Nashville Real Estate Blog - Blog Archive: January, 2010

information relating to real estate in Nashville Tennessee

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January 2010

Found 9 blog entries for January 2010.

 

This just in from NPR news alerts.


"U.S. Economy Up 5.7 Percent In 4th Quarter

The gross domestic product grew at its fastest pace in 6 years. This was the second straight quarter of growth."

Source NPR

It seems that the roller coaster recovery signs are still coming in but it also is becoming more apparent that the recovery is underway and that more and more buyers are coming back to the Nashville real estate market. The tax incentive will end April 30 and the influence is being felt strongly in Nashville. It will be interesting to see what happens after the incentive finishes but this is really being seen as the fire that will fuel the growth of the rest of the sales in the national real estate market.

 

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Just in from CNN!

U.S. Senate votes 70-30 to confirm a second term for Federal Reserve Chairman Ben Bernanke.

Lets hope we can keep the interest rates down and keep the interest in the real estate market growing.

The number of registrations we are seeing at our site is definitely a very good indication that buyers are actively seeking homes in Nashville. This should be seen in the number of closings on the books for February 2010!

The State of the Union address also mentioned that we are probably over the worst when it comes the the depth of the economic recession! Interestingly enough Apple launched their eagerly waited iPad and by all accounts this is going to be another leap forward in the technological gadget world. It's getting more like

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Here's the lastest press release from the Greater Nashville Association of Realtors.

 

HOME SALES INCREASE FOR THIRD CONSECUTIVE MONTH

Fourth quarter shows significant increase; Year-end status improves dramatically from mid-year conditions


There were 1,612 home closings during the month of December, according to figures provided by the Greater Nashville Association of REALTORS®.  This is a 13.3 percent increase from the 1,422 closings reported for the same period in 2008.

Fourth quarter closings are 5,730 for Greater Nashville. That total is up 29.8 percent from the 4,413 closings reported during the fourth quarter of 2008.

Final numbers for 2009 show there were 21,183 homes sold in the region, according to figures provided by the

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Obama To Give State Of The Union Address Jan. 27

The President will address a joint session of Congress, beginning at 9 p.m. EST. 1/27/2010.

The speech will be broadcast live on national television and streamed on the White House Web site.

This will be eagerly waited by  all of the economic forecasters and the public. The impact of what the President says can enhance the feeling that we are coming out of the economic recession and as a result reinforce the positive consumer confidence. This in turn leads to more spending as people are more confident about their future..this creates more jobs to create products that feed the new demand...and then the big ticket items start to see sales increase...then...homes start to sell quickly again!

The

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Here are some predictions regarding the US economy from the Chief Economist for the Real estate Center at Texas A&M University, Mark Dotzour, made recently.

One interesting observation is the trickle down effect on reduced home values across the nation as the knock on effect is the reduction in the property tax revenues.


There are 4 "land mines" for the US economy as Mark describes them. It really shows you how the housing market has such a huge inpact on the nations economy in so many ways. Not just directly in terms of either causing the foreclosure of homes or the ability to reduce or increase descretionary income at the home owner level but the impact is felt across the nation and impacts the world economy too.


*** BEGIN QUOTE ***
If the U.S.

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It was just announced that Nashville is on the short list for cities in the US who will be hosting some of the games if the United States wins its bid to host the World Cup in 2018 or 2022

This is great news for the City of Nashville and the game of soccer. The adds to the interest of the recent World Cup qualifying games and international matches that have ben played the Titans stadium LP Field.

You read about the other 18 cities that were selected at www.GoUSABid.com

Great news for Nashville in general. The national media attention will also help to create interest in Nashville and the economy here.

 

Nashville to Host World Cup Matches

With the renewed interest in soccer and the growth of the appeal of the game in the USA,

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December 2009 Housing Sales January 7, 2010 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of December 2009. There were 218 residential and condominium closings reported for the month of December, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area. Compared to December of 2008, the single family residential closings increased 31 percent and the median price increased by eight percent. Condominiums closings have decreased by six percent and the median price decreased by 24 percent.

Overall for 2009, the median residential home price was $343,750 and there were 2,374…
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According to Radar Magazine, Kenney Chesney has decided to buy a second home in Nashville for around $9M. The reports are a little vague as they described the home as "The brand new Tuscan-style house sits on 30 acres in the Nashville suburb of Franklin."

Well, Franklin isn't a suburb of Nashville and I haven't been able to find any recent sales that match that property profile. There has been talk that Kenny also bought another country music stars home for considerably more but that appears to have been another rumor!

Kenny will certainly have his pick of luxury homes in the Nashville and Greater Nashville area, including Brentwood, Franklin and Hendersonville, as after the recession there are quite a few substantial price reductions that have

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The New Site Goes Live!

if you are new to this site you won't really apreciate any of the changes that have been made and associated improvements in the search and site navigation. if you are coming back to the site then you will immeadiately see the improvements!

The interactive map searches are now focused on the areas with a suggested price range that reflects the current trends for real estate sales in those areas.

The property details pages have made significant improvements with access to local data, Google street view, school location and much more. Log in and create your own search and see the new high definition pictures for all the properties.

Any homes listed by RE/MAX Elite and The Ashton Real Estate Group will have the team logo

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