December 2009

Nashville Real Estate Market Forecast for 2010

December 31, 2009 by admin · View Comments  

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 the entire article…]

Nashville Ranks High in 2009 Economic Studies

December 28, 2009 by admin · View Comments  

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 the entire article…]

Nashville Mortgage Rates Begin to Rise

December 24, 2009 by admin · View Comments  

Nashville long-term mortgages moved closer to 5 percent this week, with interest on 30-year, fixed loans averaging 4.94 percent compared to 4.81 percent last week and 5.19 percent a year ago. Freddie Mac also reports hikes for 15-year, fixed mortgages, five-year adjustable-rate mortgages, and one-year adjustable rate mortgages. The 15-year, fixed rate rose to 4.38 percent from 4.32 percent; the five-year adjustable... [Read the entire article…]

12 Days of Christmas Song Foreclosure Style

December 22, 2009 by admin · View Comments  

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

December 14, 2009 by admin · View Comments  

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 the entire article…]

Nashville Condo Market Debate Continues

December 13, 2009 by admin · View Comments  

Recently, an educated rebuttal was posted on my 5 year condo analysis article. This rebuttal had some great points that I have posted in their entirety below. My answers/thoughts follow each point in blue. “An interesting analysis, but I respectfully disagree with your conclusion that now is the best time to buy a condo in Nashville. I believe prices will continue to decline for the following... [Read the entire article…]

5 Year Nashville Condo Market Analysis

December 13, 2009 by admin · View Comments  

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 the entire article…]

Velocity Condos in Nashville Sales Update

December 10, 2009 by admin · View Comments  

As of the end of November, the Velocity in the Gulch has closed 20 condos out of a possible 265 (7.5%). Granted, the grand opening was just over a month ago, but sales have yet to set any impressive marks. Surprisingly, the average price per square foot still far exceeds $300/ft coming in at $330.58. Date Name Unit Price Sq Ft Price/ft 6/17/2009 Nashville Urban Ventures, LLC 247 $190,400.00 543 $350.64 7/14/2009 P.... [Read the entire article…]

Ireland Street Townhome for Sale $223,900

December 10, 2009 by admin · View Comments  

Priced at only $223,900, this stylish urban 2 bedroom, 2.5 bath townhome with garage offers inspiring skyline views! The Ireland 28 townhomes were built just 5 years ago and feature hardwood floors, upgraded tile, open floor plans, terraces, rear patio, large master bedroom with walk-in closet, stainless steel appliances, modern fixtures, fresh paint, 9ft ceilings and Pella windows. These townhomes... [Read the entire article…]

Tennessee Mortgage Delinquencies and Foreclosures

December 9, 2009 by admin · View Comments  

Mortgage delinquencies and foreclosures were weak in the second quarter. According to Tennessee Housing Market, a publication of MTSU’s Business and Economic Research Center, “The continued weakness in mortgage loans is a consequence of the financial stress Tennessee households are experiencing as unemployment rises and household incomes fall. Mortgages past due in Tennessee rose to 10.33% in... [Read the entire article…]

Mortgage Rates Set Another Record Low

December 7, 2009 by admin · View Comments  

Mortgage interest has fallen to the lowest level since Freddie Mac began compiling its weekly survey in 1971, as the average 30-year fixed rate declined to 4.71 percent last week from 4.78 percent a week earlier. Mortgage rates were also more attractive for 15-year fixed loans, which fell from 4.29 percent to 4.27 percent, but consumers may have difficulties qualifying for these loans as lenders... [Read the entire article…]

The West End Condos Auction Results

December 6, 2009 by admin · View Comments  

John Coleman Hayes successfully sold at least 40 condos in the past 60 hours, 32 of which were sold during Saturday’s live auction. The condo auction, held under a semi-heated tent in the West End’s motor court, was well attended with an estimated 185 potential buyers in attendance. Jerrold Pedigo began the auction promptly at 11:00am by telling auction bidders that 3 condos had sold the prior... [Read the entire article…]