Tag Archives: condominium

Nashville Home Sales Heat Up In June 2015

Posted on by
Reply
Bickers New HomeNASHVILLE, Tenn. (July 7, 2015) – There were 3,804 homes sold in the month of June, according to figures provided by the Greater Nashville Association of REALTORS®. That figure is up 14.4 percent compared to the 3,324 closings reported for June 2014.

      Second-quarter numbers are also up, with 10,302 closings reported, a 12.3 percent increase from the 9,170 closings reported through the second quarter of 2014. Year-to-date closings for Greater Nashville are up 12.2 percent with 17,206 closings compared to the 15,336 closings reported through midyear 2014.

      “The news is good for Middle Tennessee  hoLeBlanc's New Homeme sales with both second-quarter and year-to-date numbers all up compared to last year,” said GNAR President Cindy Stanton. “Every county in our reporting area showed an increase in residential sales, and more than half experienced the same in the condominium market, as well.
 
     “It has been a decade since our area has experienced as strong a month of June as we did this year. The continued growth with jobs, the economy and consumer confidence indicate we can expect this trend to remain.”
 
    For a comparison of sales by category for June click here

Questions Answered About Dealing With An Inherited House

Posted on by
Reply

Question: My father recently passed and I have inherited his townhouse. He had an existing mortgage. I am continuing to make the mortgage payments. I have not notified the mortgage company. I am unable to obtain financing for a home in my name at this time, and was turned down for 2 home loan attempts. If the lender finds out that I now own the house, can they pull the loan? I don’t want to lose the house. There was a Will (I was the PR and sole beneficiary) and I had an attorney prepare the deed which was properly recorded in my name. If I sell the home and payoff the mortgage, are there capital gains taxes or other taxes that I may have to pay? It was my father’s wish that the house be mine upon his death, yet I am afraid if I notify the mortgage company, they will pull the loan.

read more..

November Posts Another Month of Increased Home Sales in Middle Tennessee

Posted on by
Reply

NASHVILLE, Tenn. (Dec. 4, 2014) – There were 2,474 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of REALTORS®.  This figure is up 8.2 percentfrom the 2,287 closings reported for the same period last year. 

     Year-to-date closings through November are 30,431, a 6.9 percent increase from the 28,476 closings reported through November 2013. 
      “The increase in November is further proof of the health of the Middle Tennessee housing market,” said GNAR President Hagan Stone. “This is the highest level of closings for the month of November our region has seen since 2006.” 
      “With more than 2,000 sales pending, the Greater Nashville area is well on its way to exceeding last year’s total closings. These signs are welcome as we begin to look toward 2015.”
     A comparison of sales by category for November  is:
    November 2013 November 2014 
CLOSINGS 2,287 2,474
 Residential 1,953  2,085
 Condominium 222  248
 Multi-Family 28  23
 Farm/Land/Lots 84 118
     There were 2,489 sales pending at the end of the month, compared with 2,192 pending sales at this time last year. The average number of days on the market for a single-family home was 67 days.
     The median residential price for a single-family home during November was $215,000, and for a condominium, it was $165,256.  This compares with last year’s median residential and condominium prices of $195,000 and $150,000, respectively.
Inventory at the end of November was 13,715, compared to 15,262 in November 2013. The current inventory of properties by category, compared to last year, is:
  November 2013  November 2014 
INVENTORY 15,262 13,715
  Residential  9,369  8,694
  Condominium  1,132  902
  Multi-Family  189  149
  Farm/Land/Lots  4,572  3,970
     “If you are considering putting your home on the market early in the new year, now is the time to begin those preparations,” said Stone. “Set up a meeting with your Realtor now to discuss any changes or updates to be made to your home. It’s possible you might even conquer a few of those during the holiday break. The sooner your market-ready home is available in 2015, the greater your chance for a swift transaction.”
     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.