MusicCity real
estate
guide
Winter 2015 www.DavisGroupRealEstate.com www.SylvanParkHomes.com
We’re less than 30 days away from Spring—it can’t get here soon enough! I’m late in getting my 2015 Calendars out, which is due to the market heating up early and keeping us busy! If you’re thinking about buying or selling this year, NOW IS THE TIME to give me a call. The Nashville market is low on inventory—we need more Sellers for all of the Buyers flooding the market right now! Please call me for a private, no-hassle introduction to my Home Seller and Home Buyer Programs! The last 8 years have seen the bubble burst, many homeowners go under, and, as of the last 2 years, a seemingly miraculous rebound in many areas of Middle Tennessee. From the Nashville Area Metropolitan Planning Organization: Nashville is expected to grow by another 267,000 persons in the next 10 years: (http://www.nashvillempo.org/growth/). Think that’s not a lot of people? It is when you consider future housing needs and necessary upgrades to our infrastructure! On page 2, you will find my Annual Neighborhood Market Summary, which compares property sales from 2013 vs. 2014. I hope you will find this interesting and informative. For comparables specific to your property, please give me a call directly at 615-593-0305.
Featured Listings A View That Makes A Difference
Year of Income * One• One Year Income Considered for SelfConsidered For Self Employed Borrowers Employed Borrowers • Non Warrantable Condos Condos * Non-Warrantable Allowed Allowed • Expanded Debt Ratios Debt Ratios * Expanded Available Available • Asset Based Income allowed on Jumbo Loan Income allowed * Asset-Based Programs on Jumbo Loan Programs
321 54th Ave North Sylvan Park 3 structures / 5 rental units
• Credit Scores Down to * Credit Scores down to 600 600 On FHA Programs on FHA Programs * Local Processing and *Local Processing and Underwriting Underwriting*
Leslie A Light Branch Manager NMLS# 156910
Direct Fax
320 Old Hickory Blvd, #1810 Eagle Ridge at The Reserve, Bellevue 2BR 2BA
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Highlands Residential Mortgage 1050 Glenbrook Way Suite 150 Hendersonville TN 37075
615-594-6245 615-647-5931
llight@highlandsmortgage.com www.highlandsmortgage/agents/leslie-light.com ...Where Mortgage Is Our Only Business Branch NMLS#1173149 30 Burton Hills Blvd, Suite 400, Nashville, TN 37215 Corporate: 12001 N. Central Exp, Suite 750, Dallas, TX 75225. NMLS# 134871. Licensed under Texas State law and subject to regulatory oversight by the Texas Department of Savings and Mortgage Lending. Consumer complaints against Highlands Residential Mortgage should be sent, in writing to the Texas Department of Savings and Mortgage Lending, 2001 North Lamar, Suite 201, Austin, Texas 78705, or call toll free 1-877-276-5550. This material is for informational purposes only, subject to change without notice and should not construed as investment and/or mortgage advise. This is not an offer for an extension of credit or a commitment to lend.
ANNUAL NEIGHBORHOOD MARKET SUMMARY - 2013 vs. 2014
All sales included are taken solely from the Multiple Listing Service (MLS) and include Residential sales only (except where noted). Statistics show Avg.SalesPrice/Price Per Sq.Ft. These statistics include varying property conditions, and are assumed to be entered accurately by the original Listing Agent(s). For comparables specific to your home’s type, condition and size, call Kim at 615-593-0305 Bellevue
Belle Meade
Belmont/Vandy 2013
2014
Brentwood
2013
2014
2013
2014
0-999 sq.ft.
$165,000/$178sf
$80,000/$85sf
N/A
N/A
$247,000/286sf $296,000/$334sf
2013
2014
N/A
1,000-1,499 sq.ft.
$163,000/$121sf $161,000/$123sf $385,000/$305sf
N/A
$295,000/$228sf $305,000/$240sf $291,000/$198sf $559,000/$399sf
N/A
1,500-1,999 sq.ft.
$198,000/$111sf $205,000/$116sf $570,000/$298sf $498,000/$289sf $385,000/$225sf $404,000/$234sf $302,000/$170sf $321,000/$181sf
2,000-2,499 sq.ft.
$230,000/$103sf $248,000/$110sf $573,000/$268sf $628,000/$296sf $489,000/$217sf $456,000/$199sf $330,000/$155sf $380,000/$168sf
2,500-2,999 sq.ft.
$271,000/$99sf $283,000/$103sf $608,000/$227sf $685,000/$256sf $631,000/$225sf $604,000/$218sf $402,000/$145sf $447,000/$160sf
3,000+ sq.ft.
$359,000/$99sf
$375,000/$104sf
$1.6mil/$305sf
$1.5mil/$290sf
closed sales
562
552
72
51
overall average
126
123
863
879
$231,000/$119sf $225,000/$107sf $747,000/$281sf $828,000/$283sf $475,000/$232sf $483,000/$241sf $418,000/$164sf $499,000/$214sf
% change
-3% Crieve Hall 2013
0-999 sq.ft.
$803,000/$208sf $831,000/$223sf $763,000/$153sf $789,000/$162sf
N/A
+11%
+2%
East Nashville 2014
2013
2014
Franklin 2013
+19% Germantown (homes)
2014
2013
2014
$229,000/$262sf $184,000/$197sf $193,000/$223sf $107,000/$124sf $127,000/$145sf $134,000/$136sf
N/A
1,000-1,499 sq.ft.
$217,000/$161sf $237,000/$182sf $204,000/$160sf $238,000/$185sf $184,000/$143sf $220,000/$171sf $196,000/$153sf $277,000/$205sf
1,500-1,999 sq.ft.
$240,000/$142sf $262,000/$154sf $289,000/$168sf $326,000/$185sf $260,000/$146sf $281,000/$157sf $290,000/$161sf $391,000/$221sf
2,000-2,499 sq.ft.
$291,000/$129sf $295,000/$133sf $359,000/$163sf $398,000/$175sf $319,000/$141sf $337,000/$148sf $343,000/$158sf $414,000/$188sf
2,500-2,999 sq.ft.
$295,000/$112sf $296,000/$113sf $422,000/$157sf $449,000/$166sf $382,000/$138sf $402,000/$145sf $461,000/$165sf $603,000/$230sf
3,000+ sq.ft.
$302,000/$99sf $339,000/$105sf $438,000/$132sf $561,000/$170sf $636,000/$146sf $659,000/$154sf $490,000/$145sf $700,000/$206sf
closed sales overall average
108
143
152
165
2071
2033
60
55
$269,000/$129sf $276,000/$158sf $316,000/$163sf $361,000/$184sf $315,000/$140sf $338,000/$153sf $319,000/$153sf $477,000/$210sf
% change
+3%
+14%
Germantown (condos) 2013
2014
Green Hills 2013
+7% The Gulch (condos)
2014
2013
2014
+50% Oak Hill/Forest Hills 2013
2014
N/A
N/A
0-999 sq.ft.
$189,000/$254sf $206,000/$299sf
1,000-1,499 sq.ft.
$279,000/$211sf $314,000/$232sf $326,000/$247sf $328,000/$248sf $461,000/$380sf $483,000/$404sf $354,000/$245sf
1,500-1,999 sq.ft.
$372,000/$221sf $397,000/$226sf $365,000/$210sf $363,000/$205sf $910,000/$495sf
2,000-2,499 sq.ft.
$484,000/$229sf $430,000/$205sf $417,000/$186sf $466,000/$201sf
N/A
$410,000/$426sf $307,000/$392sf $324,000/$409sf
N/A
N/A
N/A
$355,000/$204sf $400,000/$226sf
$900,000/$440sf $374,000/$163sf $443,000/$194sf
2,500-2,999 sq.ft.
N/A
N/A
$493,000/$179sf $544,000/$194sf
N/A
N/A
$505,000/$184sf $524,000/$187sf
3,000+ sq.ft.
N/A
N/A
$743,000/$189sf $816,000/$200sf
N/A
N/A
$862,000/$180sf $950,000/$206sf
closed sales
36
27
67
62
overall average
175
110
125
$331,000/$229sf $337,000/$241sf $469,000/$202sf $488,000/$246sf $559,000/$422sf $569,000/$418sf $490,000/$195sf $579,000/$203sf
% change
+2%
+4%
Richland/West End 2013 0-999 sq.ft.
204
N/A
2014
+2%
Sylvan Park 2013
+18%
12 South 2014
$308,000/$313sf $277,000/$258sf $245,000/$293sf
West Meade
2013
2014
2013
2014
N/A
$321,000/$397sf
N/A
N/A
1,000-1,499 sq.ft.
$306,000/$243sf $375,000/$313sf $273,000/$212sf $285,000/$236sf $276,000/$221sf $327,000/$256sf $234,000/$178sf $250,000/$190sf
1,500-1,999 sq.ft.
$327,000/$183sf $418,000/$238sf $322,000/$186sf $362,000/$209sf $347,000/$194sf $415,000/$236sf $291,000/$161sf $283,000/$163sf
2,000-2,499 sq.ft.
$492,000/$213sf $480,000/$206sf $433,000/$193sf $459,000/$205sf $454,000/$199sf $510,000/$227sf $323,000/$144sf $359,000/$161sf
2,500-2,999 sq.ft.
$562,000/$200sf $617,000/$226sf $526,000/$189sf $552,000/$204sf $548,000/$201sf $582,000/$213sf $381,000/$139sf $392,000/$145sf
3,000+ sq.ft.
$813,000/$235sf $807,000/$231sf $586,000/$181sf $645,000/$196sf $685,000/$199sf $669,000/$198sf $688,000/$166sf $705,000/$171sf
closed sales overall average
% change
28
52
103
117
73
85
123
111
$500,000/$215sf $601,000/$255sf $395,000/$203sf $425,000/$224sf $462,000/$203sf $471,000/$255sf $383,000/$158sf $398,000/$166sf +20%
+8%
+2%
Kimberly Davis, Vice President, Realtor® I 1212 6th Ave North, Suite 200 I Nashville, TN 37208 cell 615.593.0305 I office 615.373.4347 x35 www.DavisGroupRealEstate.com I www.SylvanParkHomes.com
+4%