Nashville Makes News as Affordable Market

A newly-released study by Bizjournals.com ranked the 50 largest metropolitan areas in the U.S. as to housing affordability and Nashville ranked 16th! The study looked at median household income per month and the median total housing payment per month (for each of the 50 markets) to compute total housing payment as a percentage of household income. This showed 24% of income spent on housing in Nashville, TN.

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Nashville Makes News as Affordable Market

A newly-released study by Bizjournals.com ranked the 50 largest metropolitan areas in the U.S. as to housing affordability and Nashville ranked 16th! The study looked at median household income per month and the median total housing payment per month (for each of the 50 markets) to compute total housing payment as a percentage of household income. This showed 24% of income spent on housing in Nashville, TN.

If you liked this post, you might also like:
The Healthiest Housing Markets for 2009
Nashville Housing Inventory Declines
Mid-Year Nashville Market Update
History of Nashville Mortgage Rates

Mortgage Rates Drop Below 6%, Again

Nashville, TN mortgage rates

According to Freddie Mac’s data, national average mortgage rates dropped back below 6% after spending more than a month above that threshold. Thanks to the Federal Reserve’s aggressive moves to insulate the U.S. economy by slashing borrowing costs, 30-year fixed home loans averaged 5.87% for the week ending 3/20/08. That compares to 6.13% a week earlier and represents the first time since mid-February that the benchmark interest rate has been less than 6%.

“Slowing consumer spending and weak employment conditions are among the concerns behind the Fed’s decision to lower the target federal funds rate,” said Freddie Mac chief economist Frank Nothaft. However, the Nashville housing market should get a boost from this drop.

If you liked this post, you may also like:
Nashville Mortgage Rates Fall
2009 Real Estate Market Outlook and Advice
Nashville Mortgage Rates Jump Significantly!
30-Year Mortgage Rates On The Decline

Mortgage Rates Drop Below 6%, Again

Nashville, TN mortgage rates

According to Freddie Mac’s data, national average mortgage rates dropped back below 6% after spending more than a month above that threshold. Thanks to the Federal Reserve’s aggressive moves to insulate the U.S. economy by slashing borrowing costs, 30-year fixed home loans averaged 5.87% for the week ending 3/20/08. That compares to 6.13% a week earlier and represents the first time since mid-February that the benchmark interest rate has been less than 6%.

“Slowing consumer spending and weak employment conditions are among the concerns behind the Fed’s decision to lower the target federal funds rate,” said Freddie Mac chief economist Frank Nothaft. However, the Nashville housing market should get a boost from this drop.

If you liked this post, you may also like:
Nashville Mortgage Rates Fall
2009 Real Estate Market Outlook and Advice
Nashville Mortgage Rates Jump Significantly!
30-Year Mortgage Rates On The Decline

The Best Places To Buy Foreclosed Property

Last week, Forbes.com published a news story identifying the 10 “Best Places To Buy Foreclosed Homes.” The nation’s 100 largest metro areas were studied in the process of selecting the Top 10. Basing their analysis on recent data from RealtyTrac, the report identifies markets where properties in foreclosure may, in fact, be a good investment because the markets in those areas are stabilizing and “foreclosures aren’t symptomatic of local economic ruin.”

In other words, making the list is great news for those who live and work in these markets and two Tennessee cities made the Top 10 List:

1. Charlotte, NC
2. Raleigh, NC
3. Nashville, TN
4. Oklahoma City, OK
5. San Antonio, TX
6. Albuquerque, NM
7. Knoxville, TN
8. Seattle, WA
9. Indianapolis, IN
10. Washington-Arlington-Alexandria

foreclosed homes in Nashville, TN
Investing in Nashville homes and maybe even condos is a savvy investment in a nationally depressed real estate market. With the stock markets in a free for all, why not purchase a stable investment in a growing and dynamic city?

If you liked this post, you might also like:
Short Sales, REO, and Foreclosures Rise in Nashville
First Major Condo Project Is Seized
Foreclosure in The Governors Club in Brentwood!
National Foreclosures Rise in 2nd Quarter
Foreclosed Homes in Murfreesboro

The Best Places To Buy Foreclosed Property

Last week, Forbes.com published a news story identifying the 10 “Best Places To Buy Foreclosed Homes.” The nation’s 100 largest metro areas were studied in the process of selecting the Top 10. Basing their analysis on recent data from RealtyTrac, the report identifies markets where properties in foreclosure may, in fact, be a good investment because the markets in those areas are stabilizing and “foreclosures aren’t symptomatic of local economic ruin.”

In other words, making the list is great news for those who live and work in these markets and two Tennessee cities made the Top 10 List:

1. Charlotte, NC
2. Raleigh, NC
3. Nashville, TN
4. Oklahoma City, OK
5. San Antonio, TX
6. Albuquerque, NM
7. Knoxville, TN
8. Seattle, WA
9. Indianapolis, IN
10. Washington-Arlington-Alexandria

foreclosed homes in Nashville, TN
Investing in Nashville homes and maybe even condos is a savvy investment in a nationally depressed real estate market. With the stock markets in a free for all, why not purchase a stable investment in a growing and dynamic city?

If you liked this post, you might also like:
Short Sales, REO, and Foreclosures Rise in Nashville
First Major Condo Project Is Seized
Foreclosure in The Governors Club in Brentwood!
National Foreclosures Rise in 2nd Quarter
Foreclosed Homes in Murfreesboro

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