Nashville Real Estate Blog - Blog Archive: July, 2016

information relating to real estate in Nashville Tennessee

Nashville Real Estate Blog - Blog Archive: July, 2016 Close
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July 2016

Found 7 blog entries for July 2016.

Nashville Airport RenovationBig news broke earlier today regarding the massive $1.2 billion renovation that will totally redefine the Nashville International Airport. According to reports, nearly every square inch of the facility will be completely revamped and improved, providing travelers with a first-class experience in just about every way possible.

The renovation, which also includes an expansion, will include additional parking, more security lines, larger baggage and ticket claim areas, additional concourse space, and even a brand new hotel that is unlike anything we’ve seen at the Nashville airport to date.

To give you an idea of just how game-changing this development will be for the Nashville International Airport, the project is expected to take between five and seven

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Spring Hill, TN DevelopmentRight now, the Spring Hill community is known most for its quiet rural setting and laid-back suburban lifestyle, which is what most current residents love about living here most. But as a city that’s continuing to focus on growth and development, Spring Hill could be seeing a jump in population sooner rather than later.

Earliest this spring, reports surfaced about a proposed project that would add 1,200 new single-family homes and townhouses to town, as well as 25,000 square feet of new retail and office space as well. The project, called Harvest Point, could bring as many as 5,000 new home owners to Spring Hill, which has some locals concerned about roads, schools, and other community amenities not being able to handle such a significant spike in

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New Construction Real Estate News in NashvilleAn exciting new residential project has been announced for the northeast corner of Merritt Avenue and Pillow Street in Nashville’s fast-growing Wedgewood-Houston neighborhood. The site, currently owned by Nashville-based Grant Hammond, will soon be developed into a small 14-home neighborhood that will feature charming cottage-style residences with between 1,800 and 2,500 square feet of living space.

Being called the Pillow Street Cottages for now, construction for the entire project is only expected to take about a year, meaning delivery for the homes could come as quickly as early next summer.

According to reports, the Pillow Street Cottages are being designed by John Root of rootARCH.

Directly across the street from the Pillow Street Cottages at the

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Seller Financing Pros & Cons When selling a home, financing is usually something that is entirely the buyer's responsibility. The seller collects a check or receives a wire after the loan goes through and all the fees are paid. However, adventurous sellers who are open to alternative finance options may wish to explore seller-financing.

What is seller financing and how does it work? If you have a strong buyer who nonetheless does not have access to traditional financing, there can be distinct advantages to financing them yourself. You just need to be sure that you can, or want to, deal with the potential drawbacks of this unusual finance option.

Here we highlight some of the potential pros and cons of offering seller-financing.

Please note the below is for

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Townhouses Proposed for Germantown SiteWhile the Germantown neighborhood may be one of the city’s most underrated neighborhoods, at least in our opinion, development continues for this desirable part of Northern Nashville. Recent headlines grabbed our attention that outlined a possible new development that could bring 22 new townhouses to the area, which is widely thought to be one of the more attractive locations for both residential and commercial development right now. 

According to The Tennessean, a group of Nashville investors have secured nearly an acre of land in Germantown in which plans are currently under way to develop the 22 townhouse project, which would be located at the northwest and southwest corners of Taylor Street and 2nd Avenue. 

If built, the new townhouses would be

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Nashville Real Estate Market UpdateWhile Nashville-area home sales were up again last month compared to June 2015, the growth rate wasn't quite as significant as what we’ve seen throughout the first half of 2016. In total, the Nashville region saw 3,869 home sales in June, or about a 1.7% spike compared to the same month last year.

As you might recall, the Nashville area saw 3,698 closings back in May, which was close to a 4% increase compared to May 2015. Furthermore, the year-to-year comparison in April was significantly higher than in both May and June, showing what was almost a 12% spike from April 2015 to April 2016.

A closer look at market conditions also reveals that despite home sales starting to slow down a bit, home prices around Nashville continue to rise. According to the

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15 vs. 30 year MortgagesWith today's low interest rates, does it make sense to build equity fast or try to pay off a mortgage?

Is it better to sign for a longer term and then pay additional principal each month? What is the best strategy for building a secure future?

Burning the Mortgage -- An Outdated Goal?

There was a time, not so terribly long ago, when the goal of every homeowner was to have a "burn the mortgage" celebration. But that was when buying a home seemed more like an end goal than home ownership is today. That was also during a time when having the security of a home for old age and future generations was simply "what was done."

Today, owning a home "free and clear," is almost a negative, because it requires cash reserves for taxes and insurance,

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