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 [...]

Senate Debates Extending First Time Buyer Credit

October 29, 2009 by admin · 3 Comments 

Bloomberg.com reports that the Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market. Senate Democrats have announced plans to extend the credit until April 30, 2010, while expanding it to include higher-income Americans and some who already own homes. Senate Finance Committee Chairman Max [...]

August 2009 Nashville Real Estate Market Analysis

September 11, 2009 by admin · 6 Comments 

The Middle Tennessee MLS (Realtracs) just released August 2009 stats. The following graph and analysis are based upon the residential single family homes and condos market only. As you may recall in July, closings and prices increased while total inventory was on the fall. Did August continue to buck the national trend or is it time for [...]

Nashville Real Estate Market Analysis – July 2009

August 28, 2009 by admin · 2 Comments 

The Middle Tennessee MLS (Realtracs) just released July 2009 stats. The following graph and analysis are based upon the residential single family homes and condos market. As you may recall in June, closings dramatically increased over May’s numbers. Did July continue to make an impression? Total Inventory (Okay, Getting Better) Inventory levels continued to slightly [...]

Existing Home sales up 7% in July

August 22, 2009 by admin · 1 Comment 

Nationwide existing home sales rose 7.2 percent in July - the first time in five years sales have increased 4 consecutive months and the first time in a decade the month over month gain was over 6 percent, according to a report released Friday. In addition, Nashville has experienced positive price appreciation for 3 consecutive months. The [...]

Nashville Real Estate Market Report for June 2009

August 10, 2009 by admin · 9 Comments 

The Middle Tennessee MLS (Realtracs) just released June 2009 stats. The following graph and analysis are based upon the residential single family homes and condos market. As you may recall in May, closings were up over 80% from January. Did June continue at this break neck pace?   Total Inventory (Good, Getting Better) Inventory levels dropped slightly in [...]

Whetstone Subdivision in Brentwood Foreclosed

July 14, 2009 by admin · 3 Comments 

  This article entitled “Brentwood’s Whetstone falls in foreclosure” appeared in the Nashville Business Journal on July the 14th, 2009. The author is Jenny Burns:   “A Brentwood housing development with million-dollar homes, Whetstone, is in foreclosure. Developers say this is the first major development in Brentwood to go into foreclosure during the current recession, [...]

Real Estate Market Boosted by First Time Buyers

May 6, 2009 by admin · 2 Comments 

The National Association of REALTORS (NAR) says over 50 percent of March’s home sales were tied to first-time buyers, many of whom snapped up foreclosed homes and other distressed properties. Experts believe getting first-time buyers off the sidelines to take advantage of historically low interest rates and federal tax credits will reduce the glut of [...]

Nationally Pending Home Sales Are Up

April 23, 2009 by admin · Leave a Comment 

From NAR’s Research Division this past week: “Pending home sales have edged up, hinting at a possible pickup of sales activity in coming months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 [...]

Mortgage Rates Hits New Record Low

April 7, 2009 by admin · 1 Comment 

Freddie Mac reports that rates on 30-year mortgages fell to the lowest level on record for the second consecutive week. This week, average rates on 30-year fixed-rate mortgages declined to 4.78 percent, down from 4.85 percent a week ago. Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says [...]

Nashville Mortgage Rates Hit Record Low

April 2, 2009 by admin · 2 Comments 

With the Federal Reserve planning to purchase another $750 billion in mortgage-backed securities and up to $300 million in Treasuries, Freddie Mac reports a drop in long-term mortgage rates. The average interest on a 30-year loan fell to a 38-year low of 4.85 percent during the week ended March 26 from 4.98 percent the prior [...]

Nashville Real Estate Market Report | February 2009

March 19, 2009 by admin · Leave a Comment 

There were 1,267 home closings reported for the month of February, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 33 percent from the 1,892 closings reported for the same period last year. There were 1,452 sales pending at the end of the month, compared with 2,183 pending [...]