Williamson County Real Estate: Tennessee: Nashville

Nashville Luxury Home Market Report January 2011

Nashville Luxury HomeNashville Luxury Homes Market Report for January 2012 – shows that activity is increasing in the catagory with 16 closings compared to 10 the previous January. The average sales price for Nashville luxury homes was also up significantly to $1,798,565 compared to $1,115,120. What these statistics are telling us is that not only are more Nashville million dollar homes being sold, but multi-million dollar homes are now starting to sell.

 The most expensive home sold was 18,000 square feet and located in Green Hills. The selling price was $5,300,000. Two homes sold in Laurelbrooke, a gated community in Franklin for over $3,000,000, and 2 luxury homes sold in Annandale in Brentwood. For home buyers who are new to the area, almost all of the Nashville luxury homes are sold in areas directly south and west of Nashville in Belle Meade, Brentwood, and Green Hills.

  • 16 Nashville luxury homes sold in January 2011 compared to 10 the previous January
  • the average sales price of Nashville luxury homes was $$1,798,565
  • the size of homes sold was 7,149 square feet
  • 17 Nashville luxury homes are currently pending
  • 338 Nashville luxury homes are listed in the Nashville MLS as available for purchase
  • the absorption rate for Nashville luxury homes is 21 months based on January sales

Search for Nashville luxury homes here

Nashville Luxury Homes

Showing properties 1 - 50 of 278. See more Luxury Homes.
(all data current as of 2/3/2012)

  1. 6 beds, 8 full, 3 part baths
    Home size: 20,533 sq ft
    Lot size: 6.00 ac
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  2. 7 beds, 7 full, 4 part baths
    Home size: 19,935 sq ft
    Lot size: 2.42 ac
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  3. 5 beds, 4 full, 2 part baths
    Home size: 10,495 sq ft
    Lot size: 23.13 ac
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  4. 5 beds, 4 full, 2 part baths
    Home size: 9,685 sq ft
    Lot size: 3.99 ac
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  5. 8 beds, 7 full, 5 part baths
    Home size: 11,373 sq ft
    Lot size: 15.00 ac
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  6. 8 beds, 9 full, 3 part baths
    Home size: 17,268 sq ft
    Lot size: 5.94 ac
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  7. 6 beds, 7 full, 3 part baths
    Home size: 13,310 sq ft
    Lot size: 5.22 ac
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  8. 4 beds, 5 full, 1 part baths
    Home size: 11,310 sq ft
    Lot size: 7.00 ac
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  9. 4 beds, 5 full, 3 part baths
    Home size: 10,075 sq ft
    Lot size: 2.01 ac
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  10. 4 beds, 3 full, 1 part baths
    Home size: 5,176 sq ft
    Lot size: 26.61 ac
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  11. 7 beds, 8 full, 2 part baths
    Home size: 14,975 sq ft
    Lot size: 40,510 sq ft
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  12. 4 beds, 5 full, 2 part baths
    Home size: 10,145 sq ft
    Lot size: 2.08 ac
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  13. 5 beds, 4 full, 2 part baths
    Home size: 9,200 sq ft
    Lot size: 2.08 ac
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  14. 6 beds, 8 full, 3 part baths
    Home size: 11,754 sq ft
    Lot size: 2.02 ac
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  15. 5 beds, 5 full, 1 part baths
    Home size: 5,766 sq ft
    Lot size: 38.76 ac
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  16. 5 beds, 5 full, 1 part baths
    Home size: 6,023 sq ft
    Lot size: 21.00 ac
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  17. 6 beds, 5 full, 1 part baths
    Home size: 5,556 sq ft
    Lot size: 86.23 ac
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  18. 5 beds, 4 full, 1 part baths
    Home size: 5,751 sq ft
    Lot size: 6.41 ac
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  19. 5 beds, 6 full, 1 part baths
    Home size: 10,361 sq ft
    Lot size: 1.34 ac
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  20. 5 beds, 5 full, 2 part baths
    Home size: 9,946 sq ft
    Lot size: 3.90 ac
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  21. 6 beds, 6 full, 2 part baths
    Home size: 14,102 sq ft
    Lot size: 3.03 ac
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  22. 8 beds, 9 full, 2 part baths
    Home size: 14,040 sq ft
    Lot size: 2.05 ac
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  23. 6 beds, 6 full, 3 part baths
    Home size: 11,586 sq ft
    Lot size: 3.41 ac
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  24. 6 beds, 7 full, 2 part baths
    Home size: 11,302 sq ft
    Lot size: 1.83 ac
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  25. 4 beds, 5 full, 1 part baths
    Home size: 7,971 sq ft
    Lot size: 36,154 sq ft
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  26. 1 bed, 1 full, 1 part baths
    Home size: 10,038 sq ft
    Lot size: 1.50 ac
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  27. 4 beds, 4 full, 3 part baths
    Home size: 9,604 sq ft
    Lot size: 2.30 ac
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  28. 6 beds, 5 full, 6 part baths
    Home size: 10,032 sq ft
    Lot size: 4.10 ac
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  29. 5 beds, 5 full, 1 part baths
    Home size: 7,750 sq ft
    Lot size: 2.32 ac
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  30. 5 beds, 6 full, 1 part baths
    Home size: 8,993 sq ft
    Lot size: 6.70 ac
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  31. 4 beds, 4 full, 1 part baths
    Home size: 7,603 sq ft
    Lot size: 3.40 ac
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  32. 5 beds, 5 full, 2 part baths
    Home size: 10,430 sq ft
    Lot size: 1.75 ac
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  33. 4 beds, 5 full, 1 part baths
    Home size: 5,598 sq ft
    Lot size: 2.88 ac
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  34. 5 beds, 5 full, 3 part baths
    Home size: 10,653 sq ft
    Lot size: 1.23 ac
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  35. 4 beds, 4 full, 3 part baths
    Home size: 10,639 sq ft
    Lot size: 4.67 ac
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  36. 4 beds, 2 full, 1 part baths
    Home size: 8,132 sq ft
    Lot size: 1.03 ac
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  37. 4 beds, 5 full, 1 part baths
    Home size: 7,376 sq ft
    Lot size: 2.47 ac
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  38. 5 beds, 7 full, 1 part baths
    Home size: 8,294 sq ft
    Lot size: 3.82 ac
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  39. 4 beds, 3 full, 2 part baths
    Home size: 6,522 sq ft
    Lot size: 20.97 ac
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  40. 5 beds, 6 full, 3 part baths
    Home size: 8,801 sq ft
    Lot size: 1.49 ac
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  41. 6 beds, 7 full, 3 part baths
    Home size: 11,962 sq ft
    Lot size: 1.30 ac
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  42. 5 beds, 6 full, 2 part baths
    Home size: 6,409 sq ft
    Lot size: 39,639 sq ft
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  43. 5 beds, 5 full, 2 part baths
    Home size: 6,401 sq ft
    Lot size: 1.03 ac
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  44. 5 beds, 7 full, 1 part baths
    Home size: 8,323 sq ft
    Lot size: 1.19 ac
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  45. 5 beds, 5 full, 1 part baths
    Home size: 8,676 sq ft
    Lot size: 3.00 ac
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  46. 3 beds, 5 full, 1 part baths
    Home size: 6,497 sq ft
    Lot size: 6.43 ac
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  47. 5 beds, 5 full, 2 part baths
    Home size: 10,219 sq ft
    Lot size: 1.21 ac
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  48. 4 beds, 6 full, 1 part baths
    Home size: 8,516 sq ft
    Lot size: 3.03 ac
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  49. 6 beds, 6 full, 3 part baths
    Home size: 10,207 sq ft
    Lot size: 1.09 ac
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  50. 5 beds, 6 full, 1 part baths
    Home size: 8,582 sq ft
    Lot size: 29.26 ac
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Listing information deemed reliable but not guaranteed. Read full disclaimer.

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3 commentsLarry Brewer • February 03 2012 10:08PM

Nashville Homes Sales for December 2011

Nashville Real EstateNashville homes sales increased 21 percent in December of 2011 compared to the previous December with 1502 sales of single family homes compared to 1237 the previous year.

Inventory levels continue to shrink with 10,574 Nashville homes available compared to 12,146 one year ago, a 13 percent reduction in available homes, the lowest level since 2007. Average number of days on market is down to 94 days and median prices are still lower than last year at $168.500.

 Nashville condos also have seen a major reduction of inventory with 1447 units available compared to 1799 last year, as reduction of 24 percent. Prices for Nashville condos have also been stable with the median price staying at $140,062.

 In my opinion, Nashville real estate in showing all the signs of a major correction with significant reductions in inventory and increased sales on a comparative basis, it's becoming harder every day to find good choices for buyers, and sellers who have realistic expectations are selling their homes at a fair price. The average asking price to listing price ratio was 96 percent for Nashville homes.

  • 1502 Nashville homes sold in December 2011 compared to 1237 last December
  • 171 Nashville condos sold compared to 174 last year
  • the median sales price for Nashville homes was $168,500 compared to $174,500 last year
  • the median price for Nashville condos was $140,062 compared to $140,000 last year
  • the inventory levels at the end of December for Nashville homes was 10,574 compared to 12,146 last year
  • the absorption rate for Nashville homes based on December sales is 7 months
  • the absorption rate for Nashville condos is now 13 months

Search for Nashville homes, Nashville real estate, and Nashville condos here Nashville Homes for Sale

Return to Nashville homes search page

For the most-up-to-date information on Nashville current home values, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Nashville MLS listings come on the market or price reductions in Nashville are posted. Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you. If you’re searching for Nashville foreclosures in Nashville or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site. And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site. information on this page is based on information on single family homes for sale in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

 

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0 commentsLarry Brewer • January 26 2012 08:40PM

Green Hills Homes Sales December 2011

Green Hills HomeGreen Hills Homes Prices Increase for December 2011 - The market for Green Hills homes is changing quickly with more of the higher priced homes selling even though the total volume hasn't changed at all with 22 closings for the month of December.

The average price of Green Hills homes sold in December was $658,840 compared to $499,421 last December, an increase of 32 percent. The median price of the same homes and time show an increase of 29 percent to $549,500 compared to $425,000 last year.

The average size of Green Hills homes sold in December was 3739 square feet compared to 3268 square feet last year. 31 Green Hills homes are currently pending sale or under contract and 163 homes are listed in the Nashville MLS as available for purchase. The absorption rate of Green Hills homes based on December sales is down to 7 months. The list price to sales price ration for Green Hills homes is now 97 percent.

 The market is quickly changing from a buyers market to a seller's market, and for people who have been waiting to purchase, the best prices are behind you.

  • 22 Green Hills homes sold for December 2011 the same as December last year
  • the average sales price was $658,840 compared to $499,421
  • the median price was $549,500 compared to $425,000
  • the size of homes sold was 3739 compared to 3268
  • 31 Green Hills homes are currently under sales contract
  • 163 Green Hills homes are currently listed in the Nashville MLS as available for purchase

Search for Green Hills homes here

 Green Hills Homes for Sale

Return to Nashville homes search page

For the most-up-to-date information on Green Hills current home values, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Green Hills MLS listings come on the market or price reductions in Green Hills are posted.

 Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you. If you’re searching for Nashville foreclosures in Green Hills or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site. And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site.

 information on this page is based on information on single family homes for sale in Green Hills subdivision in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

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4 commentsLarry Brewer • January 11 2012 07:38PM

Wordless Wednesday - Belmont Mansion

Wordless Wednesday - This past Saturday Elizabeth an I took a tour of the Belmont mansion in Nashvile. Of course it's now surrounded by Belmont university so most people have no idea of it's existance. The story of the original owner and the events of her life would make a fantastic book, and some say that Adelicia Aklen was the inspiration for Scarlett O'hara.

Belmont Mansion

Return to Nashville homes search page

For the most-up-to-date information on Nashville current home values, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Nashville MLS listings come on the market or price reductions in Nashville are posted.
Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you. If you’re searching for Nashville foreclosures in Nashville or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site. And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site. information on this page is based on information on single family homes for sale in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

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7 commentsLarry Brewer • December 21 2011 10:35AM

First Impressions are Killing Your Forest Hills Listing

Back DoorI was asked be another realtor to take a look at their listing in Forest Hills that was getting a lot of traffic but no offers. The home in question was an older ranch home in a great location with a nice lot. The neighborhood is going through a transformation of teardowns and remodels that has made a large impact on improving property values. But so far no offers on this home.

Here was my comments to the listing agent.

  • the lockbox was on the back door where most people park. unfortunately, the deck at the entrance is in bad condition and looks out of place. And the door itself is in bad condition. move the lockbox to the new front door where visitors will see all of the improvements first. consider replacing the back door.
  • The house was very open, but all of the blinds were closed and the floors were dark hardwood. The impression on a nice sunny day is that this is a dark house. Find a way to bring more light in to the home by opening all the blinds and leaving the lights on in the house when you know that you will have showings.
  • the trees are very old and one of the limbs had fallen at the entrance of the drive. It was blocking the view of the road when you try to leave making it a hazard to visitors. It's the first and last thing you see when you view the property

They have reduced the price of the home by over 10 percent since listing it a few months age. They could have spent 1/4 of that to make these repairs and probably had it sold by now.  Will they listen to my advise? It's hard to say, but this kind of feedback is what i hope to get from my fellow realtors when they view my listings.

Forest hills is located on the south side of Nashville between Brentwood and Green Hills. Search for Forest Hills homes here.

Forest hills homes

Other Nashville Neighborhoods

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For the most-up-to-date information on Forest hills current home values, then we urge you to contact us.  We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area.  Also ask to be placed on an instant notification system when any new Forest hills MLS listings come on the market or price reductions in Forest Hills are posted.
 Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you.  If you’re searching for Nashville foreclosures in Forest Hills or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site.  And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site. information on this page is based on information on single family homes for sale in Forest hills subdivision in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.
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2 commentsLarry Brewer • November 11 2011 11:35AM

Nashville Luxury Homes Sales for October

Nashville Luxury HomeNashville Luxury Home Salesfor October 2011 remained slow with 12 closings. The median price of Nashville luxury homes sold was $1,080,000 and the median listing price was $1,324,812. As you can tell, the asking price to the listing price ratio was much wider than usual, primarily due to one transaction. 385 Nashville luxury homes are currently listed in the Nashville MLS making the absorption rate 32 months.

  • 12 Nashville luxury homes were sold in October
  • the median sales price was $1,080,000
  • the average size on Nashville Luxury homes sold was 6419 square feet
  • 385 Nashville luxury homes are available for purchase
Search for Nashville Luxury homes here
Luxury Homes

Other Nashville Neighborhoods

Return to Nashville homes search page

For the most-up-to-date information on Nashville luxury home values, then we urge you to contact us.  We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area.  Also ask to be placed on an instant notification system when any new Nashville Luxury MLS listings come on the market or price reductions in Nashville Luxury homes are posted.
 Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you.
 information on this page is based on information on Luxury homes for sale in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.
 
 

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1 commentLarry Brewer • November 10 2011 09:18AM

Speechless Sunday - Nashville Setting Sun

Setting Sun

I know that they all look great, but I like this one. Elizabeth caught this one from a Nashville rooftop earlier this year.

For the most-up-to-date information on Nashville current home values, then we urge you to contact us.  We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area.  Also ask to be placed on an instant notification system when any new Nashville MLS listings come on the market or price reductions in Nashville are posted.

 Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you.  If you’re searching for Nashville foreclosures in Nashville or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site.  And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site.

information on this page is based on information on single family homes for sale in Nashville subdivision in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

 
 

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5 commentsLarry Brewer • November 06 2011 09:28PM

Green Hills Homes Market Report for October

Green HillsGreen Hills Home Sales for October 2011

  • 11 Green Hills homes sold in October
  • the average sales price was $534,091
  • average days on market for Green Hills homes was 116
  • the size of homes sold in Green Hills averaged 3490 square feet
  • 8 Green Hills homes are currently pending
  • 232 Green Hills homes are currently listed in the Nashville MLS as available for purchase

Search for Green Hills homes here Green Hills homes for sale

Other Nashville Neighborhoods

Return to Nashville homes search page

For the most-up-to-date information on Green Hills current home values, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Green Hills MLS listings come on the market or price reductions in Green Hills are posted.
Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you. If you’re searching for Nashville foreclosures in Green Hills or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site. And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site.
 information on this page is based on information on single family homes for sale in Green Hills subdivision in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.  

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1 commentLarry Brewer • November 03 2011 10:10AM

Nashville Luxury Home Sales September 2011

Nashville Luxury HomeNashville Luxury Homes Sales for September 2011 were spread out between the areas of west Nashville in Belle Meade and northern Williamson county in Brentwood and Franklin. Sales are still exceptionally slow with 13 closings of Nashville luxury homes for the month, this is just 3.4 percent of the available luxury homes, or a 29 month absorbtion rate. 13 luxury home closings is exactly the same as last September, so the market is stable but slow. Here is the breakdown of Nashville luxury home sales by area

Nashville Luxury home sales continue to sell, but at a very slow rate, and I don't really see anything changing unless the equity markets improve. A lot of people I talk to are keeping their money in the stock market for now.
Search for Nashville Luxury homes here
 
Other Nashville Neighborhoods

Return to Nashville homes search page

For the most-up-to-date information on Nashville luxury home values, then we urge you to contact us.  We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area.  Also ask to be placed on an instant notification system when any new Nashville luxury home MLS listings come on the market or price reductions in Nashville luxury homes are posted.
 Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you.  If you’re searching for Nashville foreclosures in Nashville luxury homes or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site.  And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site.
 information on this page is based on information on single family homes for sale in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

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2 commentsLarry Brewer • October 24 2011 04:32PM

I want a steal

This is a tough one for people to understand, everybody wants a deal, and they don't know it when they see it. They all are. I have just as many buyers looking for homes today as I did 5 years ago, and all of them say the same thing. I want a deal. Well the truth is that every home right now is a deal compared to several years ago, just like the stock market. It's very difficult to find a home that's overpriced and get an appraiser to go along with it.

Find the home you love, understand that because of market conditions, it's priced considerably below what it was 5 years ago, and be happy that you made a good decision.

In Nashville, most homes are selling at 10 to 15 percent below 2006 prices, but in some areas, they haven't gone down at all. But remember that Nashville didn't have the big run up in prices that some areas in the west and northeast, so prices of Nashville homes really didn't have far to fall.

 

Via Jerry Murphy, Anthem AZ Real Estate (Long Real Estate):

Since the beginning of the down turn in the real estate market real estate agents have been innundated with buyers who are looking for "a steal".  Well, here's reality folks.  It doesn't exist.

You see, unlike securities whose value are based on future earnings, or collectibles, whose value is based on the scarcity of the item, real estate's value is based on other like kind products or in real estate parlance, comparable homes.

The fallacy of "the steal" is that the buyer is going to find that one property that no one else in the market sees is undervalued.  They're going to buy it and a price well below the market and then turn around and sell it for a huge profit.  Well, as I like to say to my buyers, "if I see it's a great value, and you see it's a great value, a thousand other eyes also see that it is a great value."  And more than likely the price will be bid up.

The other scenario involves buyers who think they are going to submit low ball offers and get "the steal".

Let me explain what really happens, based on the value basis of real estate that I noted above.

Let's say you, as the buyer, WERE able to land that "steal".  What you just did was set the floor for all the other homes, including yours, in the area.  Because WE as realtors base our seller's sale prices on the comparable properties in the area.  So your attempt to then turn around and sell it at an inflated price in a depressed market is going to backfire on you.

This is what has caused the downward spiral in prices in most areas of the country.

My best advice when shopping for a home in this market is to realize that prices are severely depressed as they are.  Now, there's nothing wrong with trying to negotiate A LITTLE off the price, but don't expect to come in with an offer 25, 30, or 40% below the list price and have it accepted.  This is a buy and hold market.  Not a flippers market.  If you come into this market with the expectation that you'll be holding on to this home for five to ten years, you will probably make a good return on your investment.

We need to get out of that get rich quick mentality as a country.  Which is EXACTLY what got us into this mess in the first place.

For more information about Phoenix and Scottsdale area real estate please visit www.ArizonaPremiereLiving.com

And for information about Anthem, AZ real estate please visit: www.AllAboutAnthem.com

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4 commentsLarry Brewer • October 16 2011 09:24AM