Nashville Real Estate News

The U.S. Department of Housing and Urban Development define affordable housing as costing less than 30% of your annual income.  The average household income in Nashville is nearly $54,000 per year.   At the current interest rates with a 30 year fixed mortgage, affordable housing in Nashville equates to homes priced less than $200,000. 

If you have been looking for affordable housing lately, you know this is a difficult task.  All indications for this year tell us that it is going to get worse before it gets better. 

Here are the top four reasons why we expect the Affordable Housing problem to grow in Nashville this year.

First, Nashville is growing.  People are relocating to Nashville and Middle Tennessee at a record pace and the end is nowhere

284 Views, 0 Comments.

So you have heard that we have a low inventory of homes for sale in Nashville.  

For many sellers this is great news, but you may have mixed feelings about the market.  Just as soon as it recovers and you feel better about selling, there is nothing left to buy.  This makes it incredibly hard to move up in home right now. 

This mindset is keeping many people on the fence, which only makes the problem worse.   Unless you are going to buy a new home, someone else has to sell in order for you to buy.  It is a circular problem that is not easy to fix.

One thing to keep in mind is the old adage that, “All real estate is local.”

When I say local, I mean hyper-local! 

What is generally true in Nashville, might not be true for your community, your

216 Views, 0 Comments.

I hesitate to say this, but I will go out on a limb and declare that SPRING HAS ARRIVED! Finally the sun is shining and the sky is blue, the temperatures have risen and I am seeing the first signs of buds on the flowers and trees. The official Spring Equinox is March 20, but I am declaring that spring has sprung.

In researching the various April Calendar of Events to bring you some interesting things to do in April, I realized I almost missed one of my favorite holidays. I guess it's not actually a holiday – but I'm talking about APRIL FOOLS DAY! My very best April fool's joke was played on my sister and it was 27 years ago. We were working together in the catering business at that time and she had just delivered her 3rd child in February. I called her

188 Views, 0 Comments.

Well, I am in total denial about the HUGE winter weather event that is coming up this week- it is March for heaven’s sake - and by the time this blog is posted and anyone reads it, the event may be over so I am not going to talk about it, EXCEPT TO SAY that a self-employed working girl cannot take many more cancellations to her pocket book!  I have four catering jobs this week and am in full swing in production.  If there are cancellations, I may just have to invite the neighborhood over for lunch and dinner for a few days – just a nominal charge to cover my expenses!!!

DO NOT FORGET TO SET YOUR CLOCKS FORWARD ONE HOUR ON SATURDAY, MARCH 7TH, BEFORE YOU GO TO BED!!!!

Yes, folks, on Sunday March 8th we will be seeing the light until almost 7:00pm!  

295 Views, 0 Comments.

A winter blast has arrived this morning and, for most of us, this ice storm has sequestered us in our homes.  I gathered my elderly Mother up and brought her to my home last night so she would not have to weather this storm alone.  I anticipated writing something uplifting about spring coming, but that is not an easy task as I sit here in front of my computer which has a beautiful picture window – one of my pictures to the world – for me to gaze through as I write.  My view is of falling ice, sleet and rain which has now covered every surface – roads, trees, cars, driveways, grass.  I keep waiting for this to turn to the promised inches of snow – at least we can have the beauty of the big, wet falling fairy flakes, but no sign of them yet.  The

376 Views, 0 Comments.

March is just around the corner.  Just like you, many homeowners are currently planning their Spring Cleaning and Home Improvement projects. 

The problem is most projects, especially the major improvements; do not give you a 100% return on your money.  The average project returns 70 – 80% of the dollars spent on improvements.   If the quality of the work is below professional standards, it could even detract from the value of the home.

If you make the wrong choices, you could be throwing money away and not improve your position in the market.  

Whether you are thinking about selling this year or you want a few years of enjoyment, you can still get the biggest bang for your buck by following these rules.

 

1.  Low Cost Projects Lead to Higher

408 Views, 0 Comments.

From Nashville with LoveSt. Valentine’s Day!!

One of the most popular martyrdom stories (evidently there were many) of what has eventually become our version of Valentine’s Day, is the story of a Saint Valentine of Rome (again, evidently there were many).  He was imprisoned for performing weddings for soldiers who were forbidden to wed and also, for ministering to Christians who were persecuted under the Roman Empire.

According to legend, while Saint Valentine was in prison, he healed Asterius, the daughter of his jailer.   This did not gain the favor of the jailer that I would have expected as, just before Saint Valentine was EXECUTED, he wrote Asterius a letter of farewell, signed “Your Valentine”. 

I am not certain where Cupid comes in to the story, but, according to

405 Views, 0 Comments.

Looking for a little spring in my step!

As I sit at my desk, looking out the window as I write this blog contribution, I am subtracted (read on – you will understand in a moment) as the sun has finally decided to grace us with her presence, the skies are that crisp clear winter blue and there is not a cloud in sight.  I actually went to my mailbox in a t-shirt and only experienced just a little chill in the air.  Ah……there is hope for the coming of spring.  I know it is still January and this is just a tease, but oh what a welcome momentary subtraction (again, read on).  I must have patience, I must have patience.  Speaking of patience, I have just come across one of the best definitions given by a very special girl, the niece of a friend of mine, who

476 Views, 0 Comments.

Just when you thought it was safe to get back in the water, new laws will bring big changes for most real estate transactions in 2015.  

Both changes were driven by the Dodd-Frank Act and have taken some time to implement.  The first initiative is commonly called “Know Before You Owe,” and among other things will add three days to the end of the loan approval process.     This delay comes at the worst time for most home buyers and sellers, just before closing.  The change is effective on August 1, 2015.

The second change is the launch of Fannie Mae’s “Collateral Underwriter” system to lenders nationwide on February 26, 2015.  This tool provides a quality score for each appraisal and will increase the opportunity for homes not to appraise for the

551 Views, 0 Comments.

I always like to write the date on the first day of a new year.  I’m not certain how different this one day is from the day before.  The minutes flow as they always have and as they always will, but there is definite significance in the second between 11:59:59pm on December 31, 2014 and 12:00:00am on January 1, 2015.  A new year seems to bring with it possibilities which did not seem apparent in the old year.  As we look forward, we make resolutions or resolves or, as I like to refer to them, intentions, for ourselves as we take that giant, one second leap into the future.  I’ll share the intentions I wrote this morning in the order in which I wrote them.  I am not sure of the significance of the order yet – if there is any, it remains to be revealed,

514 Views, 0 Comments.