Success at Velocity

We had a great tour yesterday at Velocity in the Gulch. About 80 people came out to tour the new development on 11th Ave S next to Icon. Thanks to everyone who participated! Stay tuned to our blog and the Events section of our web site and we will soon reveal our next tour stop for September!

From the Tennessean

From yesterday's Tennessean, click here for the full article.

Good News for Housing

The housing sector received positive news, too. The Standard & Poor's/Case-Shiller's U.S. National Home Price Index rose 1.4 percent in the second quarter from the January-March period, the first quarterly increase in three years. Home prices, though still down nearly 15 percent from last year, are at levels last seen in early 2003.

The report added to recent positive news about housing. The National Association of Realtors said last week that sales of existing homes rose 7.2 percent in July, the fourth straight monthly gain.

The Commerce Department is set today to report new-home sales for July. Analysts also expect that figure to rise. Higher home prices would help consumers, who are saving more and spending less during the longest recession since World War II.

"An upturn in prices has to ease some of the pain and may even get some people to loosen up on their wallets a touch," Joel Naroff, chief economist at Naroff Economic Advisors, wrote in a note to clients. "An improving housing market coupled with better consumer spending could ensure that the recovery takes hold."

Best of Nashville

Voting is open on the Nashville Scene's web site for Best of Nashville 2009. Please vote for Mark Deutschmann for Best Realtor (#147)! He was voted Nashville's BEST Realtor in 2008 and we hope our clients and friends feel we are the best again this year! (Remember to fill out at least 25 categories for the ballot to be valid.)

Vote HERE!

Happy Searching

Village recently revamped the results you will find when searching the MLS on our web site. Whereas you use to get only a handful of information about each home, you now will find a multitude of details including schools, lot size, and utility information such as if the home uses electric or gas heat. We hope you find these expanded search results useful! Happy searching!

Tour Velocity in the Gulch

The next CityLiving Lunch tour will visit Velocity in the Gulch. Velocity in the Gulch is one of the city's newest loft developments with fantastic price points starting in the $160,000's. Having just completed construction, you will be one of the first to tour Velocity. The tour is Thursday, August 27 from 12-1pm. RSVP online here, and there will be a free lunch for you following the tour, compliments of Bristol Development Group.

30 Lofts Under Contract at 5th & Main

We are happy to announce that there are 30 contracts written on units at 5th & Main, with a handful already closed! The CityLiving Lunch Tour in July drew over 120 people interested in this urban development in East Nashville. With the exclusive pricing available and the unique location between Five Points and Downtown, 5th & Main has garnered a lot of interest. Be sure to check out the new web site at www.5andM.com to view floor plans, read about green features, and see pictures of the contemporary finishes.

Village's Sales in July

Village had another solid month in July. The company sold 137 units - roughly a 1% increase from June, and a 2% increase from July 2008. Our agents had 17% more buyer-side sales than the previous month - it is still a buyers market! The company on average received 94.7% of our listing prices - more than any other company in the Greater Nashville area.

In East Nashville, Village's sold more homes than any other company with an increase of 24% from June. Our market share in 37206 increased 6% from the previous month to 28%.

In 37212, Village also sole more homes than any other company with an increase of 28% from June.

East Nashville Open House Blitz

This Sunday, August 16 from 2-5pm, Village will hold an Open House Blitz in East Nashville. Many of our listings will be open to tour from 2-5pm. Just head over to the Five Points area and look for the purple pointer signs. Each home open on the blitz will have flyers with a map directing you to other homes participating.

2603 Westwood Avenue

Renovated Brick Tudor in the Hillsboro-West End Neighborhood
4BR/2.5BA
2530 SqFt
$509,000
Virtual Tour

- Exceptional Master Suite Up
- Hardwood Floors
- Eat-In Kitchen
- Granite Countertops
- Stainless Appliances
- Large Living & Dining Rooms
- Two Fireplaces (Non Functional)
- Guest Suite on Main Level
- Front & Back Porches
- Great Yard

July Home Sales Are Promising

Yesterday, the Greater Nashville Association of Realtors published their July home sales data. The good news? July home sales rose over the previous month. Home sales last month were only 11% below the previous year. Back in January, sales were down 41% from the same month in 2008. We have seen a trend each month this year where sales have continued to increase and the difference between the year before has narrowed.

Check out this article from the Tennessean with some theories on why sales are picking back up. (Hint: First-Time Homebuyers)

At the Village company sales meeting on Tuesday, the head of CityLife Lending (a Wells Fargo Home Mortgage affiliate) said that he and his fellow mortgage consultants feel like the bottom has passed. Rates are starting to climb again and are back over 5%. While this is still incredibly low in the history of the mortgage industry, it is not as low as the 4% rates we were seeing earlier this year.

On the CityLiving Team, we have seen our sales increase as well. We currently have 251 sales in 2009. Our goal this year is 500 transactions. We are halfway there!

Here's to a continuation of the upward trend. We hope you are feeling the improvement in the economy too, in whatever industry or business sector you are in.