Nashville Real Estate Talk

Home sales in Mt. Juliet rose in January 2010.

Mt. Juliet Homeowners have once again outdone the national Real Estate reports.

While homes around the country were dipping in value, Mt. Juliet saw increase in sales and home prices in January.

In 2009 just 23 homes sold in the Mt. Juliet area.  This year that number increased to 36!  Thats more than 33% Year Over Year (Y-O-Y).

Additionally the average home in Mt. Juliet during january sold for $245,527.  That compares very favorably with the average home sale in 2009 which was just $194,000.

The large difference is attributed to 2009 buyers being mainly ‘first-time” buyers who were spurred on by the government $8000 Tax Rebate.

Here are the actual numbers from the Nashville MLS:

Mt. Juliet Home Sales January 2009

Nashville and Mt. Juliet home buyers are facing tougher qualifying for FHA Loans.

Nashville area home buyers have been using FHA loans at a rapid clip. About 30% of local mortgages are FHA insured loans.
FHA loans allow Mt. Juliet home buyers to buy a home with as little as 3.5% down.  First time home buyers in Mt. Juliet and Nashville use FHA loans almost exclusively.

Now the FHA is changing it’s requirements for home buyers. 

1. In order to qualify for 3.5% down payment, borrowers will need a credit score of at least 580.  Those with lower scores will need to put at least 10% down.

2. Home sellers will be allowed to assist buyers up to a maximum of 3% of the home price.  on a typical Nashville home, selling for $150,000, the seller will be allowed to pay up to $4500 (3%) to the buyers closing costs and no more. Previously sellers could contribute up to 6%.

3. Home buyers putting less than 20% down will be required to pay Private Mortgage Insurance of 2.25% of the loan. That typical Nashville home for $150,000 will need $3,375 added to the loan amount to cover this insurance. Previously this would have cost the home buyer $750 less.

” This adds to the confusion, especially for first time buyers” says Tom Matthews of Home Town Loan in Mt. Juliet, ” but FHA is still the best mortgage available for the majority of young buyers today’s first time buyers.” 

FHA says these new rules will keep them solvent and increase their ability to help buyers. “No one wants to see a taxpayer “bailout” of FHA in these times”,  noted Cathy Wood, Crye-Leike Realtors, Mount Juliet. ” We had over 20 home buyers in Mt. Juliet take advantage of FHA loans in 2009 alone.”

Nashville Home Sales Rise in December after Prices Adjust (edit/delete)

Home Sellers in Nashville saw big gains at year end. In 2008 just 249 homes sold in Nashville during December. This year that number climbed to 285 Homes, a 15% increase!

December 2009 Home Sales Nashville

  The increase in the number of sales was offset slightly by a price adjustment. Nashville Homes sold in December 2009 for about 7% less than they brought in the same month in 2008. So as Nashville Homes become more affordable, they sell more quickly!

December 2008n Home Sales

The Average Price Per Sq. Ft.

In December of 2008 the average price per sq.ft. in Nashville was $122.24. In 2009 that number slipped to $112.44

Whether you’re buying or selling a Home in the Greater Nashville Area, We’re here to provide you accurate Market Research to Help you negotiate when the time is right.

One of the great things about living here in Tennessee is our local farms.

Tennessee Farmers

Tennessee has an active agricultural community committed to providing citizens with healthy & fresh vegetables, fruits, meats, cheeses, organic foods, CSA (Community Supported Agriculture), corn mazes, pumpkin patches and more. 

Check out www.tnfarmfresh.com for a list of farm producers that will sell fresh farm produce direct to home owners.  Buying local also means that you are buying green as local = lower energy input costs.  You can meet the farmer and create a relationship that will develop around trust and integrity for years to come.

  Click on www.tnfarmfresh.com and you will be on your way to providing better, fresher, healthier, local farm produce and products for you and your family while supporting a strong local agriculture.  A key ingredient to making your life in Tennessee richer. 

Gary Rabideau, Realtor/Farmer

Article contributed by Gary Rabideau, Realtor

The latest Harris Poll, released Oct. 5, reveals that Americans consider Tennessee and Nashville among the best places to live!

Nashville Skyline

The Harris Poll named Tennessee # 9 of all states, behind Hawaii, California and Florida.  Nashville was Voted the #12 City for best places to live.

This is not the first time that Nashville has been in the top 15 of the annual report, but it’s good to know we are still in there while many cities like Chicago and Kansas City have dropped off.

Use thios link to read the articale at Harris Polling, http://www.harrisinteractive.com/harris_poll/pubs/Harris_Poll_2009_10_05.pdf

As the owners of NashvilleHomeSearcher.com we see the numbers of people who are looking to move to Tennessee and especially Nashville, every day.   If you live here now, consider how fortunate you are. And if you considering a move, you won’t go wrong with relocating to Nashville, Tennessee.

Classic Ranch Home on walking Street near Cumberland University

This 3 bedroom, 3 bath home is in Lebanon’s classic Greenfield neighborhood, just two blocks from Cumberland University, the public library, Pixie School and shopping.

The neighborhood is famous for walking in the evening.  Homes in Greenfield are priced between $150,000 and $500,000.  The home next door to this one has been appraised for over $300,000.

One of two fireplaces in the home

The home features Hardwood floors throughout, however they have been concealed under carpets.  All the bathrooms have ceramic tile,  The home has over 2,000 sq. ft.  There is a beautiful den with a second fireplace.

Gorgeous second fireplace in den

The home has 3 large bedrooms , all with large closets.  There is a formal dining room as well.

Master suite has private bath

Formal Dining RoomThe home comes with all appliances, as well as a nearly new washer & Dryer.Master suite with private bath

The garage also has a workshopThe view from the back yard

We’re always getting requests from people looking for “At least 5 Acres and a Basement Home”.  We have to tell our clients those homes are hard to find, not the acres, but the basement.

Modern RV Barn includes 3 unused Horse Stalls

Well, here it is.  This 5 Acre Ranch has been remodeled, The kitchen has all new Cabinets and appliances, all rooms have beautiful oak Hardwood floors in mint condition, there are designer colors throughout, a large covered deck on the back of the house and roof is new.

One of two entrances to this Mini Farm

The full basement has a Party room with wet bar, Large Laundry room  and a garage. 

The Huge modern barn has an over-sized RV door, plus two others, almost 40 ft. deep it can accommodate multiple vehicles. The previous owners used one side for stall where they kept 3 horses.

Driveway from the house to the road below

The 5 acres include pasture at the very back and wooded areas with walking trails.

This property is a must see if you are looking for the classic Mini-Farm like so many of the people moving to Tennessee for a better lifestyle.

Master Suite has walk-in closet, fireplace and Hardwood floors

For more info, call Jim & Cathy at 615-347-4424.

Formal dining room, once again with Hardwood floors

Walking and riding trails through the wooded areas

Nashville loves Woodland Point.  Considered the perfect address for today’s busy young professionals, Woodland Point is a gateway to outdoor and urban adventure.  Residents enjoy being minutes from Percy Priest Lake recreation areas, Nashville Airport and of course Downtown Nashville.

Woodland Point backs up to the Percy Priest Wildlife area and there are walking trails down to the lake.  Hunting is prohibited but with a license homeowners can fish in the clear waters of the lake.

Nearby the Elm Creek Marina is available for boating and canoeing.  There is a BMX park for more adventurous types and the Shelby Bottom Greenway starts just down the road and runs along the beautiful Harpeth river all the way to Shelby Park in east Nashville.

One of two Master Suites

You would never guess that this gorgeous Townhome is 5 years old! the Cathedral entrance gives way to Living areas with large eat-in Kitchen, 1/2 bath for visitors and a spacious patio with lots of morning light.  Upstairs you’ll find two suite style bedrooms with private baths and the home also has a 1 car garage.

This home is available for 3.5% downpayment through FHA and the sellers will help with closing costs! Interested? call Jim or Cathy at 615-347-4424.

Front Foyer

Private Patio for Grillin' & Chillin'

Living Area

Berkley Manor, Hickory Knoll features 2949 Sq. Ft. for just $250,750

Hickory Knoll in Lebanon has announced a new series of homes designed to bring affordable large homes to middle income families.  Edsel Charles of Market Graphics in Nashville, announced the new homes yesterday at a meeting for area Realtors here in Lebanon.

Designed to provide new 2000+ sq.ft. homes at less than $80 per sq. ft., Charles said, “These homes have all the amenities in Kitchens, Floor Plans, even side entry garages”.

 The Oak Knoll neighborhood along Hickory Ridge in Lebanon will be the home of these new homes and Hometown Builders of Lebanon will be the builders.  The homes are designed in Atlanta and are already being built in other communities around the country.

“Imagine 2900 Sq. Ft. for less than $250,000!”, said Charles.  On hand were Darrell Tidwell and Doug Dockins of Hometown Builders, LLC.

The homes are being built to order and buyers can place orders now for delivery in late fall of this year.

“Designed by one of America’s leading Architects, this series of homes have the hardwood floors, the openness and the features that are common to homes costing $120 to $130 per sq. ft.”

For more information on the exciting new home designs in Hickory Knoll, call us at 615-347-4424.

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CNN Money has named the community of La Vergne as being among the most affordable cities in the United States.

La Vergne City Hall

CNN noted the median home price of just $127,000 and the low median property tax of just $1,265.

Median income for the La Vergne community was $68,590.

Tennessee’s lack of an income tax was another reason for for the status of Most Affordable.

You can read the entire article here:

http://money.cnn.com/galleries/2008/moneymag/0807/gallery.bplive_affhomes.moneymag/23.html

To see homes for sale in La Vergne go to:

www.NashvilleHomeSearcher.com