You can sell a house for $3.9 million in today’s Nashville-area housing market. But you may not enjoy the experience.
Read on, and spare a little sympathy for the builders and real estate professionals in our midst.
Largest single-family home transactions recorded in Davidson and neighboring counties in May 2009, ranked by dollar value:
1. 28 Governors Way, Brentwood, 37027
Buyers: Jerry A. & Suzanne Matthews
Sale price: $3.9 million
Builder/Seller: Distinctive Design Homes Inc.
Sellers' agent: Paula Duvall (Fridrich & Clark Realty)
Buyers’ agent: Sam Jovanov (French Christianson Patterson)
So, first the builder put this 14,650-square-foot, 22-room palace in the gated Governors Club, with a “panoramic view of the 18th hole” of the club’s golf course, on the market for $4.2 million in January 2007. A year and a half later, the builder dropped the price to $4 million. In January of this year, the builder re-listed the property at $3.9 million with an offer to provide up to $3 million in seller financing at a 5 percent interest rate.
Ultimately, Distinctive Design sealed the deal by making a loan of $2.6 million to the buyers and also buying their old home for $1.8 million (see next item on our list) — and then listing it to sell at less than that price.
2. 5142 Remington Drive, Brentwood, 37027
Buyer: Distinctive Design Homes Inc.
Sale price: $1.8 million
Sellers: Jerry A. & Suzanne Matthews
Agents: None of record
Distinctive Design (see above) has now listed this home in the Princeton Hills development at $1.65 million.
3. 200 Emily Court, Franklin, 37064
Buyer: Pinnacle National Bank
Sale price: $1.45 million
Seller: Wesley D. Turner, trustee in foreclosure against Bernie G. Butler Jr. & Diane S. Butler
Agents: None of record
Pinnacle takes title in foreclosure to one of the units in downtown Franklin’s picturesque Brownstones, developed by Bernie Butler. The place is on the market presently for $2.3 million.
4. 116 Clydelan Court, 37205
Buyers: Joseph A. & Chris C. Hills
Sale price: $1.3 million
Builder/sellers: Cynthia D. & William T. Austin
Sellers’ agent: Betty Wentworth (Zeitlin & Co. Realtors)
Buyers' agent: Ellen Christianson (French Christianson Patterson)
Cynthia Austin pulled the permit to build this house on a teardown lot in Belle Meade. The 6,700-square-foot house, on a dead-end street near Cheekwood, was first put on sale for $1.875 million in May 2008. Its sales price came in 30 percent under that figure.
Joe Hills is vice president for sales and distribution with the Tennessee Lottery, and Chris Hills is a senior vice president at Willis Risk Solutions.
5. 726 Sinclair Circle, Brentwood, 37027
Buyers: Douglas A. & Antonia Silva-Hale
Sale price: $1.195 million
Sellers: Kenneth H. & Edith M. Trader
Sellers’ agent: Suzan Hindman (Prudential Woodmont Realty)
Buyers' agent: Gail Greil (Zeitlin & Co. Realtors)
Another Princeton Hills home here. With six bedrooms and six and a half bathrooms, it sold in two months at only a modest discount to its original price of $1.285 million.
Antonia Silva-Hale is a physician who was serving as an aerospace medicine flight commander in the U.S. Air Force when she received an honorary doctorate from Regis College in Weston, Mass. in 2000, according to a Boston Herald article from that year. A native of the Dominican Republic, she had risen to the rank of colonel in the USAF.
6. 824 Redwood Drive, 37220
Buyer: Aurora Loan Services LLC
Sale Price: $1.057 million
Seller: Shellie Wallace, trustee in foreclosure against Rodney & Melissa Davis and RM Enterprises Group LLC
Agents: None of record
This spec home in Oak Hill was on the market last summer for $1.5 million. Aurora, the lender taking back the title to the property, used to be known as Lehman Brothers Bank — a still-operating affiliate of the collapsed Lehman Brothers financial empire.
7. 7 Medalist Court, Brentwood, 37027
Buyers: Robert G. & Jane D. Jackson
Sale price: $900,000
Sellers: Richard J. & Abby Panner
Sellers’ agent: Jennie Clements (Prudential Woodmont Realty)
Buyers' agent: Doris Marlow (Keller Williams Realty)
Here’s another tough sales story from the Governors Club. Listing records show that this property went on the market last September at $1.3 million and — with the sellers offering an extra incentive of $5,000 to go toward golf club dues — ultimately sold at a 30 percent discount. The price works out to $120 per square foot.
8. 6348 Chickering Circle, 37215
Buyers: Thomas Tesauro and Audrey H. Kang
Sale price: $899,000
Seller: Ron Wood
Seller's agent: Joe Woods (Village Real Estate Services)
Buyers’ agent: Melissa Archer (Cobalt Premier Properties)
This one sits on five acres at the Davidson/Williamson county line and features — if the number on the listing form was not a misprint — a seven-car garage.
The buyers are both Nashville physicians.
9. 3514 Hampton Ave., 37215
Buyer: Clark Elam Harwell
Sale price: $855,000
Seller: John Denson, as trustee of the John Denson Revocable Living Trust
Seller's agent: Melissa & Andy Clough (Keller Williams Realty)
Buyer’s agent: not available
10. 110 Middleton Circle, 37215
Buyer: Christopher J. & Kimberly R. Sigmund
Sale price: $840,000
Sellers: Kathryn L. & Donald F. Berschback
Sellers’ agent: Sidney McAlister (BrokerSouth Real Estate Partners)
Buyers' agent: Buyers' agent: Evelyn Rogers (Harpeth Co.)
This 14,650-square-foot, 22-room palace in the gated Governors Club, which sold for $3.9 million, was the top home sale for May.