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Nashville Real Estate Closings Up, Pendings Fall

June 10, 2010 by admin · 1 Comment  

If you were one of those drum beating, forever optimistic, ‘buy now or miss the deal of a lifetime’ type of real estate agents, this is what you might spin this month: Nashville home sales up an astounding 25.8 percent in May. You may also write: Year-to-date Nashville closings are up 20.4 percent through the same period last year. Don’t wait to buy, you’ll miss the best deals. Of course, you... [Read the entire article…]

Multi-Million Dollar Short Sale in Brentwood

June 10, 2010 by admin · Leave a Comment  

This is clearly a phrase we have not become all that accustomed with in Brentwood, Tennessee. Nonetheless, it is a phrase that we must utter occasionally when describing brand new homes which have had difficulty in selling to a new owner. Even impeccably constructed, designed and located mansions like this one in the Annandale subdivision. I am not advocating that this particular Brentwood mansion... [Read the entire article…]

Is Walking Away from your Mortgage Smart?

May 28, 2010 by admin · 1 Comment  

According to CNN Money, “Some homeowners, no doubt, believe that the credit score hit is worth getting out from a deeply underwater mortgage. They may owe, say, $500,000 when their house value is only valued at $350,000. And, they figure, there’s no way it will ever be worth what they owe so it’s better to get out from underneath the burden. After default, they reason, they can raise... [Read the entire article…]

Proving a Housing Price Increase in Nashville

May 20, 2010 by admin · Leave a Comment  

A very astute investor once told me that if I attempted to micro analyze the real estate market based upon short-term data, I would most likely be missing the soul of that market. Yes, I had the ability to make profitable short-term decisions, but I would lack the true understanding of why my short-term decisions were valid. It is this soul of the market that allows one to make accurate predictions... [Read the entire article…]

April 2010 Nashville Real Estate Market Analysis

May 18, 2010 by admin · 8 Comments  

The Middle Tennessee MLS (Realtracs) has reported April 2010 housing statistics. The following graphs and analysis are based on the greater Nashville residential single family homes and condos market only. Note: on April 30, the federal housing tax credit for first-time home buyers culminated giving rise to purchases that may have occurred later in the housing cycle. Total Inventory (Okay, Increasing) Inventory... [Read the entire article…]

When to Reappraise a Home in a Flooded Neighborhood

May 6, 2010 by admin · 1 Comment  

I must admit that this is the first time I have fielded an emailed question having to do with such a widespread natural disaster. The question is a very good one and I thought it best to share the conversation on my blog as many of you in Nashville may be experiencing the same situation. I have changed the name of the actual customer with a fictional name in order to protect their identity. Kim: I... [Read the entire article…]

What Happens to the Nashville Market Post Flood?

May 4, 2010 by admin · 13 Comments  

If the flooding caused by Hurricane Katrina in New Orleans was any indication, Nashville real estate prices will rise in the coming months. I realize that this statement may appear counterintuitive in the wake of such devastation, but the underlying fundamentals of a capital market remain unaffected, the simple laws of supply and demand dictate a housing shortage on the horizon. According to the Brookings... [Read the entire article…]

So You’re an All Cash Buyer? So Friggin What!

April 30, 2010 by admin · 2 Comments  

Not what you expected to read on my blog, is it? I know that this statement may seem a little counterintuitive, but I feel as though there is a misunderstanding in the residential housing market that needs to be addressed. As buyers, we have been conditioned to believe that cash is king and by offering a seller all cash, we will secure a discount. We have also been conditioned to assume that most current... [Read the entire article…]

Encore Condo Developers Pay off Construction Loan

April 15, 2010 by admin · 8 Comments  

In an update to my September 25th, 2009 article about the Encore Condos, I am pleased to tell you that the developers of The Encore have paid off their $63 million construction loan obligation. Led by local developer Tony Giarratana, the Encore has sold remarkably well during what many consider to be recessionary times in the national condo market. The Encore is the first high-rise to accomplish this... [Read the entire article…]

5th and Main Condos Boot Renters Out

April 13, 2010 by admin · 18 Comments  

In the wake of the project losing FHA certification, the lender is quietly booting ‘lease purchasers’ out of the building who have no intention of consummating a purchase. Why? It’s simple. Under HUD’s revised rules, a condo development must be at least 50% owner occupied in addition to at least 30% sold or under contract in order to attain FHA certification. A ‘lease purchase’ is not deemed... [Read the entire article…]

Nashville Condo Prices

April 12, 2010 by admin · 9 Comments  

Most of you know that I keep a keen eye on the Nashville condo market and prices, but many of you don’t realize how much in-depth research I do. It is also interesting to learn that many buyers assume that the Velocity in the Gulch is the least expensive condo development in Nashville, but that is only true if you are looking at total price. A more interesting view is which condo developments offer... [Read the entire article…]

Real Estate Tax Credit Causes Nashville Homes Sales to Soar

April 9, 2010 by admin · 9 Comments  

Most real estate professionals would agree that the extended first-time home buyer credit has led to an increased level of purchase activity in Nashville. However, most tend to also believe that this activity has led us to a point when you can call the Nashville real estate market ‘recovered’. I can see why you may feel that way considering the combined optimism of a better than last Spring selling... [Read the entire article…]