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Tuesday, 07 February 2017
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Nashville’s record reappraisal: Where have property values soared most?

, USA Today Network - TennesseePublished 10:00 p.m. CT Feb. 6, 2017 | Updated 10:41 p.m. CT Feb. 6, 2017

Davidson County Property Assessor Vivian Wilhoite explains the upcoming reappraisal process and skyrocketing home values. Joey Garrison / The Tennessean

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It’s a hard sell: We’re not raising your property taxes, but by the way, many of you will be paying higher taxes.

That’s the delicate message coming from Mayor Megan Barry and Davidson County Property Assessor Vivian Wilhoite as they prepare Nashvillians for a reappraisal in April when property values in the county are poised to increase on average by a record 34.5 percent.

This year's historically high appreciation — expected for some time now — is the byproduct of a booming city that has attracted young families and development to neighborhoods that were once neglected.

It’s good news for Nashville homeowners who have made money on their purchases. But some, particularly in rapidly changing areas, could be in for a surprise when they see their tax bills.

“This year is key. This year is major,” Wilhoite told a dozen or so Nashvillans at a community meeting at Edgehill last week. “And we want to make sure that you are informed of the options available to you.”

Nashville property values increasing at ‘historic’ clip

Nashville's long-dormant Dickerson Pike on cusp of growth

In blue-collar neighborhoods near The Fairgrounds Nashville and Nolensville Pike such as Woodbine, appreciation has skyrocketed by an estimated average of 57 percent since 2013. That leads the entire city. Next is East Nashville communities west of Gallatin Pike such as Cleveland Park, McFerrin Park and East Hill, where values have soared on average by 50 percent.

Parts of downtown, Germantown, Salemtown, East Nashville’s Inglewood and The Nations in West Nashville — also gentrifying neighborhoods — have seen property values spike by an average of nearly 50 percent. Even South Nashville suburban neighborhoods near Edmondson Pike and Haywood Lane — not considered development hot spots — have seen increases of 46 percent.

In fact, all 35 Metro Council districts across Davidson County have seen property values jump by at minimum an average of 24 percent. The smallest bounce is Goodlettsville.

The figures are as of Dec. 1, but they’re expected to stay about the same when the final proposed reappraisal notices are mailed in April. County reappraisals in Tennessee occur every four years. The current record for Nashville is a 33 percent jump from 1993 to 1997.

 

http://www.tennessean.com/story/news/local/davidson%20/2017/02/06/nashvilles-record-reappraisal-where-have-property-values-soared-most/97415782/

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Posted on 02/07/2017 6:50 AM by Tiffany Olson
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Thursday, 02 February 2017
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Saturday, 28 January 2017
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Long-awaited Charlotte Ave. project set to begin

 

A long-awaited redevelopment project that would transform one of the most recognizable buildings along Nashville’s booming Charlotte Avenue corridor is set to begin in two weeks.

Nashville Post reports that a full-scale overhaul of the interior of the L&L Restaurant Equipment property will begin in early February. The work will turn the sprawling 55,000-square-foot building into a huge food court and marketplace. The project is also set to include some office space. Owner Tamay Ozari has previously compared the project to New York City’s Chelsea Market.

Tamay OzariEnlarge

Tamay Ozari

ADAM SICHKO | NASHVILLE BUSINESS JOURNAL

The project was revealed a year ago, when it was called the Factory of Nashville. The Post reports that the project is now known as Factory Marketplace.

 

http://www.bizjournals.com/nashville/news/2017/01/27/long-awaited-charlotte-ave-project-set-to-begin.html

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Posted on 01/28/2017 7:26 PM by Tiffany Olson
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Thursday, 19 January 2017
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  • Very flexible space, can be used for offices/ storage/retail/incidental living space and more.... bring your ideas! Entire building for sale includes entire block, includes parking and large lawn area. The building was a key focal point of Mishicot Village, had been the venue for annual summer concerts until two years ago when it was foreclosed. It was originally a school and then used as a successful gift shop business for many many years, each floor has 5+ huge rooms. Newly purchased by professional landlord has it priced to sell! Inclusions: All fixtures & Equipment currently inside the building which included display cases & counters, deli case, compressor and storage shelving.

https://www.oldhousedreams.com/2017/01/18/1905-school-mishicot-wi/

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Posted on 01/19/2017 9:09 AM by Tiffany Olson
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Thursday, 19 January 2017
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  • Very flexible space, can be used for offices/ storage/retail/incidental living space and more.... bring your ideas! Entire building for sale includes entire block, includes parking and large lawn area. The building was a key focal point of Mishicot Village, had been the venue for annual summer concerts until two years ago when it was foreclosed. It was originally a school and then used as a successful gift shop business for many many years, each floor has 5+ huge rooms. Newly purchased by professional landlord has it priced to sell! Inclusions: All fixtures & Equipment currently inside the building which included display cases & counters, deli case, compressor and storage shelving.

https://www.oldhousedreams.com/2017/01/18/1905-school-mishicot-wi/

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Posted on 01/19/2017 9:09 AM by Tiffany Olson
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Thursday, 19 January 2017
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  • Very flexible space, can be used for offices/ storage/retail/incidental living space and more.... bring your ideas! Entire building for sale includes entire block, includes parking and large lawn area. The building was a key focal point of Mishicot Village, had been the venue for annual summer concerts until two years ago when it was foreclosed. It was originally a school and then used as a successful gift shop business for many many years, each floor has 5+ huge rooms. Newly purchased by professional landlord has it priced to sell! Inclusions: All fixtures & Equipment currently inside the building which included display cases & counters, deli case, compressor and storage shelving.

https://www.oldhousedreams.com/2017/01/18/1905-school-mishicot-wi/

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Posted on 01/19/2017 9:09 AM by Tiffany Olson
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Wednesday, 18 January 2017
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Ryman plots huge water park at Opryland

 

Ryman Hospitality Properties Inc. is moving ahead with plans for an expansive indoor and outdoor water park that would connect to its Gaylord Opryland Resort & Convention Center in Nashville.

As designed, a three-story building would include "multiple water-based attractions" including an array of slides and an outdoor wave pool with beaches. Several food-and-beverage outlets are planned as part of the complex, which would consume a large parking lot at the north end of the resort.

This rendering, contained in a construction bid document obtained by the Nashville Business Journal, depicts what a proposed indoor/outdoor water park connected to Gaylord Opryland Resort could look like.

That information comes from newly issued bid documents obtained by the Nashville Business Journal, which disclose that Ryman Hospitality (NYSE: RHP) has selected Nashville contractor D.F. Chase Inc. to lead construction of the proposed project. Bids from subcontractors are due Feb. 9, according to the documents.

The following is an excerpt from the bid documents that describes plans in more detail:

Metro records show that on behalf of Ryman Hospitality, Nashville engineering company Barge Waggoner Sumner & Cannon has applied for a stormwater grading permit. The permit, which is pending, describes the scope of work as an "indoor and outdoor water park." Metro records indicate that an on-site inspection is scheduled for Feb. 27.

Continue reading at...

http://www.bizjournals.com/nashville/news/2017/01/18/exclusive-ryman-plots-huge-waterpark-at-opryland.html

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Posted on 01/18/2017 9:08 AM by Tiffany Olson
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Saturday, 14 January 2017
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Posted on 01/14/2017 9:05 AM by Tiffany Olson
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Friday, 06 January 2017
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Thursday, 05 January 2017
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Nashville will be hottest real estate market in country for 2017 according to Zillow

by Adrian Mojica

Thursday, January 5th 2017

Music City ranked the hottest real estate market in the country for 2017. PHOTO: MGN

NASHVILLE, Tenn.--It's no surprise Nashville is a booming city in terms of population growth. That growth has translated into Music City being ranked the hottest real estate market in the country for 2017.

The real estate and rental marketplace company Zillow predicts Nashville will be the hottest market thanks to being a major center for healthcare employment and the draw for those in the music industry. Markets were selected by examining the fastest-rising home values, unemployment rates, and strong income growth.

Homes in the Metro Nashville area are expected to appreciate by 4.3% this year, while income growth is expected to rise by 1.1% and the unemployment rate to sit at 4 percent.

Nashville isn't the only Tennessee city to make the list. Knoxville came in at number seven with a forecasted home appreciation of 4.4% with an income growth of 1.1 percent. The unemployment rate forecast was higher than Nashville, coming in at 4.7 percent.

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Posted on 01/05/2017 9:04 AM by Tiffany Olson
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Thursday, 05 January 2017
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https://www.oldhousedreams.com/2017/01/03/c-1900-queen-anne-greensboro-al/
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Posted on 01/05/2017 6:39 AM by Tiffany Olson
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Wednesday, 04 January 2017
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Tuesday, 03 January 2017
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Williamson builders hustled to keep pace with buyers in 2016

, For The Tennessean8:04 a.m. CT Jan. 2, 2017

The sounds of hammers and saws could be heard throughout Williamson County the past year as home builders, trying to keep pace with the growing population, sought approval to build more than 2,400 new single-family houses.

"Williamson County is one of the top five growth counties in the United States," said David McGowan, president of Regent Homes.

That growth is driven by families relocating in order to send their children to Williamson County's highly rated schools and professionals attracted by corporate office jobs in Cool Springs, he said.

One recent example is the decision by CKE, the parent company of the Carl's Jr. and Hardee's restaurant chains, to move its operations from California and St. Louis to Cool Springs, where it will employ more than 120 people in a new headquarters operation.

Many employers are moving to Williamson County for the same reasons, said McGowan.

"They are moving here for (lower) taxes and the quality of life," he said.

By late December, builders had received approval for construction of 2,435 new homes in Williamson County's cities and unincorporated areas. That number is likely to increase as final figures are tabulated.

Franklin, for example, issued building permits for 678 homes through the end of November. That number could grow when December is added to it.

Spring Hill approved 652 building permits through November. That was more than in all of 2015, when the city issued 576 permits.

There were 259 home building permits issued in Nolensville, 185 in Thompson's Station and 77 in Fairview. Brentwood approved 163 housing starts. In the unincorporated areas of the county, 421 homes were approved for construction.

Those unincorporated areas include College Grove, where The Grove and Hideaway at Arrington luxury golf communities are located and where The Jones Co. is building in the Falls Grove community. Those areas also include Arrington, where the Kings' Chapel gated community is located.

"We've had a really big year," said Spring Hill spokesman Jamie Page. "It exceeded last year, and last year was a really big year," with 576 permits.

John Maher Builders, one of the most active home builders in the area, is building homes in a new phase of the Wade's Grove subdivision and in Spring Hill Place.

"Spring Hill is desirable for many reasons, including affordability, safe communities, convenient shopping and proximity to Nashville and other locations such as Franklin and Columbia," said John Maher, founder of the company.

Buyers include first-time homeowners, retirees, people relocating from out of state and others, said Maher.

Fairview is attracting increasing attention from home builders. The city approved construction of 77 homes through late December. That was more than in all of 2015, when 60 permits were approved. In 2014, builders sought permission for 39 homes.

"It's been a good year," said Sharon Hall, the city's codes clerk. "We had 20 in September, and we've never had that number."

Large builders in the city include The Jones Co., which developed the Heartland Reserve subdivision, and Ole South, which is active in the Deer Valley Downs and Western Woods neighborhoods.

In Franklin, Celebration Homes has been especially active in the Berry Farms master planned community, located along the I-65 growth corridor.

"Berry Farms is becoming the new hidden gem of Franklin," said Celebration Homes President Randall Smith.

Values are rising along with the number of homes built, he said.

"Where we had home sales when we started in 2013 in the upper $300,000s we now have luxury residences in the $500,000s to over $800,000. Several larger estate homes are planned soon that will be near $1 million," offered by Celebration Homes and Ford Custom Homes, said Smith.

In Berry Farms, Regent Homes offers townhomes and Town Center condos starting around $250,000. In Westhaven, the company is building condos with prices starting at $352,720.

Regent is building homes in Nolensville in the Brittain Downs, Burkitt Village, Eulas Glen and Sherwood Green Estates subdivisions; in Franklin in the Lockwood Glen neighborhood and in Spring Hill in the Shirebrook neighborhood.

Demand was consistently strong throughout 2016.

"Normally you expect December to be slow, but we'll have 35 sales," said McGowan. "It's extremely strong."

http://www.tennessean.com/story/money/homes/2017/01/02/williamson-builders-hustled-keep-pace-buyers-2016/95980190/
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Posted on 01/03/2017 6:36 AM by Tiffany Olson
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Monday, 02 January 2017
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Wednesday, 21 December 2016
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QUIZ: What Nashville Neighborhood Should You Live In?

 

QUIZ: What Nashville Neighborhood Should You Live In?

http://styleblueprint.com/nashville/everyday/nashville-neighborhood-live/?utm_source=daily&utm_medium=email&utm_campaign=privy&utm_content=nashville

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Posted on 12/21/2016 4:34 PM by Tiffany Olson
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Tuesday, 20 December 2016
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Monday, 19 December 2016
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Thursday, 15 December 2016
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Williamson County Leads the USA in Job Growth

Posted by 

Date: 

in: BusinessHomePageNews

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Williamson County Leads the USA in Job Growth

From June 2015 to June 2016, employment increased in 291 of the 344 counties with 75,000 or more jobs.

Among these large counties, Williamson County, had the largest over-the-year percentage increase, with a gain of 6.7 percent, according to numbers released Tuesday by the Bureau of Labor Statistics. That compares with national job growth of 1.5 percent.

Utah County, Utah, the county south of Salt Lake City with Provo as the county seat, was close behind with a gain of 6.5 percent. Utah County is home to Brigham Young University and is home to more than a half million people.

Next was Loudon County, Va., with 5.2 percent job growth, then Williamson County, Tex. with 4.7 percent.

Rutherford County, Tenn., rounded out the top five in job growth, with 4.6 percent.

job growth

http://williamsonsource.com/williamson-county-leads-the-usa-in-job-growth/

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Posted on 12/15/2016 4:29 PM by Tiffany Olson
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Thursday, 08 December 2016
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3BR, 2.5BA​ BRICK TOWNHOME FOR LEASE - 
ONLY 5 MILES FROM DOWNTOWN

 

2120 Lebanon Pike, #41

 

Offered at $1,595/month

 
 
 

* Spacious and bright floorplan with hardwoods and a big eat-in kitchen
* Great roommate plan with enormous master suite and 2 additional bedrooms
* Attached garage and plenty of guest parking adjacent to townhome
* Fireplace, built-ins, walk-in pantry
* Washer, dryer, refrigerator, lawncare, and trash pick up all included
* New HVAC (in the last year) and incredibly efficient....NES power bill averages less than $80 a month
* Fenced, private aggregate patio with green space behind - beautiful view of open field 
* Largest floorplan in Easthaven - ideal location near mailboxes and extra parking in this quiet and friendly community 
* Beautiful townhome in prime location with easy access to interstate and Briley Parkway  
* Just 5 miles to downtown, 6 miles to Vanderbilt, 5 miles to BNA airport, and 8 miles to Belmont
* $1595/month and minimum 1 year lease
* $1,500 refundable security deposit. 
* AVAILABLE DECEMBER15th
* No pets or smoking, please. Will verify prospective tenant's previous rental history, current employment and credit. Please call Mike (owner agent) to schedule a showing or with any questions. 615.414.3270

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Posted on 12/08/2016 10:23 AM by Tiffany Olson
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Wednesday, 07 December 2016
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Greater Nashville Association of REALTORS Inc.
 
 
Middle Tennessee Sees Largest Home Sales 
Gain in November
NASHVILLE, Tenn. (Dec. 7, 2016)   There were 2,978 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 24 percent from the 2,397 closings reported for the same period last year.
 

      Year-to-date closings through November are 35,674, a 6 percent increase from the 33,679 closings reported through November 2015. 
 

"Although we experienced a substantial increase in closings this November as compared to last November, our monthly trending this year is in line with typical market trends this time of year.  The numbers of closings are high, but have shown fewer closings month by month since the summer," said GNAR President Denise Creswell. 

     "Various factors play into the 24 percent increase we saw over 2015, including the end of the year approaching and the threat of rising interest rates," said Creswell. "Many people locked in their rates in October in anticipation of rising interest rates after the election, and they have edged up slightly. We will likely see the interest rate factor be a boost to home sales in December, as well." 
 

A comparison of sales by category for November is:

 

November 2015 

November 2016 

 CLOSINGS

2,397

2,978 

  Residential

1,986

2,463

  Condominium 

248 

353 

  Multi-Family

13

22 

  Farms/Land/Lots

150 

140 

 

 
There were 2,774 sales pending at the end of the month, compared with 2,516 pending sales at this time last year. The average number of days on the market for a single-family home was 49 days.

The median residential price for a single-family home during November was $259,900, and for a condominium, it was $182,390. This compares with last year's median residential and condominium prices of $231,925 and $178,002, respectively.
 

     Inventory at the end of November was 11,225, compared to 12,433 in November of last year. The current inventory of properties by category, compared to last year, is:

 

November 2015 

November 2016 

INVENTORY 

12,433 

11,225 

 Residential 

8,198 

7,540 

 Condominium

807 

737 

 Multi-Family

115 

116 

 Farms/Land/Lots

3,313 

2,832 

 

 

"New construction is also adding to the increase this time of year. New construction starts are up across the country, and Middle Tennessee saw 200 more new construction units close in November than November 2015," said Creswell.
 

"November saw our biggest sales gain all year compared to last year, and it also saw our lowest days on market average as far back as our records go," said Creswell. "We say it almost every month with the release of market data, and it bears repeating again: with our ever-tightening inventory supply, being prequalified and ready to make an offer quickly is critical for buyers, even in the colder months." 

 

     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. 

 
GNAR
4540 Trousdale Dr. | Nashville, TN 37204
Phone: (615) 254-7516 | Fax: (615) 256-1353
www.gnar.org
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Posted on 12/07/2016 10:22 AM by Tiffany Olson
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