Williamson County TN Real Estate Statistics and News

By
Real Estate Agent with Benchmark Realty

 

Wow!  It is a beautiful Spring day and there is lots of news in the Real Estate Market!  Let's jump in!

I want to catch you up on the information for Williamson County Real Estate Statistics from the Williamson County Assn. of Realtors:
For January 2010, click here.
For February 2010, click here.

The March stats (that I can look at, but don't have in report form) show that the volume of houses selling  is increasing.  219 houses sold in Williamson County in March.  The median house price is $337,000.  There is still a whole lot to choose from, especially in the $500K plus ranges.  We are seeing houses and condos selling.  The prices are staying fairly stable compared to last year.

The Greater Nashville Association of Realtors features its latest numbers here.   That is a live link and will be updated when they change to their March numbers.

Okay, National News:

$8000 Tax Credit for new home buyers is about to expire.  In order to receive this benefit, you must have a house under contract by April 30. You have until June 30th to close on the house.  I have helped 3 people this year take advantage of this benefit.  Do you or someone you know need to take advantage of it?

FHA loans have come back into style recently.  They can help people with a credit score that is lower than the level conventional lenders like to see, but still high enough to warrant receiving the loan.  They can also help with lower down payments.  They did just increase their mortgage insurance premiums though.  I guess that isn't a surprise.

Appraisals - Just in case you didn't know, the residential appraisal industry has gone through some upheavals.  There have been major changes in the way it is done.  This has created a lot of havoc nationally.  We are settling into a good routine for appraisals here in Middle TN, but the process can still be a bit more lengthy than it used to be.

We in Middle TN do have a few problems with foreclosures affecting our market.  Shifting mortgage requirements and new appraisal regulations also require ongoing diligence, but I want you to know that our part of the country has been relatively stable.  There are places in the country that had extremely creative lending and appraising.  Mortgage Fraud was rampant.  Gratefully that dark side didn't hang out around here too much.  We are still subject to the new lending and appraisal regulations.  If you have questions about them, call me.

 

Recently I attended a session with the Assessor of Property in Williamson County, Dennis Anglin.  You can visit the summary page at the Williamson County Association of Realtors here for more information.  The key points that most people discuss are "Why is my tax value on my house higher than it is actually worth? "  and "Can I get my tax value lowered?"  The short answer to those questions are that the appraisals happen every 5 years and they were done in 2006 at the top of the market.  And no, you cannot get your property value lowered.  Everyone's is at the same level.   Here is an overview of the process:

#4  Verification (Reappraisal) - performs a county-wide property reappraisal to ensure equity throughout the jurisdiction.

· Conducted on a five (5) year cycle in Williamson County. ‘Spot reappraisals' are prohibited.

· The last county-wide property reappraisal was completed in 2006, with another reappraisal scheduled for 2011.

· The 2011 reappraisal process will begin in May 2010.

· Reappraisals increase in accuracy as the number of home sales increase.

· Appraised values for commercial properties are typically based on the estimated income stream generated from a particular building.

· Estimates indicate a majority of 2011 reappraisal values will be consistent with 2006 levels.  Minor fluctuations, either positive or negative, will occur within specific areas and/or subdivisions.

I've been having a great time helping people buy and sell houses in Franklin, Nashville, Brentwood, Hermitage and Smyrna.  My car gets a lot of miles on it.  I have a new listing coming up in Fieldstone Farms for $199,500.  And a rehab in Donelson that is coming along well.  I've been driving around all over - in all kinds of price ranges.  If you have questions about your house, or what is happening in your part of town, call me - let's get some business going.  Prices for buyers are still good, and the mortgage rates are still good.  If you need to sell, it is all about price and condition.  Actually, the leasing market is really busy right now.  If you have a house that you want to lease, call me - the tenants are out there looking!  And the rental inventory is low!

Enjoy the beautiful weather!  I am ready to get outside as often as I can.  The sunshine is calling!


Monica Neubauer, Broker

Benchmark Realty
7127 Crossroads Blvd, Suite 102
Brentwood, TN 37027
615-568-8384 Cell
615-371-1544 Office
www.RealEstateTennessee.com
www.FranklinTNBlog.com

Accredited Buyer Representative (ABR)
Senior Real Estate Specialist (SRES)
Certified Residential Specialist (CRS)
Green

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This posting and the contents written here are the intellectual property and opinions of Monica Neubauer. Monica is a Realtor with Benchmark Realty in Brentwood, TN. She provides real estate services to clients in the Nashville area, including Nashville, Franklin, Brentwood, Spring Hills, Thompsons Station,  and other areas in the Middle Tennessee Region. You can contact her by calling 615-568-8384 or visit www.FranklinTNBlog.com .

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