Pending and Sold Information
If you are actively researching your next home and would like to have more information about the current state of the market then we can provide you with all the information direct from the MLS database of active, pending and sold listings.
In addition, if you provide us with a property that you would like to research further in terms of it's time on the market, pricing comparable to similar properties on the market and any homes that have sold we can update you on a daily basis.
As the current real estate market stays in this state of flux it becomes more important to aquire as much information about the homes your are interested in and let us help with your research into the comparable values of the other homes in the neighborhoods.
The past year has seen the market price correction for homes in Nashville and in some cases the list prices have fallen back to the 2006 listing prices.
As foreclosures and short sales continue to create a downward pressure on the value of homes the list prices continue to slowly fall. Even homes that have shown a lot of interest from buyers are not being bought which creates a situation where the listing realtor will show the sellers that with the recent sales in the area thier house is now over priced. As a result the sellers will reduce the list price of their home and hopefully bring it into line with the new comparables.
The problem here is that as the list prices drop, so do the comparables for the short sales and foreclosures and this means that they will now sell be low the current market price. This in turns creates even more downward pressure on the listing prices and as a consquence starts the whole pernicious cycle of list price reduction.
The buying public are also poised to buy when the time is right. That time is something that no one clearly can predict but with the new President, the potential of economic stimulus packages, the promise of lower interest rates and the unknown bottom of the market has continued to delay the house buying public to "pull the trigger".
The end result of the falsely create lack of demand is to add to the downward pressure on the listing prices and eventually we will get to a point where the banks, the sellers and the financial institutions as a whole say...we can't go any lower. This is when the buyers will realize that the time is now to buy and slowly the sales figures will start to filter back to the realtors that the new land rush of 2009 has begun. As demand is shown to rise so will the existing supply be used up and in these cases simple economics dictates that the asking price will start to rise! Now we are back in a sellers market and the value of homes will rise again.
If you would like more information about this service please contact me using the form below and use the comments box to describe the area, price range, and other details of the home you are looking to research. We can then provide you with market driven updates with any new listings, priced reductions, pendings and sold information.
Pending and Sold Information Request Form
