Market News
New Construction Homes are Smaller
January 21, 2009 by admin · 1 Comment
According to USA TODAY, the “American Dream is shrinking.” Understandably, new construction is at a low ebb, if not an all-time low. Nevertheless, according to a recent article (“New homes being built smaller”), those homes that are being built in this sluggish economy are considerably smaller than in years past: For the first time in at least a decade, builders are substantially reducing... [Read the entire article…]
Home Prices Slide in Nashville Area
January 11, 2009 by admin · Leave a Comment
Written by Chas Sisk, December’s median is lowest since 2004, The Tennessean: Home prices dropped sharply in December – back to levels last seen before the real estate boom – as the Nashville housing market wrapped up its weakest year in a decade. The median price of a single-family home sold last month dropped 13% compared with the same month a year ago, and the price of a condo... [Read the entire article…]
Home Sales for Nashville, TN – December 2008
January 8, 2009 by admin · Leave a Comment
There were 1,422 closings during the month of December, which represents a 32.5% decrease form the 2,109 closings in the same period last year. Fourth quarter closings were 4,413, down 35.6% compared to 6,856 closing in the fourth quarter of 2007. And, the year ended with 24,246 total closings, down 29% from the 34,221 closing during all of 2007. The median price for a Nashville home in December was... [Read the entire article…]
Fewer Families Relocated in 2008
December 25, 2008 by admin · 1 Comment
RISMeadia states: Data from the U.S. Census Bureau indicates that only 12% of Americans changed residences in 2008 and 13% the prior year, down from over 20% mobility per year from the 1950s to the mid-1960s. A poll by the Pew Research Center shows that 60% of Americans have moved one or more times. However, over 33% remain in their hometowns, and 57% have stayed in their state of origin. Of those... [Read the entire article…]
November Report: Home Sales For Nashville
December 9, 2008 by admin · Leave a Comment
According to the Greater Nashville Association of Realtors: There were 1,243 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 45% from the 2,260 closings reported for the same period last year. And, there were 22,824 closings year-to-date in 2008. That is a 29% decrease compared to the 32,112... [Read the entire article…]
Remarkable Homes Predicts Residential Real Estate Future
December 5, 2008 by admin · 1 Comment
In response to how popular my post regarding the 12 bold predictions for the 2009 Nashville real estate market was with my readers, I have been asked to pontificate on when rest of the US markets might turn around. We’ll, I have taken your requests to heart and dove into a huge number of publications, predictions and have only been able to conclude the following: #1: What a mess – I mean... [Read the entire article…]
Tennessee Has Two Real Estate “Safe Havens”!
December 3, 2008 by admin · Leave a Comment
A recent article on Kiplinger’s website profiles six cities across the U.S., described as “safe havens in real estate” – pockets where the damage from foreclosures and a sagging real estate economy “has been minimal – if nonexistent.” Two of the six cities profiled are Tennessee’s own Clarksville and Johnson City. (Other cities completing the list are: Pittsburgh, PA; Burlington,... [Read the entire article…]
Top 10 Home Remodeling Paybacks
December 1, 2008 by admin · Leave a Comment
The new 2008-2009 Cost vs. Value Report has just been released and the results are eye opening. Remodeling magazine produces the Cost vs. Value Report each year in cooperation with Realtor magazine. Realtors responding to a survey in midsummer said home owners could expect to recoup a national average of 67.3% of their investment on 30 different home improvement projects. At the height of the housing... [Read the entire article…]
12 Nashville Real Estate Predictions for 2009
November 27, 2008 by admin · 1 Comment
One of the many tasks my clients expect me to be able to do is to predict what is going to happen with home prices, appraisal values, and time on the market. I only wish that I had a crystal ball to be able to advise them 100% accurately, but unfortunately, that tool does not exist. However, I would like to take a crack at predicting the 2009 real estate market in Nashville based upon aggregated information... [Read the entire article…]
Williamson County Homes Inventory
November 24, 2008 by admin · 2 Comments
In a recent article, the Tennessean reported the following market absorption rates for homes in Williamson County: “In Williamson County, the $1 million-and-up price range had enough inventory to last 30.9 months, compared with 18.4 months of inventory in the $800,000 to $999,999 range and 11.7 months of inventory in the $600,000 to $799,999 range.” The good news is that the inventory of... [Read the entire article…]
Yours Truely Featured in The Tennessean Newspaper
July 14, 2008 by admin · Leave a Comment
Business column: Housing slump pushes prices down in Middle Tennessee suburbsAppeared in The Tennessean on July 14, 2008, written by Chas Sisk:“Home sellers from New England to Southern California have been slashing prices this year, and many people have held that before long, local homeowners would capitulate as well. New data from the Greater Nashville Association of Realtors seemed to prove... [Read the entire article…]
Metro Council agrees to Fund Convention Center
February 6, 2008 by admin · 2 Comments
The new Nashville convention center is one step closer to reality as the Metro Council agrees to fund all predevelopment activities required to build the center. Funding for the predevelopment work will be limited to the money brought in by revenue sources already in place for the project. Metro Finance Director Rich Riebeling said about $1.4 million is coming in each month from those taxes and fees,... [Read the entire article…]
Grant Hammond, Broker, ABR, SFR, ePRO is a multiple award winning real estate broker and owner of Metropolitan Brokers, LLC in Nashville, TN. With career sales exceeding $285 million, Hammond places in the top 5% of real estate brokers nationally. Hammond is well known for exemplary personal service, consummate professionalism and a resolute commitment to his clients in the pursuit of fulfilling their real estate goals. Having represented more than 100 individual clients in just the past 3 years, he has the expertise, market knowledge and skill to understand the full scope of his clients' requirements - business and personal – to design a successful plan with every aspect in mind. 
