Nashville Real Estate Blog - Blog Archive: November, 2016

information relating to real estate in Nashville Tennessee

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

Found 11 blog entries for November 2016.

Fifth + Broadway NashvilleThe long-talked-about Fifth + Broadway mixed-use development just took another step forward earlier this month, as developers have officially acquired the building site and look to begin prep work as soon as possible. 

According to reports, OliverMcMillan and Spectrum | Emery purchased the 6.2 acre site from the Nashville Metropolitan Government in a deal that involved putting up $5 million at closing and paying an additional $250,000 a year for the next 25 years, bringing the total acquisition cost to $11.25 million. 

Demolition of the convention facility that currently occupies the site is already planned for next year, and in its place, the new development is expected to include 230,000 square feet of retail, restaurant, and entertainment space;

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Home Selling Documents and Records Selling your home means getting organized and making sure you have the proper paperwork - before the sale. Whether you are a first-time home seller or you are a veteran at doing so, having ready access to the necessary documents will make the home selling process much smoother.

Today, many of these documents may be available in digital form. In that case, make sure to keep a record of the electronic location of each so you can access them quickly. One option is to go ahead and print them and maintain a file with all of the printed docs for easy access.

Since many of the documents listed below contain sensitive financial and personal information, they should be stored in a secure location such as a locked cabinet or within an encrypted server

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As job growth and demand for housing across Middle Tennessee continues to sweep the region, one local developer is planning to take a much different approach when it comes to building a new community down in Franklin. With Williamson County easily being the fastest growing county in the state, home prices and apartment rents have skyrocketed to all-time highs, consequently pricing many would-be home buyers out of the market—at least for now. 

The city of Franklin is the acting county seat of Williamson County, and when you combine it’s highly-touted school system and the rate at which new jobs are coming to the area, its appeal and desirability isn’t likely to fade anytime soon. 

According to recent reports, Franklin-based Bristol Development Group

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Leading up to a presidential election, the U.S. housing market traditionally slows down a bit as uncertainty looms regarding future tax plans, employment trends, and other policy issues that could impact the economy moving forward. In many markets around the country, this November was certainly no different, and despite the election now being over, we could see an even slower holiday season than usual. 

According to Freddie Mac, U.S. mortgage rates spiked post-election, with 30-year fixed mortgage rates now averaging 3.94% as of November 17th. It is worth noting, however, that although rates averaged 3.57% just one week prior, the increase is still slightly lower than the average mortgage rate of 3.97% this time last year. 

There’s no doubt that

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Pricing Your Home The words buy low and sell high are typically associated with the purchase of stock, but they are also applicable for anyone looking to buy a new home and/or sell their existing home. Selling your current home for the best price possible allows you to make a larger down payment on your next home and improve your overall financial situation.

How do you get the best possible price for your existing home? The first step is to get the help of a real estate professional; their proven experience selling homes is invaluable to anyone trying to make the best sale they can.

Pricing: It's All About the Comparables

Your home is worth the highest price the market is willing to pay. Without a crystal ball, how can homeowners know that the market will

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Williamson County New Construction TaxesAlthough the rising costs of land, building materials, and labor are already impacting the residential construction industry, a new tax that Williamson County commissioners are considering could make both building and buying a new home in the area a bit more expensive. With the population of Williamson County expected to double within the next 15 years, officials are looking for new ways to accommodate the projected 11,000 new students expected to join the school system during coming years, and levying a new “impact fee” on new construction homes is one option being throughly examined. 

According to reports, the one-time fee would be solely based on square footage, and for reference, a new 3,000 square foot home could command a $10,000 tax. Revenues

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Nashville Real Estate Market Update: October 2016Nashville area closings spiked nearly 10% in October compared to a year ago, according to recently released numbers from The Greater Nashville Association of Realtors. In all, 3,030 closings were recorded last month, brining the year-to-date total up to 32,696 as of the end of October. 

While Nashville remains one of the hottest real estate markets in the country, the sales volume continuing to increase is somewhat surprising given Nashville’s dwindling inventory. Compared to October of two years ago, inventory is down by nearly 1,000 homes, which could be a trend that carries into next year as new construction continues to struggle keeping up with demand. 

Homes for sale in Nashville are also selling at a lightning-fast pace, with the average

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#titans #nissanstadium #nashvillerealty #nashvillehomes #remaxadvantage #thegulch #theashtonrealestategroup #officialrealestateteamofthetitans On the field with @kadpi22 Katie Herndon of RE/MAX Advantage. Katie has worked with quite a few of our favorite Titans players and staff!! Great tailgate today at the and a fantastic win over Green Bay!! Looking forward to another win at the Colts next Sunday!

A photo posted by Gary Ashton (@gary.ashton) on Nov 13, 2016 at 6:16pm PST

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Affordable Condos For Sale in NashvilleWith so many of today’s home buyers either being young buyers or first-time buyers, affordable condos in Nashville seem to be in very high demand right now. In a recent article posted on The Tennessean’s website, several condo developments in town were specifically noted for selling at  a lightning fast pace, and in many cases, it’s because of their affordability that each location continues to attract so many different buyers. 

If you look around at projects like Solo East, Alloy on Tech Hill, and even the recently proposed Solo South that promises some units starting at under $100,000, it’s easy to see that buyers of both today and seemingly tomorrow are putting a high value on functionality, sustainability, and affordability more than anything else.

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Affordable Nashville Condos With more first-time home buyers entering the marketplace, affordability plays a key role in current market conditions in Nashville right now, and it’s a trend that might not be going anywhere anytime soon. Millennials, for the most part, have perhaps waited longer than any other generation to buy a home, and with so many young home buyers looking to make that long-awaited transition from renting to owning, demand for functional, sustainable, and affordable housing seems to be higher than ever.

One local developer seems to be fully grasping this concept and is actually in the process of launching a unique new project that would include a select number of condo units that start for under $100,000. Bruce McNeilage and his partners, who also developed the

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