October 2009 Nashville Real Estate Market Analysis
Take a look at the October 2009 Nashville real estate markets statistics and see if you are coming to the same conclusion as I am. The data may surprise you, might even shock you a little too!
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.
Ireland Street Townhome for Sale $229,900
The Ireland Street Townhomes offer owners a unique view of downtown and excellent access to Historic Germantown at a fraction of the price. These townhomes are rated as excellent investments as they lease quickly.
9 Against, 29 in Favor of New Nashville Convention Center
The Metro Nashville City Council has voted 29 to 9 to move forward with funding the new $585 million downtown Nashville convention center also known as the Music City Center. Read the full story and get the inside details...
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.
My Favorite Banned and Aired 2010 Super Bowl Ads
While you can plainly see why this first ad was banned, It’s still super funny and sadly relevant. I have at least 3 friends who still say “it’s in the hole” right when they strike a 90 foot, double breaking, downhill put on a concrete green…(Warning, not suitable for the kiddos) Favorite 2010 Super Bowl Ad that Aired This commercial aired in the second quarter of the Super Bowl, I am still... [Read more about this property...]
5 Best Condo High-Rises in Nashville
The Adelicia – The finishes, floor plans, design, construction materials and location all speak for themselves in this building. Famous residents like Simon Fuller and Taylor Swift have only added to its reputation (and price). The Terrazzo – The finishes are perhaps the highest end in Nashville, but its Interstate location and lack of views knock this building down a notch. The Terrazzo is Nashville’s... [Read more about this property...]
Convention Center Hotel Site Comes Back Home
According to the Nashville Business Journal, A Davidson County Circuit Court judge has ruled that the MDHA has the right to take a 5.7-acre parcel from Tower Investments for the Music City Center convention hall project. Clearly, this is a massive legal victory for the new convention center as the Tower Investments parcel of land represents the best location for the center’s hotel. As you may recall,... [Read more about this property...]
May Town Center Development Chatter Resumes
Today, Tennessean reporter Nate Rau, wrote an article explaining that Metro Council discussions of the decidedly utopian 500 acre West Nashville May Town Center development could be revived as early as March. Councilman Matthews, whose district includes the potential site, is considering putting the development proposal on a March public hearing agenda. The Councilman was quick to point out that the... [Read more about this property...]
Embattled 5th & Main Condos Earn FHA Approval
The 5th & Main condo project in East Nashville, the first large condo project to enter receivership in February 2009, has received approval to issue FHA insured loans (according to the HUD website). The project has qualified under the new, lower FHA guidelines that only require a project to be 30% presold in order to qualify for the government backed loans. The FHA loan concentration has also been... [Read more about this property...]
9 Against, 29 in Favor of New Nashville Convention Center
The Metro Nashville City Council has voted 29 to 9 to move forward with funding the new $585 million downtown Nashville convention center also known as the Music City Center. The financing package approved by council tonight allows for a maximum of $650 million. That covers both the price of the project and financing costs such as the establishment of a $40 million debt service reserve fund. The... [Read more about this property...]
Mortgage Rates Lower, Stable in Q1 2010
The average interest on long-term mortgage rates fell this past week, after rising for four consecutive weeks. Freddie Mac reports that 30-year fixed mortgage rates averaged 5.09 percent, down from 5.14 percent a week ago and compared with 5.01 percent in 2009. Also, 15-year, fixed loans fell 0.4 percent to 4.5 percent; five-year adjustable-rate mortgages were unchanged; and one-year ARMs declined... [Read more about this property...]
Nashville Plans Free Wireless Internet for City
Nashville Technology Council President Todd Fetherling has told the Nashville Post that the organization plans to implement a free wireless Internet network in downtown Nashville. The group plans on placing its first transmitter in the central business district and believes that a strong wireless signal should emanate within a 0.9 mile radius. The location of this first transmitter will be the Nashville... [Read more about this property...]
Griffin Plaza Condo Site in Gulch Gets Reprieve
In 2007, Crosland Tennessee President Bill Barkley announced plans to develop a 2 acre parcel of land in the Gulch into Griffin Plaza, a $35 million 10 story project with 140 apartments and 32,000 square feet of ground-floor retail space. With that announcement, the website went live and the buzz began to build with mentions of urban revitalization, green spaces, LEED certifications and urban pocket... [Read more about this property...]
Icon in the Gulch Big Winner or Buyers?
2009 was supposed to be a horrible year for Nashville condo sales, yet the Icon in the Gulch was able to sell and close 84 new condo contracts. By the pure number of closings, the Icon in the Gulch was certainly the big winner in terms of gross number of sales, but many may be surprised to learn that 84 condos only represents about 20% of the 419 unit building, the biggest residential condo building... [Read more about this property...]
2010 Mortgage Rate Predictions
Nashville mortgage rates ended 2009 above 5 percent, with Freddie Mac reporting 30-year fixed rates at an average 5.14 percent, still very affordable by historical standards. Although higher long-term borrowing costs late in the year could signal further increases for 2010, new data from Wells Fargo, JPMorgan Chase, and the Mortgage Bankers Association indicates more borrowers are refinancing into... [Read more about this property...]
World’s Worst Predictions – Famously Wrong Predictions
While just a few of these predictions pertain to the real estate world, it is important to remember that even the most trusted sources can be completely wrong. These predictions are a reminder that we constantly need to perform due diligence in a best effort to make accurate predictions. I always strive to provide Nashville will the best real estate information available and to make calculated predictions... [Read more about this property...]
Nashville Real Estate Market Forecast for 2010
The Nashville housing market will experience an accelerated sales volume in 2010 aided by the government’s extension and expansion of the first time home buyers federal tax credit, more government-backed lending assistance, and historically low mortgage rates according to 90% of major forecasts for 2010. Surrounding real estate markets will improve in the Southeastern U.S. with average housing... [Read more about this property...]
Nashville Ranks High in 2009 Economic Studies
There is little debate that Nashville and Tennessee consistently rank atop many economic ranking lists and studies. The last 2 months of 2009 provide no exception with Nashville again being named to several prestigious “best in the United States” lists: December 2009 – MarketWatch Nashville Ranked as One of the Best Cities for Business Nashville ranked 15th as one of the best U.S. metro... [Read more about this property...]
12 Days of Christmas Song Foreclosure Style
Well, all I can say is that it is sort of true, but certainly funny and sadly relevant. Merry Christmas and enjoy a little twisted humor! (does have sound)
Mortgage Interest Rates Move Higher
Mortgage interest rates on 30-year fixed mortgages rose to 4.81 percent last week, after the prior week’s fall to a record low of 4.71 percent, reports Freddie Mac. While the Federal Reserve’s effort to purchase $1.25 trillion in mortgage-backed securities issued by Fannie, Freddie, and Ginnie Mae has helped keep rates attractive, Freddie Mac chief economist Frank Nothaft says interest... [Read more about this property...]
5 Year Nashville Condo Market Analysis
The economic recession has affected the US housing market disproportionately. The problem is that the local, regional and nation media outlets are very good at pointing out the obvious bad markets like Las Vegas, Miami and Phoenix, but they are very bad at explaining where the rest of the local markets are in the housing cycle. In fact, most media outlets are simply content with spouting out static... [Read more about this property...]
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About Me
Grant Hammond is the foremost downtown Nashville real estate market expert and condo guru. Having represented more than 125 individual pre-construction condo buyers in just the past 3 years, he has the expertise and connections to secure deals on Nashville real estate. Hammond has guided more than $215 million in real estate deals since 2002. Hammond holds a Tennessee broker license, an ABR and e-PRO designation and has received more than 27 real estate awards.Call Grant 615-945-7123 or email Grant
If you're so smart, you tell me!
When will the Nashville real estate market hit bottom and hold values?
- We are most likely near the bottom now (27%, 54 Votes)
- We're on a slide with no end in sight (3%, 7 Votes)
- Some time in 2010, not sure when (45%, 92 Votes)
- What, are you kidding? In 2011 or longer! (25%, 51 Votes)
Total Voters: 203
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