Eating Off the Floor - A "Relatively" Clean Commentary on Life

Downtown Nashville Condo Sales: October 2009 Market Report

Tue, 17 Nov 2009 14:00:23 -0600

Downtown Nashville Condo Sales: October 2009 Market Report

WOW - check out all of the downtown Nashville condo sales for the month of October 2009! 35!!!

Ranging in price from $64k to $434k, these condo sales reflect a couple of things: 1. the push towards the original ending date of the first time buyers tax credit and 2. the trend of living in downtown Nashville!

A large percentage of these downtown Nashville condo sales were at the Velocity in the Gulch, who cleverly offered to match the $8k tax credit as an incentive to purchase.

Here's the data:

Address	Sub/Dev	BR	Baths	Yr Blt	Stories	Sq Ft	List Price	SP/SF	Sales Price	DOM
946 1st Ave N	Riverfront Condo	1	1 / 0	1986	1.00	650	$61,900	$98.46	$64,000	11
952 1ST AVE N	RIVERFRONT CONDO	1	1 / 0	1986	3.00	630	$64,000	$95.24	$60,000	23
954 1St Ave N	Riverfront Condo	1	1 / 0	1986	1.00	630	$64,900	$103.02	$64,900	10
794 1st Ave N	Riverfront Condo	1	1 / 0	1986	1.00	630	$70,000	$109.52	$69,000	49
842 1st Ave N	Riverfront Condo	1	1 / 0	1986	3.00	650	$94,500	$129.23	$84,000	28
320 11th Avenue South #103	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$134,900	$304.51	$134,900	0
320 11th Avenue South #337	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$137,500	$310.38	$137,500	0
1032 9Th Ave N	Row 8.9 Condominiums	2	2 / 1	2002	2.00	1,340	$139,000	$103.73	$139,000	32
320 11th Avenue South #301	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$144,000	$325.06	$144,000	0
320 11th Avenue South #441	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$146,500	$330.70	$146,500	0
303 Criddle St(Harrison&3rd)	Harrison Square	1	1 / 0	2008	1.00	970	$153,900	$158.66	$153,900	126
700 Church St #403 (FURNISHED)	Bennie Dillon Condo	1	1 / 0	1926	1.00	786	$165,000	$199.75	$157,000	44
926 Woodland St. #308	East End Lofts	1	1 / 0	2007	1.00	736	$165,500	$214.54	$157,900	76
1803 Broadway	Bristol On Broadway	1	1 / 0	2005	1.00	630	$179,000	$257.14	$162,000	50
320 11th Avenue South #274	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$180,000	$406.32	$180,000	0
320 11th Avenue South #248	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$182,750	$412.53	$182,750	0
303 Criddle St (Harrison&3rd)	Harrison Square	1	1 / 0	2009	1.00	1,098	$189,900	$184.88	$203,000	121
320 11th Avenue South #207	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$189,900	$306.29	$189,900	0
320 11th Avenue South #247	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$190,400	$429.80	$190,400	0
320 11th Avenue South #425	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$190,800	$430.70	$190,800	0
320 11th Avenue South #132	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$199,400	$306.45	$190,000	115
320 11th Avenue South #312	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$199,400	$321.61	$199,400	0
320 11th Avenue South #112	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$203,950	$328.95	$203,950	0
320 11th Avenue South #108	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$208,400	$336.13	$208,400	0
415 Church St #2008	Viridian Condominium	1	1 / 0	2006	1.00	771	$219,900	$285.21	$219,900	73
320 11th Avenue South #456	Velocity in the Gulch	1	1 / 0	2009	1.00	710	$220,000	$309.86	$220,000	0
415 Church St Apt 2206	Viridian Condominium	1	1 / 0	2006	1.00	741	$225,000	$290.15	$215,000	60
1209 5th Avenue N	GERMANTOWN COURTS	2	2 / 1	2004	2.00	1,136	$234,000	$205.99	$234,000	129
320 11th Avenue South #428	Velocity in the Gulch	1	1 / 0	2009	1.00	710	$238,700	$336.20	$238,700	0
600 12TH AVE. S # 824	ICON in the Gulch	1	1 / 0	2008	1.00	817	$239,900	$283.97	$232,000	125
415 Church St. # 2003	Viridian	1	1 / 0	2006	1.00	735	$244,000	$312.93	$230,000	422
320 11th Avenue South #327	Velocity in the Gulch	1	1 / 0	2009	1.00	840	$273,700	$325.83	$273,700	0
1510 DEMONBREUN ST # 812	RHYTHM AT MUSIC ROW	2	2 / 0	2009	1.00	1,002	$299,900	$299.30	$299,900	173
320 11th Avenue South #114	Velocity in the Gulch	1	1 / 0	2009	1.00	840	$308,200	$366.90	$308,200	0
231 5TH AVE N #PH-503	Art Avenue Lofts	3	4 / 0	2008	2.00	2,166	$495,000	$200.37	$434,000	118
Average		1.14		2002	1.2	738	$190,108	$252.36	$186,245	51

The downtown Nashville condo sales were not shabby last month either!

If you are currently interested in purchasing a downtown Nashville condo, don't forget about the upcoming Terrazzo auction - it's an opportunity to purchase a Terrazzo condo at a fraction of the original price!

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If you are interested in selling or finding a home in Green Hills, Downtown, 12th South, or Oak Hill area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Downtown Nashville Condo Sales: October 2009 Market Report

Tue, 17 Nov 2009 13:59:21 -0600

Downtown Nashville Condo Sales: October 2009 Market Report

WOW - check out all of the downtown Nashville condo sales for the month of October 2009! 35!!!

A large percentage of these downtown Nashville condo sales were at the Velocity in the Gulch, who cleverly offered to match the $8k tax credit as an incentive to purchase.

Here's the data:

Address	Sub/Dev	BR	Baths	Yr Blt	Stories	Sq Ft	List Price	SP/SF	Sales Price	DOM
946 1st Ave N	Riverfront Condo	1	1 / 0	1986	1.00	650	$61,900	$98.46	$64,000	11
952 1ST AVE N	RIVERFRONT CONDO	1	1 / 0	1986	3.00	630	$64,000	$95.24	$60,000	23
954 1St Ave N	Riverfront Condo	1	1 / 0	1986	1.00	630	$64,900	$103.02	$64,900	10
794 1st Ave N	Riverfront Condo	1	1 / 0	1986	1.00	630	$70,000	$109.52	$69,000	49
842 1st Ave N	Riverfront Condo	1	1 / 0	1986	3.00	650	$94,500	$129.23	$84,000	28
320 11th Avenue South #103	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$134,900	$304.51	$134,900	0
320 11th Avenue South #337	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$137,500	$310.38	$137,500	0
1032 9Th Ave N	Row 8.9 Condominiums	2	2 / 1	2002	2.00	1,340	$139,000	$103.73	$139,000	32
320 11th Avenue South #301	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$144,000	$325.06	$144,000	0
320 11th Avenue South #441	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$146,500	$330.70	$146,500	0
303 Criddle St(Harrison&3rd)	Harrison Square	1	1 / 0	2008	1.00	970	$153,900	$158.66	$153,900	126
700 Church St #403 (FURNISHED)	Bennie Dillon Condo	1	1 / 0	1926	1.00	786	$165,000	$199.75	$157,000	44
926 Woodland St. #308	East End Lofts	1	1 / 0	2007	1.00	736	$165,500	$214.54	$157,900	76
1803 Broadway	Bristol On Broadway	1	1 / 0	2005	1.00	630	$179,000	$257.14	$162,000	50
320 11th Avenue South #274	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$180,000	$406.32	$180,000	0
320 11th Avenue South #248	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$182,750	$412.53	$182,750	0
303 Criddle St (Harrison&3rd)	Harrison Square	1	1 / 0	2009	1.00	1,098	$189,900	$184.88	$203,000	121
320 11th Avenue South #207	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$189,900	$306.29	$189,900	0
320 11th Avenue South #247	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$190,400	$429.80	$190,400	0
320 11th Avenue South #425	Velocity in the Gulch	1	1 / 0	2009	1.00	443	$190,800	$430.70	$190,800	0
320 11th Avenue South #132	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$199,400	$306.45	$190,000	115
320 11th Avenue South #312	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$199,400	$321.61	$199,400	0
320 11th Avenue South #112	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$203,950	$328.95	$203,950	0
320 11th Avenue South #108	Velocity in the Gulch	1	1 / 0	2009	1.00	620	$208,400	$336.13	$208,400	0
415 Church St #2008	Viridian Condominium	1	1 / 0	2006	1.00	771	$219,900	$285.21	$219,900	73
320 11th Avenue South #456	Velocity in the Gulch	1	1 / 0	2009	1.00	710	$220,000	$309.86	$220,000	0
415 Church St Apt 2206	Viridian Condominium	1	1 / 0	2006	1.00	741	$225,000	$290.15	$215,000	60
1209 5th Avenue N	GERMANTOWN COURTS	2	2 / 1	2004	2.00	1,136	$234,000	$205.99	$234,000	129
320 11th Avenue South #428	Velocity in the Gulch	1	1 / 0	2009	1.00	710	$238,700	$336.20	$238,700	0
600 12TH AVE. S # 824	ICON in the Gulch	1	1 / 0	2008	1.00	817	$239,900	$283.97	$232,000	125
415 Church St. # 2003	Viridian	1	1 / 0	2006	1.00	735	$244,000	$312.93	$230,000	422
320 11th Avenue South #327	Velocity in the Gulch	1	1 / 0	2009	1.00	840	$273,700	$325.83	$273,700	0
1510 DEMONBREUN ST # 812	RHYTHM AT MUSIC ROW	2	2 / 0	2009	1.00	1,002	$299,900	$299.30	$299,900	173
320 11th Avenue South #114	Velocity in the Gulch	1	1 / 0	2009	1.00	840	$308,200	$366.90	$308,200	0
231 5TH AVE N #PH-503	Art Avenue Lofts	3	4 / 0	2008	2.00	2,166	$495,000	$200.37	$434,000	118
Average		1.14		2002	1.2	738	$190,108	$252.36	$186,245	51

The downtown Nashville condo sales were not shabby last month either!

______________________________________________________________________________________

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville's Green Hills Area Condo Sales: October 2009 Market Report

Tue, 17 Nov 2009 13:34:11 -0600

Nashville's Green Hills Area Condo Sales: October 2009 Market Report

The Green Hills area of Nashville is proving itself to be a popular place to live with 18 condo sales for the month of October 2009!

During the month of September 2009 in Green Hills there were 15 condo sales, so we are up by 3 for October!

Here is the data:

Address	Sub/Dev	BR	Baths	Yr Blt	Stories	Sq Ft	List Price	SP/SF	Sales Price	DOM
3600 Hillsboro #C15	The Villager	1	1 / 0	1969	1.00	600	$115,000	$186.67	$112,000	32
1900 Richard Jones Rd Apt R8	Green Hills Terrace	2	2 / 0	1967	1.00	976	$115,900	$119.77	$116,900	66
3600 Hillsboro Pike Apt H5	The Villager East Co	1	1 / 0	1969	1.00	600	$123,000	$183.33	$110,000	20
5025 Hillsboro Pike Apt 14K	Georgetown Cond.	1	1 / 0	1969	1.00	771	$127,900	$160.18	$123,500	70
5025 Hillsboro Pike, #24K	Georgetown	1	1 / 0	1968	1.00	771	$129,000	$154.35	$119,000	75
1900 Richard Jones Rd Apt R6	Green Hills Terrace	2	2 / 0	1967	1.00	976	$144,900	$144.47	$141,000	43
1900 Richard Jones Rd T-6	Green Hills Terrace	2	2 / 0	1967	1.00	976	$147,900	$148.57	$145,000	30
334 Summit Ridge Cir	Four Seasons	2	2 / 1	1978	2.00	1,298	$165,000	$124.81	$162,000	27
419 Summit Ridge	Four Seasons	2	2 / 1	1978	3.00	1,298	$179,500	$124.81	$162,000	24
111 Hillsboro Pl	Hillsboro Place Cond	2	2 / 0	1984	1.00	1,257	$185,000	$133.65	$168,000	88
2709 Linmar Ave Apt 8	Linmar Place Condomi	2	1 / 1	1986	2.00	1,152	$189,900	$159.72	$184,000	93
703 Arkland Pl	Burton Hills-Village	2	2 / 0	1986	1.00	1,364	$202,800	$142.96	$195,000	71
212 Boxmere Pl	Burton Hills-Village	2	2 / 0	1985	1.00	1,187	$216,250	$182.18	$216,250	0
303 Ashlawn Ct	Burton Hills-Village	2	2 / 0	1986	1.00	1,343	$225,000	$157.11	$211,000	79
3325 Golf Club Ln	Golf Club Place Cond	2	2 / 1	1996	2.00	1,326	$226,900	$165.91	$220,000	62
4210 Hillsboro Pike Apt 203	Hillsboro Quarters	2	2 / 1	2005	2.00	1,405	$290,000	$202.85	$285,000	25
648 Timber Ln	Regency Park	3	2 / 1	1969	2.00	2,118	$329,000	$152.74	$323,500	3
2411 CRESTMOOR RD	The Whitney	3	3 / 0	2009	1.00	2,510	$977,000	$364.54	$915,000	155
Average		1.89		1979	1.4	1,218	$227,219	$178.30	$217,175	53

Burton Hills made the list three times (I love Burton Hills) and I see that there was a closing at the Whitney, a gorgeous new Green Hills condo complex.

If you are wondering if Green Hills is the right area of Nashville to live in, give me a shout - I grew up in Green Hills and still enjoy living here!

______________________________________________________________________________________

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville Area Oak Hill Home Sales: October 2009 Market Report

Tue, 17 Nov 2009 13:04:46 -0600

Nashville Area Oak Hill Home Sales: October 2009 Market Report

Well, Nashville, Oak Hill Homes Sales are down one sale from last month's report for a total of four home sales.

The price range for these Oak Hill home sales was $315k to $499k. Here are the results:

Address	BR	Baths	Yr Blt	Gar	Sq Ft	List Price	SP/SF	Sales Price	DOM
3501 Rainbow Pl	3	2 / 0	1941	1	2,124	$339,900	$148.31	$315,000	85
859 Pasadena Dr	3	2 / 0	1950	2	2,313	$369,500	$154.35	$357,000	18
831 Brentview Dr	3	2 / 1	1961	2	2,425	$425,000	$154.64	$375,000	58
848 Lakemont Dr	3	3 / 0	1986	2	3,677	$499,000	$135.71	$499,000	54
Average	3		1959	1.75	2,634	$408,350	$146.74	$386,500	53

There are currently 34 other homes for sale in Oak Hill, ranging in price from $299,900 to $5,950,000. One of them currently has a contract.

If you are considering selling your Oak Hill home in the upcoming months, then please know that there are ways to optimize your chances of getting your home sold! Price certainly has a LOT to do with that, but beyond price, the renovation of your home's major features (kitchen, master suite) will go a long way in getting the right buyer. And, to get them in the front door, take a good look at your curb appeal and make sure it looks inviting and well kept!

______________________________________________________________________________________

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Greater Nashville Association of Realtors Reports October 2009 Home Sales Up by 22.7% Over October 2008!

Mon, 09 Nov 2009 14:46:19 -0600

Greater Nashville Association of Realtors Reports October 2009 Home Sales Up by 22.7% Over October 2008!

It's true! Good news in the greater Nashville, Tennessee area for Home Sales! There were 2145 home sales in the month of October 2009, which is up 22.7% from the 1748 in October 2008.

We are, however, still down 18.4% from last year overall. The median price for a single family residence in October was $160,000, down from $170,000 in October of 2008. The median price for a condominium in October was $144,000 compared with last year's price at $152,500.

Another spot of good news is that the greater Nashville area is in a much more "balanced" range of inventory now at only an 8 month supply.

Let's keep that good news rolling in!

Here's the full report put out today by the Greater Nashville Association of Realtors...

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Home Buyer's Tax Credit Extended and Expanded: It's Official!

Fri, 06 Nov 2009 16:07:01 -0600

Home Buyer's Tax Credit Extended and Expanded: It's Official!

I just received an email explaining all of the details on the Homebuyer's Tax Credit, which has been extended and expanded to current homeowners.

According to Me, this is good news for current homeowners, who were previously left out of this tax credit. Perhaps this will encourage the middle part of the housing market to start moving! This is also good news for first time homebuyers, as they now have another five months to seal the deal on their first home (that is, if they can actually get approved for a mortgage and are disciplined enough to save).

For our economy, though, this seems like bad news. Where exactly are we getting all of this money from? Oh, wait, it's from people like me. And if I have any children, this money will come from them also.

And another gripe I have: If the government really wants to try to help out the American people and not just the banks, then why such steep regulations on who and how one can receive this money? For example, you have to make less than $125K (if you're single/less than $225K if you're married), you must have lived in your primary residence for 5+ years, and you can't buy a house for more than $800K. Oh, and there are SEVEN more stipulations concerning the home itself. I just don't get it.

The following is an email report from Tonya Esquibel, a mortgage broker here in Nashville that I like working with. The following email report came with instructions to "Copy and Paste as You Wish". So here goes:

Tax Credit for Homebuyers

First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the New Deadlines?

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

Tax Credit Versus Tax Deduction

It's important to remember that the tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

Higher Income Caps

The amount of income someone can earn and qualify for the full amount of the credit has been increased.

Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible

Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price

Qualifying buyers may purchase a property with a maximum sale price of $800,000.

------------------------

Remember, the new tax credit program includes a number of details and qualifications. For more information or answers to specific questions, please call or email me today.

In addition, you may be able to benefit from additional housing related provisions, including the following:

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Tax Incentives to Spur Energy Savings and Green Jobs

This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings

This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing

This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs. Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance

This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

As always, if you have any questions about your specific situation or would like to discuss how you may benefit from this program, please call or email me. I'll be happy to sit down with you.

______________________________________________________________________________________

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Downtown Nashville's Terrazzo Condominium Complex in the Gulch is having an Auction!

Mon, 02 Nov 2009 20:52:14 -0600

Downtown Nashville's Terrazzo Condominium Complex in the Gulch is having an Auction!

Yes, you read that right. Thirty (30) of these luxury downtown Nashville condos are going to be auctioned off on Saturday, November 21, 2009 at the Renaissance Hotel Nashville.

The starting bids will be $159K for a 900 square foot condo, going all the way to $399K for a minimum bid on a 2,090 square foot condo.

Previously I did a blog post on the Terrazzo Condominium Complex and, at the time, the starting price for one of these condos was $317K.

So, for any of you first time buyers who are still wanting to take advantage of the $8k tax credit, and for any others of you who are wanting to purchase in the Downtown Nashville Terrazzo in the Gulch Condominium Complex for a rock bottom price, then give me a shout and I can help you get signed up for an auction paddle!

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If you are interested in finding a condo in the Gulch area of downtown Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville's "City Paper" Reports that Mortgage Lenders in TN has Dropped by More than Half!

Fri, 30 Oct 2009 16:56:07 -0500

Nashville's "City Paper" Reports that Mortgage Lenders in TN has Dropped by More than Half!

I was perusing the Nashville City Paper and an article on mortgage lenders caught my eye. Apparently the number of mortgage lenders who are licensed in the state of Tennessee has DROPPED BY MORE THAN HALF over the last two years! That is an EXTREME number!

I won't quote the whole story to you since it is available online, but the gist of the story is that due to the drop in demand for housing and the new stricter standards for lending, there is simply not the need there previously was for these services.

This story also reports that a lot of these Nashville and other TN mortgage lenders needed to go, and I think we can all agree with that! Fraudulent and non-documented loans need to be gone for good! Newer, stricter regulations are also coming in 2010, according to the article, so we may see the number of Nashville and other TN mortgage lenders drop even further.

Here were the numbers given:

1. 2007 - 17,000 Licensed Originators in TN

2. 2009 - 7,824 Licensed Originators in TN

I want to give an opinion here. As a Realtor, I want to see a healthy housing market where homeowners are making gains on their homes and truly creating wealth for themselves. That would include a healthy number of mortgage lenders to accomodate the need. But, as a consumer, an American, and a human being, I believe FRAUD IS A BAD THING and I think we need to be mindful right now. Less credit debt is a good thing, money in the bank is a good thing as well, and an honest look at how we can improve our economy and our nation as a whole is also good!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Downtown Nashville Condo Sales: September 2009 Market Report Tells All!

Thu, 29 Oct 2009 22:06:23 -0500

Downtown Nashville Condo Sales: September 2009 Market Report Tells All!

In September 2009, condo sales in Downtown Nashville were definitely healthy! Just have a look at this market report!

Address	Sub/Dev	BR	Baths	Yr Blt	Sq Ft	List Price	SP/SF	Sales Price	DOM
848 1st Ave N	Riverfront Condo	1	1 / 0	1986	630	$68,900	$102.38	$64,500	22
510 Gay St Apt 904	Capitol Towers	1	1 / 0	1959	594	$79,000	$119.53	$71,000	69
510 GAY ST APT 908	CAPITOL TOWERS	2	2 / 0	1959	799	$99,900	$118.90	$95,000	110
320 11th Avenue South #301	Velocity in the Gulch	1	1 / 0	2009	419	$149,400	$343.68	$144,000	0
320 11th Avenue South #337	Velocity in the Gulch	1	1 / 0	2009	442	$152,400	$311.09	$137,500	0
415 Church St. #2307	Viridian	1	1 / 0	2007	648	$154,900	$238.43	$154,500	96
700 CHURCH ST APT 701	BENNIE DILLON CONDO	1	1 / 0	1926	600	$156,900	$258.33	$155,000	192
817 3RD AVE. N	DISTRICT LOFTS	1	1 / 0	2008	710	$159,900	$221.83	$157,500	74
700 Church St Apt 1203	Bennie Dillon Condo	2	1 / 0	1926	940	$164,900	$162.23	$152,500	48
320 11th Avenue South #247	Velocity in the Gulch	1	1 / 0	2009	543	$177,900	$350.64	$190,400	0
1803 Broadway	Bristol On Broadway	1	1 / 0	2005	630	$179,000	$257.14	$162,000	50
320 11th Avenue South #108	Velocity in the Gulch	1	1 / 0	2009	621	$193,750	$335.59	$208,400	0
320 11th Avenue South #112	Velocity in the Gulch	1	1 / 0	2009	621	$193,950	$328.42	$203,950	0
303 Criddle St(Harrison&3rdN)	Harrison Square	2	2 / 0	2008	1,307	$223,395	$168.32	$220,000	32
1209 5th Avenue N	GERMANTOWN COURTS	2	2 / 1	2004	1,136	$234,000	$205.99	$234,000	129
1803 BROADWAY #630	BRISTOL ON BROADWAY	1	1 / 0	2005	1,047	$249,888	$216.81	$227,000	218
415 CHURCH ST APT 2908	VIRIDIAN CONDOMINIUM	1	1 / 0	2006	771	$249,900	$304.67	$234,900	128
415 Church St Apt 2913	Viridian Condominium	2	2 / 0	2006	980	$260,000	$275.51	$270,000	4
320 11th Avenue South #327	Velocity in the Gulch	1	1 / 0	2009	840	$263,900	$325.83	$273,700	0
1510 Demonbreun St # 605	Rhythm At Music Row	1	1 / 0	2009	785	$267,500	$340.76	$267,500	0
1510 Demonbreun St # 801	Rhythm At Music Row,	2	2 / 0	2009	1,002	$333,698	$333.03	$333,698	0
1510 Demonbreun St # 503	Rhythm At Music Row	1	1 / 0	2009	995	$349,779	$351.54	$349,779	0
700 12th Ave South	Terrazzo	2	2 / 0	2009	1,103	$424,900	$385.22	$424,900	0
1510 Demonbreun St # 1507	Rhythm At Music Row	2	2 / 0	2009	785	$560,000	$713.38	$560,000	0
1510 Demonbreun St # 1108	Rhythm At Music Row	2	2 / 0	2009	785	$561,200	$714.90	$561,200	0
415 CHURCH ST. #3014 N	Viridian	3	3 / 1	2006	2,672	$1,000,000	$336.83	$900,000	63
Average		1.42		1996	861	$265,729	$301.66	$259,727	47

From the looks of it, Downtown Nashville Condo Sales were the greatest in these different Condo Complexes: Velocity in the Gulch, the Viridian and the Rhythm at Music Row.

The Velocity in the Gulch is starting to be a popular place to live, and since this past month they have been offering to match the $8k tax credit! Also, the brand new Rhythm at Music Row made a splash with four sales in their terrific location on Music Row! And don't forget about the Viridian, downtown Nashville's gorgeous condo highrise with tight security and unbelievable views from their location on Church Street!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville's Green Hills Area Condo Sales: September 2009 Market Report

Thu, 29 Oct 2009 21:25:53 -0500

Nashville's Green Hills Area Condo Sales: September 2009 Market Report

In September, sales were a little bit slower in the Green Hills Condo Market than the previous booming August month! But there were still people moving into condos! Have a look:

Address	Sub/Dev	BR	Baths	Yr Blt	Sq Ft	List Price	SP/SF	Sales Price	DOM
1900 Richard Jones Rd, #B212	Green Hills Terrace	1	1 / 0	1967	625	$118,000	$182.40	$114,000	94
3600 Hillsboro Pike, #G-14	VILLAGER EAST	1	1 / 0	1969	600	$118,900	$186.67	$112,000	61
360 Summit Ridge Cir	FOUR SEASONS	1	1 / 0	1978	773	$125,900	$161.71	$125,000	39
2116 HOBBS RD # I12	HOBBS HOUSE COND.	1	1 / 0	1968	705	$126,900	$180.00	$126,900	107
412 Summit Ridge Place	Four Seasons	1	1 / 0	1978	716	$127,900	$178.63	$127,900	1
228 Summit Ridge Dr	Four Seasons Condomi	1	1 / 0	1978	716	$132,900	$185.61	$132,900	54
1900 RICHARD JONES RD APT F4	GREEN HILLS TERRACE	2	1 / 0	1967	862	$136,000	$145.01	$125,000	106
5025 HILLSBORO PIKE APT 15S	GEORGETOWN COND.	2	2 / 0	1969	1,542	$182,500	$115.92	$178,750	187
2097 Graybar Ln Apt B1	Graybar Manor	2	2 / 1	1969	1,296	$185,000	$138.89	$180,000	70
5025 HILLSBORO PIKE APT 8D	GEORGETOWN COND.	3	2 / 0	1969	1,410	$190,000	$131.21	$185,000	176
3000 Hillsboro Pike #123	Versailles	2	2 / 0	1967	1,343	$199,900	$144.08	$193,500	36
3198 Hillsboro Road	The Claridge	2	2 / 0	1982	1,157	$209,000	$173.73	$201,000	315
2087 STOKES LN	FAIRSTED PARK CONDOS	2	2 / 0	1996	1,228	$214,900	$146.82	$180,300	117
240 WESTCHASE DR	WESTCHASE	2	2 / 1	1982	1,636	$259,000	$151.28	$247,500	114
4210 HILLSBORO PIKE APT 207	HILLSBORO QUARTERS	2	2 / 1	2005	1,463	$279,000	$183.87	$269,000	148
Average		1.67		1976	1,071	$173,720	$155.54	$166,583	108

Nashville's Green Hills continues to be a place that people want to live, with its easy access to interstates, dining, shopping and relative safety. Go Green Hills!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville Area Oak Hill Home Sales: September 2009 Market Report

Wed, 21 Oct 2009 18:08:00 -0500

Nashville Area Oak Hill Home Sales: September 2009 Market Report

Well, here's my gripe of the day... I actually ALREADY did this market report back a couple of weeks ago, but then whatever server for whatever machine that ActiveRain is on deleted it, and I was too upset to put it back up (none of it was saved).

So September's Market Report for the Oak Hill Subdivision of Nashville, TN comes a bit on the late side this month!

Let's dive right into it:

Address	Sub/Dev	BR	Baths	Yr Blt	Gar	Sq Ft	List Price	SP/SF	Sales Price	DOM
3613 Rainbow Pl	Oak Hill	3	2 / 0	1945		2,271	$389,500	$164.02	$372,500	39
5338 GREEN VALLEY CT	OAK HILL ESTATES	4	3 / 0	1980	2	2,556	$414,900	$162.75	$416,000	101
807 FOREST ACRES DR	OAK HILL	3	3 / 1	1951	2	2,689	$468,000	$163.63	$440,000	99
5053 Villa Crest Drive	Oak Hill	4	3 / 1	1965	4	2,984	$489,000	$160.86	$480,000	28
774 Peach Orchard Drive	Oak Hill	4	4 / 1	2007	2	4,331	$679,000	$144.42	$625,500	344
Average		3.6		1969	2.5	2,966	$488,080	$157.38	$466,800	122

5 Sales, ranging in price from $372K to $625K.

If you missed out on buying an Oak Hill home in September, though, fear not! There are still 37 other homes on the market in Oak Hill, two with contracts, ranging in price from $299K to over $5M.

As I have said before, I LOVE living in the Oak Hill area of Nashville, TN - it's where I grew up - I love the large yards and spacious homes - some old and some new - but all with character!

See you next month!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Madison, TN's Finest New Listing - 228 Slayton Drive!

Thu, 08 Oct 2009 19:01:28 -0500

Madison, TN's Finest New Listing - 228 Slayton Drive!

Let me introduce you all to my newest listing, 228 Slayton Drive! Located in Madison, TN, this property was built in 1979. With 3 Bedrooms and 1.5 Baths, this renovated home sits on nearly a half acre (0.49 acres)!

The current owner called this her first home when she purchased it in 1983. Over the past 26 years, she has taken good care of the house, resolving any issues quickly and has used professionals!

Let's take a look inside!

When you walk in the front door, the first thing you see is the living room. At 13 x 21 in size, there is ample room for furniture, and also a wood burning fireplace for those cool Fall and Winter nights!

Here is a closeup of the mantle, which was lovingly handmade by the owner:

The heart of this home, however, is the kitchen. Fully renovated, this is the type of kitchen where families and friends can hang out together and enjoy each others' company! Have a look at the new tile, new ceiling fan, new countertops and new Stainless Steel appliances! The new owners are REALLY going to enjoy this kitchen!!

You may have noticed the door in the previous photo? This door leads to the laundry room, which has new lighting, tile, fresh paint and shelving!

So now, on to the bedrooms...

What struck me about this house as different from others is simply how spacious every room was. Two bedrooms are on the main level and from the following pictures I hope you will be able to tell how generously sized the rooms are at this home for sale in Madison, TN.

Here's the Master Bedroom, which is 14 x 16 and boasts a half bath and a walk-in-closet!

Here's the Half Bath with a new vanity countertop, new toilet and fresh paint (did I really just say new toilet? - well it is!)!

And the Walk-In-Closet...

Bedroom #2 is also large at 10 x 19! It has an extra large closet with bi-fold louvered doors, is adjacent to the full bath, has been painted and has a new ceiling fan in it!

Here's a shot of the other side of Bedroom #2- I am standing where the bed is...

Now onto the GUTTED TO THE STUDS Full Bath! The renovation of this bathroom really came out well! A new shower, toilet, vanity countertop, as well as new sub-floor, new vinyl, new light and plumbing fixtures and a fresh coat of paint!

Now, onto the downstairs, where there the third bedroom is...

This bedroom has a sleeping area and a play area, plus a large under-the-stairs closet!

And last, but not least, the yard!

Fully Fenced!

Here are the specifics, at a glance, to this Madison, TN home for sale:

Approximately 1527 square feet
3 Bedrooms
1.5 Baths
Fully Renovated
Full Unfinished Basement with Expansion Potential
One-Car Garage
Half Acre Lot (0.49 acres)
Fully Fenced Back Yard
This home can go FHA or VA and will also help the First Time Buyer get their $8000 Tax Credit
Taxes are $1,200 Per Year
Schools are Old Center Elementary, Brick Church Middle School and Hunters Lane Comp High School

This house for sale in Madison, TN is what I like to call a PERFECT 10!

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If you are interested in finding a home in Madison or in the Green Hills / David Lipscomb area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

September 2009 Home Sale Statistics from the Greater Nashville Association of Realtors

Thu, 08 Oct 2009 17:51:51 -0500

September 2009 Home Sale Statistics from the Greater Nashville Association of Realtors

This just in from the Greater Nashville Association of Realtors (GNAR) - I am quoting this verbatim:

There were 1,935 home closings reported for September, which is down 6.7 percent from the 2,075 closing reported in September of last year.

Third quarter closings were at 6,213 for 2009, down 9.1 percent from the 6,836 closings during the third quarter of 2008.

Year-to-date closings are 15,453, compared with 19,833 through September of 2008, which is a decrease of 22.1 percent.

There were 2,120 sales pending at the end of September and the average number of days on the market for a single-family residence was 86.

The median price for a single-family home was $160,000 in September, while the median price for a condominium was $142,500. That compares with median prices of $168,900 for single-family homes and $148,500 for condominiums in September of 2008.

Inventory is at 23,975 properties, compared with 24,270 available at the end of September last year. Single-family inventory is actually down and condominium inventory is nearly the same amount as was available at this time last year. Multi-family and farm/land/lot inventory continues to be higher than last year's levels.

For complete Nashville Home Sale Statistics from the Greater Nashville Association of Realtors, get clicky here!

This Nashville housing market is tough!

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If you are interested in finding a home in the Green Hills / David Lipscomb area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville Symphony, Giancarlo Guerrero and Pianist Lang Lang: EXCEL!!! Nashville Symphony Graphic Designers/Editors: FAIL!!!

Sun, 27 Sep 2009 12:52:09 -0500

The Nashville Symphony, Giancarlo Guerrero and Pianist Lang Lang: EXCEL!!! Nashville Symphony Graphic Designers/Editors: FAIL!!!

I had the distinct pleasure of being taken to Opening Night at the Nashville Symphony last Friday night. My bf Ben had surprised me with tickets and I was particularly pleased that the fabulous Chinese pianist, Lang Lang, was going to be performing Beethoven's Concerto No. 3 in C minor! In fact, it was an all-Beethoven night.

The Nashville Symphony, performing in their gorgeous and relatively new Schermerhorn Symphony Hall, opened with the Leonore Overture No. 3, Op. 72a. I was not familiar with this piece, and actually for a good reason! This Leonore Overture was the second overture written for Beethoven's Fidelio (the only opera ever written by Beethoven), and was used at the opera's first revival in 1806. While this overture, along with two others, did not end up being the one ultimately selected, it was a beautiful piece to begin Friday evening's concert with!

Giancarlo Guerrero did a wonderful job conducting the Nashville Symphony and as soon as the Leonore Overture was complete, the musicians re-arranged themselves and made way for the Steinway grand piano to come up from below the stage.

Lang Lang's performance was spectacular! As a pianist myself with a music degree in Piano Performance, I have to admit that it takes a REALLY SPECIAL PERFORMER to pique my interest. Lang Lang exceeded all of my expectations. I even found tears coming to my eyes in different parts of the Largo movement. His ability to play softly blows my mind. Also, his ability to play within the standard Classical style while still exuding passion and excitement for the Beethoven Concerto No. 3 in C minor was simply exquisite.

Our audience seemed to agree. With four ovations, Lang Lang was persuaded to play an encore of one of my favorites, the "Aeolian Harp" Etude by Chopin, Op. 25 No. 1. It was equally gorgeous and then the star set himself up in the lobby of Schermerhorn Symphony Hall and signed autographs! Too fun! I got this picture of him...

I know I should mention Beethoven's 'Eroica' Symphony No. 3 in E-flat major, which followed Lang Lang's performance and was marvelous again under Giancarlo Guerrero's conducting! I must say, though, my thoughts were completely on the exhilarating performance of Lang Lang and it was difficult to focus!!!

Thank you Nashville Symphony directors and board for bringing Lang Lang to Nashville! He was amazing and this native Nashvillian left very inspired - I went home and practiced!

On a separate note, I am a bit peeved about the front of the InConcert performance notes booklet - they have the grand piano turned the wrong way - did anybody else notice this or just me? It's embarrassing, to say the least, and my hats are NOT OFF to the graphic editors who slipped up on this.

That's my only gripe. Just sayin'.

Take it away, Lang Lang!!! Please come back and soon!

______________________________________________________________________________________ If you are interested in finding a home in the Green Hills, Downtown, 12th South, or Oak Hill area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Hey Nashville! Green Hills Kroger has Red Box!

Sun, 27 Sep 2009 12:32:13 -0500

Hey Nashville! Green Hills Kroger has Red Box!

This post is definitely going to be short and sweet!

Being a creature of habit, I shop for groceries at the Green Hills Kroger. Always have. My mother shopped there with me as a child and I guess some habits are just hard to break!

I don't know when they started doing this, but Red Box has appeared at the Green Hills Kroger! Here's my proof:

Does anyone know if ALL of the Nashville area Krogers put in Red Box or if it is just the Green Hills location?

A big "YAY" to the Green Hills Kroger - Red Box is a big plus there!

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If you are interested in finding a home in the Green Hills area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Want Luxury Condo Living in Nashville's "Gulch" Area? Terrazzo Offers the Finest!

Wed, 16 Sep 2009 15:57:28 -0500

Want Luxury Living in Nashville's "Gulch" Area? Terrazzo Offers the Finest!

Looking for upscale, luxury living in a trendy area of Nashville? Then look no further than Terrazzo, one of Nashville's newest luxury condo complexes! Located in the Gulch, Terrazzo condos range in price from $317K to $1.6M.

Having seen most of what Nashville's Gulch area has to offer real estate wise, I can tell you that what immediately sets Terrazzo apart from the other condos is the design layout. These condos FEEL LARGE and the 885 minimum square footage on a Terrazzo condo is wonderful!

Of course, you are going to pay for this square footage in both the price and the HOA fee. At $.35 per heated square foot, you will be paying $309.75/month in addition to your mortgage (if you have one). But with this cost comes a secured parking garage, 24-hour security and concierge, a fitness center, a heated lap pool and all exterior maintenance!

Terrazzo Condos also boast 11'+ tall ceilings, Italian cabinetry, floor to ceiling windows and private terraces. I love the exposed concrete in these as well - they really add to the whole upscale urban flair of these luxury condos!

And talk about variety! There are 26 different floor plans to choose from!

It's a good thing that these condos spoke for themselves, because the touring agent did not give me a lot of materials with pricing on them, even though I wanted them!

Here's a look at the exterior of the Terrazzo:

Pictures of the Lobby:

Inside the model, this kitchen was to-die-for!

The bedroom was nice and large...

Nice, deep soaking whirlpool tub!

Double vanities and a separate tile shower are the luxury items that set Terrazzo apart!

Custom closets...

The living area had dramatic views of Nashville! And I love the exposed concrete ceilings and walls, the bamboo flooring...

In the model, there was also a space to work in!

Here is one last photo of the kitchen in another, smaller unit:

In summary, Nashville's luxury condo complex Terrazzo, located in the Gulch, was well worth the visit - offering upscale living in an urban setting!

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If you are interested in finding a home in the Gulch area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Is Your Short Sale or Loan Modification Being Turned Down?

Tue, 15 Sep 2009 10:54:22 -0500

Wanted to share this post - reasons for your loan modification being turned down - it's VERY CLEAR and also VERY DISTURBING.

Via Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.):

Has your short sale or loan modification been turned down and you have no idea why? Let's examine some of the reasons. These reasons may not make you feel any better or maybe they are just excuses by your lender, however there are a few things you may not even know about your loan.

Let's say that you make your mortgage payment to Wells Fargo. You can no longer handle your payments so you ask Wells Fargo to modify your loan- to do a loan modification for you. You are behind in your payments. You are in fact, in foreclosure but you are still living in your home and the judge in your case has not ordered the sale of your home at auction yet. You are scared. You see your neighbors losing their homes all around you. You are hopeful because you see on the news and in the newspapers that the Federal Making Homes Affordable Program has been helping some folks keep their home and get a loan modification.

You are no longer making your mortgage payment because your adjustable rate has been applied and your mortgage payment has gone from $1600 a month to $2300 per month. You just can not make these payments. You have been trying for almost 2 years now to get Wells Fargo to approve your loan modification. You even hired an attorney to help you with your foreclosure defense.

Wells Fargo turns down your loan modification request. You wonder, how could this be? After all, Wells Fargo is one of the large lenders and is participating in the government's Federal Making Homes Affordable program.

But Wells Fargo tells you that the investor is the one that will not allow you to get a loan modification. What in the world is an investor doing making decisions on your loan you wonder. Well, you are not alone in your confusion. Every day we are explaining the whole mortgage note owner thing to buyers agents, real estate agents and homeowners.

Just because you make your house payments to Wells Fargo does not mean they own that note that you are paying on. They are the servicer. Other words you will hear them called are asset management companies.

The very first thing you need to do before you ask for a loan modification is to find out who actually owns your note. You can do this by calling who you make your mortgage payments to and asking them.

If it is Freddie Mac or Fannie Mae that own your note- you have a much better chance at getting your loan modification approved if you qualify. If it is a private group of investors, your chances go way down. Why would this happen?

One in eight homeowners' loans were sold to investors on Wall Street. What happens is that a bunch of loans are packaged together. These are called mortgage-backed securities. They are then sold off to investors. Homeowners who have mortgage-backed securitized loan are five times more likely to be late on their house payments. Many of these borrowers were given loans they were not qualified for from the beginning. Many of the homeowners getting these loans did not read the fine print and did not realize how high their mortgage payments might go when adjusted.

The rules to allow modifications, short sales and terms of foreclosures and deficiencies are ambiguous at best. Homeowners who are told no by the investor have little recourse.

The federal Making Homes Affordable program lenders who participate in the program must modify all homeowners that qualify. The exception is when the investor has a rule that they do not allow modifications.

The Federal Housing Finance Agency reported to Congress on June 3rd that these securitized mortgages are a "hurdle" to the success of the Making Homes Affordable program. The treasury department has not disclosed why the modifications are denied so there are little to no facts to go on.

Why would the investors say no to your loan modification? Well, Wells Fargo's response is that the investors need their money. Wells Fargo has one situation where the borrowers ( the homeowners) are trying to get their loan modified but Goldman Sachs is the issuer and Deutsche Bank is the trustee. But when you go and talk to these investors and we have on several occasions when doing short sale negotiations for our sellers; the investor passes the buck back to the servicer. For instance, Deutsche Bank says that Wells Fargo is solely responsible for the decision to modify a loan or not.

Some people say that the investors are the scapegoats. Everything can easily be blamed on them. Since you rarely get to speak to anyone at the investors' group it is hard to tell who is telling the truth. In this particular situation Wells Fargo is saying that the investor is not forgiving the past due debt and that makes the payment go up on a loan modification because then Wells Fargo would have to put that past due balance along with all the penalties and fees into the loan modification which then may cause the homeowner to not qualify financially for the loan modification.

Servicers have agreements, contracts that they sign with investors. These agreements contain the rules for modifications. These agreements are called Pooling and Servicing Agreements which is known as PSA's. The PSA is most often what the servicer says is the reason for them not being able to do the loan modification or release the deficiency on a short sale.

But when you talk to other people in the management areas or to the investors they claim that there is nothing in the PSA's that would prevent the servicer from approving loan modifications, short sales and releases. There is a new study coming out from a law school wherein they state that only 8% of these mortgage-backed securities agreements contain any language that says the servicer is not allowed to do a loan modification for these notes. That means that about 92% of all the NO's; could actually be YES's. So why would that even happen?

Fear of law suits! The language in the PSA in question here, Wells Fargo and Deutsche Bank- it says that Wells Fargo can "waive, modify or vary any term" as long as Wells Fargo as the servicer makes a "reasonable and prudent determination" that the modification is in the investor's best interest. Attorneys examining these agreements say there is quite a bit of room for servicers to make these decisions. But the language itself in this agreement is enough for the servicers legal counsel to be concerned with the investor suing them for not acting in the best interest of the investor. They can not, no matter how inhumane this sounds, put the homeowner ahead of the investor. This is about business and if they want business from investors they need to make sure they are looking out for the interests of the investors.

The treasury department has stated that the fear of law suits is the biggest deterrent to getting the servicers to approve loan modifications and short sales. So doing little or simply turning down the loan modifications are the answer many servicers choose. This is not personal and this is not against you, the homeowner. The position of the servicers is to watch their own backs and to protect the assets to which they have been entrusted with, your mortgage-backed security. The Treasury Department says they can relieve some of the pressure of the fear of lawsuits by standardizing requirements for loan modifications and also provide some type of calculation to figure out if the investor will make more money by the loan modification or by the foreclosure.

We need to keep in mind one big thing in all of this and that is that these investors end up being regular people because most of these mortgage-backed securities were bought by pension funds and retirement plans of folks like your parents or even yourselves. You may well be one of the shareholders of the very loan you can not pay.

T o view Florida Short Sales- Click here . We know Palm Beach County Short Sales and Port St Lucie Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida : Call us today.

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Is Your Short Sale Or Loan Modification Being Turned Down?-was first published on South- Florida-Luxury-Living.com.

Copyright © 2009 By Katerina Gasset, All Rights Reserved.*Is Your Short Sale Or Loan Modification Being Turned Down?*

Downtown Nashville Living! Velocity in the Gulch!

Mon, 14 Sep 2009 16:49:43 -0500

Downtown Nashville Living! Velocity in the Gulch!

Yesterday I had the pleasure of touring some of the newest condos available in Nashville! Some friends of mine who were both considering selling their homes wanted to know what it would be like to live in the Gulch! So we headed out for lunch first at Urban Flats and then went to see Velocity in the Gulch.

I have to say that I was impressed! This is a mid-rise urban style condo complex with a workout facility, rooftop terrace and 25,000 square feet of retail space.

I really liked the fact that the condos are LEED certified SILVER. They use materials like cork flooring and 50% recycled materials flooring, sustainable countertop products and low-flow plumbing fixtures. Along with storm water runoff management systems, native plantings and Energy Star appliances and systems, these products can make you feel good about what you are purchasing and where you are living!

Velocity in the Gulch is located in Nashvilleon 11th Avenue, just at the corner of Pine and 11th. The price ranges from $133K-$315K. There are two plans which qualify for affordable housing! They range in size from a 440 square foot studio to over 1200 square feet and 2 bedrooms/2 bathrooms! One parking spot is included in the price of each condo. There are storage units onsite also which can be rented. And, if you have out of town company, there is a condo which can be reserved for your guests for the price of cleaning! The Homeowner's Association Fee is approximately $.27 per square foot.

Here is what the condo complex looks like on the exterior.

The Lobby is very open and adjacent to an interior courtyard.

This is what the model unit looked like!

At Velocity in the Gulch, all of the ceilings on the first level are 15' tall!

Complete view of the kitchen - very cool!

Exterior patio with access to the sidewalk...

This rooftop terrace made me wonder where I was - reminded me of Miami or Los Angeles - there is a skyline view of Nashville, iPod docking station, fireplace, water feature and they are putting in a grill as well! The easy life at Velocity in the Gulch!

I just took this picture because I wanted you to be able to see the modern features of the bathrooms, complete with glass tile and recycled content countertops!

If you have been thinking about wanting to live in the Gulch, you really may want to check out this mid-rise condo complex. Velocity in the Gulch offers a modern yet sustainable living option, one of Nashville's first! AND, until the end of October, Velocity in the Gulch is offering a $10K IKEA and ModerNash package that will help you furnish your new condo!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Eight Ways to Commemorate the Tragedy of September 11, 2001

Fri, 11 Sep 2009 17:23:58 -0500

Eight Ways to Commemorate the Tragedy of September 11, 2001

This is the 8th anniversary of the devastating attacks of September 11, 2001 and I thought a good way to remember those fallen would be to think of 8 ways to commemorate this tragic event.

So here they are - pick one to do if you like or do something else that seems appropriate:

8. Fly an American Flag. This one may be obvious, but our flag is a symbol of comfort to many and a reminder of what we are all about!

7. Sing some Patriotic Songs. Don't know any? Learn some! Feel proud to be an American!

6. Call Your Loved Ones. Tell them what they mean to you. We definitely don't do this often enough and a tragedy like 9/11/01 is a reminder that we don't know how much time we have left!

5. Plant a Tree. You can purchase a small tree for usually around $15-$20 at places like Home Depot. Or you can call me and I WILL GIVE YOU A SEEDLING. You don't have to plant it in your yard... you can plant it in a public park or at a public school or even in the projects (with the correct permission of course). Dedicate the tree to the memory of those who died as a result of the September 11 attacks.

4. Spend Some Money Tonight. Do something good for our economy - pump some money into it. Let's prove to the terrorists that OUR NATION WILL NOT FAIL!!!

3. Take Cookies to Your Local Firehouse and Say THANK YOU. We definitely don't thank these people nearly enough for risking their lives to ensure the safety of our community!

2. Volunteer to Help in Some Capacity. Our communities need us. There are ENDLESS opportunities to get involved and make a difference in the lives of those less fortunate.

1. Take a Moment and Reflect. THINK ABOUT WHAT HAPPENED ON SEPTEMBER 11, 2001. Reflect on what has happened since then. Think of our BRAVE SOLDIERS fighting for our freedom. Be grateful for the freedom that we have in this AMAZING COUNTRY!

Middle Tennessee Real Estate Statistics for 2009

Fri, 11 Sep 2009 16:45:43 -0500

Middle Tennessee Real Estate Statistics for 2009

Every once in a while I take a look on Manier and Exton's website because they post really great data on home sales and absorption rates in the Middle Tennessee Real Estate Market.

I want to share their most recent Nashville and Middle Tennessee real estate statistics with you!

This first one goes over the average sales price in the different areas of Middle Tennessee. Whether you live in Nashville, Brentwood, Franklin or the surrounding areas, you should be able to find your neighborhood on this report!

The second report covers the number of home sales that we have had in 2009. Along with this, the chart covers the current inventory rate. For example, in Green Hills, where I currently live, we have 13.6 months of inventory on the market. This means that it will take over a year to sell the homes currently listed in Green Hills, not including any other homes that may be listed for the rest of the year. Yikes!

The last report gives us an idea of how long the average home sale takes in each area of Middle Tennessee. Again, using Green Hills as my example, the average time it will take to sell a house in Green Hills is 112. I do want to point out, though, that different parts of these areas may take longer or less to sell! In my area of Green Hills, right around David Lipscomb University and Oak Hill, it is currently taking 54 days to sell a home. This is significantly less than the statistics that Manier and Exton report.

Remember... REAL ESTATE IS LOCAL!!!

If you would like more accurate statistics on your particular neighborhood in Middle Tennessee, please feel free to ask me and I will be happy to help!

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If you are interested in finding a home in Green Hills, Downtown, 12th South, or Oak Hill area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Downtown Nashville Condo Sales: August 2009 Market Report - Alive and Kicking!

Mon, 07 Sep 2009 12:43:51 -0500

With an average price of under 200K for a downtown Nashville condo, these babies were flying off the shelves in August 2009!

The ICON in the Gulch was a popular pick for many in Davidson County in August - they do have a condo that can be purchased for 150K if your earnings qualify for this rate. Several of these condos were sold!

I noticed also that the Rhythm at Music Row also sold a couple of their condos this month - these are GORGEOUS!!!

And the EXTREMELY AFFORDABLE Riverfront Condos did well this month too!

Address	Sub/Dev	BR	Baths	Yr Blt	Sq Ft	List Price	SP/SF	Sales Price	DOM
1018 1St Ave N	Riverfront Condo	1	1 / 0	1986	650	$59,900	$69.23	$45,000	7
1016 1ST AVE N	RIVERFRONT CONDO	1	1 / 0	1986	650	$59,900	$84.62	$55,000	41
510 GAY ST APT 1005	CAPITOL TOWERS	1	1 / 0	1959	590	$63,500	$93.22	$55,000	157
850 1ST AVE N	RIVERFRONT CONDO	1	1 / 0	1986	650	$64,900	$90.00	$58,500	63
600 12th Avenue South	ICON	1	1 / 0	2008	620	$139,900	$241.77	$149,900	0
700 Church St Apt 307	Bennie Dillon Condo	1	1 / 1	1926	778	$139,900	$179.82	$139,900	34
600 12th Avenue South	ICON	1	1 / 0	2008	614	$149,500	$244.14	$149,900	0
600 12th Avenue South	ICON	1	1 / 0	2008	671	$149,900	$223.40	$149,900	0
600 12th Avenue South	ICON	1	1 / 0	2008	614	$151,300	$269.38	$165,400	0
600 12th Avenue South	ICON	1	1 / 0	2008	657	$155,050	$231.35	$152,000	0
638 2ND AVE S	RUTLEDGE HOUSE CONDO	2	1 / 0	1987	929	$159,900	$161.46	$150,000	145
600 12th Avenue South	ICON	1	1 / 0	2008	620	$160,285	$258.52	$160,285	0
1803 Broadway #226	Bristol on Broadway	1	1 / 0	2005	768	$185,000	$227.86	$175,000	87
600 12th Avenue South	ICON	1	1 / 0	2008	614	$186,500	$312.01	$191,575	0
415 CHURCH ST #2303	VIRIDIAN CONDOMINIUM	1	1 / 0	2006	735	$195,000	$255.10	$187,500	50
807 18TH AVE S APT 211	EIGHTEENTH AVE, THIR	1	1 / 0	2005	865	$199,900	$213.87	$185,000	306
301 Demonbreun	Encore	1	1 / 0	2008	718	$209,900	$277.16	$199,000	139
600 12th Avenue South	ICON	1	1 / 0	2008	844	$240,000	$284.36	$240,000	0
309 Church St #501	Exchange Lofts	2	2 / 0	2005	1,200	$299,900	$220.83	$265,000	75
600 12th Avenue South	ICON	1	1 / 1	2008	945	$315,000	$333.33	$315,000	0
600 12th Avenue South	ICON	1	1 / 1	2008	945	$315,000	$337.57	$319,000	0
600 12th Avenue South	ICON	1	1 / 1	2008	945	$325,000	$343.92	$325,000	0
1510 Demonbreun St # 801	Rhythm At Music Row,	2	2 / 0	2009	1,002	$333,698	$333.03	$333,698	0
1510 Demonbreun St # 503	Rhythm At Music Row	1	1 / 0	2009	995	$349,779	$351.54	$349,779	0
305 Church St. #301	Church Street Lofts	2	2 / 0	2006	1,650	$349,900	$202.36	$333,900	246
	Average	1.16		1998	810	$198,340	$239.52	$194,009	54

If you live in Davidson County and are wanting to move closer in to Downtown Nashville, and if you think a new luxury condo might be the right place for you, then what are you waiting for? There is so much to see!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville's Green Hills Area Condos: August 2009 Market Report!

Mon, 07 Sep 2009 11:37:31 -0500

This month in Nashville: the Green Hills Condo Sales were healthy again!

A very desirable area of Davidson County to reside in, Green Hills offers a variety of shopping, night life and eateries with the convenience of being just 10-15 minutes south of downtown and even less than that to Hillsboro Village, Vandy, Belmont and Music Row!

This month's 37215 real estate condo sales shows the popularity of Green Hills very well! Have a look!

Address	Sub/Dev	BR	Baths	Yr Blt	Stories	Sq Ft	List Price	SP/SF	Sales Price	DOM
1900 RICHARD JONES RD APT B203	GREEN HILLS TERRACE	1	1 / 0	1967	1.00	625	$111,900	$176.00	$110,000	94
1900 RICHARD JONES RD APT B207	GREEN HILLS TERRACE	1	1 / 0	1967	3.00	625	$114,900	$181.60	$113,500	89
5025 HILLSBORO PIKE, #24-Y	GEORGETOWN	1	1 / 0	1969	1.00	832	$139,900	$156.13	$129,900	100
431 Summit Ridge Place	Four Seasons	2	2 / 0	1978	1.00	963	$151,500	$155.76	$150,000	19
2116 Hobbs Rd Apt M1	Hobbs House Cond.	2	2 / 0	1968	1.00	1,070	$154,921	$143.88	$153,950	34
2025 WOODMONT BLVD APT 241	HILLMONT CONDO	1	1 / 0	1995	1.00	603	$155,000	$243.62	$146,900	223
248 SUMMIT RIDGE DRIVE	FOUR SEASONS	2	2 / 1	1978	2.00	1,298	$159,000	$120.18	$156,000	106
4113E Lone Oak Rd	Green Hills	2	2 / 0	1981	1.00	1,628	$164,900	$98.59	$160,500	52
266 HILLSBORO PL	HILLSBORO STATION CO	2	2 / 0	1985	1.00	1,048	$174,900	$162.12	$169,900	74
260 HILLSBORO PL	HILLSBORO STATION CO	2	2 / 0	1985	1.00	1,048	$174,900	$162.21	$170,000	90
228 Hillsboro Pl	Hillsboro Station Co	2	2 / 0	1985	1.00	1,188	$179,000	$147.31	$175,000	30
5025 Hillsboro Pike Apt 23S	Georgetown	2	2 / 0	1969	1.00	1,542	$182,500	$114.79	$177,000	47
5025 Hillsboro Pike#5H	Georgetown	3	2 / 0	1969	1.00	1,410	$189,900	$134.68	$189,900	15
226 BOXMERE PLACE	BURTON HILLS VILLAGE	2	2 / 0	1985	1.00	1,175	$225,000	$180.43	$212,000	133
2025 WOODMONT BLVD APT 205	HILLMONT	2	2 / 0	1995	1.00	1,265	$234,900	$171.15	$216,500	104
506 BELAIR WAY	BURTON HILLS TOWNHOM	3	2 / 1	1985	2.00	1,526	$269,900	$172.02	$262,500	69
4400 BELMONT PARK TER APT 143	ARDEN PLACE	3	2 / 1	1975	2.00	2,368	$299,000	$115.29	$273,000	251
4400 Belmont Park Terrace, #221	Arden Place	3	2 / 1	1979	2.00	2,250	$319,000	$132.89	$299,000	6
	Average	2		1978	1.3	1,248	$188,945	$145.37	$181,419	85

There is plenty more to choose from, so if you are in the market for a new condo or you are wanting to take advantage of the 8K tax credit, Green Hills would be a great place to look!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Nashville Area Oak Hill Home Sales: August 2009 Market Report!

Mon, 07 Sep 2009 11:14:32 -0500

Happy Labor Day!

Well, if you were hoping for another great month of sales in Nashville's satellite city Oak Hill, then you are in for somewhat of a disappointment.

Only two real estate closings this month in this area of Davidson County. The good news is that they did not take too long to sell - an average of 57 days!

The house on Caldwell needed a lot of updating, not so much with the house on Forest Acres.

Address	Sub/Dev	BR	Baths	Yr Blt	Gar	Sq Ft	List Price	SP/SF	Sales Price	DOM
928B Caldwell Ln	Oak Hill	3	2 / 0	1968	2	1,874	$384,900	$200.37	$375,500	15
807 FOREST ACRES DR	OAK HILL	3	3 / 1	1951	2	2,689	$468,000	$163.63	$440,000	99
	Average	3		1959	2	2,281	$426,450	$178.76	$407,750	57

Sales typically slow down in August - it's the end of the summer, children are headed back to school, etc.

I'm personally looking forward to seeing how Oak Hill fares in September - hopefully it will pick up again!

Have a great rest of the month!

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If you are interested in finding a home in 12th South, Downtown, Green Hills, Hillsboro Village, Oak Hill or West End/Vandy area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.

Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

PBR Stands For Something Other Than Pabst Blue Ribbon: Professional Bull Riding!

Fri, 04 Sep 2009 20:55:04 -0500

Okay, I was born in Nashville, TN. I was raised right in the heart of Davidson County (Nashville). I have heard a lot and seen a lot related to Western and Country Music and the whole lifestyle of it.

Now let me say this before I start my story... My parents were both loving and supportive and generous, providing me lessons in a variety of athletics, art and music.

Let's just say that my parents didn't exactly raise me to appreciate the finer points of being a "cowgirl" in the "big city" and, while they did love that I excelled at my classical piano lessons, they definitely didn't support my deep, deep love of music when it came to wanting to "be a star and sing/play piano on stage".

In fact, my parents went out of their way to drive me down Music Row and Demonbreun just to show me the "starving artists" with nothing but their boots, Wranglers and cowboy hats on. Then they took me to the pawn shops to show me how the musicians had to pawn their instruments so as to have a little money.

It took them until I was about 18 years old to come to terms with the fact that music was in my heart and I was going to get a degree in it whether they liked it or not.

My parents did support my love of horses, too, and I was fortunate enough to have a couple of horses. My sisters and I enjoyed riding and started out riding Western style, then switched to English. I have ALWAYS loved horses. I have even been to a wedding that was entirely on horseback, god love 'em!

They didn't want me to speak with a Southern accent, because they didn't feel it was "refined" enough. I still run into people who gawk at me when I say that I am a Nashville native because I lack a true Southern accent!

But I have always loved Nashville! The beautiful hills, the moderate climate, the smallness of the city, and the relatively low cost of living. So I decided to continue to live here when I finished college.

I was fortunate enough to have a couple of horses, though. My sisters and I enjoyed riding and started out riding Western style, then switched to English. I have ALWAYS loved horses. I have even been to a wedding that was entirely on horseback, god love 'em!

Enough background! Onto the story!

So a friend of mine says he has PBR tickets. I am thinking "Pabst Blue Ribbon puts on a show?" But no! He announces that there is ANOTHER PBR! The Professional Bull Riders! Well, needless to say, I didn't really care to go, but decided to have an open mind.

It turned out to be a lot of fun and I am really glad that I went!

I was really impressed with how long these guys were riding the bulls! And also learned that the term "Rodeo Clown" really does apply to a person who runs around and acts like a clown at a rodeo!

If you have never been, you might want to try it! This Nashville native learned a thing or two!

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Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I'm a Realtor, with The Lipman Group Sotheby's International Realty) at 615.509.1753

Having a Little Fun in the Cool Springs Area of Williamson County, TN!

Tue, 01 Sep 2009 19:18:03 -0500

Okay, this blog post is STRICTLY FOR FUN!!!

I was driving around in Williamson County the other day and noticed something that really made me laugh.

Near Cool Springs Galleria is a small street. Here is the street sign:

This made me reel with laughter... Is it just me? Or do any of you remember the TRIPLE LINDY???

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If you are interested in finding a home in Nashville, Davidson County or the Middle Tennessee area, please search the MLS HERE.

If you would like to have a free comparable market analysis done on your home, if you are a first-time buyer (haven't owned a home in the last three years) and want to take advantage of the $8000 tax credit, an investor or just would like to talk real estate, please feel free to call me, Emily Lowe (yes, I'm a Realtor) and I work at The Lipman Group / Sotheby's International Realty at 615.509.1753!