How Nashville West End Summit Became Lake Palmer
Welcome to beautiful Lake Palmer located in the Midtown district of downtown Nashville. But, wait a second, is this a natural lake? Not exactly, it is what is left about Alex Palmer put the brakes on his West End Summit project.
Buying a Condo in the Encore Condos?
You do not want to be the person who paid $139,885 more for the exact same 2 bedroom floor plan than the person 3 floors below you. This is a real example. This actually happened and I have the data to prove it.
Downtown Nashville Residential Statistics and Trends
The Downtown Partnership continues to collect the most up to date statistical trends for downtown. This is their mid-year update.
Million Dollar Homes for Sale In Nashville
Google real estate maps have made searching for million dollar properties easier than ever. Take a look at all of the incredible multi-million dollar mansions Nashville has to offer! Whoa.
State of the Gulch Real Estate Market
The Gulch area in downtown Nashville is one of the most dynamic real estate stories since 2006. Real about the immense popularity of this sleeping urban giant.
Icon in the Gulch 2011 Condo Sales Review
It has been just under 4 years since the Icon in the Gulch first opened its doors. One may have suspected there to be quite a lot of distress in a 418 unit condo building, but the opposite is true. The Icon had its best sales year since 2008 selling 105 total condos in 2011 - 88 developer owned condos and 17 resales. The $282.15 average sales price per foot was almost exactly what I predicted 12 months... [Read the entire article…]
5th & Main Condos Regain FHA Approval
It is a landmark day for ACG Equities, the investor who purchased the 5th & Main project from Wells Fargo Bank in March of 2011: The U.S. Department of Housing and Urban Development has granted the project FHA approval. (click to see full size image) Significance of FHA Approval It is difficult to emphasize how important FHA approval is for a condo project in the United States. Since the collapse... [Read the entire article…]
2011 Most Read Real Estate Articles & Pages
Looking through my website’s statistical data is so much like Christmas morning that I could hardly sleep last night knowing that I was going to find out which articles and pages were the most visited of 2011. It has been a banner year for GrantHammond.com, I recorded 186,189 visits to the site with 123,705 of those being unique visitors. All of those visitors viewed 721,234 total pages and spent... [Read the entire article…]
Nashville Area Luxury Home Sales Analysis
As 2011 draws to a close and I listen to traditional media pontificating on the woes of national home sales, I am again reminded of how fortunate I am to live and work in Middle Tennessee. Many have made the argument that luxury home sales ($500,000 to $2,000,000) have suffered most during the economic downturn and that may be partially true, but my analysis below proves that Williamson County has... [Read the entire article…]
Happy Holidays and Thank You!
Whether you are celebrating Christmas, Hanukah, Kwanza or Festivus, I hope everyone has a wonderful and family filled holiday season. I also wanted to take a moment to thank everyone for allowing me to become the top producing broker in the company for a second straight year. I take your real estate transactions very seriously and, as I was reminded the other day in REI, I may not remember your name... [Read the entire article…]
How do you feel about Nashville? Survey
If you’ve read my blog over any period of time, you’ve noticed that I have formed several very specific opinions about our fair city. This time, I’d like to hear what you think. Please take a few minutes to respond to the 8 polls posted below. Once all of your opinions have been tabulated, I’ll post those results in a tabulation post with commentary from a very special guest! Where... [Read the entire article…]
Forbes Ranks Nashville #3 City of the Future
Recently, Forbes Magazine ran an article identifying their picks for the 40 US cities of the future. Quite a few indicators and factors were taken into account such as education levels, employable workforce, average salaries, cost of living, tax structure, general growth (population and corporate), business friendliness and so on. For those of you who live in Nashville, it should be no surprise that... [Read the entire article…]
Happy Thanksgiving Nashville
This time of the year is always so hectic, tons of traveling, family reunions, black Friday shopping and trying to keep Dad off the sauce long enough to make it through desert (he loves Turkey Day). I wanted to take a second to tell everyone who takes the time to read my blog thank you very much and have a wonderful Thanksgiving. If there is ever a topic I can research or anything I can do for you,... [Read the entire article…]
Encore Condos in Nashville: Pricing Trend
The Encore is a 333 unit, 20 story high-rise condominium building located in a pocket of downtown Nashville called SoBro (South of Broadway). The building delivered in February of 2008 in the face of the greatest economic downturn since the Savings and Loan crisis. Many wondered if the building could survive, if the developers could trudge through without losing their shirt. Some still look towards... [Read the entire article…]
Time to Lower Your Nashville Property Taxes
It’s that time again. No, not time for your annual pre-holiday panic, but time to potentially save some dough on taxes by requesting a new appraisal for your Davidson County property. You have until the end of the year to request a review of your current property appraisal for the 2012 tax year. The Davidson County Assessor of Property makes it easy to request a reappraisal by giving you 3 avenues... [Read the entire article…]
Fifth and Main Auction Results and Review
It was either a raving success or a necessary success, depending upon whether you were an auction buyer or you were ACG Equities, the seller. 23 condos sold at varying discounts during the auction, 2 more sold in the minutes following the final gavel bang. When the dust settled, ACG Equities met their pre-auction goal to sell 25 condos – 19 to new owner occupants and 6 to investors. The benchmark... [Read the entire article…]
Timing the Bottom of the Real Estate Market
It’s like wearing a trucker hat and donning a pair of skinny jeans, it’s the old new cool thing to do. Many, maybe even most, appear to be attempting one of the most difficult feats in the real estate world, timing the bottom of the market. The issue is not necessarily the timing part, but how you quantify the bottom and in which cycle, macro or micro you are timing. Undoubtedly the number one... [Read the entire article…]
Final Foreclosures for Rhythm at Music Row
Next week the remaining developer owned condos in the Rhythm at Music Row will foreclose. This foreclosure will mark the end to a rather unconventional chapter for downtown Nashville high-rises and usher in a new, more welcomed chapter that will see market forces driving value. On Tuesday, September 6th, Cadence Bank and Pinnacle Bank will take possession of 47 unsold condos in the Rhythm. Each bank... [Read the entire article…]
Nashville Real Estate Steal Alert – Werthan Mills
It baffles me why this 2 bedroom, 2 bath, 1,585 square foot loft at Werthan Mills has not sold. First, it is a foreclosure. Second, it is priced at the LOWEST price recorded in Werthan Mills in the past half decade, $126.12/ft. The average price over the past 2 years has been $161.88/ft with the median price being $172.52/ft. That puts the current market value of this loft between $256,580 and $273,444.... [Read the entire article…]
State of the Gulch Real Estate Market
If you live in the Gulch you may be acutely aware of the new and proposed activity, but for the rest of Nashvillians, it may be difficult to see just how much is happening. Since the beginning of the year, 3 new retailers have opened their doors and 2 more are planning on opening by Spring of next year. While that may not amaze the skeptics, one must realize that the lower Gulch is no larger than 3... [Read the entire article…]
I Trust and Need Your Opinion
Trusted friends, family and clients, I am in need of an honest opinion. For the last several months I have been John Kerrying (flip-flopping) over which new logo I am going to use to brand my business. I keep finding reasons not to pick one and move forward and so I am in need of a more sane opinion, yours (yes, I have driven myself insane over this decision). Both logos are very similar, but oh so... [Read the entire article…]
YTD Sales for the Terrazzo Condos
Just past the half way mark in 2011, the Terrazzo in the Gulch has sold 17 condos totaling an impressive $6.27 million. Of the 17 recorded sales, 16 were developer owned condos and 1 was a resale (highlighted in blue). There were no foreclosures or short sales during this period. The 117 condo development is now 86.32% sold out. Of the remaining 16 condos, 7 are under contract, leaving 9 total unsold... [Read the entire article…]
YTD Condos Sales in Nashville’s Icon
With slightly more than 7 months gone in 2011, the Icon in the Gulch has sold 59 condos totaling over $17.46 million this year. Of the 59 recorded sales, 9 were resales (highlighted in blue) and 50 were new developer sales. Of the 9 resales, 1 was a foreclosure on the 9th floor. The 419 condo development is now just over 75% sold out. There are approximately 90 unsold developer condos remaining, but... [Read the entire article…]
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About Me
For a decade, Grant Hammond has been a leader in the greater Nashville real estate marketplace. In the first half of 2011, he is again the top producing Realty Executives broker in Middle TN.Having represented more than 100 individual clients in just the past 3 years, Hammond has the expertise and skill to understand the full scope of his clients' requirements - business and personal - and can help map out a plan with every aspect in mind. Fortunes are made and lost during transitional economies. Given the correct guidance, these periods are fiscally tenable opportunities in which to purchase real estate. Hammond holds a Tennessee broker license, an ABR and e-PRO designation and has received more than 27 real estate awards while guiding more than $285 million in real estate transactions since 2002.
Call Grant 615-945-7123 or email Grant
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