Greater Nashville Housing Statistics Released for January 2009

There were 974 home closings reported for the month of January, according to figures provided by the Greater Nashville Association of Realtors®. This represents a decrease of 40.7 percent from the 1,644 closings reported for the same period last year.

 

“The real estate market in Middle Tennessee is clearly feeling the effects of the national economy,” said GNAR President Mike Nichols . “This is the first time we have had fewer than one thousand closings in one month since February of 1994. The Greater Nashville area was slower to feel the full impact of the current national economic situation, and we are traditionally on the early side of recovery, but right now the market is slower than anyone wants it to be.”

 

“The standard formula items, such as interest rates and available inventory are all positive. However, when people don’t have jobs, or don’t have confidence that their jobs are reasonably secure, they are not likely to purchase homes or other significant items. Perhaps the passing of the stimulus package this week will initiate an increase in consumer confidence, but it is likely to take some time before the market really shows solid signs of recovery,” Nichols said. “It does appear that rents have increased, so once people begin to feel confident again, it will make even more sense for them to consider the purchase of a home rather than continuing to rent.”

 

There were 1,282 sales pending at the end of the month, compared with 1,924 pending sales at this time last year.  The average number of days on the market for a single-family home was 89 days. The median residential price for a single-family home during January was $165,000, and for a condominium it was also $165,000.  This compares with last year’s median residential and condominium prices of $179,900 and $158,890, respectively.

 

Inventory at the end of January was 22,509, up from 21,952 in January 2008.

 

“Inventory is actually down in every category but farm, land and lots,” said Nichols. “That is an indication that land available for development is not being purchased, as the need for new homes is limited in light of current available inventory and sales activity. There is a good selection of homes available and ready for those interested in buying now, or for when consumer confidence strengthens and sales activity increases.”

 

Source:  Greater Nashville Association of Realtors, Press Release 020909.

Sharing Inspirational Quotes…Motivating Prosperity!

unique-kb-blogI just came home…it was a long but good day in my real estate world here in Nashville, Tennessee – yet I still have paperwork to complete and need my second wind.  One of the techniques I use for motivating my drive to move forward is to read inspirational quotes.  

 

Here are a few for you to enjoy

 

“Simply the thing that I am shall make me live.” William Shakespeare

 

“If you’re not designing your own obsolescence, someone else is.”

 

“…to exist is to change, to change is to mature, to mature is to go on creating oneself endlessly.” Bernard Berenson

 

“History’s lesson is that we must look far beyond the immediate impact if we hope to anticipate what far-reaching consequences it will have.”

 

“Insanity is doing the same thing over and over again, expecting a different outcome.”

 

“Failure is the refusal to give up what you don’t need.”

 

“Trust does not produce accountability. Accountability produces trust.”

 

“Some allow circumstances to determine their situations.  Others affect circumstances and determine their own situations.”

 

“Next to love, balance is the most important thing.” Coach John Wooden

 

“Those who harness the force of the market achieve prosperity.”

 

“We must not be forced to apologize for the market’s ruthless desire for immediate satisfaction.”

 

“When given the opportunity to speak, don’t waste it with what’s on your mind.  Voice your offer.” 

A Night Out in Nashville!

cocktailsWhether you are a Nashvillian or a visitor to this wonderful area I would like to recommend a relaxing night in Nashville.  It has been awhile since we have been out to enjoy a good meal and entertainment so we decided to meet some friends for an early dinner and great music.

I highly recommend Criallo’s Restaurant in the Cool Springs area.  The food is excellent and the atmosphere is enhanced by the live music; jazz was last night.  There were four of us and we each had a different entree that was prepared to perfection.  (The adult beverages were also tasty!)  This was a terrific start as we lingered for about 3 hours and enjoyed the company of good friends and good food.  To learn more about Criallo’s, please visit www.criallos.com.  You will not be disappointed.

To say that there is no bad music in Nashville is an understatement.  There are numerous venues throughout the city that offer terrific live music each night.  One of the maintstays in Nashville is 3rd & Lindsley.  3rd & Lindsley offers a variety of live music each night with two sets.  The genre’ ranges from R&B, Rock and Roll, Alternative, and soft folk and rock.  We have been there numerous times to unwind and relax and have always had a great time.  The patronage is for all ages of adults and if you enjoy good music than this is the place for you.  This coming Saturday, 3rd & Lindsley will be hosting a 50th Birthday event for Jonell Mosser (www.jonellonline.com).  Jonell is one of Nashville’s success stories in music.  To learn more about this venue and the calendar of music, please visit www.3rdandlindsley.com.

Whatever your choice is for a night out on the town – enjoy Nashville, Tennessee.  Nashville is a highly ranked destination to visit or join us and settle in to call it home.  A Night Out in Nashville is waiting for you!

Home Maintenance Quiz – Test your knowledge!

It’s February and time for me to include my Monthly Tips and distribute to my postcard, email, and newsletter databases.  This month I thought it would be informative to have a quiz on home maintenance that I found via the National Association of Home Builders and share with you.

Tennessee Red Roof Home
Tennessee Red Roof Home

It’s the weekend and you have a whole list of household chores to do. Oh, we know you’d rather be golfing or playing tennis or watching TV, but keeping your home in good shape is important. Your home may be the biggest investment you will ever make. Taking good care of it with regular maintenance is necessary to maintain its value and ensure it will provide a comfortable, safe shelter for you and your family for a long time.

Here is a Home Maintenance Quiz that will test your maintenance knowledge. While this quiz does not address every home maintenance project, it does provide helpful tips and reminders for chores you may have overlooked.

1. How often do forced-air furnace filters need to be changed?
2. What part of the faucet usually needs to be replaced when you have a water leak?
3. Should you run hot or cold water through your garbage disposal?
4. How often should the moving parts of garage doors be oiled?
5. What tools can you use to unclog your drains?
6. What tool can be used to unclog a toilet?
7. What faucet part needs to be cleaned every three to four months?
8. What can you use for traction on icy sidewalks, steps and driveways?
9. Where should the fire in your fireplace be built?
10. What will prevent soot and add color to the fire in your fireplace?
11. Where should your firewood be stored?
12. What helps keep unpainted concrete floors easy to keep clean?
13. What should you use to clean unpainted concrete floors?
14. When can you clean hardwood floors with water?
15. Do hardwood floors need to be waxed?
16. What is the best polish for vinyl floors?
17. When is basement condensation at its maximum?
18. Why should noisy water pipes be fixed promptly?
19. Why should frozen pipes be thawed slowly?
20. How often should your roof be inspected?
21. What should be regularly checked on your security system?
22. To ensure your safety, what household equipment uses batteries that must be checked regularly to make sure they are operable?
23. What do you use to fill nail holes and cracks in plaster walls and gypsum wallboard?
24. What is the white powdery substance that develops on masonry walls?
25. At what temperature should your water heater be set?
26. How often do skylights need to be inspected?
27. What is a simple solution you can use to wash extremely dirty exterior windows?
28. What can you use to help a window slide easily?
29. What should you look for when you inspect your siding yearly?

Click ANSWERS and compare.  Source: National Association of Home Builders.

Printable version of Home Maintenance Quiz.