What is the market like in Middle Tennessee with all of the mortgage changes and foreclosures?

Asked by Tennessee Buyer/Seller, Columbia, TN Sun Sep 30, 2007

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7
Chris Willia…, , 38401
Sun Sep 30, 2007
Tennessee Ranks 11th in foreclosures and that does have an effect. On a positive note however we still have a strong market compared to some other areas of the country. We have seen a cooling with the tightening of funds available to the No Money Down Market, but sales are still strong.
1 vote
Frick Hickman, Agent, Franklin, TN
Fri Apr 11, 2008
The market here is on the upswing. We are experiencing growth and have strong activity. Mortgage companies have become more cautious about loaning money. They are looking for strong buyers with good credit. There are plenty of mortgages being made for qualified buyers.

Some of the foreclosures have made it possible for a buyer to get a good deal on property if they don't mind working on a house. The foreclosures are not staying on the market very long if they are priced appropriately for their condition.
0 votes
Rodney Mccar…, , Spring Hill, TN
Fri Apr 11, 2008
You need to check out the audio interview with Carey Ann Cyr, CTX Mortgage at http://www.MoveToSpringHill.com or http://www.RodneyMcCarthy.com

In the interview, Carey Ann explains how to repair your credit, new FHA limits over $400,000, and how 100% is still available.

Rodney McCarthy
Remax Elite
615-564-0444
0 votes
Jan Wood, , Gallatin, TN
Sun Oct 7, 2007
People are still buying and selling! That's the good news. We are in a correcting market. The Middle Tennessee area has lots of inventory... thus, when selling, your position has to be RIGHT! The condition of your home should be top-notch. If you want to buy in the Middle Tennessee area, hire and get the advice of a real estate professional. They can give you all the necessary data in order to get the right price. Don't go it alone.
0 votes
Dena Parker…, , Tennessee
Mon Oct 1, 2007
I agree with the others. With Tennessee's ranking in foreclosures, I would also keep in mind that it is for the entire state. While Middle TN is seeing it just like everywhere else, Memphis has had an enormous increase in foreclosures. Like the others have said, Middle TN is still a strong market. In most areas, while inventory is greater and is taking longer to move, the prices have still shown appreciation over last year. However, if you are looking to sell, you will not be able to expect the same amount of appreciation that has occurred in the several years past. Remember that buyers can see how much you paid for your house because it is public records. I've seen some people in a house 2 years that expect to sell for $100,000 more than they paid. Buyers simply will not do that today. Expect average appreciation for your home and you will not be disappointed. You may sell for less than you'd like, but chances are you will make up the difference if you buy low. Hope this helps!
Web Reference:  http://homenashvilletn.com
0 votes
Lee Courtwri…, , Davidson, Wilson, & Sumner Counties
Mon Oct 1, 2007
Excuse me for the typo, that should have been "experiencing," not experiences.
Web Reference:  http://leecourtwright.com
0 votes
Lee Courtwri…, , Davidson, Wilson, & Sumner Counties
Mon Oct 1, 2007
Because our prices here in Nashville and Middle TN never go so outrageous, as they did in the coastal areas, Washington DC, Las Vegas, etc, we are not experiences a major market adjustment as those areas. Yes, we are seeing homes stay on the market a bit longer, and sellers offer more incentives here and there, but as a whole, the Mid TN market is still very strong and will probably remain so for several years to come.
Web Reference:  http://leecourtwright.com
0 votes
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