Nashville Real Estate Blog - Blog Archive: October, 2016

information relating to real estate in Nashville Tennessee

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

Found 10 blog entries for October 2016.

More Home Buyers Choosing Downtown NashvilleAll the way back in 2014, an interesting report was released that examined the topic of urban sprawl and how it can negatively impact quality of life. In short, the data collected by researchers suggested people living in cities with a larger and/or growing urban sprawl tend to experience higher living costs, shorter life expectancies, lower economic mobility, and even an increased risk of obesity and diabetes. 

The measuring stick for determining which cities are the most sprawling and which cities are the most dense was based on a “sprawl index score,” which used four primary factors to generate results: development density, land use mix, activity centering (how dense a city’s downtown is in relation to surrounding areas), and street accessibility. 

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Westhaven Franklin Homes For SaleThe suburban driving culture of America seems to be fading more and more with each passing year, and the days of home buyers opting for a place to live that doesn’t provide easy, quick, and even walkable access to amenities like coffee shops, grocery stores, and pleasant outdoor spaces also seem to be a thing of the past. But is buying a walkable home even possible in some of Nashville’s suburbs, or are today’s home buyers stuck with only looking for a home or condo in or around downtown Nashville?

Well, if you're already familiar with Franklin’s Westhaven master-planned community or perhaps even live there already, you’re probably already well-aware that not only does this fabulous community provide any number of different attractions and amenities for

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Burkitt Ridge Homes Cane Ridge TNInventory has been a big topic for discussion when it comes to Middle Tennessee real estate in 2016, and in many ways, it’s also been the one major hurdle in what’s otherwise been a very active year around the Nashville area from a market standpoint. 

But as we make our way towards the end of the year, many industry experts are fully expecting construction to pick up in 2017, with more evidence of that possibility already coming earlier this week. According to reports from both The Tennessean and the Nashville Business Journal, Middle-Tennessee-based developer Regent homes is planning a large-scale new home community in Cane Ridge, TN, which sits just 25 miles outside of Nashville. 

Being called Burkitt Ridge, the aptly named community will be

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Nashville Real Estate Investing in 2017Although it’s hard to believe 2016 is coming to a close, here we are already approaching the end of the fall season with the holidays and the rest of the winter season approaching faster than many of us would like. But with the end of the year close by, some real estate analytics companies are already looking ahead to 2017, which according to some reports, is shaping up to be another great year for the Nashville real estate market

Recently released outlook reports from PricewaterhouseCoopers and the Urban Land Institute are ranking Nashville high up on the list of top cities for real estate investing in 2017, which for those of us who already call Nashville home is hardly surprising. 

As noted in the findings, Nashville’s high concentration of

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Google Delivery NashvilleJust in time for the busy holiday season, Google Express delivery service has launched across Tennessee. The program’s start in the state is part of a multi-state expansion effort to rival not only Amazon, but also some of the smaller companies that have recently started delivering basic household items like food, toiletries, and other groceries.

As for what to expect in Tennessee specifically, there are eleven merchants already signed up for the online marketplace, including Kohl’s, Walgreens, Payless ShoeSource, Whole Foods Market, PetSmart, Sur La Table, L’Occitane, Guitar Center, Fry’s and Costco. Nationwide, though, Google Express already lays claim to dozens of merchant partners that go far beyond this list, so expect other retailers to be added

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Assets Needed for Mortgage Approval When you apply for a mortgage, your lender will request a great deal of paperwork from you. This will include looking at your income, assets and existing debt - as well as your credit-worthiness.

As a part of the mortgage loan process, the mortgage lender, along with the underwriter of the loan, will request verification of the assets and income that you say that you have.

As a part of the verification process, certain terms and questions may arise. Here are a few:

The Ability to Pay Rule

Subprime mortgages accounted for a significant proportion of the recent housing crisis in the Nashville area and around the country. During the housing boom, many people who could not realistically afford specific mortgages were approved for them

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Nashville Real Estate Market UpdateIt’s been a great year for the Nashville real estate market and September was certainly no different. Earlier in the week, The Greater Nashville Association of Realtors announced that 3,474 homes closed last month, which is up from 3,244 home closings in September of last year.

Yearly figures were also released by GNAR and are up nearly 4% from 2015, bringing this year’s total closings through the month of September up to 29,372.

Despite the relatively moderate increase, the Nashville area market still remaining somewhat stable even with a dwindling inventory is a great sign of how strong the Middle Tennessee real estate market actually is right now, and all signs point to more of the same as we make our way towards the end of the year.

Pending sales are

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Nashville Home Sales in September 2016After two straight months of declining home sales in Nashville, the local real estate market finally saw a slight increase in September compared to this time last year. 

Recently released numbers from the Greater Nashville Association of Realtors tallied 3,474 home closings last month, which is just under a 1% increase from September of last year. 

As noted in previous reports, home sales in Nashville have been down over the last couple months, with August seeing a 0.8% decline, and July seeing a 3.3% decline. 

Home sales weren’t the only housing statistic on the rise in September, as the median sales price was also up compared to last year. Also noted by the GNAR, the median sales price for a single-family house sold in the Nashville area was up

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Home Warranty Decision When you negotiate to purchase a home, the seller may offer you the ability to purchase a limited, temporary warranty on a particular home. In some cases, the seller may even provide one with the sale of the home.

While home warranties can be useful in certain situations, you should also understand what they cover and how they differ from homeowner's insurance should you buy one.

What is Covered in a Home Warranty?

Home warranties vary in the coverage offered, but there are some common features you can reasonably expect. A standard home warranty often covers the plumbing systems and some related appliances (e.g. dishwasher and water heater), ventilation and the heating and cooling systems.

You may need to request additional coverage

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Nashville Real Estate Market If you think the Nashville real estate market in 2016 was active, several projections have recently been released that forecast 2017 could bring even more home sales than what was predicted at the beginning of this year. 

But before we turn the calendar to 2017, home buyers are first going to have to navigate the traditionally busy fall market, which according to some economists, could potentially be the  hottest market we’ve seen in over 10 years. 

Over the summer, the housing market nationwide saw demand continue to rise, with home prices in most markets also on an upward swing. And if you believe National Association of Realtors Chief Economist Lawrence Yun, the change of season likely won’t bring much relief in either of those categories, and

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