Nashville Real Estate Market Skipping Across Bottom

nashville real estate investorsWith all of the National news still painting a dim picture, it is good to see hard local numbers that prove Nashville is skipping across the bottom of the market. Serious real estate investors should take note. This article by Jenny Burns appeared in The Nashville Business Journal on June 27, 2008:

Nashville Area’s Shrinking Number of Empty Lots Sparks Optimism

Nashville’s lot inventory has peaked and looks to be slowly shrinking – a potentially good sign for the area’s real estate market, analysts say.
Developed lot inventory reached a record level of 37,760 lots in February this year, but new numbers show it dropped slightly to 37,056 in June, according to MarketGraphics Research Group.
The number of
homes finished but not occupied has also crested. In February, it was at a record level of 4,353. This month, the number has dropped to 3,990.

“This market is very, very close to the bottom. Almost 70% to 80% of indicators are already at the bottom or near the bottom,” says Edsel Charles, president of MarketGraphics, which tracks the new-home market in Nashville and 21 other states.

By 2009, 15% of the Nashville market will see some shortages, he says, and by 2010, about 40% to 45% will see shortages.

“By 2011, we have a problem on our hands with the availability of lots, “ he says.

The economic environment makes it difficult to buy and hold land though and Charles says about one-fourth of the builders are really struggling with the ability to borrow money to develop land.

It is very clear that large investors need to be purchasing developed lots with the intention of holding for 1-3 years depending upon the area of Nashville. It is our estimation that you should expect a 100% return during this period. For those interested in learning more about Nashville’s only real estate vulture fund, please do not hesitate to call.

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Nashville Real Estate Market Skipping Across Bottom

nashville real estate investorsWith all of the National news still painting a dim picture, it is good to see hard local numbers that prove Nashville is skipping across the bottom of the market. Serious real estate investors should take note. This article by Jenny Burns appeared in The Nashville Business Journal on June 27, 2008:

Nashville Area’s Shrinking Number of Empty Lots Sparks Optimism

Nashville’s lot inventory has peaked and looks to be slowly shrinking – a potentially good sign for the area’s real estate market, analysts say.
Developed lot inventory reached a record level of 37,760 lots in February this year, but new numbers show it dropped slightly to 37,056 in June, according to MarketGraphics Research Group.
The number of
homes finished but not occupied has also crested. In February, it was at a record level of 4,353. This month, the number has dropped to 3,990.

“This market is very, very close to the bottom. Almost 70% to 80% of indicators are already at the bottom or near the bottom,” says Edsel Charles, president of MarketGraphics, which tracks the new-home market in Nashville and 21 other states.

By 2009, 15% of the Nashville market will see some shortages, he says, and by 2010, about 40% to 45% will see shortages.

“By 2011, we have a problem on our hands with the availability of lots, “ he says.

The economic environment makes it difficult to buy and hold land though and Charles says about one-fourth of the builders are really struggling with the ability to borrow money to develop land.

It is very clear that large investors need to be purchasing developed lots with the intention of holding for 1-3 years depending upon the area of Nashville. It is our estimation that you should expect a 100% return during this period. For those interested in learning more about Nashville’s only real estate vulture fund, please do not hesitate to call.

If you liked this post, you might also enjoy:

Foreclosed Homes in Murfreesboro

foreclosures in murfreesboro

murfreesboro foreclosure homes
buy foreclosures in murfreesboro, TN
These three foreclosed homes in Murfreesboro range between 2,300 square feet and 2,600 square feet and are in the desirable Blackman School District. They are 4 bedroom, 2.5 bath with 2 car garages and are brand spanking new. So what’s the story? The story is that we bought these homes pre-foreclosure from a super-regional bank for pennies on the dollar! My client has already flipped and closed one of the homes and is working on fixing up the second two in order to put on the market at a superior discount. The probable profit on these three homes is in the $95,000 to $110,000 range.

How do you find these type of foreclosures in Murfreesboro and the sounding area? The answer is simple. These homes never hit the foreclosure wire, were never posted on any website, and were never put on any list. You have to contact me! I have a direct line into the Special Assets departments of 3 super regional banks and 5 local banks. These banks “float” the opportunities by me first!

Call me today to get on my investor list: Grant Hammond 615-945-7123 or email me. I even have access to entire subdivisions in Nashville and the surrounding areas! Serious investors please: if you don’t have the capability to close in less than a week the opportunity will pass you by.

If you liked this post, you might also enjoy:

Foreclosed Homes in Murfreesboro

foreclosures in murfreesboro

murfreesboro foreclosure homes
buy foreclosures in murfreesboro, TN
These three foreclosed homes in Murfreesboro range between 2,300 square feet and 2,600 square feet and are in the desirable Blackman School District. They are 4 bedroom, 2.5 bath with 2 car garages and are brand spanking new. So what’s the story? The story is that we bought these homes pre-foreclosure from a super-regional bank for pennies on the dollar! My client has already flipped and closed one of the homes and is working on fixing up the second two in order to put on the market at a superior discount. The probable profit on these three homes is in the $95,000 to $110,000 range.

How do you find these type of foreclosures in Murfreesboro and the sounding area? The answer is simple. These homes never hit the foreclosure wire, were never posted on any website, and were never put on any list. You have to contact me! I have a direct line into the Special Assets departments of 3 super regional banks and 5 local banks. These banks “float” the opportunities by me first!

Call me today to get on my investor list: Grant Hammond 615-945-7123 or email me. I even have access to entire subdivisions in Nashville and the surrounding areas! Serious investors please: if you don’t have the capability to close in less than a week the opportunity will pass you by.

If you liked this post, you might also enjoy:

Nashville Interest Rates Move Higher

Nashville mortgage interest rates

Freddie Mac reports a jump in the 30-year fixed mortgage rate to 6.42% during the week ended June 19 from 6.32% the prior week, marking a nearly nine-month high. The 15-year fixed mortgage rate rose to 6.02% from 5.93%, the five-year adjustable mortgage rates climbed to 5.89% from 5.70% and the one-year ARM jumped to 5.19% from 5.09%.

Freddie Mac chief economist Frank Nothaft attributes the gains to concerns about inflation after the consumer and producer-price indexes for May were issued. Higher mortgage rates sparked an 8.7% drop in loan applications in the past week and a 21% decline year over year, according to the Mortgage Bankers Association. People who have been waiting for the price bottom of the Nashville housing market may have waited too long. Inflation is real and will affect interest rates for the remainder of the year. It’s time to get on that horse and ride or put him up until next year.

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Mortgage Rates Rise, But Remain Low
Mortgage Rates Fall Again, Now VERY Low
Nashville Mortgage Update
Nashville Interest Rates Drop

Nashville Interest Rates Move Higher

Nashville mortgage interest rates

Freddie Mac reports a jump in the 30-year fixed mortgage rate to 6.42% during the week ended June 19 from 6.32% the prior week, marking a nearly nine-month high. The 15-year fixed mortgage rate rose to 6.02% from 5.93%, the five-year adjustable mortgage rates climbed to 5.89% from 5.70% and the one-year ARM jumped to 5.19% from 5.09%.

Freddie Mac chief economist Frank Nothaft attributes the gains to concerns about inflation after the consumer and producer-price indexes for May were issued. Higher mortgage rates sparked an 8.7% drop in loan applications in the past week and a 21% decline year over year, according to the Mortgage Bankers Association. People who have been waiting for the price bottom of the Nashville housing market may have waited too long. Inflation is real and will affect interest rates for the remainder of the year. It’s time to get on that horse and ride or put him up until next year.

If you liked this post, you may also like:
Mortgage Rates Rise, But Remain Low
Mortgage Rates Fall Again, Now VERY Low
Nashville Mortgage Update
Nashville Interest Rates Drop

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