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VOL. 45 | NO. 5 | Friday, January 29, 2021

Inexcusable construction flaw or a convenient scapegoat?

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2006B Overhill Drive

Many houses are selling for thousands if not hundreds of thousands of dollars more than list price. Others are not selling. There’s usually a fatal flaw when a house remains unsold in this market. Sometimes they are hidden, but they are there.

They are not flaws to the owners, after all. They have lived with these quirks for years. There is no extra charge.

Many can be remedied, while others cannot. During the past few years, many buyers are insistent that they have the owner’s suite on the first floor rather than upstairs or a flight of stairs below the entrance. Even with the improved joint replacement technology, many feel that their knees have withstood enough steps.

The cladding known as exterior finishing insulation system, or EIFS, has been stigmatized over the years, some of the criticisms are fair and others not. Some pronounce it as eefs, the correctly abbreviated form, while others continue to call the material eefus, a use that dates back to the time when no one knew exactly what the surface was.

There were class-action lawsuits in North Carolina when EIFS was installed on a number of houses and the windows began to fall from their sashes. The courts held in favor of the homeowners, and the builders and Dryvit International, the manufacturer of EIFS, and often a word used interchangeably with EIFS, had to pay handsomely to correct the problem.

The late Steve Wachtler, a Nashvillian by way of Lawrenceburg and the president of Dryvit at his death, said shortly after the lawsuit the brick homes built by the builder began to experience the same phenomenon. As it turned out, the builder was unable to install windows correctly.

Most commercial construction utilizes the EIFs, but their structures often are not framed with wood. EIFS can attract termites when exposed to moisture, and said termites will devour wood. Properly installed, EIFS is a safe, sound cladding, but it does require more maintenance than brick or concrete.

The good news is it can be removed and replaced with true stucco. Even true stucco houses are seen as potential accidents by many real estate brokers and buyers due to be confused with EIFS.

A quick trip to Italy provides a solid case for true stucco; those buildings have been around for centuries.

Many Realtors have been forced to deal with houses that they and the sellers are convinced are haunted. There is no place on the Tennessee Property Condition Disclosure for paranormal activity. Unfortunately, Pat Morton, the city’s best ghost buster, has relocated to Florida. She never left a house without sending the ghosts to a better place.

Those worried about visitors from another plane should bring their own medium. And mediums are rare these days.

Sale of the Week

When Morgan Schofield listed 2006B Overhill Drive in Green Hills Dec. 2, she knew she had listed a marketable property in one of Nashville’s most desirable locations, but even she never dreamed a house would sell in a matter of hours. It had, after all, been long-rumored that the period between Thanksgiving and Christmas is slow in real estate.

Not only did the former fitness and health guru turned Realtor sell the house in one day, she also sold it for $1.25 million, $25,000 more than list price in yet another multiple-offer scenario.

But wait. There’s more.

After receiving the offer for over list price, the sellers wondered aloud if it would be suitable with the buyers to allow them to hang around a couple of extra weeks as their new build in Franklin was not ready at the date of closing.

That rarely happens, but perhaps it was the season. The buyer allowed the 14-day sleepover.

Another reason might have been the fact that this is a Mark Spivey-built house with the owner’s fingerprints all over it, Scofield says. “The personal touches of the seller made the house irresistible.”

While Schofield is with Parks, the buyer’s agent was Brittney Bishop Lasater, a member of Pilkerton Realtors. She won the war for the house that Schofield described as “a stunning modern home with a flowing, open floor plan, anchored by a gorgeous kitchen in the center.”

The house has five bedrooms, four full baths and one half-bath. With 3,860 square feet, the house sold for $324 per square foot. The buyers had paid $949,900 in 2017.

Richard Courtney is a licensed real estate broker with Fridrich and Clark Realty, LLC and can be reached at richard@richardcourtney.com.

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BUILDING PERMITS 0 0 0
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UTILITY CONNECTIONS 0 0 0
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