WKRN News Channel 2
Relocation Director and Broker Jeff Checko, has been widely featured as the real estate resource on WKRN News Channel 2 and the segment below aired in late July 2018.
The median home sale price in the greater Nashville area has hit a new high of $320,000. That’s an increase of $20K from just over a year ago. Ther median home price in the USA is $258,500
RE/MAX research has shown that home sales overall are down nationally, but Nashville's housing market is bucking the trend and still shows all the signs of a very strong real estate market. Home sales are still up in 2018, despite low inventory.
Jeff Checko with The Ashton Real Estate Group of RE/MAX Advantage was interviewed by News 2 as the local real estate authority. Jeff said “We might be down three percent nationally on transactions but we’re up almost six percent here locally. Even in the recession that happened in '08 and '09, we do better than what’s happening nationally because we have population growth, we have a conservative fiscal policy that really fuels, and it tracks business.”
Checko also said, “I think in general people like new things. It’s kind of like a car if you can get something that no one else has lived in and it’s got that smell of floor sealant and that smell of fresh paint, people kind of really feel something about that makes it feel even more special to them, I think.”
“In infill market, you see a lot of people that don’t build a lot or haven’t been building for a long time and you see a lot of common mistakes like people are trying to put too big of a home on a home site and they leave no backyard because they just filled it up with this big house on this small home site. Or somebody builds a plan that just doesn’t seem to make sense and isn’t compatible with what’s trending now," said Checko.
One trend that has been seen over the past few years is the move make to living in walkable communities
“It’s like street-by-street specific. So, East Nashville’s a great example. Certain little neighborhoods that have either been there forever or just recently renamed or coined something really perform well based on what’s going on around it so you talk about like a Lockeland Springs. It does really well because there’s some walkable amenities, coffee shops, things like that. You talk about Shelby Bottoms over down by Shelby Park, there’s lots of access to greenways and still access to some things like Eastland where you’ve got coffee shops," Checko explained.
Checko said, “I feel like with our growth, there’s really no signs of that letting up. I’d be shocked if it did, then any type of leveling off should be short-lived.”
Real estate professionals also said if you want to invest in real estate, there are few places safer than Nashville to do it.
News 2 asked other realtors if there is a neighborhood where houses are selling faster than others and apparently there’s really is not. Families are focusing on the suburban areas, while millennials tend to be attracted towards the Nashville downtown core, infill, and the redeveloping areas.
News 2's report on Nashville’s growth and the growing pains that are associated with it.
from New Channel 2