Homebuyers Market Update for Nashville-Middle Tennessee Real Estate

In the last few weeks, hundreds of properties have sold in the Middle Tennessee Real Estate market area. Since I continually monitor the Nashville real estate market, I thought I’d highlight a few opportunities that homebuyers have taken advantage of recently. These are just a few…

Belmont Area in Nashville for $190,000

This historic home built in 1935 has

almost 1,900 square feet and is just

a few steps from the Belmont Campus.

Pleasant View in Cheatham County for $239,000

On almost 2 acres with a cozy firepit

on a brick patio by the creek, this

home is 3,800 square feet with a

full basement.

Smyrna in Rutherford County for $260,500

Almost 3,000 square feet and just

a few years old, this home has lots

of custom touches with hardwood

floors and trim work.

Old Hickory Lake in Nashville for $262,500

You can walk to Old Hickory Lake

from this home that is over 3,000

square feet with a large lot that

adjoins wooded property.

Near Nippers Corner in Nashville for $269,000

Off Old Hickory Boulevard, this

2,500 square foot home has a

remodeled kitchen with granite

and stainless steel.

Franklin in Williamson County for $340,000

On over an acre with over 3,600

square feet, this home has a large

master suite with a spa bath and

screened porch.

Green Hills in Nashville for $368,000

This unique tudor style home in

the heart of Green Hills has over

2,600 renovated square feet

including 2 master suites.

Mount Juliet in Wilson County for $420,000

This 3,900 square foot home with

a Florida room is in an idyllic setting

that includes 10 acres with a stocked

pond.

And remember, this is just a few properties that I found interesting. Every buyer I work with has unique needs and requirements that make something feel like “home”. If you’d like to see what is available within 30 miles of Nashville in the Middle Tennessee real estate market, I encourage you to take advantage of my FREE Property Search feature by setting-up a Property Alert at my web site by following this link. Just a few minutes inputting your personal criteria and you’ll have the system notifying you when something intriguing comes on the market.

After working with thousands of buyers, I know that some people have REALLY unique requirements that can only be met with a Custom Search of the thousands of properties that are listed for sale in the Nashville-Middle Tennessee MLS Real Estate System. If you are one of those people, I’ll have to set-up the search for you. Just use my Dream Home Finder form at my web site to get the process started. Just click HERE.

I’ll warn you - I am far too busy to continually bug you to see if you’re ready to start actively looking at homes. So, after we spend a few minutes discussing what you’re looking for and we are satisfied that the search system is doing its job, I’ll count on you to let me know when you see something worth taking our time to tour. And one more thing, I’m NEVER TOO BUSY to be there for you when you are ready. I love looking at property with my clients to sort through the possibilities on our way to finding your Dream Home.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit http://www.RealEstate-NashvilleTN.com/ or just give me a call. Dr. Gala Gorman at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Your Retirement Home in Middle Tennessee

You’d have to be living under a rock to completely escape the turbulence we are reminded of everywhere we turn today. Still, we know that everything in life has cycles and change is inevitable. In fact, I believe that we are defined by HOW we deal with change.

Aging is one of those inevitables that IS happening even as I write this. Hey, I can mask a few gray hairs but they’re still there! So, if you are among the millions of people that have retirement on their mind, you’ll be happy to know that making the choice to retire in Middle Tennessee is a wise one.

In fact, with nest eggs under attack by the declining economy, Forbes magazine recently ranked the Nashville area as the 10th best large metropolitan area to retire on a budget. The study considered housing affordability, inflationary pressures, and job prospects for the 20 percent (and growing) of those older than 65 who are still employed. Couple that with an attractive tax structure, gentle climate, and the beautiful landscape – those of us who already call Middle Tennessee home aren’t surprised to find that our “secret is out”.

In my last post, I discussed the factors that indicate that the real estate market is starting to show signs of turning around. So, if you’ve been thinking about your retirement home the current real estate market conditions are providing a great opportunity for you to set yourself up to really enjoy the “golden years”.

You can get the process started or just monitor the market by setting up a Property Alert on my web site using this link: http://www.RealEstate-NashvilleTN.com/Property-Alerts.asp When you see a home that interests you, just call or send an e-mail. I’ll be happy to answer any questions you have.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Pending Homes Sales News for Middle Tennessee Real Estate

Last week we had a bit of confirmation for what I’ve been hearing and seeing in the real estate market in recent months. Pending home sales are up over last year – in every area EXCEPT the south.

In places like California, Nevada, Arizona and Florida where the market increased so dramatically several years ago, prices have finally retreated to a point where they are an attractive investment again…regardless of what the stock market is doing. For investors that have plenty of cash, there are opportunities everywhere and they’re starting to take advantage of them.

What does that mean for us here in the Middle Tennessee real estate market?

Well, since home prices didn’t fluctuate out of control on the upside they haven’t on the downside either. The market is still slow but showing definite signs of improvement. In fact, properties that are in desireable areas and are priced right are being snapped up now after just a few days on the market.

And, I know personally from my own clients that there are thousands of families that have been ready to relocate to Middle Tennessee for a couple of years now and have been stuck where they are due to the real estate market stagnation. With real estate in other areas starting to move, plans that have been on hold can be reconsidered.

So, if you’ve been thinking about buying it’s time to start looking in earnest. If you would like to do your own investigation or monitor the market, I suggest that you set-up a Property Alert on my web site using this link: http://www.RealEstate-NashvilleTN.com/Property-Alerts.asp When you see something that interests you, just call or send an e-mail. I’ll be happy to answer any questions you have.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Lease vs. Buy Real Estate in Middle Tennessee

It’s been an interesting summer for the Middle Tennessee real estate market. While there was an increase in activity, inventory is still backing up and opportunities are everywhere if you know where to look.

I have been helping clients who believe they (for whatever reason) need some sort of seller financing. To be honest, this isn’t an easy road to take. The average seller doesn’t want to take the risk that they might end up getting the property back – and not in great condition. Investor sellers want a premium for creative financing and I am adamant that buyers I work with pay a realistic price based on TODAY’S market since we don’t really know how long it will be before we see significant increases again.

So, where does that leave you?

There are some reasonable opportunities for a lease purchase but I think an even better alternative is to seriously consider purchasing now. In fact, I just helped a family purchase a home when they were convinced that they needed to find a property with a lease purchase option. They still own a home (it’s currently rented) where they moved from. They were concerned that their credit wasn’t good enough or that their ratios wouldn’t work.

It required a bit of creativity, but I got them through the process and now they OWN the property – with a mortgage payment equivalent to what they would have paid on a lease purchase. The difference is that they receive all the tax benefits from Day 1. They paid over $10,000 less for the house, the deal required a lower down payment than a seller would have wanted for a lease purchase contract AND they don’t have to worry about the volatility in the financing market. They would have been left wondering if they could really get a loan in a year or two.

If you’re in the market for a new home, it is worthwhile to explore your options. I’ll be happy to answer any questions you have. Just call or send an e-mail. With a bit of information about your individual situation I can come up with a strategy that works to your benefit. Another reminder, I am a CPA and CFP® (accountant and financial planner) so I always want to make sure the deal makes good financial sense for all concerned.

If you would like to do your own investigation or monitor the market, I suggest that you set-up a Property Alert on my web site using this link: www.RealEstate-NashvilleTN.com/Property-Alerts.asp

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you are ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Buyers Getting Off the Fence in Nashville-Middle Tennessee

Well, I found the article I mentioned in the last post. It was in Forbes. Nashville was ranked the 3rd best place to buy a foreclosure property. Does that mean all buyers are ready to take on that kind of property? Probably not…and you can read why I feel this way in a previous post.

What does it mean for real estate buyers and sellers in the Nashville area of Middle Tennessee?

Investors typically buy foreclosures because they can require more financial commitment (and risk) than the average homebuyer is willing to make (or take). The good news is that with investors ready to open their checkbooks we should start to see some of the excess inventory disappear.

As the market returns to balance, sellers will be more optimistic and less willing to negotiate. If they’ve made it this far, they might as well stick it out…right!?? Prices will stabilize and eventually the market will return to its former levels. In my opinion, that will take 3 to 5 years.

So, if you’re a buyer that’s been sitting on the fence I would caution you to start thinking about taking the leap. There are opportunities today that would have been unheard of a couple of years ago.

I specialize in helping buyers negotiate with sellers for some sort of creative financing. There are lots of reasons why this might be necessary including a buyer being trapped in the home they’re moving from. It’s a win/win for everyone. The seller has virtual certainty that the home will be sold and the buyer locks in today’s prices.

If you’re wondering how this might work in your situation (whether you’re a buyer or seller), just give me a call or visit my web site and send me a request. With a bit of information about your individual situation I can come up with a strategy that works to your benefit. Another reminder, I am a CPA and CFP® (accountant and financial planner) so I always want to make sure the deal makes good financial sense for all concerned.

If you would like to do your own investigation or monitor the market, I suggest that you set-up a Property Alert on my web site using this link: Dr. Gala's Property Alerts

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you are ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit

Nashville Real Estate Sellers Use Creative Financing

We are definitely starting to see some movement in the real estate market again. Right now, it is primarily investors looking for (or creating their own) good deals. Still, it is a clear sign that some think we are nearing the bottom of this market adjustment…at least here in Middle Tennessee.

About six months ago (I can’t tell you exactly when because – darn it – I can’t find the article now), Nashville was ranked one of the top 10 markets for purchasing foreclosures.

What does that mean?

Well, most of us know that the market around here was never really overpriced. There was a bit of an overjealous increase in values but nothing like that seen in Florida, California, Arizona and Nevada. Unfortunately, we have been caught up in the mess to a degree due to the national media frenzy and lending criteria being a bit too lenient.

There are plenty of foreclosures on the market which is great for investors/buyers but not so good for the average home seller. However, with the strong economy here and desireable conditions for business, there is simply no long-term support for the stagnation we’ve experienced with our market.

What does that mean?

I believe that our market will recover much more quickly than others around the country. We will still have to work through an abundance of properties for sale and deal with issues related to financing but for those who are willing to “think outside the box” there are great opportunities.

In fact, I listed a beautiful home in Hendersonville for sale this week offering creative financing options. I’ve already had a number of people express interest. Remember, I am a CPA and CFP® (accountant and financial planner) so I always want to make sure the deal makes good financial sense for all concerned.

If you are at all interested in buying or selling in the next year and would like to monitor the market, I suggest that you set-up a Property Alert on my web site using this link: Property Alerts

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you are ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!

Nashville-Middle Tennessee Real Estate Data

It is no surprise that we are starting to hear that home prices are declining. Frankly, the story that home prices were holding steady was really just smoke and mirrors. The only reason that it has taken this long to realize the price declines is the fact that there is almost a year of unsold inventory on the market...not to mention all of those sellers that really want or need to sell and finally gave up.

You may be one of them. Virtually every buyer is a seller and vice versa (first-time homebuyers being the exception). You can’t afford to sell at the price someone would be willing to pay…either because you owe too much on the property or you wouldn’t walk away with enough to be able to purchase a new home that would improve your situation in some meaningful way.

The homes that are selling are not a good representation of the overall market and have affected the reliability of the data (in my opinion). Of course, you have to keep in mind that I am a CPA and CFP® (accountant and financial planner) as well. I am keenly in tune with the numbers.

So, what should you do? There is no easy answer. Opportunities definitely exist but you have to dig for them. When I’m working with a buyer in this market, I pull together all the data to attempt to understand what the seller’s position might be. Quite a bit of information is available, you just have to know where to look.

If you are at all interested in buying or selling in the next year and would like to monitor the market, I suggest that you set-up a Property Alert on my web site using this link: www.RealEstate-NashvilleTN.com/Property-Alerts.asp

The computer will send you regular updates with properties that match your criteria. When you see something that interests you, send me a note (every property has a direct link) and I’ll do some research for you. No pressure. No kidding. All I ask is that when you ARE ready to buy, you’ll allow me to help you work through the transaction.

If you’d like to talk further about how you can put my Nashville-Middle Tennessee Real Estate Services to work for you, visit www.RealEstate-NashvilleTN.com or give me a call at 615.498.4858. All Realtors® are not alike…let me prove it to you!