Nashville Foreclosure Rates Up…again

 

Foreclosure rates in the Nashville-Davidson-Murfreesboro-Franklin area again increased in January compared to one year ago, according to data released today by First American CoreLogic.

In January, 1.47 percent of outstanding mortgages were in foreclosure, an increase of 0.75 percentage points compared to one year ago. In December 2009, 1.43 percent of outstanding mortgages in the Nashville area real estate market were in foreclosure.

Nashville still ranks well below the national foreclosure rate of 3.19 percent.

The delinquency rate for Nashville-area mortgages continued to increase, with 5.95 percent of area mortgages 90 days or more delinquent in January, compared to 3.83 percent last year.

If you have questions about the short sale process, or are looking to buy a Nashville short sale property, please call or email me, and I can send you additional informationJosh@JoshAndersonRealEstate.com.

Open Houses for Sunday Feb. 28, 2010

As we approach the looming deadline of the $8000 tax credit extension, I have seen traffic on the buying and selling side increase, and as  result, so have the number of open houses this weekend.  Take advantage of the slightly warmer weather this weekend, and check out some of these great houses.

Nashville/ Davidson County Houses

Nashville/ Davidson County Lofts, Condos, Townhomes

Brentwood/ Franklin/ Cool Springs/ Williamson County Houses

Brentwood/ Franklin/ Cool Springs/ Williamson County Condos & Townhomes

Please let me know if I can personally show you any of the houses above, or any other home on the Nashville real estate market.  I can also send you a list of homes that fit your criteria and price range, call (615) 509-7000 or email Josh@JoshAndersonRealEstate.com

Nashville’s Priciest Pad- $38MM

A while back, we brought you Belle Meade’s Least Expensive Homes, now let’s take a look at the big guy. 

Listed at $38MM 1301 Moran Rd. is Nashville’s Most Expensive Home.  This 18,622 sq. ft. home sits on 135 acres in Williamson County, not too bad if you’re looking to spread out.  If that’ not enough maybe amenities like a stocked lake, 3 ponds, a 20 car garage, gym, and a log cabin will tickle your fancy.  Still not enough?  OK, we’ll also throw in a 2 bedroom apartment and a view of the Harpeth River.

Have I piqued your interest?  Take a look here.  Click on the main picture for additional photos.

Needless to say, if you know someone in the market for this prime piece of Nashville real estate, I would be happy to make an appointment.  Looking for something a little more, um modest?  Take a look at Nashville home for sale.

What are the benefits of a fixed rate mortgage?

What are the benefits of a fixed-rate mortgage?

• Inflation protection.
  If interest rates increase, your mortgage and your mortgage payment won’t be affected. This is especially helpful if you plan to own your home for 5 or more years.
• Long-term planning.
  You know what your monthly mortgage expense will be for the entire term of your mortgage. This can help you plan for other expenses and long-term goals.
• Low risk.
  You always know what your mortgage payment will be, regardless of the current interest rate. This is why fixed-rate mortgages are so popular with first-time buyers.

There are additional considerations to be aware of with fixed-rate mortgages:

• Your mortgage interest rate won’t go down, even if interest rates drop, unless you refinance your mortgage.
• Because the interest rate may be higher than other types of loans such as adjustable-rate mortgages, you may not be able to qualify for as large a loan with a fixed-rate mortgage.
• While your actual mortgage payment will not change, your total monthly payment can occasionally increase based on changes to your taxes and insurance. In many cases you can choose to pay these costs as part of your monthly payment through an escrow account that your lender keeps for you.

Check out my other blogs on home buyer financing.  If you’re looking for Nashville real estate or have questions, please give me a call (615) 509-7000.

Nashville ranks in 10 most livable and most affordable metro areas

The 10 most livable and most affordable metro areas as determined by criteria developed by “Places Rated Almanac” (David Savageau) and the latest quarterly median sales prices compiled by the National Association of Realtors are:

1. Salt Lake City-Ogden, UT $157,000

2. Tampa-St. Petersburg-Clearwater, FL $172,800

3. Raleigh-Durham-Chapel Hill, NC $175,600

4. Houston, TX $138,100

5. Phoenix, AZ $193,800

6. Cincinnati OH, $139,600

7. Louisville, KY $130,100

8. Austin-San Marcos, TX $154,100

9. Orlando, FL $194,400

10.Nashville,TN real estate $152,100.

Four of the 10 metro areas – Tampa-St. Petersburg-Clearwater, Raleigh-Durham-Chapel Hill, Nashville and Austin-San Marcos – are also listed in the latest edition of Lee and Saralee Rosenberg’s “50 Fabulous Places To Raise Your Family” (Melissa Giovagnoli). Like Savageau, the authors give high marks for schools, jobs and business opportunities, family fun, housing affordability, living costs, climate, health care, transportation and quality of life.

Open Houses This Sunday Feb. 21

As suspected the number of homes on the Nashville real estate market is increasing, and so are the number of open houses this weekend.  Buyers and sellers alike are looking to take advantage of the $8000 tax credit extension.

Nashville/ Davidson County Houses

Nashville/ Davidson County Lofts, Condos, Townhomes

Brentwood/ Franklin/ Cool Springs/ Williamson County Houses

Brentwood/ Franklin/ Cool Springs/ Williamson County Condos & Townhomes

Please let me know if I can personally show you any of the houses above, or any other home on the Nashville real estate market.  I can also send you a list of homes that fit your criteria and price range, call (615) 509-7000 or email Josh@JoshAndersonRealEstate.com

Anderson Group introduces Cell Phone Real Estate Search

Wish you could see home details while you are driving around looking at homes? NOW YOU CAN!
With my Mobile MLS Search application, powered by Smarter Agent, you can search for any home in the area on your cell phone.  Check out price, beds/baths, details, maps, even photos – all from the convenience of your cell phone, iPhone or BlackBerry.  Download our application now by texting TNHOMES to 87778

AND I’M JUST ONE CALL AWAY!

Once you find a house you like, just hit the “Call To See” button on your phone and you’ll reach me directly to answer your questions.

Download our application now by texting TNHOMES to 87778 or visit our website here.

Spring Hill GM Plant May Re-Open

General Motors is exploring methods of opening one if its idled manufacturing plants to keep up with demand, GM North America President Mark Reuss said this weekend.

Reuss spoke to reporters Saturday in Orlando, during a meeting of the National Automobile Dealers Association.

“I’m not ready to say which plants because we’re still looking at which ones and how to do it and that would be a conversation that would not just be internal to GM but also (with) some of the states where those plants are,” Reuss said at a news conference, according to Reuters.

Likely sites include one in Janesville, Wis. and in Spring Hill, which were idled as part of GM’s bankruptcy.

“What we want to do is something that may not be traditional in terms of how we do it and how we staff it and how we bring it on and off,” Reuss said Saturday.

The Detroit Free Press has reported that Spring Hill is a leading contender for new work as GM looks to open a manual body shop, as opposed to a fully automated line.

Are you interested in Spring Hill real estate?  Give me a call or send me an email Josh@JoshAndersonRealEstate.com and I can send you a list of Spring Hill homes for sale.

Builders & Spec Houses: Haven’t we Learned our Lesson?

An article entitled “Spec Houses Rise as Builders Bet on Buyers Before Tax Credit Ends”, published this week in the Wall Street Journal, reports of builders continuing to build spec houses for potential buyers. Have we not learned our lesson of over-building? I understand that the housing industry is trying to “stay busy” and employ people, but is it worth making the same mistake again? With so many houses, spec houses, condo complexes and foreclosures sitting vacant, and the stricter regulations on loans, should we forego the lessons we learned last year in the hopes of turning a profit- I say no, let’s learn from our mistakes and not repeat them.

If you have questions about the Nashville real estate market, please call Josh Anderson at (615) 509-7000 or email at Josh@JoshAndersonRealEstate.com

What $75 million buys

In case you run across that $75 million that Great Aunt So and So left for you, you can spend it on your dream home- all 25,000 sq. ft. of it.  Photos here.

The 249-acre Rancho Mirage, Calif. estate linked to Edra Blixseth, a founder of the billionaires’ resort the Yellowstone Club in Montana, is on the market for $75 million.

Ms. Blixseth, who has declared personal bankruptcy, took control of the home as well as of the 13,500-acre private club as part of her 2008 divorce settlement with her ex-husband Tim Blixseth. She became the shareholder in BLX Group, the holding company for the Club and the home; the seller is the trustee of BLX Group.

The Blixseths built the Porcupine Creek estate about 10 miles away from Palm Springs. It has a waterfall, a fountain with jets whose sprays rise about 80 feet and a private, 19-hole golf course of about 240 acres. The roughly 25,000-square-foot main residence is decorated with several ceiling murals and has a prayer room and separate wings for guests and children.

Last year, Ms. Blixseth sold the Yellowstone Club to Boston-based private-equity firm CrossHarbor Capital Partners LLC. Her personal-bankruptcy trustee has also auctioned off furniture, antiques and jewelry in recent months. Jeff Hyland of Hilton & Hyland and Tyler Morgan of Pacific Union GMAC Real Estate in Palm Springs, both Christie’s Great Estates affiliates, have the listing. The sale would be subject to bankruptcy court approval in Montana.