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

• November 2008: 350
• November 2009: 577
• Percent Change: Up 64.86%

Sumner County Home Sales

• November 2008: 105
• November 2009: 183
• Percent Change: Up 74.29%

Williamson County Home Sales:

• November 2008: 139
• November 2009: 211
• Percent Change: Up 51.8%

Wilson County Home Sales:

• November 2008: 87
• November 2009: 130
• Percent Change: Up 49.43%

These housing sales statistics would suggest that the Federal Homebuyers Tax Credit seems to be working, at least in the middle Tennessee, Nashville real estate market.

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.

Nashville Foreclosures and Short Sales

Now is a good time to buy if you're considering purchasing a home in Nashville or the middle Tennessee area. While Nashville and its suburbs haven't experienced quite the same number of foreclosures that coastal states and larger cities have experienced, there are still foreclosures and pre-foreclosure properties currently available.

You can find Nashville area foreclosures on our web site. You can search by county: Cheatham, Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson or Wilson Counties. Or you can search by foreclosure type: Short Sales, HUD or VA foreclosures, and other foreclosures.

We endeavor to update the site daily with fresh MLS listings from the middle Tennessee Realtracs system, so you can get current information on the Nashville area real estate foreclosure market.

8000 Tax Credit Extension: Two Proposals on the Table

The Tennessee Association of REALTORS® (TAR) sent out an email today urging REALTORS® to call their US Senators and express their support for extending the 8000 tax credit for first time home buyers.

The current bill is set to expire at the end of November, 2009. According to the TAR, the NAR is supporting the Dodd-Lieberman-Isakson Amendment. This Amendment would do the following:

• Extend the tax credit to June 30, 2010
  
• Set the income limits for single buyers at $150,000 and for married buyers at $300,000
• Provide the $8,000 tax credit to any buyer, rather than to just first-time home buyers

There is another proposal being considered by the Senate, proposed by Majority Leader Harry Reid, D-Nev., and Senate Finance Committee Chairman Max Baucus, D-MMajority Leader Harry Reid, D-Nev., and Senate Finance Committee Chairman Max Baucus, D-Mont. Their plan would only extend the 8000 tax credit through the end of March 2010, then lower the credit throughout 2010 until it's completely phased out.

For more information on the possible 8000 tax credit extension, you can read this story by Reuters, "Senate seen extending homebuyers tax credit soon".

8000 Buyer Tax Credit: Will They Extend It?

I believe that Realtors would tell you that the $8000 tax credit for first time home buyers has definitely had an impact on their sales for 2009 thus far. This week, Ron Phipps, First Vice President for The National Association of Realtors testified to the Senate Banking, Housing and Urban Affairs Committee about this very issue. He gave housing statistics on increased existing home sales, as well as a lower inventory of homes on the market. You can read Ron Phipps' Testimony on the NAR web site.

There is hope throughout the real estate industry that the US Federal Government will extend this much needed tax credit. The 8000 buyer tax credit is assisting people who haven't purchase before, or those who haven't owned a home for at least 3 years, in buying a home that they may not have been able to purchase otherwise. There are also other loan incentives available right now that are helping home buyers qualify for a home. Many of these incentives can be combined with the 8000 buyer tax credit, creating an incredible opportunity to purchase a home.

This real estate stimulus has given the Nashville real estate market a boost. We hope to hear a decision in the near future that this tax credit will be extended.

White House TN Treasure: Al's Food Value

When I first relocated to White House, Tennessee, about 17 years ago, there were only two small grocery stores in town: Piggly Wiggly and Al’s Food Value. Both were small stores so they mainly carried the necessities, and both closed rather early. So for any large selection of groceries, or if you wanted to shop past about 8 P.M. you had to go into Goodlettsville, Tennessee, about 15-20 minutes away.

Well, many years have passed. White House has seen a lot of growth and development. The Piggly Wiggly is long gone. Kroger and a WalMart Supercenter have moved into town. But Al’s Food Value is still holding its own, and I’m glad.

Several years ago, Al’s moved into a new building on the southeast corner of Hwy 31W and Raymond Hirsch Parkway. Their new facility allowed them the space to expand their inventory. They’ve since added a pharmacy, U.S. Post office service center, and many new products.

But the main reason Al’s is still thriving in this small town of White House is because of its renowned meat department. Most of Al’s meat is not shipped in pre-cut and pre-packaged. They bring in fresh local sides of beef and divide them up and package them right in the store. Because of the great pains they take to bring in fresh, quality USDA Choice beef, their meat looks and tastes great. There are people that come from all over this area, and outside of White House, just to buy fresh cut beef from Al’s. The White House community knows that Al’s has always been faithful to help support the local schools, sports teams, community events, etc.

And I can’t forget, their staff has always been friendly and helpful. You can tell they take pride in their store by the great service they offer.

The store doesn’t have a web site, but their contact information is:

Al’s Food Value
2910 Highway 31 West
White House, TN 37188
615-672-8892

Lake Homes on Deep Water

Looking for lake homes or waterfront property is exciting, but can be very challenging to find exactly what you need. Water depth is an important factor that is sometimes overlooked in the searching process. Here are a few thoughts on deep water lake property.

A lake is simply a body of water that is inland from an ocean. There are all shapes and sizes of lakes, and they’re usually fed by a river. Some lakes are man made, and some are naturally formed. Natural lakes are often found in mountainous regions where land elevations vary. This creates basins where water gathers along its normal drainage route.

Many of the larger lakes are created when a dam is built on a large river causing the water to form a large pool or water basin, and gradually drain out through the dam. The control of that water flow is maintained for several purposes: community water supplies, producing power, irrigation and recreational purposes. Maintenance and control is usually handled by the U.S. Corps of Engineers. They maintain many of the lakes and bodies of water in the United States.

Some lakes have property along the shore that is available for housing developments. You’ll need to consider the depth of the water when you’re shopping for a lake home or homesite. Lake homes whose shoreline accesses deep water will allow for a larger boat or water vessel. Sometimes, in the case of a lake created by a dam, the water’s edge goes into areas that are shallower than others. These are called coves or inlets. While coves and inlets can be deep, often times they are not. They can be rather shallow and murky. This type of water may require the homeowner to have their waterfront dredged to create a deep enough area to access it by boat.

While this may not be a common occurrence in all parts of the country, it’s definitely an issue in some areas. And during certain times in the year, the U.S. Corps of Engineers may need to lower the water level. This could create even shallower water in some remote coves and inlets.

To avoid purchasing a lake home or lakefront property on water that’s too shallow for your boating needs, contact the U.S. Corps of Engineers and ask them about the lake and shoreline maintenance, and water levels of the area in which you’re looking to buy. They can answer your questions about water depth, boat dock permits and requirements, boating regulations, and other pertinent information you’ll need to know before making a lake home purchase.

I hope this information helps you if you're searching for a lake home, or waterfront property. If you'd like to browse through Nashville's MLS listings of TN lake homes, or search through Nashville homes for sale, please visit my web site.

Old Hickory Lake Marina

The marina in Old Hickory, TN, is experiencing a new look. Bart and Angela Bagsby are renovating the old marina and have many new ideas which will make their dream, Blackjack Cove, a great place for community recreation. Over the next few years they plan to add many new features to the marina that's been formerly known as Old Hickory Marina.

They've already opened The Black Pearl, a steak and seafood restaurant that serves both lunch and dinner.

Their plans also include adding 160 new wet boat slips, some of which have already been added. This would total over 300 boat slips when all are finished. They also plan to open a retail store that sells fishing bait and tackle, as well as basic boating safety equipment.

You can contact them at:

Black Jack Cove-Old Hickory Marina
2001 Riverside Dr.
Old Hickory, TN 37138
Phone: (615) 847-4022

Or visit their web site at Blackjack Cove-Old Hickory Marina