Anniversary

On the 4th of July, 2026 I marked the 50th anniversary of my move to Nashville. 
 
I came here from my hometown, Atlanta, which had during my lifetime become a thriving, throbbing, buzzing metropolis, full of energy and forward motion, with something new and exciting – or so it seemed to me – happening every day. 
 
The Nashville I came to was a medium-sized city, still operating like a small town. Sleepy and skeptical of outside influences. Set in its ways, stubbornly so. Still fighting the Civil War – something Atlanta seemed to have given up decades before. 
 
For my part, I was a green, not-all-that-mature, 24-year-old, fresh from graduate school, with a head full of what I “knew” to be true. I wasn’t impressed by Nashville and thought I’d stay here about 15 minutes … 
 
Well. That was then, now is now, and how things have changed! Nashville and I grew up together, and we are both better for it! I love my adopted hometown, and it looks like I’m here for the duration.
 
Along the way, what did we learn?

Nothing’s permanent Change is the only constant there is. If you don’t like the way things are in the moment, hang on tight and something will happen. I was young and inexperienced 50 years ago. I am neither one of those things now. I’m much more mature and I’m a lot smarter, not unlike Nashville these days. Applying this to real estate: If you don’t like where you are living, make a move. If you can’t make the move you want to right now, work toward the goal while enjoying your current situation as you can. Look forward, not back, and move ahead.
 
Play the long game In global terms, 50 years is but a blip. But it represents the vast majority of my life on this planet, and a fairly good chunk of Nashville history. In real estate, 50 years is more than forever. Quick returns are hard to come by – even in a fast market, which this definitely is not! If you’re wanting to sell at a gain, hold on for the ride. Not 50 years necessarily, but probably at least five. 
 
Change can involve both gain and loss As Nashville has grown, we have lost certain things of value: that small-town feeling, a number of significant historic buildings, relatively manageable traffic. And we have gained others: Excellent food and retail options, a lively entertainment scene, thriving historic neighborhoods, a diverse population, an international airport. For my part, I’ve gained perspective and wisdom, but also achy joints, nascent love handles, and an ability to easily forget things I used to easily remember. Real estate can be the same. There are wins and losses. In spite of what we want to believe, there’s nothing in the US Constitution that guarantees a profit when you sell a house. Sometimes you make money, sometimes you lose a little. But the gain is shelter from the storm and a place to live your life and grow into who you are today. 

Pride

June is (or was, depending on when you read this) international Pride Month.
 
Beginning in 1970 to commemorate the Stonewall uprising, which had occurred the year prior in New York, Pride has grown from events in four US cities into an international observance – a month for LGBTQ+ people to stand up and be counted. To assert their personhood. To demand – still working on this one – a full place at the table.
 
It’s always great to be a part of Nashville Pride, and this year was no exception. Following the march down Broadway to the riverfront, I worked a shift at my church’s booth at the celebration on Bicentennial Mall with some of my fellow parishioners. As always, the mall was mobbed, and the fashion statements were jaw-dropping. Our booth offered water, handed out fans and streamers, and let people who might be doubting know that there is a place for them – at least there is with us. 
 
As always, I went home after my shift in the booth, about to die of the heat, but feeling happy. And – as always – thinking about real estate. 

So, looking for the Pride/real estate overlap, the following …

It’s about life – and how you want to live it. I’ve said it a number of times in this space – your house is the place where you “do” your life. Your house is a part of your identity, a reflection of what makes you, you. Living how you like and where you like is part of the Out and Proud equation.
 
It’s about taking care of yourself. Owning your authentic identity is self-care. So is owning your own house. Paying your own mortgage rather than someone else’s. Building equity for the future. Painting, decorating, landscaping to suit yourself – all part of making your life authentic and the best it can be.
 
It’s about freedom. Owning your identity is about freedom from having to hide who you are. Freedom from stereotypes and societally determined norms. Owning your own house means freedom from ever-escalating rent, from potential whims of a landlord, and from ending up with nothing to show for it after spending your life paying rent. 
 
I’m proud to be out. I’m proud to be a realtor. And I’m always proud to help out if you need real estate counsel. 

Bad Tire Karma

As I write this, I am sitting in the waiting room at Discount Tire on Charlotte Avenue. They are plugging a slow leak in the right rear tire. This is the eighth flat I’ve had in this car – which I have owned for just under five years.

In 1984, when cars came with five full-sized tires, I bought a brand-new Volkswagen Jetta. Within six months, I had picked up a nail in all five of those tries.

My 2012 Mercedes Benz came with one of those little donut spares that are designed to last for about 150 miles max. I had so many flats in that car, the donut wore out. One day while the donut was on the car waiting for yet another flat to be repaired, it gave up the fight and spontaneously blew out. Loud bang! No more donut!

I could tell you more – like about the 1976 Fiat that arrived on our shores with 4 defective tires that had to be replaced within the first year I owned it – but I think I’ve made my point.

I have bad tire karma.

This has been going on since the early 1970s, so I’m (sorta) used to it. And of course, I relate everything in my world to the real estate business, so how about a few insights …

Be prepared for the unexpected (or in my case the semi-unexpected). My current car, a BMW, has no spare at all – not even a donut. I never know when or where my next flat will occur, so I keep my AAA membership current, and I keep a small electric tire pump in the trunk. In the course of a real estate deal almost anything can happen, and maintaining resources and work-arounds, is essential. I try to keep my wits about me and stay flexible. And I stay on good terms with my broker, my closing attorneys, and my go-to lenders.

Roll with the punches. As noted above, with tires and real estate, anything can, and often does, happen. Maintaining an active sense of adventure is helpful. Furthermore, moaning over setbacks – like being unable to get to a showing (because a tire had gone flat, and yes, this happened) or a deal falling apart because of a terrible inspection – is not helpful. Move ahead and look for something you might learn from the experience.  

Celebrate the victories! Roadblocks and setbacks are there to keep things interesting, to challenge us, and to make the eventual victory feel even sweeter. Nothing feels quite like cruising out of the lot at Discount Tires with 4 healthy, fully-inflated, tires. Likewise, nothing feels quite as sweet as sitting with a satisfied client at the closing table after a couple of surprises (shocks, even) on the way to closing.

In the nick of time

I’m scrambling as I write this. 
 
Somehow this year, amid the clutter of life in general and of business in particular, I missed the fact that April only has 30 days, and that today is the last of those 30. My monthly message usually goes out on the last, or nearly the last, day of each month. But as a rule, I put it together the day before, and set it up to go out at 5:30 the following morning. Today, I’m doing the whole thing – writing, designing, and sending – on the same day. 
 
In the nick of time, as they say. Which gets me thinking about time, and timing, and of course, real estate. 
 
Time – or clock time, as Eckhart Tolle describes in The Power of Now – governs almost everything we do in real estate. And yet, clock time is really just an artificial construct that helps us navigate life and get through each day. In a more universal sense, clock time doesn’t exist. “Time” is now. The present moment is all we have. The past is gone and the future hasn’t arrived yet. 

Time in both senses – clock time, and “now” time – are present and affect our real estate dealings. Clock time helps us plan, do business in cooperation with others, mark progress toward a goal, and a host of other useful things. But our lives often unfold and make sense within a different concept of time.

All of our official real estate activities are governed by clock time. Our agreements – listing and buyer rep agreements, purchase and sale agreements, inspection periods, closing dates – are time-limited. They have start dates and expiration dates. 
 
This business couldn’t function without dates and deadlines. Would an inspection ever get done without an inspection deadline? Could we ever close a sale if there weren’t a closing date specified in the contract? The inspection deadline or the closing date might change during the process, but the original date specified in the contract puts down a marker to work toward. It keeps both sides on track and focused on getting things done. 
 
However, the less concrete, more universal sense of “now” time, plays a big role, as well. We live in the now. Moment by moment. Planning for the future and remembering the past are vital to our sanity, but the present moment is really all we have. 
 
So, we look at how we are living now. Am I happy with my house? Does it meet my needs now? It might have met your needs years ago, or even days ago, but it does no longer. It might, or might not, meet my needs at some point in the future, but now it works. Or doesn’t work.
 
The understanding that the past is gone – and what’s gone includes how much you paid for the property – enables a clearer look at the present. Likewise, understanding that the future isn’t here yet – and may never get here, at least not in the form we imagine it – allows a more clear-eyed look at the present.
 
And we come back to the often-asked questions: “Is this a good time to buy a house? Is this a good time to sell?” The answer always must start with “now” and then look to the past and the present for context and nuance. 

Tax Time

It’s that time of year.  Many of us are playing beat the clock – sorting through stacks, totaling-up mileage, rounding-up receipts, collecting 1099s and W-2s – in order to file. Or at least get it to the accountant. Moaning all the while about the expense and the indignity of it all.
 
But I’ll take a different angle …
 
About 50 years ago, I had a conversation with an older member of my extended family. Recently widowed, she had had to pay a tax on the estate of her very successful late husband. She was so furious that her voice quavered, her lips were white, her face flushed. She mentioned an amount that in today’s money would be close to $200,000. 
 
That’s a lot of money, I’ll admit. But at the time, my thought was that I wished I had an estate large enough to be taxed by such a whopping amount. I never said this to my relative (too timid back then – how times change!) and she retired to a plush beachfront condo on Longboat Key and lived another 30 years, still furious, no doubt, at the IRS.
 
I have replayed this scene in my mind countless times since – especially at tax time. I try to focus on the fact that the more I pay, the more I’ve made – and I like to make money! In my years in real estate, I’ve paid as much at $100,000 in income tax, and as little as $15,000. I consider it a privilege, no matter the amount.

With that in mind, let’s review a few ways home ownership and taxes interact. It’s not all bad!
 
Mortgage interest deduction
If you are paying a mortgage, there’s a substantial deduction available to you. Mortgage interest is the single biggest deduction most people who itemize can take. And it can reduce the taxes you owe – significantly! 
 
Property tax deduction
Right behind mortgage interest is property tax. And another good way to reduce your liability.
 
Lesson: If you feel your tax burden is too high, buy a house!  

Capital Gains
Here’s one that many people moan about. And sometimes it amazes me. I know at least two people right now who are staying put in properties that are less than ideal because they don’t want to pay capital gains tax on their increased equity. And given real estate price inflation over the past six years, that increase could be quite substantial. 
 
I’d advise you to look at it from my angle. The more you pay, the more money you made – while having a roof over your head and shelter from the storm. If you have a large capital gains tax bill, it’s a given that you had a whopping increase in equity. Why moan about the tax when you could open a bottle of good champagne and celebrate the money you made?
 
Lesson: Focus on the upside and enjoy your life!