Nashville Real Estate Blog - Blog Archive: November, 2010

information relating to real estate in Nashville Tennessee

Nashville Real Estate Blog - Blog Archive: November, 2010 Close
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November 2010

Found 5 blog entries for November 2010.

As sure as the sun rises, almost every time a Realtor® introduces themselves in a social situation these days, it is followed by this question..

"How is the market?"

I've heard a lot of different answers to this question, yet no matter how any given Realtor® might choose to answer that (which is another conversation all together) it seems that most people feel that it is in fact a BUYERS MARKET.  But what exactly does that mean?  Many people think that there are deals abound everywhere you look, or some similar terminology to the effect.

Most people have heard something in the news about slumping real estate sales, about how there is an excess of inventory on the market, and how homes and condominium units can be purchased for pennies on the dollar.

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Consumer confidence and business spending are key to whether the U.S. housing market will move into a virtuous or a vicious cycle in 2011, NAR Chief Economist Lawrence Yun told a packed audience at the Residential Economic Outlook Forum Friday in New Orleans.

After the downturn, the housing market has clawed its way back to a point of near stability, Yun said, with the pace of new foreclosures easing, sales moving toward historically normal levels and prices on a national basis gaining modestly.

At the same time, affordability remains strong. He said all of the price excesses from the housing bubble have been squeezed out. In San Diego, for example, buyers today would pay $1,564 a month in mortgage payments for a house that at the height of the boom

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October looks like it was a reasonable month for home closings in Nashville TN. There were 447 homes that closed in October 2010. This doesn't include any condo sales. This is down from the 671 homes that closed in Nashville last year in October 2009. Condo sales for Nashville were 102 closings compared to 218 in October 2009.

Nashville Real Estate Statistics

The cheapest home that sold was listed for $9,900 and actually sold for $5,000 after just 27 days on the market. The home was sold as is and will likely be renovated and resold. The most expensive sold was $1,750,000. It was originally listed at $1,995,000 and sold after 182 days on the market.

The average price of a home sold in Nashville was $204,261 with an average days on the market of

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November 9, 2010 (Franklin, TN) - The Williamson County Association of REALTORS® (WCAR) announced today the
statistics for residential home sales in Williamson County, TN for the month of October 2010. The figures show a slow but steady improvement in the real estate market in Williamson county from the sellers point of view. The bottom of the market may have already passed and with the talk of lower interest rates buyers really should not miss out on a great opportunity to buy a home.

The WCAR noted that there were 237 residential and condominium closings reported during this period according to figures provided by
RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle Tennessee region.

The number of single-family

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NASHVILLE, Tenn. (AP) — Site Selection magazine has chosen Tennessee as the nation's second best state for it's business climate.

The publication's November issue lists North Carolina as the No. 1 state. Tennessee has moved up 3 places as it was ats No. 5 a year ago.

The ratings are based on performance in business expansion and relocation, plus a nationwide survey of corporate real estate executives.

Gov. Phil Bredesen said in a news release that the state has made "incredible progress in making Tennessee the kind of state where business knows it will be treated fairly."

Commissioner Matt Kisber of the Tennessee Department of Economic and Community Development said the state has shown that raising educational standards, expanding workforce development

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