Nashville Real Estate Talk

Mt. Juliet High School Earns Statewide Honors

Principal Mel Brown

This week Mt. Juliet High School was honored by the State Collaborative on Reforming Education (SCORE), as a school that has dramatically improved student achievement. Mt. Juliet competed against al l High Schools in Tennessee to win this honor.

Mount Juliet Tennessee

SCORE is a nonprofit organization. The Chairmen of SCORE is Bill Frist, former Majority leader of the U.S. Senate.

Mt. Juliet High School Principal Mel Brown was presented an award in the amount of $10,000 for use by the school to further improve it’s achievements.

Education is taken very seriously in Mt. Juliet, this award is further proof that the people of Mt. Juliet were forward thinking when they built the new high school over the last 3 years.

If you are thinking about a place to live and raise a family, Mt. Juliet is a good one.

Search for homes in Mt. Juliet

Nashville Home Buyer Appointments For August Maintain Momementum

As many of you know we track the number of appointments made to view homes for sale in the Nashville area.  Over the last few years this has proven to be a very good predictor of home sales activity.

After declining for 14 months Nashville home buyer appointments rose this summer and of course so have home sales.  In August home buyers made appointments to see listings at a rate 20% higher than August 2010.  Although this is still below the 2009 numbers it means that for the fourth consecutive month home buyer activity exceeded 2010.

Nashville Home Buyer Appointments August 2010

Senior Economist Sees Nashville Home Prices Stabilizing

Dr. Frank Nothaft, Vice-President and Senior Economist for mortgage giant, Freddie Mac,

viisted Nashville on Thursday last and spoke with local realtors including Jim and Cathy Wood.

Chief Economist Likes Nashville's real Estate Future

Dr. Nothaft said he expects Nashville Real Estate prices to stabilize over the next several month.

‘Nashville has seen a 10-13% drop in home prices while the rest of the country has seen a 30% price adjustment. More importantly Nashville  Home prices are stabilizing and will rebound slightly in 2012.”

The economist further noted: ” I would put the chances of a Double Dip Recession at about 1 in 3″.

In regard to the future of housing prices in Nashville he said we should expect to see about 1% increase in Nashville home prices in 2012 and a long slow climb up from there.

The main drag on the home market has been the excess of “vacant” homes.  Dr. Nothaft put that excess at about 600,000 homes nationwide, down from a high 2 years ago of 1 million excess vacant homes.

Charting those vacant homes produces a curve that exactly matches the nationwide home market.

Locally Realtors were bouyed by a very satisfying spurt of sales in August. We had predicted that based on the strong showing of Home Buyer Appointments for June and July.  For the first time in 14 months those home showings had risen above the 2010 figures.

To see the Home Buyer Appointment for August click on this Link:

August 2011 Nashville Appointment Numbers.

Dr. Nothaft noted that the main game changer in Housing is unemployment.  55% of all mortgage delinquencies come from unemployment.  Add to that figure, family trouble (divorce) and secondary loans ( Credit Cards) and you have 85% of the reasons for default on american mortgages.

Nashville home buyers should take away from Dr. Nothaft that housing prices may be at the bottom now. Nashville area home sellers should note that they “may” realize a 1 %  price appreciation over the next 12 months.

For additional information on this meeting and the Nashville Real Estate Market- Email Jim@Jimwood.net