Get Real!

Back in my teenage years, we coined (and used) the phrase, "Get Real!" It was oftentimes used sarcastically in response to someone who made an erroneous or ridiculous remark.



With the offers that buyers are making these days, it's time to pull out that old phrase and start using it all over again. To help buyers avoid the "Get Real" glance or remark from their agent, here are some tips for making an offer:

1 - When making an offer, look at the UPGRADES that the home offers. If two houses are about the same square footage in the same general area, but the list prices are $5,000-$10,000 apart, ask yourself what upgrades the more expensive home has. What would it cost for you, as the buyer, to install all of the upgrades in the lower priced home? If it costs more than the difference in price to install all of the upgrades, then the higher priced home may be the better bargain.

2 - It is natural for buyers to NOT want to pay full price for any home in today's market, but when making an offer, be realistic in price. Ask your agent to show you comparables in the same general area with similar square footage and upgrades as the home you're interested in. Base your offer on those comparables.

3 - When making an offer on a foreclosure, understand that the bank has ALREADY DISCOUNTED the price of that home. For a bank to foreclose on a home, it costs them about $40,000 - $50,000, so they want to sell it as quickly as possible to get it off of their books. An offer just below that list price is best, especially if making the offer in the first 30 days after it's listed. Banks will typically lower the list price of homes every 30-40 days, so if you want that house, you'll need to act on it quickly. If you decide to wait until the bank drops the list price, you may have missed out on the house.

4 - Short sales are more common today than ever. If you're interested in a short sale home, you need to understand that type of loan that the seller has on the home will dictate what the seller's lender will approve for a purchase price. Each type of loan requires a sale price at a certain percentage of the current market price of that home. Also, unless already approved, expect to wait a while for a response from the seller's bank. If two loans are involved, then it may take even longer than anticipated.

5 - In ALL situations, real estate deals have to be WIN-WIN! Buyers are being told that THEY determine the value of a home, but that is true ONLY if the SELLER AGREES to the buyer's price, terms and conditions. To assume that a seller is obligated to take a low-ball offer that a buyer makes is unrealistic. Continuing to make low-ball offers on properties brings nothing more than frustration and wasted time for everyone involved in the negotiation process.
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If you're looking for an agent who can help navigate you through the home-buying process, give Jack Jernigan a call. He understand the market, dealing with foreclosures and short sales, as well as sellers in general. He can be reached at 615-373-3513 or through email: jack@jackjernigan.com

Only the Second Fattest?!

Boy, are we Tennesseans in trouble. According to the Trust for America's Health and the Robert Wood Johnson Foundation, we are fat, fat, fat, fat, fat! Not pleasant news for those of us who live here. Apparently, almost 1/3 of all Tennessee adults are carrying around a lot of extra baggage.

Disconcerting? Absolutely! Obesity is preceded by problems with low income, poor education and lack of access to nearby grocery stores and safe neighborhoods, and other issues.

Discipline is really the bottom line. How many of us are really disciplined enough to control our diets and to head to the gym or even outside for a brisk walk?! Are we willing to pack up the extra portions at our favorite restaurant and bring them home to eat for another meal?

I'm not sure about you, but I prefer to live a little longer. And the more pounds I put on, and the fatter I get, the less likely I am to live longer. My goal for the remainder of 2010? Drop a few pounds and get lean. Come on, it's not that hard

To read the entire article, CLICK HERE.
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Need a real estate agent who understands Middle Tennessee area and the real estate market? Give me a call and let me lend you a hand.

The Best Father's Day Gift

I've often wondered what the first Father's Day gift was back in 1910. Maybe it was a tie. Throughout the years, I've received my share of Father's Day gifts. Everything from ties to shirts to gift cards made the list, but this year, I received the best gift ever.

When I opened my gift, I discovered something so precious that I will treasure it forever. No, not a brick of gold, or a nice new watch, or anything material. It was a book. That's right - a plain, simple book. Once inside I saw photos of my children on every page accompanied by descriptive words about each of them. You see, Annie and Hunter are the most precious gifts that any dad could have. Since they were born I've told them over and over again, "If I had to go to the ______ year old grocery story, I'd pick you out every single time!" I said it then and I say it now. There is NO GREATER gift in this life than children.

When Annie was born in February of 1994, she was a little early. Prior to her birth, she was an active baby. Her mother and I thought sure she would be a boy because she continually kicked and rolled over. She was born after over 24 hours of labor and weighed in at 7 pounds, 13 ounces. Hunter, on the other hand, was a little quieter baby. He was big, though, at 9 pounds 3 ounces, and he was a late arrival - about a week late.

I'm proud of my children and and love them with all of my heart. I'm sure you think your kids are the best, but I have to disagree -- mine are! And everyone says so! If you could get to know them, you'd see that they argue and fight sometimes. Annie tries to "steamroll" over Hunter, but he doesn't let her do that too often. He stands up for himself. But he has a much more tender heart. Hunter is more compassionate while Annie is a confident leader.

When I became a dad back in 1994, it was one of the greatest events in my life. And it happened again for a second time in November of 1995. Two great kids and the wonderful blessings that they bring. I'm so grateful ............

Washington STILL Hasn't Passed Flood Insurance Coverage!

Usually I don't rant and rave about anything much on this blog, but today is different. Right now, real estate transactions where houses sit in any of the AE flood plains in Tennessee ARE NOT able to close. Why? Because the US Senate has NOT voted to pass the bill that extends flood coverage for millions of homeowners nationwide. Without flood insurance, lenders will not allow homes in flood plains to close because there is no coverage for those homes.

Phone calls to Senator Lamar Alexander's office this week revealed that this is a political maneuver by self-serving politicians. Right now, the Senate is considering bill H.R. 4213, a jobs and tax loophole bill that includes language renewing the extension of the coverage. CLICK HERE for more info about the bill.



The Senate has had the bill since last week and it came to the floor earlier this week. Unfortunately, there have been 180 proposed amendments to the bill, some of which have passed, some of which haven't. Even if the Senate votes for the bill, it then has to go back to the House for that body to approve it.

When asked why the flood insurance extension could not be isolated, I was told by Ashley (one of Senator Alexander's assistants) that the Democrats stopped this move originally initiated by Republicans. Unfortunately, the Republicans will not vote for the bill because the bill INCREASES OUR DEFICIT. Republicans want the Stimulus Money to pay for the expenses of the bill, but the Democrats refuse to agree to that.

It doesn't really matter where any of us stand politically. The problem we face is that our representatives are doing nothing more than playing ego-centric games, using bills (such as this one) to foster their own careers instead of taking care of the people who elected them.

If you want to contact your senator's office to register your dissatisfaction about this issue, then CLICK HERE to find the contact phone number for your senator. Even if you don't live in Middle Tennessee, PLEASE call your senator and express your concern for your fellow Americans.
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To work with an agent who knows the Middle Tennessee real estate market, and who is abreast of what's going on the world of real estate, give me a call. I can be reached at 615.373.3513 or via email: jack@jackjernigan.com.

Delayed Closing?

The media is pushing for Congress to extend the deadline to close on homes contracted by April 30 of this year. Due to unforeseen circumstances, some buyer are not able to close by the end of the month deadline. Most of those homes constitute short sales that have taken the seller's lenders longer-than-necessary to approve.

Are you one of those buyers? If you are, or know someone who is, read THIS.

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To work with a real estate agent who will look out for your interests, give me a shout. I'm ready and able to help. You can contact me at 615.373.3513 or via email at jack@jackjernigan.com.

Not Quite the Top 20, but Close!

Nashville just barely missed the Top 20 US Cities that have the best quality of life, a result of evaluating the top 67 US major market cities. Ranked by Portfolio.com, there were 20 different criteria, including: well-rounded healthy economies; light traffic; moderate cost of living; household income; home ownership; and strong educational systems.

Raleigh, North Carolina hailed as number 1. An obvious choice for all the high-tech jobs that Raleigh boasts. Another North Carolina city similar in size to Nashville, Charlotte ranks number 16. With the fifth fastest population growth since 2000, it's a shoe-in for a little higher ranking. My old hometown, Richmond, Virginia, ranked 20, just barely making it into the top 20. With scores fairly even in every category, Richmond does boast a high quality of life.

Check out the top 25 slide show and read the synopsis on each one. You may be surprised at some of those that made the top 20 list.
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Real estate isn't rocket science, but it does take skill, professionalism and knowledge to make your way through each local market. For help with your real estate needs in and around Nashville, please give me a shout. You can reach me at: 615-373-3513, or through email: jack@jackjernigan.com

Record Home Sale for Nashville

Well, it sold ... Alan and Denise Jackson's home in Franklin ... for a cool $28 million. This sale is Middle Tennessee's highest home sale in history and it makes Tayna Tucker's 2007 sale of just over $11 million look like chump change.

The Jacksons paid $1.2 million for the 135 acre tract of land in 1993, then built their three-story colonial home on that estate.

You can check out the 50 photos of the estate, CLICK HERE. And to read the entire article in The Tennessean, then choose THIS LINK.

Enjoy the slide show. The house is quite amazing.
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To work with a real estate agent who knows the Middle Tennessee market, give me a shout. I'm here to help you with all of your real estate needs.

This Ain't Your Daddy's Burger Joint

Nestled in the heart of the trendy SoHo-esque part of Nashville, at 12th and Paris, is one of the city's newest additions, Burger Up. Opened just three weeks ago, Frothy Monkey proprietor Miranda Whitcome Pontes scores a "10" with this worth-the-wait-to-get-in upscale burger joint that's splashed with all the steel and clean lines of yuppiness. The oversized windows provide a great view of 12th Avenue South, and the local businesses and their greenscapes across the street.

Last week my friend, Erin, and I made a date to meet for dinner last night. At the last minute, we decided to try the 12th South eatery just for kicks. What we found inside was one single surf board embossed in red ink with the Burger Up logo as the venue's only artwork. Rows of heavy duty picnic tables, complete with comfortable individual bench seats, were filled with people throughout the restaurant. Never too close together, parties actually feel that they have some private space to chat.



Greeted by our server, Brian, we found that the restaurant is still in the process of "tweaking" it's menu. One glitch is that the burger section never mentions that fries are a standard side to the burgers. Brian forgot to address that little detail, so we ordered the onion ring tower which came as an appetizer.

The Fried Vidalia Onion Tower came with it's own dipping sauce, spicy lemon lime remoulade. The sauce added a zest to the lightly battered and fried rings, providing just enough flavor contrasts.

Our burgers came out fairly soon after finishing the rings. Erin and I ordered Woodstock burgers that come adorned with Benton bacon, Cabot white cheddar, and Jack Daniels maple ketchup. The all-organic burger comes sandwiched between the top and bottom of a homemade bun - a sure-fire hit. The burger's only drawback was that it needed more ketchup. Keep in mind, though, that I like condiments spilling out of the bun, so most other people will probably like the amount of ketchup that comes on the burger.

As the finishing pinnacle to our meal, we ordered the Smores Tiramisu. As a visual person, I imagined this dessert to be a layered concoction of graham crackers and marshmallow cream sprinkled with chocolate chips. Nothing could have been further from reality. Erin and I were totally surprised at the traditional appearance of the Tiramisu. The flavor of campfire smores was there, but with the tenderness and succulence of tiramisu. This tiramisu is Nashville's second best, deferring only to Amerigo's more classic version.

If you're vegan or a total organic eater, you'll find this place welcoming you with open arms. The food selection is also perfect for the person with an edgy palate. For a look at the current menu that they're still refining, CLICK HERE.

If you haven't been to Burger Up yet, you're missing out. Find it and go.
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To work with a professional and knowledgeable real estate agent in the Middle Tennessee area, give Jack a shout. You can reach him at 615-373-3513 x3840 or through email: jack@jackjernigan.com.

Thomas Sowell and His Appeal to Truth

If you're not aware of who Thomas Sowell is, you're not alone. I'd never heard of him until several months ago when a friend offered to let me borrow the book, The Housing Boom and Bust, by Sowell. So far, I've found the book incredibly objective about the truth about the nation's housing market, it's ups and downs, and how it's directly and indirectly related to the rest of the economy.

Through an online search, I found Sowell's credentials to be second to none. He is well educated (Harvard, Columbia and University of Chicago), and appears to be a great defender of truth, not leaning in favor of one political party over another.


A "must read" for every U.S. citizen.

The Housing Boom and Bust can be purchased online through amazon.com, or at Barnes & Noble. You'll find that Sowell is a straight-shooter, calling out former presidential administrations, as well as the current one, and the congressional bodies that supported each one. He points out discrepancies in policies on both sides of the aisle, and the committees and architects of those policies that are in error.

This book is definitely well worth the read. Sowell will enlighten you to the truth and the vast cavern of omissions that are apparent to him. Unlike a typical college-level economics textbook, this is a great 'anytime' read because the author makes it easy to understand, and puts all the pieces together.

To learn more about Sowell, check out THIS SITE.
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If you're looking for a knowledgeable and professional real estate agent to help you with your real estate needs, then look no further. Contact Jack Jernigan, with Crye-Leike, Realtors, at 615-373-3513 or jack@jackjernigan.com

Pac-Man Mania

Released in Japan on May 22, 1980, Pac-Man took off. Soon after, it was released in the U.S. Video arcade games were relatively new to the world, with Space Invaders and Aestroids as the two most popular. Video games were also mostly played by guys, but Pac-Man leveled the playing field, appealing to both genders.

A year later, Ms. Pac-Man was released, the most popular video arcade game in history. I must admit that less college spending money was spent on movies and eating out that year while more was spent on Ms. Pac-Man. I was addicted. In a new venue - the cocktail table version - it was easy to take on an opponent.

That love for Pac-Man and Ms. Pac-Man has never waned. From the original video arcade games to the PC and phone versions, I still find them loads of fun. And so does most of the world.

Want to play a game or two .... or more? Find a flash version for your PC by CLICKING HERE. Enjoy!