Realtors are forced to use creative, descriptive language when describing their listings, especially when the market shifts and listings are not selling.

Thirty years ago, “For Sale” signs usually donned a metallic sleeve that was draped over the top of the sign with the word “Reduced.” That became known as a topper in those days.

Now these toppers may sport the words “Price Improved.” Sellers think a sign donning the word “Reduced” suggests urgency, duress or even – worse – weakness. They do not want to be perceived as desperate, even though they are at worst eager.

Sometimes Realtors write “Seller wants offer” in their ads. No kidding. That’s why they listed the home. They wanted to sell it, and the first step is to get an offer.

Another variation of the same theme is “Bring me an offer.” By the way, when such language appears, the sellers usually will not budge from the list price. They want an offer for list price.

Another favorite: “There are no words to describe this property” or “This home is beyond words.” There are, of course, words to describe the property, the agent is just not familiar with them or doesn’t own a Thesaurus.

The same goes for the phrase used to describe wonderfully remarkable things be they concerts, sports teams, plays or houses. Experiences that are so remarkable they are other worldly, initiating out-ot-body experiences, nirvana, ecstasy and wonder. Homes that emote these felling are simply described as “will not disappoint.”

Disappointment is defined as sadness or displeasure. So the homes are slightly better than sad. They will not make the owner live in dismay.

“Will not disappoint” actually is the equivalent of “doesn’t suck.”

Sale of the Week

Comedian Steve Martin has a joke on how to become a millionaire and not pay taxes. He says you start with a million dollars. You can find the punchline online. It is not his best.

205 Leonard Ave

However, his suggestion proved correct with a minor revision on the sale of 205 Leonard Avenue last week when the house sold for $3.145 million.

The owners had paid $1.6 million in 2018, so they nearly doubled their money on the resale. Of course, there were expenses incurred in selling the house such as commissions and attorney’s fees. There also were likely repairs, which can get expensive, as well as any improvements they made to the house.

As for the punchline, there are taxes to be paid and, depending on individual tax situations, it can be complicated; however, in most cases, if a house is sold within two years of acquiring the property, the taxes are 40%. If the owner/buyer holds the house for more than two years, the tax on the gain is 20%. It should come as no surprise that there are numerous sales in the recent past in which sales occurred some 730 to 745 days after the hose was purchased.

In some cases, sellers have given possession rent-free if the buyer will wait until the 370 days have passed to close the sale. In the conveyance of 205 Leonard Avenue, that was not necessary.

Once again, this transaction speaks, or screams, to the strength of the upper-end market in Nashville, where exactly 100 homes have sold for between $3 million and $4 million this year. There were 87 such sales last year.

Another 34 homes sold between $4 million and $5 million. It does not end there. Sixteen properties have sold between $5 million and $6 million, two between $7 million and $8 million and five between $8 million and $9 million.

In the lower end, there have been 2,732 sales between $300,000 in the past 12 months. There were 3,614 for the same period last year.

Interest rates are impacting those who need loans more than the cash buyers purchasing larger homes, those buyers perhaps benefiting from a strong stock market as the Dow Jones, S & P, and Nasdaq are all up considerably over this time last year. In Nashville, at least, placing a million or two or three in residential real estate has proven to be a solid investment.

The house at 205 Leonard Avenue checks all of the boxes for those buying luxury homes, as the properties are so dubbed. It is as immaculate as it was the day the owners bought it five years ago and move-in ready with more than 6,700 square feet, five bedrooms, five full bathrooms and an unexpected three half bathrooms.

It is a Lutron tech savvy home, say listing agents Amy Wyatt and Lana Pargh, both of Compass, who also noted the new homeowners could be a part of Whitland Avenue’s holiday celebrations. Wyatt had been the seller’s real estate broker when they purchased the home, and the owners dutifully remembered her when they decided to sell.

Originally listed for $3.29 million, Keri Kidd Cannon was able to have the sellers adjust, improve, tweak, modify and reduce the price to $3,145,000, or $490 per square for those who care about such things.

Cannon represented the sellers, who stand to profit from simply seeking shelter in the home.

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