Nashville Mortgage Rates at Lowest Level in Five Weeks

November 17, 2009 by admin · Leave a Comment 

The 30-year fixed mortgage rate fell to 4.91 percent for the week ended Nov. 12, , down from an average of 4.98 percent a week earlier, and has now been below 5 percent for five of the last seven weeks, reports Freddie Mac. Also, 15-year fixed loans fell to 4.36 percent from 4.40 percent; five-year [...]

Is Crye-Leike The Next Company to Fold?

June 12, 2009 by admin · Leave a Comment 

Not likely. This appears to be an isolated case where Harold Crye happens to be the defendant. Although, I have spoken with a few people close to the situation who are quick to point out that Mr. Crye did build quite a few commercial developments over the past decade and that his commercial real estate [...]

NAR Believes Real Estate Slump Ending

May 14, 2009 by admin · Leave a Comment 

A couple of weeks ago, I referenced a cautiously optimistic outlook on the economy (”Real Estate Slump End in Sight?”) by NAR’s former Chief Economist John Tuccillo. At the end of last week, John Tuccillosounded even more positive: “Real estate professionals who are in this for the long haul are back in business in a [...]

Real Estate Slump End in Sight?

May 1, 2009 by admin · 7 Comments 

It’s the 10 trillion dollar question and there are quite a few opinions: Over this past weekend, former NAR Chief Economist John Tuccillo posted a weblog entry (“Is the End in Sight?”) with a good analysis of several factors in the current economy and housing market. He seems generally hopeful. Here is one of his [...]

The Terrazzo Gains Commercial Office Tenant

April 15, 2009 by admin · 3 Comments 

This article entitled “BB&T makes moves to Terrazo in Gulch” appeared in the Nashville Business Journal on April the 13th, 2009. A staff writer wrote: “BB&T has moved its commercial lending and wealth management operations from Belle Meade to the Terrazzo in the Gulch. BB&T signed the lease for space in the $68 million mixed-use [...]

Landmark Commercial Real Estate Sold Cheap

April 2, 2009 by admin · 8 Comments 

This article entitled “Is the Distressed Sale Price of Boston’s Hancock Tower a Harbinger of Things to Come?” appeared on the National Real Estate Investor website on April the 1st, 2009. Sibley Fleming wrote: “From a seller’s perspective, the sale price of Boston’s iconic John Hancock Tower yesterday was anything but positive. The 60-story building, [...]

Nashville Mortgage Rates Fall

February 19, 2009 by admin · Leave a Comment 

A dip in the long-term mortgage rate offered homeowners a refinancing opportunity, according to Freddie Mac, which said average interest on 30-year fixed loans fell to 5.16% from 5.25% last week. Interest on 15-year fixed loans also declined, slipping to 4.81% from 4.92%.   It would be naive of us to predict Nashville home sales [...]

Mortgage Rates Fall Again, Now VERY Low

December 10, 2008 by admin · Leave a Comment 

Freddie Mac’s Primary Mortgage Market Survey showed that the 30-year fixed-rate mortgage (FRM) averaged 5.53% with an average 0.7 point for the week ending December 3, 2008, down from the prior week when it averaged 5.97%. Last year at this time, the 30-year FRM averaged 5.96%. The 30-year FRM has not been lower since January [...]

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 [...]

Mortgage Rates Absolutely Plunge

November 26, 2008 by admin · 1 Comment 

In what was the largest 1 day drop in more than seven years, the average mortgage rate for a 30-year fixed mortgage fell to about 5.50% last night after starting the day at 6.38%. According to Bloomberg.com: “The central bank pledged to purchase up to $500 billion in so-called agency debt as well as up [...]

Commercial Real Estate and Relief

November 21, 2008 by admin · Leave a Comment 

The “NAR released a statement this week regarding the Commercial Leading Indicator, a tool that assesses market behavior in thirteen major commercial real estate sectors. Lawrence Yun, NAR Chief Economist, said all components of the CLI were down with the exception of personal income, but he commented about an encouraging possibility – that the Treasury [...]

Nashville Mortgage Rates Jump Significantly!

October 21, 2008 by admin · Leave a Comment 

Freddie Mac reports that the 30-year fixed mortgage rate rose to 6.46% during the week ended Oct. 16 from 5.94% the prior week, marking an eight-week high. The 15-year fixed mortgage rate climbed to 6.14% from 5.63% over the same period. The report indicates that lenders remain skittish, and more borrowers will find it difficult [...]