Whetstone Subdivision in Brentwood Foreclosed

whetstone brentwood foreclosure

A Brentwood housing development with million-dollar homes, Whetstone, is in foreclosure.

Developers say this is the first major development in Brentwood to go into foreclosure…read the rest of the Brentwood Whetstone foreclosure story

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Real Estate Market Boosted by First Time Buyers

The National Association of REALTORS (NAR) says over 50 percent of March’s home sales were tied to first-time buyers, many of whom snapped up foreclosed homes and other distressed properties. Experts believe getting first-time buyers off the sidelines to take advantage of historically low interest rates and federal tax credits will reduce the glut of homes on the market and spark a recovery…see the full real estate market boosted by first time buyers article.

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Nationally Pending Home Sales Are Up

From NAR’s Research Division this past week:

Pending home sales have edged up, hinting at a possible pickup of sales activity in coming months, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in February, rose 2.1 percent to 82.1 from a reading of 80.4 in January, but is 1.4 percent below February 2008 when it was 83.3…rest the rest of the pending home sales are up nationally story.

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Nashville Mortgage Rates Hit Record Low

mortgage rates chart

With the Federal Reserve planning to purchase another $750 billion in mortgage-backed securities and up to $300 million in Treasuries, Freddie Mac reports a drop in long-term mortgage rates. The average interest on a 30-year loan fell to a 38-year low of 4.85 percent during the week ended March 26 from 4.98 percent the prior week…see the rest of the Nashville mortgage rates hit another new record low article.

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Nashville Real Estate Market Report | February 2009

There were 1,267 home closings reported for the month of February, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 33 percent from the 1,892 closings reported for the same period last year.

There were 1,452 sales pending at the end of the month, compared with 2,183 pending sales at this time last year. The average number of…see the full February 2009 Nashville real estate market report.

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January Home Sales Numbers For Nashville

For the first time since 1994, there were less than 1,000 closings in Nashville during the month of January. Only 984 properties closed during the month, a 40% decline from just one year ago. So, what is selling? Auctions. Check out some of the incredible deals on Nashville auctions.

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