Sorry, I should have been more specific...the character limit on the question got me! We aren't looking to live in Brentwood. I mean, that would be great, but it's impossible to do for 200K or less and we know that. I would like to live in an area where I feel as safe as I do in Brentwood, however. I'll be working probably at Vanderbilt and my boyfriend is working for PWC in Franklin, although he'll do most of his work from home and at the companies he audits which will be downtown for the most part, so we are open to anything within a reasonable commute (20-25 minutes or less preferably) to downtown...we're also open to anything actually in the city itself. The area between Franklin and downtown is what we're most familiar with but we also know real estate in that area is more expensive. We would ilke 2 or 3 bedrooms, and we prefer a single family home to a townhome but are open to either one...I've had trouble finding any townhomes with a fenced-in yard big enough for a Lab though, and that's a must for us.

So I guess it boils down to: 200K or less, 2-3 bedrooms, fenced yard big enough for a Lab to run around in, safe neighborhood within 25 minutes of downtown, granite countertops in the kitchen and minimal vinyl siding. Right now we're just trying to get a feel for whether or not our paramters are realistic or if they need to be adjusted.

Sat May 10 2008, 14:06

Certain areas of Nashville are appreciating so quickly, buying vs. renting makes perfect sense. There are numerous historic replicas being built throughout Nashville with 3 BR / 2.5 BA in the $200K range. Those are great options. Also, you may be able to grab an existing home in area 6 at that price point. Locations vary, however.

Fri May 9 2008, 21:56

Now is absolutely the time to buy! Local market indicators are showing an upward trend in both housing prices and interest rates in the months ahead. Nashville's market is stable compared to most other parts of the country, so buying now while there are some good buys out there is the smart thing to do. No one can predict the market, so who's to say whether prices are going to go way up or stay stable. What we know NOW is that the market is very favorable for buyers.

For 200k, you're not likely to find that house with a fenced yard, granite countertops and no vinyl siding in Brentwood...It doesn't exist. However, $200,000 can buy you a nice home elsewhere, so it depends on where you want to live. What areas are you interested in, and where will you be working? These details will help us help you better. Do you want 3 bedrooms? A single family home or townhome? How much of a commute are you okay with? Are there any other features that are important to you?

My advice...BUY NOW or as soon as you are able!

Fri May 9 2008, 07:25

Hi Allyson,

You have a great questions... the real estate market has taken quite a hit in the past year and it is possible that some areas will still see more decline in the next year, however if you wait till the market really hits rock bottom to try to squeeze that last penny out of a deal.... its like jumping over a dollar to get to a penny, IMHO. - I would say Buy Now, and its best to search for a savvy, expierenced Real Estate Expert in your area who will know your market best to help you make the right choice. This will be "your" Buyers Agent .... and will cost you nothing. Sellers typically pay all agent related fees.

I would never tell you to do something that I am not doing myself. Emily and I have just bought 4 homes and a duplex in the past few months. Will house prices go down any further? Maybe... but maybe not. A good thing to look at is the price of other goods. Is gas prices going down or the cost of milk? Nope.

Population grows at a marked rate as seen by growth demographics over the past 100 years, people need to live somewhere and schools keep graduating a new crop of consumers each year. Go for it!

That is my 2 cents worth!
-Don Sr. / Broker

Fri May 9 2008, 06:28