Comments on: October 2009 Nashville Real Estate Market Analysis http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/ Grant Hammond, Broker, ABR, SFR, Multiple Award Winning Broker Fri, 10 Feb 2012 21:18:35 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Buyers: We work for FREE!! | Nashville Real Estate http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-952 Buyers: We work for FREE!! | Nashville Real Estate Wed, 05 May 2010 19:19:48 +0000 http://www.granthammond.com/?p=2185#comment-952 [...] you are considering buying or selling Nashville Real Estate you need a top Realtor in Nashville!! Be sure to give Grant a call with any questions that you may [...] [...] you are considering buying or selling Nashville Real Estate you need a top Realtor in Nashville!! Be sure to give Grant a call with any questions that you may [...]

]]> By: Fixed Mortgage Rates Fall to Record Lows | Nashville Real Estate http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-634 Fixed Mortgage Rates Fall to Record Lows | Nashville Real Estate Tue, 01 Dec 2009 19:26:48 +0000 http://www.granthammond.com/?p=2185#comment-634 [...] “Nashville house prices are slowly beginning to firm now. For instance, annual house price declines slowed for the sixth consecutive month in September, down only 3 percent, and represented the smallest decline since February 2008, according the Federal Housing Finance Agency’s purchase-only house price index.” Share and Enjoy: [...] [...] “Nashville house prices are slowly beginning to firm now. For instance, annual house price declines slowed for the sixth consecutive month in September, down only 3 percent, and represented the smallest decline since February 2008, according the Federal Housing Finance Agency’s purchase-only house price index.” Share and Enjoy: [...]

]]> By: Advice for Nashville Condo Buyers | Nashville Real Estate http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-538 Advice for Nashville Condo Buyers | Nashville Real Estate Tue, 17 Nov 2009 00:19:30 +0000 http://www.granthammond.com/?p=2185#comment-538 [...] a finite number of condos that will exist in downtown Nashville for at least 5 years. Should our inventory absorption continue at the past 6 month’s pace, it is reasonable to assume that a developer will begin [...] [...] a finite number of condos that will exist in downtown Nashville for at least 5 years. Should our inventory absorption continue at the past 6 month’s pace, it is reasonable to assume that a developer will begin [...]

]]> By: aynrand2009 http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-712 aynrand2009 Fri, 13 Nov 2009 07:58:11 +0000 http://www.granthammond.com/?p=2185#comment-712 When the Terrazzo auction was first announced, the Tennessean reported an investor had bought a one-bedroom unit, preconstruction, for $373,000. (Actually, the paper reported this investor had bought three units, but the prices of the other two units were not disclosed.) The West End units are far larger and more traditional than Terrazzo (and, depending on your taste, more upscale), but your point is well taken: the prices developers have been charging, and in some cases getting, far exceed the FMV of these properties. When the Terrazzo auction was first announced, the Tennessean reported an investor had bought a one-bedroom unit, preconstruction, for $373,000. (Actually, the paper reported this investor had bought three units, but the prices of the other two units were not disclosed.) The West End units are far larger and more traditional than Terrazzo (and, depending on your taste, more upscale), but your point is well taken: the prices developers have been charging, and in some cases getting, far exceed the FMV of these properties.

]]> By: Devils Advocate http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-711 Devils Advocate Fri, 13 Nov 2009 07:08:35 +0000 http://www.granthammond.com/?p=2185#comment-711 Doesnt sound like its the same market as the Terrazzo with prices like that. The LOW was $385k? No wonder they can't sell them. Doesnt sound like its the same market as the Terrazzo with prices like that. The LOW was $385k? No wonder they can't sell them.

]]> By: aynrand2009 http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-710 aynrand2009 Fri, 13 Nov 2009 03:51:17 +0000 http://www.granthammond.com/?p=2185#comment-710 This shocker today (11/12/2009) in the online Nashville Business Journal:<br><br>"Even more condo units will soon be sold at auction.<br><br>Forty-five units at John Coleman Hayes' The West End Luxury Condominiums will be sold at auction Dec. 5.<br><br>The condo tower, located at West End and 31st Avenue, features 72 units. Since opening in April 2008, five have sold.<br><br>Current list prices for the units range from $385,000 to $948,000. The auction will include five one-bedroom units, 25 two-bedroom units and 15 three-bedroom units.<br><br>The average square footage of offered units is 2,100 square feet."<br><br>This ought to result in even lower bids at Terrazzo's auction on 11/21/2009, don't you think? With 75 high-quality condos being auctioned over the next three weeks, who in their right mind would pay what the developers of Velocity and Icon are currently charging? It looks like buyers who bought early on into these projects, as well as Terrazzo, got burned badly. Five sales in 18 months is simply astounding. This shocker today (11/12/2009) in the online Nashville Business Journal:

“Even more condo units will soon be sold at auction.

Forty-five units at John Coleman Hayes' The West End Luxury Condominiums will be sold at auction Dec. 5.

The condo tower, located at West End and 31st Avenue, features 72 units. Since opening in April 2008, five have sold.

Current list prices for the units range from $385,000 to $948,000. The auction will include five one-bedroom units, 25 two-bedroom units and 15 three-bedroom units.

The average square footage of offered units is 2,100 square feet.”

This ought to result in even lower bids at Terrazzo's auction on 11/21/2009, don't you think? With 75 high-quality condos being auctioned over the next three weeks, who in their right mind would pay what the developers of Velocity and Icon are currently charging? It looks like buyers who bought early on into these projects, as well as Terrazzo, got burned badly. Five sales in 18 months is simply astounding.

]]> By: aynrand2009 http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-521 aynrand2009 Fri, 13 Nov 2009 01:58:11 +0000 http://www.granthammond.com/?p=2185#comment-521 When the Terrazzo auction was first announced, the Tennessean reported an investor had bought a one-bedroom unit, preconstruction, for $373,000. (Actually, the paper reported this investor had bought three units, but the prices of the other two units were not disclosed.) The West End units are far larger and more traditional than Terrazzo (and, depending on your taste, more upscale), but your point is well taken: the prices developers have been charging, and in some cases getting, far exceed the FMV of these properties. When the Terrazzo auction was first announced, the Tennessean reported an investor had bought a one-bedroom unit, preconstruction, for $373,000. (Actually, the paper reported this investor had bought three units, but the prices of the other two units were not disclosed.) The West End units are far larger and more traditional than Terrazzo (and, depending on your taste, more upscale), but your point is well taken: the prices developers have been charging, and in some cases getting, far exceed the FMV of these properties.

]]> By: Devils Advocate http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-519 Devils Advocate Fri, 13 Nov 2009 01:08:35 +0000 http://www.granthammond.com/?p=2185#comment-519 Doesnt sound like its the same market as the Terrazzo with prices like that. The LOW was $385k? No wonder they can't sell them. Doesnt sound like its the same market as the Terrazzo with prices like that. The LOW was $385k? No wonder they can't sell them.

]]> By: aynrand2009 http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-516 aynrand2009 Thu, 12 Nov 2009 21:51:17 +0000 http://www.granthammond.com/?p=2185#comment-516 This shocker today (11/12/2009) in the online Nashville Business Journal:<br><br>"Even more condo units will soon be sold at auction.<br><br>Forty-five units at John Coleman Hayes' The West End Luxury Condominiums will be sold at auction Dec. 5.<br><br>The condo tower, located at West End and 31st Avenue, features 72 units. Since opening in April 2008, five have sold.<br><br>Current list prices for the units range from $385,000 to $948,000. The auction will include five one-bedroom units, 25 two-bedroom units and 15 three-bedroom units.<br><br>The average square footage of offered units is 2,100 square feet."<br><br>This ought to result in even lower bids at Terrazzo's auction on 11/21/2009, don't you think? With 75 high-quality condos being auctioned over the next three weeks, who in their right mind would pay what the developers of Velocity and Icon are currently charging? It looks like buyers who bought early on into these projects, as well as Terrazzo, got burned badly. Five sales in 18 months is simply astounding. This shocker today (11/12/2009) in the online Nashville Business Journal:

“Even more condo units will soon be sold at auction.

Forty-five units at John Coleman Hayes' The West End Luxury Condominiums will be sold at auction Dec. 5.

The condo tower, located at West End and 31st Avenue, features 72 units. Since opening in April 2008, five have sold.

Current list prices for the units range from $385,000 to $948,000. The auction will include five one-bedroom units, 25 two-bedroom units and 15 three-bedroom units.

The average square footage of offered units is 2,100 square feet.”

This ought to result in even lower bids at Terrazzo's auction on 11/21/2009, don't you think? With 75 high-quality condos being auctioned over the next three weeks, who in their right mind would pay what the developers of Velocity and Icon are currently charging? It looks like buyers who bought early on into these projects, as well as Terrazzo, got burned badly. Five sales in 18 months is simply astounding.

]]> By: Tweets that mention October 2009 Nashville Real Estate Market Analysis | Nashville Real Estate -- Topsy.com http://www.granthammond.com/2009/homes/october-2009-nashville-real-estate-market-analysis/comment-page-1/#comment-514 Tweets that mention October 2009 Nashville Real Estate Market Analysis | Nashville Real Estate -- Topsy.com Thu, 12 Nov 2009 14:56:42 +0000 http://www.granthammond.com/?p=2185#comment-514 [...] This post was mentioned on Twitter by RoyceMedia, Timothy A. Crane. Timothy A. Crane said: October 2009 Nashville Real Estate Market Analysis | Nashville ... http://tinyurl.com/y9fwup4 [...] [...] This post was mentioned on Twitter by RoyceMedia, Timothy A. Crane. Timothy A. Crane said: October 2009 Nashville Real Estate Market Analysis | Nashville … http://tinyurl.com/y9fwup4 [...]

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