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 [...]
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 [...]
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 [...]
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 [...]
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. [...]
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 [...]
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 [...]
Ireland Street Townhome for Sale $229,900
December 10, 2009 by admin · View Comments
Priced at only $229,900, 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 [...]
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% [...]
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.
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