Real estate investors have been taking a look at the Nashville real estate market. My partner and I have both been working with buyers looking to purchase Nashville foreclosures. Bank owned homes are being strongly considered for investments by those who have the money to spend.
Everybody wants a deal, and there's plenty of deals to go around. Nashville also has its share of short sales, too. A short sale is when the bank agrees to take less than what is owed on the mortgage to allow the homes to be sold without going into foreclosure. Many people need to sell, but owe more than what their home is currently worth. So they contact the bank and request permission to proceed with a short sale.
Even though we're in the middle of the holiday season, the phones are still ringing. With a market that has homes starting less than $100,000 in the Nashville area, it's easy to see why investors are flying in to buy these affordable homes in Nashville.
Tuesday, December 15, 2009
Monday, December 14, 2009
November 2009 Statistics for Nashville Home Sales
I recently ran a report of Nashville home sales comparing the months of November, 2008 and November 2009. I obtained the information from Nashville's MLS. Included in these statistics are housing sales for Davidson County, Sumner County, Williamson County and Wilson County. Here are my findings:
Davidson County Home Sales
Now that the Tax Credit has been extended until April 2010, there is an optimistic outlook about Nashville home sales for Winter and Spring of 2010 as well.
Davidson County Home Sales
- November 2008: 350
- November 2009: 577
- Percent Change: Up 64.86%
- November 2008: 105
- November 2009: 183
- Percent Change: Up 74.29%
- November 2008: 139
- November 2009: 211
- Percent Change: Up 51.8%
- November 2008: 87
- November 2009: 130
- Percent Change: Up 49.43%
Now that the Tax Credit has been extended until April 2010, there is an optimistic outlook about Nashville home sales for Winter and Spring of 2010 as well.
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