If you’re not a real estate professional who follows a ton of real estate blogs, then you’re probably not familiar with the brouhaha happening right now about listing syndication and IDX in the industry. I’ve been following the opinions very carefully because a TON of my business comes directly from my IDX. IDX is short for Internet Data Exchange; basically it’s an online relationship that allows agents and companies to share their listings online. When you search for a home on my Nashville Home Search page, you are able to see all the MLS-listed properties because of IDX. This means you don’t have to go from website to website to ensure that you’re seeing all the homes that are available. From a consumer standpoint this the pretty handy. From an agent standpoint, it allows you to provide a great service and establish yourself as a local expert.

The argument online is about a few different things. Much of it started when a ARG, small boutique brokerage in California, decided to pull their listings from syndication to Zillow, Trulia, and Realtor.com but NOT from IDX feeds. They did so with a well produced if wordy and overdone video. Most consumers (and many Realtors) don’t realize that sites like Zillow, Trulia, Homes.com, Hotpads, Vast, HomeFinder, et al. may not actually have ALL the home listings. This is because they get their home listings not from IDX, but from various other listing feeds that may not be as fresh. This can often lead to syndicators having bad or outdated information. Realtor.com is a different beast, and I’ll get to it in a moment, but for now let’s refer to these syndicators as TruZilia (a fabulous term coined by the best real estate blogger out there, Kris Berg of San Diego Castles).

Outdated info isn’t really the thing that irritates most agents. What bothers us is that the TruZilias of the world often take the data (that we provide to them for free) then they organize it on their sites and ask us agents to pay them a monthly fee to in order to have our own contact information branded next to our own listings. If we don’t pay the fee, the listing will either be buried at the bottom of the results or the listings will have a different agent’s contact info displayed next to it. This “other agent” will have likely paid the syndicator a hefty monthly fee to be shown in that particular neighborhood or zip code. This agent may have had their license 6 days and they most certainly have not ever seen the interior of the home being “showcased.” As a consumer are you served well by this arrangement?

For other agents (like myself) the rub isn’t just bad data and monthly fees, it’s that these syndicators are hogging up the Google SEO juice. When a potential consumer makes a search engine inquiry for just about any real estate related term in just about Any City, USA the first page of results will be from TruZilia-ish sites. It’s a bit much to compete with. There are agents out there who DO compete (see my idol Jay Thompson, the Phoenix Real Estate Guy) but the average Joe Realtor cannot compete without having someone on their team who blogs and works on SEO as a full-time position. As Realtors, we already wear a lot of hats, and “online tech consultant” isn’t another one that most want to take on.

To many in the industry, this kind of thing in tantamount to extortion. Pay the fee, or be blackballed. Of course, we don’t HAVE to sign up. Personally, I pay the fee to most of the major-player sites. I do so unhappily and begrudgingly. But the writing is on the wall; buyers like and use these sites, and sellers want their listings to be shown there.

To get back on point, much of the online discussion is about pulling listings from TruZilia syndicators. A handful of brokers have already done this. Many think that others will soon follow. Personally, I’m having a hard time deciding which side of the issue I stand on. I would LOVE to see TruZilia out of the way, but I most definitely would NOT like to see IDX go the way of the dinosaurs. After all, I earn clients from my IDX site. The two beasts are similar, but still quite different. Let me try to clarify:

You see, only people and companies who are affiliated with a specific MLS are allowed to procure true IDX feeds. We do this as gatekeepers who want to control our own destiny. It is really, really easy to envision a scenario where agents lose control of the data and become unnecessary to the situation of selling a home. Think of the way Expedia, Priceline, and Orbitz have disrupted the travel agent industry. This could happen in real estate. Whether you agree with National Association of Realtors (aka NAR) being a gatekeepers to this data, isn’t really the issue. It is the way it is. We ARE NOT going to give TruZilia a direct IDX feed…

However, we do give this feed to Realtor.com so let’s turn our attention there for a moment. Personally, I think a stronger Realtor.com is the key to taking back our listings. Most, if not all of our 900 regional MLSs give their data to them every 15 minutes or so. The data is reliable and current. However – Realtor.com is also in the greed game. They charge agents or brokers additional fees to show ALL the photos and have their own contact info on display. For a little back-story, in 1996 when the interwebs were still relatively new players in real estate, NAR made a deal with the mega-company MOVE, Inc. to manage Realtor.com effectively making Realtor.com a kind of national MLS. For years they were THE leaders in home search use, but Zillow and Trulia slowly encroached with better designs and innovations. Realtor.com market share has been falling consistently year-after-year.

SO. Here is my solution. Stop the feeds to Zillow and Trulia and the other sites with bad data that gouge, trick, and shame agents into deceiving relationships. Take the $400 dues we are all paying each year and reinvigorate Realtor.com with beauty and innovation. Showcase ALL 20 of the MLS photos and have the listing agent’s contact info next to each property. AND DO THIS FOR FREE. Can’t manage it for free? THEN RAISE OUR ANNUAL DUES. Realtor.com doesn’t have to be everything to everyone. Zillow has an amazing “Zestimate” program which estimates home values based on tax and other data. It’s a fab tool. Trulia boasts a wonderful consumer forum and does amazing things with sales price trends and heat maps.

A proper marketing campaign could restore faith in the REALTOR® brand online AND get the eyeballs back to the website that best serves consumers AND agents (think the Chrysler commercials of home-ownership… it could be epic). But stop the insanity of listings online and take control of the data we give you. Allowing others to encroach is dangerous to our livelihood and a disservice to our clients and consumers.

What say you all?

Origin: http://www.NestingInNashville.com

No, my study isn’t comprehensive. These are just notes from head that highlight my experience selling homes in Nashville since 2003. I work with first time home buyers A LOT. Every buyer and experience is unique but here are some trends I run into over and over again.

• First time buyers generally use the FHA loan. FHA is a government backed loan that offers low interest rates and low down-payments. FHA requires a 3.5% down-payment that must come from savings or can be a gift from a family member.
• Depending on monthly car, school, and debt payments, first time buyers usually spend about 3x their annual gross income on a home. If you bring in $50,000 before taxes, you’ll likely spend about $150,000 on a home. This ratio skews upward if you are interested in urban condo living.
• First time buyers almost always need help paying the closing costs on their loan. This can run 3% or more of the housing cost. With FHA it is acceptable for the seller to pay these costs on your behalf, but obviously it affects the amount you are able to negotiate on final sales price.
• As a first time buyer, you need to make sure you’re taking ALL the monthly home costs into consideration. You must budget for: principal loan payment, property taxes, homeowners insurance, HOA payments, utilities and general maintenance. Online mortgage calculators can be deceiving because they don’t include all these figures. Getting a pre-approval from a local lender can help you determine a monthly payment that is comfortable for you.

Some of my favorite first time buyer neighborhoods:

• East Nashville & Inglewood – trendy, offering access at all price points
• Woodbine – very affordable, convenient to town
• Donelson - great fixers, good quality construction
• Old Hickory Village – for small-town charm in the city
• West Towne / Charlotte Park – up and coming areas on the west side
• Lenox Village – Williamson Co without the price
• Whispering Hills - midway from Cool Springs and Downtown

Steph’s condo picks:

• The Park at Melrose - perfect for Vandy & Belmont students
• The Row at Berry Hill – tons of space for the money, but they don’t hit the market often
• Whitland Crossing - it isn’t as far away as you think. The space and level of finishes is worth it
• Werthan Mills - hip, trendy, and oh so cool
• Gale Park – a little more expensive, but a fab location
• Parklane - walkable Sylvan park local and FHA approved!

Today’s Nashville listings under $200,000

Showing properties 1 - 20 of 500+. See more city of Nashville real estate.
(all data current as of 2/14/2012)

1. $158,900 : 409 American Road, Nashville
   
   2 beds, 2 full, 1 part baths

   Home size: 1,390 sq ft
   
2. $158,000 : 404 Mercomatic Dr # 104, Nashville
   
   2 beds, 2 full, 1 part baths

   Home size: 1,390 sq ft
   
3. $109,900 : 2308 CABIN HILL RD, Nashville
   
   3 beds, 1 full, 1 part baths

   Home size: 1,408 sq ft

   Lot size: 18,730 sq ft
   
4. $159,900 : 2145 Wooddale Ln, Nashville
   
   3 beds, 2 full, 1 part baths

   Home size: 1,390 sq ft

   Lot size: 7,840 sq ft
   
5. $139,000 : 3912 Elkins Ave, Nashville
   
   2 beds, 1 full, 1 part baths

   Home size: 988 sq ft

   Lot size: 7,405 sq ft
   
6. $150,000 : 4817 Tanglewood Dr, Nashville
   
   4 beds, 4 full baths

   Home size: 2,800 sq ft

   Lot size: 18,730 sq ft
   
7. $149,900 : 2214 Pinewood Rd, Nashville
   
   3 beds, 1 full, 1 part baths

   Home size: 1,378 sq ft

   Lot size: 13,068 sq ft
   
8. $174,500 : 7121 Commonwealth Cir, Nashville
   
   3 beds, 2 full, 1 part baths

   Home size: 1,833 sq ft

   Lot size: 8,712 sq ft
   
9. $177,000 : 113 Windwood Cir, Nashville
   
   4 beds, 2 full, 1 part baths

   Home size: 2,267 sq ft

   Lot size: 7,840 sq ft
   
10. $163,500 : 5217 Cardiff Dr, Nashville
    
    3 beds, 2 full baths

    Home size: 1,312 sq ft

    Lot size: 8,712 sq ft
    
11. $195,000 : 1217 Brenner Dr, Nashville
    
    3 beds, 2 full, 1 part baths

    Home size: 1,618 sq ft

    Lot size: 15,246 sq ft
    
12. $144,900 : 6220 Morrow Rd, Nashville
    
    3 beds, 2 full baths

    Home size: 1,479 sq ft

    Lot size: 7,405 sq ft
    
13. $145,000 : 389 Melpar Dr, Nashville
    
    3 beds, 2 full, 1 part baths

    Home size: 1,763 sq ft

    Lot size: 13,503 sq ft
    
14. $137,000 : 2515 Sleepy Hollow Dr, Nashville
    
    3 beds, 2 full baths

    Home size: 1,756 sq ft

    Lot size: 10,890 sq ft
    
15. $105,607 : 1932 Dabbs Ave, Nashville
    
    4 beds, 2 full baths

    Home size: 1,514 sq ft

    Lot size: 8,712 sq ft
    
16. $109,000 : 6003 Pennsylvania Ave, Nashville
    
    2 beds, 1 full bath

    Home size: 1,006 sq ft

    Lot size: 7,405 sq ft
    
17. $129,900 : 8252 Persia Way, Nashville
    
    2 beds, 3 full, 1 part baths

    Home size: 1,224 sq ft

    Lot size: 2,613 sq ft
    
18. $119,900 : 4906 Cedar Hill Rd, Nashville
    
    4 beds, 1 full, 1 part baths

    Home size: 1,430 sq ft

    Lot size: 1.03 ac
    
19. $139,900 : 4807 Towry Dr, Nashville
    
    3 beds, 2 full baths

    Home size: 2,200 sq ft

    Lot size: 7,840 sq ft
    
20. $149,900 : 2103 Avalon Dr, Nashville
    
    2 beds, 2 full baths

    Home size: 1,233 sq ft

    Lot size: 13,068 sq ft
    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Origin: http://www.NestingInNashville.com

Search By Radius

If you’ve ever searched for real estate on my Nashville home search site, you already know that we are offering the most powerful searching portal in the entire market. I engage a company called Diverse Solutions to oversee the project. Essentially they take the data feed from our local MLS and apply amazing overlays that allow you as a consumer to search through ALL the homes using capabilities far stronger than those even offered to the MLS agent subscribers. It’s amazing really – what they can do with that data. For a while now you’ve been able to search by:

• Arial map
• Zip code
• School zone
• Foreclosure status
• Days on the market
• Features (beds, baths, lot size)
• Amenities (hardwoods, garage)

Well, now by popular demand, you can also search by radius of a specific address or landmark.

Want to be 5 miles or less from work? How might 1 mile or less from school? No problem!

Screenshot of listings within one mile of Belmont University:

Pretty neat huh?

I’ve noticed that the Radius search box doesn’t seem to recognize a lot of landmarks. I did have success with the terms: Downtown Nashville, Vanderbilt University, and The Hermitage. But I couldn’t find the airport or most area hospitals.  However, if you have a specific address, it’ll find that right away.

This will also be a terrific tool for home owners who want to be notified about new listings that pop up in their own neighborhood.

Start your own radius home search today – and don’t forget to “Save This Search” to have the updates emailed to you.

Can’t figure it out? Let me know and I’d be happy to set up a search for you.

Check Out Our Newest Nashville Home Listings

Showing properties 1 - 10 of 74. See more Zeitlin Realtors Homes For Sale.
(all data current as of 2/14/2012)

1. $129,900 : 8252 Persia Way, Nashville
   
   2 beds, 3 full, 1 part baths

   Home size: 1,224 sq ft

   Lot size: 2,613 sq ft

   Year built: 2006
   
2. $584,900 : 7700 Scenic River Lane, Nashville
   
   3 beds, 2 full, 2 part baths

   Home size: 2,980 sq ft

   Lot size: 16.62 ac

   Year built: 1994

   Parking spots: 2
   
3. $224,900 : 3211 Peyton Ct, Franklin
   
   3 beds, 2 full, 1 part baths

   Home size: 1,946 sq ft

   Lot size: 6,969 sq ft

   Year built: 2001

   Parking spots: 2
   
4. $500,000 : 372 Childe Harolds Cir, Brentwood
   
   5 beds, 4 full, 1 part baths

   Home size: 3,800 sq ft

   Lot size: 21,780 sq ft

   Year built: 2012

   Parking spots: 3
   
5. $500,000 : 380 Childe Harolds Cir, Brentwood
   
   5 beds, 3 full, 2 part baths

   Home size: 3,800 sq ft

   Lot size: 22,215 sq ft

   Year built: 2012

   Parking spots: 3
   
6. $288,000 : 100 Rushing Brook Circle, Nashville
   
   4 beds, 2 full, 1 part baths

   Home size: 3,161 sq ft

   Lot size: 10,890 sq ft

   Year built: 1995

   Parking spots: 2
   
7. $1,054,999 : 211 Ennismore Lane, Brentwood
   
   5 beds, 4 full, 1 part baths

   Home size: 4,990 sq ft

   Lot size: 27,007 sq ft

   Year built: 2007

   Parking spots: 3
   
8. $589,000 : 1916-A Overhill Drive, Nashville
   
   4 beds, 3 full, 1 part baths

   Home size: 3,568 sq ft

   Lot size: 3,484 sq ft

   Year built: 2006

   Parking spots: 2
   
9. $489,000 : 320 Sandcastle Rd, Franklin
   
   4 beds, 2 full, 1 part baths

   Home size: 3,345 sq ft

   Lot size: 40,075 sq ft

   Year built: 1990

   Parking spots: 2
   
10. $94,900 : 2402 Conrad Dr, Nashville
    
    3 beds, 2 full baths

    Home size: 2,127 sq ft

    Lot size: 14,374 sq ft

    Year built: 1955

    Parking spots: 1
    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Origin: http://www.NestingInNashville.com

Stephanie endorses 5th & Main

The other day I was corresponding with someone online who wanted to find a “cheap” Nashville condo. I was trying to explain in my email that “cheap prices” and “sound investments” aren’t always the same thing. There is an untold number of urban Nashville condo developments where current pricing seems to be quite affordable, but in reality may carry unseen deficiencies that will affect values for years, if not decades, to come. To me, this includes things like:

• no deeded parking
• no en suite washer/dryer connections
• rental percentages out of whack with allowable financing ratios
• high HOA dues in comparison to comparable properties
• low or deficient reserve funds
• and lack of FHA financing approval

It’s impossible to tell without significant research whether a condo complex conforms to or exceeds these hopeful expectations. That’s why it’s SO important to hire a Realtor who understands the ins and outs of condo financing (pick me! pick me!)

For a while now, you may have been hearing about the urban condo complex at 5th & Main in East Nashville. Like other condos that came online at the wrong time (see Rolling Mill Hill, Velocity, etc.) 5&M has struggled with sales. The development eventually fell into receivership and ownership reverted to the bank.

A few months ago the development was sold to an investor who placed 25 units on the auction block. The auction was an overwhelming success and served to reset the home values at an affordable market price point. Since the auction sales have been brisk. At the time of writing the development has placed 64 units under contact and FHA loan approval will be granted this coming Friday.

Why is FHA project approval so important? For starters is almost guarantees that may of the above bulletpoints will be covered. But perhaps more importantly, it opens up the possibility of purchasing a home for as little 3.5% down.  If you’ve done any research on financing a condo in recent years, you’ll know that this is an amazing bonus – particularly for first-time home buyers.

If you’re interested in buying an urban Nashville condo, I can help you navigate the market.

A Sampling Of Current Availability At 5th & Main:

Showing properties 1 - 12 of 12. See more 5th & Main Condos.
(all data current as of 2/14/2012)

1. $195,900 : 2115 Yeaman Pl #228, Nashville
   
   2 beds, 2 full baths

   Home size: 1,602 sq ft

   Year built: 2008

   Parking spots: 1
   
2. $220,900 : 2115 Yeaman Pl #700, Nashville
   
   2 beds, 2 full, 1 part baths

   Home size: 1,812 sq ft

   Year built: 2008

   Parking spots: 2
   
3. $115,900 : 2115 Yeaman Pl #222, Nashville
   
   1 bed, 1 full bath

   Home size: 904 sq ft

   Year built: 2008

   Parking spots: 1
   
4. $117,900 : 2115 Yeaman Pl #220, Nashville
   
   1 bed, 1 full bath

   Home size: 904 sq ft

   Year built: 2008

   Parking spots: 1
   
5. $122,900 : 2115 Yeaman Pl #317, Nashville
   
   1 bed, 1 full bath

   Home size: 785 sq ft

   Year built: 2008

   Parking spots: 1
   
6. $127,900 : 2115 Yeaman Pl #319, Nashville
   
   1 bed, 1 full bath

   Home size: 785 sq ft

   Year built: 2008

   Parking spots: 1
   
7. $138,900 : 2115 Yeaman Pl #330, Nashville
   
   1 bed, 1 full, 1 part baths

   Home size: 1,052 sq ft

   Year built: 2008

   Parking spots: 1
   
8. $175,900 : 2115 Yeaman Pl #526, Nashville
   
   1 bed, 1 full, 1 part baths

   Home size: 1,449 sq ft

   Year built: 2008

   Parking spots: 1
   
9. $335,900 : 2115 Yeaman Pl #323, Nashville
   
   2 beds, 2 full, 1 part baths

   Home size: 2,425 sq ft

   Year built: 2008

   Parking spots: 2
   
10. $128,900 : 2115 Yeaman Pl #320, Nashville
    
    1 bed, 1 full bath

    Home size: 904 sq ft

    Year built: 2008

    Parking spots: 1
    
11. $130,900 : 2115 Yeaman Pl #424, Nashville
    
    1 bed, 1 full bath

    Home size: 904 sq ft

    Year built: 2008

    Parking spots: 1
    
12. $162,900 : 2115 Yeaman Pl #101, Nashville
    
    1 bed, 1 full, 1 part baths

    Home size: 1,348 sq ft

    Year built: 2008

    Parking spots: 1
    

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Origin: http://www.NestingInNashville.com

There is a misconception out there that you must have a 20% downpayment when buying a house. This just isn’t true! Granted, if you have 20%, your terms and interest rate will be will be more appealing, but there are plenty of options out there if you can come up with 3.5% (FHA) to 5% (Conventional). 100% options are still out there for some – though I personally believe all buyers some invest at least a few percentage points towards their goal.  Lets start with the obvious.

1. SAVINGS. Kind of a no-braniner but still the number one source for most homebuyers.
2. SELL SOMETHING.Whether it be another house, a car, or even a fancy coin collection. You should know that most underwriters want to see that the down-payment source has been “seasoned” in your account for a few months – thus proving that the funds are actually your own and not from some nefarious source. However selling personal property can be considering instant liquidity; just make sure you have proper documentation of the value and sales price.Similarly,  if you come into spontaneous money from an insurance settlement, court award, or lottery, these funds can be viewed as immediate and bypass the need for “seasoning.” Your income tax refund can also be used immediately.
3. BORROW FROM YOUR 401K. I’m not typically a proponent of this, but most retirement plans do offer this option. You must read the fine print as you will likely incur early-withdrawal penalties or income tax repercussions.
4. GIFT FUNDS. If the funding source is a gift from a family member, you must make sure that the gift is well-documented and the Giver must sign a waiver implying that the funds are indeed a gift – not a loan.
5. EMPLOYER ASSISTANCE. Many folks forget about this, but there are toms of employers who may contribute cash (or a forgivable loan) if you invest in a home. Employers WANT employees with homes. They’re more reliable, and more likely to stay in place. I rencently helped a first time buyer who is employes at Regions Bank. She was able to get $5,000 in assitance. Metro Nashville sometimes offers the HOME program for police, fire, and teachers (though at the time of writing the program is not funded).
6. MILITARY BENEFIT. Military families have the option of VA financing. The VA offers loans up to 100% of a homes loan-to-value. Check to see if  you qualify.
7. GOVERNMENT ASSISTANCE. In Nashville, THDA offers a variety of home financing options for first time buyers and low-income buyers.  There are fees involved, so be sure to ask your lender about details.  The Housing Fund is another option locally.

Origin: http://www.NestingInNashville.com

January, 2012
In This Issue of Nesting In Nashville Nashville Real Estate News:

• New Listings!
• New Website!
• Nashville Real Estate Stats
• Recent Blog Posts

Origin: http://www.NestingInNashville.com

Nashville Origianls Week is a great excuse to blow your New Years resolution diet. Get gift cards and an amazing meal at a great price. Check out these fabulous deals.

55 SouthThree-course dinner $30.12

Bound’rySeared Salmon $20.12. Salad and entree $30.12; Entree and dessert $30.12

Burger UPTwo burgers and one of three apps (pimento cheese, fried pickles or fried okra) for $20.12

CabanaThree-course tasting, $20.12; wine flight with each course, $10.06

Caffe NonnaTwo-course lunch for two, $20.12; three-course dinner $30.12 per person

Cha ChahMama Myint’s “House Salad” or “Comfort Food Cha Chah Style,” $20.12; Three-course prix fixe, $30.12

Copper KettleLunch for two $20.12; Sunday Brunch for two $30.12

Cross Corner$20.12: 3 apps and bucket of domestic beer; or 2 burgers or specialty items and 2 soft drinks; or 2 large 1-topping pizzas and domestic bucket or pitcher.

Crows NestThree courses, $20.12

DrinkHaus Changing daily special coffee drinks $2.12

F. Scott’sThree-course dinner $30.12

FidoTwo entrées from Daily Specials board & two desserts, lunch and dinner, $20.12

Fish & Co.Two-course lunch $10.12; two-course dinner $20.12

FlyteThree-course dinner for $30.12

Germantown CaféThree-course dinner for $20.12

Germantown Café EastThree-course dinner for $20.12

GotenHibachi dinner, $20.12 per person

Holland House Bar and RefugeThree courses from the dinner menu $30.12

Jackson’sTwo courses, $20.12
**Also check our sister restaurant: Rumba during restaurant week View Rumba’s offerings

Jimmy Kelly’s SteakhouseFour-course dinner $30.12, Jan. 16-21

The Listening Room CafeOne app and two menu items $20.12; Four Sunday brunch entrees $30.12

MafiaOza’sPiccola Morsi Chef’s Tasting $20.12

MambuTwo courses, $20.12, three courses $30.12

McCabe PubTwo burgers with chips or fries $12.12

Midtown CaféTwo-course lunch $20.12, wine pairing $5; Three-course dinner, $30.12, wine pairing $15.12

Nero’s GrillLunch $11.12; Three-course dinner $20.12

Noshville Delicatessen Breakfast, lunch, dinner for 2 $20.12 (Midtown, Green Hills, Cool Springs)

PMThree-course dinner $20.12

The Pineapple Room at CheekwoodLunch for two, $20.12 (includes gate fee)

Provence Breads (Hillsboro Village, Downtown)Cup of soup with bread, $2.12

Puckett’s Gro. & Restaurant, FranklinThree-course meal $20.12

Puckett’s Fifth and Church, NashvilleThree-course meal $20.12

Red PonyThree-course dinner $30.12

RumbaTwo course dinner, $20.12
**Also check our sister restaurant: Jackson’s during restaurant week View Jackson’s offerings

Rumours EastTwo course dinner $20.12; 3-course dinner $30.12; wine pairings $16

SOLThree-course dinner $30.12

Sunset Grill2-course lunch $10.12, wine pairing $5; 3-course dinner $20.12, wine pairing $10

Suzy Wong’s House of YumThree course dinner for $20.12

Table 3Two-course lunch $12.12; two-course dinner $20.12

TaystThree-course dinner, $30.12

Tin Angel3-course Asian Touch dinner $20.12; 3-course W. Mediterranean dinner $25.12; 3-course American Northwest dinner $30.12

WatermarkThree courses, $30.12

Wild IrisTwo-course dinner, $20.12

Yellow PorchTwo-course meal $20.12

Origin: http://www.NestingInNashville.com

According to The Greater Nashville Association of Realtors there were 1,773 closings during the month of December. This is an 18.2 percent increase from the 1,500 closings reported for the same period in 2010. Fourth quarter closings are 5,093 for Greater Nashville. That total is up 17.9 percent from the 4,321 closings during the fourth quarter of 2010.

Final numbers for 2011 show there were 20,624 homes sold in the region, according to figures provided by the Greater Nashville Association of REALTORS. Compared to the prior year, the final figures are up 1.8 percent. There were 20,250 closings in 2010.

“2011 was a very important year for home sales. It is the first year since 2006 that there was an increase over the number of closings in the prior year. While the increase is small, it is a very encouraging sign. The year-over-year increase is most significant because in 2011 there were no stimulus or tax-credit incentives like those available in 2010,” said GNAR President Kendra Cooke. “The double-digit increase for
closings in December marks the sixth consecutive month of increased home sales, so the 4th quarter numbers are also up significantly.

“The fact that the number of pending sales is also up, and by a meaningful amount, gives Realtors in Greater Nashville and Middle Tennessee some reason to be optimistic as we start a New Year.”
A comparison of sales by category for December (2010 v 2011)  is:

• CLOSINGS: 1,500  – 1,773
• Residential: 1,237  – 1,502
• Condominium: 174  – 171
• Multi-Family: 16 -  21
• Farms/Land/Lots:  73 – 79

A comparison of sales by category for the fourth quarter is:

• CLOSINGS: 4,321 -  5,093
• Residential: 3,629 -  4,268
• Condominium: 464 -  541
• Multi-Family: 49 -  53
• Farms/Land/Lots: 179 -  231

A comparison of sales by category year-to-date is:

• CLOSINGS; 20,250 -  20,624
• Residential: 16,919  – 17,192
• Condominium: 2,341 -  2,194
• Multi-Family: 212 -  228
• Farms/Land/Lots: 778  – 1,010

There were 1,652 sales pending at the end of December, compared with 1,273 pending sales at this time last year. The average number of days on the market for a single-family home was 94 days.
The median residential price for a single-family home during December was $168,500, and for a condominium it was $140,062. This compares with last year’s median residential and condominium prices of $174,500 and $140,000, respectively.
Inventory at the end of December was 17,216, down from 19,411 in December 2010. The current inventory of properties by category, compared to last year, is:

• INVENTORY: 19,411 -  17,216
• Residential: 12,146  – 10,574
• Condominium: 1,799 -  1,447
• Multi-Family: 370 -  308
• Farms/Land/Lots: 5,096  – 4,887

“Prices are lower but remaining fairly stable and inventory is down. As a matter of fact, inventory is down to levels not seen since about this time in 2007. Even with the decrease there is about a 9 or 10 month supply overall. For residential, the supply is only about 7 months and for condos about 8 months. Selection throughout the region remains good and conditions remain extremely favorable for those interested in purchasing a home,” added Cooke. “For those planning to sell, it is important to maintain your property inside and out to be successful in this competitive market.”
The Greater Nashville Association of REALTORS is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.

Historic stats at GNAR.org

Origin: http://www.NestingInNashville.com

As an independent contractor who doesn’t have a 401K that my company contributes too, I often worry about retirement. Right now, my personal hopes are pinned to a strong Nashville rental market heading down the road.  If you have a 401k, and are concerned about your prospects moving forward, you aren’t alone. I recently ran across this article from AgentGenius, my favorite online real estate magazine, and thought I’d share. Read more here…

Origin: http://www.NestingInNashville.com

This made me chuckle. A couple struggling with closing delays from their lender, Bank Of America,  made a video about their ordeal. I can absolutely relate. I just sold a home for some old friends. The buyer came to us with a BOA pre-approval letter. Five weeks after our original closing date, we finally got ‘er done…

Origin: http://www.NestingInNashville.com