Brentwood TN Homes and Real Estate
-
Greater Nashville Area:August 2009 Third Month In A Row of Stable Closings
Posted Under: Market Conditions in Nashville | October 1, 2009 6:09 AM | 39 views | No commentsGreater Nashville Area:August 2009 Third Month In A Row of Stable Closings
Find Nashville Franklin and Brentwood TN Homes for Sale Now!
AUGUST BRINGS SINGLE-DIGIT DECREASE IN CLOSINGS,
THIRD MONTH OF 2,000+ PROPERTIES SOLD
There were 2,064 home closings reported for the month of August, according to figures provided by the Greater Nashville Association of REALTORS®. This represents an 9.2 percent decrease from the 2,273 closings reported for the same period last year.
Year-to-date closings for the Greater Nashville area have decreased 23.8 percent. There were 13,518 closings, compared with 17,758 closings reported through August of last year.
“The number of closings has stabilized in recent months and it is encouraging that we have exceeded 2,000 sales for the third consecutive month,” said GNAR President Mike Nichols. “The median price has decreased, primarily as a result of short sales and foreclosures, which makes the current real estate market a good one for investors. It is also reasonable to expect that some first-time buyers will act soon to take advantage of the $8,000 tax credit before it runs out December 1, 2009.”
A comparison of sales by category for August is:
Closings
Residential
Condominium
Multi-family
Farms/Land/LotsAugust 2008
2,273
1,883
289
29
72August 2009
2,064
1,710
265
11
78There were 2,181 sales pending at the end of August, compared with 2,149 pending sales at this time last year. The average number of days on the market for a single-family home was 88 days.
The median residential price for a single-family home during August was $160,000, and for a condominium it was $147,900. This compares with last year's median residential and condominium prices of $177,500 and $162,500, respectively.
Inventory at the end of August was 24,404, down from 24,975 in August 2008. The current inventory of properties by category, compared to last year, is:
Inventory
Residential
Condominium
Multi-family
Farms/Land/LotsAugust 2008
24,975
15,636
2,575
395
6,369August 2009
24,404
14,828
2,490
441
6,645“Residential and condominium inventory is lower than last year, but there is still an abundant selection of quality properties all across Greater Nashville. The inventory of farms, land and lots remains high and will likely stay that way until homebuilding activity increases,” said Nichols. “Those looking to take advantage of the Federal Housing Tax Credit, if not already looking, should immediately start the process of finding a home. Buying a home is rightfully a lengthy process and to take advantage of the
$8,000 credit, the property must be purchased by December 1.”
The Greater Nashville Association of Realtors® is one of Middle Tennessee's largest professional trade associations and serves as the primary voice for Nashville-area property owners and real estate professionals. REALTOR® is a registered trademark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics. ©Copyright 2007-2011 GNAR.
Find Nashville Franklin and Brentwood TN Homes for Sale Now!
-
Brentwood TN Real Estate Short Sale: The Governors Club $1,250,000
Posted Under: Home Buying in Nashville | October 1, 2009 6:05 AM | 113 views | No commentsBrentwood TN Real Estate Short Sale: The Governors Club $1,250,000
Find Brentwood TN Homes for Sale Now!
• 6,750 sq. ft., 5 bath, 4 bdrm 1 1/2 story "TERRACE LEVEL ALSO" -
MLS® $1,250,000 - SHORT SALE STEAL! The Governor's Club, Brentwood TN - INCREDIBLE SHORT SALE STEAL~ ONE OF A KIND CUSTOM BUILT~EXCLUSIVE GATED COMMUNITY ~ON THE GOLF COURSE~PAID 2 MILLION~MAIN LEVEL & TERRACE LEVEL~ FABULOUS THEATRE~ SMART HOUSE W/ FULLY INTEGRATED CONTROLS~ ELEVATOR~CONTINGENT UPON BANK APPROVAL. True one of a kind work of art. Custom designed and built, the amenities are a must see! Amazing iron work, antique wall tiles from the turn of the century and around the world. 5 custom carved fireplaces plus an outdoor fireplace as well. 2 balconies, 2 covered porches as well as upstairs and terrace level wet bars and entertainment areas. This is an entertainers dream! Expansion room on attic level could ad hundreds of sq. ft! Located on the 2nd hole of the world famous Arnold Palmer golf Course at The Governors Club, gated secure community, pool, club house, restaurant, tennis, walking trails and more! Far below purchase price/last appraisal, this is a steal! Short sale contract & commission are subject to the seller's lender approval! Verbal approval on this listed price! Hurry for your chance at one of the finest homes in Governors Club at a price you can build equity with for sure! Pre Approval & cashiers check w/ all offers,agent/buyer to verify all info.
Vanessa Stalets
615-957-6333
RE/MAX Elite
615-661-4400 -
HOME SALES TRENDS REMAIN CONSISTENT IN DECEMBER
Posted Under: Market Conditions in Nashville | January 9, 2009 4:38 AM | 144 views | No comments
HOME SALES TRENDS REMAINCONSISTENT IN DECEMBER
There were 1,422 home closings reported for the month of December, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 32.5 percent from the 2,109 closings reported for the same period last year.
For the fourth quarter there were 2,213 closings in Greater Nashville, which represents a 35.6 percent decrease from the 6,856 closings during the fourth quarter of 2007
And, there were 24,246 closings year-to-date in 2008. That is a 29 percent decrease compared to the 34,221 closings reported through December 2007.
“The Greater Nashville real estate market was down throughout the year, but at a reasonably consistent level,” said GNAR President Mike Nichols . “While the fourth quarter was down more than was the trend earlier in the year, it is encouraging to note that December closings increased in every category compared to the prior month. It is not expected that there will be any immediate major change in the trends, but the spring selling season may bring some added energy to the market throughout the region."
A comparison of sales by category for December is:
Closings
Residential
Condominium
Multi-family
Farms/Land/LotsDecember 2007
2,109
1,620
332
25
132December 2008
1,422
1,152
192
27
51A comparison of sales by category for the 4th quarter is:
Closings
Residential
Condominium
Multi-family
Farms/Land/Lots4th Qtr. 2007
6,856
5,296
1,091
96
3734th Qtr. 2008
4,413
3,639
549
69
156A comparison of sales by category year-to-date is:
Closings
Residential
Condominium
Multi-family
Farms/Land/LotsY-T-D 2007
34,221
26,955
4,790
449
2,027Y-T-D 2008
24,246
19,742
3,242
300
962There were 1,250 sales pending at the end of the month, compared with 1,771 pending sales at this time last year. The average number of days on the market for a single-family home was 91days. The median residential price for a single-family home during December was$163,750, and for a condominium it was $134,062. This compares with last year’s median residential and condominium prices of $187,900 and $169,750, respectively.
Inventory at the end of December was 21,274, up from 22,301 in December 2007. The current inventory of properties by category, compared to last year, is:
A comparison of inventory by category for December is:
Total Inventory
Residential
Condominium
Multi-family
Farms/Land/LotsDecember 2007
20,673
13,406
2,248
353
4,666December 2008
23,467
14,167
2,453
375
6,472“With more than 20,000 homes on the market currently, there is a great selection for those considering a purchase,” said Nichols. “From seasoned investors to first-time buyers, this can be an excellent time to buy. Tax incentives, exceptional interest rates, a broad selection of homes and other key factors have created a very favorable situatoin for potential buyers."
The Greater Nashville Association of Realtors® is one of Middle Tennessee's largest professional trade associations and serves as the primary voice for Nashville-area property owners and real estate professionals. REALTOR® is a registered trademark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.
Vanessa Stalets
615-957-6333
RE/MAX Elite
615-661-4400
Your Nashville, Franklin and Brentwood TN real estate expert! -
Home Sales Slow in November!
Posted Under: Market Conditions in Nashville | December 10, 2008 5:29 AM | 113 views | No comments
HOME SALES IN GREATER NASHVILLE
REMAIN SLOW IN NOVEMBER
There were 1,243 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 45 percent from the 2,2,60 closings reported for the same period last year.
And, there were 22,824 closings year-to-date in 2008. That is a 29 percent decrease compared to the 32.112 closings reported through November 2007.
“The real estate market in Greater Nashville is clearly feeling the effects of national economic trends,” said GNAR President Mandy Wachtler. “It has taken longer for the trends to have their impact here, and the impact is still less than many other locations. And, we anticipate that we will be among the places where positive trends are seen earlier than other locations, as well. Even with the current market conditions we have, there is still no better place to be than right here."
A comparison of sales by category for November is:
Closings
Residential
Condominium
Multi-family
Farms/Land/LotsNovember 2007
2,260
1,747
361
42
110November 2008
1,243
1,029
155
21
38There were 1,267 sales pending at the end of the month, compared with 1,946 pending sales at this time last year. The average number of days on the market for a single-family home was 81days. The median residential price for a single-family home during November was$165,000, and for a condominium it was $150,000. This compares with last year’s median residential and condominium prices of $179,900 and $167,035, respectively.
Inventory at the end of November was 23,467, up from 22,301 in November 2007. The current inventory of properties by category, compared to last year, is:
A comparison of inventory by category for November is:
Total Inventory
Residential
Condominium
Multi-family
Farms/Land/LotsNovember 2007
22,301
14,557
2,404
418
4,922November 2008
23,467
14,167
2,453
375
6,472“Inventory remains plentiful but seems to be leveling out, especially for residential and condominium properties,” said Wachtler. “There are loans available at what are still remarkable rates and transactions are still getting done at fair market prices for both buyers and sellers."
The Greater Nashville Association of Realtors® is one of Middle Tennessee's largest professional trade associations and serves as the primary voice for Nashville-area property owners and real estate professionals. REALTOR® is a registered trademark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.©Copyright 2007-2011 GNAR.
Vanessa Stalets
615-957-6333
RE/MAX Elite
615-661-4400
-
Nashville TN #6 on Top 10 Cheapest Cities To Own a Home!
Posted Under: Market Conditions in Nashville | October 8, 2008 4:59 AM | 333 views | No comments
From your Brentwood, Franklin and Nashville TN Homes leader, Vanessa Stalets
In their newsletter to agents GNAR provided the following information! Great news for relocating buyers as well as local buyers! In an economy where every dollar counts, it is nice to know that Nashville TN is still the place to be!
*** BEGIN QUOTE ***
The cost of buying and maintaining a home is pretty reasonable if you live in certain Midwestern or Southern cities, according to Forbes magazine’s new report.To determine America’s least expensive places to own a home, Forbes used data from the U.S. Census Bureau’s 2008 American Community Survey, released Tuesday.
The survey reported the 2007 median monthly housing costs in the country’s metro areas with a population over 65,000. Housing costs include monthly mortgage payments, real estate taxes, various insurances, utilities, fuels, mobile home costs and condominium fees.
Here are the top-10 cheapest cities to own a home:
1. Cleveland: $978 a month
2. Columbus, Ohio: $1,060 a month
3. Pittsburgh: $1,187 a month
4. San Antonio, Texas: $1,216 a month
5. Indianapolis: $1,232 a month
6. NASHVILLE: $1,256 A MONTH*** END QUOTE ***
To access the original FORBES Magazine article that was the source for this report, go HERE.
[SOURCES: GNAR News Letter; REALTOR Magazine Online; FORBES]
NashvilleTN Homes for Sale
Vanessa Stalets
615-957-6333RE/MAX Elite
615-661-4400
Blog
Fair Housing and Equal Opportunity