2011 Most Read Real Estate Articles & Pages

new fire truck on christmas

new fire truck on christmasLooking through my website’s statistical data is so much like Christmas morning that I could hardly sleep last night knowing that I was going to find out which articles and pages were the most visited of 2011. It has been a banner year for GrantHammond.com, I recorded 186,189 visits to the site with 123,705 of those being unique visitors. All of those visitors viewed 721,234 total pages and spent an average of 5:19 on the site. Additionally, 64.76% of all visitors were new and 35.24% were returning visitors. Across the board, these numbers represent between 18% to 23% gains over 2010 and nearly 50% gains over 2009.

Setting my sights towards 2012, I am hoping to break the 1,000,000 total page view barrier which would require 2,740 page views every day. I plan to achieve this goal by continuing to produce hard hitting, statistically driven articles that are backed up by close personal contacts with developers, investors, banks, and other influencers in the Nashville real estate market. My hope is to guide you towards better real estate transactions. It is a pleasure writing these articles and I look forward to your input, guidance and continued friendship.

10 Most Read Real Estate Articles

1: http://www.granthammond.com/2011/condos/h06-condo-insurance/

2: http://www.granthammond.com/2010/condos/5th-main-condos-boot-renters/

3: http://www.granthammond.com/2010/homes/5-million-tyne-boulevard-nashville-mansion-auction/

4: http://www.granthammond.com/2011/condos/icon-sets-record-condo-sales-price-foot-tn/

5: http://www.granthammond.com/2010/condos/5-condo-highrises-nashville/

6: http://www.granthammond.com/2011/condos/final-foreclosures-rhythm-music-row/

7: http://www.granthammond.com/2010/foreclosures-reo/historic-franklin-brownstones-foreclosure/

8: http://www.granthammond.com/2011/market-news/downtown-nashville-residential-statistics-trends/

9: http://www.granthammond.com/2010/homes/whats-wrong-hampton-reserve-brentwood/

10: http://www.granthammond.com/2011/condos/fifth-main-auction-results-review/

5 Most Commented Real Estate Articles

1: http://www.granthammond.com/2011/condos/pollack-partners-buy-convert-velocity-condos-apartments/

2: http://www.granthammond.com/2010/market-news/dont-nashville-real-estate-hypeyet/

3: http://www.granthammond.com/2011/featured/trust-opinion/

4: http://www.granthammond.com/2010/market-news/nashville-market-post-flood/

5: http://www.granthammond.com/2011/market-news/downtown-nashville-residential-statistics-trends/

10 Most Visited Real Estate Pages

1: http://www.granthammond.com/nashville-condos/the-gulch/icon-in-the-gulch-condos/

2: http://www.granthammond.com/nashville-condos/downtown-nashville/

3: http://www.granthammond.com/nashville-condos/the-gulch/

4: http://www.granthammond.com/nashville-condos/downtown-nashville/encore/

5: http://www.granthammond.com/rentals/

6: http://www.granthammond.com/nashville-condos/the-gulch/terrazzo-nashville-condos/

7: http://www.granthammond.com/nashville-condos/midtown/adelicia/

8: http://www.granthammond.com/homes-for-sale/20-expensive-homes-nashville/

9: http://www.granthammond.com/homes-for-sale/brentwood/

10: http://www.granthammond.com/nashville-condos/

Strangest statistical fact of the year: Canadian visitors to GrantHammond.com stayed on the site longer and read more pages than any other place. Canadians stayed on the site for an average of 8:31 and read 12.7 pages. While I only sold 4 properties to people from Canada this year, I would like to say thank you to the 1,892 of you who came to visit.

I thank everyone for their readership, I hope to make you proud again in 2012. Here’s to a Happy and Prosperous 2012! – Grant

* photo credit: Woods Hammond makes his blog debut

Nashville Area Luxury Home Sales Analysis

Nashville Luxury Home

Luxury Home in NashvilleAs 2011 draws to a close and I listen to traditional media pontificating on the woes of national home sales, I am again reminded of how fortunate I am to live and work in Middle Tennessee. Many have made the argument that luxury home sales ($500,000 to $2,000,000) have suffered most during the economic downturn and that may be partially true, but my analysis below proves that Williamson County has not only fared the best, but has recovered the quickest. The volume of luxury and ultra luxury home sales ($2,000,000+) has not already bottomed out, but did so in 2009, two years ago. This information comes to a surprise to many who have been misled by our local media who continue to report that luxury housing levels remain near record lows. I also make the argument that average price is not the best indication of heath for a real estate market. Rather, volume and velocity combined are better indicators of heath, trend, attitude and sustainability.

Total Luxury Homes Sold

For the sake of this analysis, I have limited the definition of a luxury home to a home with a minimum of 2,750 heated square feet, a lot size not to exceed 5 acres and a price between $500,000 and $2,000,000. What I find most interesting in this graph is the absolutely precipitous fall of home sales in Williamson County during 2008 and 2009. During that 2 year period alone, Williamson County gave back all of the gains made since 2003. However, since 2009, Williamson County has returned to 2005 levels by increasing sales by a whopping 183.6% over the last 2 years. By comparison, Davidson County was not as acutely affected during 2008 and 2009, but it too has seen luxury home sales return to 2005 levels.

In the case of Williamson County, the trend is quite conclusive. The volume of luxury home sales is escalating and is well on its way to reaching pre-bubble levels. In Davidson and Sumner Counties, the trend is not as bullish. Both have made progress since 2009, but each has recorded modest annual gains.

Luxury Homes Sales in Tennessee

Total Ultra Luxury Homes Sold

For the sake of this analysis, I have defined an ultra luxury home to be a property with a minimum of 5,000 heated square feet and a price to exceed $2,000,000. Due to the lack of volume, it is difficult to render any concrete conclusions, but I was a little amazed to see Williamson County consistently out sell Davidson County in this market segment. Perhaps coincidental, but the ultra luxury sales market appears to have followed the same trajectory as the luxury sales market. So much for the argument that the ultra rich were the only ones spending money during the recession.

Ultra Luxury Home Sales Nashville

Total Luxury Homes Sold by Population and Households

Taking the analysis one step further, I find it helpful to compare the total number of luxury home sales to consistent and measurable baselines. These serve as a backstop for the trend. The first two are total population and total households for each county as provided for by the US Census. As you can see below, while Williamson County does outperform Davidson and Sumner Counties, it is also more volatile for its size. This leads me to believe that Williamson County could be more price sensitive and experience greater price highs and lows. Regardless of price, you can clearly see Williamson County gaining momentum since 2009, accelerating in 2010.

Nashville Luxury Home Sales by Population

Nashville Luxury Home sales by Households

Total Luxury Homes Sold by All Home Sales

To first understand why this statistic is important, you must first subscribe to the theory that no matter how many homes are sold, the grouping of price points is important. In simpler terms, one can measure the healthiness of a particular market segment during any economic climate by simply comparing that segment’s sales to the overall sales over a period of time. In order to make this analysis we first need to look at all single family home sales over the past eleven years:

Total Number Homes Sold Tennessee

The first item that jumps off the graph is that Williamson County is the only County that has made a significant recovery in total home sales since 2009. Davidson County appears to be bottoming and Sumner still has progress to make. The second interesting fact is that not one of the counties has returned to 2000 total volume levels. This is troublesome as it indicates weakness in the below luxury home price points. Joe the Plumber is not buying homes. This leads me to believe that, as an economic indicator, the segmentation of our population has true merit. Perhaps the 99% have a point.

However, as we make the comparison of luxury homes sold to all single family home sales, you will note significant growth, even during the recession. It’s amazing to think that 1 out of every 5 homes that sold in Williamson County in 2011 was a luxury home, but that is exactly what occurred. This is the same level achieved in 2006. What may be more astonishing is that in Davidson County, the percentage of luxury homes sold has never been higher. The takeaway is clear, the purchasing power lies as the top of the spectrum and that market segment is shouting that they feel confident in the Nashville economy.

Nashville Luxury Home Sales by Total Sales

The foregoing analysis coupled with historically low jumbo mortgage rates leads me to believe that potential buyers of luxury properties should step into the market now. Likewise, those sellers who have postponed listing their properties may find motivated buyers anxious to buy in at this time.

Did you know that you can accurately calculate the current market value of your home? I use 3 different data sets and personally review prior to final presentation. I hope you find it useful in your quest to refinance your mortgage, update your insurance coverage or in evaluating the opportunity to sell your home.

Contact me for a private and confidential consultation.

Happy Holidays and Thank You!

Nashville Holiday and Christmas Card

Nashville Holiday and Christmas Card

Whether you are celebrating Christmas, Hanukah, Kwanza or Festivus, I hope everyone has a wonderful and family filled holiday season.

I also wanted to take a moment to thank everyone for allowing me to become the top producing broker in the company for a second straight year. I take your real estate transactions very seriously and, as I was reminded the other day in REI, I may not remember your name right off the bat, but I can recite every single detail about your real estate transaction. Which brings me to my New Year resolutions…memorize everyone’s names. My family is honored and humbled by your trust and I look forward to serving you again in the future.

A quick note: I am releasing a property valuation system this year that will accurately calculate the current market value of your home. It uses 3 different data sets and is personally reviewed by me prior to final presentation. I hope you find it useful in your quest to refinance your mortgage, update your insurance coverage or in evaluating the opportunity to sell your home.

I am never too busy to help the people you refer to me. Whenever you come across friends, family, and co-workers who are thinking about buying or selling Nashville real estate, be sure to call or email me with their contact information so that I may follow up and best serve their needs. I truly appreciate you!

How do you feel about Nashville? Survey

Nashville Opinion Poll

If you’ve read my blog over any period of time, you’ve noticed that I have formed several very specific opinions about our fair city. This time, I’d like to hear what you think. Please take a few minutes to respond to the 8 polls posted below. Once all of your opinions have been tabulated, I’ll post those results in a tabulation post with commentary from a very special guest!

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Thank you for participating in my poll. Did you know that you can calculate your own property value?

 Nashville Opinion Poll

Forbes Ranks Nashville #3 City of the Future

Forbes Cities of the Future

Forbes NashvilleRecently, Forbes Magazine ran an article identifying their picks for the 40 US cities of the future. Quite a few indicators and factors were taken into account such as education levels, employable workforce, average salaries, cost of living, tax structure, general growth (population and corporate), business friendliness and so on. For those of you who live in Nashville, it should be no surprise that we rank 3rd in the country. For those of you who do not live here, yeah, it’s really that good.

Many of my clients are relocating executives and celebrities who have not spent much time in Nashville prior to their relocation. What never ceases to amaze me is their initial belief that Nashville is just going to be a stop on the corporate ladder or perhaps, a second home that will rarely be used. Very few think of Nashville as a potential home base…in the beginning. But, once you spend a little time in Nashville, it grows and grows on you until your are enveloped by the friendliest sense of home. I speak from experience as it happened to me.

As many of you know, I was born in Pittsburgh and moved throughout my childhood with corporate ladder climbing stops that included Los Angeles, Chicago, Detroit and Paris among others. It was not until 8th Grade that my parents moved to Nashville and it was also not until then that I had a place I could really call home. There is just something about this progressive city in the South that completely intrigues me and captures my attention. It has grown during a recession, it has a Democratic mayor with Republican tendencies, it has a diverse and friendly population with a willingness to help, it has family values without being close minded, and it has an unmistakable sense of optimism. Nashville makes you feel like you can succeed and gives you the tools and environment to get there.

I understand that some of you will read the preceding paragraph with skepticism and are most likely thinking that this real estate broker is pandering to you in order to sell more real estate. I assure you, I am not.

Forbes Top 40 US Cities of the Future

Forbes Cities of the Future

• Take a few moments and participate in our short poll on how you feel about the future of Nashville.

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