Real Estate and Banking seems to be on everyone's mind these days. In an effort to provide the general public with valuable information concerning real estate, I am creating this page for just that purpose. I have to preface the information contained herein, so bear with me, the valuable information follows.
My approach will be a little different as real estate markets are very localized. Each is very different depending on two major driving factors: Demographics (able buyers) and Economics. There are other important factors as well, but these two are very important.
For real estate and homes for sale in the Nashville Tennessee, Davidson County Tennessee, Williamson County Tennessee and other counties, these two factors alone are very solid and thriving. So my approach will be a positive one as this real estate market in the Nashville Tennessee area is slower than usual yes, but thriving nonetheless. I intend to fight the bubble of all the negative reports that come from a variety of sources. My opinions will be just that, my opinions and not necessarily the opinions of Fridrich & Clark Realty, LLC. I will also offer you links as to the sources of some of the important, positive news and concerning news as well. I will always strive to give you factual data from reliable sources concerning home sales in Middle Tennessee and Nationally for that matter.
Finally, let me just say that I take my job very seriously. I want my clients to make informed buying and selling decisions. I cannot stress this enough. I don't just do simple comparative market analysis. I take it a step further. I give you extremely valuable information concerning the current monthly absorption rates, the month's supply and I even drill it down to the chances of selling a home. If you are buying, this is an extremely powerful negotiating tool to get you the best value and price. It doesn't mean you can steal a house, but it does arm you with information I seriously doubt you will get with other Real Estate agents. Personally, I believe the old "Days on the Market" is irrelevant; the true measure is absorption rates & month's supply.
I prefer to "title" myself as your real estate advocate. I differentiate myself by not just riding around in a car complimenting neighborhoods and houses; I am searching for value, condition, amenities and correct pricing. Of course, your area preference and desires are equally important! I submit all of the information mentioned with the offer if you are buying (sometimes verbally or in writing). Just as important, if you are selling, I defend a selling position with the same data. The devil isn't in the details....there are streets of gold in them.
Ok, there's the pitch. Now, if you want to hire a true professional for your buying and selling; my contact information is all over this website. If you don't want a professional don't waste your time or mine. It doesn't cost you a dime to call me and let's talk. If you would like to meet face to face I can do that too. I would be honored to give you my PowerPoint presentation "Understanding Local Markets and Absorption Rates" and let you decide for yourself if it has meaning and value in your buying or selling decision.
Now, to the information call it my "blog" :D
In a recent report for June 2008 from the Greater Nashville Association of Realtors (linked on this page) home sale closings were down 27.8% compared to June 2007 for the Middle Tennessee area. There were 2591 closings for June 2008 vs. 3588 closings in June 2007. Click the link for a more detailed report for the month and the quarter of 2008.
Should we be concerned about this? No, here's why. I could speculate all day long about the real estate market in Middle Tennessee. I could be negative and nasty by saying "the sky is falling". But I refuse. The fact is most people don't realize that 2007 was the 5th best year on record for real estate in the United States! Have you heard that reported in the news? I have yet to hear it or read it. For real estate sales in Middle Tennessee; 2006 was the best year on record; 2005 was the 2nd and 2004 was the 3rd best ever! Have you heard any of that in the media?
According to the National Association of Realtors Chief Economist, Lawrence Yun, in an article of the April Issue of Realtor Magazine; he cited that the market is showing signs of stability (on a National level). I was eager to see if what he stated was true on a local level for Middle Tennessee real estate. In more recent reports he and others, said that April appeared to be the "hit bottom" month. Here is the amazing thing. According to my absorption rate data these numbers and statements are correct! There are clear graphics and data in my studies that show this to be accurate for home sales in the Nashville Tennessee area. There are many signs that the real estate market is turning! And I can quantify it. Certainly there are price points this isn't necessarily so, but as a whole the real estate market is turning in Nashville, TN, Brentwood, TN and Franklin, TN and most other Nashville Tennessee real estate markets!
The recent reports concerning certain bank failures raised a new concern and it should. In my opinion, there should be people in jail for, yes, fraudulent banking practices. I have zero sympathy for LISCENCED professionals who knew these folks couldn't afford it and cared more about their commission and sales results than this individual being foreclosed on in just a small matter of time. It's shameful and criminal. I have some sympathy for those individuals who were roped into these sub-prime loans, but I also feel that you have to use good sense when buying a home. Can you really afford it? Make certain because foreclosure is very ugly on a large spectrum. This is why I have been petitioning my Congress people frequently urging them to that reform is needed.
I was recently pleased to hear the Secretary of the U.S. Department of Treasury immediately respond to these reports and facts that some banks and lenders are in trouble. You can click the provided at the top of the page to watch the video of Paulson's statements (don't bother with this on a slow internet connection). There is also a link to read about his statements if you prefer. But what does this all mean? Real estate in the Nashville Tennessee area has been correcting itself for some time now from a long run of success. It is my opinion that this same correction is happening nationwide as well. It's obvious. Although I would agree that the nation's economy is shaky, I refuse to believe that it is headed for an outright recession/depression. The United States economy has always been strong and I believe it will rebound just like it always has. Things have been too good for too long and eventually what goes up, must come down…what an insightful cliché. It is interesting to me that Paulson comments about the correction that is taking place. By in large that's what we have, there are adjustments being made in more than one area.
I urge you to visit and read the provided links or watch the video. My opinion: This clearly indicates that the U.S. Treasury views the U.S. mortgage market as "too big to fail". The Treasury will provide the liquidity necessary to keep its federally-chartered, private stockholder-owned mortgage intermediaries Fannie Mae (FNM) and Freddie Mac (FRE) operating efficiently and effectively. This should also give the mortgage markets the liquidity for a healthy, efficient housing market moving forward. These mortgage finance giants FNM and FRE either hold or back $5.3 trillion in mortgage debt, accounting for half of the nation's current housing market mortgages. If approved by Congress, this plan would temporarily expand their $2.5 billion line of credit with the Treasury and allow the agency to purchase stock in the companies. This should make a slumping housing market begin to return to stability and growth. At the least it should get the U.S housing market on a path towards more efficient mortgage markets and clearly be less susceptible to fraud and abuse. The taxpayers should never have to subsidize the costs of the subprime frenzy and other loan qualifier mistakes. It is my opinion that this move by the United States Government will makes these issues vanish so that we never live through this again.
So what's the bottom line? There are several bills before Congress that if passed, folks should be able to refinance some of these mistakes. In addition, there is a chance that certain price point homes that were previously considered "jumbo loans" will no longer be in that category. There are bills underway that will raise the loan limits. In case you don't know, current 30 year conventional rates are hovering around 6.25% and jumbo loan rates hover around the 7.5%-8.0%. That is a huge difference and refinancing will put monthly money back into family's hands to save or spend…this spawning economic growth too. This should also stop many potential foreclosures. In addition, people that did not want to afford homes because they were in the jumbo category would now be enabled to purchase these homes, again, spurring more growth and home sales. Think about it, who wants to pay 8% interest on that kind of money? To learn more about this and the National Association of Realtors lobbying efforts to Congress visit http://www.realtor.org/government_affairs. You can discover more in detail why these bills are so important and when to expect the changes.
At the end of the day, the issue with homes for sale in the Nashville Tennessee area is an inventory problem. They are at record highs. All of the above factors into this. Point is, if you don't have to sell your home, then don't or take it off the market. Sounds crazy coming from a Realtor but it's true. But if you must sell, then you better have your home in tip top condition and you better price it correctly. It must be a deal or it will not sell. That's true whether it is a Seller's market or a Buyer's market. It is irrelevant how much profit you must make in order to do "xyz". If it is not a deal, it will fall into the abyss of inventory. Chasing the market on price is both frustrating and futile.
On the other hand, if you are a qualified buyer there is no better time than right now to purchase a home for sale in the Nashville, TN area. It's only a matter of time before the supply and demand equation moves towards balancing out (its showing signs of it already). Then, Builders and Sellers will begin to remove their concessions (another sign the real estate market is turning).
I hope that I have provided you with some valuable information with a positive tone. I invite you to hire me as your Realtor whether you are buying or selling. I am a strategic Realtor which is a very rare characteristic amongst my colleagues. I am not your average Realtor, allow me to prove that to you by giving you the time, attention, and data you deserve in such an important investment decision. My goal is you are my customer once and my client forever!
Searching Nashville homes for sale doesn't have to be a stressful quest. If you don't know the highly desired areas home buyers tend to favor once they arrive here and start viewing property listings with me. Brentwood TN real estate area trends towards more luxurious home buyers. But, Franklin TN real estate is just as popular for high end home buyers. In both Franklin TN and Brentwood TN homes for sale you will find property listings for sale that meet the needs at prices for average home buyers as well. In any case, homes for sale in Brentwood TN and homes for sale in Franklin TN are only about 15 minutes south of the Nashville TN area real estate and homes for sale. Home buyers seeking to be just far enough away from the "big city" are gravitating towards property listings and homes for sale in the Brentwood TN and Franklin TN areas.
I am your real estate advocate. I treat your investment as if it were my own whether you are buying or selling real estate in the greater Nashville area. Others talk about the best service for all your real estate needs, I deliver it. Whether you are buying or selling in the Nashville area real estate market or searching the MLS homes for sale in Brentwood TN, Franklin TN, Spring Hill TN, no one beats my service. I will guide you through the complex details from home inspections, title companies, and offers for purchasing real estate in the Nashville area. If you are planning to sell your home in the Brentwood TN area, Franklin TN area, Spring Hill TN area, I will help you determine what you are faced with in a buyer's market as well as strategically developing a plan of action. I work with home stagers who know how to increase your chances of selling by making your home look and feel warm and cozy. Place your confidence in someone you can count on; call me today for a personal interview!
©2009-10 Steve Hill – SteveHillRealEstate.com – All rights reserved
Steve Hill, a real estate resource center for home for sale in the Middle Tennessee area; On his website you can search the entire Nashville Tennessee MLS to see Real Estate and homes for sale and his areas of specialty include the following subdivisions and areas.
Areas of focus include; Nashville, Oak Hill, Belle Meade, Forest Hills, Brentwood, Bellevue, Davidson County, Franklin Tennessee Real Estate, Brentwood Tennessee Real Estate, Leipers Fork Tennessee Real Estate, Belle Meade Tennessee Real Estate, Land in Middle Tennessee, Farms in Middle Tennessee, Farms for Sale in Middle Tennessee, Nashville Tennessee Real Estate, Condos in Nashville Tennessee, Spring Hill Tennessee Real Estate, Get free real estate reports, a market analysis of your home, area and mortgage info, golf course communities Nashville TN.
Steve's area of specialty is Williamson County TN homes for sale and MLS listings.
Search for listings by subdivision in Williamson County Tennessee:
Albany Pointe, Andover, Banbury, Bethany Hills, Bonbrook, Brookfield, Brenthaven, Buckingham Park, Burtonwood, Callie, Campbell Station, Cameron Farms, Carronbridge, Carriage Hills, Castleberry Farms, Cedarmont Farms, Charlton Green, Chenoweth, Chester Creek, Clairmonte, Cloverland, Crockett Hills, Crowne Pointe, Concord Crossing, Dallas Downs, Eagles Glen, Forrest Crossing, Forest Home Farms, Founders Pointe, Franklin Green, Gates at Carlisle, Golden Meadows, Governors Club, Grant Turner, Grassland Estates, Green Valley, Haynes Crossing, Heritage Pointe, Hillsboro Acres, Indian Point, Ivy Glen, Keystone, Kingwood, Knolls, Lansdowne, Laurelwood, Liberty Downs, Liberty Hills, Maplewood, McFarlin Woods, McKays Mill, McLemore Farms, Monticello, Montpier Farms, Oakhall, Oakhampton, Oakleaf, Pipkin Hills, Pecan Hill, Polk Place, River Landing, River Rest, Rogersshire, River Oaks, Raintree Forest, Raintree Forest, Ralston Glen, Redwing Meadows, Richards Glen, River Landing, Royal Oaks, Saratoga, Somerset, Spencer Hall, Spring Hill Estates, Stonebrook, Sturbridge Pointe, Sullivan Farms, Stone Creek Park, Southern Woods, Summer Hill, Steeplechase, Temple Hills, Temple Ridge Estates, The Pines, The Village, Taylor Ridge, Willow Springs, Wyngate Estates, Ridgeport, Temple Hills, The Enclave, Willowick, West Harpeth Two, Wyngate, Watkins Creek, Wildwood, Yorktown.
