The Greater Nashville Realtors announced its slate of officers last month, and the community should be aware of who these leaders are as, historically, this group has had a profound impact on all things real estate in the city, with last year being no exception.

The Realtors work with local elected officials and those representing Nashville in state and federal government in shaping bills and regulations that will affect the citizenry.

While under the guidance of CEO Jarron Springer, the leadership team works closely with various real estate-related groups, as well as Nashville Area Habitat for Humanity and other affordable housing organizations, in working to ensure that housing is made available to all who are in need of shelter.

This year’s president of Greater Nashville Realtors is Steve Jolly, who has served on the executive committee for the past four years and is well-suited for the challenges he will face in the next year with COVID on the upswing, interest rates primed to climb and housing affordability slipping away from many Nashvillians.

He succeeds Brian Copeland, who had his share of challenges during his tenure and labored to ensure the organization is a place where all are welcome and have a seat at the Realtor table.

Local commercial real estate legend Floyd Shechter once said the most beautiful words in the English language are “immediate past president,” and he’s correct in most cases. However, in the world of the Greater Nashville Realtors, the past president continues to be called upon for advice and support during the year following the term of president.

Serving as president-elect is Brad Copeland, brother of Brian. However, when Brad’s term comes, do no expect déjà vu all over again. He has his own agenda, although it will be helpful to all to have his brother’s experience available if needed.

Rounding out the list of officers is secretary/ treasurer Kevin Wilson and vice president Anna Altic. Once again, the Realtors are in good hands.

Sale of the Week

As noted by John Grimes and Chris Grimes, the house located at 937 Silverdene has a history that stands as a shining example of what has happened in the Nashville real estate market since 2002, especially as it relates to East Nashville.

Sold in 2002 for $68,000, the new owner sold for $130,000 in 2016 to a buyer who immediately placed it on the market for $175,000 and flipped it for $160,000.

Buying a house for $130,000 and flipping it for $160,000 – a $30,000, probably a $20,000 net – is always a winning formula. The house was on the market for 44 days.

937 Silverdene Place

This group buying the house for $160,000 did a “gut-to-the-studs renovation,” says Tim Kyne, the listing agent in 2017, and sold it for $299,900 in 26 days after offering the property for $325,000.

Since the house is only 1,008 square feet, a to-the-studs renovation would not be overly expensive. So, the $169,900 difference allowed some profit for the renovator and seller.

In an example of the strength of the current market, the two Grimes listed the 1,008-square-foot home for $450,000 Dec. 4, traditionally a slow time for real estate, and put it under contract for $500,000 within hours.

Included in that four-year period was a tornado that ripped through East Nashville and a couple of years of COVID. At $496 per foot, the neighbors are elated. With $200,000 in their pockets, the sellers are able to move on comfortably.

To recap, the house sold for $68,000 in 2002 and $500,000 in 2021.

The property is a dandy with its 1016 renovation, and the description the Grimes brothers posted were enough to makes a buyer hungry.

They noted the house is “located between Butcher & Bee and Five Points,” even going so far as to clock the distances in walking and driving times.

Nestled within the cottage are two bedrooms and two full bathrooms. The living area extends onto a large deck off the rear of the home with a firepit in the expansive backyard.

The Grimes duo hail from RE/MAX Homes and Estates, while the buyer’s broker in this transaction was Katy Whatley of Village.

Richard Courtney is a license real estate broker with Fridrich and Clark Realty, LLC and can be reached at [email protected].