Mark's CityLiving Blog

Missed Opportunity in Green Hills

2009-06-29T12:48:00.004-05:00

We stumbled across this post on William Williams' blog recently and thought it was worth sharing. William Williams use to be one of our favorite writers for The City Paper. He now has occasional articles published there or in other local pubs such as Nashville Lifestyles, and blogs online.

The mayor announced a few months back that there would be a Hillsboro Road improvement project coming soon. Right now, most Nashvillians dread Green Hills traffic heading into and out of the general Green Hills mall area. Great retail has come to Nashville in recent years and our city now boasts a Trader Joe's, Whole Foods, West Elm, Anthropologie, among many other exciting national retailers. There have also been many condo and town home developments built past the mall. With a post office, a library, groceries, and other retail all within a two mile radius, Green Hills has urban potential. What is holding it back is its lack of sidewalks and curbs allowing pedestrian-friendly traffic.

Check out William Williams' blog post on this topic with some interesting findings regarding TDOT's planned road improvement project. Click Here

Important Mortgage Industry Updates from CityLife Lending

2009-06-22T12:58:00.000-05:00

Effective July 31st, new RESPA (Real Estate Settlements Procedures Act) changes are coming to the mortgage industry that will change the way mortgage loans are processed. The new guidelines will require a client to receive their settlement statement four days prior to closing. This means lenders will need to have closing packages to the title company six days before a closing. That makes a 30 day closing essentially a 24 day or less closing, depnding on how quickly the client acts to begin the mortgage process. Another and more impactful change is that the settlement statement must match the initial good faith estimate, otherwise a new disclosure is required along with a new four day waiting period.

CityLife Lending will be working to redisclose a final Good Faith Estimate seven days before closing. This should ideally address any changes in title, closing or lender fees and eliminate any potential obstacles. Should you have any questions about these changes, don't hesitate to contact one of CityLife Lendings Home Mortgage Consultants.

CityLiving Bus Tour

2009-06-19T14:30:00.000-05:00

Back by popular demand, we'll be taking one of our infamous bus tours of Nashville's urban developments on Sunday, June 28 from 1-4pm. Mark will lead this free tour with stops at 5th & Main, West End Station, Velocity in the Gulch (be one of the first to tour!), and many others. This is the most efficient way to see the hottest lofts, condos and homes in Nashville, and to hear the latest on Nashville's real estate market from the urban expert. Visit our web site to see the full itinerary. RSVP online here to reserve your seat on the bus. You can also call 615.383.6964 to RSVP for the tour.

Village Sales Up 85% in May

2009-06-17T14:57:00.000-05:00

We are happy to report that Village Real Estate Services sold a total of 111 units in May, up 85% from April. We are consistently seeing more contracts come through our offices and our agents are busier than ever!

In May, Village received 94.8% of our original listing prices. We are dominating in 37206 (East Nashville) and 37212 (Hillsboro-West End/Belmont-Hillsboro). Village sold a total of 14 units in 37206 in May - more than any other company. Check out the details here. We also sold a total of 11 units in 37212 - again, more than any other company. A graph and specifics are here.

Resale Picks of the Week

2009-06-08T17:11:00.010-05:00

If you would like more information about any of these featured listings, drop us a line at citylivingteam@villagerealestate.com or call us at 615.279.7299.

141 39th Ave N
3BR/2BA - 2053 sqft - $389,000
Want the old house feel without the worries? This is your chance! Only 3 years old! Huge bedrooms, great storage, open living/kitchen/dining set up with easy access to the backyard. Granite counters, stainless appliances, hardwoods...this has it all!

3180 Parthenon Ave
3BR/3.5BA - 2089 sqft - $399,900
Sophisticated town home near Centennial Park & West End Avenue with private garage plus reserved spot outside, ground level 3rd bedroom or office, hardwood floors, open living level with custom kitchen and fireplace and patio. Sellers offering 3-2-1 Rate Buy Down through CityLife Lending. Take a Virtual Tour.

1600 Fatherland Ave
4BR/2BA - 2724 sqft - $374,900
Renovated Victorian in the heart of Lockeland Springs in East Nashville. Soaring Ceilings, four fireplaces, gutted to the studs by previous owner (new wiring, plumbing, 2 HVAC systems) Private Fenced Backyard, Fountain with Koi Pond. Take a Virtual Tour.

2506 Essex Place
4BR/2BA - 2037 sqft - $379,000
Hillsboro Village living in a charming historic home with arched doorways, french doors, and beautiful hardwoods. This home also has a large level fenced in back yard.

900 20th Ave S #1201
2BR/2BA - 1829 sqft - $699,900
Live in Midtown at the Adelicia! Rare corner unit has GE Profile stainless steel appliances, wood floors, ceiling fans, a storage unit, California Closet, designer paint, custom drapes, and stunning 12th floor city views! Take a Virtual Tour.

4220 Jamesborough Place
4BR/2.5BA - 2500 sqft - $399,000
Live in Green Hills at this beautiful renovated home!

The Kress #300
1BR/1.5BA - 1010 sqft - $229,900
Stunning one-of-a-kind home in Downtown Nashville. This secluded stand alone retreat includes an expansive outdoor patio and anchors a private urban courtyard.

If you would like more information about any of these featured listings, drop us a line at citylivingteam@villagerealestate.com or call us at 615.279.7299.

3305 Orleans Drive

2009-06-05T09:51:00.009-05:00

This beautiful historic home is located in Hillsboro-West End. It has all the modern conveniences you would hope for and many things have recently been updated - new roof, new windows, new HVAC, new kitchen & bathrooms, new custom built-ins in the master bedroom and living room, and a new driveway. This four bedroom home was originally built in 1930 and with expansions now has almost 2800 square feet! It is priced at $589,000. Would you like to know more?

Stones River Greenways Event

2009-06-03T11:45:00.003-05:00

One of our favorite organizations in Nashville is Greenways for Nashville. You've heard us talk about them before, so it should be no surprise that we think you should become a member! By becoming a member you are supporting Nashville's existing amazing system of linear parks and trails, and the growth of new greenways in our city's future.

One of the benefits of being a member are invitations to events held throughout the year. Coming up this Sunday from 3-5pm is an afternoon of Latin music, refreshments and a viewing of art housed at historic Stone Hall's gardens and guesthouses. You can find out more info here.

Here's the good news - non-members can join in the fun too! We hope to see you out there.

Favorite Places: Hollyhock Retreat Center

2009-06-01T12:45:00.005-05:00

One of my favorite places in the world is on Cortes Island in British Columbia, Canada. Hollyhock is an island retreat center that I’ve been associated with since the 1980s. Located on an amazing beachfront property, Hollyhock has both mature forests and mountain vistas, features beautiful flower gardens and some of the best food you’d ever want to eat!

One can go to Hollyhock for a personal retreat, or one can enroll in a workshop offering personal enrichment. Hollyhock also offers Social Change programming and is a hub for interactions whose ripples are felt around the world.

I'd like to go the Social Venture Institute offering in September to participate in workshops and panels with business leaders who utilize business as social platform. Check out the offerings if you’d like to see one of my favorite places.

I generally fly to Vancouver, and jump on a float plane which gets me within a ten minute shuttle from the docks to Hollyhock. Returning, I layover for a night or two in Vancouver - one of my favorite North American cities.

- Mark

Making Progress Toward Recovery

2009-05-21T10:03:00.002-05:00

From Charles McMillian
2009 National Realtor Association (NAR) President

There has been a healthy debate among our members about the stimulus package signed into law by President Barack Obama in mid-February. I'm grateful for the many thoughtful comments I've received from you - both pro and con.

Although there's not one cure for the economic ills we're facing, there's one point on which I think we all agree: To get the U.S. economy back on track, we need a stable housing market. That means reducing inventory in our nation's housing markets, and that has been the driving force behind our advocacy efforts over the past several months.

In November, NAR's Board of Directors asked us to do four things: Push for loan limit increases for high-cost areas to be extended beyond 2008; make the $7500 tax credit a true credit and not a loan; find ways to push interest rates down by 200 basis points; and help provide solutions to the foreclosure/short sale problem.

We're making tremendous progress. For 2009, the loan limits for FHA, Fannie Mae, and Freddie Mac loans have been raised to $729,750 in high-cost areas. The tax credit has been raised to $8000 with no payback, making it a true credit. And interest rates have come down 125-150 basis points.

Apart from the new stimulus bill, the administration has committed $50 billion from Troubled Asset Relief Program funds toward foreclosure mitigation, and the U.S. Treasury has doubled its commitment to buy mortgage paper from Fannie Mae and Freddie Mac. These actions should help reduce foreclosures and keep interest rates low. In addition, Fannie Mae has agreed to raise the cap on the number of investment properties to eligible for loans, from four properties per borrower to 10.

But we're not finished. We're still working every day to effect changes that will have a meaningful impact on your business. Some of our most important advocacy efforts are about preserving the home ownership benefits that exist. Shortly after we celebrated victory on getting the tax credit and higher loan limits, the Obama administration released a proposal to limit mortgage interest deductibility for high-income individuals. It's a proposal we reject - and we've been working to let Congress and the administration know why we think it would further depress values and derail recovery efforts.

My theme for this year, "United Toward Tomorrow," is an apt one for the times. We're all experiencing this faltering economy together - and together we'll bring about better time. Thank you for your active engagement in the critical debates and advocacy efforts now taking place within this industry, this association, and this country.

Dragon Music Sundays

2009-05-20T08:15:00.000-05:00

The Village Fund is a sponsor of a great (and free!) summer concert series put on by the Hillsboro-West End Neighborhood Association. Dragon Music Sundays takes place every Sunday from 3-5:30pm at Fannie Mae Dees Park (aka Dragon Park) now through July 5. This is a great Nashville community event - come out and enjoy!

Village Fund Spotlight

2009-05-19T13:47:00.000-05:00

One of our favorite Village Fund recipients is Greenways for Nashville. Greenways are linear corridors of land that are permanently maintained in a relatively undeveloped, natural condition as open space. These linear parks and trails connect many of Nashville's urban neighborhoods to schools, shopping areas, downtown, offices, recreation areas and open spaces. The mission of Greenways for Nashville is to create, develop, protect, preserve and promote the greenways system. Coming soon, there will be a greenway running through The Gulch by Icon and Velocity. Learn more about this Village Fund recipient.

One Left at The Glen

2009-05-18T13:39:00.000-05:00

Only one condo remains at The Glen in Hillsboro Village! The last unit is a 2BR/2.5BA with almost 1400 sqft for $329,500. It includes two parking spaces and a private balcony. The developer is offering a $25,000 incentive meaning you can take the incentive off the price or put some of it towards closing costs or upgrades. Contact us for more info or to schedule a tour.

Three Left at West End Station

2009-05-15T13:38:00.001-05:00

Homes at West End Station in Sylvan Park have been selling quickly in the last month and we are down to only three single-family homes left: Two 2BR/2.5BA for $259,500 and one 3BR/3BA for $274,500. Each efficiently designed home features granite countertops, sanded-and-finished hardwood floors, large front porches, and was built using eco-friendly green construction techniques resulting in lower energy costs. Contact us to schedule a tour or stop by the open house Saturday and Sunday from 2-5pm.

Open House Blitz this Sunday

2009-05-14T09:06:00.001-05:00

Open House Blitz in 12South,Belmont-Hillsboro,& Hillsboro-West End
This Sunday, May 17
2-5pm

Almost all of Village's listings in these neighborhoods will be open and you can easily find them by our recognizable purple pointer signs and balloons. We'll have a list in each home of all the other properties open. Come find your place!

A Study of Showing Activity

2009-05-13T08:34:00.000-05:00

We did a study of Village's showing activity over the past few months, and found a positive trend. Showings are up 34% in April over March, and 81% over February. This is good news! It says that there are buyers and they are out and about. But we thought it would be even more interesting to compare the number of showings in these months to the same months in years past. We all know that warmer weather means more activity in the real estate world, so to give 2009's positive trend credability it seemed necessary to look back. Look what we discovered...

2007 2008 2009
February 626 581 466
March 684 650 631
April 738 758 844

Yes, February was down slightly in 2009 compared to the previous years, but March was practically right on target, and April had even more showings this year than in the past two years! What a pleasant surprise to learn that despite the down market, even more buyers are out trying to find their place.

What to Do with an Old Laptop

2009-05-12T13:29:00.003-05:00

Bring it to the Public Electronic Equipment Recycling Day at LP Field!

Saturday, May 16
9am - 3pm

This is an opportunity for free, safe and environmentally sound and friendly disposal and recycling of "eWaste". Materials accepted at the event include:
CRT Monitors
LCD Displays
CPUs
All-in-Ones
Laptops
Servers
Switches
Hubs
UPS Systems
Keyboards & Mice
Speakers
Hard Drives
Optical Drives
Wires and Cables
Cell Phones
Pagers
PDAs
Televisions
DVDs
VCRs
Stereos
Cameras
Radios
Game Systems
Fax Machines
Photo Copiers
Printer Scanners
Surge Protectors
Telephones
Microwaves

10 Great Green Houses

2009-05-07T10:55:00.004-05:00

If you know the CityLiving Team and Village, you know that we love green. The color is ok, but we mean we love eco-friendly anything. Eco-friendly building techniques, eco-friendly products, eco-friendly modes of transportation, etc. So of course we thought this posting on a cool web site called Mother Nature Network was pretty great. Check out these impressive green houses and let us know what you think. Can you see yourself living in one of them?

10 Great Green Houses

1032 1st Ave N

2009-05-06T15:09:00.008-05:00

Check out this renovated top floor condo we are listing at Riverfront Condos downtown for $169,900. This 1000 sqft flat has two bedrooms and one and a half bathrooms and overlooks the Cumberland River. It also has hardwood floors, a kitchen with maple cabinets and solid surface countertops, new ultra quiet windows, a fireplace, a deck, and the community even has a swimming pool. Want to know more? Email us.

Property Reappraisal 2009

2009-05-05T07:04:00.000-05:00

The front page story in the Tennessean yesterday...

Nashville Homeowners Skeptical of New Property Values
Metro Reappraisals Buck Real Estate Downturn
By Michael Cass

Click here to read the full story on the Tennessean web site.

Twittering

2009-05-04T14:55:00.002-05:00

We're twittering! We decided it was time to jump on the bandwagon and start sending out some tweets. We're having too much fun keeping up with the twitterers we are following.

Follow us on Twitter! Then you'll really be the first to know about new listing and other CityLiving tidbits.

1006 Petway Avenue

2009-05-01T08:03:00.007-05:00

Check out this great listing we have in East Nashville at 1006 Petway Avenue [map]. This Craftsman Bungalow is only $149,900! It has beautiful hardwood floors, a renovated kitchen with granite countertops that opens into the den/office or dining room, a master bedroom with a walk-in closet and stackable washer/dryer, a woodburning fireplace, tile bath, french doors, and a deck overlooking the fenced yard. Interested? We can give you more details, just email us.

CityLiving Lunch Tour: Thursday, May 7

2009-04-30T10:48:00.000-05:00

Mark your calendars for our next lunch tour! Thursday, May 7 (one week from today) we will meet depart from our Downtown office at noon for a walking tour of new and resale urban lofts and condos. We'll see a couple of new construction units at The Lofts at Noel Court on 3rd Ave N, a resale loft at Church Street Lofts, and a few others. If you RSVP, we'll even serve you lunch afterwards! [Click here to RSVP]

4206 Colorado Avenue

2009-04-29T10:52:00.008-05:00

We have a new listing in Sylvan Park at 4206 Colorado Avenue [map]. This ultra-quaint renovated cottage has hardwoods, tile, a separate office, a huge backyard with a great entertaining space, a rocking chair front porch, tons of natural light, a fireplace & so much more. Let us know if you'd like to schedule a showing, or see other properties like this one.

Consumer Confidence Climbs in Middle Tennessee

2009-04-28T10:46:00.001-05:00

From the Nashville Business Journal on Friday, April 24:

Consumer confidence in the Nashville area has moved back into positive territory after hitting new lows earlier this year. The overall confidence index rose to 105 from a negative 66 in February. A healthy range would be in the 200 to 300 point range, says Timothy Graeff, director of the Office of Consumer Research at Middle Tennessee State University, which conducts the survey.

The Current Situation Index remained in the negative, where it has been for the past year. Still, the negative 121 score was an improvement from the negative 160 in February. “Most of the gains are just in people’s hope for the future,” Graeff says. “There’s a sense that it’s got to get better, it will get better.”

The poll of 470 adult residents of Davidson, Rutherford and Williamson counties was conducted on the evenings of Tuesday, April 21, and Thursday, April 23. Graeff says consumers likely won’t loosen their spending habits much in the short term, but unless there is a major incident to set back confidence, they will start spending more freely. “If they could just hear some good news, they will slowly become more confident, slowly start spending more money, he says.
The key, he says, is for consumers here to feel better about their personal financial situations, Graeff says. “It won’t happen over night,” he says.

In the current survey, 4 percent said it was a good time to make large purchases in general, with 11 percent saying it was a good time to buy a home and 7 percent saying it was a good time to buy a car.

Private Downtown Retreat at Icon in the Gulch

2009-04-22T11:03:00.003-05:00

Nashville Home & Garden also recently featured Icon in the Gulch. The article features gorgeous photography of an owner-occupied condo in the high rise. Check out the photos and uniquly urban decorating by clicking here.