Blog has moved to www.GrantHammond.com

So I began using Blogger way back in 2005 and was very, very loyal until I finally could not optimize this blog platform any further. I found that I was not able to give my readers all of the tools they needed in order to make the best investment decisions.

I am excited to say that this entire blog has moved to www.GrantHammond.com where you will find all of these old posts, tons of news ones and several excellent tools to help you make better purchase, sale and investment decisions in Nashville.

Be sure to follow this link to Nashville’s Best Real Estate Blog

Buying a Condo in the Encore Condos?

encore condos in nashville grant hammond

If you are thinking about buying a condo in the Encore condos building in the SoBro area of Nashville, you need to speak with me now. If you are buying a condo or loft in any building in downtown Nashville…read the rest of the Encore condos story

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Buying a Condo at the Icon in the Gulch?

grant hammond icon in the gulch

If you are considering buying a condo at the Icon in the Gulch, you need to speak with me first. If you have a pre-construction contract on a condo in the Icon that you would like to renegotiate, you need to speak with…read the full Icon in the Gulch story here

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Nashville Short Sales and Foreclosures

It amazes me how many buyers that do not consider short sales, foreclosures and REO properties when they are looking for a home or condo in Nashville. Part of the problem is that your Realtor probably does not know how to find these properties in the first place, or perhaps they are not sure how to present an offer. Learn how to buy Nashville foreclosures and short sales.

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Foreclosure in Historic East Nashville

If you love historic architecture and want to own a turn of the century home, this might be your best opportunity ever. This foreclosed home is located in East Nashville in the historic Lockeland Springs neighborhood. This classic Victorian home was built in 1899 and features many of the hallmarks of landmark mansion like a grand entry, 2 staircases, stained & leaded glass windows & transoms. 13.5′ ceilings, ornate mantels, pocket doors…read the full East Nashville foreclosures article.

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Yours Truely Featured in The Tennessean Newspaper

The Tennessean Article Featuring Grant HammondBusiness column: Housing slump pushes prices down in Middle Tennessee suburbs

Appeared in The Tennessean on July 14, 2008, written by Chas Sisk:

“Home sellers from New England to Southern California have been slashing prices this year, and many people have held that before long, local homeowners would capitulate as well.

New data from the Greater Nashville Association of Realtors seemed to prove them right last week. The median price of a single-family home sold in June was a sharp 6 percent less than in the same month a year ago.

But not all Middle Tennessee homeowners are feeling pressure to accept less for their homes.
According to Richard Exton, principal appraiser at Manier and Exton, a gap has opened between sellers in Davidson County and those in other parts of the region.

Average asking prices for single-family homes in six of Davidson County’s eight real estate zones are actually up, Exton says, but average asking prices are down in practically every major suburban community.

In five towns — Franklin, Mt. Juliet, Lebanon, Columbia and Dickson — homeowners have come off their prices by more than 10 percent.

“It’s most notable in areas where there’s been a lot of new construction,” Exton said. “It appears they’re not getting their money back out of it and having to sell it for less.”

Buyers settle for less

Lawn signs declaring price cuts abound in the suburbs. But prior to June, lower asking prices had not translated into a decline in home values across the region.

Exton’s data may help explain that discrepancy. Davidson County, which accounts for about one-third of the region’s home sales, appears to be stabilizing the market.

So why the shift in the suburbs? Builders may be taking the lead. They’re far more apt to accept less profit than sellers who have their life savings tied up in a home. It could also be higher gas prices or the demographics of Nashville’s urban core.

But just as likely, it’s a change in the mentality of suburban buyers.

A few years ago, with valuations on the rise and money cheap to borrow, many were eager to stretch into a bigger home. Now, with valuations unlikely to take off again and banks avoiding risky loans, more suburban homebuyers are settling for less.

That has put downward pressure on asking and closing prices, said Grant Hammond, a real estate agent who deals in high-priced homes.

“A family that was willing to stretch to get into a $900,000 home is just making the sound economic decision for their family not to do so,” he said.

In Williamson County, lower asking prices have led to a 3 percent decline in closing prices so far this year. That means the average homeowner got about $10,000 less than his neighbors did a year ago.

But with the median price for a home in Williamson County still at $370,000, buyers there shouldn’t think they’ve gotten a huge bargain. Three years ago, the median price of a home in Williamson was $315,482 — more than $50,000 less than today.

So don’t pity the suburban home seller quite yet. That seller may be getting less than he or she wanted. But after years of gains, many are still pocketing profits.”

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