It was not very considerate of the planet to drop an arctic cyclone bomb upon itself on the Friday before Christmas. With most businesses closed for the holidays, water flowed from pipes that gave way to the frozen masses within.

Gushing through drywall and into the living spaces of the creatures below, there were Christmas presents wrappings soaked to the bows. And while the HVAC systems fought the good fight, the temperatures in the house dropped all through the night. Only about 45 degrees in two hours, that’s all.

Neither plumber nor HVAC company would answer all calls, and the damage will be discovered for weeks to come in the area. The city was prepared, at least, as the salt trucks and snowplows had the streets cleared by the morning following the blast.

Many of the newer residents to the city were able to observe firsthand the inability of many longtime residents to negotiate driving in the new fallen ice and snow, as they slipped and slid through stop signs and redlights.

All the while, homebuyers were buying, and transactions were closings. Vacant houses were receiving more attention than they have since the residents left the dwellings as owners and Realtors battled the elements to keep the houses in condition to close. There were some close calls.

While many heating and air companies were unable to keep pace with the demand, Piedmont Gas and NES performed well, even with NES dealing with issues from TVA. The rolling blackouts created challenges for retail outlets that relied on electricity to process sales transactions.

It also hampered repair people who were able to make it to the troubled houses but found it difficult to remedy electrical and HVAC problems when there was no electricity. They had the option to sit for 20-30 minutes for each blackout to clear or move on to another residence in hopes the blackout had not descended upon those locations. Either way they look at it they lose.

It is a fitting way to close 2022, a year filled with falling sales, rising prices and uncertainly in the mortgage lending world. Since most real estate data is compared on a year-to-year basis, the first quarter or two will appear dismal. In the third and fourth quarters, the numbers will look good compared to the second half of 2022.

Many builders complain the inventory problem could be eased with some adjustments at the departments of public works, stormwater and water and sewer. Many say it takes weeks, even months, to gain the approvals necessary to complete construction, slowing the flow of residential product to the market.

If these processes are remedied, there will be more inventory, more sales and the world of 2023 will be filled with joy and happiness.

Sale of the Week

Yet another $3 million-plus sale occurred last week when 4005 Copeland Drive sold for $3.3 million or $609 per square foot. The house sold a few days before completion and had been listed for 18 days.

There were several buyers vying for the house that went under contract Dec. 5.

Many sellers choose to have their houses taken off the market Thanksgiving through December with their logic being that there is little activity during the holiday season. In this market on the precipice of a recession, there is no down time for upper end homes.

Thirteen houses sold for $1 million or more Dec. 19-26, with one of those days being Christmas and another being a Saturday, and all of them during a deep freeze.

The Copeland house was another work of Baird Graham’s art, and listing agent Laura Cole described the home as being on “one of Nashville’s most idyllic, sought-after streets.”

She noted the primary suite with double closets is on the main level, and there are four ensuites in the house.

Jennifer Stadler beat the rest of the Realtors to finish line and secured the property for her clients, who were granted this early Christmas present. The losing agents have bah-humbugged their way to the end of the line as higher-end inventory continues to be devoured much as it was in Christmas past.

From the looks of things, the ghost of real estate yet to come will mirror the past and present. Buyers should place another lump of coal on the fire and await the perfect home – or a near-perfect home – or maybe a home that meets most of their requirements.

Perhaps a home that is almost tolerable.

Richard Courtney is a licensed real estate broker with Fridrich and Clark Realty, LLC, and can be reached at richardcourtney.com.