, the analysis gets complicated. I read through a very thorough article about a similar debate to “Pay Off Mortgage Early Or Invest” on the Financial Mentor site. Many of the points raised in that article are relevant to ubanthis discussion, although that debate is about paying off the primary residence mortgage early or investing that extra money into a low-cost index portfolio. The debate I am having here is whether it is better to leverage investment properties and borrow as much as possible, or have no debt. Of course there is a very large range of options in between the two extremes, but if one extreme is indeed better, then wouldn’t it make sense to maximize it to the fullest?

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The Ideal of Leveraging Vs. The Ideal of No Debt (Part 1)

There is no shortage of real estate investing advice that discusses the power of leverage in purchasing properties. Experts talk about how to buy houses with “low down payments,” or even “no money down.” It seems these strategies are sometimes touted because there is a larger market of people who will buy a book about how to get started investing with little money. After all, there are more Americans who barely have any money saved than the number of Americans who would buy a book about how to buy houses with, “cash savings over $200,000.” However, if an investor can borrow money at 4% and get a return of 14%, why wouldn’t that investor capitalize on using other people’s money and maximize profits?

ubanMeanwhile, there is another group of financial experts (Dave Ramsey being one of the leaders) who advise against having any debt at all, including real estate. The thinking from this group is, “Why lose 4-5% by paying interest to a lender when saving the cost to borrow can directly increase profits?” I find myself thoroughly understanding both sides of the argument, but unable to decide which approach is better.

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Bizarre Real Estate Listing Photos #13

While looking through the Nashville, TN real estate listings on the MLS, I come across some rather peculiar photos. They reveal some unusual lifestyles and inexplicable design choices that are normally hidden from view. Thankfully, the well-compensated, professional real estate agents think that somehow these photos will help their listings sell, so they make them available for the world to see. Therefore, we have the pleasure of enjoying our weekly installment of Nashville’s most Bizarre Real Estate Listing Photos:

stuff

Our realtor recommended that we repaint the living room walls. We opted for a different strategy: covering the walls with as much stuff as possible. It worked!

sheds

Then papa shed said to his son,”Time is flying by. You’ve shot up to 640 cubic feet, and I have a receding roofline. But I can’t complain, life is good.”

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House of the Week – Franklin Pike

A grand, historic home located at 4220 Franklin Pike, Nashville, TN 37204 is the House of the Week. “From Indian lore to civil war battles, this incredible one of a kind property is a dream home for history buffs,” according to listing agent Melanie Baker with Zeitlin & Co., Realtors. The house has four bedrooms, two bathrooms, and 3,148 square feet of living space priced at $995,000. It is, “nestled on 2.3 acres of mature trees and gardens.”

franklin

franklin2 franklin3

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How to Read and Understand a HUD Settlement Statement

Every real estate closing done at a law-abiding title company will include the settlement statement. This two page document is required by the Real Estate Settlement Procedures Act (RESPA), a program administered by the U.S. Department of Housing & Urban Development. It is a standard form that itemizes all charges for the parties involved.

hudI’ve had two closings in the past two business days, one as a seller and one as a buyer. As a seasoned investor, I am now quite familiar with the columns and numbers on the settlement statement, and it is easy for me to understand. But it hasn’t always been that way. I remember trying to follow along as the closing attorney would quickly flip between the two pages cross referencing different charges, pointing at real estate commissions, government recording fees, and the prorated county taxes. It is a lot of information to take in for the average buyer or seller. And when thousands of dollars are involved, it is important to know how to read and understand the settlement statement. (Warning: This is by far the nerdiest and potentially most boring thing I have ever written about. Proceed with caution.)

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Identifying Undervalued Neighborhoods

I remember having a conversation about nine years ago with a very wealthy individual about what neighborhoods would have the best future appreciation in the local real estate market. She replied, “That’s easy, the same neighborhoods that have always had the best appreciation.” I nodded my head in agreement. It seemed like the perfect answer. But there was something in me that didn’t totally buy in. If neighborhoods appreciate at the same rate they always do, then how are gentrifying neighborhoods with rapid increases of home values explained? What causes the exceptional upward momentum of rising prices?

By the time I had that conversation, I had witnessed several neighborhoods in Nashville, TN experience rising property values that did not line up with their historic appreciation rates. They were beating their previous track record. Those neighborhoods had been undervalued, but began over-performing to compensate. Renovations were being completed by homeowners and investors alike. ubanAs more dollars poured into the improving neighborhoods, others took note and wanted to buy in as well. Activity furthered more activity, and successful flips led to more investment projects. I watched with a desire to understand what market forces were at work. And I began to anticipate what neighborhoods might be next. I knew that being able to identify undervalued parts of town would be key to future investment success.

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Bizarre Real Estate Listing Photos #12

While looking through the Nashville, TN real estate listings on the MLS, I come across some rather peculiar photos. They reveal some unusual lifestyles and inexplicable design choices that are normally hidden from view. Thankfully, the well-compensated, professional real estate agents think that somehow these photos will help their listings sell, so they make them available for the world to see. Therefore, we have the pleasure of enjoying our weekly installment of Nashville’s most Bizarre Real Estate Listing Photos:

inlaw

Great in-law suite in the back yard!

table

There’s something a little funny looking about a one-legged table. Do you call it a unitable?

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Thinking Tiny? Nashville’s Three Smallest Houses For Sale

The tiny house movement is growing in popularity. In fact, the fine folks of Portlandia took time to create a rather humorous 90 second skit about micro-living at it’s finest. While many tiny house aficionados consider 500 square feet to be the maximum to qualify as being truly tiny, the listings featured here are between 600 and 700 hundred square feet. Even if they seem too large for hardcore micro-dwellers, these listings are still substantially smaller than the average new construction homes in America, which are nearly 2,600 square feet each. Arranged from largest to smallest, here are The Three Smallest Houses For Sale in Nashville, TN.

3. 308 Oriel Avenue. $124,900

orielThis two bedroom cottage is located in the Woodbine neighborhood and has 690 square feet of living space. The listing agent, Rick Schell with Crye-Leike, encourages buyers to, “Get in on this rapidly appreciating neighborhood.” He also mentions, “The large privacy fenced back yard and covered deck.” Smaller houses tend to be priced higher per square foot than other homes in the neighborhood, and this one is no exception, listed at $181 per foot.

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Mid-Century Gem For Sale Near Mammoth Cave

A modern house built in 1955 in Glasgow, Kentucky was recently listed for sale by owner on Craigslist. It is a solid example of classic mid-century design, by an architect named Jack West who is known for his work in Sarasota, Florida. The home has 1,850 square feet, two bedrooms and two bathrooms. The asking price is $225,000.

clmodern

 

clmodern2According to the owners, this is the first time the house has been for sale since it was built in 1955. They call it an, “All original home with updates in the kitchen and baths,” situated on a, “Large wooded lot on quiet street in a beautiful neighborhood.” The house features an open floor plan with glass

clmodern3walls on two sides and slate floors. The property also has over-sized two car detached garage.

The architect, Jack West, has an impressive body of design work, including several schools in Sarasota and the Sarasota City Hall. He worked with renowned architect Paul Rudolph, as part of the Sarasota School of Architecture.

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