Homes continue to sell during the COVID-19 pandemic, with 302 moving into the “under contract” category, Realtracs reports. That’s an increase of almost 20% compared to the 253 that went under contract the week before.
Two weeks ago, 320 properties went into the pending status, which is the highest number since the Safer at Home order was issued by Mayor John Cooper. Of interest is that one of the homes under contract this week, 601 Belle Meade Boulevard, went pending for $8.5 million, although most of the negotiating for that sale was done before the Metro-mandated virus precautions.
With the Gov. Bill Lee’s order lifted, perhaps people will feel even more confident to explore homebuying since real estate is considered an essential business by both the mayor and the governor, hence the activity.
Even though conditions are certainly different from anything the city, nation or the world has experienced, it is surprising to some buyers that the real estate business is operating as it has for the past seven years with properties continuing to receive multiple offers and go under contract within hours of appearing on the market.
“Even when buyers give the sellers everything they want, it can still be a good deal for the buyers,” one real estate veteran opined last week after the buyer expressed frustration in conceding to the seller on every point of the contract.
Vernice Bryan’s place in history
Bryan
Veteran real estate icon Vernice Bryan died Saturday after suffering a massive heart attack at a local hospital. Following a 13-year stint as a teacher at Cumberland High School, she switched to real estate in 1973. Nashville real estate has never been the same.
She affiliated with the market leader Dobson and Johnson, which in those days was the big kid on the real estate block. “We’ve sold more homes in Nashville than anyone else” was its claim on TV ads, billboards and print publications across the Midstate.
It was probably true, and their offices were spread across the city. Bryan became a star in Dobson and Johnson office over the next few years, and her signs were spread across the Nashville landscape.
By 1986, she was a life member of what was then called the “Million Dollar Sales Club.” It’s now the Award of Excellence, an honor she earned an astonishing 30 times. What is more significant is her contribution to the development of Fridrich and Clark Realty.
Opening in 1966, Fridrich and Clark had been a small, successful firm for 20 years with 12-15 agents on board. The late Jerry Fridrich, the firm’s founder, and his son Steve decided to grow the firm by partnering with Whit Clark, a successful Realtor who had won several awards from the Nashville Board of Realtor and had been recognized as Young Realtor of the Year.
One of the early significant recruits was Bryan, who was considered a major addition to the firm and opened the gates for other top producers – Suzanne Lewter, Martha Ballard, Janice Lovvorn, Tim Villager, Lois Holt, Betty Finucane and others – from other larger firms to join the burgeoning company.
Eventually Vernice, encouraged her son, Richard Bryan, to enter the business, and the rest is history. Beginning as a team with Venice serving as mother/mentor, and Richard as the eager pupil, the Bryans began to dominate the market, often selling properties in Davidson, Robertson, Sumner, Williamson, Cheatham, Rutherford, Maury, Dickson and Vernice’s native Warren County in any given year.
In later years, when Vernice slowed somewhat, Richard took the reins and became the top selling and listing agent in the Greater Nashville Association of Realtors. Keeping their affairs in family, Richard and Vernice were joined by his sister Kathleen, who also serves on the Bryan brigade.
Sale of the Week
209 Lauderdale Road
Yet another successful real estate legacy team listed and sold the property at 209 Lauderdale Road in Cherokee Park last week. The brother and sister act consisting of David Pruett and Ginger Holmes of Berkshire Hathaway Home Services Woodmont Realty listed the home for $849,000 March 21 and sold it in seven days in mid-pandemic.
Ray Pruett, father of David and Ginger, was one of the founding members of Woodmont Realty, a firm that later affiliated with Warren Buffett’s Berkshire Hathaway group. Ray has enjoyed an illustrious career as did his sister Patti Bateman, who also practiced at Woodmont.
Scott Troxel of Keller Williams Realty represented the buyer of the 3,132-square-foot home that features four bedrooms, a nursery and three full bathrooms. The listing agents noted the new owners could “send the kids to the custom weather-tight playhouse with electricity.”
The property sold for $830,000, or $265 per square foot, not including the footage in the playhouse.
Richard Courtney is a licensed real estate broker with Fridrich and Clark Realty and can be reached at [email protected].