Mortgage Rates Eased Last Week in Tennessee

Interest rates on 30-year fixed mortgages, 15-year fixed loans, five-year adjustable-rate mortgages, and one-year ARMs all fell this past week…read the rest of this Nashville mortgage story

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Buying a Condo in the Encore Condos?

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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?

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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 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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Foreclosed Homes in Murfreesboro

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murfreesboro foreclosure homes

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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.

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Luxury Rental Property in Nashville, TN

Summit Property Management, Inc. is a full service property management company located in Nashville, TN. Summit Property managers specialize in residential and corporate property management only and have over 60 years of combined experience. By specializing in “Residential Properties”, our professional and caring staff maintains the expertise to ensure that you and your property receive the utmost service. The Summit Property Management Team is an industry-leading property management company whose customers rely on our expert services to address and quickly resolve their real estate management issues in Nashville, Tennessee.

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