It baffles me why this 2 bedroom, 2 bath, 1,585 square foot loft at Werthan Mills has not sold.
First, it is a foreclosure. Second, it is priced at the LOWEST price recorded in Werthan Mills in the past half decade, $126.12/ft. The average price over the past 2 years has been $161.88/ft with the median price being $172.52/ft. That puts the current market value of this loft between $256,580 and $273,444. Third, this loft originally sold for $329,375 on 5-2-2006 and then resold for $350,000 on 2-27-2007. This tells me that when Nashville’s real estate market recovers in a few years, this loft is an easy sale at $299,000. Fourth, even Metro Nashville believes this loft is valuable, they have it appraised for $344,900. Fifth, the loft has a massive wall of windows on the courtyard that orients to the south for incredible light, especially for a loft. Sixth, 18 foot ceilings. Need I say more??