The Nashville housing market is hot and strongly favors sellers due to high demand and low supply. Buyers are finding that houses listed only a day ago are suddenly already spoken for, or they’re getting trapped in multiple-bid scenarios that they ultimately lose, forcing them to restart their search from scratch.
It’s almost impossible to overstate how in-demand houses are in Nashville. By some measures, homes in the city are selling faster than in any other major market in the United States and are only listed for sale for an average of 11 days. Home values in the metro Nashville area increased roughly 30% last year.
To combat these issues, consider off-market properties. Off-market properties are houses not listed on MLS sites; therefore, they’re harder to find for you and other buyers, reducing the likelihood of competition. Some of these will be for sale by owner (FSBO), some houses that haven’t been listed yet as they await repairs or updates, and some may not even be for sale until you make an offer to the owner.
While you benefit from reduced competition, the seller also benefits in off-market deals. Increased privacy, cash financing, and not having to solve an overwhelming issue like a significant repair are just a few reasons sellers may decide that this kind of deal is worth it. However, it is advantageous to have an experienced agent on your side – not only for finding the home, since they can be quite hidden, but also to ensure that you’re not facing insurmountable problems before you sign the paperwork.
So how can you find the off-market properties?
Drive around to identify hidden listings
If you drive around the Nashville area, you may see a house sold by the owner without an agent or that’s vacant or abandoned. Even without a “For Sale” sign on the yard, it may be possible to reach out to the owner and inquire if they would be willing to sell. In some cases, the house hasn’t been listed due to a laundry list of repairs that need to be done, in which case you may be able to work out a deal to take it off their hands.
Network with Nashville real estate experts
Another way to learn about off-market properties is to network with people in the know. However, building a network with the right connections can take a long time. In this case, your best option is to hire a Nashville real estate agent with extensive experience in off-market properties and a vast network, like Shelbi Aimonetti. Shelbi’s portfolio includes a vast number of off-market sales, so she knows how to find a hidden gem. Her network includes builders, contractors, investors, and others who keep their finger on the pulse of homes available in Nashville.
Research properties on public records
Another way to find an off-market listing is to dive into public records and look for foreclosures. You can either contact the owner before the foreclosure is complete to see if they will sell to you or reach out to the bank or auction site to try and purchase the home.
Look online for off-market homes
A few sites like Mashvisor and OpenDoor are dedicated to showcasing off-market properties, so browsing through these may help you find homes for sale by owner. The options will likely include short sales, properties up for auction, and for sale by owner (FSBO). Additionally, owners can list their property on Zillow or Trulia before listing them on MLS sites, giving you the chance to spot a great deal early.
Buy unbuilt but not unplanned
Another excellent option is to take advantage of all the new developments in the area. Often, the homes in new developments aren’t listed for sale until the model home is complete, but the blueprints can provide a clear picture of what the finished products will look like. If you see new construction, consider contacting the developer to find out if you can purchase a property from the plans. One of the benefits of this is that your agent may even be able to negotiate some customization so that the home is better designed to fit your specific needs – upgraded kitchen counters, for example, or shifting a wall. Local agent Shelbi Aimonetti is heavily involved in new construction deals in Nashville and will know of possible new construction projects you may want to check out.
Send out mass mailings
If you’re looking for houses to buy as investments, you can send out postcards to targeted areas across Nashville proposing that the owners allow you to purchase their homes. While some of these will be tossed in the garbage, anyone considering selling soon may reach out to discuss the possibility of making a deal.
Additionally, you can set the criteria for who will receive a card. Maybe you want three-bedroom homes to rent out, or you’re only seeking out people behind on their mortgages. In today’s information age, buying a mailing list will give you everything you need to propose a sale.
Contact Realtor Shelbi Aimonetti to learn more about off-market property deals in the Nashville area — her experience means she can help you find properties, broker the deal, and ensure that your investment is protected throughout the process. As one of the premier off-market real estate agents in Nashville, you can trust her to find exactly what you’re looking for, whether it’s a starter home in hip South Nashville or a stately and historic family home in West Nashville. Contact Shelbi today to get started!
